LONDON--(BUSINESS WIRE)--#WindTurbineGeneratorMarket--The global wind turbine generator market is expected to grow at a CAGR of almost 4% and register an incremental growth of 7.22 billion during 2020-2024.
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The new president-elect of the USA, Joe Biden, has announced his plans to re-enlist the United States to the Paris climate agreement of 2015 within first 100 days in office. Also, he has officially announced to make significant investments in clean energy technologies. In his manifesto, Joe Biden had presented his plans of investing about USD 400 billion over the next ten years. These developments are expected to drive investments in clean energy technologies, including wind energy. This will open significant opportunities for market players over the forecast period.
Globally, the annual investment in wind energy has increased steadily over the past few years. During 2010-2020, the annual investments in both onshore and offshore wind energy projects grew at a CAGR of 4%. The market is witnessing the widespread adoption of new wind energy plants in both developed and developing economies. In 2019, the market in the US witnessed 9,143 new onshore wind power installations compared to 7,588 installations in 2018. Similarly, in 2019, the market saw 23,760 new onshore wind power installations in China.
The market is majorly dominated by European wind turbine manufacturers such as Vestas Wind System AS, ABB Ltd., Siemens Gamesa, and others. For example, Vestas Wind System AS, a Danish manufacturer, seller, installer, and servicer of wind turbines emerged as the world's largest wind turbine supplier in 2018 with a market 20.3% market share. The company registered steady growth in the onshore wind turbine segment since 2014 but witnessed a rare dip in 2019. Other dominant players in the market include Goldwind, Siemens Gamesa, GE Renewable Energy, Envision, and others.
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Global Wind Turbine Generator Market: Application
Based on the application, the onshore wind turbines segment led the market with over 79% share in 2019. The cumulative wind installed capacity of onshore wind power stood at 542 GW globally in 2018. This is expected to grow more than three-fold by 2030 and nearly ten-fold by 2050. This can be attributed to factors such as technological innovations, enhanced reliability, lower capital requirement, and favorable policies undertaken by various countries to promote onshore wind power development.
Global Wind Turbine Generator Market Growth Across Regions
APAC currently leads the global wind turbine market. In 2019, the region generated USD 16.69 billion in revenue, and by the end of the forecast year, the market value is expected to increase to almost USD 21 Billion in revenue. The market is also registering progressive growth in other regions such as North America, Europe, and South America. Although the market saw a slight dip in the MEA region in 2020, healthy growth is expected to happen over the analysis period, and the market value in the region is estimated to increase over USD 591 million by 2024.
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Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer Landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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.
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Tigo devices are certified with more than 200 inverters from 17 different companies
CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., the worldwide leader in Flex-MLPE (Module Level Power Electronics) today announced it has received UL PVRSS (Photovoltaic Rapid Shutdown System) certifications for approximately 30 inverter models, bringing its certified inverter total to more than 200 inverters from 17 different companies. Tigo already had the largest network of certified inverters for customers to choose from and this adds even more options to the rapidly growing list.
“This is by far the biggest variety of certified inverters that are available for use with rapid shutdown devices anywhere,” said Sarah Ozga, Product Manager for Tigo. “Our customers want the freedom to choose the inverter and capacity that they want, and we are delivering it for them.”
The certified inverters range from 2.5 kW, single phase for small residential installations to 100 kW, three-phase for large commercial arrays. It also includes newly introduced residential hybrid inverters, which are designed for easy integration with energy storage systems.
In order to receive certification, every inverter family was independently tested with Tigo’s TS4 family of rapid shutdown devices accordingly to UL standards. UL’s rapid shutdown testing is the most rigid testing standard available, proving functionality, reliability and safety of rapid shutdown systems rather than basic function.
“We have certified our rapid shutdown solutions with essentially every major string inverter manufacturer,” added Ozga. “This is an amazing accomplishment and I’m very proud of our team.”
The certified inverters include the following brands:
The UL PVRSS certification fulfills a necessary safety requirement for PV Rapid Shutdown in the US National Electrical Code, whereby both the inverter and the rapid shutdown device must be tested as a “system”. Rapid shutdown devices are now required with rooftop PV installations across the vast majority of the United States. Similar requirements are being adopted and discussed throughout the world.
Customers can view the entire list of inverters that are certified with Tigo devices here.
For inquiries, contact: This email address is being protected from spambots. You need JavaScript enabled to view it.
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
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Recognized as the world leader in robotic solutions, Ecoppia maintains its competitive advantage, completing initial offering stage at $300 million valuation
HERZELIYA, Israel--(BUSINESS WIRE)--Ecoppia Scientific LTD., (TASE: ECPA), the pioneer and world leader in robotic solutions for photovoltaic solar, launched an initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE), after successfully completed the public tender phase. Ecoppia secured $82.5 million from leading institutional investors with a company valuation of $300 million.
During the public tender phase, Ecoppia marked yet another meaningful achievement as public demand reached $76.74 million, despite the fact that the company offered shares for just $1.5 million. During the institutional tender, Ecoppia received $144.7 million in demand, yet accepted only $83.3 million. Discount Capital Underwriting along with Barak Capital and Orion led the initial offering.
Ecoppia offers fully autonomous, water free robotic cleaning solutions for PV modules, ideally for large scale PV installations located in dry and arid regions. Deployed globally in utility-scale sites operated by leading energy players on three continents, Ecoppia’s solutions clean 10 million panels every night and have been field-proven to keep solar panels at a year-round peak performance while minimizing O&M costs.
