IRVING, Texas--(BUSINESS WIRE)--ExxonMobil has increased its participation in the proposed Acorn carbon capture project in Scotland by signing an Expression of Interest to capture, transport and store CO2 from its Fife Ethylene Plant.
The agreement to include the ethylene plant, located in Mossmorran, Scotland, is in addition to an earlier announced Memorandum of Understanding to capture and store emissions from gas terminals at the St Fergus complex at Peterhead, Scotland, which includes ExxonMobil’s joint venture gas terminal.
The initial phase of Acorn, which is bidding to be in the first wave of carbon capture clusters to be announced by the UK government, has the potential to deliver more than half of the country’s target of capturing and storing 10 million metric tons per year of CO2 by 2030. When expanded further, it will have the potential to store more than 20 million metric tons per year of CO2 by the mid-2030s.
“The application of carbon capture and storage technology at the Fife Ethylene Plant demonstrates our commitment to reducing CO2 emissions from the industrial sector,” said Joe Blommaert, president of ExxonMobil Low Carbon Solutions. “With the right government policies in place and industry collaboration, the carbon capture and storage opportunities we are evaluating, such as in Scotland, have the potential to move forward with current technologies for large-scale, game-changing emissions reductions.”
The Acorn project recently announced plans to capture and store CO2 from the Grangemouth Refinery, and the addition of Mossmorran facilities will help Scotland reduce emissions in its industrial sector.
“The Acorn project has the potential to capture and store CO2 emissions from Scotland’s largest industrial center, which is an economic engine for the country,” said Martin Burrell, plant manager of the Fife Ethylene Plant. “This agreement allows us to explore the potential for significant emissions reduction through carbon capture and storage, and ensure Scotland continues to benefit from vital manufacturing facilities such as Fife.”
The Fife Ethylene Plant recently completed a $170 million (£140 million) investment program to upgrade key infrastructure and introduce new technologies that will significantly improve operational reliability and performance. A further project is underway to install an enclosed ground flare. On schedule to be operational by the end of 2022, the unit is designed to significantly reduce noise, light and vibration, and it is estimated the investment will reduce the use of the plant’s elevated flare by at least 98 percent.
These investments, together with ExxonMobil’s participation in the Acorn project, demonstrate a commitment to reducing emissions and to Fife’s future as a competitive asset.
ExxonMobil Low Carbon Solutions is evaluating several other carbon capture and storage projects around the world, including in Rotterdam, Netherlands; Normandy, France; LaBarge, Wyoming; and a world-scale carbon capture and storage hub concept in Houston, Texas. The company has an equity share in approximately one-fifth of global CO2 capture capacity and has captured approximately 40 percent of all the captured anthropogenic CO2 in the world.
ExxonMobil established its Low Carbon Solutions business to commercialize low-emission technologies. It is initially focusing its carbon capture efforts on point source emissions, the process of capturing CO2 from industrial activity that would otherwise be released into the atmosphere, and injecting it into deep underground geologic formations for safe, secure and permanent storage. The business is also pursuing strategic investments in biofuels and hydrogen to bring those lower-emissions energy technologies to scale for hard-to-decarbonize sectors of the global economy.
The International Energy Agency projects that carbon capture and storage could mitigate up to 15% of global emissions by 2040, and the U.N. Intergovernmental Panel on Climate Change estimates global decarbonization efforts could be twice as costly without its wide-scale deployment.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com, the Energy Factor and Carbon capture and storage | ExxonMobil.
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Cautionary Statement: Statements of future events, investment opportunities or conditions in this release are forward-looking statements. Actual future results, including project plans, timing, volumes, and costs; future relative reductions in emissions and emissions intensity; carbon capture, hydrogen, and biofuel deployment and results; and the impact of operational and technology efforts could vary depending on the results of future study and research efforts, including the ability to scale projects and technologies on a commercially competitive basis; any changes in plans or objectives upon final project approvals; the ability to execute operational objectives on a timely and successful basis; the ability to obtain and timing of required governmental and other third party consents; the development and pace of supportive market conditions and national, regional and local policies relating to carbon capture, hydrogen, biofuels, and emission reductions; changes in laws and regulations including laws and regulations regarding greenhouse gas emissions, carbon costs, and taxes; the outcome of commercial negotiations; the effectiveness of cooperative efforts to develop technologies and projects; trade patterns and the development and enforcement of local, national and international mandates and treaties; unforeseen technical or operational difficulties; changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.
ExxonMobil Media Relations
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HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE: NRG) is pleased to announce that it is partnering with Google to make it easier for customers to support a clean energy future. This supports NRG’s customer-focused strategy by applying the company’s unmatched ability to deliver insights, innovations and customer experience to help residential customers power their homes and lives. The collaboration will also leverage NRG’s longstanding expertise in commercial energy, delivering comprehensive energy solutions to businesses and partnering with them to achieve their sustainability goals.
NRG will include Nest Renew a new, innovative Google service as an option for eligible customers in Texas. This tool will help customers manage and make choices about their energy usage, deepen their sustainability journey, and track the positive difference they are making, right from their homes. The service works with compatible Nest thermostats1 to help customers automatically shift their heating and cooling electricity usage to times when the grid is cleaner2, in turn allowing energy companies to better manage energy fluctuations and drive a cleaner, more resilient energy future. Nest Renew was built on the premise that to support the fight against climate change, today’s grids need to be more flexible and resilient.
“NRG is proud to partner with Google and empower our customers with additional options for supporting clean energy,” said Mauricio Gutierrez, President and CEO of NRG Energy. “Our companies share a longstanding commitment to addressing and combating the impacts of climate change with innovative products and solutions, such as Google Nest Renew. In this way, we’re helping our customers make their own impact on climate, easy.”
Nest Renew marks the latest development in NRG and Google’s longstanding collaboration, which began in 2012 with the goal of developing tech-enabled energy offerings that make power a part of customers’ interconnected lives at work and at home.
In addition to providing Nest Renew to eligible residential customers, NRG will leverage its expertise in commercial energy to support Nest Renew services by offering Google Renewable Energy Certificates (RECs) over the course of this program. RECs are derived from renewable resources and provide high impact carbon-reduction and sustainability benefits.
Forward-Looking Statements
This news release contains 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. Forward-looking statements are subject to certain risks, uncertainties and assumptions and typically can be identified by the use of words such as “expect,” “estimate,” “should,” “anticipate,” “forecast,” “plan,” “guidance,” “outlook,” “believe” and similar terms. Although NRG believes that the expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially.
NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the SEC at www.sec.gov.
About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy.
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1 Nest Renew requires the 3rd generation Nest Learning Thermostat, Nest Thermostat E, or the newest Nest Thermostat connected to a Google account (sold separately).
2 Available in areas served by major continental U.S. grids.
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Decarbonization efforts accelerated by opening up new channels for utilities to engage and activate their customers.
BOULDER, Colo.--(BUSINESS WIRE)--Uplight, the industry leading technology partner for energy providers transitioning to the clean energy ecosystem, announced its expanded capabilities to support utility connections to clean products and services, including support for Google’s Nest Renew. Nest Renew is a service for compatible Nest thermostats1 that makes it easy for energy consumers to support clean energy, enroll in utility demand response, and engage with time-of-use (TOU) programs. This can help utilities to manage peak demand, enhance reliability and reduce emissions.
Uplight’s open platform now enables utilities to easily and cost effectively surface their offerings through third-party channels to create an enhanced customer experience and accelerate outcomes. These new capabilities continue to expand the ecosystem for utilities, enabling them to leverage different channels to more easily meet customers where they are and scale decarbonization efforts as the number of grid-edge solutions expands exponentially.
Uplight is the most established innovator in the open ecosystem, already offering hundreds of third-party energy savings products through its top performing utility marketplaces and is one of the nation’s leaders in running device-agnostic grid orchestration programs. Uplight is also the only technology provider in the country to successfully bundle ecosystem offerings with multiple utility programs in a consumer-friendly digital experience.
Uplight’s connections to the ecosystem include critical technology to help safeguard utility customer data and privacy, create fast, single-point integrations between many utilities and ecosystem providers, and surface key utility capabilities, like rebates, eligibility verification, program enrollment and grid device orchestration so that more customers can participate.
“Uplight wants to be the open platform of choice for utilities and their growing list of partners to create a better customer experience and improve outcomes. Our utility clients are innovating and seeking new ways to engage with new services and products, like Google’s Nest Renew, that can help them lower carbon, lower costs and improve grid reliability. Uplight provides utilities with safe and smart ways to make this happen,” said Adrian Tuck, CEO of Uplight.
“Achieving the energy sector’s climate goals requires a wide range of strategies, and by partnering with Google on Nest Renew, Uplight provides new opportunities to engage with consumers, offers ways to save energy, and deliver bundled programs that increase program participation in demand response and support for renewable energy,” said Hannah Bascom, Google’s head of energy partnerships.
Utilities and clean energy product and service providers can learn more about Uplight and Nest Renew by visiting Uplight’s blog post and nestrenew.google.com.
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1Nest Renew requires the 3rd generation Nest Learning Thermostat, Nest Thermostat E, or the newest Nest Thermostat connected to a Google account (sold separately).
About Uplight
Uplight is the technology partner for energy providers and the clean energy ecosystem. Uplight’s software solutions connect energy customers to the decarbonization goals of power providers while helping customers save energy and lower costs, creating a more sustainable future for all. Using the industry’s only comprehensive customer-centric technology suite and critical energy expertise across disciplines, Uplight is streamlining the complex transition to the clean energy ecosystem for more than 80 electric and gas utilities around the world. By empowering energy providers to achieve critical outcomes through data-driven customer experiences, delivering control at the grid edge, creating new revenue streams and optimizing existing load and assets, Uplight shares a mission with its clients to make energy more sustainable for every community. Uplight is a certified B Corporation. To learn more, visit us at www.uplight.com, find us on Twitter @Uplight or on LinkedIn at Linkedin.com/company/uplightenergy.
Elaine Reddy
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SANTA MONICA, Calif.--(BUSINESS WIRE)--i(x) investments (“i(x)” or the “Company”), a permanently capitalized holding company focused on Energy Transition and Sustainability in the Built Environment (“SIBE”), is pleased to announce the listing on The New York Stock Exchange of Enphys Acquisition Corp. (“Enphys”), a blank check company (SPAC) targeting renewable energy businesses in Ibero-America, which it has co-sponsored with LAIG Investments.
Enphys Acquisition Corp plans to raise $300,000,000 with the pricing of its initial public offering today of 30,000,000 units at $10.00 per unit. The company increased its original plans to raise $250,000,000 through offering 25,000,000 units at $10.00 per unit due to increased investor demand and will pursue a broad range of potential investments in the public and private markets.
Enphys intends to focus on opportunities across the energy transition theme, in sectors such as renewable energy generation, energy storage, smart mobility, advanced fuels and carbon mitigation sectors, as well as other affiliated services, industries, and technologies, evaluating firms which might be undergoing a transition towards renewable technologies.
To date, “anchor investors” in the SPAC include: Alberta Investment Management Corp., Akaris Global Partners, LP, Ancora Advisors, LLC, Diameter Capital Partners LP, Fir Tree Capital Management (which is an investor in our sponsor), Polar Asset Management Partners, Sea Otter Securities Group LLC and the Teacher Retirement System of Texas, or funds affiliated with such anchor investors.
Steve Oyer, CEO of i(x) investments said: “i(x)’s investment in the Enphys team represents the kind of institutional quality and scalable investment in energy transition in the Latam growth markets that we believe can move us to a net zero future.”
The Enphys team brings more than 105 years of combined experience consisting of founders Jorge de Pablo, CEO, Carlos Guimarães, Chairman, Pär Lindström, CFO and CIO of i(x) investments and Matías de Buján, COO. The management team will undertake a proactive, thematic sourcing strategy and will focus its efforts on companies where it believes the combination of founders’ operating experience, deal making, investing track record, professional relationships and sector expertise can be catalysts to enhance the growth potential and unlock full value of a target business, as well as generate attractive returns to shareholders.
The Enphys team, which has been one of the most active investors in the energy transition sub-sectors (renewable energy generation, energy storage, and smart mobility) for the past fifteen years, sees a significant growth outlook for the Ibero-American region. The team believes Latin America region will profit from the energy transition theme for four primary reasons: 1. The region is endowed with top-class renewable energy resources; 2. Renewable energy investments enjoy wide social and political support 3. It benefits from supportive access to private international, local and multilateral financing and; 4. Regardless of economic cycles, secular growth demographics and urbanization drives sustainable growth in energy consumption.
Aligned with i(x) investments areas of focus, Enphys plans to take advantage of the energy transition of the global energy sector from fossil-based systems of energy generation and consumption to zero-carbon renewable energy sources. The increasing penetration of renewables into the energy supply mix, the onset of electrification and improvements in energy storage are all key drivers of the energy transition.
