BROOKLYN HEIGHTS, Ohio--(BUSINESS WIRE)--GrafTech International Ltd. (NYSE: EAF) ("GrafTech" or the "Company") announced today the conditional lifting of the temporary suspension notice related to the Company’s operations located in Monterrey, Mexico, allowing the Company to resume operations at the facility, effective immediately. On November 17, 2022, the State Attorney’s Office for the Secretary of Environment of the State of Nuevo León, Mexico (the “State Attorney”) lifted the suspension notice, subject to the completion of certain agreed-upon activities, including the submission of an environmental impact study with respect to the facility’s operations. The temporary suspension notice had been issued on September 15, 2022, by the State Attorney, as described in the Company’s Current Report on Form 8-K furnished on September 16, 2022.
"We are pleased to have received an order that allows for the immediate restart of our operations in Mexico,” said Marcel Kessler, Chief Executive Officer and President. "We remain committed to being a good corporate citizen and positively supporting the communities in which we operate, and we look forward to expanding our engagement with the Monterrey community for many years to come. I would like to thank the entire GrafTech team, particularly all our employees in Monterrey, for their efforts to address this situation and the continued focus on supporting our customers and moving our business ahead."
For the fourth quarter of 2022, the Company continues to anticipate the temporary suspension will impact its ability to fulfill approximately 10 thousand metric tons (“MT”) to 12 thousand MT of customer orders, consistent with its previous outlook provided on November 4, 2022. The Company will provide an update on the estimated impact of the suspension on its 2023 outlook when it reports its fourth quarter 2022 results.
The Company’s facility in Monterrey has been operating since 1959, has over 550 employees and represents approximately 60 thousand MT of annual production capacity, or 30% of GrafTech’s total annual production capacity, excluding the Company’s facility in St. Marys, Pennsylvania.
About GrafTech
GrafTech International Ltd. is a leading manufacturer of high-quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. The Company has a competitive portfolio of low-cost, ultra-high power graphite electrode manufacturing facilities, including three of the highest capacity facilities in the world. We are the only large-scale graphite electrode producer that is substantially vertically integrated into petroleum needle coke, a key raw material for graphite electrode manufacturing. This unique position provides us with competitive advantages in product quality and cost.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain 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 reflect our current views with respect to, among other things, financial projections, plans and objectives of management for future operations, and future economic performance. Examples of forward-looking statements include, among others, statements we make regarding future estimated revenues and volumes derived from our take-or-pay agreements that had initial terms of three-to-five years, future pricing of short-term agreements and spot sales, anticipated levels of capital expenditures, and guidance relating to earnings per share and adjusted EBITDA. You can identify these forward-looking statements by the use of forward-looking words such as “will,” “may,” “plan,” “estimate,” “project,” “believe,” “anticipate,” “expect,” “foresee,” “intend,” “should,” “would,” “could,” “target,” “goal,” “continue to,” “positioned to,” “are confident,” or the negative versions of those words or other comparable words. Any forward-looking statements contained in this press release are based upon our historical performance and on our current plans, estimates and expectations considering information currently available to us. The inclusion of this forward-looking information should not be regarded as a representation by us that the future plans, estimates, or expectations contemplated by us will be achieved. Our expectations and targets are not predictions of actual performance and historically our performance has deviated, often significantly, from our expectations and targets. These forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business, prospects, growth strategy and liquidity. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to: the ultimate impact the COVID-19 pandemic has on our business, results of operations, financial condition and cash flows, including the duration and spread of any variants, the duration and scope of related government orders and restrictions, the impact on our employees, and the disruptions and inefficiencies in our supply chain; the ultimate impact the conflict between Russia and Ukraine has on our business, results of operations, financial condition and cash flows, including the duration and scope of such conflict, its impact on disruptions and inefficiencies in our supply chain and our ability to procure certain raw materials; the possibility that we may be unable to implement our business strategies, including our ability to secure and maintain longer-term customer contracts, in an effective manner; the cyclical nature of our business and the selling prices of our products, which may decline in the future, may lead to periods of reduced profitability and net losses in the future; the impact of inflation and our ability to mitigate the effect on our costs; the risks and uncertainties associated with litigation, arbitration, and like disputes, including disputes related to contractual commitments; the possibility that global graphite electrode overcapacity may adversely affect graphite electrode prices; our dependence on the global steel industry generally and the electric arc furnace steel industry in particular; the sensitivity of our business and operating results to economic conditions, including any recession, and the possibility others may not be able to fulfill their obligations to us in a timely fashion or at all; the competitiveness of the graphite electrode industry; our dependence on the supply of raw materials, including decant oil, petroleum needle coke, and energy, and disruptions in supply chains for these materials; our manufacturing operations are subject to hazards; changes in, or more stringent enforcement of, health, safety and environmental regulations applicable to our manufacturing operations and facilities; the legal, compliance, economic, social and political risks associated with our substantial operations in multiple countries; the possibility that fluctuation of foreign currency exchange rates could materially harm our financial results; the possibility that our results of operations could deteriorate if our manufacturing operations were substantially disrupted for an extended period, including as a result of equipment failure, climate change, regulatory issues, natural disasters, public health crises, such as the COVID-19 pandemic, political crises or other catastrophic events, including our ability to resume our operations in Monterrey, Mexico and continue to operate once resumed; our dependence on third parties for certain construction, maintenance, engineering, transportation, warehousing and logistics services; the possibility that we are unable to recruit or retain key management and plant operating personnel or successfully negotiate with the representatives of our employees, including labor unions; the sensitivity of goodwill on our balance sheet to changes in the market; the possibility that we are subject to information technology systems failures, cybersecurity attacks, network disruptions and breaches of data security; our dependence on protecting our intellectual property and the possibility that third parties may claim that our products or processes infringe their intellectual property rights; the possibility that our indebtedness could limit our financial and operating activities or that our cash flows may not be sufficient to service our indebtedness; the possibility that restrictive covenants in our financing agreements could restrict or limit our operations; the fact that borrowings under certain of our existing financing agreements subject us to interest rate risk; the possibility that disruptions in the capital and credit markets could adversely affect our results of operations, cash flows and financial condition, or those of our customers and suppliers; the possibility that the market price of our common stock could be negatively affected by sales of substantial amounts of our common stock in the public markets, including by Brookfield Asset Management Inc. and its affiliates; the possibility that we may not pay cash dividends on our common stock in the future; and the fact that our stockholders have the right to engage or invest in the same or similar businesses as us.
These factors should not be construed as exhaustive and should be read in conjunction with the Risk Factors and other cautionary statements that are included in our most recent Annual Report on Form 10-K and other filings with the SEC. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Except as required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
Michael Dillon
216-676-2000
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HOUSTON--(BUSINESS WIRE)--PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $8,015,381.16 or $0.171971 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of September 2022. The distribution is payable December 14, 2022, to the Unit Holders of record as of November 30, 2022.
