SAN FRANCISCO--(BUSINESS WIRE)--The PG&E Corporation Foundation (Foundation) today announced the four 2020 recipients of the Better Together Resilient Communities grants, a program funded by the Foundation to support local initiatives to build greater climate resilience in Northern and Central California.
The program awarded $100,000 each to Sustainable Solano, Greenbelt Alliance, the Wiyot Tribe, and The Nature Conservancy. All of the projects are designed to reduce flood risk and support healthy, resilient coastlines and wetlands.
“These grants are founded on the premise that relying on the experience, expertise, and established partnerships of local organizations and tribes is the most effective path for helping highly vulnerable communities to prepare for the reality of climate change,” said Stephanie Isaacson, Executive Director of The PG&E Corporation Foundation. “The urgency of the problem requires ideas that are both innovative and practical, so that they can be shared as widely as possible.”
The Better Together Resilient Communities grant program, established in 2017, will invest $2 million over five years in funding from The PG&E Corporation Foundation. Strategies and solutions resulting from the grants are made publicly available to assist all communities in resilience planning and work, and to encourage local and regional partnerships.
Project Proposals and Goals
The Sustainable Solano project, “Suisun City Community Resilience,” will address flood risks via green infrastructure installations, providing inputs into the development of a broader flood action plan. Goals include:
“Thanks to this funding we can focus on a community that may have otherwise been overlooked and expand our outreach to local governments, multi-level stakeholders and youth to help them understand flood risks in Suisun City, and learn how they can be actively engaged in making their communities a more thriving and resilient place,” said Elena Karoulina, Executive Director of Sustainable Solano.
The Greenbelt Alliance project, “Resilience Rising: Contra Costa County,” will focus on building capacity and increasing coordination across Contra Costa County. Goals include:
“There are seven General Plan updates happening in Contra Costa County, but sea-level rise does not stop at jurisdictional boundaries, making jurisdictional communication even more critical. We need to act now and work together to make our shorelines more resilient. We look forward to working closely with our partners to build capacity and increase resilience in Contra Costa County and beyond,” said Zoe Siegel, Director of Climate Resilience at the Greenbelt Alliance.
The Wiyot Tribe project will serve as a “Phase 1” approach to the Tribe’s Climate Change Adaptation Plan, with an initial focus on understanding flood risks. Goals include:
“This support will allow the Wiyot Tribe to identify important, infrastructural, cultural, and natural resource assets that are vulnerable to sea level rise, flooding, and climate change. The funding will allow the Tribe to begin this important planning project through documenting Tribal traditional ecological knowledge and building partnerships with land managing bodies across its ancestral territory around Humboldt Bay to benefit the resiliency of the greater community,” said Ted Hernandez, Wiyot Tribal Chairman.
The Nature Conservancy project, “Risk Financing for Coastal Resilience,” will focus on reducing flooding in San Mateo County. Goals include:
“The 2020 Better Together Resilient Communities grant will enable The Nature Conservancy and our partners to pursue pioneering work that will improve the flood resilience of both communities and nature in San Mateo County. Financial mechanisms, like insurance, offer great promise for protecting the San Francisco Bay’s people, property, and last remaining tidal wetlands—and we now have the resources to explore how to make this a reality,” said Sarah Heard, Director of Conservation Economics and Finance at The Nature Conservancy.
About the Program
Grant proposals for the Better Together Resilient Communities program were evaluated for the extent to which they demonstrated climate risk, enhanced community capacity, partnerships, replicability, assistance to environmental and social justice communities, and measurable impact. To be eligible, applicants must be a governmental organization, educational institution or 501(c)3 nonprofit organization. All applicants must include a local or tribal government within PG&E's service area as a partner.
Information on the application process for the 2021 Better Together Resilient Communities grant program will be available in the spring of 2021. Please check the Better Together Resilient Communities website for more information on this grant opportunity.
Media inquiries: PG&E Marketing & Communications, 415-973-5930
Parsley Energy, Inc. Issues Notice of Conditional Redemption for its 5.250% Senior Notes due 2025 and its 5.375% Senior Notes due 2025
DALLAS--(BUSINESS WIRE)--Pioneer Natural Resources Company (NYSE: PXD) (“Pioneer”) today announced that, in connection with the proposed Mergers described below, it has commenced cash tender offers to purchase any and all of the outstanding 5.625% Senior Notes due 2027 (the “2027 Notes”) and 4.125% Senior Notes due 2028 (the “2028 Notes” and, together with the 2027 Notes, the “Notes”) of Parsley Energy, LLC, a Delaware limited liability company (“Parsley LLC”), and Parsley Finance Corp., a Delaware corporation (“Parsley Finance” and, together with Parsley LLC, the “Issuers”) from holders of each series of the Notes (the “Offers”) and solicitations of consents from holders of each series of the Notes (the “Consent Solicitations”) to effect certain amendments to the indentures governing each series of the Notes (the “Indentures”). The terms and conditions of the Offers and Consent Solicitations are described in the Offers to Purchase for Cash and Solicitation of Consents to the Related Indentures, dated December 30, 2020 (the “Offers to Purchase”).
The following table summarizes the pricing terms of the Offers and Consent Solicitations:
|
|
|
Payment per $1,000 Principal Amount of Notes |
||
Title of Securities |
CUSIP Number |
Aggregate
|
Tender Offer
|
Early
|
Total
|
5.625% Senior Notes
|
701885AH8/
|
$700,000,000 |
$1,068.75 |
$30.00 |
$1,098.75 |
4.125% Senior Notes
|
701885AJ4/
|
$399,472,000 |
$1,037.50 |
$30.00 |
$1,067.50 |
|
|||
(1) |
Excludes accrued and unpaid interest from the last interest payment date to, but not including, the Settlement Date, which will also be paid on accepted Notes up to but not including the Settlement Date. |
||
(2) |
The applicable Total Consideration includes the applicable Early Tender Premium for related Notes tendered (and not validly withdrawn) at or prior to the Early Tender Date. | ||
Each Offer and Consent Solicitation will expire at 11:59 p.m., New York City time, on January 28, 2021, unless extended or earlier terminated (the “Expiration Date”). The consideration for each $1,000 principal amount of Notes validly tendered and not withdrawn at or prior to 5:00 p.m., New York City time, on January 13, 2021, unless extended (the “Early Tender Date”), and accepted for purchase pursuant to the Offers will be the applicable Total Consideration set forth in the table above, which includes the Early Tender Premium. The consideration for each $1,000 principal amount of each series of Notes validly tendered after the Early Tender Date and at or prior to the Expiration Date and accepted for purchase pursuant to the Offers will be the applicable Tender Offer Consideration set forth in the table above, which consists of the Total Consideration less the Early Tender Premium set forth in the table above. Holders of each series of Notes tendered after the Early Tender Date will not be eligible to receive the related Early Tender Premium. No additional consideration is payable for a consent in the Consent Solicitation but the Tender Offer Consideration for each series of Notes also constitutes consideration for the related consent.
The Offers and the Consent Solicitations are being made in connection with, and are expressly conditioned upon the closing of, the acquisition of the Issuers by Pioneer pursuant to the consummation of the transactions contemplated by the Agreement and Plan of Merger (the “Merger Agreement”), by and among Pioneer and certain of its subsidiaries, Parsley Energy, Inc., a Delaware corporation (“Parsley”), and Parsley LLC, dated as of October 20, 2020 (the “Mergers”). The Mergers are expected to close on or about January 12, 2021, subject to satisfaction of the conditions specified in the Merger Agreement. Following completion of the Mergers, the Issuers will be direct or indirect wholly owned subsidiaries of Pioneer. The Offers and Consent Solicitations are also subject to the condition that Pioneer shall have consummated one or more investment grade public debt financing transactions on terms and conditions acceptable to Pioneer in its sole discretion, that, together with not more than $500 million of available cash and availability under Pioneer’s credit facility, is sufficient to fund (A) the redemption of the 2025 Notes described below and (B) the purchase of all Notes tendered pursuant to the Offers (the “Financing Condition”), as well as other customary conditions specified in the Offers to Purchase. Subject to all conditions to the Offers having been either satisfied or waived by Pioneer, the settlement for all Notes accepted for purchase in the Offers will occur on a date promptly following the Expiration Date, which is expected to be January 29, 2021 (the “Settlement Date”). No tenders will be valid if submitted after the Expiration Date.
Notes tendered and consents delivered may be withdrawn or revoked at any time prior to 5:00 p.m., New York City time, on January 13, 2021 (with respect to each series of Notes, the “Withdrawal Date”). Holders of Notes who tender their Notes and deliver their consents after the Withdrawal Date, but at or prior to the Expiration Date, may not withdraw their tendered Notes and related delivered consents. Holders of Notes who validly tender their Notes will be deemed to have validly delivered the related consents. Holders of Notes may not tender Notes without delivering the related consents.
The consummation of the applicable Offer and applicable Consent Solicitation is not conditioned upon any minimum amount of applicable Notes being tendered. Pioneer reserves the absolute right, subject to applicable law, to: (i) waive any or all conditions to the Offers; (ii) extend, terminate or withdraw the Offers; or (iii) otherwise amend the Offers in any respect. Pioneer intends to use a portion of the net proceeds from one or more offerings of its debt securities, together with borrowings under its revolving credit facility and cash on hand, if necessary, to fund the aggregate consideration for all Notes validly tendered (and not validly withdrawn) pursuant to the Offers and accepted for purchase, and to pay all fees and expenses incurred in connection with the Offers and Consent Solicitations.
BofA Securities, Inc., CIBC World Markets Corp., RBC Capital Markets, LLC and Scotia Capital (USA) Inc. have been retained as dealer managers. D.F. King & Co., Inc. has been retained to serve as both the tender agent and the information agent. Persons with questions regarding the Offers and the Consent Solicitations should contact BofA Securities at (980) 387-3907 (collect), CIBC Capital Markets at (212) 455-6427, RBC Capital Markets at (877) 381-2099 or Scotiabank at (833) 498-1660. Copies of the Offers to Purchase and other related materials may be obtained by contacting D.F. King & Co., Inc. at 1 (866) 406-2283 (US toll-free) or 1 (212) 269-5550 (collect) or email: This email address is being protected from spambots. You need JavaScript enabled to view it..
None of Pioneer or its affiliates, its board of directors, Parsley, the Issuers, the dealer managers, the tender agent and the information agent or the Trustee (as defined below) for the Notes makes any recommendation as to whether holders of the Notes should tender or refrain from tendering the Notes.
