New financing supports SHINE’s commercialization of diagnostic and therapeutic isotope technologies, positions company for growth in development of new fusion-based technologies
JANESVILLE, Wis.--(BUSINESS WIRE)--#clean--SHINE Medical Technologies LLC today announced that it has closed a $150-million Series C-5 financing. Koch Disruptive Technologies (KDT) led the round, which also included participation by Fidelity Management & Research Company, Baillie Gifford and other new and current investors. The financing will support SHINE’s commercialization of its diagnostic and therapeutic medical isotope technologies and position the company for future growth as it works toward developing new fusion-based technology applications.
“KDT is an incredible strategic partner for SHINE as we commercialize both diagnostic and therapeutic medical isotopes, and work towards fusion-based nuclear waste recycling and clean energy production,” said Greg Piefer, Chairman and CEO of SHINE. “Koch knows how to scale a company, with more than 120,000 employees around the world, and we look forward to tapping that knowledge as we continue to grow. SHINE’s mission is to usher in a new era of nuclear fusion technology and Koch, which is among the biggest players in energy, is a great long-term, strategic match for us as we pursue our ultimate goal: fusion-based clean energy. We are grateful for their confidence and investment in SHINE.”
“SHINE’s innovative medical isotope technologies, which play a crucial role in identifying and treating patients with debilitating diseases, are astounding,” said Chase Koch, President of KDT. “We believe SHINE has the potential to change not only the production and supply of medical isotopes, but to transform industrial segments globally by leveraging the company’s nuclear-fusion based technology for industrial inspection and imaging, nuclear waste recycling and energy production. Koch’s global knowledge networks and capabilities are uniquely suited to help SHINE’s impressive team implement its vision to advance fusion technology. We look forward to a productive partnership.”
An existing SHINE facility produces the therapeutic medical isotope lutetitum-177 (Lu-177). Radiotherapeutics are one of the fastest growing areas of oncology and has significant potential for the treatment of several cancers because of their ability to directly irradiate cancer including at the late stages. SHINE’s manufacturing process can produce high-specific-activity Lu-177, the form of the isotope most in demand by today’s clinical trial sponsors. Last December, SHINE also broke ground for a large-scale therapeutic isotope plant, which is expected to be operational in mid-2022 and will produce Lu-177.
SHINE is also constructing a U.S. fusion-based medical isotope production facility in Janesville, Wisconsin, to produce molybdenum-99 (Mo-99), which more than 40 million patient procedures rely on each year. There has been little production of Mo-99 in the United States for decades – contributing to chronic shortages of the isotope – and this production facility will be capable of supplying more than one-third of the global demand for Mo-99. SHINE announced in May a location for its new European medical isotope production facility, which when combined with the capacity of SHINE’s U.S. plant will give the company the ability to produce 70 percent of the global patient need for Mo-99. The production facility will be driven by nuclear fusion technology that does not require a reactor and is cleaner, safer and more sustainable than a nuclear research reactor.
“SHINE is grateful for the confidence of our world-class investor syndicate and the ongoing support of our early-stage investors,” said Todd Asmuth, SHINE’s President and Chief Strategy Officer. “The support of our institutional and individual investors and local, state and federal partners ensures that SHINE can fully execute its medical isotope plans by building multiple facilities and improving the lives of people around the world. As we bring these production facilities online, we will move into nuclear waste recycling and clean energy production, the next two phases of our plan. By doing so, we will continue to build long-term value for our stakeholders, including our customers, physicians and their patients, our employees and our shareholders.”
About SHINE Medical Technologies
SHINE is a nuclear technology company committed to improving the lives of people and the planet. The company is focusing its fusion-based technology initially on advanced industrial imaging and the production of diagnostic and therapeutic isotopes. These isotopes include molybdenum-99, a diagnostic isotope used to diagnose heart disease, cancer, and other conditions, and lutetium-177, a therapeutic isotope that holds the promise of significantly improving the outcome of some cancer patients. SHINE has a long-term strategy to solve some of humanity’s biggest problems, including nuclear waste recycling and the production of clean fusion energy, in addition to advanced industrial imaging and medical isotopes, by pursuing our vision for progressively broad and impactful uses of fusion technology. For more information about SHINE, please visit our website at www.shinemed.com.
About Koch Disruptive Technologies
Koch Disruptive Technologies (KDT) is a unique investment firm, focused on empowering founders to create a could-be world. KDT provides a flexible, multi-stage investment approach which includes both traditional venture and growth stages. We work with principled entrepreneurs who are building transformative companies, disrupting the status quo, and creating new platforms. KDT is a subsidiary of Koch Industries, one of the largest privately held companies in the world with $115 billion in revenue and operating in more than 70 countries. KDT helps its partners unlock their full potential by bringing Koch’s capabilities and network to them, structuring unique capital solutions, and embracing a long-term, mutual benefit mindset. For more information, visit www.kochdisrupt.com.
Rod Hise
Senior Manager, Corporate Communications
608-530-5659 direct, 608-770-7850 mobile
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MUNICH & HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR), an energy technology company, has announced an investment in Electrochaea, a growth stage company developing novel proprietary bio-methanation technology. Through its investment, Baker Hughes will enhance its broader carbon capture and utilization (CCU) portfolio and provide an integrated solution for customers across the carbon dioxide (CO2) value chain to enable the production of low carbon synthetic natural gas (SNG) from captured CO2 and green hydrogen, helping meet demand for cleaner fuels to advance the energy transition.
The Electrochaea bio-methanation process is an accessible, highly-efficient, scalable and complementary technology to the Baker Hughes CCU portfolio. The two companies will join efforts to accelerate the scale up and industrialization of the technology, and they will develop the commercialization of an innovative integrated carbon capture and utilization solution. Once commercialized, the solution will provide to customers a unique ability to transform CO2 emissions into clean SNG.
Baker Hughes will draw from its portfolio of carbon capture technologies, including its Compact Carbon Capture design, to provide integrated solutions tailored to specific applications utilizing both CO2 sources with biogenic origin, such as biomass and waste-to-energy plants, as well as sources based on combustion of fossil fuels, such as industrial plants.
“The combination of these technologies provides an integrated method to decarbonize hard to abate sectors such as road transportation and heating”, said Rod Christie, executive vice president of Turbomachinery & Process Solutions at Baker Hughes. “This agreement is another deliberate step in our strategy to position Baker Hughes for new energy frontiers like CCU by investing in emerging technologies and combining them with our own proven capabilities. Together, we can develop and scale faster, providing integrated solutions that can effectively decarbonize a range of industries.”
“Delivering synthetic natural gas at grid scale would be a remarkable development for energy consumers,” added Mich Hein, CEO of Electrochaea. “By combining Baker Hughes’ carbon capture technology process with biomethanation, customers could potentially deploy large scale plants to reduce the carbon impact of existing gas infrastructure. We look forward to working with Baker Hughes to scale up this promising new solution.”
SNG is methane that originates from a synthesis process that starts from carbon and hydrogen feedstock. Compared to renewable natural gas (RNG) and bio-methane - which have biological origin - or fossil based natural gas, SNG re-utilizes CO2 that would be otherwise emitted into the atmosphere, thus contributing to significantly mitigating greenhouse gas emissions.
Electrochaea’s technology produces SNG from green hydrogen and CO2 that can come from a variety of sources, such as biogas, fermentation off-gas or captured from single point emitters such as power and industrial plants. SNG can be used for low-carbon heating, transport and industrial applications. In addition, once SNG is injected into existing natural gas pipelines, it can be used as a form of energy storage.
Along with the lead investor Baker Hughes, the existing investors MVP, Storengy (an ENGIE subsidiary), KfW, Caliza, Focus First, Energie 360°, and btov also participated in Electrocheaea’s latest financing round. Baker Hughes will take an approximately 15% stake in Electrochaea to help advance new project development and commercialization. Baker Hughes will also assume a seat on Electrochaea’s Board of Directors.
About Baker Hughes:
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
About Electrochaea:
Electrochaea delivers a technology to produce renewable methane, a drop-in fuel for natural gas, that can be stored and transported in the existing gas grid. Electrochaea’s patented process addresses the climate challenge by utilizing CO2, producing a renewable fuel, and providing a solution for long-term storage of intermittent renewable energy. The company is planning to deploy its technology with partners to produce more than 15 billion cubic feet per year of renewable SNG by 2025. Industrial-scale pilot plants have operated in the U.S., Switzerland and Denmark. Electrochaea is headquartered in Munich, Germany, with subsidiaries in Denmark and the U.S. Visit us at www.electrochaea.com.
