New CEO brings decades of International Technology Commercialization Experience

AUSTIN, Texas--(BUSINESS WIRE)--#Aerial--SeekOps Inc. develops and deploys advanced sensor technology for the energy sector to detect, localize, and quantify methane emissions through integrated drone-based systems. SeekOps’ unique sensor design eliminates false positive readings and localizes emissions sources to provide actionable data to oil and gas operators in the United States, Canada, Europe, and the Middle East. Backed by funding from the Oil and Gas Climate Initiative Climate Investments (OGCI-CI), and Equinor Technology Ventures (ETV), SeekOps provides best-in-class technology to meet increasingly stringent environmental, sustainability and governance (ESG) reporting requirements, and enables producers worldwide realize their goal to reduce methane intensity from operations.

In order to address the expanded global market demand for its products while positioning the company for increased growth, SeekOps has strengthened its leadership team by adding a new Chief Executive Officer to guide it through this critical next step.

SeekOps is pleased to announce Iain Cooper as its new CEO. Iain, who previously led technology development, strategy and investment at Schlumberger, brings 30 years of experience in the energy sector. His experience will not only lead SeekOps through effective international scaling of its technology and services, but also expansion beyond traditional energy-sector business into other major industrial verticals, such as biogas, waste management and mining, monitoring broader range of chemical species.

Iain comments: “SeekOps actionable data products have been demonstrated in rigorous oil and gas environments, and while we will continue global growth to support upstream operations, SeekOps will also translate its capabilities to meet the needs of the midstream and downstream sectors. Furthermore, there are similar environmental and sustainability pressures across other industries that must be validated using accurate and reliable technologies, as typified by SeekOps.”

This move strengthens the current executive team as the company’s Founder and CEO of three and a half years, Andrew Aubrey, transitions to a new role as Senior Vice President of Strategic Partnerships. These strategic partnerships will be a key component of SeekOps’ future growth.

Media Contact – SeekOps Inc.
Paul Khuri
SeekOps Inc.
VP Business Development
Phone: (713)962-6146
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HOUSTON--(BUSINESS WIRE)--Morrison, a leading energy service company for the oil, gas and renewables industries, successfully completes the installation of Byron Energy Limited’s South Marsh Island Blocks 58 & 59 oil and gas sales pipelines, which marked more than 5.5 million feet of pipe laid by Morrison in the Gulf of Mexico.

The most recent 60,720 foot pipeline installation campaign consisted of 3 inch, 4 inch, 6 inch and 8 inch pipelines in water depths of approximately 140 feet and included burials, risers and tie-in fabrication and installations, crossing mitigation, and pigging, hydro testing and commissioning of the pipelines.

The Byron pipeline installation presented a unique opportunity for the triple lay of a portion of the overall pipelay on the project. To perform the pipelay installations and bury operations, Morrison utilized its pipeline lay barge, the CM-15. Morrison worked with the export pipeline companies and installed hot tap tie-in on those transmission lines. This was performed utilizing Morrison’s dive asset, DSV Kelly Morrison, while the DSV Joanne Morrison provided both saturation and surface diving support for the riser clamp, pipeline tie-ins and various dive operations.

“We are extremely proud to reach the milestone of ‘more than 5.5 million ft of pipe laid in the Gulf of Mexico’ in 2020, the year in which Morrison celebrates its 20^th anniversary of working in the pipeline business,” stated Morrison CEO Chet Morrison. “We are established pipeline veterans that can accomplish challenging projects even in difficult times, and the completion of this project is evidence of that.”

ABOUT MORRISON

Chet Morrison Contractors, LLC (Morrison) is an energy service company that delivers integrated infrastructure solutions to clients in the oil and gas and renewables industries. With more than 38 years of experience, worldwide facilities and a wide range of specialized resources, the company prides itself on providing creative alternatives and value-added solutions to every project, both onshore and offshore. The company adheres to the highest standards of quality and safety with uncompromising regard for the environment. For more information, visit: www.morrisonenergy.com.

Kelly Reeves
VP Marketing, Morrison
+1 (985) 858-3112
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WASHINGTON--(BUSINESS WIRE)--#energy--Delays, obstruction or cancellation of pipeline infrastructure projects are threatening at least $13.6 billion in economic activity, over 66,000 jobs and more than $280 million a year in state and local tax revenue at a time when America’s financial recovery from COVID-19 requires more investment and tax revenue, a new Consumer Energy Alliance report finds.

The report, “How Pipelines Can Spur Immediate Post-COVID Economic Recovery,” for the first time quantifies the potential and actual economic harm that anti-energy interest groups and allied policymakers, regulators and even judges are creating, and contrasts that with the harsh COVID-related economic realities that exist right now in states where energy infrastructure is needed – but is being impeded.

The findings of the report, which examines a representative sample of states, demonstrates how new energy infrastructure construction activity could provide relief for struggling families and small businesses, put thousands back to work at wages far above the national average, and create demand in the manufacturing and industrial sector for steel, parts, services and a host of energy and construction supply chain needs.

Despite this tremendous opportunity, there are still organized forces intent on leveraging the devastation of the pandemic to advance an extreme agenda against the infrastructure that delivers the energy that literally makes our world go around, our lives easier, and our environment better by making cleaner forms of fuel available. CEA’s report details how their efforts to champion lawsuits, procedural delays, and regulatory roadblocks to stop construction projects are hindering economic recovery and destroying – or have destroyed – billions in consumer savings through lower energy bills.

Among the findings:

• Opposition in New York, New Jersey and Pennsylvania against infrastructure risks more than $3.5B in economic activity and more than 17,000 mostly union jobs and nearly $52M/Yr in tax revenues. The Northeast Supply Enhancement project alone would have saved residential customers 65% on their utility bills and prevented the annual carbon emissions equivalent of 500,000 cars from going into the atmosphere

• The actual or potential economic harm to Virginia, West Virginia and North Carolina includes $2.7B in economic activity and $7.5B in projected energy savings & 17,000 jobs already lost

• Blocking the Line 5 Tunnel Project would destroy $5.4B a year in economic activity in Southeast Michigan and Ohio

• Opposition to Line 3 Replacement Project in Minnesota threatens $35M/Yr in new tax revenue, $2 billion in economic activity, $162M in local construction spending and 8,600 jobs

• Shutdown of the Dakota Access Pipeline may add $1 billion/Yr to farmers’ costs as oil demand drives rail car prices up, risk higher gasoline, diesel and jet fuel prices for the upper Midwest

• Failure to move ahead with the Keystone XL expansion will destroy $3.4 billion in investment, 10,400 jobs and $55 million in local tax revenue/Yr across Montana, South Dakota and Nebraska

• If Bayou Bridge opponents had succeeded, Louisiana would have lost $17.8 million in sales tax and over $420 million in payroll for 2,500 construction jobs would have evaporated

“With almost $14 billion of ready investment to fuel post-COVID recovery available, the campaign to impede America’s vital energy infrastructure projects is putting the desires and politics of the few against the economic needs of the many – and our nation,” CEA President David Holt said.

“We’d be foolish to push these immediate injections of private capital aside, because it will slow our economic recovery at the expense of countless families and businesses who are just trying to get back on their feet again. These projects have also been proven to provide the best environmental protections because they introduce state-of-the-art technologies to reduce emissions and increase safety where none existed before.”

Holt added: “We can put people back to work now if our policymakers can find the courage to say no to politically motivated anti-energy groups, who lack a realistic plan to help get America back on its feet. It’s time to reject those who offer fact-free opposition to our energy needs in a let-them-eat-cake manner that only harms ordinary people and businesses, and erases the chance for immediate environmental gains.”

