CINCINNATI--(BUSINESS WIRE)--Today, Mike Albert Fleet Solutions, a leading, national fleet management company based in Cincinnati, Ohio, announced another major step on its continued mission to help clients evolve their fleets and improve their ROI with electric vehicles (EVs). Mike Albert Fleet Solutions has entered into an agreement with Lordstown Motors, based in Lordstown, Ohio, for delivery of a significant quantity of the Lordstown Endurance pickup model on behalf of their clients who want work trucks that are more efficient, safer and more productive on the job than internal combustion engine trucks.
“We are very excited about forming this new working relationship with EV manufacturer, Lordstown Motors. Like us, they firmly believe EVs are the very near and bright future for a growing number of commercial fleets. And Lordstown Motors has the perfect prototype to prove it. The Endurance pickup is truly ‘built for work’ as Lordstown Motors touts. Its innovative, all-electric in-wheel drive system with four hub motors and integrated software really caught our attention and set the Endurance apart from other EV pickups we’ve seen,” said Jeff Hart, president of Mike Albert Fleet Solutions.
“For many years, we’ve been helping several of our clients, from coast to coast, make the transition to electric cars and vans in industries like car-sharing, ridesharing, taxis, black cars, municipalities, transportation as a service and car subscription services. And now, with the production of the Endurance fully up and running within the next year or so, we look forward to assisting our clients who need powerful, smart-tech, zero-emission, hyper-efficient, revenue-generating work trucks in their fleets,” said Hart.
As a leader in electric light duty trucks, Lordstown Motors is an Ohio-based original equipment manufacturer of fleet vehicles, founded with the purpose of transforming Ohio's Mahoning Valley and Lordstown, Ohio into the epicenter of electric-vehicle manufacturing. The Endurance’s revolutionary use of an in-wheel hub motor design is expected to improve performance, efficiency, and safety, while providing a significant reduction in total cost of ownership. Lordstown will be the only manufacturer of full-size electric pickup trucks focused exclusively on the large commercial fleet market and is expected to be the first to come to market with the innovative hub motor design.
“‘Ride with Lordstown’ is not just a company slogan or catchphrase – it is the representation of a movement designed to empower the spirit of innovation in all of us,” said Steve Burns, CEO of Lordstown Motors. “The growth of that movement in Voltage Valley rests in the prioritization of the needs of our community of partners, like Mike Albert Fleet Solutions, leading to the revitalization of the sustainable, electric technology for the region and beyond.”
Mike Albert Fleet Solutions is one of the top leaders in fleet electrification and EV fleet management, nationwide. The EV team at Mike Albert Fleet Solutions has developed strong relationships with EV manufacturers and has acquired extensive EV product knowledge through experience and research. Their expertise includes:
To learn more about fleet electrification and EV fleet management, visit mikealbert.com.
About Mike Albert
Mike Albert is a future-focused mobility company, 63 years in the making, that’s home to three business units – Fleet Solutions, Sales & Service and Rental. Mike Albert is proudly rooted in Cincinnati, Ohio, but serves clients nationwide. Whether you need the ways and means to transport people, products or services, Mike Albert associates pride themselves on matching you with the right vehicles, financing and services to help you achieve your goals today and tomorrow.
Mike Albert Fleet Solutions, a top 10 national fleet management company, offers end-to-end services including vehicle acquisition and remarketing, leasing and financing, maintenance management, fuel management, telematics data and truck and van equipment and branding. Mike Albert Fleet Solutions serves fleets of any size, in any industry, including service contracting, pest control, construction, food and beverage, delivery, grounds management and municipalities.
About Lordstown Motors Corp.
Lordstown Motors Corp. is an Ohio-based original equipment manufacturer of light duty fleet vehicles, founded by CEO Steve Burns with the purpose of transforming Ohio's Mahoning Valley and Lordstown, Ohio, into the epicenter of electric-vehicle manufacturing. The company owns the 785 acre, 6.2 million square foot Lordstown Assembly Plant where it plans to build the Lordstown Endurance, believed to be the world's first full-size, all-electric pickup truck designed to serve the commercial fleet market. For additional information visit www.lordstownmotors.com.
Forward-Looking Statements
This press release includes forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “feel,” “believes,” "expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: our limited operating history and our significant projected funding needs; risks associated with the conversion and retooling of our facility and ramp up of production; our inability to obtain orders from customers and potential customers’ inability to integrate our electric vehicles into their existing fleets; our inability to retain key personnel and to hire additional personnel; competition in the electric pickup truck market; our inability to develop a sales distribution network; and the ability to protect our intellectual property rights. Any forward-looking statements speak only as of the date on which they are made, and Lordstown Motors Corp. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Media Contacts:
For Mike Albert Fleet Solutions
Chris Parrott
VP, Marketing
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For Lordstown Motors Corp.
Ryan Hallett / Leigh Harmon
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HOUSTON--(BUSINESS WIRE)--Crestwood Midstream Partners LP (“CMLP”), a wholly-owned subsidiary of Crestwood Equity Partners LP (NYSE: CEQP), announced today that it has priced $700 million in aggregate principal amount of 6.00% unsecured Senior Notes due 2029 (the “Notes”) in a private offering (the “Notes Offering”) that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Notes will be guaranteed on a senior unsecured basis by all of CMLP’s subsidiaries that guarantee its existing notes and the indebtedness under its revolving credit facility (the “Revolving Credit Facility”). CMLP expects to close the offering on January 21, 2021, subject to customary closing conditions, and the Notes will be issued at par.
CMLP intends to use the net proceeds from the Notes Offering and borrowings under its Revolving Credit Facility to fund its obligations under the separately announced tender offer (the “Tender Offer”) for any and all of its outstanding 6.25% Senior Notes due 2023 (the “2023 Notes”), including fees and expenses in connection therewith. The Notes Offering is not conditioned on the consummation of the Tender Offer. The Tender Offer is conditioned on, among other things, the consummation of the Notes Offering.
The Notes and the related guarantees will be offered only to qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act, and outside the United States to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities or blue sky laws.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135(c) under the Securities Act.
Forward-Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal securities law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management’s control. These risks and assumptions are described in CMLP’s filings with the United States Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and subsequently filed 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 reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.
About Crestwood Midstream Partners LP
Houston, Texas, based CMLP is a limited partnership and wholly-owned subsidiary of CEQP that owns and operates midstream businesses in multiple shale resource plays across the United States. CMLP is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water.
