COLUMBUS, Ind.--(BUSINESS WIRE)--Cummins Inc. (NYSE: CMI), a global power leader, today shared how the company plans to grow its fuel cell and hydrogen production business and further solidify the company as a global power leader.
“As the world transitions to a low carbon future, Cummins has the financial strength to invest in hydrogen and battery technologies as well as advanced diesel and natural gas powertrains,” said Chairman and CEO Tom Linebarger.
The company specifically outlined its plans to generate electrolyzer revenues of at least $400 million in 2025. Members of the Cummins leadership team reviewed the company’s existing hydrogen portfolio and strategy and discussed specific market opportunities at a virtual conference held today with the investment community.
“Demand for electrolyzers is growing rapidly with an opportunity to utilize green hydrogen to replace less environmentally friendly grey hydrogen in industrial processes while interest in fuel cells is growing in certain end markets,” said Amy Davis, President, New Power Segment, Cummins Inc. “Cummins is participating in markets where we see early adoption of these technologies, leveraging our technology leadership, customer relationships, application knowledge, and global service and support capabilities. We also continue to invest in new technologies, such as solid oxide fuel cells, that show promise in stationary power applications.”
During the presentations, Cummins’ leaders also shared how green hydrogen and fuel cells will play a critical role in reducing greenhouse gas and air emissions from the industries it serves to meet experts’ recommendations to limit global temperature increases in line with the Paris Agreement. They also shared that they expect adoption of fuel cell technology to take time as technologies continue to develop and costs reduce. They added that infrastructure is a current barrier and will require action and engagement from both private industry and government to increase the pace of adoption of hydrogen fuel cell solutions.
“The production of green hydrogen and the adoption of fuel cell technologies in markets that are served by fossil fuels today will be critical to lowering greenhouse gas emissions globally and also will enable Cummins to achieve carbon neutrality by 2050,” Linebarger added. “We will continue to bring hydrogen fuel cell products to market and we have many products already in the field, including in on-highway trucks, rail, marine and other applications, as well as hundreds of electrolyzers.”
Hydrogen Technologies and Products Overview
Financial Outlook for New Power Segment
In addition to discussing the outlook for the New Power Segment, including electrolyzer revenues of at least $400 million in 2025, Chief Financial Officer Mark Smith underscored how continued strong performance of Cummins’ existing products allows for further investment in new technologies.
“Cummins has the financial strength to keep investing in multiple technologies, including hydrogen production and fuel cells, to further advance our leadership position in this vital area,” Mr. Smith stated.
Webcast information
To watch the full event video and learn more about Cummins’ investments in hydrogen, visit cummins.com/hydrogenday. The live event begins at 10:30 am eastern time.
About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 61,600 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.3 billion on sales of $23.6 billion in 2019. See how Cummins is powering a world that’s always on by accessing news releases and more information at https://www.cummins.com/always-on.
Forward-looking disclosure statement
Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our forecasts, guidance, preliminary results, expectations, hopes, beliefs and intentions on strategies regarding the future. These forward-looking statements include, without limitation, statements relating to our plans and expectations for our revenues and EBITDA. Our actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to: market slowdown due to the impacts from COVID-19 pandemic, other public health crises, epidemics or pandemics; impacts to manufacturing and supply chain abilities from an extended shutdown or disruption of our operations due to the COVID-19 pandemic; supply shortages and supplier financial risk, particularly from any of our single-sourced suppliers, including suppliers that may be impacted by the COVID-19 pandemic; aligning our capacity and production with our demand, including impacts of COVID-19; a major customer experiencing financial distress, particularly related to the COVID-19 pandemic; any adverse results of our internal review into our emissions certification process and compliance with emission standards; increased scrutiny from regulatory agencies, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world; disruptions in global credit and financial markets as the result of the COVID-19 pandemic; adverse impacts from government actions to stabilize credit markets and financial institutions and other industries; product recalls; the development of new technologies that reduce demand for our current products and services; policy changes in international trade; a slowdown in infrastructure development and/or depressed commodity prices; the U.K.'s exit from the European Union (EU); labor relations or work stoppages; reliance on our executive leadership team and other key personnel; lower than expected acceptance of new or existing products or services; changes in the engine outsourcing practices of significant customers; our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions and divestitures and related uncertainties of entering such transactions; exposure to potential security breaches or other disruptions to our information technology systems and data security; challenges or unexpected costs in completing cost reduction actions and restructuring initiatives; failure to realize expected results from our investment in Eaton Cummins Automated Transmission Technologies joint venture; political, economic and other risks from operations in numerous countries; competitor activity; increasing competition, including increased global competition among our customers in emerging markets; foreign currency exchange rate changes; variability in material and commodity costs; the actions of, and income from, joint ventures and other investees that we do not directly control; changes in taxation; global legal and ethical compliance costs and risks; product liability claims; increasingly stringent environmental laws and regulations; the performance of our pension plan assets and volatility of discount rates, particularly those related to the sustained slowdown of the global economy due to the COVID-19 pandemic; future bans or limitations on the use of diesel-powered products; the price and availability of energy; our sales mix of products; protection and validity of our patent and other intellectual property rights; the outcome of pending and future litigation and governmental proceedings; continued availability of financing, financial instruments and financial resources in the amounts, at the times and on the terms required to support our future business; and other risks detailed from time to time in our SEC filings, including particularly in the Risk Factors section of our 2019 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the SEC, which are available at http://www.sec.gov or at http://www.cummins.com in the Investor Relations section of our website.
Jon Mills
Director – External Communications
(317) 658-4540
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DUBLIN--(BUSINESS WIRE)--The "Denmark Oil and Gas Midstream Market - Growth, Trends, and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The market for the Denmark oil and gas midstream market is expected to register a CAGR of more than 3.49% during the forecast period of 2020 - 2025.
Factors such as increasing investment in the sector and increasing consumption of oil are expected to boost the demand for the Danish oil and gas midstream market during the forecast period. However, a reduction in oil and gas production is impeding growth in the market.
Denmark has a large capacity of gas pipelines compared to its oil pipelines. Most of the large pipes connect from the North Sea to deliver oil and gas to the mainland.
The private sector initiative to increase the production of oil and gas in the country is expected to be an opportunity for the players in the market as new production fields would open new avenues of development of oil and gas pipelines.
Due to stagnancy in gas consumption and reducing oil and gas production, the investment in the sector has become the most prominent driver in the market. Consumption of oil is also expected to contribute to the growth of the market studied.
Key Market Trends
Pipeline Sector to Witness Growth
As of 2018, the country's total capacity of the gas pipeline infrastructure is around 188058 barrels of oil equivalent per day. New projects have been proposed that are expected to increase the growth in the sector further.
Increasing Investment in Oil and Gas Midstream Sector to Drive the Market
In 2019, Denmark's Port of Frederikshavn made an agreement with Bladt Industries for the construction of a new oil terminal, which is expected to follow the International Maritime Organization (IMO), 2020 rules. The terminal is expected to operational by late 2020.
Competitive Landscape
The Danish oil and gas midstream market is consolidated. The major companies include Orsted A/S, Engie SA, Total SA, Chevron Corporation, and Royal Dutch Shell PLC.