To read the full report, click here.

About Consumer Energy Alliance
Consumer Energy Alliance (CEA) is the leading voice for sensible energy and environmental policies for consumers, bringing together families, farmers, small businesses, distributors, producers and manufacturers to support America's environmentally sustainable energy future. With more than 550,000 members nationwide, we are committed to leading the nation’s dialogue around energy and the environment, its critical role in the economy, and how it supports the vital supply chains for the families and businesses that depend on them. CEA works daily to encourage communities across the nation to seek sensible, realistic and environmentally responsible solutions to meet our nation’s energy needs.

Bryson Hull
P: 202-657-2855
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HOUSTON--(BUSINESS WIRE)--Black Bear Transmission LLC (“Black Bear”) today announced that it has completed the previously announced bolt-on acquisition of a portfolio of Natural Gas Transmission assets (the “NGT Assets”) from a subsidiary of Third Coast Midstream LLC (“Third Coast Midstream”).

Black Bear is a portfolio company of the second Basalt fund (“Basalt”). This transaction marks Black Bear’s second bolt-on acquisition, having acquired the Ozark system from Enbridge in April 2020.

The NGT Assets include six intrastate natural gas pipelines spanning approximately 1,400 miles in Alabama, Louisiana and Mississippi. The system has total capacity of more than 800 MMcf per day and benefits from significant interconnectivity to major long-haul pipelines, providing reliable, cost-advantaged gas supply to utilities and other key end-users.

“We are very pleased to finalize this purchase of additional pipelines from Third Coast Midstream,” said Rene Casadaban, Chief Executive Officer of Black Bear Transmission. “These assets are a perfect fit with Black Bear because they strengthen our footprint of high-quality, demand-driven gas pipelines that are well-positioned to capture increasing natural gas demand in the Southeast United States. A team of seasoned operations and business development personnel will be coming to Black Bear with the assets, allowing us to maintain our focus on providing safe and reliable service to our customers. We appreciate all the work on the part of Third Coast Midstream for making this a successful transaction, and we look forward to completing a smooth transition.”

“We are excited about the follow-on sale of the NGT Assets to Black Bear,” stated Matt Rowland, President & Chief Executive Officer of Third Coast Midstream. “This transaction represents one of the final pieces of Third Coast’s strategic repositioning to focus on its core offshore and Gulf Coast asset base. In addition, Third Coast has executed a commercial services agreement with Black Bear, which will ensure a smooth transition and consistent commercial operations for Black Bear’s customers.”

Barclays served as exclusive financial advisor to Basalt, and Vinson & Elkins served as Basalt’s legal advisor. BMO Capital Markets served as exclusive financial advisor to Third Coast Midstream, while Orrick served as Third Coast Midstream’s legal advisor.

About Black Bear

Black Bear Transmission LLC transports and delivers natural gas from various pipeline receipt points to utility, power generation and industrial customers in the Southeast United States. Black Bear owns and operates 14 regulated natural gas pipelines stretching more than 2,600 miles, with total delivery capacity of more than 2.6 Bcf per day. The pipelines are connected to 18 major long-haul pipelines, ensuring reliable gas supply to customers across Alabama, Arkansas, Louisiana, Mississippi, Missouri, Oklahoma and Tennessee. Black Bear Transmission LLC is headquartered in Houston, TX.

For more information, please visit www.blackbearllc.com

About Basalt

Basalt I and Basalt II are two of the flagship Basalt Infrastructure Partners funds. They are infrastructure equity investment funds focusing on investments in utilities, power, transport, and communications infrastructure in North America and Europe. Other investments by the Basalt funds in North America include the Upper Peninsula Power Company, Texas Microgrid, DB Energy Assets, Detroit Thermal, Hyperion and Helios Power. Black Bear Transmission is a Basalt II portfolio company.

For more information, please visit www.basaltinfra.com.

About Third Coast Midstream

Headquartered in Houston, Texas, Third Coast Midstream, LLC is a full-service midstream company with assets that provide critical midstream infrastructure linking producers of natural gas, crude oil, NGLs, and condensate to end-use markets. Third Coast Midstream’s assets are strategically located in the prolific Deepwater Gulf of Mexico. Third Coast Midstream currently owns or has an ownership interest in approximately 3,000 miles of interstate and intrastate pipelines, as well as ownership in gas processing plants, fractionation facilities, an offshore semi-submersible floating production system with nameplate processing capacity of 90 MBbl/d of crude oil and 220 MMcf/d of natural gas, and a terminal site with approximately 3.0 MMBbls of storage capacity.

For media inquiries:
Black Bear Transmission
Rene Casadaban
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Winners to Be Celebrated During Virtual Ceremony on 1 December

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Zen Ecosystems was named the winner of a Bronze Stevie® Award in the Company of the Year in Energy category in The 17^th Annual International Business Awards® today.

The International Business Awards are the world’s premier business awards program. All individuals and organizations worldwide – public and private, for-profit and non-profit, large and small – are eligible to submit nominations. The 2020 IBAs received entries from organizations in 63 nations and territories.

As the ongoing COVID-19 crisis will prevent winners from receiving their awards on stage during a traditional gala IBA banquet, winners will be celebrated instead during a virtual ceremony on Tuesday, 1 December.

Zen Ecosystems provides intelligent energy management solutions targeted at solving some of the energy related challenges that commercial businesses and residential consumers face today. With the help of our products and our easy to use energy platforms, Zen HQ or the Zen Thermostat App, saving energy and reducing energy bills couldn’t be any simpler.

Over 3,800 nominations were submitted in the International Business Awards this year. The judges had plenty of positive feedback regarding the products that Zen Ecosystems provides, “Reducing energy is a great goal and you have done a lot to achieve that for your customers,” and “Zen Ecosystems has created a fantastic product for a market niche that was falling between the cracks. Reducing CO2 emissions, as well as saving individuals and SME's significant expense is a brilliant result.”

Stevie Award winners were determined by the average scores of more than 250 executives worldwide who participated in the judging process from July through early September.

“Despite the unprecedented impact the COVID-19 pandemic has had on organizations and working people worldwide, the number and quality of nominations we received in this year’s International Business Awards attests to the continued outstanding performance of many organizations. The commitment we’ve seen through these nominations to maintaining the success, health, and safety of employees, customers, and communities is truly impressive,” said Stevie Awards president Maggie Gallagher.

About Zen Ecosystems

Zen Ecosystems provides intelligent energy management solutions for businesses and consumers. Zen HQ is an energy management system designed for the unique needs of businesses and utilities to provide insights and control over multi-site commercial energy usage while delivering the fastest payback in the market. The Zen Thermostat is a beautiful, simple connected device for home and business that also enables multi-system operators to enhance the customer experience. Zen Ecosystems was recognized in 2018 as the Gold Stevie Award Winner for Energy Industry Innovation of the year. In 2019, Zen was recognized again as a Gold Stevie Award winner for Company of the Year in Energy followed by winning the People’s Choice Award in the Energy Category. Learn more at http://zenecosystems.com.

About the Stevie Awards

Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 nominations each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at www.StevieAwards.com.

