WILLIAMSPORT, Pa.--(BUSINESS WIRE)--Eureka Resources, LLC has received a new patent for processes that:

• Analyze the chemical characteristics of oil and gas wastewater of disparate compositions,
• Sort and direct the wastewater through appropriate treatment protocols, and
• Extract lithium, other valuable minerals and fresh water from it.

The company estimates that lithium extracted through its processes could supply approximately 25 percent of the country’s annual demand, or the equivalent of the U.S. Department of Defense’s annual consumption, solely from the wastewater of Marcellus-region oil and gas producers.

“Eureka is the only company that offers ecologically sound water-disposal services to oil and gas producers, allowing them to avoid the wasteful and potentially harmful injection of wastewater into oil and gas injection wells,” said Daniel Ertel, Eureka’s chief executive officer. “In addition, we’ve relied for too long on other countries’ often unreliable supply chains for many products and materials necessary for U.S. security, productivity and economic growth. Eureka is committed to helping the country improve and strengthen domestic sources of critical minerals by extracting them from oil and gas wastewater.”

Eureka currently extracts lithium, calcium chloride, salt, oil and methanol from wastewater produced in the Marcellus Shale region. Over the next several years, the company expects to expand into other producing regions within the Marcellus basin, and to the Permian, Bakken, Haynesville and Barnett shale basins by 2023.

In addition to producing beneficial minerals and providing an ecologically friendly solution to oil and gas wastewater, Eureka’s fresh water co-product can be used to recharge impaired aquifers, creeks, rivers and lakes. The company has been returning water to the hydrological cycle in Pennsylvania for more than twelve years under the oversight of the Pennsylvania Department of Environmental Protection.

This is the company’s fourth patent for its groundbreaking approach to cleansing and recycling wastewater from oil and gas operations.

About Eureka Resources, LLC

Headquartered in Williamsport, Pa., Eureka Resources uses innovative technologies to reclaim water – the world’s most valuable resource – by isolating and removing hundreds of types of particles from wastewater. The resulting water and beneficial minerals are so pure they meet or exceed regulatory requirements. The company has three wastewater treatment facilities, which are geographically positioned for easy access by Marcellus Shale oil and gas producers and their transportation partners. For further information, visit www.eureka-resources.com.

Cindy Tallman
570-651-9972
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- LGCY Power’s nationwide team of sales reps matched the company’s sponsorship commitment of $20,000 dollar for dollar -

LEHI, Utah--(BUSINESS WIRE)--LGCY Power announced that they were a Slave Stealer Sponsor for Operation Underground Railroad’s Rise Up For Children Gala on Saturday, November 7, 2020. In addition to the $20,000 sponsorship, LGCY Power’s nationwide team of sales reps matched the company’s sponsorship commitment dollar for dollar.

The Rise Up For Children Gala featured a special presentation from Tim Ballard, Founder and CEO of Operation Underground Railroad, and a live auction designed to raise funds to help the organization rescue children throughout the world.

“Part of our mission statement is to be the best version of yourself and to help others do the same and supporting organizations like Operation Underground Railroad is one of the ways we live our mission statement on a daily basis,” said Doug Robinson, CEO of LGCY Power. “We’ve always been fans of Operation Underground Railroad and their commitment to eradicating child sex trafficking and sexual exploitation. I’m a firm believer that serving others brings out the best in people and that has been evident as we communicated our intentions with our team and they came back to us with a commitment to match our sponsorship dollar for dollar. I’m incredibly proud of our team and their dedication to making a difference in the lives of others.”

Operation Underground Railroad’s mission is to rescue children from sex trafficking and sexual exploitation. Since being founded in 2013, Operation Underground Railroad has assembled a team comprised of the world’s leading experts in extraction operations and anti-child trafficking to bring an end to child slavery. The team consists of former CIA, past and present law enforcement and highly skilled operatives that lead coordinated identification and extraction efforts.

“The work Operation Underground Railroad does paves the way for permanent eradication of child sex trafficking and sexual exploitation,” continued Robinson. “We encourage others to join us and donate to support the fight against modern-day slavery and improve the lives of children that have been taken against their will and forced into unthinkable hardships.”

LGCY Power dedicates time and resources throughout the year to support charitable causes and organizations through quarterly service projects with groups such as local homeless shelters, Habitat for Humanity and the Boys and Girls Clubs of America. Additionally, once a year the company organizes humanitarian missions to areas in need around the globe. In past years, LGCY Power has served in Thailand to build playgrounds at elementary schools, Peru to build homes and plant gardens in remote villages and the Caribbean to help clean and beautify cities suffering from poverty.

Click HERE to donate to Operation Underground Railroad and support the fight against modern-day slavery. For more information about LGCY Power visit www.lgcypower.com.

ABOUT LGCY POWER

LGCY Power was named one of the Emerging 8 companies in Utah, A Best Place to Work by Glassdoor.com and Utah Business, and is focused on providing an extraordinary solar experience for customers in the United States. By offering a cleaner, cheaper alternative to traditional electricity, LGCY assists residential homeowners by providing solar power at little to no upfront cost. For more information visit www.lgcypower.com.

Russ Page, Chief Marketing Officer
801-999-8330
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DUBLIN--(BUSINESS WIRE)--The "Asia Pacific Photovoltaic Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Application; Type; Component" report has been added to ResearchAndMarkets.com's offering.

The photovoltaic market in the Asia Pacific was valued at US $94.81 billion in 2019 and is projected to reach US$ 407.93 billion by 2027; it is expected to grow at a CAGR of 20.0% during the forecast period.

Several initiatives have been taken by governments in APAC to minimize the cost of the overall set-up to maximize the far-reaching benefits of an on-grid option in rural electrification, along with uplifting the focus toward sustainable environmental conditions. Moreover, several countries, such as China have established policies to enhance the production level of photovoltaic solar power energy. Further, several public and private associations have been established to fuel the demand for photovoltaic systems across the world. These factors are likely to drive the photovoltaic market in Asia Pacific.

The inorganic components segment by type led the photovoltaic market with a decent market share in 2019. The inorganic semiconductor materials used to produce photovoltaic cells include amorphous and microcrystalline Si, the III-V compounds and alloys, CdTe, crystalline, multicrystalline, chalcopyrite compound, and copper indium gallium diselenide (CIGS).

Overall size of the photovoltaic market in Asia-Pacific has been derived using primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Asia-Pacific photovoltaic market. It also provides an overview and forecast for the photovoltaic based on all the segmentation provided with respect to the Asia-Pacific region. Also, primary interviews were conducted with industry participants and commentators in order to validate and analyze the data. The participants who take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Photovoltaic industry. Mitsubishi Electric Corporation, Panasonic Corporation, and Kaneka Corporation are among the market players present in the Asia Pacific photovoltaic market.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia-Pacific Photovoltaic market.
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the Asia-Pacific Photovoltaic market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth Asia-Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

• Rise in Demand for Electricity and Shift Over the Renewable Form of Energy
• Supportive Government Policies for Support the Use of Solar Energy

Restraints

• Fluctuating Economic and Political Conditions

Opportunities

• Adoption of Photovoltaic Paints

Trends

• Installation of Standalone Systems

Companies Mentioned

• Mitsubishi Electric Corporation
• Panasonic Corporation
• Kaneka Corporation
• Kyocera Corporation
• Sharp Corporation
• JA Solar Co., Ltd
• Renesola Co. Ltd
• Trina Solar
• Jink Solar
• Shunfeng International Clean Energy Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/u7wxql

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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--(BUSINESS WIRE)--Cummins Inc. (NYSE: CMI):

Further information and a link to join the press event will be provided following RSVPs.

