Climate expert determines goal is aggressive and consistent with global climate science
MADISON, Wis.--(BUSINESS WIRE)--The University of Wisconsin-Madison has evaluated Madison Gas and Electric's (MGE) goal of net-zero carbon electricity by 2050, comparing it to the modeled pathways for the electricity sector in industrialized nations to limit global warming to 1.5 degrees Celsius. Relative to publicly available model results for carbon reductions through 2050, MGE's goal is in line with or more aggressive than these model benchmarks for climate solutions.
Led by Dr. Tracey Holloway in the Nelson Institute for Environmental Studies and the Department of Atmospheric and Oceanic Sciences, the study used climate modeling available through the Intergovernmental Panel on Climate Change (IPCC) in the context of the IPCC's October 2018 Special Report.
"We found that the MGE plan is right in line with the level of reductions needed to limit global warming to 1.5 degrees through this century," Dr. Holloway said. "Of course, actually meeting this goal would require carbon reductions well beyond one utility. If actions similar to MGE's plan were also taken around the world, and in other parts of the economy, research suggests it would be effective at keeping the planet under 1.5 degrees warming."
Independent analysis
To evaluate which combinations of energy and land use policies could support a 1.5 degrees Celsius scenario, research groups around the world have developed computer models to project the global temperature response to different assumptions about energy technology and other factors throughout the next 100 years. The results of these computer models were reported in the IPCC's October 2018 Special Report and shared through an online database, which provides researchers, organizations and the general public with information and options to support planning for a low-carbon future.
"Carbon dioxide in the air absorbs heat that would otherwise be released to space, in that way it acts like a blanket on the planet," Dr. Holloway said. "And, just like you might adjust the blankets at night to avoid getting too hot, we need to adjust CO2 emissions to keep the planet from getting too hot. The question becomes, how aggressively do we need to cut those emissions?"
Dr. Tracey Holloway used energy use scenarios in the database for the analysis of MGE operations and the company's deep decarbonization goal. The models suggested that by 2050, emissions from electricity generation in industrialized countries should be 87% to 99% lower than the 2005 baseline. MGE has announced a plan for net-zero carbon emissions by 2050, which is a 100% reduction from 2005 levels. MGE's plan reflects carbon reductions consistent with limiting global warming to 1.5 degrees Celsius to prevent the most severe impacts of climate change.
"MGE chose to partner with Dr. Holloway because she is an expert in the area of climate science," said Jeff Keebler, MGE Chairman, President and CEO. "We appreciate the time, effort and considerable research put forth by Dr. Holloway."
Consistent with climate science
In May 2019, MGE announced its goal of net-zero carbon electricity by 2050, making it one of the first utilities to commit to net-zero carbon by mid-century.
MGE's net-zero goal is consistent with the latest climate science from the October 2018 IPCC Special Report on limiting global warming to 1.5 degrees Celsius. The company's pathway also is consistent with the IPCC's carbon reduction pathways as identified in the UW analysis.
"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. And, consistent with the science, we fully expect to achieve carbon reductions of 65% by 2030. We've said since introducing our clean energy and carbon reduction goals – if we can go further faster through partnerships with our customers and the evolution of new technologies, we will. Our carbon reduction goal reflects our vision and signals our direction but does not determine our pace," said Keebler.
To achieve deep decarbonization, MGE is growing its use of renewable energy, engaging customers around energy efficiency and working to electrify transportation, all of which are key strategies identified by the IPCC and are discussed in Dr. Holloway's analysis. MGE continues to work with Dr. Holloway on further analysis of deep decarbonization strategies locally.
The UW-Madison report, Interpreting Global Energy Scenarios for Emissions Planning at the Utility Scale, is available at minds.wisconsin.edu and at mge.com.
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.
HOUSTON--(BUSINESS WIRE)--#LNG--NextDecade Corporation (NextDecade) (NASDAQ: NEXT) today announced that it has completed a competitive bid and contracting process and has selected Great Lakes Dredge & Dock Corporation (Great Lakes) (NASDAQ: GLDD) to perform essential improvements to the Brownsville Ship Channel (Channel).
These improvements, which include deepening the Channel, will enhance commercial navigation into and out of the Port of Brownsville, ensuring the safe and reliable access of LNG carriers to NextDecade’s Rio Grande LNG facility and optimizing the ability of shallower draft traffic to pass LNG carriers in either direction in accordance with U.S. Coast Guard guidelines. NextDecade, in coordination with the Port of Brownsville, has completed the permitting process for the project activities within the scope of the Dredge and Disposal Construction Agreement (DDCA) announced today.
The DDCA is consistent with NextDecade’s overall Rio Grande LNG construction budget and timeline and features provisions that enable efficient sequencing and coordination with Rio Grande LNG project development activities pursuant to engineering, procurement, and construction contracts executed with Bechtel Oil, Gas & Chemicals in May 2019.
“We have finalized our contract for channel improvements with Great Lakes Dredge & Dock, the nation’s largest provider of marine dredging services,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “These improvements, to be completed without the use of public funds, will benefit existing Port tenants and pave the way for future development of the Port of Brownsville. As we continue to advance our development activities, we are pleased to demonstrate our continued commitment to the Port, to Cameron County, and to the entire Rio Grande Valley.”
“Great Lakes looks forward to partnering with NextDecade on this important project,” said Lasse Petterson, Great Lakes’ President and Chief Executive Officer. “Great Lakes’ extensive dredging experience, proven track record for successful completion of similar projects, and emphasis on safe work performance uniquely qualifies Great Lakes for this work. We are encouraged by the project’s commitment to the Port of Brownsville and we look forward to supporting this effort during our dredging program. This will be the largest project ever undertaken by Great Lakes and we anticipate adding this project to backlog once a Notice to Proceed is received.”
About NextDecade Corporation
NextDecade Corporation (NextDecade) is a liquefied natural gas (LNG) development company focused on LNG export projects. NextDecade is developing the largest LNG export solution linking Permian Basin and Eagle Ford Shale natural gas to the global LNG market, creating value for producers, customers, and stockholders. Its portfolio of LNG projects includes the 27 mtpa Rio Grande LNG export facility in the Port of Brownsville, Texas. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, visit www.next-decade.com.
About Great Lakes Dredge & Dock Corporation
Great Lakes Dredge & Dock Corporation (Great Lakes) is the largest provider of dredging services in the United States. In addition, Great Lakes has a long history of performing significant international projects. Great Lakes employs experienced civil, ocean and mechanical engineering staff in its estimating, production, and project management functions. In its over 130-year history, Great Lakes has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of over 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through company operations. Great Lakes’ Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the company’s culture. Great Lakes’ commitment to the IIF® culture promotes a work environment where employee safety is paramount.
NextDecade Forward-Looking Information
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design” and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on NextDecade’s current assumptions, expectations, and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include uncertainties about progress in the development of NextDecade’s LNG liquefaction and export projects and the timing of that progress; NextDecade’s final investment decision (“FID”) in the construction and operation of a LNG terminal at the Port of Brownsville in southern Texas (the “Terminal”) and the timing of that decision; the successful completion of the Terminal by third-party contractors and an approximately 137-mile pipeline to supply gas to the Terminal being developed by a third-party; NextDecade’s ability to secure additional debt and equity financing in the future to complete the Terminal; the accuracy of estimated costs for the Terminal; statements that the Terminal, when completed, will have certain characteristics, including amounts of liquefaction capacities; the development risks, operational hazards, regulatory approvals applicable to the Terminal’s and the third-party pipeline's construction and operations activities; NextDecade’s anticipated competitive advantage and technological innovation which may render its anticipated competitive advantage obsolete; the global demand for and price of natural gas (versus the price of imported LNG); the availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG industry, including environmental laws and regulations that impose significant compliance costs and liabilities; the 2019 novel coronavirus pandemic and its impact on NextDecade’s business and operating results, including any disruptions in NextDecade’s operations or development of the Terminal and the health and safety of NextDecade’s employees, and on NextDecade’s customers, the global economy and the demand for LNG; risks related to doing business in and having counterparties in foreign countries; NextDecade’s ability to maintain the listing of its securities on a securities exchange or quotation medium; changes adversely affecting the business in which NextDecade is engaged; management of growth; general economic conditions; NextDecade’s ability to generate cash; compliance with environmental laws and regulations; the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s Annual Report on Form 10-K for the year ended December 31, 2019 and other subsequent reports filed with the Securities and Exchange Commission, all of which are incorporated herein by reference.