Nicole Ricouard
Marketing Director
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LONDON--(BUSINESS WIRE)--#DemulsifierMarket--The demulsifier market is expected to grow by USD 254.62 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

Request challenges and opportunities influenced by COVID-19 pandemic - Request a Free Sample Report on COVID-19 Impacts

Growing global energy demands and technological advancements in oil and gas E&P activities have significantly increased the production of crude oil across the world. For instance, in 2019, the average crude oil production in the US stood at 12.23 million barrels per day which is 11% higher compared with the crude oil production in 2018. In the Middle East, leading crude oil producers such as Saudi Arabia and Iraq accounted for 12.6% and 5.6% of global crude oil production respectively. Demulsifiers are extensively used in crude oil production to separate oil-water emulsion. Therefore, the increase in global crude oil production is expected to drive the growth of the global demulsifier market during the forecast period.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44072

As per Technavio, the growing developments in green demulsifier will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Demulsifier Market: Growing Developments in Green Demulsifier

Conventional demulsifiers use certain synthetic chemicals such as polyoxyethylene and polypropylene. These are harmful to aquatic organisms and the surrounding environment. The harmful effects of conventional demulsifiers on the environment are compelling several governments and regulatory authorities across the world to impose stricter environmental regulations. This is prompting vendors in the market to replace existing substances used in conventional demulsifiers with environment-friendly chemicals, such as plant and silicone derivatives. This trend is expected to have a positive impact on the growth of the global demulsifier market during the forecast period.

“Advances in demulsifier formulations and the rise in global refining capacity will further boost market growth during the forecast period,” says a senior analyst at Technavio.

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Demulsifier Market: Segmentation Analysis

This market research report segments the demulsifier market by Type (Oil-soluble demulsifier and Water-soluble demulsifier) and Geography (MEA, North America, Europe, APAC, and South America).

The MEA region led the demulsifier market in 2019, followed by North America, Europe, APAC, and South America respectively. During the forecast period, MEA is expected to register the highest incremental growth due to the increase in E&P activities in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
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Website: www.technavio.com/

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (“Hudson Pacific”) (NYSE: HPP) today announced that it is fully carbon neutral across all operations. As part of its Better Blueprint platform, the company had previously committed to being net zero carbon by 2025, but has achieved the goal early through a combination of energy efficiency, on-site renewables, renewable energy certificates and verified emission reduction credits. These efforts have eliminated the Scope 1 and 2 greenhouse gas (GHG) emissions generated by the company’s energy use of its buildings.

“Hudson Pacific is committed to leadership in sustainability,” said Victor Coleman, Chairman and CEO of Hudson Pacific. “I am proud to have met our carbon neutrality goal five years early, but we are just getting started. We will continue to push the envelope to find innovative, tech-enabled solutions to minimize our environmental impacts, with a focus on driving down energy use even further and expanding on-site renewable energy. More than ever, we have a responsibility to our communities to prioritize climate action, and we are dedicated to expanding our efforts and sharing with our peers as we continue this important work.”

Achieving carbon neutrality across all operations required a multifaceted strategy, including:

• Energy efficiency. Approximately 64% of Hudson Pacific’s in-service office portfolio is ENERGY STAR certified; 65% is LEED certified.

• On-site renewables. The company uses traditional rooftop solar panels where possible and has piloted brand new technology such as building-integrated photovoltaics (solar panels built directly into the façade of a building).

• Renewable Energy Certificates (RECs). In 2019, Hudson Pacific converted to 100% renewable electricity at all properties that it owns and manages by purchasing RECs from a wind farm in Texas.

• Carbon offsets. The remainder of the company’s greenhouse gas emissions are now offset by verified emission reduction credits from a landfill gas-to-energy project in Illinois. The resulting carbon offsets are Verified Carbon Standard (VCS) certified.

This strategy decouples the company’s carbon and energy use, ensuring that Hudson Pacific will remain carbon neutral regardless of the operational changes being made due to the COVID-19 pandemic, such as increased ventilation and air filtration.

“Decoupling our carbon and energy use is essential so that we never have to choose between our commitment to sustainability and health and safety at our properties,” said Natalie Teear, Vice President of Sustainability and Social Impact. “These commitments are all critical to our success as a business and to supporting vibrant, thriving urban spaces built for the long term.”

“As one of the first major real estate organizations to achieve carbon neutrality across its operations, Hudson Pacific is a pioneer in sustainability,” said Cristina Gamboa, CEO of the World Green Building Council. “This milestone proves that it is possible for companies to quickly reach bold goals that will have a lasting, positive impact on the environment and our communities.”

Hudson Pacific plans to expand upon its use of sustainable technologies, in part through its pre-existing partnership with Fifth Wall, the largest venture capital firm focused on technology-driven innovation for the global real estate industry, to further reduce operational carbon. The company already has an active pipeline of technology projects around water recycling, leak detection, window film and indoor-air-quality monitoring and improvement.

Brendan Wallace, Co-Founder and Managing Partner of Fifth Wall, said, “Hudson Pacific shares our mission to innovate and lead the real estate industry toward a more sustainable future. We look forward to working closely with them to further develop and implement some of the industry’s most impactful technology solutions, including those which reduce carbon emissions.”

Hudson Pacific is also working to reduce its Scope 3 GHG emissions from non-operational carbon, particularly the carbon embodied in building materials like steel and concrete. The company is measuring the embodied carbon footprints of all (re)developments and major repositioning projects and identifying opportunities to make lower-carbon design and procurement choices such as sourcing steel from local plants powered by clean energy or swapping out steel for alternative materials like mass timber.

For more information about Hudson Pacific’s Better Blueprint and commitment to sustainability, please visit https://www.hudsonpacificproperties.com/responsibility.

About Hudson Pacific Properties

Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more. Hudson Pacific is publicly traded on the NYSE under the symbol HPP and listed as a component of the S&P MidCap 400 Index. For more information visit HudsonPacificProperties.com.

Forward-Looking Statements Regarding Hudson Pacific Properties

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond Hudson Pacific’s control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect Hudson Pacific’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, Hudson Pacific disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause Hudson Pacific’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in Hudson Pacific’s Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by Hudson Pacific from time to time with the SEC.

Investor Contact:
Laura Campbell
Senior Vice President, Investor Relations & Marketing
(310) 622-1702
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Media Contact:
Laura Murray
Director, Communications
(310) 622-1781
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CRANBURY, N.J.--(BUSINESS WIRE)--Innophos Inc., a leading producer of specialty phosphates, announces that the US Patent and Trademark Office Patent, has issued US Patent 10,767,118 on September 8, 2020. The patent covers a family of metal-based scavengers that reduce hydrogen sulfide emissions in asphalt, thereby improving the safety of those working with the asphalt and reducing equipment corrosion. The patent has an expiration date of August 2, 2036.

Hydrogen Sulfide (H₂S) in Asphalt

H₂S is a naturally occurring gas that is found in crude oil and its derivatives from the refining process, such as asphalt. H₂S is also formed by the degradation of sulfur compounds in the oil when it is exposed to high temperatures or catalysts in the refining process. H₂S is a toxic and corrosive gas, and its presence can lead to hazardous conditions for humans and equipment. To reduce H₂S in asphalt, many asphalt producers and terminals use metal-based scavengers to remove the H₂S prior to transporting to downstream destinations.

About INNOVALT^® Scavenger

When liquid asphalt is modified with polyphosphoric acid (PPA) to achieve a higher performance grade for use in asphalt pavements, not all metal-based H₂S scavengers are capable of withstanding the transiently acidic environment created by the PPA resulting in the increased release of H₂S. INNOVALT^® SL70’s newly patented, metal-based liquid technology is capable of withstanding the acidic condition generated in asphalt when it is PPA-modified and maintains the metal sulfide bond in suspension instead of releasing H₂S into the storage vessel’s headspace.

“This patent expands Innophos’ portfolio in the PPA-modified asphalt space in which Innophos has been a lead innovator over the past 25 years with several patent-protected applications,” said Sherry Duff, Chief Marketing and Technology Officer. “It’s very exciting to see how our solution allows the asphalt industry to achieve a higher level of performance for their products while improving the safety of those working with the asphalt.”