For the production month of September 2022, the owner of the Subject Interests, Hilcorp San Juan L.P. and the operator of the Subject Interests, Hilcorp Energy Company (collectively, “Hilcorp”), reported to the Trust net profits of $10,864,659 ($8,148,494 net royalty amount to the Trust).
Hilcorp reported $14,810,979 of total revenue from the Subject Interests for the production month of September 2022, consisting of $14,610,344 of gas revenues, $200,635 of oil revenues. For the Subject Interests, Hilcorp reported $3,946,320 of production costs for the production month of September 2022, consisting of $2,079,920 of lease operating expense, $1,616,788 of severance taxes and $249,612 of capital costs.
Based upon the information that Hilcorp provided to the Trust, gas volumes for the Subject Interests for September 2022 totaled 1,995,001 Mcf (2,216,668 MMBtu), as compared to 2,076,429 Mcf (2,307,144 MMBtu) for August 2022. Dividing gas revenues by production volume yielded an average gas price for September 2022 of $7.32 per Mcf ($6.59 per MMBtu), as compared to an average gas price for August 2022 of $7.54 per Mcf ($6.78 per MMBtu).
Production from the Subject Interests continues to be gathered, processed, and sold under market sensitive and customary agreements, as recommended for approval by the Trust’s Consultant. The Trustee continues to engage with Hilcorp regarding its ongoing accounting and reporting to the Trust, and the Trust’s third-party compliance auditors continue to audit payments made by Hilcorp to the Trust, inclusive of sales revenues, production costs, capital expenditures, adjustments, actualizations, and recoupments. The Trust’s auditing process has also included detailed analysis of Hilcorp’s pricing and rates charged. As previously disclosed in the Trust’s filings, these revenues and costs (along with all costs) are the subject of the Trust’s ongoing comprehensive audit process by our professional consultants and outside counsel to ensure full compliance with all the underlying operative Trust agreements and evaluating all available potential remedies in the event there is evidence of non-compliance.
Except for historical information contained in this news release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally are accompanied by words such as “estimates,” “anticipates,” “could,” “plan,” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, certain information provided to the Trust by Hilcorp, volatility of oil and gas prices, governmental regulation or action, litigation, and uncertainties about estimates of reserves. These and other risks are described in the Trust’s reports and other filings with the Securities and Exchange Commission.
San Juan Basin Royalty Trust
PNC Bank, National Association
PNC Asset Management Group
2200 Post Oak Blvd., Floor 18
Houston, TX 77056
website: www.sjbrt.com
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Ross Durr, RPL, Senior Vice President & Mineral Interest Director
Kaye Wilke, Investor Relations, toll-free: (866) 809-4553
HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) announced today that its board of directors has declared a 2022 fourth quarter dividend of twelve cents ($0.12) a share on the Company’s common stock payable on December 21, 2022, to shareholders of record at the close of business on December 8, 2022.
About Halliburton
Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on Facebook, Twitter, LinkedIn, Instagram and YouTube.
For Investors:
David Coleman
Investor Relations
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281-871-2688
For News Media:
Emily Mir
External Affairs
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281-871-2601
DUBLIN--(BUSINESS WIRE)--The "Global Unmanned Underwater Vehicles Market 2022-2026" report has been added to ResearchAndMarkets.com's offering.
The unmanned underwater vehicles market is poised to grow by $2.40 bn during 2022-2026, accelerating at a CAGR of 14.2% during the forecast period. This report on the unmanned underwater vehicles market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
This report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for stealth platforms, increasing investment in maritime surveillance capabilities, and predisposition for the deployment of UUVs.
The unmanned underwater vehicles market analysis includes type segment and geographic landscape.
The publisher's unmanned underwater vehicles market is segmented as below:
By Type
By Geographical Landscape
This study identifies the growing investments in undersea warfare capabilities as one of the prime reasons driving the unmanned underwater vehicles market growth during the next few years. Also, the emergence of 3D printing and composite materials and the advancement of electromagnetic and acoustic sensor technologies will lead to sizable demand in the market.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. This report on the unmanned underwater vehicles market covers the following areas:
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Vehicle Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/55ybsf
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of November 2022. Unitholders of record on November 30, 2022 will receive distributions amounting to $0.185205910 per unit, payable on January 31, 2023. The Trust received $265,426, which came from the New Mexico portion of the Trust’s San Juan Basin properties operated by Hilcorp San Juan LP, an affiliate of Hilcorp Energy Company and $105,067 which came from the Hugoton Royalty properties operated by Scout Energy Group V, LP. No income was received in November 2022 from the Colorado portion of the Trust’s San Juan Basin properties operated by SIMCOE LLC, an affiliate of IKAV Energy Inc or from the Colorado portion of the Trust’s San Juan Basin properties operated by Red Willow Production Company. This month, after the Trust’s withholding for cash reserves and the payment of administrative expenses, income from the distributable net profits was $345,148.
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. In addition, as further described in the Trust’s most recent filing on Form 10-Q, distributions to unitholders are expected to be materially reduced during 2022, as the Trust intends to increase cash reserves to a total of $2.0 million to provide added liquidity.
Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, prices received by working interest owners and other risks described in the Trust’s Form 10-K for the year ended December 31, 2021. Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.
Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
http://mtr.q4web.com/home/default.aspx
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--OPAL Fuels Inc. (“OPAL Fuels” or the “Company”) (Nasdaq: OPAL), a leading vertically integrated producer and distributor of renewable natural gas, today announced that it has commenced an exchange offer (the “Offer”) and consent solicitation (the “Consent Solicitation”) relating to its outstanding (i) public warrants to purchase shares of Class A common stock of the Company, par value $0.0001 per share (the “Class A common stock”), which warrants trade on The Nasdaq Capital Market under the symbol “OPALW” (the “public warrants”), and (ii) private placement warrants to purchase shares of Class A common stock (the “private placement warrants” and, together with the public warrants, the “warrants”). The purpose of the Offer and Consent Solicitation is to simplify the Company’s capital structure and reduce the potential dilutive impact of the warrants, thereby providing the Company with more flexibility for financing its operations in the future.
Exchange Offer and Consent Solicitation Relating to Warrants
The Company is offering to all holders of the warrants the opportunity to receive 0.250 shares of Class A common stock in exchange for each outstanding warrant tendered by the holder and exchanged pursuant to the Offer. Pursuant to the Offer, the Company is offering up to an aggregate of 3,861,623 shares of its Class A common stock in exchange for the warrants.