Additionally, any development of the Terminal remains contingent upon completing required commercial agreements, acquiring all necessary permits and approval, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.
NextDecade
Patrick Hughes
+1-832-209-8131
Great Lakes
Tina Baginskis
+1-630-574-3024
NORFOLK, Va.--(BUSINESS WIRE)--BAE Systems has received a $76.3 million contract from the U.S. Navy to drydock and perform maintenance and modernization work aboard the guided-missile destroyer USS Stout (DDG 55). The docking selected restricted availability (DSRA) contract for the Norfolk-based destroyer includes options that, if exercised, would bring the cumulative value to $100.5 million.
BAE Systems’ Norfolk shipyard will begin working aboard the 510-foot-long ship in January 2021. Under the awarded DSRA contract, BAE Systems will drydock the ship; perform hull, tank and mechanical work; install upgraded electronic and electrical systems; and make other shipboard improvements.
“Our team of employees, subcontractors and Navy personnel are working hard to sustain the workhorse of the fleet – the Arleigh Burke class destroyer,” said Mark Whitney, deputy general manager of BAE Systems Ship Repair and general manager of Norfolk Ship Repair. “We look forward to applying our vast experience to modernize the USS Stout, so that its crew members can do their jobs in defense of our nation for many years to come.”
The USS Stout is named in honor of U.S. Navy Rear Admiral Herald F. Stout (1903-1987). During World War II, then-Commander Stout commanded a destroyer that was assigned to the Little Beaver squadron under then-Commodore Arleigh Burke. He earned two Navy Cross medals for command of the ship. The Stout became the fifth ship of the Arleigh Burke class of guided-missile destroyers, which now numbers 68 ships.
BAE Systems is a leading provider of ship repair, maintenance, modernization, conversion, and overhaul services for the Navy, other government agencies, and select commercial customers. The company operates four full-service shipyards in California, Florida, Hawaii, and Virginia, and offers a highly skilled, experienced workforce, seven dry-docks/railways, and significant pier space and ship support services. The company’s Norfolk shipyard has approximately 1,250 employees and works with the Navy and several subcontractor companies to accomplish its sustainment work.
For more information, please contact:
Karl Johnson, BAE Systems
Mobile: 757-375-5086
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~Greenlane continuing to demonstrate robust growth with record revenue up 30% and sales order backlog up over 350% over the same period last year~
VANCOUVER, British Columbia--(BUSINESS WIRE)--$GRN #RNG--Greenlane Renewables Inc. (“Greenlane” or the “Company”) (TSXV: GRN), today announced its interim financial results for the third quarter ended September 30, 2020. For further information on these results, please see Greenlane’s Condensed Consolidated Interim Financial Statements and Management Discussion and Analysis. All amounts are in Canadian dollars and in accordance with IFRS.
Third Quarter Highlights Include:
“Our record revenue this quarter was the result of conversion of our rapidly growing sales order backlog into the revenue line through execution of our customer contracts,” said Brad Douville, President and CEO of Greenlane. “From Q1 2020, our quarterly revenues have ramped sequentially on average by 50%. This is consistent with the growth rate of our sales order backlog since Q3 of 2019. Sales order backlog growth precedes revenue growth.”
“Our sales pipeline, which feeds our sales order backlog, currently stands at over $690 million and continues to expand year-over-year, which provides more evidence of a growing global focus on the low-carbon energy transition. We’ve been able to achieve these milestones through the hard work of the Greenlane team and the support of our trusted supply chain partners around the world.”
“We continue to have success converting opportunities into contract wins, as our sales order backlog has grown. Our signed agreement with the SWEN Impact Fund for Transition announced during the quarter puts Greenlane in an enviable and unique position in the European market, and we remain optimistic on a strong finish to 2020 as we started off the fourth quarter with a new repeat-customer system supply contract for a Brightmark RNG project in Florida. Chevron’s joint venture with Brightmark further demonstrates the increasing pull by the oil majors to secure attractive RNG offtake in the market including making the necessary project investments. With visibility to more than 180 project opportunities globally, proposed or proceeding, Greenlane remains well positioned to capture a growing share of the RNG value chain as a leading technology and solutions provider.”
The Company’s revenues are largely derived from a relatively small number of large biogas upgrader orders accounted for on a stage of completion basis over typically a nine to eighteen-month period. Timing of new contract awards varies due to customer-related factors such as finalizing technical specifications and securing project funding, permits and RNG off-take and feedstock agreements. Some projects have built-in pause periods to allow customers to complete concurrent activities such as civil work. As a result, the Company’s revenue varies from month to month and quarter-to-quarter.
The Market Outlook
While uncertainty remains with respect to the COVID-19 pandemic and its ongoing impact on global economies, the energy transition is here to stay and will play a meaningful and growing part in countries’ efforts to stimulate their economies while tackling climate change and moving toward a decarbonized future.
The European Union recently released its Methane Strategy, which recognizes the pivotal role of biogas and biomethane in accelerating the reduction of methane emissions from agriculture in Europe and achieving climate-neutrality by 2050. Capturing the methane from agricultural waste, which it estimates is responsible for over half of methane emissions within the Union, not only will play a fundamental role in decarbonizing Europe but will also provide a boost to struggling rural development through the production of biogas and RNG.
Commercial vehicle fleets continue to announce the switch to RNG as an alternative to diesel fuel. According to NGV America and the Coalition for Renewable Natural Gas, in the United States and Canada there are 110 RNG production facilities in operation, 40 under construction and 58 in development and RNG use as a transportation fuel has grown at a 30% compound annual growth rate over the five year period from 2015 through 2019 to reach 39% of all on-road fuel used in natural gas vehicles.
Global oil and gas supermajors are rapidly moving to adopt decarbonization strategies and increase renewable and low carbon energy sources within their respective portfolios, including RNG. Earlier in 2020, Royal Dutch Shell, BP and Total all announced their respective net zero by 2050 ambitions. In July 2020, Shell entered into an agreement with Denmark’s Nature Energy to buy RNG, described as the largest deal of its kind, to provide a range of lower-carbon energy choices for its customers across Europe. In September 2020, BP provided a deep dive on its net zero by 2050 strategy to the investment community, which highlighted that BP is already one of the largest suppliers of RNG to the US transportation sector through its Mavrix joint venture with Aria Energy and supply agreement with Clean Energy Fuels Corp, and that in June 2020 Mavrix agreed to its first dairy manure development with three farms in the Central Valley of California. According to the European Biogas Association, in September 2020 Total S.A revealed a new global business unit dedicated to biogas and biomethane production. In July 2020, Chevron announced its Adopt-a-Port initiative, partnering with Clean Energy Fuels, that provides truck operators serving the ports of Los Angeles and Long Beach with clean, carbon-negative RNG. In October 2020, Chevron announced the formation of a joint venture with Brightmark LLC to own projects across the United States to produce RNG from dairy farms where Chevron will purchase the RNG from these projects and market the volumes for use in vehicles operating on compressed natural gas.
Conference Call
The public is invited to listen to the conference call in real time by telephone. To access the conference call by telephone, please dial: 1-800-319-4610 (Canada & USA toll-free) or 604-638-5340. Callers should dial in 5-10 minutes prior to the scheduled start time and ask to join the Greenlane Renewables conference call.