Crestwood Midstream Partners LP
Investor Contact
Josh Wannarka, 713-380-3081
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Senior Vice President, Investor Relations,
ESG & Corporate Communications
Rhianna Disch, 713-380-3006
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Director, Investor Relations
NEW YORK--(BUSINESS WIRE)--Investment funds managed by Morgan Stanley Energy Partners (“MSEP”), part of Morgan Stanley Investment Management, announced today that they have completed an investment in Alpharetta, Georgia-based SolMicroGrid (“SolMicroGrid” or the “Company”). This strategic partnership will support the growth of SolMicroGrid’s business, which offers innovative microgrid solutions through an Energy-as-a-Service (“EaaS”) business model.
SolMicroGrid is a developer and operator of microgrid systems for commercial and industrial customers throughout North America. SolMicroGrid’s senior management team, led by Matthew Ward and Joyce Bone, has significant technical and operational microgrid and environmental services experience. The partnership with MSEP provides the Company with resources to accelerate the development of its assets, capabilities, and product offerings to its commercial and industrial customers. A portion of the proceeds from MSEP’s investment will go to support the initial deployment of SolMicroGrid’s solar-enabled microgrid systems to certain commercial and industrial customer locations in California. The microgrids will help protect those locations from power outages while providing cost-effective, renewable power.
John Moon, Head of Morgan Stanley Energy Partners, said: “We are delighted to be partnering with SolMicroGrid to develop innovative and efficient renewable energy systems for commercial and industrial customers. We believe this is a compelling opportunity to work with a forward-thinking, entrepreneurial management team and look forward to building on SolMicroGrid’s early success to provide clean and reliable on-site power to community-critical businesses.”
Matthew Ward, Co-Founder and CEO of SolMicroGrid, said, “We founded SolMicroGrid with a mission to provide customers with resilient, efficient and sustainable energy solutions utilizing the latest power generation and power storage equipment, all enabled by industry-leading software. We are excited to provide customers with a cost-effective and sustainable solution to rising electricity prices and grid instability. Morgan Stanley Energy Partners provides us with a strong sponsor who will assist us as we seek to build an industry-leading microgrid franchise.”
Joyce Bone, Co-Founder and President of SolMicroGrid, stated, “The rising cost and increasing complexity of sourcing not just clean but reliable power requires a new and innovative approach to the provision of electricity. We are excited to have the opportunity to share best-in-class solutions for our customers with the support of a world-class financial partner.”
Headquartered in Alpharetta, Georgia, SolMicroGrid is a differentiated developer and operator of solar-enabled microgrid systems offering energy resiliency and efficiency to commercial and industrial customers. For further information about SolMicroGrid, please visit www.solmicrogrid.com.
Vertical Capital Advisors served as financial advisor to SolMicroGrid’s Co-Founders.
About Morgan Stanley Energy Partners
Morgan Stanley Energy Partners, the energy-focused private equity business of Morgan Stanley Investment Management, is a leading energy private equity platform that makes privately negotiated equity and equity-related investments in energy companies located primarily in North America. Morgan Stanley Energy Partners pursues a differentiated investment strategy, focused on the buyout and build-up of strategically attractive, established energy businesses across the energy value chain in partnership with world-class management teams. For further information about Morgan Stanley Energy Partners, please visit www.morganstanley.com/im/energypartners.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 729 investment professionals around the world and $715 billion in assets under management or supervision as of September 30, 2020. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.
Media Relations: Lauren Bellmare, 212.761.5303
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast beginning at 9:00 a.m. Eastern Time (ET) on Thursday, January 28, 2021 to discuss fourth quarter 2020 earnings. The company plans to release its financial and operating results before the market opens that morning.
A webcast link and related presentation material will be included on the Investors page of the company’s website at http://ir.murphyoilcorp.com.
Date: Thursday, January 28, 2021
Time: 9:00 a.m. ET
Toll Free Dial-in: 888-886-7786
Conference ID: 95330576
ABOUT MURPHY OIL CORPORATION
As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. It challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events or results, are subject to inherent risks and uncertainties. Factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement include, but are not limited to: macro conditions in the oil and natural gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the US or global capital markets, credit markets or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the US Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.
Investor Contacts:
Kelly Whitley, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9107
Megan Larson, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9470
HOUSTON--(BUSINESS WIRE)--#cleanenergy--Lightsource bp has secured a proxy generation power purchase agreement (pgPPA) with the Capital Solutions unit of Allianz Global Corporate & Specialty (AGCS), in partnership with Nephila Climate. The pgPPA is for electricity generated by Lightsource bp’s 153 megawatt Briar Creek solar farm, located in Navarro County, Texas.
A pgPPA is an innovative renewable energy contract structure intended to manage weather related risk. A pgPPA is similar to a virtual PPA, except it settles energy on a proxy generation index rather than the metered generation. Proxy generation is an hourly index that specifies the volume of energy that a project would have produced if it had been operated as specified by the developer or owner. REsurety, Inc. provided analysis in support of the transaction and will serve as the calculation agent for the life of the contract.
“AGCS is excited to collaborate with Lightsource bp on this novel renewable energy hedge structure and risk management tool,” said Vijay Suchdev, Managing Director at AGCS. “We are committed to working with our partners to achieve their sustainability goals and to supporting the long-term global growth of renewable energy.”
The Briar Creek solar farm, located about 40 miles south of Dallas, is expected to start commercial operation at the end of 2021.
“This deal is a great example of the evolution of renewable energy products here in the US,” said Kevin Smith, CEO of Lightsource bp in the Americas. “Innovative power contract structures such as virtual and proxy generation PPA’s are valuable tools we can leverage to meet the needs of our corporate partners, manage risk, and continue to finance and build new solar projects for our low carbon future.”
“Nephila Climate is pleased to be playing a part in the realization of the Briar Creek solar farm, and Lightsource bp’s mission to deliver affordable and sustainable solar power in the US and around the world,” said Ariane West, Director of Structured Finance, Nephila Climate. “Risk transfer solutions designed to meet the needs of the renewable energy market are essential to support investment and financing of infrastructure on the scale needed to achieve zero carbon targets. We are proud to be working with market leading partners to create those solutions.”
