LITTLE RIVER, S.C.--(BUSINESS WIRE)--#Energy--PCT LTD (OTC Pink: PCTL). After months of lab and then infield testing and characterizing results from systematic modifications and combinations of fluids, temperatures, and concentration levels, (parts per million) a stimulation procedure and protocol was established, and four wells were selected for a 14-day test.
First, a baseline of production was established by pumping the unstimulated wells for 7-days yielding a non-economically viable average production of 1% oil. For the next 14-days, the wells were stimulated by injecting our protocol of fluids.
Day one of the test the oil cut was 1% oil, 99% water. We then began our stimulation protocols and the wells were pumped in to a 100-barrel test tank. During the fourteen days the daily cuts were recorded and ranged from 6% oil to 22% oil with an average oil cut of 14.5%, an increase of 1440%.
To put these results into perspective: A) 1% oil cut would equal one barrel oil, ninety-nine barrels water with a value of $60/barrel after gravity reduction. B) With an average oil cut of 14.5%, the wells produced 14.4 barrels of oil and 85.6 barrels of water per 100 barrels of production. At $60/barrel, this equates to $864.00. This result is economically viable.
In the early January 2022, we will be conducting a new 14-day test using PCT’s newly developed Catholyte generator. This generator produces our proprietary catholyte at an increase of 300% in parts per million (ppm) and a 500% increase in volume of catholyte produced.
We anticipate an increase in oil cut and expect to see much greater results than we had in the December 6, 2021, testing.
About PCT LTD:
PCT LTD ("PCTL") focuses its business on acquiring, developing, and providing sustainable, environmentally safe disinfecting, cleaning, and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly owned operating subsidiary, Paradigm Convergence Technologies Corporation.
Forward-Looking Statements:
This press release contains "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: PCTL's ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; the anticipated results of business contracts with regard to revenue; and any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the SEC. PCTL undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor Relations Contact
Michael Iorlano
(760) 621-0062
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www.para-con.com
Twitter: https://mobile.twitter.com/@PCTL_
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) provides an update on the fund’s direct investments, portfolio asset allocation, structure types and impact statistics as of November 30, 2021, on the company website here. On a monthly basis, details on each private deal that has taken place over the prior month will be published here. The list includes all deals completed since the fund’s inception through November 30, 2021. Updates will continue to be posted on a monthly basis until the fund reaches its target of 60% direct investments.
For additional information on this fund, please visit cef.ecofininvest.com.
TCA Advisors is the adviser to Ecofin Sustainable and Social Impact Term Fund and Ecofin Advisors Limited is the fund’s sub-adviser.
Safe harbor statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the fund and TCA believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the fund and TCA do not assume a duty to update this forward-looking statement.
For more information contact Maggie Zastrow at (913) 981-1020 or This email address is being protected from spambots. You need JavaScript enabled to view it..
HOUSTON--(BUSINESS WIRE)--#Hydrogen--Kaizen Clean Energy, a leading developer of Hydrogen & Energy as a Service solutions (EaaS), announced today that Craig Klaasmeyer has joined the company’s management team to accelerate market expansion.
Eric Smith, Co-Founder of Kaizen Clean Energy said, “Craig and I have a successful history of working together and our team is excited to leverage his corporate finance experience to expand our Hydrogen & Energy as a Service business. Craig’s structuring and capital raising capabilities will help Kaizen fund our rapid growth and finance our business model that requires no upfront capital expenditures or permanent infrastructure on the part of our customers.
Mr. Klaasmeyer has over 30 years of experience as an Investment Banker with Credit Suisse and predecessors. He was most recently a Managing Director in Credit Suisse’s Energy group based in Houston, TX. During his career he has raised over $100B in financings for his clients across IPOs, secondary equity offerings, and investment grade and high yield debt offerings.”
Craig Klaasmeyer, Co-Founder of Kaizen Clean Energy said, “The clean energy transition is happening and investments in hydrogen production are growing exponentially. The adoption of hydrogen is being constrained by the high costs of transporting and storing hydrogen, representing over half of the delivered cost of hydrogen. Our technology significantly reduces these midstream costs thereby decreasing the delivered cost hydrogen and making hydrogen more accessible to a broader range of customers and applications. Our integrated solution is mobile, scalable and off grid and can be applied to electric vehicle charging, hydrogen vehicle refueling and microgrid stability / backup power generation.”
About Kaizen Clean Energy:
Founded in 2021, KCE is headquartered in Houston, TX, specializing in the design, development, and manufacture of hydrogen generators for Hydrogen & Energy as a Service.
For more information about Kaizen Clean Energy, please visit www.kaizencleanenergy.com.
Eric Smith
Co-CEO
Kaizen Clean Energy
Phone: +1.346.337.7788
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Global Market for Alternative and Renewable Fuels" report has been added to ResearchAndMarkets.com's offering.
The sustainability of petroleum-based fuel supply has gained broad attention from the global community due to the increase of usage in various sectors, depletion of petroleum resources, and uncertainty around crude oil market prices.