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 million, until 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 PESTLE ANALYSIS
5 MARKET SEGMENTATION
5.1 Transportation
5.1.1 Overview
5.1.1.1 Existing Infrastructure
5.1.1.2 Projects in Pipeline
5.1.1.3 Upcoming Projects
5.2 Storage
5.3 LNG Terminals
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 Orsted A/S
6.3.2 Engie SA
6.3.3 Total SA
6.3.4 Chevron Corporation
6.3.5 Royal Dutch Shell PLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/3yx2h8
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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WASHINGTON--(BUSINESS WIRE)--Nodal Clear announced today that the Commodity Futures Trading Commission (CFTC) has approved an Amended Order of Registration for Nodal Clear, LLC, removing a previous requirement limiting its activities as a registered derivatives clearing organization (DCO) to clearing contracts executed on or through its affiliated designated contract market (DCM), Nodal Exchange, LLC. The amended order permits Nodal Clear to clear for other DCMs in addition to Nodal Exchange.
Nodal Clear, a limited liability company based in Virginia, was first registered as a DCO on September 24, 2015. In that capacity, it is permitted to clear futures and options on futures.
"Nodal wanted to broaden its authorization so that we are able to clear for DCMs other than Nodal Exchange,” said Paul Cusenza, Chairman and CEO of Nodal Clear. “Over time, Nodal plans to broaden the commodities it serves and in some cases clearing for other DCMs may be appropriate in achieving that mission."
ABOUT NODAL CLEAR, LLC
Nodal Clear is a Derivatives Clearing Organization (DCO) pursuant to the Commodity Exchange Act and is regulated by the U.S. Commodity Futures Trading Commission (CFTC). Nodal Clear is a wholly owned subsidiary of Nodal Exchange and serves as the central counterparty for all transactions on Nodal Exchange. Through the novation process, the clearing house becomes the buyer to every seller and the seller to every buyer, significantly reducing the credit risk exposure of market participants. Nodal Clear’s strong risk management practices create a sound market infrastructure for trading. Nodal Clear employs a tailored portfolio margining methodology that appropriately margins contracts and provides capital efficiencies to market participants.
Nicole Ricard
Managing Director of Marketing
703-962-9816
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nodalexchange.com
DUBLIN--(BUSINESS WIRE)--The "Libya Oil and Gas Midstream Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Libyan oil and gas midstream market is expected to register a CAGR of more than 0.44% during the forecast period of 2020 - 2025.
Factors, such as increasing production of oil and gas, are expected to boost the demand in the Libyan oil and gas midstream market during the forecast period. However, the civil war in the country has severely impacted the growth in the oil and gas midstream sector.
Libya has a pipeline network that is spread all over the country. The capacity of the pipelines is expected to remain stagnant in the forecast period, due to a lack of investment in the sector.
The growth in the oil and gas midstream sector has been severely impeded due to the ongoing civil war in the country. However, in 2019, as most of the country had come under the military coalition, the prospects of the civil war ending in the forecast period have increased. It can become an opportunity for companies in the market.
Increase in oil and gas production is expected to be the driver for the market in the forecast period. The country has a lot of potential in the sector, as it has high quality oil and is nearer to the prosperous European countries, with high oil and gas consumption requirements.
Key Market Trends
Growth of the Pipeline Sector to Remain Stagnant
The pipeline sector is quite developed in the country. Most of the pipelines connect the oil and gas fields to different parts of the country, where oil and gas can be further refined and exported. Most of the exports from the country go toward the countries in Europe.
Increasing Production of Oil and Gas to Drive the Market
The oil production increased in the country, by 8.7%, from 43.8 million metric ton in 2017 to 47.5 million metric ton in 2018. The increase in oil production in the country is expected to provide some growth in the sector.
Competitive Landscape
The Libyan oil and gas midstream market is moderately consolidated. Some of the major companies include National Oil Corporation, ConocoPhillips Corporation, Eni SpA, Total SA, and Suncor Energy Inc.
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 million, 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 PESTLE ANALYSIS
5 MARKET SEGMENTATION
5.1 Transportation
5.1.1 Overview
5.1.1.1 Existing Infrastructure
5.1.1.2 Projects in Pipeline
5.1.1.3 Upcoming Projects
5.2 Storage
5.3 LNG Terminals
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 National Oil Corporation
6.3.2 ConocoPhillips Corporation
6.3.3 Eni SpA
6.3.4 Total SA
6.3.5 Suncor Energy Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/rawflo
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Photoelectric Sensor Market with COVID-19 Impact Analysis by Type (Through Beam, Retroreflective, Reflective), Range, Structure, Beam Source, Output, Application (Industrial Manufacturing, Food and Beverages) and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The photoelectric sensor market was valued at USD 1.4 billion in 2019 and is projected to reach USD 2.1 billion by 2025; it is expected to grow at a CAGR of 7.8% from 2020 to 2025.
Major factors driving the growth of the photoelectric sensor market include extensive use of photoelectric sensors in different industries, increased adoption of retroreflective photoelectric sensors in various applications, and surged adoption of industrial robots across several regions.
Based on type, the retroreflective segment held the largest share of the photoelectric sensor market in 2019.
In 2019, the retroreflective segment held the largest share of the photoelectric sensor market, and this trend is projected to prevail during the forecast period. The growth of the retroreflective segment can be attributed to the rising use of retroreflective photoelectric sensors in industrial manufacturing and pharmaceuticals and medical applications. These sensors have simple wiring and optical axis adjustment controls, which enable their unaffected operations irrespective of the color or angle of the targeted objects. Retroreflective photoelectric sensors are used in pharmaceuticals and medical applications to avoid the empty packaging of tablets.
Based on range, the 100 to 1,000 mm range segment held the largest share of the photoelectric sensor market in 2019.
The 100 to 1,000 mm range segment held the largest share of the photoelectric sensor market in 2019 and is likely to exhibit a similar growth trend during the forecast period. The growth of this segment can be attributed to the increased demand for 100 to 1,000 mm photoelectric sensors from various end-use industries. These sensors can carry out long-range and short-range object detection, irrespective of their materials such as glass, metal, plastic, wood, and liquid. The 100 to 1,000 mm range photoelectric sensors are compact and cost-effective.
Based on structure, the built-in amplifier segment held the largest share of the photoelectric sensor market in 2019.
The built-in amplifier segment held the largest share of the photoelectric sensor market in 2019, and this trend is expected to continue during the forecast period. The growth of this segment can be attributed to the extensive use of built-in amplifier photoelectric sensors in ICs and wafer detection applications in the semiconductor manufacturing process. Moreover, these sensors are used for the reliable detection of objects in the long-range with less effect of curve and gloss on their sensing capabilities. Built-in amplifier photoelectric sensors are used in industrial manufacturing and automotive applications. The fiber type segment of the market is projected to grow at the highest CAGR of 9.4% during the forecast period. The growth of this segment can be attributed to the ability of fiber type photoelectric sensors to detect small differences in the height of objects. The use of fiber type photoelectric sensors is limited to narrow-space applications.
Based on the application, the industrial manufacturing applications held the largest market share in 2019.
In 2019, the industrial manufacturing segment held the largest share of the photoelectric sensor market. The advent of Industry 4.0, automation robots, virtual reality, and augmented reality to make manufacturing easy and risk-free has led to the adoption of photoelectric sensors in various industries. The modernization of machinery and other manufacturing systems to ensure less human interference are also driving the growth of the photoelectric sensor market.
