PASADENA, Calif.--(BUSINESS WIRE)--#BillGross--Heliogen, Inc. (“Heliogen”), a leading provider of AI-enabled concentrated solar power, today announced that management will present and meet with investors at the following conferences:

• Barclays CEO Energy-Power Conference, September 10, 2021
• Sanford Bernstein Reimagining the Future of ESG: Beyond Ratings and Scores Conference, September 15, 2021

Heliogen’s most recent presentation will be available on the Investors section of its website, at https://heliogen.com/investor-center/.

About Heliogen

Heliogen is a renewable energy technology company focused on empowering a sustainable future by eliminating the need for fossil fuels for all of heavy industry. The company’s Sunlight Refinery™ aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, and green hydrogen fuel at scale for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996.

As previously announced, Heliogen has entered into definitive agreement for a business combination with Athena Technology Acquisition Corp. (NYSE: ATHN), a publicly-traded special purpose acquisition company (SPAC), that would result in Heliogen becoming a publicly-listed company. Completion of the proposed transaction is subject to customary closing conditions, and is expected to occur in the fourth quarter of 2021.

For more information about Heliogen, please visit Heliogen.com or @heliogeninc.

“Heliogen’s HelioHeat™ Named to TIME’s Best Inventions List for 2020”

Additional Information and Where to Find It

In connection with the proposed business combination, Athena Technology Acquisition Corp. (“Athena”) has filed with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 containing a preliminary proxy statement and a preliminary prospectus, which has not yet become effective. After the registration statement is declared effective, Athena will mail a definitive proxy statement/prospectus relating to the proposed business combination to its stockholders. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. Additional information about the proposed business combination and related transactions is described in Athena’s combined proxy statement/prospectus relating to the proposed business combination and the businesses of Athena and Heliogen, Inc. (“Heliogen”), which Athena has filed with the SEC. The proposed business combination and related transactions will be submitted to stockholders of Athena for their consideration. Athena’s stockholders and other interested persons are advised to read the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus, when available, and other documents filed in connection with Athena’s solicitation of proxies for its special meeting of stockholders to be held to approve, among other things, the proposed business combination and related transactions, because these materials will contain important information about Heliogen, Athena and the proposed business combination and related transactions. When available, the definitive proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to stockholders of Athena as of a record date to be established for voting on the proposed business combination and related transactions. Stockholders may also obtain a copy of the preliminary or definitive proxy statement/prospectus, once available, as well as other documents filed with the SEC by Athena, without charge, at the SEC’s website located at www.sec.gov or by directing a request to Phyllis Newhouse, President and Chief Executive Officer, Athena Technology Acquisition Corp., 125 Townpark Drive, Suite 300, Kennesaw, GA 30144, or by telephone at (970) 924-0446.

Participants in the Solicitation

Athena, Heliogen and their respective directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from Athena’s stockholders in respect of the proposed business combination and related transactions. Information regarding Athena’s directors and executive officers is available in its Registration Statement on Form S-1 and the prospectus included therein filed with the SEC on March 3, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests is contained in the preliminary and, when available, will be contained in the definitive proxy statements/prospectus related to the proposed business combination and related transactions, and which can be obtained free of charge from the sources indicated above.

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Heliogen Contacts

For Investors:
Caldwell Bailey
ICR, Inc.
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For Media:
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Energy Transfer’s Second Renewable Energy Power Purchase Agreement

DALLAS--(BUSINESS WIRE)--Energy Transfer (NYSE: ET) announced today it signed a 15-year Power Purchase Agreement (PPA) with San Francisco-based SB Energy for 120 megawatts of electricity from its Eiffel Solar project in northeast Texas. Energy Transfer is a Fortune 100 midstream energy company based in Dallas.

“We are pleased to announce this PPA with SB Energy,” said Tom Mason, head of Energy Transfer’s Alternative Energy Group. “It is our second significant agreement to purchase low-cost solar power to help us meet our ERCOT load requirements for our operations throughout Texas. The first was the Maplewood 2 solar farm in the Permian Basin that came online earlier this year.”

“SB Energy is focused on accelerating the global energy transition with the real work starting on the ground with innovative projects like Eiffel Solar and exceptional partners like Energy Transfer. The Eiffel resource is a key project to serving rapidly increasing demand for reliable, clean energy,” said Rich Hossfeld, co-CEO of SB Energy.

SB Energy, a wholly owned subsidiary of SoftBank Group Corp., is scheduled to begin construction of the 200-megawatt Eiffel Solar project located in Lamar County the first half of 2022. The project will start to deliver energy to Energy Transfer in January of 2024.

Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with a strategic footprint in all of the major domestic production basins. ET is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. ET also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer website at energytransfer.com.

SB Energy, a wholly owned subsidiary of SoftBank Group Corp., is a leading utility-scale solar, energy storage, and technology platform. We develop, construct, and own and operate some of the largest and most technically advanced renewable projects across the United States. SB Energy’s mission is to provide flexible renewable energy at scale, accelerating the global energy transition, and benefiting our planet, customers, communities, and people. For more information, visit SBEnergy.com.

Forward Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

Energy Transfer Media Relations
214.840.5820
Vicki Granado, Alexis Daniel
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Energy Transfer Investor Relations
214.981.0795
Bill Baerg, Brent Ratliff, Lyndsay Hannah
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SB Energy Media Relations
626.607.1220
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BELMONT, N.C.--(BUSINESS WIRE)--Piedmont Lithium Inc., (“Piedmont” or the “Company”) (Nasdaq: PLL, ASX: PLL), a multi-asset company focused on the integrated production of lithium hydroxide to support the North American electric vehicle supply chain, today announced it has submitted two applications related to the Company’s Carolina Lithium Project.

On August 30, 2021, the Company filed its application for a North Carolina State Mining Permit with the N.C. Department of Environmental Quality’s Division of Energy, Mineral and Land Resources.

Additionally, on August 31, 2021, the Company submitted a draft loan application to the U.S. Department of Energy’s Loans Program Office for loan funding via the Advanced Technologies Vehicle Manufacturing (“ATVM”) Loan Program. The ATVM has $17.7 billion in direct loan authority to provide funding to U.S. companies engaged in the manufacturing of fuel efficient, advanced technology vehicles and qualifying components supporting the automotive supply chain.

The timeline for the review and response with respect to each application is subject to the established processes and procedures of the respective responsible agency.

“Submitting our mine permit application with the State of North Carolina is an important and necessary step in advancing our Carolina Lithium Project in Gaston County, North Carolina,” said President and CEO of Piedmont Lithium, Keith Phillips. “We have been extremely rigorous in planning our operations, with an intense focus on safety, sustainability, and environmental protections within the communities where we plan to operate. We welcome the review by the State and look forward to their response. And as we consider a variety of funding sources for our Carolina Lithium Project, we’re excited about the possibility of participating in the ATVM Loan Program. This program was specifically designed to assist companies like ours that are working to help build a domestic source of components and materials to support the electric vehicle supply chain in the U.S.,” added Phillips.

To learn more about mining permits in North Carolina, visit: NC DEQ: Mining Program. To learn more about the ATVM Loan Program, visit: Advanced Technology Vehicles Manufacturing Loan Program | U.S. Department of Energy.

Click here to view the full release.

Keith Phillips
President & CEO
T: +1 973 809 0505
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Brian Risinger
VP - Investor Relations and Corporate Communications
T: +1 704 910 9688
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SPRING, Texas--(BUSINESS WIRE)--Southwestern Energy Company (NYSE: SWN) today announced that it has closed the acquisition of Indigo Natural Resources.

“We are excited to incorporate Indigo’s assets into SWN’s premier US natural gas portfolio. More importantly, we want to welcome many of its talented people to Southwestern. They complement our high performance culture and share our collective passion to stretch the limits of what is possible,” said Bill Way, Southwestern Energy President and Chief Executive Officer.

“With these assets and newly expanded team, we are well positioned to take the Company to the next level. This acquisition materially expands our opportunity set, adding high-margin Haynesville production and substantial core drilling inventory while providing additional global market access through the LNG corridor. It also further de-risks our enterprise, increases free cash flow, extends our maturity profile and accelerates our deleveraging goals. Looking ahead, we will continue to pursue opportunities to further increase our scale and enhance our ability to responsibly and sustainably drive additional value for our shareholders.”

Southwestern Energy is providing updated 2021 guidance, which incorporates the acquired Haynesville assets starting on September 1, 2021. Free cash flow generation for 2021 is expected to increase to a range of $425 to $475 million. The Company plans to use this increased cash flow for debt reduction, which is expected to drive its leverage below its 2 times net debt to EBITDA target by the end of 2021.

In Haynesville, the Company expects to complete the 2021 capital investment program currently in progress, and will average 6 rigs and approximately 2 completion crews, placing 15 to 20 gross wells to sales. To incorporate the investment in Haynesville, the Company’s expected 2021 capital investment range has increased to $1,085 to $1,145 million, which also includes the associated increase in capitalization of interest and expense.

Guidance Update

About Southwestern Energy

Southwestern Energy Company (NYSE: SWN) is a leading U.S. producer of natural gas and natural gas liquids focused on responsibly developing large-scale energy assets in the nation’s most prolific shale gas basins. SWN’s returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength and operational execution. For additional information, please visit www.swn.com and www.swn.com/responsibility.