Additionally, environmental problems have also been flagged from the increasing emissions of harmful pollutants and greenhouse gases. Therefore, the use of clean energy sources is crucial. Sustainable, Alternative and Renewable Fuels include bio-fuels, bio-diesel, renewable diesel, sustainable aviation fuels (SAFs), biogas, electrofuels (e-fuels), green ammonia based on utilization of:
The report includes:
Key Topics Covered:
1 Research Methodology
2 Executive Summary
2.1 Market Drivers
2.2 Definitions of Advanced, Alternative and Renewable Fuels
2.3 Market Challenges
3 Industry Developments 2020-2021
4 Biofuels
4.1 Feedstocks
4.2 Production Processes by Generation
4.3 Bioethanol
4.4 Bio-Jet (Bio-Aviation) Fuels
4.5 Biomass-Based Diesel
4.6 Syngas
4.7 Biogas
4.8 Biomethanol
4.9 Biobutanol
4.10 Biofuel Challenges
4.11 Companies
5 Electrofuels (E-Fuels)
5.1 Introduction
5.1.1 Benefits of E-Fuels
5.2 Feedstocks
5.3 Electrolysers
5.3.1 Commercial Alkaline Electrolyser Cells (Aecs)
5.3.2 Pem Electrolysers
5.3.3 High-Temperature Solid Oxide Electrolyser Cells (Soecs)
5.3.3.1 Syngas Production
5.3.3.2 Companies
5.3.4 Electrolysis for Power-To-X
5.4 Direct Air Capture (Dac)
5.5 Production Routes
5.6 Costs
5.7 Estimate Market Demand for E-Fuels
5.8 Market Challenges
5.9 Companies
6 Green Ammonia
6.1 Production
6.2 Green Ammonia Synthesis Methods
6.3 Markets and Applications
6.4 Costs
6.5 Companies
7 Company Profiles (95 Company Profiles)
For more information about this report visit https://www.researchandmarkets.com/r/ptgzmg
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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Vendor-agnostic software empowers operators and CISOs by decoupling sensors from SIEMs
CHANDLER, Ariz.--(BUSINESS WIRE)--#CISO--SynSaber, an industrial asset and network monitoring company, announced today the launch of a closed beta for the industrial community’s first palm-sized threat sensors, called “Sabers”. The nimble, small form factor platform is deployable in numerous ways and is performant on the ultra-small DIN rail-sized hardware that is utilized throughout the operating community.
Organizations within the energy, utilities, manufacturing, and oil and gas industries are now able to join the closed beta program, which will grant them early access to the Saber technology and an opportunity to help shape the future of industrial security.
“Industrial organizations that are struggling with ICS/OT visibility within their existing environment will see immense benefit from participating in the beta,” said Ron Fabela, SynSaber CTO and co-founder. “With our full product launch scheduled for early 2022, we encourage organizations to enroll in the beta program now, so they have an opportunity to influence development and shape the product in a way that works best for the specific use cases within today's complex industrial environments."
Features included in the beta release:
From remote substations to global manufacturing, every industrial control system (ICS) environment requires full operational technology (OT) visibility to operate securely. SynSaber's vendor-agnostic software will fit anywhere within any ICS environment and send data to any collection point.
By offering flexible and scalable collection and analysis for OT security programs, SynSaber covers the gaps left by current offerings within the existing landscape. Some pertinent use cases for SynSaber software include:
Asset identification & profiling · Threat detection · Full packet captures
Delivery to one or many systems · Operational monitoring
A current beta participant (senior analyst for a U.S.-based energy utility) recently shared what prompted them to join the SynSaber beta: "Many facilities have critical networks out in remote locations away from the control room and operators, and we frequently don't have extra fiber to use in those locations that would typically be required for other solutions. With SynSaber, we hope to deploy a small device that will enable monitoring of those remote locations."
The analyst also indicated that due to their size, they have a small security operation center (SOC) with individuals dedicated to cybersecurity, but that the vast majority of utilities and co-ops do not have the same resources. "We have a responsibility to help co-ops and smaller utilities by finding solutions that will enable them to implement simple and effective solutions for cybersecurity monitoring. I think every medium to large utility should engage with vendors through beta participation or other methods to encourage progress in this space."
To apply to join the closed beta, visit https://synsaber.com/#request-early-access. You can also meet SynSaber founders at these upcoming events: S4x22 in Miami, FL (Jan 25-27), RSA in San Francisco, CA (Feb 7-10).
About SynSaber
SynSaber is the simple, flexible, and scalable industrial asset and network monitoring solution that provides continuous insight into the status, vulnerabilities, and threats across every point in the industrial ecosystem, empowering operators to observe, detect and defend OT/IT systems and protect critical infrastructure. SynSaber is privately held with funding from SYN Ventures, Rally Ventures, and Cyber Mentor Fund. Learn more at SynSaber.com or contact us directly at This email address is being protected from spambots. You need JavaScript enabled to view it..
Media
RedIron PR for SynSaber
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DUBLIN--(BUSINESS WIRE)--The "Toluene: 2021 World Market Outlook up to 2030 (with COVID-19 Impact Estimation)" report has been added to ResearchAndMarkets.com's offering.
The report is an essential resource for a one looking for detailed information on the world toluene market. The report covers data on global, regional and national markets including present and future trends for supply and demand, prices, and downstream industries.
In addition to the analytical part, the report provides a range of tables and figures which all together give a true insight into the national, regional and global markets for toluene.
Report Scope
Reasons to Buy
Key Topics Covered:
1. INTRODUCTION: TOLUENE PROPERTIES AND USES
2. TOLUENE MANUFACTURING PROCESSES
3. TOLUENE WORLD MARKET IN 2015-2020
3.1. World toluene capacity
3.2. World toluene production
3.3. Toluene consumption
3.4. Toluene global trade
3.5. Toluene prices
4. TOLUENE REGIONAL MARKETS ANALYSIS
Each country section comprises the following parts:
4.1. Toluene European market analysis
Countries covered:
4.2. Toluene Asia Pacific market analysis
Countries included:
4.3. Toluene North American market analysis
Countries under consideration:
4.4. Toluene Latin American market analysis
Countries overviewed:
4.5. Toluene Middle East market analysis
Countries examined:
5. TOLUENE GLOBAL MARKET FORECAST
5.1. Toluene capacity and production forecast up to 2030
5.2. Toluene consumption forecast up to 2030
5.3. Toluene market prices forecast up to 2030
6. KEY COMPANIES IN THE TOLUENE MARKET WORLDWIDE
7. TOLUENE END-USE SECTOR
7.1. Consumption by application
7.2. Downstream markets review and forecast
For more information about this report visit https://www.researchandmarkets.com/r/bgcf5k
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--#AirFreight--GA Telesis, LLC (“GAT”) announces that its subsidiary GAT Logistics Solutions Group LLC has received approval from the U.S. Department of Homeland Security, Transportation Security Administration (TSA), to operate under TSA's Indirect Air Carrier Standard Security Program (IACSSP). This approval coincides with the launch of GAT Logistics Solutions Group LLC, a worldwide provider of transportation, logistics, storage, and supply chain solutions. GAT Logistics Solutions Group is a standalone, wholly-owned subsidiary of the GAT Ecosystem™. It is a result of the requests from the Company's global customers to manage their third-party logistics and transportation.