The solar project will also deliver local economic benefits beyond clean and economical electricity for the Dallas Fort Worth area. The project:
About Lightsource bp
Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Our team is comprised of 500 industry specialists, working across 14 countries. We provide a full service to our customers, from initial site selection, financing and permitting through to long-term management of solar projects. Lightsource bp in the US is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Houston. Since the company announced its strategic expansion into North America in late 2017, the team has developed a pipeline of more than 8 gigawatts of large-scale solar projects at various stages of development across the United States with about 2 gigawatts of contracted assets representing almost $2 billion in near term projects. For more information visit lightsourcebp.com, follow us on Twitter @lightsourceBP and Instagram @lightsourcebp or view our LinkedIn page. For media inquiries, please contact Mary Grikas at This email address is being protected from spambots. You need JavaScript enabled to view it..
About Allianz Global Corporate & Specialty
Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business. Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators and Hollywood film productions. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.
Worldwide, AGCS operates with its own teams in 31 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,450 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong financial ratings. In 2019, AGCS generated a total of €9.1 billion gross premium globally. www.agcs.allianz.com
About Nephila Climate
Nephila Capital Ltd is a leading investment manager specializing in (re)insurance and weather risk. Nephila Climate is a dedicated weather and climate risk transfer and ESG-driven business linked to climate resilience and sustainability. Nephila offers a broad range of investment products focusing on instruments such as insurance-linked securities, catastrophe bonds, insurance swaps, and private transactions. Nephila Capital Ltd has approximately $10.2 billion in assets under management of as of December 1, 2020 and has been managing institutional assets in this space since it was founded in 1998. The firm is headquartered in Bermuda, with offices in San Francisco, CA, Nashville, TN and London. There are currently over 260 employees with expertise in finance, seismic engineering, catastrophe and climate modeling, risk management and traditional underwriting. Further information can be found at nephilaclimate.com or nephila.com
About REsurety
REsurety, Inc. is the leading provider of valuation analytics and risk management services to buyers and sellers of renewable energy. With deep expertise at the intersection of weather and power markets, REsurety has built unrivaled databases and analytical systems that enable a more precise understanding of the value and risk of intermittent power generation. Having supported nearly 7,000 MW of transactions since 2015, REsurety is rapidly changing the way renewable energy is bought and sold across the globe. For more information, visit www.resurety.com.
Mary Grikas
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THE WOODLANDS, Texas--(BUSINESS WIRE)--Epsilyte, a leading North American producer of Expandable Polystyrene (EPS), will increase the price of all grades of EPS by $0.04/lb., effective February 1, 2021 or as contracts permit. This adjustment is necessary based on the need for the business to achieve reinvestment economics.
About Epsilyte
Epsilyte is one of North America’s leading producers of expandable polystyrene resin. We are a company of scale focused on solving customer needs for efficient, high-R value EPS. This includes reducing energy usage in buildings, ensuring safe and healthy food through innovative packaging technology, and participating in infrastructure investment both in the United States and abroad. Epsilyte is a portfolio company of Balmoral Funds LLC.
Epsilyte Contact:
Todd Galliart
Business Manager
Cell: 409-422-5903
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DUBLIN--(BUSINESS WIRE)--The "International Oil Companies' Investments in Renewables - Energy Transition Strategies" report has been added to ResearchAndMarkets.com's offering.
Many International Oil Companies (IOCs), particularly in Europe, are proactively investing in the development of renewables in order to diversify their businesses and to better position for the energy transition. Those IOCs investing significantly in renewables are primarily building portfolios around solar PV, which provides potential for rapid and low-cost capacity development, and offshore wind, where they may benefit from knowledge transfer from existing offshore oil and gas operations.
Scope
Reasons to Buy
Key Topics Covered:
Executive Summary
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/dvm9se
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
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DUBLIN--(BUSINESS WIRE)--The "Robotic Drilling Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The robotic drilling market is expected to record a CAGR of over 6% during the forecast period of 2020 - 2025.
Factors, such as increased exploration activity and focus on development of new oil and gas fields in a risk free, cost efficient, and time efficient manner, are expected to help drive the market for robotic drilling systems. However, the volatile nature of oil prices in recent years, concerns over cyber security, and high initial cost have hampered the growth of robotic drilling market.
The onshore is expected to have the maximum share in the market. Onshore drilling encompasses all the drilling sites located on dry land and accounts for 70% of worldwide oil production.
The demand for oil and gas production have always been on an increase, which have led to increased exploration activities, this in turn is expected to help grow the market in the forecast period. Also, there has been an increasing demand of a safe and time efficient drilling method, such as robotic drilling systems. The total rig count increased by 18% from 933 in beginning of 2017 to 1104 by the end of 2019, in the same time period the offshore rig count increased by 24% from 206 to 257.
North America is the biggest market for robotic drilling, owing to the increased drilling activity in shale plays in the region. The recent development of shale plays, horizontal drilling and fracking have resulted in an increase in demand of a faster and time efficient robotic drilling system in the region.
Key Market Trends
Onshore to Dominate the Market
The market for robotic drilling systems saw a growth slowdown owing to the volatile oil prices in recent years, but with the oil prices becoming stable the market is expected to show a growth in the forecast period.
North America to Dominate the Market
North America is a major market for robotic drilling systems, owing to the recent shale gas exploration in the region in recent years. Exploration in Gulf of Mexico is also on rise further complimenting the robotic drilling systems market in the region.
Competitive Landscape
The robotic drilling market is consolidated with few active players. Some of the key players being National-Oilwell Varco Inc., Nabors Industries Ltd, Drillform Technical Services Ltd, Huisman Equipment BV, Drillmec Inc., among others.
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Active Rig Count and Forecast,till 2025
4.4 Historic and Demand Forecast of Upstream CAPEX in USD billion, by Onshore and Offshore, 2017-2025
4.5 Recent Trends and Developments
4.6 Market Dynamics
4.6.1 Drivers
4.6.2 Restraints
4.7 Supply Chain Analysis
4.8 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Deployment
5.1.1 Onshore
5.1.2 Offshore
5.2 Installation
5.2.1 New Build
5.2.2 Retrofit
5.3 Component
5.3.1 Hardware
5.3.2 Software
5.4 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Ensign Energy Services Inc.