Forward Looking Statement

Certain statements and information in this news release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended. The words “believe,” “expect,” “anticipate,” “plan,” "predict," “intend,” "seek," “foresee,” “should,” “would,” “could,” “attempt,” “appears,” “forecast,” “outlook,” “estimate,” “project,” “potential,” “may,” “will,” “likely,” “guidance,” “goal,” “model,” “target,” “budget” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Statements may be forward looking even in the absence of these particular words. Examples of forward-looking statements include, but are not limited to, statements regarding our financial position, business strategy, production, reserve growth and other plans and objectives for our future operations, and generation of free cash flow. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. The forward-looking statements contained in this document are largely based on our expectations for the future, which reflect certain estimates and assumptions made by our management. These estimates and assumptions reflect our best judgment based on currently known market conditions, operating trends, and other factors. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control. As such, management’s assumptions about future events may prove to be inaccurate. For a more detailed description of the risks and uncertainties involved, see “Risk Factors” in our most recently filed Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other SEC filings. We do not intend to publicly update or revise any forward-looking statements as a result of new information, future events, changes in circumstances, or otherwise. These cautionary statements qualify all forward-looking statements attributable to us, or persons acting on our behalf. Management cautions you that the forward-looking statements contained herein are not guarantees of future performance, and we cannot assure you that such statements will be realized or that the events and circumstances they describe will occur. Factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements herein include, but are not limited to: the timing and extent of changes in market conditions and prices for natural gas, oil and natural gas liquids (“NGLs”), including regional basis differentials and the impact of reduced demand for our production and products in which our production is a component due to governmental and societal actions taken in response to COVID-19 or other public health crises and any related company or governmental policies and actions to protect the health and safety of individuals or governmental policies or actions to maintain the functioning of national or global economies and markets; our ability to fund our planned capital investments; a change in our credit rating, an increase in interest rates and any adverse impacts from the discontinuation of the London Interbank Offered Rate; the extent to which lower commodity prices impact our ability to service or refinance our existing debt; the impact of volatility in the financial markets or other global economic factors; difficulties in appropriately allocating capital and resources among our strategic opportunities; the timing and extent of our success in discovering, developing, producing and estimating reserves; our ability to maintain leases that may expire if production is not established or profitably maintained; our ability to realize the expected benefits from recent acquisitions or the acquisition of Indigo Natural Resources, LLC (the “Indigo Transaction”); costs in connection with the Indigo Transaction; integration of operations and results subsequent to the Indigo Transaction; our ability to transport our production to the most favorable markets or at all; the impact of government regulation, including changes in law, the ability to obtain and maintain permits, any increase in severance or similar taxes, and legislation or regulation relating to hydraulic fracturing, climate and over-the-counter derivatives; the impact of the adverse outcome of any material litigation against us or judicial decisions that affect us or our industry generally; the effects of weather; increased competition; the financial impact of accounting regulations and critical accounting policies; the comparative cost of alternative fuels; credit risk relating to the risk of loss as a result of non-performance by our counterparties; and any other factors listed in the reports we have filed and may file with the SEC that are incorporated by reference herein. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

Investor Contact
Brittany Raiford
Director, Investor Relations
(832) 796-7906
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Bernadette Butler
Investor Relations Advisor
(832) 796-6079
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Board of Directors Authorizes Repurchase of Additional 500,000 Shares Following Recent Completion of Previously Authorized Repurchase of 500,000 Common Shares

DAYTON, Ohio--(BUSINESS WIRE)--REX American Resources Corporation (NYSE: REX) (“REX” or “the Company”) today reported financial results for its fiscal 2021 second quarter (“Q2 ‘21”) ended July 31, 2021. REX management will host a conference call and webcast today at 11:00 a.m. ET.

REX American Resources’ Q2 ‘21 results principally reflect its interests in six ethanol production facilities and its refined coal operation. The One Earth Energy, LLC (“One Earth”) and NuGen Energy, LLC (“NuGen”) ethanol production facilities are consolidated, as is the refined coal entity, while the four other ethanol plants are reported as equity in income of unconsolidated ethanol affiliates. The Company reports results for its two business segments as ethanol and by-products, and refined coal.

REX’s Q2 ‘21 net sales and revenue were $195.8 million, compared with $39.3 million in Q2 ‘20. The year-over-year net sales and revenue increase was primarily due to higher ethanol production levels as compared to the prior year levels, which were significantly impacted by the Covid-19 pandemic, as well as higher ethanol, distillers grains, and corn oil pricing. Primarily reflecting the revenue growth, offset in part by increased input corn pricing, Q2 ‘21 gross profit for the Company’s ethanol and by-products segment increased to $14.2 million, compared with $0.6 million in Q2 ‘20. As a result, the ethanol and by-products segment had income before income taxes of $10.7 million in Q2 ‘21, compared to a loss of $3.3 million in Q2 ‘20. The Company’s refined coal operation incurred a $3.1 million gross loss and a $3.5 million loss before income taxes in Q2 ‘21, compared to a $1.9 million gross loss and a loss before income taxes of $2.1 million in Q2 ‘20. REX reported Q2 ‘21 income before income taxes and non-controlling interests of $6.4 million, compared with a loss before income taxes and non-controlling interests of $6.1 million in the comparable year ago period. While the refined coal operation negatively impacted gross profit and income before income taxes, it contributed a tax benefit of $5.4 million and $2.9 million in Q2 ‘21 and Q2 ’20, respectively.

Net income attributable to REX shareholders in Q2 ‘21 was $7.9 million, compared to a net loss of $1.7 million in Q2 ‘20. Q2 ‘21 basic and diluted net income per share attributable to REX common shareholders was $1.31, compared to a net loss per share of $0.28 in Q2 ‘20. Per share results in Q2 ‘21 and Q2 ‘20 are based on 6,011,000 and 6,216,000 diluted weighted average shares outstanding, respectively.

Segment Income Statement Data:

REX American Resources’ Chief Executive Officer, Zafar Rizvi, commented, “The resiliency of our business and effectiveness of our operations is evident in our second quarter operating results. With the return to more normalized demand compared to the prior year during the fiscal 2021 second quarter, and improved pricing, we continued to leverage our strategic locations across the corn belt and healthy liquidity position to generate second quarter net income of $7.9 million and earnings per share of $1.31.

“Subsequent to the end of the fiscal second quarter, we repurchased the remaining shares under our most recent repurchase authorization and our Board of Directors has authorized the repurchase of up to an additional 500,000 shares of our common stock. We remain focused on enhancing shareholder value through our disciplined operating approach and strategic use of our strong balance sheet and liquidity position.”

Balance Sheet

At July 31, 2021, REX had cash and cash equivalents and short-term investments of $187.6 million, $42.1 million of which was at the parent company, and $145.5 million of which was at its consolidated production facilities. This compares with cash, cash equivalents and short-term investments at January 31, 2021, of $180.7 million, $48.2 million of which was at the parent company, and $132.5 million of which was at its consolidated ethanol production facilities.

During the fiscal second quarter ended July 31, 2021 the Company repurchased 17,307 shares of its common stock at a cost of $1.4 million, and subsequent to the end of the second quarter the Company purchased an additional 16,205 shares, thus completing its previously authorized stock repurchase of 500,000 shares for $32,857,393. The Company’s Board of Directors has authorized the repurchase of up to an additional 500,000 shares of its common stock. Share repurchases will be made from time to time in open market or private transactions at prevailing market prices, and all shares purchased will be held in the Company’s treasury for possible future use. Reflecting all purchases to date, REX presently has approximately 5,970,938 shares of common stock outstanding.

The following table summarizes select data related to REX’s
consolidated alternative energy interests:

Supplemental data related to REX’s ethanol interests:

Second Quarter Conference Call

REX will host a conference call at 11:00 a.m. ET today. Senior management will discuss the quarterly financial results and host a question and answer session. The dial in number for the audio conference call is 212/231-2902 (domestic and international callers).

Participants can also listen to a live webcast of the call on the Company’s website, www.rexamerican.com. A webcast replay will be available for 30 days following the live event at www.rexamerican.com.

About REX American Resources Corporation

REX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 698 million gallons of ethanol over the twelve-month period ended July 31, 2021. REX’s effective ownership of the trailing twelve-month gallons shipped (for the twelve months ended July 31, 2021) by the ethanol production facilities in which it has ownership interests was approximately 283 million gallons. In addition, the Company acquired a refined coal operation in August 2017. Further information about REX is available at www.rexamerican.com.

This news announcement contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by use of forward-looking terminology such as “may,” “expect,” “believe,” “estimate,” “anticipate” or “continue” or the negative thereof or other variations thereon or comparable terminology. Readers are cautioned that there are risks and uncertainties that could cause actual events or results to differ materially from those referred to in such forward-looking statements. These risks and uncertainties include the risk factors set forth from time to time in the Company’s filings with the Securities and Exchange Commission and include among other things: the effect of pandemics such as COVID-19 on the Company’s business operations, including impacts on supplies, demand, personnel and other factors, the impact of legislative and regulatory changes, the price volatility and availability of corn, distillers grains, ethanol, non-food grade corn oil, gasoline and natural gas, ethanol and refined coal plants operating efficiently and according to forecasts and projections, changes in the international, national or regional economies, weather, results of income tax audits, changes in income tax laws or regulations, the impact of U.S. foreign trade policy, changes in foreign currency exchange rates and the effects of terrorism or acts of war. The Company does not intend to update publicly any forward-looking statements except as required by law.