Despite the unique challenges of the ongoing COVID-19 pandemic, Ecoppia has secured over 10GW of new projects over the last four quarters alone, maintaining a CAGR of booking of over 200% in the past six years.
Last July, CIM Group, the US-based investment firm, invested $40 million in Ecoppia’s shares, with $20 million directly into the company.
Ecoppia was founded in 2013 by Eran and Moshe Meller, who held 21% of the company’s shares prior to the IPO. Along with the CIM Group and the Mellers, the company’s primary stakeholders, prior to the IPO, were prominent international investors and financial institutions.
“I would like to thank our investors for their trust in Ecoppia,” said Ecoppia’s CEO, Jean Scemama. “Ecoppia serves a rapidly growing global market, and has demonstrated strong technological supremacy in all our operational regions. It is expected that manual cleaning for large-scale solar sites will become irrelevant in the coming years. Ecoppia is best positioned to maintain our competitive advantage while expanding the variety of offered services to our tier-1 clients,” he concluded.
About Ecoppia
With over 16GW of signed agreements, Ecoppia (TASE: ECPA) is a pioneer and world leader in robotic solutions for photovoltaic solar. Ecoppia’s cloud-based, water-free, autonomous robotic systems remove dust from solar panels on a daily basis leveraging sophisticated technology and advanced Business Intelligence capabilities. Remotely managed and controlled, the Ecoppia platform allows solar sites to maintain peak performance with minimal costs and human intervention. Ecoppia’s proprietary algorithms and robotic solutions make day-to-day O&M at solar sites safer, more efficient and more reliable. Publicly held and backed by prominent international investment funds, Ecoppia works with the largest energy companies across the globe, cleaning millions of solar panels every day. For more information, please visit www.ecoppia.com
Anat Cohen Segev
VP Marketing, Ecoppia
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FORT WORTH, Texas--(BUSINESS WIRE)--Lonestar Resources US Inc. (the “Company” or “Lonestar”) today announced that effective November 30, 2020, the Company has successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy, having satisfied all of the conditions to the effectiveness of its plan of reorganization (the “Plan”). Through its financial restructuring, Lonestar has eliminated approximately $390 million in aggregate debt obligations and preferred equity interests.
Effective today, Lonestar has entered into a new $225 million first-out senior secured revolving credit facility (“Revolver”) and a $60 million second-out senior secured term loan credit facility by amending and restating the Company’s existing credit agreement. At closing, Lonestar has $210 million outstanding on the revolver and a post-emergence cash balance of approximately $20.7 million.
New Board of Directors
In accordance with the Plan, today the Company appointed a newly constituted Board of Directors (the “Board”). The new Board consists of Richard Burnett, Gary D. Packer, Andrei Verona and Eric Long, in addition to Frank D. Bracken, III, Lonestar’s Chief Executive Officer.
Issuance of New Securities
Effective immediately, all existing shares of the Company’s common stock were cancelled pursuant to the Plan, and the Company issued approximately 10,000,000 shares of new common stock in the Company, par value $0.001 (the “New Common Stock”), to the holders of the Prepetition Notes (as defined in the Plan) and the Company’s old common shares and old preferred shares.
Additionally, the Company issued 555,555 Tranche 1 Warrants and 555,555 Tranche 2 Warrants to holders of Allowed Prepetition RBL Claims (as defined in the Plan) or their permitted designees, as applicable.
Advisors
The Company was represented in this matter by Latham & Watkins LLP, Hunton Andrews Kurth LLP, Intrepid Partners LLC, Rothschild & Co US Inc. and AlixPartners, LLP.
For More Information
Additional details of the Plan and the New Common Stock can be found in the Company’s prior filings with the SEC, as well as in a Current Report on Form 8-K to be subsequently filed with the SEC on or around November 30, 2020. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
About Lonestar
Lonestar is an independent energy company focused on the development, production and acquisition of unconventional oil, natural gas liquids and natural gas properties in the Eagle Ford Shale in Texas.
Forward Looking Statements
This communication includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties and projections of results of operations or of financial condition or forecasts of future events that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Words such as “could,” “will,” “may,” “assume,” “forecast,” “position,” “predict,” “strategy,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe,” “project,” “budget,” “potential,” “forward” or “continue” and similar expressions are used to identify forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this communication include statements concerning management’s expectations of plans, strategies, objectives, growth and anticipated financial and operational performance, financial prospects, business strategies, anticipated sources and uses of capital, future financial prospects and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, the effects of future litigation, including litigation relating to the Chapter 11 Cases or the restructuring. Forward-looking statements can be affected by assumptions used or by known or unknown risks or uncertainties. Consequently, no forward-looking statements can be guaranteed. These forward-looking statements speak only as of the date of this communication, and the Company expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of the Company, including the most recent Forms 10-K and 10-Q for additional information about the Company and about the risks and uncertainties related to the Company’s business which may affect the statements made in this communication.
No Solicitation or Offer
Any new securities to be issued pursuant to the restructuring transactions may not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws but may be issued pursuant to an exemption from such registration provided in the U.S. bankruptcy code. Such new securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. This press release does not constitute an offer to sell or buy, nor the solicitation of an offer to sell or buy, any securities referred to herein, nor is this press release a solicitation of consents to or votes to accept any chapter 11 plan. Any solicitation or offer will only be made pursuant to a confidential offering memorandum and disclosure statement and only to such persons and in such jurisdictions as is permitted under applicable law.