In addition to Enphys, i(x)’s investments includes WasteFuel (waste to fuel) and, indirectly, Carbon Engineering (carbon to value), Context Labs (environmental data) and investments in sustainable real estate firms, MultiGreen Properties and Sustainable Living Innovations.
Jorge de Pablo, CEO of Enphys said:
“We believe i(x)’s impact investing core values are a perfect fit for LAIG’s vision and business philosophy. This partnership marks an important milestone in the history of our firm. We are very excited with the powerful skill set formed by the combination of both of our organizations and the opportunity for us to together build the Latin American energy transition leader.”
Pär Lindström, CFO of Enphys and CIO of i(x) investments, said:
“LAIG’s unique deal access, track record, and ability to execute in these specific markets and the long-term goal of building the leading renewable energy platform in Latin America makes this partnership extremely attractive for us.”
Today’s announcement from Enphys can be found here: https://www.prnewswire.com/news-releases/enphys-acquisition-corp-announces-pricing-of-upsized-300-million-initial-public-offering-301393656.html
About i(x) investments
Founded in 2015, i(x) investments is a permanently capitalized holding company for investors who want to create long-term enterprise value in combination with positive, measurable social impact. i(x) believes the world’s biggest problems are also the biggest market opportunities and invests in areas of human need. i(x)’s current holdings focus on the Energy Transition and Sustainability in the Built Environment. The company uses a multi-strategy investment approach.
About LAIG Investments
Founded in 2008, LAIG invests in companies in the energy transition sector across Latin America, with a growing exposure to North America, Europe and Israel, establishing a proven track-record of building sustainable and fast-growing businesses. LAIG currently controls and operates assets in renewable energy generation, smart mobility and energy efficiency.
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The leading global supply chain visibility platform sees significant EMEA momentum and hires industry veteran Marc Boileau as part of its aggressive growth strategy in the region
AMSTERDAM--(BUSINESS WIRE)--Marc Boileau joins FourKites®, the world’s leading real-time supply chain visibility platform, as Senior Vice President, Sales and Carrier Operations, EMEA. Boileau will accelerate the company’s European expansion, bringing tenured supply chain experience and an aggressive strategy to build partnerships with both carriers and shippers. Prior to joining FourKites, Marc held leadership and commercial roles at supply chain visibility companies, including project44 and Transporean.
“I am thrilled to be joining the FourKites team,” says Boileau. “With the biggest global brands on its platform and the largest data network in the industry, FourKites is driving unmatched innovation and a truly global end-to-end visibility experience. One of my top priorities is to build our network of carriers — including small and mid-size carriers — to ensure the value they get is in line with the value they bring. They are truly the unsung heroes in our ecosystem.”
“FourKites is investing more than €45 million in our European expansion this year, both through organic growth and acquisitions, and Marc joining us is the latest milestone in this strategy,” says Mathew Elenjickal, founder and CEO of FourKites. “He is an excellent fit with the team, and his deep knowledge of the industry will help to propel our European presence to new heights.”
As the pandemic and an unprecedented series of disruptions continue to challenge global supply chains, including a European energy crisis, food shortages, labour shortages and more, European and multinational companies continue to turn to FourKites to track goods from origin to final destination to reduce costs, improve the customer experience and maximise business agility.
Over the last 12 months, the company has seen:
About FourKites
FourKites® is a leading global supply chain visibility platform, extending visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 2 million shipments daily across road, rail, ocean, air, parcel and courier, and reaching 176 countries, FourKites combines real-time data and powerful machine learning to help companies digitise their end-to-end supply chains. More than 620 of the world’s most recognised brands — including 9 of the top-10 CPG and 18 of the top-20 food and beverage companies — trust FourKites to transform their business and create more agile, efficient and sustainable supply chains. To learn more, visit https://www.fourkites.com/.
Scott Johnston
European PR Director, FourKites
+31 62 147 8442
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DUBLIN--(BUSINESS WIRE)--The "Gas Engine Market Research Report by Application, by Fuel Type, by Power Output, by Region - Global Forecast to 2026 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Gas Engine Market size was estimated at USD 3,732.64 Million in 2020 and expected to reach USD 3,947.65 Million in 2021, at a Compound Annual Growth Rate (CAGR) 6.09% to reach USD 5,324.45 Million 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 Gas Engine 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 Gas Engine Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Gas Engine Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Gas Engine Market?
4. What is the competitive strategic window for opportunities in the Global Gas Engine Market?
5. What are the technology trends and regulatory frameworks in the Global Gas Engine Market?
6. What is the market share of the leading vendors in the Global Gas Engine Market?
7. What modes and strategic moves are considered suitable for entering the Global Gas Engine Market?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/lnlwlw
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ABERDEEN, Scotland--(BUSINESS WIRE)--KNOT Offshore Partners LP (the “Partnership”) (NYSE: KNOP) will host its 2021 Virtual Investor Day today at 10:00 am ET, where the Partnership and its sponsor, Knutsen NYK Offshore Tankers AS, will provide an overview of the shuttle tanker business, give an update on the shuttle tanker market, and outline the supportive fundamentals that continue to underpin the Partnership’s leading market position and future growth expectations.
In addition, third-party experts from Fearnleys and Rystad Energy will present on Shuttle Tanker Fundamentals and Shuttle Tanker Market Outlook respectively.
A Q&A session will follow the prepared remarks.
The event will begin at 10:00 am ET today with a live video webcast that is accessible by visiting the Investor Relations section of the Partnership’s website at www.knotoffshorepartners.com. Please allow extra time prior to the call to visit the site and download any necessary software that may be needed to access the Internet broadcast. Presentation materials will be available on the website and an archived replay will also be available on the website shortly after the event concludes.
About KNOT Offshore Partners LP
KNOT Offshore Partners LP owns, operates and acquires shuttle tankers under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol “KNOP”.
KNOT Offshore Partners LP
Gary Chapman
Chief Executive Officer and Chief Financial Officer
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HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded a 211-day extension to its bareboat charter agreement with ARO Drilling for VALARIS JU-36 (Charles Rowan), a standard duty jackup. The extension is in direct continuation of the existing contract and, as a result, the VALARIS JU-36 will be under contract through March 2022. ARO Drilling’s contract with Aramco has been extended for the same period.