Concurrently with the Offer, the Company is also soliciting consents from holders of the warrants to amend the warrant agreement that governs all of the warrants (the “Warrant Agreement”) to permit the Company to require that each warrant that is outstanding upon the closing of the Offer be exchanged for 0.225 shares of Class A common stock, which is a ratio 10% less than the exchange ratio applicable to the Offer (such amendment, the “Warrant Amendment”). Pursuant to the terms of the Warrant Agreement, all except certain specified modifications or amendments require the vote or written consent of holders of at least 65% of each of the outstanding public warrants and the outstanding private placement warrants. Parties representing approximately 53.30% of the outstanding public warrants and approximately 100% of the outstanding private placement warrants have agreed to tender their public warrants and private placement warrants (as applicable) in the Offer and to consent to the Warrant Amendment in the Consent Solicitation, pursuant to a tender and support agreement. Accordingly, if holders of an additional approximately 11.70% of our outstanding public warrants consent to the Warrant Amendment in the Consent Solicitation, and the other conditions of the Offer are satisfied or waived, then the Warrant Amendment will be adopted. The offering period will continue until 11:59 p.m., Eastern Time, on December 16, 2022, or such later time and date to which the Company may extend (the “Expiration Date”), as described in the Company’s Schedule TO and Prospectus/Offer to Exchange (each as defined below). Tendered warrants may be withdrawn by holders at any time prior to the Expiration Date.
The Offer and Consent Solicitation are being made pursuant to a prospectus/offer to exchange, dated November 18, 2022 (the “Prospectus/Offer to Exchange”), and Schedule TO, dated November 18, 2022 (the “Schedule TO”), each of which have been filed with the U.S. Securities and Exchange Commission (the “SEC”) and more fully set forth the terms and conditions of the Offer and Consent Solicitation.
The Company’s Class A common stock and public warrants are listed on The Nasdaq Capital Market under the symbols “OPAL” and “OPALW,” respectively. As of November 17, 2022, there were (i) 25,671,390 shares of Class A common stock outstanding, (ii) 144,399,037 shares of the Company’s Class D common stock, par value of $0.0001 per share, outstanding, and (iii) a total of 15,446,494 warrants outstanding, consisting of 6,223,233 public warrants and 9,223,261 private placement warrants. Assuming all warrant holders tender their warrants for exchange in the Offer, the Company would expect to issue up to 3,861,623 shares of Class A common stock, resulting in 29,533,013 shares of Class A common stock outstanding (an increase of approximately 15.0% of total Class A common stock outstanding and an increase of approximately 2.3% in total issued share capital), and no public or private placement warrants outstanding.
The Company has engaged BofA Securities as the dealer manager for the Offer and Consent Solicitation (the “Dealer Manager”). Any questions or requests for assistance concerning the Offer and Consent Solicitation may be directed to BofA Securities at:
BofA Securities
NC1-004-03-43
200 North College Street, 3rd floor
Charlotte NC 28255-0001
Attn: Prospectus Department
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D.F. King & Co., Inc. has been appointed as the information agent for the Offer and Consent Solicitation (the “Information Agent”), and Continental Stock Transfer & Trust Company has been appointed as the exchange agent (the “Exchange Agent”).
Important Additional Information Has Been Filed with the SEC
Copies of the Schedule TO and Prospectus/Offer to Exchange will be available free of charge at the website of the SEC at www.sec.gov. Requests for documents may also be directed to the Information Agent at (800) 549-6864 (for warrant holders) or (212) 269-5550 (for banks and brokers) or via the following email address: This email address is being protected from spambots. You need JavaScript enabled to view it.. A registration statement on Form S-4 relating to the securities to be issued in the Offer has been filed with the SEC but has not yet become effective. Such securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This announcement is for informational purposes only and shall not constitute an offer to purchase or a solicitation of an offer to sell the warrants or an offer to sell or a solicitation of an offer to buy any shares of Class A common stock in any state in which such offer, solicitation, or sale would be unlawful before registration or qualification under the laws of any such state. The Offer and Consent Solicitation are being made only through the Schedule TO and Prospectus/Offer to Exchange, and the complete terms and conditions of the Offer and Consent Solicitation are set forth in the Schedule TO and Prospectus/Offer to Exchange.
Holders of the warrants are urged to read the Schedule TO and Prospectus/Offer to Exchange carefully before making any decision with respect to the Offer and Consent Solicitation because they contain important information, including the various terms of, and conditions to, the Offer and Consent Solicitation.
None of the Company, any of its management or its board of directors, or the Information Agent, the Exchange Agent, or the Dealer Manager makes any recommendation as to whether or not holders of warrants should tender warrants for exchange in the Offer or consent to the Warrant Amendment in the Consent Solicitation.
About OPAL Fuels Inc.
OPAL Fuels Inc. (Nasdaq: OPAL) is a leading vertically integrated renewable fuels platform involved in the production and distribution of renewable natural gas (“RNG”) for the heavy-duty truck market. RNG is a proven low-carbon fuel that is rapidly decarbonizing the transportation industry now while also significantly reducing fuel costs for fleet owners. OPAL Fuels captures harmful methane emissions at the source and recycles the trapped energy into a commercially viable, lower-cost alternative to diesel fuel. The Company also develops, constructs, and services RNG and hydrogen fueling stations. As a producer and distributor of carbon-reducing fuel for heavy-duty truck fleets for more than a decade, OPAL Fuels delivers complete renewable solutions to customers and production partners.
Forward-Looking Statements
Certain statements in this communication may be considered 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 are statements that are not historical facts and generally relate to future events or OPAL Fuels’ (the “Company’s”) future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, as the case may be, are inherently uncertain and subject to material change. Factors that may cause actual results to differ materially from current expectations include various factors beyond management’s control, including, but not limited to, general economic conditions and other risks, uncertainties and factors set forth in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in the Company’s quarterly report on Form 10-Q, and other filings it makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Except as required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Disclaimer
This communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities, nor shall there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law. 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.
Media
Jason Stewart
Senior Director Public Relations & Marketing
914-421-5336
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ICR, Inc.
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Investors
Todd Firestone
Vice President Investor Relations & Corporate Development
914-705-4001
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DUBLIN--(BUSINESS WIRE)--The "LPG Market Outlook" report has been added to ResearchAndMarkets.com's offering.
Featuring proprietary supply, demand and trade forecasts, this new outlook provides insight into changing trends and market patterns, allowing market participants to identify and take advantage of opportunities in the global LPG market.
The LPG Market Outlook provides a reliable, forward-looking perspective that empowers users to make critical business decisions with confidence. The publisher has been a trusted advisor to the LPG industry since the 1970s. With unrivalled expertise and the most capable team of LPG professionals in the world, the publisher is pleased to bring its wealth of knowledge to clients.
Market Insight
The LPG Market Outlook identifies where patterns of demand are changing, when demand is likely to be higher, the timing of market dynamics, the scope of shifts in demand and forward-looking arbitrage opportunities.
Unmatched Expertise
The publisher's many years of experience in LPG markets provides a deep understanding of the competitive landscape. Whether it's shipping operations, planning and logistics, cancellations, the impact of external events - weather, outages, politics or oil price spikes and more - put the publisher's insight to work for you.
Identifying Demand-Side Opportunities
The LPG Market Outlook includes 18-month demand forecasts for all major LPG importers, allowing market participants to focus on countries where there may be opportunities to sell. Information about demand changes due to seasonality, petrochemical expansions, turnarounds and overall growth high-light opportunities in importing countries.
