WALTHAM, Mass.--(BUSINESS WIRE)--Global Partners LP (NYSE: GLP) today announced the signing of an agreement to purchase the retail fuel and convenience store assets of Connecticut-based Consumers Petroleum of Connecticut, Incorporated.
“Building on our history of successful strategic acquisitions, the pending purchase of Wheels is an excellent fit for Global, and expands our retail business in Connecticut,” said Global Partners President and CEO Eric Slifka. “The team at Consumers Petroleum has built an impressive brand, with locations along high-traffic routes throughout Connecticut. We are excited about adding these facilities to our portfolio and expect the transaction to be accretive within the first full year of operations.”
The acquisition includes 27 company-operated gas stations with “Wheels”-branded convenience stores in Connecticut. The transaction also includes fuel supply agreements for approximately 25 gas stations located in Connecticut and New York. The stations market fuel under the Citgo and Sunoco brands.
“We are very proud of what we have accomplished and the business we have grown over three generations,” said Richard Wiehl, Chairman of Consumers Petroleum/Wheels of CT, Inc. “We are excited to see how Global will continue to grow and improve the Wheels assets and feel that we are leaving the company in good hands.”
The purchase is expected to close in the first half of 2021, subject to regulatory approvals and other customary closing conditions.
About Global Partners LP
With approximately 1,550 locations primarily in the Northeast, Global Partners is one of the region’s largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers. In addition, Global engages in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. Global, a master limited partnership, trades on the New York Stock Exchange under the ticker symbol “GLP.” For additional information, visit www.globalp.com.
Forward-Looking Statements
Certain statements and information in this press release may constitute “forward-looking statements.” The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on Global Partners’ current expectations and beliefs concerning future developments and their potential effect on the Partnership. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Partnership will be those that it anticipates. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Partnership’s control) including, without limitation, the impact and duration of the COVID-19 pandemic, uncertainty around the timing of an economic recovery in the United States which will impact the demand for the products we sell and the services we provide, uncertainty around the impact of the COVID-19 pandemic to our counterparties and our customers and their corresponding ability to perform their obligations and/or utilize the products we sell and/or services we provide, uncertainty around the impact and duration of federal, state and municipal regulations related to the COVID-19 pandemic, and assumptions that could cause actual results to differ materially from the Partnership’s historical experience and present expectations or projections.
For additional information regarding known material factors that could cause actual results to differ from the Partnership’s projected results, please see Global Partners’ filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Partnership undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
Daphne H. Foster
Chief Financial Officer
Global Partners LP
(781) 894-8800
Edward J. Faneuil
Executive Vice President,
General Counsel and Secretary
Global Partners LP
(781) 894-8800
Membership in US-based coalition is latest step in company efforts to achieve carbon emission reduction
VALLEY FORGE, Pa.--(BUSINESS WIRE)--UGI Corporation (NYSE:UGI) announced today that its Natural Gas Businesses group, made up of affiliates UGI Utilities, Inc. and UGI Energy Services LLC, joined the coalition Our Nation’s Energy Future (ONE Future). The UGI membership brings the number of companies participating in ONE Future to 34.
ONE Future was formed in 2014 by natural gas production, transmission and distribution companies with a focus to collectively achieve reductions in the average rate of methane emissions across member facilities equivalent to one percent (or less) of total natural gas production.
“Our membership in ONE Future is another step toward achieving UGI’s ambitious greenhouse gas emission reduction targets,” said Robert F. Beard, UGI Executive Vice President – Natural Gas Businesses. “For over 135 years, UGI has focused on providing safe, reliable service to its customers and to the many communities it serves. We are committed to continued growth in an environmentally responsible manner and believe natural gas plays an important role in a cleaner future,” Beard concluded.
“We remain committed to growing our business responsibly, while meeting the social needs of our customers, employees, and communities,” said John L. Walsh, President and Chief Executive Officer of UGI Corporation. “UGI is proud of the work we’ve accomplished on our many ESG initiatives. We look forward to continuing to enhance and expand our initiatives aimed at lowering methane and greenhouse gas (“GHG”) emissions, enhancing system integrity and improving safety.”
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing in eleven states, the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
Investor Relations
610-337-1000
Brendan Heck, ext. 6608
Alanna Zahora, ext. 1004
Shelly Oates, ext. 3202
Well-Positioned for Growth in 2021 with Backlog of $56 Million and Relationship with GreenBond Advisors
SOUTH BURLINGTON, Vt.--(BUSINESS WIRE)--The Peck Company Holdings, Inc. (NASDAQ: PECK) (the “Company” or “Peck”), a leading commercial solar engineering, procurement and construction (EPC) company, is pleased to provide highlights from recent interviews by Jill Malandrino, Global Markets Reporter for Nasdaq.
To view the full interviews, please click: Nasdaq TradeTalk Interviews
“Financing the transition to renewable energy with green bonds”
November 24, 2020
William Dale, Chief Executive Officer and Jonas Englund, Chief Strategy Officer of GreenBond Advisors provided an in-depth perspective about green bonds and what it means for companies able to access funds to construct renewable energy assets. Mr. Dale explained that it was important for GreenBond Advisors to partner with experts in the field because there are complexities and barriers to entry to moving into this space. Partnering with The Peck Company was important because Peck will have a significant territorial advantage to expand its footprint by having access to capital like the green bond market.
Swedish investment bank SEB, underwriter of the first Green Bond in 2008, has forecast the Green Bond market will exceed $1 trillion by the end of 2020. Many pundits compare the potential growth and demand to mirror that of ETFs which were a $1 trillion asset class 15 years ago, growing into $5 trillion today, as to predict that the Green Bond market asset class will be $5 trillion by 2035.
Dale and Englund believe that we are undergoing a transformational change to a society powered by clean electricity that is being driven by innovation. Forecasters expect renewables to make up 70-80% of electricity generation in 20 years, up from just 28% today. Solar specifically represents less than 2% of the U.S. grid today and is estimated to be at 30% in 20 years. Infrastructure is needed to support such growth, and GreenBond Advisors with its partners like The Peck Company intend to be active in construction and ownership of assets.
