Energy Leader Taps Kebotix for Advancements through AI

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Kebotix, a technology platform company for new chemicals and materials, is revolutionizing how R&D is created at scale with reduced time and cost while simultaneously increasing success rates, especially of high-risk, high-reward programs. The breakthrough company provides digital R&D solutions to accelerate innovation in the chemical and material industry across numerous markets – leveraging their expertise in chemistry as well as recent advances in artificial intelligence and automation.

Kebotix is helping bp to understand how to leverage AI to push the company to the forefront of chemistry and materials. Partnering with Kebotix, bp explored how AI and other advanced digital technologies can shorten the design process within various areas of the company, thereby saving time and resources.

Design and synthesis can be a lengthy and iterative process in laboratories. Tapping into Kebotix’s expertise for this collaboration, bp demonstrated that AI can potentially shorten the design process.

“This has helped bp to gain insight into the benefits of AI which could impact how we transform our businesses – it allows us to focus our resources in the most promising areas,” said Morag Watson, bp’s senior vice president of digital science and engineering.

Partnering on proof of concepts with other innovative companies that speak a similar technical language has many advantages. Since the application area for this project was deeply rooted in chemistry, bp sought a company working on the cutting edge of applying AI techniques in the chemistry field, and Kebotix fit the bill, common vernacular and all.

“Kebotix uses a data-driven approach and leverages the ability of AI to learn chemical intuition,” said Dr. Christoph Kreisbeck, Kebotix chief commercial officer. “To this end, Kebotix reviews millions of reactions and uses deep learning to suggest additional plausible reaction routes. While traditional expert rule-based software for synthesis planning can only recover what is already known in the literature, the Kebotix AI algorithms are able to generate additional reactions that enable the discovery of new chemistry.”

Kebotix’s AI “thinks” like an organic chemist yet with the combined knowledge of all known chemistry in the patent literature while taking a giant leap into the unknown. For the partnership with bp, Kebotix applied this and other capabilities to a relevant chemical serving as a precursor for various applications. The Kebotix AI identified diverse options to synthesize the chemical using specific renewable starting materials. The more options the AI produces the higher are the chances for process chemists to be successful in scale-up for cost and resource-efficient production.

A Promising Future

The initial collaboration with Kebotix has been deemed a success by bp. Over the course of the project, which ran from August 2019 to May 2020, the bp team learned how to leverage AI in the design phase and foresee how this tool can significantly aid in brainstorming paths to materials of interest, enabling scientists to explore a broader range of chemistries and test ideas in a shorter amount of time.

“Digital and expanding how we think about leveraging technology differently is a key part of achieving bp’s ambitions,” Watson said.

Speaking on Kebotix’s commitment to social responsibility, company CEO and founder Dr. Jill S. Becker said, “Kebotix is dedicated to developing transformative technologies that will facilitate important first steps toward tackling some of the biggest challenges of the 21st century.”

Kreisbeck agreed, citing that using machine learning to ingest large amounts of information is extremely valuable. “Understanding the strengths and limitations of ML and AI techniques allows bp’s scientists to best leverage the tools with how they currently work,” he said.

About Kebotix

Kebotix partners with the private and public sector in harnessing the power of its breakthrough platform that combines artificial intelligence and robotic automation to discover chemicals and materials significantly faster and more affordably. Kebotix is backed by a growing, talented and dedicated team led by world-class scientists and serial entrepreneurs – plus the world’s first self-driving lab for materials discovery – to develop AI/machine learning roadmaps and define problems and solution properties for its partners, and solve the world’s most urgent problems for everyone else. Kebotix provides its partners technology access to its digital R&D solutions – including ChemOS^TM – and complete end-to-end materials innovation programs to stay ahead of competition in the digital revolution. For more information, visit www.kebotix.com.

About bp

bp’s purpose is to reimagine energy for people and our planet. It has set out an ambition to be a net ‎zero company by 2050, or sooner, and help the world get to net zero, and recently announced its ‎strategy for delivering on that ambition. For more information visit www.bp.com.

Connie Zheng
PR for Kebotix
415-886-7218
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+44 (0) 207 496 4076
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The developer offers as much as 2,300 MW of renewable power and pledges up to 19 million in investments for the Garden State’s offshore workforce and training capabilities

ATLANTIC CITY, N.J.--(BUSINESS WIRE)--Today Atlantic Shores Offshore Wind (Atlantic Shores), the 50-50 joint venture between EDF Renewables North America and Shell New Energies US LLC, submitted its proposal to the New Jersey Board of Public Utilities to supply the state with up to 2,300 MW of renewable wind energy. New Jersey seeks to award between 1,200 MW and 2,400 MW of offshore wind energy projects as part of its second solicitation. Atlantic Shores estimates their first project would be completed as early as 2027 and if awarded, the largest sized project in its bid could yield a 16% reduction in New Jersey’s carbon dioxide emissions from electricity generation by powering the equivalent of nearly one million homes.

“As the holder of one of the largest offshore wind leases in the United States, Atlantic Shores has an incredible opportunity to help meet New Jersey’s demand for clean, affordable energy within our 180,000 acres,” said Jennifer Daniels, Development Director. “Our project, backed by the technical, operational, and development expertise of our team and the financial backing of global energy parent companies, is well positioned to serve New Jersey ratepayers best. Offshore wind can propel a dynamic and fast-growing new economy on the East Coast, and we are committed to helping build it first in New Jersey. We are confident that if the project is selected, Atlantic Shores will help New Jersey to deliver on its vision of a clean energy future.”

The developer rolled out several key partnerships as part of its bid to further offshore wind workforce development and education in New Jersey, to help prepare local workers for the hundreds of future jobs its project will create if selected. Some of these new partnerships within the bid include initiatives with Rutgers University, Rowan College, the Barnegat Bay Partnership, the Boys & Girls Club of Atlantic City, and workforce training with several manufacturers and suppliers. The series of investments comes in advance of an expected boom in the offshore wind industry post-COVID, helping make New Jersey a leading incubator center for clean energy innovations as the offshore wind supply chain for the Atlantic seaboard looks to gravitate here and hire locally.

As part of the developer’s bid offering, Atlantic Shores through its partnership with Rutgers University, will help fund the Rutgers Future Scholars program in offshore wind, providing yearly scholarships for first-generation, low-income students. Atlantic Shores will also fund a number of companies within the Minority & Women Owned Business Incubator at the Rutgers EcoComplex located in Bordentown, New Jersey, who are working to transition clean energy start-ups into successful real-world applications.

At Rowan College in Burlington County, the Atlantic Shores bid also commits to provide funding for approximately 30 yearly scholarships for Rowan’s programs in Energy Industry Fundamentals (EIF), Transportation, Logistics and Distribution/Supply Chain, Manufacturing Machinist, and other workforce training programs that align with offshore wind industry needs.

To support environmental health near its Lease Area, the Atlantic Shores’ bid offers financial support to multiple initiatives with the Barnegat Bay Partnership, such as its Paddle for the Edge Program, and will sponsor Science, Technology, Engineering, Art and Math (STEAM) programs with the Atlantic City Boys and Girls Club for the next eight years.

“We are thrilled to announce a number of direct investments in workforce development initiatives alongside our bid, with institutions leading in clean energy fields like Rutgers and Rowan, in addition to workforce training with our supply chain partners,” said Joris Veldhoven, Commercial Director. “These partnerships will help build strong local talent pools for Atlantic Shores, at the same time enabling New Jersey workers to be on the ground floor of a massive new industry. We look forward to furthering our investment in partnerships like these for many years to come.”

If the Atlantic Shores bid is selected, the developer intends to utilize the state’s New Jersey Wind Port for staging and marshalling as the port is built over the next several years. The developer will also execute significant investments during construction and operations phases to create hundreds of well-paid jobs for New Jersey residents and further expand New Jersey’s supply chain offerings.

“We're very pleased to have signed a Memorandum of Understanding with Atlantic Shores,” said Bill Sproule, Executive Secretary Treasurer of the Eastern Atlantic States Regional Council of Carpenters. “They appreciate the value our unions have to offer offshore wind as well as the need to train New Jersey organized labor for offshore jobs. Atlantic Shores is taking a proactive approach to working with local unions through signing this agreement and we look forward to our future together."