For Baker Hughes:
Media Relations
Helen Roberts
+44 (0)7557 812474
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Investor Relations
Jud Bailey
+1 281-809-9088
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For Electrochaea Media Relations:
Maria Beschid
Communications Manager
Electrochaea GmbH
Semmelweisstrasse 3
82152 Planegg
Germany
+49 (0) 89 / 32 49 367-34
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NEW YORK--(BUSINESS WIRE)--Falcon Minerals Corporation (“Falcon,” or the “Company,” “we,” “our,”) (NASDAQ: FLMN, FLMNW), a leading oil and gas minerals company, announces the appointment of Bryan C. Gunderson as President and Chief Executive Officer and the departure of Daniel C. Herz, former President and Chief Executive Officer. Mr. Gunderson’s appointment and Mr. Herz’s departure are both effective immediately. Mr. Gunderson has also been appointed to the Board of Directors (the “Board”) to fill the vacancy created by Mr. Herz’s resignation.
Falcon’s Board of Directors has also hired Matthew B. Ockwood to serve as Chief Financial Officer. Mr. Ockwood joins Falcon as an experienced oil and gas investor, most recently serving as a Managing Director and member of the investment committee for Chambers Energy Capital.
Board and Management Statement
Claire R. Harvey, Chairman of Falcon’s Board of Directors, commented, “We are grateful to Daniel for the leadership, vision, and loyalty he has provided Falcon since the formation of the Company and we wish him all the best in his future endeavors. Bryan has served as Falcon’s Chief Financial Officer for over two years and brings a wealth of experience to his new role. We are delighted that he has agreed to lead the Company, and we are confident that Bryan is the ideal person to execute on Falcon’s strategic path forward.” Ms. Harvey continued saying, “Matt is a proven investor in the oil and gas industry and is a strong addition to the Falcon team.”
Mr. Herz, Falcon’s outgoing Chief Executive Officer, said, “Having successfully navigated through the last year and a half, and with Falcon positioned for continued growth and success, now is the right time for me to move on to pursue a new chapter. I am proud of the great Company and team we have built, and I look forward to rooting Bryan and the entire Falcon team on as they continue to move the business forward.”
Mr. Gunderson commented, “I am grateful to the Board for the opportunity to further serve Falcon and our shareholders. We have the assets, balance sheet, and team to succeed and we are poised to thrive with the improving market backdrop. I am looking forward to working with Matt in his new role and I want to thank Daniel personally for his mentorship and guidance during my tenure as Chief Financial Officer.”
About Falcon Minerals
Falcon Minerals Corporation (NASDAQ: FLMN, FLMNW) is a C-Corporation formed to own and acquire high growth oil-weighted mineral rights. Falcon Minerals owns mineral, royalty, and over-riding royalty interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas. The Company also owns approximately 80,000 gross unit acres in the Marcellus Shale across Pennsylvania, Ohio, and West Virginia. For more information, visit our website at www.falconminerals.com.
Cautionary Note Regarding Forward-Looking Statements
This document contains forward-looking statements that involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Falcon cautions readers not to place any undue reliance on these forward-looking statements as forward-looking information is not a guarantee of future performance. Such forward looking statements include, but are not limited to, statements about future financial and operating results, future dividends paid, the tax treatment of dividends paid, Falcon’s plans, initiatives, objectives, expectations and intentions and other statements that are not historical facts. Risks, assumptions and uncertainties that could cause actual results to materially differ from the forward-looking statements include, but are not limited to, those associated with general economic and business conditions; the COVID-19 pandemic and its impact on Falcon and on the oil and gas industry as a whole; Falcon’s ability to realize the anticipated benefits of its acquisitions; changes in commodity prices; uncertainties about estimates of reserves and resource potential; inability to obtain capital needed for operations; Falcon’s ability to meet financial covenants under its credit agreement or its ability to obtain amendments or waivers to effect such compliance; changes in government environmental policies and other environmental risks; the availability of drilling equipment and the timing of production in Falcon’s regions; tax consequences of business transactions; and other risks, assumptions and uncertainties detailed from time to time in Falcon’s reports filed with the U.S. Securities and Exchange Commission, including under the heading “Risk Factors” in Falcon’s most recent annual report on Form 10-K as well as any subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K. Forward looking statements speak only as of the date hereof, and Falcon assumes no obligation to update such statements, except as may be required by applicable law.
Falcon Minerals:
Jeff Brotman
Chief Legal Officer
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Modernized Mobile Workforce Management Platform increases Louisville Water’s Work Order Throughput by 23 percent
SUNNYVALE, Calif.--(BUSINESS WIRE)--Louisville Water Company, a valued customer of KloudGin, recently noted the benefits they’ve experienced in utilizing KloudGin’s work management platform as part of their ambitious multi year plan to overhaul customer service by embracing technology while overall modernizing the water provider and maintaining reliability.
KloudGin’s work management platform provides Louisville Water with increased worker and operational efficiency, automated processes, visibility into asset management and superior customer service. The system allows Louisville Water to provide employees with cross-application analytics that support process improvement, error prevention, and provide a better employee experience, while working with other systems to ensure resources are nimble enough to address emergency situations.
Workforce Mobility Strategy Puts Data at a Crew’s Fingertips
“This implementation was the largest technology project in Louisville Water’s history,” Louisville Water Executive Vice President of Customer Service Dave Vogel said. “These simple benefits mean we can better serve our customers.”
“Our new scheduling and field mobile solution, which replaced our old system in just 10 weeks, has significantly improved our ability to respond to field incidents by enabling users to capture current valve status at the time of an incident,” said Obe Everett, director of program management and business systems support.
Through KloudGin integration with the utilities’ digital systems, Louisville Water has:
A full analysis by Louisville Water of their data-driven asset overhaul and the extreme efficiency benefits they’ve seen by using KloudGin is available now in a cover story in WaterWorld.
About KloudGin, Inc.
KloudGin is the only SaaS combined one-cloud industry-focused mobile field service, work and asset management solution that eliminates silos, automates work management processes, enables customer self-service, and increases worker productivity. KloudGin applications help operations develop new revenue streams and business models. Serving companies with complex asset management and field service requirements, KloudGin connects customers, employees, sub-contractors and assets with AI-powered access to information on any device. Visit www.kloudgin.com.
James Strohecker
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415-519-8103
HOUSTON--(BUSINESS WIRE)--USD Partners LP (NYSE:USDP) (“USDP” or the “Partnership”) announced today that the Partnership has entered into a Terminal Services Agreement with USD Clean Fuels LLC (“USDCF”), a newly-formed subsidiary of US Development Group, LLC (“USDG”). The Terminal Services Agreement provides for the inbound shipment of renewable diesel on rail and the outbound shipment of the product on tank trucks to local consumers. The agreement has an initial term of five years with a target commencement date of December 1, 2021, and is supported by a minimum throughput commitment to USDCF from an investment-grade rated, refining customer as well as a performance guaranty from USDG.
“We are excited to announce this very accretive opportunity at the Partnership. This opportunity is incremental to our existing ethanol business at West Colton and is projected to generate additional Adjusted EBITDA of approximately $2.0 million per year at the Partnership over the five-year term,” said Adam Altsuler, the Partnership’s Chief Financial Officer. “Total capital associated with the opportunity is approximately $1.8 million, which we intend to fund from cash flows from operations.”
USDCF is a newly-created entity formed by USDG, the Partnership’s sponsor, to focus on providing production and logistics solutions to the growing market for clean energy transportation fuels.
“USDG has created USD Clean Fuels in response to a structural shift in demand associated with decarbonizing the transportation fuels sector,” said Brad Sanders, Executive Vice President and Chief Commercial Officer for USDG. “We believe our assets, capabilities and vision are ideally suited to serve our customers’ growth plans in clean fuels in terms of both geography and product offering (renewable diesel, sustainable aviation fuel, etc.). We are thrilled to be able to bring cleaner and sustainable industry solutions to California fuel markets, and we look forward to more announcements in the future as the industry and clean fuels markets continue to evolve.”
In connection with the execution of the Terminal Services Agreement, the Partnership entered into a Marketing Agreement with USDCF granting USDCF the right to market and develop renewable diesel growth projects at the West Colton terminal. Additionally, USDG entered into to an amended and restated Omnibus Agreement with the Partnership to extend the term of the Partnership’s right of first offer on any midstream infrastructure assets that the sponsor may develop, construct, or acquire, which would include any renewable diesel growth projects at the West Colton Terminal, for an additional five years, subject to certain conditions. The Partnership’s right of first offer was otherwise set to expire in October of 2021.