About the Company

Innophos is a leading international producer of essential ingredients. We partner with world-leading health & nutrition, food & beverage, and industrial brands to create science-based solutions that improve quality of life. Our knowledgeable teams apply science to unlock the potential that lies within the blends and formulations that we deliver. Forward thinking and people centric at heart, we execute with purpose and efficiency to create value in everything we do. Headquartered in Cranbury, New Jersey, Innophos has manufacturing operations across the United States, in Canada, Mexico and China. For more information, please visit www.innophos.com.

Eugenia Erlij, VP of Marketing and Communications
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614.787.6756

HOUSTON--(BUSINESS WIRE)--SURGE ENGINEERING, a recognized leader in process controls and automation, announced the launch of a new website. As part of their scaling effort and new growth plan, SURGE is also pleased to announce that it is a founding member of the ISA Global CyberSecurity Alliance. SURGE provides solutions to the most demanding challenges within multiple industries including Oil & Gas, Power, Wastewater, and Government sectors.

With 20 years of experience, SURGE’s reputation is built on solving the difficult problems while delivering the highest level of system performance. “I’ve been involved in nearly every facet of the electrical instrumentation and automation industry,” Founder and CEO Charlie Souza commented. “I’ve worked client-side, service-side, served on the board of ISA and trained hundreds of engineers. I founded SURGE to scale the trust and experience I built over the years to deliver broader, full turn-key capabilities.”

Part off these turn-key capabilities will now include a stronger focus on cybersecurity. By becoming a founding member of ISA, SURGE is part of the UN-endorsed ISA/IEC 62443 cybersecurity standards and collaborates to advance cybersecurity awareness, education, readiness, and knowledge sharing. These key focuses are part of the industrial and SCADA cybersecurity expertise SURGE utilizes to ensure that millions of square feet of industrial complexes run safely and smoothly.

SURGE’s expertise doesn’t stop with process controls and automation or cybersecurity. They also provide solutions for instrumentation and electrical along with safety instrumented systems. “SURGE is an engineering firm whose premium services are best fit for more challenging IC&E, automation projects, and 3^rd party QA/QC; however, our door is always open to past and future colleagues!” Souza noted.

Please visit https://surge.engineering/ to explore the new website and learn more about services offered.

Related Links

https://surge.engineering/
https://surge.engineering/#industries
https://isaautomation.isa.org/cybersecurity-alliance/

SURGE ENGINEERING
Charlie Souza
(713) 400-1294
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Joins at pivotal moment to contribute to accelerating company’s growth

TEMPE, Ariz.--(BUSINESS WIRE)--ASRC Industrial (AIS), a premier provider of industrial and environmental services throughout the United States, is pleased to announce the addition of Dr. Scott Harris as president of its Environmental Quality Management operating company. EQM is a leading emergency response, environmental remediation, clean construction and professional services company based in Cincinnati with operations nationwide. In his role, Harris will have oversight of EQM, as well as EQM Services, an SBA certified 8(a) company, and report to Robert Pelham, president of AIS’s Cleaning, Demolition and Remediation operating group.

“I am happy to welcome Dr. Scott Harris to our team at this critical time in the pursuit of our enterprise purpose,” said Brent Renfrew, president and chief executive officer, ASRC Industrial. “Scott’s combination of leadership abilities, and standing as a recognized national expert in Type 1 incident preparedness and response management, will position EQM to enhance its service offerings to existing, as well as prospective customers, thereby providing increased opportunities for the talented EQM team.”

Prior to joining AIS, Harris served as an associate director at Environmental Services at GDS Associates in Austin, Texas. Throughout his 30-year career, he has served in a variety of senior leadership positions, including key roles at EHS Services at Alamo1 and EHS Advisory Services at UL Workplace Health and Safety. He also is currently a professor of Environmental Science at the University of Texas at San Antonio.

“I am excited to join the leadership team at EQM and to be part of the ASRC Industrial family,” Harris said. “I look forward to working with the team to help accelerate growth and support the company’s vision of building an enduring, employee-centric, customer-focused industrial services provider.”

Harris earned his Bachelor of Science and Master of Science from Western Kentucky University and his Ph.D. from Oklahoma State University.

About ASRC Industrial

Headquartered in Tempe, Arizona, ASRC Industrial is a wholly-owned operating company of Arctic Slope Regional Corporation (ASRC). AIS is organized within three capabilities-based operating groups: Maintenance, Mechanical and Specialty Services; Cleaning, Demolition and Remediation Services; and Engineering, Inspection and Professional Services. AIS has approximately 4,500 employees and operations throughout the United States. Operating companies include Arctic Pipe Inspection, Arctic Testing and Inspection, Brad Cole Construction, D. Zelinsky & Sons, D2 Industrial Services, DACA Specialty Services, Environmental Quality Management, EQM Services, F.D. Thomas, FDTWI, HRCS Engineering, Hudspeth & Associates, K2 Industrial Services, Mansfield Industrial, Mavo Systems, National Environmental Group, Niles Construction Services, Northwest Demolition & Dismantling, Petrochem, RSI EnTech, RSI Services and US Coatings. As a wholly-owned operating company of ASRC, AIS and its subsidiaries are considered minority business enterprises. Learn more about AIS at www.asrcindustrial.com.

Rebecca Brown, Corporate Communications
ASRC Industrial
(602) 295-1400
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DUBLIN--(BUSINESS WIRE)--The "Biodiesel Market, Size, Share, Outlook and COVID-19 Strategies, Global Forecasts from 2019 to 2026" report has been added to ResearchAndMarkets.com's offering.

As the Biodiesel industry shifts, the report presents the emerging market trends, factors driving the Biodiesel market growth, and potential opportunities over the forecast period. The trends underpinning the profitability of Biodiesel companies are shifting rapidly, forcing companies to carefully align their strengths in synchronization with Biodiesel industry trends.

To avoid getting left behind in an intensive competitive Biodiesel market, global companies need a new approach to ensure they create value in this environment. Amid increasing activities of M&A and growing activist-investor activity, Biodiesel companies must strengthen their capabilities to maintain their market shares in the Biodiesel industry.

To assist Biodiesel manufacturers and vendors to formulate their strategies and analyze their business in the global front, the publisher has published its 2020 series of Biodiesel market size, share, opportunities, and outlook to 2026. The report explores changing Biodiesel market landscape, capital markets, strategies, mergers & acquisitions in the global and country-level markets.

The report presents an introduction to the Biodiesel market in 2020, analyzing the COVID-19 impact both quantitatively and qualitatively. It presents the strategies being adopted by leading Biodiesel companies, emerging market trends, Biodiesel market drivers, challenges, and potential opportunities to 2026. The market attractiveness index is also included to assess the impact of suppliers, buyers, competitive landscape, new entrants, and substitutes on the Biodiesel market.

The global Biodiesel market size is forecast across different scenarios including the actual forecasts and COVID-19 affected forecasts from 2019 to 2026. Further, Biodiesel market revenue and market shares in global industry are forecast across different types of Biodiesel, applications, and end-user segments of Biodiesel and across 18 countries.

Companies Mentioned

• Western Dubuque Biodiesel
• Delta American Fuel
• Imperium Renewables
• DuPont
• Deerfield Energy
• Crimson Renewable Energy
• China Biodiesel International Holding
• Diversified Energy Corporation
• XL Renewables
• Blue Marble Energy Corp.