In April 2020, Peck and GreenBond Advisors formed a new investment partnership that Peck believes will increase Peck’s access to capital for the construction of new solar projects and to scale its existing pipeline of new EPC business. Peck partnered with GreenSeed Investors LLC and its affiliates GreenBond Advisors LLC and Solar Project Partners LLC to gain access to the rapidly growing Green Bond segment of the fixed income markets. Of note, this partnership provides Peck with access to project growth capital through additional EPC contract work from Green Bond proceeds while improving working capital and strengthening liquidity ratios.
This partnership is a significant strategic advantage for Peck since project financing for constructing new projects will come from the GreenBond partnership and not from Peck’s balance sheet. In addition, owning the projects through the partnership allows Peck to recognize all construction revenue and to participate in recurring revenue streams from the owned assets.
Benefits to Peck for projects constructed through the GreenBond partnership:
“2021 outlook and trends in the solar space”
November 23, 2020
Daniel Dus, Head of Renewables at Adani Solar USA and Board Member of The Peck Company Holdings, commented about solar being a critical infrastructure and has been resilient even during the recent pandemic and economic downturns. Dus says that 100 GWs of solar infrastructure will be constructed over the next 5 years, representing 50% growth. Technology improvement has enabled lower cost of energy, caused increased adoption and expanded the size of the market. The upcoming U.S. political environment under soon-to-be President Biden is also expected to increase support of renewables and specifically solar, which Dus believes will accelerate the expansion of needed infrastructure.
“M&A activity and financing new projects through Green Bonds”
October 19, 2020
Jeffrey Peck, Chief Executive Officer of The Peck Company Holdings, discussed the Company’s three pronged growth strategy, including organic growth, accretive M&A and owning assets for recurring revenue. The Company grew its project revenue by nearly 69% in its first year as a public company and its current project backlog for 2021 is over $50 million. Peck has expanded its reach in the New England area, having recently been awarded new projects in Maine and Rhode Island. The Company continues to identify and analyze a robust pipeline of accretive M&A targets that would benefit from accessing the public markets through a transaction with Peck. Additionally, Peck’s green bond partnership announced in April 2020 is a unique advantage for a solar EPC to drive both top line revenue for EPC construction and recurring revenue from owning solar assets.
About The Peck Company Holdings, Inc.
Headquartered in South Burlington, VT, The Peck Company Holdings, Inc. is a 2nd-generation family business founded in 1972 and rooted in values that align people, purpose, and profitability. Ranked by Solar Power World as one of the leading commercial solar contractors in the Northeastern United States, the Company provides EPC services to solar energy customers for projects ranging in size from several kilowatts for residential properties to multi-megawatt systems for large commercial and utility scale projects. The Company has installed over 160 megawatts worth of solar systems since it started installing solar in 2012 and continues its focus on profitable growth opportunities. Please visit www.peckcompany.com for additional information.
About GreenBond Advisors, LLC
Headquartered in New York City, NY, GreenBond Advisors was recently formed to deliver financial product innovation into the Green Bond market with new Green Bond product designs that allow risk-adverse investment capital to be more easily directed into new green energy infrastructure development. GreenBond Advisors works with an ecosystem of affiliate companies and partnerships designed to help conservative investors earn competitive rates of return while making a measurable impact on the transition to a world powered by clean energy. Please visit www.greenbondadvisors.com for additional information.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.
Michael d’Amato
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ClearThink
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Applications Available Now; Deadline is Feb. 12, 2021
SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) announced today that scholarship applications are now being accepted for college-bound high schoolers as well as current college and continuing education students with a primary residence that’s a PG&E customer in Northern and Central California.
More than 120 awards totaling nearly $300,000 are being made available through PG&E’s employee resource group (ERG) and engineering network group (ENG) scholarships.
These scholarships are awarded annually to help offset the cost of higher education. ERG and ENG scholarship winners will receive awards ranging from $1,000 to $6,000 for exemplary scholastic achievement and community leadership.
PG&E ERG and ENG scholarship information, including criteria and applications, is available on PG&E’s website. To be considered for a scholarship, all applications must be submitted by Feb. 12, 2021.
“Many of our ERG scholarship recipients are the first in their families to attend college. They will be tomorrow’s leaders and innovators. Our ERG scholarships take on even more importance this year because some of our applicants could’ve experienced financial challenges due to COVID-19. We’re proud to invest in these promising young people,” said Mary King, PG&E vice president of human resources and chief diversity officer.
“It’s more than just funds for tuition. Many of our applicants are looking to ensure their families wouldn’t have to make significant financial sacrifices so they could pursue college. These students are more than just straight A’s and perfect test scores. They’re inspiring members of our community destined to accomplish great things,” said Alyssa Piring, a PG&E gas program manager who previously received an ERG scholarship.
Since 1989, PG&E’s ERGs and ENGs have awarded more than $5 million in scholarships to thousands of recipients. The funds are raised totally through employee donations, employee fundraising events and Campaign for the Community, the company’s employee giving program.
Nearly 6,000 PG&E employees belong to the ERGs and ENGs. Each group helps further the company’s commitment to serving its communities and growing employee engagement.
PG&E’s ERG and ENG scholarships are available through these 13 groups:
In addition to the PG&E scholarships, the Pacific Service Employees Association (PSEA), a non-profit mutual benefit organization serving PG&E employees and retirees, also provides scholarships for dependents of company employees.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation’s cleanest energy to 16 million people in Northern and Central California. For more information, visit www.pge.com/ and http://www.pge.com/news.
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New RFPs and “solar after sunset” agreement will meet customers’ growing energy needs with more clean resources
PHOENIX--(BUSINESS WIRE)--Arizona Public Service Company (APS) is taking more steps to deliver on its commitment to serve one of the fastest-growing service territories in the country with 100% clean energy by 2050. APS issued two requests for proposals (RFP) — one to acquire both renewable energy and additional peaking capacity resources, and the other to install more battery energy storage at two existing APS solar plants. APS also recently executed an agreement with Invenergy to add battery energy storage to six APS solar plants located in Maricopa County and Yuma County.
The plans to pair storage with solar through this new RFP and the work with Invenergy were part of a suite of clean energy projects that APS announced last year. The addition of this technology will extend the benefits of “solar after sunset,” when customers’ summer energy needs remain at peak levels. These ambitious storage plans were followed by a clean energy commitment made earlier this year that set APS on a path to achieve a carbon-free power mix by 2050.
