ELKHART, Ind.--(BUSINESS WIRE)--LCI Industries (NYSE: LCII), which, through its wholly-owned subsidiary, Lippert Components, Inc. ("LippertTM"), supplies a broad array of highly engineered components for the leading original equipment manufacturers ("OEMs") in the recreation and transportation product markets, and the related aftermarkets of those industries, today announced the acquisition of Kaspar Ranch Hand Equipment, LLC (“Ranch Hand®”), a South Texas based manufacturer of custom bumpers, grill guards, and steps for the automotive aftermarket. Prior to the sale, Ranch Hand was a subsidiary of the Kaspar Companies, a fifth-generation family-owned company headquartered in Shiner, Texas since 1898.
Founded in 1986, Ranch Hand pioneered the heavy-duty truck accessory market by being one of the first manufacturers that designed and engineered custom equipment specifically matched to the owners’ vehicles. “Protected from the unpredictable” is a motto that represents Ranch Hand’s products that not only enhance the look of the vehicle but also serve as highly engineered steel barriers that help protect that vehicle’s passengers in a head-on accident. Ranch Hand’s full line of custom fit bumpers and accessories accommodate OEM sensors without compromising the truck’s safety features, making it as functional at work as it is on the road.
“The CURT Group acquisition in 2019 began our official entry into the automotive accessory aftermarket, and with the Ranch Hand acquisition, we are further supporting our dedication to becoming a large player in this space,” said Jamie Schnur, Group President of Lippert’s Aftermarket business. “Ranch Hand’s brand presence in the space is well-respected. Its front bumpers are viewed by consumers as a premium accessory, in large part due to the added level of safety for the truck owner.”
Rock Lambert, President of CURT, commented, “We are extremely pleased to add Ranch Hand to our portfolio of premium brands. Ranch Hand is synonymous with front-end protection and has enjoyed a leadership position in the automotive accessory aftermarket industry for years. We believe that our design, manufacturing, and distribution expertise will help the brand to continue to expand its reach and pursue long-term success. We are very excited to add the Ranch Hand team to our existing group of outstanding team members.”
“We have worked hard to grow the Ranch Hand brand over the last 20 years and are glad that it is in the hands of a company with the success record of Lippert,” said Jason Kaspar, Chief Executive Officer of the Kaspar Companies. Continued Kaspar, “Ranch Hand products, as well as its culture, fits very nicely into Lippert’s portfolio of automotive products. The two companies' core values are very much in sync, where their team members feel supported and are treated like family. In the end this was very important to us as we made this decision. We thank all the Ranch Hand team members for their hard work and dedication and rest assured they are in good hands with the family at Lippert.”
About LCI Industries
LCI Industries, through its wholly-owned subsidiary, Lippert, supplies, domestically and internationally, a broad array of highly engineered components for the leading OEMs in the recreation and transportation product markets, consisting primarily of recreational vehicles and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; boats; trains; manufactured homes; and modular housing. The Company also supplies engineered components to the related aftermarkets of these industries, primarily by selling to retail dealers, wholesale distributors, and service centers. Lippert's products include steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; and other accessories. Additional information about Lippert and its products can be found at www.lci1.com.
Forward-Looking Statements
This press release contains certain "forward-looking statements" with respect to our financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions, plans and objectives of management, markets for the Company's common stock, the impact of legal proceedings, and other matters. Statements in this press release that are not historical facts are "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, and involve a number of risks and uncertainties.
Forward-looking statements, including, without limitation, those relating to our future business prospects, net sales, expenses and income (loss), capital expenditures, tax rate, cash flow, financial condition, liquidity, covenant compliance, retail and wholesale demand, integration of acquisitions, R&D investments, and industry trends, whenever they occur in this press release are necessarily estimates reflecting the best judgment of the Company's senior management at the time such statements were made. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those described in the forward-looking statements. These factors include, in addition to other matters described in this press release, the impacts of COVID-19, or other future pandemics, on the global economy and on the Company's customers, suppliers, employees, business and cash flows, pricing pressures due to domestic and foreign competition, costs and availability of, and tariffs on, raw materials (particularly steel and aluminum) and other components, seasonality and cyclicality in the industries to which we sell our products, availability of credit for financing the retail and wholesale purchase of products for which we sell our components, inventory levels of retail dealers and manufacturers, availability of transportation for products for which we sell our components, the financial condition of our customers, the financial condition of retail dealers of products for which we sell our components, retention and concentration of significant customers, the costs, pace of and successful integration of acquisitions and other growth initiatives, availability and costs of production facilities and labor, team member benefits, team member retention, realization and impact of expansion plans, efficiency improvements and cost reductions, the disruption of business resulting from natural disasters or other unforeseen events, the successful entry into new markets, the costs of compliance with environmental laws, laws of foreign jurisdictions in which we operate, other operational and financial risks related to conducting business internationally, and increased governmental regulation and oversight, information technology performance and security, the ability to protect intellectual property, warranty and product liability claims or product recalls, interest rates, oil and gasoline prices and availability, the impact of international, national and regional economic conditions and consumer confidence on the retail sale of products for which we sell our components, and other risks and uncertainties discussed more fully under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, and in the Company's subsequent filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. The Company disclaims any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.
Contact: Brian M. Hall, CFO
Phone: (574) 535-1125
E Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
WALTHAM, Mass.--(BUSINESS WIRE)--Global Partners LP (NYSE:GLP) announced today that the Board of Directors (the “Board”) of its general partner, Global GP LLC, has declared a cash distribution of $0.609375 per unit ($2.4375 per unit on an annualized basis) on the Partnership’s 9.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units for the period from February 15, 2021 through May 14, 2021. This distribution will be payable on May 17, 2021 to holders of record as of the opening of business on May 3, 2021.
The Board also declared the initial cash distribution of $0.3365 per unit on the Partnership’s 9.50% Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units (“the Series B Preferred Units”), covering the period from March 24, 2021 (the issuance date of the Series B Preferred Units) through May 14, 2021. This distribution will be payable on May 17, 2021 to holders of record as of the opening of business on May 3, 2021.
Non-U.S. Withholding Information
This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100%) of GLP’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, GLP’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
About Global Partners LP
With approximately 1,550 locations primarily in the Northeast, Global Partners is one of the region’s largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers. In addition, Global engages in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. Global, a master limited partnership, trades on the New York Stock Exchange under the ticker symbol “GLP.” For additional information, visit www.globalp.com.
Forward-looking Statements
Certain statements and information in this press release may constitute “forward-looking statements.” The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Global’s current expectations and beliefs concerning future developments and their potential effect on the Partnership. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Partnership will be those that it anticipates. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Partnership’s control) including, without limitation, the impact and duration of the COVID-19 pandemic, uncertainty around the timing of an economic recovery in the United States which will impact the demand for the products we sell and the services that we provide, uncertainty around the impact of the COVID-19 pandemic to our counterparties and our customers and their corresponding ability to perform their obligations and/or utilize the products we sell and/or services we provide, uncertainty around the impact and duration of federal, state and municipal regulations related to the COVID-19 pandemic, and assumptions that could cause actual results to differ materially from the Partnership’s historical experience and present expectations or projections.
For additional information regarding known material factors that could cause actual results to differ from the Partnership’s projected results, please see Global’s filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Global undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
Daphne H. Foster
Chief Financial Officer
Global Partners LP
(781) 894-8800
Edward J. Faneuil
Executive Vice President,
General Counsel and Secretary
Global Partners LP
(781) 894-8800
TORONTO--(BUSINESS WIRE)--$LGO #VRFB--Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) announces first quarter 2021 production and sales results from its Maracás Menchen Mine featuring quarterly production of 1,986 tonnes (4.4 million lbs1) of vanadium pentoxide (“V2O5”) and sales of 2,783 tonnes of V2O5 equivalent.