Report Guide

• COVID-19 Impact is specifically included in the research
• This report is in its 12th version since first publication in September 2010
• It comprises of over 90 tables and charts
• The report spans across 150 pages
• Data and analysis is sourced from own proprietary databases

General Scope

• Analysis across different types and applications is covered
• Five regions including Asia Pacific, Europe, Middle East, Africa, North America and South and Central Americas are included
• 18 countries are included in the analytical research
• Five Company Profiles analyzing their Business, Revenues, and Operations is presented

Key Topics Covered:

1 Table of Contents

2 Executive Summary

2.1 Market Panorama, 2020

2.2 Biodiesel Outlook to 2026 - Original Forecasts

2.3 Biodiesel Outlook to 2026 - COVID-19 Affected Forecasts

3 Strategic Analytics to Boost Productivity and Profitability

3.1 Potential Market Drivers and Opportunities

3.2 New Challenges and Strategies being adopted by Companies

3.3 Short Term and Long Term Biodiesel market trends

3.4 Impact of New Entrants, Competitive Landscape, Substitutes, Buyer and Supplier Powers

4 Global Biodiesel Market Outlook across Types to 2026

4.1 Asia Pacific Biodiesel Market Outlook across Types, 2019 - 2026

4.2 Europe Biodiesel Market Outlook across Types, 2019 - 2026

4.3 North America Biodiesel Market Outlook across Types, 2019 - 2026

4.4 South and Central America Biodiesel Market Outlook across Types, 2019 - 2026

4.5 Middle East Africa Biodiesel Market Outlook across Types, 2019 - 2026

5 Global Biodiesel Market Outlook across Applications to 2026

5.1 Asia Pacific Biodiesel Market Outlook across Applications, 2019 - 2026

5.2 Europe Biodiesel Market Outlook across Applications, 2019 - 2026

5.3 North America Biodiesel Market Outlook across Applications, 2019 - 2026

5.4 South and Central America Biodiesel Market Outlook across Applications, 2019 - 2026

5.5 Middle East Africa Biodiesel Market Outlook across Applications, 2019 - 2026

6 Country - wise Biodiesel Market Analysis and Outlook to 2026

7 Global Biodiesel Market Competitive Analysis

7.1 Top 10 Leading Companies in the global Biodiesel industry

7.1.1 Business Overview

7.1.2 Biodiesel Products and Services

7.1.3 SWOT Analysis

7.1.4 Financial Profile

8 Global Biodiesel Market - Recent Developments

8.1 Biodiesel Market News and Developments

8.2 Biodiesel Market Deals Landscape

9 Appendix

9.1 Publisher Expertise

9.2 Research Methodology

9.3 Sources and Proprietary Databases

9.4 Abbreviations

9.5 Contact Information

For more information about this report visit https://www.researchandmarkets.com/r/7asdme

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IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that its joint venture with Daewoo Engineering & Construction and Hyundai Heavy Industries, FDH JV, has successfully started up two boilers and they began generating steam in the new Al-Zour Refinery at the Kuwait Integrated Petrochemicals Industrial Company’s (KIPIC) Package 2 and 3 Project in Kuwait.

Fluor is leading a joint venture that is working to deliver two engineering, procurement, fabrication and construction packages for key process support units, utilities and infrastructure for the highly complex, mega-sized Al-Zour Refinery project in Kuwait. Upon completion, the grassroots complex is expected to be one of the largest refineries in the world and process 615,000 barrels of oil per day.

“This significant milestone marks the completion of several critical utility systems to start up and advance the refinery into commercial operations with our ongoing support,” said Mark Fields, president of Fluor’s global Energy & Chemicals business. “Timely delivery of the new Al-Zour Refinery is critical to the Kuwait economy. Our team worked closely with KIPIC to continue with about 15,000 workers on site to maintain progress throughout the COVID-19 pandemic. This accomplishment was made possible through the joint venture team’s well-conceived health and safety strategy that was implemented with rigorous discipline.”

“Working together with the Fluor-led joint venture to achieve this important milestone for the ZOR Program is a true success – not only for KIPIC, but for the State of Kuwait – and will help bring energy self-sufficiency and further prosperity for all of us,” said Khaled Al-Awadhi, deputy CEO of KIPIC.

Leading up to this achievement, various enabling facilities were successfully completed and handed over including the central control room building and other associated buildings, fire water systems, communication systems and other refinery infrastructure. COOEC Fluor Heavy Industries Co., Ltd. – Fluor’s joint venture fabrication yard in Zhuhai, China – also delivered 188 modules with a combined weight of 65,000 metric tons to support the project’s large-scale, onshore modular execution strategy.

The Fluor joint venture has executed more than 154 million work hours on site, and at peak, employed more than 20,000 craft workers backed by joint venture team members spread across three continents.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company with projects and offices on six continents. Fluor’s 47,000 employees build a better world by designing, constructing and maintaining safe, well-executed, capital-efficient projects. Fluor is ranked 181 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has served its clients for more than 100 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

#ec

Brian Mershon
Media Relations
469.398.7621

Jason Landkamer
Investor Relations
469.398.7222

Demand fell back during last full week of August resulting in volumes for the month down 18% compared to last year.

GAITHERSBURG, Md.--(BUSINESS WIRE)--The recovery in U.S. gasoline consumption has plateaued as the summer driving season comes to an end and the school year begins for wide swaths of the country.

Latest data by OPIS, an IHS Markit (NYSE: INFO) company shows that demand actually fell 1.9% during the last full week of August from the previous week. The four-week rolling average for the period ending August 29th now shows demand resting at 18.2% below prior year levels.

U.S. gasoline sales had improved rapidly from May to early July following the collapse in early April that came with the national shutdown, when sales were 50% below prior year levels. But the recovery had begun to sputter even before demand slipped backwards in that final week of August.

“The plateauing in demand is a symptom of the continuing aggressiveness of the coronavirus and is telling us that it will take longer to get back to normal,” said Daniel Yergin, vice chairman, IHS Markit and author of The New Map.

The most recent OPIS survey now suggests that the post-COVID peak for U.S. volumes occurred during the week ending August 15th at 7.844 million barrels per day—15.4% below prior year levels.

The coming months typically bring a seasonal reduction in demand from the high points of the summer driving season. For the years 2017-2019 the average drop in U.S. gasoline demand from August to October has been on the order of 5 to 10%.

“Aside from the potential for a short-lived bump in demand from the Labor Day weekend, history suggests that the end of the U.S. driving season inevitably brings lower demand for gasoline thanks to shorter days, less vacations and more inclement weather,” said Fred Rozell, president of OPIS. “Now that those prime driving days are behind us, we are likely to settle into a prolonged pause in the demand recovery.”

OPIS DemandPro tracks actual weekly same-store gasoline consumption volumes at over 15,000 stations, aggregated on a national, regional and state level. This allows users to track and benchmark industry trends for overall retail gasoline sales.

The OPIS survey—tracking actual gallons out of retail stations—shows greater demand losses than recent figures reported by the Energy Information Administration (EIA) on account of different methodology, that EIA measures movement of gasoline from primary stocks rather than actual consumption at stations.

The latest OPIS report for the week of August 29th shows demand losses in every portion of the country over the prior year period.

• The Mid-Continent region posted the most moderate decline, down 17.44%

• The Southeast registered the sharpest declines, down 27.1%, but that was due to big volumes last year due to pre-hurricane buying. Florida showed an even larger year-on-year differential of 35% for the same reason.

• The Pacific Coast was off 24.4%. Year-on-year through-puts in the region never got better than 20% off from 2019 levels.

• The Northeast had seen its year-on-year consumption differential whittle down to within 16% of 2019 levels, but the past two weeks were weaker, and the gap widened back to 20% this past week.

