Chevron Technology Ventures builds state-of-the-art digital makerspace to partner and test emerging technologies

HOUSTON--(BUSINESS WIRE)--The Founders District, an experiential mixed-use community in West Houston, welcomes Chevron to the building that houses The Cannon, a flexible workspace and innovation hub. Chevron is creating a digital makerspace where they will partner with start-up companies and community organizations in Houston’s innovation ecosystem to test emerging technologies that add efficiencies to their business and operations. Chevron will join Corva, Texas Citizens Bank, and Baker Tilly in the western portion of the Cannon building, directly off Brittmoore Road.

Chevron has been a key sponsor of The Cannon since 2018, occupying a branded office space within the innovation hub. The company recently executed a new lease agreement for a significantly larger footprint at The Cannon.

“Chevron’s support for The Founders District and The Cannon expands our commitment to Houston’s growing innovation ecosystem,” said Barbara Burger, Chevron vice president, Innovation and president of Chevron Technology Ventures. “We look forward to utilizing this new space to collaborate with other Chevron organizations, such as our Wells group, as we work to deliver more reliable, affordable, ever-cleaner energy.”

“We are thrilled to partner with Chevron Technology Ventures in developing this exciting makerspace at The Founders District,” said Mark Toon, Chief Executive Officer of Puma Development, the company developing The Founders District and founder of Work America Capital, a venture capital firm dedicated to investing in Houston-based businesses. “CTV is the paradigm for meaningful innovation in Houston. By investing in emerging technologies in energy, they are paving the way for innovation to remain at the heart of Houston’s most prominent industry.”

One of Chevron’s first onsite collaborations is planned with their Wells group, the drilling and completions arm of the company.

“In addition to providing hands-on experience for our engineers with edge communications and technology, the space will allow us to demonstrate and test digital workflows and other technologies before taking them out to the field,” said Kim McHugh, vice president, Chevron Wells. “We can work out kinks, collaborate with partners, and improve solutions iteratively while eliminating the costs and safety risk associated with deploying to our remote operations.”

About the Founders District

The Founders District is a revolutionary mixed-use campus in west Houston. Anchored by The Cannon, one of the largest and most innovative flexible workspaces in the world, the Founders District is a beacon of innovation, technology, and the elevated consumer experience. The walkable, 32+ acre campus will comprise experiential retail, dynamic entertainment, unique food & beverage, top-notch fitness, multifamily residential, commercial office, and more. To stay up to date on all developments at The Founders District, please visit our website at https://www.foundersdistrict.com/.

About The Cannon

The Cannon is a flexible workspace and digital ecosystem that builds and operates curated entrepreneurial and creative communities across a growing number of locations as well as a digital platform to serve and connect entrepreneurs globally. Currently, there are more than 300 companies in The Cannon community working at The Cannon – Main Campus, a brand new 120K square foot. converted warehouse located at the center of the 32-acre Founders District on the west side of Houston, just north of Interstate 10 and Beltway 8, at The Cannon – Post Oak and The Cannon – Downtown, which opened in December 2019 at the Amegy Bank Tower in Downtown Houston. The Cannon’s flagship Main Campus location, one of the largest coworking and office spaces in the world, plans to headquarter a community of more than 800 of Houston’s most accomplished entrepreneurs, startups, and small businesses, surrounded by service providers and resources geared to help their businesses grow. For more information visit https://thecannon.com.

About Chevron Technology Ventures

Chevron Technology Ventures (CTV) pursues externally developed technologies and new business solutions that have the potential to enhance the way Chevron produces and delivers affordable, reliable, and ever-cleaner energy. CTV leverages innovative companies and technologies to strengthen Chevron’s core operations and identifies new opportunities to shape the future of energy. For more information, visit www.chevron.com/technology/technology-ventures.

The Founders District: Mark Toon, This email address is being protected from spambots. You need JavaScript enabled to view it.
The Cannon: John Lambert,
This email address is being protected from spambots. You need JavaScript enabled to view it.
Chevron: Mary Murrin, This email address is being protected from spambots. You need JavaScript enabled to view it.

Patented technology enables industry-transforming, dynamic battery synchronization and control for optimal battery operation and longevity

COSTA MESA, Calif.--(BUSINESS WIRE)--#AI--Veritone, Inc. (Nasdaq: VERI), the creator of the world’s first operating system for artificial intelligence, aiWARE™, today announced that it has received three new patents for its battery control technology, bringing the total number of issued patents covering its Veritone Energy Solutions to 13, with another 16 patent applications pending.

The new patented technologies enable dynamic, real-time synchronization and control of batteries to ensure optimal power distribution and battery life, helping to enable a reliable, cost-efficient green energy grid. The technologies empower utilities, independent service providers and battery providers with ground-breaking ways to address the very real Distributed Energy Resource (DER) integration challenges of suboptimal battery operation, overheating and failures that introduce safety concerns and cost companies millions in equipment damage each year.

“As the world transitions to renewable energy, whether it be wind, solar, or hydroelectric, the unpredictable nature of these green energy sources and the resulting energy supply and demand imbalances must be resolved if we are to achieve our green energy goals,” said Chad Steelberg, CEO of Veritone. “While deploying batteries to provide energy storage and smoothing seems like an obvious and simple solution, the technical hurdles to accomplish it at scale in the real-world are challenging. AI-based battery control and synchronization is necessary, now more than ever. Veritone has developed proprietary machine learning algorithms, now protected by several U.S. patents, to meet this pressing need.”

These battery control patents complement Veritone’s patented AI-based energy solutions for predictive real-time control, management and adaptation of smart grids. By applying advanced models, rules and learning to weather forecast, energy demand, pricing, and device data, Veritone Energy Solutions help utilities automatically predict optimal energy supply mix and pricing to meet grid demand, in real-time.

The following new battery control patents have been issued to Veritone:

• The first patent (U.S. Patent No. 10,601,316) is generally related to techniques for automated, real-time and dynamic control of battery power (charging or discharging) based on its current charge state, to optimize battery operation and increase battery longevity. The patent also includes the ability to synchronize power across multiple batteries across a farm or microgrid to ensure ideal power across the systems.
• The second patent (U.S. Patent No. 10,666,076) is generally related to techniques for dynamic control of batteries by continuously updating control models based on the battery's current state and behavior, thereby optimizing battery operation and increasing battery longevity. The current state is measured by sensing variations in battery output as a result of input excitation signals sent to the battery.
• The third patent (U.S. Patent No. 10,816,949) is generally related to techniques for battery control system impedance actuators that optimally control the battery based on its current charge state and thermal state, reducing power dissipation and increasing battery life. The patent also includes the ability to use a mean field game representation to synchronize battery power delivery across multiple control systems present in a battery farm or microgrid.

“Other battery control solutions rely on day-ahead forecasting and steady state battery operation, which are not realistic in today’s distributed, unpredictable clean energy grids,” said Dr. Wolf Kohn, Chief Data Scientist at Veritone. “Our battery control technology, represented in the three new patents we have been granted, is unique in that it is based on real-time AI that predicts energy supply and demand minutes ahead, instead of days, and is based on the dynamic conditions of the battery and the operating environment at any given time.”

“Veritone’s dynamic battery control and synchronization technology helps independent service providers and battery providers optimize battery operation, reduce power dissipation and prolong battery life,” said Adje Mensah whose firm A.F. Mensah, Inc. develops and operates solar and battery storage projects. “With its innovative intelligent battery management technology, Veritone’s ability to leverage massive amounts of historical and real-time data to balance energy supply and demand is unique in the market, and truly transformative when it comes to solar forecasting and optimal dispatch for battery farms and microgrids.”

Veritone Energy’s Solutions include: Forecaster, which accurately detects and predicts energy supply, demand and price; Optimizer, which makes AI-based energy supply determinations; Controller, for predictive device control and active synchronization, combining energy sources to optimally satisfy demand; and Arbitrage, for buying, selling and dispatching energy. Veritone aiWARE, the leading cognitive operating system, provides deployment, integration, data services and weather services to these solution components. Veritone Energy’s highly customizable solutions can be applied to solve a wide range of challenges facing the industry, including solar smoothing, demand response, micro-grid synchronization, intelligent device control, voltage optimization, regulatory compliance, dispatch optimization and high-speed energy arbitrage. Its highly-differentiated solutions are covered by 13 patents issued in the United States and other countries, with an additional 16 applications pending.

For more information on Veritone Energy patented technology, including the scientific research behind it, please click here. To learn more about Veritone Energy solutions, please visit: https://www.veritone.com/solutions/energy/.

About Veritone

Veritone (NASDAQ: VERI) is a leading provider of artificial intelligence (AI) technology and solutions. The company’s proprietary operating system, aiWARE™, powers a diverse set of AI applications and intelligent process automation solutions that are transforming both commercial and government organizations. aiWARE orchestrates an expanding ecosystem of machine learning models to transform audio, video, and other data sources into actionable intelligence. The company’s AI developer tools enable its customers and partners to easily develop and deploy custom applications that leverage the power of AI to dramatically improve operational efficiency and unlock untapped opportunities. Veritone is headquartered in Costa Mesa, California, and has offices in Denver, London, New York and San Diego. To learn more, visit Veritone.com.