Paulo Misk, President and Chief Executive Officer for Largo, stated: "Production was largely impacted during the quarter as a result of the planned shutdown to complete the upgrades and improvements associated with the Company’s cost-efficient nameplate increase to 1,100 tonnes of V2O5 per month. The related work for this project concluded in January 2021 and we expect to reach the new nameplate capacity by the end of Q2 2021, following the required commissioning and ramp up phases." He continued: “Strong vanadium demand in the Company’s key regions has continued in Q1 2021 with solid volume increases in the steel and chemical sectors. This was highlighted by a more than 50% increase in Europe’s average V2O5 price per lb during Q1 2021 as quoted by Fastmarkets Metal Bulletin. As a result of the severe impacts of COVID-19 pandemic, vanadium demand from the aerospace sector continues to lag, but we expect a gradual recovery from Q3 2021 onwards. Overall vanadium demand is expected to remain solid throughout 2021 as stimulus packages linked to the COVID-19 economic recovery are implemented. A continuous focus on global carbon emission reduction will also support the increased use of vanadium in the traditional steel market as well as in the fast-growing long duration energy storage sector. Recent sales of large scale VRFB systems around the world is further confirming the adaptation of this technology and we remain extremely focused on developing our clean energy division to service to this market with our VCHARGE± battery.”
A summary of the Company’s Q1 2021 production and sales results is presented below:
Maracás Menchen Mine Production and Sales |
Q1 2021 |
Q1 2020 |
||
|
|
|
||
Total Ore Mined (tonnes) |
263,966 |
203,966 |
||
Ore Grade Mined - Effective Grade (%)3 |
1.22 |
1.61 |
||
|
|
|
||
Effective Grade of Ore Milled (%)3 |
1.26 |
1.59 |
||
Concentrate Produced (tonnes) |
100,467 |
100,072 |
||
Grade of Concentrate (%) |
3.21 |
3.36 |
||
Contained V2O5 (tonnes) |
3,223 |
3,365 |
||
|
|
|
||
Crushing Recovery (%) |
96.8 |
98.3 |
||
Milling Recovery (%) |
97.1 |
98.4 |
||
Kiln Recovery (%) |
88.9 |
88.3 |
||
Leaching Recovery (%) |
97.1 |
96.6 |
||
Chemical Plant Recovery (%) |
95.3 |
96.8 |
||
Global Recovery (%)2 |
77.4 |
79.9 |
||
|
|
|
||
V2O5 produced (Flake + Powder) (tonnes) |
1,986 |
2,831 |
||
V2O5 produced (equivalent pounds)1 |
4,378,375 |
6,241,279 |
||
V2O5 equivalent sold (tonnes) |
2,783 |
3,170 |
Q1 2021 Production Results
Total production from the Maracás Menchen Mine was 1,986 tonnes of V2O5, representing a decrease of 30% over Q1 2020. This reduction is largely a result of the planned shutdown to implement upgrades to the kiln and improvements in the cooler. During this shutdown, the Company increased its intermediate stockpiles which is expected to benefit production in the next quarter. Following the commissioning and ramp up phase, these upgrades are expected to increase the Company’s nameplate capacity to 1,100 tonnes of V2O5 per month by the end of Q2 2021. The Company also conducted a preventative maintenance program downstream of the kiln and cooler during this downtime.
In Q1 2021, 263,966 tonnes of ore with an effective V2O5 grade3 of 1.22% were mined compared to 203,966 tonnes in Q1 2020 with an effective V2O5 grade3 of 1.61%. The Company also produced 100,467 tonnes of concentrate ore with an average V2O5 grade of 3.21% in Q1 2021 compared to 100,072 tonnes in Q1 2020 with an average V2O5 grade of 3.36%.
The Company achieved a global V2O5 recovery rate2 of 77.4% in Q1 2021 representing a decrease of 3.0% over Q1 2020 (79.9%). This is primarily due to the planned shutdown in January 2021 and the subsequent commissioning and ramp up activities in February and March 2021. These activities are expected to conclude by the end of Q2 2021 at which point the Company expects the global recoveries2 will return to levels achieved in 2020.
COVID-19 Preventative Measures
The Company continues to monitor the evolving COVID-19 pandemic and has taken preventative measures at its mine site and corporate offices to mitigate potential risks. Although there have been some challenges with logistics, there continues to be no significant impact on the Company’s production or on the shipment of products out of Maracás. To date, there continues to be no significant disruption to the Company's supply chain for its operations and the level of critical consumables continues to be at normal levels. In addition, the restrictions imposed by the government in Brazil have not significantly impacted operations. The Company continues to follow the recommendations provided by health authorities and all corporate office personnel have been instructed to work from home where possible. The Company continues to staff critical functions at the Maracás Menchen Mine and has encouraged those in non-essential roles to work from home.
The Company's 2021 guidance is presented on a "business as usual" basis. The Company continues to monitor measures being imposed by governments globally to reduce the spread of COVID-19 and the impact that this may have on the Company’s operations, sales and guidance for 2021. Although these restrictions have not, to date, had a material impact on the Company’s operations and sales, the potential future impact of COVID-19 both in Brazil and globally could have a significant impact on the Company’s operations, sales efforts and logistics. The Company is continuing to monitor the rapidly developing impacts of the COVID-19 pandemic and will take all possible actions to help minimize the impact on the Company and its people. However, these actions may significantly change the guidance and forecasts presented and will, if and when necessary, update its guidance accordingly.
About Largo Resources
Largo Resources is an industry preferred, vertically integrated vanadium company. It services multiple vanadium market applications through the supply of its unrivaled VPURE™ and VPURE+™ products, from one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine located in Brazil. Largo is also focused on the advancement of renewable energy storage solutions through its world-class VCHARGE± vanadium redox flow battery technology. The Company's common shares are listed on the Toronto Stock Exchange under the symbol "LGO".
For more information on Largo and VPURE™, please visit www.largoresources.com and www.largoVPURE.com.
For additional information on Largo Clean Energy, please visit www.largocleanenergy.com.
Forward-looking Information:
This press release contains forward-looking information under Canadian securities legislation, some of which may be considered "financial outlook" for the purposes of application Canadian securities legislation ("forward-looking statements"). Forward-looking information in this press release includes, but is not limited to, statements with respect to the timing and amount of estimated future production and sales; costs of future activities and operations; the extent of capital and operating expenditures; the iron ore price environment, the timing and cost related to the build out of the ilmenite plan, eventual production from the ilmenite plant, the ability to sell ilmenite on a profitable basis and the extent and overall impact of the COVID-19 pandemic in Brazil and globally. Forward-looking information in this press release also includes, but is not limited to, statements with respect to our ability to build, finance and operate a VRFB business, our ability to complete a listing on the Nasdaq, our ability to protect and develop our technology, our ability to maintain our IP, our ability to market and sell our VCHARGE± battery system on specification and at a competitive price, our ability to secure the required production resources to build our VCHARGE± battery system, our ability to produce iron ore and the adoption of VFRB technology generally in the market. Forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Largo or Largo Clean Energy to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on SEDAR from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo's annual and interim MD&As which also apply.
1 Conversion of tonnes to pounds, 1 tonne = 2,204.62 pounds or lbs.
2 Global recovery is the product of crushing recovery, milling recovery, kiln recovery, leaching recovery and chemical plant recovery.
3 Effective grade represents the percentage of magnetic material mined multiplied by the percentage of V2O5 in the magnetic concentrate.
Investor Relations:
Alex Guthrie
Senior Manager, External Relations
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Tel: +1 416-861-9797
Media Enquiries:
Crystal Quast
Bullseye Corporate
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Tel: +1 647-529-6364
Stateline Operating is an independent oil and gas exploration and production company initially focused on developing its existing assets in Eddy County, New Mexico
FORT WORTH, Texas--(BUSINESS WIRE)--Vortus Investment Advisors, LLC (“Vortus”), a Fort Worth, Texas-based private equity firm focused on lower to middle market upstream investments across North America, today announced a new partnership with Stateline Operating, LLC (“Stateline”). Headquartered in Fort Worth, Texas, Stateline is a newly formed operating and development joint venture between Vortus and Flat Creek Resources (“Flat Creek”). Stateline will be managed by Flat Creek with an initial focus on the development of existing oil-rich assets in Eddy County, New Mexico in the Delaware Basin.
“We are excited to partner with this management team, which has proven expertise and demonstrated success in this region,” said Jeff Miller, Managing Partner at Vortus. “This partnership further demonstrates our focus on strong investor alignment.”
Brian Crumley, Managing Partner at Vortus, added, “Looking to the future, Vortus will continue to evaluate additional partnership opportunities with the Flat Creek team in the Permian Basin, as well as other attractive domestic oil and gas resource plays across the country.”
Mike McCracken, Stateline’s CEO, added, “We are excited to partner with Vortus to develop one of the most economic plays in the United States with a focus on environmentally responsible operations. We value the Vortus support and courage of conviction.”