- statements of operations follow -

- balance sheets follow -

- statements of cash flows follow -

Douglas Bruggeman
Chief Financial Officer
(937) 276‑3931

Joseph Jaffoni, Norberto Aja
JCIR
(212) 835-8500
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The Company plans mass production of cost effective, safer and high energy density lithium-ion cells

CHENNAI, India--(BUSINESS WIRE)--#EVs--Leading automotive electrical components manufacturer Lucas TVS Ltd. and 24M Technologies, Inc., developer of next generation lithium-ion battery technologies, announced the signing of a license and services agreement to construct one of the first Giga factories in India using 24M’s innovative and disruptive SemiSolid^TM platform technology.

The first plant with world class safety standards will be set up in Thervoy Kandigai, Gummudipundi near Chennai and Lucas TVS expects to build other plants throughout India to support the growing energy storage, electric mobility and lead acid battery replacement markets. The Chennai Plant is expected to begin commercial production in second half of 2023. Based on the aggressive targets set by Govt in the Renewable energy and Electric Mobility space, Lucas TVS plans to grow the capacity of the plant to a globally competitive scale of 10 GWh in two stages.

24M’s SemiSolid^TM platform has significant benefits as compared to conventional manufacturing processes. The process, protected by more than 80 issued and 100 pending patents, offers a significantly simpler process flow reducing capital costs substantially. The SemiSolid^TM technology enables the production of a thicker electrode, increasing energy density and reducing materials costs. Beyond its cost advantages, 24M’s patented cell design enhances safety, reliability, and traceability, by virtually eliminating potential metal contamination, the most common cause of shorts in conventional lithium-ion cells. In addition to these benefits, the SemiSolid^TM electrode eliminates the use of binders and thereby enables the simplest and most efficient recycling of rejected or end of life cells. These advantages make it a preferred choice for demanding customers in critical areas such as energy storage and electric mobility.

The unique SemiSolid^TM platform offers innovative solutions to the fast-growing storage and electric mobility markets and the emerging lead acid battery replacement markets and is already seeing large capacities being planned globally in Japan, ASEAN, Europe, East Asia and the US. Lucas TVS will be the first to introduce SemiSolid^TM lithium-ion batteries produced in India and specifically designed for the Indian market.

Lucas TVS plans to build products using different chemistries, in Pouch and Prismatic cell formats, with high energy density. The products will meet customer needs in e-mobility, stationary energy storage, including grid-scale markets, and lead acid battery replacement. Lucas TVS will also be offering complete battery solutions to those customers who need them.

“Lucas TVS believes in investing in the next-generation technologies, which is why we chose to partner with 24M,” stated Mr. T.K. Balaji, Chairman and Managing Director, Lucas TVS. “We are confident that their innovative SemiSolid^TM platform technology will enable us to provide our customers affordable e-mobility, lead acid battery replacement and storage solutions with improved quality and best-in-class safety.”

“We are delighted to partner with a market leader like Lucas TVS with a 60+ year track record of performance as a leading provider of electromagnetic solutions to the mobility market,” commented Naoki Ota, Chief Executive Officer of 24M. “Our innovative SemiSolid^TM technology and ongoing R&D investments will support Lucas TVS’s ambition to become a leader in the energy storage space for mobility, lead acid battery replacement, storage and grid scale markets in India.”

About Lucas TVS Ltd.

Lucas TVS Ltd., is an Indian manufacturing leader in mechatronic components for automotive, EV, industrial and consumer industries. Lucas-TVS Group with a turnover of over Rs. 3,500 crore is the market leader in this field for over 6 decades supplying its products to all segments of auto industry. Its products include starter motors, alternators, automotive motors, EV traction motors, BLDC motors for consumer and industrial applications as well as various controllers and sensors. Lucas-TVS has been in the forefront of introduction of high technology products to meet the demanding needs of the fast-growing auto industry in India. The group has already forayed into manufacture of several components of the fast-emerging electric mobility industry. For more information, please visit www.lucas-tvs.com.

About 24M Technologies Inc.

24M answers the world’s need for affordable energy storage by enabling a new, more cost-effective solution — SemiSolid™ lithium-ion technology. By re-inventing the design of the battery cell as well as the manufacturing method, 24M solves the critical, decades-old challenge associated with the world’s preferred energy storage chemistry: reducing its high cost while improving its safety, reliability and performance. Founded and led by some of the battery industry’s foremost inventors, scientists and entrepreneurs, 24M is headquartered in Cambridge, Mass. For more information, please visit www.24-m.com.

24M
Pang Tan, VP of Business Development
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Acquisition of Serenergy A/S and fischer eco solutions GmbH closes in accordance with share purchase agreement entered into on June 25, 2021

BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”) today announced that it had successfully closed its acquisition of Serenergy A/S (“SerEnergy”) and fischer eco solutions GmbH (“FES”), the fuel cell business of the fischer Group.

SerEnergy, which operates facilities in Aalborg, Denmark, and in Metro Manila, Philippines, is a leading manufacturer of high-temperature polymer electrolyte membrane (“HT-PEM”) fuel cells globally, with thousands of systems shipped around the globe during its 15 years of operation. The company employs approximately 75 people across its two locations in research and development (“R&D”), production, sales and service, all with expertise in the area of HT-PEM fuel cell systems. SerEnergy manufactures remote, off-grid power fuel cell systems that are a natural fit for Advent’s “Any Fuel. Anywhere.” strategy and portfolio.

FES, which operates out of a facility on fischer Group's campus in Achern, Germany, provides fuel-cell stack assembly and testing as well as the production of critical fuel cell components, including membrane electrode assemblies ("MEAs"), bipolar plates, and reformers. Effective as of the closing of the transaction, Advent entered into a lease for the portion of the fischer Group’s campus used by FES. Its 17 employees, along with all of SerEnergy’s employees, are expected to remain with Advent.

Dr. Vasilis Gregoriou, Chairman and CEO of Advent, remarked, “We are excited to welcome the highly skilled and innovative team of SerEnergy and fischer eco solutions to the Advent family. The technical expertise and manufacturing capabilities of our new colleagues in Denmark and Germany are an excellent match for our strategic growth plan. We expect the SerEnergy off-grid and telecom-tower products to benefit significantly from Advent’s product development advances in new materials. In return, we expect that the manufacturing experience they bring will further accelerate our go-to-market plan. This acquisition is expected to position Advent as a fuel cell leader with the ability to deliver thousands of systems per year in the off-grid, portable, and other power-generation markets, with capacity in place.”

Hans-Peter Fischer, General Manager of the fischer Group, stated, “The Fischer family is pleased with the merger and the cooperation with Advent. From the start we were aware of Advent’s strong technology, and during the past months we have gotten to know the people who drive the company. They are uniquely qualified to take the fuel cell business to the next level. Advent is already a key player in the decarbonization of energy and now, with this merger, the company is ready to move forward fast. As a major shareholder, the Fischer family is excited to share in that growth potential.”

Gleiss Lutz Hootz Hirsch PartmbB, Kromann Reumert, and Ropes and Gray acted as legal counsel to Advent and Grant Thornton served as its financial advisor. Ernst & Young, Duane Morris LLP, and Tecnafin GmbH acted as counsel to the fischer Group.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles critical components for fuel cells and advanced energy systems in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in the San Francisco Bay Area and Europe. With 120-plus patents issued (or pending) for its fuel cell technology, Advent holds the IP for next-generation high-temperature proton exchange membranes (“HT-PEM”) that enable various fuels to function at high temperatures under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, maritime, aviation and power generation sectors. For more information, please visit www.advent.energy.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Advent Technologies Holdings, Inc.
Elisabeth Maragoula
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Sloane & Company
James Goldfarb / Emily Mohr
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Provides new assessments for Renewable Energy Certificates (REC) under U.S. East Coast Renewable Portfolio Standards (RPS) programs and comprehensive intelligence for compliance carbon markets featuring price transparency for 16 environmental programs in a single report

ROCKVILLE, Md.--(BUSINESS WIRE)--OPIS, an IHS Markit (NYSE: INFO) company, the leading benchmark provider for emissions and carbon markets data, launches today an expansion to its extensive daily compliance carbon pricing services, providing the most transparency for the largest emissions programs in the world. The expansion of the OPIS Carbon Market Report extends the OPIS compliance carbon pricing suite to over 100 indices and provides solutions to stakeholders compliant with jurisdictional programs.

New price assessments include Renewable Energy Certificates in New Jersey, Pennsylvania, Maryland, Massachusetts and Connecticut, the New England Power Pool General Information System and PJM Environmental Information Services, as well as additional assessments for California’s Cap-and-Trade Program.

With rising awareness for the global climate challenge and in anticipation of the UN Climate Change Conference of the Parties (COP 26) in November, governments are deploying and strengthening environmental programs that put a price on carbon as a strategy to reduce emissions.

In the United States, 17 state and local governments have increased clean energy targets in their Renewable Portfolio Standards over the past three years. Meanwhile in 2021, California enforced new cap-and-trade regulations for carbon offsets, creating a separate market for credits that are issued to projects with a direct environmental benefit in the state. On the East Coast, the multi-state Regional Greenhouse Gas Initiative (RGGI) is drawing more participation, with Virginia becoming the 11th state in the cap-and-trade cooperative for power emissions this year. Pennsylvania is on deck to join RGGI in 2022.