The food and beverage segment of the market is projected to grow at the highest CAGR during the forecast period. The growing focus of the food and beverage industry on technologies and mechanical manipulation of raw foods to create high value-added food products is fueling the demand for photoelectric sensors. Moreover, automation brings standardization in all packaged food items and beverages. It minimizes human interference, thereby eliminating the chances of contamination of food and ensuring that all health standards are met.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/mfodxv
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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PRINCETON, N.J.--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) intends to commence concurrent offerings of (i) senior secured first lien notes, consisting of senior secured first lien notes due 2025 (the “2025 Secured Notes”) and senior secured first lien notes due 2027 (the “2027 Secured Notes” and, together with the 2025 Secured Notes, the “Secured Notes”), and (ii) senior unsecured notes, consisting of senior unsecured notes due 2029 and senior unsecured notes due 2031 (collectively, with the Secured Notes, the “Notes”). The 2027 Secured Notes are being issued under NRG’s Sustainability-Linked Bond Framework, which sets out certain sustainability targets, including reducing greenhouse gas emissions.
NRG intends to use the net proceeds from the offerings of the Notes (the “Notes Offerings”), together with cash on hand, to fund the purchase price of the previously announced acquisition (the “Acquisition”) of Direct Energy, the North American energy supply, services and trading business of Centrica plc (“Centrica”), pursuant to the previously disclosed Purchase Agreement, dated July 24, 2020, among NRG, Centrica and certain of Centrica’s subsidiaries (the “Purchase Agreement”), and to pay fees and expenses relating to the Acquisition, if consummated, and the Notes Offerings.
Concurrently with the Notes Offerings, Alexander Funding Trust, a newly-formed Delaware statutory trust (the “Trust”), intends to issue pre-capitalized trust securities redeemable 2023 (the “P-Caps”) in a private offering to certain qualified institutional buyers. The Trust will initially invest the proceeds from the sale of the P-Caps in a portfolio of principal and/or interest strips of U.S. Treasury securities (the “Eligible Assets”) and will enter into a facility agreement with NRG under which NRG will pay a periodic premium to the Trust, and NRG will agree to issue senior secured notes due 2023 (the “P-Caps Secured Notes” and, together with the P-Caps, the “P-Caps Securities”) to the Trust under certain circumstances. The Eligible Assets held by the Trust will be used to provide collateral to certain banks that have agreed to provide letters of credit for NRG’s account to support NRG’s existing and future collateral obligations, including following consummation of the Acquisition. NRG will not receive any proceeds directly from the offering of the P-Caps.
If the Acquisition is not consummated, or the Purchase Agreement is terminated, on or before July 24, 2021 (or, certain later dates pursuant to the automatic extension provisions of the Purchase Agreement, as applicable) (such event, an “Acquisition Triggering Event”), then NRG will be required to redeem, within 30 days of the Acquisition Triggering Event, a specified aggregate principal amount of the senior unsecured notes due 2029 and a specified aggregate principal amount of the senior unsecured notes due 2031, in each case, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date. In addition, the Trust will mandatorily redeem all of the P-Caps at a redemption price equal to 101% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date.
The Notes will be guaranteed on a first-priority basis by each of NRG’s current and future subsidiaries that guarantee indebtedness under its credit agreement. The Secured Notes, and any P-Caps Secured Notes, will be secured by a first priority security interest in the same collateral that is pledged for the benefit of the lenders under NRG’s credit agreement, which consists of a substantial portion of the property and assets owned by NRG and the guarantors. The collateral securing the Secured Notes and any P-Caps Secured Notes will be released if NRG obtains an investment grade rating from two out of the three rating agencies, subject to reversion if such rating agencies withdraw NRG’s investment grade rating or downgrade NRG’s rating below investment grade. The new senior unsecured notes will be senior unsecured obligations of NRG and will be guaranteed by the same subsidiaries that guarantee indebtedness under NRG’s credit agreement.
The Notes and related guarantees, as well as the P-Caps Securities, are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), or in the case of the Notes and related guarantees, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. The Notes and related guarantees, as well as the P-Caps Securities, have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
This press release does not constitute an offer to sell any security, including the Notes and the P-Caps Securities, nor a solicitation for an offer to purchase any security, including the Notes and the P-Caps Securities.
About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to more than 3.7 million residential, small business, and commercial and industrial customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, and by working towards a sustainable energy future.
Forward-Looking Statements
This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally and whether the Notes Offerings or the offering of P-Caps will be consummated, the anticipated terms of the Notes and the P-Caps, and the anticipated use of proceeds, including the consummation of the Acquisition.
The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included herein should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the SEC at www.sec.gov.
Investors:
Kevin L. Cole, CFA
609.524.4526
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Media:
Candice Adams
609.524.5428
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MINNEAPOLIS--(BUSINESS WIRE)--C.H. Robinson (Nasdaq: CHRW) today announced that the company will present at the Stephens Annual Investment Conference on Wednesday, November 18, 2020, at 2:00 p.m. Eastern / 1:00 p.m. Central. The conference will be held virtually this year.
The fireside chat discussion will be accessible live at www.chrobinson.com in the Investors section. A replay of the webcast will be available for two months following the live webcast.
About C.H. Robinson
C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With nearly $20 billion in freight under management and 18 million shipments annually, we are one of the world’s largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world’s economy. With the combination of our multimodal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our more than 119,000 customers and 78,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers’ businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit us at www.chrobinson.com (Nasdaq: CHRW).
Source: C.H. Robinson
CHRW-IR
FOR INQUIRIES, CONTACT:
Chuck Ives, Director of Investor Relations
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DURHAM, N.C.--(BUSINESS WIRE)--#energyfinance--The 162 MW Wagyu solar PV project in Brazoria County, Texas is now delivering power to the grid. Located near Houston, Texas, the project is owned by Cubico Sustainable Investments (Cubico), a leader and global investor in renewable energy, and was developed by Cypress Creek Renewables.
Project construction was performed by RES (Renewable Energy Systems). In addition to acting as the original project developer, Cypress Creek is also providing ongoing operations and maintenance and asset management for Wagyu.
Wagyu has the unique combination of a 15-year corporate PPA from Starbucks and a 12-year physical hedge with BP. It is the third and final project to reach operations within a portfolio that won the prestigious IJGlobal Award for Best Renewables Portfolio Deal of the Year for North America. The IJGlobal Awards are held annually to celebrate the best-in-class transactions and organizations across the international infrastructure and energy sectors.
IJGlobal noted, “[t]he Wagyu project is particularly notable as one of the growing number of Texas solar projects to be contracted under a hedge rather than, or in addition to, a power purchase agreement. Merchant risk was mitigated by cross-collateralizing the back levered debt across the three projects and by including a tracking account to help meet balancing obligations under the energy hedge. Since the hedge provider did not provide a tracking account, this feature had to be provided by the lenders, a very innovative step.”
Sarah Slusser, CEO of Cypress Creek, said: “Wagyu is Cypress Creek’s largest project to date and our twenty first project in Texas to reach commercial operation, highlighting our team’s deep experience developing, building and financing projects in Texas. The sophistication and complexity of the deal structure provided an excellent opportunity for our finance team to flex their creativity. The entire Cypress Creek team is thrilled to work alongside Cubico in creating valuable projects that benefit communities, bringing jobs, clean energy, and a tax base for the future.”
Cypress Creek collaborated with Cubico on the tax equity and the debt financing for the project. Tax equity was provided by U.S. Bank, while project finance debt was provided by HSBC, NORD/LB, and Rabobank.