About USD Partners LP
USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC (“USD”) to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies, refiners and marketers. The Partnership’s principal assets include a network of crude oil terminals that facilitate the transportation of heavy crude oil from Western Canada to key demand centers across North America. The Partnership’s operations include railcar loading and unloading, storage and blending in on-site tanks, inbound and outbound pipeline connectivity, truck transloading, as well as other related logistics services. In addition, the Partnership provides customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons and biofuels by rail.
US Development Group, LLC, which owns the general partner of USD Partners LP, is engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America. USDG solutions create flexible market access for customers in significant growth areas and key demand centers, including Western Canada, the U.S. Gulf Coast and Mexico. Among other projects, USDG, along with its partner Gibson Energy, Inc., is pursuing long-term solutions to transport heavier grades of crude oil produced in Western Canada through the construction of a Diluent Recovery Unit at the Hardisty terminal. USDG is also currently pursuing the development of a premier energy logistics terminal on the Houston Ship Channel with capacity for substantial tank storage, multiple docks (including barge and deepwater), inbound and outbound pipeline connectivity, as well as a rail terminal with unit train capabilities. For additional information, please visit texasdeepwater.com. Information on websites referenced in this release is not part of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including statements with respect to the ability of the Partnership, USDG and USDCF to generate future Adjusted EBITDA; amount and timing of future capital expenditure; business prospects of USDCF; and the ability of the Partnership, USDG and USDCF to develop future additional projects and expansion opportunities and whether those projects and opportunities developed by USDCF would be owned by USDCF and whether they would be subject to the Partnership’s right of first offer. Words and phrases such as “plans,” “expects,” “will,” “would,” “believes,” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to the Partnership are based on management’s expectations, estimates and projections about the Partnership, its interests and the energy industry in general on the date this press release was issued. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include the impact of the novel coronavirus (COVID-19) pandemic and related economic downturn and changes in general economic conditions and commodity prices, as well as those factors set forth under the heading “Risk Factors” and elsewhere in the Partnership’s most recent Annual Report on Form 10-K and in the Partnership’s subsequent filings with the Securities and Exchange Commission (many of which may be amplified by the COVID-19 pandemic and the significant reductions in demand for, and fluctuations in the prices of, crude oil, natural gas and natural gas liquids). The Partnership is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Category: Operations
Adam Altsuler, (281) 291-3995
Executive Vice President, Chief Financial Officer
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Jennifer Waller, (832) 991-8383
Director, Financial Reporting & Investor Relations
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VANCOUVER, British Columbia--(BUSINESS WIRE)--Ahead of the company’s upcoming Investor Day, Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell-based solutions, reports that the pilot transit bus fleet of Skywell New Energy Vehicles Group (Skywell) in Nanjing, China has now been fully operational for 45 days and has already accumulated 75,000 kilometers of in-service operations. Loop’s company management will share additional details about the fleet deployment and other business achievements for the Company during its Investor Day on Tuesday, June 29 at 10:00 a.m. PDT (1:00 p.m. EDT).
Loop Energy announced in April the fulfillment of a ten-unit order of the company’s proprietary eFlow® fuel cell modules from Beijing IN-Power for integration by Skywell. This marked the second phase milestone of a memorandum of understanding between the Lishui Economic Development Zone of Nanjing and Beijing IN-Power—Loop Energy’s China-based joint venture partner supplying the fuel cell engines.
“As we progress toward large-scale commercial deployment of hydrogen fuel cell vehicles in China, these impressive operational results demonstrate Skywell’s expertise, Loop’s product maturity, and the market’s accelerating adoption of hydrogen fuel cell technology,” said Ben Nyland, President and Chief Executive Officer of Loop Energy. “We are very pleased to see the strong results of our eFlow technology on the road, which continues to validate Loop’s unique value proposition of greater fuel efficiency, higher power, and extended range.”
“This pilot fleet deployment has gone exceptionally well and is setting the stage for continued success between Loop Energy and IN-Power as we continue to collaborate with Skywell to advance the fuel cell market in China,” said John Zhang, Founder and President of IN-Power.
“The Loop fuel cell systems are performing very well, and we are impressed with the quality of the product,” said Ms. Zou Ran (Joanna), Director of External Affairs & Brand of Skywell New Energy Vehicles Group. “The support of the IN-Power and Loop teams has been critical in achieving the rapid deployment of this pilot fleet and represents a major step towards reaching the objective of implementing similar fuel cell solutions across a wide range of our specialty and commercial vehicles.”
“We are extremely pleased with the successful operation of these zero-emission hydrogen electric buses,” said Mr. Cuichangong, Deputy Secretary of Party Work Committee of the Lishui Economic Development Zone. “This is another meaningful step in establishing the Lishui Economic Development Zone of Nanjing as a fuel cell and hydrogen centre of excellence in China and reaffirms our commitment to providing safe, reliable, energy-efficient transportation throughout the district.”
To learn more about the Skywell fleet deployment and performance, register to attend Loop Energy’s Investor Day video conference call at investors.loopenergy.com.
About Beijing IN-Power Electric Co., Ltd.
Founded in 2004, Beijing IN-Power is a high-tech Sino-foreign joint venture enterprise, headquartered in the High-tech Industrial Park, Zhongguancun, of Beijing. Through IN-Power’s two R&D Centers, and four wholly-owned subsidiaries and twenty-five offices all over China, the company is engaged in the development, manufacturing and integration of new energy and power electronics technology, equipment and engineering services. For more information, please visit http://en.in-power.net/.
About Skywell New Energy Vehicles Corp.
Skywell New Energy Vehicles Corp., formed in 2011 following the acquisition of Nanjing Jinlong Bus Manufacturing Co., is a leading developer and global supplier of electric vehicles. With headquarters located in the Lishui Airport Economic Development Zone in Nanjing, China, with production factories located in Wuhan, Shenzhen and Xianyang, Skywell manufactures and markets an extensive range of sustainable vehicles from light-duty automobiles, to medium and heavy-duty buses, commercial and specialty fleet trucks. The company also operates buses in the Lishui district of China. www.skywellcorp.com
About Loop Energy Inc.
Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including, light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop’s products feature the Company’s proprietary eFlow™ technology in the fuel cell stack’s bipolar plates. eFlow™ was designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflect management’s current expectations regarding future events. Forward‐looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the ability of the Company to execute on its strategy and the factors discussed under “Risk Factors” in the final long-form prospectus of the Company dated February 18, 2021. Loop disclaims any obligation to update these forward-looking statements.
Loop Energy Media Contact: Ashley Eisner | Tel: +1.212.697.2600 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Loop Energy Business Contact: George Rubin | Tel: +1.604.828.8185 | This email address is being protected from spambots. You need JavaScript enabled to view it.
NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products announced today that INSW CFO Jeff Pribor has been invited to present at Future of Shipping Virtual Conference, presented by Maxim Group LLC and hosted by M-Vest, on Tuesday June 29th, 2021.
Mr. Pribor will participate in a panel discussion led by Tate Sullivan, Maxim Group’s Senior Research Analyst covering Industrials, along with other shipping industry professionals.
On June 29th, 2021, Maxim Group and M-Vest will host a “Future of Shipping” Virtual Conference. This conference will feature roundtable/panel discussions with company executives in the Dry Bulk, Tanker, Container and Gas sectors of the shipping industry. As the world transitions to the next cycle of international trading activity, executives will discuss any recent industry developments and the overall demand and supply trends in various shipping markets. To attend, just sign up to become an M-Vest member, and stay tuned for more updates!
Click Here to Reserve your seat
Panels
Dry Bulk Shipping: Future Demand For Cargoes and Longer Contracts (9:00AM - 10:00AM ET)
SEANERGY MARITIME HOLDINGS CORP. (SHIP)
Tanker Industry Update: Future Vessel Supply and Industry Trends (10:30AM - 11:30AM ET)
ARDMORE SHIPPING CORP. (ASC)
INTERNATIONAL SEAWAYS INC. (INSW)
PERFORMANCE SHIPPING INC. (PSHG)
TOP SHIPS INC. (TOPS)
Containership Demand: Global Supply Chain Ramifications (12:00PM - 1:00PM ET)
CAPITAL PRODUCT PARTNERS L.P. (CPLP)
GLOBAL SHIP LEASE, INC. (GSL)
Gas Shipping: Future Trends in LPG and LNG Ocean Transportation (1:30PM - 2:30PM ET)
DORIAN LPG LIMITED (LPG)
GASLOG LIMITED (GLOG)
About International Seaways, Inc.