About Valaris
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
Cautionary Statements
Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," “should,” “will” and similar words. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the Company’s liquidity and ability to access financing sources, debt restrictions that may limit our liquidity and flexibility, the COVID-19 outbreak and global pandemic, the related public health measures implemented by governments worldwide, the volatility in oil prices caused in part by the COVID-19 pandemic and the decisions by certain oil producers to reduce export prices and increase oil production, and cancellation, suspension, renegotiation or termination of drilling contracts and programs. In particular, the unprecedented nature of the current economic downturn, pandemic, and industry decline may make it particularly difficult to identify risks or predict the degree to which identified risks will impact the Company’s business and financial condition. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10- Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.
Investor & Media Contact:
Tim Richardson
Director - Investor Relations
+1-713-979-4619
DUBLIN--(BUSINESS WIRE)--The "Wind Power Generators Market Size By Product, By Application, By Geographic Scope And Forecast" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, the Global Wind Power Generators Market was valued at USD 22,736.31 Million in 2019 and is projected to reach USD 35,581.77 Million by 2027, growing at a CAGR of 6.86% from 2020 to 2027.
The Global Wind Power Generators Market report provides a holistic evaluation of the market for the forecast period. The report comprises of various segments as well an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics, involves the drivers, restraints, opportunities and challenges through which the impact of these factors in the market are outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Wind Power Generators Market study provides an outlook on the development of market in terms of revenue throughout the prognosis period.
The rising awareness among the usage of renewable energy as Wind power generators are one of the fast deploying sources owing to their advantages over the other energy forms such as: cost effectivity of the wind power, and the land based utility-scale wind, which is one of the lowest priced energy sources leads to drive the growth of the market.
This report provides an all-inclusive environment of the analysis for the Global Wind Power Generators Market. The market estimates provided in the report are the result of in-depth secondary research, primary interviews and in-house expert reviews. These market estimates have been considered by studying the impact of various social, political and economic factors along with the current market dynamics affecting the Global Wind Power Generators Market growth.
Along with the market overview, which comprises of the market dynamics the chapter includes a Porter's Five Forces analysis which explains the five forces: namely buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in the Global Wind Power Generators Market. It explains the various participants, such as system integrators, intermediaries and end-users within the ecosystem of the market. The report also focuses on the competitive landscape of the Global Wind Power Generators Market.
Market Dynamics
Drivers
Restraints
Opportunities
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/m1ejxx
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Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Prevailion, a global leader in Compromise Breach MonitoringTM powered by counterintelligence, today announced the official launch of Omega, a new cybersecurity capability for enterprises and governments that exposes and validates previously undetected active malware compromises - including ransomware - across cloud deployments and remote workforce assets.
“As a growing remote workforce has fueled investment in cloud infrastructure, threat actors are using the ‘black box’ nature of these SaaS deployments to stay hidden from modern security tools and to proliferate ransomware and other attacks,” said Karim Hijazi, CEO of Prevailion. “The current methodology for monitoring and securing cloud workflows and remote workers paints an incomplete picture that limits an organization’s ability to improve its overall security posture and reduce its risk.”
Prevailion’s Omega technology addresses this fundamental visibility challenge in the cloud by accurately detecting malware that evades other security solutions. For the first time, security teams can now see beyond the cloud or ISP to track malware infections that leverage dynamic and obfuscated IP addressing. This rapid detection can successfully prevent the encryption stage of a ransomware attack from taking place, in addition to other significant events like data theft, even after an organization’s assets have already been infected.
Prevailion’s existing solutions are already unique in their approach to infiltrating and monitoring the attacker’s command-and-control (C2 or CnC) servers and communications to covertly expose malware infections from the threat actor’s point-of-view. They also do not require any physical presence or access to an organization’s network when helping to evaluate its immediate risk of damage or loss based on existing blind spots. This innovative approach empowers security teams to understand active risks and threats to their environments that have gone undetected and it allows them to continuously improve their security posture against future threats. In addition, Prevailion’s solutions can monitor existing or potential supply chain partners for changes in their security posture and provide visibility into an organization’s potential risk of a security incident.
Omega collects critical metadata from the malware payload, including:
-Victim IP address
-Destination IP address
-Port
-Protocol
-UUID
-UserAgent
-Username
-Password
-PC name
-OS type (Windows, macOS)
-C2 domain
-Malware type
-Threat actor
-Malicious beacon activity (total number and frequency)
Prevailion’s advanced solutions are powered by a global cloud-based sensor network, Prevailion’s Adversary Counterintelligence Team (PACT) and its unique command-and-control infiltration process. The ability to “follow” the malware from the attacker to the organization itself can provide an understanding of blind spots in current security coverage and an unprecedented level of insights into how and what the attacker is doing as part of its attack campaign. This type of malware visibility and validation is provided to security teams to reduce the time and effort it takes to identify the true nature and severity of the attack and accelerate immediate response to threats before full detonation.
For more details about how Prevailion’s Omega technology can help organizations accelerate their mean-time-to-detection (MTTD) and mean-time-to-response (MTTR), through greater visibility into active malware that stays hidden within an organization, visit: https://www.prevailion.com/omega-technology/
See an informative discussion between Jon Oltsik, Senior Principal Analyst & ESG Fellow ESG Research, and Prevailion’s Founder and CEO on “Using Counterintelligence to Monitor for Compromises and Accelerate Response” here: https://www.brighttalk.com/webcast/18938/499655.
ABOUT PREVAILION:
Prevailion is the world’s first Continuous Breach MonitoringTM company, transforming the way organizations approach compromise detection and breach prevention to drastically improve security operations. Through next-level tailored intelligence and a zero-touch platform, Prevailion provides a full view of confirmed “Evidence of Compromise'' (EOC) for customers and their partner ecosystems. Prevailion is funded by AllegisCyber Capital, DataTribe, Allstate Strategic Ventures, Legion Capital, Irongrey and Accenture Ventures. To learn more about Prevailion, visit www.prevailion.com.
Michael Sias
Firm 19 for Prevailion
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954-361-3963
HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that, on October 5, 2021, the Board of Directors of its general partner declared a distribution on Genesis’ common units and 8.75% Class A Convertible Preferred Units attributable to the quarter ended September 30, 2021. These distributions will be paid on November 12, 2021 to holders of record at the close of business on October 29, 2021.