Jon Mills
Cummins Inc.
Phone: 317-658-4540
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Systems to provide critical power generation for today’s high-tech armed forces

BELOIT, Wis.--(BUSINESS WIRE)--Fairbanks Morse, a leading provider of solutions that are powering the world forward, will supply the Ship Service Diesel Generator (SSDG) sets for the electric power generation system aboard the U.S. Navy’s newest America class amphibious assault warship LHA-9. Construction of the SSDGs will begin in 2021 and delivery to the shipbuilder Huntington Ingalls Industries in Pascagoula, Miss. will start in 2023.

The Landing Helicopter Assault (LHA) ships, the largest of all amphibious warfare ships, take more than five years to build and are 844 feet long with a 106-foot beam displacing more than 44,000 tons. The U.S. Navy depends on Fairbanks Morse’s battle-tested diesel engines for marine propulsion and mission-critical ship electrical services whether on routine, humanitarian or belligerent missions.

“Marine engines and power generation for today’s high-tech armed forces requires manufacturing excellence and technical innovation that never fails,” said Fairbanks Morse CEO, George Whittier. “In a globalized world with growing demand for energy, we are proud to continue our partnership with the U.S. Navy and Huntington Ingalls Industries to ensure the highest standards of critical power support at sea and to help America’s service men and women carry out their missions at home and abroad.”

The Navy currently has a requirement for 38 amphibious ships, including 12 amphibious assault ships such as the America-class LHAs. With tight budgetary constraints and an even more dire need for submarines, the production of the LHA-9 represents a critical addition to the nation’s global fleet.

Like other ships in the fleet, including its predecessors, USS America LHA-6, USS Tripoli LHA-7, and USS Bougainville, LHA-8, LHA-9 will be equipped with a diesel engine-driven electrical power generation system, which provides ship service power and also drives two induction-type auxiliary propulsion motors which power the ship’s propeller drive shaft. The hybrid-electric propulsion systems use a gas turbine engine as well as an electric motor powered by the diesel generators. The electric motors propel the ship at speeds up to around 12 knots and the generators also produce power for the ship’s electrical services.

Today, Fairbanks Morse engines are installed on approximately 80% of U.S. Navy ships that have a medium speed power application. The U.S. Navy has turned to Fairbanks Morse for over seven decades to provide quality diesel engines for marine propulsion and ship service systems.

About Fairbanks Morse

Fairbanks Morse manufactures and services heavy-duty, medium-speed reciprocating engines under the Fairbanks Morse® and ALCO® brand names, which are used primarily in marine and power generation applications. Fairbanks Morse has been the original equipment manufacturer of its engines for over 125 years and has a large installed base for which it supplies aftermarket parts and services. Fairbanks Morse is the principal supplier of diesel engines to the U.S. Navy, U.S. Coast Guard and Canadian Coast Guard. One hundred percent of manufacturing is conducted in its U.S. based facility in Beloit, Wis., while aftermarket parts and services are delivered through its growing network of service centers strategically located around the U.S. Fairbanks Morse is a portfolio company of Arcline Investment Management. Learn more about Fairbanks Morse by visiting www.fairbanksmorse.com.

Mercom Communications
Wendy Prabhu
1.512.215.4452
www.mercomcapital.com
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From Creating Innovations to Advancing Industries from Science to Transportation to COVID-19-Related Pivots, PMI Recognizes the Projects Reimagining Our Future

PHILADELPHIA--(BUSINESS WIRE)--Project Management Institute (PMI) today announced the top 50 influential projects of the past 18 months on its annual list of Most Influential Projects. Most Influential Projects highlights compelling projects around the world and across industries that achieved significant milestones and impacted our society. This year’s list follows PMI’s inaugural list released last year in honor of PMI’s 50^th anniversary that showcased the 50 most amazing feats that projects have made possible over the previous five decades.

The 2020 edition of the Most Influential Projects reflects how project professionals have found ingenious ways to keep initiatives moving forward in the face of unexpected obstacles associated with the global pandemic. In light of unprecedented challenges both business and society faced this year, some of the top-ranked projects include pandemic-related projects such as Iceland Contact Tracing, Learning Passport, and the U.S. Digital Response Launch. In addition to the main Top 50 list, PMI released 30 lists recognizing the Top 10 most influential projects in a variety of regions and industries. In total, the lists include more than 250 breakthrough efforts, highlighting progress made in long-standing innovative projects in transportation, renewable energy, architecture, technology, and more.

“We live in a world of change and uncertainty - and COVID-19 has accelerated these trends with major shocks and disruptions to the world of business and society itself overnight,” said Sunil Prashara, President and CEO of Project Management Institute. “Our 2020 list of Most Influential Projects should give us hope that we can meet these challenges and make even the boldest ideas into reality. Against the most challenging of circumstances over the past year, the leaders and teams behind these innovative projects made hard decisions and challenged conventional thinking in order to make an impact. As we rebuild and move forward from these challenging times, it is going to take the creativity, collaboration, discipline, and determination exhibited in each of these projects to reimagine a better path forward.”

The project management community itself—including experts, volunteers, academics, and industry leaders from across the globe—provided input and recommendations for this year’s list. The pool of project candidates, which numbered in the thousands, was then vetted by a special PMI thought leadership team. The final list represents PMI’s vision of how project work and the change makers behind them represent the creative spirit shaping how the world collectively reimagines a new future, makes ideas and dreams reality, and as a result change the world.

Honorees include momentous triumphs such as building temporary hospitals in a matter of days, developing ventilators at rapid speed, and reimagining annual events for a digital world; in addition to highly impactful, but lesser-known victories such as Kangaroo Island Recovery in Australia and Dogger Bank Wind Farm in England’s North Sea. The top-ranked project is the COVID-19 Therapeutics Accelerator, a giant, global initiative tasked with identifying, accelerating and scaling potential COVID-19 treatments by coordinating research and development.

To view the complete list of projects and industry- and region-specific “Top 10” lists, visit pmi.org/most-influential-projects. The list is also featured in a special edition of the award-winning PM Network^® magazine.