Chase Booth, 817-921-1889
Controls systems work to bolster resiliency and optimize DER assets to meet prescribed economic and environmental goals
BOULDER, Colo.--(BUSINESS WIRE)--#ControlsSystems--A new report from Guidehouse Insights examines spending on microgrid controls by technology, region, and market segment through 2029.
The success of the microgrid market rests on the shoulders of digital control platforms that can orchestrate diverse distributed energy resources (DER) into a single optimized aggregation system. Although the costly items for any microgrid are investments in DER assets, the key to project performance and the extraction value from these same assets are the controls, which often represent less than 10% or even 5% of total projects’ cost. Click to tweet: According to a new report from @WeAreGHInsights, total annual microgrid controls spending starts at $551.5 million in 2020, increasing to almost $2.8 billion annually by 2029, at a compound annual growth rate (CAGR) of 19.8%. Cumulatively, more than $14 billion is expected to be invested in microgrid controls over the next decade.
“Microgrid controls technologies are ever-evolving and vary widely,” says Peter Asmus, research director with Guidehouse Insights. “Most often a combination of hardware and software, these controls systems are the orchestrator marshaling generation, storage, and loads to bolster resiliency and optimize DER assets to meet prescribed economic and environmental goals.”
For many controls platforms, emphasis is shifting from hardware devices and on-premise gateways to software and customization performed in the cloud. As with other microgrid trends, such as a recent focus on modular offerings with standardized hardware components, the market continues to shift and grow in diversity, application, and purpose.
The report, Market Data: Microgrid Controls, forecasts spending on microgrid controls by technology, region, and market segment. It also explores the philosophies guiding future technology development. This report shows that overall spending on microgrid controls is less in 2020 than previous forecasts showed but grows faster in revenue over the forecast horizon due to shifts in technology choices favoring cloud-native software. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Market Data: Microgrid Controls, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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DUBLIN--(BUSINESS WIRE)--The "European Wind Turbine Market Outlook Update Q4 2020" report has been added to ResearchAndMarkets.com's offering.
Despite major disruptions to production & assembly, installation of new wind farms over the first half of 2020 was "Business As Usual", a similar trend to follow during Q4 2020
The wind industry supply chain experienced major disruptions in the first semester, particularly in relation to the production and assembly of wind turbine components and to imports of raw materials and other subcomponents, mainly from Asia. In Europe, many factories experienced short temporary closures. Some facilities had a reduction of workers due to the implementation of social distancing.
Consequently, the construction of new wind farms in Europe was impacted both when the COVID-19 outbreak in Asia disrupted supply chains, as well as when lockdown policies across several European countries affected the movement of workers and goods soon after. However, despite major disruptions to production and assembly during Q1 and Q2 2020, the installation of new wind farms over the first half of 2020 was comparable to previous years.
Europe managed to install 5.1 GW, 3.9 GW of which were onshore and 1.2 GW were offshore. The onshore installation figures are just above the average of the previous three years (3.7 GW).
Key Topics Covered:
Companies Mentioned
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DUBLIN--(BUSINESS WIRE)--The "Oil and Gas CAPEX Outlook - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The oil and gas CAPEX is expected to grow at a CAGR of more than 8.4% during the forecast period.
Factors, such as strong profitability following a trend to reduce project costs and optimize portfolios, which has led to divestment of low-margin fields, and increased focus on investment in higher-margin growth opportunities, are expected to increase the CAPEX during the forecast period.
Moreover, LNG-oriented gas projects are witnessing increased investment, as it is a less carbon-intensive fuel and helps in the transition to a lower carbon economy. However, volatile crude oil and natural gas prices, coupled with slow economic growth at a global level, are expected to restrain the oil and gas CAPEX during the forecast period.
The upstream sector is expected to be the largest segment, which would have the highest CAPEX, as several region's state-owned firms are prioritizing domestic oil and gas projects to improve energy security and reduce their dependence on imports.
Several greenfield projects, along with deepwater and ultra-deepwater exploration in African countries such as Senegal and Mauritania, possess ample opportunity for increased capital expenditure.
Asia-Pacific has recorded the highest gains in CAPEX and is likely to be the fastest-growing region, owing to operations of globally integrated majors along with national oil companies and new investments during the forecast period.
Key Market Trends
Upstream Sector to Dominate the Market
After the downturn in the oil and gas industry, as crude oil prices increased, the upstream sector gained momentum, and CAPEX represented a gain of 5.5% y-o-y in 2019 and 7.2% in 2018. As a number of oil and gas projects continues to increase, the upstream CAPEX is also expected to increase during the forecast period.
Asia-Pacific to Dominate the Market
Asia-Pacific is expected to witness a significant growth in the oil and gas CAPEX in the coming years due to the recent discoveries in the offshore and onshore region, coupled with increasing energy demand from countries such as China and India.