GAT Logistics Solutions Group was created to be an innovative freight forwarding and contract logistics provider that utilizes technology to enhance supply chain efficiency. Stemming from an industry pioneer in the commercial aviation sector, GAT Logistics Solutions Group will be best positioned to provide competitive domestic and international shipping of all modes while putting a heavy emphasis on reliability and cost.
“I am excited for the opportunity to expand services available to the customers, partners, and industry associates in our GAT Ecosystem™,” said Dr. Andreas Bauer, Senior Vice President & TSA Security Coordinator. “Our primary aim is to expand the capabilities of our aerospace ecosystem to better serve the industry's needs, and when coupled with our digital solutions, we provide a unique and differentiated capability focused on customer success,” added Bauer.
“In turbulent times, disruptive actions are necessary to address the needs of the ecosystem,” said Jessica Matthews, Managing Director of GAT Logistics Solutions Group. “Our IACSSP approval has allowed GAT Logistics Solutions Group to assemble a premier team of freight forwarding professionals with proven success managing time-critical logistics. As a result, all customers will have the opportunity to leverage our competitive advantage by ensuring the highest level of industry intelligence and customer satisfaction in the market,” commented Matthews.
About GA Telesis
GA Telesis is the leading provider of integrated services in the commercial aviation industry. Through the GA Telesis Ecosystem™, the Company is distinctly positioned, across six continents, to leverage its resources to create innovative solutions for its customers. Consisting of global operations encompassing Leasing/Financing, Component Solutions, and MRO Services business units for landing gear, component/composite, and turbine engine repair, as well as digital solutions, the GA Telesis Ecosystem™ provides an unparalleled resource to airlines. The Company’s core business is its mission to ensure “Customer Success,” built from a reputation for unsurpassed excellence and integrity.
For further information on GAT Logistics Solutions, please contact Jessica Matthews at This email address is being protected from spambots. You need JavaScript enabled to view it..
Jessica Matthews
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FORT DAUPHIN, Madagascar--(BUSINESS WIRE)--In accordance with the commitments made last July, Rio Tinto QIT Madagascar Minerals (QMM) and its partner Crossboundary Energy (CBE) today laid the foundation stone for the solar and wind power plant project that will supply the QMM ilmenite mine operations in Fort Dauphin, in southern Madagascar. The ceremony took place in the Ehoala Park area, in the presence of high dignitaries, including the Minister of Energy and Hydrocarbons, the Minister of Environment, the mayor of Fort-Dauphin and the Governor of the Anosy Region. The renewable energy project plays a key role in implementing QMM's 'sustainable mine' concept and enabling Rio Tinto operations in Madagascar to reach carbon neutrality by 2023.
The renewable energy plant will be built and operated by CBE, a recognized independent power producer, with whom QMM has signed a 20-year power purchase agreement. The first unit, an 8 MW solar energy facility, will be operational in 2022. The 12 MW wind power facility will be completed in 2023. The project also includes an 8.25 MW lithium-ion battery energy storage system. Around 18,000 solar panels and four wind turbines will enable QMM to meet all of its electricity needs during peak periods and up to 60% of its annual electricity consumption, as well as to reduce its annual carbon dioxide emissions by about 26,000 tonnes. In addition, the renewable power supply will reduce QMM's heavy fuel oil purchases by up to 8,500 tonnes per year. With this plant, QMM will also replace the majority of the electricity it currently supplies to the town of Fort-Dauphin and its 80,000 community members with clean energy.
"This project is a key component of our ‘sustainable mine’ initiative, which aims to leave a lasting legacy for present and future generations, built independently of our mining operations. We want to leave this legacy through permanent dialogue, the full integration of activities within the development plan of the region, responsible social and environmental governance, the reduction of our environmental footprint and therefore of our carbon footprint, and through the creation of economic and social opportunities increasingly independent of QMM. This project is a strategic test, not only in Madagascar but also in the mining industry as a whole, as we have to innovate and rethink our operations in order to combat climate change and leave a sustainable legacy," said Ny Fanja Rakotomalala, President of QMM.
For Matt Tilleard, Managing Partner of CBE, "By establishing a commercial power plant that blends solar PV, battery energy storage, and wind power, the QMM project greatly improves the island of Madagascar standing as a regional renewable energy leader. CBE is pleased to take up this technical challenge. We believe large-scale, complex commercial energy projects can be realized here in Madagascar thanks to ample supply of renewable resources, holistic government support, and knowledgeable local implementing partners.”
"This project is important in Madagascar's development strategy, particularly within the Plan Emergence Sud, which makes access to electricity for the people of the Anosy region a priority. We are pleased to see this project start on schedule, thanks to the unwavering commitment of all project sponsors and regulators. We are creating a public-private partnership model that will position Madagascar as a destination for technological innovation in the field of renewable energy and attract new expertise," said Andry Ramaroson, Minister of Energy and Hydrocarbons of the Republic of Madagascar.
The project is also an opportunity to build local expertise. QMM and CBE are also working with the local authorities to develop manufacturing capacity to produce equipment for the renewable industry at Ehoala Park, a strategic zone open to national and international investors.
Notes to editors
The sustainable mine: the key workstreams
The construction of the two solar and wind units is part of QMM's broader 'sustainable mine' initiative that aims to leave a lasting legacy for present and future generations, built independently of its mining operations. This initiative includes programmes focused on emissions reduction, waste and water management, carbon sequestration, restoration and reforestation.