The LPG Market Outlook identifies where patterns of demand are changing, when demand is likely to be higher, the timing of markets dynamics, the scope of shifts in demand and forward-looking arbitrage opportunities. LPG Market Outlook includes insight on trade patterns and flows, exports and imports by country and region.
In addition to the monthly report, clients receive an Excel data supplement with supply by source, total trade and domestic demand for key countries, enabling users to adjust the forecasts in line with their own books.
Key Topics Covered:
For more information about this report visit https://www.researchandmarkets.com/r/5a6b6s
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Gravel Pack: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Gravel Pack Market to Reach $1.1 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Gravel Pack estimated at US$778.5 Million in the year 2020, is projected to reach a revised size of US$1.1 Billion by 2027, growing at a CAGR of 5.4% over the analysis period 2020-2027.
Onshore, one of the segments analyzed in the report, is projected to record 5.7% CAGR and reach US$691.1 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Offshore segment is readjusted to a revised 5.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $212.1 Million, While China is Forecast to Grow at 8.1% CAGR
The Gravel Pack market in the U.S. is estimated at US$212.1 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$225.3 Million by the year 2027 trailing a CAGR of 8.1% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.
What's New for 2022?
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 33 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/qzs6zw
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Drivers of the automaker’s first all-electric SUV will have the option to redeem the EVgo charging credit or a home charger installation credit
LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO) (EVgo), one of the nation’s largest public fast charging networks for electric vehicles (EVs), announced a commercial agreement with Subaru of America, Inc. to provide drivers of the 2023 Solterra EV SUV with the option to receive a $400 charging credit on the EVgo public fast charging network. This announcement follows the company’s previous news of becoming Subaru’s preferred EV charging partner in the beginning of 2022.
“Subaru and EVgo share a commitment to delivering first-in-class customer experiences and combatting climate change,” said Jonathan Levy, Chief Commercial Officer at EVgo. “It’s a natural fit for Subaru and EVgo to bring Solterra drivers a convenient and reliable charging experience on EVgo’s network as they start their electric journey.”
Customers who purchase or lease a new 2023 Subaru Solterra EV SUV will have the option to select $400 of pre-paid charging credits with EVgo* or a home charger installation credit. Solterra customers will receive an email from Subaru to redeem their credit of choice.
With EVgo’s more than 850 public fast charging locations and 1,200+ L2 charging stalls, Subaru drivers will have access to more than 46,000 L2 and DC fast charge public chargers through EVgo, and its roaming partners at convenient locations across the U.S. Subaru EVgo account holders can also enjoy a seamless charging experience with Autocharge+ and 24/7 customer support from the EVgo Charging Crew while on their urban and outdoor adventures.
“With the upcoming deliveries of the Solterra, we wanted to help provide a seamless ownership experience for drivers, and we knew that EVgo provided a strong platform for our customers,” said Robert Brennan, Electric Vehicle Sales Strategy Manager at Subaru. “Our collaboration with EVgo to offer a $400 EVgo charging credit gives our drivers more confidence in their transition to electric and the ability to choose the charging option that best fits their lifestyle.”
EVgo’s industry-leading network is powered by 100% renewable electricity, providing environmentally conscious drivers even more peace of mind. To date, EVgo stations have powered more than 280 million electric miles.
For more information around the locations of fast chargers within EVgo’s charging network, visit www.evgo.com.
*Receive $400 charging credit on the EVgo network with the purchase or lease of a new model year 2023 Subaru Solterra. The $400 complimentary credit will be applied to EVgo per-minute or per-kwh (in select regions) prepaid rates (plus applicable taxes and fees) on EVgo chargers only. Charging rates will vary by region and can be found at evgo.com/pricing. All rates are subject to change. Rates and fees will vary on non-EVgo chargers accessible through the EVgo app. Please see walk-up rates at non-EVgo chargers through the EVgo app prior to initiating a charging session. At the expiration of the offer (two years from date of purchase/lease), customer will roll over to a Pay As You Go Plan. Customers are responsible for any and all charging costs beyond the credit.
About Subaru of America, Inc.
Subaru of America, Inc. (SOA) is a wholly owned subsidiary of Subaru Corporation of Japan. Headquartered at a zero-landfill office in Camden, N.J., the company markets and distributes Subaru vehicles, parts and accessories through a network of more than 630 retailers across the United States. All Subaru products are manufactured in zero-landfill plants and Subaru of Indiana Automotive, Inc. is the only U.S. automobile manufacturing plant to be designated a backyard wildlife habitat by the National Wildlife Federation. SOA is guided by the Subaru Love Promise, which is the company's vision to show love and respect to everyone, and to support its communities and customers nationwide. Over the past 20 years, SOA and the SOA Foundation have donated more than $270 million to causes the Subaru family cares about, and its employees have logged nearly 78,000 volunteer hours. As a company, Subaru believes it is important to do its part in making a positive impact in the world because it is the right thing to do.
For additional information visit media.subaru.com. Follow us on Facebook, Twitter, and Instagram.
About EVgo
EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since its founding in 2010, EVgo has led the way to a cleaner transportation future and its network has been powered by 100% renewable energy since 2019 through renewable energy certificates. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network features over 850 fast charging locations – currently serving over 60 metropolitan areas across more than 30 states – and continues to add more DC fast charging locations through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables world-class charging experience where drivers live, work, travel and play.
For Investors:
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DUBLIN--(BUSINESS WIRE)--The "Global Submarine Market 2022-2026" report has been added to ResearchAndMarkets.com's offering.
The submarine market is poised to grow by $8.24 bn during 2022-2026, accelerating at a CAGR of 5.36% during the forecast period. This report on the submarine market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
This report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by growing arms race among countries.
The submarine market analysis includes the type segment and geographic landscape.
The publisher's submarine market is segmented as below:
By Type
By Geographical Landscape
This study identifies the multi-mission submarines as one of the prime reasons driving the submarine market growth during the next few years. Also, collaborative programs and the integration of lithium-ion (Li-ion) batteries will lead to sizable demand in the market.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. This report on the submarine market covers the following areas:
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/bmircf
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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AED 2.5 Billion Strategic Investment also Offers Exposure to Maritime Activities in the Mediterranean Region and Port Facilities in Spain
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--AD Ports Group (ADX: ADPORTS) today announced that it has acquired Noatum, a global integrated logistics platform with a presence in 26 countries and LTM revenue and EBITDA of AED 6.91 billion (EUR 1.80 billion) and AED 555 million (EUR 145 million), respectively.
The total purchase consideration (Enterprise Value) for 100% ownership amounts to AED 2.5 billion (EUR 660 million), implying an LTM EV/EBITDA of 4.6x. This value and earnings accretive acquisition, which significantly broadens AD Ports Group’s global footprint and positions it among the leading logistics and freight forwarding companies in the world, will be fully funded through a new acquisition loan.