Shortly after the conference call, the replay will be archived on the Greenlane Renewables website and replay will be available in streaming audio and a downloadable MP3 file.
NON-IFRS FINANCIAL MEASURES
Management evaluates the Company’s performance using a variety of measures, including “Adjusted EBITDA” and “sales order backlog”. The non-IFRS measures should not be considered as an alternative to or more meaningful than revenue or net loss. These measures do not have a standardized meaning prescribed by IFRS and therefore they may not be comparable to similarly titled measures presented by other publicly traded companies and should not be construed as an alternative to other financial measures determined in accordance with IFRS. The Company believes these non-GAAP financial measures provide useful information to both management and investors in measuring the financial performance and financial condition of the Company. Management uses these and other non-IFRS financial measures to exclude the impact of certain expenses and income that must be recognized under IFRS when analyzing consolidated underlying operating performance, as the excluded items are not necessarily reflective of the Company’s underlying operating performance and make comparisons of underlying financial performance between periods difficult. From time to time, the Company may exclude additional items if it believes doing so would result in a more effective analysis of underlying operating performance. The exclusion of certain items does not imply that they are non-recurring.
*Reconciliation of net loss to Adjusted EBITDA loss
|
Three months ended
|
Three months ended
|
|
Net income (loss) |
743 |
(1,750) |
|
Add back: |
|
|
|
Share based compensation |
152 |
215 |
|
Depreciation and amortization |
383 |
361 |
|
Finance expense |
101 |
198 |
|
Gain on extinguishment of promissory note |
(1,777) |
- |
|
Foreign exchange loss |
199 |
15 |
|
Change in fair value of special warrants |
- |
(249) |
|
Transaction costs |
- |
350 |
|
Adjusted EBITDA loss |
(199) |
(860) |
Note one - Sales order backlog refers to the balance of unrecognized revenue from contracted projects, where such revenue is recognized over time as completion of projects progress.
Note two - Greenlane maintains a sales pipeline of prospective projects that it updates regularly based on quote activity to ensure that it is reflective of sales opportunities that can convert into orders within approximately a rolling 24 month time horizon. Not all of these potential projects will proceed or proceed within the expected timeframe and not all of the projects that do proceed will be awarded to Greenlane. Additions to the amount in the sales pipeline come from situations where the Company provides a quote on a prospective project and reductions to the sales pipeline arise when the Company loses a prospective project to a competitor, a project does not proceed or, where a quote in the pipeline is converted to Greenlane’s sales order backlog.
Note three - The sales order backlog of $43.8 million disclosed for the quarter ended September 30, 2020 includes the $7.7 million Brightmark contract announced in early October.
All filings related to the third quarter ended September 30, 2020 are available on SEDAR at www.sedar.com.
About Greenlane Renewables
Greenlane is cleaning up two of the largest and most difficult-to-decarbonize sectors of the global energy system: the natural gas grid and the transportation sector. As a leading global provider of biogas upgrading systems, Greenlane’s solutions create clean, low-carbon renewable natural gas (RNG), suitable for injection into the natural gas grid and for direct use as vehicle fuel. Our systems, marketed and sold under the Greenlane Biogas™ brand, remove impurities and separate carbon dioxide from biomethane in the raw biogas created from organic waste at landfills, wastewater treatment plants, farms and food waste facilities. With multiple core technologies, more than 110 systems deployed in 18 countries and counting, and 30+ years’ experience, Greenlane finds the right solution, whatever the specific project requirements. Whether we’re working with waste producers, gas utilities, or project developers, we’re doing more with biogas, helping to turn a low-value product into a high-value renewable resource. For further information, please visit www.greenlanerenewables.com.
FORWARD-LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen. The forward-looking information contained in this press release, includes, but is not limited to, Greenlane’s position within the European market, Greenlane’s expected financial performance for 2020, Greenlane’s role in countries’ efforts to stimulate their economies while tackling climate change and moving toward a decarbonized future, Greenlane’s market outlook including capturing methane from agricultural waste playing a fundamental role in decarbonizing Europe and improving rural development through biogas and RNG production, the amount invested in increasing California state RNG supply and the timing of RNG production facilities becoming operational, Greenlane’s position to capture a growing share of the RNG value chain as leading industry provider of biogas upgrading and project development solutions and Greenlane’s order backlog and sales pipeline. The forward-looking information contained herein is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including management's perceptions of future growth, results of operations, operational matters, historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: risks relating to Greenlane’s expected position within the European market, Greenlane’s financial performance of 2020, Greenlane having a role in economies working towards combating climate change, Greenlane’s market outlook, Greenlane’s market share of the RNG value chain, Greenlane as a leading biogas upgrading and project development solutions provider, Greenlane’s order backlog being recognized in revenue and Greenlane’s sales pipeline resulting in orders. Additional risk factors can also be found in the Company's Annual Information Form, which has been filed under the Company's SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
FINANCIAL OUTLOOK INFORMATION – This news release contains “financial outlook information” regarding Greenlane’s prospective revenue and results, which is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above. Revenue and other estimates contained in this news release were made by Greenlane management as of the date of this news release and are provided for the purpose of describing anticipated changes, and are not an estimate of profitability or any other measure of financial performance. Investors are cautioned that the financial outlook information contained in this news release should not be used for purposes other than for which it is disclosed herein. THE COMPANY QUALIFIES ALL THE FORWARD LOOKING STATEMENTS AND FINANCIAL OUTLOOK INFORMATION CONTAINED IN THIS NEWS RELEASE BY THE FOREGOING CAUTIONARY STATEMENTS.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this news release.
Incite Capital Markets
Eric Negraeff / Darren Seed
Greenlane Renewables Inc.
Brad Douville, President & CEO,
Ph: 604.493.2004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Port Security Systems Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Port Security Systems Market is projected to grow at a CAGR of over 4% during the forecast period.
Companies Mentioned
Key Market Trends
Screening and Scanning Systems to Dominate the Market
The reactivation of the global economy has fostered the growth of maritime trade as evident from the 2.7% volume expansion in 2018. Increased trade requires port authorities to be constantly proactive vis-a-vis critical aspects of safety and security within the port premises. Hence, numerous screening and scanning systems for both personnel and cargo are being installed at the ports globally.
For instance, In January 2019, OSI Systems Inc. was awarded a ten-year contract to deliver and integrate Rapiscan Eagle P60 high-energy X-ray inspection systems at the Port of Santo Tomas de Castilla, Guatemala. Also, in April 2016, Rapiscan Systems (Rapiscan), a part of OSI Systems, was awarded multiple contracts from both government and commercial entities in Canada for security initiatives at land and sea borders. As per the terms of the contract, Rapiscan would provide the Eagle G60 model for seaport cargo screening and both its 620DV and 628DV systems for cruise ship passenger baggage screening.
Asia-Pacific to Dominate the Market During the Forecast Period
Since 2000, the developing countries have become major exporters of raw materials and have emerged as a major market for imported finished and semi-finished goods. However, the participation in containerized trade has been concentrated in Asia-Pacific, notably in China and neighboring countries. In 2018, Asia-Pacific contributed to around 64% of the global port traffic. Several new ports are being constructed in the region to support the maritime logistics network. For instance, in January 2020, it was announced that a new deep-sea port will form the core of a new economic partnership between China and Myanmar as part of the Belt and Road Initiative (BRI).