Competitive Landscape
The global oil and gas CAPEX market is moderately fragmented. Some of the key players are BP PLC, Exxon Mobil Corporation, Total SA, Chevron Corporation, and Royal Dutch Shell PLC.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Crude Oil Production and Consumption Forecast, till 2025
4.4 Natural Gas Production and Consumption Forecast, till 2025
4.5 Installed Pipeline Historic Capacity and Forecast in Kilometers, till 2025
4.6 Historic and Production Forecast of Tight Oil, Oil Sands and Crude from Deepwater in kb/d, until 2030
4.7 Recent Trends and Developments
4.8 Government Policies and Regulations
4.9 Market Dynamics
4.9.1 Drivers
4.9.2 Restraints
4.10 Supply Chain Analysis
4.11 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Sector
5.1.1 Upstream
5.1.2 Midstream
5.1.3 Downstream
5.2 Location
5.2.1 Onshore
5.2.2 Offshore
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Operator Companies
6.3.1.1 BP PLC
6.3.1.2 Royal Dutch Shell PLC
6.3.1.3 Chevron Corporation
6.3.1.4 Total SA
6.3.1.5 Exxon Mobil Corporation
6.3.1.6 Oil and Natural Gas Corporation (ONGC)
6.3.1.7 China National Petroleum Corporation (CNPC)
6.3.1.8 Cairn Oil & Gas, a vertical of Vedanta Limited
6.3.1.9 Petroleo Brasileiro SA
6.3.1.10 Equinor ASA
6.3.2 Financial Institutions
6.3.2.1 JPMorgan Chase & Co.
6.3.2.2 Citigroup Inc.
6.3.2.3 Bank of America Corp
6.3.2.4 Royal Bank of Canada
6.3.2.5 Barclays PLC
6.3.2.6 Deutsche Bank AG
6.3.2.7 Credit Suisse Group AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC), an independent California-based oil and gas exploration and production company, announced that Shawn Kerns, Executive Vice President Operations and Engineering, will be participating in the Cowen 2020 Energy Conference. He will be participating virtually on a panel titled “Carbon Capture Utilization and Storage (CCUS) Opportunities Within Upstream Oil & Gas” at 11:10 a.m. EST on December 4th.
CRC’s presentation materials will be available on the day of the event on the “Earnings and Presentations” page in the Investor Relations section on www.crc.com.
About California Resources Corporation (CRC)
California Resources Corporation (CRC) is the largest oil and natural gas exploration and production company in California. CRC operates its world-class resource base exclusively within the State of California, applying complementary and integrated infrastructure to gather, process and market its production. Using advanced technology, CRC focuses on safely and responsibly supplying affordable energy for California by Californians.
Scott Espenshade (Investor Relations)
818-661-6010
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Margita Thompson (Media)
818-661-6005
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DUBLIN--(BUSINESS WIRE)--The "North America Oil and Gas Electric Submersible Pump Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The oil and gas electric submersible pump market in North America is expected to grow at CAGR of more than 7% in the forecast period of 2020-2025.
Increasing upstream activities in the Permian basin in the United States is one of the major driving factors for the ESP market. Additionally, about 70% of the world's daily oil and gas production comes from the mature fields, which are in a state of declining production. To enhance production from these mature fields, the demand for ESP is increasing.
On the other hand, the decline in crude oil prices due to the weaker demand from the end-users has led to a decrease in the drilling activities, and thus, the demand for the ESP is also likely to be hindered. Also, a declining number of offshore wells in the United States is expected to restrain the market growth.
With 990 active onshore rigs in the United States and increasing production from the Permian basin, the onshore sector is expected to dominate the oil and gas ESP market.
The United States has one of the largest technically recoverable shale gas reserves and the second-largest tight oil reserves in the world. The availability of ample reserves is expected to create significant opportunities for ESP manufacturers and suppliers in the near future.
With oil production of 17 million barrels per day in 2019, the United States is leading the market of ESP. It is expected to continue its dominance in the forecast period.
Key Market Trends
Onshore Sector to Dominate the Market
The electric submersible pump (ESP) system is an artificial-lift system that utilizes a downhole pumping system that is electrically driven. The pump typically comprises multiple centrifugal pump sections that can be individually configured ideally for the production and wellbore characteristics of an application.
The United States to Dominate the Market
The United States was one of the largest producers of crude oil and natural gas, accounting for around 18% and 23% of the global production, respectively, in 2019. The production surged in 2019, mainly due to robust drilling in its shale reserves, led by the Permian Basin.
Competitive Landscape
The North America oil and gas electric submersible pump market is moderately consolidated. Some of the major companies include Borets International Limited, Halliburton Company, Weatherford International plc, Baker Hughes Company, and Schlumberger Limited.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Location of Deployment
5.1.1 Offshore
5.1.2 Onshore
5.2 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Halliburton Company
6.3.2 Weatherford International plc
6.3.3 National Oilwell Varco Inc.
6.3.4 Baker Hughes Company
6.3.5 Borets International Limited
6.3.6 Alkhorayef Petroleum Company
6.3.7 DOS Canada Inc.
6.3.8 Schlumberger Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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DUBLIN--(BUSINESS WIRE)--The "Natural Gas Market in India Monitor H1 2020" report has been added to ResearchAndMarkets.com's offering.
Amidst COVID 2019 pandemic, Natural gas prices in India are cut by a steep 25% beginning April, in line with the slump in global rates leading to INR 3000 crores revenue hit for giant ONGC
Stalling of manufacturing industry during the lockdown has put the economy on hold due to rise of pandemic COVID-19 in the country. Consequently, the demand for natural gas has fallen down and is expected to fall by 15-20% in Q2 2020. This shall lead to steep fall in the price of domestic natural gas price due to fall in demand.
Statistically, the domestic natural gas prices fell by 50% from USD 3.36 per MMBTU to USD 2.39 per MMBTU April 2020 onwards. Hence, State-owned Oil and Natural Gas Corp (ONGC) will lose about INR 3,000 crore in revenue and start loosing out the working capital in next quarter. However, In early 2020, there were many bullish signs coming out of India.
In January, the Government authorized $774 million to support a gas pipeline project in the northeast, anew LNG pipeline commissioned in Gujarat and another planned import facility, a floating storage unit, received a boost. At a time when demand in China was weakening due to COVID-19, there was a real sense that Indian buyers could step up and fill the void.