In its bid, Atlantic Shores has also put forth an innovation plan extending beyond offshore wind, that will help New Jersey meets its goal of reducing greenhouse gas emissions by 80% by 2050 as outlined in its 2019 Energy Master Plan. As parts of its broad innovation plan, Atlantic Shores will leverage the technical capabilities of its parent companies and collaborate with academic partners and companies in New Jersey to explore commercial pathways for battery storage. Atlantic Shores has also committed to support the development of a 5 to 10 MW green hydrogen pilot project to improve the understanding and expertise on how green hydrogen can support the decarbonization of large industrial sectors.

About Atlantic Shores Offshore Wind, LLC:

Atlantic Shores Offshore Wind, LLC is a 50/50 partnership between Shell New Energies US LLC and EDF Renewables North America. The joint venture formed in December 2018 to co-develop a 183,353-acre Lease Area located approximately 10-20 miles off the New Jersey coast between Atlantic City and Barnegat Light. Atlantic Shores Offshore Wind is strategically positioned to meet the growing demands of renewable energy targets in New Jersey and beyond. Atlantic Shores, once fully developed, has the potential to generate over 2,500 MW of clean, renewable wind energy – enough to power over one million homes. The capital and expertise needed to develop such a large area is significant. Together, Shell and EDF Renewables have the investment capability and industry experience to bring this project to scale safely, efficiently and cost effectively. For more info, go to www.atlanticshoreswind.com.

Erin Dennis, This email address is being protected from spambots. You need JavaScript enabled to view it., 607-259-0607
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• Project to help each entity reach bold carbon-reduction goals
• U.S. Department of Energy to fund year-long study

CLEMSON, S.C.--(BUSINESS WIRE)--#EnergyTransition--Siemens Energy, Duke Energy and Clemson University have teamed up to study the use of hydrogen for energy storage and as a low- or no-carbon fuel source to produce energy at Duke Energy’s combined heat and power plant located at Clemson University in South Carolina.

The U.S. Department of Energy announced today that it awarded Siemens Energy a $200,000 grant for the research initiative.

The pilot project, called H₂-Orange – a nod to hydrogen gas and the collaboration with Clemson University – will ramp up in March 2021 and include studies on hydrogen production, storage and co-firing with natural gas.

The studies will evaluate multiple forms of hydrogen production, including green hydrogen, which is created from water and has no byproducts. Hydrogen also has the potential to store larger quantities of energy more efficiently and for longer durations than current lithium-ion battery technology.

“We look forward to developing an advanced hydrogen energy storage system to reduce the carbon footprint on the Clemson University campus, while optimizing the cost of energy for the campus and microgrid,” said Richard Voorberg, vice president of global service operations at Siemens Energy. “We want to be a driver of the energy transition, and this is a great step toward building reliable and efficient clean energy infrastructure in the U.S.”

This unique arrangement combines the experience, expertise and perspectives of Siemens Energy as the technology developer, Clemson University as the beneficiary and Duke Energy as the owner and operator of the asset.

Siemens Energy will study the use of its Silyzer electrolyzer to produce hydrogen fuel to help power the existing SGT-400 natural gas turbine at the Clemson plant. The Silyzer can use renewables and clean energy sources to create hydrogen without producing emissions. Clemson University will lead the integration of hydrogen into the campus grid and ensure energy needs are met, and Duke Energy will provide operational, engineering and grid modeling expertise. Duke Energy also expects the results of the study to be applicable to its larger combustion turbine fleet.

“Hydrogen integration is a possibility at many of our natural gas stations,” said Regis Repko, Duke Energy’s senior vice president and chief fossil/hydro officer. “The best way to innovate is through teamwork, and this research could influence the future of energy – reducing reliance on fossil fuels, decreasing energy costs and benefiting the environment and all energy users.”

For years, Duke Energy has actively evaluated hydrogen as a low- or no-carbon fuel source to help the company meet its bold net-zero carbon goal by 2050. Siemens Energy and Clemson University also have net-zero carbon goals to reach by 2030.

“This collaboration supports our institutional goal to be carbon neutral while advancing the development of energy technologies that could have far-reaching societal benefit,” said Tanju Karanfil, Clemson University vice president for research. “We are proud to collaborate with industry leaders Duke Energy and Siemens Energy and appreciate their interest in this project.”

This press release and a press picture / press pictures / further material is available at https://press.siemens-energy.com/global/en

Follow us on Twitter at: www.twitter.com/siemens_energy

Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020. www.siemens-energy.com.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.

Duke Energy is transforming its customers’ experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit’s regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.

Duke Energy was named to Fortune’s 2020 “World’s Most Admired Companies” list, and Forbes’ 2019 “America’s Best Employers” list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Clemson University One of the most productive public research universities in the nation, Clemson University attracts and powerfully unites students and faculty whose greatest desire is to make a difference in the lives of others. Ranked among the best national public universities by U.S. News & World Report, Clemson is dedicated to teaching, research and service. Our main campus, located in Upstate South Carolina, sits on 1,400 acres in the foothills of the Blue Ridge Mountains, along the shores of Lake Hartwell. We have a presence in every South Carolina county through research facilities, economic development hubs and innovation campuses. Through the research, outreach and entrepreneurial projects led by our faculty and students, Clemson University is driving economic development and improving quality of life in South Carolina and beyond. For more information, go to clemson.edu or visit us on Facebook, Instagram or Twitter.

Contacts for journalists:
Siemens Energy
Stacia Licona
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Duke Energy
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Clemson University
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The educational webinar will provide OEMs with tips on designing high performing, fully connected electric vehicles with customizable charger software

BURNABY, British Columbia--(BUSINESS WIRE)--Delta-Q Technologies (Delta-Q), a leader in battery charging solutions for electric drive vehicles and machines, announced the planned release of its educational webinar with CHARGED Electric Vehicles Magazine (CHARGED). The webinar is titled “The Unsung Capabilities of Charger Software in Creating a High-Performing EV.” It will cover three ways vehicle manufacturers can use charger software to communicate in an electric drive system.

Parties interested in viewing the content can register for access by clicking on the following link: https://hubs.ly/H0BPpyx0

Presented by Delta-Q and CHARGED, the webinar will be hosted on CHARGED’s website and led by Conway Hui, Delta-Q’s Director of Sales Application Engineering and Customer Support. Hui will share best practices on leveraging software to maximize machine runtimes and detail how customizable charger software can help OEMs:

• Create a fully integrated electric drive system, which prolongs battery life and maximizes electric vehicle performance.
  
• Help predict vehicle issues and perform diagnostics to prevent premature battery failure.
  
• Extract charger data to improve overall equipment safety and reduce maintenance spending.

“We are excited for the opportunity to partner with CHARGED to help vehicle manufacturers understand the potential of charger software and their EVs,” said Hui. “Many vehicle manufacturers are concerned about whether or not EVs can outperform their diesel or petrol-powered counterparts with existing battery technology. This educational webinar will provide CHARGED’s readers with best practices to create high-performing EVs that leverage modern charging solutions.”

The webinar will begin on December 15, 2020, at 2 p.m. ET (11 a.m. PT) and include a live Q&A session.

About Delta-Q Technologies:

Delta-Q Technologies, a leading provider of battery charging solutions that improve the performance and reliability of electric drive vehicles and industrial equipment, has more than 20 years of experience helping tier 1 OEMs electrify their products, while its engineering team has a combined experience of more than 60 years working with CAN programming and telematic systems. The company has become the supplier of choice to many of the world’s leading manufacturers of electric golf cars, lift trucks, aerial work platforms, motorcycles and scooters, floor care machines, and utility and recreational vehicles. Delta-Q is headquartered in Vancouver, Canada, with a local presence in the U.S., Europe, and Asia. For more information, please visit www.delta-q.com or follow company updates on Twitter and LinkedIn.

AnnMarie Carson
Communiqué PR for Delta-Q Technologies
206-282-4923 x119
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DUBLIN--(BUSINESS WIRE)--The "Base Oil Market by Type, by Application - Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

The Global Base Oil Market was valued at USD 36.55 billion in 2019 and is estimated to garner USD 41.65 billion by 2030, expanding at a CAGR of 1.1% during the forecast period, from 2020 to 2030. The volumetric turn-over of the global base oil market was 41,907.3 kilotons in 2019 and is expected to reach 48,879.3 kilotons by 2030, at a CAGR of 1.3% during the forecast period, from 2020 to 2030.

