IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today said it made a discovery at Pinktail in the Stabroek Block offshore Guyana. The Pinktail well encountered 220 feet (67 meters) of net pay in high quality hydrocarbon bearing sandstone reservoirs. In addition to successful appraisal of the Turbot discovery, the Turbot-2 well encountered 43 feet (13 meters) of net pay in a newly identified, high quality hydrocarbon bearing sandstone reservoir separate from the 75 feet (23 meters) of high quality, oil bearing sandstone reservoir pay encountered in the original Turbot-1 discovery well. This follows the additional pay in deeper reservoirs encountered at the previously announced Whiptail discovery. These results will be incorporated into future developments.
“These discoveries are part of an extensive well program in the Stabroek Block utilizing six drillships to test play extensions and new concepts, evaluate existing discoveries and complete development wells for the Liza Phase 2 and Payara projects,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “Our exploration successes continue to increase the discovered resource and will generate value for both the Guyanese people and our shareholders.”
Separately, the Liza Unity floating production storage and offloading (FPSO) vessel set sail from Singapore to Guyana in early September. The FPSO will be utilized for the Liza Phase 2 development and is expected to begin production in early 2022, with a capacity to produce approximately 220,000 barrels of oil per day. ExxonMobil anticipates at least six projects online by 2027 and sees potential for up to 10 projects to develop its current discovered recoverable resource base. The Liza Destiny FPSO vessel is currently producing approximately 120,000 barrels of oil per day.
The Pinktail discovery is located approximately 21.7 miles (35 kilometers) southeast of the Liza Phase 1 project, which began production in December 2019, and 3.7 miles (6 kilometers) southeast of Yellowtail-1. Pinktail was drilled in 5,938 feet (1,810 meters) of water by the Noble Sam Croft. The Turbot-2 discovery is located approximately 37 miles (60 kilometers) to the southeast of the Liza phase one project, and 2.5 miles (4 kilometers) from the Turbot-1 discovery announced in October 2017. Turbot-2 was drilled in 5,790 feet (1,765 meters) of water by the Noble Sam Croft.
The Stabroek Block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited holds 25 percent interest.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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Cautionary Statement: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, capacities, production rates, and resource recoveries could differ materially due to: changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments including obtaining necessary regulatory permits; restrictions in trade, travel or other government responses to current or future outbreaks of COVID-19; reservoir performance; the outcome of future exploration efforts; timely completion of development and construction projects; technical or operating factors; the outcome of commercial negotiations; unexpected technological breakthroughs or challenges; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com and under Item 1A. Risk Factors in our annual report on Form 10-K and quarterly reports on Form 10-Q. References to “recoverable resources,” “oil-equivalent barrels,” and other quantifies of oil and gas include estimated quantities that are not yet classified as proved reserves under SEC definitions but are expected to be ultimately recoverable. The term “project” can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.
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Innovative Digital Financial Platform Simplifies Payment for Payer and Merchant
ATLANTA--(BUSINESS WIRE)--RoadSync, the digital financial platform for the logistics industry, announces its partnership with FYX Fleet, a network of expedited fleet roadside assistance. Through this partnership, RoadSync is simplifying payment acceptance for both the payer and the merchant in roadside assistance transactions. This integration is another step towards streamlining payments in the $800B trucking and logistics industry.
As the leading provider of emergency roadside assistance for the intermodal and over-the-road trucking industries, FYX Fleet is a fitting partner for RoadSync. When a FYX Fleet repair service is provided, the customer is now able to pay FYX Fleet directly via RoadSync’s user-friendly solution, including customized invoices that are texted directly to the customer. The customer can pay the invoice via their preferred method, whether that is debit, credit card or fleet check. In addition, RoadSync recently added WEX EFS and Fleet One cards to its solution, offering more ways to pay and meeting its customers where they are. Upon payment, RoadSync completes the transaction with the provider, ensuring they receive funds quickly.
“At RoadSync, we’re eager to partner with like-minded companies, those who are working to simplify each piece of the supply chain and the trucking industry as a whole,” says Robin Gregg, CEO, RoadSync. “The logistics industry is historically burdened by manual processes, and it is our mission to change that. By partnering with FYX Fleet, we’re able to continue delivering efficiencies that help get drivers back on the road to keep our economy moving.”
RoadSync’s technology dramatically reduces payment processing time, maximizes revenue collection, and improves profitability for the transportation industry. FYX Fleet customers and providers can now utilize the optimized payment process to pay and get paid, faster.
“Roadside assistance is a key component of the transportation industry and any efficiencies we can create at this point of the supply chain has a positive, compounding impact across the board,” says John Detlefsen, COO, FYX Fleet. “By helping our network process their payments quickly, we’re saving everyone time and money that were previously spent on cumbersome processes. We’re thrilled to begin this partnership with RoadSync and implement their innovative platform with our customers.”
As a leader in providing financial solutions in the logistics space, RoadSync continues to innovate and drive the industry forward with a mission to streamline invoice and payment collection. This partnership with FYX Fleet is the latest advancement in the organization’s strategy to support and enhance the industry’s shifting reliance on contactless and digital payment technologies.
About RoadSync
RoadSync is the digital financial platform for the logistics industry. By removing paper and phone calls from business transactions, RoadSync offers a fast, convenient, and secure way to move and manage money and conduct business, dramatically reducing payment processing time and maximizing revenue collection. RoadSync offers payment products for the entire supply chain – warehouses, trucks/carriers, repair/tow merchants, and brokers – integrating and automating the financial systems fueling the logistics industry. For more information, visit www.roadsync.com.
About FYX Fleet Roadside Assistance
FYX (https://fyxfleet.com), formerly TRAC Interstar, has been providing expert roadside assistance solutions to the trucking industry for over 35 years. With 24/7 operations, an extensive vendor network of over 1,000 preferred partners and advanced road service technology designed for fleet managers and owner-operators, FYX is a one-stop solution for all fleet road service needs.
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Acquisition Adds Unique Application Expertise to Accelerate Adoption of Additive Manufacturing 2.0 by Major OEMs in Hydraulics, Oil & Gas, Aerospace, Machinery, and Other Industrial Sectors
BOSTON--(BUSINESS WIRE)--#3DP--Desktop Metal (NYSE: DM) today announced it has acquired Aidro, a pioneer in the volume production of next-generation hydraulic and fluid power systems through metal additive manufacturing (AM) across a wide range of industries, including oil & gas, agricultural equipment, aerospace, and mobile and industrial machinery, among others.
Founded in 1982 and based in northern Italy, Aidro has almost 40 years of experience in the design and production of valves, manifolds, and various hydraulic components and fluid power systems. Aidro offers best-in-class expertise in design for additive manufacturing, including finite element analysis simulation and topology optimization techniques. Aidro engineers leverage these technical capabilities to redesign traditional hydraulic components for AM production using complex geometries to reduce weight, save space, and consolidate multiple components into one, eliminating assembly and welding requirements. Hydraulic components produced by Aidro using AM improve performance versus conventional manufacturing by optimizing flow channel placement and geometry to increase flow capacity and decrease pressure drops.
To offer customers innovative and custom solutions, Aidro has invested in AM facilities and processes alongside its conventional manufacturing capabilities. The company’s dedicated AM department features metal 3D printers, 3D scanning technologies, and ISO9001 and AS/EN9100 certifications, all leveraged to deliver high-performance products to customers, including industry-leading original equipment manufacturers (OEMs), while reducing production lead times for volume quantities of end-use components, spare parts, or on-demand rapid prototypes.
“This acquisition advances Desktop Metal’s strategy to support our major OEM customers with proprietary design and application know-how as well as through a combination of best-in-class AM products and high-value parts production across killer applications for AM 2.0,” said Ric Fulop, Founder and CEO of Desktop Metal. “Aidro brings a talented team with decades of experience in hydraulics and fluid power systems and a passion for leveraging AM to deliver performance advantages to their customers. We’re excited about the acquisition and look forward to advancing AM 2.0 for high-volume production of hydraulics, valves, fluid power systems, and many more end-use parts in development with Aidro.”
“Additive manufacturing offers benefits unmatched by conventional manufacturing, and once Aidro realized the advantages of leveraging AM, we quickly allocated resources to develop expertise and take advantage of the opportunity,” said Valeria Tirelli, Co-CEO and President of Aidro. “This partnership is the next step in our AM evolution, and now, with access to Desktop Metal’s scale and industry-leading AM 2.0 technology portfolio, including its volume production-focused metal binder jetting solutions, we’re thrilled at the growth potential for Aidro.”
“We are thrilled to join forces with Desktop Metal,” said Tommaso Tirelli, Co-CEO and VP Business Development of Aidro. “This partnership will enable us to continue investing in the expansion of AM for next-generation hydraulic solutions to disrupt massive industries such as oil & gas and aerospace.”