The objective of the plan is to rejuvenate the region and connect it to major shipping lanes to promote the import and export of energy and goods, particularly from the Middle-East and Africa. India is also investing significantly in upgrading its port security infrastructure. In 2018, the Indian Ministry of Shipping assigned the responsibility to install 16 container scanners across the major seaports in the country. Five of the thirteen major ports in India, namely the Jawaharlal Nehru Port Trust (JNPT), New Mangalore, Kamarajar (Ennore), Vizag, and Kolkata ports were scheduled to receive such scanning systems during the first phase beginning Q4 2017. In December 2018, a drive-through scanner, with a capacity to scan 100 containers each hour, was installed at the Jawaharlal Nehru Port Trust (JNPT) in Mumbai.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Surveillance Systems
5.1.2 Physical Access Control Systems
5.1.3 Screening and Scanning Systems
5.1.4 Perimeter Intrusion Detection Systems
5.1.5 Real-time Location Systems
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Rest of World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/vdi36a
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--ADS Services, LLC (“ADS” or the “Company”), a Black Bay Energy Capital (“Black Bay”) portfolio company, is pleased to announce the acquisition of the PowerChokes™ business unit ("PowerChokes™") from Expro Americas LLC, a part of the Expro Group (“Expro”).
ADS is the Permian Basin leader for cost-effective, reliable, safe, and fully traceable managed pressure drilling (“MPD”) systems. The acquisition of PowerChokes™ significantly enhances the ADS geographic footprint, technology portfolio, and asset base. ADS can now provide the industry's most economical, autonomous, and compact MPD offering as part of their comprehensive, bundled services. The Company has recently opened the industry’s only dynamic MPD testing and training school, including a high-capacity and high-pressure flow loop. This facility will be open to clients in early 2021 for training of E&P operator staff, rig and wellsite personnel on the systems and procedures used for managed pressure drilling and dynamic well control.
Charlie Orbell, President & CEO of ADS, said, “For over two decades, PowerChokes™ has been the premier provider of well control chokes, pressure relief systems and premium MPD equipment. ADS is thrilled to combine the PowerChokes™ team, manufacturing and sales capabilities, and intellectual property portfolio with ADS’ existing next-generation approach to the managed pressure drilling market. The MPD & pressure control sector needs improved automation and rig control system integration, and this acquisition enables ADS to be the clear market leader.”
The PowerChokes™ business unit consists of pressure control-related product sales and service, along with a rental offering of well control and MPD equipment. PowerChokes™ product sales and services are provided for various domestic, offshore, and international drilling markets, and will soon be introducing new products for the completion and production pressure control markets.
“By combining the ADS platform with PowerChokes’™ unique sales footprint and intellectual property portfolio, Charlie and the team can provide the drilling market with fully integrated, lower-cost, and safer pressure control solutions. The combined ADS and PowerChokes™’ team will deliver the next step-change towards automated well control for the onshore US, offshore, and international markets,” said Tom Ambrose, Partner of Black Bay.
In addition to acquiring the PowerChokes™ business unit, ADS and Expro are establishing an international partnership agreement to provide value-added MPD services in several regions around the world. Keith Palmer, Expro’s Product Line Executive Vice President, said, “Since Expro acquired PowerChokes 14 years ago, it has grown to be a well-established and recognized brand in its own right. This is a positive step forward for both Expro and ADS, and I am excited to collaborate on projects in the future where we can utilize our specific resources and skills both domestically and internationally.”
Fishman Haygood acted as legal counsel to ADS and Black Bay.
About ADS Services
ADS has established a highly skilled team of pressure-control professionals to deliver premium and innovative managed pressure drilling and well control solutions to the oil and gas industry. Based in Midland and Houston, the Company has a presence in the key US shale plays and provides products and services for the offshore and international markets. ADS recently opened the industry’s first managed pressure drilling technical training school, at its Odessa, TX manufacturing facility. The Company partnered with Black Bay Energy Capital in 2017 to expand its product suite and customer base, with particular emphasis on growth in the high-pressure drilling markets in the Permian Basin.
For more information, please visit: www.adsmpd.com
About Black Bay Energy Capital
Black Bay Energy Capital (“Black Bay”) is an energy private equity firm focused on the North American oilfield service sector. Black Bay invests equity capital in businesses managed by talented entrepreneurs that provide a differentiated product or service to the industry. Black Bay's investment strategy and success stem from the more than 75 years its investment professionals have been working day-to-day with great teams and building high-growth oilfield service companies. Black Bay spends every day collaborating with successful, driven oilfield management teams and has the experience to know what it takes to be successful.
For more information, please visit: www.blackbayenergy.com
About Expro Group
Expro is the well flow optimization expert. Combining innovative disruptive technology with high quality data across well testing, subsea well access, well intervention and production services, delivering a service that’s not just state of the art but highly accurate.
For more information, please visit: www.exprogroup.com
ADS Services, LLC
Charlie Orbell
(432) 218-4700
Black Bay Energy Capital, LLC
Tom Ambrose
(504) 227-3020
Expro Group
Hannah Rumbles
(+44) 7740 377 269
DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Packer Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The oil and gas packer market is expected to grow at CAGR of more than 3% in the forecast period of 2020-2025.
Companies Mentioned
Key Market Trends
Retrievable Packer to Witness Significant Growth
A retrievable packer is a type of packer that is run and retrieved on a running string or production string, unlike a permanent production packer that is set in the casing or liner before the production string is run.
North America to Dominate the Market
The United States is one of the largest producers of crude oil and natural gas, accounting for around 18% and 23% of the global production, respectively, in 2019. The production surged in 2019, mainly due to robust drilling in its shale reserves, led by the Permian Basin.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Retrievable
5.1.2 Non-Retrievable
5.2 Location of Deployment
5.2.1 Offshore
5.2.2 Onshore
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Halliburton Company
6.3.2 Weatherford International plc
6.3.3 National Oilwell Varco Inc.
6.3.4 Baker Hughes Company
6.3.5 Dril-Quip, Inc
6.3.6 Wellcare oil tools pvt ltd
6.3.7 Schlumberger Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/b87hu8
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced the net profits interest calculation for November 2020. The net profits interest calculation represents reported oil production for the month of August 2020 and reported natural gas production during July 2020. The calculation includes accrued costs incurred in September 2020.
This month, excluding prior net profits interest shortfalls, income from the distributable net profits interest this month would have been approximately $0.1 million. As a result of the cumulative outstanding net profits shortfall of approximately $2.0 million, however, no distribution will be paid to the Trust’s unitholders of record on November 30, 2020 in December 2020. Distributions to the Trust will resume once the cumulative net profits shortfall, which now totals approximately $1.8 million, is eliminated.
The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations. The amounts in the table have not been adjusted to reflect temporarily delayed sales and shut-in oil volumes discussed below.
|
|
Underlying Sales Volumes |
|
|
Average Price |
|||||||||||||||
|
|
Oil |
|
|
Natural Gas |
|
|
Oil |
|
|
Natural Gas |
|||||||||
|
|
Bbls |
|
|
Bbls/D |
|
|
Mcf |
|
|
Mcf/D |
|
|
(per Bbl) |
|
|
(per Mcf) |
|||
Current Month |
|
43,598 |
|
1,406 |
|
337,966 |
|
10,902 |
|
$ |
39.84 |
|
$ |
1.45 |
||||||
Prior Month |
|
54,070 |
|
1,744 |
|
465,732 |
|
15,524 |
|
$ |
35.70 |
|
$ |
1.23 |
||||||
Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $1.7 million for the current month on realized wellhead prices of $39.84/Bbl, down $0.2 million from the prior month distribution period.
Recorded natural gas cash receipts from the Underlying Properties totaled $0.5 million for the current month, a decrease of $0.1 million from the prior month’s distribution period.
Total accrued operating expenses for the period were $2.0 million, a $0.3 million decrease month-over-month from October 2020 primarily due to the decrease in recorded production. Capital expenditures, which were less than $0.1 million, remained consistent with the prior month.