Base oil is a refined petroleum product obtained from heavy hydrocarbons by refining crude oil at extreme temperature ranges. It is extensively employed in a wide range of applications such as manufacturing automotive oil, industrial oil, metalworking fluids and lubricating greases, and other lubricant base stock. The quality standards of base oil majorly depend on parameters such as viscosity, oxidation, vitality, consistency, compatibility, pour point, seal additive, solubility, and thermal stability.

Market Dynamics and Trends

The expansion of the global base oil market is attributed to increasing demand from various industry verticals, rising demand to manufacture sustainable products to reduce carbon foot prints and help in environmental conservation. Additionally, surge in the demand for manufacturing high-performance, low fuel-consumption, and energy-efficient products under the Corporate Average Fuel Economy (CAFE) norms regarding environment conservation are driving the market growth.

Furthermore, factors such as growing population, rapid industrialization, increasing urbanization, infrastructural advancements, technological developments, changing lifestyles, and increasing per-capita income are boosting the base oil market growth. However, fluctuating prices of crude oil and stringent environmental standards regarding emission norms are expected to hamper the market during the forecast period.

Market Segmentations and Scope of the Study:

The global base oil market is segmented based on type, application, and geography. On the basis of type, the market is segregated into Group I, Group II, Group III, Group IV, and Group V. In terms of application, the market is divided into automotive oil, industrial oil, metalworking fluids, greases, and others. Based on geography, the market is fragmented into North America, Europe, Asia-Pacific, and Rest of World (RoW).

Geographical Analysis

North America is expected to account for notable market share over the forecast period owing to the presence of developed infrastructures, increase in technological advancements, and growth of the automotive industry. Besides, stringent regulatory standards regarding environment conservation leading to formulation of energy efficient fuels with lower GHG emissions, is expected to fuel-up the growth of global base oil market in this region.

Asia Pacific is expected to dominate the global base oil market, in terms of both value and volume, owing to the augment in industrialization, growth of the automotive industry, high demand for finished lubricants to improve the operational efficiency, and increase in the use of synthetic base oil as a substitute to traditional oils to reduce carbon footprints.

Competitive Landscape

Key players in the base oil market are BP PLC, Ergon Inc., Chevron Corporation, Evonik Industries AG, H&R Olwerke Schindler GmbH, Exxon Mobil Corporation, Nynas AB, Royal Dutch Shell PLC, Petronas Pvt. Ltd., Total S.A., and SK Lubricants Co. Ltd.

In April 2019, Total S.A. announced the acquisition of Chevron Denmark Inc. including Chevron's 12% share of Danish Underground Consortium (DUC), a 12% interest in License 8/06, and a 13.5% interest in the Tyra West pipeline. This acquisition strengthens Total S.A.'s strategic commitment to Denmark and its presence in the Danish North Sea.

In April 2020, Petronas Pvt. Ltd. made an oil discovery in the Monument exploration well, offshore the US Gulf of Mexico. The well was drilled to a total depth of 10,164 meters and encountered approximately 60 meters of net oil-bearing sands in the Lower Wilcox of Paleogene sandstone. This is Petronas Pvt. Ltd.'s first entrance and discovery into oil & gas operations in the US Gulf of Mexico.

KEY MARKET SEGMENTS:

Global Base Oil Market - By Type

• Group I
• Group II
• Group III
• Group IV
• Group V

Global Base Oil Market - By Application

• Automotive Oil
• Industrial Oil
• Metalworking Fluids
• Greases
• Others

Global Base Oil Market - By Geography

• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia-Pacific
• RoW
• UAE
• Saudi Arabia
• South Africa
• Brazil
• Remaining Countries

KEY PLAYERS:

• BP PLC
• Ergon Inc.
• Chevron Corporation
• Evonik Industries AG
• H&R Olwerke Schindler GmbH
• Exxon Mobil Corporation
• Nynas AB
• Royal Dutch Shell PLC
• Petronas Pvt. Ltd.
• Total S.A.
• SK Lubricants Co. Ltd

For more information about this report visit https://www.researchandmarkets.com/r/695vna

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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MINNEAPOLIS--(BUSINESS WIRE)--The Board of Directors of Xcel Energy Inc. (NASDAQ: XEL) today declared a quarterly dividend on its common stock of 43 cents per share. The dividends are payable January 20, 2021, to shareholders of record on December 23, 2020.

Xcel Energy is a major U.S. electricity and natural gas company, with operations in 8 Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.7 million electricity customers and 2.1 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.

This information is not given in connection with any sale or offer for sale or offer to buy any securities.

Statements in this press release regarding Xcel Energy’s business which are not historical facts are “forward-looking statements” that involve risks and uncertainties. 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” in the Company's Annual Report on Form 10-K for the most recently ended fiscal year.

Xcel Energy, Minneapolis
Shareholder Services
Darin Norman (612) 337-2310
or
Paul Johnson, Vice President, Investor Relations (612) 215-4535
or
Xcel Energy Media Relations Representatives (612) 215-5300

CALGARY, Alberta & DALLAS--(BUSINESS WIRE)--#digitaloilfield--Already an industry leading software package for tracking, billing and reporting oilfield rental equipment, RigER Inc. announces the release of RigER® 8.0 Odessa. This version adds greater tools for efficiency, data management and information security.

Mobile ERP for Oilfield Service and Rentals – Enable your team to work anywhere, anytime – even offline. From sales quotes to field operations and even purchasing requests, RigER® has a mobile app to fit your team and budget. RigER® mobile apps are an extension of the RigER® ERP platform that allow your team members to communicate with each other, your office staff, and with clients.

Customer Relationship Management – Seeking the convenience of being a single stop for all business information and transactions, RigER® Odessa now includes standard CRM functions, designed specifically for the oilfield. This module will let oilfield rental companies track all current and historical sales activities, convert activities into opportunities then, with approval, convert them to contracts. Once approved, the operations team can access the information and deliver the product or service seamlessly and on time.

Built-in Email Client – Keep track of client communication inside the ERP system in order to add operational efficiency. No more cutting and pasting, double data entry or lost emails - create opportunities, services calls and more with a click of a button. Emailing user reports from RigER® is simpler because now the software stores emails internally, making them easy to review.

Barcoding – Version 8.0’s barcode reader function speeds check-in, checkout and inventory control once all equipment and parts are barcoded. This also eliminates mistakes such as transposition of serial numbers and gives immediate access to the equipment’s history.

ISO27001 Information Security - All industries are now emphasizing data security. In that light, RigER® 8.0 Odessa protects client data by meeting international security standards. ISO27001 is standard on all Odessa packages.

What Customers Say

“...RigER is my favorite system to use for oilfield services and dispatching. And I have seen and used a few."

“…During implementation, it was refreshing to be able to work with people who had a good understanding of the industry and its general operations. This made for a quick implementation, and also brought up constructive conversation which ultimately led to a much better end product.”

About the Company:

RigER® is an oilfield operations management software for energy service and equipment rental companies. It simplifies oilfield service and rentals management from the first client call to the final invoice. Schedule oilfield services faster, dispatch jobs quicker, invoice clients in 24 hours and generate accurate reports. RigER® integrates with accounting, ERP and other systems, connecting office and oilfield.

With industry-specific configurations designed for light towers, generators, pumps, frac and flowback, downhole tools and other rental equipment, RigER® is great for OFR/OFS companies that focus on operational excellence and scalable growth every step of the way.

Nikolai Korniyuk
1.888.865.8903
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25 percent increase in NuScale Power Module™ power output leads to boost in cost-competitive clean hydrogen production

PORTLAND, Ore.--(BUSINESS WIRE)--NuScale Power today announced updated evaluations for the technical feasibility and economics of producing hydrogen using heat and electricity from a NuScale Power Module™ (NPM) as a result of the recent announcement that an NPM can generate an additional 25 percent more power per module for a total of 250 MWt (or 77 MWe) per module. The hydrogen study was originally conducted in 2014 with the Idaho National Laboratory and has been updated with new production and economic parameters.