A partnership in action
The implementation of the project mobilizes many Malagasy institutions and regulators, including the National Environment Office, the Maritime and River Port Authority, and the Civil Aviation of Madagascar, to ensure that it avoids or mitigates any social and environmental impacts, and to define a clear roadmap for construction according to the planned schedule. Through close collaboration between QMM, CBE, the institutions and the neighbouring communities, careful consideration of design, layout, configuration and location of the solar and wind installations has been taken. In addition, two social and environmental impact studies have been conducted, on the wind and solar components respectively, which confirm that to date there has been no impact of this project on the communities, fauna and flora.
About QIT Madagascar Minerals
QIT Madagascar Minerals (QMM), is a joint venture between Rio Tinto (80%) and the government of Madagascar (20%). It is located near Fort Dauphin in the Anosy region of south-eastern Madagascar, and primarily produces ilmenite which is a major source of titanium dioxide, predominantly used as a white pigment in products such as paints and paper.
QMM also produces zirsill used in the manufacture of ceramic tiles and certain types of electronic displays and monazite, a rare earth element, used in renewable energy technologies like high-powered permanent magnets used in wind turbines and electric vehicles.
QMM includes the deep-water Port d’Ehoala, where the raw material is shipped to the Rio Tinto Fer et Titane plant in Canada and processed into titanium dioxide.
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Category: QMM
FRANKFURT, Germany--(BUSINESS WIRE)--ESG Clean Energy, LLC, developers of net zero, distributed power generation and clean energy manufacturing solutions, announced today it has signed a letter of intent (LOI) with Ethatec GmbH for the use of ESG’s patented CO2-free power generation technology to power its production of ethanol.
Under the LOI, US-based ESG Clean Energy will provide its patented carbon-capture system to enable Ethatec GmbH to produce different products in a sustainable way while preventing tons of carbon dioxide from entering the atmosphere every year.
Ethatec uses a unique process using waste from bakeries and pizza factories (old bread, dough, and other starch-based foods). The method involves first crushing and mixing the raw waste with water before being fed into a hammer mill. The resulting liquid is then mixed with water and enzymes and heated in a multi-stage mashing process to saccharify the starch. It is then cooled and fed into fermentation tanks. Yeast is then added for alcoholic fermentation of the sugar and after 72 hours, the mixture is fed to a distillation system where ethanol is obtained. Ethatec can also produce and manufacture other products using this unique system, including biogas and nitrogen fertilizer.
In order to meet the growing power demand for their production process, significant amounts of energy are required to run the operation. By using the ESG Clean Energy carbon-capture power generation system, Ethatec will be able to use natural gas to power their manufacturing plants while achieving a net zero carbon footprint.
“We are excited to explore the new opportunities with Ethatec and see how our carbon-capture system can augment their unique manufacturing system,” said Lutz Deyerling, Vice President European Operations and Corporate Finance at ESG Clean Energy. “Combining their system with ESG’s carbon-capture technology would create one of the most environmentally friendly systems in the industry today.”
The ESG system is truly unique with its ability to create a Net Zero carbon outcome from a conventional, natural gas, internal combustion engine without loss of efficiency.
Exhaust gas contains a significant amount of water vapor and CO2 as naturally occurring byproducts of the combustion process. By separating those two elements, the ESG system can produce distilled water – and other commodities such as urea, methanol, and recycled plastics – while capturing close to 100% of the CO2.
As a result, Net Zero Carbon Footprint power production is achieved.
Besides electrical power generation, the ESG system can also be utilized in a number of different environments, including:
Plastics Recycling Operations – Can be made more affordable and safer for the environment by providing low-cost, CO2-free heat that is critical to its processing.
Nitrogen Removal – Can be done more efficiently and cleanly. Nitrogen can cause algae blooms in wastewater treatment plants and is a risk to human health, so its removal has become an emerging, worldwide concern.
Stranded Natural Gas Wells – Can be effectively converted from non-operating revenue producers to operating revenue producers by incorporating the ESG system into its production process.
Microgrids – Can be made more reliable in times of emergency with the distributed power abilities of ESG power generation when regional grids go down.
Data Centers – Can provide large data centers with clean low-cost energy in a relatively small package.
Crypto Mining Operations – Can meet the energy demands of crypto mining operations without emitting carbon dioxide into the atmosphere.
For more information about ESG Clean Energy, please visit www.ESGcleanEnergy.com.
About ESG Clean Energy, LLC
ESG Clean Energy, LLC (ESG) develops Net Zero Carbon Footprints and clean energy solutions for businesses and power providers using natural gas. The ESG system utilizes patented, off-the-shelf technology to efficiently produce electricity while capturing and converting 100% of the carbon dioxide and water vapor, which can be used in the production of various commodities, such as distilled water, ethanol, and urea. More information about ESG Clean Energy, its technology, and its current projects can be found at www.ESGcleanEnergy.com.
Media Contact:
Bill Wrinn
978-559-1970
DUBLIN--(BUSINESS WIRE)--The "Global Incineration Plants Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
The incineration plants market is poised to grow by $45.74 bn during 2021-2025, progressing at a CAGR of over 12%
This study identifies the increase in global urbanization and waste management regulations as one of the prime reasons driving the incineration plants market growth during the next few years. The market is driven by the decrease in use of landfill due to limited land availability and the need for appropriate waste management due to increase in environmental pollution.
The report on the incineration plants market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The incineration plants market analysis includes the application segment and geographic landscape.
The publisher robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading incineration plants market vendors that include Babcock & Wilcox Enterprises Inc., China Everbright International Ltd., Doosan Corp., Hitachi Zosen Corp., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., Nippon Steel Corp., Sembcorp Industries Ltd., SUEZ SA, and VEOLIA ENVIRONNEMENT SA.
Also, the incineration plants market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Geographic Landscape
Vendor Landscape
Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/r/yb15w
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Martinez brings more than 25 years of energy industry experience to Energy Transition Advisory
HOUSTON--(BUSINESS WIRE)--Pickering Energy Partners (PEP), a Houston-based energy financial services firm, today announced the hiring of Jason Martinez to lead its Energy Transition Advisory practice. His role on the PEP team will support the firm as it enhances its offerings for Energy Transition companies.