The Top 50 Most Influential Projects*

1. COVID-19 Therapeutics Accelerator –For letting the science lead the funding on potential COVID-19 treatments
2. Iceland Contact Tracing – For halting COVID-19’s spread—and demonstrating an alternative to lockdown for the rest of the world
3. Learning Passport – For disrupting virtual education models to help underprivileged kids shut out of classrooms
4. COVID-19 Data Lake –For collecting—and organizing—a deluge of virus insights
5. Wolfsburg Plant Reopening – For creating a COVID-era reentry roadmap
6. AZD1222 SARS-CoV-2 – For blazing a trail in the pursuit of a COVID-19 vaccine
7. Tokyo 2020^® Olympic Games – For showing how to press pause on a major event
8. U.S. Digital Response Launch – For mobilizing tech talent to help local governments solve problems
9. Nightingale Hospital London – For creating a COVID-19 emergency care center in just nine days
10. Shanghai Fashion Week™ – For proving that even during a global pandemic, the show (and the sales) must go on
11. Kangaroo Island Recovery – For responding to epic wildfires—and rescuing an Australian ecosystem
12. Tesla™ Gigafactory Shanghai – For setting up the first foreign-owned auto factory in China at warp speed
13. UpLink™ – For creating a practical platform to achieve the U.N. Sustainable Development Goals
14. Trolls World Tour™ – For rethinking movie distribution—delighting families and disrupting Hollywood
15. Power of Siberia – For pumping new energy into the natural gas industry while forging superpower polar bonds
16. Disney+™ – For magically carving out a place in the world of streaming
17. Solar Orbiter – For offering a new view of the sun
18. Hudson Yards^® – For rethinking the mixed-use urban neighborhood in one of the world’s largest cities
19. Curie – For improving bandwidth in South America
20. Dangote Refinery – For fueling Nigeria’s economic transformation from importer to self-sustaining powerhouse
21. Locust Impact Tool Kit – For using data to protect threatened food supplies in East Africa and beyond
22. Galaxy Fold™ – For reshaping the smartphone expectations
23. Sardar Patel Stadium – For designing a fan-focused cricket ground
24. Woven City – For prototyping a fully autonomous world
25. Parasite – For breaking barriers in filmmaking—financially and culturally
26. Sydney Metro – For transforming transportation in Australia’s largest city
27. Travis Scott’s Astronomical – For turning a gaming platform into a global stage
28. Bridge Ventilator – For shifting trajectories to quickly deliver a new kind of emergency medical equipment
29. Fuliza – For solving mobile customers’ short-term cash needs
30. Amazon™ Air Hub – For breaking new ground in e-commerce with a US$1.5 billion effort to command the skies
31. Notre Dame Cathedral Restoration – For taking the first steps to raise a landmark from the ashes—with care and precision
32. Keep Kids Learning Pilot – For adjusting on the fly to get students the supplies they need
33. Dogger Bank Wind Farm – For helping the United Kingdom step toward a carbon-neutral future
34. International Thermonuclear Experimental Reactor – For boldly exploring next-gen nuclear energy
35. Libra™ – For pushing digital currency into the mainstream
36. National Convalescent Plasma Project – For joining forces to quickly test a COVID-19 treatment
37. Sheikh Jaber Al-Ahmad Al-Sabah Causeway – For building a bridge to Kuwait’s future
38. Some Good News™ – For giving us something to smile about in lockdown and providing DIY video production can be world-class
39. Chollian-2B – For creating an orbiting eye satellite to track pollution
40. Animal Crossing: New Horizons – For offering gamers community when they needed it most
41. Sycamore™ – For taking a quantum leap into the unknown
42. Mjøstårnet – For using wood to reach the sky
43. Campos del Sol – For helping Chile turn away from fossil fuels and toward carbon neutrality
44. Micra^® AV – For upgrading the world’s smallest pacemaker—without skipping a beat
45. Beijing Daxing International Airport – For creating the world’s largest terminal, poised to help China rebuild its tourism industry
46. Creatable World™ – For listening to kids asking for a more inclusive way to play
47. Al-Shera’a – For raising the net-zero bar on government buildings
48. Plant-for-the-Planet™ App – For using technology to gamify and accelerate reforestation
49. Capital City Relocation Plans – For plotting out a new political nerve of Indonesia—a smarter and greener one
50. ReRun – For helping companies use data to bring people back to the office—safely

Visit the Region-Specific Top 10 Most Influential Projects Lists

• Africa’s Top 10 Most Influential Projects
• Asia Pacific’s Top 10 Most Influential Projects
• Canada’s Top 10 Most Influential Projects
• China’s Top 10 Most Influential Projects
• Europe/United Kingdom’s Top 10 Most Influential Projects
• India’s Top 10 Most Influential Projects
• Latin America’s Top 10 Most Influential Projects
• Middle East’s Top 10 Most Influential Projects
• North America's Top 10 Most Influential Projects

*All product names, logos, and brands are the property of their respective owners.

About Project Management Institute (PMI)

Project Management Institute (PMI) is the world's leading association for those who consider project, program or portfolio management their profession. Through global advocacy, collaboration, education and research, we work to prepare more than three million professionals around the world for The Project Economy: the coming economy in which work, and individuals, are organized around projects, products, programs and value streams Now 50 years in the making, we work in nearly every country around the world to advance careers, improve organizational success and further mature the project management profession through globally-recognized standards, certifications, communities, resources, tools, academic research, publications, professional development courses and networking opportunities. As part of the PMI family, ProjectManagement.com^® interactive website creates online global communities that deliver more resources, better tools, larger networks and broader perspectives. Visit us at www.PMI.org, www.projectmanagement.com, www.facebook.com/PMInstitute and on Twitter @PMInstitute

Media Contact:
Drew Pradeep
Tel: 610-416-6023
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PERRYSBURG, Ohio--(BUSINESS WIRE)--#distribution--The Miner Corporation, a leading national provider of docks, doors and warehouse solutions has acquired Warehouse Technology, Inc. Warehouse Technology expands Miner’s service footprint into the mid-Atlantic region including New Jersey, Pennsylvania and Delaware.

For nearly thirty years, Warehouse Technology Inc. has been a leading designer, installer and service provider for docks, doors and warehouse safety solutions. President and CEO Mike Struempfler says, “We are excited to join the Miner team. Facility leaders desire providers that can offer consistent equipment design, installation and service nationwide. Miner allows us to deliver on that, as well as expand our offerings to our current customer base.”

Miner, an OnPoint Group company, has served facilities with the “Done Right, Right Now” mantra since 1967. Dave Wright, President of Miner LLC, said, “The Warehouse Technology Inc. team expands our footprint into key markets on the east coast. In addition, their team has deep expertise and strong customer relationships. We are excited to augment them with the MinerCare technology platform and national service footprint.” This acquisition builds on Miner’s expansions into the Midwest in 2019 with the additions of Star Equipment and MHC Systems.

Supply chains are more complex than ever. To address this, distributors, retailers, manufacturers and property managers are looking to outsource critical but non-core facility services like docks and doors. Miner’s national network of 38 branches across 28 states provides safer, higher uptime equipment at the lowest total cost to meet this growing need for Fortune 5000 customers.

For additional information about Miner and Warehouse Technologies, visit www.minercorp.com or www.onpointgroup.com/mergers-acquisitions.

About The Miner Corporation

Miner is North America’s facility expert, driving safety at your loading dock and uptime for your facilities through a suite of MinerCare maintenance programs and construction services. Miner provides service for all leading brands of commercial doors, load docks, entry doors, glass, material handling equipment as well as safety and storage solutions. Miner is a subsidiary of OnPoint Group, a leading, independent provider of material handling and critical facility services nationwide (www.onpointgroup.com).

About Warehouse Technology, Inc.

Warehouse Technology is a leading distributor, installer and manager of loading docks, doors, warehouse storage and safety systems for more than 30 years. Based in Delaware, Warehouse Technology is a leading Blue Giant distributor in the United States and boasts a team of sales engineers and technicians with deep expertise solving facilities’ throughput, safety and space constraints.

Kirk Yosick
General Counsel & Chief Administrative Officer
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567-336-9764

SAN ANTONIO--(BUSINESS WIRE)--Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (NASDAQ:AXAS) today announced that on November 2, 2020 it received a confirmation letter from The NASDAQ Stock Market LLC ("NASDAQ") that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum average closing price of $1.00 per share over a period of 10 consecutive trading days. The letter also confirms that Nasdaq is closing the non-compliance matter.

Abraxas Petroleum Corporation is a San Antonio based crude oil and natural gas exploration and production company with operations across the Rocky Mountain and Permian Basin regions of the United States.

Safe Harbor for forward-looking statements: Statements in this release looking forward in time involve known and unknown risks and uncertainties, which may cause Abraxas’ actual results in future periods to be materially different from any future performance suggested in this release. Such factors may include, but may not be necessarily limited to, changes in the prices received by Abraxas for crude oil and natural gas. In addition, Abraxas’ future crude oil and natural gas production is highly dependent upon Abraxas’ level of success in acquiring or finding additional reserves. Further, Abraxas operates in an industry sector where the value of securities is highly volatile and may be influenced by economic and other factors beyond Abraxas’ control. In the context of forward-looking information provided for in this release, reference is made to the discussion of risk factors detailed in Abraxas’ filings with the Securities and Exchange Commission during the past 12 months.