The updated analysis found that with the 25 percent increase in power output of an NPM, one 250 MWt NuScale module is capable of producing 2,053 kg/hour of hydrogen, or nearly 50 metric tons per day, an increase from 1,667 kg/hour of hydrogen or 40 metric tons per day for a 200 MWt NuScale module. Moreover, as a result of the lower levelized cost of electricity from the increased power output, hydrogen produced by a NuScale high-temperature steam electrolysis (HTSE) system is forecasted to be cost competitive with high capacity factor renewable hydrogen cost estimates while also providing continuous, controlled hydrogen production.

“The ability of our NPM to now produce even more clean hydrogen, in a smaller footprint, is yet another example of how NuScale’s technology can help decarbonize various sectors of the economy while providing additional revenue streams for customers,” said Dr. José Reyes, Chief Technology Officer and Co-founder of NuScale Power. “Coupled with our proven design, unparalleled safety, and load following capabilities, this analysis further demonstrates that NuScale’s design is the gold standard in helping meet the demand for innovative solutions to challenging global energy needs.”

In the analysis, energy from a single NPM in the form of superheated steam and electricity are directly routed to a HTSE system operating at 850°C. Only 2 percent of the electrical output (~1.8 MWe) of the NPM is used to increase the process steam temperature from 300°C at the NPM outlet to 850°C for the electrolyzer. NuScale’s innovative multi-module power plant design means that a NuScale plant could produce reliable clean electricity for the grid while allocating one or more modules to economically produce hydrogen when electricity demand is low.

According to a recent report from LucidCatalyst, in order for the world to meet the Paris goals of keeping warming between 1.5–2°C, sufficient, low-cost, clean hydrogen production is needed to replace oil and gas in shipping, aviation, and industry. Over 95% of the world's hydrogen is currently produced using fossil fuels, with the most common method being steam methane reforming from natural gas. Renewables cannot produce all of this hydrogen alone, and advanced modular reactors will be required to produce enough clean hydrogen to displace the 100 million barrels of oil that are currently consumed around the world each day. Using a single NPM to produce 50 tons of hydrogen per day would avoid about 460 tons of CO₂ emissions per day, or 168,000 tons of CO₂ per year, as compared to producing hydrogen from natural gas. Additionally, NuScale’s ability to produce clean hydrogen is perfectly suited to assist in decarbonizing transportation, since a single NPM can produce enough hydrogen to power 38,000 fuel cell vehicles or 1,500 long-haul fuel cell trucks at average annual fuel usage rates in the United States.

​​​​​About NuScale Power

NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 77 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design—a power plant can house up to four, six, or 12 individual power modules—offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 60-year history in commercial nuclear power.

NuScale is headquartered in Portland, OR and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, LinkedIn: NuScale-Power, and Instagram: nuscale_power. Visit NuScale’s website.

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Headwinds for Global Economic Recovery

RIYADH, Saudi Arabia--(BUSINESS WIRE)--The International Energy Forum (IEF) today released a new joint report with Boston Consulting Group (BCG) that warns weak energy demand caused by the COVID-19 pandemic and subsequent investment cuts by companies will have repercussions through a future supply shock.

“Although upstream investment has peaked for now, ongoing demand for oil and gas will necessitate an increase soon. Without sufficient investment, a reduced supply of oil and gas could lead to higher prices and greater market volatility, slowing the global economic recovery and jeopardizing energy security, and international goals,” the report concludes.

The report “Oil and Gas Investment in the New Risk Environment” was presented in an online event Thursday by IEF Secretary General Joseph McMonigle and BCG Global Energy Practice Leader Alan Thomson. The webinar was livestreamed to the public.

The report states that capital expenditures by oil and gas companies has fallen by 34 percent this year and early assessments indicate further reductions of 20 to 30 percent in 2021.

IEF Secretary General Joseph McMonigle said the global community must continue the race to the energy transition but also needs to be cognizant of this potential new fallout caused by the pandemic. “Given that producing natural oil and gas wells decline over time, slashing investment in new production locks in lower total supply,” McMonigle said. “While that may not pose an immediate threat to oil and gas markets, it won’t be long before this lower supply collides with resurgent demand. The result will be higher and more volatile oil prices and headwinds for the post-pandemic global economic recovery.”

According to the report, the IEF and BCG analysis “suggests that industry investment will have to rise over the next three years by 25 percent yearly from 2020 levels to stave off a crisis” and “substantially greater sums will be needed by the end of the decade to ensure sufficient production to guarantee market stability.”

The full report and webinar replay is available on the IEF website (www.ief.org/investmentreport).

*Source: AETOSWire

Aurangzeb Qureshi
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HOUSTON--(BUSINESS WIRE)--$WM--Waste Management has been recognized for leadership in corporate sustainability by global environmental non-profit CDP, securing a place on its prestigious ‘A List’ for tackling climate change.

Waste Management was recognized for its actions to cut emissions, mitigate climate risks and develop the low-carbon economy, based on the data reported by the company through CDP’s 2020 climate change questionnaire.

“Waste Management is very pleased to be listed on CDP’s A List for the fifth year in a row, once again acknowledging our leadership in environmental action,” said Jim Fish, president and CEO of Waste Management. “We are tackling climate change with our ambitious 2038 goal to reduce, offset and avoid four times the emissions we generate in our operations. Our low-carbon products and services currently reduce, offset and avoid three times the emissions we generate.”

Waste Management is one of a small number of high-performing companies out of 5,800+ that were scored. Through significant demonstrable action on climate, Waste Management is leading on corporate environmental ambition, action and transparency worldwide.

CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2020, over 515 investors with over US$106 trillion in assets and 150+ major purchasers with US$4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. Over 9,600 responded – the highest ever.

A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provided insufficient information are marked with an F.

Paul Simpson, CEO of CDP, said: “We extend our congratulations to all the companies on this year’s A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, and is even more impressive in this challenging year marked by COVID-19. The scale of the risk to businesses from climate change, deforestation and water insecurity is enormous, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector will create an ‘ambition loop’ for greater government action and ensure that global ambitions for a net zero sustainable economy become a reality. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”

The full list of companies that made this year’s CDP A List is available here, along with other publicly available company scores: https://www.cdp.net/en/companies/companies-scores.

Waste Management released its 2020 Sustainability Report in October, highlighting progress toward the Company’s 2025 and 2038 sustainability goals, key performance indicators, recycling advancements and recent awards. A new Environmental, Social and Governance (ESG) Resource Hub complements the Sustainability Report.

About Waste Management

Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The Company’s customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management, visit www.wm.com or www.thinkgreen.com.

About CDP

CDP is a global non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the hundreds of cities, states and regions who have disclosed, making CDP’s platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Visit https://cdp.net/en or follow us @CDP to find out more.

Waste Management

Website
www.investors.wm.com

Analysts
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Chief diversity and inclusions officers speak with IHS Markit Vice Chairman Daniel Yergin for the latest CERAWeek Conversations – available at www.ceraweek.com/conversations

WASHINGTON--(BUSINESS WIRE)--In the latest edition of CERAWeek Conversations, the chief diversity and inclusion officers of Chevron and Duke Energy discuss how the oil, gas and power industries have been fostering cultures of diversity and equity, and the initiatives they are taking to amplify those priorities in response to the events of 2020.

In a conversation with Daniel Yergin, vice chairman, IHS Markit (NYSE: INFO), Joni Davis, chief diversity and inclusion officer, Duke Energy, and Lee Jourdan, chief diversity officer, Chevron, discuss the impact that the events around race relations in 2020 have had on their companies; share the strategies to advance more inclusive and equity-focused agendas across their networks and stakeholders; explore workplace conversations around “privilege;” and the efforts to recruit diverse workforces for the future.

The complete video is available at: www.ceraweek.com/conversations

Selected excerpts:

Interview Recorded Monday, November 30, 2020

(Edited slightly for brevity only)

• On 2020 catalyzing the agenda for diversity, equity and inclusion:
  
  Joni Davis, Duke Energy: “We’ve focused on diversity, equity and inclusion at Duke Energy for many years now. When I came into the role, we jumpstarted several initiatives to really give us a keen focus on it. 2020 really catalyzed those efforts after George Floyd and the race equity movement. Diversity and inclusion were top of mind for so many of our employees and within our communities. I believe that 2020 ushered in the opportunity to accelerate and really sustain diversity, equity and inclusion like never before.
  