With more than 25 years of experience in the energy industry—primarily as an investment banker— Martinez brings a unique perspective and expertise transforming companies across the energy value chain. His client and deal work spans more than a dozen countries and more than $100 billion of announced transactions, including mergers, acquisitions, divestitures, all forms of public and private capital raising, and commercial lending.
“Jason will be an invaluable leader in helping clients achieve climate goals, which will require unprecedented capital investment,” said Dan Pickering, Chief Investment Officer of PEP. Walker Moody, President of PEP added, “Jason offers a deep understanding of investor mindset, capital formation to fund and launch innovative business models, and a nuanced methodology of how management teams can position themselves in the new energy economy.”
Most recently, Martinez was a Managing Partner at venture capital firm Tupper Lake Partners which focuses on early-stage energy and ESG-enabling technologies. Previously, he led the Energy Advisory practice at Bank of Montreal Capital Markets and ran the Houston office of Nomura Securities’ Energy Group. Earlier in his career, he helped build the Deutsche Bank Energy practice and previously worked in JP Morgan’s banking practice. He began his energy career in Andersen Consulting’s Natural Resources group working to transform companies across the energy value chain. Martinez earned his Master of Business Administration degree from Harvard Business School and a Bachelor of Arts degree from Rice University.
“With its track record, relationships and intellectual capital across the energy delivery value chain, Pickering Energy Partners is a game-changing firm at the center of transforming the future of energy, and I am excited to lead its Energy Transition Advisory practice,” Martinez said.
The Energy Transition Advisory practice will draw upon the strong momentum of PEP’s other offerings, working across the growing Insights, Consulting and Investments practices to deliver actionable opportunities for companies across the energy sector.
Martinez’s hiring comes as Pickering Energy Partners and Heikkinen Energy Advisors recently announced their merger, further deepening their expertise. Earlier in the year, PEP also merged with SailingStone Capital Partners, an investment firm with a long history managing both energy transition and global natural resources investment strategies.
To learn more about PEP and its differentiated offerings, visit www.PickeringEnergyPartners.com or contact This email address is being protected from spambots. You need JavaScript enabled to view it..
About Pickering Energy Partners
The original Pickering Energy Partners (PEP) was founded in early 2004 by Dan Pickering as an institutional energy research firm before subsequently partnering with Bobby Tudor and Maynard Holt in 2007 to become Tudor, Pickering, Holt & Company. Today's Pickering Energy Partners takes an entrepreneurial approach to a global natural resources-focused financial services platform with customized asset management strategies, market intelligence via Insights and high impact Consulting and Advisory capabilities. Headquartered in Houston, Texas, PEP delivers an experienced, opportunistic team that aims to provide guidance and long-term value for clients while having a positive impact on the companies and communities that PEP invests in. For more information, please visit www.PickeringEnergyPartners.com.
PEP is an SEC Registered Investment Advisor located in Houston, Texas. PEP does not provide corporate advisory or investment banking services on energy-related transactions.
Walker Moody
(713) 804-7577
DUBLIN--(BUSINESS WIRE)--The "Global Hydrogen Generation Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
The hydrogen generation market is poised to grow by $ 38.71 bn during 2021-2025, progressing at a CAGR of over 5%
This study identifies the growing metal processing industry as one of the prime reasons driving the hydrogen generation market growth during the next few years. The market is driven by the growing demand for fertilizers and growth in global refining capacity.
Their report on hydrogen generation market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The hydrogen generation market analysis includes the application segment and geographic landscape.
The publisher's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hydrogen generation market vendors that include Air Products and Chemicals Inc., Cummins Inc., Claind Srl, Iwatani Corp., LAIR LIQUIDE SA, Linde Plc, Parker Hannifin Corp., SHOWA DENKO K.K., Teledyne Technologies Inc., and Xebec Adsorption Inc.
Also, the hydrogen generation market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/r/5qc6uh
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
DUBLIN--(BUSINESS WIRE)--The "Ultra Short Base Line Positioning System Market" report has been added to ResearchAndMarkets.com's offering.
This recent study on the Ultra Short Base Line Positioning System market includes global industry analysis for 2016-2020 and opportunity assessment for 2021-2031, and delivers a comprehensive assessment of the most important market dynamics.
After conducting thorough research on the historical and current growth parameters of the Ultra Short Base Line Positioning System market, the growth prospects of the market are obtained with maximum precision.