Recognising Noatum’s high growth potential and capacity to scale, AD Ports Group intends to create a market-leading international logistics brand, merging its existing logistics business with Noatum to create a significant presence in the region and enhancing services across the company’s global footprint. Moving forward, Noatum will lead AD Ports Group’s Logistics Cluster, consolidating the company’s existing logistics offering into its operations.
This will be AD Ports Group’s third major international acquisition in 2022, following the acquisition of a 70 percent equity stake in Transmar and TCI in September, and the announcement in November of its acquisition of an 80% equity stake in Dubai-based Global Feeder Shipping (GFS).
Noatum, whose origins date back to 1963, operates in three business areas – Logistics, Maritime, and Port Terminals – with market-leading positions in Spain and Turkey and a significant presence in the US, UK, China, and Southeast Asia.
Noatum’s global Logistics business specialises in comprehensive freight management, project logistics, contract logistics, international supply chain management, customs, and e-solutions, with offices and a wide network of agents around the world.
In particular, Noatum has advanced capacities in heavy lift logistics, which AD Ports Group aims to bring to the region.
The company’s Terminals operations include 15 Ro-Ro, dry bulk, general cargo and container terminals in Spain, supported by highly professional management, while its Maritime division provides shipping agency services, including outsourcing and ancillary services, and cargo services, such as liquid bulk, breakbulk cargo, reefer and dry cargo.
Despite its geographical diversification, the majority (75%) of Noatum’s revenues are EUR and USD denominated.
The company, which employs more than 2,600 professionals, provides tailored multi-modal transport solutions, comprehensive logistics services, and advanced port operations across its key markets, and aligns well with AD Ports Group’s integrated business model.
In addition, the company has specialised automotive, project cargo, and port logistics divisions and offers comprehensive supply chain solutions in the oil & gas, renewable energies, food, industrial manufacturing, pharma and healthcare, and retail industries with customised solutions for clients.
Some of the revenue and costs synergies of the acquisition include joint purchasing, stronger relationships with shipping lines to attract them to the group’s terminals, expansion of the agency business by leveraging Noatum’s Maritime business, integration of corporate services and functions, transfer of best practices, and best-in-class technology.
Subject to regulatory approvals, the transaction is expected to close in H1 2023. As part of the transaction, Noatum’s management is locked in for a period of three years to ensure smooth integration.
H.E. Falah Mohammed Al Ahbabi, Chairman of AD Ports Group, said: “Under the direction of our wise leadership, AD Ports Group continues to extend our global footprint through value-adding acquisitions and partnerships with market leaders. This ambitious acquisition brings a major global logistics platform into the AD Ports Group family, significantly enhancing our global connectivity and extending the range of maritime, logistics and ports solutions we can offer as we continue to pursue a determined strategy for growth. This acquisition makes AD Ports Group one of the most significant global players in the finished vehicle logistics, which we intend to expand in our home and core markets.”
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “We thank the leadership of the UAE for their guidance and support for this historic acquisition, which is set to be one of the most significant in the industry this year. Bringing Noatum into our integrated network of businesses will add scale and new layers of expertise, supporting both our global ambitions and our contribution to economic diversification within the UAE. Noatum operates an asset-light model with a high cash conversion rate and will make an immediate contribution to our financials, at the same time as positioning us for international expansion. We will leverage the acquisition of Noatum to build a strong international logistics brand with deep roots in this region.”
Rothschild & Co acted as the financial advisor and A&O as the legal advisor while Bain & Co completed the commercial due diligence and PwC the financial and tax due diligence for AD Ports Group in this transaction.
About AD Ports Group:
For more information, please visit: adportsgroup.com
Follow AD Ports Group on:
LinkedIn: https://www.linkedin.com/company/adportsgroup
Instagram: https://instagram.com/adportsgroup
Facebook: https://www.facebook.com/adportsgroup
Twitter: https://twitter.com/adportsgroup
YouTube: https://www.youtube.com/c/adportsgroup
*Source: AETOSWire
Sana Maadad
Director Corporate Communications - AD Ports Group
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AD Ports Media Office
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DUBLIN--(BUSINESS WIRE)--The "Silicon Battery Market Research Report by Capacity, Application, Region - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Silicon Battery Market is projected to grow with a significant CAGR in the forecast period. Economic development and substantial infrastructure development have constituted regional revenue generation. Further, the patterns associated with domestic production, import and export, and consumption have helped market participants to analyze and capitalize on potential opportunities. Besides, the qualitative and quantitative parameters provided in the report with detailed analysis highlights the driving and restraining factors of the Global Silicon Battery Market.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Market Segmentation & Coverage:
This research report categorizes the Silicon Battery to forecast the revenues and analyze the trends in each of the following sub-markets:
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Silicon Battery Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Competitive Scenario:
The Competitive Scenario provides an outlook analysis of the various business growth strategies adopted by the vendors. The news covered in this section deliver valuable thoughts at the different stage while keeping up-to-date with the business and engage stakeholders in the economic debate. The competitive scenario represents press releases or news of the companies categorized into Merger & Acquisition, Agreement, Collaboration, & Partnership, New Product Launch & Enhancement, Investment & Funding, and Award, Recognition, & Expansion. All the news collected help vendor to understand the gaps in the marketplace and competitor's strength and weakness thereby, providing insights to enhance product and service.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Silicon Battery Market, by Capacity
7. Silicon Battery Market, by Application
8. Americas Silicon Battery Market
9. Asia-Pacific Silicon Battery Market
10. Europe, Middle East & Africa Silicon Battery Market
11. Competitive Landscape
12. Company Usability Profiles
13. Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/2mmv9q
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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THE WOODLANDS, Texas--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) (the “Company”) today announced that Steven Kobos, President and Chief Executive Officer, will participate in a breakout session at the 2022 Wells Fargo 21st Annual Midstream & Utilities Symposium at 12:55 p.m. Eastern Time on December 7, 2022.
A live audio webcast of the presentation and an archived recording will be available on the Investors page of the Company’s website at www.excelerateenergy.com. Management will also be available onsite for one-on-one and small group meetings with investors.
ABOUT EXCELERATE ENERGY:
Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with an objective of delivering rapid-to-market and reliable LNG solutions to customers. The Company offers a full range of flexible regasification services from FSRUs to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Helsinki, Ho Chi Minh City, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit www.excelerateenergy.com.
Investors
Craig Hicks
Excelerate Energy
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Media
Stephen Pettibone / Frances Jeter
Sard Verbinnen & Co
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Ontario mine workers are being exposed to harmful levels of diesel particulate: Ontario’s Occupational Exposure Limit for diesel particulate must change to protect workers’ health
SUDBURY, Ontario--(BUSINESS WIRE)--The United Steelworkers Local 6500 has partnered with the Centre for Research in Occupational Safety and Health (CROSH) at Laurentian University and Occupational Health Clinics for Ontario Workers (OHCOW) to work to change Ontario’s legislation for diesel particulate exposure in mining.