  “2020 has been a very emotional, thought-provoking, exhausting and very defining year. Most of us have looked in the mirror personally and organizationally to see what we’re made of and who we are. From our perspective of how we processed it, it really personalized for us what diversity, equity and inclusion mean at Duke Energy.”

• On company initiatives to address racial equity and promote diversity and inclusion:
  
  Lee Jourdan, Chevron: “We really increased the courageous conversations we’ve had. We’ve had in-depth conversations with our executive leadership teams and opened their eyes to things they weren’t aware of before.
  
  “We are, I think still, the only oil and gas company to use the term “Black Lives Matter.” That was important to us because we recognize the true intent of that term. So, we became public in our support of what was happening in the black community. A number of our executives, starting with the chairman, were very public about how it personally affected them. We posted the comments both on our website and in social media. That set the tone for our organization to have more vulnerable conversations about what was going on, which built a foundation for sustainable conversations in the future. It has changed a lot.
  
  “We became the epicenter for all the conversations around this. There were groups of people that thought we weren’t talking about this enough and there were groups of people that thought we were talking about it too much. Being where we are, we had to manage all of that.
  
  “Some of the most striking things to me [is] we’re hearing the stories. All African American and people of color, or anyone in an underrepresented group, has their stories to tell. But you’re really only aware of your own. We keep a lot of those to ourselves. But this brought all of them out. Hearing the stories of my colleagues and their reactions and things they had faced both outside of work and in the office were very impactful—not just to me, but to those who hadn’t heard them. That was the good thing—those that hadn’t been subjected to those things became aware that they occur on a regular basis. Although that was difficult, once we began to move through that threshold, we could have the conversations that we needed to have.”
  
  Davis: “At the start of the race equity movement and George Floyd’s murder, our CEO came out immediately and spoke to our values and the importance of diversity, equity and inclusion as a part of who we are as a company. We launched into our ‘Pathways to Inclusion’ conversation series. That was an opportunity for us to really get to the heart at what diversity means at Duke Energy, what inclusion means at Duke Energy, and what is our path forward from that.
  
  “The way that we chose to approach this was to give employees an opportunity to just have honest and open conversations in a safe place. We equipped our leaders to help facilitate, just for employees to have the opportunity to process their feelings, to talk about how they feel. Some wanted to talk and some just simply wanted to listen. It was such a wonderful opportunity for our entire team to build awareness.
  
  “It’s exhausting, it’s a labor of love, but it has been very meaningful. I really see the fruit of how we can make sustainable and impactful change as a result of this—leveraging this momentum that’s been built. It’s been wonderful, but yet it has been exhausting…recalibrating our strategies to be sure that we are serving the needs of our employees and our leaders in our communities at this juncture.”

• On structuring workplace conversations around “white privilege:”
  
  Jourdan: “Privilege has become a four-letter word that is difficult to have a conversation around. I’ve developed a way to talk about that that can remove some of that defensiveness and allow people to have a conversation about it and understand why it’s important. Privilege, and typically we talk about white privilege, it doesn’t mean that you were born with a silver spoon in your mouth. It doesn’t mean you didn’t earn what you have. It doesn’t mean you didn’t have to overcome obstacles to get to where you are. It just means of those obstacles, none of them were based on the color of your skin. Everyone has some level of privilege.”
  
• On diversity data within industry:
  
  Jourdan: “A lot of times you’ll see data that has two categories: Women and minorities. In 2018 we began disaggregating the minority data in the U.S. by Asian-American, Hispanic-Americans and Black Americans. What we found is that there may be one of those groups that isn’t doing as well, and you could bury that if you just talk about minorities. We became the first oil and gas company to start disaggregating that data publicly about two years ago. It’s really been able to drive different conversations than we’ve had in the past.
  
  Davis: “For several years we have disaggregated underneath minorities or people of color, different races and ethnicities. Beginning next year, we will also show that same data stratified at different leadership levels. As this journey is continuing, I think you’ll start to see so many other companies that are beginning to provide much more transparency around their data at different levels, but also be able to chronicle their journey.”

• On recruiting diverse talent into the oil, gas and power industries:
  
  Davis: “When I look at the electric and gas industry compared to retail industries our diversity data does not seem to be as robust. I know we have work to do. We absolutely understand that. We have set a workforce representation target at Duke Energy at 25% female, 20% people of color. At the end of last year, we were about one percent away from that target…we understand what the journey is. We’ve got commitment from our leadership.”
  
  Jourdan: “It’s been a challenge in the energy business to attract people from underrepresented groups and that has been a main focus of ours. Our goal is to reflect what the markets provide in terms of what’s coming out of universities and what’s available in the experienced market. We track those and set aspirational goals around where we want to be. Where we’re challenged the most is in the area of engineering and analytics, STEM subjects. We’ve invested a significant amount of time and effort in those spaces. We’ve invested some $400 million since 2013 in STEM education.”
  
  Davis: “We made a much more intentional focus around going places where we would be able to speak to diverse talent whether it be historically black college and universities (HBCUs), the Society of Women Engineers, National Association of Black Engineers and being very active in those spaces in order to tell diverse talent about our roles. A big part of it is around awareness of the roles that we have. The electric and gas industry feels a little stodgy for many of our talent that is coming out of colleges and universities—they are looking at Facebook, Microsoft and Amazon. We were very intentional about trying to reach bright, wonderful and diverse candidates where they exist.”
  
  Jourdan: “We recruited our first HBCU graduate in 1979 and he’s been with us for 41 years. We recruit regularly from HBCUs. This year we invited the president of the Thurgood Marshall Fund, who oversees a network of HBCU presidents, to meet with our C-Suite. We sat down with them for an hour and a half and talked to them about what they need. Along with that we wanted to understand how we can become a better partner, what is it that you need, how can we expand this pipeline and get more involved in your programs from the ground up?
  
  “Also, we’re not just focusing on HBCUs. We look at PWIs—Predominantly White Institutions. We develop programs with universities like the University of Illinois, Texas A&M and Mississippi State to provide a feeder pipeline from junior colleges and sponsor people from underrepresented groups into that pipeline so they have a stepping stone from those junior colleges into those larger universities and then from there we provide interviews for internships.”

Watch the complete video at: www.ceraweek.com/conversations

About CERAWeek Conversations:

CERAWeek Conversations features original interviews and discussion with energy industry leaders, government officials and policymakers, leaders from the technology, financial and industrial communities—and energy technology innovators.

The series is produced by the team responsible for the world’s preeminent energy conference, CERAWeek by IHS Markit.

New installments will be added weekly at www.ceraweek.com/conversations.

Recent segments also include:

• Leadership Dialogue: Ignacio S. Galán – Iberdrola Chairman and CEO interviewed by IHS Markit Vice Chairman Daniel Yergin
• Leadership Dialogue: Vicki Hollub – Occidental President and CEO interviewed by IHS Markit Vice Chairman Daniel Yergin
• Post-Election Outlook: Energy, Climate & Geopolitics – Meghan L. O'Sullivan, Jeane Kirkpatrick Professor International Affairs, Harvard University; Atul Arya, chief energy strategist, IHS Markit; Nariman Behravesh, chief economist, IHS Markit. Moderated by IHS Markit Senior Vice President Carlos Pascual
• Growing Share of Gas in India's Energy Mix: What is realistic? – Meg Gentle, president and CEO, Tellurian Inc.; Manoj Jain, chairman and managing director, GAIL India Ltd.; Ernie Thrasher, CEO and chief marketing officer, Xcoal Energy & Resources. Moderated by Michael Stoppard, chief strategist, global gas, IHS Markit

A complete video library is available at www.ceraweek.com/conversations.

####

About IHS Markit (www.ihsmarkit.com)

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

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

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The Mattabassett District implemented plant-wide conservation measures to reduce energy consumption and generate more than $1M in energy cost savings over the 12-year contract term

FRAMINGHAM, Mass. & CROMWELL, Conn.--(BUSINESS WIRE)--#efficiency--Ameresco, Inc., (NYSE: AMRC), a leading energy efficiency and renewable energy company, today announced the completion of a plant-wide energy efficiency project for The Mattabassett District in Cromwell, Connecticut. Under this energy services agreement (ESA), the project includes energy conservation measures across 9 buildings and operations, resulting in more than $1M in energy cost savings over the 12-year contract term.