The remaining cumulative shortfall in net profits for the prior months will be deducted from any net profits in next month’s net profits interest calculation. At this time based on current commodity prices, COERT Holdings 1 LLC (the “Sponsor”) anticipates that the Underlying Properties will continue to generate positive net profits to reduce the cumulative shortfall before returning to monthly distributions again.
About Permianville Royalty Trust
Permianville Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain, predominantly non-operated, oil and gas properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.permianvilleroyaltytrust.com.
Forward-Looking Statements and Cautionary Statements
This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, expected expenses, including capital expenditures, and expectations regarding the ability of the Underlying Properties to continue to generate positive net profits before returning to monthly distributions. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from the Sponsor with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have declined since the beginning of 2020 in response to the economic effects of the COVID-19 pandemic and the dispute over production levels between Russia and the members of the Organization of Petroleum Exporting Countries, including Saudi Arabia, resulting in an oversupply of crude oil and exacerbating the decline in crude oil prices, and could remain low for an extended period of time. Continued low oil and natural gas prices will reduce profits to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. Other important factors that could cause actual results to differ materially include expenses of the Trust, reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. In addition, future monthly capital expenditures may exceed the average levels experienced in 2019 and prior periods. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither the Sponsor nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by the Trust is subject to the risks described in the Trust’s filings with the SEC, including the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 16, 2020, and the Trust’s Quarterly Report on Form 10-Q for the period ended September 30, 2020, filed with the SEC on November 6, 2020. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.
Permianville Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell 1 (512) 236-6555
DUBLIN--(BUSINESS WIRE)--The "Global Solar Cover Glass Market 2020-2024" report has been added to ResearchAndMarkets.com's offering.
The solar cover glass market is poised to grow by $1.04 billion during 2020-2024, progressing at a CAGR of 29% during the forecast period. The report on the solar cover glass market provide a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the rise in solar PV installations, the decline in LCOE of solar power generation, and the cost of solar inverters.
The solar cover glass market analysis includes application segment and geographical landscapes. This study identifies the government regulations supporting solar power generation as one of the prime reasons driving the solar cover glass market growth during the next few years.
The report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
Companies Mentioned
The report on the solar cover glass market covers the following areas:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary.
This market research report provides a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Five Forces Analysis
5. Market Segmentation by Application
6. Customer landscape
7. Geographic Landscape
8. Vendor Landscape
9. Vendor Analysis
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/nyykzs
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) has received a Notice to Proceed for a major(1) Engineering, Procurement, and Construction (EPC) contract by Sempra LNG and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) at their Energía Costa Azul (ECA) liquefied natural gas (LNG) facility in Baja California, Mexico. The project will add a natural gas liquefaction facility with nameplate capacity of 3.25 Mtpa(2) to the existing regasification terminal using a compact and high efficiency mid-scale LNG design.
This addition will allow for natural gas liquefaction and LNG export capability at the ECA LNG facility, which has been operating as a regasification terminal since 2008. ECA LNG is one of Sempra LNG’s strategically located natural gas liquefaction infrastructure projects currently in development in North America.
TechnipFMC has been involved in this project since 2017, including the delivery of the FEED(3).
Arnaud Pieton, President of Technip Energies, stated: “We are very pleased to have been selected by Sempra LNG and IEnova for this strategic development. This project is fully aligned with our selective approach through very early stage involvement. We look forward to bringing our global project execution capabilities and our extensive LNG track record to this exciting project. LNG plays a major role in the energy transition, and we are proud to leverage our expertise to support this journey.”
(1) |
For TechnipFMC, a “major” contract is over $1.0 billion. |
|
(2) |
Mtpa = Million tons per annum |
|
(3) |
FEED: Front End Engineering Design |
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
About TechnipFMC
TechnipFMC is a global leader in the energy industry; delivering projects, products, technologies and services. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our customers’ project economics.
Organized in three business segments — Subsea, Surface Technologies and Technip Energies — we are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our customers in developing their energy resources and in their positioning to meet the energy transition challenge.
Each of our approximately 37,000 employees is driven by a steady commitment to clients and a culture of project execution, purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.
TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world’s energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
Matt Seinsheimer
Vice President Investor Relations
+1 281 260 3665
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Phillip Lindsay
Director Investor Relations Europe
+44 203 429 3929
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Media relations
Christophe Belorgeot
Senior Vice President Corporate Engagement
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Jason Hyonne
Public Relations Officer
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E&P companies can now benchmark their production operations against industry peers
HOUSTON--(BUSINESS WIRE)--Ambyint, the leader in well lifecycle production optimization, today launched a new service that gives exploration and production (E&P) companies clear visibility into the relative impacts of their well optimization strategies and practices. The service benchmarks companies against the rest of industry providing metrics and operational roadmap recommendations to improve bottom-line results.
“The focus for operators is margin improvement,” says Dr. Victoria Pons, chief executive officer of Pons Energy Analytics. ”With shrinking operations teams and a diaspora of technology and workflow practices, it is difficult to make data-driven decisions on production operations improvements. Ambyint’s well optimization assessment is the type of service that can provide the data and roadmap for targeted production gains.”
Ambyint Well Optimization Assessment™ service is a four- to six-week engagement with E&P operations teams that reviews operational performance focusing on artificial lift optimization, work prioritization, well reliability, workflows, data utilization, reporting, and performance metrics. This data feeds an assessment report containing baseline data analysis supported with interviews, workflow value maps, and a data systems framework to provide customers with essential insights that inform operational and digitalization strategies.
“Increased operational focus on performance while leveraging existing assets, is a significant driver with E&P companies,” says Benjamin Kemp, vice president at Ambyint. “Our extensive and growing market experience has shown significant margin is being left on the table through insufficient analytics, inefficient process workflows, or limited technology adoption. Ambyint’s new assessment service codifies our strong expertise into a framework that operators can use to target that unrealized margin.”
For more information, please join our Well Optimization Strategies for Improved Bottom-Line Performance webinar on December 9, 2020. Attendees can register here.
About Ambyint
Ambyint, a market leader in well lifecycle production optimization for the oil and gas industry, delivers step-change improvements to E&P production outcomes and margins by combining advanced physics and subject matter expertise with artificial intelligence to automate operations and production optimization workflows across all well types and artificial lift systems. www.ambyint.com.
Ginger Shelfer
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BROWNSVILLE, Texas--(BUSINESS WIRE)--For the eighth year in a row, Foreign Trade Zone No. 62 (FTZ) at the Port of Brownsville remains near the top in the nation for the value of exports, according to the U.S. Foreign-Trade Zones (FTZ) Board’s annual report to Congress released on November 13, 2020.
FTZ No. 62 ranks second in the country with more than $4.3 billion in exported goods in 2019, an increase from the $3.8 billion reported in 2018. Celebrating its 40th anniversary this year, the port’s FTZ has consistently ranked in the top three for exports out of 193 FTZs nationwide since 2012. Additionally, FTZ No. 62 ranks number 18 in the nation for the value of imports totaling $4.6 billion, up from $3.69 billion in goods reported in 2018.
“These are the highest numbers we’ve seen in the zone’s history, which highlight the importance of the Port of Brownsville as a statewide and regional economic driver,” said Eduardo A. Campirano, Port Director and CEO. “This year, we’ve made significant investments in infrastructure and FTZ 62’s continuous high ranking only further validates our efforts to increase the port’s role in the global marketplace.”
The 81st Annual Report of U.S. Foreign-Trade Zones Board to the Congress of the United States for 2019 is available at www.trade.gov/ftz. For more information about FTZ No. 62, visit https://www.portofbrownsville.com/about/foreign-trade-zone-no-62/.
About the Port of Brownsville
The Port of Brownsville is the only deepwater seaport directly on the U.S.-Mexico border, and the largest land-owning public port authority in the nation with 40,000 acres of land. It transships more steel into Mexico than any other U.S. port. With more than $40 billion worth of projects currently in the works, the Port of Brownsville is transforming the Rio Grande Valley by creating positive investment opportunities and new good paying jobs.