Parsley and the Issuers also announced today that the Issuers have delivered notices of conditional redemption of all of the Issuers’ outstanding 5.250% Senior Notes due 2025 (the “5.250% Notes due 2025”) and all of the Issuers’ outstanding 5.375% Senior Notes due 2025 (the “5.375% Notes due 2025” and, together with the 5.250% Notes due 2025, the “2025 Notes”). The redemption date for the 2025 Notes provided in the applicable notice of conditional redemption is January 29, 2021 (the “Redemption Date”). The 5.250% Notes due 2025 will be redeemed at a redemption price of 103.398% of the outstanding aggregate principal amount of the 5.250% Notes due 2025, plus accrued and unpaid interest to the Redemption Date (the “5.250% Notes Redemption Price”), and the 5.375% Notes due 2025 will be redeemed at a redemption price of 102.688% of the outstanding aggregate principal amount of the 5.375% Notes due 2025, plus accrued and unpaid interest to the Redemption Date (together with the 5.250% Notes Redemption Price, the “Redemption Price”). The redemption of the 2025 Notes is conditioned upon, before the Redemption Date, completion of the Mergers and satisfaction or waiver of the Financing Condition. The Issuers will publicly announce and notify the holders of the 2025 Notes and the Trustee (as defined below) if any of the foregoing conditions is not satisfied or waived, whereupon the redemption of the 2025 Notes will be revoked and the 2025 Notes will remain outstanding.
U.S. Bank National Association is the trustee (the “Trustee”) for the 2025 Notes and is serving as the paying agent for the redemptions. Copies of the notice of redemption and additional information relating to the redemption of the Notes may be obtained by contacting the Trustee at U.S. Bank Global Corporate Trust, Attn: Bondholder Services - EP-MN-WS2N, 111 Fillmore Avenue East, St Paul, MN 55107-1402 or 800 934-6802.
Cautionary Statement Regarding Forward-Looking Information
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release specifically include statements regarding the Consent Solicitations, the Offers, the redemptions, the anticipated public debt financing transactions, the anticipated Mergers and the ability to realize anticipated synergies and cost savings, the financial position, business strategy, production and reserve growth and other plans and objectives for our future operations. Forward-looking statements and the business prospects of each of Pioneer and Parsley are subject to a number of risks and uncertainties that may cause each of Pioneer’s and Parsley’s actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, volatility of commodity prices, product supply and demand, the impact of a widespread outbreak of an illness, such as the COVID-19 pandemic, global and U.S. economic activity, government regulation or action, Pioneer’s ability to implement its business plans or complete its development activities as scheduled, access to and cost of capital, the financial strength of counterparties to Pioneer’s credit facility, investment instruments and derivative contracts and purchasers of Pioneer’s oil, natural gas liquids and gas production, and acts of war or terrorism. These and other risks are described in Pioneer’s Registration Statement on Form S-4 related to the Mergers, Annual Report on Form 10-K for the year ended December 31, 2019, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020, and other filings with the Securities and Exchange Commission (the “SEC”). In addition, each of Pioneer and Parsley may be subject to currently unforeseen risks that may have a materially adverse impact on it. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Each of Pioneer and Parsley undertakes no duty to publicly update these statements except as required by law.
Additional Information and Where to Find It
This communication may be deemed to be solicitation material in respect of the Mergers. The Mergers will be submitted to Pioneer’s stockholders and Parsley’s stockholders for their consideration. Pioneer and Parsley have filed a definitive joint proxy statement/prospectus (the “Joint Proxy Statement/Prospectus”) with the SEC in connection with the solicitation of proxies by Pioneer and Parsley in connection with the Mergers. Pioneer has filed a registration statement on Form S-4 (the “Form S-4”) with the SEC, in which the Joint Proxy Statement/Prospectus was included. The Form S-4 was declared effective by the SEC on December 4, 2020. Pioneer and Parsley also intend to file other relevant documents with the SEC regarding the Mergers. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE MERGERS, INVESTORS AND STOCKHOLDERS OF PIONEER AND INVESTORS AND STOCKHOLDERS OF PARSLEY ARE URGED TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE MERGERS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND OTHER RELEVANT MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY DO AND WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGERS.
The Joint Proxy Statement/Prospectus, any amendments or supplements thereto and other relevant materials, and any other documents filed by Pioneer or Parsley with the SEC, may be obtained once such documents are filed with the SEC free of charge at the SEC’s website at www.sec.gov or free of charge from Pioneer at www.pxd.com or by directing a request to Pioneer’s Investor Relations Department at This email address is being protected from spambots. You need JavaScript enabled to view it. or free of charge from Parsley at www.parsleyenergy.com or by directing a request to Parsley’s Investor Relations Department at This email address is being protected from spambots. You need JavaScript enabled to view it..
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or to buy or sell any other securities, or a solicitation of any vote or approval. The Offers and Consent Solicitations are made only through the Offers to Purchase. The Offers and Consent Solicitations are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky and other laws of such jurisdiction. In any jurisdiction in which the Offers and Consent Solicitations are required to be made by a licensed broker or dealer, the Offers and Consent Solicitations will be deemed to be made on behalf of Pioneer by the dealer managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Participants in the Solicitation
Pioneer, Parsley and certain of their respective executive officers, directors, other members of management and employees may, under the rules of the SEC, be deemed to be “participants” in the solicitation of proxies in connection with the Mergers. Information regarding Pioneer’s directors and executive officers is available in its Proxy Statement on Schedule 14A for its 2020 Annual Meeting of Stockholders, filed with the SEC on April 9, 2020 and in its Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 24, 2020. Information regarding Parsley’s directors and executive officers is available in its Proxy Statement on Schedule 14A for its 2020 Annual Meeting of Stockholders, filed with the SEC on April 6, 2020 and in its Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 21, 2020. These documents may be obtained free of charge from the sources indicated above. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is and will be contained in the Form S-4, the Joint Proxy Statement/Prospectus and other relevant materials relating to the Mergers to be filed with the SEC. Stockholders and other investors should read the Joint Proxy Statement/Prospectus carefully before making any voting or investment decisions.
Pioneer Natural Resources Company
Investors
Neal Shah - 972-969-3900
Tom Fitter - 972-969-1821
Michael McNamara - 972-969-3592
Greg Wright – 972-969-1770
Media and Public Affairs
Tadd Owens - 972-969-5760
Parsley Energy, Inc.
Investors
Kyle Rhodes – 512-505-5199
Dan Guill – 512-505-5199
AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 commercial vehicles, applauded the extension of the Alternative Fuels Tax Credit (AFTC) through 2021. Included with the passage of year-end funding and COVID-19 relief, the credit adds to the growing support of natural gas as an affordable and cleaner fuel source powering heavy duty vehicles today. Hyliion’s Hypertruck ERX offers an electrified truck that can achieve net-carbon negative emissions by leveraging renewable natural gas (RNG).
“Our customers have experienced the first-hand benefits of RNG as a cleaner and more effective fuel source,” said Thomas Healy, founder and CEO of Hyliion. “The extension of this credit will encourage fleet adoption, contribute to the growing clean technology sector and support our journey toward a greener future.”
The AFTC extends the $0.50 per gallon fuel credit/payment for the use of natural gas as a transportation fuel. The legislation also includes the Alternative Fuel Vehicle Refueling Property Credit, which extends the 30 percent/$30,000 investment tax credit for alternative vehicle refueling property. Its continuation is important to provide investment certainty for fleets of all sizes working to reduce their environmental footprint and address clean air and climate change sustainability goals.
The AFTC extension combined with recently released data from the California Air Resources Board (CARB) highlighting RNG vehicles reaching negative emission milestones adds to the growing momentum around RNG powered vehicle platforms. This achievement demonstrates RNG’s ability to be cleaner than even zero-emissions solutions such as wind and solar electricity generation.
Hyliion’s Hypertruck ERX powertrain will provide measurable cost savings to fleets while reducing emission levels compared to standard diesel-powered vehicles. Fleets will be able to leverage the AFTC in conjunction with Hyliion’s powertrains to drive even greater reductions in fueling costs. The extension of the AFTC highlights the government’s continued support of clean technology and natural gas as a solution toward reduced emission levels.
To learn more about Hyliion, its products or leadership team, please visit www.hyliion.com.
About Hyliion
Hyliion Holdings Corp.’s (NYSE: HYLN) mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of commercial transportation Class 8 vehicles by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial vehicles, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.
Hyliion Holdings Corp.
Liz Hilton
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(833) 495-4466
DUBLIN--(BUSINESS WIRE)--The "North America Power Rental Systems Market By Application (Continuous Power, Peak Shaving and Standby Power), By End User (Government & Utilities, Construction, Event Management, Oil & Gas, Industrial and Others), By Country, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The North America Power Rental Systems Market is expected to witness market growth of 8.2% CAGR during the forecast period (2020-2026).
The increasing demand for constant power supply coupled with rapid industrialization all across the globe is some of the major factors that are driving the growth of the market. The growing instances of unpredictable power supply produced through small-scale power grids and also there is limited access to the key transmission network has boosted the demand for rental generators in the utility and manufacturing industries.
Moreover, there is an increasing requirement for accessible rental equipment that can be helpful in overcoming the problems that are associated with swells & voltage sags, and power outages. In addition to it, increasing awareness about the benefits of outsourcing power equipment is having a positive impact on the market. Power rental systems allow consumers to acquire equipment as per their requirements in a profitable manner.
Furthermore, the execution of favorable government initiatives in order to expand metro and airport networks, coupled with the manufacturing of hotels and shopping malls, will increase the demand for power rental all across the developed and developing nations. Other factors such as the adoption of natural gas-based power generators and the surge in the deployment of renewables as a substitute for the power source to decrease carbon emissions are likely to drive the market further.
The power rental system finds its application in a range of industries that requires continuous power. Major end-use industries for power rental systems are government, oil & gas, and construction. Similarly, there is a necessity for constant power in events, where these systems find enormous demand. These systems are reliable, cost-effective, and flexible, which additionally strengthens the demand for power rental systems. These Systems are the speedy, reliable, cost-effective, & flexible services used across the globe where the demand for power is high.
The power rental systems are used to deal with the demand for power in numerous industries. Increasing demand for power due to rapid industrialization & urbanization. More recurrent shortage of power & insufficiency in the infrastructure that is related to power generation. Consequently, the Power Rental Systems Market is estimated to grow and has remarkable scope during the foreseeable period.
Market Segmentation:
By Application
By End User
Key companies profiled in the report include
For more information about this report visit https://www.researchandmarkets.com/r/i5flaz
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Parsley Energy, Inc. Issues Notice of Conditional Redemption for its 5.250% Senior Notes due 2025 and its 5.375% Senior Notes due 2025
DALLAS--(BUSINESS WIRE)--Ninth paragraph, third sentence of release should read: The 5.250% Notes due 2025 will be redeemed at a redemption price of 103.938% of the outstanding aggregate principal amount... (instead of The 5.250% Notes due 2025 will be redeemed at a redemption price of 103.398% of the outstanding aggregate principal amount...)