“With the collaboration and support of Desktop Metal, we will be able to take our AM capabilities in hydraulics to the next level,” said Alberto Tacconelli, GM of Aidro. “We are ready to embrace AM to develop innovative products for our customers, leveraging mass production technologies to achieve affordable part costs and high-performance designs that overcome the limitations of conventional manufacturing.”
About Desktop Metal
Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with an expansive portfolio of 3D printing solutions, from rapid prototyping to mass production. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make additive manufacturing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum and named to MIT Technology Review’s list of 50 Smartest Companies.
For more information, visit www.desktopmetal.com.
About Aidro
Aidro s.r.l., founded in 1982 and headquartered in Italy, is a pioneer in design and production of components for hydraulic and fluid power systems via additive manufacturing. The Company offers innovative and custom solutions that leverage the benefits of additive manufacturing including lightweighting, assembly consolidation, and performance improvements, to customers across sectors such as oil & gas, industrials, agriculture, aerospace, and mobile and industrial machinery, among others.
For more information, visit www.aidro.it
Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to, the risks and uncertainties set forth in Desktop Metal, Inc.'s filings with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Desktop Metal, Inc. assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Investor Relations
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ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--AD Ports Group, the region’s premier facilitator of logistics, industry, and trade, and France-based CMA CGM Group, a world leader in shipping and logistics, have announced the signing of a 35-year concession agreement.
Under the terms of the agreement, a new terminal will be established in Khalifa Port, the first semi-automated container port in the GCC region, which will be managed by a joint venture owned by CMA CGM’s subsidiary CMA Terminals (with a 70 percent stake) and AD Ports Group (30 percent stake). The partners are expected to commit approximately AED 570 million (USD 154 million) to the project.
A state-of-the-art terminal to accompany the growth of Khalifa Port
With construction starting in 2021, the new terminal is set to be handed over in 2024 with, in phase 1, an initial quay length of 800 metres and an estimated annual capacity of 1.8 million TEUs. AD Ports Group will be responsible for developing a wide range of supporting marine works and infrastructure. This includes up to a total of 1,200 metres of quay wall, a 3,800-metre breakwater, a fully built-out rail platform, and 700,000sqm of terminal yard.
The terminal will provide CMA CGM with a new regional hub and will enable the Group to develop its service offering between Abu Dhabi and South Asia, Western Asia, East Africa, Europe and the Mediterranean as well as the Middle East and the Indian sub-continent.
With this major investment, the CMA CGM Group pushes ahead with its global expansion strategy as a leading terminal operator. The Group currently operates 49 port terminals in 27 countries via its subsidiaries CMA Terminals and Terminal Link.
Khalifa Port, a hub for three of the world’s top four shipping companies.
CMA CGM Group is the third of the world’s top-four shipping entities to join forces with Abu Dhabi’s leading facilitator of trade, logistics and industry. The agreement confirms Khalifa Port’s standing as one of only a few major ports in the world providing hubs for three of the world’s top shipping lines, as well as serving as an instrumental part of the global maritime trade connecting markets from east to west.
CMA CGM, a committed partner to the UAE’s economy
The UAE and Abu Dhabi’s central geographical location, at the center of international trade routes, enables the CMA CGM Group to implement strategic development plans, strengthening its position in the Gulf and providing the best services to meet its customers’ needs.
Present in the UAE for 15 years, the CMA CGM Group employs around 450 people working within 10 offices to provide customers with the best maritime and logistics service solutions. The Group connects the UAE to the world with 13 weekly services to 9 ports.
H.E. Falah Mohammed Al Ahbabi, Chairman of AD Ports Group, said: “One of the key factors that has greatly contributed to the economic growth of Abu Dhabi and the UAE has been our stable economic environment that is ripe for foreign investment. Coupled with competitive free zone and business engagement initiatives that aid foreign businesses in establishing a presence in the country with ease, the UAE has become a key investment destination among many of the world’s leading players seeking to extend their reach into the Middle East.
“This landmark agreement with the CMA CGM Group is a prime example of those continued efforts and one that will significantly accelerate trade and the development of industry in the UAE and beyond.”
“As well as driving increased trade volumes through our port and elevating the UAE’s economic development, we expect the facility’s capacity and added trade links with other high-profile port destinations will drive investment into local businesses and our industrial zones, fast-track the development of key sectors including manufacturing and logistics, and raise demand for manpower.”
“This agreement will aid us to realise our long-term ambitions to become a top 10 ports, industrial, and logistics operator by expanding our capacity and growth across the region and beyond. In all, we project that over the next five years the CMA Terminals joint venture will drive the further development of the Khalifa Industrial Zone Abu Dhabi (KIZAD), while simultaneously contributing significantly to the national GDP.”
Captain Mohamed Juma Al Shamisi, Group CEO, AD Ports Group, said: “The addition of a new container terminal at Khalifa Port, which will be managed by a joint venture formed in collaboration with CMA Terminals, opens a new chapter in our organisation’s efforts to become a key facilitator of global trade, and elevates Abu Dhabi’s standing as both a regional and an international hub for maritime trade.
“With the addition of another leading worldwide shipping group company, will make Khalifa Port a hub for three of the world’s top four shipping companies. This addition creates opportunities to open trade routes to new markets in Europe, Africa, Western Asia, and South Asia. At home, we expect the presence of the shipping line terminal, which will link directly to Khalifa Port’s upcoming rail terminal and utilise its services, to accelerate trade flows moving in and out of the UAE, while also encouraging CMA CGM Group’s customers to consider establishing a presence in Abu Dhabi.”
Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said: “The ambitious project we are launching today in Abu Dhabi marks an important milestone in CMA CGM’s development strategy in the region.
This state-of-the-art terminal will contribute to enhancing Khalifa Port’s position as a leading global hub and to boosting the region's economy, accelerating trade flows in and out of Abu Dhabi.
It will also enable our Group to expand its shipping and logistics network in the region, where we see a lot of growth potential.”
To view a video on the agreement, please visit: https://youtu.be/hvW0sgIOonY.
About AD Ports Group:
About AD Ports Group:
For more information, please visit: adports.ae
Twitter @AbuDhabiPorts
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Facebook: facebook.com/AbuDhabiPorts
About CMA CGM
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*Source: AETOSWire
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Sana Maadad
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With a Focus on Reducing Operational Emissions by 42 Percent by 2030, Western Digital’s Goals Will Put It on a Trajectory to Meet or Exceed the Guidance in the Paris Climate Agreement
SAN JOSE, Calif.--(BUSINESS WIRE)--Western Digital (NASDAQ: WDC) announced today that the Science Based Targets initiative (SBTi), has approved its greenhouse gas emissions reduction goals, which are in line with the Paris Agreement and SBTi criteria and requirements. Science-based targets are emissions reduction goals in line with what the latest climate science says is needed to prevent the worst impacts of climate change.
“Committing to these aggressive science-based targets is the right thing to do for the planet, society, our customers and employees. The next few years are critical, and companies have a vital role to play in helping achieve transformation at the pace and scale that is needed,” said Joshua Parker, senior director, Corporate Sustainability, Western Digital. “We are already making rapid progress in reducing our emissions, demonstrating our commitment to building a sustainable economy.”
A partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature, the SBTi helps companies establish science-based targets to reduce greenhouse gas emissions and transform business operations to fit the future low-carbon economy.
SBTi offers organizations two different ambition levels in its pursuit to reduce greenhouse emissions: the Standard Commitment to limit global warming to well below 2°C above pre-industrial levels and a more demanding 1.5°C trajectory commitment, consistent with the conclusions in the Paris Climate Agreement.
Western Digital has committed to the more aggressive 1.5°C path.
"We congratulate Western Digital on setting science-based targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement," said Alberto Carrillo Pineda, Managing Director, Science Based Targets at CDP, one of the Science Based Targets initiative partners. "By setting ambitious science-based targets grounded in climate science, Western Digital is taking action to prevent the most damaging effects of climate change."
Under its new targets, Western Digital commits to reduce its Scope 1 and 2 emissions by 42% by 2030, from a 2020 base year. The company is also adopting a Scope 3 target to reduce the emissions intensity of its products by 50% by 2030.
To achieve these goals, Western Digital will focus primarily on energy reductions through increased operational efficiencies, adoption of on-site solar, and direct procurement of renewable energy. The company is making progress in several areas:
To learn more about Western Digital’s sustainability activities, please visit the Western Digital sustainability website.
About Western Digital
Western Digital creates environments for data to thrive. As a leader in data infrastructure, the company is driving the innovation needed to help customers capture, preserve, access and transform an ever-increasing diversity of data. Everywhere data lives, from advanced data centers to mobile sensors to personal devices, our industry-leading solutions deliver the possibilities of data. Western Digital data-centric solutions are comprised of the Western Digital®, G-Technology™, SanDisk® and WD® brands.