Jorge I. Montero, Director of Communications
Office: (956) 838-7006
Cell: (956) 525-2067
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DUBLIN--(BUSINESS WIRE)--The "Global Micro-inverter Market with COVID-19 Impact Analysis by Offering, Communication Technology, Type, Power Rating, Connection Type, Sales Channel, Application (Residential, Commercial, PV Power Plant), and Geography - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global micro-inverter market size was valued at USD 2.5 billion in 2020 and is projected to reach USD 6.5 billion by 2025; it is expected to grow at a CAGR of 20.8% from 2020 to 2025.
The growth of the micro-inverter market is driven mainly by increasing demand for micro-inverter solutions in residential applications, growing visibility regarding the inherent benefits offered by them, such as remote monitoring capabilities, upsurge in renewable energy investment, and government initiatives encouraging the adoption of renewable energy.
COVID-19 has emerged as a global pandemic that has spread over 215 countries worldwide and disrupted various industries around the world. The prominent players across industries have been affected by this pandemic. The foreseeable decline in the growth of end-user applications may have a considerable direct impact on the micro-inverter market.
"Indirect sales channel is expected to hold the larger share during the forecast period."
Manufacturers mainly provide micro-inverters to end users through indirect sales channels or third-party providers. Most key players in the market have well-established sales networks and distribute their products worldwide. Micro-inverter systems are mainly adopted in residential and commercial applications. End users may lack the expertise required to integrate micro-inverters into solar panels; thus, installations are mostly done by system integrators or third-party providers appointed by companies. Owing to these factors, the indirect sales channel segment is expected to hold larger market share during the forecast period.
"Residential application is expected to grow at the highest CAGR during the forecast period."
Micro-inverters are mainly adopted for residential applications. Residential solar rooftop PV installations have witnessed significant growth over the last few years. Towering energy costs, coupled with supportive government policies worldwide, have led to the increasing adoption of energy conservation measures for controlling energy expenditure in residential applications.
Countries such as the US, Australia, and the Netherlands, which are among the prominent markets for residential rooftop PV installations, have widely adopted micro-inverters over conventional inverters. In addition, countries such as India, Mexico, the UK, and Brazil are currently witnessing significant growth in the residential solar market. These factors are expected to create a huge demand for micro-inverters.
"APAC is projected to grow at the highest CAGR during the forecast period."
The growth of the micro-inverter market in APAC can be attributed to the surging demand for micro-inverters from major countries, such as Japan, Australia, India, and China, in the region. The market in APAC mainly comprises developing economies such as China and India.
These countries store huge potential for the growth of the micro-inverter market in many application areas. The micro-inverter market in APAC is growing rapidly with the increasing adoption of commercial solar PV systems for industrial, residential, and other applications. The rising demand for micro-inverters for residential applications in India, China, and Japan is among the key factors driving the growth of this market.
Major players in the micro-inverter market include Enphase Energy (US), Altenergy Power System (US), Darfon Electronics (Taiwan), ReneSola (China), AEconversion (Germany), and Chilicon Power (US) among others.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/xj0wcy
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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VALLEY FORGE, Pa.--(BUSINESS WIRE)--UGI Corporation (NYSE: UGI) announced today that it will be hosting its 2020 Virtual Investor Day on December 7, 2020. The event will take place from 1:00 p.m. to 3:00 p.m. EST and feature presentations from UGI’s senior management on the company’s strategic plans, operational and growth strategies, implementation of sustainable energy solutions, and financial outlook.
Those interested in participating are invited to pre-register at https://onlinexperiences.com/Launch/QReg/ShowUUID=00AC912F-4BE5-4A09-AA29-8D657D48B941. A replay of the webcast and the slide presentation will be available after the meeting on UGI’s corporate website at http://www.ugicorp.com under “Investors - Presentations.”
INVESTOR DAY WEBCAST AND DIAL-IN DETAILS
Webcast Link: https://onlinexperiences.com/Launch/QReg/ShowUUID=00AC912F-4BE5-4A09-AA29-8D657D48B941
Toll-Free Attendee Dial-In: (833) 674-0436
International/Toll Attendee Dial-In: (270) 855-8769
Event Plus Passcode: 1393933
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 in twelve states, the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
Investor Relations
Brendan Heck, 610-337-1000 ext. 6608
Alanna Zahora, 610-337-1000 ext. 1004
Shelly Oates, 610-337-1000 ext. 3202
LAREDO, Texas--(BUSINESS WIRE)--Oil and Gas Investor Magazine has named Radcliffe “Cliffe” Killam II, President of Killam Oil, as a 2020 honoree in its Forty Under 40 program. Selected from among hundreds of nominations, Killam was recognized for his entrepreneurial spirit, leadership, and visionary thinking that helped transform his family’s 100-year-old company into the innovative, efficient organization that it is today. Killam’s commitment to supporting future generations in the oil and gas industry is also evident in his decade-long effort to establish a Petroleum Engineering degree plan at Texas A&M International University, which was formally approved in April 2020.
“I am humbled by this recognition and hope that it brings attention to Texas A&M International’s new Petroleum Engineering program,” Killam stated.
Killam Oil is a private, family-owned business started by Oliver Winfield Killam in Laredo in 1919 that has since maintained a sterling reputation in South Texas and throughout the industry. Today, the Killam Family Office focuses on oil and gas exploration, real estate development, investments, and ranching.
Cliffe Killam was born and raised in Laredo, Texas. He obtained an Executive MBA from the McCombs School of Business and a Master’s degree in Energy & Mineral Resources from The University of Texas at Austin, as well as a Bachelor’s degree in English Literature from Boston University.
“I am and honored to be a part of our family legacy and am focused on the future of Killam Oil,” said Killam. “Our achievements both in the industry and in the community make me proud of our organization,” said Killam.
“Over the past decade, I have been focused on building on our strengths and addressing areas in need of improvement. My focus has first been on the culture of the organization, which is based on family first, team work, listening, asking questions, data-driven analysis, and decision making guided by economic scenario analysis and qualitative considerations. Throughout the journey, it has been a team effort, resulting in a strong culture that is results driven. I am deeply honored by this award and look forward to all that we will continue to achieve in this industry in the years to come.”
Oil and Gas Investor Magazine is produced by Hart Energy. For more than 40 years, Hart Energy has delivered market-leading insights to investors and energy industry professionals. The Houston-based company produces award-winning magazines (such as Oil and Gas Investor and E&P); online news and data services; in-depth industry conferences (like the DUG™ series); GIS data sets and mapping solutions; and research and consulting services. For information, visit hartenergy.com.
Lisa Marie Barocas
210-438-2532 or This email address is being protected from spambots. You need JavaScript enabled to view it.
China dominates the market, accounting for 86% of seated e-scooter unit sales in 2020, but this figure is expected to decrease as sales in other countries grow quickly
BOULDER, Colo.--(BUSINESS WIRE)--#ElectricScooters--A new report from Guidehouse Insights examines the global market for seated e-scooters, providing market forecasts for annual seated e-scooter unit sales, revenue, and average transaction prices, through 2030.
The global market for seated e-scooters is expected to experience considerable growth over the coming decade as consumers and governments continue to prioritize the adoption of low carbon, physically distanced, and congestion-reducing technologies. Click to tweet: According to a new report from @WeAreGHInsights, the global market for seated e-scooter unit sales is expected to grow from 5.7 million in 2020 to 10.1 million by 2030, at a compound annual growth rate (CAGR) of 5.9%.
“Advancements in motor and Lithium ion (Li-ion) battery technologies are helping to bolster the market through improved seated e‑scooter range, speed, and power capabilities,” says Ryan Citron, senior research analyst with Guidehouse Insights. “The growth in seated e-scooter sharing programs has also contributed to an expanding global market.”