The updated release reads:
PIONEER NATURAL RESOURCES COMPANY ANNOUNCES CONDITIONAL CASH TENDER OFFERS FOR 5.625% SENIOR NOTES DUE 2027 AND 4.125% SENIOR NOTES DUE 2028 OF PARSLEY ENERGY, LLC AND PARSLEY FINANCE CORP. AND SOLICITATIONS OF CONSENTS TO THE RELATED INDENTURES
Parsley Energy, Inc. Issues Notice of Conditional Redemption for its 5.250% Senior Notes due 2025 and its 5.375% Senior Notes due 2025
Pioneer Natural Resources Company (NYSE: PXD) (“Pioneer”) today announced that, in connection with the proposed Mergers described below, it has commenced cash tender offers to purchase any and all of the outstanding 5.625% Senior Notes due 2027 (the “2027 Notes”) and 4.125% Senior Notes due 2028 (the “2028 Notes” and, together with the 2027 Notes, the “Notes”) of Parsley Energy, LLC, a Delaware limited liability company (“Parsley LLC”), and Parsley Finance Corp., a Delaware corporation (“Parsley Finance” and, together with Parsley LLC, the “Issuers”) from holders of each series of the Notes (the “Offers”) and solicitations of consents from holders of each series of the Notes (the “Consent Solicitations”) to effect certain amendments to the indentures governing each series of the Notes (the “Indentures”). The terms and conditions of the Offers and Consent Solicitations are described in the Offers to Purchase for Cash and Solicitation of Consents to the Related Indentures, dated December 30, 2020 (the “Offers to Purchase”).
The following table summarizes the pricing terms of the Offers and Consent Solicitations:
|
|
|
Payment per $1,000 Principal Amount of Notes |
||
Title of Securities |
CUSIP Number |
Aggregate
|
Tender Offer
|
Early
|
Total
|
5.625% Senior Notes
|
701885AH8/
|
$700,000,000 |
$1,068.75 |
$30.00 |
$1,098.75 |
4.125% Senior Notes
|
701885AJ4/
|
$399,472,000 |
$1,037.50 |
$30.00 |
$1,067.50 |
|
|||
(1) |
Excludes accrued and unpaid interest from the last interest payment date to, but not including, the Settlement Date, which will also be paid on accepted Notes up to but not including the Settlement Date. |
||
(2) |
The applicable Total Consideration includes the applicable Early Tender Premium for related Notes tendered (and not validly withdrawn) at or prior to the Early Tender Date. | ||
Each Offer and Consent Solicitation will expire at 11:59 p.m., New York City time, on January 28, 2021, unless extended or earlier terminated (the “Expiration Date”). The consideration for each $1,000 principal amount of Notes validly tendered and not withdrawn at or prior to 5:00 p.m., New York City time, on January 13, 2021, unless extended (the “Early Tender Date”), and accepted for purchase pursuant to the Offers will be the applicable Total Consideration set forth in the table above, which includes the Early Tender Premium. The consideration for each $1,000 principal amount of each series of Notes validly tendered after the Early Tender Date and at or prior to the Expiration Date and accepted for purchase pursuant to the Offers will be the applicable Tender Offer Consideration set forth in the table above, which consists of the Total Consideration less the Early Tender Premium set forth in the table above. Holders of each series of Notes tendered after the Early Tender Date will not be eligible to receive the related Early Tender Premium. No additional consideration is payable for a consent in the Consent Solicitation but the Tender Offer Consideration for each series of Notes also constitutes consideration for the related consent.
The Offers and the Consent Solicitations are being made in connection with, and are expressly conditioned upon the closing of, the acquisition of the Issuers by Pioneer pursuant to the consummation of the transactions contemplated by the Agreement and Plan of Merger (the “Merger Agreement”), by and among Pioneer and certain of its subsidiaries, Parsley Energy, Inc., a Delaware corporation (“Parsley”), and Parsley LLC, dated as of October 20, 2020 (the “Mergers”). The Mergers are expected to close on or about January 12, 2021, subject to satisfaction of the conditions specified in the Merger Agreement. Following completion of the Mergers, the Issuers will be direct or indirect wholly owned subsidiaries of Pioneer. The Offers and Consent Solicitations are also subject to the condition that Pioneer shall have consummated one or more investment grade public debt financing transactions on terms and conditions acceptable to Pioneer in its sole discretion, that, together with not more than $500 million of available cash and availability under Pioneer’s credit facility, is sufficient to fund (A) the redemption of the 2025 Notes described below and (B) the purchase of all Notes tendered pursuant to the Offers (the “Financing Condition”), as well as other customary conditions specified in the Offers to Purchase. Subject to all conditions to the Offers having been either satisfied or waived by Pioneer, the settlement for all Notes accepted for purchase in the Offers will occur on a date promptly following the Expiration Date, which is expected to be January 29, 2021 (the “Settlement Date”). No tenders will be valid if submitted after the Expiration Date.
Notes tendered and consents delivered may be withdrawn or revoked at any time prior to 5:00 p.m., New York City time, on January 13, 2021 (with respect to each series of Notes, the “Withdrawal Date”). Holders of Notes who tender their Notes and deliver their consents after the Withdrawal Date, but at or prior to the Expiration Date, may not withdraw their tendered Notes and related delivered consents. Holders of Notes who validly tender their Notes will be deemed to have validly delivered the related consents. Holders of Notes may not tender Notes without delivering the related consents.
The consummation of the applicable Offer and applicable Consent Solicitation is not conditioned upon any minimum amount of applicable Notes being tendered. Pioneer reserves the absolute right, subject to applicable law, to: (i) waive any or all conditions to the Offers; (ii) extend, terminate or withdraw the Offers; or (iii) otherwise amend the Offers in any respect. Pioneer intends to use a portion of the net proceeds from one or more offerings of its debt securities, together with borrowings under its revolving credit facility and cash on hand, if necessary, to fund the aggregate consideration for all Notes validly tendered (and not validly withdrawn) pursuant to the Offers and accepted for purchase, and to pay all fees and expenses incurred in connection with the Offers and Consent Solicitations.
BofA Securities, Inc., CIBC World Markets Corp., RBC Capital Markets, LLC and Scotia Capital (USA) Inc. have been retained as dealer managers. D.F. King & Co., Inc. has been retained to serve as both the tender agent and the information agent. Persons with questions regarding the Offers and the Consent Solicitations should contact BofA Securities at (980) 387-3907 (collect), CIBC Capital Markets at (212) 455-6427, RBC Capital Markets at (877) 381-2099 or Scotiabank at (833) 498-1660. Copies of the Offers to Purchase and other related materials may be obtained by contacting D.F. King & Co., Inc. at 1 (866) 406-2283 (US toll-free) or 1 (212) 269-5550 (collect) or email: This email address is being protected from spambots. You need JavaScript enabled to view it..
None of Pioneer or its affiliates, its board of directors, Parsley, the Issuers, the dealer managers, the tender agent and the information agent or the Trustee (as defined below) for the Notes makes any recommendation as to whether holders of the Notes should tender or refrain from tendering the Notes.
Parsley and the Issuers also announced today that the Issuers have delivered notices of conditional redemption of all of the Issuers’ outstanding 5.250% Senior Notes due 2025 (the “5.250% Notes due 2025”) and all of the Issuers’ outstanding 5.375% Senior Notes due 2025 (the “5.375% Notes due 2025” and, together with the 5.250% Notes due 2025, the “2025 Notes”). The redemption date for the 2025 Notes provided in the applicable notice of conditional redemption is January 29, 2021 (the “Redemption Date”). The 5.250% Notes due 2025 will be redeemed at a redemption price of 103.938% of the outstanding aggregate principal amount of the 5.250% Notes due 2025, plus accrued and unpaid interest to the Redemption Date (the “5.250% Notes Redemption Price”), and the 5.375% Notes due 2025 will be redeemed at a redemption price of 102.688% of the outstanding aggregate principal amount of the 5.375% Notes due 2025, plus accrued and unpaid interest to the Redemption Date (together with the 5.250% Notes Redemption Price, the “Redemption Price”). The redemption of the 2025 Notes is conditioned upon, before the Redemption Date, completion of the Mergers and satisfaction or waiver of the Financing Condition. The Issuers will publicly announce and notify the holders of the 2025 Notes and the Trustee (as defined below) if any of the foregoing conditions is not satisfied or waived, whereupon the redemption of the 2025 Notes will be revoked and the 2025 Notes will remain outstanding.
U.S. Bank National Association is the trustee (the “Trustee”) for the 2025 Notes and is serving as the paying agent for the redemptions. Copies of the notice of redemption and additional information relating to the redemption of the Notes may be obtained by contacting the Trustee at U.S. Bank Global Corporate Trust, Attn: Bondholder Services - EP-MN-WS2N, 111 Fillmore Avenue East, St Paul, MN 55107-1402 or 800 934-6802.
Cautionary Statement Regarding Forward-Looking Information
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release specifically include statements regarding the Consent Solicitations, the Offers, the redemptions, the anticipated public debt financing transactions, the anticipated Mergers and the ability to realize anticipated synergies and cost savings, the financial position, business strategy, production and reserve growth and other plans and objectives for our future operations. Forward-looking statements and the business prospects of each of Pioneer and Parsley are subject to a number of risks and uncertainties that may cause each of Pioneer’s and Parsley’s actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, volatility of commodity prices, product supply and demand, the impact of a widespread outbreak of an illness, such as the COVID-19 pandemic, global and U.S. economic activity, government regulation or action, Pioneer’s ability to implement its business plans or complete its development activities as scheduled, access to and cost of capital, the financial strength of counterparties to Pioneer’s credit facility, investment instruments and derivative contracts and purchasers of Pioneer’s oil, natural gas liquids and gas production, and acts of war or terrorism. These and other risks are described in Pioneer’s Registration Statement on Form S-4 related to the Mergers, Annual Report on Form 10-K for the year ended December 31, 2019, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020, and other filings with the Securities and Exchange Commission (the “SEC”). In addition, each of Pioneer and Parsley may be subject to currently unforeseen risks that may have a materially adverse impact on it. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Each of Pioneer and Parsley undertakes no duty to publicly update these statements except as required by law.