About Cypress Creek Renewables
Cypress Creek Renewables is powering a sustainable future, one project at a time. We develop, finance, own and operate utility-scale and distributed facilities across the country. With more than 10.3 gigawatts of solar developed and more than 3.4 gigawatts under management, Cypress Creek is one of the country’s leading solar and storage companies. For more information about Cypress Creek, please visit www.ccrenew.com.
Jamie Nolan for Cypress Creek
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410-463-9869
KAOHSIUNG, Taiwan--(BUSINESS WIRE)--#DJSI--ASE Technology Holding Co., Ltd. (TAIEX: 3711, NYSE: ASX), the leading provider of semiconductor packaging, test and system assembly services, today announced that it has been included in the 2020 Dow Jones Sustainability Indices (DJSI) World and Emerging Market segments. This is also the fifth year in a row that the company has been named the Industry leader in the Semiconductors and Semiconductor Equipment Industry Group, becoming the only company from Taiwan to achieve this accolade. ASE is also the only company from Taiwan to be named on the CDP A list thrice and on the FTSE4Good Emerging Index for five straight years. The recognition from numerous distinguished international organizations is a testimony to ASE’s resounding commitment in corporate sustainability, which has allowed the company to gain a competitive edge and create positive impacts through its business practices.
The DJSI World applies a transparent, rules-based component selection process based on the companies’ Total Sustainability Scores resulting from the annual SAM (previously known as RobecoSAM) Corporate Sustainability Assessment (CSA). Only the top ranked companies within each industry are selected for inclusion. The CSA is open to the largest companies globally and over 3,500 publicly traded companies are invited this year. In this year’s DJSI list, there were 58 companies assessed in the Semiconductors and Semiconductor Equipment Industry Group, and 7 of the companies, including ASE, made the cut on the 2020 DJSI World list. ASE achieved outstanding scores in 23 assessment categories including the highest scores in the categories of customer relationship management, information security/cybersecurity and system availability, environmental reporting, product stewardship, corporate citizenship and philanthropy.
“Despite an uncertain economic climate that was exacerbated by a global pandemic, we were able to deliver outstanding financial results with revenue increasing 15% in the first three quarters of the year and demonstrate steady profit growth,” said Jason Chang, Chairman and CEO, ASE Technology Holding. “As an industry leader, we remain committed to promote sustainability across the entire organization and develop a sustainability blueprint for the long term. Going forward, we will continue to play an active role to advance sustainable development within the semiconductor industry and contribute positively to the environment, economy and society,” he continued.
Towards Industry 4.0. In 2015, ASE embarked on the planning and transformation of ASE’s operations into smart factories. The adoption of automation and the heterogeneous integration of facilities, machinery and IC packaging have helped to drive innovation and increase the value of the industry through the collaboration between ASE, customers and suppliers. ASE’s expertise in heterogeneous integration combined with sustainable development and the development of new applications will further advance and improve human life.
Managing Cybersecurity in a Digital Age. ASE has introduced the NIST CSF (National Institute of Standards and Technology Cybersecurity Framework) to all its 25 sites worldwide. With a robust risk and business continuity management structure, the company can effectively conduct overall cybersecurity maturity assessments and develop prudent responses against risks and threats.
Charting a Low Carbon Future. The development of low-carbon, efficient and environmental friendly clean energy has always been an integral part of ASE's sustainability strategy. In addition to active energy conservation and emission reduction, expansion of the green supply chain and increasing the use of renewable energy, ASE is also exploring new smart energy technologies and investing in renewable energy. In 2019, ASE’s consumption of renewable electricity increased by 29% compared with the previous year, and seven of its manufacturing sites have already achieved 100% renewable electricity usage. The total amount of water recycled has also increased by about 9% compared with 2018.
Giving back to the Community. The ASE Cultural and Educational Foundation and the ASE Foundation for Environmental Sustainability are responsible for developing long-term social projects that create environmental, economic and social benefits. The foundations support programs that align with environmental conservation, community building and arts charity.
Programs include the provision of medical care and education to rural communities, donation of a mobile clinic, organization of a summer camp for children in the rural communities, and activities for senior citizens. ASE has also launched a reforestation program to mitigate greenhouse effects, conserve water, increase green resources, and improve the habitat and biodiversity of wild animals and plants. Since 2017, the reforestation program has restored almost 27 hectares of land and about 40,000 new seedlings have been planted.
Resilience in a Pandemic. To mitigate the impact of Covid-19 on business operations, ASE has established innovative management systems and implemented BCP policies and pandemic measures at all its global locations. The company has also invested in technology and infrastructure to develop effective response and recovery mechanisms. Among the various approaches is the building of a class 100K clean room facility to manufacture high quality surgical face masks that will be provided to employees to help prevent transmission.
The thorough assessment of each ASE business unit’s benchmark for sustainable development and value creation has enabled ASE to foster a unique corporate value creation model that is closely in line with industry trends. Integration, expansion and innovation form the core of ASE’s basic business strategy for the future and serve as an important basis for the company to focus on achieving corporate sustainability of the highest standards. For more information on ASE Technology Holding Co., Ltd’s corporate sustainability, please visit http://www.aseglobal.com/en/csr/
About the Dow Jones Sustainability Indices (DJSI)
The Dow Jones Sustainability Indices (DJSI) are a family of best-in-class benchmarks that recognize companies with sustainable business practices. The family was launched in 1999 as the first global sustainability benchmark and tracks the stock performance of the world's leading companies in terms of economic, environmental and social criteria. Created jointly by S&P Dow Jones Indices and SAM in 1999, the DJSI combine the experience of an established index provider with the expertise of a specialist in Sustainable Investing to select the most sustainable companies from across 61 industries. For more information, please visit https://www.spglobal.com/esg/csa/
About ASE Technology Holding Co., Ltd.
ASE Technology Holding Co., Ltd. is among the leading providers of independent semiconductor manufacturing services in assembly, test, materials and design manufacturing. As a global leader geared towards meeting the industry’s ever growing needs for faster, smaller and higher performance chips, ASE Technology Holding develops and offers a wide portfolio of technology and solutions including IC test program design, front-end engineering test, wafer probe, wafer bump, substrate design and supply, wafer level package, flip chip, system-in-package, final test and electronic manufacturing services. For more information about ASE Technology Holding, please visit www.aseglobal.com; Twitter: @asegroup_global; Linkedin: https://www.linkedin.com/company/ase-group
Safe Harbor Notice
This press release contains "forward-looking statements" within the meaning of 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. Although these forward-looking statements, which may include statements regarding our future results of operations, financial condition or business prospects, are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and similar expressions, as they relate to us, are intended to identify these forward-looking statements in this press release. These forward-looking statements are necessarily estimates reflecting the best judgment of our senior management and our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied by the forward-looking statements for reasons including, among others, risks associated with cyclicality and market conditions in the semiconductor or electronic industry; changes in our regulatory environment, including our ability to comply with new or stricter environmental regulations and to resolve environmental liabilities; demand for the outsourced semiconductor packaging, testing and electronic manufacturing services we offer and for such outsourced services generally; the highly competitive semiconductor or manufacturing industry we are involved in; our ability to introduce new technologies in order to remain competitive; international business activities; our business strategy; our future expansion plans and capital expenditures; the strained relationship between the Republic of China and the People’s Republic of China; general economic and political conditions; the recent shift in United States trade policies; possible disruptions in commercial activities caused by natural or human-induced disasters; fluctuations in foreign currency exchange rates; and other factors. For a discussion of these risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including the 2019 Annual Report on Form 20-F filed on March 31, 2020.