Situated alongside the Connecticut River, the Mattabassett District provides wastewater treatment services for New Britain, Middletown, Berlin and Cromwell, processing between 12 and 21 million gallons (on average) every day, with a peak capacity of 110 million gallons per day. As the District’s project partner, Ameresco has implemented and improved numerous energy conservation measures, including plant-wide integrated temperature controls, a modernized building lighting system, high efficiency HVAC units and low voltage transformer replacements. The project will guarantee an estimated 581,909 kWh in total energy savings.

“The Mattabassett District is one of the most efficient facilities in the state, often highlighted as a model for success for conservation planning within our region and beyond,” said Art Simonian, Executive Director of the Mattabassett District. “Our partnership with Ameresco ensures that we’re able to incorporate industry-leading technologies and improvements to continue to provide the highest level of results for our communities.”

The Mattabassett District executed the Energy Services Agreement, valued at $983,482 with Ameresco in June 2019. Detailed audit and collaborative project selection work followed Ameresco being awarded the project in June 2017 after responding to a Request for Qualifications for Energy Management Services in March 2017.

“We are proud to have partnered with the Mattabassett District to improve their energy efficiency infrastructure,” said David Anderson, Executive Vice President and Director of Ameresco. “The District has already been maintaining their operating cost levels among the lowest in the country for a wastewater treatment facility. Our collaboration will further reduce those costs and assist the District to further elevate the bar for excellence in impactful sustainable practices within the industry.”

Construction for the project at 245 Main Street was completed in November 2020.

To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.

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

About The Mattabassett District
The Mattabassett District is a unique institution formed by the State Legislature in 1961 to provide wastewater treatment in a more efficient and cost effective manner to its four constituent communities, New Britain, Middletown, Berlin and Cromwell, than they could independently, as well as adjoining communities in its watershed. Currently this includes portions of Farmington, Newington, and Rocky Hill. For more information, visit www.mattabassettdistrict.org.

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

Media Contact:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
The Mattabassett District: Arthur G. Simonian, P.E., 860-635-5550 This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "China LPG Market Analysis Plant Capacity, Production, Operating Efficiency, Demand & Supply, End User Industries, Distribution Channel, Region-Wise Demand, Import & Export , 2015-2030" report has been added to ResearchAndMarkets.com's offering.

China is one of the world's largest consumers of global LPG. The government's increased incentivization, start-up subsidies and distribution licenses to promote increased consumption and usage of LPG fuels especially in the transport sector are set to accelerate the market growth in the forecast period. China's LPG industry has shown moderate growth in the past five years and is anticipated to grow nearly at a CAGR of 4.7% during the forecast period. Northern and eastern coastal regions of China typically have relatively high LPG penetration due to growing demand from transport and nascent pet chem sectors.

Years Considered for Analysis:

• Historical Years: 2015 - 2018
• Base Year: 2019
• Estimated Year: 2020
• Forecast Period: 2021 - 2030

Key highlights:

• Installed Capacity By Company: Installed capacity within the country along with individual capacity of leading players
• Installed Capacity By Location: Installed capacity at several locations across the country
• Production By Company: Actual production done by different companies
• Operating Efficiency By Company: Operating efficiency at which different companies are operating their plants
• Demand By End Use: Demand/Sale of LPG in different end user industries across the country
• Demand By Sales Channel: Demand/Sale of LPG by different sales channels across the country
• Demand By Region: Demand/Sale of LPG in different regions of the country
• Country Wise Exports: Exports of LPG by Different Countries
• Country Wise Imports: Imports of LPG by Different Countries
• Demand & Supply Gap: Demand & Supply Gap at country level
• Market Share of Leading Players: Revenue shares of leading players in the country
• News & Deals" Historical & Current News & Deals in LPG market

Key Topics Covered:

• China LPG Market Outlook, 2015-2030
• Capacity By Company
• Capacity By Location
• Production By Company
• Operating Efficiency By Company
• Demand By End Use (Household, Commercial, Industrial, Transportation and Others)
• Demand By Sales Channel (Direct/Institutional Sales, Retail Sales, Other Channel Sales)
• Demand By Region
• Country Wise Exports
• Country Wise Imports
• Demand & Supply Gap
• Market Share of Leading Players
• News & Deals

For more information about this report visit https://www.researchandmarkets.com/r/i1xw6c

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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

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

Consolidated revenues for the quarter ended October 31, 2020 were $127.3 million, which represented an increase of $68.9 million, or 118%, from consolidated revenues of $58.4 million reported for the three months ended October 31, 2019. The increase was primarily due to increasing revenues at Gemma Power Systems (“GPS”) associated with the construction of the Guernsey Power Station, which did not commence until the third quarter last year.

During October 2020, Atlantic Projects Company (“APC”) and its customer agreed to additional contractual changes that effectively completed the fixed price TeesREP subcontract and that establishes a time-and-materials contractual arrangement covering any additional works requested by APC’s customer until the overall completion of the power plant construction. The effects of the contract changes and amounts earned on the performance of related construction activity resulted in consolidated gross profit for the third quarter in the amount of $2.8 million on the project. As APC completes this three and a half year project in the coming months, the expected final amount of the TeesREP fixed-price subcontract loss is $29.5 million.

Even with increased revenues, we believe that all of our businesses were adversely impacted during the three months ended October 31, 2020, to some degree, by continuing difficulties presented by the COVID-19 outbreaks. These difficulties include delayed project starts and awards, restrictive and reduced work environments, additional health and safety costs, and complying with various government lockdowns and restrictions.

Consolidated gross profit for the three months ended October 31, 2020 was $20.3 million, or 16.0% of the corresponding consolidated revenues, which reflected the favorable impacts of the higher consolidated revenues and the adjustments recorded in connection with the negotiation of the latest change to the TeesREP subcontract.

Selling, general and administrative expenses for the three months ended October 31, 2020 and 2019 were $9.4 million and $12.1 million, respectively. The decline was due primarily to the increased utilization of staff by GPS on the Guernsey Power Station and reductions in the costs of travel reflecting COVID-19 restrictions. Due in part to the extremely low rates of return on amounts invested in cash equivalents during the current year, other income declined to $0.2 million for the three months ended October 31, 2020 from $3.6 million for the comparable quarter of the prior year despite the increase in the amount of invested funds between years. In addition, other income for the three months ended October 31, 2019 included a pre-tax gain of $2.2 million which was recorded by the consolidated variable interest entity in connection with the grant of a utility easement at the planned site of a new gas-fired power plant. This gain was also reflected in the amount of net income attributable to non-controlling interests for the three months ended October 31, 2019.

With results reflecting primarily the factors identified above, the consolidated net income attributable to Argan’s stockholders was $9.5 million, or $0.60 per diluted share, for the three months ended October 31, 2020. The Company paid its regular quarterly cash dividend of $0.25 per share to its shareholders on October 30, 2020.

As of October 31, 2020, cash, cash equivalents and short-term investments totaled $443 million and net liquidity was $278 million; furthermore, the Company had no debt. The Company’s consolidated amount of RUPO, which represents an accounting value for active work, was approximately $0.6 billion as of October 31, 2020.

The aggregate amount of the rated power represented by the natural gas-fired power plants for which GPS has signed EPC contracts, including the Guernsey Power Station and certain plants that will have the ability to burn natural gas mixed with green hydrogen as fuel, is approximately 6.4 gigawatts with an aggregate contract value of approximately $3.0 billion. For those contracts not already included in project backlog, the Company anticipates adding them closer to their respective expected start dates when the projects complete key development milestones and obtain financing commitments. For all projects, the start date for construction is primarily controlled by the project owners.

Management Comment

Commenting on Argan’s results, Rainer Bosselmann, Chairman and Chief Executive Officer, stated, “We are pleased with the continued improvement in our financial results and strong performance of our employees during this COVID-19 pandemic. GPS continues to increase activities and execute on the Guernsey project which is the largest in our history. Our other subsidiaries have generally increased the number of revenue opportunities and we believe these positive trends will continue. While certain EPC project development timelines have proven to be longer than originally anticipated and it is possible that some of these projects ultimately will not be built, we have approximately $3.0 billion in signed EPC contracts for power plant projects. Even though many factors are out of our control, we are optimistic that we will receive the construction go ahead on several of these projects and others over the next twelve months. We look forward to increasing revenues and financial performance next year and extend our sincere wishes to all for safety during these challenging times.”