Kirkland & Ellis LLP served as legal counsel to Vortus with a team led by Dallas partner Thomas Laughlin and Houston partner Shubi Arora. Shearman & Sterling LLP served as legal counsel to Stateline with a team led by Houston partner Sarah McLean.
About Vortus Investment Advisors, LLC
Vortus Investment Advisors, LLC is a Fort Worth-based private equity firm focused on the lower middle market upstream energy industry in North America. Vortus has an asset-based investment strategy, targeting privately negotiated transactions in the lower to middle market requiring approximately $25 million to $100 million of equity capital in partnership with successful owner/operators. For additional information, please visit www.vortus.com.
About Stateline Operating, LLC
Stateline Operating, LLC is a privately held, independent oil and natural gas company based in Fort Worth, Texas. Stateline acquires, develops, and produces oil and gas properties in the Permian Basin and other domestic resource plays. For more information, please visit www.statelineoperating.com.
Media Contact:
Meggan Morrison
Redbird Communications Group
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DUBLIN--(BUSINESS WIRE)--The "Autonomous Ships Market by Level of Autonomy, Ship Type, Component and Fuel Type: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
Autonomous ships are the self-driving vessels that operate on the surface of water without any crew present on the ship. They are piloted by means of artificial intelligence and can be unmanned vessels functioning as a type of seafaring drone. They are combined with advanced sensors which give a precise image of the surrounding to the artificial intelligence system of the ship making it to operate accordingly.
The component used in autonomous ships are supported by the services such as IoT, Artificial intelligence (AI) and others, which help to follow mission plans, adjust mission execution, and sense the environment with the necessary decision logic. Presently, there is a demand for smart and autonomous ships which can reduce the human involvement in the operation. One of the major factors that drive the autonomous ships market share is increase in seaborne trades across the globe.
The autonomous ships market is segmented based on the level of autonomy, component, ship type, fuel type, channel type, and region. On the basis of level of autonomy, the market is divided into semi-autonomous and fully autonomous ships. Depending on the ship type, the market is categorized into commercial ships, defense ships, and passenger ships. By fuel type, the market is classified into carbon neutral fuels, liquefied natural gas, electric batteries, and heavy fuel oils. And based on component, the market is divided into hardware and software. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Stakeholders
Market Dynamics
Drivers
Restraints
Opportunities
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/8pj4u0
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Crude Oil Desalter Market based on Type (Single Stage, Two Stage and Three Stage), End-Use (FCC Feed Desalting, Heavy Crude Desalting, Distillate Treating and Other), Application (Upstream, Downstream and Other Application), and Geography - Global Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering.
Crude Oil Desalter's market is anticipated to grow at the rate of 8.8% CAGR by 2026 is majorly owing to the rising demand for crude oil desalter, which effectively eliminates the salts and water content among the upstream and downstream sector.
Companies Covered
Crude oil is obtained from offshore, and this crude oil has a number of undesirable contaminants or salts which may cause corrosion. In order to remove water and salts present in the crude oil, the desalter is used. The process of removing water present in the crude oil is known as crude oil electrostatic dehydrator.
If crude oil is not desalted, then the impurities, water, and salts in the crude oil may cause maintenance and operating problems. The most commonly present salts in crude oil include sodium chloride, calcium chloride, and magnesium chlorides. The salt content in the crude oil may cause corrosion in the refinery equipment, eventually damaging the equipment. On the other hand, the crude oil's varied prices are likely to hinder the growth of the crude oil desalter market.
The global crude oil desalter plays a crucial role for the oil & gas sector. The rising number of refineries in the near term is anticipated to obtain traction over the forecast period. There are other various drivers which can uplift the crude oil desalter market upwards in the forecasted years, such as the emergence of petroleum refineries in many regions, and increasing classic production companies is projected to boost the global crude oil desalter market growth.
Since crude oil is a very important source of fuel which has enhanced the demand for crude oil desalters around the world. In addition to that, the majority of the world is dependent on fuel and gas in the use of a number of applications such as transportation, paving roads, generating electricity, and others.
Key Topics Covered:
1. Executive Summary
2. Industry Outlook
2.1. Industry Overview
2.2. Industry Trends
3. Market Snapshot
3.1. Market Definition
3.2. Market Outlook
3.2.1. Porter Five Forces
3.3. Related Markets
4. Market characteristics
4.1. Market Overview
4.2. Market Segmentation
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. DRO - Impact Analysis
5. Type: Market Size & Analysis
5.1. Overview
5.2. Single Stage
5.3. Two Stage
5.4. Three Stage
5.5. AC Field Electrostatic Dehydrator
5.6. Combined AC-DC Field Electrostatic Dehydrator
5.7. DC Field Electrostatic Dehydrator
6. END-USE: Market Size & Analysis
6.1. Overview
6.2. FCC Feed Desalting
6.3. Heavy Crude Desalting
6.4. Distillate Treating
6.5. Other
7. Application Area: Market Size & Analysis
7.1. Overview
7.2. Upstream
7.3. Downstream
7.4. Other Application Area
8. Geography: Market Size & Analysis
8.1. Overview
8.2. North America
8.3. Europe
8.4. Asia Pacific
8.5. Rest of the World
9. Competitive Landscape
9.1. Competitor Comparison Analysis
9.2. Market Developments
9.2.1. Mergers and Acquisitions, Legal, Awards, Partnerships
9.2.2. Product Launches and execution
10. Vendor Profiles
11. Companies to Watch
12. Annexure
For more information about this report visit https://www.researchandmarkets.com/r/xq1rtv
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) (“Genesis” or the “Company”) today announced the commencement of a registered, underwritten public offering of $200,000,000 in aggregate principal amount of 8.0% senior unsecured notes due 2027. The notes will be co-issued with our subsidiary, Genesis Energy Finance Corporation (“GEFC”), and will be guaranteed, with certain exceptions, by substantially all of our existing and future subsidiaries other than our unrestricted subsidiaries. The notes offered will be issued as additional notes, and are expected to rank equally with, and be treated as a single class of notes under the indenture pursuant to which the Company and GEFC issued $750,000,000 aggregate principal amount of their currently outstanding 8.0% senior unsecured notes due 2027 on December 17, 2020. We intend to use the net proceeds from the offering of notes for general partnership purposes, including repaying a portion of the revolving borrowings outstanding under our credit facility.
BofA Securities, Inc. is leading the offering along with several joint book-running managers and co-managers. A copy of the preliminary prospectus supplement and accompanying base prospectus relating to this offering, when available, may be obtained from BofA Securities, Inc. NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, Email: This email address is being protected from spambots. You need JavaScript enabled to view it..
You may also obtain these documents for free, when they are available, by visiting the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offer is being made only through the prospectus supplement and accompanying base prospectus, each of which is part of our effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission.
Genesis is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
This press release includes forward-looking statements as defined under federal law. Although we believe that our expectations are based upon reasonable assumptions, no assurance can be given that our goals will be achieved, including statements regarding our ability to successfully close the offering and to use the net proceeds as indicated above. Actual results may vary materially. We undertake no obligation to publicly update or revise any forward-looking statement.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
PRINCETON, N.J.--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) today announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.325 per share, or $1.30 per share on an annualized basis. The dividend is payable on May 17, 2021 to stockholders of record as of May 3, 2021.
About NRG Energy
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy.
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This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward- looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally.
Investors:
Kevin L. Cole, CFA
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SAN ANTONIO, Texas--(BUSINESS WIRE)--The Board of Directors of Valero Energy Corporation (NYSE: VLO, “Valero”) has declared a regular quarterly cash dividend on common stock of $0.98 per share. The dividend is payable on June 8, 2021, to holders of record at the close of business on May 17, 2021.
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 50 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 1.69 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
Investors:
Homer Bhullar, Vice President – Investor Relations, 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
Amazon is now the largest corporate buyer of renewable energy globally and in Europe with 206 projects around the world, enough to power millions of homes a year
With more than 2.5 GW of capacity in Europe, and 8.5 GW of renewable energy capacity globally, Amazon is on a path to 100% renewable energy by 2025
SEATTLE--(BUSINESS WIRE)--Amazon (NASDAQ: AMZN) today announced nine new utility-scale wind and solar energy projects in the U.S., Canada, Spain, Sweden, and the UK. The company now has 206 renewable energy projects globally, including 71 utility-scale wind and solar projects and 135 solar rooftops on facilities and stores worldwide, which will generate 8.5 GW of electricity production capacity globally. With this latest announcement, Amazon is now the largest corporate purchaser of renewable energy in Europe, with more than 2.5 GW of renewable energy capacity, enough to power more than two million European homes a year.