Steve Harris/Vice President – Chief Financial Officer
Telephone 210.490.4788
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www.abraxaspetroleum.com

Developed with Cannabis Business Times, the report underscores cultivators’ growing confidence in LED capabilities

AUSTIN, Texas--(BUSINESS WIRE)--Fluence by OSRAM (Fluence), a leading global provider of energy-efficient LED lighting solutions for commercial cannabis and agriculture production, today released findings from the fifth annual “State of the Cannabis Lighting Market” report produced in partnership with Cannabis Business Times, whose mission is to accelerate the success of legal cannabis cultivators.

The fifth installment of the report reinforces Fluence’s ongoing commitment to exploring the interaction between light and life through market research and in-depth scientific study. The report unveils insights from cultivators throughout North America surveyed by Readex Research, a nationally recognized, third-party research house.

In his opening remarks for the 2020 report, Fluence CEO David Cohen notes the year-over-year rise in LED adoption and “that more growers are placing greater emphasis on scientific research to support product development.”

Revealing tripled LED usage across all stages of cultivation over the last five years, this year’s report reflects on the evolving and maturing cannabis market through yearly comparisons and supporting insights from leading researchers and commercial cannabis cultivators. Key findings include:

• LED usage is the preferred lighting method among cultivators across cultivation stages, with more than 50 percent of respondents reporting LED lighting usage in propagation, vegetation and flowering.
• “Light spectrum” moved to the No. 1 most important factor when purchasing a lighting fixture—tied with light intensity.
• A greater number of cultivators measure how much light their crops receive—72 percent in 2020 compared to 55 percent in 2016.
• 17 percent of cultivators said that ensuring consistent, even lighting across crops is a top operational challenge.

The report’s subsequent insights from commercial growers and industry researchers emphasize the criticality of choosing and implementing a lighting strategy that optimizes plant quality, yield and operational efficiency.

"We’ve worked with LED technology for several years now and its benefits have become increasingly apparent throughout each crop cycle,” David Bernard-Perron, vice president of growing operations for The Green Organic Dutchman (TGOD), a leading producer of premium certified organic cannabis. “With LEDs, we have greater control over our entire cultivation system, allowing us to reorganize and optimize the workflow in our vegetative area, significantly increase our facility’s overall efficiency and to stack crops vertically, increasing production surface area. Most importantly, we are cultivating some of our most beautiful, high-quality plants under broad spectrum LED technology.”

The full report—which includes more information on Bernard-Perron’s light intensity research at TGOD as well as a full interview describing Denver-based LivWell’s LED retrofit process—is available on the Fluence website and in Cannabis Business Times’ November issue. For more information on Fluence, visit www.fluence.science.

About Fluence by OSRAM

Fluence Bioengineering, Inc., a wholly-owned subsidiary of OSRAM, creates powerful and energy-efficient LED lighting solutions for commercial crop production and research applications. Fluence is a leading LED lighting supplier in the global cannabis market and is committed to enabling more efficient crop production with the world’s top vertical farms and greenhouse produce growers. Fluence global headquarters are based in Austin, Texas, with its EMEA headquarters in Rotterdam, Netherlands. For more information about Fluence, visit https://fluence.science.

For Fluence,
Emma Chase
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512-917-4319

SALT LAKE CITY--(BUSINESS WIRE)--International law firm Dorsey & Whitney LLP announced today that Alison Garner has joined the Firm as a Senior Attorney in its Regulatory Affairs Group in Salt Lake City. Ms. Garner joins Dorsey after over a decade of public service in both the Utah Attorney General’s Office and the U.S. Department of Justice.

While at the Utah Office of the Attorney General, Ms. Garner served as lead counsel defending the State of Utah in federal litigation involving land, water, and Native American issues. She represented multiple state agencies, boards, and commissions and advised on a variety of matters, including contracts, procurement, and other general counsel work. In addition, Ms. Garner conducted annual training for clients on compliance with state laws, policies, and procedures regarding open meetings, records access, and public ethics.

Prior to joining the Utah Office of the Attorney General, Ms. Garner was a trial attorney with U.S. Department of Justice, Environment and Natural Resources Division in Washington D.C. where she represented various federal agencies in complex litigation arising under the federal environmental and natural resources laws. Specifically, Ms. Garner represented federal agencies in cases alleging violation of the National Environmental Policy Act (NEPA) and other statutes in land use planning and project approval decisions. She served as lead counsel on numerous cases defending the Forest Service’s approval of various projects and permits.

Ms. Garner has a J.D. degree from University of Utah, S.J. Quinney College of Law and earned the Patrick O’Hara Honor’s Fellowship, which provides a two-year opportunity to work in the Natural Resources Division of the Utah Attorney General’s Office.

“Alison is a remarkable attorney and public servant whose experience in government and private practice makes her an ideal fit with Dorsey’s robust Energy & Natural Resources Group,” noted Wells Parker, Partner and Co-Chair of Dorsey’s Energy & Natural Resources industry group. “She has the specialized legal expertise to handle the litigation needs of our energy and natural resource clients.”

About Dorsey & Whitney LLP
Clients have relied on Dorsey since 1912 as a valued business partner. With locations across the United States and in Canada, Europe and the Asia-Pacific region, Dorsey provides an integrated, proactive approach to its clients' legal and business needs. Dorsey represents a number of the world's most successful companies from a wide range of industries, including leaders in banking & financial institutions, development & infrastructure, energy & natural resources, food, beverage & agribusiness, healthcare and technology, as well as major non-profit and government entities.

Jeri Longtin-Kloss
612.492-5315
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Latest version of well master data management solution furthers how E&P companies can rationalize and integrate data for better business outcomes

HOUSTON--(BUSINESS WIRE)--Quorum Software (Quorum), a Thoma Bravo portfolio company and the leader in digital transformation for the oil and gas industry, announced today that it has released 2020.1 of EnergyIQ by Quorum Software (EIQ), a well master data management solution. By working closely with leading E&P companies, Quorum delivers a robust and flexible data platform that accelerates digitalization initiatives and provides a 360-degree view of a well.

EIQ provides a full suite of master data management tools for managing and integrating internal and external data sources -- including land, accounting, drilling and completion, and document management solutions -- to support various business needs. E&P companies standardizing operations on a Quorum-EIQ combination will shorten time to value by leveraging pre-defined integration capabilities, while also gaining access to a growing assortment of bi-directional automation capabilities.

“In addition to numerous enhancements, this update helps set the foundation for executing Quorum’s larger vision to help Upstream companies reimagine how they operate,” said Tyson Greer, Executive Vice President & Chief Product Officer at Quorum. “From data and workflow integrations and automation to advanced visualizations, analytics and mapping capabilities, customers will benefit from our aggressive investment in helping manage the business by relying on a centralized and trusted source of data.”

The update includes dashboard capabilities, UI and map enhancements, and new visualizations through industry-first integrations with Quorum’s upstream suite. The coupling of Quorum’s applications with EIQ will help customers:

• Make better drilling, completion, and workover decisions by connecting the well master with Quorum’s transactional, operational and accounting solutions.
• Streamline access to relevant well information, including lease, well files, and other documents stored in DynamicDocs and direct linkage to the WellEz wellbore diagram.
• Better understand their current assets by pulling in GIS and Land information from Quorum and displaying via EIQ’s native visualizations.