“We have made steady progress since setting our clean energy goal in January,” said Brad Albert, APS Vice President of Resource Management. “Moving ahead with our energy storage plans, our recent purchase of more clean wind generation, and our expanded voluntary energy conservation program all support meeting the needs of our growing customer base with reliable, affordable and increasingly cleaner resources.”
All Source RFP
APS requests renewable energy resources of approximately 300-400 megawatts (MW) per year which will increase the amount of clean energy on the APS system. The RFP also is designed to address peak capacity needs of about 200-300 MW per year to maintain reliable electric service for customers during times of highest energy usage. Procuring more renewable energy supports an interim target within APS’s clean energy commitment: to have 45% of its generation portfolio in renewables by 2030. This RFP is open to all technologies, including supply side and non-supply side resources. Proposed projects must have in-service dates in either 2023 or 2024.
Battery Energy Storage RFP
APS requests a combined total of 60 MW of battery storage additions to two of its existing AZ Sun Project solar facilities: the Red Rock and Chino Valley plants located in Pinal County and Yavapai County, respectively. Proposed projects must begin delivery no later than June 1, 2023.
The RFP process will be monitored and reviewed by a third-party independent monitor. The All Source RFP, Battery Energy Storage RFP and important information about proposal requirements and respondent registration are available at aps.com/rfp.
Added Battery Capacity to AZ Sun Sites
Battery energy storage systems will be developed and installed by Invenergy at six of APS’s existing large-scale solar power plants and will begin operation in early 2022. Since announcing these plans last year, APS has now executed the agreement after working with Invenergy to incorporate enhanced safety standards in battery energy storage.
APS serves nearly 1.3 million homes and businesses in 11 of Arizona’s 15 counties, and is a leader in delivering affordable, clean and reliable energy in the Southwest. The company is committed to serving customers with 100% clean power by 2050. As owner and operator of Palo Verde Generating Station, the nation’s largest producer of carbon-free electricity, and with one of the country’s most substantial renewable energy portfolios, APS’s current energy mix is 50% clean. With headquarters in Phoenix, APS is the principal subsidiary of Pinnacle West Capital Corp. (NYSE: PNW).
Media Contact:
Yessica del Rincón (480) 209-8513
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Analyst Contact:
Stefanie Layton (602) 250-4541
Website: aps.com/newsroom
DUBLIN--(BUSINESS WIRE)--The "Solar Generators - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The publisher brings years of research experience to the 9th edition of this report. The 301-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Solar Generators Market to Reach $563 Million by 2027
Amid the COVID-19 crisis, the global market for Solar Generators estimated at US$404.1 Million in the year 2020, is projected to reach a revised size of US$563 Million by 2027, growing at a CAGR of 4.9% over the period 2020-2027.
Off-Grid, one of the segments analyzed in the report, is projected to record 4.4% CAGR and reach US$323.5 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the On-Grid segment is readjusted to a revised 5.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $109.6 Million, While China is Forecast to Grow at 7.5% CAGR
The Solar Generators market in the U.S. is estimated at US$109.6 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$114.4 Million by the year 2027 trailing a CAGR of 7.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 4.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR.
Competitors identified in this market include, among others:
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/v18juf
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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T-Body High Pressure Control Valve will address a major oil production issue
OKLAHOMA CITY--(BUSINESS WIRE)--Kimray has announced the release of a new product designed to increase uptime for oil and gas producers, especially in erosive applications.
The T-Body High Pressure Control Valve is designed with a strategically placed hardened wear plug, which can be easily inspected and replaced as needed. This feature reduces the potential for valve bodies themselves to be compromised, which can cause a loss of production fluid as well as safety and environmental hazards.
“We are really excited about what this valve is going to do for our partners in the oil and gas industry,” said Brian Levings, product manager with Kimray. “Producers are dealing with extremely high volumes of production that include sand and other elements that can really beat up a valve. This new option will give them protection against these abrasives in their control valves and allow them to produce oil and gas more efficiently.”
The valve can also be configured in through-body or angle-body orientation, giving producers increased inventory control.
The T-Body High Pressure Control Valve is now available through Kimray’s regional Sales and Service Stores, and authorized distributor locations.
Founded in 1948, Kimray develops products that help customers produce energy. Major customers of Kimray include Marathon Petroleum, Occidental Energy and Devon Energy. Kimray’s corporate headquarters is in Oklahoma City, Oklahoma. More information about the T-Body High Pressure Control Valve can be found at kimray.com.
Click to download photo.
About Kimray
Founded in 1948, Kimray is a world-class manufacturer of control equipment used extensively in oil and gas production in North America and around the globe. The company is headquartered in Oklahoma City.
Dustin Anderson
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405-525-6601
DUBLIN--(BUSINESS WIRE)--The "Jet Fuel Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market for jet fuel is expected to register a CAGR of more than 11% during the forecast period of 2020 - 2025.
Stronger economic growth is pushing air passenger traffic ahead of capacity growth in the recent past. Additionally, falling travel costs have been adding to the airline market growth over the past several years. Therefore, aircraft are being flown more intensively to meet the increasing demand.
Factors, such as increasing air passenger traffic, increasing number of low-cost carriers (LCC) across the world, and increasing demand for air cargo transportation, are expected to drive the jet fuel market in the coming years.
However, increasing penetration of sustainable aviation fuels (SAF), strict emission regulations and a positive trend in the piston engine aircraft deliveries is expected to increase the demand for aviation gasoline (AVGAS) are expected to have a slight impact on the jet fuel market in the coming years.
Commercial application accounts for the largest share in the jet fuel market, owing to the increasing number of air passengers and aircraft fleet across the world.
Increasing concerns over emissions from the airline industry and initiatives by the governments in developed economies to reduce airline emissions are expected to provide significant opportunities for renewable jet fuel in the future.
Asia-Pacific dominated the market across the world as the region witnessed increasing passenger traffic, especially from the emerging economies.
Key Market Trends
Increasing Air Passenger Traffic across the World
The commercial segment accounts for the largest share in the jet fuel market. In 2018, around 4.3 billion passengers were carried by air transport on scheduled services, representing an increase of 6.9% over the previous year. The number of departures rose to approximately 38 million globally, and world passenger traffic, expressed in terms of total scheduled revenue passenger-kilometers (RPKs), grew solidly at 6.7% and reached approximately 8.2 trillion RPKs performed in 2018.