Forward-Looking Statements
This news release contains certain forward-looking statements, including the company’s Scope 1, 2 and 3 greenhouse gas emission reduction goals. There are a number of risks and uncertainties that may cause these forward-looking statements to be inaccurate including, among others: future responses to and effects of the COVID-19 pandemic; volatility in global economic conditions; impact of business and market conditions; impact of competitive products and pricing; our development and introduction of products based on new technologies and expansion into new data storage markets; risks associated with cost saving initiatives, restructurings, acquisitions, divestitures, mergers, joint ventures and our strategic relationships; difficulties or delays in manufacturing or other supply chain disruptions; hiring and retention of key employees; our substantial level of debt and other financial obligations; changes to our relationships with key customers; disruptions in operations from cyberattacks or other system security risks; actions by competitors; risks associated with compliance with changing legal and regulatory requirements and the outcome of legal proceedings; and other risks and uncertainties listed in the company’s filings with the Securities and Exchange Commission, including the company’s most recently filed periodic report, to which your attention is directed. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.
Lisa Neitzel
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T. Peter Andrew
Western Digital Investor Relations
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SAN RAMON, Calif. & ENGLEWOOD, Colo.--(BUSINESS WIRE)--Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), and Gevo, Inc. (NASDAQ: GEVO) today announced a letter of intent to jointly invest in building and operating one or more new facilities that would process inedible corn to produce sustainable aviation fuel, which can lower the lifecycle carbon intensity of fuels used in the aviation industry. The new facilities would also produce proteins and corn oil.
Through the proposed collaboration, Gevo would operate its proprietary technology to produce sustainable aviation fuel and renewable blending components for motor gasoline to lower its lifecycle carbon intensity. In addition to co-investing with Gevo in one or more projects, Chevron would have the right to offtake approximately 150 million gallons per year to market to customers.
“Chevron is providing our customers with next-generation renewable fuels that can help them lower their overall carbon footprint,” said Mark Nelson, executive vice president of Downstream & Chemicals for Chevron. “This potential investment leverages Gevo’s innovative approach to producing sustainable aviation fuel, complementing other renewable fuels investments we are making as part of our higher returns, lower carbon strategy.”
“We are pleased to collaborate with Chevron, who is willing to co-invest in building out Gevo's capacity to produce renewable, high-performing hydrocarbons that can be used in existing equipment and engines. Chevron’s advantaged market position would allow it to offtake production from this venture, helping to place sustainable aviation fuel with airline customers,” commented Dr. Patrick Gruber, chief executive officer of Gevo.
The proposed investment is subject to the negotiation of definitive agreements with customary closing conditions, including regulatory approval. Further information regarding the letter of intent between Gevo and Chevron U.S.A. can be found in the Current Report on Form 8-K filed by Gevo with the U.S. Securities and Exchange Commission on September 9, 2021.
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.
About Gevo, Inc.
Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.
Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI. Learn more at Gevo’s website: www.gevo.com
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during extended periods of low prices for crude oil and natural gas during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company's ability to achieve the anticipated benefits from the acquisition of Noble Energy, Inc.; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company's 2020 Annual Report on Form 10-K and in other subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Forward-Looking Statements Regarding Gevo, Inc.
Certain statements in this press release may constitute “forward-looking statements” regarding Gevo, Inc. (“Gevo”) within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, statements related to expectations of the agreements between Gevo and Chevron, the potential investment in Gevo’s projects, and the volume of sustainable aviation fuel to be produced under the agreement, Gevo’s technology, Gevo’s products, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.
Tyler Kruzich, Chevron
Phone: 925-549-8686
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Gevo Investor and Media Contact
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New Consultancy Exclusively for Climate Tech Companies and Initiatives is Led by Josh Garrett, a PR Professional with 17 Years Experience and Masters in Environmental Science and Policy from Columbia University.
NEW YORK--(BUSINESS WIRE)--Redwood Climate Communications launched today to bring a uniquely impact-focused approach to public relations for climate tech startups, companies, and corporate initiatives. Redwood will focus on the climate and business impact its clients are making through communications initiatives and building the right combination of activities to realize those goals, whether they are measured in dollars, CO2 emissions removed or avoided, customers earned, or all of the above. Redwood will provide four essential communications services: strategic counsel, writing, strong media relations, and marketing content and consultation.
Redwood Climate Communications is led by Josh Garrett, an expert in climate tech and 17-year veteran of the communications profession, with over a decade focused solely on climate technology and initiatives. Garrett has diverse experience in the nonprofit and private sectors, and counts Google Nest, Sunrun, QuantumScape and Stem among the companies he has worked with.
“The climate crisis is humanity’s greatest challenge, and every profession has a role to play in meeting that challenge,” said Garrett. “For communications professionals, our role is to educate diverse audiences about what’s required to curb the crisis, and which organizations are offering the most effective and promising solutions. That’s why we founded Redwood--to devote an entire firm, stocked with communications professionals who are also experts in the science and economics underlying climate solutions, to tell the fascinating stories of the people and organizations behind them.”
With climate change-driven disasters ravaging the U.S. and the world, the need for developing and deploying new technologies to mitigate the crisis and adapt to a new reality has never been more urgent. At the same time, global markets are recognizing this need and the value of the companies addressing it; climate tech companies have raised $14.2 billion in capital in just the first half of 2021, and global investors have already closed as many climate-focused funds as were raised during the previous five years combined. With environmental, social and governance (ESG) considerations shifting from an outlier investment class to a central rubric for measuring performance and growth potential of all companies, participants in this investment boom range from retail investors to world’s largest hedge funds. And the future looks bright for climate tech businesses: the global green technology and sustainability market is expected to grow from $11.2 billion in 2020 to $36.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 26.6%.
Innovators around the world have made amazing progress on creating and deploying climate technologies over the last 20 years, but many require expert guidance to help tell their organizations’ stories and reach key audiences like investors, corporate partners, policymakers and customers. To provide that guidance to climate tech organizations at all growth stages, Redwood brings unmatched knowledge of climate technology and business, as well as its team’s proven track record of planning and executing successful campaigns, to its clients. Redwood works with any organization whose central function contributes to climate change mitigation or adaptation, including the clean energy, advanced mobility, grid management, distributed energy resources (DER), ag tech, water tech and circular economy sectors, among many others.
Redwood launches with clients across the CO2 capture, mobility, and non-profit sectors. Redwood Climate Communications is a Strange Brew Strategies company, able to leverage the resources and talents of an award winning PR agency that works with many of the biggest and most powerful companies in technology today. Strange Brew Strategies co-founders Dave Donohue and John O’Brien serve on Redwood’s board of directors.
About Redwood Climate Communications
Redwood is a communications and PR consultancy that combines deep understanding of climate tech with expertise in strategic communications and media relations. We have worked with startups in renewable energy, grid edge, battery tech, EV and EV charging; we’ve also helped some of the biggest brands in cleantech and sustainability tell their stories at pivotal points in their evolution. We provide climate mitigation and adaptation organizations with the strategy, writing, media relations and marketing content they need to enhance their climate impact and grow their revenue. Learn more at www.redwoodclimatecomms.com.
About Strange Brew Strategies (SBS)
SBS is a technology public relations agency with deep expertise in artificial intelligence, enterprise software, financial services, fintech, robotics, silicon and chips, among other next-frontier technologies. SBS has stripped the bland, programmatic, and systematic nature of PR engagements down to focus on business strategy, creative thinking, big stories, real results, and impactful content marketing for many of the biggest and most powerful technology companies in the world. SBS is headquartered in San Francisco with resources in Denver, Los Angeles, New York, Portland, Seattle, and Washington D.C.
Josh Garrett
Redwood Climate Communications
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MOUNTAIN IRON, Minn.--(BUSINESS WIRE)--Heliene, a Customer-First provider of North American made solar modules, today announced a $21 million investment in a new manufacturing facility located in Mountain Iron, Minnesota, bringing the company’s total manufacturing capacity to 900 megawatts (MW). Heliene has experienced significant growth since starting its U.S. operations in Mountain Iron in 2017. Construction will commence this September, adjacent to the existing facility, with manufacturing set to begin in June 2022. The expansion will enable Heliene to meet accelerating solar demand while ensuring certainty and high quality of the U.S. solar supply chain, in alignment with the Biden Administration’s clean energy goals.
“The State of Minnesota is proud to collaborate with Heliene and the City of Mountain Iron to expand Minnesota’s largest solar panel manufacturer to bring jobs to the region. This is a good day for the Iron Range, and a good day for Minnesota’s clean energy economy,” said Minnesota Governor Tim Walz.