Media Contact: Eddie Chang
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DUBLIN--(BUSINESS WIRE)--The "Nigeria Oil & Gas Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Nigeria oil and gas market is expected to grow at a CAGR of less than 5% during the forecast period of 2020 - 2025
Major factors driving the market are the increasing investments in the upstream and downstream sectors of the oil & gas industry. Oil and gas production had been hampered in Nigeria in the past few years, due to the attack on oil and gas infrastructure by militants. Further, oil theft has been one of the major issues faced by the oil & gas market in Nigeria, which resulted in huge losses to operating companies in the country.
Nigeria's offshore oil and gas industry continues to expand, albeit not very fast, opening more market opportunities. The growth of Nigeria's offshore exploration and production activities has been mainly driven by the efforts of governments in their region.
Lack of infrastructure, uncertainties in regulations, and security concerns have led Nigeria to under-utilize its refining capacities, thereby pushing the country to become a net importer of refined petroleum products. However, Nigeria is on the edge of altering refined products' supply dynamics in the region with the help of the upcoming Dangote Refinery and is expected to become the regional refining hub in the coming years.
Given the country's huge gas reserve and its advantage as a clean fuel, gas has already witnessed a massive surge in its domestic consumption in the recent years. Further, the country is steadily moving away from oil and exploring different ways to replace the oil consumption with gas in power as well as the transportation sector. The shift to gas is also supported by the fact that major oil reserves are likely to get dry in coming three to four decades. Hence, the oil market is considered to be one of the most vulnerable markets where natural gas has the highest potential to penetrate.
Moreover, gas production has become a major focus for the oil & gas companies, in response to strong investment in gas-to-power projects, across the region.
Key Market Trends
Offshore Segment to be Fastest Growing Market
Nigeria's offshore oil and gas industry continues to expand, albeit not very fast, opening up more market opportunities. The growth of Nigeria's offshore exploration and production activities has been mainly driven by the efforts of governments in their region, such as providing key incentives and supporting policies to unlock the investment opportunity, as well as a growing list of international oil and gas companies interested in exploring alternative fields to replace the maturing offshore producing sites.
Competitive Landscape
The Nigeria oil & gas market is moderately consolidated with top 5-6 players accounting for the majority of the share. Some of the major players include Nigerian National Petroleum Corporation (NNPC), Royal Dutch Shell PLC, Total SA, Chevron Corporation, and Exxon Mobil Corporation.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Oil and Gas Reserves, 2010-2018
4.3 Upstream Spending in USD billion, by Category, 2020-2025
4.4 Crude Oil Production in billion barrels per day, till 2025
4.5 Natural Gas Production in billion cubic feet per day, till 2025
4.6 Oil Breakeven Prices in USD/bbl for Key Unsanctioned Projects
4.7 Active Rig Count Historic Trend in Nigeria
4.8 Recent Trends and Developments
4.9 Government Policies and Regulations
4.10 Market Dynamics
4.11 PESTLE ANALYSIS
5 MARKET SEGMENTATION
5.1 Sector
5.1.1 Upstream
5.1.2 Midstream
5.1.3 Downstream
5.2 Location
5.2.1 Onshore
5.2.2 Offshore
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Nigerian National Petroleum Corporation (NNPC)
6.3.2 Royal Dutch Shell PLC
6.3.3 Total SA
6.3.4 Chevron Corporation
6.3.5 Exxon Mobil Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/dizdue
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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On National Scam Awareness Day, ComEd provides customers with tips to help identify scammers looking to steal money and personal information
CHICAGO--(BUSINESS WIRE)--As the holiday season approaches, ComEd recognizes Utility Scam Awareness Day, Nov. 18, by reminding customers to be on the lookout for imposters using energy-related scams to steal money and personal information.
Since 2017, customer reports of scams and scam attempts into ComEd’s call center have increased 60 percent. With the economic impacts of the COVID-19 pandemic, imposters are taking advantage of the situation to also pressure families and businesses who may be struggling with past-due balances.
“Every year, imposters get more sophisticated in their attempts to steal money or financial information from our customers,” said Nichole Owens, ComEd vice president of customer channels. “Utility Scam Awareness Day shines a national spotlight on ways customers can protect themselves from fraudulent activity that could jeopardize their electric service or financial information, especially during the holidays when many people are focused on family and social commitments.”
Common schemes involve imposters posing as ComEd employees to gain entry to a customer’s home to steal belongings. Some scammers, using technology to make their calls appear to come from a ComEd phone number, threaten to turn off a customer’s service unless they make a direct payment with a prepaid cash card. In other attempts, scammers send emails to businesses and request that they send ComEd payments to bogus payment sites.
Here are some tips to help identify scams
1. ComEd will never come to a customer’s home or business to:
2. ComEd will never call a customer to:
3. To identify an actual ComEd employee, remember:
A ComEd worker may knock on a customer’s door if they are unable to access equipment, such as the meter or pedestal transformer. If any customer is unsure whether a visitor or caller is a ComEd employee or believes he or she has been a target or victim of a scam, call 1-800-EDISON-1 (1-800-334-7661) immediately. To learn more, visit ComEd.com/ScamAlert.
Tips for business customers
ComEd is also seeing an increase in energy-related scam attempts targeting businesses. Offenders impersonate the names of ComEd and other trusted organizations in email or other communications. Their intention is to deceive businesses into providing personal and financial information or acting on urgent requests for payment.
To help protect a business from cyber-scams:
Bill-payment assistance to help customers avoid scam attempts
“ComEd also understands that COVID-19 continues to create economic hardship for many customers,” said Owens. “This is why we continue to suspend service disconnections for low-income customers and those who express a financial hardship through March 31, 2021.”
ComEd also offers a number of bill-payment assistance programs, including flexible payment options, financial assistance for past-due balances and usage alerts for current bills. Any customer who is experiencing a hardship or difficulty with their electric bill should call ComEd immediately at 1-800-334-7661 (1-800-EDISON-1), Monday through Friday from 7 a.m. to 7 p.m. to learn more and enroll in a program. For more information, visit ComEd.com/PaymentAssistance.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Media Relations
312-394-3500
DUBLIN--(BUSINESS WIRE)--The "India Oil and Gas Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Indian oil and gas market is expected to record a CAGR of over 2.64% during the forecast period, 2020 - 2025
Factors, such as increasing natural gas pipeline capacity, increasing refining capacity, and increasing demand for petroleum products, are expected to increase the growth for the Indian oil and gas market during the forecast period. However, a huge dependence over imports of crude oil and natural gas for satisfying domestic demand and high volatility of crude oil prices is expected to restrain the growth of the Indian oil and gas market.
The refining capacity has been growing considerably over the recent past and is expected to grow over the forecast period, owing to the expansion projects of several refineries and a possibility of one of the largest greenfield refineries getting constructed in India. Therefore, the downstream sector is expected to witness growth.
There have been significant gas hydrates discoveries in the KG Basin. Economically feasible extraction of the gas hydrates may become an opportunity for the companies and may lead to a boom in natural gas production.
Increase in investment especially in midstream sector is expected to witness growth. The pipeline market in the country has grown significantly with pipeline increasing in all the sectors. Total pipeline length at 43807 km, in 2018, registered a growth of 3% as against 42541 km, in 2017.