USPs
Key Investments
Key Trends
Must Buy for
Key Topics Covered:
Companies Mentioned
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ENGIE EPS selected by Kearsarge Energy for a 10MWh energy storage system in Massachusetts
PARIS & BOSTON--(BUSINESS WIRE)--ENGIE EPS (Paris:EPS) is pleased to announce that on the heels of over 600MWh of secured contracts in the US territories, it has now been awarded a supply contract in Massachusetts.
Boston-based developer Kearsarge Energy has selected ENGIE EPS for the supply of a 10MWh system to be deployed in Bellingham, Massachusetts that is part of a Solar plus Storage project that was awarded to Kearsarge in a competitive solicitation by the town of Bellingham.
With this award, ENGIE EPS further proves its competitiveness across the Industrial Solutions and Giga Storage product lines, which develop cutting edge energy storage systems leveraging on proprietary technology and knowhow in batteries and hydrogen since 2005.
“In less than one year, we have established a solid foothold in the US with iconic projects awarded in Guam, Hawai‘i and across New England. We are confident this project is the first in a series of fruitful collaborations with Kearsarge Energy for clean energy solution delivery”, said Carlalberto Guglielminotti, CEO and General Manager of ENGIE EPS.
“We are very pleased to have ENGIE EPS provide their expertise as Kearsarge extends its Solar-plus-Storage leadership in the Northeast as we build out our energy storage pipeline which now exceeds 100 MWh. The project once operating will provide discounted solar energy for a Massachusetts Municipality and will provide millions of dollars in lease and tax revenue to the town of Bellingham over twenty years”, added Andrew Bernstein, Managing Partner of Kearsarge Energy.
The project is slated to be online in mid-2021.
* * *
About ENGIE EPS
ENGIE EPS is the technology and industrial player within the ENGIE group that develops technologies to revolutionize the paradigm shift in the global energy system towards renewable energy sources and electric mobility. Listed on Euronext Paris (EPS: FP), ENGIE EPS is listed in the CAC® Mid & Small and the CAC® All-Tradable financial indices. Its registered office is in Paris and conducts its research, development and manufacturing in Italy.
For more information: www.engie-eps.com
About KEARSARGE ENERGY
Kearsarge Energy, based in Boston, MA, is New England’s fastest growing renewable energy project development, operations, ownership and finance company, with a dual mission to help build a more sustainable world and to provide superior returns for stakeholders and the environment. Having successfully developed and financed 140 MW and $350M of Solar since 2011, Kearsarge expects to deploy 75MW of new projects in 2020 including multiple Solar + Storage projects. Commanding a 250 MW pipeline, Kearsarge is focused on creating long-term value by working with local communities to meet the growing demand for commercial and utility-scale renewable energy projects.
Learn more at www.kearsargeenergy.com
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Futures Open Interest hits record 46.8 million contracts
Open interest in Global Energy +8% and Natural Gas +14% year-over-year
ATLANTA & NEW YORK & LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, today announced that on November 24, 2020, ICE set an open interest (OI) record of 46.8 million across all futures contracts.
As of November 24, the all-futures open interest record has been driven by year-over-year (y/y) growth in the following areas:
“We have continually expanded our network of futures contracts to help our customers achieve their risk management needs in the most capital efficient way possible,” said Ben Jackson, President of Intercontinental Exchange. “Whether its managing interest rate risk, energy risk, or providing the markets which allow our customers to price climate risk, we are focused every single day on ensuring this network effectively supports the increasing and evolving global risk management needs of our customers.”
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company and provider of marketplace infrastructure, data services and technology solutions to a broad range of customers including financial institutions, corporations and government entities. We operate regulated marketplaces, including the New York Stock Exchange, for the listing, trading and clearing of a broad array of derivatives contracts and financial securities across major asset classes. Our comprehensive data services offering supports the trading, investment, risk management and connectivity needs of customers around the world and across asset classes. As a leading technology provider for the U.S. residential mortgage industry, ICE Mortgage Technology provides the technology and infrastructure to transform and digitize U.S. residential mortgages, from application and loan origination through to final settlement.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at http://www.intercontinentalexchange.com/terms-of-use. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC on February 6, 2020.
ICE- CORP
ICE Media Contact:
Rebecca Mitchell
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ICE Investor Contact:
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Source: Intercontinental Exchange
Primer cites Bidgely gas disaggregation program for Southern California Gas with over 286,000 therms savings in under four months
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--The National Association of Regulatory Utility Commissioners (NARUC) has distinguished Bidgely as an exemplary leader in artificial intelligence (AI) solutions for gas utilities in its latest primer, Artificial Intelligence for Natural Gas Utilities. This primer highlights the value of AI applications and discusses current use cases for improving the performance of natural gas utilities. Bidgely’s solution for gas utilities leverages applied AI to disaggregate appliance-level energy usage from smart and monthly-read meter data. These insights inform personalized customer experiences as well as improve energy efficiency and more accurate program targeting, as demonstrated at a recent Southern California Gas (SoCalGas®) deployment.
“It is an honor to be acknowledged by NARUC for our success in empowering gas utilities to better engage with customers through AI-powered data analytics,” said Ahbay Gupta, CEO of Bidgely. “Gas utilities and customers are an underserved market that stand to have a positive impact on lowering emissions through efficiency. Integrating AI strategies for gas utilities not only bring to light gas appliance usage but also widen the net for more customer segments to engage with. Our work with SoCalGas proves that medium consumption users can bring significant energy savings, for example, a segment traditionally overlooked.”