“The call to action for global climate mitigation brought forth in the Paris Agreement sets the stage for all governments to adopt carbon policies that leverage market-based mechanisms,” said Fred Rozell, president, OPIS by IHS Markit. “Initiatives that put a price on carbon effectively reduce greenhouse gas emissions and create revenue for clean energy and environmental programs. The comprehensive OPIS suite of carbon assessments provides transparency for all sectors covered by regulatory programs and corporations engaged in voluntarily offsetting their carbon footprint through carbon credits.”

The OPIS Carbon Market Report includes daily price assessments and analysis for California Carbon Allowances, California Carbon Offsets, Regional Greenhouse Gas Initiative Allowances, U.S. Renewable Energy Certificates, California’s Low Carbon Fuel Standard, Oregon’s Clean Fuels Program, Quebec’s Cap-and-Trade System and the U.S. Renewable Fuel Standard. The report also provides carbon market pricing, insight and analysis for European Union Allowances, United Kingdom Allowances and China Carbon Emission Allowances.

OPIS launched daily price transparency for compliance carbon markets in 2014. It remains the price reporting agency benchmarked by the California transportation fuels industry for accurate cap-and-trade and Low Carbon Fuel Standard (LCFS) assessments.

The OPIS California Carbon Allowances (OPIS CCA) and Regional Greenhouse Gas Initiative Allowances (OPIS RGGI) assessments underly the IHS Markit Global Carbon Index (GLCARB), which serves as a benchmark to the KFA Global Carbon ETF (KRBN), launched in 2020. The green investment fund currently manages over $500 million in assets.

The OPIS Carbon Market Report publishes daily to meet the demand for benchmark pricing for carbon and emissions programs. The OPIS Carbon Market Report and the daily OPIS Global Carbon Offsets Report, which launched in December 2020, together provide the largest compliance and voluntary carbon market price suite by any price reporting agency in the world. The robust and comprehensive OPIS coverage of the carbon markets enables global project developers, traders, marketers and investors to accurately identify a fair value for their assets and understand compliance costs associated with carbon and emissions programs.

OPIS carbon assessments reflect confirmed bids, offers and trades reported by approved traders, brokers and electronic platforms. Full details about the OPIS voluntary and compliance carbon methodologies can be found in OPIS Carbon Market Pricing.

For further information about the OPIS Carbon Market Report, contact Lisa Street, director, global carbon pricing, OPIS by IHS Markit at This email address is being protected from spambots. You need JavaScript enabled to view it..

About OPIS (www.opisnet.com)

Oil Price Information Service (OPIS) by IHS Markit (NYSE: INFO) provides accurate pricing, real-time news and expert analysis across the global fuel supply chain. Leveraging data from its spot, rack and retail market sources, OPIS enables its customers to buy and sell oil, gas and petrochemical products with confidence across the globe.

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 © 2021 IHS Markit Ltd. All rights reserved.

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DUBLIN--(BUSINESS WIRE)--The "UAE Diesel Genset Market (2021-2027): Market Forecast by KVA Rating, by Verticals, Industrial, by Regions and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

UAE Diesel Genset Market is projected to grow at a CAGR of 3.3% during 2021-2027.

The UAE diesel genset market is anticipated to witness modest growth during the forecast period. Diesel gensets in UAE are heavily deployed across various applications such as industrial, commercial, and transportation, among others, to provide a reliable and uninterrupted power supply.

The growing electricity demand supported by the country's economic diversification plans such as UAE Vision 2021, Abu Dhabi Economic Vision 2030, along with the rising number of ongoing industrial projects such as the Hail and Ghasha Sour Gas Development, Sharjah Liquefied Natural Gas Import Terminal, Vision Hydra Executive, Rosewood Dubai, Taweelah Desalination Plant are the key factors, which would drive the market for diesel gensets in UAE in the coming years.

The outburst of coronavirus has adversely impacted the country's diesel genset market in 2020 as the government imposed a nation-wide lockdown which has led to the closure of all construction operations and disrupted the demand and supply of diesel genset systems. However, recovery is expected in market revenues from the year 2021. A gradual opening of economic activities and supply chain returning to normalcy would positively influence the diesel genset market of UAE in the coming years.

Rapid industrialization has resulted in the increasing demand for a continuous and reliable source of electricity, which is expected to drive the diesel genset market in the coming years. Further, Dubai's Industrial Strategy 2030, Plan Abu Dhabi 2030, Fujairah Plan 2040, UAE Water Security Strategy 2036 are a few of the government initiatives which aims at developing and strengthening public sectors such as water supply, housing, transportation, infrastructure, and tourism, creating a huge demand for power backup equipment for the developmental activities, leading to a surge in demand for diesel gensets in the UAE.

Diesel gensets with a rating 75.1kVA - 375kVA, which are majorly deployed as power backup systems in the hospitality, tourism, entertainment, and commercial sectors, account for the major market revenue share and are expected to retain their dominance over the forthcoming years.

Moreover, the UAE government's initiatives, such as UAE Energy Strategy 2050 and Dubai Smart City Project, are expected to attract a considerable amount of investment of around $500 billion by 2030 in the manufacturing, logistics, and industrial sectors, thereby driving the demand for diesel genset market in the coming years.

UAE diesel genset market report comprehensively covers the diesel genset market by kVA ratings, applications and regions. The report provides an unbiased and detailed analysis of the diesel genset market on-going trends, opportunities, high growth areas, market drivers, and market share by companies which would help the stakeholders to device and align their market strategies to the current and future market dynamics.

Key Highlights of the Report:

• UAE Diesel Genset Market Overview.
• UAE Diesel Genset Market Outlook.
• UAE Diesel Genset Market Forecast.
• Historical data and forecast of UAE Diesel Genset Market Revenues and Volume, for the Period, 2017-2027F.
• Historical data and Forecast of Revenues and Volume, By kVA Ratings, for the Period, 2017-2027F.
• Historical data and Forecast of Revenues and Volume, By Applications, for the Period, 2017-2027F.
• Historical data and Forecast of Revenues and Volume, By Regions, for the Period, 2017-2027F.
• Market Drivers and Restraints
• UAE Diesel Genset Market Trends
• Industry Life Cycle
• Porter's Five Forces Analysis
• Market Opportunity Assessment
• UAE Diesel Genset Market Share, By Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

By kVA Ratings

• Up to 75 kVA
• 1 - 375 kVA
• 1 - 750 kVA
• 1 - 1000 kVA
• Above 1000 kVA

By Applications

• Commercial (Hospitality, BFSI, IT & ITES, Construction, Offices)
• Industrial
• Residential
• Transportation & Infrastructure

By Regions

• Abu Dhabi
• Dubai
• Rest of Emirates

Company Profiles

• Aggreko PLC.
• Aksa Power Generation
• Atlas Copco Industrial Equipment Co.
• Caterpillar Inc.
• Cummins Middle East FZE.
• Himoinsa Middle East, FZE
• Kirloskar Oil Engines Limited
• Kohler Co.
• MTU Onsite Energy Corporation
• Yanmar Holdings Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/wtg2zk

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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RALEIGH, N.C.--(BUSINESS WIRE)--TopQuadrant™, a provider of data governance solutions using knowledge graph technologies, was named in 2021 Gartner Market Guide for Active Metadata Management.¹ According to Gartner, “active metadata management is an emerging set of capabilities across multiple data management markets resulting from continuous metadata management innovation.”

Gartner recommends that “data and analytics leaders investing in data management solutions must begin replacing or augmenting systems that share only their design-based metadata with those demonstrating active metadata capabilities. Identify tools and platforms that can export their own metadata and import `foreign' metadata relative to existing metadata, processing instructions and optimization strategies.”

“We are thrilled to be acknowledged as a representative vendor in the 2021 Market Guide for Active Metadata Management by Gartner,” said Irene Polikoff, CEO and co-founder of TopQuadrant. “In our opinion, the report reflects several market drivers that play to TopQuadrant’s unique strengths including the need for semantic formalism, taxonomic resolution, openness, broad comprehension of data management for less technical leaders and the ability to accommodate the ever-increasing types of data assets and metadata. This further validates that TopQuadrant is a leader in the expanding metadata management software market which Gartner states grew at a rate of 22.1%, reaching $1.26 billion.”

As a metadata management solution, TopQuadrant’s TopBraid Enterprise Data Governance (TopBraid EDG) collects metadata from all data integration environments, creating a Knowledge Graph that provides the visibility, control and intelligence needed to manage change, build connections across metadata silos, reduce errors and ensure data consistency.

According to Gartner’s recent report², active metadata discovery and semantics inference are key new aspects of a data fabric architecture as compared to traditional approaches. The report further states that “connected data enables dynamic experiences from existing and newly available data points leading to timely insights and decisions.”

“In our opinion, the evolution of metadata management described by Gartner is well aligned with TopQuadrant’s vision of the complete enterprise data governance solution,” added Irene Polikoff. “TopBraid EDG offers a comprehensive, open and semantically rich solution for a growing number of enterprise customers with a wide range of heterogeneous data sources and processing needs.”