Asia-Pacific to Dominate the Market
In terms of the domestic market, Asia-Pacific, one of the world's largest domestic market with 42% of traffic share in 2018, continued to grow double-digitally at 10.4%, contributed by the strong demand in India and China, owing to their increasing GDP per capita and growing domestic air connectivity.
Competitive Landscape
The jet fuel market is consolidated. Some of the major companies include BP PLC, Exxon Mobil Corporation, Royal Dutch Shell PLC, and Total SA.
Key Topics Covered:
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Government Policies and Regulations
4.4 Recent Trends and Developments
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Fuel Type
5.1.1 Jet A and Jet A1
5.1.2 Jet B
5.2 Application
5.2.1 Commercial
5.2.2 Defense
5.2.3 General Aviation
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Exxon Mobil Corporation
6.3.2 Qatar Jet Fuel Company
6.3.3 Bharat Petroleum Corp. Ltd
6.3.4 BP PLC
6.3.5 Chevron Corporation
6.3.6 Royal Dutch Shell PLC
6.3.7 Total SA
6.3.8 Allied Aviation Services Inc.
6.3.9 Valero Marketing and Supply
6.3.10 Gazprom Neft PJSC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/yowuy2
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil said today it plans further reductions in greenhouse gas emissions over the next five years to support the goals of the Paris Agreement and anticipates meeting year-end 2020 reductions.
ExxonMobil plans to reduce the intensity of operated upstream greenhouse gas emissions by 15 to 20 percent by 2025, compared to 2016 levels. This will be supported by a 40 to 50 percent decrease in methane intensity, and a 35 to 45 percent decrease in flaring intensity across its global operations. The emission reduction plans, which cover Scope 1 and Scope 2 emissions from operated assets, are projected to be consistent with the goals of the Paris Agreement. The company also plans to align with the World Bank’s initiative to eliminate routine flaring by 2030.
“These meaningful near-term emission reductions result from our ongoing business planning process as we work towards industry-leading greenhouse gas performance across all our business lines,” said Darren Woods, chairman and chief executive officer of Exxon Mobil Corporation. “We respect and support society’s ambition to achieve net zero emissions by 2050, and continue to advocate for policies that promote cost-effective, market-based solutions to address the risks of climate change.”
ExxonMobil’s plans will leverage the continued application of operational efficiencies, and ongoing development and deployment of lower-emission technologies.
The plan is the result of several months of detailed analysis and includes input from shareholders.
Other measures include:
ExxonMobil will also provide Scope 3 emissions on an annual basis, but notes that reporting of these indirect emissions does not ultimately incentivize reductions by the actual emitters. Meaningful decreases in global greenhouse gas emissions will require changes in society’s energy choices coupled with the development and deployment of affordable lower-emission technologies.
Since 2000, the company has invested more than $10 billion researching, developing and deploying lower-emission technologies, including nearly $3 billion at cogeneration facilities that more efficiently produce electricity and reduce related emissions.
In 2018, ExxonMobil announced plans to achieve by year-end 2020, a 15 percent decrease in methane emissions and a 25 percent reduction in flaring, compared with 2016 levels. The company anticipates meeting both by year end. Detailed emissions performance is reported in annual publications, including the Energy and Carbon Summary.
The company has supported the Paris Agreement from its inception and continues to support U.S. government participation in the framework. ExxonMobil assesses its business strategy and plans against a range of scenarios, including those that meet the objectives of the Paris Agreement, which assume progress in technologies, infrastructure and government policies related to climate change.
The company supported the Oil and Gas Climate Initiative’s announcement to reduce methane and carbon intensity for upstream operations. It also deployed new technologies throughout its operations to reduce flaring and methane emissions, while working to test new technologies to detect and measure fugitive emissions. ExxonMobil publicly supports the regulation of methane from new and existing sources and issued a methane regulatory framework for governments to consider as they draft new policies.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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Cautionary Statement
Statements of future events, goals or conditions in this release are forward-looking statements. Actual future results, including project plans and timing, future reductions in emissions and emissions intensity, and the impact of operational and technology efforts could vary depending on the ability to execute operational objectives on a timely and successful basis; changes in laws and regulations including international treaties and laws and regulations regarding greenhouse gas emissions and carbon costs; trade patterns and the development and enforcement of local, national and regional mandates; unforeseen technical or operational difficulties; the outcome of research efforts and future technology developments, including the ability to scale projects and technologies on a commercially competitive basis; changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products; changes in the relative energy mix across activities and geographies; the actions of competitors; changes in regional and global economic growth rates and consumer preferences; the pace of regional and global recovery from the COVID-19 pandemic and actions taken by governments and consumers resulting from the pandemic; changes in population growth, economic development or migration patterns; and other factors discussed in this release and in Item 1A. “Risk Factors” in ExxonMobil’s Annual Report on Form 10-K for 2019 and subsequent Quarterly Reports on Forms 10-Q, as well as under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at www.exxonmobil.com.
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Already recognized as the world leader in robotic solutions for the solar industry, Ecoppia shows a strong pattern of success in India with another large scaled project
HERZELIYA, Israel--(BUSINESS WIRE)--#Solar--Ecoppia (TASE: ECPA), the pioneer and world leader in robotic solutions for photovoltaic solar, announced today yet another significant project of 450MW signed in October with Azure Power, the renowned solar energy player. The project is now reaching advanced stages, scheduled to go live on the beginning of Q1 2021.
Despite the ongoing global pandemic, Ecoppia secured new projects for more than 10GW in the last four quarters, maintaining a compound annual growth rate (CAGR) of more than 280% in the last six years.
Without any physical presence, Ecoppia enabled its clients across the globe to keep an optimal production while avoiding soiling losses and potential damage, delivering operation continuity even during complete lockdown. Covid-19 made it even clearer that full automation and advanced technologies are crucial in maintaining an optimal solar production.
Over the last 7 years, Ecoppia has been one of the vital pillars of the solar revolution, leading the shift in the way large-scale solar sites are managed and operated, as a key for reducing LCOE.
This significant deployment is yet another vote of confidence in Ecoppia by Azure Power, as Ecoppia deepens its compelling market share in India while expanding its global reach with projects in North and Latin America as well as the Middle East.
Azure Power is part of a long list of leading Energy players, realizing the need of an automated operations and management (O&M). While tariffs become lower, the solar industry understand just how crucial efficient O&M can be to remain profitable.
With a growing project pipeline, Azure Power needed a robust solution that can cope with the mass while maintaining an optimal performance, creating a clean-green energy production.