Although China currently dominates the market, accounting for 86% of seated e-scooter unit sales in 2020, this figure is expected to decrease to 56% by 2030 as sales in other countries grow far more quickly. Most of the new growth in the seated e-scooter market is expected to come from India, Organisation for Economic Cooperation and Development (OECD) Asia Pacific (e.g., Taiwan), the Rest of Asia Pacific (e.g., Vietnam), and Europe.
The report, Market Data: Seated E-Scooters, analyzes the global market for seated e-scooters. The study provides a detailed analysis of the market opportunities, key drivers of growth, and technology trends associated with personal and shared seated e-scooters. Forecasts are provided for annual seated e-scooter unit sales (segmented by region and peak motor power level), revenue, and average transaction prices. Projections for shared seated e-scooter service revenue, number of trips provided, and installed base of vehicles are also included in the analysis. 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, Market Data: Seated E-Scooters, 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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Public-Private partnership on second project to harness renewable energy generation for utility cost savings and sustainability benefits
STOCKTON, Calif. & FRAMINGHAM, Mass.--(BUSINESS WIRE)--#efficiency--During today’s San Joaquin County Board of Supervisor meeting, Ameresco, Inc. (NYSE: AMRC), a leading energy efficiency and renewable energy company, announced that it has completed construction on a 5.3 MW-dc ground-mount solar energy system at San Joaquin County’s Foothill Landfill. This is Ameresco’s second renewable energy project with the County and will help reduce their utility costs through California’s Renewable Energy Self-Generation Bill Credit Transfer (RES-BCT) program.
San Joaquin County partnered with Ameresco to develop, own and operate a ground-mount solar photovoltaic system at the Foothill Landfill in Linden, California. Funded by a power purchase agreement (PPA), Ameresco installed 13,770 solar modules rated at 385W-DC each, as well as 29 solar inverters rated at 125kW-AC each. Under a separate agreement with San Joaquin County, Ameresco constructed a 4.3 MW landfill gas to energy plant at the same landfill in 2014.
“San Joaquin County, and its local communities, have long prioritized the development of renewable energy resources, both for reducing emissions and supplementing existing electricity generation,” said Kathy Miller, Chair of the San Joaquin County Board of Supervisors. “In addition to its environmental impact, the solar energy system will provide further utility cost savings to our region, which will directly benefit residents and local governments’ ability to better serve its constituents.”
The solar energy system will generate approximately 10,473,000 kWh of electricity in year one. This equates to a reduction of 7,405 tons of CO2 emissions or 854 homes’ energy use for one year. In addition to the significant electrical savings, the County will also receive a $500,000 upfront lease payment for the use of the land, infusing revenue into the County from day one.
“As a leader in green energy, San Joaquin County is always looking for ways to provide an improved environment for our residents while at the same time providing cost savings to taxpayers,” said San Joaquin County Supervisor, Chuck Winn. “The County recognized that the Foothill Landfill site in Linden had a large amount of undeveloped land. Thanks to a previous project implemented at the site in partnership with Ameresco, we knew there was a similar opportunity to do something productive with the site. When Ameresco approached us about the potential use of the undeveloped land for solar arrays, it was an opportunity we couldn’t pass up. This is a long-term partnership and the resulting project will provide a great benefit to the County and our residents.”
“Our continued work with San Joaquin County demonstrates that there are always additional ways to make a community more sustainable and energy-secure,” said Bob Georgeoff, Vice President of Ameresco. “We look forward to seeing this project deliver environmental benefits while also generating substantial financial savings for San Joaquin County.”
Construction of the San Joaquin County solar project was recently completed. Ameresco continues to work with multiple parties involved in its development, including Sage Energy Consulting, PG&E, the SJCOG, the Linden Fire Department, California Department of Fish and Wildlife, California State Water Resources Control Board, CEQA and the San Joaquin Valley Air Pollution Control District.
About San Joaquin County, California
As the northernmost county in the Central Valley, San Joaquin bridges northern and central California. With seven incorporated cities and many communities, its geographical position in the heart of the Delta places the County within a dynamic growth corridor ideally situated for residential, recreation, business and industry. The San Joaquin County Department of Public Works is charged with the responsibility to plan, design, construct, operate, and maintain the public roads, bridges, water, wastewater systems, flood control, and solid waste systems in order to preserve the County's infrastructure investments and protect the health and welfare of the 753,000 residents who call it home.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,100 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
The announcement of Ameresco’s completion of a renewable energy asset project is not necessarily indicative of the timing or amount of revenue from the energy asset, of the company’s overall revenue for any particular period or of trends in the company’s overall total assets in development or operation. This project was included in our previously reported assets in development as of September 30, 2020.
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LOS ANGELES--(BUSINESS WIRE)--Romeo Systems, Inc. (“Romeo Power”), a leader in designing and manufacturing lithium-ion battery modules and packs for commercial electric vehicles, has secured another large production contract with a commercial vehicle leader. Romeo Power announced today that it has secured a multi-year production contract with The Lion Electric Co. (“Lion Electric”), a leading OEM in North American electric commercial transportation. The contract is expected to generate $234 million in revenue for Romeo Power over a five-year period beginning in 2021. The contract spans across Lion Electric’s fleet of all-electric class 6-8 commercial urban trucks and all-electric buses.
“Romeo Power is very excited about this partnership with Lion Electric, which represents Romeo Power’s eighth production contract in North America and nearly doubles our contracted revenue to date. Lion has already proven itself as a formidable leader in the electrification of the transportation industry with its growing fleet of commercial electric vehicles on the road today,” commented Lionel Selwood, Jr., Chief Executive Officer of Romeo Power. “This contract demonstrates increasing customer demand for our products, reinforces our ability to turn our pipeline into contracted revenue, and further validates Romeo Power as the industry leader in battery pack and module technology.”
“As a leader in zero-emission heavy duty vehicles, we focus on putting more all-electric buses and other commercial vehicles on roads across North America. We are happy to partner with Romeo Power and use its best-in-class battery technology. We are proud of this association that will help us deploy even more all-electric buses and trucks in the years to come,” commented Marc Bédard, Chief Executive Officer - Founder of Lion Electric.
Through its industry leading technology and energy dense battery packs, Romeo Power enables large-scale sustainable transportation by delivering safer, longer lasting batteries with shorter charge times. The company has a 7 GWh-capable manufacturing facility in Los Angeles, California. Its core product offering is focused on the battery electric vehicle medium duty short haul and heavy duty long haul trucking markets.
About Romeo Power
Romeo Power, 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. (“RMG”) (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. Upon closing of the transaction, the combined company will be named Romeo Power, Inc. and is expected to remain listed on the NYSE and trade under the new ticker symbol “RMO.” For additional information on Romeo Power, please visit https://romeopower.com
About The Lion Electric Co.
Lion Electric is an innovative manufacturer of zero-emission vehicles. The company creates, designs, and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric buses and minibuses for the school, paratransit, and mass transit markets. Lion is a North American leader in electric transportation and designs, builds, and assembles several of its vehicles’ key components, including chassis, truck cabins and bus bodies.
Always actively seeking new and reliable technologies, Lion vehicles have unique features that are specifically adapted to its users and their everyday needs. Lion believes that transitioning to all-electric vehicles will lead to major improvements in our society, environment, and overall quality of life.
Lion Electric, The Bright Move
For additional information, please visit thelionelectric.com.
About RMG Acquisition Corp.
RMG Acquisition Corp 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 (CPN) and Riverside Management Group. For additional information, please visit http://www.rmgacquisition.com/.