“The data points to a challenging environment for refiners and marketers in the remainder of 2020,” Rozell said. “Cheap gas prices relative to the past 16 years will help curb some of the demand destruction, but retailers will have to adjust to shifting habits as consumers likely make fewer visits to traditional stations for fill-ups in favor of more ‘aggregated trips’ to supermarkets and big boxes chains that also sell fuel.”

OPIS DemandPro updates gasoline retail sales every week.

For further information about the OPIS Demand Report and OPIS DemandPro, rack and retail prices, contact Brian Norris, executive director, OPIS at This email address is being protected from spambots. You need JavaScript enabled to view it..

About OPIS (www.opisnet.com)

Oil Price Information Service (OPIS) by IHS Markit (NYSE: INFO) provides accurate pricing, real-time information and expert analysis across the global fuel supply chain, including the Spot.

About IHS Markit (www.ihsmarkit.com)

IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2020 IHS Markit Ltd. All rights reserved.

News Media Contact:
Jeff Marn
IHS Markit
+1 202 463 8213
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Press Team
+1 303 858 6417
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Ameresco to install smart meters across Montgomery County, Texas, to optimize water distribution system and help homeowners conserve

FRAMINGHAM, Mass. & THE WOODLANDS, Texas--(BUSINESS WIRE)--#ami--Ameresco, Inc., (NYSE: AMRC), a leading energy efficiency and renewable energy company, today announced that it has been selected by Woodlands Water to install automatic metering infrastructure (AMI) across its service area in Montgomery County, Texas. The AMI project will optimize the operations of Woodlands Water by creating a more efficient and effective water distribution system, while enhancing transparency for customers into water consumption and their monthly bills.

Following a competitive solicitation beginning in July 2019, Woodlands Water selected Ameresco to provide a “turnkey” solution to identify, design, install and monitor a comprehensive water efficiency program. Over the next 18 months, Ameresco will install more than 34,000 smart water meters across the Woodlands service area, which will seamlessly integrate water consumption data into customers’ existing WaterSmart portals.

“Among the many benefits of this project is an unprecedented level of transparency that our customers will have into their water consumption, including the ability to view and track usage from any computer or mobile device,” said James M. Stinson, PE, general manager for Woodlands Water. “Ameresco’s expertise in the area of smart city solutions and advanced metering technologies made them our ideal partner for this project.”

By providing more frequent and detailed information about water usage across its service area, Woodlands Water will be better equipped to detect and stop leaks before they can become a greater problem. This information also allows for enhanced customer engagement and service.

“Automatic metering infrastructure helps communities take better control of how they use and conserve water,” said Bob Georgeoff, vice president of Ameresco. “By replacing and upgrading existing infrastructure now, Woodlands Water will avoid the need for future improvements and help its customers cut down on unnecessary and costly overuse of water at home.”

To learn more about Ameresco’s services in water management and efficiency, visit www.ameresco.com/water-efficiency/.

About Woodlands Water

Woodlands Water is the central management agency for ten Municipal Utility Districts (MUDs) that currently serve The Woodlands in Montgomery County, Texas. Woodlands Water provides water distribution, wastewater collection, storm drainage and tax collection services. The principal objective of Woodlands Water is to provide the MUDs it serves with professional, reliable and quality services consistent with fiscal responsibility. Woodlands Water is committed to improving the efficiency and effectiveness of utility infrastructure and enhancing communication with its customers. To learn more about Woodlands Water, visit https://woodlandswater.org/.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total construction backlog. This project was reported in contracted backlog as of June 30, 2020.

Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.

Ameresco Federal Solutions team continues work on behalf of U.S. Armed Forces with utility energy savings contract at Marine Corps Air Station Cherry Point

FRAMINGHAM, Mass. & HAVELOCK, N.C.--(BUSINESS WIRE)--#cybersecurity--Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, today announced that Naval Facilities Command Mid-Atlantic (NAVFAC MIDLANT) has awarded to Duke Energy and Ameresco’s Federal Solutions group a $41 million utility energy savings contract (UESC) at the United States Marine Corps Air Station (MCAS) Cherry Point. Under a $38 million contract with Duke, Ameresco will make key improvements to enhance energy efficiency, resiliency, reliability, and cybersecurity at MCAS Cherry Point, while reducing the site’s energy consumption and costs.

MCAS Cherry Point is the largest airfield operated by the U.S. Marine Corps spanning more than 13,000 acres in Havelock, North Carolina. There are approximately 10,000 Marines, Sailors and students stationed at the base, which is also the only air station in operation 24 hours a day, 7 days a week, year-round.

The UESC scope provided by MCAS Cherry Point includes 3.29 million square feet of buildings, across which Ameresco will replace building lighting systems, modernize HVAC systems, and upgrade energy management, control systems and cybersecurity across 139 buildings. The contract also features the modernization of site electrical distribution systems and water conservation upgrades, including a reclaimed water system at the base’s wastewater treatment plant.

“Having been in continuous operation for more than 75 years, the utility and building systems at MCAS Cherry Point are at varying degrees of serviceability,” said Nicole Bulgarino, EVP and General Manager of Federal Solutions at Ameresco. “Ameresco appreciates the collaboration that Duke fostered during project development with the Navy and Marine Corps, which has made it possible for us now to deliver much-needed modernization at MCAS Cherry Point.”

In addition to the various resilience measures implemented Ameresco will provide ongoing persistent commissioning of the systems during the 20-year term of the UESC. This will ensure ongoing functionality and performance of the improvements.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported awarded backlog as of June 30, 2020.

Media:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.

ROCKVILLE, Md.--(BUSINESS WIRE)--Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) today announced financial results for its second quarter ended July 31, 2020. For additional information, please read the Company’s Quarterly Report on Form 10-Q, which the Company intends to file today with the U.S. Securities and Exchange Commission (the “SEC”). The Quarterly Report can be retrieved from the SEC’s website at www.sec.gov or from the Company’s website at www.arganinc.com.

Summary Information (dollars in thousands, except per share data)

Consolidated revenues for the quarter ended July 31, 2020 were $87.5 million, which represented an increase of $24.4 million, or 39%, from consolidated revenues of $63.1 million reported for the three months ended July 31, 2019. The increase was primarily due to increasing revenues at Gemma Power Systems (“GPS”) associated with the construction of the Guernsey Power Station, partially offset by the Company’s businesses being adversely impacted, to a declining degree, by continuing difficulties presented by the COVID-19 outbreak.

Atlantic Projects Company (“APC”), entered into a second amendment to its loss subcontract, effective June 1, 2020 (the “TeesREP Project”). The second amendment, which includes various terms and conditions, represents a global settlement of past commercial differences with both parties making significant concessions, and converts the invoicing to time-and-materials for the remaining work. For the three months ended July 31, 2020, consolidated gross profit was positively impacted by a net $2.3 million favorable adjustment related to the TeesREP Project. Overall, consolidated gross profit for the three months ended July 31, 2020 was $15.6 million, or 17.9% of the corresponding consolidated revenues.

With results reflecting primarily the factors identified above, the consolidated net income attributable to Argan’s stockholders was $5.6 million, or $0.36 per diluted share, for the three months ended July 31, 2020. The Company paid its regular quarterly cash dividend of $0.25 per share and a special dividend of $1.00 per share to its shareholders on July 31, 2020.

As of July 31, 2020, cash, cash equivalents and short-term investments totaled $408 million and net liquidity was $270 million; plus the Company had no debt. The Company’s consolidated amount of RUPO, which represents an accounting value for active work that is a subset of project backlog, was approximately $0.7 billion as of July 31, 2020.