As part of Quorum’s ongoing efforts to help energy companies simplify and automate data management challenges, the company will hold a webcast on November 18^th, in partnership with Ember Resources, to demonstrate how operators are applying advanced search technology to integrate their suite of well lifecycle applications and deliver a 360-degree view of the well. Learn more and register here: https://www.ogj.com/home/webinar/14185454/mastering-a-360-degree-view-of-the-well-insights-from-concho-and-ember

About Quorum Software

Quorum Software offers an industry-leading portfolio of finance, operations and accounting solutions that empower our customers to streamline operations that drive growth and profitability across the energy value chain. From supermajors to startups, from the wellhead to the city gate, energy businesses rely on Quorum. Designed for digital transformation, the myQuorum software platform delivers open standards, mobile-first design and cloud technologies to drive innovation. We’re helping visionary leaders transform their companies into modern energy workplaces. For more information, visit www.quorumsoftware.com.

Media:
Jenna Billings
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978-618-8424

Helping Hand program provides expedited, one-time grants of up to $300 per residential customer to help with past-due balances

CHICAGO--(BUSINESS WIRE)--To provide immediate aid to eligible customers most in need during the ongoing COVID-19 pandemic, ComEd announces a new program, Helping Hand. For a limited time, this financial-assistance program provides an additional one-time grant of up to $300 to help low- income residential customers, and those who express financial hardship, reduce past-due balances.

“As the number of COVID-19 cases increases throughout northern Illinois, we understand that the pandemic continues to create significant financial hardship for many of our customers,” said ComEd CEO Joe Dominguez. “That’s why we continue to evaluate and find new ways – like our new Helping Hand program – to support customers and communities most in need.”

Assistance through the Helping Hand program will be administered directly through ComEd, which expedites the verification process so that customers can receive grants more quickly. Residential customers can apply for Helping Hand grants at ComEd.com/PaymentAssistance.

Helping Hand is the latest in a number of assistance options ComEd has developed since the pandemic to help customers, including a $18 million bill-payment assistance program announced earlier this summer.

ComEd has continued the suspension of service disconnections for low-income customers and those who express a financial hardship through March 31, 2021. For other customers, it’s important that they continue to stay current to avoid higher past-due balances into the spring that will be harder to address.

ComEd’s bill-assistance programs also include 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.

ComEd worked with the Illinois Attorney General’s office, the staff of the Illinois Commerce Commission and a broad group of stakeholders in June to offer the following customer-assistance options that are available for a limited time:

• Bill Assistance for Eligible Low-Income Customers. To help LIHEAP-qualified customers with past-due balances, ComEd will provide additional bill assistance – up to $500 – for eligible, low-income households earning 200 percent or less of the federal poverty level. For information or to apply for LIHEAP, visit HelpIllinoisFamilies.com.
• More Flexible Payment Arrangements. Under the comprehensive support package, ComEd offers eligible residential customers payment plans of up to 18 installment payments with a 25-percent down payment. Limited-income residential customers and those facing financial hardship can spread amounts they owe over 24 installment payments with no down payment.

These customer assistance options supplement the extensive relief that ComEd already offers customers in need, including:

• Flexible Payment Options. These include budget billing, which averages payments over a 12-month period to help customers manage their monthly energy bills.
• CARE Financial Assistance Grants. For customers who struggle to cover energy expenses, ComEd offers a wide range of financial assistance programs.

ComEd also offers usage alerts and energy-management tips to help customers manage energy use to save money now and on future energy bills. For more information, visit ComEd.com/OnlineTools.

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

DURHAM, N.C.--(BUSINESS WIRE)--#energyfinance--Cypress Creek Renewables today announced that it has closed a seven-year, $200 million debt financing for the holding company that owns Cypress Creek’s 1.6 gigawatt (GW) portfolio of operating solar energy projects. The facility finances a portfolio comprised of more than 200 solar and storage projects across 13 states.

Rebecca Cranna, Chief Operating Officer and Chief Financial Officer for Cypress Creek said: “This new debt facility marks a key milestone on our path to growing our company, and it provides us with the flexibility to own assets where we see strategic value. These funds strengthen our ability to maintain Cypress Creek’s position as a leading integrated renewable energy company in the U.S.”

Investec Power and Infrastructure Finance – North America (Investec) acted as sole bookrunner, coordinating lead arranger, and administrative agent on the transaction.

Michael Pantelogianis, Co-Head of Investec Power and Infrastructure Finance, North America, commented: “The Cypress Creek Renewables financing illustrates our ability to structure bespoke solutions for clients. We started with a fresh palette and came up with a tailored solution that was well-received by the market.”

Ralph Cho, Co-Head of Investec Power and Infrastructure Finance, North America, commented: “The market is wide open for well-priced, well-structured ESG class assets across all levels of the capital stack from a variety of lenders. We oversubscribed the financing 2.0x from a combination of both commercial banks and institutional investors that directly demonstrates this appetite.”

In addition to Investec, other joint lead arrangers for the transaction included Credit Agricole, East West Bank, and Silicon Valley Bank. Cypress Creek was represented by Kirkland & Ellis LLP as its lead transaction counsel. The lenders were represented by Milbank as transaction counsel.

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.

About Investec

Investec partners with private, institutional and corporate clients to offer international banking, investments and wealth management services in two principal markets: South Africa and the UK, as well as certain other countries. The group was established in 1974 and currently has approximately 8,300 employees. In 2002, Investec implemented a dual listed company structure with listings on the London and Johannesburg Stock Exchanges. In March 2020, the Asset Management business was demerged and separately listed as Ninety One.

This press release is issued on behalf of Investec Bank plc. Registered address: 30 Gresham Street, London, EC2V 7QP. (Reg No. 489604).

Investec Bank plc (Reg. no. 489604) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

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Luke O’Mahony for Investec
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Davina Rooney, GBC Australia, and Mona Naqvi, S&P Dow Jones Indices join governing body

NEW YORK--(BUSINESS WIRE)--#WeAreWELL--The International WELL Building Institute (IWBI) announced today the appointment of Davina Rooney, chief executive officer of the Green Building Council of Australia and Mona Naqvi, senior director of ESG at S&P Dow Jones Indices to the IWBI Governance Council. Comprised of key global thought leaders, public health professionals and business executives, the Governance Council helps uphold the integrity of IWBI’s certification frameworks and accelerates the broader movement driving their adoption.

“We’re deeply honored to have individuals with such extraordinary expertise that correlates to what’s next for the WELL movement,” said Rick Fedrizzi, executive chairman of IWBI. “The outstanding roster of our Governance Council represents WELL’s strong grounding in scientific evidence, its relevance across industries and sectors and its commitment to the health and well-being of people.”

Recognizing that human health is inextricably linked to the health of our planet, Rooney brings extensive expertise in the green building space to the council. GBCA was fundamental to the early adoption of the WELL Building Standard (WELL) in Australia, now the country with the greatest market saturation globally. Rooney is widely recognized as a global sustainability leader and has championed the local implementation of the Task Force on Climate Related Financial Disclosure (TCFD) and transformation of Australia's residential building stock during her time as general manager of sustainability at Stockland - one of Australia's largest diversified property development companies.

“I am honoured to join the IWBI Governance Council and excited to see the impact that the recently launched WELL v2 will have in the market,” said Rooney. “Our remit couldn’t be any more important or urgent than it is right now, as we come together to help in the fight against COVID-19 and work to ensure our buildings focus on better health outcomes for people.”