Safe Harbor Statement

This news release contains forward-looking statements, including without limitation statements regarding the Company’s patents, the features and performance of its aiWARE Energy solutions and their expected benefits to customers. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Assumptions relating to the foregoing involve judgments and risks with respect to various matters which are difficult or impossible to predict accurately and many of which are beyond the control of Veritone. Certain of such judgments and risks are discussed in Veritone’s SEC filings. Although Veritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Veritone or any other person that their objectives or plans will be achieved. Veritone undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Allison Zullo
Walker Sands, for Veritone
This email address is being protected from spambots. You need JavaScript enabled to view it.
330-554-5965

HOUSTON--(BUSINESS WIRE)--P97 Networks, a leader in cloud-based mobile commerce, will enable mobile payments for fuel from within the Google Pay mobile app. Google Pay, a safe, helpful way to pay and manage money, is now available both on Android and iOS. Using the P97 Networks’ mobile payment gateway, drivers using the Google Pay app will be able to locate and fill up gas at Shell gas stations.

“We are excited to collaborate with Google Pay,” Donald Frieden, founder and CEO of P97 said. “We are confident that these new capabilities will improve fueling experiences at the pump. and serve as a stepping stone to future innovations for pay-at-pump experiences.”

About P97 Networks, Inc.
P97 Networks provides secure cloud-based mobile commerce and digital marketing solutions for the convenience retail and fuels marketing industries under the brand name PetroZone. P97’s commerce solutions enhance the ability of convenience store operators, marketers, and oil companies to attract and retain customers by providing technology that securely connects millions of individual mobile phones and connected cars with identity and geolocation-based software technology to create unique connected-consumer experiences.

@p97networks
www.p97.com

P97 Media Contact
Aaron Mireles
(281) 954-1706
This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced its commitment to set science-based targets to reduce greenhouse gas (GHG) emissions. The Company submitted its commitment letter to the Science Based Targets initiative (SBTi), a collaboration between CDP, the United Nations Global Compact, World Resources Institute, and the World Wide Fund for Nature. With this commitment, Halliburton will submit targets in 2021 with pending SBTi validation by 2022. Halliburton joins over 1000 global companies who have committed to set emissions reduction targets grounded in climate science through the SBTi.

“Our SBTi commitment reinforces our sustainability goals while helping our customers provide the world with affordable and reliable energy,” said Halliburton Chairman, President & CEO Jeff Miller. “Our industry plays an important role in reducing greenhouse gas emissions and provides us a great opportunity to do what we do best: innovate, collaborate, and execute to drive efficiencies and affect change.”

Science-based targets are emissions reduction targets in line with what the latest climate science outlines is necessary to meet the goals of the Paris Accord, which seeks to limit global warming to well below 2oC above pre-industrial levels.

ABOUT HALLIBURTON

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 140 nationalities in more than 80 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

For Investors:
Abu Zeya
Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
281-871-2688

For News Media:
Emily Mir
External Affairs
This email address is being protected from spambots. You need JavaScript enabled to view it.
281-871-2601

FORT WORTH, Texas--(BUSINESS WIRE)--Lonestar Resources US Inc. (NASDAQ: LONE) (including its subsidiaries, “Lonestar,” “we,” “us,” “our” or the “Company”) today reported financial and operating results for the three months ended September 30, 2020.

HIGHLIGHTS

• Lonestar reported an 8% increase in net oil and gas production to 14,419 BOE/d during the three months ended September 30, 2020 (“3Q20”), compared to 13,339 BOE/d for the three months ended June 30, 2020 (“2Q20”). Production was comprised of 73% crude oil and NGL’s on an equivalent basis.
• Lonestar reported a net loss attributable to its common stockholders of $38.5 million during 3Q20 compared to a net loss of $42.9 million during 2Q20. Excluding, on a tax-adjusted basis, certain items that the Company does not view as either recurring or indicative of its ongoing financial performance, Lonestar’s adjusted net income for 3Q20 was $23.0 million. Most notable among these items include: a $48.4 million change in unrealized (non-cash) hedging loss on financial derivatives (‘mark-to-market’) and $12.4 million of non-recurring G&A expense related to restructuring expenses. Please see Non-GAAP Financial Measures at the end of this release for the definition of Adjusted Net Income (Loss), a reconciliation of net income (loss) before taxes to Adjusted Net Income (Loss), and the reasons for its use.
• Lonestar reported Adjusted EBITDAX for 3Q20 of $32.5 million. On a sequential basis, Adjusted EBITDAX remained flat due to stringent cost management and substantial hedging. Please see Non-GAAP Financial Measures at the end of this release for the definition of Adjusted EBITDAX, a reconciliation of net (loss) income attributable to common stockholders to Adjusted EBITDAX, and the reasons for its use.

OPERATIONAL UPDATE

• Production- Lonestar reported an 8% increase in net oil and gas production to 14,419 BOE/d during the three months ended September 30, 2020. 3Q20 production volumes consisted of 7,190 barrels of oil per day (50%), 3,325 barrels of NGLs per day (23%), and 23,424 Mcf of natural gas per day (27%). This increase was attributable to Q2 shut-ins and the Hawkeye 14H-16H coming online.
• Wellhead Pricing- Lonestar’s wellhead crude oil price realization was $37.08/Bbl, which reflects a discount of $3.86/Bbl vs. WTI. Lonestar’s realized NGL price was $10.47/Bbl, or 26% of WTI. Lonestar’s realized wellhead natural gas price was $2.03 per Mcf, reflecting a $0.03 premium to Henry Hub.
• Revenues- Wellhead revenues improved by $14.9 million to $32.1 million, or 86%, compared to the three months ended June 30, 2020 (“2Q20”), primarily driven by a 80% increase in oil price realizations and a 59% increase in NGL price realizations, partially offset by a 29% decrease in natural gas price realizations.
• Expenses- In response to the downturn in oil and gas prices in 2020, Lonestar has made an organization-wide effort to reduce operating costs, focused on a combination of streamlining internal processes and seeking cost reductions from its vendors and service providers. Those organizational expense reductions are beginning to be reflected in the Company’s financial results. In the third quarter of 2020, total cash expenses, which include the cash portions of lease operating, gathering, processing, transportation, production taxes, general & administrative and interest expenses were $35.0 million for 3Q20, which reflects a 58% increase compared to $22.1 million in 2Q20. On a per-unit basis total cash expenses for 3Q20 and 2Q20 were $26.42 and $17.60, respectively. Excluding the incremental professional fees of $12.4 million incurred related to our restructuring, total cash expenses were $22.6 million for 3Q20, representing a 2% increase from the previous quarter. On a per-unit basis, 3Q20 total cash expenses per BOE were reduced by 4%, from $17.60 / BOE in 2Q20 to $17.07 / BOE in 3Q20.
  • Lease Operating Expenses (“LOE”), excluding rig standby costs of $0.2 million, were $4.8 million for 3Q20, which was 18% higher than LOE of $4.0 million in 2Q20. On a unit-of-production basis, LOE per BOE increased 8% quarter over quarter to $3.59 per BOE in 3Q20. Increased LOE was driven entirely by the fact that Lonestar produced at 100% of capacity in 3Q20 after shutting in a substantial portion of its production in 2Q20.
  • Gathering, Processing & Transportation Expenses (“GP&T”) for 3Q20 were $1.9 million, which was 116% higher than the GP&T of $0.9 million in the three months ended 2Q20. On a unit-of-production basis, GP&T increased 98% quarter over quarter from $0.72 per BOE in 2Q20 to $1.43 per BOE in 3Q20.
  • Production and ad valorem taxes for 3Q20 were $2.0 million, which was 17% higher than production taxes of $1.7 million in 2Q20. On a unit-of-production basis, production and ad valorem taxes increased 6% quarter over quarter from $1.42 per BOE in 2Q20 to $1.50 per BOE in 3Q20. Increased production and ad valorem taxes were a function of higher wellhead revenues.
  • General & Administrative Expenses (“G&A”) in 3Q20 were $15.8 million vs. $5.9 million in 2Q20. The significant increase was primarily due to incremental professional fees incurred related to our restructuring, totaling $12.4 million for the quarter. Excluding stock-based compensation, on a unit-of-production basis, G&A per BOE increased 177% quarter over quarter from $4.87 per BOE in 2Q20 to $11.92 per BOE in 3Q20. Excluding professional fees of $12.4 million related to restructuring, G&A per BOE decreased 40% quarter over quarter from $4.87 per BOE in 2Q20 to $2.57 per BOE in 3Q20.
  • Interest expense was $11.4 million for 3Q20 vs. $10.5 million for 2Q20. Excluding amortization of debt issuance cost, premiums, and discounts, Interest expense increased 9% quarter over quarter from $9.9 million in 2Q20 to $10.8 million in 3Q20. On a unit-of-production basis, interest expense per BOE decreased 0.5% from $8.16 per BOE in 2Q20 to $8.12 per BOE in 3Q20.