6.3.2 Huisman Equipment BV
6.3.3 Drillmec Inc.
6.3.4 Sekal AS
6.3.5 Abraj Energy Services SAOC
6.3.6 Drillform Technical Services Ltd.
6.3.7 National-Oilwell Varco, Inc.
6.3.8 Rigarm Inc.
6.3.9 Automated Rig Technologies Ltd
6.3.10 Nabors Industries Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/xbdrao
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Regulatory News:
TechnipFMC plc (the “Company”) (NYSE: FTI) (Paris: FTI) (ISIN:GB00BDSFG982) today announced the resumption of activities toward its planned separation into two industry-leading, independent, publicly traded companies: TechnipFMC, a fully integrated technology and services provider; and Technip Energies, a leading engineering and technology player. The separation would enhance TechnipFMC’s and Technip Energies’ focus on their respective strategies and provide both improved flexibility and growth opportunities, with each company uniquely positioned to capitalize on the energy transition.
The transaction is expected to be structured as a spin-off of a majority stake in TechnipFMC’s Technip Energies segment. The separation is expected to be completed in the first quarter of 2021, subject to customary conditions and regulatory approvals.
The two companies would have:
Doug Pferdehirt, Chairman and CEO of TechnipFMC, stated, “We are very excited to announce the resumption of activities related to the separation and the creation of two industry-leading diversified pure-play companies poised to capitalize on the energy transition. The increased clarity we now have in the market outlook coupled with our demonstrated ability to successfully execute projects in this most challenging period give us confidence to move forward with the separation. We continue to believe this action would allow both businesses to thrive independently within their sectors, enabling each to unlock significant shareholder value.”
Bpifrance, which has been a substantial shareholder of TechnipFMC since 2009, is committed to support the transaction and intends to invest $200 million in Technip Energies by acquiring shares from TechnipFMC’s retained stake in Technip Energies. Shares received by Bpifrance for the new investment would be in addition to those it will receive as a current shareholder of TechnipFMC. As a result, Bpifrance will become a long-term reference shareholder of Technip Energies, supporting its energy transition-focused strategy.
Transaction Details
The Company intends to distribute 50.1 percent of the outstanding shares in Technip Energies to existing TechnipFMC shareholders on a pro rata basis. TechnipFMC will retain ownership of the remaining 49.9 percent of Technip Energies’ outstanding shares as of the distribution date.
Bpifrance’s $200 million investment in Technip Energies is subject to adjustment, and the incremental ownership stake will be determined based upon the first thirty day volume-weighted average price (“VWAP”) of Technip Energies’ shares, less a six percent discount. Bpifrance’s investment is subject to customary conditions and regulatory approval. The sale of shares to Bpifrance will further reduce TechnipFMC’s ownership in Technip Energies.
The Company intends to conduct an orderly sale of its stake in Technip Energies over time. The Company has further agreed to a lockup period that expires 60 calendar days from the date of separation.
Technip Energies will be incorporated in the Netherlands with its headquarters in Paris. Technip Energies’ listing will be on Euronext Paris, with Level 1 ADRs that will trade over-the-counter in the United States.
Following separation, TechnipFMC and Technip Energies are expected to be appropriately capitalized with sufficient cash to support anticipated operating and investment plans. We have provided a pro forma capital structure based on an estimated cash position of $4.6 billion at the time of separation and the implementation of a targeted capital structure that reflects a reduction in the total outstanding debt. Notable items for both entities would be as follows (which figures are subject to change based on ordinary conduct of business of both entities and the timing of the transaction):
Pro forma capital structure |
TechnipFMC |
Technip Energies |
(In millions) |
||
Cash and cash equivalents |
$500 |
$3,600 |
Debt1 |
($2,200) |
($900) |
Net (debt) cash |
($1,700) |
$2,700 |
|
|
|
Revolving credit facility |
|
|
Capacity (undrawn at separation) |
$1,000 |
€750 |
1Financing commitments for both companies have been secured from leading international financial institutions. TechnipFMC will retain the outstanding public and private debt but for the European commercial paper program that will be retained by Technip Energies.
The Company believes that the allocation of cash and debt will allow Technip Energies to attain an investment grade capital structure upon completion of the separation. The Company also believes that TechnipFMC’s pro forma capital structure has the ability to support an investment grade rating by at least one credit rating agency.
The successful completion of the planned spin-off is subject to general market conditions, regulatory approvals and final Board approval.
Upcoming Events
Technip Energies will host a Capital Markets Day (“CMD”) event prior to the separation where it will (1) highlight Technip Energies’ extensive project delivery capability and technology, products and services offering, (2) discuss its long-term strategic vision and unique positioning in the energy transition and (3) review its financial performance.
In advance of the CMD, Technip Energies will publicly file a draft registration statement with the U.S. Securities and Exchange Commission on Form F-1 (the “F-1”). In advance of the spin-off, Technip Energies will publicly file definitive versions of the F-1 as well as a European prospectus that has been approved by the Dutch Authority for the Financial Markets (Stichting Autoriteit Financiële Markten) and passported to the French Autorité des marchés financiers. The F-1 and European prospectus will include carve-out financials for the years ended December 31, 2017, 2018 and 2019 and for the six months ended June 30, 2020 under International Financial Reporting Standards (“IFRS”) as adopted by the European Union.
The Company will also make available historical, pro forma financial information under U.S. GAAP for TechnipFMC for the years ended December 31, 2017, 2018 and 2019 and for the three months ended March 31, June 30, and September 30 of 2020.
Advisors
Rothschild & Co. is acting as financial advisor, and Latham & Watkins, LLP is acting as a legal advisor with Darrois Villey Maillot Brochier and De Brauw Blackstone Westbroek N.V. serving as additional legal advisors, to the Company.
About TechnipFMC (“RemainCo”)
With approximately 21,000 employees, TechnipFMC would be the largest diversified pure play in the industry. The Company’s role will be to support clients in the delivery of unique, integrated production solutions. TechnipFMC will continue to transform the industry through its pioneering integrated delivery model – iEPCI™, technology leadership and digital innovation.
Doug Pferdehirt, Chairman and Chief Executive Officer of TechnipFMC, and Maryann Mannen, Executive Vice President and Chief Financial Officer of TechnipFMC, will continue to serve in their roles following the separation. TechnipFMC will remain incorporated in the United Kingdom with headquarters in Houston and listings on both the NYSE and Euronext Paris.