“We are thrilled to be working with such a company that sets high targets both in terms of volume and quality,” said Jean Scemama, CEO of Ecoppia. “We see this long-term partnership as one of the growing signs that the solar industry is revolutionizing towards automated O&M. Ecoppia takes great pride in being at the forefront of this revolution, supporting the green recovery of the post COVID-19 era” he concluded.
About Azure
Azure Power (NYSE: AZRE) is a leading independent solar power producer with a pan-India portfolio of 7.1 gigawatts on June 30, 2020 of which 1.8 GWs is operational, 1.3 GWs are under construction and 4.0 GWs have received a Letter of Award but for which PPAs have yet to be signed. Azure Power developed India's first private utility scale solar project in 2009 and has been at the forefront in the sector as a developer and operator of solar projects since its inception in 2008. With its in-house engineering, procurement and construction expertise and advanced in-house operations and maintenance capability, Azure Power manages the entire development and operation process, providing low-cost solar power solutions to customers throughout India. For more information, visit: www.azurepower.com .
About Ecoppia
With over 16GW of signed agreements, Ecoppia (TASE: ECPA) is a pioneer and world leader in robotic solutions for photovoltaic solar. Ecoppia’s cloud-based, water-free, autonomous robotic systems remove dust from solar panels on a daily basis leveraging sophisticated technology and advanced Business Intelligence capabilities. Remotely managed and controlled, the Ecoppia platform allows solar sites to maintain peak performance with minimal costs and human intervention. Ecoppia’s proprietary algorithms and robotic solutions make day-to-day O&M at solar sites safer, more efficient and more reliable. Publicly held and backed by prominent international investment funds, Ecoppia works with the largest energy companies across the globe, cleaning millions of solar panels every day. For more information, please visit www.ecoppia.com
Anat Cohen Segev
VP Marketing, Ecoppia
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+972-9-8917000
NEW YORK--(BUSINESS WIRE)--Smarter Grid Solutions (SGS) and Rochester Gas and Electric (RG&E), supported by $200,000 funding from the New York State Energy Research & Development Authority (NYSERDA), have partnered on a project that informs the potential of leveraging modern Distributed Energy Resources (DERs) to provision grid services like reactive power dispatch for local voltage support.
The methodology was applied in simulation to a real-world circuit of RG&E - an AVANGRID subsidiary - to fuel technical and financial learnings, aiming to inform utility expansion strategies on the technical aspects surrounding the provisioning and control of distribution grid services, and the financial approaches that can animate a viable reactive power market.
The reactive power market dynamically balances supply and demand using SGS’s Distributed Energy Resource Management System (DERMS) solutions, ANM Strata and ANM Element; which enable the connection of clean energy producers to the grid.
Mark Jaggassar, Director of Grid Analytics at SGS said: “This project is significant because it shows how modern DERs can be utilized to solve grid challenges and so enable their own proliferation. Decarbonizing our electricity grid will introduce new localized challenges, and we’ll need to fuse the latest technology with the right market incentives to unlock a clean grid.
“DERs can do more than we give them credit for, and this study shows how they can be better suited to our increasingly dynamic grid than what is in our conventional toolkit. Exploring how we can enable these capabilities at scale will accelerate our tradition to a clean grid.”
The project focused on two scenarios. First, the Spencerport grid was assessed with 1.65 MegaVolt-Ampere Reactive (MVAr) of fixed capacitor banks providing conventional voltage support by delivering constant reactive power with the DERs dynamically meeting the reactive power needs of the local loads. The two reactive power sources resulted in an additional 10.4 GigaVolt-Ampere Hour (GVArh) of total annual reactive power backfeed being measured.
In the second scenario, the fixed capacitor banks were removed from the model to analyze the impact of relying solely on modern DERs for reactive power support. In this scenario, the DERs were able to dynamically support the grid while maintaining a power factor of 0.97 at the substation, effectively replacing the capacitors and avoiding the excessive reactive power backfeed resulting from the first scenario.
These results demonstrate the potential of modern DERs to provide an alternative to traditional grid assets while also tackling the climate emergency and helping New York move towards its 2050 net zero and Climate Leadership and Community Protection Act (CLCPA) targets.
Christopher Cheng, Smart Grid Senior Project Manager at NYSERDA said: “Utilizing all capabilities of technologies is needed to make the electric power grid smart and responsive.
“Innovations like this that produce mutual benefits for utility operators and DER developers provide the foundation that can revolutionize the efficiency, reliability, resiliency, quality, and overall performance of the electric system, helping move us closer to achieving Governor Cuomo’s nation-leading climate and clean energy goals.”
Bob Manning, Program Director, Smart Grids Innovation and Planning at AVANGRID said: “This project was a crucial first step for RG&E and AVANGRID to become the Distributed System Platform Provider of the future. Agility and collaboration are foundational values that we support, and this work is an example of our commitment to building a cleaner energy future. It was an honor to collaborate with SGS on this effort and we look forward to building upon the valuable lessons learned.”
ENDS
Jasmine Geddes
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DALLAS--(BUSINESS WIRE)--Flowserve Corporation, (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced that its Board of Directors has authorized a quarterly cash dividend of $0.20 per share on the company's outstanding shares of common stock.
The dividend is payable on January 8, 2021, to shareholders of record as of the close of business on December 24, 2020.
While Flowserve currently intends to pay regular quarterly cash dividends for the foreseeable future, any future dividends, at this $0.20 per share rate or otherwise, will be reviewed individually and declared by the Board at its discretion.
Safe Harbor Statement:
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating, planning and compensation decisions and in evaluating the Company's performance. Throughout our materials we refer to non-GAAP measures as “Adjusted.” Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed in addition to, and not as a substitute for, the Company’s reported results prepared in accordance with GAAP.
Flowserve Contacts
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
SAN JOSE, Calif.--(BUSINESS WIRE)--Bloom Energy and El Camino Health today announced the launch of the University of Illinois’ innovative Shield T3 COVID testing system and mobile laboratory at Bloom Energy’s manufacturing facility in Sunnyvale, California.
The new mobile lab, powered and hosted by Bloom Energy, is open to Bay Area businesses and schools for simple, rapid and inexpensive COVID-19 testing.
One in six tests purchased by participating organizations will be donated to Gardner Health Services, a local non-profit healthcare organization, to expand much needed testing capacity in communities most disproportionately impacted by COVID-19.