These projects supply renewable energy to Amazon’s corporate offices, fulfillment centers, Whole Foods Market stores, and Amazon Web Services (AWS) data centers, which power Amazon and millions of AWS customers globally. The renewable energy from these projects also helps Amazon meet its commitment to produce the clean energy equivalent to the electricity used by all consumer Echo devices. All of these projects put Amazon on a path to power 100% of its activities with renewable energy by 2025—five years ahead of the original target of 2030. Investing in renewable energy is one of the many actions Amazon is taking as part of The Climate Pledge, a commitment to be net-zero carbon by 2040, 10 years ahead of the Paris Agreement.
“Amazon continues to scale up its investments in renewable energy as part of its effort to meet The Climate Pledge, our commitment to be net-zero carbon by 2040,” said Jeff Bezos, Amazon founder and CEO. “With these nine new wind and solar projects, we have announced 206 renewable wind and solar projects worldwide, and we are now the largest corporate buyer of renewable energy in Europe and globally. Many parts of our business are already operating on renewable energy, and we expect to power all of Amazon with renewable energy by 2025—five years ahead of our original target of 2030.”
The nine new wind and solar projects announced today in the U.S., Canada, Spain, Sweden, and the UK include:
A map of all of Amazon’s renewable energy projects around the world can be found here.
“Amazon is a leader in renewable energy buying and is continuously changing the market through continuous innovation and investments in renewable energy. We are thrilled to see Amazon's latest commitments around the world including in Spain, Sweden, and the UK. Long-term investments like these are crucial to companies moving closer to climate neutrality,” said Hannah Hunt, Impact Director, RE-Source, a corporate renewable energy sourcing platform in Europe.
“Amazon continues to play a key role leading the corporate transition to renewable power worldwide and demonstrating that ambitious renewable targets are both achievable and widely beneficial,” said Gregory Wetstone, President and CEO of the American Council on Renewable Energy (ACORE). “The company’s nine new clean energy projects bring them to an impressive record total of 8.5 gigawatts of global renewable capacity and include Amazon’s first solar plus storage project, using advanced technology to help deliver a clean, reliable grid.”
“Leading companies like Amazon know the value that solar can bring to their businesses and the planet,” said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association (SEIA). “We’re thrilled to see that Amazon is following through on its climate commitments and is investing in renewable energy assets across the world. Wall Street, customers, and international businesses are all watching what American companies are doing about climate change, and this type of leadership can have a major impact on the climate crisis.”
Amazon and Global Optimism co-founded The Climate Pledge in 2019, a commitment to reach the Paris Agreement 10 years early and be net-zero carbon by 2040. The pledge now has 53 signatories, including IBM, Unilever, Verizon, Siemens, Microsoft, and Best Buy. To reach its goal, Amazon will continue to reduce emissions across its operations by taking real business actions and establishing a path to power its operations with 100% renewable energy, five years ahead of the company’s original target of 2030; delivering its Shipment Zero vision to make all shipments net-zero carbon, with 50% net-zero carbon by 2030; purchasing 100,000 electric delivery vehicles, the largest order ever of electric delivery vehicles; and by investing $2 billion in the development of decarbonizing services and solutions through the Climate Pledge Fund. For more information, visit https://sustainability.aboutamazon.com/.
About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.
About Amazon Web Services
For 15 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS has been continually expanding its services to support virtually any cloud workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 80 Availability Zones (AZs) within 25 geographic regions, with announced plans for 15 more Availability Zones and five more AWS Regions in Australia, India, Indonesia, Spain, and Switzerland. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.
Amazon.com, Inc.
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FREMONT, Calif.--(BUSINESS WIRE)--$SEDG #SEDG--SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, will report financial results for the first quarter 2021 after market close on Monday, May 3, 2021. Management will host a conference call at 4:30 P.M. ET on Monday, May 3, 2021 to discuss these results.
The call will be available, live, to interested parties by dialing:
United States/Canada Toll Free: |
800-367-2403 |
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International Toll: |
+1 334-777-6978 |
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Conference ID: |
5167186 |
A live webcast will also be available in the Investor Relations section of SolarEdge’s website at: http://investors.solaredge.com
A replay of the webcast will be available in the Investor Relations section of the company’s website approximately two hours after the conclusion of the call and remain available for approximately 30 calendar days.
About SolarEdge
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, electric vehicle powertrains, and grid services solutions. SolarEdge is online at solaredge.com
Investor Contacts
SolarEdge Technologies, Inc.
Ronen Faier, Chief Financial Officer
+1 510-498-3263
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Sapphire Investor Relations, LLC
Erica Mannion or Michael Funari
+1 617-542-6180
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Amazon is now the largest corporate buyer of renewable energy globally and in Europe with 206 projects around the world, enough to power millions of homes a year
With more than 2.5 GW of capacity in Europe, and 8.5 GW of renewable energy capacity globally, Amazon is on a path to 100% renewable energy by 2025
SEATTLE--(BUSINESS WIRE)--Amazon (NASDAQ: AMZN) today announced nine new utility-scale wind and solar energy projects in the U.S., Canada, Spain, Sweden, and the UK. The company now has 206 renewable energy projects globally, including 71 utility-scale wind and solar projects and 135 solar rooftops on facilities and stores worldwide, which will generate 8.5 GW of electricity production capacity globally. With this latest announcement, Amazon is now the largest corporate purchaser of renewable energy in Europe, with more than 2.5 GW of renewable energy capacity, enough to power more than two million European homes a year.
These projects supply renewable energy to Amazon’s corporate offices, fulfillment centers, Whole Foods Market stores, and Amazon Web Services (AWS) data centers, which power Amazon and millions of AWS customers globally. The renewable energy from these projects also helps Amazon meet its commitment to produce the clean energy equivalent to the electricity used by all consumer Echo devices. All of these projects put Amazon on a path to power 100% of its activities with renewable energy by 2025—five years ahead of the original target of 2030. Investing in renewable energy is one of the many actions Amazon is taking as part of The Climate Pledge, a commitment to be net-zero carbon by 2040, 10 years ahead of the Paris Agreement.
“Amazon continues to scale up its investments in renewable energy as part of its effort to meet The Climate Pledge, our commitment to be net-zero carbon by 2040,” said Jeff Bezos, Amazon founder and CEO. “With these nine new wind and solar projects, we have announced 206 renewable wind and solar projects worldwide, and we are now the largest corporate buyer of renewable energy in Europe and globally. Many parts of our business are already operating on renewable energy, and we expect to power all of Amazon with renewable energy by 2025—five years ahead of our original target of 2030.”
The nine new wind and solar projects announced today in the U.S., Canada, Spain, Sweden, and the UK include:
A map of all of Amazon’s renewable energy projects around the world can be found here.
“Amazon continues to play a key role leading the corporate transition to renewable power worldwide and demonstrating that ambitious renewable targets are both achievable and widely beneficial,” said Gregory Wetstone, President and CEO of the American Council on Renewable Energy (ACORE). “The company’s nine new clean energy projects bring them to an impressive record total of 8.5 gigawatts of global renewable capacity and include Amazon’s first solar plus storage project, using advanced technology to help deliver a clean, reliable grid.”
“Leading companies like Amazon know the value that solar can bring to their businesses and the planet,” said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association (SEIA). “We’re thrilled to see that Amazon is following through on its climate commitments and is investing in renewable energy assets across the world. Wall Street, customers, and international businesses are all watching what American companies are doing about climate change, and this type of leadership can have a major impact on the climate crisis.”
Amazon and Global Optimism co-founded The Climate Pledge in 2019, a commitment to reach the Paris Agreement 10 years early and be net-zero carbon by 2040. The pledge now has 53 signatories, including IBM, Unilever, Verizon, Siemens, Microsoft, and Best Buy. To reach its goal, Amazon will continue to reduce emissions across its operations by taking real business actions and establishing a path to power its operations with 100% renewable energy, five years ahead of the company’s original target of 2030; delivering its Shipment Zero vision to make all shipments net-zero carbon, with 50% net-zero carbon by 2030; purchasing 100,000 electric delivery vehicles, the largest order ever of electric delivery vehicles, and by investing $2 billion in the development of decarbonizing services and solutions through the Climate Pledge Fund. For more information, visit https://sustainability.aboutamazon.com/.