EAGLE FORD SHALE TREND - WESTERN REGION

In our Western Region, production for 3Q20 averaged approximately 7,961 BOE per day, a 2% increase from 2Q20 production. Production consisted of 2,756 barrels of oil per day (35%), 2,367 barrels of NGL’s per day (30%) and 17,027 Mcf of natural gas per day (36%). The Western Region accounted for 55% of the Company’s production during the quarter. No new wells were completed during 3Q20. However, production increased in 3Q20 after the Company returned all of its wells to full production after shutting in certain wells during 2Q20 in reaction to historically low prices.

EAGLE FORD SHALE TREND - CENTRAL REGION

In our Central Region, 3Q20 production averaged approximately 6,242 BOE/d, a 18% increase compared to 2Q20 rates. Production consisted of 4,339 barrels of oil per day (70%), 893 barrels of NGL’s per day (14%), and 6,060 Mcf of natural gas per day (16%). The increase in production was largely driven by the shut-in of crude oil production volumes all of our wells in Gonzales, Karnes, Fayette and Lavaca Counties. The Central Region accounted for 43% of the Company’s production during the quarter.

In June, Lonestar began flowback operations on the Hawkeye #14H, Hawkeye #15H, and Hawkeye #16H. These recorded maximum rates over a 30-day period (“Max-30 rates”) of 1,461 BOE/d, 86% of which was crude oil. Now, through their first 120 days of production, these wells have produced an average of 111,000 barrels of crude oil.

• Hawkeye #14H – With a 10,979’ perforated interval, the #14H recorded Max-30 rates of 1,186 Bbls/d oil, 87 Bbls/d of NGLs, and 625 Mcf/d, or 1,377 BOE/d on a three-stream basis and was achieved on a 30/64” choke. The #14H well has been onstream for more than 4 months now, and 120-day rates have averaged 868 Bbls/d oil, 49 Bbls/d of NGLs, and 353 Mcf/d, or 976 BOE/d on a three-stream basis.
• Hawkeye #15H – With a 10,608’ perforated interval, the #14H recorded Max-30 rates 1,372 Bbls/d oil, 101 Bbls/d of NGLs, and 729 Mcf/d, or 1,595 BOE/d on a three-stream basis and was achieved on a 30/64” choke. The #15H has been onstream for more than 4 months now, and 120-day rates of 970 Bbls/d oil, 55 Bbls/d of NGLs, and 394 Mcf/d, or 1,090 BOE/d on a three-stream basis and was achieved on a 30/64” choke.
• Hawkeye #16H – With a 9,885’ perforated interval, the #16H recorded Max-30 rates 1,217 Bbls/d oil, 88 Bbls/d of NGLs, and 635 Mcf/d, or 1,411 BOE/d on a three-stream basis and was achieved on a 30/64” choke. The #16H has been onstream for more than 4 months now, and 120-day rates of 958 Bbls/d oil, 53 Bbls/d of NGLs, and 381 Mcf/d, or 1,074 BOE/d on a three-stream basis and was achieved on a 30/64” choke.

The Company holds a 50% working interest (“WI”) / 38% net revenue interest (“NRI”) in these wells.

In July, the Company completed drilling operations on the Hawkeye #33H, Hawkeye #34H, and Hawkeye #35. These wells were drilled to total measured depths of 20,500, 20,358 feet, and 20,467, respectively, and are expected to have perforated intervals averaging approximately 10,800 feet. These wells are currently held in inventory as Drilled Uncompleted (DUC’s). Lonestar expects to hold a 50% WI / 37.5% NRI in these wells.

EAGLE FORD SHALE TREND - EASTERN REGION

In our Eastern Region, 3Q20 production averaged approximately 216 BOE/d, a 4% decrease over 2Q20 rates. Production consisted of 95 barrels of oil per day (44%), 65 barrels of NGL’s per day (30%), and 337 Mcf of natural gas per day (26%). The Eastern Region accounted for 2% of the Company’s production during the quarter.

ABOUT LONESTAR RESOURCES US INC.

Lonestar is an independent oil and natural gas company, focused on the development, production, and acquisition of unconventional oil, NGLs, and natural gas properties in the Eagle Ford Shale in Texas, where we have accumulated approximately 70,876 gross (51,484 net) acres in what we believe to be the formation’s crude oil and condensate windows, as of September 30, 2020. For more information, please visit www.lonestarresources.com.

Cautionary & Forward-Looking Statements

Lonestar Resources US Inc. cautions that this press release contains forward-looking statements, including, but not limited to; Lonestar’s execution of its growth strategies; growth in Lonestar’s leasehold, reserves and asset value; and Lonestar’s ability to create shareholder value. These statements involve substantial known and unknown risks, uncertainties and other important factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: volatility of oil, natural gas and NGL prices, and potential write-down of the carrying values of crude oil and natural gas properties; inability to successfully replace proved producing reserves; substantial capital expenditures required for exploration, development and exploitation projects; potential liabilities resulting from operating hazards, natural disasters or other interruptions; risks related using the latest available horizontal drilling and completion techniques; uncertainties tied to lengthy period of development of identified drilling locations; unexpected delays and cost overrun related to the development of estimated proved undeveloped reserves; concentration risk related to properties, which are located primarily in the Eagle Ford Shale of South Texas; loss of lease on undeveloped leasehold acreage that may result from lack of development or commercialization; inaccuracies in assumptions made in estimating proved reserves; our limited control over activities in properties Lonestar does not operate; potential inconsistency between the present value of future net revenues from our proved reserves and the current market value of our estimated oil and natural gas reserves; risks related to derivative activities; losses resulting from title deficiencies; risks related to health, safety and environmental laws and regulations; additional regulation of hydraulic fracturing; reduced demand for crude oil, natural gas and NGLs resulting from conservation measures and technological advances; inability to acquire adequate supplies of water for our drilling operations or to dispose of or recycle the used water economically and in an environmentally safe manner; climate change laws and regulations restricting emissions of “greenhouse gases” that may increase operating costs and reduce demand for the crude oil and natural gas; fluctuations in the differential between benchmark prices of crude oil and natural gas and the reference or regional index price used to price actual crude oil and natural gas sales; and the other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission, or the SEC, on April 13, 2020, as well as other documents that we may file from time to time with the SEC. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

NON-GAAP FINANCIAL MEASURES (Unaudited)
Reconciliation of Non-GAAP Financial Measures

Adjusted EBITDAX

Adjusted EBITDAX is not a measure of net income as determined by GAAP. Adjusted EBITDAX is a supplemental non-GAAP financial measure that is used by management and external users of the Company’s consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. The Company defines Adjusted EBITDAX as net (loss) income attributable to common stockholders before depreciation, depletion, amortization and accretion, exploration costs, non-recurring costs, loss (gain) on sales of oil and natural gas properties, impairment of oil and gas properties, stock-based compensation, interest expense, income tax (benefit) expense, rig standby expense, other income (expense), unrealized (gain) loss on derivative financial instruments and unrealized (gain) loss on warrants.

Management believes Adjusted EBITDAX provides useful information to investors because it assists investors in the evaluation of the Company’s operating performance and comparison of the results of the Company’s operations from period to period without regard to its financing methods or capital structure. The Company excludes the items listed above from net (loss) income attributable to common stockholders in arriving at Adjusted EBITDAX to eliminate the impact of certain non-cash items or because these amounts can vary substantially from company to company within its industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Adjusted EBITDAX should not be considered as an alternative to, or more meaningful than, net (loss) income attributable to common stockholders as determined in accordance with GAAP. Certain items excluded from Adjusted EBITDAX are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of Adjusted EBITDAX. The Company’s computations of Adjusted EBITDAX may not be comparable to other similarly titled measures of other companies.

The following table presents a reconciliation of Adjusted EBITDAX to the GAAP financial measure of net (loss) income attributable to common stockholders for each of the periods indicated.

Chase Booth, 817-921-1889

• New project represents innovative, sustainable production to meet growing demand for insect protein in animal feed, a market that has potential to reach 1 million tons in 2027
• Construction of high-capacity facility to support hundreds of jobs in Decatur area, targeted to begin in 2021, pending permits and approvals

CHICAGO & PARIS--(BUSINESS WIRE)--ADM (NYSE:ADM), one of the world’s leading human and animal nutrition providers, and InnovaFeed, the world leader in producing premium insect ingredients for animal feed, today announced plans to collaborate on the construction and operation of the world’s largest insect protein production site, in Decatur, Illinois. The facility will be owned and operated by InnovaFeed and will co-locate with ADM’s Decatur corn processing complex, with ADM supplying feedstocks, waste heat and more. Together, these investments will bolster economic growth and job creation in Decatur and central Illinois while continuing to strengthen the state’s position as a center of innovative, sustainable agriculture.

“We are very pleased to launch this ambitious project, working alongside ADM and Illinois state partners as InnovaFeed expands to provide sustainable solutions to meet the fast growing demand for insect feed in the US and worldwide,” said Clement Ray, CEO and co-founder of InnovaFeed. “Around the world, InnovaFeed is contributing to the emergence of sustainable food systems by developing a pioneering and sustainable industry. Our new operations in Illinois, a global leader and destination for agriculture, will allow us to take the next steps to innovate and grow our business.”