Pioneered by a team of researchers at the University of Illinois Urbana-Champaign, the Shield T3 test requires only a deposit of saliva instead of an intrusive nasal swab. It takes minutes to administer and aims to generate results within six hours of the test being delivered to the mobile laboratory.
Further, Shield T3 tests for three genes present in the coronavirus, versus other tests which look for just one, earning it a specificity of greater than 99% and very few false positives.
As local businesses and schools continually evaluate ways to safely maintain their essential operations or reopen following shelter in place orders, the new lab enables organizations to collect saliva samples at their workplace or site of choice, eliminating the time-consuming commute to various testing locations by hundreds of employees, staff or students. The samples are then transported to the mobile lab in Sunnyvale for rapid processing.
“The safe continuity of our manufacturing operations is essential to our customers who rely on us for clean and resilient energy,” said Susan Brennan, chief operations officer, Bloom Energy. “By partnering with Shield T3 and El Camino Health, we have significantly improved upon our existing and robust screening for our essential employees so we can provide a safe working environment. We invite other organizations in Silicon Valley, who seek simple, rapid, convenient and inexpensive testing, to join us as we all endeavor to safely and deliberately maintain operations or reopen, while ensuring we can serve our Bay Area communities in need.”
The mobile lab, set up by Shield T3 and overseen by El Camino Health, is a testament to how private and public organizations are working together to create innovative solutions to help combat the unprecedented pandemic. The mobile lab is capable of processing up to 10,000 tests per day, and participating organizations have the flexibility in determining the frequency and variance of testing.
Gardner Health Services will deploy the donated testing kits to a number of its clinics across Santa Clara County to serve in-need communities as they tackle testing demand that far exceeds their current supply. The problem is most acute in Santa Clara County’s hardest hit areas, where positivity rates have topped 15 percent at their East San Jose test site.
“An unprecedented pandemic requires an extraordinary response, and Shield T3 is just that,” said Tim Killeen, President of the University of Illinois System. “We are proud to help Bloom Energy deliver Shield technology that saves lives, improves productivity, ensures well-being, and sees to it that they successfully weather this pandemic.”
While testing plays an important role in limiting disease spread, it is most successful when combined with epidemiological modeling, contact tracing, masks and social distancing.
“We’ve worked hard to make testing widely available to the communities we serve, as it is a critical component in slowing the spread of COVID-19,” said Dan Woods, chief executive officer of El Camino Health. “We’re pleased to partner with Bloom Energy and Shield T3 to bring this new testing option to the Bay Area which includes some of the hardest hit areas of our state.”
“As COVID-19 disproportionately affects racial and ethnic minority communities — many of whom are essential workers or do not have access to healthcare — our mission to create equitable access to testing is more critical than ever,” said Maribel Montanez, director of development, Gardner Health Services. “As a non-profit healthcare organization, we are grateful for the support Bay Area organizations are providing as part of this initiative, ensuring we can serve our communities most in need.”
Organizations interested in using Shield T3’s testing system at Bloom Energy’s Sunnyvale facility or elsewhere can visit us at www.shieldt3.com or bloomenergy.com/COVID19TestLab, or email us at This email address is being protected from spambots. You need JavaScript enabled to view it..
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. Bloom Energy’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.
About Shield T3
Pioneered by researchers at the University of Illinois Urbana Champaign, Shield T3 is a comprehensive solution to curb and control the spread of COVID-19. Shield T3’s I-COVID test functions at a cost, speed and accuracy that outperforms other currently available tests. In addition, the program offers a mobile app that delivers instant notification of test results and keeps constituents informed of testing requirements. Shield innovation is currently in use across the University of Illinois System, and at nearly a dozen other universities and companies globally.
About El Camino Health
El Camino Health provides a personalized healthcare experience at two non-profit acute care hospitals in Los Gatos and Mountain View and at primary care, multi-specialty care, and urgent care locations across Santa Clara County. For nearly sixty years, the organization has grown to meet the needs of individuals and communities it serves. Bringing together the best in new technology and advanced medicine, the network of nationally recognized physicians and care teams deliver high-quality, compassionate care. Key medical specialties include heart and vascular, cancer and lifestyle medicine. The hospitals have earned numerous awards for clinical excellence, such as a 5-Star Overall Hospital Quality Rating from Centers for Medicare & Medicaid Services (CMS), and nursing care, including three consecutive American Nurses Credentialing Center Magnet Recognitions for Nursing Care. Visit elcaminohealth.org to learn more.
Bloom Energy:
Jennifer Duffourg
+1 (480) 341-5464
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Shield T3:
Melissa Harris
+1 (312) 401-7326
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El Camino Health
Christopher Brown
(650) 694-3891
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LEAWOOD, KS--(BUSINESS WIRE)--TortoiseEcofin today announced upcoming additions and deletions to its indices as part of its regular quarterly rebalancing for the fourth quarter of 2020. Following the close of trading on December 18, 2020, the indices will be rebalanced and as a result, the following changes will become effective.
Tortoise MLP Index® (TMLP/TMLPT) |
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Action |
Company |
Ticker |
Deletion |
GasLog Partners LP |
GLOP |
The full constituent list for TMLP can be viewed at https://tortoiseecofin.com/media/1528/tmlp-constituent-overview-91820.pdf
Ecofin Global Water ESG Index SM (EGWESG/EGWESGT) |
||
Action |
Company |
Ticker |
Addition |
Guangdong Investment Ltd |
270 HK |
The full constituent list can be viewed at https://tortoiseecofin.com/media/1260/egwesg-constituent-overview-91820.pdf
Ecofin Global Digital Payments Infrastructure IndexSM (TPMT/TPAYMENT) |
||
Action |
Company |
Ticker |
Addition |
Mitek Systems Inc |
MITK |
Addition |
Nuvei Corp |
NVEI CN |
Addition |
Sezzle Inc |
SZL AU |
Addition |
Splitit Ltd |
SPT AU |
The full constituent list can be viewed at https://tortoiseecofin.com/media/1539/tpmt-constituent-overview-91820.pdf
There were no fourth quarter rebalancing updates to report for the Tortoise North American Pipeline IndexSM (TNAP).