About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.
About Amazon Web Services
For 15 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS has been continually expanding its services to support virtually any cloud workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 80 Availability Zones (AZs) within 25 geographic regions, with announced plans for 15 more Availability Zones and five more AWS Regions in Australia, India, Indonesia, Spain, and Switzerland. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.
Amazon.com, Inc.
Media Hotline
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SL Green recognized as one of the most sustainable organizations in the nation for the fourth consecutive year
NEW YORK--(BUSINESS WIRE)--SL Green Realty Corp. (NYSE:SLG), Manhattan’s largest office landlord, today announced that it has received a 2021 ENERGY STAR Partner of the Year Sustained Excellence Award for the fourth consecutive year. This award honors organizations across the United States that have implemented distinguished corporate energy management programs. Less than one percent of 16,000 U.S. Environmental Protection Agency (EPA) partners achieve the Sustained Excellence distinction.
The U.S. Department of Energy and EPA awarded SL Green this award, the highest level of EPA recognition, for its extensive tenant outreach on energy efficiency, educational programs and widespread promotion of ENERGY STAR tools and best practices. As a continued leader in this space, SL Green achieved ENERGY STAR labels for over 14 buildings covering 10.6 million square feet across its industry-leading portfolio in 2020.
“SL Green is dedicated to implementing the highest efficiency standards across our portfolio, not only for the benefit of our tenants but for the future sustainability of New York City. The ENERGY STAR Sustained Excellence Award is a testament to our conscious effort to reduce our carbon footprint and the unwavering commitment of SL Green’s ESG team to surpass our sustainability goals each year,” said Edward V. Piccinich, Chief Operating Officer, SL Green Realty Corp.
“ENERGY STAR award-winning partners are showing the world that delivering real climate solutions makes good business sense and promotes job growth,” said EPA Administrator Michael S. Regan. “Many of them have been doing it for years, inspiring all of us who are committed to tackling the climate crisis and leading the way to a clean energy economy.”
The EPA presents the Sustained Excellence Award to organizations that have already received ENERGY STAR Partner of the Year recognition for a minimum of two consecutive years and have gone above and beyond the criteria needed to qualify for recognition.
SL Green prioritizes an unrelenting focus on environmental stewardship to manage resource consumption while delivering best-in-class spaces for 150,000 tenant employees and will continue to ensure its portfolio has a significant influence on the low carbon future of New York City. The company’s robust sustainability and ESG initiatives include the use of recycled water, materials and overall sustainable development, building operations meeting or exceeding LEED, ENERGY STAR and BOMA standards, reducing building emissions through green lease efforts with tenants and more. To read SL Green’s 2020 ESG report and learn more, visit SL Green’s website at sustainability.slgreen.com.
About SL Green Realty Corp.
SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet. This included ownership interests in 28.6 million square feet of Manhattan buildings and 8.7 million square feet securing debt and preferred equity investments.
About ENERGY STAR
ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations—including more than 40 percent of the Fortune 500 companies—rely on their partnership with EPA to deliver cost-saving energy efficiency solutions. Since 1992, ENERGY STAR and its thousands of partners helped American families and businesses save more than 4 trillion kilowatt-hours of electricity and achieve over 3.5 billion metric tons of greenhouse gas reductions. In 2018 alone, ENERGY STAR and its partners helped Americans avoid nearly $35 billion in energy costs. More background information about ENERGY STAR can be found at: energystar.gov/about and energystar.gov/numbers.
Forward Looking Statement
This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “continue,” or the negative of these words, or other similar words or terms.
Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties related to the on-going COVID-19 pandemic and the duration and impact it will have on our business and the industry as a whole and the other risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.
SLG - SUST
Source: SL Green Realty Corp.
Matt DiLiberto
Chief Financial Officer
212.594.2700
First major deployment of the OSDU™ Data Platform will streamline strategy planning for Equinor
LONDON--(BUSINESS WIRE)--Schlumberger and Equinor announced today a strategic project, in collaboration with Microsoft, to deploy the DELFI* cognitive E&P environment, with seamless integration to the OSDU Data Platform—the industry’s new data standard. This project aims to accelerate Equinor’s ability to integrate data at scale and improve decision making.
“We are pleased to be working with Equinor and Microsoft to facilitate enhanced resource discovery through this first deployment of the newly-released OSDU Data Platform fully integrated with DELFI,” said Rajeev Sonthalia, president, Digital & Integration, Schlumberger. “This provides a single, unified landscape with seamless access to data that enables the industry to rapidly run AI and data-driven workflows, creating a game-changing increase in efficiency.”
The OSDU-enabled solution will be embedded as a key part of Equinor’s Microsoft Azure enterprise-wide data platform, OMNIA. This will establish consistent data standards across the subsurface to enhance overall decision making.
The strategic project will leverage the DELFI Petrotechnical Suite, the ExplorePlan* accelerated exploration planning solution (co-developed between Schlumberger and Equinor), and data science solutions from Schlumberger. These solutions improve collaboration and insights, enabling geoscientists to make informed decisions through enhanced subsurface understanding and prospect de-risking.
“We’re excited to champion OSDU as the industry standard platform that integrates our data into the DELFI environment,” said Lisa Rebora, senior vice president of Exploration Excellence, Equinor. “Our collaboration with Schlumberger in the co-creation of ExplorePlan will enable our geoscientists to draw more insights and generate more ideas and opportunities through access to a wealth of data at their fingertips. In this next important phase during 2021, we will deploy ExplorePlan to our geoscientists, connecting seamlessly to our OSDU-enabled OMNIA data platform.”
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, digital technologies. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from digital strategies, initiatives or partnerships; and other risks and uncertainties detailed in our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. Statements in this press release are made as of the date of this release, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise.
*Mark of Schlumberger
Giles Powell – Director of Corporate Communication, Schlumberger Limited
Tel: +1 (713) 375-3494
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COVID-19 pandemic continues to create major challenges for fuel merchants nationwide in meeting April liability shift deadline
MIAMI--(BUSINESS WIRE)--#Fraud--New data from ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions, shows that as of April 17, 2021 — the extended EMV liability shift deadline — less than half (48%) of fuel merchants will meet EMV automated fuel dispenser (AFD) compliance mandates. As of the extended deadline, the liability for fraud will now shift from card issuers to fuel merchants.
ACI surveyed fuel merchants that collectively represent 45,000 gas stations nationwide — including major oil companies, grocers and convenience stores. The data showed that only 50 percent of fuel merchants who were not fully implemented expect to be EMV compliant by the end of 2021.
“Although previously protected from fraud losses, merchants will now bear the brunt of fraud overnight,” said Debbie Guerra, executive vice president, ACI Worldwide. “While EMV compliance is a major undertaking, and one that requires a significant capital investment, there is no doubt that the pandemic also played a big role in some fuel merchants’ inability to meet the April deadline. With overall diminished resources due to the pandemic and slow testing and certification, which is typically done in person, merchants have certainly been challenged.”
The ACI research also showed fuel merchants’ increased interest in implementing important security and fraud prevention measures such as point-to-point encryption (52%) and tokenization (39%). In ACI’s July 2020 survey, 37 percent were considering point-to-point encryption and 26 percent were considering tokenization.
“Fortunately, for fuel merchants and their customers, the upgrades required for EMV at the dispenser will increase point-to-point encryption technology adoption. The additional bandwidth will allow merchants to secure all of their payments upfront,” Guerra continued.
Key Findings:
EMV readiness by April 17 deadline:
Expected completion of EMV compliance:
Fraud and security:
Digital payments and additional improvements:
See the EMV Readiness Survey Infographic for more information.
About ACI Worldwide
ACI Worldwide is a global software company that provides mission-critical real-time payment solutions to corporations. Customers use our proven, scalable and secure solutions to process and manage digital payments, enable omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with local presence to drive the real-time digital transformation of payments and commerce.
© Copyright ACI Worldwide, Inc. 2021
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced are the property of their respective owners.