Bidgely together with SoCalGas deployed a modern Home Energy Reports (HER) solution, powered by Bidgely’s patented gas disaggregation technology, to increase energy savings and digital customer engagement. The program, which delivered thousands of personalized appliance-level insights alerts to SoCalGas medium consumption customers, exceeded 286,000 therms saved in less than four months and achieved a 50 percent email open rate - double the utility industry norm. Customers also gave the utility's communications an 81 percent “Like” rating.
“Engaging with our customers in a meaningful way, and truly motivating them to conserve energy, required us to understand the wants and needs of each customer on an individual level,” said Dr. Liza Legaspi, program manager at Southern California Gas. “Our program with Bidgely uses personalization, or as I call it customization, to both redefine customer segmentation and profile customers based on their energy behavior to drive significant consumption changes.”
To learn more about Bidgely’s gas solution for utilities and energy retailers visit: bidgely.com/gas.
About Bidgely
Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data - such as energy consumption, demographic, and interactions - into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, whether it is smart thermostats to EV chargers, solar PVs to TOU rate designs and tariffs; UtilityAI™ energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 17 energy patents, $50M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at bidgely.com/blog.
Christine Bennett
Bidgely
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DUBLIN--(BUSINESS WIRE)--The "Global Oil and Gas Conductor Pipe Market 2020-2024" report has been added to ResearchAndMarkets.com's offering.
The oil and gas conductor pipe market is poised to grow by $ 166.27 mn during 2020-2024 progressing at a CAGR of 4% during the forecast period.
The market is driven by the increase in global rig count, growing consumption of oil and gas, and rise in unconventional drilling activities.
This study identifies the rise in deepwater and ultra-deepwater projects as one of the prime reasons driving the oil and gas conductor pipe market growth during the next few years. Also, the declining cost of raw materials and recovering global upstream oil and gas investments will lead to sizable demand in the market.
The reports on oil and gas conductor pipe market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment.
The report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading oil and gas conductor pipe market vendors that include Cenergy Holdings SA, Essar Steel India Ltd., HANNON HYDRUALICS LLC, JFE Holdings Inc., Mertex UK Ltd., Nippon Steel Corp., PAO TMK, Schlumberger Ltd., Sumitomo Corp., and Tenaris SA.
Also, the oil and gas conductor pipe market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
For more information about this report visit https://www.researchandmarkets.com/r/i1qoqq
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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PARIS LA DÉFENSE--(BUSINESS WIRE)--The Ready to Fly portfolio of solutions offered by Thales are designed to help our airline customers restore passenger confidence in air travel during the crisis and in a post pandemic world.
With Ready to Fly, Thales InFlyt Experience is focused on expediting the industry’s digital transformation through passenger-centric solutions and integrated products as well as services that increase crew efficiency. Ready to Fly solutions enable cabin innovations that reduce touch and mitigate passenger congestion.
The Ready to Fly “touchless” solutions allow passengers to safely control the inflight entertainment system with their personal phone or tablet for a full IFE experience, including digital versions of onboard paper menus, magazines and important safety and health information. To reduce physical interactions with the crew, while maximizing services, the Thales Travel Assistant solution will enable passengers to request and receive automated information on the seatback monitor. The crew will also have the ability to gather information, receive notifications and control the cabin from their own secure personal phone or tablet.
Looking toward the future, Thales is leveraging its robust network of partners to develop cabin automation solutions that decrease congestion, facilitate aircraft disembarking, and manage passenger flow by using synthetic data.
Thales is building a future we can all trust by reimagining the way people travel using advanced and cyber-secured technologies that create a safer, and more connected, digital ecosystem.
“Most important to Thales is that we are here to support our airline customers and work with them to tackle their toughest challenges during these unprecedented times. Our solutions are highly automated, reduce the need of interaction, and increase the efficiency of airline ground and air personnel. Ready to Fly brings multiple innovations that enhance wellness in the cabin while providing the best passenger experience.” Neil James, Vice President Sales, Thales InFlyt Experience.
About Thales
Thales (Euronext Paris: HO) is a global high technology leader investing in digital and “deep tech” innovations – connectivity, big data, artificial intelligence, cybersecurity and quantum technology – to build a future we can all trust, which is vital to the development of our societies. The company provides solutions, services and products that help its customers –businesses, organisations and states – in the defence, aeronautics, space, transportation and digital identity and security markets to fulfil their critical missions, by placing humans at the heart of the decision-making process.
With 83,000 employees in 68 countries, Thales generated sales of €19 billion in 2019 (on a basis including Gemalto over 12 months).
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DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that Scott Rowe, president and chief executive officer, will present at the Credit Suisse 8th Annual Virtual Industrials Conference on December 2, 2020 at 12:30-1:00 p.m. EST.
A webcast of Mr. Rowe’s presentation will be available for shareholders and other interested parties at www.flowserve.com under the “Investor Relations” section.
About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
Purifier Kills 99% of Airborne SARS-CoV-2 in 20 Minutes and Virus is No Longer Detected in Air After 80 Minutes; Purifier Kills 99% of SARS-CoV-2 on Surfaces in 1 Hour and Virus is No Longer Detected on Surfaces After 3 Hours
BOYNTON BEACH, Fla.--(BUSINESS WIRE)--The PYURE Company announced that a recently completed study conducted by a certified, biosafety level 3 laboratory demonstrated that a portable commercial air purifier rapidly and dramatically destroys SARS Coronavirus 2 (SARS-CoV-2), the virus that causes COVID-19, both in the air and on surfaces.