International Seaways, Inc. (NYSE: INSW) is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 36 vessels, including 11 VLCCs, two Suezmaxes, four Aframaxes/LR2s, 13 Panamaxes/LR1s and 4 MR tankers. Through joint ventures, it has ownership interests in two floating storage and offloading service vessels. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY. Additional information is available at https://www.intlseas.com.
Forward-Looking Statements
This release contains forward-looking statements. In addition, the Company may make or approve certain statements in future filings with the Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of the Company. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate to the Company’s planned merger with Diamond S and plans to issue dividends, its prospects, including statements regarding vessel acquisitions, trends in the tanker markets, and possibilities of strategic alliances and investments. Forward-looking statements are based on the Company’s current plans, estimates and projections, and are subject to change based on a number of factors. Investors should carefully consider the risk factors outlined in more detail in the Annual Report on Form 10-K for 2020 for the Company, the Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, the Company’s Registration Statement on Form S-4 dated May 5, 2021, the Company’s Amended Registration Statement on Form S-4 dated June 4, 2021, and in similar sections of other filings made by the Company with the SEC from time to time. The Company assumes no obligation to update or revise any forward-looking statements. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by the Company with the SEC.
Investor Relations & Media Contact:
David Siever, International Seaways, Inc.
(212) 578-1635
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Report and checklist provide data compromise mitigation strategies for financial services industry
SEATTLE--(BUSINESS WIRE)--The Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining standards, certifications, and best practices to help ensure a secure cloud computing environment, today released the Hyperledger Fabric 2.0 Architecture Security Report and accompanying Security Controls Checklist, the latest research from the CSA Blockchain/Distributed Ledger working group. The report and checklist, which align with NIST Cybersecurity Framework’s Controls, seek to help security and risk management leaders and regulators in the financial industry mitigate the negative consequences surrounding a data breach, which could result in the loss of trade, ownership, and trust between business stakeholders.
“Hyperledger Fabric 2.0 has rapidly seen more than 50-percent adoption among the top financial services companies, making it a key component of the industry’s infrastructure. This seminal report is crucial in understanding the risks inherent in Hyperledger architecture, and providing both new and experienced users a straightforward way to address those risks while balancing security and business needs,” said Bill Izzo, Chair of the Blockchain/DLT Working Group.
The researchers, led by Urmila Nagvekar, one of the paper’s co-authors, performed a detailed security review of Hyperledger Fabric 2.0’s architecture in a permissioned environment to identify architectural weaknesses as applied to the financial services industry and recommend security countermeasures to mitigate them. The researchers first identified Fabric 2.0’s architectural risks to cybersecurity attributes (privacy, confidentiality, integrity, availability) when implemented as a permissioned blockchain enterprise network for a trade finance use case in a cloud-based environment, and delivered a fully implementable “Security Controls Checklist” aligned with NIST Cybersecurity Framework’s Controls 2 to proactively prevent, detect, and respond to the identified risks thus mitigating the business impacts downstream to the trade finance business workflow.
Hyperledger Fabric 2.0 was specifically evaluated against Microsoft’s “STRIDE” Threat Modeling Methodology (Shostack, 2014) and Gartner’s Blockchain Security Model (Gartner, 2018), for vulnerabilities that have been the root cause of prior business execution compromises in non-Fabric blockchain environments. Specifically, the Fabric 2.0 architecture was evaluated for compromise to the confidentiality and privacy of both the trade finance business logic, as well as the transaction and its payload and for weaknesses in its operational semantics. The analysis was undertaken to confirm that trade finance business logic embedded within smart contracts can’t be manipulated by adversaries during execution to gain financial advantage.
The group determined that Hyperledger Fabric 2.0’s security architecture was natively secure by both design and default when it came to trade finance business logic and payload confidentiality and privacy. Moreover, it was also robust in preventing adversaries from manipulating trade finance’s business logic during execution.
The group went on to perform threat modeling finding numerous potential threats with a HIGH risk, likelihood and impact rating, across the cybersecurity functional areas, including end device and server security, identity and access management, consensus security, application security, peer security, and data privacy and cryptography. The report details threat mitigation strategy recommendations addressing these areas.
"Hyperledger Fabric is powering significant innovation in enterprise blockchain and has seen keen uptake across a number of market segments, including financial services," said Brian Behlendorf, Executive Director, Hyperledger and Managing Director for Blockchain, Healthcare and Identity at the Linux Foundation. "We commend the CSA for undertaking this work to help users understand the security of the Hyperledger Fabric architecture, test it against industry-standard security models, and provide insights into what users need to consider in their own implementations. It is this kind of work that will further trust in distributed systems, and therefore faster adoption."
The Blockchain/Distributed Ledger working group works to produce useful content to educate different industries on blockchain and its proper use, as well as define blockchain security and compliance requirements based upon different industries and use cases. Individuals interested in becoming involved in Blockchain/Distributed Ledger future research and initiatives are invited to join the working group.
The paper is available at no charge. Learn more about these documents and their use in this pre-recorded webinar or download the full Hyperledger Fabric 2.0 Architecture Security Report.
About Cloud Security Alliance
The Cloud Security Alliance (CSA) is the world’s leading organization dedicated to defining and raising awareness of best practices to help ensure a secure cloud computing environment. CSA harnesses the subject matter expertise of industry practitioners, associations, governments, and its corporate and individual members to offer cloud security-specific research, education, training, certification, events, and products. CSA's activities, knowledge, and extensive network benefit the entire community impacted by cloud — from providers and customers to governments, entrepreneurs, and the assurance industry — and provide a forum through which different parties can work together to create and maintain a trusted cloud ecosystem. For further information, visit us at www.cloudsecurityalliance.org, and follow us on Twitter @cloudsa.
Kari Walker for the CSA
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HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast beginning at 9:00 a.m. Eastern Daylight Time (EDT) on Thursday, August 5, 2021 to discuss second quarter 2021 earnings. The company plans to release its financial and operating results before the market opens that morning.
A webcast link and related presentation material will be included on the Investors page of the company’s website at http://ir.murphyoilcorp.com.
Date: Thursday, August 5, 2021
Time: 9:00 a.m. EDT
Toll Free Dial-in: 888-886-7786
Conference ID: 11711715
ABOUT MURPHY OIL CORPORATION
As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events or results, are subject to inherent risks and uncertainties. Factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement include, but are not limited to: macro conditions in the oil and natural gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the US or global capital markets, credit markets or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the US Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.
Kelly Whitley, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9107
Megan Larson, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9470
Customers, suppliers, elected officials and other stakeholders sent nearly 200 additional letters underscoring benefits of CN and KCS combination, bringing total to well over 1,650
Congressman Sam Graves (R-MO) along with top elected leaders in Louisiana file letters in support of CN-KCS voting trust
MONTREAL & KANSAS CITY, Mo.--(BUSINESS WIRE)--CN (TSX: CNR) (NYSE: CNI) and Kansas City Southern (NYSE: KSU) (“KCS”) today announced that their combination continues to gain support, with letters from customers, suppliers, elected officials and other stakeholders being filed with the Surface Transportation Board (“STB”) in favor of the companies’ pro-competitive combination.
Nearly 200 additional letters have been sent to CN and KCS and filed with the STB, bringing the total number of letters received to well over 1,650. Importantly, all of the letters being filed today support the companies’ request that the STB approve the proposed voting trust agreement. This agreement underpins the pro-competitive CN-KCS combination, which will create a true USMCA railroad and will provide numerous new connections and service options for customers, establishing a seamless single-line service to expand North American trade and power economic prosperity.
The plain vanilla voting trust, which is identical to the CP trust approved for use by the STB, is an integral component of the CN-KCS combination. It prevents premature control of KCS, allows KCS to maintain independence and protects KCS’ financial health during the STB’s review of the ultimate combination of CN and KCS. It also enables KCS shareholders to realize the full value of their shares without the delay related to this review. Additionally, CN has committed to divesting the sole area of overlap between the CN and KCS networks – KCS’ 70-mile line between New Orleans and Baton Rouge – thereby making the combination a true end-to-end transaction, and has agreed to preserve existing route options by keeping gateways open on commercially reasonable terms.