About Technip Energies
With approximately 15,000 employees, Technip Energies would be one of the largest engineering and technology companies globally, with leadership positions in LNG, hydrogen and ethylene as well as growing market positions in sustainable chemistry and CO2 management. In addition, the new company will benefit from its robust project delivery model and extensive technology, products and services offering. The company would comprise the Technip Energies segment, including Genesis – a leader in advisory services and front end engineering.
Technip Energies will be led by an experienced, proven management team. Arnaud Pieton, who currently serves as President Technip Energies, will serve as Chief Executive Officer. Bruno Vibert will serve as Chief Financial Officer, and Marco Villa will serve as Chief Operating Officer.
Important Information for Investors and Securityholders
Forward-looking statements
This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Words such as “expect,” “plan,” “intend,” “would,” “will,” and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, and include any statements with respect to the potential separation of the Company into TechnipFMC and Technip Energies, the expected financial and operational results of TechnipFMC and Technip Energies after the potential separation and expectations regarding TechnipFMC’s and Technip Energies’ respective capital structures, businesses or organizations after the potential separation. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the U.S. Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, our filings with the Autorité des marchés financiers or the U.K. Financial Conduct Authority, as well as the following:
We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
Disclaimers
This press release is intended for informational purposes only for the shareholders of TechnipFMC, the majority of whom reside in the United States, the United Kingdom and Europe. This press release does not constitute a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017 (the “Prospectus Regulation”), and Technip Energies’ shares will be distributed in circumstances that do not constitute “an offer to the public” within the meaning of the Prospectus Regulation. This press release is not intended for distribution in jurisdictions that require prior regulatory review and authorization to distribute a press release of this nature.
All figures presented herein are in accordance with generally accepted accounting principles (“GAAP”) in the United States other than net (debt) cash, which is a non-GAAP financial measure reflecting cash and cash equivalents, net of debt. The Company’s management uses this non-GAAP financial measure to evaluate our capital structure and financial leverage. We believe net debt, or net cash, is a meaningful financial measure that may assist investors in understanding our financial condition and recognizing underlying trends in our capital structure. Net (debt) cash should not be considered as an alternative to, or more meaningful than, cash and cash equivalents as determined in accordance with U.S. GAAP or as an indicator of our operating performance or liquidity. Technip Energies will report under IFRS with the euro as its functional currency.
###
About TechnipFMC
TechnipFMC is a global leader in the energy industry; delivering projects, products, technologies and services. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our customers’ project economics.
Organized in three business segments — Subsea, Surface Technologies and Technip Energies — we are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our customers in developing their energy resources and in their positioning to meet the energy transition challenge.
Each of our approximately 36,000 employees is driven by a steady commitment to clients and a culture of project execution, purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.
TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world’s energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
Matt Seinsheimer
Vice President Investor Relations
Tel: +1 281 260 3665
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Phillip Lindsay
Director Investor Relations (Europe)
Tel: +44 (0) 20 3429 3929
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Media relations
Christophe Bélorgeot
Senior Vice President Corporate Engagement
Tel: +33 1 47 78 39 92
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Brooke Robertson
Public Relations Director
Tel: +1 281 591 4108
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DUBLIN--(BUSINESS WIRE)--The "Hydropower Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The hydropower market is expected to register a CAGR of more than 2.5% over the period of 2020-2025.
Factors, such as efforts to reduce reliance on fossil fuel-based power generation, coupled with a large number of upcoming projects particularly in the Asia-Pacific region, are expected to drive the market during the forecast.
Company Profiles
Key Market Trends
Large Hydropower to Dominate the Market
Asia-Pacific to Dominate the Market
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Installed Capacity and Forecast in GW, till 2025
4.3 Hydropower Installed Capacity Share, by Major Country, 2018
4.4 Hydroelectricity Generation in TWh, till 2025
4.5 Projects in Pipeline and Upcoming Hydropower Projects
4.6 Recent Trends and Developments
4.7 Government Policies and Regulations
4.8 Market Dynamics
4.8.1 Drivers
4.8.2 Restraints
4.9 Supply Chain Analysis
4.10 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Size
5.1.1 Large Hydropower
5.1.2 Small Hydropower
5.1.3 Other Sizes
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 South America
5.2.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/9f7yvr
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Lubricants for Wind Turbine Market Analysis By Lubricant Type, By Oil Replacement Cycle, By Turbine Component, By Application And Segment Forecasts, 2017-2026" report has been added to ResearchAndMarkets.com's offering.
The increasing installation of wind turbines, coupled with increasing government regulations to support renewable energy sources, is likely to stimulate demand.
Market Size in 201: USD 132.51 million, Market Growth - CAGR of 8%
The Global Lubricants For Wind Turbine Market is projected to grow at a CAGR of 8% in the forecast period, according to our recent analysis. The increased adoption of wind energy globally is a key factor affecting the market growth. This can be mainly associated with increased efficiency of renewable energy sources coupled with growing awareness of GHG emissions and energy security.
Additionally, advancements in wind technology have also led to an increase in the adoption of wind turbines. There have been improvements in wind turbines, and the related technology has evolved over time. For instance, countries have been focusing on increasing the size of their turbines. Along with this, the average capacity factors of the turbines have also increased. This can be mainly associated with larger rotors and improved design. Thus, countries have started shifting to wind energy for power generation. With an increase in the number of wind turbines and turbine size, the demand for lubricants for wind turbines will also increase significantly.
Europe is expected to dominate the market for lubricants for wind turbines over the forecast period and grow at a CAGR of 8.9%. The regulatory and economic scenario in Europe is expected to significantly change the wind energy perspective for the next few years. At the end of 2017, Germany accounted for the largest share of the installed power capacity. The installed power capacity rose from 28712 MW in 2011 to 55876 MW in 2017.
The offshore installed capacity has also witnessed a rise of almost 30 percent since 2016. Similarly, Spain and the U.K. have also experienced a significant rise in their installed capacity. Lower wind-power installation cost is also anticipated to foster market growth. As compared to 2012, the OEM's reported a 2-11% decline in costs in the region.
Further key findings from the report suggest
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/qmdcxy.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) today announced that its Board of Directors has appointed Stacey Doré as an independent director on the Board, effective January 6, 2021.
Ms. Doré brings 23 years of experience in energy and law. She currently serves as chief executive officer of Sharyland Utilities, L.L.C., an electric utility that owns and develops transmission infrastructure assets in Texas. Ms. Doré previously served as senior vice president and general counsel of a publicly traded real estate investment trust that owned electric transmission assets. Between 2008 and 2016, she served in roles of increasing responsibility for a privately held company with a portfolio of competitive and regulated energy companies, including the largest electric delivery utility in Texas.