Additional Information and Where to Find It
This communication may be deemed to be solicitation material in respect of the Mergers. The Mergers will be submitted to Pioneer’s stockholders and Parsley’s stockholders for their consideration. Pioneer and Parsley have filed a definitive joint proxy statement/prospectus (the “Joint Proxy Statement/Prospectus”) with the SEC in connection with the solicitation of proxies by Pioneer and Parsley in connection with the Mergers. Pioneer has filed a registration statement on Form S-4 (the “Form S-4”) with the SEC, in which the Joint Proxy Statement/Prospectus was included. The Form S-4 was declared effective by the SEC on December 4, 2020. Pioneer and Parsley also intend to file other relevant documents with the SEC regarding the Mergers. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE MERGERS, INVESTORS AND STOCKHOLDERS OF PIONEER AND INVESTORS AND STOCKHOLDERS OF PARSLEY ARE URGED TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE MERGERS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND OTHER RELEVANT MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY DO AND WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGERS.
The Joint Proxy Statement/Prospectus, any amendments or supplements thereto and other relevant materials, and any other documents filed by Pioneer or Parsley with the SEC, may be obtained once such documents are filed with the SEC free of charge at the SEC’s website at www.sec.gov or free of charge from Pioneer at www.pxd.com or by directing a request to Pioneer’s Investor Relations Department at This email address is being protected from spambots. You need JavaScript enabled to view it. or free of charge from Parsley at www.parsleyenergy.com or by directing a request to Parsley’s Investor Relations Department at This email address is being protected from spambots. You need JavaScript enabled to view it..
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or to buy or sell any other securities, or a solicitation of any vote or approval. The Offers and Consent Solicitations are made only through the Offers to Purchase. The Offers and Consent Solicitations are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky and other laws of such jurisdiction. In any jurisdiction in which the Offers and Consent Solicitations are required to be made by a licensed broker or dealer, the Offers and Consent Solicitations will be deemed to be made on behalf of Pioneer by the dealer managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Participants in the Solicitation
Pioneer, Parsley and certain of their respective executive officers, directors, other members of management and employees may, under the rules of the SEC, be deemed to be “participants” in the solicitation of proxies in connection with the Mergers. Information regarding Pioneer’s directors and executive officers is available in its Proxy Statement on Schedule 14A for its 2020 Annual Meeting of Stockholders, filed with the SEC on April 9, 2020 and in its Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 24, 2020. Information regarding Parsley’s directors and executive officers is available in its Proxy Statement on Schedule 14A for its 2020 Annual Meeting of Stockholders, filed with the SEC on April 6, 2020 and in its Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 21, 2020. These documents may be obtained free of charge from the sources indicated above. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is and will be contained in the Form S-4, the Joint Proxy Statement/Prospectus and other relevant materials relating to the Mergers to be filed with the SEC. Stockholders and other investors should read the Joint Proxy Statement/Prospectus carefully before making any voting or investment decisions.
Pioneer Natural Resources Company
Investors
Neal Shah - 972-969-3900
Tom Fitter - 972-969-1821
Michael McNamara - 972-969-3592
Greg Wright – 972-969-1770
Media and Public Affairs
Tadd Owens - 972-969-5760
Parsley Energy, Inc.
Investors
Kyle Rhodes – 512-505-5199
Dan Guill – 512-505-5199
HOUSTON--(BUSINESS WIRE)--#BEV--The Texas Natural Gas Vehicle Alliance (TXNGVA) have announced the winner of 2020 Ana Hargrove Outstanding Service Award. This annual award spotlights executives, entrepreneurs, and organizations in Texas on the cutting edge of transportation and energy sustainability.
This year’s Award winner, Dmitri Tisnoi, NGV Global Group, was honored on December 17, 2020, during the TXNGVA member meeting where top Texas transportation and energy power players attended the presentation.
A large number of nominations from a diverse group of large and small organizations around Texas implementing alternative fuels including CNG, LNG, and RNG were submitted for consideration.
“Dmitri’s dedication and support to the industry and TXNGVA, even during COVID19 pandemic made him a perfect choice for this award,” said TXNGVA’s President Susan Shifflett. “His leadership, creativity, and outgoing personality made Dmitri an ideal candidate for this year’s award.”
“I am extremely honored to be the recipient of this recognition, but the true reward is to have the privilege of working with some of the brightest industry experts and implementing technologies that will transform the transportation infrastructure and energy of the future,” said Dmitri Tisnoi. Tisnoi continues, “TXNGVA is a top tier association helping organizations to decrease their carbon emissions and meet their sustainability goals.”
About the Texas Natural Gas Vehicle Alliance
Texas Natural Gas Vehicle Alliance’s mission is to develop and expand gas transportation markets, technology, and refueling stations in the State of Texas using industry initiatives, government programs, energy education, safety awareness, environmental advocacy, and community relations. Members include utilities, public and private fleets, and CNG and LNG industry leaders. The TXNGVA host a bi-monthly member meeting, educational and safety workshops through the State of Texas. For more information, www.texasngvalliance.com or like us on Facebook and LinkedIn @ TexasNGVAlliance
About NGV Global Group
NGV Global Group, Inc. engineers, manufactures, distributes, and supports natural gas-operated medium- and heavy-duty commercial vehicles sold worldwide. The company manufactures natural gas engines, fuel storage and fuel systems for on-road and off-road applications. In addition, NGV Global Group delivers natural gas CNG / LNG and other gases in high-pressure trailers. Most recently NGV Global Group has launched GreenPath Logistics to provide green delivery solutions to business trying to improve corporate sustainability and ESG score. For more info please visit www.ngvglobalgroup.com
Susan Shifflett
979-270-2045
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Ongoing partnerships between MGE, City and school district advance shared energy goals.
MADISON, Wis.--(BUSINESS WIRE)--Madison Gas and Electric (MGE) today filed an application with the Public Service Commission of Wisconsin (PSCW) for approval of an agreement to partner with the City of Madison and the Madison Metropolitan School District (MMSD) on an 8-megawatt (MW) solar array in Madison.
If approved, the electricity generated by this local source of clean energy will increase renewable energy use in City operations by nearly 20%.
"We have partnered with the City of Madison and the school district on a number of projects over the years. This new solar partnership, which provides another source of locally generated clean energy, is another step toward our shared energy goals," said Jeff Keebler, MGE Chairman, President and CEO. "Another 8 megawatts of locally generated, cost-effective, carbon-free energy on our electric grid will help MGE achieve our goal of net-zero carbon electricity for all customers by 2050."
"We are working hard to have 100% of our municipal operations on renewable energy by 2030," said Madison Mayor Satya Rhodes-Conway. "Projects like these are critical to achieving that goal. We are happy for the partnership we've had with MGE and MMSD on this project and look forward to continuing that partnership in the future."
"MMSD is being very intentional about our commitment to renewable energy, with goals to meet 50% of all District operations' energy needs with renewable energy by 2030, 75% by 2035 and 100% by 2040," said MMSD Superintendent Dr. Carlton D. Jenkins. "We cannot do this alone, and we thank the City of Madison and MGE for their partnership, and for the opportunity to come together to work collaboratively in achieving a common goal, to mitigate climate change and ensure a healthier environment for our students and community."
Details of 8-MW solar project
The solar array will consist of about 28,000 solar panels and will cover approximately 53 acres of land north of Dane County's Rodefeld Landfill in southeast Madison. If approved, the project will be developed by NextEra Energy Resources Development, LLC.
The City will take 5 MW of the output and MMSD will take 3 MW of the output under Renewable Energy Rider (RER) agreements with MGE.
The cost of the project is estimated to be approximately $15.3 million. If approved, it is expected the solar array will begin generating electricity by the end of 2021.
Renewable Energy Rider
The City and MMSD have entered into separate RER agreements, subject to regulatory approval, with MGE. An RER enables MGE to partner with a large energy user to tailor a renewable energy solution to meet that customer's energy needs. RER customers are responsible for costs associated with the renewable generation facility and any distribution costs to deliver energy to the customer. The innovative model grows clean energy in our community.
Net-zero carbon goal
MGE is on the path toward deep decarbonization, pursuing globally recognized strategies to achieve an ambitious goal that is consistent with the latest climate science. MGE expects to achieve carbon reductions of 65% by 2030, exceeding its goal of a 40% reduction by 2030. If MGE can go further faster in reducing carbon emissions, it will. To reach its carbon reduction goals, MGE is growing its use of renewable energy, engaging customers around energy efficiency and facilitating the electrification of transportation, all of which are key strategies identified by the United States for achieving deep decarbonization. Visit mge2050.com to learn more.
About MGE
MGE generates and distributes electricity to 155,000 customers in Dane County, Wis., and purchases and distributes natural gas to 163,000 customers in seven south-central and western Wisconsin counties. MGE's parent company is MGE Energy, Inc. The company's roots in the Madison area date back more than 150 years.
Steve Schultz
Corporate Communications Manager
608-252-7219 | This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Wind Turbine Control System Global Market Insights 2020, Analysis and Forecast to 2025, by Manufacturers, Regions, Technology, Application" report has been added to ResearchAndMarkets.com's offering.
This report describes the global market size of Wind Turbine Control System from 2015 to 2019 and its CAGR from 2015 to 2019, and also forecasts its market size to the end of 2025 and its CAGR from 2020 to 2025.
For the geography segment, regional supply, demand, major players, price is presented from 2015 to 2025.
The key countries for each region are also included such as the United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil, etc.
For the competitor segment, the report includes global key players of Wind Turbine Control System as well as some small players.