The proposed CN-KCS combination represents a pro-competitive solution that offers unparalleled opportunities for customers, employees, shareholders, the environment and the North American economy.
One of the nearly 200 additional letters filed today is from Congressman Sam Graves, the Ranking Member of the House Committee on Transportation and Infrastructure. Representative Graves “urge[s] approval of the voting trust” and notes that the “CN/KCS trust should meet the unlawful control test, and also meet the public interest financial test.” He also observes that “KCS is well-established and well respected within the Kansas City area and merging with CN will create new opportunities for trade and economic growth in the metro area and beyond. From a national and international perspective, the CN/KCS merger has the potential to improve commerce and access to markets by creating a single railroad that will streamline the movement of goods among Canada, the United States, and Mexico.”
Additional stakeholders from CN and KCS’ networks, including Mayor President Sharon Weston Broome of Baton Rouge, the Board and executives of the Baton Rouge Area Foundation, Louisiana Governor John Bel Edwards, and the Port of New Orleans, continue to write letters underscoring the significant benefits available through the combination. Highlights of these letters include:
Lastly, today’s filing includes four letters of support from three local unions affiliated with Brotherhood of Locomotive Engineers and Trainmen (“BLET”), which collectively represent more than 1,700 engineers working on CN’s United States rail operating subsidiaries and approximately 200 engineers working on KCS.
CN and KCS look forward to further comment and engagement from their stakeholders during the STB’s official public comment period, which will be open until the end of the day today, June 28, 2021, as they work towards gaining approval of their voting trust and completing their combination.
A full copy of CN’s letter filed with the STB appears below:
Applicants Canadian National Railway Company (“CN”) and Kansas City Southern (“KCS”) respectfully submit the enclosed 186 letters from stakeholders relating to CN’s and KCS’s proposed combination. All of the letters in today’s filing express support for the approval of the voting trust. This filing brings the total number of support letters filed to well over 1,650. 940 of these letters explicitly support the proposed CN-KCS voting trust. These letters come from customers in Canada, Mexico and the United States, suppliers from every side of the rail industry, many of the largest ports in North America, trade associations, local chambers of commerce, dozens of mayors and city administrators, numerous state legislators, 2 governors, and 11 members of Congress.
Each of the 186 letters filed today voice their unequivocal support for CN’s proposed voting trust, of which 105 also back the CN-KCS combination itself. They include a letter from the Honorable Sam Graves, the representative from Missouri’s Sixth District and Ranking Member of the House Committee on Transportation and Infrastructure. Representative Graves “urge[s] approval of the voting trust” and notes that the “CN/KCS trust should meet the unlawful control test, and also meet the public interest financial test.” He also observes that “KCS is well-established and well respected within the Kansas City area and merging with CN will create new opportunities for trade and economic growth in the metro area and beyond. From a national and international perspective, the CN/KCS merger has the potential to improve commerce and access to markets by creating a single railroad that will streamline the movement of goods among Canada, the United States, and Mexico.”
Ranking Member Graves is joined by several other members of the Missouri and Kansas delegations, including Governor Mike Parson of Missouri, Congressman Emmanuel Cleaver, and Congresswoman Sharice Davids. Joining in support as well are numerous Kansas and Missouri civic organizations and leaders. The Kansas and Missouri delegations are joined by Congressman Cuellar of Texas and Congressman Kelly of Mississippi.
Support also comes from Louisiana. Applicants are pleased to enjoy the backing of Mayor Sharon Weston Broome of Baton Rouge, who writes that the proposed combination “would serve Baton Rouge, Louisiana well by expanding the collective reach of both railroads and bringing new, sustainable transportation solutions to businesses in Baton Rouge and East Baton Rouge Parish.” The board and executives of the Baton Rouge Area Foundation likewise write in support of the merger and voting trust, describing CN as “integral” to the transportation system of the region, and critical in connecting their businesses to markets around the World. They welcome the merger, which they say will further allow industry to move traffic from truck to rail and in so doing reduce greenhouse gas emissions. These letters join a dozen others supporting the merger which Applicants have already filed from Louisiana, including Governor Edwards and the Port of New Orleans.
The various elected officials, civic leaders, and economic development groups are joined by numerous other shippers and customers throughout Mexico, U.S. and Canada. Olin Corporation, a chemicals producer which ships more than 47,000 rail cars on both CN and KCS from its 10 North America locations, writes to express its belief that a CN-KCS merger will help Olin to “support and potentially grow its business” and to praise CN’s commitment to developing measures to enhance competition.
Other supporters also eagerly welcome the opportunity to move truck traffic to the new joint CN-KCS rail network. One such company is Atlantic Track and Turnout Co., a supplier to the rail industry as well as a customer that relies upon fast and economical service from CN in order to ship their products all across North America. This reliance has only continued to grow as the economy has reopened and truck freight has become “very expensive and increasingly unreliable.” They write that the CN-KCS combination would create a railroad network that is “faster, safer, and more economical,” which will allow them to shift more of their shipping to rail where the company currently relies on trucks to move freight from their facility in Memphis.
Entities from the agriculture industry join to express their support for the trust as well as the benefits the proposed merger would bring to their business. One such supporter is Ray-Carroll County Grain Growers, a long-time customer which depends on KCS for service at five of its locations where it provides a broad range of services to farmers and other members. Another, poultry producer Raeford Farms of Louisiana, looks forward to expanded market access and a more diversified feed market so that weather conditions in their immediate region don’t have the potential to pose a significant threat of disruption to their business.
CN and KCS are also pleased to enjoy support for the proposed voting trust from numerous labor organizations, including letters filed earlier this week from multiple chapters of the International Association of Sheet Metal, Air, Rail and Transportation Workers and Brotherhood of Locomotive Engineers and Trainmen (“BLET”). Today’s filing includes support from 4 local unions affiliated with the Brotherhood of Locomotive Engineers and Trainmen (“BLET”), who collectively represent over 1700 engineers working on CN’s United States affiliates and approximately 200 engineers working on KCS. These letters encourage approval of the voting trust, and note that the trust “demonstrates clearly the stakeholder-focused approach to business that Canadian National has demonstrated” in its relationship with these labor organizations.
CN and KCS are pleased that so many stakeholders recognize that the trust proposed by CN and KCS, which is identical to the CP trust approved by the STB, meets the test for approval because it: (a) prevents premature control of KCS; (b) allows KCS to maintain independence during the STB’s review of the ultimate combination of CN and KCS; and (c) protects KCS’ financial health during this period. It also enables KCS shareholders to realize the full value of their shares prior to the STB’s subsequent review of the merits of the proposed combination.
Indeed, as the Board may be aware, former STB Commissioner and Vice-Chairman, William Clyburn, Jr., wrote in an Railway Age op-ed dated June 8, 2021 that he believes the CN voting trust addresses “unlawful control” and the “public interest” standard under the new rules, and that as such, the voting trust should be approved. Likewise, in an op-ed published by Railway Age on June 22, Dr. William Huneke, the former Director of the Office of Economics and Chief Economist at STB expressed his support for the voting trust in large part because approval of the trust is the only means by which shippers will enjoy the benefits of CN’s open gateways commitment, which he describes as a “big deal.” He believes that this commitment, which will only be implemented through consideration and approval of the merger itself, “ensures that shippers who today enjoy competitive joint line routings with either CN or KCS will continue to have those routings available to them in a post CN/KCS merger environment, even if a merged CN/KCS could handle the entire movement via a single-line routing”.
CN and KCS appreciate the overwhelming support that Board Member Clyburn, Dr. Huneke, and the many, many other customers and stakeholders have expressed during the STB’s voting trust comment period. CN and KCS will continue to engage with industry stakeholders about the proposed CN-KCS combination and the tremendous public interest benefits it will bring by creating the premier railway for the 21st century with a single network across Canada, the United States, and Mexico.