The full constituent list for TNAP can be viewed at https://tortoiseecofin.com/media/1530/tnap-constituent-overview-91820.pdf
About TortoiseEcofin
TortoiseEcofin focuses on essential assets – those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior housing. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. To learn more, visit www.TortoiseEcofin.com.
The Tortoise MLP Index® is a float-adjusted, capitalization weighted index of energy master limited partnerships (MLPs). The index is comprised of publicly traded companies organized in the form of limited partnerships or limited liability companies engaged in transportation, production, processing and/or storage of energy commodities.
The Tortoise North American Pipeline IndexSM is a float-adjusted, capitalization weighted index of pipeline companies that are organized and have their principal place of business in the United States or Canada. A pipeline company is defined as a company that either 1) has been assigned a standard industrial classification (“SIC”) system code that indicates the company operates in the energy pipeline industry or 2) has at least 50% of its assets, cash flow or revenue associated with the operation or ownership of energy pipelines. Pipeline companies engage in the business of transporting natural gas, crude oil and refined products, storing, gathering and processing such gas, oil and products and local gas distribution. The index includes pipeline companies structured as corporations, limited liability companies and master limited partnerships (MLPs).
The Ecofin Global Water ESG Total Return IndexSM is a proprietary, rules-based, modified capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in the water infrastructure or water management industries.
The indices mentioned above are the exclusive property of TIS Advisors, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Tortoise MLP Index®, Tortoise North American Pipeline IndexSM,and Ecofin Global Water ESG IndexSM (the “Indices”). The Indices are not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices will not be liable for any errors or omissions in calculating the Indices. “Calculated by S&P Dow Jones Indices” and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by TIS Advisors and its affiliates. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”).
The Ecofin Global Digital Payments Infrastructure IndexSM represents the existing global digital payments landscape. It is a proprietary, rules-based, modified market capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in digital payments, including merchant processing and settlement, real time record keeping, settlement networks, and Fintech products/ services that facilitate the ease, efficiency, and speed of electronic transactions. This includes companies whose primary business is comprised of one or a combination of the following categories: credit card networks, electronic transaction processing and associated products/services, credit card issuers, electronic transaction processing software (payments Fintech) or online financial services market places.
This index mentioned above is the exclusive property of TIS Advisors and is calculated by Solactive AG (“Solactive”). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive AG (“Solactive”) in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the financial instruments; (b) the quality, accuracy and/or the completeness of the Index or the calculations thereof; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index.
This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. TortoiseEcofin makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Maggie Zastrow
(913) 981-1020 or This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Global Golf Cart Battery Market 2020-2024" report has been added to ResearchAndMarkets.com's offering.
The publisher has been monitoring the golf cart battery market and it is poised to grow by $92.65 million during 2020-2024, progressing at a CAGR of 5% during the forecast period.
The reports on the golf cart battery market provide a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increase in the popularity of professional golf tournaments and the high demand for golf carts powered by Li-ion batteries.
The golf cart battery market analysis includes type segment and geographical landscapes. This study identifies the growing number of golf courses across the world as one of the prime reasons driving the golf cart battery market growth during the next few years.
Companies Mentioned
The golf cart battery market report covers the following areas:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Five Forces Analysis
5. Market Segmentation by Type
6. Customer landscape
7. Geographic Landscape
8. Vendor Landscape
9. Vendor Analysis
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/60pwuk
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company” or “Northern”) today reported that Bahram Akradi, the Non-Executive Chairman of Northern’s Board of Directors, has sold 260,000 shares of Northern common stock. The sale has also been disclosed on a Form 4 filing made with the Securities and Exchange Commission.
Mr. Akradi advised the Company that his decision to sell was required for tax purposes and generated almost $10 million in tax loss, and that he does not currently anticipate additional sales. The shares sold represent just 0.6% of Northern’s outstanding common stock and only 13% of Mr. Akradi’s beneficial holdings in Northern.
“I remain a committed long-term investor in Northern, and I remain confident in our differentiated and advantageous business model,” commented Mr. Akradi. “While these sales were necessary for me personally, I have the utmost faith in our multi-year plan to create value and the continued growth of our free cash flow focused business.”
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the Williston Basin Bakken and Three Forks play in North Dakota and Montana. More information about Northern Oil and Gas, Inc. can be found at www.northernoil.com.
Mike Kelly, CFA
EVP Finance
952-476-9800
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LONDON--(BUSINESS WIRE)--#energysector--Renewable energy sources are preferred by most consumers, large institutions, and governments. Due to the reduced environmental impact, improved quality of power, and lower costs, renewable energy is a significantly better alternative to traditional fossil fuels. High demand and environmental concern are expected to propel growth in the renewable energy sectors. However, companies must be aware of other significant factors impacting change in the industry, including major renewable energy trends. Why must companies be mindful of market trends, and how can they efficiently track these dynamic trends? Being aware of significant renewable energy trends can help energy sector players gain a strategic edge over competitors, stay informed about the changing market dynamics, and capitalize on the most crucial and impactful trends in their market. Infiniti’s trends analysis solutions have helped many top energy sector players identify, evaluate, and strategize for their market trends. To stay a step ahead in the rapidly evolving energy sector, and always keep abreast of renewable energy trends with our trends analysis solutions, request a free proposal.
The energy sector has witnessed significant changes over recent years. Due to rising awareness regarding the world's environmental condition, governments, companies, and consumers are searching for alternative renewable energy sources. Some alternative renewable energy sources that have been widely adopted include solar, wind, and tidal energy sources. However, by impacting supply chains, economic conditions, and spending behaviors, the COVID-19 pandemic substantially slowed down the shift from traditional to renewable energy sources. As the global healthcare industry works toward creating an effective vaccine, businesses prepare for the challenging new normal. This preparation includes maintaining business continuity, developing sustainable recovery strategies, and capitalizing on current and upcoming growth drivers and industry trends. To help companies in the energy sector, Infiniti’s trends analysis experts identify and discuss three significant renewable energy trends for industry players to capitalize on in the coming months.
Wondering how the energy sector can keep up with changing times? Request more information, learn the most significant renewable energy trends, transform the industry, and how your organization can keep up with the market.
“There is scope for growth in the coming years due to significant renewable energy trends affecting the market currently, and the reduced availability of fossil fuels, changing trade policies regarding the O&G industry, and increasing petrol prices have led to piquing consumers’ interest in renewable energy,” says a trends analysis expert at Infiniti Research.