“At a time when the demand for animal feed protein is steadily increasing, insect farming stands out as a true solution for the future,” said Chris Cuddy, ADM senior vice president and president of the company’s Carbohydrate Solutions business. “We’re excited to work with InnovaFeed on this ambitious project, which further expands our participation in the growing market for animal food and feed that comes from responsible, sustainable sources. It’s a great demonstration of how ADM is expanding its value chain by offering opportunities for collaboration to leading, innovative startups. It’s yet another example of how we’re constantly identifying new ways to create value from corn, oilseeds and more. And of course, we’re extremely proud that we can help bring this new, job-creating project to Decatur, the home of our North American headquarters.”

Insect feed has become an increasingly popular protein ingredient for the agriculture and aquaculture industries, as demand for animal feed has now reached an all-time high and consumers look for food that is sustainably and responsibly grown. InnovaFeed already operates two insect production facilities in France, including what is today the world’s largest. The Decatur facility represents InnovaFeed’s first international project.

“InnovaFeed’s decision to bring their first ever international facility and state-of-the-art agriculture technology to Illinois is a vote of confidence for our state, and a win for our farming communities,” said Governor JB Pritzker. “Illinois has always been a global leader in agriculture and technology, and we offer the resources to support this major international expansion – with an educated workforce, proximity to global businesses like ADM, and access to shipping and logistics. The investments InnovaFeed is making in Decatur will not only support our thriving agriculture industry – a cornerstone of our economy – but will unlock new well-paying jobs for our communities.”

Construction of the new high-capacity facility is expected to create more than 280 direct and 400 indirect jobs in the Decatur region by the second phase. The Illinois Department of Commerce and Economic Opportunity (DCEO) and the Illinois workNet Center will partner with InnovaFeed to develop recruiting strategies as well as on-the-job training programs. DCEO also partnered with InnovaFeed through an EDGE agreement to support this large-scale capital investment. Locally, InnovaFeed will benefit from the Decatur-Macon County Enterprise Zone and customized incentive opportunities from the City of Decatur and Economic Development Corporation of Decatur-Macon County.

Construction is targeted to begin in 2021, pending necessary permitting and approvals. Construction and production will come in two phases. When both are complete, the plant would have a target annual production capacity of 60,000 metric tons of animal feed protein derived from Hermetia Illucens, a type of fly with exceptional nutritional qualities; the plant will also have the capability to produce 20,000 metric tons every year of oils for poultry and swine rations, and 400,000 metric tons of fertilizer.

“Illinois remains open for business, and companies continue to choose Illinois for growth based on our industry strengths, talent, education and access to infrastructure,” said Illinois Department of Commerce & Economic Opportunity Director Erin Guthrie. “With agriculture a leading industry and employer for communities across our state, these investments by InnovaFeed to bring their one-of-a-kind technology will support our farmers and those who rely upon farms. We look forward to partnering with the company on ensuring our local residents have access to jobs and economic opportunity created by this exciting new project in Decatur.”

"The city of Decatur is pleased to partner with InnovaFeed to bring this unique and innovative facility to our community,” said Decatur Mayor Julie Moore Wolfe. “Not only will this project fuel both direct and indirect job creation, but it affirms that our best prospects for creating new jobs are in the agri-business sector, in partnership with our existing businesses, in a city that is an ideal place for groundbreaking advanced manufacturing. ADM, the State of Illinois, the Economic Development Corporation of Decatur-Macon County, and the City of Decatur worked together to bring this plant to Decatur. Our concierge approach results in joint incentive opportunities to support InnovaFeed’s infrastructure and operational needs."

The plant will be built using an innovative model of industrial collaboration that InnovaFeed has already demonstrated in other facilities enabling the French Biotech company to produce the insect protein with the lowest carbon footprint on the market. The plant will be co-located with ADM’s Decatur corn complex, with complementary infrastructure that will allow ADM to directly provide corn by-products to supply InnovaFeed’s innovative insect rearing process, as well as waste heat and steam. This collaborative operational model will enable the InnovaFeed facility to reduce CO2 emissions by 80 percent versus standalone production.

About ADM

At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.

About InnovaFeed

InnovaFeed is a biotech company that produces a new source of protein from insect rearing (Hermetia Illucens) for animal and plant nutrition. InnovaFeed’s mission is to participate in the rise of sustainable food systems by addressing the increasing demand for natural, healthy and competitive raw materials. Combining the largest production capacity on the market and state of the art research in biotechnology, InnovaFeed has developed an innovative technology and process enabling the production of high-quality insect ingredients at industrial scale and at a competitive price.

www.innovafeed.com

Source: Corporate Release

Press contacts:
For InnovaFeed: Marianne Rageot, +337 78 21 51 09, This email address is being protected from spambots. You need JavaScript enabled to view it.
For ADM: Jackie Anderson, 312-634-8484, This email address is being protected from spambots. You need JavaScript enabled to view it.
For State of Illinois: Lauren Huffman, 217-622-0435, This email address is being protected from spambots. You need JavaScript enabled to view it.
For Economic Development Corporation of Decatur-Macon County: Nicole Bateman, 217-369-1509, This email address is being protected from spambots. You need JavaScript enabled to view it.

First-of-its-Kind Report Calls for Policies That Reduce Production and Use of Single-Use Plastic

WASHINGTON--(BUSINESS WIRE)--In a report released today, Oceana reveals for the first time the available data on marine mammals and sea turtles swallowing or becoming entangled in plastic in U.S. waters. After surveying dozens of government agencies, organizations and institutions that collect data on the impact of plastic on marine animals, Oceana found evidence of nearly 1,800 animals from 40 different species swallowing or becoming entangled in plastic since 2009. Of those, a staggering 88% were species listed as endangered or threatened with extinction under the Endangered Species Act. Perhaps even more concerning, Oceana says the animals reflected in this report are far fewer than the true number of sea turtles and marine mammals that consume or become entangled in plastic in U.S. waters.

“Before now, the evidence that many U.S. marine mammals and sea turtles were being harmed by plastic was not compiled in one place. While there may never be a complete account of the fate of all marine animals impacted by plastic, this report paints a grim picture. The world is hooked on plastic because the industry continues to find increasingly more ways to force this persistent pollutant into our everyday routines — and it's choking, strangling and drowning marine life,” said Dr. Kimberly Warner, report author and senior scientist at Oceana. “This report shows a wide range of single-use plastic jeopardizing marine animals, and it's not just the items that first come to mind, like bags, balloons and bottle caps. These animals are consuming or being entangled in everything from zip ties and dental flossers to those mesh onion bags you see at the grocery store. We can only expect these cases to increase as the industry continues to push single-use plastic into consumers’ hands.”

Oceana’s report found that plastics affected animals at all life stages, from recently hatched sea turtles to seal mothers with nursing pups. Plastic consumption was the most prevalent problem in the animal cases reviewed, comprising 90% of the total, though entanglement also affected a significant number of marine mammals and sea turtles in heartbreaking, and sometimes gruesome, ways.

A few of the report highlights include:

• Most of the species that consumed or became entangled in plastic are endangered or threatened, including Hawaiian monk seals, manatees, Steller sea lions and all six species of U.S. sea turtle.
• In the cases where plastic ingestion was the likely cause of or contributor to death, seven involved just one piece of plastic.
• Bags, balloons, recreational fishing line, plastic sheeting and food wrappers were the most common types of identifiable plastics consumed by these animals.
• Plastic packing straps, bags, balloons with strings, and sheeting were the most common items entangling the animals.
• Some sea turtle groups consumed plastic up to three times more often than average for their species.
• Some marine mammals, such as the northern fur seal, consumed plastic up to 50 times more often than average for eared seals.
• Additional items involving entanglement or ingestion included bottle caps, water bottles, straws, plastic chairs, plastic forks, toothbrushes, children’s toys, buckets, bubble wrap, sponges, swim goggles, plastic holiday grass, sandwich bags and polystyrene cups.

The report features case studies from around the U.S., including:

• In Florida, a Kemp’s ridley sea turtle was found entangled in a plastic bag that had become filled with sand. The plastic bag had wrapped around the animal’s neck, and scientists believe the animal drowned due to the weight of the bag or suffocated from the entanglement.
• A Florida manatee likely died from the plastic bag, straw, string, pantyhose and fishing line filling its stomach and colon.
• In Virginia, a female sei whale swallowed a DVD case, which lacerated her stomach and led to gastric ulcers, harming her ability to find food.
• In New Jersey, a plastic bag was the only item found in the stomach of a dead pygmy sperm whale.
• In California, a northern elephant seal nursing a dependent pup was found with a packing strap around her neck.
• In South Carolina, a sea turtle center found almost 60 pieces of plastic that a loggerhead sea turtle defecated during its rehabilitation.

“This report is merely a snapshot of what’s happening to the animals inhabiting plastic-polluted waters around the United States — imagine how great the numbers would be if they included the animals not observed or documented by humans,” said Christy Leavitt, report author and plastics campaign director at Oceana. “Plastic production is expected to quadruple in the coming decades, and if nothing changes, the amount of plastic flowing into the ocean is projected to triple by 2040. The only way to turn off the tap and protect our oceans is for companies to stop producing unnecessary single-use plastic — and that will require national, state and local governments to pass policies ensuring they do.”