Respectfully submitted,
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Sean Finn |
Raymond A. Atkins |
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Olivier Chouc |
Terence M. Hynes |
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CN |
Matthew J. Warren |
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935 de La Gauchetière Street West, |
Sidley Austin LLP |
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1501 K Street, N.W. |
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Montreal, QC H3B 2M9 |
Washington, DC 20005 |
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Kathryn J. Gainey |
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CN |
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Counsel for Canadian National Railway Company, Grand Trunk Corporation, and CN’s Rail Operating Subsidiaries |
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/s/ William A. Mullins |
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Adam J. Godderz |
William A. Mullins |
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Kansas City Southern |
Crystal M. Zorbaugh |
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P.O. Box 219335 |
Baker & Miller PLLC |
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Kansas City, MO 64121-9335 |
2401 Pennsylvania Avenue, Suite 300 |
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Washington, DC 20037 |
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Counsel for Kansas City Southern, The Kansas City Southern Railway Company, Gateway Eastern Railway Company, and the Texas Mexican Railway Company |
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Dated: June 28, 2021
INDEX of ENCLOSED SUPPORT STATEMENTS
Statements SUPPORTING TRANSACTION
Statements SUPPORTING PROPOSED VOTING TRUST
CERTIFICATE OF SERVICE
I hereby certify that on this 28th day of June, 2021, a copy of the foregoing Joint Submission of 186 Additional Statements Supporting Proposed Transaction And/Or Voting Trust was served by email or first class mail on the service list to Finance Docket No. 36514.
/s/ Matthew J. Warren
Matthew J. Warren
For more information about CN’s and KCS’ pro-competitive combination, please visit www.ConnectedContinent.com.
About CN
CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.
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 cautions that its 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.
Media: CN
Canada
Mathieu Gaudreault
CN Media Relations & Public Affairs
(514) 249-4735
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Longview Communications & Public Affairs
Martin Cej
(403) 512-5730
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United States
Brunswick Group
Jonathan Doorley / Rebecca Kral
(917) 459-0419 / (917) 818-9002
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Media: KCS
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: CN
Paul Butcher
Vice-President
Investor Relations
(514) 399-0052
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Investment Community: KCS
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
DUBLIN--(BUSINESS WIRE)--The "Global Market for Passenger Hydrogen Fuel Cell Vehicles, 2021" report has been added to ResearchAndMarkets.com's offering.
This study provides detailed data on the sales of passenger hydrogen fuel cell vehicles from their initial commercial launch through 2020. It provides market forecasts and revenue projections for the major world regions through 2036.
The study discusses automaker strategies and provides their in-depth profiles. This is one of the most comprehensive and timely studies on the passenger hydrogen fuel cell vehicles market.
With a substantial hydrogen fueling infrastructure in place, the market for hydrogen fuel cell passenger vehicles is ready for take-off, according to this research study. The study presents a bright outlook for the growth of hydrogen fuel cell cars and SUVs.
The study, Global Market for Passenger Hydrogen Fuel Cell Vehicles, said that over 27,500 hydrogen fuel cell vehicles had been sold by year-end 2020 since their sales first began. The sales were constrained by the absence of a robust hydrogen fueling infrastructure.
The sales of passenger hydrogen fuel vehicles are now poised for a rapid pickup in 2021, the study said. Over 8,500 passenger fuel cell vehicles were sold in 2020, the highest annual sales compared to any of the previous years. The 2020 sales bucked the severe downturn experienced by the auto industry during the year.
Key Topics Covered:
1 Summary and Scope
2 Market Trends and Developments
3 Hydrogen FCVs vs. BEVs
4 Factors Impacting Growth of FCVs
4.1 Need to Combat Climate Change
4.1.1 Greenhouse Gas Emissions
4.1.2 Paris Climate Treaty
4.2 Engagement of Governments & Global Organizations
4.2.1 Regulatory Requirements
4.2.2 Government Mandates
4.2.3 Subsidies and Incentives
4.3 Emerging Hydrogen Ecosystem
4.3.1 Technological Developments
4.3.2 Increasing Production of Hydrogen
4.3.3 Buildout of Hydrogen Fueling Stations
4.3.4 Falling Costs of FCV Ownership
5 Sales/Leases
6 APAC FCV Launches
7 European (Except Nordic Countries) FCV Launches
8 Nordic Region FCV Launches
9 Middle East & Africa FCV Launches
10 North America FCV Launches
11 CALA FCV Launches
12 Automaker Profiles
13 FCVs Sales/Revenue Forecast
14 Conclusions
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/3tg4xl
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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Laura Wood, Senior Press Manager
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AI Solution for Advanced C&I Energy Management and Integrated Renewables is Recognized for Clean Energy Innovation
MONTREAL--(BUSINESS WIRE)--#AI--vadimUS, a leading provider of commercial and industrial (C&I) renewable energy solutions announced today that it has received the Solar Impulse (SI) Efficient Solution Label this month for its innovative vadiMAP solution. The Label is granted to a select number of products leading the industry in clean energy technology and business transformation. vadiMAP was recognized for its innovative approach to helping building operators and managers integrate renewables and manage energy resources to reduce their carbon footprint and streamline operations.
vadiMAP is the only AI-based energy management solution for renewable energy integration for the C&I market to be recognized by Solar Impulse. Its unique turnkey approach and easy deployment allow operators to quickly realize both energy and financial savings and benefits.
“Receiving validation from Bertrand Piccard and the Solar Impulse Foundation is a great honor and we believe our missions are aligned in accelerating the energy transition,” said Dan Boucher, Chief Executive Officer of vadimUS.
The vadiMAP solution offers the following benefits:
To learn more about vadiMAP and how it is accelerating energy transformation and grid resiliency, visit vadimap.com.
About vadiMAP
vadimUS is accelerating transformation in the energy industry through its AI-based vadiMAP solution for renewable energy integration for commercial and industrial (C&I) customers. Recognized by leading organizations including the Solar Impulse Foundation, the solution provides an easy path forward for building owners and operators looking to create a sustainable footprint and reduce carbon reduction, as well as improve operational and financial outcomes. Learn more at vadiMAP.com
About the Solar Impulse Efficient Solution Label and The Solar Impulse Foundation
The Solar Impulse Foundation is dedicated to accelerating the implementation of clean and profitable solutions. To address sustainability challenges while enabling economic growth, Bertrand Piccard and the Solar Impulse Foundation have identified 1000+ clean and profitable solutions that give political and economic decision-makers the tools to adopt much more ambitious energy and environmental policies. These products have achieved the highest level of recognition by third party experts and evaluators and receive the Solar Impulse Efficient Solution Label.
Jérémy S. Boucher
514 708 2692
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PARIS--(BUSINESS WIRE)--Regulatory News:
Technip Energies (Paris:TE) (ISIN:NL0014559478) will issue its first half 2021 financial results on Thursday July 22, 2021 at 07:00 CET. The Company will host a results conference call on the same day, at 13:00 CET.
To participate in the conference call, please use one of the following telephone numbers and dial in approximately 10 minutes prior to the scheduled start time:
United Kingdom: |
+44 (0) 2071 928000 |
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France: |
+33 1 76 70 07 94 |
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United States: |
+1 631 510 74 95 |
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Conference Code: |
7337979 |
The event will be webcast simultaneously and can be accessed at: https://edge.media-server.com/mmc/p/a4pmdoto
To listen to the webcast, please register on the website at least 10 minutes before the call begins. The webcast will be available on-demand shortly after it has finished.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.technipenergies.com.
Investor relations
Phil Lindsay
Vice-President Investor Relations
Tel: +44 203 429 3929
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Media relations
Stella Fumey
Director Press Relations & Digital Communications
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BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“) today announced its membership in ITS mobility, the largest competence cluster for intelligent mobility in Germany. The U.S. corporation develops cutting-edge technologies allowing for an “Any Fuel. Anywhere.” option in which Advent’s high-temperature fuel cells are not limited to exclusively using hydrogen as a fuel source as they can convert hydrogen carriers and other e-fuels to electricity.
Advent plays an active role in the automotive sector through its patented high-temperature polymer electrolyte membrane (HT-PEM) technology. This allows electric vehicles (EVs), from smaller vehicles requiring a charge of 15 kW or less to larger vehicles requiring above 30 kW, to continuously recharge their batteries and refuel on a variety of zero-emissions liquid fuels.
ITS mobility is a multi-branched, active network connecting business, economic and science experts in projects and through professional events on intelligent mobility concepts designed to create safer and more efficient traffic and transportation. With more than 200 members and over 20 years of experience, ITS mobility promotes dialogue between the mobility industry and research community. The association’s focus includes automated and connected driving, sustainable mobility concepts, intelligent infrastructures, new drive technologies and energy sources, open data infrastructure, mobility-as-a service (MaaS), artificial intelligence, new materials, eCall, and positioning and navigation.
Dr. Vasilis Gregoriou, Advent Technologies Chairman and Chief Executive Officer, said, “We are thrilled to be a member of ITS mobility and actively contributing to this leading German network for the mobility industry and researchers. We look forward to collaborating with ITS mobility and our fellow members to help the hydrogen and fuel cell industries thrive while remaining committed to playing our role in the clean energy transition through the advancement of innovative, effective solutions.”