About Argan, Inc.

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

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and the Company’s future financial performance is subject to risks and uncertainties including but not limited to APC’s ability to complete its loss subcontract without additional unfavorable effects, the successful addition of new contracts to project backlog, the receipt of corresponding notices to proceed with contract activities, the Company’s ability to successfully complete the projects that it obtains, and the Company’s success in minimizing the adverse impacts of the COVID-19 pandemic on the Company’s businesses. The Company has several signed EPC contracts that have not started and may not start as forecasted due to market and other circumstances beyond its control. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to the number of factors described from time to time in the Company’s SEC filings. In addition, reference is hereby made to the cautionary statements made by the Company with respect to risk factors set forth in its most recent reports on Form 10-K, Forms 10-Q and other SEC filings.

⁽¹⁾ Amounts derived from audited consolidated financial statements.

Company Contact:
Rainer Bosselmann
301.315.0027

Investor Relations Contact:
David Watson
301.315.0027

DUBLIN--(BUSINESS WIRE)--The "Global Renewable Diesel Market (by Capacity and Demand): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.

The global renewable diesel capacity is expected to reach 14.63 million tons in 2024, growing at a CAGR of 21.33%, during 2020-2024. While, the global renewable diesel demand is projected to reach 12.88 million tons, increasing at a CAGR of 15.93%, during 2020-2024. The factors such as growing production of motor vehicles, increase in biofuel demand, rise in carbon dioxide emission, availability of used cooking oils and emission control regulations by the government would drive the growth of the market. However, the growth of the market would be challenged by insufficient availability of feedstock and problems associated with the quality control of renewable diesel. A few notable trends may include increasing R&D spending in the energy sector, upsurge in energy consumption and rising usage of biomass-based diesel.

Renewable diesel market holds a very lucrative future as the demand for more sustainable fuel options continues to grow speedily. Rising concerns regarding greenhouse gas emissions are resulting in the implementation of several environmental regulations across the world. Such regulations are leading to the introduction of various programmes, supporting the consumption of renewable diesel, due to the presence of a wide range of benefits, which is expected to contribute to the huge demand for renewable diesel globally.

The fastest-growing regional market is Europe, due to the launch of Renewable Diesel Directive (RED) II, which has supported the consumption of sustainable fuel options to a great extent and thereby resulted in the increased demand for renewable diesel. While the growing number of mandates regarding emission control in both automotive as well as aviation industries are contributing to the rising demand for renewable diesel in the Americas and Asia.

Scope of the Report:

• The report provides a comprehensive analysis of the global renewable diesel market.
• The major regional markets (Europe, Americas and Asia) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Total S.A., Valero Energy, Eni, Neste, HollyFrontier and Renewable Energy Group) are also presented in detail.

Key Topics Covered:

1. Market Overview

1.1 Introduction

1.2 Differences in Diesel Fuels

1.3 Production Methods of Renewable Diesel

1.4 Advantages of Renewable Diesel

1.5 Process of Refining Renewable Diesel

2. Impact of COVID-19

2.1 Downfall in the Global Economy

2.2 Decline in the International Trade

2.3 Strategies to Overcome the Global Crises

3. Global Market Analysis

3.1 Global Renewable Diesel Capacity

3.2 Global Renewable Diesel Capacity Forecast

3.3 Global Renewable Diesel Capacity by Region

3.4 Global Renewable Diesel Demand

3.5 Global Renewable Diesel Demand Forecast

3.6 Global Renewable Diesel Demand by Region

4. Regional Market Analysis

4.1 Europe

4.2 Americas

4.3 Asia

5. Market Dynamics

5.1 Growth Drivers

5.1.1 Growing Production of Motor Vehicles

5.1.2 Increase in Biofuel Demand

5.1.3 Rise in Carbon Dioxide Emission

5.1.4 Availability of Used Cooking Oils

5.1.5 Emission Control Regulations by Government

5.2 Key Trends and Developments

5.2.1 Increasing R&D Spending in Energy Sector

5.2.2 Upsurge in Energy Consumption

5.2.3 Rising Usage of Biomass-Based Diesel

5.3 Challenges

5.3.1 Insufficient Availability of Feedstocks

5.3.2 Problems Associated with the Quality Control of Renewable Diesel

6. Competitive Landscape

6.1 Global Market

6.1.1 Key Players - Revenue Comparison

6.1.2 Key Players - Market Cap Comparison

6.1.3 Key Players - Renewable Diesel Capacity Expansion Comparison

6.1.4 Key Players - Renewable Diesel Market Share Comparison

6.2 The U.S. Market

6.2.1 Key Players - Renewable Diesel Market Share Comparison

7. Company Profiles

• Eni
• HollyFrontier
• Neste
• Renewable Energy Group
• Total S.A.
• Valero Energy

For more information about this report visit https://www.researchandmarkets.com/r/xf7btt

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SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) received an A- from CDP for its 2020 climate disclosure, securing a top score at CDP’s Leadership Level. CRC once again received the highest ranking among all U.S. oil and gas companies, tying for first with one other U.S.-based E&P with global operations. Scoring at CDP’s Leadership Level for two years in a row further highlights CRC’s differentiated value as a dedicated and dependable energy producer for Californians with 2030 Sustainability Goals that align with California’s, as highlighted in our recent 2019 Sustainability Report.

Todd Stevens, President and CEO of CRC, noted, “We are extremely pleased with CDP’s ranking of our 2020 climate disclosure at its leadership level for the second year in a row. This ranking underscores CRC’s strong Environmental, Social and Governance (ESG) principles, and the dedication of our workforce to safely, responsibly and sustainably meet California’s energy demand while abiding by the high standards Californians expect. Our 2030 Sustainability Goals and ESG principles are a strategic differentiator among Global and North American energy producers, and we look forward to advancing our industry-leading sustainability projects that we believe are integral to achieving California’s climate goals under the Paris Climate Accord.”

CDP is an international non-profit that developed a robust global evaluation and scoring system to assess the world’s companies on their environmental transparency and performance. CDP scoring measures the comprehensiveness of disclosure, awareness and management of environmental risks and best practices associated with environmental leadership, such as setting ambitious and meaningful targets. The complete list of ratings of companies from around the world can be found at https://www.cdp.net/en/companies/companies-scores.

For more information about sustainability at CRC, please visit our Sustainability page at https://crc.com/sustainability.

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.

About CDP

CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. The world’s economy looks to CDP as the gold standard of environmental reporting with the richest and most comprehensive dataset on corporate and city action.

Scott Espenshade
Investor Relations
818-661-6010
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Margita Thompson
Public Affairs
818-661-6005
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Urban Paul
HSE & Sustainability
661-412-5100
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• Agreement lays groundwork for bp pulse to be the exclusive UK provider and operator of FreeWire’s Boost Charger
• Innovative battery-integrated charger enables the rapid deployment of ultra-fast EV charging without relying on grid upgrades

SAN LEANDRO, Calif.--(BUSINESS WIRE)--#boostcharger--bp pulse, one of the UK’s leading providers of electric vehicle (EV) charging infrastructure, and FreeWire Technologies, a technology leader in EV charging and power solutions, have signed an exclusive MOU for bp pulse to deploy FreeWire’s Boost Charger™ in its operations across the UK.

The agreement is the basis for a significant step forward for bp pulse’s capabilities in the UK as FreeWire’s technology enables faster and more widespread charger deployment thanks to the battery-integrated charging technology, removing the need for every ultra-fast charger installation to have a high power grid connection.

The initial agreement between the two companies, which if finalized could be valued at more than $50 million, will help bp pulse to meet its goal of operating 700 or more ultra-fast public chargers by 2025. The Boost Charger is an integrated solution that provides premium ultra-fast charging without requiring costly and time-intensive grid upgrades.

“At bp pulse we’re committed to delivering fast, convenient and seamless charging to our customers. FreeWire’s Boost Charger can be an exciting addition to our EV charging solutions, allowing us to expand our network faster, and in more locations than previously possible,” said Ross Mabon, Chief Operating Officer of bp pulse.

“In creating a truly nationwide ultra-fast charging network, this technology will help us to provide coverage in areas where securing new, larger grid connections would make installing such infrastructure more challenging. We’re delighted to have made this initial agreement and look forward to progressing to a full contract.”