The construction of a new building will expand the Mountain Iron campus to a total of 95,000 square feet and will bring an additional 60 high paying clean energy jobs to the area, further diversifying employment opportunities in the region. The manufacturing line will feature advanced automation technologies to enhance production efficiency, product quality and safety, while providing employees the opportunity to upskill, focus on higher order tasks and adapt to the Industry 4.0 era. Production will focus on the manufacturing of solar modules with M6, M10 and M12 size super high efficiency Monocrystalline PERC cells.
“Amid consistently strong solar demand and trade volatility, our customers seek peace of mind that they are receiving the highest quality, competitively priced solar modules exactly when and where they need them,” said Martin Pochtaruk, chief executive officer, Heliene. “The investment in this ultra-efficient new manufacturing line will significantly increase the rate of American Made module delivery while eliminating costly supply chain risks for customers.”
“A strong manufacturing industry is key to our state’s economic prosperity,” said U.S. Senator Amy Klobuchar. “The expansion of this plant will make Heliene the second largest solar panel manufacturing plant in the U.S., creating good-paying jobs and enhancing our supply chains. I’m committed to supporting our country’s transition to a clean energy future and will continue working to strengthen this sector in Minnesota.”
As part of efforts to grow clean energy markets in the region and create manufacturing jobs, several public organizations provided funding to Mountain Iron’s Economic Development Authority (EDA) to support Heliene’s expansion. The Minnesota Department of Employee and Economic Development and Iron Range Resources & Rehabilitation, each provided a $2.75 million loan to the EDA.
In addition, Heliene received a $5.5 million grant from the State of Minnesota’s Renewable Development Account, which funds projects that boost the state’s electrification and climate change abatement efforts. St. Louis County, where the Mountain Iron plant is located, awarded Heliene a $1 million grant as well.
“Heliene is one of the fastest-growing producers of solar panels in North America and we could not be happier that they are expanding production in Mountain Iron, Minnesota,” said State Senator David Tomassoni. “The state’s investment in Heliene will create jobs on the Iron Range and help us to deliver solar energy to the rest of the state and nation.”
“Minnesotans know that clean energy is key to our economic future. With this expansion, Heliene will create more Minnesota jobs while building up manufacturing supply chains in the solar industry,” said Senator Tina Smith of Minnesota. “We can either lead or follow when it comes to the clean energy transition, and projects like this show that Minnesota is ready to lead.”
“This significant investment in Minnesota’s legendary Iron Range further highlights the need to responsibly develop our abundance of critical minerals located here in the Duluth Complex to be used in renewable energies like the ones produced by Heliene. I look forward to the day when we can say that these goods are manufactured in Minnesota and mined in Minnesota,” said Congressman Pete Stauber (MN-08).
In August, Heliene announced its third North American manufacturing facility located in Riviera Beach, Florida. Heliene’s Florida facility is the only solar module plant in the U.S. to produce super high-efficiency heterojunction solar cell modules for commercial and residential applications.
As a member of the Solar Energy Manufacturing for America (SEMA) Coalition and the Minnesota Solar Energy Industries Association (MnSEIA), Heliene is committed to generating well-paying manufacturing jobs in the U.S. and strengthening America’s solar supply chain to accelerate clean energy adoption and reach national decarbonization targets.
About Heliene
Heliene is one of North America’s fastest-growing domestic module manufacturers serving the utility-scale, commercial, and residential markets. With an in-house logistics team and remarkably responsive support staff, Heliene delivers competitively priced, high performance solar modules precisely when and where customers need them to accelerate North America’s clean energy transition. Founded in 2010, Heliene consistently ranks as a Bloomberg New Energy Finance Tier 1 module manufacturer and has production facilities located in Canada, Minnesota and Florida. For more information, visit www.heliene.com.
For media inquiries, please contact:
Annika Harper
PR Director
Antenna Group
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The research also reveals super-majority of California voters strongly support transitioning away from the use of diesel-fired generators
SAN JOSE, Calif.--(BUSINESS WIRE)--A new survey of 600 likely California 2022 voters finds both a growing concern about key energy issues facing the State and increased support for government efforts to shift California to cleaner and more renewable sources of energy. More specifically, these poll results show that California voters broadly support a range of State policies to encourage decarbonization efforts and facilitate the development of fuel cell microgrids.
California voters are increasingly concerned about climate change and its impacts, with 85 percent surveyed ranking wildfires as an extremely or very serious problem. Only homelessness was seen as a more serious problem in the survey conducted by California-based FM3 Research.
Also of growing concern to likely 2022 voters is the effects of drought, with four out of five of those surveyed listing it as an extremely or very serious problem. The impact of climate change and extreme weather on California has also grown to historic highs, with two-thirds of voters now ranking it as an extremely or very serious problem.
As voters focus on the problems of fire, drought and climate change, they are showing a growing uneasiness with the negative effects of diesel-generated solutions being used to provide backup power across the State. The poll shows that only 22 percent of voters supported increasing diesel generation to provide emergency back-up power, with 58 percent expressing a desire to see diesel generation reduced.
In contrast, two-thirds of voters would like to see an increase in non-combustion fuel cells that virtually eliminate local smog-forming air pollution as a back-up power option.
“As soon as voters understand how fuel cells work and how the technology reduces harmful local pollution, they demonstrate strong support for using fuel cells to make the grid more resilient and safer,” said FM3 lead researcher Dave Metz.
When the science of fuel cells was explained to voters in the following language, support for their widespread adoption rose to 80 percent:
“Next, I’d like to tell you a bit more about non-combustion fuel cells. Fuel cells are a technology that generate electricity from natural gas, biogas, or hydrogen found in water, without releasing local air pollution like smog and particulate matter. Fuel cells installed at local sites are designed to serve as an alternative to the electric grid, providing reliable, locally-generated clean energy that is available 24 hours per day at locations such as hospitals, grocery stores, universities, and data centers – as well as other businesses and homes. The technology continues to evolve and has recently been adapted to use hydrogen, with no CO2 emissions, to generate electricity. Do you support or oppose increasing the use of non-combustion fuel cells in California?”
Voters also broadly support increasing the use of non-combustion fuel cells as part of the State’s transition to 100 percent clean energy, expressing preference for the use of fuel cells over diesel generators. By a 62-point margin, voters also expressed strong support for the specific benefits of wider adoption of fuel cell technology, particularly making the electricity grid more resilient, reducing the threat of wildfires by supporting microgrid technology, and providing reliable energy during Public Safety Power Shutoffs.
The poll was commissioned by Bloom Energy and conducted by FM3 Research to assess voters’ attitudes toward key California energy issues and understanding of the role fuel cells can play in meeting critical capacity needs in the State, bolstering power resiliency, and providing a pathway to greener and cleaner forms of energy. The poll was conducted from August 2nd to 5th, before the Caldor Fire, which has likely increased concern over extreme weather and the impacts of climate change.
The solid oxide fuel cells manufactured in California by Bloom Energy use natural gas, biogas or hydrogen to generate on-site electricity without combustion and virtually no harmful, smog-forming emissions. The technology is dramatically cleaner now than alternatives and is engineered to use 100 percent greenhouse gas-free sources, like hydrogen and biogas, as they become available. Bloom Energy’s fuel cells consume almost no water during operation, which is particularly critical during times of drought. Since 2011, Bloom Energy’s systems have saved more than 291 billion gallons of water.
Considering these facts, voters see non-combustion fuel cells as the smarter alternative to air polluting diesel generation during power outages, with an overwhelming 72 percent of voters preferring fuel cells and just 17 percent supporting diesel.
As a part of building decarbonization policies, seven in ten voters support allowing continued use of non-combustion fuel cells as an alternative to natural gas-fired power plants and diesel generators. Voters also strongly supported policies making it easier and more affordable to install fuel cell technology – particularly when the issue was explained in the following manner:
“Next, let me ask you about another issue. State government is currently considering a policy that would make it easier for property owners to install non-combustion fuel cells on their property, based on a long-term agreement for how the energy they produce would be connected to and integrated with California’s energy grid. Does this sound like something you would support or oppose?”
Furthermore, FM3 Research’s survey shows that approximately two-thirds of California voters oppose allowing utilities to charge a fee to customers who want to install a non-combustion fuel cell to generate clean energy locally.
“This research underscores the fact that Californians embrace non-combustion fuel cell technology, which brings clean, resilient and cost-predictable energy to help the State address the growing danger of extreme weather, power blackouts, droughts and climate change,” said Carl Guardino, executive vice president of government affairs and policy, Bloom Energy. “The distinct advantages offered by non-combustion fuel cells – namely the virtual elimination of local emissions, lack of water use and ability to use clean hydrogen as a fuel source – are preferred over diesel generators and natural gas-fired plants as part of the State’s energy transition.”
FM3 Research’s full report on the survey findings can be found at: https://www.bloomenergy.com/wp-content/uploads/fm3-research-ca-vote-views-of-key-energy-issues-aug-2021.pdf
About FM3 Research
FM3 Research is a California-based company that has been conducting public policy-oriented opinion research since 1981. With offices in Los Angeles and Oakland, the firm conducts research for businesses, non-profit groups, elected officials and ballot measure campaigns across the country. FM3 has provided polling to hundreds of California legislators, members of Congress, and local elected officials over its four decades conducting research in the state.