Thomas Krause, Chairman of the Board of ITS mobility, added: “We are excited to have Advent Technologies as a member of ITS mobility. Their knowledge and experience as an innovator in the fuel cell and hydrogen technology space will be a valuable asset to our competence cluster.”
ITS mobility is a member of the go-cluster program, the cluster political excellence measure of the Federal Ministry for Economic Affairs and Energy. ITS has been awarded the silver label for Cluster Management Excellence by the European Secretariat for Cluster Analysis (ESCA).
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, 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 realize the benefits from the business combination; 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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MILLBRAE, Calif.--(BUSINESS WIRE)--#STEM--Stem, Inc. (“Stem” or “the Company”) (NYSE: STEM), a global leader in artificial intelligence (AI)-driven clean energy storage services, today announced it has joined the Russell 2000® Index.
The Annual Russell Indexes reconstitution captures the 4,000 largest U.S. stocks as of May 7, 2021, ranking them by total market capitalization. FTSE Russell, a subsidiary of London Stock Exchange Group that produces, maintains, licenses, and markets stock market indexes, determines membership for its Russell Indexes primarily by objective, market-capitalization rankings, and style attributes. The Russell 2000® Index is the most widely quoted measure of the overall performance of the small- to mid-capitalization company shares.
As the first public pure play smart energy storage company, Stem delivers and operates battery storage solutions that maximize renewable energy generation and help build a cleaner, more resilient grid. Our customers include Fortune 500 companies, project developers, utilities, and independent power producers. Stem’s market-leading Athena® software helps lower energy costs, enhance customer returns, and solve renewable intermittency across the world’s largest network of distributed energy storage systems.
“Stem’s inclusion in the Russell 2000® Index highlights the growing focus by investors on ESG themes and the emergence of the energy storage industry in particular,” said John Carrington, Chief Executive Officer at Stem, Inc. “This milestone clearly shows how Stem is benefitting from a rapidly expanding market where our AI-driven clean energy storage services will drive strong revenue growth, margins, and cash flows.”
Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against U.S. Russell Indexes.
For more information on Russell indexes and reconstitution, please visit the “Russell Reconstitution” section on the FTSE Russell website.
About Stem, Inc.
Stem, Inc. (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena®, a world-class AI-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter. For more information, visit www.stem.com.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com.
Cautionary Statement regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “believe,” “plan,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “see,” “likely,” and similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as projected demand for our AI-driven clean energy storage services; our ability to achieve strong revenue growth, margins and cash flows; forecasts or expectations regarding the development of, or anticipated benefits of, our strategic initiatives; and other forecasts or expectations regarding the energy transition and global climate change. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from our strategic initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the extent of customer demand for our AI-driven clean energy storage services; our inability to achieve strong revenue growth, margins and cash flows; our inability to recognize the anticipated benefits of our recent business combination with Star Peak Energy Transition Corp. (“Star Peak”); our inability to grow and manage growth profitably; risks relating to the development and performance of our energy storage systems and software-enabled services; the possibility that our business, financial condition and results of operations may be adversely affected by other economic, business and competitive factors; and other risks and uncertainties set forth in the section entitled “Risk Factors” in the definitive proxy statement relating to the business combination filed by Star Peak on March 30, 2021, our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC, and other documents we file or furnish with the SEC in the future. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and Stem disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
Stem Investor Contacts
Ted Durbin, Stem
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Energy Startup Will Play Crucial Role in Helping the Fossil Fuel Industry Proactively Reduce Methane and Other Greenhouse Gas Emissions
HOUSTON--(BUSINESS WIRE)--Oil & Gas industry veteran Tony Sanchez III, Founder & former CEO of Sanchez Energy Corporation, today announced the official launch of OneNexus Environmental. The forward-thinking energy start-up is a financial technology (fintech) energy company created as a first-of-its-kind full platform for solving the massive environmental and financial problem of providing and planning for the management of energy company Asset Retirement Obligations (AROs) related to the decommissioning of the rapidly growing backlog of non-producing and orphaned oil & gas wells.
OneNexus offers its E&P clients the equivalent of a universal life insurance policy for their oil & gas wells, whereby once the well, asset or field reaches the end of its productive life, the E&P operator has the option to transfer title of the asset to OneNexus permanently. At that point, OneNexus assumes the financial and operational responsibility for properly plugging and abandoning the well or asset and for performing all necessary surface and environmental remediation work, thereby assuring that the risks and compliance issues associated with the retirement of oil & gas assets are properly met and funded. Once title to the asset is transferred to OneNexus, the E&P company will have no further decommissioning or environmental liabilities associated with the asset.
It will accomplish this heretofore unaddressed problem by relying on data science, predictive analytics, risk mitigation and cutting-edge plugging and remediation technologies needed to not only pay for but to manage energy company AROs in the permanent decommissioning of an ever-increasing backlog of non-producing wells.
“The drastic decline in energy demand that arose from the pandemic forced many operators to walk away from their wells,” Sanchez said. He added, “When orphaned wells started multiplying around the world overnight, what was previously the so-called elephant in the oilfield could no longer be ignored.”
Last year, Reuters estimated nearly 30 million problematic wells around the world emitted some 2.5 million tonnes of methane. According Wood Mackenzie, fixing this problem is going to take at least $50 trillion to meet the goals of the Paris climate accord by 2050. “OneNexus is in a unique position to apply deep industry knowledge to the retirement of oil & gas fields that are no longer producing by bringing disparate financial and technological solutions together to vertically aggregate risk into a single platform that will save producers time and money while helping to preserve the planet for future generations,” said Sanchez.
Institutional investors representing a collective $5.35 trillion in assets recently wrote a letter calling on the Biden administration to get tougher on methane emissions as it seeks to address climate change. If left unchecked, these greenhouse gas emissions have the potential to impede the role that natural gas will play in a decarbonizing economy. In the letter, a number of environmental policies were recommended that both the industry and investment community could take to address the growing problem and specifically pointed to the plugging of inactive wells as a responsible step that would be good for both business and the environment.
To that end, OneNexus will also introduce a 501(c)(3) non-profit foundation that represents a key component of the company’s mission to preserve and improve the environment through the reduction of harmful greenhouse gasses – calling on the international community to do its part in addressing the problem.
Bringing to bear extensive oil & gas sector insight, Sanchez assembled a dynamic team of energy industry specialists and financial professionals, who – backed by a network of premier subject matter experts in petroleum engineering, chemical engineering, data science, and systems management – have positioned themselves at the forefront of innovative efforts to solve the seemingly insurmountable dilemma: how to motivate, incentivize and fund energy companies that want to be part of the solution. Decommissioning wells is a complicated process with numerous environmental, legal and financial requirements and obligations. All too often, companies are unable to fulfill their obligations, leaving state governments and, ultimately taxpayers, responsible for the bill.
OneNexus has partnered with Houston-based private equity firm BlackGold Capital Management LP, a leading energy industry investment firm partially owned by KKR (NYSE: KKR) that will play an integral role in transforming the OneNexus vision into a reality.
“Existing solutions are inadequate,” Sanchez said. “We started a company that is capable of tackling the problem head-on and that enables energy companies to proactively be part of the solution.”
ABOUT ONENEXUS ENVIRONMENTAL
OneNexus Environmental was created to help oil & gas companies systematically and responsibly manage their Asset Retirement Obligations (AROs) and decommissioning activities. The new venture was started by a network of seasoned energy industry and financial experts to serve as an Environmental, Social and Governance (ESG) solutions provider utilizing a fintech model to solve the complex problem of decommissioning uncapped onshore and offshore wells in a safe, reliable and cost-effective manner. Headquartered in Houston, Texas – the Energy Capital of the World – OneNexus is a Benefit Company whose purpose is to address the mounting number of inactive and orphaned wells which contribute to greenhouse gas emissions and financial liabilities of the energy industry. For more information, please visit www.onenexusenvironmental.com.
Mark Sullivan / Jonathan Babin
Public Content / 713-524-2800
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DUBLIN--(BUSINESS WIRE)--The "LNG Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The global LNG market was estimated to be USD 41.21 billion in 2019, and is expected to reach USD 61.85 billion by 2026, at a CAGR of 6.92% during 2021-2026.