The aggregate amount of the rated power represented by the natural gas-fired power plants for which GPS has signed EPC contracts, including certain plants that will have the ability to use green hydrogen as a fuel, is approximately 7.3 gigawatts with an aggregate contract value in excess of $3.0 billion. For those contracts not already included in project backlog, the Company anticipates adding them closer to their respective expected start dates when the projects complete key development milestones and obtain financing commitments. For all projects, the start date for construction is primarily controlled by the project owners.

Management Comment

Commenting on Argan’s results, Rainer Bosselmann, Chairman and Chief Executive Officer, stated, “We are pleased with the continued strong performance of our employees during this COVID-19 pandemic which has been difficult for all of us. Our talented employees’ ability to adapt and adjust to the situation is clearly demonstrated in our improved financial performance, especially the increasing activities at Guernsey executed by our GPS team. The TeesREP Project has been a long and costly project for us, but we are pleased to have resolved our differences with the customer and look forward to completing the project this year, which is over 90% complete. We have over $3.0 billion in signed EPC contracts for power plant projects, and while many factors are out of our control, we are optimistic that we will receive the construction go ahead on several of these new projects over the next three to nine months. In recognition of our significant liquidity, improving revenues, sustained profitability and a substantial pipeline of future project work, the Board of Directors declared a special dividend of $1.00 during the quarter and authorized the establishment of a $25.0 million share repurchase program. We appreciate our loyal shareholders and extend our sincere wishes for safety during these challenging times.”

About Argan, Inc.

Argan’s primary business is providing a full range of services to the power industry, including the renewable energy sector. Argan’s service offerings focus on the engineering, procurement and construction of natural gas-fired power plants, along with related commissioning, operations management, maintenance, project development and consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated fabrication, construction and industrial plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services.

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and the Company’s future financial performance is subject to risks and uncertainties including but not limited to its ability to mitigate losses related to APC’s loss subcontract, the successful addition of new contracts to project backlog, the receipt of corresponding notices to proceed with contract activities, the Company’s ability to successfully complete the projects that it obtains, and the Company’s success in minimizing the adverse impacts of the COVID-19 pandemic on the Company’s businesses. The Company has several signed EPC contracts that have not started and may not start as forecasted due to market and other circumstances beyond its control. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to the number of factors described from time to time in the Company’s SEC filings. In addition, reference is hereby made to the cautionary statements made by the Company with respect to risk factors set forth in its most recent reports on Form 10-K, Forms 10-Q and other SEC filings.

Company Contact:
Rainer Bosselmann
301.315.0027

Investor Relations Contact:
David Watson
301.315.0027

DUBLIN--(BUSINESS WIRE)--The "Coal Bed Methane Market Size, Share & Trends Analysis Report by Application (Industrial, Residential, Commercial, Power Generation, Transportation), by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.

The global coal bed methane market size is projected to reach USD 25.2 billion by 2027 expanding at a CAGR of 5.9%

The market is driven by decrease in methane emission related with coal mining and conventional fuels and generation of indirect and direct employment in the mining of coal bed methane (CBM).

Unconventional CBM reserves, especially found in coal rice countries, are gradually gaining the attention as the market struggles for an independent energy source. Exploration, production, and commercialization of such unconventional sources of energy are realized as a tough decision taken by the energy agencies or authorities, to alleviate the energy demand & supply gap in upcoming years.

CBM is a pure form of natural gas wherein manufacturers and customers have the chance to acquire tax incentives and carbon credits. The stringent framework designed for the extraction of CBM by various authorities coupled high investment process is likely to be a key challenge for market participants over the estimated period.

The industrial segment accounted for more than 28% share of the total market in 2019, in terms of revenue. It is projected to be the second-fastest-growing segment from 2020 to 2027. However, applications of CBM in the power generation sector is projected to account for the highest market share as well as the growth rate over the forecast period.

Asia Pacific led the global market in 2019 and accounted for over 45% of the total revenue share. The region is estimated to maintain its dominant position registering the fastest CAGR from 2020 to 2027 due to substantial unexplored reserves. China, in particular, is expected to account for the maximum share in the Asia Pacific regional market.

Coal Bed Methane Market Report Highlights

• The power generation segment led the overall market in 2019 and accounted for the largest share of 40%
• Asia Pacific is projected to be the largest as well as the fastest-growing regional market over the forecast period
• China is expected to account for the maximum share by 2027 in the Asia Pacific regional market
• North America is likely to have moderate growth during the projected period
• The U.S. was the leading country in the North America market in 2019 and is likely to retain its leading position from 2020 to 2027

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Market Definitions

Chapter 4. Coal Bed Methane Market Variables, Trends & Scope

4.1. Market Size and Growth Prospects

4.2. Industry Value Chain Analysis

4.3. Market Dynamics

4.3.1. Market Driver Analysis

4.3.2. Market Restraint Analysis

4.3.3. Opportunity Assessment

4.4. Penetration & Growth Prospect Mapping

4.5. Regulatory Framework

4.6. Business Environment Analysis Tools

4.6.1. Industry Analysis - Porter's

4.6.2. PESTEL Analysis

4.7. Impact of Corona Virus on Coal Bed Methane Market

Chapter 5. Coal Bed Methane Market Application Outlook

5.1. Market Size Estimates & Forecasts and Trend Analysis, 2016 - 2027 ( Revenue, USD Billion)

5.2. Residential

5.3. Commercial

5.4. Industrial

5.5. Power Generation

5.6. Transportation

Chapter 6. Coal Bed Methane Regional Outlook

6.1. Coal Bed Methane Market, By Region, 2019 & 2027

Chapter 7. Competitive Landscape

• Essar
• Reliance Industries Limited
• Arrow Energy Pty Ltd.
• PetroChina Company Limited
• Baker Hughes, a GE Company LLC
• Petroliam Nasional Berhad (PETRONAS)
• G3 Exploration
• ConocoPhillips Company
• GEECL
• Halliburton
• bp p.l.c.
• Gazprom
• Pioneer Natural Resources Company

For more information about this report visit https://www.researchandmarkets.com/r/n888kc

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
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AKRON, Ohio--(BUSINESS WIRE)--Pin Oak Midstream LLC (“Pin Oak Midstream” or the “Company”), a wholly owned subsidiary of Pin Oak Energy Partners LLC, announces the closing of a transaction with Laurel Mountain Midstream LLC ("LMM”), a joint venture between Williams Laurel Mountain, LLC and Chevron Northeast Upstream LLC, to acquire LMM’s Jackson Center assets (“Jackson Center”). Jackson Center includes over 1,050 miles of natural gas gathering pipelines and five (5) gathering compressor stations with a gathering capacity of over 50 MMcf/d and multiple interstate pipeline interconnects (both National Fuel Gas and Tennessee Gas Pipeline) with total interconnect capacities of almost 100 MMcf/d. The transaction adds to Pin Oak Midstream’s growing asset base within the Appalachian Basin.

Brent Breon, President of Pin Oak Midstream LLC and Chief Commercial Officer of Pin Oak Energy Partners LLC, stated, “These assets in Mercer, Lawrence, and Crawford counties of Pennsylvania are a great fit to our expanding footprint and further bolster the Company’s midstream assets in the oil and wet gas windows of the Utica play in northwestern Pennsylvania. The Jackson Center assets currently gather conventional and unconventional gas from third party operators in the area and will allow Pin Oak Energy to connect and produce Utica wells currently waiting on pipelines. Additionally, Pin Oak remains committed to our ongoing efforts of executing our growth strategy through acquisitions even during these difficult times.”

Pin Oak Midstream’s Appalachian Basin position consists of nearly 1,200 miles of pipeline assets; 13 interstate pipeline interconnections; gathering, processing and transportation dedications on more than 150,000 dedicated net deep acres (Marcellus and Utica) and current flowing volumes more than 15 MMcf/d.