¹ Gartner, “Market Guide for Active Metadata Management,” Guide De Simoni, Alan Dayley, Mark Beyer, 27 July 2021

² Gartner, “What is Data Fabric?”, Robert Thanaraj, Mark Beyer, Ehtisham Zaidi, 14, April 2021

Gartner Disclaimer

GARTNER is registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About TopQuadrant

TopQuadrant helps organizations succeed in data governance with TopBraid Enterprise Data Governance (TopBraid EDG). EDG is built on standards-based knowledge graph technology to seamlessly bring together enterprise information silos, connect enterprise metadata, ensure its quality and deliver easy and meaningful access to all data stakeholders. TopBraid EDG lets enterprises govern all relevant assets including business terms, reference data, enterprise metadata, data and application catalogs, data lineage, data exchanges and pipelines, requirements, policies and processes. TopBraid EDG is the only solution built to support integrated governance across all types of assets and governance needs while, at the same time, offering a staged approach to data governance. TopQuadrant’s customer list includes organizations in financial services, pharma, healthcare, digital media, government and other sectors. www.topquadrant.com.

Kristi Lee-John
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919-270-8054

Julie Sweet, Accenture CEO, Mads Nipper, Ørsted CEO, Judson Althoff, Microsoft EVP & Chief Commercial Officer, and Øyvind Eriksen, Aker ASA President, & CEO to open the annual conference. The free, virtual event will feature global leaders and innovators who are driving industry and supply chains toward a more innovative, data-driven, sustainable future.

OSLO, Norway, & AUSTIN, Texas--(BUSINESS WIRE)--#Data--Cognite, a leader in industrial innovation, in partnership with Microsoft and Aker Horizons will host its fourth annual global conference, Ignite Talks on September 21-23, 2021. Top leaders in Technology & AI, Energy, Power and Utilities, Manufacturing, Finance, Renewables, and Cybersecurity will share insights at the three-day virtual industrial digitalization conference, co-located in Asia, Europe, the Middle East, and the United States.

“To truly transform and meet net-zero goals, the time to act is now,” says John Markus Lervik, Cognite co-founder and CEO. “We host Ignite Talks to bring industry leaders together in what we see as an increasingly vital, solution-oriented conversation. It’s about industrial data and making the most of it. It’s about the challenges and opportunities in optimizing massive operations through technology. And it’s about striking a crucial balance between business sustainability and environmental sustainability.”

“Understanding and contextualizing data is essential for companies to take command of their digital manufacturing transformations, to make progress toward net-zero, and to succeed in the industrial future,” says Julie Sweet, Chair and CEO of Accenture. “That is why Cognite and Accenture are committed to working with our clients and ecosystem partners to empower manufacturers to discover new insights within their data, quickly and at scale.”

“Reaching net-zero requires organizations to transform data-driven insights into action so they can assess impact, evaluate progress and retool operations. At Microsoft, we are committed, along with partners like Cognite, to co-innovate solutions that allow organizations to advance their sustainability journey,” says Judson Althoff, Microsoft’s chief commercial officer.

Attendees can expect conversations on how technology shapes our industrial future, circular economies, the rise of automation, and the future of industrial data management. There will also be deep dives on profitable sustainability and Industrial DataOps.

Register now and view a full agenda for this online conference: ignitenews.com/ignite-talks/ and view the Ignite Talks video

Microsoft and Aker Horizons serve as Ignite Talks conference partners. Gold sponsors include Accenture, Aize, Capgemini, Cognizant, Itera, TietoEVRY, Wood, Yokogawa.

Highlighted Ignite Talks Include:

Tuesday, September 21, 2021

Ignite’s Opening Address: From “Talks” to Action

• Julie Sweet, CEO, Accenture
• Mads Nipper, CEO, Ørsted
• Judson Althoff, EVP & Chief Commercial Officer, Microsoft
• Øyvind Eriksen, President and CEO, Aker ASA
• John Markus Lervik, CEO and co-founder, Cognite

The Future of Energy: Technology as an Enabler of Profitable Sustainability

• Kristian Røkke, CEO, Aker Horizons
• Kristin F. Kragseth, CEO, Petoro
• Hilde Tonne, CEO, Statnett
• Paula Doyle, SVP Sales and Marketing, Cognite

Building Resilient and More Sustainable Energy Companies of the Future

• Mario Mehren, CEO, Wintershall Dea
• Kristin Færøvik, Managing Director, Lundin Energy Norway

Wednesday, September 22, 2021

Lifting Profitability, Driving Sustainability: New Strategic Direction Toward 2050

• Hilde Merete Aasheim, President & CEO, Hydro
• Sigve Brekke, President & CEO, Telenor Group
• Øyvind Eriksen, President and CEO, Aker ASA

The Future of Energy: How Technology Holds the Key to Transformation

• Surya Panditi, President & CEO, Enel X North America
• Bill Magness, Former President & CEO, ERCOT
• Carolina Torres, Sr. Director, Energy Industry Transformation, Cognite

The Manufacturing Leap from Proofs of Concept to Digital Operations at Scale

• Patrik Sjöstedt, EMEA Regional Business Leader, Manufacturing, Enterprise Commercial, Microsoft
• Hunter Beck, Director of Customer Success, Cognite

Thursday, September 23, 2021

The Tech Dimension of the Global Energy Transition

• Ahmed Hashmi, SVP Digital, Production and Business Services, bp
• Francois Laborie, President, North America, Cognite

How Utility Companies Can Build the Right Data Foundation for Analytics and Operations

• Susan Maley, Monitoring & Advanced Analytics, Electric Power Research Institute (ERPI)
• Michael Rossol, Data/Software Engineer, National Renewable Energy Laboratory
• Thomas Trøtscher, Chief Data Officer, Statnett

The Future of Industrial Data Management

• Alvin Shaffer, Head of Industry 4.0 for Renewables, Equinor US
• Susan Peterson Sturm, IoT Board Advisor, Independent
• Ben Blanchette, Program Director, Digital Manufacturing, Owens Corning

About Cognite

Cognite is a global industrial SaaS company that was established with one clear vision: to rapidly empower industrial companies with contextualized, trustworthy, and accessible data to help drive the full-scale digital transformation of asset-heavy industries around the world. Our core Industrial DataOps platform, Cognite Data Fusion™, enables industrial data and domain users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutios and applications to deliver both profitability and sustainability. Visit us at www.cognite.com and follow us on Twitter @CogniteData or LinkedIn: https://www.linkedin.com/company/cognitedata

Michelle Holford
Global PR Lead - Cognite
+15127443420 (US)
+4748290454 (Norway)
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HOUSTON--(BUSINESS WIRE)--ExxonMobil Catalysts and Licensing LLC (“ExxonMobil”) has introduced ExxonMobil Renewable Diesel process technology (“EMRD”) to help meet the evolving needs for mobility, while utilizing renewable feedstock. This new process technology converts feedstocks including, but not limited to, vegetable oils, unconverted cooking oil and animal fats, into renewable diesel.

• Meets advanced cold-flow specifications, while enabling high yields through use of the BIDW™ dewaxing catalyst technology
• Offers superior performance through a two-stage process versus a one-stage process

The EMRD process is a two-stage process in which hydrotreating and dewaxing are controlled separately. Compared to a single-stage process, this approach provides higher diesel yields and superior control. Additionally, the EMRD process provides the potential to produce jet fuel as a secondary product with added fractionation.

The EMRD process is an integrated solution that leverages ExxonMobil’s Bio-Isomerization Dewaxing (BIDW™) catalyst. This provides refiners and biofuel producers with powerful dewaxing in both winter and summer modes. Improved yields were demonstrated during testing of BIDW catalyst versus other internally formulated zeolite-based alternatives.

“Choosing the right process technology is critical to producing both renewable diesel and jet fuel from bio-feedstocks. The EMRD process provides an advanced solution that enables high yields while meeting stringent seasonal product specifications,” said James Ritchie, president of ExxonMobil Catalysts and Licensing LLC.

Due to significant interest in producing renewable jet fuel as a primary product, ExxonMobil is also developing advanced catalyst and process technology solutions that will offer EMRD process licensees flexibility to tailor the amount of jet fuel versus diesel produced.

About ExxonMobil Catalysts and Licensing LLC

ExxonMobil’s cutting-edge proprietary catalysts, gas treating solvents and advantaged process technologies help refineries, petrochemical manufacturers and gas processors increase capacity, lower costs, improve margins, reduce emissions and operate safe, reliable and efficient facilities. Ready for better results across your refining, gas and chemical needs?

About ExxonMobil Chemical

ExxonMobil Chemical is one of the largest chemical companies in the world. The company holds leadership positions in some of the largest-volume and highest-growth commodity chemical products. ExxonMobil Chemical has manufacturing capacity in every major region of the world, serving large and growing markets. More than 90 percent of the company’s chemical capacity is integrated with ExxonMobil refineries or natural gas processing plants. To learn more, visit www.exxonmobilchemical.com. Follow us on Twitter and LinkedIn.

Note to Editors:

The terms, “we,” “our,” "ExxonMobil Chemical," or "ExxonMobil" are used for convenience, and may include any one or more of ExxonMobil Chemical Company, Exxon Mobil Corporation, or any affiliates they directly or indirectly steward. The ExxonMobil Logo, the Interlocking X Device, ExxonMobil, and Santoprene are trademarks of ExxonMobil.