Media
Dan Ring
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781-370-3600
Nidhi Alberti
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781-370-3600
Both $7.5M Grand Prize Winners Developed Technologies Focused on Decarbonizing Concrete, the World’s Largest Material Industry
LOS ANGELES--(BUSINESS WIRE)--XPRIZE, the global leader in designing and implementing innovative competition models to solve the world’s grandest challenges, today announced that CarbonCure Technologies and CarbonBuilt have won the $20M NRG COSIA Carbon XPRIZE, a prize that set out to convert CO2 emissions into valuable products.
Selected by a panel of independent judges, both winning teams developed solutions aimed at reducing CO2 emissions associated with traditional concrete, which is currently the world’s most abundant human-made material and accounts for seven percent of all global CO2 emissions. The two team’s award-winning technologies will be, and already are, game-changers for global decarbonization and the fight against climate change.
Launched in 2015, the NRG COSIA Carbon XPRIZE was a five-year global competition developed to address rising CO2 emissions by challenging innovators around the world to develop breakthrough technologies that convert the most CO2 into products with the highest net value.
"The NRG COSIA Carbon XPRIZE, its two winners, and the eight other finalists have developed breakthrough technologies that allow humanity to reimagine what is possible for the climate change fight,” said Anousheh Ansari, XPRIZE CEO. “Thanks to the vision laid out and supported by NRG, COSIA and many other partners, flipping CO2 emissions into valuable products is now a proven, successful strategy to build a better world."
The competition included two tracks: the Wyoming track that focused on the conversion of emissions from a nearby coal-fired power plant, the Wyoming Integrated Test Center in Gillette, WY, and the Alberta track which used emissions from an adjacent natural gas-fired plant, the Alberta Carbon Conversion Technology Centre in Calgary, AB. The winning teams, one from each track, converted the most CO2 into products with the highest value, while minimizing their overall CO2 footprint, land use, water use, and energy use.
CarbonCure Technologies, the Alberta track winner from Canada, demonstrated a technology which enabled the production of concrete with a reduced water and carbon footprint without sacrifice to the material’s reliability. Utilizing CarbonCure Technologies’ system, a precise dosage of CO2 is injected into a concrete plant’s reclaimer system, which contains the water used to wash out concrete trucks and mixers. The CO2 is converted to a permanently embedded mineral with strength-enhancing properties which can then be incorporated into new concrete mixes. By reducing the amount of new freshwater, solid waste disposal and cement required, the team, which is backed by Bill Gates’ fund Breakthrough Energy Ventures, Amazon Climate Pledge Fund, BDC Capital and others, is able to reduce the material costs and increase profitability for concrete producers.
“I’m incredibly proud of Team CarbonCure’s hard work, dedication, and ingenuity that contributed to our win. The prize winnings will accelerate our path to achieve our company mission of reducing 500 megatonnes of CO2 emissions annually by 2030,” said Jennifer Wagner, president of CarbonCure and team lead for the competition. “Technology alone will not get us to our net-zero emissions targets — concrete producers, the wider construction community, and policymakers are important allies on our journey to decarbonize the concrete industry.”
The Los Angeles-based Wyoming track winner, UCLA CarbonBuilt, developed technology that reduces the carbon footprint of concrete by more than 50 percent while reducing raw material costs and increasing profitability. The CarbonBuilt concrete formulation significantly decreases the need for ordinary Portland cement while enabling the increased use of low-cost waste materials. During the curing process, CO2 is directly injected from flue gas streams (like power plants or cement factories) into the concrete mixture where it is chemically transformed and permanently stored. Development began at the UCLA Samueli School of Engineering in 2014 with support from the NRG COSIA CARBON XPRIZE, philanthropic foundations, private and corporate sponsors, as well as government agencies including the U.S. Department of Energy.
“I am absolutely thrilled that UCLA CarbonBuilt has won the NRG COSIA Carbon XPRIZE,” said Gaurav N. Sant, professor of civil and environmental engineering and of materials science and engineering at UCLA Samueli. “As a third-generation civil engineer, I have been fascinated with the role that construction has played in solving societal challenges. To have spent the last decade finding a solution to mitigate the carbon footprint of concrete construction with a phenomenal team, and to have won the NRG COSIA Carbon XPRIZE, doing so is an ultimate dream come true,” shared Sant, who is also the director of the UCLA Institute for Carbon Management and founder of CarbonBuilt, Inc., a private company set up to commercialize the pioneering CO2 utilization technology.
“Concrete is one of the world’s most abundant materials, and a crucial frontier in the fight against climate change. The production of Portland cement, the key ingredient that binds concrete and gives it its strength, accounts for approximately seven percent of global CO2 emissions,” says Marcius Extavour, vice president of climate and energy at XPRIZE. “Concrete is also a material that can be readily made using CO2 as an input, which the winning teams have demonstrated really clearly. Now, deploying their technology to avoid and reduce emissions from heavy industry will be a gamechanger for global decarbonization in the fight against climate change.”
Additionally, the USD $20M NRG COSIA Carbon XPRIZE awarded X-Factor awards to Carbon Upcycling-NLT and Carbon Corp, two finalists that created excellent products and compelling demonstrations that deserved recognition. Carbon Upcycling-NLT, based in Calgary, produces nanoparticles with applications in various industries, particularly concrete, construction and plastics. Carbon Corp, who relocated from the USA to Calgary, transforms CO2 into carbon nanotubes, with applications such as lightweight, ultra-strong and cost-effective replacements for metals; stronger cement-composite building materials; and expanding applications in industrial catalysis, batteries, and nanoelectronics.
“Combating climate change is one of the most important challenges we face--requiring us to rethink, reimagine, and embrace new ideas,” said Jeanne-Mey Sun, NRG vice president, sustainability. “Competitions, such as the NRG COSIA Carbon XPRIZE, are opportunities to bring innovators together to develop solutions for the monumental task of decarbonizing our economy. As we recognize today’s winners, we celebrate all of the teams’ hard work and perseverance in this new era in carbon technology.”
“Through COSIA, Canada’s oil sands industry has been proud to support this initiative which has proven that capturing CO2 emissions from natural gas and coal combustion and converting such into usable products can be a game-changer in broader emissions reduction efforts. With breakthrough technologies like these, we can tackle the major causes of climate change while also responsibly meeting global energy demand,” says Wes Jickling, chief executive of COSIA. “As one of many projects underway within COSIA, the competition is a shining example of how innovative cleantech can transform our world. Our hats are off to all the competitors, and we congratulate the winners.”
“Congratulations to XPRIZE winner, CarbonBuilt. The research they’re doing at the Integrated Test Center proves Wyoming is leading the way on carbon capture and utilization,” said U.S. Senator John Barrasso (R-WY). “Last summer, I saw their groundbreaking work firsthand, as they transformed captured carbon dioxide into concrete. CarbonBuilt’s technology will help create new markets and jobs in Wyoming and across the country, while reducing greenhouse gas emissions.”
“Congratulations to CarbonCure who’s already transforming the concrete industry, and to the rest of the contestants in advancing a carbon-tech sector full of opportunity. It has been a privilege for the Alberta Carbon Conversion Technology Centre to host the NRG COSIA Carbon XPRIZE”, says Laura Kilcrease, CEO of Alberta Innovates. “The ACCTC is open for business and we welcome new technology developers to experience the ACCTC as they blaze paths to a net zero future.”
Each grand prize winner will be awarded a USD $7.5 million prize purse and will receive their winnings within 60 days. Those interested in learning more can do so at carbon.xprize.org
About XPRIZE
XPRIZE, a 501(c)(3) nonprofit organization, is the global leader in designing and implementing innovative competition models to solve the world’s grandest challenges. Active competitions include the $20 Million NRG COSIA Carbon XPRIZE, the $10 Million Rainforest XPRIZE, the $10 Million ANA Avatar XPRIZE, the $5 Million IBM Watson AI XPRIZE, $5 Million XPRIZE Rapid Reskilling, $5 Million XPRIZE Rapid COVID Testing, and $500K Pandemic Response Challenge. For more information, visit xprize.org.
About NRG
NRG is the leading integrated power company in the U.S., built on the strength of our diverse competitive electric generation portfolio and leading retail electricity platform. A Fortune 500 company, NRG creates value through best in class operations, reliable and efficient electric generation, and a retail platform serving residential and commercial businesses. Working with electricity customers, large and small, we implement sustainable solutions for producing and managing energy, developing smarter energy choices and delivering exceptional service as our retail electricity providers serve almost three million residential and commercial customers throughout the country. More information is available at www.nrg.com. Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy.