About Pin Oak Midstream

Pin Oak Midstream is an Appalachian Basin midstream company and a wholly owned subsidiary of Pin Oak Energy Partners LLC. The Company is engaged in the gathering, processing, and transportation of hydrocarbons within its geographical area of focus.

About Pin Oak Energy

Pin Oak Energy Partners LLC and its subsidiaries are Appalachian Basin energy companies engaged in the exploration and production of conventional and unconventional oil and natural gas assets, along with the operation and ownership of midstream pipeline systems. The Company currently operates wells producing 24 MMcfe/d gross and nearly 12.0 MMcfe/d net (16% liquids), nearly 1,200 miles of midstream assets, and maintains 217,000 net acres (207,000 net deep acres) in the basin. Visit Pin Oak Energy at www.pinoakep.com.

Mark H. Van Tyne
This email address is being protected from spambots. You need JavaScript enabled to view it.
1-888-748-0763 Ext. 701

With 400 MWdc and 540 MWh of storage, the Rexford 1 Solar & Storage Center will provide clean, reliable power to 370,000 Californians

LOS ANGELES--(BUSINESS WIRE)--8minute Solar Energy (8minute) announced that the company has executed a 15-year power purchase agreement (PPA) with Clean Power Alliance (CPA). The 400-megawatt (300 MWac) Rexford 1 Solar & Storage Center in Tulare County includes 180 MW/540 megawatt-hours (MWh) of energy storage, which means it will reliably deliver renewable energy to the grid day or night or on cloudy days. When it becomes operational in 2023, Rexford will provide enough energy for over 370,000 Californians, making it not only the largest solar-plus-storage project for CPA, but also the largest for any community choice aggregator (CCA) to date. The plant will offset about 600,000 tonnes of CO₂ annually, or the equivalent of planting 12,000 trees every single day, for ten years in a row.

“The recent blackouts and continued wildfires in California offer sobering proof of the urgent need for more renewable and reliable energy generation that both fortifies our grid and fights climate change – and large-scale solar paired with energy storage is the most efficient, lowest-cost way to achieve just that,” said Dr. Tom Buttgenbach, Founder and CEO of 8minute. “We are proud to partner with Clean Power Alliance, the largest clean choice energy provider in California. Our new generation of solar-plus-storage power plants are the future of energy – replacing an aging fleet of fossil fuel power plants with more economical and cleaner solutions and creating good jobs when they are needed most. This partnership is yet another example of California taking the lead on next-generation technology, and we expect to build a lot more solar and energy storage centers across the United States.”

The Rexford 1 Solar & Storage Center will be constructed on private, low-productivity disturbed farmland in Tulare County, and is an example of the economic value that solar projects can provide to private landowners. Construction, which will begin in early 2022, will create over 400 well-paying union construction jobs, and approximately one thousand indirect jobs, in addition to contributing more than $200 million to the local economy over the life of the project. The investment, construction and operational inflows to Tulare County represent a huge economic boost for decades to come.

“Solar-plus-storage is not only the cleanest way to increase grid reliability, it’s also the smartest and most cost-effective,” said Ted Bardacke, Executive Director of Clean Power Alliance. “We are excited to partner on a project of this scale with 8minute, a trusted Los Angeles-based developer that shares our commitment to accelerating the clean energy transition in California.”

Rexford 1 marks 8minute’s second project with CCAs, and underscores 8minute’s continued success on record-breaking solar-plus-storage projects that are helping ensure reliability and advance California’s ambitious clean energy goals. 8minute has contracted 4.5 GW of solar projects, with over 18GW of solar energy capacity and 24 GWh of storage under development across California, Texas, and the Southwestern United States.

ABOUT 8MINUTE SOLAR ENERGY

As a nationwide leader in solar-plus-storage, 8minute Solar Energy (8minute) is championing the clean energy transition in the United States and shaping the future of energy. Since its founding in 2009, 8minute has successfully put 2 GW of solar projects into operation and currently has over 18 GW of solar and storage projects under development. By focusing on technology and engineering innovation, 8minute’s best-in-class team has continued to set new industry records, developing the largest solar plant in the nation starting in 2012, delivering the first operational solar plant in the U.S. to beat fossil fuel prices in 2016, and setting the record for the lowest cost solar and solar-plus-storage projects in 2019. As the largest solar developer in the country with an established track record of delivering above-market profitability, 8minute is pioneering a new generation of large-scale, fully dispatchable solar power. For more information, please visit www.8minute.com, and follow 8minute on Twitter and LinkedIn.

ABOUT CLEAN POWER ALLIANCE

Clean Power Alliance believes in a clean energy future that is local, where communities are empowered, and customers are given a choice about the source of their energy. Clean Power Alliance serves approximately one million customer accounts and has more customers on 100% renewable energy rate plans than any other electricity company in the country. Visit www.cleanpoweralliance.org for more information.

Katie Struble
Director, Corporate Communications
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SAN ANTONIO--(BUSINESS WIRE)--NuStar Logistics, L.P., a wholly owned operating subsidiary of NuStar Energy L.P. (NYSE: NS) (“NuStar Energy”), today announced that it has priced $600.0 million aggregate principal amount of 5.750% senior notes due October 1, 2025 (the “2025 Notes”) and $600.0 million aggregate principal amount of 6.375% senior notes due October 1, 2030 (the “2030 Notes” and together with the 2025 Notes, the “Notes”). The Notes were priced at par. The settlement date for the offering is expected to be September 14, 2020, subject to customary closing conditions. The Notes will be fully and unconditionally guaranteed by NuStar Energy, as parent guarantor, and NuStar Pipeline Operating Partnership L.P., a wholly owned operating subsidiary of NuStar Energy, as affiliate guarantor. The net proceeds from the offering are expected to be used for the repayment of indebtedness, including (1) all borrowings outstanding under NuStar Logistics, L.P.’s term loan agreement and the related repayment premium and (2) a portion of borrowings outstanding under NuStar Logistics, L.P.’s revolving credit agreement. Amounts repaid under NuStar Logistics, L.P.’s revolving credit agreement may be reborrowed and used for the payment of $300 million aggregate principal amount of NuStar Logistics, L.P.’s 6.75% senior notes due 2021 at their maturity and for general partnership purposes.

Citigroup Global Markets Inc., BofA Securities, Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Barclays Capital Inc., BBVA Securities Inc., BMO Capital Markets Corp., Mizuho Securities USA LLC, MUFG Securities Americas Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., TD Securities (USA) LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc. are acting as book-running managers for the offering. Comerica Securities, Inc. is acting as co-manager for the offering. A copy of the prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146. You may also obtain these documents for free when they are available by visiting the SEC’s website at www.sec.gov.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, 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. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

NuStar Energy, a publicly traded master limited partnership based in San Antonio, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar Energy currently has approximately 10,000 miles of pipeline and 75 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids. NuStar Energy’s combined system has approximately 75 million barrels of storage capacity, and NuStar Energy has operations in the United States, Canada and Mexico.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes forward-looking statements regarding future events, including the expected closing of the offering and the expected use of proceeds from the offering. All forward-looking statements are based on NuStar Energy’s beliefs as well as assumptions made by and information currently available to NuStar Energy. These statements reflect NuStar Energy’s current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in NuStar Energy’s 2019 annual report on Form 10-K and subsequent filings with the SEC. NuStar Energy undertakes no obligation to update or revise any forward-looking statement except as may be required by applicable law.

NuStar Energy L.P., San Antonio
Investors, Pam Schmidt, Vice President, Investor Relations
Investor Relations: 210-918-INVR (4687)
or
Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer,
Corporate Communications: 210-918-2314