Marine animals swallow plastic when they mistake it for food, or inadvertently swallow it while feeding or swimming. Once swallowed, it can obstruct their digestion or lacerate their intestines, and all of this can interfere with their ability to feed and obtain nourishment. These problems can lead to starvation and death. When animals become entangled in plastics, they can drown, choke to death or suffer physical trauma, such as amputation and infection. Entanglement can also lead to malnutrition when it prevents their ability to feed properly.

Scientists now estimate that 15 million metric tons of plastic floods into the ocean every year. That equates to about two garbage trucks’ worth of plastic entering the ocean every minute. The U.S. plays a significant role in this global problem, generating more plastic waste than any other country, according to a 2020 study. Plastic has been found in every corner of the world and has turned up in our drinking water, beer, salt, honey and more. With plastic production growing at a rapid rate, increasing amounts of plastic can be expected to flood our blue planet with devastating consequences.

For Oceana’s report, fact sheet and other materials, please visit USA.Oceana.org/ChokingOnPlastic.

To learn more about Oceana’s campaign to stop plastic pollution, please visit usa.oceana.org/plastics.

Oceana is the largest international advocacy organization dedicated solely to ocean conservation. Oceana is rebuilding abundant and biodiverse oceans by winning science-based policies in countries that control one-third of the world’s wild fish catch. With more than 225 victories that stop overfishing, habitat destruction, pollution, and the killing of threatened species like turtles and sharks, Oceana’s campaigns are delivering results. A restored ocean means that 1 billion people can enjoy a healthy seafood meal, every day, forever. Together, we can save the oceans and help feed the world. Visit USA.Oceana.org to learn more.

Melissa Valliant, 410.829.0726, This email address is being protected from spambots. You need JavaScript enabled to view it.
Dustin Cranor, 954.348.1314, This email address is being protected from spambots. You need JavaScript enabled to view it.

DALLAS--(BUSINESS WIRE)--Trinity Industries, Inc. (NYSE:TRN) will host a virtual Investor Day today including presentations by Jean Savage, Trinity’s CEO and President; Eric Marchetto, EVP and Chief Financial Officer; as well as other members of executive management.

During the presentations, management will discuss their strategic framework for optimization and growth of the rail platform, improving pre-tax return on equity to a mid-teen range through the cycle, and a capital allocation framework for expected cash flow from operations of $1.5 – 2.0 billion generated over the next three years. The presentations will be followed by a question and answer session hosted by Trinity’s management team.

The event is set to begin at 9:00 a.m. Eastern today, November 19, 2020 and is expected run less than 3 hours. The presentation materials were filed in a Form 8K this morning and have been posted to the event webpage for investors to preview.

How to Participate:

To participate in the live video webcast, visit the Investor Relations section of the Company’s website at www.trin.net and access the Events and Presentations webpage.
A replay of the webcast and presentation materials will be available on the website for one year from the date of the event.

About Trinity Industries

Trinity Industries, Inc., headquartered in Dallas, Texas, owns businesses that are leading providers of rail transportation products and services in North America. Our rail-related businesses market their railcar products and services under the trade name TrinityRail^®. The TrinityRail platform provides railcar leasing and management services, as well as railcar manufacturing, maintenance and modifications. Trinity also owns businesses engaged in the manufacture of products used on the nation’s roadways and in traffic control, as well as a logistics business that primarily provides support services to Trinity. Trinity reports its financial results in three principal business segments: the Railcar Leasing and Management Services Group, the Rail Products Group, and the All Other Group. For more information, visit: www.trin.net.

Some statements in this release, which are not historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Trinity's estimates, expectations, beliefs, intentions or strategies for the future, and the assumptions underlying these forward-looking statements, including, but not limited to, future financial and operating performance, future opportunities and any other statements regarding events or developments that Trinity believes or anticipates will or may occur in the future, including the potential financial and operational impacts of the COVID-19 pandemic. Trinity uses the words “anticipates,” “assumes,” “believes,” “estimates,” “expects,” “intends,” “forecasts,” “may,” “will,” “should,” “guidance,” “projected,” “outlook,” and similar expressions to identify these forward-looking statements. Forward-looking statements speak only as of the date of this release, and Trinity expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Trinity’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, except as required by federal securities laws. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from historical experience or our present expectations, including but not limited to risks and uncertainties regarding economic, competitive, governmental, and technological factors affecting Trinity’s operations, markets, products, services and prices, and such forward-looking statements are not guarantees of future performance. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and “Forward-Looking Statements” in Trinity’s Annual Report on Form 10-K for the most recent fiscal year, as may be revised and updated by Trinity’s Quarterly Reports on Form 10-Q, and Trinity’s Current Reports on Form 8-K.

Investor Contact:
Jessica L. Greiner
Vice President, Investor Relations and Communications
Trinity Industries, Inc.
(Investors) 214/631-4420

Media Contact:
Jack L. Todd
Vice President, Public Affairs
Trinity Industries, Inc.
(Media Line) 214/589-8909

RIO DE JANEIRO--(BUSINESS WIRE)--#PetroRio--Petro Rio S.A. (the “Company” or “PetroRio”) (B3: PRIO3), following best corporate governance practices, informs its shareholders and the market in general the signing of an agreement with BP Energy do Brasil Ltda. for the acquisition of interests of 35.7% in the BM-C-30 Block (“Wahoo” or “Wahoo Field”) and 60% in the BM-C-32 Block (“Itaipu” or “Itaipu Field”), thus, subject to the necessary approvals, becoming the operator of both pre-salt fields.

Wahoo, with production potential of over 140 million barrels (100% of Wahoo), had oil discoveries in 2008 and carried out formation tests in 2010, and fits precisely in the Company’s value generation strategy. The Wahoo development will allow the Company to create another production cluster, which will share all infrastructure with Frade Field (including the FPSO), enabling the capture of synergies, resulting in significant and sustainable lifting cost reduction, while maintaining high levels of safety and efficiency.

Click here to access the document.

Jose Gustavo Costa
This email address is being protected from spambots. You need JavaScript enabled to view it.

Former Felix Energy executives team up to pursue large-scale, oil-weighted, producing assets

Certain funds managed by Oaktree pledge $600 million in initial equity withan option to invest an additional $300 million

DENVER--(BUSINESS WIRE)--FourPass Energy, LLC (“FourPass”), an oil and gas operating company, along with funds managed by Oaktree Capital Management, L.P. (collectively, “Oaktree”) today announced a partnership to acquire and operate large-scale, oil-weighted, producing oil and gas assets. Oaktree’s $900 million pledge includes $600 million in initial equity, with an option to upsize the commitment by $300 million.

FourPass is led by former Felix Energy executives Ben Jackson and Andrew Dunleavy, alongside a team of operations and subsurface leaders with extensive experience across the sector. In a challenging market cycle from 2013 to 2020, Felix Energy assembled, operated, and sold over $6 billion in assets, including upstream, midstream, and mineral assets. FourPass intends to build from these experiences by applying its team’s collective expertise to the current market opportunity.

The company launches with a rigorous and responsible underwriting process, prioritizing certainty of close, efficient asset integration and a low-cost operating model. As it acquires and begins operating assets, FourPass will apply this model safely and responsibly in the communities and environments where it operates.

Ben Jackson, FourPass Energy CEO, said: “Having participated in the A&D market over the past seven years, we understand the opportunity set requires a sizable equity commitment as well as flexibility and creativity when structuring transactions. Our partnership with Oaktree fulfills each of these requirements, which will be a key differentiator for us. We’ve built a strong acquisition and operations team with this opportunity in mind, and we’re proud to have Oaktree partner with us in this endeavor.”

Brook Hinchman, Co-Head of North America for the Oaktree Opportunities Funds, said: "We are excited to partner with the FourPass management team. Amidst an evolving energy landscape, the FourPass team has unparalleled experience in pursuing its strategy of acquiring producing, cash-flowing assets and delivering investor returns through excellent execution. Oaktree's equity commitment will allow FourPass to apply its proven framework to larger acquisition opportunities, which we believe will generate attractive returns to our investors over the long-term."

About FourPass Energy

Founded in 2020, FourPass Energy is a privately held upstream oil and gas operator headquartered in Denver, Colo. FourPass was formed to acquire and operate large-scale, oil-weighted, producing oil and gas assets from operators who are experiencing generational turnover, optimizing their portfolio, cleaning up their balance sheet, or other special circumstances.

For additional information, please visit the FourPass website at http://www.fourpassenergy.com

And for Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.

About Oaktree

Founded in 1995, Oaktree is a leading global investment management firm focused on alternative markets with assets under management of $124.7 billion in contrarian, value-oriented, risk-controlled investment strategies. Oaktree manages assets for a wide variety of clients, including many of the most significant investors in the world, including: 71 of the 100 largest U.S. pension plans, the main pension fund of 39 states in the United States, over 400 corporations, over 320 university, charitable and other endowments and foundations, over 400 non-U.S. institutional investors and over 15 sovereign wealth funds.

This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Floating Solar Panels Market Research Report: By Type (Stationary, Solar Tracking), Location (Onshore, Offshore), Technology (Photovoltaic, Concentrated Solar Power)- Global Industry Analysis and Demand Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The major reasons the world is now adopting floating solar panels are that they do away with the need to acquire large tracts of land and the government policies and initiatives that support their usage. Owing to these factors, the floating solar panels market, which generated revenue of $685.2 million in 2019, is predicted to advance to $2,301.8 million by 2026. Such photovoltaic (PV) panels are fixed on top of a buoyant structure, which floats on water.