About COSIA
Canada’s Oil Sands Innovation Alliance (COSIA) is a unique alliance of oil sands producers focused on accelerating environmental performance in Canada’s oil sands. COSIA enables collaboration and innovation between big thinkers from industry, government, academia and the wider public to improve measurement, accountability and performance in the oil sands across our environmental priority areas of greenhouse gases, land, water and tailings. COSIA members search the world for solutions to our toughest problems. And we have some of the best minds on the planet working on technologies to enable responsible and sustainable development. To date, COSIA has shared over 1,025 distinct environmental technologies and innovations that cost over $1.6 billion to develop. Visit COSIA at www.cosia.ca. Follow us on LinkedIn, Facebook and Twitter.
About Alberta Innovates
Alberta Innovates is the province’s largest and Canada’s first public research and innovation organization. For a century we have worked closely with the researchers, companies and entrepreneurs who built Alberta’s industries and strengthened communities. Today we are pivoting to the next frontier of opportunity in Alberta and worldwide, driven by emerging technologies across sectors. We provide seed funding, business advice, applied research and technical services, along with avenues for partnership and collaboration. Learn how Alberta Innovates.
Caden Kinard, XPRIZE
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~Moving ahead with remaining portion of previously announced $21 million in biogas upgrading system supply contracts for a project involving an oil and gas supermajor~
VANCOUVER, British Columbia--(BUSINESS WIRE)--$GRN #ESG--Greenlane Renewables Inc. (“Greenlane”) (TSX: GRN / FSE: 52G) today announced that its wholly-owned subsidiary, Greenlane Biogas North America Ltd. will begin immediate order fulfilment against the US$2.6 million ($3.3 million at current exchange rate) contract that was announced as part of the $21 million in contract wins for a dairy farm cluster in California on June 29, 2020. Order fulfillment against the first contract began immediately upon signing last June. The name of the supermajor involved in this project is not disclosed at this time.
The project will use Greenlane’s Pressure Swing Adsorption (“PSA”) biogas upgrading systems to create clean renewable natural gas (“RNG”) at a multi-location dairy farm cluster located in California through anaerobic digestion of the farm waste stream. The RNG will be supplied as fuel for the U.S. transportation sector.
“Greenlane’s biogas upgrading systems have been a feature installation on a project delivering RNG to the transportation sector,” said Brad Douville, President and CEO of Greenlane. “The project showcases the importance of carbon-negative RNG generated from dairy farm waste as a transportation fuel available today in the fight against climate change.”
Greenlane’s ability to provide a portfolio of biogas upgrading technologies is attractive for companies looking to build a portfolio of RNG projects that inherently have differences in size, feedstock composition and pipeline injection requirements, which always need an optimized solution with the best economics for each. Greenlane is the only biogas upgrading company to offer multiple core technologies: water wash, PSA, and membrane separation, to remove trace impurities from the biogas stream and separate carbon dioxide from biomethane to create a clean, high-purity low-carbon fuel: RNG, no matter the size, feedstock or application.
About Greenlane Renewables
Greenlane Renewables is a leading global provider of biogas upgrading systems that are helping decarbonize natural gas. Our systems produce clean, low-carbon and carbon-negative renewable natural gas from organic waste sources including landfills, wastewater treatment plants, dairy farms, and food waste, suitable for either injection into the natural gas grid or for direct use as vehicle fuel. Greenlane is the only biogas upgrading company offering the three main technologies: water wash, pressure swing adsorption, and membrane separation. With over 30 years industry experience, patented proprietary technology, and over 110 biogas upgrading systems supplied into 18 countries worldwide, including the world’s largest biogas upgrading facility, Greenlane is inspired by a commitment to helping waste producers, gas utilities or project developers turn a low-value product into a high-value low-carbon renewable resource. For further information, please visit www.greenlanerenewables.com.
FORWARD LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen. In particular, this news release contains forward looking information relating to the expected order fulfillment of the $3.5 million contract; the use of Greenlane’s PSA technology to create clean renewable natural gas and the supply of renewable natural gas to the US transportation sector. The forward-looking information contained herein is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including management's perceptions of future growth and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While management considers these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond the Company’s control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation, risks identified in the Company's annual information form and in other documents filed with Canadian securities regulatory authorities on the Company's SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. Actual results may differ materially from those anticipated. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Incite Capital Markets
Eric Negraeff / Darren Seed
Ph: 604.493.2004
Brad Douville, President & CEO, Greenlane Renewables
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In Gartner’s first report covering this market, project44 was named a Leader for its ability to execute and its completeness of vision out of 14 vendors evaluated
CHICAGO--(BUSINESS WIRE)--Today project44 announced that Gartner has named the company a Leader in the research firm’s first ever Magic Quadrant for Real-Time Transportation Visibility Platforms (RTTVP). Gartner evaluated 14 vendors out of which project44 received the highest placement for its ability to execute and was also recognized for its completeness of vision.
Supply chains around the world need real-time transportation visibility now more than ever. As one of the largest RTTVP vendors, in terms of coverage and market presence, project44 provides visibility globally, with exceptional network density in North America and Europe. With its superior ability to execute, project44 takes complete ownership and responsibility for carrier onboarding with a contractual SLA guarantee.
“Following the initial shock of the COVID-19 pandemic, consumer demand skyrocketed, placing massive strain on the global supply chain. At the same time, disruptions like the recent Suez Canal incident and other port blockages have created downstream impacts across all other transportation modes,” said Jett McCandless, founder and CEO of project44. “project44 helps solve some of the most difficult transportation issues by providing real-time data into shipments globally. Our position in Gartner’s first Magic Quadrant for Real-Time Transportation Visibility Platforms is clear evidence that we are helping companies use visibility to improve business execution."
Track Record of Great Performance
Gartner’s recognition of project44 as a Magic Quadrant Leader is because of its ability to execute and completeness of vision. Recently events contributing to project44’s growth include:
Get the Report
Gartner Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries, and Niche Players. The research enables businesses to get the most from market analysis that aligns with their unique business and technology needs.
Download a complimentary copy of the Gartner Magic Quadrant report here.
Gartner Disclaimer:
Gartner Magic Quadrant for Real-Time Transportation Visibility Platforms, by Bart De Muynck and Carly West, April 14, 2021.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About project44
project44 solves some of the world’s most critical logistics challenges by connecting, automating, and providing real-time visibility into global transportation processes. With project44’s cloud-based platform, organizations can increase operational efficiencies, reduce costs, improve shipping performance, and deliver an exceptional, Amazon-like experience to their customers. project44 supports all transportation modes and shipping types, including air, parcel, final-mile, less-than-truckload, volume less-than-truckload, groupage, truckload, rail, intermodal, and ocean. To learn more, visit www.project44.com.
Charlie Ungashick
Chief Marketing Officer
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DUBLIN--(BUSINESS WIRE)--The "Africa Oil and Gas Projects Outlook to 2025 - Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects" report has been added to ResearchAndMarkets.com's offering.
The total number of oil and gas projects in the Africa expected to start operations from 2021 to 2025 are 428. Out of these, upstream and midstream sectors would witness the highest project starts with 129 projects each. Refinery and petrochemical segments would witness the start of operations of 65 and 105 projects, respectively.