Cautionary Statement:

Statements of future events or conditions in this release are forward-looking statements. Actual future results, our production capacity, and the impact of the COVID-19 pandemic on ExxonMobil’s business and results could vary significantly depending on a number of factors including the supply and demand for oil, gas, and petroleum products and other market factor affecting oil, gas, petrochemical and feedstock prices; the outcome of government policies and actions, including actions taken to address COVID 19 and to maintain the functioning of national and global economies and markets; the severity, length and ultimate impact of COVID-19 on people and economies; the outcome of further research and testing; the development and competitiveness of alternative technologies; the impact of company actions to protect the health and safety of employees, vendors, customers, and communities; actions of competitors and commercial counterparties; the ability to scale pilot projects on a cost-effective basis; political and regulatory developments including actions that may favor certain types of technologies over others; the outcome of commercial negotiations; and other factors discussed under Item 1A Risk Factors in ExxonMobil’s most recent annual report on Form 10-K and set forth under the heading “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com.

Media Line (972) 940-6007

DUBLIN--(BUSINESS WIRE)--The "Egypt Diesel Genset Market (2021-2027): Market Forecast by KVA Rating, by Applications, by Regions, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

Egypt Diesel Genset Market is projected to grow at a CAGR of 3.1% during 2021-2027.

The Egypt diesel genset market is anticipated to witness modest growth during the forecast period. Diesel gensets in Egypt are heavily deployed across various domains such as commercial, industrial, and transportation to provide a reliable and uninterrupted power supply.

The growing electricity demand supported by the country's economic diversification plans such as Egypt Vision 2030, Egypt's long-term national development framework, along with the rising number of ongoing industrial projects such as the Industrial City in Atfih, Coal-Fired Power Plant - Hamrawein, El-Dabaa Nuclear Power Plant Coal-Fired Power Plant - Suez are the key factors, which would drive the market for diesel gensets in Egypt in the coming years.

The outburst of coronavirus has adversely impacted the country's diesel genset market in 2020 as the government imposed nation-wide lockdown has led to the closure of all construction operations and disrupted the demand and supply of diesel gensets. However, the market is expected to recover post the pandemic.

Rapid industrialization has resulted in the increasing demand for a continuous and reliable electricity source, which is expected to drive the diesel genset market in the coming years. Further, the Industry and Trade Development Strategy, ICT strategy 2030, new customs law 2020, are a few of the government initiatives that aim to develop and strengthen public service sectors such as commercial, manufacturing, healthcare, ICT and telecommunication, creating a massive demand for power backup equipment for the developmental activities.

Diesel genset with a rating of 375.1kVA - 750kVA, which are majorly deployed as power backup systems in the industrial and logistics sector, accounts for the significant market revenue share and are expected to retain its dominance over the forthcoming years. Based on applications, the industrial vertical emerged as the dominating segment, in revenue terms in 2020 on account of widespread usage of gensets in factories and manufacturing plants.

Power generation and oil & gas industries are the major users of diesel generators in the industrial segment. As these processes are critical, they are generally backed by secondary power source such as diesel gensets, to provide power in case of outages and to cater to additional load/power requirements.

Egypt diesel genset market report comprehensively covers the diesel genset market by kVA ratings, applications and regions. The report provides an unbiased and detailed analysis of the diesel genset market on-going trends, opportunities, high growth areas, market drivers, and market share by companies which would help the stakeholders to device and align their market strategies to the current and future market dynamics.

Key Topics Covered:

1. Executive Summary

2. Introduction

2.1. Report Description

2.2. Key Highlights of The Report

2.3. Market Scope & Segmentation

2.4. Research Methodology

2.5. Assumptions

3. Middle East and Africa Diesel Genset Market Overview

3.1. Middle East and Africa Diesel Genset Market Revenues & Volume, 2017-2027F

3.2. Middle East and Africa Diesel Genset Market Revenues & Volume Shares, By Countries 2020 & 2027F

3.2.1 Middle East and Africa Diesel Genset Market Revenues & Volume, By Countries 2017-2027F

4. Egypt Diesel Genset Market Overview

4.1. Egypt Diesel Genset Market Revenues & Volume, 2017-2027F

4.2. Egypt Diesel Genset Market - Industry Life Cycle, 2020

4.3. Egypt Diesel Genset Market - Porter's Five Forces

4.4. Egypt Diesel Genset Market Revenues Share, By Regions, 2020 & 2027F

5. Egypt Diesel Genset Market Dynamics

5.1. Impact Analysis

5.2. Market Drivers

5.3. Market Restraints

6. Egypt Diesel Genset Market Trends

7. Egypt Diesel Genset Market Overview, By kVA Ratings

7.1. Egypt Diesel Genset Market Revenues Share, By kVA Ratings, 2020 & 2027F

7.2. Egypt Diesel Genset Market Volume Share, By kVA Ratings, 2020 & 2027F

7.3. Egypt Diesel Genset Market Revenues & Volume, By kVA Ratings, 2017-2027F

7.3.1. Egypt Up to 75 kVA Rating Diesel Genset Market Revenues & Volume, 2017-2027F

7.3.2. Egypt 75.1-375 kVA Rating Diesel Genset Market Revenues & Volume, 2017-2027F

7.3.3. Egypt 375.1-750 kVA Rating Diesel Genset Market Revenues & Volume, 2017-2027F

7.3.4. Egypt 750.1-1000 kVA Rating Diesel Genset Market Revenues & Volume, 2017-2027F

7.3.5. Egypt Above 1000 kVA Rating Diesel Genset Market Revenues & Volume, 2017-2027F

8. Egypt Diesel Genset Market Overview, By Applications

8.1. Egypt Diesel Genset Market Revenues Share, By Applications, 2020 & 2027F

8.1.1. Egypt Diesel Genset Market Revenues, By Commercial Application, 2017-2027F

8.1.2. Egypt Diesel Genset Market Revenues, By Industrial Application, 2017-2027F

8.1.3. Egypt Diesel Genset Market Revenues, By Residential Application, 2017-2027F

8.1.4. Egypt Diesel Genset Market Revenues, By Transportation & Infrastructure Application, 2017-2027F

9. Egypt Diesel Genset Market Overview, By Regions

9.1. Egypt Diesel Genset Market Revenues, By Northern Region, 2017-2027F

9.2. Egypt Diesel Genset Market Revenues, By Southern Region, 2017-2027F

10. Egypt Diesel Genset Market - Key Performance Indicators

11. Egypt Diesel Genset Market Import Statistics

11.1. Egypt Up to 75 kVA Diesel Gensets Import, By Country, 2019

11.2. Egypt 75.1 - 375 kVA Diesel Gensets Import, By Country, 2019

11.3. Egypt Above 375 kVA Diesel Gensets Import, By Country, 2019

12. Egypt Diesel Genset Market Opportunity Assessment

12.1. Egypt Diesel Genset Market Opportunity Assessment, By kVA Ratings, 2027F

12.2. Egypt Diesel Genset Market Opportunity Assessment, By Applications, 2027F

13. Egypt Diesel Genset Market Competitive Landscape

13.1. Egypt Diesel Genset Market Competitive Benchmarking, By Technical Parameters

13.2. Egypt Diesel Genset Market Competitive Benchmarking, By Operating Parameters

13.3. Egypt Diesel Genset Market Revenues Share, By Company, 2020

14. Company Profiles

• Aggreko PLC.
• Atlas Copco AB
• Caterpillar Inc.
• Cummins Inc.
• Generac Power Systems, Inc
• Kohler Co.
• Mitsubishi Heavy Industries Ltd.
• MTU Onsite Energy Corporation
• Teksan Generator Power Industries and Trade Co. Inc.
• Yanmar Holdings Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/3o9lkt

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 Partnership bolsters Priority Power's position as an energy transition pioneer

ARLINGTON, Texas--(BUSINESS WIRE)--Priority Power Management, LLC (“Priority Power”), an independent energy services provider offering smart energy solutions and streamlined transitions to carbon neutrality, announced today a $250 million investment from funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and other select institutional investors. Ara Partners, a Houston-based private equity firm specializing in industrial decarbonization investments that acquired Priority Power in 2019, will continue to hold an ownership stake.

Priority Power was founded in 2001 and serves over 7,000 commercial and industrial customers in North America totaling over $2.7 billion of energy procurement under management. Priority Power has a unique approach delivering comprehensive energy solutions that are designed to address customer specific goals while considering the economic and sustainability benefits of electricity delivered to and behind the meter, all with the enhanced benefit of optimizing commodity procurement and usage through its 24/7 market intelligence operations center. In addition, Priority Power designs, constructs, owns and operates private networks of medium and high voltage transmission lines, substations, and renewable generation and battery storage assets.

Brandon Schwertner, CEO of Priority Power, said, “The energy transition is underway and will take decades to unfold. The market for energy solutions is complicated and fragmented. We help our customers by delivering integrated, smart solutions that unlock value across the entire energy value chain, arriving at the most economic, reliable, and sustainable energy solution. Oaktree has played a significant role in the electricity markets for the past two decades. As a result of this investment, we will be able to stay ahead of the ramping demand for decarbonization, and as a result our clients will benefit. We are honored to add Oaktree as a partner, alongside our existing financial sponsor, Ara Partners.”

John Bick, co-founder and Chief Commercial Officer of Priority Power, said, “I am humbled by our continued growth and constant innovation in an ever-changing market, largely driven by our dedicated employees and the trust and confidence that our customers have continued to place in us. Ara, and now Oaktree, share our vision and passion for delivering bespoke, customer-focused solutions. I look forward to leveraging Oaktree’s broad market experience for the benefit of our customers.”