On the basis of type, the industry is bifurcated into solar-tracking and stationary panels, of which the stationary bifurcation held the larger share in 2019. This is because these variants are not affected much by water currents, and they are also cheaper than solar-tracking panels. Moreover, if a panel is damaged, it is easier and more cost-effective to restructure a stationary variant. This is the reason the stationary bifurcation will keep generating the higher revenue during the forecast period (2020-2026).

The major growth driver for the floating solar panels market advance is that the technology doesn't entail the acquisition of land. Large-scale conventional PV plants require huge areas of land to generate commercially viable electricity. The land can be otherwise used for agricultural and urban development purposes, which has been restraining the growth of the global solar energy market. Thus, to keep the land free for other potential applications, the floating PV technology is being promoted around the world.

The floating solar panels market is also advancing on account of the increasing investments in renewable energy. Huge amounts of greenhouse gases (GHG) are released into the atmosphere during the combustion of gas, crude oil, and coal at power plants for generating electricity. This has been the biggest cause of air pollution, global warming, climate change, and ozone depletion. To curb environmental degradation, sustainability initiatives aimed at utilizing cleaner sources for creating electricity are being taken. This is leading to the increasing investments in renewable technologies, including floating PV plants.

Asia-Pacific (APAC) is the largest floating solar panels market presently, and it is expected to continue being so till 2026. Due to the strong government support for renewable energy, APAC is already the largest producer of solar power in the world. In addition, the strict emission-control regulations, huge demand for land for various purposes, and rising requirement for cheap electricity are driving the installation of PV panels in regional waterbodies. In most of the APAC countries, there is extremely less land to spare, on account of the booming population and expanding cities here.

Companies Mentioned

• Ciel Et Terre International
• JA Solar Technology Co. Ltd.
• JinkoSolar Holding Co. Ltd.
• Kyocera Corporation
• Ocean Sun AS
• Quant Solar
• Sharp Corporation
• Sungrow Power Supply Co. Ltd.
• Swimsol GmbH
• Tata Power Solar System Ltd.
• Topper Floating Solar PV Mounting Manufacturer Co. Ltd.

Key Topics Covered:

Chapter 1. Research Scope

Chapter 2. Research Methodology

Chapter 3. Executive Summary

3.1 Global Market Summary

3.2 U.S. Market Summary

3.3 Europe Market Summary

3.4 APAC Market Summary

3.5 ROW Market Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1 Voice of Industry Experts/KOLs

5.2 Market Dynamics

5.2.1 Trends

5.2.2 Drivers

5.2.3 Restraints/challenges

5.2.4 Impact analysis of drivers/restraints

5.3 Value Chain Analysis

5.4 Porter's Five Forces Analysis

5.4.1 Bargaining power of buyers

5.4.2 Bargaining power of suppliers

5.4.3 Intensity of rivalry

5.4.4 Threat of new entrants

5.4.5 Threat of substitutes

Chapter 6. Global Market

6.1 Overview

6.2 Market Volume, by Type (2014-2026)

6.3 Market Revenue, by Type (2014-2026)

6.4 Market Volume, by Location (2014-2026)

6.5 Market Revenue, by Location (2014-2026)

6.6 Market Volume, by Technology (2014-2026)

6.7 Market Revenue, by Technology (2014-2026)

6.8 Market Volume, by Region (2014-2026)

6.9 Market Revenue, by Region (2014-2026)

Chapter 7. U.S. Market

Chapter 8. Europe Market

Chapter 9. APAC Market

Chapter 10. RoW Market

Chapter 11. Competitive Landscape

11.1 List of Market Players and Their Offerings

11.2 Competitive Benchmarking of Key Players

11.3 Recent Strategic Developments

11.3.1 Client wins

11.3.2 Product launches

11.3.3 Partnerships

Chapter 12. Company Profiles

Chapter 13. Appendix

13.1 Abbreviations

13.2 Sources and References

13.3 About the Analyst

13.4 Related Reports

Chapter 14. About the Publisher

For more information about this report visit https://www.researchandmarkets.com/r/1rc2ga

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

HOUSTON--(BUSINESS WIRE)--BBVA USA, as Trustee of the San Juan Basin Royalty Trust (the “Trust”) (NYSE:SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $1,277,407.59 or $0.027407 per Unit, based primarily upon production during the month of September 2020, subject to certain adjustments by the owner of the Trust’s subject interests, Hilcorp San Juan L.P. (Hilcorp”), for prior months. The distribution is payable December 14, 2020, to Unit Holders of record as of November 30, 2020.

Based upon information provided to the Trust by Hilcorp, gas production for the subject interests totaled 2,218,752 Mcf (2,465,280 MMBtu) for September 2020, as compared to 2,598,335 Mcf (2,887,039 MMBtu) for August 2020. Dividing revenues by production volume yielded an average gas price for September 2020 of $1.87 per Mcf ($1.68 per MMBtu), as compared to an average gas price for August 2020 of $1.52 per Mcf ($1.37 per MMBtu).

Hilcorp has advised the Trust that the September 2020 reporting month included additional profits of $71,802 gross ($53,852 net to the Trust) based on true-ups for the October 2017, November 2017, December 2017, and April 2020 production months and corrections to the August 2017, September 2017 and March 2020 production months.

Hilcorp also reported that for the reporting month of September 2020, revenue included an estimated $100,000 for non-operated revenue. For the month ended September 2020, Hilcorp reported to the Trust capital costs of $5,160, lease operating expenses and property taxes of $1,868,950, and severance taxes of $722,518.

Except for historical information contained in this news release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally are accompanied by words such as “estimates,” “anticipates,” “could,” “plan,” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, certain information provided to the Trust by Hilcorp, volatility of oil and gas prices, governmental regulation or action, litigation, and uncertainties about estimates of reserves. These and other risks are described in the Trust’s reports and other filings with the Securities and Exchange Commission.

San Juan Basin Royalty Trust
BBVA USA, Trustee
2200 Post Oak Blvd., Floor 18
Houston, TX 77056
website: www.sjbrt.com
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Joshua R. Peterson, Head of Trust Real Assets & Mineral Resources
and Senior Vice President
Kaye Wilke, Investor Relations, toll-free: (866) 809-4553

LONDON--(BUSINESS WIRE)--#FiredHeatersMarket--The fired heaters market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the fired heaters market. Download free report sample

"One of the primary growth drivers for this market is the rise in global oil and gas refinery capacity”, says a senior analyst for Industrials at Technavio.

The rise in oil and gas demand has led to a significant increase in global refinery capacity. Many oil and gas E&P companies are focusing on the addition of new refineries or expanding existing refinery complexes. This is expected to create huge growth opportunities for market players during the forecast period. As the markets recover Technavio expects the fired heaters market size to grow by USD 135.78 million during the period 2020-2024.

Fired Heaters Market Segment Highlights for 2020

• The fired heaters market is expected to post a year-over-year growth rate of 0.93%.
• In 2019, the global fired heaters market saw maximum demand for fired heaters from end-users in the oil and gas industry.
• The growth of the market in the oil and gas segment will be significant during the forecast period.

Regional Analysis

• 48% of the growth will originate from the APAC region.
• The growth of the market is driven by capacity expansions in the food and beverage, oil and gas, and chemical industries.
• China and Japan are the key markets for fired heaters in APAC.

Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.

Notes:

• The fired heaters market size is expected to accelerate at a CAGR of about 3% during the forecast period.
• The fired heaters market is segmented End-user (Oil and gas, Chemicals, and Others).
• The market is fragmented due to the presence of many/few established vendors holding significant market share.
• The research report offers information on several market vendors, including Boustead Singapore Ltd., Esteem Projects Pvt. Ltd., Exotherm Corp., Linde AG, Scelerin Heaters LLC, Sigma Thermal Inc., Stelter and Brinck Ltd., Thermax Ltd., UnitBirwelco Ltd., and Wabtec Corp.

Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.technavio.com/

Selected projects to reach more than 20,000 students nationwide in grade 6 through college

BALTIMORE--(BUSINESS WIRE)--#EnergyMadeEfficient--Constellation today awarded more than $500,000 in E² Energy to Educate grants for student projects focusing on energy science, technology and education. The grant program is part of the commitment by Constellation, and parent company Exelon, to give back to the communities where they work and live and foster greater interest in STEM programs.

The 22 hands-on STEM projects awarded grants will reach more than 20,000 students, in grade 6 through college.

Selected projects include carbon reduction experiments, building and racing electric- and solar-powered cars, summer camps exploring renewable energy, and game-based learning for STEM and energy concepts. For the complete list of winning projects spanning 10 different states visit the E² grants page.

“Though the clean energy landscape is constantly evolving, one thing remains the same — the importance of energy innovation and STEM education to prepare future energy leaders,” said Jim McHugh, Constellation CEO. “We’re committed to investing in and empowering young people from diverse backgrounds to help propel us toward a cleaner energy future, and we take immense pride in how Energy to Educate supports hands-on experiences that develop and inspire those students nationwide.”