Scope
Reasons to Buy
Key Topics Covered:
1. Introduction
1.1 What is this Report About?
1.2 Market Definition
2. Oil and Gas Projects Outlook in Africa
2.1 Oil and Gas Projects in Africa, Overview of Projects Data
2.2 Oil and Gas Projects in Africa, Projects by Sector
2.3 Oil and Gas Projects in Africa, Projects by Type
2.4 Oil and Gas Projects in Africa, Projects by Stage
2.5 Oil and Gas Projects in Africa, Projects by Key Countries
3. Oil and Gas Projects Outlook in Nigeria
3.1 Oil and Gas Projects in Nigeria, Overview of Projects Data
3.2 Oil and Gas Projects in Nigeria, Projects by Sector
3.3 Oil and Gas Projects in Nigeria, Projects by Type
3.4 Oil and Gas Projects in Nigeria, Projects by Stage
3.5 Oil and Gas Projects in Nigeria, Projects Development Stage, Capacity, Project Cost, and Contractor Details
4. Oil and Gas Projects Outlook in Egypt
5. Oil and Gas Projects Outlook in Algeria
6. Oil and Gas Projects Outlook in Angola
7. Oil and Gas Projects Outlook in Ghana
8. Oil and Gas Projects Outlook in Mozambique
9. Oil and Gas Projects Outlook in Morocco
10. Oil and Gas Projects Outlook in South Africa
11. Oil and Gas Projects Outlook in Tunisia
12. Oil and Gas Projects Outlook in Congo Republic
13. Oil and Gas Projects Outlook in Libya
14. Oil and Gas Projects Outlook in Uganda
15. Oil and Gas Projects Outlook in Tanzania
16. Oil and Gas Projects Outlook in Zimbabwe
17. Oil and Gas Projects Outlook in Kenya
18. Oil and Gas Projects Outlook in Niger
19. Oil and Gas Projects Outlook in Cameroon
20. Oil and Gas Projects Outlook in Gabon
21. Oil and Gas Projects Outlook in Equatorial Guinea
22. Oil and Gas Projects Outlook in Chad
23. Oil and Gas Projects Outlook in Ethiopia
24. Oil and Gas Projects Outlook in Botswana
25. Oil and Gas Projects Outlook in Cote d'Ivoire
26. Oil and Gas Projects Outlook in Benin
27. Oil and Gas Projects Outlook in Guinea
28. Oil and Gas Projects Outlook in Djibouti
29. Oil and Gas Projects Outlook in Senegal
30. Oil and Gas Projects Outlook in South Sudan
For more information about this report visit https://www.researchandmarkets.com/r/jdyas4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON & DENVER--(BUSINESS WIRE)--$NEXT #carboncapture--NextDecade Corporation (NextDecade) (NASDAQ: NEXT) and Project Canary announced today the formation of a joint pilot project for monitoring, reporting, and independent third-party measurement and certification of the greenhouse gas (GHG) intensity of liquefied natural gas (LNG) to be sold from NextDecade’s Rio Grande LNG export facility in the Port of Brownsville, Texas.
Project Canary is focused on delivering independent, trusted, continuous emissions monitoring data and related technologies to assess environmental performance across the energy value chain. In its pilot project with NextDecade, the first in the global LNG industry, Project Canary will deploy its TrustWell™ certification process to confirm each element of the natural gas value chain – from the wellhead to the ship at Rio Grande LNG – has achieved low emissions targets and utilized the highest standards of environmental performance and social responsibility. This partnership will enable the development of a responsibly sourced natural gas supply chain from leading producers in the Permian Basin and Eagle Ford Shale and independent, third-party certification of the GHG intensity of LNG.
“NextDecade is committed to working with sustainable producers seeking to supply responsibly sourced natural gas to Rio Grande LNG,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “Project Canary’s independent measurement and certification platform will provide transparency and give confidence to our customers who are increasingly focused on securing low greenhouse gas-intensive LNG. Reliable, competitively priced LNG and responsible environmental stewardship are not mutually exclusive, and we are pleased to work with Project Canary to establish a new and higher standard for the supply of low-GHG LNG to markets around the world.”
Last month, NextDecade announced its wholly owned subsidiary, NEXT Carbon Solutions, is developing one of the largest carbon capture and storage (CCS) projects in North America at Rio Grande LNG. NEXT Carbon Solutions’ CCS project at Rio Grande LNG is expected to enable the capture and permanent geologic storage of more than five million tonnes of carbon dioxide (CO2) per year. Combining responsibly sourced gas with the anticipated CO2 emissions reduction associated with NEXT Carbon Solutions’ CCS project is expected to enable Rio Grande LNG to produce the lowest lifecycle GHG LNG on a free-on-board basis and to be the greenest LNG project in the world.
“The differentiated market for responsibly sourced gas is expanding rapidly on a global scale as customers, investors and regulators seek, push for, and reward energy produced with the highest environmental standards,” said Chris Romer, Project Canary Co-Founder and Chief Executive Officer. “We’re proud of the important and growing role we’re playing in putting our independent technologies to work to help our customers and look forward to supporting NextDecade and the companies involved in its natural gas value chain in enhancing environmental performance, ensuring compliance with regulatory standards, and delivering on commercial commitments.”
A Denver-based B-Corp, Project Canary provides emissions monitoring data and related technologies across the energy value chain – from the production, transmission and marketing of responsibly sourced natural gas. Project Canary’s TrustWell™ certification is the premium standard for responsibly sourced gas. Trustwell™ certification, which scores across four primary categories of responsibility – air, water, land, and community – assigns ratings based on independent review and rigorous data analysis and has been involved in over 85 percent of responsibly sourced gas transactions in the United States to date. Project Canary has completed more than 5,500 TrustWell™ certifications, with over 1,000 in process, and by mid-year 2021 will have approximately 400 real-time emissions monitoring units deployed.
About NextDecade Corporation
NextDecade Corporation (NextDecade) is committed to providing the world access to cleaner energy. NextDecade, through its wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, is developing a 27 mtpa LNG export facility in South Texas along with one of the largest carbon capture and storage projects in North America. The Rio Grande LNG facility is expected to be the largest and greenest U.S. LNG export solution linking Permian Basin and Eagle Ford Shale natural gas to the global LNG market. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com.
About Project Canary
Project Canary, an International Environmental Standards company based in Denver, Colorado, is a mission-driven B-Corporation (approval pending) accountable to a double bottom line of profit and the social good. Project Canary believes it is possible to create a financially successful, self-sustaining business that “does well and does good.” Project Canary’s goal is to mitigate climate change by helping the energy value chain operate on a cleaner, more efficient, more sustainable basis. Its proven solutions provide real-time emissions monitoring and rigorous independent certification of oil and gas well sites for responsible operations. Project Canary helps organizations collect, manage, operationalize, and benefit from real-time, trusted, and independent environmental data. Project Canary also partners with the Colorado School of Mines Payne Institute to develop a collaborative environment for oil and gas companies and external parties to share best practices and insights garnered through continuous monitoring. For more information, please visit www.projectcanary.com.
NextDecade Forward-Looking Information
This press release contains forward-looking statements within the meaning of U.S. federal securities laws including, in particular, statements about the Company’s private placement of Series C Preferred Stock and the use of proceeds thereof. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design” and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on NextDecade’s current assumptions, expectations, and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include uncertainties about progress in the development of NextDecade’s LNG liquefaction and export projects and the timing of that progress; NextDecade’s final investment decision (“FID”) in the construction and operation of a LNG terminal at the Port of Brownsville in southern Texas (the “Terminal”) and the timing of that decision; the successful completion of the Terminal by third-party contractors and an approximately 137-mile pipeline to supply gas to the Terminal being developed by a third-party; NextDecade’s ability to secure additional debt and equity financing in the future to complete the Terminal; the accuracy of estimated costs for the Terminal; statements that the Terminal, when completed, will have certain characteristics, including amounts of liquefaction capacities; the development risks, operational hazards, regulatory approvals applicable to the Terminal’s and the third-party pipeline's construction and operations activities; NextDecade’s anticipated competitive advantage and technological innovation which may render its anticipated competitive advantage obsolete; the global demand for and price of natural gas (versus the price of imported LNG); the availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG industry, including environmental laws and regulations that impose significant compliance costs and liabilities; NextDecade’s ability to develop and implement carbon capture and storage or similar technology to reduce anticipated carbon emissions from the Terminal; global pandemics including the 2019 novel coronavirus pandemic and their impact on NextDecade’s business and operating results, including any disruptions in NextDecade’s operations or development of the Terminal and the health and safety of NextDecade’s employees, and on NextDecade’s customers, the global economy and the demand for LNG; risks related to doing business in and having counterparties in foreign countries; NextDecade’s ability to maintain the listing of its securities on a securities exchange or quotation medium; changes adversely affecting the business in which NextDecade is engaged; management of growth; general economic conditions; NextDecade’s ability to generate cash; compliance with environmental laws and regulations; the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s Annual Report on Form 10-K for the year ended December 31, 2020 and other subsequent reports filed with the Securities and Exchange Commission, all of which are incorporated herein by reference. Additionally, any development of the Terminal remains contingent upon completing required commercial agreements, acquiring all necessary permits and approval, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.
Patrick Hughes
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+1-832-209-8131
Brian Miller
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+1-202-669-3801
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