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. Bloom’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Words such as “anticipates,” “could,” “expects,” “intends,” “plans,” “projects,” “believes,” “seeks,” “estimates,” “can,” “may,” “will,” “would” and similar expressions identify such forward-looking statements. These statements include, but are not limited to, expectations regarding our solid oxide fuel cells and the potential application of fuel cells; and the distinct advantages offered by non-combustion fuel cells. These statements should not be taken as guarantees of results and should not be considered an indication of future activity or future performance. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including those included in the risk factors section of Bloom Energy’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 and other risks detailed in Bloom Energy’s SEC filings from time to time. Bloom Energy undertakes no obligation to revise or publicly update any forward-looking statements unless if and as required by law.
Jennifer Duffourg
Bloom Energy
+1 (480) 341-5464
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CALGARY, Canada--(BUSINESS WIRE)--$BLN #chemical--Blackline Safety Corp. (TSX: BLN), a global leader of gas detection and connected safety solutions, today announced it has partnered with Houston-based Vlahi Systems, provider of cloud-hosted, sensor driven gas plume dispersion modelling software.
Optimizing chemical release monitoring and response through improved accuracy of modeling
Through the partnership, Vlahi will integrate the real-time, location-enabled data from Blackline’s G7 EXO portable area gas monitors into their web- and smartphone-based CERES plume modelling software. The solution is ideal for managing scenarios related to chemical release and gas clouds that can harm personnel and surrounding communities, or trigger fires or explosions.
Using G7 EXO gas readings, CERES can automate and deliver the most accurate, up-to-date mapping of a gas plume, based on real-world conditions, to assist emergency personnel in their response.
“Our partnership with Vlahi is a great example of how our connected safety solutions can help leading enterprises manage their risk and prepare to respond to the unexpected release of chemicals and gas,” said Cody Slater, CEO and Chair for Blackline Safety.
“With 100-day battery life, our G7 EXO area gas monitors continuously stream location-enabled gas readings and alerts to the Blackline Cloud — and now CERES — to provide the ultimate visibility into a worksite. This partnership will help our clients better manage their response to keep workers and communities safe.”
“Integrating Blackline sensors with CERES Sensor Driven Plume, bridges the gap of unknowns involved with plume modeling and makes it accessible to a wider range of emergency responders and situations,” said Cristian Stochina, Founder and Managing Partner of Vlahi Systems.
“Combining CERES with Blackline’s direct-to-cloud communication — with no configuration required — you get the first anytime, anywhere, any device system that can go beyond point-sensor values in current time and predict an integrated threat area and where that threat is headed.”
Blackline has opened an early access program for Blackline clients and interested businesses adopters to get first-hand experience with CERES cloud software, powered with real-time environmental readings streamed from cloud-connected G7 EXO area gas monitors.
Blackline will showcase CERES sensor driven plume dispersion software with G7 EXO real-time gas readings in booth 2311 at the NSC Congress & Expo in Orlando, from Oct 11–13, 2021.
About Vlahi Systems
Vlahi Systems LLC, is a Houston-based technology company with a mission to deliver the most cost effective and feature-rich emergency response solutions to planners, responders, chemical plants, government organizations and the transportation industry. With thousands of users distributed across more than 100 countries, CERES (Chemical Emergency Response E-Service) is a software-as-a-service application, accessible through web and smart-device apps. CERES delivers an industry-leading user experience for planning, responding to, and analyzing chemical, fire and explosion events — anytime, anywhere and on any device, before, during or after a chemical incident. For more information, visit www.vlahi.com.
About Blackline Safety
Blackline Safety is a global connected safety leader that helps to ensure every worker gets their job done and returns home safely each day. Blackline provides wearable safety technology, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and increase productivity of organizations with coverage in more than 100 countries. Blackline Safety wearables provide a lifeline to tens of thousands of men and women, having reported over 155 billion data-points and initiated over five million emergency responses. Armed with cellular and satellite connectivity, we ensure that help is never too far away. For more information, visit www.BlacklineSafety.com and connect with us on Facebook, Twitter, LinkedIn and Instagram.
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Blackline Safety
Christine Gillies, CMO
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Solar rooftops installed on temples and industrial parks saw a 30% reduction in energy costs compared to a traditional wired solution
CAMARILLO, Calif.--(BUSINESS WIRE)--#Chip--Semtech Corporation (Nasdaq: SMTC), a leading supplier of high performance analog and mixed-signal semiconductors and advanced algorithms, announced its collaboration with Cloud Energy, a leading Internet of Things (IoT) solution provider in Vietnam, for the development and deployment of a network running on the LoRaWAN® standard for a wireless solar power system installed on facility rooftops. A wired energy solution did not fit a rooftop solar power system due to higher hardware and installation costs as well as a higher level of ongoing required maintenance, particularly in rural areas of Vietnam where rodent damage to cabling is a particular issue. Cloud Energy’s wireless solar power system featuring Semtech’s LoRa® devices and LoRaWAN connectivity provides comprehensive, accurate and independent data management from inverters, electricity meters and sensors to inform site owners. According to Cloud Energy, the solar power system solutions saved their customers more than 30% on initial investment for a monitoring system.
“We believe that the future of monitoring solutions will largely adapt to LoRaWAN wireless technology, which is highly scalable, simple to deploy and provides a reliable wireless connection. Solar power monitoring solutions that use LoRaWAN technology may be a new future trend that not only solves the problem of reliable wireless connectivity, but also provides additional benefits of IoT standardization, scalability, data analytics, and interoperability,” said Tuan Anh Pham, Cloud Energy founder.
The Cloud Energy wireless solar power system is a plug-and-play solution consisting of multiple wireless Cloud Energy modules, 1 Kerlink gateway using LoRaWAN and a Cloud Energy web-app to monitor real-time data to review and forecast performance independently across meters, inverters and sensors. Through the integration of LoRaWAN, the Cloud Energy solar power system is a true wireless solution offering stable data transmission for end users to manage energy usage across wide areas.
“Cloud Energy’s successful implementation of the LoRaWAN standard for its wireless solar power systems showcases the versatility of the Internet of Things technology to adapt to nearly any setting and budget. The robust connectivity from LoRaWAN is creating smarter buildings for more informed business decisions,” said Marc Pégulu, vice president of IoT product marketing and strategy for Semtech’s Wireless and Sensing Products Group.
For more information on Cloud Energy’s smart solar solution with LoRaWAN, please visit here.
About Semtech’s LoRa® Platform
Semtech’s LoRa device-to-Cloud platform is a globally adopted long range, low power solution for IoT applications, enabling the rapid development and deployment of ultra-low power, cost efficient and long range IoT networks, gateways, sensors, module products, and IoT services worldwide. Semtech’s LoRa devices provide the communication layer for the LoRaWAN® standard, which is maintained by the LoRa Alliance®, an open IoT alliance for Low Power Wide Area Network (LPWAN) applications that has been used to deploy IoT networks in over 100 countries. Semtech is a founding member of the LoRa Alliance. To learn more about how LoRa enables IoT, visit Semtech’s LoRa site.
About Cloud Energy
Cloud Energy Company is a startup in Vietnam, established in 2019, specialized in IoT (Internet of Things) energy management for smart cities. The company has successfully developed solutions for smart energy building management, smart utilities management and smart solar monitoring systems. Our mission is to contribute to the future smart and sustainable cities development. For more information, visit www.cloudenergy.sg.
About Semtech
Semtech Corporation is a leading supplier of high performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The Company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the NASDAQ Global Select Market under the symbol SMTC. For more information, visit www.semtech.com.
Forward-Looking and Cautionary Statements
All statements contained herein that are not statements of historical fact, including statements that use the words “believe,” “designed to” or other similar words or expressions, that describe Semtech Corporation’s or its management’s future plans, objectives or goals are “forward-looking statements” and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Semtech Corporation to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors are further addressed in Semtech Corporation’s annual and quarterly reports, and in other documents or reports, filed with the Securities and Exchange Commission (www.sec.gov) including, without limitation, information under the captions “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors.” Semtech Corporation assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.
Semtech, the Semtech logo and LoRa are registered trademarks or service marks of Semtech Corporation or its affiliates.
SMTC-P
Linh Dinh
Semtech Corporation
(805) 250-1263
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DUBLIN--(BUSINESS WIRE)--The "Marine Hybrid Propulsion Global Market Report 2021: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global marine hybrid propulsion market.