Naqvi’s experience in leading strategy for developing ESG (Environmental, Social, Governance) indices for the North American market will be critical as IWBI works to bridge the gap between a holistic understanding of public health and its significance to the market, especially as the COVID-19 pandemic’s economic impact has underscored the relationship between population health and the economy. Health data is now being recognized as a pivotal piece of ESG reporting, and it will only play an increasingly important role in how companies and shareholders assess where to invest in the years to come.

“It's an honor to join the Council and be involved with this esteemed group, and to do so at such a critical moment when public health is squarely a priority for us all,” said Naqvi. “I've been so impressed with how IWBI has been leading throughout this crisis, embracing collaboration and bringing together diverse stakeholders, to ensure solutions are shared and widespread across the globe. This collaborative ethos is making all the difference. Particularly now, more than ever, as we strive to integrate human health in the built environment, company business models, and investment frameworks that will shape the future of financial performance.”

Naqvi and Rooney join global members of the IWBI Governance Council, including:

• Amit Bouri, co-Founder and CEO, Global Impact Investing Network
• Richard Carmona, 17th Surgeon General of the United States
• Rachel Gutter, president & CEO, IWBI
• Stephen Huddart, president & CEO, the J.W. McConnell Family Foundation
• Risa Lavizzo-Mourey, M.D., PIK Professor of Health Equity and Health Policy, University of Pennsylvania and former president and CEO of the Robert Wood Johnson Foundation
• Avinash Rajagopal, Editor-in-Chief, Metropolis
• Nancy Roman, president and CEO, Partnership for a Healthier America
• Raymond Yau, general manager, Technical Services & Sustainable Development, Swire Properties

Formally constituted in February 2020, the Governance Council most recently convened to vote on the graduation of WELL v2 out of pilot stage, which launched publicly in September.

About the International WELL Building Institute

The International WELL Building Institute (IWBI) is leading the global movement to transform our buildings, communities and organizations in ways that help people thrive. It focuses exclusively on the ways that buildings and communities, and everything in them, can improve our comfort, drive better choices, and generally enhance, not compromise, our health and wellness. WELL v2 is the most recent version of its popular WELL Building Standard (WELL), and the WELL Community Standard pilot is a district scale rating system that sets a new global benchmark for healthy communities. The WELL Health-Safety Rating is an evidence-based, third-party verified rating for all facility types, focused on operational policies, maintenance protocols, emergency plans and stakeholder education to address a post-COVID-19 environment now and broader health and safety-related issues into the future. IWBI mobilizes the wellness community through management of the WELL AP credential, the pursuit of applicable research, the development of educational resources, and advocacy for policies that promote health and wellness everywhere. IWBI is a participant of the United Nations Global Compact, the world’s largest corporate citizenship initiative, and helps companies advance the UN Sustainable Development Goals (SDGs) through the use of WELL. More information on WELL can be found here.

International WELL Building Institute, IWBI, the WELL Building Standard, WELL v2, WELL Certified, WELL AP, WELL Portfolio, WELL Portfolio Score, The WELL Conference, We Are WELL, the WELL Community Standard, WELL Health-Safety Rating, WELL Health-Safety Rated, WELL Workforce, WELL and others, and their related logos are trademarks or certification marks of International WELL Building Institute pbc in the United States and other countries.

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DENVER--(BUSINESS WIRE)--Guzman Energy, a wholesale power provider based in Colorado, has hired Andrew Heinle to serve as Managing Director of Origination. Heinle will be based out of South Dakota and responsible for the origination of power supply contracts, power purchase agreements, expanding existing business and identifying new market opportunities throughout the country.

Heinle comes to Guzman with more than 20 years’ experience in energy trading and management, including most recently serving as the executive vice president of origination for Arevon Energy Management where he led the company’s structured renewable energy solutions across the nation. Prior to his position at Arevon Energy, Heinle worked as the manager of origination for Tenaska Power Services where he helped build their WECC trading and management business including two landmark deals in Nevada that assisted MGM Resorts and Caesars Entertainment exit from NV Energy.

“I am really looking forward to joining the dynamic team at Guzman that is leading the industry in helping cooperatives build their power supply future,” said Heinle.

“Andrew has exactly the experience we need to bring more cooperatives better options for their future power contracts,” said Chris Miller, President of Guzman Energy. “As we enter new markets and seek to help power customers transition to local control, Andrew will be instrumental in helping Guzman continue to grow.”

In addition to his recent experience, Heinle has held positions at Black Hills Power, Midwest ISO, and the Mid-Continent Area Power Pool. He holds a bachelor’s degree in Business Management from Indiana Wesleyan University, and an associate degree in Power Plant Technology from Bismarck State College.

About Guzman Energy

Guzman Energy is a full-service wholesale power provider focused on providing market-based solutions to address our customers’ energy challenges by delivering reliable, clean and affordable power. We work closely with communities to identify their initial and ongoing energy goals and customize solutions based on increased economic competitiveness and sustainability. Our platform is leading a transformation from the legacy energy economy to the renewable and distributed age. To learn more, visit www.GuzmanEnergy.com.

Jill Petersen for Guzman Energy
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206-683-5225

SIMI VALLEY, Calif.--(BUSINESS WIRE)--$AVAV--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced that Wahid Nawabi, president and chief executive officer; Kevin McDonnell, senior vice president and chief financial officer; and Steven Gitlin, chief marketing officer and vice president of investor relations, will present virtually at the Baird Global Industrial Conference on Thursday, November 12, 2020 at 12:45 p.m. PT / 3:45 p.m. ET.

A live audio webcast of the presentation will be available in the Events and Presentations section of the AeroVironment website at https://investor.avinc.com/events-and-presentations. A replay of the webcast will be available for 90 days.

About AeroVironment, Inc.

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can proceed with certainty. Celebrating 50 years of innovation, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves defense, government and commercial customers. For more information, visit www.avinc.com.

Safe Harbor Statement

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products and uncertainty in the customer adoption rate of such products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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AeroVironment, Inc.
Makayla Thomas
+1 (805) 520-8350
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SAN JOSE, Calif.--(BUSINESS WIRE)--Bedrock Automation, maker of Bedrock OSA®, the world’s most powerful and secure automation platform, announced that an upstream service provider has implemented a Bedrock OSA Remote secure control node in a fracking water transfer application. The Bedrock control nodes replace traditional PLCs to synchronize and monitor water pumping across three to ten miles of remote desert terrain. The application has increased operational efficiency by over 50 percent and improved the ability to spot and prevent water loss through leakage.

Fracking a well in the Permian Basin can require up to 42 million gallons of water. Getting so much water from identified sources to a well often involves synchronized operation of multiple large diesel pumps spread out over the entire length of the transfer line. The pumps must be started and brought up to operating speed in series and then ramped down in series to a stop every few hours. The process is repeated around the clock with each stage of the fracking operation, which can run for several weeks.

“Having sufficient water available and delivering it reliably to the frac location is a critical piece of the supply chain in completing a new well. Setting up the projected water supply typically takes between two and eight weeks. It involves scouting water sources, negotiating rights-of-way with landowners, installing temporary or permanent piping, storing it in large membrane-lined containment ponds or tanks, and pumping the water to the wellsite,” said Reed Taylor, founder and CEO of FLOWPOINT Water Solutions, a Midland, Texas-based water management firm serving the Permian Basin.

For most of today’s transfer services, operating these pumps manually involves deploying field operators to monitor each pump, start or stop them as required, and spot and fix leaks. Seeking to improve water transport efficiencies, Taylor enlisted the services of automation integration firm Flow-Sync, a Texas-based automation supplier that provides specialty skid-based water transfer pump control solutions for water fracking applications.