The UK has set a target of achieving net-zero carbon emissions by 2050, and the government has announced recently that it will be ending the sale of new petrol and diesel vehicles in 2030, driving increased EV adoption.

"We're thrilled to be working with and supporting bp pulse in its ambitious plans to deploy widespread ultra-fast charging infrastructure across the UK,” said FreeWire CEO Arcady Sosinov. “As a leader in the UK charging market, bp pulse is keenly aware of grid limitations and the challenges of delivering ultra-fast charging in certain locations.

“This agreement is a strong recognition of the benefits of battery-integrated charging technology and its ability to accelerate an all-electric future."

Most new pure electric cars on sale in the UK have a maximum charging speed of 100kW or higher, so the demand for ultra-fast charging is increasing. Ultra-fast charging speeds such as those offered by the Boost Charger can allow vehicles that can accept such charging speeds to reach the same level of charge in half the time – or less – than a typical 50kW rapid charger.

FreeWire’s Boost Charger connects to existing low-voltage grid connections while enabling ultra-fast charging using an integrated 160 kWh lithium-ion battery. This technological innovation can virtually eliminate the costs associated with grid upgrades and reduces ongoing costs by reducing standing charges for electricity supply at the site.

The Boost Charger only requires a relatively modest grid connection, similar to a typical household supply, to trickle charge the battery and provide an additional power boost while charging, if required.

EV charging can place significant demands on the grid, especially on a local level and certain locations can’t be easily upgraded to high power connections. The flexibility of the Boost Charger solution means that significantly more locations will be able to benefit from ultra-fast charging.

About FreeWire Technologies, Inc.

FreeWire's turnkey power solutions deliver energy whenever and wherever it's needed for reliable electrification beyond the grid. With scalable clean power that moves to meet demand, FreeWire customers can tackle new applications and deploy new business models without the complexity of upgrading traditional energy infrastructure.

About bp pulse

bp pulse (formerly bp Chargemaster) is one of the UK’s leading providers of electric vehicle charging infrastructure and operates the largest electric vehicle charging network in the UK. Founded in 2008, the company provides a comprehensive, flexible and practical range of electric vehicle charging solutions. bp pulse has supplied over 60,000 public, workplace and home charging units, and is now rolling out 150kW ultra-rapid chargers on bp retail sites.

FreeWire Technologies, Inc.
Connor Botkin, 415.779.5515 ext. 2000
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HOUSTON--(BUSINESS WIRE)--#DNOW--NOW Inc. (NYSE:DNOW) has scheduled a conference call to discuss fourth quarter and full-year 2020 earnings on Wednesday, February 17, 2021 at 8:00 am (US Central Time). Financial results for the fourth quarter and the year ending December 31, 2020 are expected to be released that morning before the market opens.

The call will be broadcast through the Investor Relations link on NOW Inc.’s web site at ir.distributionnow.com on a listen-only basis. Listeners should log in prior to the start of the call to register for the webcast. A replay of the call will be available online for thirty days following the conference. Participants may also join the conference call by dialing 1-800-446-1671 within North America or 1-847-413-3362 outside of North America five to ten minutes prior to the scheduled start time and ask for the “NOW Inc. Earnings Conference Call” or the “DistributionNOW Earnings Conference Call.”

DistributionNOW is a worldwide supplier of energy and industrial products and engineered equipment solutions. With approximately 2,550 employees and a network of approximately 200 locations worldwide, we offer a suite of digital solutions branded as DigitalNOW® that provide customers world-class technology for digital commerce and data and information management. Our locations provide products and solutions to exploration and production companies, energy transmission and storage companies, refineries, chemical companies, utilities, mining, municipal water, manufacturers and engineering and construction companies. DistributionNOW has a legacy of over 150 years and is headquartered in Houston, Texas.

Mark Johnson
Senior Vice President and Chief Financial Officer
(281) 823-4754

TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (TSX:SPB):

December 2020 Cash Dividend - $0.06 per share
Superior Plus Corp. (“Superior”) today announced its cash dividend for the month of December 2020 of $0.06 per share payable on January 15, 2021. The record date is December 31, 2020 and the ex-dividend date will be December 30, 2020. Superior’s annualized cash dividend rate is currently $0.72 per share. This dividend is an eligible dividend for Canadian income tax purposes.

About the Corporation
Superior consists of two primary operating businesses: Energy Distribution includes the distribution of propane and distillates, and Specialty Chemicals includes the production and distribution of specialty chemicals products.

For further information about Superior, please visit our website at: www.superiorplus.com.

Forward Looking Information
This news release contains certain forward-looking information and statements that are based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, "expects", "annualized", and similar expressions.

In particular, this news release contains forward-looking statements and information relating to: future dividends which may be declared on Superior’s common shares, the dividend payment, the tax treatment thereof, and the receipt of cash dividends. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release, regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2019, which can be found at www.sedar.com.

Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.

Beth Summers
Executive Vice President and Chief Financial Officer
(416) 340-6015

Rob Dorran
Vice President, Investor Relations and Treasurer
(416) 340-6003
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Toll Free: 1-866-490-PLUS (7587)

Expands revenue opportunities with ability to manufacture products for aerospace and defense customers

VERNAL, Utah--(BUSINESS WIRE)--Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or the “Company”), an innovator and manufacturer of drilling tool technologies, today announced that it has been awarded the AS9100D with ISO 9001:2015 certification for its quality management systems (QMS) and for meeting QMS requirements specific to the aviation, space and defense industry.

Troy Meier, Chairman and CEO of SDP commented, “Superior Drilling Products has always had an intent focus on delivering quality. The ISO 9001 certification is validation of our ability to consistently deliver to global quality standards and enables us to qualify as a supplier for a broader base of customers and industries. Of note, we achieved the AS9100D certification which establishes additional requirements for critical industries that expand our addressable market. The certification furthers our commitment to our customers to practice repeatable, reliable, and continuously improving processes that deliver world-class products.”

ISO 9001:2015 is an international QMS standard developed and published by the International Organization for Standardization. AS9100D is an international QMS standard published by the Society of Automotive Engineers (SAE). The standards are based on several quality management principles, including an outlined process-based method, strong customer focus, and involvement of upper-level company leadership. Organizations worldwide use the standard to demonstrate the ability to consistently provide products and services that meet customer and regulatory requirements.

About Superior Drilling Products, Inc.
Superior Drilling Products, Inc. is an innovative, cutting-edge drilling tool technology company providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry. The Company designs, manufactures, repairs and sells drilling tools. SDP drilling solutions include the patented Drill-N-Ream® well bore conditioning tool and the patented Strider™ oscillation system technology. In addition, SDP is a manufacturer and refurbisher of PDC (polycrystalline diamond compact) drill bits for a leading oil field service company. SDP operates a state-of-the-art drill tool fabrication facility, where it manufactures its solutions for the drilling industry, as well as customers’ custom products. The Company’s strategy for growth is to leverage its expertise in drill tool technology and innovative, precision machining in order to broaden its product offerings and solutions for the oil and gas industry.

Additional information about the Company can be found at www.sdpi.com.

Safe Harbor Regarding Forward Looking Statements
This news release contains forward-looking statements and information that are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical fact included in this release, including, without limitations, the ability to expand into the aerospace, space and defense industries, add new customers in these new industries and consistently achieving the QMS standards are forward-looking statements. The use of words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project”, “forecast,” “should” or “plan, and similar expressions are intended to identify forward-looking statements, although not all forward -looking statements contain such identifying words. These statements reflect the beliefs and expectations of the Company and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, the duration of the COVID-19 pandemic and related impact on the oil and natural gas industry, the effectiveness of success at expansion in the Middle East, options available for market channels in North America, the deferral of the commercialization of the Strider technology, the success of the Company’s business strategy and prospects for growth; the market success of the Company’s specialized tools, effectiveness of its sales efforts, its cash flow and liquidity; our ability to maintain our NYSE American listing; financial projections and actual operating results; the amount, nature and timing of capital expenditures; the availability and terms of capital; competition and government regulations; and general economic conditions. These and other factors could adversely affect the outcome and financial effects of the Company’s plans and described herein. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, contact investor relations:
Deborah K. Pawlowski
Kei Advisors LLC
(716) 843-3908
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