At Williams, Doré will serve as a member of the Board’s Governance and Sustainability Committee and the Audit Committee.
“We are excited to add Stacey’s broad experience to the Board as we further position Williams as a leader in the clean energy economy,” said Stephen W. Bergstrom, chairman of the Williams Board of Directors. “We believe Stacey’s business acumen and analytical skills will benefit future decisions of the Williams Board as we execute our mission of delivering long-term value and growth for the company and its shareholders.”
With the appointment of Ms. Doré, the Williams Board of Directors consists of 13 members, 12 of whom are independent.
About Stacey Doré
Ms. Doré currently serves as president and chief executive officer of Sharyland Utilities, L.L.C., a regulated Texas-based electric transmission utility. She also serves as president of Hunt Utility Services, a business services company that manages Sharyland Utilities, and senior vice president of Utility & Power Operations for Hunt Energy, a diversified global company that invests in oil and gas exploration and production, refining, and electric power projects. Prior to this she served as senior vice president and general counsel of InfraREIT, Inc. until its sale in 2019. Ms. Doré previously held leadership positions of increasing responsibility with Energy Future Holdings, a privately held company with a portfolio of competitive and regulated energy companies, eventually serving as executive vice president, general counsel, and co-chief restructuring officer. Before her entry into the energy industry, Ms. Doré practiced law for more than a decade with Vinson & Elkins after earning her degree from Harvard Law School. She also holds a Bachelor of Arts degree in journalism from the University of Southwestern Louisiana.
About Williams
Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use.
MEDIA:
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(800) 945-8723
INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075
TAIPEI, Taiwan--(BUSINESS WIRE)--#datacenter--Wiwynn (TWSE: 6669), an innovative cloud IT infrastructure provider, today announced the company have finalized the Renewable Power Purchase Agreement with Mr. Watt, the first renewable electricity retailer in Taiwan. This action marks Wiwynn as the first company in the information service industry to adopt renewable energy in Taiwan since the amendment of The Electricity Act.
Being heavily involved in the cloud data center solution industry, Wiwynn innovates continuously to improve the power efficiency and effectiveness of data center solutions. As many hyperscale data center providers aim at carbon neutral or 100 percent renewable energy, Wiwynn takes a step further by emphasizing the utilization of renewable energy and carbon reduction for its operations. Furthermore, not only did they receive an A- for Climate Change in Carbon Disclosure Project (CDP), the company started their green power procurement plan back in May, 2020.
“Going green has always been a common goal for the data center industry, where the operation of data centers are energy-intensive. It isn’t just critical competitiveness for Wiwynn, but also our commitment to corporate social responsibility for sustainable operation as a citizen of the earth,” said Emily Hong, CEO of Wiwynn Corp. “Our plan is, from 2021, to have at least 10 percent of the energy consumption replaced by renewable energy at the Taipei headquarters, and gradually increase this amount and ratio.”
”Companies nowadays value more about corporate sustainability, they started to apply sustainable approaches through economic, environmental and social factors,” said Kai Yi Lin, co-founder of Mr. Watt. “To remain competitive, corporates aim to improve their ranking on Climate Change in Carbon Disclosure Project (CDP) and Dow Jones Sustainability Index (DJSI). Renewable energy adoption is one of the most critical factors to achieve good scores. Mr. Watt launches several projects, which support the UN’s Sustainable Development Goals (SDGs), to assist companies to transit their energy usage into renewable energy sources.”
Wiwynn's Renewable Power Purchase Agreement with Mr. Watt was based on an amendment made to the Electricity Act, which allows enterprise to directly purchase from an electricity retailing enterprise with the Power Purchase Agreement (PPA). Base on the Agreement, Mr.Watt will sell the solar energy generated in National Tainan Girl’s Senior High School to Wiwynn. The high school stepped out of the feed-in-tariff framework to realize this agreement, becoming the first of an educational faculty to sell renewable energy to an enterprise in Taiwan. This created a win-win situation for both Wiwynn and National Tainan Girl’s Senior High School, where the enterprise is able to “go green”, and the high school gaining educational value.
About Wiwynn
Wiwynn is an innovative cloud IT infrastructure provider of high quality computing and storage products, plus rack solutions for leading data centers. We aggressively invest in next generation technologies for workload optimization and best TCO (Total Cost of Ownership). As an OCP (Open Compute Project) solution provider and platinum member, Wiwynn actively participates in advanced computing and storage system designs while constantly implementing the benefits of OCP into traditional data centers.
For more information, please visit Wiwynn website or contact This email address is being protected from spambots. You need JavaScript enabled to view it.
Follow Wiwynn on Facebook and Linkedin for the latest news and market trends.
Bing Wu This email address is being protected from spambots. You need JavaScript enabled to view it.
Wiwynn Corporation
DUBLIN--(BUSINESS WIRE)--The "Industrial X-ray Films - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The publisher brings years of research experience to the 7th edition of this report. The 186-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Industrial X-ray Films Market to Reach $64.6 Million by 2027
Amid the COVID-19 crisis, the global market for Industrial X-ray Films estimated at US$46.4 Million in the year 2020, is projected to reach a revised size of US$64.6 Million by 2027, growing at a CAGR of 4.8% over the analysis period 2020-2027.
Oil & Gas, one of the segments analyzed in the report, is projected to record a 5.4% CAGR and reach US$25.3 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Automotive segment is readjusted to a revised 4.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $12.5 Million, While China is Forecast to Grow at 7.9% CAGR
The Industrial X-ray Films market in the U.S. is estimated at US$12.5 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$13.7 Million by the year 2027 trailing a CAGR of 7.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.
Aerospace & Defense Segment to Record 4.4% CAGR
In the global Aerospace & Defense segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.3 Million in the year 2020 will reach a projected size of US$9.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$8.7 Million by the year 2027, while Latin America will expand at a 4.7% CAGR through the analysis period.
Competitors identified in this market include, among others:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/6bq32l
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Represents Corrosion Control and Protective Coatings Industries
WASHINGTON--(BUSINESS WIRE)--#AMPP--To create a unified voice for the corrosion control and protective coatings industries, a new association launched today at a global virtual event. The new organization, the Association for Materials Protection and Performance (AMPP), was formed by a merger between Houston-based NACE International, The Corrosion Society, and Pittsburgh-based SSPC: The Society for Protective Coatings. AMPP’s name, logo, and other brand elements were revealed at the event led by AMPP CEO Bob Chalker and the organization’s executive leadership.