The Flow-Sync application-integrates flow calculation software, the Bedrock cyber secure automation platform, cloud-based data storage and analytics, and a SCADA interface through which operators can interact with the system from anywhere via the internet. It deploys the Bedrock OSA Remote control nodes in the wiring cabinet of self-contained, portable skids. They are wired to the pumps so that the entire transfer operation can be monitored and controlled from any location.

“We especially liked the fact that the cyber security is built-in. Our application is sensitive to interruptions to the data communications within our automation system. Having a system designed to resist current and future security threats is one reason we've chosen the Bedrock OSA Remote over other options,” said Harry Browne, CEO of Flow-Sync.

Enabling users to interact with the automation system is Ignition SCADA software from Inductive Automation. The Ignition server integrates with the Bedrock controls and the AWS cloud, where Amazon Elastic Compute Cloud EC2 servers host an SQL database. This IIoT architecture is fully scalable in terms of processor memory and disk storage. The OPC UA connection with the Bedrock OSA Remote extends the secure PLC architecture to remote locations via TCP/IP.

“Operators can see the big picture, which is significant when most of our work is in remote areas. If you are trying to start up multiple pumps at once or bring things up or down in series without exceeding pressures or overfilling pit levels, having access to real-time information to support your decision making is invaluable. Or maybe your tanks are getting low and you need to increase the speed of your pumps to boost the supply, you can see exactly what you need to do and the impact of your adjustment. This is IIoT the way it’s meant to be,” said Browne.

A complete IIoT solution

By automating water transfer, the FLOWPOINT/Flow-Sync application boosts operator productivity in at least the following ways:

• Real-time visibility into all operations to monitor multiple pumps remotely, giving each person control over a larger portion of the water transfer operations.
• Automatic leak detection, alarming and intervention, avoiding costs related to lost water, system downtime, clean-up costs, and potential fines.
• Reduced administrative costs in managing and reporting on water inventory and costs while also improving accuracy.
• Improved transfer design improves efficiency and reduces energy costs, which could be the highest cost variable for most transfer operations.

Download the complete, illustrated case history here.

About Bedrock Automation

Bedrock Automation, based in San Jose, California, has developed the world’s most powerful and cyber secure automation platform. This Silicon Valley company has assembled the latest technologies and talents from the automation, cyber security and semiconductor industries to build unprecedented automation solutions for industrial control and power based on three prime directives: simplicity, scalability and security. The result is an award-winning automation platform called Open Secure Automation (OSA®), with revolutionary architecture and deeply embedded ICS cyber security that delivers the highest levels of system performance, cyber security and reliability at the lowest lifecycle cost. Build on Bedrock®!

For more information about Bedrock Automation visit Bedrock Automation.

Press:
Bedrock Automation
John Nero
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401-486-3120

HOUSTON--(BUSINESS WIRE)--Geospace Technologies (NASDAQ: GEOS) today announced that it will release fiscal year 2020 financial results on Thursday, November 19, 2020 after the market closes. In conjunction with the release, Geospace has scheduled a conference call for Friday, November 20, 2020 at 10:00 a.m. Eastern Time (9:00 a.m. Central).

For those who cannot listen to the live call, a replay will be available for approximately 60 days and may be accessed through the Investor Relations tab of our website: www.geospace.com.

Geospace principally designs and manufactures seismic instruments and equipment. We market our seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon producing reservoirs. We also market our seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. We design and manufacture other products of a non-seismic nature, including water meter products, imaging equipment and offshore cables.

Contact: Rick Wheeler
President & CEO
TEL: 713.986.4444
FAX: 713.986.4445

DUBLIN--(BUSINESS WIRE)--The "Global Yacht Painting and Maintenance Market 2020-2024" report has been added to ResearchAndMarkets.com's offering.

The yacht painting and maintenance market is poised to grow by $ 123.95 mn during 2020-2024, progressing at a CAGR of 5% during the forecast period.

This report on yacht painting and maintenance market provides 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, latest trends and drivers, and the overall market environment.

The market is driven by the growth in tourism and recreational events, rise in demand for superyachts, and the development of fire-retardant coatings. In addition, growth in tourism and recreational events is anticipated to boost the growth of the market as well.

This study identifies the augmented demand for yacht chartering services as one of the prime reasons driving the yacht painting and maintenance market growth during the next few years. Also, the use of high-resolution microscopy to detect faults and damages and growth in the number of HNWIs will lead to sizable demand in the market.

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading yacht painting and maintenance market vendors that include Bonsink Yacht Painters BU, Chi Yacht Refinishing, Coastal Yacht Services, GYG PLC, Hempel AS, Nautipaints, Thraki Yacht Painting GmbH, Tjeerdsma Jachtschilders - schilderwerken, Yacht Protect LLC, and Yachting Protection Ltd.

Also, the yacht painting and maintenance market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

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.

Key Topics Covered:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Application

• Market segments
• Comparison by Application
• Refurbished yachts - Market size and forecast 2019-2024
• New yachts - Market size and forecast 2019-2024
• Market opportunity by Application

Customer Landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor Landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Bonsink Yacht Painters BU
• Chi Yacht Refinishing
• Coastal Yacht Services
• GYG PLC
• Hempel AS
• Nautipaints
• Thraki Yacht Painting GmbH
• Tjeerdsma Jachtschilders - schilderwerken
• Yacht Protect LLC
• Yachting Protection Ltd.

Appendix

For more information about this report visit https://www.researchandmarkets.com/r/z34zee

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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MIDLAND, Texas--(BUSINESS WIRE)--Ring Energy, Inc. (NYSEAM: REI) (“Ring”) (“Company”) announced today financial and operational results for the third quarter ended September 30, 2020.

Q3 2020 Highlights

• Increased net oil & gas sales by 74.0% to 9,549 Boe/d (89% oil), compared to 5,487 Boe/d (86% oil) for Q2 2020
• Decreased LOE¹ by 38.5% to $8.88 million or $10.11/Boe, compared to $14.43 million or $14.03/Boe for Q3 2019
• Decreased cash G&A² by 34.6% to $1.93 million or $2.20/Boe, compared to $2.95 million or $2.87/Boe for Q3 2019
• Reported net loss of $1.96 million, or $0.03 per diluted share. Excluding the unrealized loss on derivatives and a non-cash charge for stock-based compensation, adjusted net income³ per diluted share is $0.05/share
• Adjusted EBITDA³ increased 44.6% to $19.9 million, compared to $13.7 million for Q2 2020
• Free cash flow (“FCF”) ³ increased 45.8% to $11.3 million, compared to $7.7 million for Q2 2020
• Reduced bank debt by $15.0 million, outstanding balance is $360 million
• Increased liquidity³ to $32.2 million
• Reduced capital spending by 79.9% to $4.3 million, compared to $21.4 million for Q3 2019
• Net realized gain on derivates of approximately $1.7 million