The PYURE air purifier reduced airborne SARS-CoV-2 by 99% in 20 minutes and further reduced the virus in air to below the limit of detection in 80 minutes. The PYURE air purifier reduced surface-bound SARS-CoV-2 by 99% in one hour and further reduced the virus on surfaces to below the limit of detection in three hours.
“These impressive results add to our body of scientific evidence that PYURE technology rapidly and safely kills a wide range of viruses, bacteria and mold in air and on surfaces,” said PYURE Chief Scientist Dr. Connie Araps. “We are thrilled to confirm that PYURE technology rapidly kills airborne and surface-bound SARS-CoV-2 and can help protect against the spread of COVID-19.”
PYURE’s innovative, patented technology replicates the way sunlight sanitizes the outdoor environment by generating and diffusing hydroxyls and organic oxidants indoors. PYURE technology produces these natural sanitizing agents in the same concentrations typically found outdoors on a sunny day, so it can be safely operated continuously indoors. Unlike conventional air purifiers, PYURE’s sanitizing effect is not limited to the air that is pulled through the device. PYURE disperses organic oxidants throughout a space, dynamically sanitizing all air and surfaces. This enables PYURE devices to rapidly and safely kill viruses, bacteria and mold, decompose volatile organic compounds and neutralize odors, without harming occupants or materials.
“The global pandemic puts many people at risk. PYURE technology, when combined with personal safety measures, can help protect patients, healthcare workers, seniors, students, employees and patrons by rapidly killing the COVID-19 virus and reducing the risk of transmission. Our products will help end users navigate the current public health crisis and be better protected from future pathogens,” said PYURE Chief Executive Officer Jean-Francois Huc.
The trials were designed and conducted by Innovative Bioanalysis, a CLIA and CAP* certified laboratory located in Costa Mesa, Calif. The study was carried out in a large test chamber and was designed to simulate a real-life environment, taking into consideration the precautions needed when working in a Biosafety Level 3 containment area. The trials were conducted with a high starting concentration of SARS-CoV-2 virus for aerosolization and surface inoculation and were run in triplicate, with controls at every sampling time point. PYURE supplied the laboratory with an MDU/Rx™ freestanding portable unit, which is 25 inches in height and weighs 39 pounds. The MDU/Rx™ is registered with the FDA as a class II medical device. All PYURE air purification products and solutions are powered by the same hydroxyl and organic oxidant generating technology.
About The PYURE Company
The PYURE Company, formerly known as HGI Industries, designs, manufactures and markets commercial air purifiers that sanitize air and surfaces. PYURE’s innovative, patented technology replicates the way sunlight sanitizes the outdoor environment by safely generating and diffusing hydroxyls and organic oxidants indoors. PYURE markets products that destroy pathogens and improve air quality – from portable devices treating hundreds of square feet to HVAC-integrated solutions with sensor driven, integrated process controls treating hundreds of thousands of square feet. PYURE products can be purchased directly or through authorized distributors. An American manufacturer, PYURE was founded in 2007 and is based in Boynton Beach, Fla. For more information, visit www.pyureco.com.
* CLIA is an acronym for the Clinical Laboratory Improvement Amendments of 1988. CAP is an acronym for the College of American Pathologists.
Gabriela Carrero, Edelman, 305-326-2055, This email address is being protected from spambots. You need JavaScript enabled to view it.
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DENVER--(BUSINESS WIRE)--#midstream--Humble Midstream, LLC (“Humble”) today announced it has secured an initial capital commitment of $300 million from EnCap Flatrock Midstream (“EFM”). Based in Denver and formed in mid-2020, Humble Midstream is an independent energy company focused on acquiring and building midstream assets in conventional and unconventional plays across North America. Its goal is to create value by improving efficiencies and expanding the customer base of acquired businesses and/or building competitive new assets that serve the needs of the North American energy market.
Humble is led by Chief Executive Officer Steve Huckaby, a 38-year veteran of the midstream industry. “EnCap Flatrock Midstream is the nation’s premier provider of midstream growth capital and a firm that for the past decade has demonstrated its ability to be successful in changing markets. We are excited to partner with EnCap Flatrock to create a company that provides innovative midstream solutions that are safe, reliable, flexible and environmentally responsible,” Huckaby said.
“We arrived at the decision to back the Humble team based on a combination of factors,” said EnCap Flatrock Managing Director Tommy Waldrip, who is also a member of the Humble Midstream board of directors. “We first partnered with Steve Huckaby in 2009 when we formed Meritage Midstream I together and believe he is one of the best leaders in midstream. He has built and been at the helm of four successful midstream companies, served in leadership positions at many others and has an excellent reputation across the energy industry. At Humble, he’s put together and continues to build a highly experienced management team composed of executives with successful track records and complementary skill sets. Finally, the Humble team shares our values and looks at the midstream opportunity set in a fresh way that aligns with the market.”
About Humble Midstream, LLC
Headquartered in Denver and formed in 2020, Humble Midstream is a full-service service midstream company focused on developing or acquiring and optimizing midstream facilities that deliver oil and gas products from the wellhead to market. Humble is led by three industry veterans: Chief Executive Officer Steve Huckaby, Chief Commercial Officer Tim Pimmel and Chief Financial Officer Ed Guay, who together have more than 98 years of collective experience in energy. Please visit www.humblemidstream.com for more information on the company and its management team.