Important Information and Where to Find It
This press release relates to a proposed transaction between RMG and Romeo Power. RMG intends to file with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that will include a proxy statement and prospectus of RMG. The proxy statement/prospectus will be mailed to stockholders of RMG as of a record date to be established for voting on the proposed business combination. RMG also will file other relevant documents from time to time regarding the proposed transaction with the SEC. INVESTORS AND SECURITY HOLDERS OF RMG ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED BY RMG FROM TIME TO TIME WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the proxy statement/prospectus and other documents containing important information about RMG and Romeo Power once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by RMG when and if available, can be obtained free of charge on RMG’s website at www.rmginvestments.com or by directing a written request to RMG Acquisition Corp., 50 West Street, Suite 40-C, New York, New York 10006.
Participants in the Solicitation
RMG and Romeo Power and their respective directors and executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies of RMG’s stockholders in connection with the proposed transaction. Investors and security holders may obtain more detailed information regarding the names and interests in the proposed transaction of RMG’s directors and officers in RMG’s filings with the SEC, including RMG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on April 1, 2019. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to RMG’s stockholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus for the proposed business combination when available. Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed business combination will be included in the proxy statement/prospectus that RMG intends to file with the SEC.
No Offer or Solicitation
This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, 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.
Forward Looking Statements
This press release includes “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 RMG’s or 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 complete the transactions contemplated by the proposed business combination; the inability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, the amount of cash available following any redemptions by RMG stockholders; the ability to meet the NYSE’s listing standards following the consummation of the transactions contemplated by the proposed business combination; costs related to the proposed business combination; 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; potential litigation involving RMG or Romeo Power; and general economic and market conditions impacting demand for Romeo Power’s products. Other factors include the possibility that the proposed transaction does not close, including due to the failure to receive required security holder approvals, or the failure of other closing conditions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of RMG’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, the registration statement on Form S-4 and proxy statement/prospectus discussed below and other documents filed by RMG from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the 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 neither RMG nor Romeo Power undertake any 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.
Romeo Power
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2019 report incorporates disclosures under SASB and the AGA reporting template
PORTLAND, Ore.--(BUSINESS WIRE)--NW Natural Holding Company (NYSE: NWN) has released its first Environmental, Social and Governance (ESG) Report illustrating important work the company is focused on, how its values guide decisions, and its progress on safety, carbon reduction, diversity, community engagement and governance goals.
“Our key initiatives include aggressively pursuing renewable supplies for our gas utility customers, diversifying into and growing our water and wastewater utility business, and working to actively advance social justice in our workplace and our wider community,” said David H. Anderson, NW Natural president and CEO. “This work is not easy and there are no shortcuts, but each year we set goals, make strides and move closer to achieving our vision.”
The ESG report, posted online, incorporates disclosures recommended for the industry by the Sustainability Accounting Standards Board (SASB) and the American Gas Association reporting template.
Highlights from the report include the following:
“I hope this ESG report, through both stories and statistics, conveys the commitment and passion we bring to our work every day in service of our communities and customers,” added Anderson. “NW Natural has a 162-year history of being a dedicated energy provider, leading employer and innovative community ally, and we plan to continue this legacy with passion and principle.”
ABOUT NW NATURAL HOLDINGS
Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon, and through its subsidiaries has been doing business for over 160 years in the Pacific Northwest. It owns NW Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), and other business interests and activities.
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through nearly 770,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores.
NW Natural Holdings’ subsidiaries own and operate 35 Bcf of underground gas storage capacity with NW Natural operating 20 Bcf in Oregon.
NW Natural Water provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. NW Natural Water currently serves approximately 66,000 people through about 26,000 connections. Learn more about our water business at nwnaturalwater.com.
Additional information is available at nwnaturalholdings.com.
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Partnership establishes a leadership position in the rubber & plastic sustainability markets
First-ever sustainable carbon black blends are commercially available
Customized blends ready to place into rubber & plastics products with measurable environmental benefits
BOULDER, Colo. & HOUSTON--(BUSINESS WIRE)--Bolder Industries (“Bolder”), a pioneer in converting end-of-life tires into sustainable industrial products, and Continental Carbon Company (“CCC”), a leader in the development and manufacture of furnace-grade carbon blacks for the tire and rubber industry, announced today that they have entered into a co-marketing agreement to commercialize breakthrough, sustainable products for the global rubber and plastics industry.
Following five years of research and development with BolderBlack®, Bolder’s flagship carbon black alternative, and over 300 product validations in rubber and plastics applications. Bolder and CCC have agreed to jointly supply the rubber and plastics industry with the first-ever commercially available sustainable blend of CCC’s carbon black grades with BolderBlack Inside virgin grades, including N550, N650, N660, N762, and N774. BolderBlack is produced from 100% post-consumer or post-industrial tires and rubber scrap and is the world’s most sustainable replacement for traditional carbon black, a key material used globally in rubber tire production.
The partnership establishes a leadership position for Bolder and CCC in the rubber and plastic sustainability markets. Customers can now purchase sustainable, pre-blended fillers customized at various ratios directly from Continental Carbon Company with measurable environmental sustainability benefits.
Bolder Industries released a study that demonstrates a BolderBlack Inside blend of N762 at 20% does not have any physical properties variation beyond the accepted measurement tolerance. A 3% blend of the 27Blb global market would result in a reduction of 3 million tons of greenhouse gas emissions, 9 billion gallons of water saved, 1 billion kWh less electricity used, and 120 million tires diverted from landfills. These studies can be found in the technical library in Bolder’s website: www.bolderindustries.com.
"We have always believed in partnering with the traditional carbon black manufacturers to support the end customer. We can now provide a unique solution to tire companies, industrial rubber goods, and plastics manufacturers at a large scale," said Tony Wibbeler, founder and CEO of Bolder Industries. "We recently announced that Bolder Industries plans to merge with a publicly-traded company, GigCapital2. This merger will provide the capital required to address the global market created by this partnership with CCC."
"We have been impressed by the quality, consistency, and manufacturing prowess of Bolder Industries and strongly believe this is an important step toward a more profitable and sustainable future for the rubber and plastics industry. This strategic partnership allows us to offer soft-grade blends into a marketplace that desperately needs to provide a closed-loop solution,” said CCC President Dennis Hetu.
Bolder and CCC also announced their collective project to create an ASTM-grade sustainable black at Bolder’s Bledsoe Innovation Center to impact rubber and plastics sustainability further and invite collaborators to join in this global opportunity.
On October 27, 2020, GigCapital2, Inc. (NYSE: GIX), a publicly traded special purpose acquisition company, and Bolder announced that they have entered into a non-binding letter of intent (“LOI”) for a business combination. The business combination would result in Bolder becoming a publicly traded company on the New York Stock Exchange.
About Bolder Industries
Bolder Industries makes the world’s most sustainable plastic and rubber products possible. The company is a pioneer in converting end-of-life tires into a desirable carbon black alternative (BolderBlack®), petrochemicals, steel and power with minimal waste. Its mission is to solve a growing tire-waste problem and increasing demand for sustainably sourced materials simultaneously while reducing greenhouse gas emissions, water consumption, and the use of electricity and creating manufacturing jobs. The passion for the mission has created a series of technological developments and patents focused on the waste tire problem and its custom compounding lab to help customers accelerate time to market. www.bolderindustries.com.
About Continental Carbon Company
Continental Carbon Company is a recognized leader in the development and manufacture of furnace-grade carbon blacks for the tire and rubber industry. Headquartered in Houston, Texas, Continental Carbon Company owns and operates production facilities in Alabama, Oklahoma, and Texas and a distribution center in Ohio. Continental Carbon Company’s research and development laboratory in Houston, Texas provides complete solutions from product development, pilot production, to full-scale manufacture of carbons suited to the individual customer’s needs. Continental Carbon Company has carbon black manufacturing facilities located in key areas across the United States, Taiwan, China, and India. Continental Carbon stands ready to deliver quality carbon black products for all of your global needs.
Bolder Industries
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