“AMPP brings together the world’s leading corrosion prevention and protective coatings organizations under one umbrella,” said Chalker. “With a vision to create a safer, protected, and sustainable world, the new association will focus on the future of materials protection and performance.”
With more than 40,000 members in 130 countries, AMPP consists of two governance structures— AMPP, a 501(c)(6), and AMPP Global Center, a 501(c)(3). AMPP provides services to members in the areas of certification, accreditation, membership, advocacy and public affairs, and AMPP Global Center focuses on standards, technical and research activities, conferences, events, education, training, publications and pre-professional programming.
“No other organization offers the depth and breadth of materials protection and performance information, standards, education, certification, and contractor accreditation programming that AMPP now provides,” said Tim Bieri, Chair of the AMPP Board of Directors and Vice President for Materials & Corrosion Engineering, bp America, Houston. “Through AMPP, we will be able to raise the level of excellence of our professional community and have a greater impact on society through our expanded network of members worldwide.”
“I’m looking forward to bringing together the expertise that’s been instrumental in developing standards, training, publications, and other technical resources that support our members and advance our industry,” said Joyce Wright, AMPP Global Center’s Chair, and Trade Manager for Strategy and Innovation, Huntington Ingalls Industries – Newport News Shipbuilding, Hampton, Virginia. “With one voice contractors, owners, craftsmen, manufacturers, corrosion experts, consultants, and industry stakeholders, will do more to protect society across the globe.”
While the AMPP staff has been working together seamlessly since October, some program details such as accreditation and certification continue to evolve. For the near future, NACE and SSPC accreditations and certifications will remain as they are currently.
“For years AMPP’s new combined membership has been aligned in one very important way, our members are dedicated to protecting infrastructure and assets from corrosion and deterioration. Guided by this common purpose we will be a stronger, more powerful voice for our industry by working together,” said Chalker.
For more information about AMPP or to view the new logo, visit www.ampp.org
About AMPP
The Association for Materials Protection and Performance, AMPP, is the world’s leading organization focused on the protection of assets and performance of materials. AMPP was created when NACE International and SSPC united after more than 145 combined years of corrosion control and protective coatings expertise, and service to members worldwide. Today, AMPP is active in more than 130 countries and has more than 40,000 members. AMPP is headquartered in the U.S. with offices in Houston, Texas and Pittsburgh, Pennsylvania. Additional offices are located in the U.K., China, Malaysia, Brazil, and Saudi Arabia with a training center in Dubai.
Alysa Reich, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-827-3401
HOUSTON--(BUSINESS WIRE)--Crestwood Midstream Partners LP (“CMLP”), a wholly-owned subsidiary of Crestwood Equity Partners LP (NYSE: CEQP), announced today its intention, subject to market and other conditions, to offer $700 million in aggregate principal amount of unsecured Senior Notes due 2029 (the “Notes”) in a private offering (the “Notes Offering”) that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Notes will be guaranteed on a senior unsecured basis by all of CMLP’s subsidiaries that guarantee its existing notes and the indebtedness under its revolving credit facility (the “Revolving Credit Facility”).
CMLP intends to use the net proceeds from the Notes Offering and borrowings under its Revolving Credit Facility to fund its obligations under the separately announced tender offer (the “Tender Offer”) for any and all of its outstanding 6.25% Senior Notes due 2023 (the “2023 Notes”), including fees and expenses in connection therewith. The Notes Offering is not conditioned on the consummation of the Tender Offer. The Tender Offer is conditioned on, among other things, the consummation of the Notes Offering.
The Notes and the related guarantees will be offered only to qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act, and outside the United States to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities or blue sky laws.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135(c) under the Securities Act.
Forward-Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal securities law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management’s control. These risks and assumptions are described in CMLP’s filings with the United States Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and subsequently filed 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 reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.
About Crestwood Midstream Partners LP
Houston, Texas, based CMLP is a limited partnership and wholly-owned subsidiary of CEQP that owns and operates midstream businesses in multiple shale resource plays across the United States. CMLP is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water.
Crestwood Midstream Partners LP
Investor Contact
Josh Wannarka, 713-380-3081
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Senior Vice President, Investor Relations,
ESG & Corporate Communications
Rhianna Disch, 713-380-3006
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Director, Investor Relations
MIAMI--(BUSINESS WIRE)--Global Risk Solutions, Inc., a leading provider of a diverse range of claims adjusting and environmental risk management solutions, is pleased to announce it has acquired R Winkler & Co. LLC. Sugar Land, Texas-based R Winkler & Co. specializes in energy loss adjusting and consulting services for insurance markets in the oil & gas and energy sectors.
“R Winkler & Co., led by founder Rodney Winkler, brings a team of expert adjusters with extensive experience in complex claims to GRS,” said Kip Radigan, Group CEO of GRS. “As part of our Complex Claims Solutions business unit, R Winkler & Co. further enhances our capabilities in serving clients with large and complex losses.”
“Rodney Winkler and his team have built an impressive firm in a highly specialized field,” said Bill Kramer, CEO of GRS’ Complex Claims Solutions USA, who joined GRS in 2020 through the acquisition of William Kramer & Associates. “Their expertise in the multifaceted energy industry and experience handling complicated losses worldwide complements GRS’ breadth and depth in complex claims.”
GRS’ Complex Claims Solutions (CCS) specializes in large and complex property claims, which often involve third-party losses. R Winkler & Co. serves clients with claims in all segments of the energy industry, including operator’s extra expense, control of well, physical damage, pollution, business interruption and general liability.
“Combining our strengths with Global Risk Solutions will benefit clients of both our firms,” said Rodney Winkler, founder and principal of R Winkler & Co. LLC. “As part of GRS, we are able to extend our reach and deliver even more responsive energy loss services.”
Terms of the acquisition were not disclosed.
About Global Risk Solutions
Global Risk Solutions enables corporate and insurance industry clients to respond to property and casualty claims, natural catastrophes, and environmental events quickly and effectively by delivering people, process and technology to manage risk and contain costs. Headquartered in Miami, with global reach and offices in London and throughout the United States, we offer a diverse range of claims adjusting and environmental risk management services. For more information, please visit www.globalrisksolutions.com.