Companies Mentioned
Key Market Trends
Liquefaction Sector to Dominate the Market
Asia-Pacific to Dominate the Market
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2026
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Industry Attractiveness - Porter's Five Forces Analysis
4.8 Impact of COVID-19 on the Global LNG Market
5 MARKET SEGMENTATION
5.1 LNG Infrastructure
5.2 LNG Trade
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/mmz0b4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Artera Services, LLC (Artera), a portfolio company of Clayton, Dubilier & Rice (CD&R) and one of the nation’s largest providers of integrated infrastructure services to natural gas and electric industries, on its acquisition of Feeney Utility Services Group (FUSG). The transaction was led by Drew Spitzer and Matt White of the Harris Williams Energy, Power & Infrastructure (EPI) Group.
“We believe FUSG is a strategic fit with Artera, expanding Artera’s strength as a leader in gas distribution services and extending the company’s footprint in the attractive Northeast market,” said Matt White, a managing director at Harris Williams. “We look forward to seeing what the combined company accomplishes.”
“We continue to see investor interest in companies providing services to all facets of the utility landscape given tremendous tailwinds in the sector, including aging infrastructure, increasing regulatory requirements, energy transition and continued utility outsourcing,” added Drew Spitzer, a managing director at Harris Williams. “It was a pleasure working with Artera and CD&R on this transaction.”
Artera, headquartered in Atlanta, is a more than $2.6 billion in revenue industry-leading provider of integrated infrastructure services to the natural gas and electric industries across 39 states. Artera employs more than 10,800 people throughout the United States and focuses on maintenance, replacement, upgrade and integrity of existing infrastructure. Artera’s business units are recognized market leaders, have long-standing operating histories in the industry, and are well respected for shared common core values of safety, quality, commitment and reputation.
CD&R is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $35 billion in 100 companies with an aggregate transaction value of more than $150 billion. The firm has offices in New York and London.
FUSG, headquartered in Boston, leverages the resources and strength of its business units, Feeney Brothers Utility Services and DDS Companies, to be a leading natural gas utility service provider in the Northeast and Mid-Atlantic.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams EPI Group has significant experience advising market leading providers of technology, services and products across a broad range of sectors. These sectors include energy management; infrastructure services; utility services; testing, inspection, and certification services; environmental services; engineering and construction; power products and technology; and energy technology. For more information on the Group’s experience, please visit the EPI Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: This email address is being protected from spambots. You need JavaScript enabled to view it.). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.
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WARRENVILLE, Ill.--(BUSINESS WIRE)--Fuel Tech, Inc. (NASDAQ: FTEK) (or “the Company”), a technology company providing advanced engineering solutions for the optimization of combustion systems, emissions control and water treatment in utility and industrial applications, today announced the Company’s addition to the Russell Microcap® Index effective at the close of trading on June 25, 2021.
“We believe that inclusion in the Russell Microcap® Index reflects our progress as a Company and the significance of the opportunities we are pursuing,” said Vincent J. Arnone, President and CEO. “We welcome the enhanced visibility among institutional investors that addition to the Russell provides. We have a strong balance sheet with no debt, and continue to explore a range of opportunities that advance our mission of providing advanced engineering solutions that support environmental remediation, while delivering long-term value to our shareholders.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About Fuel Tech
Fuel Tech develops and commercializes state-of-the-art proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. These technologies enable customers to operate in a cost-effective and environmentally sustainable manner. Fuel Tech is a leader in nitrogen oxide (NOx) reduction and particulate control technologies and its solutions have been in installed on over 1,200 utility, industrial and municipal units worldwide. The Company’s FUEL CHEM® technology improves the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion and opacity. Water treatment technologies include DGI™ Dissolved Gas Infusion Systems which utilize a patented nozzle to deliver supersaturated oxygen solutions and other gas-water combinations to target process applications or environmental issues. This infusion process has a variety of applications in the water and wastewater industries, including remediation, aeration, biological treatment and wastewater odor management. Many of Fuel Tech’s products and services rely heavily on the Company’s exceptional Computational Fluid Dynamics modeling capabilities, which are enhanced by internally developed, high-end visualization software. For more information, visit Fuel Tech’s web site at www.ftek.com.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” as defined in Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect Fuel Tech’s current expectations regarding future growth, results of operations, cash flows, performance and business prospects, and opportunities, as well as assumptions made by, and information currently available to, our management. Fuel Tech has tried to identify forward-looking statements by using words such as “anticipate,” “believe,” “plan,” “expect,” “estimate,” “intend,” “will,” and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on information currently available to Fuel Tech and are subject to various risks, uncertainties, and other factors, including, but not limited to, those discussed in Fuel Tech’s Annual Report on Form 10-K in Item 1A under the caption “Risk Factors,” and subsequent filings under the Securities Exchange Act of 1934, as amended, which could cause Fuel Tech’s actual growth, results of operations, financial condition, cash flows, performance and business prospects and opportunities to differ materially from those expressed in, or implied by, these statements. Fuel Tech undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances or for any other reason. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those detailed in Fuel Tech’s filings with the Securities and Exchange Commission.
Vincent J. Arnone
Principal Financial Officer
(630) 845-4500
Devin Sullivan
Senior Vice President
The Equity Group Inc.
(212) 836-9608
NEW ORLEANS--(BUSINESS WIRE)--#SBInfrastructure--TAI Engineers, LLC, a New Orleans, La. based Maritime Solutions Company, has completed the Detailed Design and Construction of a new utility vessel for the National Park Service (NPS).
The NPS named the all-steel Passenger/Utility vessel "ANNIE MOORE" after the first immigrant, a 15-year-old Irish girl, who signed the Ellis Island register.
“TAI has designed and built many boats and ships, but this project is particularly special to me,” said Anil Raj, President of TAI. “My very first arrival to the United States was via New York in 1969. While landing at JFK, the Pan American airline pilot tipped the plane wings and announced a view of the Statue of Liberty from the window. He stated that she was welcoming new immigrants to Liberty and Justice for All in the US. I feel especially privileged that our company was a part of this project.”
One of the duties of the “Annie Moore” is to transport national and international dignitary guests to the Statue of Liberty. This 74 ft long x 24 ft wide vessel is ready to serve the NPS to transport VIPs, official passengers, supplies and equipment to Ellis Island from Battery Park, New York, NY. The vessel has seating for 40 passengers, and a galley on the main deck. A knuckle boom crane is provided for loading/unloading of palletized cargo.
The USCG Sub-T inspected vessel was built jointly by TAI and its subcontractor Aluma Marine at its facilities in Harvey, La. It is designed and built to American Bureau of Shipping (ABS) Rules. The ice belt and the bow structure of the hull are designed to ABS Ice class C0 rules and the vessel includes ice strengthened reduction gears, propulsion shafting, rudders, and propellers. The vessel is equipped with twin Caterpillar C18 propulsion engines.
“With the challenges of the COVID-19 pandemic, we must recognize the cooperative hard work of Aluma Marine craft persons, the USACE’s Marine Design Center, NPS leadership, TAI professionals, ABS, the US Coast Guard surveyors and the project’s subcontractors and suppliers. They selflessly worked together during this challenging period to bring this project to successful fruition,” said Raj.
The US Army Corps of Engineers, Marine Design Center (MDC) supported NPS by providing Project Management, Engineering, and Contract Management support for the new vessel.
This is TAI’s fifth vessel Design and Build contract for the US Army. All were completed within contract schedule and budget.
“We are grateful to the United States Government for entrusting our Marine Division (TAI) with this landmark project,” said Daniel Rios, CEO of S&B Infrastructure (who recently acquired TAI). “We are pleased at the successful outcome and hope to perform many more successful projects for the USACE Marine Design Center and National Park Service.”
About S&B Infrastructure, Ltd.
S&B Infrastructure, Ltd. has been in existence since 1994, making it one of the largest privately-owned engineering firms in Texas. S&B provides planning, multi-discipline engineering design, and construction phase services in the following market sectors: transportation, federal, public works, pipeline, and facilities. S&B provides services to both public- and private-sector clients. The company aspires to provide quality professional design services and innovative, cost-effective solutions to meet client expectations. S&B provides an ethical environment that empowers employees to grow and contribute to the quality of life in the communities that S&B serves. S&B Infrastructure, Ltd. is part of the broader S&B family of companies, including S&B Engineers and Constructors, Ltd. Connect with us on LinkedIn.
Lindsay Szeszycki, Director of Communications and Marketing
S&B Engineers and Constructors, Ltd.
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518.879.2101
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