The global Ultra Short Base Line Positioning System market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
Companies Mentioned
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Key Market Trends
4. Key Success Factors
5. Global Ultra Short Base Line Positioning System Market Demand (in Value or Size in US$ Mn) Analysis 2016-2020 and Forecast, 2021-2031
5.1. Current and Future Market Value (US$ Mn) Projections, 2021-2031
5.1.1. Y-o-Y Growth Trend Analysis
5.1.2. Absolute $ Opportunity Analysis
6. Market Background
6.1. Macro-Economic Factors
6.1.1. Global Economic Outlook
6.1.2. Global GDP Growth Outlook
6.1.3. Overview of Global Fleet Count by Vessel Type
6.1.4. Number of Submarines by Country
6.2. Cost Structure Analysis for Ultra Short Base Line Positioning system
6.3. Forecast Factors - Relevance & Impact
6.4. Value Chain Analysis
6.5. COVID-19 Crisis - Impact Assessment
6.6. Market Dynamics
6.6.1. Drivers
6.6.2. Restraints
6.6.3. Opportunity Analysis
7. Global Ultra Short Base Line Positioning System Market Analysis 2016-2020 and Forecast 2021-2031, by Operating Frequency Range
8. Global Ultra Short Base Line Positioning System Market Analysis 2016-2020 and Forecast 2021-2031, by Nominal Range
9. Global Ultra Short Base Line Positioning System Market Analysis 2016-2020 and Forecast 2021-2031, by Antenna Aperture
10. Global Ultra Short Base Line Positioning System Market Analysis 2016-2020 and Forecast 2021-2031, by End User
11. Global Ultra Short Base Line Positioning System Market Analysis 2016-2020 and Forecast 2021-2031, by Region
12. North America Ultra Short Base Line Positioning System Market Analysis 2016-2020 and Forecast 2021-2031
13. Latin America Ultra Short Base Line Positioning System Market Analysis 2016-2020 and Forecast 2021-2031
14. Europe Ultra Short Base Line Positioning System Market Analysis 2016-2020 and Forecast 2021-2031
15. East Asia Ultra Short Base Line Positioning System Market Analysis 2016-2020 and Forecast 2021-2031
16. South Asia and Pacific Ultra Short Base Line Positioning System Market Analysis 2016-2020 and Forecast 2021-2031
17. Middle East and Africa Ultra Short Base Line Positioning System Market Analysis 2016-2020 and Forecast 2021-2031
18. Key and Emerging Countries Ultra Short Base Line Positioning System Market Analysis
19. Market Structure Analysis
19.1. Key Players - Market Positioning
19.2. Market Analysis by Tier of Companies
19.3. Market Share Analysis of Top Players
20. Competition Analysis
20.1. Competition Dashboard
20.2. Competition Deep Dive
21. Assumptions and Acronyms Used
22. Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/3a7mb0
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
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Semiconductor Industry Veteran Joins to Lead Backend Operations
DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF), the global leader in Silicon Carbide technology, today announced that Joe Roybal has joined the company as the Vice President of Backend Operations. Mr. Roybal joins Wolfspeed from Texas Instruments and has over 20 years of operations and leadership experience.
“Joe comes to Wolfspeed with a wealth of knowledge in fab, probe and assembly/test operations and we look forward to his contributions as we continuously improve,” said Rex Felton, SVP of Global Operations. “His arrival complements our growing operations leadership team and will be a vital asset as we lead the industry-wide transformation from silicon to Silicon Carbide.”
This addition to Wolfspeed’s team of seasoned semiconductor manufacturing professionals, paired with the expansion of production capability for Silicon Carbide materials and devices in New York and North Carolina will support the company’s rapid growth.
Mr. Roybal previously held the titles of Director of Quality for the Analog Signal Chain, Director of Test Operations – where he led a 650-employee organization through an operations-wide transformation to increase efficiency – and Quality Manager for Texas Instruments’ first 300mm factories. He has worked with automotive, industrial, communications and personal electronics customers, improving satisfaction through product quality and account management.
About Wolfspeed, Inc.:
Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of Silicon Carbide and GaN technologies. We provide industry-leading solutions for efficient energy consumption and a sustainable future. Wolfspeed’s product families include Silicon Carbide materials, power-switching devices and RF devices targeted for various applications such as electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defense. We unleash the power of possibilities through hard work, collaboration and a passion for innovation. Learn more at www.wolfspeed.com.
Wolfspeed® is a registered trademark of Wolfspeed, Inc.
Media Relations:
Joanne Latham
VP, Corporate Marketing
919-407-5750
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Investor Relations:
Tyler Gronbach
VP, Investor Relations
919-407-4820
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EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--#CHRobinson--C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (Nasdaq: CHRW) announced that it has amended the record date of its recently declared quarterly cash dividend of 55 cents ($0.55) per share. The record date has been changed to December 15, 2021 from the previously announced date of December 13, 2021.
About C.H. Robinson
C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With $26 billion in freight under management and 19 million shipments annually, we are one of the world’s largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world’s economy. With the combination of our multimodal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our more than 105,000 customers and 73,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers’ businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit us at www.chrobinson.com (Nasdaq: CHRW).
CHRW-IR
Chuck Ives, Director of Investor Relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Global Gas Engine Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
The gas engine market is poised to grow by $ 1.66 bn during 2021-2025, progressing at a CAGR of 5.72%
This study identifies the low emission levels of natural gas as compared with fossil fuels as one of the prime reasons driving the gas engine market growth during the next few years. The market is driven by increase in electricity demand and expanding the gas generator market.
Their report on the gas engine market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The gas engine market analysis includes the end-user segment and geographic landscape.
The publisher's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading gas engine market vendors that include Caterpillar Inc., CNH Industrial NV, Cummins Inc., Hyundai Heavy Industries Co. Ltd., INNIO Jenbacher GmbH & Co. OG, Kawasaki Heavy Industries Ltd., Kohler Co., Liebherr-International AG, Mitsubishi Heavy Industries Ltd., and Siemens AG.
Also, the gas engine market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/r/7bokqo
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
OVERLAND PARK, Kan.--(BUSINESS WIRE)--TortoiseEcofin today announced upcoming additions and deletions to its indices as part of its regular quarterly rebalancing for the fourth quarter of 2021. Following the close of trading on December 17, 2021, the indices will be rebalanced and as a result, the following changes will become effective.
Ecofin Global Water ESG Index SM |
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(EGWESG/EGWESGT) |
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Ticker |
Deletion |
Primo Water Corp |
PRMW CN |
Ecofin Global Digital Payments Infrastructure Index SM |
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Ticker |
Addition |
Global-e Online Ltd |
GLBE US |
Addition |
Marqeta Inc |
MQ US |
Addition |
Paymentus Holdings Inc |
PAY US |
While there are no changes to Tortoise MLP Index® and Tortoise North American Pipeline IndexSM in the current rebalance, Enable Midstream Partners LP (NYSE: ENBL) was removed from the two indices effective December 3, 2021, following completion of its merger with Energy Transfer LP (NYSE: ET).