Companies Covered:
The information for each competitor includes:
Applications Segment:
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Sources
3.2.1 Data Sources
3.2.2 Assumptions
3.3 Research Method
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End-users
Chapter 5 Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Wind Turbine Control System Analysis
6.2.1 Technology Analysis
6.2.2 Cost Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End-users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Trading Analysis
8.1 Export of Wind Turbine Control System by Region
8.2 Import of Wind Turbine Control System by Region
8.3 Balance of Trade
Chapter 9 Historical and Forecast Wind Turbine Control System Market in North America (2015-2025)
9.1 Wind Turbine Control System Market Size
9.2 Wind Turbine Control System Demand by End Use
9.3 Competition by Players/Suppliers
9.4 Type Segmentation and Price
9.5 Key Countries Analysis
9.5.1 US
9.5.2 Canada
9.5.3 Mexico
Chapter 10 Historical and Forecast Wind Turbine Control System Market in South America (2015-2025)
10.1 Wind Turbine Control System Market Size
10.2 Wind Turbine Control System Demand by End Use
10.3 Competition by Players/Suppliers
10.4 Type Segmentation and Price
10.5 Key Countries Analysis
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Chile
10.5.4 Peru
Chapter 11 Historical and Forecast Wind Turbine Control System Market in Asia & Pacific (2015-2025)
11.1 Wind Turbine Control System Market Size
11.2 Wind Turbine Control System Demand by End Use
11.3 Competition by Players/Suppliers
11.4 Type Segmentation and Price
11.5 Key Countries Analysis
11.5.1 China
11.5.2 India
11.5.3 Japan
11.5.4 South Korea
11.5.5 ASEAN
11.5.6 Australia
Chapter 12 Historical and Forecast Wind Turbine Control System Market in Europe (2015-2025)
12.1 Wind Turbine Control System Market Size
12.2 Wind Turbine Control System Demand by End Use
12.3 Competition by Players/Suppliers
12.4 Type Segmentation and Price
12.5 Key Countries Analysis
12.5.1 Germany
12.5.2 France
12.5.3 UK
12.5.4 Italy
12.5.5 Spain
12.5.6 Belgium
12.5.7 Netherlands
12.5.8 Austria
12.5.9 Poland
12.5.10 Russia
Chapter 13 Historical and Forecast Wind Turbine Control System Market in MEA (2015-2025)
13.1 Wind Turbine Control System Market Size
13.2 Wind Turbine Control System Demand by End Use
13.3 Competition by Players/Suppliers
13.4 Type Segmentation and Price
13.5 Key Countries Analysis
13.5.1 Egypt
13.5.2 Israel
13.5.3 South Africa
13.5.4 GCC
13.5.5 Turkey
Chapter 14 Summary for Global Wind Turbine Control System Market (2015-2020)
14.1 Wind Turbine Control System Market Size
14.2 Wind Turbine Control System Demand by End Use
14.3 Competition by Players/Suppliers
14.4 Type Segmentation and Price
Chapter 15 Global Wind Turbine Control System Market Forecast (2020-2025)
15.1 Wind Turbine Control System Market Size Forecast
15.2 Wind Turbine Control System Demand Forecast
15.3 Competition by Players/Suppliers
15.4 Type Segmentation and Price Forecast
Chapter 16 Analysis of Global Key Vendors
For more information about this report visit https://www.researchandmarkets.com/r/6j1cqd
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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TULSA, Okla.--(BUSINESS WIRE)--Devon Energy Corporation (“Devon”) (NYSE: DVN) and WPX Energy, Inc. (“WPX”) (NYSE: WPX) today announced the shareholders of both companies voted in favor of all proposals necessary for the closing of the previously announced all-stock merger of equals between Devon and WPX. The merger is anticipated to close on January 7, 2021.
At the special meeting of Devon shareholders held today, more than 70 percent of the shares of Devon common stock were represented, and more than 99 percent of the votes cast were in favor of the transaction. At the special meeting of WPX shareholders held today, more than 87 percent of the shares of WPX common stock were represented, and more than 99 percent of the votes cast were in favor of the transaction.
“We are pleased with the strong support we received from both companies’ shareholders,” said Dave Hager, Devon’s president and CEO. “This is an important milestone as we move toward uniting our complementary assets to create a leading U.S. energy company, with a focus on accelerating free cash flow growth and the return of capital to shareholders.”
“Today’s overwhelmingly positive support from both Devon and WPX stockholders reflects what an outstanding opportunity this is to maximize our businesses, drive synergies and accomplish our objectives for shareholders,” said Rick Muncrief, WPX’s chairman and CEO.
“Together, we’ll be one of the strongest oil producers in the U.S., differentiated by our unwavering focus on profitable, per-share growth and commitment to deliver top-tier ESG performance. We look forward to joining forces with Devon to deliver sustainable results and unlock the value of this combination for shareholders.”
Devon and WPX will each file the final vote results for their respective special meetings on a Form 8-K with the U.S. Securities and Exchange Commission (the “SEC”).
Under the terms of the merger agreement, WPX shareholders will receive a fixed exchange ratio of 0.5165 shares of Devon common stock for each share of WPX common stock owned.
ABOUT DEVON ENERGY
Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. Based in Oklahoma City and included in the S&P 500, Devon operates in several of the most prolific oil and natural gas plays in the U.S. with an emphasis on achieving strong returns and capital-efficient cash-flow growth. For more information, please visit www.devonenergy.com.
ABOUT WPX ENERGY
WPX is an independent energy producer with core positions in the Permian and Williston basins. WPX’s production is approximately 80 percent oil/liquids and 20 percent natural gas. The company also has an infrastructure portfolio in the Permian Basin. Visit www.wpxenergy.com for more information.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
In connection with the proposed merger (the “Proposed Transaction”) of Devon Energy Corporation (“Devon”) and WPX Energy, Inc. (“WPX”), Devon has filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 to register the shares of Devon’s common stock to be issued in connection with the Proposed Transaction. The registration statement includes a document that serves as a prospectus of Devon and a joint proxy statement of each of Devon and WPX (the “joint proxy statement/prospectus”), and each party will file other documents regarding the Proposed Transaction with the SEC. The registration statement on Form S-4, as amended, was declared effective by the SEC on November 24, 2020, and Devon and WPX mailed the joint proxy statement/prospectus to their respective stockholders on or about November 30, 2020. INVESTORS AND SECURITY HOLDERS OF DEVON AND WPX ARE ADVISED TO READ THE REGISTRATION STATEMENT, THE JOINT PROXY STATEMENT/PROSPECTUS, INCLUDING ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, AND ANY OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY DO AND WILL CONTAIN IMPORTANT INFORMATION ABOUT DEVON, WPX, THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain copies of the registration statement and the joint proxy statement/prospectus and other documents containing important information about Devon and WPX free of charge from the SEC’s website. The documents filed by Devon with the SEC may be obtained free of charge at Devon’s website at www.devonenergy.com or at the SEC’s website at www.sec.gov. These documents may also be obtained free of charge from Devon by requesting them by mail at Devon, Attn: Investor Relations, 333 West Sheridan Ave, Oklahoma City, OK 73102. The documents filed by WPX with the SEC may be obtained free of charge at WPX’s website at www.wpxenergy.com or at the SEC’s website at www.sec.gov. These documents may also be obtained free of charge from WPX by requesting them by mail at WPX, Attn: Investor Relations, P.O. Box 21810, Tulsa, OK 74102.
PARTICIPANTS IN THE SOLICITATION
Devon, WPX and certain of their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from Devon’s and WPX’s stockholders with respect to the Proposed Transaction. Information about Devon’s directors and executive officers is available in Devon’s Annual Report on Form 10-K for the 2019 fiscal year filed with the SEC on February 19, 2020, and its definitive proxy statement for the 2020 annual meeting of shareholders filed with the SEC on April 22, 2020. Information about WPX’s directors and executive officers is available in WPX’s Annual Report on Form 10-K for the 2019 fiscal year filed with the SEC on February 28, 2020 and its definitive proxy statement for the 2020 annual meeting of shareholders filed with the SEC on March 31, 2020. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is contained in the joint proxy statement/prospectus. Stockholders, potential investors and other readers should read the joint proxy statement/prospectus carefully before making any voting or investment decisions.
NO OFFER OR SOLICITATION
This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
FORWARD LOOKING STATEMENTS
This communication includes “forward-looking statements” as defined by the SEC. Such statements include those concerning strategic plans, Devon’s and WPX’s expectations and objectives for future operations, as well as other future events or conditions, and are often identified by use of the words and phrases such as “expects,” “believes,” “will,” “would,” “could,” “continue,” “may,” “aims,” “likely to be,” “intends,” “forecasts,” “projections,” “estimates,” “plans,” “expectations,” “targets,” “opportunities,” “potential,” “anticipates,” “outlook” and other similar terminology. All statements, other than statements of historical facts, included in this communication that address activities, events or developments that Devon or WPX expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Devon’s and WPX’s control. Consequently, actual future results could differ materially from Devon’s and WPX’s expectations due to a number of factors, including, but not limited to: the risk that Devon’s and WPX’s businesses will not be integrated successfully; the risk that the cost savings, synergies and growth from the Proposed Transaction may not be fully realized or may take longer to realize than expected; the diversion of management time on transaction-related issues; the effect of future regulatory or legislative actions on the companies or the industries in which they operate, including the risk of new restrictions with respect to hydraulic fracturing or other development activities on Devon’s or WPX’s federal acreage or their other assets; the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; the risk that Devon or WPX may be unable to obtain governmental and regulatory approvals required for the Proposed Transaction, or that required governmental and regulatory approvals may delay the Proposed Transaction or result in the imposition of conditions that could reduce the anticipated benefits from the Proposed Transaction or cause the parties to abandon the Proposed Transaction; the risk that a condition to closing of the Proposed Transaction may not be satisfied; the length of time necessary to consummate the Proposed Transaction, which may be longer than anticipated for various reasons; potential liability resulting from pending or future litigation; changes in the general economic environment, or social or political conditions, that could affect the businesses; the potential impact of the announcement or consummation of the Proposed Transaction on relationships with customers, suppliers, competitors, management and other employees; the ability to hire and retain key personnel; reliance on and integration of information technology systems; the risks associated with assumptions the parties make in connection with the parties’ critical accounting estimates and legal proceedings; the volatility of oil, gas and natural gas liquids (NGL) prices; uncertainties inherent in estimating oil, gas and NGL reserves; the impact of reduced demand for our products and products made from them due to governmental and societal actions taken in response to the COVID-19 pandemic; the uncertainties, costs and risks involved in Devon’s and WPX’s operations, including as a result of employee misconduct; natural disasters, pandemics, epidemics (including COVID-19 and any escalation or worsening thereof) or other public health conditions; counterparty credit risks; risks relating to Devon’s and WPX’s indebtedness; risks related to Devon’s and WPX’s hedging activities; competition for assets, materials, people and capital; regulatory restrictions, compliance costs and other risks relating to governmental regulation, including with respect to environmental matters; cyberattack risks; Devon’s and WPX’s limited control over third parties who operate some of their respective oil and gas properties; midstream capacity constraints and potential interruptions in production; the extent to which insurance covers any losses Devon or WPX may experience; risks related to investors attempting to effect change; general domestic and international economic and political conditions, including the impact of COVID-19; and changes in tax, environmental and other laws, including court rulings, applicable to Devon’s and WPX’s business.
In addition to the foregoing, the COVID-19 pandemic and its related repercussions have created significant volatility, uncertainty and turmoil in the global economy and Devon’s and WPX’s industry. This turmoil has included an unprecedented supply-and-demand imbalance for oil and other commodities, resulting in a swift and material decline in commodity prices in early 2020. Devon’s and WPX’s future actual results could differ materially from the forward-looking statements in this communication due to the COVID-19 pandemic and related impacts, including, by, among other things: contributing to a sustained or further deterioration in commodity prices; causing takeaway capacity constraints for production, resulting in further production shut-ins and additional downward pressure on impacted regional pricing differentials; limiting Devon’s and WPX’s ability to access sources of capital due to disruptions in financial markets; increasing the risk of a downgrade from credit rating agencies; exacerbating counterparty credit risks and the risk of supply chain interruptions; and increasing the risk of operational disruptions due to social distancing measures and other changes to business practices. Additional information concerning other risk factors is also contained in Devon’s and WPX’s most recently filed Annual Reports on Form 10-K, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other SEC filings.