Diesel is a known human carcinogen, as such keeping exposure to a minimum is important. Currently, Ontario has the highest Occupational Exposure Limit (OEL) for diesel particulate in Canada, at 400µg/m3. Ontario mine workers are being exposed to harmful levels of diesel particulate. The USW Diesel Particulate Project is advocating for the Ministry of Labour, Immigration, Training, and Skills Development to change the Mine OEL to 20µg/m3, which is the level recommended by both Carcinogen Exposure Canada (CAREX) and the Occupational Cancer Research Centre.
Ontario lags behind the United States, Europe, and Australia in lowering its Occupational Exposure Limit, even though countries and provinces measure diesel particulate levels in different ways.
“Occupational disease and fatalities are underrecognized,” said This email address is being protected from spambots. You need JavaScript enabled to view it., president of USW Local 6500. “We know that Diesel Particulate can cause lung cancer and we know that miners have higher rates of lung cancer compared to other workers, the Ministry of Labour, Immigration, Training and Skills Development needs to act to lower the OEL for diesel in mining to prevent these work-related fatalities.”
There will be a townhall at the USW Local 6500 Union Hall (66 Brady St, Sudbury, ON) on December 8. Doors open at 6 p.m.; representatives from USW 6500, CROSH, and community volunteers will be available to answer or assist any WSIB requests including documenting exposures. Project and community leaders will give an overview presentation starting at 7 p.m. All are welcome to attend.
USW Local 6500 and CROSH have developed and distributed educational materials to raise awareness about the hazards of exposure to diesel particulate. They are encouraging workers and their family members to fill out WSIB exposure forms on their diesel exposure, with the goal of showing the Ministry of Labour, Immigration, Training and Skills Development the seriousness of this workplace hazard.
USW Local 6500 has representatives standing by via email and phone to answer questions and to help workers fill out the appropriate WSIB forms. Additionally, USW Local 6500 representatives are currently visiting local stores and shopping centres to raise awareness and answer questions from the public.
“I strongly encourage everyone to support the USW Diesel Particulate Project,” said Janice Martell, lead advocate for the McIntyre Powder Project. “Based on the current occupational exposure limit, mine workers can be exposed to 20 times more diesel particulate than the scientifically recommended level. Workers are urged to fill out exposure forms to protect their health.”
Background:
Diesel exhaust is made up of gas and particles. The particles are essentially the ‘soot’ of the exhaust. Diesel particles are small enough to enter the lungs during breathing and the smallest particles are able to get into the deepest parts of the lungs and can then enter the rest of the body. Within hours to days, exposure to high levels of diesel particulate can cause headaches; dizziness; irritation of eyes, nose, and throat; wet cough and phlegm; running nose and allergy symptoms; and asthma attack.
These short-term health risks can impact daily, quality-of-life for workers. Years of diesel particulate exposure can or may cause cancer; cardiovascular disease (CVD); idiopathic pulmonary fibrosis (IPF); chronic obstructive pulmonary disease (COPD)/emphysema; onset of asthma or worsening of asthma and worsening of diabetic comorbidities.
Educational materials and project details are available on the project website: www.dieselparticulateproject.com
The project is supported with funds from the USW Family and Community Education Fund.
About United Steelworkers 6500
United Steelworkers Local 6500 has proudly been representing hourly mine and mining plant workers in the Sudbury Basin for 60 years. The membership includes over 2,500 active members and nearly 6,600 pensioners. In 2020, the local opened a dialogue with Ontarian stakeholders and government officials, about the fatal health hazard of Diesel Particulate in our Ontario Mines. To date, the legislation has not changed.
Project Media Contact:
Sean Staddon, WSIB Worker Representative
USW Local 6500
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(705) 675-3381
HAMILTON, Bermuda--(BUSINESS WIRE)--Friday, November 18, 2022 – Triton International Limited (NYSE: TRTN) today announced that Michael Pearl has been appointed Triton’s Chief Financial Officer, effective January 1, 2023. Mr. Pearl currently serves as Triton’s Senior Vice President, Treasurer. He will succeed John Burns, who as previously announced, will retire at the end of 2022 after more than 25 years with Triton. Mr. Burns will remain with Triton in a consulting role following his retirement to ensure a smooth transition.
Mr. Pearl joined Triton in 2009 and has led the company’s Treasury function since 2016. He played an integral role in helping to drive the successful Triton-TAL merger integration and has also been responsible for other significant areas within the finance organization, including credit and risk management, business development and financial planning and analysis. Before Triton, Mr. Pearl worked for a number of companies in the financial sector, including National City Bank, Wachovia Bank, and S&P Global. Mr. Pearl received an M.B.A. from the University of Michigan and a B.A. from Colby College.
Brian Sondey, Chief Executive Officer of Triton commented “Michael has been a significant contributor to the success of our company. He was instrumental in transforming and strengthening our capital structure over the last few years and driving significant improvements in our borrowing costs. Michael’s appointment reflects the deep bench of talent we have developed at Triton, and he will have an exceptional team supporting him in his new role. We look forward to benefitting from Michael’s experience and capabilities as we continue to build on our strong financial position and create value for our shareholders.”
Mr. Sondey added, “I also want to again thank John for his many contributions to Triton as an exceptional and valued leader, colleague and friend. We are truly grateful for his service and wish him all the best in his well-deserved retirement.”
About Triton International Limited
Triton International Limited is the world’s largest lessor of intermodal freight containers. With a container fleet of over 7 million twenty-foot equivalent units ("TEU"), Triton’s global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis.
Important Cautionary Information Regarding Forward-Looking Statements
Certain statements in this release, other than purely historical information, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, statements relating to Triton’s business, future performance and the management transition discussed in this release. Statements that include the words "expect," "intend," "plan," "seek," "believe," "project," "predict," "anticipate," "potential," "will," "may," "would" and similar statements of a future or forward-looking nature may be used to identify forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties, many of which are beyond Triton's control. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements. These factors include, without limitation, economic, business, competitive, market and regulatory conditions; risks related to management transitions; and other risks and uncertainties, including those set forth in the section entitled “Risk Factors” in our most recent annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) and subsequent filings with the SEC. Except to the extent required by applicable law, we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Andrew Greenberg
Senior Vice President
Business Development & Investor Relations
(914) 697-2900
NOIDA, India--(BUSINESS WIRE)--#AxaClimate--HCLTech, a global technology company, announced that it has launched the HCLTech Sustainability School and its first comprehensive climate literacy learning series. The series, developed by Axa Climate, has been designed to raise awareness of the impact of climate change among HCLTech’s 220,000+ employees.
The HCLTech Sustainability School aims to build sustainability champions amongst its employees across the globe. With climate change emerging as one of the biggest challenges facing humanity, the learning series will educate employees on how each of them can contribute to the efforts of governments, NGOs and enterprises to address the causes of climate change.