About R Winkler & Co. LLC
R Winkler & Co. provides energy loss adjusting and consulting services to oil and gas/energy insurance markets and professionals worldwide. Our team consists of licensed loss adjusters with extensive complex claims experience in the upstream, midstream, downstream and multifaceted energy industry. Our core philosophy is to provide clients with unmatched technical support and custom-tailored work products that simplify and expedite resolution of complicated loss scenarios. For more information, please visit www.rwinkler.com.
Kip Radigan
Group CEO
Global Risk Solutions, Inc.
941.907.4773
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BOSTON--(BUSINESS WIRE)--XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leader in vehicle electrification solutions for commercial and municipal fleets, today announced that members of its executive leadership team, including Tod Hynes, President & Founder of XL Fleet, and Dimitri Kazarinoff, Chief Executive Officer, plan to participate in the following upcoming virtual investor conferences:
The Company will participate in a variety of ways depending on the format of the event, including panel discussions, presentations and investor meetings. For additional information, please visit XL Fleet’s Investor Relations website at https://investors.xlfleet.com.
About XL Fleet Corp.
XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America, with more than 140 million miles driven by customers such as The Coca-Cola Company, Verizon, Yale University and the City of Boston. XL Fleet’s hybrid and plug-in hybrid electric drive systems can increase fuel economy up to 25-50 percent and reduce carbon dioxide emissions up to 20-33 percent, decreasing operating costs and meeting sustainability goals while enhancing fleet operations. XL Fleet’s plug-in hybrid electric drive system was named one of TIME magazine's best inventions of 2019. For additional information, please visit www.xlfleet.com.
Forward Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to failure to realize the anticipated benefits from the business combination; the effects of pending and future legislation; the highly competitive nature of the Company’s business and the commercial vehicle electrification market; litigation, complaints, product liability claims and/or adverse publicity; cost increases or shortages in the components necessary to support the Company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to convert its sales opportunity pipeline into binding orders; risks related to the rollout of the Company’s business and the timing of expected business milestones; the effects of competition on the Company’s future business; the availability of capital; and the other risks discussed under the heading “Risk Factors” in the definitive proxy statement/prospectus filed on December 8, 2020 and other documents that the Company files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements.
Media Contacts:
Eric Foellmer, Director of Marketing
(617) 648-8555
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Investor Contact:
Marc Silverberg, Partner (ICR)
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BROOKLYN HEIGHTS, Ohio--(BUSINESS WIRE)--GrafTech International Ltd. (NYSE:EAF) will hold its Fourth Quarter and Full Year 2020 Conference Call and Webcast on Friday, February 5, 2021 at 10:00 a.m. (EST). The call will be hosted by senior management to discuss unaudited financial results for the quarter and year ended December 31, 2020 and current business initiatives.
These financial results will be released on Friday, February 5, 2021 before market open and will be available on our investor relations website at http://ir.graftech.com.
To participate in the conference call, please dial +1 (866) 521-4909 toll-free in the U.S. and Canada or for overseas calls please dial +1 (647) 427-2311, conference ID: 8956898. Please plan to dial in approximately fifteen minutes early.
Live audio of the conference call will be available via webcast on our website or can be accessed at:
https://onlinexperiences.com/Launch/QReg/ShowUUID=232E1E86-B70F-4EAE-904C-22FBA0FF7801
A replay of the Conference Call will be available until May 5, 2021 by dialing +1 (800) 585-8367 toll-free in the U.S. and Canada or +1 (416) 621-4642 for overseas calls, conference ID: 8956898. A replay of the webcast will be available on our investor relations website until May 5, 2021.
About GrafTech
GrafTech International Ltd. is a leading manufacturer of high-quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. The Company has a competitive portfolio of low cost graphite electrode manufacturing facilities, including three of the highest capacity facilities in the world. We are the only large-scale graphite electrode producer that is substantially vertically integrated into petroleum needle coke, a key raw material for graphite electrode manufacturing. This unique position provides competitive advantages in product quality and cost.
Wendy Watson
216-676-2699
SCHENECTADY, N.Y.--(BUSINESS WIRE)--Distributed Solar Development (DSD) has acquired a two-project, 10 MW community solar portfolio in Lenox, New York.
“This acquisition materially increases DSD’s New York Community Solar portfolio, which the company will continue to expand in 2021,” says Jon Morton, Vice President of Acquisitions at DSD.
Both projects are ground-mounted and were purchased 75% complete from a mid-stage development partner. DSD will oversee project management through the rest of construction, which is being done by High Peaks Solar of Wynantskill, N.Y. The portfolio is projected to be complete by the end of January.
Kevin Bailey, CEO of High Peaks Solar, says, “Our company would like to thank all of the hard-working men and women who saw this project become a success during a difficult year. This project is the largest we have completed to date.”
“High Peaks Solar is an experienced contractor in the PV industry and was the original greenfield developer for this portfolio,” says DSD Senior Project Manager Derrik Fillippo, who has been working with High Peaks on finishing the projects. “When construction is complete, members of the community will benefit from clean, renewable energy and a smaller energy bill.”
Sixty percent of the solar produced will benefit small commercial and residential customers in and around Lenox, while the other 40% will be harnessed by a large anchor offtaker. Both projects are already 100% subscribed, with Blue Wave Solar managing subscriptions.
About Distributed Solar Development
Distributed Solar Development (DSD) is transforming the way organizations harness clean energy. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD creates significant value for our commercial, industrial and municipal customers and partners. Backed by world-leading financial partners like BlackRock Real Assets and rooted in our founding at GE with a 120+ year legacy of innovation, our team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own and maintain. To learn more, visit dsdrenewables.com. Connect with us on LinkedIn and Twitter.
About High Peaks Solar, LLC
High Peaks Solar is a solar construction company; developing and building solar projects since 2008. The company is dedicated to high quality installations that will produce electricity for many decades. Founded on a basis of integrity and hard work, High Peaks Solar has committed its mission to increasing the spread of renewable energy across the globe. For more information, please visit www.highpeakssolar.com or connect with us on Facebook (High Peaks Solar).
Meghan Gainer
Head of Marketing & Communications, Distributed Solar Development
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518-369-3692
Cassie Olszewski
Gregory FCA for Distributed Solar Development
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484-200-0091
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