Many of these risks, uncertainties and assumptions are beyond Devon’s or WPX’s ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Nothing in this communication is intended, or is to be construed, as a profit forecast or to be interpreted to mean that earnings per share of Devon or WPX for the current or any future financial years or those of the combined company will necessarily match or exceed the historical published earnings per share of Devon or WPX, as applicable. Neither Devon nor WPX gives any assurance (1) that either Devon or WPX will achieve their expectations, or (2) concerning any result or the timing thereof, in each case, with respect to the Proposed Transaction or any regulatory action, administrative proceedings, government investigations, litigation, warning letters, consent decree, cost reductions, business strategies, earnings or revenue trends or future financial results.
All subsequent written and oral forward-looking statements concerning Devon, WPX, the Proposed Transaction, the combined company or other matters and attributable to Devon or WPX or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Devon and WPX assume no duty to update or revise their respective forward-looking statements based on new information, future events or otherwise.
WPX MEDIA CONTACT:
Kelly Swan
(539) 573-4944
WPX INVESTOR CONTACT:
David Sullivan
(539) 573-9360
DEVON MEDIA CONTACT:
Lisa Adams
(405) 228-1732
DEVON INVESTOR CONTACTS:
Scott Coody, (405) 552-4735
Chris Carr, (405) 228-2496
DUBLIN--(BUSINESS WIRE)--The "Wood Pellets - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.
According to the report, the Global Wood Pellets market accounted for $8.88 billion in 2019 and is expected to reach $21.21 billion by 2027 growing at a CAGR of 11.5% during the forecast period. Some of the key factors propelling the market growth include growing consciousness regarding the use of renewable energy sources for space heating in residential and commercial heating, rising financial incentives by several federal agencies, numerous favourable government policies, and the low cost of raw materials for making wood pellets. However, the high cost of a wood pellet stove is likely to hamper the market.
Wood pellet is a solid fuel which is manufactured by densifying and crushing waste wood including industrial by products such as old paper, forestry wastes, and forestry residues. It is a renewable, clean-burning and cost-effective option for home heating. Apart from heating and power generation, these pellets are also used for the horse bedding purpose.
By end user, the thermal energy (heat generation) segment witnessed a steady growth in the past decade owing to the rising cost of alternative heating fuels. Wood pellets combined with the right type of heating devices such as pellet boilers and pellet stove inserts can transform more than 90% of the energy contained in the fuel into usable heat. Further, usage of wood pellets for heating purposes also has very less effect on the environment since wood absorbs the same amount of carbon dioxide as emitted during the combustion process.
On the basis of geography, the demand for wood pellets in Asia Pacific is expected to witness a significant growth during the forecast period, due to the favorable government policies in Japan, China, and South Korea regarding power generation and CHP. Demand for renewable energy in the region is on the rise as the governments are seeking alternatives to fossil fuels in order to reduce carbon footprint and to ensure long term energy security. China is expected to be one of the key markets for wood pellets in the coming years. Rapidly growing population, insatiable demand for energy, rising pollution levels are some of the key factors that are expected to augment demand for wood pellets in China in the coming years.
Companies Mentioned
What the Report offers:
Key Topics Covered:
1 Executive Summary
2 Preface
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Product Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Wood Pellets Market, By Feedstock Type
5.1 Introduction
5.2 Agricultural Residue and Waste
5.3 Forest & Wood Waste Resources
5.4 Other Feedstock Types
5.4.1 Food Waste
5.4.2 Virgin Lumber
5.4.3 Energy Crops
6 Global Wood Pellets Market, By Type
7 Global Wood Pellets Market, By Application
7.1 Introduction
7.2 Pellet Boilers
7.3 Pellet Stove Inserts
7.4 Free-standing Pellet Stoves
8 Global Wood Pellets Market, By Grade
8.1 Introduction
8.2 Standard
8.3 Premium
8.4 Utility
9 Global Wood Pellets Market, By End User
10 Global Wood Pellets Market, By Product
11 Global Wood Pellets Market, By Sales Channel
12 Global Wood Pellets Market, By Geography
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia Pacific
12.5 South America
12.6 Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
For more information about this report visit https://www.researchandmarkets.com/r/87kmls
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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VALLEY FORGE, Pa.--(BUSINESS WIRE)--UGI Corporation (NYSE: UGI) announced that it has signed a definitive agreement to acquire Mountaintop Energy Holdings LLC, owner of Mountaineer Gas Company (“Mountaineer”), the largest gas local distribution company in West Virginia for an enterprise value of $540 million, which includes the assumption of approximately $140 million of debt.
Mountaineer serves nearly 215,000 customers across 50 of the state’s 55 counties. The customer base is approximately 90% residential, with the remaining 10% comprised of commercial and industrial customers. Mountaineer is fully regulated, and its system has nearly 6,000 miles of distribution, transmission, and gathering pipelines.
“We are very pleased to announce this important transaction and expand our core utility operations in the mid-Atlantic region,” said John L. Walsh, President and Chief Executive Officer of UGI. “The transaction is immediately accretive to adjusted EPS and provides us with an opportunity to support our customers in West Virginia with a long-term commitment to ensure safe, reliable, affordable, and environmentally responsible natural gas services. Our existing Utilities business has shown the value of this long-term commitment to system enhancement and we expect to make a similar commitment in West Virginia. We see significant investment opportunities to continue, if not accelerate, the replacement of over 1,500 miles of bare steel pipelines and expand the reach of natural gas in West Virginia to both unserved and underserved areas. These investments will improve the safety and reliability of the distribution system and align with our environmental efforts to lower methane and other GHG emissions. We expect Mountaineer’s rate base to grow by a compound annual growth rate of approximately 10% - 12% over the long term.
“Over the past two years, we have indicated our intention to rebalance our business mix by investing more to build out our natural gas businesses. This transaction is an important step in the rebalancing efforts and will support UGI’s long-term annual commitments to grow EPS and dividends by 6% - 10% and 4%, respectively,” Mr. Walsh concluded.
Robert F. Beard, Executive Vice President, Natural Gas of UGI, said, “Mountaineer is a great fit for our natural gas businesses and UGI as a whole. The company brings an exceptional management team with significant experience, a track record of safe operations, and strong regulatory relationships. Like UGI Utilities, Mountaineer’s customers are situated in the prolific Marcellus shale production region and have access to clean, abundant, reliable, and affordable natural gas. We look forward to becoming a part of the West Virginia community and investing in the safety and reliability of the Mountaineer system, while maintaining competitive rates for our customers and building on an already strong history of excellent customer service. With UGI’s over 135 years of experience in the gas utilities business, we are confident that we can execute on investment opportunities while providing best-in-class service to our new customers. This transaction makes sense strategically, operationally, and culturally and we look forward to welcoming the Mountaineer employees and customers to the UGI family of companies.”
Closing Details
The transaction is subject to customary regulatory and other closing conditions, including approval by the Public Service Commission of West Virginia. Federal antitrust clearance is also required pursuant to the U.S. Hart-Scott-Rodino Antitrust Improvements Act. Assuming fulfillment of all conditions, the transaction is expected to close in the second half of calendar year 2021.
Transaction Details
The transaction is expected to be accretive to adjusted EPS in the first full year of combined operations. UGI expects to finance the acquisition through debt and / or equity-linked securities and existing liquidity to optimize accretion while maintaining a strong balance sheet. UGI does not expect to issue common equity to finance the acquisition.
Advisors
Goldman Sachs & Co. LLC is serving as UGI’s financial advisor and Latham & Watkins LLP is serving as legal counsel.
Investment Community Call
UGI will hold a live Internet Audio Webcast of its conference call to discuss the acquisition of Mountaintop Energy Holdings, LLC at 9:00 AM ET on Tuesday, January 5, 2021. Interested parties may listen to the audio webcast both live and in replay on the Internet at https://edge.media-server.com/mmc/p/3tbty4tw or at the company website at http://www.ugicorp.com under “Investors – Presentations.” A telephonic replay will be available from 12:00 PM ET on January 5, 2020 through 12:00 PM ET on January 12, 2020. The replay may be accessed at (855) 859-2056, and internationally at (404) 537-3406, conference ID 5662188.
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas, in twelve states and the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.
FORWARD-LOOKING STATEMENTS
This press release contains statements, estimates and projections that are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended). Management believes that these are reasonable as of today’s date only. Actual results may differ significantly because of risks and uncertainties that are difficult to predict and many of which are beyond management’s control. You should read UGI’s Annual Report on Form 10-K for a more extensive list of factors that could affect results. Among them are adverse weather conditions (including increasingly uncertain weather patterns due to climate change) and the seasonal nature of our business; cost volatility and availability of all energy products, including propane, natural gas, electricity and fuel oil; increased customer conservation measures; the impact of pending and future legal proceedings, liability for uninsured claims and for claims in excess of insurance coverage; domestic and international political, regulatory and economic conditions in the United States and in foreign countries, including the current conflicts in the Middle East and the withdrawal of the United Kingdom from the European Union, and foreign currency exchange rate fluctuations (particularly the euro); the timing of development of Marcellus Shale gas production; the availability, timing and success of our acquisitions, commercial initiatives and investments to grow our business; our ability to successfully integrate acquired businesses and achieve anticipated synergies; the interruption, disruption, failure, malfunction, or breach of our information technology systems, including due to cyber-attack; the inability to complete pending or future energy infrastructure projects; our ability to achieve the operational benefits and cost efficiencies expected from the completion of pending and future transformation initiatives at our business units; uncertainties related to the global pandemics, including the duration and/or impact of the COVID-19 pandemic; and the extent to which we are able to utilize certain tax benefits currently available under the CARES Act and similar tax legislation and whether such benefits will remain available in the future.
NON-SOLICITATION
This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities pursuant to the proposed transaction or otherwise, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Investor Relations
Brendan Heck, 610-337-1000 ext. 6608
Tameka Morris, 610-456-6297
Shelly Oates, 610-337-1000 ext. 3202
SAN FRANCISCO--(BUSINESS WIRE)--CAI International, Inc. (“CAI” or the “Company”) (NYSE: CAI), is pleased to announce the closing of its previously reported agreement to sell all of its remaining railcar fleet to Infinity Transportation for $228.1 million.