This report focuses on marine hybrid propulsion market which is experiencing strong growth. The report gives a guide to the marine hybrid propulsion market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
The global marine hybrid propulsion market is expected to grow from $2.88 billion in 2020 to $3.10 billion in 2021 at a compound annual growth rate (CAGR) of 7.5%. The growth is mainly due to the increase in international trade, expanding shipbuilding industry, rising demand for electric propulsion technology, and rising shift from conventional to hybrid propulsion units. The market is expected to reach $5.02 billion in 2025 at a CAGR of 12.8%.
Companies Mentioned
Reasons to Purchase
Europe was the largest region in the marine hybrid propulsion market in 2020 The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The launch of integrated propulsion systems has emerged as a key trend in the marine hybrid propulsion market. Major players operating in the marine hybrid propulsion field are focusing on introducing new hybrid propulsion systems to improve performance, environmental compatibility, and propulsion system versatility. For instance, in November 2020, Havyard, a Norwegian shipbuilding group announced that its new hydrogen propulsion system for large ocean-going ships should be completed next year as a potential alternative fuel to help reduce its carbon footprint. It has developed a ship's propulsion systems with integrated LH2 tank and fuel cells.
In June 2020, Gula Skrinet AB, a global supplier of customized marine propulsion systems acquired Caterpillar Propulsion AB for an undisclosed amount. The proposed acquisition develops Gula Skrinet AB's external relationships, products, and services in close cooperation with customers and partners. Caterpillar Propulsion AB is a Sweden-based manufacturer of mechanically and electrically driven propulsion systems and marine controls for ships.
An increase in international trade is contributing to the growth of the marine hybrid propulsion market. Most of the internationally traded goods are transported using cargo vessels and ships. Hybrid propulsion improves the fuel efficiency of vessels with variable power demands. According to the International Chamber of Shipping, in 2019, the total value of the annual world shipping trade had reached more than $14 trillion. Moreover, nearly 2 billion tons of crude oil, 1 billion tons of iron ore, 350 million tons of grains, and 11 billion tons of goods are transported by ship each year and about 90% of the world trade is carried by the shipping industry. Thus, the surge in international trade boosts the number of cargo vessels and ships fleet and which in turn, drives the market for marine hybrid propulsion.
The countries covered in the marine hybrid propulsion market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
For more information about this report visit https://www.researchandmarkets.com/r/m7abbc
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SAN RAMON, Calif. & LAKE MARY, Fla. & HOLLADAY, Utah--(BUSINESS WIRE)--#BESS--Chevron U.S.A. Inc., through its Chevron New Energies division, announced it has agreed on a framework to acquire an equity interest in ACES Delta, LLC (ACES Delta), which is a joint venture between Mitsubishi Power Americas Inc. (Mitsubishi Power) and Magnum Development, LLC (Magnum) that owns the Advanced Clean Energy Storage project. This project will produce, store and transport green hydrogen at utility scale for power generation, transportation and industrial applications in the western United States.
The joint venture is located in Delta, Utah, adjacent to the Intermountain Power Plant, which will use green hydrogen to produce electricity with lower lifecycle carbon emissions. Future anticipated projects include the expansion of green hydrogen supply to other Western states and the construction of connecting hydrogen infrastructure to build a regional hydrogen production, transportation and supply network. Chevron is working to build demand for hydrogen — and the technologies that support it — in heavy-duty transportation and industrial sectors in which greenhouse gas emissions are hard to abate.
“Chevron New Energies was created to grow new competitive business lines in areas like hydrogen,” said Jeff Gustavson, President of Chevron New Energies. “The potential to partner with Mitsubishi Power and Magnum Development on the Advanced Clean Energy Storage project presents an exciting opportunity that would bring together our unique strengths and would provide a scalable platform to supply our customers with affordable, reliable and ever-cleaner energy.”
Paul Browning, President and CEO of Mitsubishi Power Americas, said, “For several years, we’ve been working with early adopters of green hydrogen in the power sector that have easy access to salt domes or existing hydrogen infrastructure, such as the Intermountain Power Agency and Magnum Development. Now it’s time to connect massive geologic hydrogen storage in Delta, Utah, to power, transportation and industrial users throughout the western United States. Chevron’s footprint and expertise in the transportation and industrial sectors make them an ideal partner for this next phase of expansion. Together with our customers and partners, we are creating a Change in Power.”
“I look forward to the opportunity to collaborate with Chevron as a strategic partner in our ACES Delta venture. Chevron’s participation will add tremendous value as we develop a world class — and world’s largest — green hydrogen production and storage facility,” said Craig Broussard, President, CEO and Board Chairman of Magnum Development, LLC. “Combined with Chevron’s in-depth capabilities, the ACES Delta facility will serve as a platform to deliver on our shared vision and continue building our robust pipeline of high quality, actionable projects that will help decarbonize multiple sectors of the U.S. economy.”
ACES Delta is co-owned by Magnum, which is a Haddington Ventures portfolio company, and Mitsubishi Power. Chevron, Magnum and Mitsubishi Power are negotiating definitive documentation outlining Chevron’s participation in the joint venture. The terms of this transaction are subject to the negotiation of definitive agreements, and closing of the transaction will be subject to customary closing conditions.
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.
About Mitsubishi Power Americas, Inc.
Mitsubishi Power Americas, Inc. (Mitsubishi Power) headquartered in Lake Mary, Florida, employs more than 2,300 power generation, energy storage, and digital solutions experts and professionals. Our employees are focused on empowering customers to affordably and reliably combat climate change while also advancing human prosperity throughout North, Central, and South America. Mitsubishi Power’s power generation solutions include gas, steam, and aero-derivative turbines; power trains and power islands; geothermal systems; PV solar project development; environmental controls; and services. Energy storage solutions include green hydrogen, battery energy storage systems, and services. Mitsubishi Power also offers intelligent solutions that use artificial intelligence to enable autonomous operation of power plants. Mitsubishi Power, Ltd. is a wholly owned subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI). Headquartered in Tokyo, Japan, MHI is one of the world’s leading heavy machinery manufacturers with engineering and manufacturing businesses spanning energy, infrastructure, transport, aerospace, and defense. For more information, visit the Mitsubishi Power Americas website and follow us on LinkedIn.
About Magnum Development
Magnum Development, LLC is developing multiple businesses utilizing the only known gulf style salt dome in the West. Magnum businesses include: hydrogen production and storage, compressed air energy storage (CAES), NGLs & refined products storage, crude oil storage, natural gas storage, storage of other industrial gases and salt sales. Located in Millard County, north of Delta, Utah, the 10,000-acre site is strategically located at the crossroads of existing and developing renewable electric, natural gas, petroleum liquids, rail and highway infrastructure.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during extended periods of low prices for crude oil and natural gas during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company's ability to achieve the anticipated benefits from the acquisition of Noble Energy, Inc.; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company's 2020 Annual Report on Form 10-K and in other subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
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Tyler Kruzich
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Launches Climate Video Series Ahead of New York Climate Week
NEW YORK--(BUSINESS WIRE)--Prosek Partners, a global financial marketing communications and special situations firm, has today launched a video series on how the finance industry has the capacity and responsibility to help shape the solutions for the world’s energy transition.
The series, developed in conjunction with Prosek’s sustainable finance consulting partner Blue Dot Capital, features interviews with leaders across the banking and investment management space who have significant climate strategies in place and are actively committed to progressing the transition to a more sustainable energy future.
Jennifer Prosek, CEO and managing partner of Prosek Partners said of the initiative, “We are lucky to work with some of the biggest players in the industry tackling climate change and given our own commitment to the issue, wanted to use our platform to share their thoughtful approaches to address the pressing need for immediate climate action.”
Sharadiya Dasgupta, founding partner of Blue Dot Capital added, “Following the recent IPCC report which reiterated the importance of confronting climate change today, not tomorrow, it is crucial that financial services firms around the world build and implement pragmatic and measurable ESG solutions that target climate change. While there is still a long way to go, we look forward to working closely with our allies in the finance industry to become a part of the solution.”
The full video series can be accessed here: https://www.prosek.com/climate-change-perspectives/
About Prosek Partners
Prosek Partners is among the largest independent communications and marketing firms in the U.S. and one of the few domestic, mid-size firms that offers global capabilities through its London office and international network. Specializing in providing a full range of communications solutions to financial and professional services companies, the firm delivers an unexpected level of passion, creativity and marketing savvy. Prosek Partners’ “Unboxed Communications” approach brings breakthrough ideas to every client engagement. Services include digital and traditional media relations, financial communications, investor relations, transaction services, crisis communications and issues management, digital marketing, design and creative services, content creation, publishing, media training and branded entertainment. The firm has been named an Inc. 5000 Fastest-Growing Company, a “Top Place to Work in PR” by PR News, A New York Observer Power PR firm, and a PRovoke “Best Agency to Work For” and “Agency of the Year.” Prosek Partners is a certified Woman-Owned Business. For more information about Prosek Partners please visit www.prosek.com or follow the agency on Twitter at www.twitter.com/prosekpr.