Infiniti’s trends analysis experts identified the following renewable energy trends and discussed their impact on the energy sector and power consumption worldwide:
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
Infiniti Research
Anirban Choudhury
Marketing Manager
US: +1 844 778 0600
UK: +44 203 893 3400
https://www.infinitiresearch.com/contact-us
PG&E to Customers: Have a Plan for Adverse Weather Headed our Way
SAN FRANCISCO--(BUSINESS WIRE)--With meteorologists forecasting stormy weather this weekend and into next week in Northern and Central California, Pacific Gas and Electric Company (PG&E) reminds its customers to take the necessary steps to be prepared and stay safe.
Today is expected to be relatively calm, but rain and gusty winds will start overnight Saturday along the north coast and continue through Sunday in parts of Northern and Central California. This event is expected to cause moderate rain in some areas, along with a dusting of mountain snow.
“This storm has the potential to cause power outages due to rain and gusty winds. We’re urging our customers to have a plan to keep themselves and their families safe. Our meteorology team is closely tracking the weather and working with our operations teams in the field to ensure we’re ready to restore outages safely and as quickly as possible,” said PG&E principal meteorologist Scott Strenfel.
PG&E’s meteorology team has developed a Storm Outage Prediction Model that incorporates real-time weather forecasts, historical data and system knowledge to accurately show where and when storm impacts will be most severe. This model enables the company to pre-stage crews and equipment as storms approach to enable rapid response to outages.
Storm Safety Tips
Other tips can be found at www.pge.com/beprepared.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation's cleanest energy to 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
LONDON--(BUSINESS WIRE)--#Compressor--Technavio estimates the global compressor oil market is expected to grow by USD 1.09 billion, progressing at a CAGR of about 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is driven by increasing investments in oil and gas E&P activities. However, the availability of oil-free compressors might challenge growth.
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Compressor Oil Market: End-user Landscape
Based on the end-user, the market witnessed maximum demand for compressor oil from the industrial machinery segment. This can be attributed to the extensive use of compressors for industrial machinery in industries such as construction, chemical, food and beverages (F&B), mining, metalworking, and pulp and paper. The market growth in the segment will be significant over the forecast period.
Compressor Oil Market: Geography Landscape
57% of the market’s growth originated from APAC in 2019. Factors such as rapid industrialization and significant production of automobiles and industrial machinery are fueling the growth of the compressor oil market in APAC.
China, India, and Japan are the key markets for compressor oil in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Major Three Compressor Oil Market Vendors:
BP Plc
BP Plc operates its business through segments such as Upstream, Downstream, and Rosneft. The company offers Energol GE-C 220 and Energol RC-R compressor oil.
Chevron Corp.
Chevron Corp. operates its business through segments such as Upstream and Downstream. The company offers Capella P, CETUS HIPERSYN, and Cetus PAO compressor oil.
China Petrochemical Corp.
China Petrochemical Corp. operates its business through segments such as Exploration and Production, Refining, Marketing and Distribution, and Chemicals. The company offers SINOPEC 4502 Synthetic Compressor Oil, SINOPEC 4511-1 Ethene Compressor Oil, SINOPEC 4513 Synthetic Compressor Oil, and SINOPEC 4513-1 Synthetic Compressor Oil.
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Related Reports on Energy Include:
Global Turbine Oil Market – Global turbine oil market is segmented by product (mineral oil-based lubricants and synthetic oil-based lubricants) and geography (APAC, Europe, North America, MEA, and South America). Get a Free Sample Report to know more
Global Bunker Oil Market – Global bunker oil market is segmented by product (residual fuel and distillate fuel) and geography (APAC, Europe, North America, MEA, and South America). Get a Free Sample Report to know more
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Innovative technology breaks down barriers to indoor, vertical and greenhouse farming by reducing power consumption, cutting costs and increasing crop yield
DENVER--(BUSINESS WIRE)--Advanced Energy (Nasdaq: AEIS) – a global leader in highly engineered, precision power conversion, measurement, and control solutions – today unveiled its newest lighting and power control system for indoor, vertical and greenhouse farming.
AE’s new lighting and power system transforms the use of LED technology in horticultural lighting systems, which plays a fundamental role in cutting-edge farming practices that can address production challenges in food, pharmaceutical ingredients, plants and flowers. Utilizing AE’s system, customers reduce their power conversion costs by as much as 50 percent, significantly lower installation and operating costs, and increase the quality of crop yield.
“Our groundbreaking lighting, power and control system delivers significant improvements over conventional lighting solutions and opens up new opportunities for the industry,” said Joe Voyles, vice president, industrial marketing, at Advanced Energy. “We are transforming our customers’ operations by both reducing the amount of needed equipment and improving the efficiency of the lighting systems, thereby reducing cost and energy spend. Not only do these innovative new products increase the efficiency and quality of fruit and vegetable production, but they also open the door to establishing indoor farming facilities in harsh environments anywhere in the world.”
The new system consists of the patented Artesyn iTS™ (intelligent Transfer Switch) and iHPS™ configurable power supply. Alongside Artesyn’s compact new 12 kW 300 VDC module, AE delivers a cost-effective platform for the most advanced indoor farming applications. The system is estimated to produce a 38 percent savings to lighting power and control installation cost, while eliminating substantial amounts of wasted energy.
The new iHPS is a “short” version of AE’s market-leading iHP power supply. The shorter design allows for more space within the lighting and power cabinet for other crucial components, reduces the weight and cost, and increases the life of the system. The new iTS provides the industry’s first solution for switching or sharing a single power source between two different rooms. This reduces installation costs by cutting the number of iHP power supplies needed in half and it substantially reduces ongoing utility costs.
For detailed product information and technical specifications, visit the iHP product web page and the iTS product web page.
To learn more about the advantages of Advanced Energy’s Lighting Power and Control System for indoor , download the white paper.
About Advanced Energy
Advanced Energy (Nasdaq: AEIS) is a global leader in the design and manufacturing of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. AE’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial, manufacturing, telecommunications, data center computing and healthcare. With engineering know-how and responsive service and support around the globe, the company builds collaborative partnerships to meet technology advances, propel growth for its customers and innovate the future of power. Advanced Energy has devoted more than three decades to perfecting power for its global customers and is headquartered in Denver, Colorado, USA. For more information, visit www.advancedenergy.com.
Advanced Energy | Precision. Power. Performance.
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