Key Market Trends
Downstream Sector to Witness Significant Growth
The refinery capacity of the country increased, by 3.65 %, Year-on-Year, to 4,972 thousand barrels per day (kbpd), in 2018, from 4307 kbpd, in 2015. The refining throughput increased from 2.9% to 5154 kbpd, in 2018, from 5010 kbpd, in 2017.
Increase in Investment to Drive the Market
In 2019, The world's longest liquified petroleum gas (LPG) pipeline is expected to be laid, in the forecast period, for approximately 9,000 crore INR. It is expected to take the LPG from three LPG import terminals (at Kandla, Pipavav, and Dahej ) and two oil refineries along the route. The LPG will be transported to the LPG bottling plants in the States of Gujarat, Madhya Pradesh, and Uttar Pradesh.
Competitive Landscape
The Indian oil and gas market is moderately consolidated. The major players are Oil and Natural Gas Corporation, Oil India Limited, Reliance Industries, Indian Oil Corporation Limited, and Punj Lloyd Limited.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Crude Oil Consumption Forecast in thousands barrels per day, till 2025
4.3 Natural Gas Consumption Forecast in billion cubic feet per day, till 2025
4.4 Refinery Installed Capacity and Forecast in thousands barrels per day , till 2025
4.5 LNG Terminals Installed Capacity and Forecast in MTPA, till 2025
4.6 Recent Trends and Developments
4.7 Government Policies and Regulations
4.8 Market Dynamics
4.8.1 Drivers
4.8.2 Restraints
4.9 Supply Chain Analysis
4.10 PESTLE Analysis
5 MARKET SEGMENTATION
5.1 Upstream
5.1.1 Location of Deployment
5.1.1.1 Onshore
5.1.1.1.1 Overview
5.1.1.1.2 Key Projects
5.1.1.1.2.1 Existing Projects
5.1.1.1.2.2 Projects in Pipeline
5.1.1.1.2.3 Upcoming Projects
5.1.1.2 Offshore
5.2 Midstream
5.2.2 Storage
5.2.3 LNG Terminals
5.3 Downstream
5.3.1 Refineries
5.3.2 Petrochemicals Plants
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 Oil and Natural Gas Corporation
6.3.2 Oil India Limited
6.3.3 Reliance Industries
6.3.4 Indian Oil Corporation Limited
6.3.5 Punj Lloyd Limited
6.3.6 Bharat Petroleum Corporation Limited
6.3.7 GAIL (India) Limited
6.3.8 Hindustan Petroleum Corporation Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/z9md2n
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--$ALS.TO #ironore--Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) reports that it has been informed by Deloitte Restructuring Inc., the Receiver overseeing the disposition of assets formerly held by Alderon Iron Ore Corp. (“Alderon”), that an acquisition proposal by Champion Iron Limited (the “Acquisition”) has been approved by the Supreme Court of Newfoundland and Labrador following a competitive bidding process. The primary asset involved in the Acquisition is the advanced stage Kamistiatusset (“Kami”) iron ore project located in the Labrador Trough geological belt in western Labrador.
Altius’s Project Generation team completed an initial drilling program that broadly outlined the Kami high-grade iron ore deposits in 2008. Altius subsequently sold the project to Alderon in exchange for a significant equity shareholding in the company and retention of a direct project interest through a 3% gross sales royalty, which has not been impacted by the receivership process. Altius then acquired additional Alderon equity in early 2018 through a purchase from a third-party shareholder and soon after that also became a minority participant in a Sprott Private Resource Lending LP secured debt funding syndicate.
Under the Acquisition, Altius will receive 600,000 Champion Iron shares as consideration for the sale of its portion of secured debt of Alderon. It also expects to receive a portion of the $15 million cash consideration and the future production-based payments stemming from its 37.3% equity holding in Alderon. The amount of cash consideration will be dependent on the Receiver’s approval process for any additional creditor claims, which will rank in priority over any amounts payable to equity holders. This process remains ongoing, but the Receiver has stated that it believes there will be a substantial recovery to Alderon shareholders.
Closing of the Acquisition is subject to the consent of the Ministry of Industry, Energy and Technology of Newfoundland and Labrador, as well as other customary closing conditions. The Acquisition is expected to be completed in the fourth quarter of calendar 2020.
Brian Dalton, Altius CEO commented, “We are excited to learn that the Kami project has found its way to a new owner that has the proven operating experience and financial depth necessary to further its advancement to potential production. The project is located adjacent to available infrastructure and features high-quality iron ore of a type that is in increasing global demand owing to its low impurities and inherently lower emissions profile during the steel making process. In addition to achieving a recovery on our loan principal and benefitting from our significant equity interest in Alderon, we are excited about the renewed possibility for development of the Kami project and the implications of that relative to our fully preserved royalty interest.”
He then added, “We are also pleased that communities in the Labrador West region, various aboriginal groups and indeed the Provinces of Newfoundland and Labrador and Quebec can now gain a renewed hope in the future economic and social benefits that development of the Kami project would entail and call upon all stakeholders to work diligently together to ensure this outcome. With a strong spirit of cooperation and the inherent positive economic and global sustainability features of the Kami project we share optimism for a positive result and pledge our ongoing support.”
About Altius
Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. Altius has 41,464,462 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
Forward-Looking Information
This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and Altius provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Altius believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. Altius does not undertake to update any forward-looking information contained herein except in accordance with securities regulation.
Flora Wood
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Tel: 1.877.576.2209
Direct: +1(416)346.9020
Chad Wells
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Tel: 1.877.576.2209
Leading uranium producer Orano will be world’s first to deploy as part of Eureka-approved project
VANCOUVER, British Columbia--(BUSINESS WIRE)--Canadian Earth ‘x-ray’ start-up Ideon Technologies is initiating the world’s first field trials of a muon detector that fits down industry-standard boreholes – together with French multi-national Orano Group, in a cooperative EUREKA-approved research and development project, and with funding support from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
Ideon is a world pioneer in cosmic-ray muon tomography, which provides x-ray-like imaging to those who explore beneath the Earth’s surface. The Ideon discovery platform integrates proprietary muon detectors, imaging systems, inversion technologies, and artificial intelligence to produce 3D density maps of features up to 1 km underground. It improves geologists’ subsurface field-of-view, reducing the need for expensive drilling activity while increasing discovery certainty.
EUREKA is the world’s biggest platform for international cooperation in R&D and innovation. Funding is merit-based and highly competitive. As part of the collaboration, Ideon will receive advisory services and up to C$435,000 in funding support from NRC IRAP for the EUREKA-approved project. Orano is partnering on this project with cash and in-kind support, while Ideon is contributing survey design, detector development, discovery platform processing, and field deployment.
The objective of the project is to build and demonstrate the world’s first industry-standard borehole (< 10 cm diameter, HQ-gauge), low-power (< 10W continuous power consumption), zero-maintenance (10 years maintenance-free) muon tomography detector suitable for operation in the extreme environmental conditions of mineral exploration sites around the world.
Like most companies competing in the $12 billion USD global mineral exploration market, Orano has a vested interest in developing innovative, cost-effective methods of discovering new ore bodies while reducing their environmental footprint. “We have been collaborating with Ideon for several years to advance muon tomography for commercial use,” says Hervé Toubon, Research & Development and Innovation Director at Orano. “It is virtually impossible to detect high-grade uranium deposits at depth using conventional geophysical exploration techniques. We successfully deployed Ideon’s first-generation muon detectors in 2016-17 to image a deposit under 600m of sandstone. After the impressive results of that trial, we wanted to be first in line to test Ideon’s new borehole detectors. The ability to deploy 50x smaller detectors, down industry-standard boreholes has the potential to greatly lower our exploration costs, significantly improve our discovery rates, and help us meet our environmental, social, and corporate governance (ESG) commitments.”