About Blue Dot Capital
Blue Dot Capital is a strategic sustainable finance consultancy. Blue Dot Capital partners with investors and investment managers to support the development and execution of ESG and impact investing capabilities across asset classes. Blue Dot’s clients and partners include asset- and wealth-management firms, alternative-investment firms and single-family offices. For more information about Blue Dot Capital, please visit www.bluedotcapital.co or follow the firm on LinkedIn at https://www.linkedin.com/company/blue-dot-capital-inc
Blue Dot Capital is a PRI Signatory and a SASB Alliance Member.
Breanna King
Prosek Partners
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TAMPA, Fla.--(BUSINESS WIRE)--Overseas Shipholding Group, Inc. (the “Company” or “OSG”) (NYSE: OSG), a public company focused on providing energy transportation services for crude oil and petroleum products primarily in the U.S. Jones Act market, announced today that the strategic process to explore, review and evaluate a range of strategic alternatives available to the Company to enhance shareholder value that OSG’s Board of Directors had previously commenced, is continuing.
As noted in its previous announcement, the Company’s Board of Directors has not set a timetable for the strategic process, nor has it made any decisions related to strategic alternatives. There can be no assurance that the exploration of strategic alternatives will result in a sale of the Company, or in any other strategic change or outcome. The Company’s current intention is not to disclose developments with respect to the strategic process unless and until the Board has approved a specific course of action, on the recommendation of the special transaction committee, or otherwise determines that disclosure is necessary or appropriate.
About Overseas Shipholding Group, Inc.
Overseas Shipholding Group, Inc. (NYSE: OSG) is a publicly traded company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG’s 22 vessel U.S. Flag fleet consists of three crude oil tankers doing business in Alaska, two conventional ATBs, two lightering ATBs, three shuttle tankers, ten MR tankers, and two non-Jones Act MR tankers that participate in the U.S. Maritime Security Program. OSG also currently owns and operates one Marshall Islands flagged MR tanker which trades internationally.
OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts should be considered forward-looking statements. Words such as “may”, “will”, “should”, “would”, “could”, “appears”, “believe”, “intends”, “expects”, “estimates”, “targeted”, “plans”, “anticipates”, “goal”, and similar expressions are intended to identify forward-looking statements but should not be considered as the only means by which these statements may be made. Such forward-looking statements represent the Company’s reasonable expectations with respect to future events or circumstances based on various factors and are subject to various risks, uncertainties, and assumptions relating to the Company’s operations, financial results, financial condition, business, prospects, growth strategy and liquidity. Accordingly, there are or will be important factors, many of which are beyond the control of the Company, that could cause the Company’s actual results or outcomes, or the timing of certain events, to differ materially from the expectations expressed or implied in these statements, including as a result of the uncertainty associated with being able to identify, evaluate and complete any strategic transaction or alternative, the impact of the announcement of the special transaction committee’s review of strategic alternatives, as well as any strategic transaction or alternative that may be pursued, on the Company’s business, including its financial and operating results and its employees. Undue reliance should not be placed on any forward-looking statements and, when reviewing any forward-looking statements, consideration should be given to factors including, but not limited to, those factors discussed in the Company’s Annual Report on Form 10-K, filed with the SEC on April 1, 2021, and those factors discussed in the Company’s Quarterly Report on Form 10-Q, filed with the SEC on May 7, 2021. Investors should carefully consider these risk factors and the additional risk factors outlined in other reports hereafter filed by the Company with the SEC under the caption “Risk Factors.” The Company assumes no obligation to update or revise any forward-looking statements except as may be required by law. Forward-looking statements in this press release and written and oral forward-looking statements attributable to the Company or its representatives after the date of this press release are qualified in their entirety by the cautionary statement contained in this paragraph and in other reports hereafter filed by the Company with the SEC.
Investor Relations & Media Contact:
Susan Allan, Overseas Shipholding Group, Inc.
(813) 209-0620
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PEMBROKE, Bermuda--(BUSINESS WIRE)--$AXS #insurance--AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited ("AXIS Capital") (NYSE:AXS), today announced three appointments within its US Renewables team, effective immediately. Becky Nace-Grover joins AXIS as a Senior Underwriter, Kamran Hameed joins as a Cross-Class Underwriter, and German Torres joins as an Underwriter. Their responsibilities will include strengthening new and existing broker and partner relationships, as well as developing new business opportunities to continue delivering high-level customer service.
“Given the continued growth of wind, solar and battery energy storage projects in the United States, we are expanding the size of our underwriting team to meet the needs of our insureds and broker partners alike. With their combined industry knowledge and expertise, Becky, Kamran and German will play a vital role in helping us meet the demands of the growing renewable energy market. I am delighted to welcome them to the team,” said Sam Walsh, Head of US Renewable Energy.
Ms. Nace-Grover was previously President of Niche Underwriting at ProSight Specialty Insurance where she oversaw various specialty portfolios, including the Solar Contractor program. Prior to that, she spent six years at GCube Insurance Services as an Underwriter focusing on Wind and Solar clients. She will be based in New York and report to Mr. Walsh.
Mr. Hameed was most recently a Senior Underwriter at Alta Risk LLC, where he worked with an array of renewable energy contractors. Prior to that, he was an Underwriter at AIG for six years. In his new role, Mr. Hameed will be based in Kansas City and report to Mr. Walsh.
Mr. Torres is transferring internally from the AXIS Property and Energy team, where he has underwritten property, political risk and renewable energy business based in Latin America. Prior to joining AXIS in 2019, Mr. Torres was a Property Underwriter at Hannover Re for five years. He is based in San Francisco and also reports to Mr. Walsh.
About AXIS Capital
AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders' equity of $5.4 billion at June 30, 2021, and locations in Bermuda, the United States, Europe, Singapore and Canada. Its operating subsidiaries have been assigned a rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com.
Follow AXIS Capital on LinkedIn and Twitter.
Investors
Matt Rohrmann
AXIS Capital Holdings Limited
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AXIS Capital Holdings Limited
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Lydie Hudson speaks with IHS Markit Senior Vice President and Chief Energy Strategist Atul Arya for a new edition of CERAWeek Conversations – available at https://ondemand.ceraweek.com/cwc
WASHINGTON--(BUSINESS WIRE)--There is an “enormous amount of momentum” leading up to the UN Climate Change Conference of the Parties (COP 26) in Glasgow this November with governments in different regions “getting into the business of being a force for disclosure,” says Lydie Hudson, CEO of Sustainability, Research and Investment, Credit Suisse in the latest episode of CERAWeek Conversations.
In a conversation with Atul Arya, IHS Markit Senior Vice President and Chief Energy Strategist, Hudson says “disclosure is good for capital markets, disclosure is good for investors; it leads to transparency.” While the thrust of disclosure continues to be around climate and climate change, Hudson says that COVID-19 and social unrest of the past year “really pushed the social topic to be almost equal to some of the environmental topics.”
Younger generations will increasingly drive this ESG momentum, Hudson says. “One of the greatest wealth transfers in history is happening or about to happen. The younger generation will be taking up money to invest and they’ll be looking more on ESG factors overall. ESG is much higher on the water fall for the younger generation that is coming.”
Hudson also shares her thoughts on the U.S Securities and Exchange Commission’s forthcoming rules on climate risks and financial disclosures; pursuing “just energy transitions” that account for differences between the developed and developing worlds; and the future evolution of the corporate ESG movement.
“We know that the transition is going to be hard, take a long time and likely be messy,” she says. “But endeavoring on it with transparency and engagement is quite important and I expect that to persist.”
The complete video is available at: https://ondemand.ceraweek.com/cwc
Podcast version available: CERAWeek Conversations is also available via audio podcast on Apple Podcasts, Google Podcasts, Soundcloud, Spotify and Stitcher.
Selected excerpts:
Interview Recorded Monday, August 30, 2021
(Edited slightly for brevity only)
Watch the complete video at: https://ondemand.ceraweek.com/cwc
Recent CERAWeek Conversations segments also include:
About CERAWeek Conversations:
CERAWeek Conversations features original interviews and discussion with energy industry leaders, government officials and policymakers, leaders from the technology, financial and industrial communities—and energy technology innovators.
The series is produced by the team responsible for the world’s preeminent energy conference, CERAWeek by IHS Markit.
The complete episode library is available at https://ondemand.ceraweek.com/cwc.
CERAWeek Conversations is also available via audio podcast on Apple Podcasts, Google Podcasts, Soundcloud, Spotify and Stitcher.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2021 IHS Markit Ltd. All rights reserved.