Timothy Page, Interim President and Chief Executive Officer of CAI, commented, “The closing of the sale of our remaining railcar fleet completes the commitment we made to divest our non-core assets and will allow us to maximize shareholder returns by focusing all of our resources on our core container leasing business.”
About CAI International, Inc.
CAI is one of the world’s leading transportation finance companies. As of September 30, 2020, CAI operated a worldwide fleet of approximately 1.7 million CEUs of containers. CAI operates through 14 offices located in 12 countries including the United States.
About Infinity Transportation
Infinity Transportation, a subsidiary of Global Atlantic Financial Group, provides net and full-service leases as well as other structured financing solutions that address the logistical and financial needs of its clients in the rail, aviation, and intermodal industries. Infinity Transportation manages a large, diverse portfolio of transportation assets and is led by a veteran management team with a broad range of technical expertise, asset-level knowledge and transaction experience across transportation operations, maintenance and finance.
David Morris, Vice President Finance, Corporate Controller
(415) 788-0100
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LONDON--(BUSINESS WIRE)--#GlobalBallastWaterManagementMarket--Technavio estimates the global ballast water management market to grow by USD 5.29 billion, progressing at a CAGR of about 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is driven by the growing marine logistics business. However, the high cost of ballast water management might challenge growth.
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Ballast Water Management Market: Technology Landscape
Based on technology, the market saw maximum growth in the physical disinfection segment in 2019. The segment is driven by the introduction of technologically advanced UV light-based ballast water management systems by vendors. The market growth in the segment will be significant over the forecast period.
Ballast Water Management Market: Geography Landscape
59% of the market’s growth originated from APAC in 2019. Factors such as the rapid growth in the shipping industry, enforcement of regulations by governments, initiatives for increasing the awareness and feasibility of ballast water management, and the availability of efficient solutions offered by vendors are driving the growth of the market in APAC.
Singapore and China are the key markets for ballast water management in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Major Three Ballast Water Management Market Vendors:
Alfa Laval AB
Alfa Laval AB operates its business through segments such as Energy, Food & Water, Marine, Greenhouse, and Operations & Other. PureBallast 3.1 is the key product offered by the company.
Evoqua Water Technologies LLC
Evoqua Water Technologies LLC operates its business through the Applied Product Technologies segment. The company offers SeaCURE Ballast Water Management System.
Headway Technology Group (Qingdao) Co. Ltd.
Headway Technology Group (Qingdao) Co. Ltd. operates its business through the Unified segment. OceanGuard BWMS is the key product offered by the company.
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Related Reports on Industrials Include:
Global Water and Wastewater Management Market for the Mining Sector – Global water and wastewater management market for the mining sector is segmented by product (water treatment and wastewater treatment) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
Global Water Utility Monitoring System Market – Global water utility monitoring system market is segmented by technology (AMI and AMR), end-user (domestic and industrial), and geography (Europe, APAC, North America, South America, and MEA). Click Here to Get an Exclusive Free Sample Report
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
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Shape strategic responses through the phases of industry recovery
Canadian Solar Inc., Hanwha Group, and LG Electronics Inc. will emerge as major rooftop solar market participants during 2020-2024
LONDON--(BUSINESS WIRE)--#GlobalRooftopSolarMarket--The rooftop solar market is expected to grow by 11.36 Gigawatts during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the rooftop solar market in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through the Response, Recovery, and Renew phases. Download a Free Sample Report on COVID-19
The rooftop solar market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to decrease as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the next normal.
This post-pandemic business planning research will aid clients to:
Download the Post-Pandemic Business Planning Structure. Click here
Key Considerations for Market Forecast:
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Global Solar PV Backsheet Market- The solar PV backsheet market is segmented by product (fluoropolymer and non-fluoropolymer) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
Global Solar Microinverter Market- The solar microinverter market is segmented by end-user (Residential and Non-residential) and geography (North America, Europe, APAC, South America, and MEA). Click Here to Get an Exclusive Free Sample Report
Major Three Rooftop Solar Market Participants:
Canadian Solar Inc.
Canadian Solar Inc. operates the business through various segments such as MSS, and Energy. The company offers solar panels and modules and residential solar power kits.
Hanwha Group
Hanwha Group operates the business through various segments such as Aerospace and mechatronics, Chemicals and materials, Solar energy, Financial services, Construction, and Leisure and lifestyle. The company offers Q cells such as Q PLUS, Q.PEAK, Q.HOME, Q.HOME+, Q.POWER, Q.PRIME, and EPC.
LG Electronics Inc.
LG Electronics Inc. operates the business through various segments such as Home Appliance & Air Solution, Home Entertainment, Mobile Communications, Vehicle Components, Business-to-Business, LG Innotek, and Other segments. The company offers NeON and MonoX type solar panels and residential solar system.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/rooftop-solar-market-industry-analysis
Rooftop Solar Market 2020-2024: Segmentation
Rooftop solar market is segmented as below:
The rooftop solar market is driven by increasing electricity prices. In addition, other factors such as growing focus toward self-consumption are expected to trigger the rooftop solar market toward witnessing a CAGR of over almost 6% during the forecast period.
Get more insights about the global trends impacting the future of rooftop solar market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR46452
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
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DUBLIN--(BUSINESS WIRE)--The "Solar Backsheet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global solar backsheet market grew at a CAGR of around 8% during 2014-2019. Looking forward, the global solar backsheet market to continue its moderate growth during the next five years.
A solar backsheet refers to the outermost layer of a photovoltaic (PV) unit used to protect and shield the internal peripherals of the solar module. Some of the commonly used solar backsheets include non-, single- and double-fluoropolymer backsheets that can be mounted on the roof, ground or floating power plants. These backsheets are usually manufactured using polymers or a combination of polymers and placed at the bottom of the solar panel.
They are highly robust and exhibit high electrical insulation and protective properties against external impacts, dust, chemicals, sand, wind, extreme temperatures, moisture and ultraviolet (UV) radiations. They also offer various favorable mechanical, electrical, optical and chemical properties essential for the overall durability and safety of the photovoltaic modules.
A significant increase in the number of solar panel installations across the globe represents one of the key factors driving the growth of the market. Furthermore, the implementation of favorable government policies promoting various solar energy projects is also stimulating the market growth.
Due to the rising preference for sustainable energy resources and the increasing emphasis on utility-scale projects, there is an escalating demand for solar roof-tops with efficient backsheets across the residential, commercial and industrial sectors. This, in turn, is creating a positive outlook for the market.
Additionally, various product innovations, such as the development of advanced fluoropolymer backsheets, are acting as other growth-inducing factors. These variants offer enhanced hydrolytic stability and resistance to extreme weather conditions.
Other factors, including the increasing development of micro-grid networks to meet the rising off-grid energy demands, along with extensive research and development (R&D) activities, are anticipated to drive the market further.
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 3M Company, Arkema S.A, Astenik Solar Inc., COVEME S.p.A (MH & RE. S.p.A.), Dupont De Nemours Inc., KREMPEL GmbH, Targray Technology International Inc., Toray Industries Inc., Toyo Aluminium KK and ZTT International Limited (Jiangsu Zhongtian Technology Co. Ltd.).
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Solar Backsheet Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Fluoropolymer
6.2 Non-Fluoropolymer
7 Market Breakup by Installation Technique
7.1 Floating Power Plant
7.2 Ground Mounted
7.3 Roof Mounted
8 Market Breakup by Thickness
8.1 Less Than 100mm
8.2 100mm-500mm
8.3 More than 500mm
9 Market Breakup by Application
9.1 Utility
9.2 Industrial
9.3 Commercial
9.4 Residential
9.5 Military
10 Market Breakup by Region
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/ydh7lq
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LOS ANGELES--(BUSINESS WIRE)--Romeo Systems, Inc. (“Romeo Power”), an energy technology leader delivering large-scale electrification solutions for complex commercial applications, announced today that it has completed its business combination (“Business Combination”) with RMG Acquisition Corp. (“RMG”) (NYSE: RMG), a special purpose acquisition company. The Business Combination was approved by RMG stockholders in a special meeting held on December 28, 2020 and consummated on December 29, 2020. Beginning on December 30, 2020, Romeo Power’s shares of common stock will trade on the New York Stock Exchange (“NYSE”) under the ticker symbol “RMO” and its warrants will trade on the NYSE under the ticker symbol “RMO.WT”.
The Business Combination valued Romeo Power at a $900 million pre-money enterprise value and resulted in Romeo Power raising approximately $394 million (prior to expenses) in additional equity funding. Approximately 99.8% of RMG shareholders voting their shares voted in favor of the Business Combination and no RMG shareholders redeemed their RMG shares. The additional funds are expected to support Romeo Power’s continued growth and innovation, infrastructure and R&D investments.
“We are very excited about completing our merger with RMG,” remarked Lionel Selwood, Jr., Chief Executive Officer of Romeo Power. “At this inflection point where regulation is driving electrification across the commercial vehicle industry and adjacent sectors, Romeo Power’s energy technology is ready to meet the demand.”
“Today marks a big milestone for Romeo Power and RMG,” commented Robert Mancini, Chief Executive Officer of RMG. “We spent significant time and evaluated hundreds of companies before selecting Romeo Power for this transaction. Romeo Power’s innovative technology and strong partnerships solidify its position as a market leader, and we look forward to working with them.”
With more than $545 million in contracted revenues across its diverse and growing set of customers, Romeo Power is delivering simplified, electrification solutions for medium- and heavy-duty commercial vehicles. The company designs and produces battery management systems, modules and packs in house at its 113,000 square-foot manufacturing facility in Los Angeles, California.
Furthermore, Romeo Power has the support of key strategic investors, including BorgWarner, a large, tier-one automotive supplier with whom it has a joint venture, and Republic Services and The Heritage Group, both leaders in the environmental, recycling and waste removal industries.
Goldman Sachs & Co. LLC served as exclusive financial advisor, and Paul Hastings LLP served as legal advisor to Romeo Power. Morgan Stanley & Co. LLC served as lead financial advisor, Nomura Greentech Capital Advisors, LLC served as financial advisor, and Latham & Watkins LLP served as legal advisor to RMG. Morgan Stanley & Co. LLC also served as sole placement agent to RMG on the PIPE offering. Davis Polk & Wardwell LLP served as legal advisor to Morgan Stanley & Co. LLC.
For more information, please reference RMG and Romeo Power’s proxy statement/consent solicitation statement/prospectus filed with the Securities and Exchange Commission.
About Romeo Power, Inc.