Full constituent lists for each index from the third quarter rebalance can be found here:
Tortoise MLP Index® (TMLP):
https://tortoiseecofin.com/media/1528/tmlp-constituent-overview-091721.pdf
Tortoise North American Pipeline IndexSM (TNAP):
https://tortoiseecofin.com/media/1530/tnap-constituent-overview-91721.pdf
Ecofin Global Water ESG Index SM (EGWESG):
https://tortoiseecofin.com/media/1260/egwesg-constituent-overview-91721.pdf
Ecofin Global Digital Payments Infrastructure Index SM (TPMT):
https://tortoiseecofin.com/media/1539/tpmt-constituent-overview-91721.pdf
About TortoiseEcofin
TortoiseEcofin focuses on essential assets – those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior living. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. To learn more, visit www.TortoiseEcofin.com.
The Tortoise MLP Index® is a float-adjusted, capitalization weighted index of energy master limited partnerships (MLPs). The index is comprised of publicly traded companies organized in the form of limited partnerships or limited liability companies engaged in transportation, production, processing and/or storage of energy commodities.
The Tortoise North American Pipeline IndexSM is a float-adjusted, capitalization weighted index of pipeline companies that are organized and have their principal place of business in the United States or Canada. A pipeline company is defined as a company that either 1) has been assigned a standard industrial classification (“SIC”) system code that indicates the company operates in the energy pipeline industry or 2) has at least 50% of its assets, cash flow or revenue associated with the operation or ownership of energy pipelines. Pipeline companies engage in the business of transporting natural gas, crude oil and refined products, storing, gathering and processing such gas, oil and products and local gas distribution. The index includes pipeline companies structured as corporations, limited liability companies and master limited partnerships (MLPs).
The Ecofin Global Water ESG IndexSM is a proprietary, rules-based, modified capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in the water infrastructure or water management industries.
The indices mentioned above are the exclusive property of TIS Advisors, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Tortoise MLP Index®, Tortoise North American Pipeline IndexSM, and Ecofin Global Water ESG IndexSM (the “Indices”). The Indices are not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices will not be liable for any errors or omissions in calculating the Indices. “Calculated by S&P Dow Jones Indices” and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by TIS Advisors and its affiliates. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”).
The Ecofin Global Digital Payments Infrastructure IndexSM represents the existing global digital payments landscape. It is a proprietary, rules-based, modified market capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in digital payments, including merchant processing and settlement, real time record keeping, settlement networks, and Fintech products/services that facilitate the ease, efficiency, and speed of electronic transactions. This includes companies whose primary business is comprised of one or a combination of the following categories: credit card networks, electronic transaction processing and associated products/services, credit card issuers, electronic transaction processing software (payments Fintech) or online financial services market places.
This index mentioned above is the exclusive property of TIS Advisors and is calculated by Solactive AG (“Solactive”). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive AG (“Solactive”) in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the financial instruments; (b) the quality, accuracy and/or the completeness of the Index or the calculations thereof; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index.
This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. TortoiseEcofin makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Maggie Zastrow
(913) 981-1020
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LONDON & BEIJING--(BUSINESS WIRE)--Giga Carbon Neutrality (GCN), the clean commercial transportation and technology company, today announced that it has secured a contract to supply 200 hydrogen and battery EV powered heavy trucks and associated engineering machinery from The People’s Government of Ejin Horo Banner, an administrative division of Ordos City of the Inner Mongolia Autonomous Region in China.
The GCN trucks will be produced in a strategic partnership with Xuzhou Construction Machinery Group (XCMG) and Sunrise Power at a new clean energy commercial vehicle production facility in Ordos City, China. XCMG is China’s number one and the world’s number three construction machinery company.
The partners plan to invest Rmb2.3 billion (US$360 million) to establish the new plant, which will produce clean energy commercial vehicles, hydrogen power systems and associated equipment for customers in China and across Asia. Work to build the new plant is expected to be complete in 2023, with the first 200 vehicles scheduled to roll off the production line in the first half of 2022.
In November 2021, GCN announced its intention to launch a full range of 21 battery-electric and hydrogen fuel-cell vehicles by the end of 2023, which will be configurable to a wide range of commercial use cases. The first vehicles are available to order now for delivery in 2022.
Marty Wade, CEO at Giga Carbon Neutrality, comments: “This a milestone deal for GCN and clean energy commercial transportation. We believe it is the amongst the biggest signed with any company for hydrogen and battery EV trucks so far and that it will make GCN the one of the leading providers of hydrogen-powered commercial vehicles worldwide.”
See GCN’s Hydrogen Tractor on the road in China at https://youtu.be/6MWfu8zswTo
About Giga Carbon Neutrality (www.gigacarbonneutrality.com)
Giga Carbon Neutrality is a clean energy trucking and technology company with a supporting ‘Energy-as-a-Service’ (EaaS) offering that makes running clean, reliable vehicle fleets easy for industrial and commercial transportation companies. GCN'S portfolio includes battery-electric and hydrogen fuel cell vehicles, clean energy storage, charging and refueling infrastructure, and specialist financing to support the transition to zero-emission vehicles.
About Sunrise Power Co Ltd (www.fuelcell.co.cn)
Founded in April 2001, Sunrise Power Co., Ltd. is China's first joint-stock enterprise dedicated to industrialization of fuel cells. The company integrates scientific research and development, engineering transformation, product manufacturing and personnel training, and is mainly engaged in design, development, manufacturing and technical service of hydrogen fuel cell membrane electrodes, stack modules, systems and related test equipment. At present, it has a total of 541 patent applications, including 4 international patents, and covering all levels of key materials, key components, stacks and systems of proton exchange membrane fuel cells.
About XCMG (www.xcmg.com)
XCMG is the iconic brand of the equipment industry of China. XCMG group, 78 years of history, is a multinational enterprise giant. No. 1 in Chinese construction machinery industry, top 3 in the industry in the whole world, XCMG has been supplying the products to over 187 countries and regions.