Each holder of common units will be paid a quarterly cash distribution of $0.15 ($0.60 on an annualized basis) for each common unit held of record. With respect to the preferred units, Genesis will pay a cash distribution of $0.7374 ($2.9496 on an annualized basis) for each preferred unit held of record.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
OptaSense Products Deliver Clearer Picture of the Reservoir with Fiber-Optic
ROANOKE, Va.--(BUSINESS WIRE)--#Luna--Luna Innovations (NASDAQ: LUNA), a global leader in advanced optical technology, today announced a new production profiling capability based on Luna’s OptaSense fiber optic sensing products. The new capability is a result of the joint development and licensing of ConocoPhillips’ patented transient analysis technology in combination with Luna’s high-sensitivity, distributed temperature measurements.
The solution increases the accuracy of determining individual cluster oil production in unconventional wells and can be deployed with either permanent or temporary deployment options. This enables the identification of features in producing wells that are not easily detected by other temperature or acoustic sensing tools alone. Continuous refinement of the tools and increased deployment in the field is yielding an even clearer picture of producing conditions in various types of reservoirs.
“We are proud of our innovative and industry-enhancing relationship with ConocoPhillips to further expand the applications of fiber-optic technology in the Oil & Gas business worldwide,” said Luna’s President and CEO, Scott Graeff. “This collaboration provides us a key reservoir profiling solution that solidifies Luna’s position as the leader of fiber-based production monitoring services in the oil and gas market.”
Luna’s OptaSense products deliver a variety of technologies that provide analysis and answer products for completion and production optimization. Collaborations with industry partners like ConocoPhillips continue to grow not just the science but, more importantly, the commercialization of tools that are used to assess production in the most complex reservoirs.
About Luna
Luna Innovations (NASDAQ: LUNA) is a leader in optical technology, committed to serving its customers with unique capabilities in high-performance, fiber-optic-based sensing, measurement, testing and control products for the aerospace, transportation, infrastructure, security, process control, communications, silicon photonics, defense, and automotive industries, among others. Luna is organized into two business segments, which work closely together to turn ideas into products: Lightwave and Luna Labs. Enabling the future with fiber, Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market. www.lunainc.com
Forward Looking Statements
The statements in this release that are not historical facts constitute “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include Luna’s expectations regarding accuracy and technological capabilities and potential performance improvements, market position and value related to its technology and/or products. Management cautions the reader that these forward-looking statements are only predictions and are subject to a number of both known and unknown risks and uncertainties, and actual results, performance, and/or achievements of Luna may differ materially from the future results, performance, and/or achievements expressed or implied by these forward-looking statements as a result of a number of factors. These factors include, without limitation, changes in market needs and technological challenges and other risks and uncertainties set forth in Luna’s periodic reports and other filings with the Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov and on Luna’s website at www.lunainc.com. The statements made in this release are based on information available to Luna as of the date of this release and Luna undertakes no obligation to update any of the forward-looking statements after the date of this release.
Allison Woody
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DUBLIN--(BUSINESS WIRE)--The "Global Petrolatum Market Outlook to 2026" report has been added to ResearchAndMarkets.com's offering.
This report provides deep insight into the Industrial market's current and future state across various regions. The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.
Factors like the use of Petrolatum for the manufacturing of cosmetic items that are used as a moisturizer to treat or prevent dry, rashed, itchy skin and minor skin irritations are expected to drive the global Petrolatum market. Further, the use of Petrolatum in the personal care industry as a cream, gel, and lubricant is projected to drive the global Petrolatum market. Furthermore, the use of Petrolatum in the pharmaceutical industry to prevent diaper rash, skin burns from radiation therapy, and skin irritation is expected to drive the Petrolatum market further. The use of Petrolatum in the industries for metal protection and lubrication of machinery is projected to drive the global petrolatum market. However, the side effects like allergies, infections, and inflammations associated with the use of Petrolatum are estimated to restrain the growth of the global Petrolatum market.
Companies Mentioned
Petrolatum is used as an antifungal and antibacterial agent to manufacture thousands of personal care and cosmetic products, including creams, lotions, gels, lubricants, deodorants, perfumes, and other items, including pharmaceutical and industrial goods.
The Personal Care segment is the biggest consumer of Petrolatum and is projected to drive the global market. With the growing inclination of modern customers towards personal care and grooming, the demand for cosmetics and personal care products has increased rapidly, thus fueling demand for Petrolatum Internationally. The benefits of Petrolatum come from its main ingredient, i.e., petroleum, which prevents from external impact, forming a water-protective barrier making its use enhanced in the segment.The Procter & Gamble Company posted fiscal 2021 USD 76.1 Billion, a 7 percent year-on-year increase in net sales, showing the industry's growth despite the pandemic. Further, Unilever PLC, maker of Vaseline, posted a turnover of EUR 13.5 Billion and a total turnover of EUR 25.8 Billion for the first six months of 2021, showing the demand and growth of the industry. Emollients like Petrolatum are substances that soften and moisturize skin and decrease further itching and flaking by forming an oily layer on the edge of the skin, which hydrates the skin by trapping water between the layers.Johnson & Johnsonposted its second-quarter results of 2021, a 27.1% increase in reported sales to USD 23 Billion and a 73.1% increase in the net earnings. Therefore the use of Petrolatum in the Personal Care industry is expected to grow and drive the overall market in the future.
Asia-Pacific region is expected to be the leader in the production and consumption of Petrolatum, with most of the consumption in countries like China and India. The demand for personal care products, cosmetics, and pharmaceuticals is enormous in the region since more than half of the world's population lives there. The demand for the cosmetics industry is mainly driven by the rise in urbanization, continuous increase in online spending on beauty products, expansion of social networks, and the increase in consumer interest in new and premium products. Growing demand from the Asia-Pacific region for better products in the personal care, cosmetics, and pharmaceutical industries has made the Petrolatum a critical material for the region's growth. Further, the use of Petrolatum for the treatment of fungal infections, rashes, and chest colds as a pharmaceutical product is expected to drive the demand for Petrolatum in the region. Furthermore, industries such as marine, leather, telecommunications, and manufacturing require petrolatum for several applications where processes like rusting or water can cause severe damage to equipment and operations, therefore the use of petrolatum helps these industries to overcome challenges in an efficient manner driving the demand of Petrolatum in the region. Factors like these have made Asia-Pacific an essential region for growth in the Petrolatum market.
Key Topics Covered:
1. Executive Summary
2. Research Scope and Methodology
3. Market Analysis
4. Industry Analysis
5. Market Segmentation & Forecast
6. Regional Market Analysis
7. Key Company Profiles
8. Competitive Landscape
9. Conclusions and Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/e5vig6
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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New revenue stream highlights iSun’s continued execution of its strategic growth plan
WILLISTON, Vt.--(BUSINESS WIRE)--$isun #cleanenergy--iSun, Inc. (NASDAQ:ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50 years of construction experience in solar, electrical and data services, announced today that it has secured a $30 million commitment from Fusion Renewable (“Fusion”) for development and professional services.