David Nicoll, Senior Vice President at Oaktree, said, “Oaktree is excited to partner with Priority Power and Ara Partners to accelerate Priority Power’s deployment of innovative energy solutions that enable customers to secure energy resources reliably and economically while contributing to grid stability, advancing their adoption of renewable energy, and achieving their sustainability goals.”

Troy Thacker, a Managing Partner at Ara Partners, said, “We are thrilled by what Priority Power has accomplished under our ownership. During this period, we have partnered with the management team to execute a range of attractive growth opportunities, including two strategic acquisitions, that have further positioned Priority Power to be a leader in the ongoing energy transition. We are excited to welcome Oaktree as our new partner in Priority Power’s very compelling future.”

Stifel served as sole placement agent to Priority Power in connection with the transaction.

About Priority Power

Priority Power provides comprehensive energy solutions to deliver reliable, economic, and sustainable energy solutions to commercial and industrial customers in North America. To date, Priority has reduced over 7mm metric tons Green House Gas emissions. For more information on Priority Power, please visit www.prioritypower.com.

Oaktree Capital Management

Oaktree is a leader among global investment managers specializing in alternative investments, with $156 billion in assets under management as of June 30, 2021. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.

Ara Partners

Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that are focused on sustainability and ESG principles. For more information on Ara Partners, please visit www.arapartners.com.

Priority Power Contact:
Katherine Tappan
Investor Relations
501-951-5282
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• Schneider Electric shares new connected wiring device lines with the public for the first time at 2021 CEDIA Expo
• Connected devices can be controlled conveniently through a smart phone app or with voice activation through a smart speaker
• Full line of connected light switches, dimmers and outlets automate the home’s lighting, allow discrete control of power and provide energy usage at the plug level to optimize home energy use
• Feature-rich X Series easily installs to provide a refreshed modern look and smart home compatibility, while XD Series offers a premium version with additional design options

INDIANAPOLIS--(BUSINESS WIRE)--#LifeIsOn--Schneider Electric, the leader in the digital transformation of energy management and automation, today unveiled the Square D™ X and XD Series connected wiring devices to the public for the first time at the 2021 CEDIA Expo. As the best value in wiring devices, the X Series is feature-rich, including easy installation, refreshed modern design and smart home compatibility. The XD Series takes this further providing a more premium option with additional design features, a range of colors and a more sophisticated cover plate option that can easily be changed. Now, homeowners can completely change the look without rewiring the device!

Connectivity of this new line establishes a new benchmark for home wiring devices. With embedded sensors that monitor energy consumption, these devices complete the grid-to-plug solution enabling intelligent home energy management via Wi-Fi and Z-Wave. This real-time energy monitoring offers greater insight into energy down to the device level, providing new levels of control to homeowners through the Wiser Energy™ monitoring app to optimize their overall home energy use.

As the most sustainable corporation in the world, Schneider Electric recognizes the challenge facing today’s homeowners in balancing the increasing need for residential energy and a desire for modern convenience and modern aesthetics. These sleek devices raise the bar for both with a refreshed design and convenient control from a smartphone or through a smart speaker, like the Amazon Alexa or Google Home, for voice activation.

“Homes are on track to become the single-largest consumer of electricity while the cost of that electricity continues to rise, offering two-fold challenge to today’s homeowners,” said Richard Korthauer, Vice President, Home & Distribution, Schneider Electric. “The new X and XD Series connected wiring devices offer greater insight and control to help homeowners optimize their energy use, paired with a modern look and the convenient functionality that fits their lifestyle.”

Classic functionality meets ease of installation

The all new Square D™ connected wiring devices bring classic functionality with a new ease of installation and safety:

• Tamper-resistant shutters put safety at the forefront, without making it visibly obvious
• Side-mounted pressure plates speed wiring time with better accessibility
• Larger cutouts allow easy-access space for wire snips
• Self-grounded clips replace ground wire for media box application
• Ground wire holes for faster installation of the ground wire to the ground screw

The new Square D™ X Series line of connected wiring devices is now available, and the XD series line will be available in October.

For more information on this and other grid-to-plug innovations, please visit https://www.se.com/us/en/home/offers/connected-home/.

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

www.se.com

Discover Life Is On

Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog

Hashtags: #LifeIsOn #SmartHome #SquareD #WiringDevices

Schneider Electric Media Relations – Thomas Eck, Phone: 917-797-4974; This email address is being protected from spambots. You need JavaScript enabled to view it.
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NEW YORK--(BUSINESS WIRE)--#Barclays--Hess Corporation (NYSE: HES) announced today that John Hess, Chief Executive Officer, will present at the Barclays CEO Energy-Power Conference in New York on September 9, 2021 at 8:00 a.m. Eastern Time.

A live audio webcast and a replay of the discussion will be accessible via Hess Corporation’s website.

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/.

Cautionary Statements

This presentation will contain projections and other 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. These projections and statements reflect the company’s current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that these projections will be achieved, and actual results could differ materially from those projected as a result of certain risk factors. A discussion of these risk factors is included in the company’s periodic reports filed with the Securities and Exchange Commission.

Investor contact:
Jay Wilson
(212) 536-8940
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Media contact:
Lorrie Hecker
(212) 536-8250
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DUBLIN--(BUSINESS WIRE)--The "Methanol Market Research Report by Source (Coal and Natural gas), by End Use Industry (Automotive, Chemical, and Construction), by Derivatives, by Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2026 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.

The Global Methanol Market size was estimated at USD 33.69 Billion in 2020 and expected to reach USD 34.77 Billion in 2021, at a Compound Annual Growth Rate (CAGR) 3.55% to reach USD 41.54 Billion by 2026.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Methanol Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Methanol Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Methanol Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Methanol Market?

4. What is the competitive strategic window for opportunities in the Global Methanol Market?

5. What are the technology trends and regulatory frameworks in the Global Methanol Market?

6. What is the market share of the leading vendors in the Global Methanol Market?

7. What modes and strategic moves are considered suitable for entering the Global Methanol Market?

Market Dynamics

Drivers

• Increasing demand for synthetic fabrics and fibers in textile
• Rising adoption of paint & coatings across industries
• High demand for methanol applications in automotive and construction industries

Restraints

• Formaldehyde emissions from methanol

Opportunities

• E-methanol promising growth as future fuel
• Proliferation of end-use industries

Challenges

• Methanol cost slightly higher than premium gasoline
• Health hazards related to exposure of methanol

Companies Mentioned

• Atlantic Methanol Production Company
• BASF SE
• Celanese Corporation
• Eastman Chemical Company
• Methanex Corporation
• Methanol Holdings Limited
• Mitsubishi Gas Chemical Co., Inc.
• Mitsui & Co., Ltd
• Petroliam Nasional Berhad
• SABIC
• Zagros Petrochemical Company

For more information about this report visit https://www.researchandmarkets.com/r/6uydd7

ResearchAndMarkets.com
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DUBLIN--(BUSINESS WIRE)--The "Digital Oilfield Market - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global digital oilfield market size is projected to grow from an estimated USD 24.3 billion in 2021 to USD 32.0 billion by 2026, at a CAGR of 5.6% from 2021 to 2026.

The key drivers for the digital oilfield market include new technological advancements in the oil & gas industry; increased return on investment in the oil & gas industry; and the growing need for maximizing production potential from mature wells.

The hardware solutions segment is expected to hold the largest share of the digital oilfield market, by solution, during the forecast period.

The hardware solutions segment is estimated to lead the digital oilfield market during the forecast period. The hardware solutions segment includes distributed control systems (DCS), supervisory control and data acquisition (SCADA), smart wells, safety systems, wireless sensors, programmable logic controller (PLC), computer equipment & application hardware, process automation manager, and human-machine interaction instrument, which is responsible for surveillance and communication data transfer in both onshore and offshore fields.

The market for the hardware solutions segment is driven by the growing need to reduce nonproductive time, which increases emphasis on such hardware components offered by this segment. Europe is estimated to hold the largest share of the digital oilfield market, followed by North America because of the growing need for reducing manual intervention and the rising demand for big data management is expected to drive the market for the digital oilfield market.

Middle East: The fastest-growing market for digital oilfield.

The region has been segmented, by country, into Saudi Arabia, Oman, the UAE, Kuwait, and the Rest of the Middle East. The Rest of the Middle East includes Iran, Iraq, and Qatar. Saudi Arabia, the UAE, Kuwait, Iraq, and Iran are a few of the largest producers of crude oil and have the largest petroleum reserves in the world. According to the BP Statistical Review of World Energy June 2020, Saudi Arabia, the UAE, Kuwait, Iraq, Iran, and Qatar collectively accounted for 30.4% of the global oil production in 2019.

The recent deal between the Organization of the Petroleum Exporting Countries (OPEC) and other leading oil producers in the world to cap oil production for a period of time has helped stabilize global oil prices. The oil producers in the Middle East have continued production cuts and have played a vital role in increasing oil prices, hitting the USD 60 per barrel mark in February 2021 since the slump in 2020.

While major producers in the Middle East continued to rein in oil supply in their attempt to tighten the market, the national oil companies and international oil companies in the region announced expansion projects and strategic agreements, while major international companies signed contracts with a few of the national oil companies in the Gulf.

State-owned companies are dominant in this region while leading international oil companies such as Chevron (US), BP (UK), Shell (Netherlands), and ExxonMobil (US) are operating in the fields as service contractors or joint partners.