HCLTech is committed to supercharging progress toward a sustainable planet through its actions as a company and pacts with stakeholders. The Company is a signatory to the Climate Pledge and is committed to achieving net-zero by 2040, a decade ahead of the Paris Agreement goals. The Science Based Targets initiative (SBTi) has validated and commended HCLTech’s ambitious 1.5°C pathway targets.
“HCLTech Sustainability School is another validation of our environmental commitments. It will give HCLTech employees an understanding of climate change and how it impacts their lives. Having completed the course, our employees will understand how to act responsibly within their homes and workplace and take simple measures to reduce their carbon footprints. Our people can be our biggest champions on sustainability and this learning series will provide them with practical tools so they can be agents of change within the company and their own communities,” says Santhosh Jayaram, Global Head, Sustainability, HCLTech.
To be launched in two phases, the course will cover topics such as the impending threats to biodiversity, the exploitation of natural resources, and the impact on livelihoods across geographical regions. The second phase of the course will help participants understand how to reduce their own carbon footprints and look at innovative ways to reduce carbon emissions within HCLTech and with our clients. HCLTech’s sustainability strategy is based on three guiding principles:
The company has made demonstrable progress on its sustainability commitments:
About HCLTech
HCLTech is a global technology company, home to 219,000+ people across 54 countries, delivering industry-leading capabilities centered around digital, engineering and cloud, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 months ending September 2022 totalled $12.1 billion. To learn how we can supercharge progress for you, visit hcltech.com
Meenakshi Benjwal, Americas
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Elka Ghudial, EMEA
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Devneeta Pahuja, India and APAC
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DUBLIN--(BUSINESS WIRE)--The "Electric Boat Market By Propulsion, By Battery Type, By Range, By Power, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to the report the electric boat market was valued at $5.0 billion in 2021, and is estimated to reach $16.6 billion by 2031, growing at a CAGR of 12.9% from 2022 to 2031.
Electric boats utilize battery power to carry off marine operation. They often utilize renewable energy sources such as wind turbines, solar panels, and towed generators. They utilize marine-grade lead-acid, nickel-based and lithium-ion batteries for enhanced operational efficiency. Electric boats or vessels are generally available in diesel-electric, pure electric, or hybrid variants. In addition, electric boats comprise key components such as electric charger, battery bank, controller, and electric motor.
They operate silently as they do not use internal combustion; are cost-effective; have minimal fuel requirements; and are highly environment friendly. Moreover, these boats are mainly used for recreational purposes and ferrying a small number of passengers. Sometimes these boats are also utilized as rescue vessels to carry out sea operations efficiently.
The market is driven by introduction of regulations regarding emission of greenhouse gases, increase in demand for luxury vehicles with greater cabin comfort, and rise in production & sale of automotive. However, rise in demand for electric vehicles is the factor acting as a hindrance in the growth of the global electric boat market. On the contrary, increase in demand for multi-filtration system, and technological advancements are expected to create ample growth opportunities for the global electric boat market.
With increase in adoption of electric boats across the globe, need for charging infrastructure is also growing subsequently. Government and private organizations in several countries are working closely to setup electric boat charging infrastructure in their region to support e-mobility.
For instance, Aqua superpower, a UK based company has been rapidly building its network of marine "superchargers" across the globe. Built to the highest IP65 standards, each station provides AC and DC fast charger with a high output of 150kW, enabling fast recharging of electric boats.
Key Benefits
Key Market Segments
By Propulsion
By Battery Type
By Range
By Power
By Application
By Region
Key Market Players
For more information about this report visit https://www.researchandmarkets.com/r/ejmv75
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Europe Green Hydrogen Market Size, Segments, Outlook and Revenue Forecast 2022-2030 by Technology, Application, Generation and Delivery Mode and Major Countries" report has been added to ResearchAndMarkets.com's offering.
The Europe Green Hydrogen Market is expected to record a positive CAGR of ~40% during the forecast period (2022-2030), due to the rising demand for renewable energy sources, notably in electricity generation.
Rising demand for cleaner energy from all major industry sectors and escalating environmental issues arising from carbon emissions are major growth drivers for Europe's Green Hydrogen market. For instance, according to Eurostat, a statistical office of the European Union located in Luxembourg, renewable energy sources accounted for 37% of total EU electricity consumption in 2020, up from 34% in 2019.
In addition, wind and hydropower accounted for more than two-thirds of total renewable electricity generation (36% and 33%, respectively), while solar power increased from 1% in 2008 to 8% in 2020.
Emergence of advanced electrolysis technologies is likely to create opportunities for a wide range of industries/sectors in the forthcoming years to reliably produce green hydrogen at a low cost from outages and evolving renewable energy sources. For instance, the EU hydrogen strategy proposed by the European Commission, plans for increasing renewable hydrogen production via electrolysis to 10 million tonnes of hydrogen by 2030, with an installed capacity of 40 gigatonnes (GW) electrolyzers.
The high cost of producing hydrogen in comparison to fossil fuel equivalents is the most significant barrier to widespread green hydrogen adoption.
Scope of the Report
By Technology
By Application
By Generation and Delivery Mode
By Geography
Companies Mentioned in the Report:
Key Competitors in Europe Green Hydrogen Market
Notable Emerging Companies Mentioned in the Report
Frequently Asked Questions
What is the Study Period of this Market Report?
What is the Future Growth Rate of Europe Green Hydrogen Market?
What are the Key Factors Driving the Europe Green Hydrogen Market?
Which is the Largest Technology Segment within the Europe Green Hydrogen Market?
Key Topics Covered:
1. Executive Summary
2. Market Overview and Key Trends Impacting Growth
3. Total Europe - Market Segmentation by Technology, Historic Growth, Outlook & Forecasts
4. Total Europe- Market Segmentation by Application, Historic Growth, Outlook & Forecasts
5. Total Europe - Market Segmentation by Generation and Delivery Mode, Historic Growth, Outlook & Forecasts
6. Industry/Competition Analysis - Competitive Landscape
7. Key Competitor Profiles (Company Overview, Product Offerings, SWOT Analysis)
8. Geographic Analysis & Major Countries Market Historic Growth, Outlook, and Forecasts
9. Industry Expert's Opinions/Perspectives
10. Analyst Recommendation
11. Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/tphfh1
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Oil Industry in GCC Region Market Research Report" report has been added to ResearchAndMarkets.com's offering.
Crude oil is one of the most sought-after commodities in the world today. Its wide array of uses ranges from energy generation to its application as a feedstock for transportation fuels and petrochemical products such as plastics, solvents, and adhesives. Hence the oil industry is one of the most powerful branches of the world economy and changes in benchmark oil prices have great implications for most manufacturing sectors and consumers.
GCC countries have combined proven reserves of 497 billion barrels of crude oil, representing approximately 34% of the world's estimated proven crude oil reserves.
While state-owned enterprises produce much of the oil, many international oil companies engage in oil production and related activities in the Middle East through joint ventures, production-sharing agreements, and other business models.