Highlights
iSun continues to expand its industry leading portfolio of solar services and products. In April, iSun acquired the intellectual property of Oakwood Construction Services, enabling their entry into the rapidly growing solar development and professional services market. Unlike EPC services, development and professional services occur prior to the commencement of construction and are not contingent upon a project proceeding to construction status. Similarly, development and professional services enhance cash-flows and margins on a month-to-month basis.
The announcement marks both iSun and Fusion’s continued commitment to bring US solar projects to completion. Last month, iSun announced Fusion’s award of development and professional services work on 566MW of solar projects across eleven project sites in the United States. Per the terms of these contracts, iSun will perform development and professional services on projects acquired by Fusion at various pre-construction phases. Upon completion of the development and professional services, iSun will retain the rights for all construction services. The newly announced $30 million commitment includes approximately $8.25 million in previously executed contracts. The $30 million in new revenue stream is expected to be recognized over the next 12 months.
iSun’s 50-year history of providing high quality and innovative electrical contracting, solar, data and telecom services on a fully integrated basis helps it deliver projects on time and within budget. The Company’s often repeat client base includes leading institutions from the U.S. Federal Government, municipalities, universities, independent power producers, utilities, and Fortune 500 companies and financers.
Jeffrey Peck, iSun’s Chief Executive Officer, commented, “Following on a successful 2021 to date with Fusion, this commitment was a natural continuation of that relationship and is in line with iSun’s responsibility to help traditional energy companies expand their access to investments in renewable energy assets. The iSun story is built on repeat relationships like these, some spanning decades, that form the core of our business. Additionally, this progress is a testament to both the traction that our development and professional services business has gained in the market, and the size of the opportunity this market presents. We’re proud of the progress we’ve made since entering this market in April; we’re excited about this division’s prospects moving forward.”
About iSun Inc.
Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 450 megawatts of solar systems. The Company has provided solar EPC services across residential, commercial & industrial, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit http://www.isunenergy.com for additional information.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.
IR:
Tyler Barnes
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802-289-8141
SecurityGate.io adds more than 30 partners since announcing new partner program in June to meet the increased demand of digital transformation
HOUSTON--(BUSINESS WIRE)--#ITsecurity--SecurityGate.io, the risk management acceleration platform industrial companies use to improve cybersecurity faster, today announced their partner program’s rapid success with more than 30 partners registered since the program debuted in June.
Through the program, SecurityGate.io partners with consultants, MSPs, MSSPs and VARs to help them grow sales faster and build deeper client relationships. Additionally, the company has a strategic alliance program with companies such as Rumble, Darktrace, Nozomi Networks and Security Scorecard.
Three major trends have contributed to the growth of the company’s partner program:
Asset owners are seeking digital transformation
SecurityGate.io CEO Ted Gutierrez explains industrial companies want to digitize and visualize their cyber risk management programs, but there hasn’t been a tool focused on OT cybersecurity to do that effectively. Visualization of risk has always fallen upon the shoulders of consultants, who are used to creating spreadsheets and PowerPoints.
“Traditionally, consultants have filled that gap and now they see SecurityGate.io as an easier way to fill that gap rapidly and delightfully,” Gutierrez said.
Limited travel due to COVID-19
In addition to the push for digital transformation, COVID-19 has limited travel for people across all industries. This has made it difficult for consultants to perform on-site assessments and meet clients in person. The SecurityGate.io platform has appealed to security professionals as it allows them to complete cyber assessments remotely at a fraction of the effort with SaaS workflows and reporting automation.
Cyber risks continue to mature and escalate
Cyber-attacks have continued to increase in frequency and sophistication this year. This has caused more organizations to become aware of their own cyber risk management programs. Gutierrez said the combination of these three trends have been key factors in the success of SecurityGate.io’s partner program.
SecurityGate.io is continuing to grow their partner program, and Gutierrez said the company is making considerable investments to support their partners.
“I think we are at the very tip of the iceberg when it comes to enabling critical infrastructure sectors to see their cyber risks sooner.”
For more information about SecurityGate.io’s partner program, please visit https://securitygate.io/partner-program/.
About SecurityGate.io
SecurityGate.io is a Houston-based cybersecurity software company. Their risk management acceleration platform helps industrial companies discover cyber risks sooner and make cybersecurity improvements faster. This is done by replacing slow, manual risk management processes with digital SaaS automation, agile workflows, and data intelligence.
The company was recently included in Gartner’s 2021 Market Guide for Operational Technology Security and Takepoint Research’s 2021 Buyer’s Guide for Industrial Cybersecurity Technology and Solutions. SecurityGate.io serves customers such as Chevron, Modec, Westlake Chemical, Diamond Offshore, and Patterson UTI.
Taylor Petry
SecurityGate.io
832-314-5253
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Dan Chmielewski
Madison Alexander PR
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Research reveals the environmental dangers posed by diesel-fueled generator emissions threaten public health and create significant hurdles to achieving greenhouse gas reduction targets
SAN JOSE, Calif.--(BUSINESS WIRE)--New research by economic and public policy consulting group M.Cubed finds a proliferation of backup generators across California, with nearly 90 percent being diesel-fueled, posing significant obstacles to achieving greenhouse gas reduction targets and driving nearly $136 million in annual health costs.
Over the last year, the generator population jumped by 22 percent in the South Coast Air Quality Management District (SCAQMD), and by 34 percent in the Bay Area Air Quality Management District (BAAQMD) over the last three years. In 2021, the two districts were collectively home to 23,507 backup generators with a capacity of 12.2 gigawatts (GW), about 15 percent of California’s entire electricity grid. Of these, 20,907 are diesel-fueled.
Diesel generators release greenhouse gases, particulate matter (PM), volatile organic compounds (VOCs), nitrous oxides (NOx) and sulfur dioxide (SO2), harmful pollutants that create smog and exacerbate respiratory conditions.
The report concludes that diesel generators in the South Coast and Bay Area communities alone have 12.2 GW of generation capacity and produce roughly 20 metric tons (MT) of fine particulate matter, 62 MT of VOCs and almost 1,000 MT of haze-inducing NOx annually.
“We have long been concerned about the proliferation of diesel backup generators here in the Bay Area, as highlighted in this report,” said Jack Broadbent, executive officer of the Bay Area Air Quality Management District. “Emissions from these backup generators can harm local residents, regional air quality and the global climate. This is particularly true in communities already overburdened by air pollution and the Air District is actively pursuing regulations to curb this pollution.”