For more information please contact:
James Taylor | Roaring Mouse Public Relations
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
T: +44 (0)1246 938833
TAMPA, Fla.--(BUSINESS WIRE)--Overseas Shipholding Group, Inc. (NYSE: OSG) (“OSG”), a provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, today announced that it has exercised options to extend its bareboat charter agreements with American Shipping Company ASA (Oslo Stock Exchange: AMSC / OTCQX: ASCJF) for two vessels, and that it will not be exercising extension options for three other vessels. The two bareboat charter extensions provide for additional one-year terms, commencing in December 2022 and ending in December 2023. With these extensions, seven vessels will continue on lease from AMSC - six with maturity dates aligned to end in December 2023 and one with a maturity of 2025. OSG will operate the three vessels whose charters have not been extended for the next 12 months until the end of their current bareboat term in December 2022.
Sam Norton, OSG’s President and CEO, stated, “We believe the market continues to support attractive commercial opportunities for the vessel leases that we are retaining to supplement the strong and stable cash flow generation from our niche businesses. With our newly fortified balance sheet we are well-positioned to continue on a path towards long-term value creation and attractive cash flow generation as the demand recovery continues to materialize.”
Mr. Norton also commented that, “Our decision not to exercise some of our options reflects a continued diversification from a relatively high concentration in conventional Jones Act tankers and ATBs to our niche businesses that have enjoyed higher and more stable returns. The Jones Act market for larger conventional tankers has shifted over the last five years as marginal demand drivers domestically have become more volatile in both crude and refined product flows. While we are witnessing a rebound in demand currently, charter periods obtainable in the markets we serve have shortened and the trajectory to increased stability remains uncertain.”
“The future of seaborne energy transportation and the type, design and markets for vessels that will be engaged in this business in the future are evolving in ways not yet well defined,” Mr. Norton continued. “The progressive U.S. transformation away from a carbon fuels-based economy should present interesting new business niches for OSG to competitively apply its differentiated set of skills. In addition to seeking to reduce volatility in our current earnings profile, the decision to redeliver three vessels to AMSC will allow us to redirect resources towards participating in a broader spectrum of opportunities in the existing and emerging markets for energy and liquid bulk commodities of all types.”
“The reduction in future fixed payment obligations that will result is a meaningful step towards reducing financial and operating leverage in our business to a level commensurate with current uncertainty in the commodity markets in which we are active,” said Dick Trueblood, the Company’s Vice President and Chief Financial Officer. “We believe we have retained an appropriate level of exposure to what we see is an improving market environment. At the same time, the shift in focus implicit in our decision not to exercise some of the extension options will allow us to direct more of our resources and capital towards those portions of our business which have historically generated more stable cash flows.”
The Company will host a conference call at 10:00 a.m. Eastern Time (“ET”) on Tuesday, December 14, 2021. To access the call, participants should dial (844) 850-0546 for domestic callers and (412) 317-5203 for international callers. Please dial in ten minutes prior to the start of the call. A live webcast of the conference call will be available from the Investor Relations section of the Company’s website at www.osg.com. An audio replay of the conference call will be available starting at 12:00 p.m. ET on December 14, 2021 by dialing (877) 344-7529 for domestic callers and (412) 317-0088 for international callers and entering Access Code 4601394.
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 active 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 Reports on Form 10-Q filed with the SEC on May 7, 2021, August 6, 2021 and November 9, 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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Visit was part of statewide tour to promote historic climate investments contained in the bipartisan infrastructure law and Biden administration’s Build Back Better agenda
CHICAGO--(BUSINESS WIRE)--Exelon Corp. (Nasdaq: EXC) hosted U.S. Secretary of Energy Jennifer M. Granholm on a tour of Exelon’s Braidwood Generating Station in Will County to highlight the economic and environmental benefits of investing in clean energy to address the climate crisis, support and grow good-paying jobs and secure America’s leadership in a clean energy future. The visit comes as federal lawmakers are considering sweeping climate legislation as part of President Biden’s Build Back Better plan, which will significantly expand on climate provisions in the recently passed bipartisan infrastructure law.
Braidwood exemplifies the need for Congress to take urgent action to support the nation’s nuclear fleet, which provides over 50 percent of the clean energy in the U.S. and 20 percent of all the electricity consumed. The plant was among four Illinois nuclear stations that faced premature retirement as a result of energy market rules that put carbon-free nuclear energy at a disadvantage to polluting fossil plants. That outcome was narrowly avoided when lawmakers enacted Illinois’ Climate and Equitable Jobs Act, which brought together labor, environmental NGOs, consumer advocates and the business community to preserve the state’s nuclear fleet, invest in new clean energy development, promote equity and put Illinois on course to achieve 100% clean power by 2045.
“Illinois made the right decision to increase its investment in new clean energy and preserve the state’s existing zero-carbon nuclear plants, which provide more than 90 percent of the state’s clean energy and support tens of thousands of jobs,” said Kathleen Barrón, executive vice president of Exelon. “But to meet our national climate goals, we agree with Secretary Granholm that federal leadership is essential to meeting the greatest challenge of our generation. We strongly urge Congress to act on the Build Back Better plan, which will unleash investment in new technology, transform our energy grid and put us on a sustainable path to grow our economy, reduce pollution and address the climate crisis before it is too late.”
“The hardworking men and women at our nation’s nuclear power plants are on the front lines in the fight against the climate crisis, keeping the lights on without any carbon or air pollution and supporting our economy with 24/7 electricity,” Secretary Granholm said after touring the plant. “The Build Back Better bill will help keep our existing nuclear fleet running while we invest in new nuclear technology.”
“The Administration and Congress recognize the importance of carbon-free nuclear generation to meet our country’s aggressive decarbonization goals,” said Maria Korsnick, president and CEO of the Nuclear Energy Institute. “The Braidwood nuclear power station is a perfect backdrop for the Secretary to discuss the Build Back Better Act, which includes important policies, like the production tax credit, that will ensure nuclear remains the backbone of our clean energy future.”
Granholm spoke with Braidwood employees and toured the plant’s main control room, turbine deck and other work areas during her visit. Braidwood entered service in 1988 and produces 2,389 megawatts of carbon-free energy, or enough to power more than 2 million homes in Northern Illinois. Photos and video from the tour can be found HERE.
About Exelon
Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.
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