Jeff Marn
IHS Markit
+1 202 463 8213
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Press Team
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DUBLIN--(BUSINESS WIRE)--The "Global Fire Protection Coatings Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
In this study, fire protection coatings are classified into 2 groups: intumescent coatings and cementitious coatings. Both types protect against 2 types of fire: cellulosic fires (from burning wood and similar materials) and hydrocarbon fires (from burning hydrocarbons such as liquid fuels). Hydrocarbon intumescent, hydrocarbon cementitious, cellulosic intumescent, and cellulosic cementitious coatings are the 4 main product types explored in the study. The key product types, technologies, and end-use applications are discussed. Applications have been quantitatively explained for the 4 main product types with regard to the total fire protection coatings market. All regional markets have been broken down into key sub-regions, and 4 chapters for the 4 major fire protection coating types represent the respective quantitative and qualitative coverage.
The key end-use industries for fire protection coatings considered in the study are upstream oil and gas, marine, downstream oil and gas (refining), petrochemicals, chemicals, heavy machinery, power, other industrial construction, commercial construction, and residential construction. The fire protection coatings market is witnessing rising demand for innovative products that demonstrate not only higher fire ratings that translate into longer evacuation times for occupants inside the structure, but also greater sustainability and ease and speed of production.
In the last few years, a considerable rise in the stringency of regulations and safety advisory has been implemented for augmenting the fire safety of buildings and constructions in various sectors, such as oil and gas, petrochemicals, chemicals, and allied industries. These industrial applications call for the deployment of predominantly hydrocarbon fire protection coatings that meet legislative requirements in the long term. Overall, the rising fire safety stringency followed by end-use industries will drive the market demand for hydrocarbon fire protection coatings in the next few years.
The trend of augmenting the fire safety of critical building structures is increasing in various industries that demonstrate high fire hazard potential (chemicals, petrochemicals, upstream oil and gas, and petroleum refining). With new advantages associated with the novel features of hydrocarbon coatings - such as resistance to damage from impact, abrasion, and vibration caused by deflection of structures during fabrication, transportation, and extreme loading conditions - the demand for hydrocarbon coatings will grow significantly. Low volatile organic compound content and LEED (Leadership in Energy and Environment Design) compliance for coatings promoted by the US Green Building Council are key trends influencing the development of innovative fire protection coatings for premium applications and prices.
Key Topics Covered:
1. Strategic Imperatives
2. Growth Opportunity Analysis, Fire Protection Coatings Market
3. Growth Opportunity Analysis, Hydrocarbon Intumescent Coatings Market
4. Growth Opportunity Analysis, Hydrocarbon Cementitious Coatings Market
5. Growth Opportunity Analysis, Cellulosic Intumescent Coatings Market
6. Growth Opportunity Analysis, Cellulosic Cementitious Coatings Market
7. Growth Opportunity Universe, Fire Protection Coatings Market
For more information about this report visit https://www.researchandmarkets.com/r/xcp0kp
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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NEW YORK & PHOENIX--(BUSINESS WIRE)--Blade Air Mobility, Inc. (Nasdaq:BLDE, “Blade” or the “Company”), a technology-powered global air mobility platform, today announced that it has entered into a definitive agreement to acquire Trinity Air Medical, Inc. (“Trinity”), a nationwide, multi-modal organ logistics and transportation company. The transaction is expected to close during the week of September 13, 2021, subject to customary closing conditions.
“Trinity’s long-term relationships with organ procurement organizations and transplant centers are a testament to their high-touchpoint approach to organ air transportation, providing seamless solutions for their clients, a perfect fit with Blade’s culture of 24/7 availability and mission redundancy,” said Rob Wiesenthal, Blade’s Chief Executive Officer. “Trinity’s end-to-end services integrate air missions with ground transport. Given the existence of landing pads at most hospitals today, we have the ability to immediately replace Trinity’s ambulances with helicopters on certain hospital-to-hospital missions, while preparing for a transition to both existing ‘last-mile’ cargo drones as well as Electric Vertical Aircraft, as soon as they become available.”
“Recent advances in organ preservation technology have resulted in consistently increasing demand for point-to-point organ air transport over longer distances,” said Seth Bacon, CEO of Trinity. “Blade’s scale in air transport missions coupled with their aerospace manufacturer relationships position us to continue expanding share in today’s growing market, while laying the groundwork to deploy forthcoming drone and Electric Vertical Aircraft technology, which will reduce transit times and improve patient outcomes.”
“Like Blade, Trinity is asset-light and neither owns nor operates aircraft, thus rapid expansion is not capital intensive. We expect the combination of Trinity’s substantial flight volume with Blade’s fast-growing MediMobility business to create the largest dedicated organ air transport company in the United States and enable us to secure more dedicated aircraft, resulting in better availability and pricing for the hospitals we collectively serve,” said Will Heyburn, Blade’s Chief Financial Officer. “Trinity’s consistent growth and positive EBITDA contribution will fortify Blade’s financial position while providing additional operating leverage for the broader Blade platform.”
“We are already working hand-in-hand with Blade’s MediMobility team on organ air transport missions,” said Scott Wunsch, COO of Trinity. “We look forward to implementing best practices from both organizations, which I am confident will result in faster, more efficient and more cost-effective service for our collective client base.”
Transaction Highlights:
About Blade Urban Air Mobility
Blade is a technology-powered, global air mobility platform committed to reducing travel friction by providing cost-effective air transportation alternatives to some of the most congested ground routes in the U.S. and abroad. Today, the company predominantly uses helicopters and amphibious aircraft. Its asset-light model, coupled with its exclusive passenger terminal infrastructure, is designed to facilitate a seamless transition to Electric Vertical Aircraft ("EVA" or “eVTOL”), enabling lower cost air mobility to the public that is both quiet and emission-free.
For more information, visit www.blade.com.
About Trinity Air Medical
Trinity Air Medical, with headquarters in Tempe, Arizona, was founded by healthcare professionals who recognized a need for a professional and reliable organ logistics and transportation service. Trinity’s mission is to partner with organ procurement organizations and organ transplant centers around the United States to maximize organs available for transplant.
For more information, visit www.trinityairmedical.com.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and may be identified by the use of words such as “anticipate”, “believe”, “could”, “continue”, “expect”, “estimate”, “may”, “plan”, “outlook”, “future” and “project” and other similar expressions and the negatives of those terms. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to Blade’s future prospects, developments and business strategies. In particular, such forward-looking statements include statements concerning the benefits of the transaction involving Blade and Trinity, including future financial and operating results, the combined company's plans, objectives, expectations and intentions. These statements are based on management’s current expectations and beliefs, as well as a number of assumptions concerning future events. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blade’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include: risks associated with the ability to consummate the Trinity transaction and the timing of the closing of the transaction; the ability to successfully integrate Blade and Trinity operations and employees; the ability to realize anticipated benefits and synergies of the Trinity transaction; the potential impact of the announcement of the Trinity transaction or consummation of the transaction on relationships, including with employees, customers and competitors; the ability to retain key Trinity personnel; the ability to achieve performance targets; loss of our customers; decreases in our existing market share; effects of competition; effects of pricing pressure; the inability of our customers to pay for our services; the loss of our existing relationships with operators; the loss of key members of our management team; changes in our regulatory environment, including aviation law and FAA regulations; the inability to implement information systems or expand our workforce; changes in our industry; heightened enforcement activity by government agencies; interruptions or security breaches of our information technology systems; the expansion of privacy and security laws; our ability to expand our infrastructure network; our ability to identify, complete and successfully integrate future acquisitions; our ability to remediate any material weaknesses or maintain effective internal controls over financial reporting; the ability to continue to meet applicable listing standards; costs related to our business combination; the possibility that we may be adversely affected by other political, economic, business and/or competitive factors; the impact of COVID-19 and its related effects on our results of operations, financial performance or other financial metrics; the inability or unavailability to use or take advantage of the shift, or lack thereof, to EVA technology; pending or potential litigation; and other factors beyond our control. Additional factors can be found in our Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (“SEC”). New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and Blade undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.
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TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB):
September 2021 Cash Dividend - $0.06 per share
Superior Plus Corp. (“Superior”) today announced its cash dividend for the month of September 2021 of $0.06 per share payable on October 15, 2021. The record date is September 30, 2021 and the ex-dividend date will be September 29, 2021. Superior’s annualized cash dividend rate is currently $0.72 per share. This dividend is an eligible dividend for Canadian income tax purposes.
About the Corporation
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada.
For further information about Superior, please visit Superior’s website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).
Forward Looking Information
This news release contains certain forward-looking information and statements that are based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, "expects", "annualized", and similar expressions.
In particular, this news release contains forward-looking statements and information relating to: future dividends which may be declared on Superior’s common shares, the dividend payment, the tax treatment thereof, and the receipt of cash dividends. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release, regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2020, which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.
Beth Summers
Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
or
Rob Dorran
Vice President, Investor Relations and Treasurer
Tel: (416) 340-6003,
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Toll Free: 1-866-490-PLUS (7587)
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