In 2019, the Middle East produced around 30.3 million barrels of oil daily. The volume of oil production includes crude oil, shale oil, oil sands and NGLs (the liquid content of natural gas, where this is recovered separately). It excludes liquid fuels from other sources such as biomass and coal derivatives.
In 2019, the Gulf Petrochemicals and Chemicals Association (GPCA), the voice of the chemical industry in the Arabian Gulf, highlighted the growth and success of the chemical industry in the Gulf Region outlined that the GCC chemical industry achieved revenue of $84.1 billion USD in 2018, with production capacity reaching 174.8 million tons, signaling an increase of 2.8% in terms of contribution to the regional GDP. Due to the increased demand for chemicals by the GCC producers across the globe, the production capacity of the GCC chemical industry was also added by 13.3 million tons in 2018.
Based on Region, Abu Dhabi & Al Ain and Sharjah & Northern Emirates capture the majority share in the UAE Oilfield Chemicals market. The surging crude oil production in the region, extensive investment toward oil & gas development projects and growing alliances between countries to promote oil exploration are anticipated to actively contribute toward the growth of the Oilfield Chemicals market in the coming years. Oilfield chemicals are used in drilling and exploration of gas and oil to make these operations better by improving the efficiency and productivity of the oil drilling process. In 2019, UAE exported around $8.69 billion USD and imported $15.61 billion USD chemicals.
SNOC is Sharjah's most reliable energy provider and one of the leading natural gas, condensate and LPG producers in the UAE. The company has three gas condensate fields, a large gas processing plant at Aajaa that connected and delivers gas to the Northern Emirates for the past 35 years, as well two export terminals located at Hamriyah.
Whether as a fuel or a feedstock:
oil is an integral part of your daily life. People use crude oil and petrochemicals for many different purposes. Crude oil is a base component of vehicles, construction, clothing and accessories, transportation fuels, household products, furniture, beauty and medical products, sport equipment, electronics, toys, office products and agriculture.
97% of oil and gas companies around the world have defined their digital investment programs and the business value they will generate by 2025. With advancements in industry 4.0 innovations, the oil & gas (O&G) industry trends are set to transform the industry in terms of efficiency, safety, and smart solutions.
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Crude Oil Market Analysis in Gulf Region
4. Market Size
5. Market Growth
6. Market Trends
7. Chemicals for the Oil Industry
8. Market Size
9. Market Growth
10. Sharjah National Oil Cooperation (SNOC)
11. Sharjah Licence Round
12. Vendor Registration to SNOC
13. Buy Oil from Saudi Arabia
14. Saudi Aramco
15. Become a Customer of Saudi Aramco
16. Customer Analysis
17. Crude Oil as A Base Component of Products
18. Crude Oil and Petrochemicals in Transportation Fuels
19. Crude Oil and Petrochemicals in Plastics
20. Competitive Analysis
21. Dar Al Amal Diesel Trading LLC
22. Trescorp Alliance Pte LTD
23. Alchemist Energy Trading
24. Panorama Oil Products Trading LLC
25. Innova Refining & Trading
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/tfwrjd
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
TUCSON, Ariz.--(BUSINESS WIRE)--UniSource Energy Services is seeking updated electric rates that would take effect in early 2024, its first such request in seven years.
UniSource’s proposed rates would help cover the cost of investments made since 2014 to support a stronger, more secure energy grid. These investments include new substations, transmission and distribution system upgrades, and critical maintenance and improvements for generating resources. The new rates also would reflect higher fuel and energy prices UniSource has paid to help serve customers’ energy needs.
“Although we’ve had to pass along higher market energy prices in recent years, I’m proud we’ve been able to hold the line on our own expenses for so long,” said Susan Gray, UniSource’s President and CEO. “We’re doing everything we can to keep service affordable for customers, but we will need higher rates in 2024 to cover the increased cost of providing safe, reliable service for customers.”
UniSource’s request, filed today with the Arizona Corporation Commission (ACC), would increase the average monthly bills of typical residential customers by $18.52 when new rates take effect in 2024. This projected increase will vary based on usage, and customers’ total bills also will be affected by changes to fuel and purchased power rates between now and then.
Customers can mitigate the impact of higher energy costs through energy efficiency, possibly in combination with time-of-use pricing plans that offer lower rates during off-peak periods. UniSource also can help qualifying customers find payment assistance.
UniSource’s continual efforts to improve efficiencies have helped to keep costs as low as possible despite rising prices for equipment, construction materials and other necessities since 2014, the year upon which current rates are based. The company limited the average annual growth of its operations and maintenance costs to less than 2.1 percent between 2015 and 2021 despite average annual inflation of 2.5 percent during the same period.
Serving Energy Needs
Peak demand on UniSource’s energy grid has increased by 16 percent since 2014, driven by more extreme weather events and a nearly 8-percent increase in customers. UniSource anticipates that peak usage will continue to increase by about one percent annually over the next five years, driving the need for continued grid investments.
UniSource’s proposed rates support investments that will help the company manage long-term energy costs, reduce dependence on purchased power and achieve greater self-reliance with a better-balanced energy portfolio. These objectives were outlined in the company’s 2020 Integrated Resource Plan, which the ACC acknowledged as being in the public interest.
The proposed rates would allow more gradual recovery of anticipated costs for investments in solar arrays, battery storage systems and other energy resources. Passing along some of these costs as they occur will avoid larger impacts later that result from accumulations over longer periods between rate requests.
Assisting Customers
UniSource is seeking to offer an $18 monthly discount – up from $16 currently – for qualifying low-income customers whose household income does not exceed 200 percent of the federal poverty level. The proposed rates also would eliminate transaction fees for most credit card payments from residential and small business customers as well as for cash payments made at third-party payment processors.
UniSource has supported customers during the ongoing pandemic with increased philanthropic giving, delayed recovery of higher energy expenses, direct bill credits and a campaign to connect qualifying customers to expanded federal aid and other bill payment assistance. Including all federal funding, contributions and other resources, UniSource has directed nearly $10 million in assistance to customers and our community since 2020.
“We know our community has faced real challenges over these past few years because we’ve been there with support every step of the way,” Gray said. “Our systems and employees have delivered admirable reliability and strong service for customers throughout this extraordinarily difficult period. I am very proud of our company’s performance in living up to our values and the expectations of our customers.”
Additional information about UniSource’s rate proposal is available online.
UniSource provides electric service to more than 100,000 customers in Mohave and Santa Cruz counties through UNS Electric, Inc., a wholly owned subsidiary. It also provides natural gas service to more than 165,000 customers in northern and southern Arizona through subsidiary UNS Gas, Inc. For more information about UniSource, visit uesaz.com. UniSource and its parent company, UNS Energy, are subsidiaries of Fortis Inc. (TSX/NYSE: FTS), which owns utilities that serve more than 3 million customers across Canada and in the United States and the Caribbean. To learn more, visit fortisinc.com.
Joseph Barrios
(520) 884-3725
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