“We have demonstrated through trials with Orano and other major mining companies that muon tomography is well positioned to transform subsurface discovery,” says Ideon CEO and Co-founder Gary Agnew. “We will now demonstrate that the shape, size, and data capture and processing capabilities of Ideon’s proprietary muon detectors can be deployed within the confines of typical exploration boreholes and deliver the performance required to map density in 3D with excellent spatial resolution. We are grateful to Orano for their ongoing partnership and to NRC IRAP for supporting Canadian innovation through programs such as EUREKA.”
Orano will host the field trial in Saskatchewan in 2021 near a known deposit representative of the depth, size, grade, and density contrasts of targeted deposits. The company will contribute a test drill hole and associated infrastructure, geological models, geophysical data, drill assay data, terrain models, and logistical support for detector deployment. Together, Ideon and Orano will interpret the acquired muon tomography data and to qualify it against existing drill data and other geophysical datasets.
The outcome of this applied R&D project will be a new, field-proven method for mapping dense ore bodies at depth, along with a suite of new measurement instruments and an enhanced body of learning related to the application of muon tomography for mineral exploration applications. Ideon’s new borehole detector is slated for commercial release in 2021.
Media Contact
Kim Lawrence
Ideon Technologies, Inc.
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DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Digital Rock Analysis Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The oil and gas digital rock analysis market is expected to grow at a CAGR of more than 2.5% over the period of 2020-2025.
Companies Mentioned
Key Market Trends
Conventional Segment to Dominate the Market
Oil and gas digital rock analysis encompass a multi-disciplinary approach involving advanced microscopy and physics combined with geology, geochemistry, petrophysics, and petroleum engineering to understand the pore-scale microstructure of reservoir rock. It may be used to help exploration and production (E&P) operators to reduce risk, increase the production of hydrocarbon, and improve the recovery from the well. Its improvements made over the conventional methods are expected to aid its growth in the market.
North America to Dominate the Market
North America region is the largest oil and gas digital rock analysis market and is expected to continue its dominance in the coming years. The region consists of major oil and gas oil production basins in the world, which provide fertile ground for further growth in the industry.
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 Crude Oil Production and Consumption Forecast, in thousands barrels per day, till 2025
4.4 Natural Gas Production and Consumption Forecast, in billion cubic feet per day, till 2025
4.5 Recent Trends and Developments
4.6 Government Policies and Regulations
4.7 Market Dynamics
4.7.1 Drivers
4.7.2 Restraints
4.8 Supply Chain Analysis
4.9 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Conventional
5.1.2 Unconventional
5.2 Geography
5.2.1 North America
5.2.2 Asia-Pacific
5.2.3 Europe
5.2.4 South America
5.2.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/5k9gdf
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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TOKYO--(BUSINESS WIRE)--Idemitsu Kosan Co.,Ltd. (Headquarters: Tokyo, Japan), has decided to invest in an open innovation evergreen fund, managed by Emerald Technology Ventures, a Swiss clean technology-focused venture capital organization (Headquarters: Zurich, Switzerland). In addition, Idemitsu has decided to establish a new open innovation promotion base in Switzerland. For new business creation, Idemitsu strengthens its efforts to accelerate innovations with start-up companies, not only in Japan, but around the world.
The Emerald fund portfolio focuses on industrial innovations in both material chemistry and clean technologies that can help resolve social issues with improvements to energy efficiencies and reductions in carbon dioxide levels. Idemitsu’s investment in this evergreen fund and the creation of a partnership with Emerald will realize new synergies that play on Emerald’s technological expertise and market insight, as well as Emerald’s access to start-up companies in North America, Europe and Israel, together with Idemitsu’s existing technologies and cultivated business networks. Those synergies will in turn lead to the creation of a resilient business portfolio that can flexibly and tenaciously respond to changes in business conditions by incorporating technological innovations from start-up companies.
To further accelerate global open innovations, Idemitsu also plans to establish a European open innovation promotion base in the Swiss canton of Basel-Stadt.
“To resolve the priority themes in our Medium-term Management Plan*, we not only pursue maximal synergies with technologies that are related to those our corporate group has already developed, but will also stress the promotion of open innovations that build on external technologies and ideas,” said Hajime Nakamoto, Managing Executive Officer in Innovation Strategy Planning, Electronic Materials Business, Agri-Bio Business, Lithium Battery Material, Intellectual Property, and Research at Idemitsu. “This investment and the establishment of overseas bases are momentous steps forward for us. Though implementation of open innovation is a long-term objective, we, especially our young employees, drive ourselves forward to laying the foundations early.”
Idemitsu is taking on the challenge of creating new values through the promotion of global open innovation.
Notes:
* Idemitsu’s Medium-term Management Plan (FY2020-2022)
https://sustainability.idemitsu.com/en/themes/259
[Overview of Idemitsu Kosan Co.,Ltd.] |
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Company Name |
Idemitsu Kosan Co.,Ltd. |
Business Description |
Sustainable supply of various forms of energy and materials |
Website |
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[Overview of Emerald Technology Ventures] |
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Company Name |
Emerald Technology Ventures |
Business Description |
Open Innovation Venture Capital |
Website |
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Public Relations Section, Idemitsu Kosan Co., Ltd.
https://www.idemitsu.com/contact/flow/index.html
Yuuka Sakata (Ms.)
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DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Oil and Gas Midstream Market - Growth, Trends, and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The market for the Saudi Arabia oil and gas midstream market is expected to register a CAGR less than 5.51% during the forecast period of 2020-2025.
Factors such as increasing oil and gas production, the government's push to invest in the pipelines, and the growing consumption of oil and gas are expected to boost the demand for the Saudi Arabia oil and gas midstream market during the forecast period. However, policy to artificially reduce the production to increase the price of oil has reduced the required capacity of the pipeline and thereby impeded the growth in the market.
The pipeline sector is expected to witness growth due to the government's push in the oil and gas midstream sector. Few pipelines have been proposed by the Kingdom of Saudi Arabia and neighboring countries that are expected to cross the country over the forecast period. The expansion project of Petroline is expected to generate the largest increase in capacity for the country.
In 2020, the Kingdom of Saudi Arabia plans to develop unconventional natural gas reserves in the eastern Jafurah field, which can become an opportunity for the companies with expertise in unconventional resources and also increase the capacity required for storage and pipelines.
Increasing gas production and further plans to increase the output are expected to drive the market. Infrastructure related to the storage and pipeline is likely to increase as the demand for oil and gas in the country increases.
Key Market Trends
Pipeline Sector to Witness Growth
The oil production increased in the country, by 0.59%, year-on-year, from 11998 Thousand barrels daily, in 2015 to 12287 thousand barrels daily, in 2018. Keeping low oil production capacity is used as a method by the countries of OPEC plus to reduce the supply of oil, so the price per barrel of oil increases.
Increasing Gas Production to Drive the Market
Consumption of natural gas increased in the country, by 2.6%, from 93.9 million metric ton oil equivalent, in 2017 to 96.4 million metric ton oil equivalent, in 2018, mainly due to the government's focus on increasing gas production and its usage to reduce carbon footprint.