About EnCap Flatrock Midstream
EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to management teams from EFM Fund IV, a $3.25 billion fund. For more information, please visit www.efmidstream.com.
Media Contact:
Casey Nikoloric, Managing Principal
TEN|10 Group
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The Sunverge platform will be used by Nova Scotia Power to explore opportunities to co-optimize consumer and grid services, providing grid services, based on day-ahead and intra-day generation planning, including peak demand reduction and load leveling, generation contingency support, distribution feeder congestion management, and renewables smoothing, while offering consumer services including energy arbitrage, PV self-consumption, and backup power capabilities.
SAN FRANCISCO--(BUSINESS WIRE)--#DER--Following a competitive bid process, Sunverge, the provider of an industry-leading distributed energy resource (DER) control, orchestration and aggregation platform, today announced that it has been selected by Nova Scotia Power, a vertically integrated utility based in Halifax, Nova Scotia for the Smart Grid Atlantic Pilot project, providing residential behind-the-meter virtual power plant technologies that include Sunverge real-time DER control, orchestration and aggregation platform combined with LG Electronics residential energy storage systems. Sunverge was selected in a competitive bid process.
“We are excited to be selected for this groundbreaking and highly innovative project and to have the opportunity to work closely with Nova Scotia Power to demonstrate the value of residential battery systems for their customers and to the electric grid,” said Martin Milani, CEO of Sunverge. “We are confident that Sunverge’s advanced platform will demonstrate the value of aggregating residential behind-the-meter storage systems for the Nova Scotia electricity grid and participating customers. The combination of real-time dynamic load flexibility and grid services is a powerful tool for managing the grid of the future and integrating the growth of distributed energy resources.”
The Sunverge platform will be used by Nova Scotia Power to explore opportunities to co-optimize both consumer and grid services. Grid services, based on day-ahead and intra-day generation planning, include:
Consumer services include:
These value streams will offer additional grid reliability and resiliency benefitting Nova Scotia Power’s entire service area.
Utility professionals interested in learning more about Sunverge’s capabilities can contact This email address is being protected from spambots. You need JavaScript enabled to view it..
About Sunverge Energy
Sunverge Energy provides the leading open dynamic platform for Virtual Power Plants (VPP), a grid-aware and dynamic power source built from the aggregation of behind-the-meter DERs (distributed energy resources). The Sunverge real time DER control and aggregation platform is unique in providing dynamic co-optimization of services on both sides of the meter, helping customers with intelligent management of their own renewable energy generation and utilities with greater flexibility in managing their infrastructure investments, reducing generation costs, increasing system reliability, and meeting their renewable energy goals. Together with the Sunverge Infinity edge controller, the Sunverge VPP platform provides intelligent dynamic near real-time control over decentralized energy resources that is efficient, reliable, and responsive to utilities and their customers. For more information please visit http://www.sunverge.com/
Jared Blanton, Antenna Group for Sunverge
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The Award-Winning Sharrow Propeller™ is Made in USA
DETROIT--(BUSINESS WIRE)--#SharrowEngineering--Sharrow Marine announced today plans to build its global manufacturing headquarters for the award-wining Sharrow Propeller in Detroit, MI. Sharrow Marine LLC is a wholly owned subsidiary of Sharrow Engineering LLC - a nautical and aeronautical engineering company dedicated to the research and development of revolutionary high-performance propulsion technologies for the maritime and aeronautical industries.
The SHARROW MX-1™ Propeller has garnered widespread attention for its innovative, new design that offers substantial improvements in fuel efficiency and performance rarely seen in the boating industry. Earlier this year, Sharrow Marine won one of the coveted Innovation Awards at the 2020 Miami International Boat Show.
Consumer excitement over the new SHARROW MX-1™ Propeller is rooted in the fact that the design offers a host of performance improvements including higher top speed, better handling, reduced vibrations, and a stronger propeller in general, and that it is 9-15% more efficient than the industry leading propeller designs.
“We are thrilled to be announcing our plans to build our new headquarters in Detroit,” said Greg Sharrow, a native Detroiter and CEO of Sharrow Marine. “Detroit will become the new home base for manufacturing, customer service, and engineering development,” says Sharrow. “We are excited to bring jobs to Detroit and to be bringing big propeller manufacturing back to the USA.”
The Sharrow Propeller™ is currently available for purchase directly from the Sharrow Marine online store: www.sharrowmarine.com/store
The Sharrow Propeller™ has undergone extensive third-party testing, including independent testing by BoatTEST.com. Advantages cited by BoatTEST.com and others of the new SHARROW PROPELLER™ MX-1R, MX-1S and MX-1G include:
Fifty-four U.S. and international patent applications have been filed with the U.S. Patent and Trademark Office (USPTO) and foreign countries to protect the intellectual property rights for the Sharrow Propeller™. Already, 27 patents have been awarded in the U.S., Japan, Canada, Australia, New Zealand, Europe (14 countries), Taiwan, China, and South Korea – with many other patent applications pending in countries around the globe.
About Sharrow | www.sharrowmarine.com
Sharrow Marine LLC is a wholly owned subsidiary of Sharrow Engineering LLC - a nautical and aeronautical engineering company dedicated to the research and development of revolutionary high-performance propulsion technologies for the maritime and aeronautical industries. Sharrow Engineering LLC has assembled a team of the world’s top aeronautical, nautical, aerospace, and mechanical engineers to assist with the company’s core mission to reinvent the methodologies and technologies used for propulsion in the 21st century.
Media: Maren Sharrow, Director of Marketing and PR, 267-909-3424 (M)
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