This pollution, in turn, may trigger upwards of $31.8 million in annual health costs in the Bay Area and $103.9 million in South Coast communities, due to increases in mortalities, heart attacks, hospital visits and other adverse consequences – particularly in vulnerable communities.
“This research began when I received a notice that a diesel-fueled generator was being sited near my daughter's high school,” said M.Cubed partner and lead researcher Steven Moss. “I never expected to find so many diesel-fueled generators operating in San Francisco and across the state of California, especially so close to where people live, work, and play. For a state leading in climate action, this growing reliance on diesel underscores a disconnect between how we're addressing grid reliability, long-term energy affordability, and the ongoing environmental consequences of diesel dependency.”
Diesel generators tend to be located close to where people live, work and attend school. Importantly, M.Cubed’s study highlights that many of these generators are in communities that the California Environmental Protection Agency identifies as “disadvantaged,” according to CalEnviroScreen. Considering environmental conditions and community members’ vulnerability to a degraded ecosystem, CalEnviroScreen is a method to evaluate multiple pollution sources in a geographically defined area that accounts for the population’s sensitivity to pollution’s adverse effects.
“It is concerning to see an increased reliance on diesel-fueled generators, particularly when nearly three-quarters of California voters support alternative, non-harmful energy solutions like fuel cells and more than half desire to see diesel generation reduced,” said Marisa Blackshire, senior director of environmental compliance, Bloom Energy. “We must embrace existing technologies that will make California’s grid cleaner and more resilient, rather than increasing the population of high-polluting power sources that will set us back in meeting crucial emission reduction goals.”
For example, in the South Coast, 47 percent of generators are in the most vulnerable communities, classified as being in CalEnviroScreen’s 80th to 100th percentile, with 33 percent above the 90th percentile.
“California’s growing dependence on diesel-fueled backup generators is a clear but alarming response to the state’s worsening wildfires and our efforts to manage them,” said Carl Guardino, executive vice president of government affairs and policy, Bloom Energy. “In addition to carbon emissions, diesel releases dangerous amounts of particulate matter, volatile organic compounds, nitrous oxides and sulfur dioxide. These pollutants create smog, which exacerbates respiratory conditions, such as asthma, chronic obstructive pulmonary disease, and lung cancer, especially in children and older adults.”
In California, diesel generators are individually permitted by each of the 35 air districts in which they are located, so data on the cumulative population is largely unavailable. Data from individual districts is not aggregated or reported at the state level, and backup generator usage data and permit renewals are self-reported by the operators themselves. As a result, this data remains largely hidden and subject to little regulatory scrutiny.
M.Cubed’s full report on the BAAQMD and SCAQMD records of diesel backup generators can be found here: https://www.bloomenergy.com/wp-content/uploads/diesel-back-up-generator-population-grows-rapidly.pdf
About M. Cubed
M.Cubed, founded in 1993, provides economic and public policy consulting services to public and private sector clients. Practice areas include water and energy utility resource planning and ratemaking, resource use efficiency and conservation measures, project impact analysis, regional economic modeling, natural resource allocation policies, and environmental plan preparation and review
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. Bloom’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.
Steve Moss
M. Cubed
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Bloom Energy
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Transaction to provide growth capital for Apex to meet heightened demand associated with the energy transition
CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--$ARES--Apex Clean Energy (“Apex”) and Ares Management Corporation (NYSE: ARES) (“Ares”) today announced that funds and other accounts managed by Ares’ Infrastructure and Power strategy have entered into an agreement to acquire a majority stake in Apex. The transaction will provide Apex with additional equity growth capital as it seeks to transition to a pure-play renewable energy independent power producer (IPP).
To date, Apex has commercialized more than $9 billion of utility-scale projects and has a leading and diversified clean energy portfolio with more than 30 GW in development. Apex has transacted with utilities, the commercial and industrial (C&I) market, and global financial institutions. Apex has been a leader in clean energy sales to the C&I market over the past decade.
Funds managed by Ares’ Infrastructure and Power strategy have transacted with Apex on numerous power projects, including the 525 MW Aviator Wind—the largest single-phase, single-site wind farm in the United States—the 302 MW Lincoln Land Wind, and the 121 MW Ford Ridge Wind.
“Apex and Ares are aligned on a common mission to accelerate the shift to clean energy,” said Mark Goodwin, President and CEO of Apex Clean Energy. “The energy transition has never been more urgent, and the opportunity presented by the industry’s momentum is both immediate and massive. Apex has grown over the past decade to meet this moment, and the infusion of growth capital provided by this agreement will allow the company to strengthen its leadership position in U.S. utility-scale clean energy development, operate projects as an IPP, and accelerate strategic expansion into energy storage, distributed energy resources, and green fuels.”
“There is a deep, long-standing relationship between Ares and Apex, which gives us great confidence and excitement about this opportunity,” said Keith Derman, Partner and Co-Head of Ares’ Infrastructure and Power strategy. “Apex has an industry-leading renewables business that positions our investors at the forefront of the energy transition in North America.”
“The transition to a low-carbon economy is the challenge of our lifetime and will require substantial capital investment and expertise,” said Steve Porto, Managing Director in Ares’ Infrastructure and Power strategy. “Apex is a leader in clean energy with a highly talented and experienced team. We’re thrilled to provide additional capital to support Apex in meeting this challenge.”
Apex’s existing management team will continue to lead the company. The agreement is subject to customary approvals and is expected to close prior to the end of 2021. Lazard served as lead financial advisor and CohnReznick Capital served as financial advisor to Apex, and Orrick, Herrington & Sutcliffe LLP served as outside counsel to Apex. Nomura Greentech served as financial advisor to Ares and Kirkland & Ellis LLP served as outside counsel to Ares on the transaction.
A consortium of co-investors, including the EGCO Group, Varma Mutual Pension Insurance Company, Clal Insurance & Finance, Menora Mivtachim Group, ST International Corporation, investors represented by Morgan Stanley Investment Management’s Portfolio Solutions Group, The Hartford, Poalim Equity, and IMM Investment Global are participating in this transaction through funds and other co-investment accounts managed by Ares.