According to Baker Hughes' International Rig Count March 2019, the region witnessed an increased rig count from 392 rigs in March 2018 to 395 rigs in March 2019. The recent discovery of offshore reserves in the Red Sea is expected to increase the offshore exploration and production activities in the region.

Although the region's profit margin has declined, the region still tops the production charts. Saudi Aramco, a leading operator in the region, is expected to digitalize all its fields by 2021, and several Japanese companies are trying to penetrate the field development segment in the region. Advantages provided by digital oilfield solutions in crude oil recovery, with its proven benefits, can assist the Middle Eastern countries in the present market situation. The rise in E&P activities will further increase the demand for digital oilfield solutions in the near future.

The key players in the digital oilfield market include companies such as Halliburton (US), Schlumberger (US), Baker Hughes (US), Weatherford International (US), and NOV (US).

Premium Insights

• Growing Need to Enhance Production from Mature Oil and Gas Fields to Drive Growth of Digital Oilfield Market from 2021 to 2026
• Offshore Segment and Norway Were Largest Shareholders in European Digital Oilfield Market in 2020
• Digital Oilfield Market in the Middle East to Register Highest CAGR from 2021 to 2026
• Hardware Solutions Segment to Account for Largest Share of Digital Oilfield Market in 2026
• Production Optimization Segment to Account for Largest Share of Digital Oilfield Market in 2026
• Onshore Segment to Hold Larger Share of Digital Oilfield Market in 2026

Companies Mentioned

• ABB
• Accenture
• Baker Hughes
• CGG
• Digi International
• EDG
• Emerson
• Halliburton
• Honeywell International
• IBM
• Intel
• Katalyst
• Kongsberg
• Microsoft
• Nov
• Oleumtech
• Oracle
• Pason
• Petrolink
• Redline
• Rockwell Automation
• Schlumberger
• Siemens
• Weatherford International

For more information about this report visit https://www.researchandmarkets.com/r/14y524

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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KANSAS CITY, Mo.--(BUSINESS WIRE)--Kansas City Southern (NYSE: KSU) (“KCS”) today announced that it has received an unsolicited proposal from Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ("CP") reaffirming its interest in acquiring KCS.

In its proposal, CP reiterated identical terms to the proposal made on August 10, 2021, whereby holders of KCS common stock would receive 2.884 CP common shares and $90 in cash for each share of KCS common stock held. In addition, CP reiterated that holders of KCS preferred stock would receive $37.50 in cash for each share of KCS preferred stock held.

On May 21, 2021, KCS announced that it had entered into a definitive agreement with CN (TSX: CNR, NYSE: CNI), pursuant to which CN agreed to acquire KCS in a stock and cash transaction valued at $325 per KCS share based on the CN and KCS closing prices on May 12, 2021. The transaction is subject to customary closing conditions including receipt of regulatory approvals and the approval of KCS stockholders.

The KCS Board of Directors will evaluate CP’s proposal in accordance with the terms of KCS’ merger agreement with CN and respond in due course.

‎BofA Securities and Morgan Stanley & Co. LLC are serving as financial advisors to Kansas City Southern. Wachtell, Lipton, Rosen & Katz, Baker & Miller PLLC, Davies Ward Phillips & Vineberg LLP, WilmerHale, and White & Case, S.C. are serving as legal counsel to Kansas City Southern.

About Kansas City Southern

Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com

Forward-Looking Statements

Certain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management’s assessment and assumptions and publicly available information with respect to KCS, regarding the proposed transaction between CN and KCS, the expected benefits of the proposed transaction and future opportunities for the combined company. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN and KCS caution that their assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words.

Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN, or the combined company, to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to: the outcome of the proposed transaction between CN and KCS; the parties’ ability to consummate the proposed transaction; the conditions to the completion of the proposed transaction; that the regulatory approvals required for the proposed transaction may not be obtained on the terms expected or on the anticipated schedule or at all; CN’s indebtedness, including the substantial indebtedness CN expects to incur and assume in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; CN’s ability to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the possibility that CN may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate KCS’ operations with those of CN; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees of KCS may be difficult; the duration and effects of the COVID-19 pandemic, general economic and business conditions, particularly in the context of the COVID-19 pandemic; industry competition; inflation, currency and interest rate fluctuations; changes in fuel prices; legislative and/or regulatory developments; compliance with environmental laws and regulations; actions by regulators; the adverse impact of any termination or revocation by the Mexican government of KCS de México, S.A. de C.V.’s Concession; increases in maintenance and operating costs; security threats; reliance on technology and related cybersecurity risk; trade restrictions or other changes to international trade arrangements; transportation of hazardous materials; various events which could disrupt operations, including illegal blockades of rail networks, and natural events such as severe weather, droughts, fires, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings or other types of claims and litigation; risks and liabilities arising from derailments; timing and completion of capital programs; and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should also be made to Management’s Discussion and Analysis in CN’s annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN’s website, for a description of major risk factors relating to CN. Additional risks that may affect KCS’ results of operations appear in Part I, Item 1A “Risks Related to KCS’ Operations and Business” of KCS’ Annual Report on Form 10-K for the year ended December 31, 2020, and in KCS’ other filings with the U.S. Securities and Exchange Commission (“SEC”).

Forward-looking statements reflect information as of the date on which they are made. CN and KCS assume no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN or KCS does update any forward-looking statement, no inference should be made that CN or KCS will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

No Offer or Solicitation

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Additional Information and Where to Find It

In connection with the proposed transaction, CN has filed with the SEC a registration statement on Form F-4 to register the shares to be issued in connection with the proposed transaction, and the registration statement has been declared effective. CN has filed with the SEC its prospectus and KCS has filed with the SEC its definitive proxy statement in connection with the proposed transaction, and the KCS proxy statement is being sent to the stockholders of KCS seeking their approval of the merger-related proposals. This news release is not a substitute for the registration statement, the prospectus, the proxy statement or other documents CN and/or KCS may file with the SEC or applicable securities regulators in Canada in connection with the proposed transaction.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROSPECTUS, THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC OR APPLICABLE SECURITIES REGULATORS IN CANADA CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) BECAUSE THEY CONTAIN AND WILL CONTAIN IMPORTANT INFORMATION ABOUT CN, KCS AND THE PROPOSED TRANSACTION. Investors and security holders may obtain copies of these documents (if and when available) and other documents filed with the SEC and applicable securities regulators in Canada by CN free of charge through at www.sec.gov and www.sedar.com. Copies of the documents filed by CN (if and when available) will also be made available free of charge by accessing CN’s website at www.CN.ca. Copies of the documents filed by KCS (if and when available) will also be made available free of charge at www.investors.kcsouthern.com, upon written request delivered to KCS at 427 West 12th Street, Kansas City, Missouri 64105, Attention: Corporate Secretary, or by calling KCS’ Corporate Secretary’s Office by telephone at 1-888-800-3690 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

Participants

This news release is neither a solicitation of a proxy nor a substitute for the registration statement, the prospectus, the proxy statement or other filings that may be made with the SEC and applicable securities regulators in Canada. Nonetheless, CN, KCS, and certain of their directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about CN’s executive officers and directors is available in its 2021 Management Information Circular, dated March 9, 2021, as well as its 2020 Annual Report on Form 40-F filed with the SEC on February 1, 2021, in each case available on its website at www.CN.ca/investors/ and at www.sec.gov and www.sedar.com. Information about KCS’ directors and executive officers may be found on its website at www.kcsouthern.com and in its 2020 Annual Report on Form 10-K filed with the SEC on January 29, 2021, available at www.investors.kcsouthern.com and www.sec.gov. Additional information regarding the interests of such potential participants is or may be included in the registration statement, the prospectus, the proxy statement or other documents filed with the SEC and applicable securities regulators in Canada if and when they become available. These documents (if and when available) may be obtained free of charge from the SEC’s website at www.sec.gov and from www.sedar.com, as applicable.

Media
C. Doniele Carlson
KCS Corporate Communications & Community Affairs
(816) 983-1372
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Joele Frank, Wilkinson Brimmer Katcher
Tim Lynch / Ed Trissel
(212) 355-4449

Investment Community
Ashley Thorne
Vice President
Investor Relations
(816) 983-1530
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MacKenzie Partners, Inc.
Dan Burch / Laurie Connell
(212) 929-5748 / (212) 378-7071
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HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) today announced it will contribute $500,000 to the American Red Cross to assist relief efforts after Hurricane Ida swept through southeastern Louisiana.

“We stand with our many employees, friends and neighbors across southeastern Louisiana,” said Phillips 66 Chairman and CEO Greg Garland. “We know it’s going to take the combined efforts of many to get through the coming weeks, and we’re grateful to the Red Cross and others on the ground making sure those affected can start to rebuild their lives and communities.”

The hurricane made landfall on Aug. 29 as a powerful Category 4 storm, knocking out power across the region and bringing devastating floodwaters. Phillips 66 has confirmed that all of its nearly 500 employees who work at its assets in the area are safe.

“Thanks to Phillips 66’s generous support, the Red Cross, alongside our partners, is able to shelter and support thousands of families impacted by Hurricane Ida,” said Don Herring, chief development officer at the American Red Cross. “We are proud to count on partners like Phillips 66 as we work together to provide much-needed comfort and care to help people in need.”

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $57 billion of assets as of June 30, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.

Bernardo Fallas (media)
855-841-2368
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