Constellation’s Energy to Educate program is one example of an Exelon-wide commitment to foster workforce development solutions with the goals of igniting STEM in young minds, creating an expanded, diverse talent pipeline, and eliminating barriers to economic empowerment, particularly in underserved communities.

Since its inception in 2010, E² has provided more than $4.5 million in funding for 163 projects that have reached more than 220,000 students and enhanced their understanding of energy-related science and technology issues. Grant recipients are announced each year during American Education Week. To learn more about the program, visit the community section of Constellation.com.

About Constellation

Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation's family of retail businesses serves approximately 2 million residential, public sector and business customers, including more than three-fourths of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with 2019 revenues of approximately $36 billion, and more than 31,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com or on Twitter at @ConstellationEG.

Dave Snyder
Constellation
410-470-9700
This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Gas Station Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The publisher brings years of research experience to the 6th edition of this report. The 137-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global Gas Station Equipment Market to Reach $6.8 Billion by 2027

Amid the COVID-19 crisis, the global market for Gas Station Equipment estimated at US$5.3 Billion in the year 2020, is projected to reach a revised size of US$6.8 Billion by 2027, growing at a CAGR of 3.5% over the period 2020-2027.

The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 6.4% CAGR

The Gas Station Equipment market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2027 trailing a CAGR of 6.4% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.1% and 2.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR.

Competitors identified in this market include, among others:

• Beijing Sanki Petroleum Technology Co., Ltd.
• Bennett Pump Company
• Chengdu Huaqi Houpu Holding Co., Ltd.
• Dem. G. Spyrides S. A.
• Dover Corporation
• Gilbarco Veeder-Root
• Scheidt & Bachmann GmbH
• Wayne Fueling Systems LLC
• Zhejiang Datian machine Co., Ltd.

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Global Competitor Market Shares
• Gas Station Equipment Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
• Impact of COVID-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

• Total Companies Profiled: 41

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Appointment highlights the firm’s commitment to help the oil and gas industry address restructuring and turnaround issues

HOUSTON--(BUSINESS WIRE)--Leading global professional services firm Alvarez & Marsal (A&M) has promoted Managing Director Seth Bullock to Co-Head of the Southern Region for its North American Restructuring & Turnaround division alongside Managing Directors Brian Cejka and Jonathan Hickman. Mr. Bullock’s promotion strategically combines A&M’s deep restructuring capabilities and operational expertise to help oil and gas clients navigate current and anticipated disruption challenges.

Mr. Bullock leads A&M’s Oil & Gas Restructuring practice and advises distressed companies, lenders and creditors on both in-court and out-of-court restructurings and turnarounds. He has more than 20 years of restructuring, interim management, liquidity management, distressed investing, capital raising and distressed mergers and acquisitions (M&A) expertise concentrated across the energy spectrum, including exploration and production (E&P), oilfield service, midstream, biofuel / renewables, power and refining and marketing.

“Seth has been fundamental to the extraordinary growth and expansion of our restructuring work in the oil and gas industry and the Southern region,” said Jeff Stegenga, Managing Director and leader of Alvarez & Marsal’s North American Commercial Restructuring practice. “When Seth joined A&M in 2014, his goal was to build a world-class oil and gas restructuring practice. He has more than achieved this through steadfast dedication to the firm’s leadership, action, results approach and unwavering commitment to his clients. His accomplishment illustrates how A&M’s integrated platform and the firm’s heritage of operational excellence generate value for our clients while fostering opportunities for career growth.”

Lee Maginniss, a Managing Director with Alvarez & Marsal’s Corporate Performance Improvement practice, said, “Shifts within the oil and gas industry will reverberate with clients for years to come. Leaders such as Seth, coupled with A&M’s continued commitment to the sector, enhance our ability to address clients’ complex concerns with solutions spanning from turnaround advisory to operational improvement.”

Mr. Bullock earned a bachelor’s degree in finance from Loyola University, New Orleans. He is a CFA Charterholder and a member of the Turnaround Management Association. He continues to make his home in Houston, Texas, with his wife Rochelle and their four children.

About Alvarez & Marsal

Companies, investors and government entities around the world turn to Alvarez & Marsal (A&M) for leadership, action and results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services. When conventional approaches are not enough to create transformation and drive change, clients seek our deep expertise and ability to deliver practical solutions to their unique problems.

With over 5,000 people across four continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, leverage A&M’s restructuring heritage to help companies act decisively, catapult growth and accelerate results. We are experienced operators, world-class consultants, former regulators and industry authorities with a shared commitment to telling clients what’s really needed for turning change into a strategic business asset, managing risk and unlocking value at every stage of growth.

To learn more, visit: AlvarezandMarsal.com. Follow A&M on LinkedIn, Twitter, and Facebook.

Kelsey Eidbo, +1 415-732-7804, +1 415-505-0392
Infinite Global

Sandra Sokoloff, Senior Director of Global Public Relations
Alvarez & Marsal, +1 212-763-9853, +1 917-940-8361

Bruce Bain to Create, Lead and Grow Network of Business Partners to Further Scale the Company, Provide Smart Contracts to Industry

HOUSTON--(BUSINESS WIRE)--#blockchain--Data Gumbo today announced that it has hired Bruce Bain as Vice President of Channels and Alliances. In this role, Bain will build and lead a network of business partners that will aid in commercially scaling GumboNet™, the company’s massively interconnected industrial blockchain network. Bain has more than 23 years experience leading global partner programs and managing top-performing channel partners at BMC, Oracle, NetIQ and SAP.

“Bruce has a proven and extensive track record of building sales velocity and customer success through technology partnership and channel programs. We are thrilled that he will build and manage our new ecosystem to further propel customer adoption,” said Andrew Bruce, CEO of Data Gumbo. “The experience that Bruce brings to the table around enterprise technology solution delivery, SaaS customer lifecycle success, channel leadership and sales growth will be critical to expanding adoption of GumboNet, as it’s now well recognized that solid and valuable alliance and partnership programs directly correlate to technology sales.”

Bain has been in the Houston technology industry and channel partner ecosystem for more than 25 years, including a focus on serving oil & gas and manufacturing-related industries. During his time at Oracle he repeatedly created successful Go-To-Market strategies to amplify and extend enterprise software solutions through partners (VAR, ISVs, MSPs and SIs). As well, at SAP he successfully managed partners’ evolutions from perpetual license sales to SaaS solutions.

“Data Gumbo is committed to providing partners with the best opportunities for engagement, and enabling their success by building incentives and marketing programs to support their connections,” said Bain. “The opportunity for channel partners to join in Data Gumbo’s journey is vast, as the need for our trusted transactional network is exploding across heavy-asset industries and global supply chains. I look forward to building a world-class, modern partner program with focus on influencers, implementation and retention as GumboNet adoption swells in 2021 and beyond.”

Bain holds a Master of Science in Computing and Information Science from Trinity University. He is also trained and has served as an Examiner for the Malcolm Baldrige National Quality Award program, and is a Predictive Index certified partner.

About Data Gumbo

Data Gumbo provides transactional certainty for tomorrow’s industrial leaders through GumboNet™, a massively interconnected industrial blockchain network. With integrated real-time capabilities that power, automate and execute smart contracts, our network reduces contract leakage, frees up working capital, enables real-time cash and financial management and delivers provenance with unprecedented speed, accuracy, visibility and transparency. Headquartered in Houston, Texas, Data Gumbo has a subsidiary office in Stavanger, Norway. To date, the company has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator. For more information, visit www.datagumbo.com or follow on LinkedIn, @DataGumbo and Facebook.

Gina Manassero
Data Gumbo
This email address is being protected from spambots. You need JavaScript enabled to view it.

New Hire Represents Investment in Future Expansion

CAMPBELL, Calif.--(BUSINESS WIRE)--#energy--Tigo Energy, the worldwide leader in Flex-MLPE (Module Level Power Electronics) today announced that industry veteran Dru Sutton has joined Tigo Energy Inc. as its new VP of Sales for North America.

Sutton has significant experience in many facets of the solar industry including power electronics, battery storage, solar modules, and EPC (Engineering, Procurement, Construction). Tigo continues to invest to grow its business and Sutton is responsible for accelerating the company’s expansion in North America.

“Dru is an outstanding addition to our team,” said Zvi Alon, Chairman and CEO of Tigo. “His experience in the solar industry and as a commercial leader is already paying dividends for us.”

Prior to Tigo, Sutton held management positions in engineering, applications, marketing and sales at several international companies involved with solar installations, module manufacturing, distributed module electronics and inverter products including SolarEdge. Most recently, he was responsible for sales at Solaria, a Silicon Valley based high efficiency solar module company.

“Tigo is positioned extremely well in the solar industry. We are enhancing the safety and return on investment of solar installations for our customers, and I am excited to play a role in the company’s growth.” said Sutton.

Sutton installed his first grid-tied solar electric system on his California home in 1998 and holds a Bachelor of Science in Electrical Engineering from the University of California, Davis.

About Tigo

Tigo is the worldwide leader in Flex-MLPE (Module Level Power Electronics) with innovative solutions that significantly enhance safety, increase energy production, and decrease operating costs of photovoltaic (PV) systems. Tigo’s TS4 platform maximizes the benefit of PV systems and provides customers with the most scalable, versatile, and reliable MLPE solution available. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy worldwide. Tigo systems operate on 7 continents and produce gigawatt hours of reliable, clean, affordable and safe solar energy daily. Tigo's global team is dedicated to making the best MLPE on earth so more people can enjoy the benefits of solar. Visit us at www.tigoenergy.com.