About Apex Clean Energy
Apex Clean Energy was founded with a singular focus: to accelerate the shift to clean energy. Through origination, construction, and operation of utility-scale wind, solar, and storage facilities, distributed energy resources, and green fuel technologies, Apex is expanding the renewable frontier across North America. Our mission-driven team of more than 300 professionals uses a data-focused approach and an unrivaled portfolio of projects to create solutions for the world’s most innovative and forward-thinking customers. For more information about how Apex is building the energy company of the future, visit apexcleanenergy.com or follow us on Facebook, Twitter, and LinkedIn.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2021, including the acquisition of Black Creek Group which closed July 1, 2021, Ares Management Corporation's global platform had approximately $262 billion of assets under management, with approximately 2,000 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
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GumboNet to Help Company Streamline Supply Chain and Enhance Contract Management Between Norwegian Subsidiary of Exceed Energy and Energy Operator Customers
STAVANGER, Norway & HOUSTON--(BUSINESS WIRE)--#blockchain--Data Gumbo, the industrial smart contract network company, today announced that Exceed Norge, the Norwegian subsidiary of Exceed Energy — the world’s largest independent well management company, has adopted GumboNet to deploy smart contracts across the large and complex oil and gas projects it manages on behalf of its energy operators and their vendors.
“We are attracted to the promise of GumboNet because of its ability to guarantee accurate, on-time and automated invoicing and payments for our clients’ contractors working in some of the most difficult conditions in the world,” said Mike Simpson, Managing Director, Exceed Norge. “Management of vendor contracts is a core capability of our company, and smart contracts will better serve our operators’ needs and the vendors who meet those needs. The inherent trust and transactional certainty smart contracts deliver across commercial relationships opens up a new way to do business.”
Informational and transactional friction between counterparties contribute to excessive Days Sales Outstanding (DSO) with the average DSO in Europe between 20 to 35 days. Long invoicing cycles and billing challenges can be attributed to an overarching lack of transparency in supply chains, the necessity of multiple human checks and balances, and to payments based on estimates and accruals rather than real-time, accurate data.
GumboNet smart contracts deliver transactional certainty to commercial relationships, enabling counterparties to streamline operations and shorten long payment cycles. By providing a single immutable record of truth, GumboNet synchronizes data across parties for complete transparency to free up working capital, reduce contract leakage, enable real-time cash and financial management and capture provenance. The network is currently in use by Exceed Norge with a large energy operator and its counterparties, an oil and gas service company and drilling contractor, with plans for further implementation across the supply chain.
“Exceed Norge is in an optimal position in the energy supply chain for it and its customers to experience maximum benefits of our blockchain-powered smart contracts gained by automating the billing and invoicing process,” said Ove Sandve, Country Manager - Norway, Data Gumbo. “We pride ourselves on being an honest broker in commercial relationships, and this implementation of GumboNet provides Exceed Norge with a competitive advantage to enhance its contract management to experience transparency between parties, faster payment times and lower project costs.”
About Data Gumbo
Data Gumbo is the smart contract company trusted by global industrial enterprises. The only network of enterprises and their customers, suppliers and vendors that successfully incorporates real-time sensor level and field data to validate transactions, GumboNet™ reduces costs by more than 10% for all network members by automatically eliminating payment delays, disputes and complicated reconciliations.
To date, Data Gumbo has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco; Equinor Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator; and L37, a hybrid venture capital and private equity company. Data Gumbo is headquartered in Houston, Texas, with global offices in Stavanger, Norway, and London, UK. For more information, visit www.datagumbo.com or follow the company on LinkedIn, Twitter and Facebook.
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HOUSTON--(BUSINESS WIRE)--Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. residential solar and energy storage service provider, announced today it will release its third quarter 2021 results after the markets close on October 27, 2021, to be followed by a conference call to discuss the results at 8:30 a.m. Eastern Time on October 28, 2021.
The conference call can be accessed live over the phone by dialing 866-211-4135, or for international callers, 647-689-6729. A replay will be available two hours after the call and can be accessed by dialing 800-585-8367, or for international callers, 416-621-4642. The conference ID for the live call and the replay is 2122135. The replay will be available until November 4, 2021.
Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of Sunnova’s website at https://investors.sunnova.com.
About Sunnova
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Nuveen Installs First EVPassport Howard Level 2 19.2KW Chargers at Connecticut, Massachusetts and New Jersey Commercial Properties
BOSTON – BOMA International Conference--(BUSINESS WIRE)--EVPassport, the EV charging hardware and software platform for purpose-driven organizations, today announced that Nuveen Real Estate, one of the largest real estate investment managers globally with $139 billion of assets under management, is installing EVPassport chargers on portfolio properties to provide a frictionless charging experience and strengthen property engagement.
Nuveen is installing its first EVPassport chargers, the Howard L2 19.2KW charger, which provides the fastest Level 2 EV charging experience in the United States, at 20 Westport Road, Wilton, CT; 600-650 College Road, Princeton, NJ; and 501 Boylston Street, Boston, MA.
"Nuveen is at the forefront of innovation when it comes to tenant experience,” said Hooman Shahidi, President, EVPassport. “We are excited by their vision for EV charging with EVPassport and look forward to playing a key role in advancing property engagement and sustainability goals."
Nuveen selected EVPassport for its ability to provide short-stay visitors and all-day tenants with Nuveen-branded Howard L2 chargers and a frictionless charging experience built around the ability to scan a QR code, pay and go. Open APIs enable integrations with popular services like Google Maps and Apple Pay, allowing drivers to see charger locations and click directly through to start a charging session without having to download an additional app or create a separate provider account.
EVPassport’s robust APIs allow Nuveen to integrate live EVPassport chargers directly into existing tenant software platforms, providing a branded charging experience that is compatible with any vehicle.
“We are committed to providing innovative environments that can be tailored to any tenant’s needs, so partnering with EVPassport to deploy charging stations on our properties was an easy choice, given their open APIs and universal availability,” said Ines Olesen, Director of New York Investments and Head of Dispositions, Office and Life Science, Americas at Nuveen. “EVPassport will be instrumental in helping us deliver a sophisticated workplace experience to our tenants.”
About EVPassport
EVPassport is the EV charging hardware and software platform for purpose-driven organizations. Brands committed to sustainability rely on EVPassport to provide their customers with the most seamless payment experience to charge any electric vehicle without requiring a separate app, account or a top-up balance. And EVPassport is the only platform that enhances customer engagement for these companies by providing custom branded hardware with API-powered software that easily integrates with their existing applications and services. For more information, follow EVPassport on Twitter (@EVPassport), Instagram (@EVPassport) and LinkedIn, or visit www.EVPassport.com.
Media:
Jake Schuster
fama PR for EVPassport
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