Romeo Power (NYSE: RMO), founded in 2016 in California by Michael Patterson, is an industry-leading energy technology company focused on designing and manufacturing lithium-ion battery modules and packs for commercial electric vehicles. Through its energy dense battery modules and packs, Romeo Power enables large-scale sustainable transportation by delivering safer, longer lasting batteries with shorter charge times. With greater energy density, Romeo Power is able to create lightweight and efficient solutions that deliver superior performance, and provide improved acceleration, range, safety and durability. Romeo Power’s modules and packs are customizable and scalable, and they are optimized by its proprietary battery management system. The company has approximately 100 employees and more than 60 battery-specific engineers and a 113,000 square foot manufacturing facility in Los Angeles, California with key battery development capabilities performed in-house. On October 5, 2020, Romeo Power and RMG Acquisition Corp. (NYSE: RMG), a special purpose acquisition company, announced a definitive agreement for a business combination that would result in Romeo Power becoming a publicly listed company. The combined company now operates as Romeo Power, Inc. and is listed on the NYSE under the ticker symbol “RMO.” For additional information on Romeo Power, please visit https://romeopower.com
About RMG Acquisition Corp.
RMG Acquisition Corp (NYSE: RMG) is a special purpose acquisition company whose management and board has deep experience in power, renewable energy, environmental services, energy technology and corporate governance. RMG’s team includes top level executives from Goldman Sachs, Carlyle Group, Cogentrix Energy, Deloitte & Touché, Access Industries, Calpine Corporation and Riverside Management Group.
Forward Looking Statements
Certain statements in this press release may constitute “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Romeo Power’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the inability to recognize the anticipated benefits of its business combination with RMG; Romeo Power’s ability to execute on its plans to develop and market new products and the timing of these development programs; Romeo Power’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Romeo Power’s products; the success of other competing technologies that may become available; Romeo Power’s ability to identify and integrate acquisitions; the performance of Romeo Power’s products and customers; potential litigation involving Romeo Power; the potential effects of COVID-19; and general economic and market conditions impacting demand for Romeo Power’s products. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the definitive proxy statement filed by RMG on December 10, 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 those implied by our forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Romeo Power undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Shape strategic responses through the phases of industry recovery
Epsiline, ESCO Technologies Inc., and Vaisala Oyj will emerge as major nacelle-mounted LIDAR systems market for wind industry market participants during 2021-2025
LONDON--(BUSINESS WIRE)--#GlobalNacelleMountedLightDetectionandRangingLIDARSystemsMarketforWindIndustry--The nacelle-mounted LIDAR systems market for wind industry market is expected to grow by USD 15.95 million during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the nacelle-mounted LIDAR systems market in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through Response, Recovery, and Renew phases. Download a Free Sample Report on COVID-19
The nacelle-mounted LIDAR systems market for wind industry market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis and towards the next normal.
This post-pandemic business planning research will aid clients to:
Download the Post-Pandemic Business Planning Structure. Click here
Key Considerations for Market Forecast:
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Related Report on Utilities Industries:
Global Primary Lithium Battery Market- The primary lithium battery market is segmented by application (consumer electronics, industrial, and others), geography (APAC, North America, Europe, South America, and MEA), and key vendors. Click Here to Get an Exclusive Free Sample Report
Global Rooftop Solar Market- The rooftop solar market is segmented by application (non-residential and residential), geography (APAC, Europe, North America, MEA, and South America), and key vendors. Click Here to Get an Exclusive Free Sample Report
Major Three Nacelle-Mounted LIDAR Systems Market For Wind Industry Market Participants:
Epsiline
Epsiline operates the business through the Unified segment. The company offers monitoring and optimization tools providing nacelle-mounted wind LiDAR WIND EAGLE for valuable information that enables multiple types of analysis of wind turbine performance and optimization.
ESCO Technologies Inc.
ESCO Technologies Inc. operates the business through various segments such as Filtration/Fluid Flow, Utility Solutions Group, RF Shielding & Test, and Technical Packaging. The company offers LIDAR systems specializing in wind measurement remote sensing solutions.
Vaisala Oyj
Vaisala Oyj operates the business through various segments such as Weather and Environment, and Industrial Measurements. The company offers a nacelle-mounted LIDAR system used for performance measurement and optimization applications.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/nacelle-mounted-LIDAR-systems-market-for-wind-industry-market-industry-analysis
Nacelle-Mounted LIDAR Systems Market For Wind Industry Market 2021-2025: Segmentation
Nacelle-mounted LIDAR systems market for wind industry market is segmented as below:
The nacelle-mounted LIDAR systems market for the wind industry market is driven by the increase in the hub height. In addition, other factors such as the growing adoption of the LIDAR technology are expected to trigger the nacelle-mounted LIDAR systems market for the wind industry market toward witnessing a CAGR of almost 5% during the forecast period.
Get more insights about the global trends impacting the future of nacelle-mounted LIDAR systems market for wind industry market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR45951
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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PRINCETON, N.J.--(BUSINESS WIRE)--Energy cost savings topped the list for customer needs when considering distributed energy resources (DER) in a recent study by NRG Energy, Inc. (NSYE: NRG) in collaboration with Smart Energy Decisions (SED). The goal of the State of Distributed Energy Resources Study was to better understand DER energy trends with the nation’s largest electric power users.
In the study, nearly 87 percent said cost savings was an important factor when asked what the key driver was for considering DERs. Other significant drivers included environmental and sustainability matters. Achieving renewable energy and sustainability targets were also some of the other top influences for developing long term distributed energy plans. Meeting emission reduction goals increased 17 percent from 2019 to 2020 as a driver of deploying DERs. To meet corporate sustainability goals, customers deploy renewable energy resources in their micro-grid. This leads to freedom to access energy on their terms at a cost-efficient rate and when they need it.
The study interviewed more than 100 large electric power users regarding their energy plans and how DERs fit into their overall strategy.
To read the entire version of the State of Distributed Energy Resources Study click here.
About NRG
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 more than 3.7 million residential, small business, and commercial and industrial 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, and by working towards a sustainable energy future.
About Smart Energy Decisions
Smart Energy Decisions is the leading information and research platform serving large electric power users. We produce news, analysis, research and events designed to help our community make smart energy decisions. We are a catalyst for change in support of the energy transition taking place in electric power markets. Our mission is to help large electric power users improve their profitability and reduce their carbon emissions by adopting best practices in energy efficiency and renewable energy sourcing.
Investors:
Kevin L. Cole, CFA
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DUBLIN--(BUSINESS WIRE)--The "Net-Zero Energy Buildings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global net-zero energy buildings market exhibited strong growth during 2014-2019. Looking forward, the publisher expects the global net-zero energy buildings market to continue its strong growth during the next five years.
Net-zero energy (NZE) buildings refer to the constructions that are optimized to use on-site renewable resources to meet energy requirements. They use passive solar heat gain through photovoltaics (PV) and geothermal energy systems to stabilize temperature variations in the complex throughout the day.
The buildings also include highly efficient heating and cooling equipment, appliances, walls & roofs, windows and doors. They aid in maintaining the desired insulation, natural ventilation and air sealing, thereby minimizing the overall energy consumption and wastage over time. As a result, these buildings are widely used as residential complexes, office spaces, educational facilities and public buildings.
The increasing utilization of renewable resources for power generation across the globe represents one of the key factors driving the growth of the market. Furthermore, the implementation of favorable government policies and initiatives to minimize carbon emissions and promote sustainable development is also driving the market growth.
For instance, the California Public Utilities Commission (CPUC) implemented a long-term efficiency strategy plan to promote the construction of new NZE buildings.
Additionally, various product innovations, such as the development of innovative gas water heaters and other heating, ventilation and air conditioning (HVAC) systems, are acting as other growth-inducing factors. These systems aid in maintaining the indoor air quality and safety and ensuring a non-hazardous environment in low-rise buildings.
Other factors, including extensive research and development (R&D) activities, along with rapid infrastructural development, especially in developing countries, are anticipated to drive the market further.
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Net-Zero Energy Buildings Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Offering
6.1 Equipment
6.1.1 Market Trends
6.1.2 Market Breakup by Type
6.1.2.1 Lighting
6.1.2.2 Walls and Roofs
6.1.2.3 HVAC Systems
6.1.2.4 Others
6.1.3 Market Forecast
6.2 Solutions and Services
6.2.1 Market Trends
6.2.2 Market Breakup by Type
6.2.2.1 Software Solutions
6.2.2.2 Designing Services
6.2.2.3 Consulting Services
6.2.3 Market Forecast
7 Market Breakup by Building Type
7.1 Commercial
7.2 Residential
8 Market Breakup by Region
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/l8xh45
ResearchAndMarkets.com
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3D printing has the potential to revolutionize construction and unlock new markets such as affordable homes
BOULDER, Colo.--(BUSINESS WIRE)--#3DPrinter--A new report from Guidehouse Insights examines the market for 3D printing construction technology, providing forecasts for global market size, segmented by region and building type, through 2029.
3D printing technology for construction has significantly advanced in the past 5 years, with innovation in robotics, material science, and software. After years of R&D, the market is nearing a tipping point as companies are moving beyond pilots and demonstration projects to selling their products, including 3D construction printers, full buildings, and building components. Click to tweet: According to a new report from @WeAreGHInsights, global market revenue for 3D-printed construction of buildings is expected to grow from $6.5 million in 2020 to $264 million in 2029 at a compound annual growth rate (CAGR) of 51%.
“Cost savings, reduced construction time, and sustainability compared with traditional construction are the most significant drivers in the market,” says Sasha Wedekind, research analyst with Guidehouse Insights. “Considering current tight construction margins and labor shortages, 3D printing has the potential to revolutionize construction and unlock new markets to the industry, such as affordable homes.”
Despite significant momentum, widespread adoption of the technology in the coming years is unlikely, according to the report. The first years of commercialization will be critical to overcoming stakeholder skepticism and demonstrating that 3D printing can produce permitted, habitable, and functional homes and buildings. North America is expected to be the largest region for 3D construction revenue, followed by Europe and Asia Pacific. Significant market activity is also expected in the Middle East due to Dubai’s ambitious 3D Printing Strategy and in Latin America and Africa, where multiple 3D printing companies are already expanding their businesses.
The report, 3D Printing for Residential and Commercial Construction, analyzes the market for 3D printing construction technology. This report covers the 3D printing market for residential and commercial construction, including walls, foundations, floors, façades, roofs, and other building envelope elements. This forecast excludes infrastructure (such as bridges) and building finishing elements (such as stairs). The report analyzes market drivers and barriers, assesses the state of 3D printing technology, and provides profiles of market vendors. The global market size forecast is segmented by region and building type. Additionally, the report provides a detailed segmentation for the North American market by building type, construction material type, and product type. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, 3D Printing for Residential and Commercial Construction, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
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