John Lerch
408.402.0802 x430
This email address is being protected from spambots. You need JavaScript enabled to view it.

Upgraded fleet of smart trailers and new predictive trailer routing capability provide shippers with unmatched visibility and tendering flexibility. Carriers can now book multi-stop loops as a single shipment, and earn up to $19,000 more annually per truck while reducing empty miles.

SEATTLE--(BUSINESS WIRE)--Convoy, the nation’s most efficient digital freight network, today announced enhancements to its drop-and-hook service, Convoy Go, that provide customers with more flexible, reliable capacity, superior service levels, and real-time load visibility. As the only digital freight company to offer a nationwide drop-and-hook service, Convoy extends its leadership today through predictive trailer routing, automated reloads with batched routes, and improved telematics in its smart trailers.

The challenge with drop-and-hook service has been the complexity of matching, tracking, and routing decoupled trailers and tractors. Most carriers and brokers address this problem manually, which often results in stale data and inaccurate forecasting that in turn limits their service to dense lanes with predictable shipments. These traditional drop-and-hook services are often unable to quickly scale to meet unexpected demand surges, forcing shippers to rely on the spot market and live loads, which drive up transportation costs and introduce logistical complications.

Convoy’s technology and innovative practices address these pain points and deliver even more flexible, reliable, and efficient drop-and-hook capacity for shippers, with a nearly 100% equipment availability rate, trailers delivered 24 hours before load times, 48% lower dwell times versus live shipments, deep visibility into every load, and reduced carbon emissions. These innovations include:

Predictive Trailer Routing: This enhancement proactively routes empty trailers to customers’ facilities, while simultaneously rebalancing Convoy Go’s trailer pool. To accomplish this, Convoy uses a machine learning model, predicting several weeks in advance how many trailers customers will need across hundreds of facilities nationwide. Convoy combines these forecasts daily with historical shipment data, GPS-based trailer locations, shipment assignments, inspection reports, and driver locations, feeding it all into an optimization model that analyzes billions of trailer route permutations, ultimately picking the most efficient solution.

Automated Reloads with Batched Routes: Since Convoy launched automated reloads, which combine headhauls with backhauls, shippers have benefitted from better service due to lower carrier falloff rates, and carriers have earned more through better asset utilization, all while preventing nearly three million pounds of CO2 emissions from entering the atmosphere. Now, automated reloads support batched routes for drop-and-hook, which combine three or more runs into a single multi-stop job, providing even greater efficiency for carriers and service quality for shippers. In addition, automated reloads can now combine multiple drop-and-hook and live loads into a single trip, further reducing empty miles and improving asset utilization.

Smarter Trailers, Powered by the Internet of Things: Every Convoy Go trailer is now equipped with advanced telematics, which, combined with Convoy data, provide unmatched visibility into each load. Combinations of ultrasonic, optical laser, and radar sensors deliver real-time information to Convoy’s cloud-based data lake. A machine learning model then analyzes this data to ensure shipments are progressing as planned, automatically flagging issues that require Convoy to course-correct. As a result, Convoy and its customers know if trailers are loaded and ready for pickup, if they’re being hauled by the correct driver, if the shipment needs more time, if the trailer is available for another shipment, if a trailer needs preventative maintenance, and how many new trailers are headed inbound to each facility for loading. This automated workflow enables Convoy Go’s nationwide fleet of thousands of trailers to be remotely monitored and managed by a handful of specialists, who can make any necessary adjustments even minutes before preloading.

“Supply chain teams prefer drop-and-hook for its speed and simplicity, but traditional programs are rigid and don't respond well to market volatility,” said Ziad Ismail, chief product officer at Convoy. “With recent enhancements to Convoy Go, we're addressing the biggest challenges of drop-and-hook freight, providing flexibility to scale up during demand surges and a level of trailer visibility never before possible. This has driven unprecedented customer demand for our drop-and-hook service and contributed to strong business growth over the last year.”

Convoy Go was the first drop-and-hook service to offer loads to tens of thousands of owner-operators and small carriers in 2017, improving capacity, and then expanding nationally in 2019, providing scale. Convoy Go has thousands of digitally-enhanced trailers in its fleet and is the company's fastest-growing offering, with more than 80 shippers and shipment volume increasing 245% year over year.

Convoy Go is available today to shippers who move at least 250 full truckloads per year in the US. Learn more by visiting convoy.com/drop-and-hook.

About Convoy

Convoy is the nation’s most efficient digital freight network. We move thousands of truckloads around the country each day through our optimized, connected network of carriers, saving money for shippers, increasing earnings for drivers, and eliminating carbon waste for our planet. We use technology and data to solve problems of waste and inefficiency in the $800B trucking industry, which generates over 72 million metric tons of wasted CO2 emissions from empty trucks. Fortune 500 shippers like Anheuser-Busch, P&G, Niagara, and Unilever trust Convoy to lower costs, increase logistics efficiency, and achieve environmental sustainability targets. Convoy.com

Media Contact:
Sam Hallock
(425) 241 - 8954
This email address is being protected from spambots. You need JavaScript enabled to view it.

G7c devices now connect directly to the Blackline Cloud using 4G wireless, supported by the industry’s largest global network for connected safety

CALGARY, Alberta--(BUSINESS WIRE)--#connectedsafety--Blackline Safety Corp. (TSX.V: BLN), a global leader of gas detection and connected safety solutions, announced today that it has expanded its G7c gas detection and safety monitors to include 4G connectivity, enabling its devices to operate on 350+ mobile networks across 100+ countries. G7c wearables use a combination of wireless communications, multiple sensors and location technology to automatically detect safety and health incidents, including falls, lack of movement, exposure to environmental gases and close proximity to other employees.

To provide optimum compatibility with wireless networks on a global scale, G7c wearables now combine 4G with 3G or 2G connectivity that continues to be offered by many network providers around the world. Blackline clients further benefit from multi-carrier coverage in most countries, yielding a super-footprint comprised of two or more wireless networks, including across the United States, Canada, the United Kingdom and most European countries.

“Every day, tens of thousands of workers around the world trust Blackline Safety and our G7 cloud-connected wearables to help keep them safe in the field and throughout facilities,” said Barry Moore, VP Product Development at Blackline Safety. “Equipped with 4G connectivity, G7c devices now feature additional bandwidth to support new and innovative capabilities that we’ll offer in the future. Combined with the industry’s largest global coverage footprint, Blackline is uniquely positioned to help businesses enhance the sustainability and safety of their operations, ensuring that workers return home at the end of the day.”

Blackline’s updated G7c wearable featuring 4G technology from u-blox (SIX: UBXN), a partner and global leader in wireless communications and positioning technologies based in Thalwil, Switzerland. With the support of u-blox, G7c devices now offer greater network compatibility, a larger global coverage footprint, significantly faster data speeds and industry-leading assisted GPS location technology.

“Our collaboration with Blackline Safety demonstrates that our technology is reliable in the most critical environments around the world,” said Randy Walston, Regional Sales Director at u-blox. “With our technology, the workers that Blackline Safety helps protect will be connected at all times, enabling organizations to advance their digital transformation and expand their operations, all while knowing their people will remain safe.”

To improve safety, efficiency and quality, many businesses are transforming digitally, taking advantage of connectivity and data throughout their worksites and operations. Featuring advanced 4G technology, G7c becomes a digital hub at the heart of businesses’ digital transformations, empowering 24/7 live monitoring, emergency response and evacuation management, two-way communications, connected gas detection and push-to-talk.

Learn more about Blackline Safety’s 4G-equipped G7c device by visiting www.blacklinesafety.com/g7c-wireless-gas-detector.

About u-blox: u‑blox (SIX:UBXN) is a global technology leader in positioning and wireless communication in automotive, industrial, and consumer markets. Their smart and reliable solutions, services and products let people, vehicles, and machines determine their precise position and communicate wirelessly over cellular and short range networks. With a broad portfolio of chips, modules, and secure data services and connectivity, u‑blox is uniquely positioned to empower its customers to develop innovative and reliable solutions for the Internet of Things, quickly and cost‑effectively. With headquarters in Thalwil, Switzerland, the company is globally present with offices in Europe, Asia, and the USA. www.u-blox.com

About Blackline Safety: Blackline Safety is a global connected safety leader that helps to ensure every worker gets their job done and returns home safe each day. Blackline provides wearable safety technology, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and increase productivity of organizations in more than 100 countries. Blackline Safety wearables provide a lifeline to tens of thousands of men and women, having reported over 100 billion data-points and initiated over five million emergency responses. Armed with cellular and satellite connectivity, we ensure that help is never too far away. For more information, visit BlacklineSafety.com and connect with us on Facebook, Twitter, LinkedIn and Instagram.

INVESTOR/ANALYST CONTACT
Cody Slater, CEO
This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1 403 451 0327

MEDIA CONTACT
Heather Houston
This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1 904 398 5222
Cell phone: +1 386 216 9472