Competitive Landscape
The Saudi Arabian oil and gas midstream market is consolidated. Some of the major companies include Bahrain Petroleum Company, Saudi Aramco Total Refining and Petrochemical Co., Saudi Aramco Jubail Refinery Company, Saudi Arabian Oil Company, and Saipem SPA.
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, until 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 PESTLE ANALYSIS
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Transportation
5.1.1.1 Overview
5.1.1.1.1 Existing Infrastructure
5.1.1.1.2 Projects in Pipeline
5.1.1.1.3 Upcoming Projects
5.1.2 Storage
5.1.3 LNG Terminals
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 Saipem SPA
6.3.2 Bahrain Petroleum Company
6.3.3 Saudi Aramco Total Refining and Petrochemical Co.
6.3.4 Saudi Aramco Jubail Refinery Company
6.3.5 Saudi Arabian Oil Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/2dkol1
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For U.S./CAN Toll Free Call 1-800-526-8630
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HOUSTON--(BUSINESS WIRE)--Max Midstream Texas, LLC (“Max”) is launching an open season to solicit shipper commitments for services in the Eagle Ford region on its Seahawk Pipeline (“Seahawk”). The open season will provide an opportunity for interested shippers to secure firm priority crude oil transportation with Seahawk under binding transportation services agreements.
Seahawk will provide the market with a new marine export capability at its terminal in Point Comfort, Texas. This is expected to be placed in service by January 2021.
The open season will commence at 9 a.m. CDT on November 2, 2020 and will end at 5pm central time on December 3, 2020. Bona fide potential shippers that would like to receive copies of the open season documents, including transportation service agreements and proposed tariff(s) must first sign a confidentiality agreement (requested by emailing This email address is being protected from spambots. You need JavaScript enabled to view it., or by going to www.maxmidstream.com, and selecting the “Seahawk Open Season” link).
More information about the binding open season for pipeline is available by contacting Keith Taylor, Chief Commercial Officer at (281) 909-4034 or via email at This email address is being protected from spambots. You need JavaScript enabled to view it.. For further information, please visit www.maxmidstream.com.
About Us: Max Midstream Texas, LLC, headquartered in Houston, Texas, is a private fee-based, growth-oriented Delaware limited liability corporation to own, operate, develop, and acquire crude oil and other logistics assets.
This press release contains certain statements that are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, concerning the expectation of the stated completion timeframes and capacities of the Edna Terminal and the Seahawk Pipeline and Seahawk Terminal. We undertake no obligation to publicly release the result of any revisions to any such forward-looking statements that may be made to reflect events or circumstances that occur, or which we become aware of, after the date hereof.
Kasey S. Pipes 817-542-3870
BRYN MAWR, Pa.--(BUSINESS WIRE)--Essential Utilities Inc. (NYSE: WTRG) announced today that Colleen Arnold, president of its water and wastewater utilities across the eight-state Aqua footprint, has been named one of the Philadelphia Business Journal’s Women of Distinction for 2020.
“I congratulate Colleen on this well-deserved honor,” said Essential Chairman and CEO Christopher Franklin. “Colleen is an incredibly talented engineer and executive with a deep knowledge of water and wastewater operations, water distribution and environmental compliance. She’s also a respected advisor to her colleagues at Aqua and throughout the water industry. Colleen’s extensive expertise and profound commitment to our mission make her uniquely qualified to lead Aqua as we deliver life-sustaining resources to our customers and communities.”
Arnold is the first woman to lead Aqua’s water and wastewater utilities since the creation of the company in 1886. Essential appointed her as president earlier this year.
“I’m honored to be recognized among so many remarkable and accomplished women,” said Arnold. “This award is a tribute to the teams at Aqua and Essential and their dedicated efforts on behalf of the customers we serve.”
Arnold reports to Rick Fox, chief operating officer of Essential. “Colleen took the helm at Aqua during an incredibly challenging time when schools and businesses were beginning to shut down due to the COVID-19 pandemic. Since then, she has worked with Essential’s pandemic response team to create and execute policies and procedures designed to keep the company’s water and wastewater employees safe as they continue to ensure the reliable delivery of water and wastewater service to our customers,” Fox said.
Before assuming her current role, Arnold was deputy chief operating officer for Aqua, a role she held since September 2015. Before then, Arnold held the role of director of water quality and environmental compliance, where she organized and oversaw Aqua’s program to ensure compliance with environmental regulations and permits for all operations. Earlier, Arnold served as manager of treatment and water quality for Aqua Pennsylvania.
Arnold has more than 25 years of experience in environmental engineering and utility operations management and an extensive background and education in water quality. She began her career as a consultant engineer with two top-tier firms, where she provided services to water and wastewater utilities in New York City, Philadelphia and throughout the country. She also served as water quality manager and assistant water director for more than eight years with the City of Wilmington, Delaware. There she established an asset management program, implemented a work order management system and an enhanced long-term control plan for the combined sewer program, and managed a $40 million energy performance contract with Honeywell.
Arnold earned her bachelor’s degree in civil engineering from the University of Massachusetts, her master’s degree in environmental engineering from Manhattan College, and her executive MBA from Villanova University. Villanova awarded Arnold its Bartley Medallion, the highest distinction the Villanova School of Business presents to a graduating student, reflecting her significant contributions to the school community.
Arnold’s professional memberships include more than 25 years with the American Water Works Association, where she currently serves on the Partnership for Safe Water steering committee and the Technical & Educational Council. She is also a member of the Water Environment Federation and has been a board member for the Partnership for the Delaware Estuary since 2016.
The Philadelphia Business Journal’s Women of Distinction award honors women in the business community who are blazing a trail in their business, are respected for accomplishments within their industries, give back to the community, and are sought out as respected advisors and mentors within their field of influence.
About Aqua
Aqua’s water and wastewater utilities serve more than 3 million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Visit Aqua online at AquaAmerica.com, facebook.com/MyAquaAmerica, and twitter.com/MyAquaAmerica.
About Essential
Essential is one of the largest publicly traded water, wastewater and natural gas providers in the U.S., serving approximately 5 million people across 10 states under the Aqua and Peoples brands. Essential is committed to excellence in proactive infrastructure investment, regulatory expertise, operational efficiency and environmental stewardship. The company recognizes the importance water and natural gas play in everyday life and is proud to deliver safe, reliable services that contribute to the quality of life in the communities it serves. For more information, visit http://www.essential.co.
WTRGG
Gretchen Toner
Communications and Marketing
484.368.4816
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PRINCETON, N.J.--(BUSINESS WIRE)--Climate Change Crisis Real Impact I Acquisition Corporation (the “Company”) announced today that, commencing November 20, 2020, holders of the units sold in the Company’s initial public offering may elect to separately trade shares of the Company’s Class A common stock (“Class A Common Stock”) and warrants included in the units. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The shares of Class A common stock and warrants that are separated will trade on the New York Stock Exchange under the symbols “CLII” and “CLII WS,” respectively. Those units not separated will continue to trade on the New York Stock Exchange under the symbol “CLII.U.” Holders of Units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the Units into shares of Class A Common Stock and Warrants.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Climate Change Crisis Real Impact I Acquisition Corporation
Climate Change Crisis Real Impact I Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to target climate change-fighting sectors.
Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to the Company or its management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to the Company or persons acting on its behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Dan Gross
Head of Transaction Execution
Climate Change Crisis Real Impact I Acquisition Corporation
212-847-0360
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