Q1-Q3 2020 Highlights and Subsequent Events

• Decreased LOE¹ by 25.8% to $24.72 million or $10.47/Boe during first nine months of 2020, compared to $33.3 million or $11.51/Boe for the same nine months of the prior year
• Decreased cash G&A² by 44.3% to $7.15 million or $3.03/Boe during first nine months of 2020, compared to $12.85 million or $4.44/Boe for the same nine months of the prior year
• Reported net loss of $93.2 million, or $1.37 per diluted share through September 30, 2020. Excluding the unrealized loss on derivatives, ceiling test write down and a non-cash charge for stock-based compensation, adjusted net income³ per diluted share is $0.21/share
• Generated adjusted EBITDA³ of $61.6 million through September 30, 2020
• Remained FCF³ positive for four consecutive quarters and generated over $27.0 million FCF³ through Q3 2020
• Reduced capital spending by 77.8% to $22.2 million during the first nine months of 2020, compared to $99.8 million for the same nine months of the prior year (excludes Wishbone acquisition in 2019)
• Net realized gain on derivates of approximately $18.8 million through September 30, 2020
• Announced appointment of Paul D. McKinney as Chief Executive Officer & Chairman of the Board
• Reorganized the Board of Directors by replacing three insiders with three independent Directors
• Raised ~$19.1 million in net proceeds further improving liquidity from public and registered direct offerings
• Posted a positive average operating margin⁴ of $20.60/Boe through September 30, 2020

Management Comments

Paul D. McKinney, Chief Executive Officer and Chairman of the Board, commented, “As commodity prices improved during the third quarter, Ring returned the majority of its previously shut-in wells to production and made excellent progress on our cost reduction initiatives begun earlier in the year. This, along with our hedges, significantly improved our financial results over the second quarter. Because we believe these pandemic-induced economic conditions are likely to continue for an extended period of time, we are putting our growth plans on hold, prioritizing our capital to high-return projects that improve liquidity, and aggressively managing our cost structure so that we can continue to generate free cash flow and pay down debt. We are fortunate that our production portfolio is characterized by the long-life and shallow declines of predominately the San Andres formation and the majority of our drilling inventory is economic in the current price environment giving us the sustainability and flexibility to meet the challenges that we are currently facing.”

Mr. McKinney continued, “During my short tenure here, I have seen firsthand the outstanding job our operations and field personnel have performed in an incredibly challenging environment. They have reduced our lease operating expenses on $/Boe basis by 20% over the prior quarter and 28% over the same three months of the prior year. Not only do I commend them for these achievements, but together, we are exploring additional cost saving and production enhancing ideas that we expect to be evident in future quarters.”

Other Financial Updates

Important to note - the third quarter of 2020 included a pre-tax unrealized loss on derivatives of $6,228,453 and a non-cash charge for stock-based compensation of $565,819. Excluding these items, the net income per diluted share would have been $0.05/share, versus the net loss of $(0.03)/share.

During the nine months ended September 30, 2020, the net income included a pre-tax unrealized gain on derivatives of $14,086,699, a pre-tax ceiling test impairment of $147,937,943 and a non-cash charge for stock-based compensation of $2,557,156. Excluding these items, the net income per diluted share would have been $0.19. The Company believes results excluding these items are more comparable to estimates provided by security analysts and, therefore, are useful in evaluating operational trends of the Company and its performance, compared to other similarly situated oil and gas producing companies.

Third quarter of 2020 the outstanding balance on the Company’s $1 billion senior credit facility was $360 million with a weighted average interest rate on borrowings under the senior credit facility of 4.5%. The next bank redetermination, originally scheduled for November 2020, was extended by the bank group to December 2020 to allow the Company to properly reflect recent cost reductions and operational efficiencies in the reserve information provided to the bank group.

In May 2020, the Company unwound the costless collars for June 2020 and July 2020. Concurrently, the Company entered Swap contracts at $33.24 for 5,500 barrels per day for June and July 2020, equal to the barrels for which the costless collars were unwound. Like costless collars, there is no cost to enter the Swap contracts. On Swap contracts, there is no spread and payments will be made or received based on the difference between WTI and the Swap contract price. The costless collar and Swap pricing do not take into consideration any pricing differentials between NYMEX WTI pricing and the price received by the Company.

2020 costless collars, in place for August through December 2020

2020 Swap, in place for July 2020

Third quarter of 2020, the Company entered derivative contracts for 2021 in the form of costless collars of NYMEX WTI Crude oil. The contracts are for a total of 4,500 barrels of oil per day for the period of January 2021 through December 2021. Again, the costless collar pricing does not take into consideration any pricing differentials between NYMEX WTI pricing and the price received by the Company.

2021 costless collars, in place for January through December 2021

Subsequent to September 30, 2020, the Company entered into Swap derivative contracts for 6,000 MMBTU/day for calendar year 2021 at a price of $2.991 per MMBTU and 5,000 MMBTU/day for calendar year 2022 at a price of $2.7255 per MMBTU.

Additional Operations Update

Third quarter of 2020 oil sales were 781,626 barrels (8,496 Bop/d), and gas sales volume were 581,123 MCF (6,317 mcf/d) (thousand cubic feet). On a barrel of oil equivalent (“BOE”) basis for the third quarter of 2020 production sales were 878,480 BOEs (9,549 Boe/d), compared to 499,333 BOEs (5,487 Boe/d) for the second quarter of 2020, a 75.9% increase.

The average price differential the Company experienced from WTI pricing in Q3’2020 was approximately $2.00.

Third quarter of 2020 Lease operating expenses (“LOE”) were $10.11 per BOE, production taxes $ 1.62 per BOE and ad valorem taxes $0.91 per BOE for total of $12.64 per BOE field level all in lifting cost. Depreciation, depletion and amortization costs, including accretion, were $12.59 per BOE, and general and administrative costs, which included a $565,819 charge for stock-based compensation were $2.84 per BOE. Operating lease expense (equipment/office leases) was $0.34 per BOE.

During the nine months ended September 30, 2020, lease operating expenses were $10.47 per BOE, production taxes $1.58 per BOE and ad valorem taxes $1.02 per BOE for total of $13.07 per BOE field level all in lifting cost. Depreciation, depletion, and amortization costs, including accretion, were $13.78 per BOE, and general and administrative costs, which included a $2,557,156 charge for stock-based compensation, were $4.11 per BOE. Operating lease expense (equipment/office leases) was $0.37 per BOE.

Subsequent Events Update

Changes occurred to executive management and to the Board of Directors. Mr. Lloyd T. Rochford resigned from his employment position of Executive Chairman and from the Board of Directors but will remain in an advisory capacity to Mr. Paul McKinney. Mr. Kelly Hoffman resigned as Chief Executive Officer and from the Board of Directors. Mr. Stanley McCabe resigned from the Board of Directors. Mr. David Fowler resigned from the Board of Directors but remains as President of the Company. Mr. Paul D. McKinney was appointed as Chairman of the Board and as Chief Executive Officer. Additionally, Mr. Thomas L. Mitchell, John A. Crum and Richard E. Harris were appointed to the Board as independent Directors.

The Company completed a public offering and concurrently completed a registered direct offering of common shares, pre-funded warrants, and common warrants. In total, the company issued 13,075,800 shares, 16,728,500 pre-funded warrants and 29,804,300 common warrants. Gross proceeds received at closing were approximately $20.8 million and net proceeds are anticipated to be approximately $19.1MM.

The previously announced plan to divest of Delaware Basin assets failed to close. The Company continues to attempt to work with the buyer, but the termination process has been initiated and unless an agreement can be reached, the contracts will terminate on November 12, 2020.

About Ring Energy, Inc.

Ring Energy, Inc. is an oil and gas exploration, development and production company with current operations in Texas and New Mexico.

www.ringenergy.com

Safe Harbor Statement

This release contains 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. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitations, statements with respect to the Company’s strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2019, its Form 10Q for the quarter ended September 30, 2020 and its other filings with the SEC. Readers and investors are cautioned that the Company’s actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company’s ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and the conduct of business by the Company, and other factors that may be more fully described in additional documents set forth by the Company.

David Fowler, President
Ring Energy, Inc.
(432) 682-7464

Bill Parsons
K M Financial, Inc.
(702) 489-4447