DUBLIN--(BUSINESS WIRE)--The "Global Carbon Capture, Utilization and Storage (CCUS) Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
This study gives a comprehensive analysis of the global CCUS market till 2030, including forecasts for revenue, carbon capture capacity, regional splits, trends by industry, competitive analysis, and growth opportunity identification.
Carbon Capture, Utilization, and Storage (CCUS) will have a huge role to play in the global trend towards decarbonization of industries in the decades ahead. As energy transition accelerates and impending deadlines for carbon-neutrality approach, the CCUS market will present dynamic growth opportunities across regions and industrial sectors till 2030.
In the short to medium term, CCUS will find wider application in hard-to-abate industries, such as coal-fired power plants, cement manufacturing, iron and steel, fertilizers, and chemical production by retrofitting existing plants. In order to have a larger impact on decarbonization strategies in the longer term, negative emission technologies, such as Bioenergy CCS (BECCS) and Direct Air CCS (DACCS) will begin to be deployed.
CCUS hubs will play a significant role by integrating various industrial clusters within the ecosystem, thereby, reducing the cost and operational risk. At the same time, innovation will focus on cost reduction, technology optimization, modularization, and new business models.
Key Topics Covered:
1. Strategic Imperatives
2. Growth Environment
3. Growth Opportunity Analysis - CCUS
4. Growth Opportunity Analysis - Power Industry
5. Growth Opportunity Analysis - Heavy Industry
6. Growth Opportunity Analysis - Oil and Gas Industry
7. Growth Opportunity Analysis - Bioenergy CCS (BECCS) and DACCS
8. Growth Opportunity Analysis - CCUS Clusters
9. Growth Opportunity Analysis - Hydrogen Production
10. Growth Opportunity Analysis - Waste-to-energy
11. Growth Opportunity Analysis - Utilization
12. Growth Opportunity Analysis - Storage
13. Growth Opportunity Universe - CCUS
14. Next Steps
For more information about this report visit https://www.researchandmarkets.com/r/u1q4vs
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded new bareboat charter agreements with ARO Drilling for several jackups. ARO Drilling has signed contracts with Aramco for the same periods as the bareboat charter agreements.
Heavy-duty harsh environment jackup VALARIS 250, heavy-duty modern jackup VALARIS 116 and standard-duty modern jackups VALARIS 143 and 146 will each commence three-year extensions to their bareboat charter agreements upon completion of their existing agreements with ARO Drilling in December 2021.
Also, ARO Drilling owned rigs ARO 3003 and ARO 3004 have each been awarded five-year contract extensions with Aramco that will commence upon completion of their existing contracts in December 2021.
Valaris’ President and Chief Executive Officer Anton Dibowitz said, “We are very pleased to have secured additional work for four of our high-quality modern jackups, extending our long-standing relationship with Aramco, one of the largest customers for offshore drilling rigs in the world. ARO Drilling is a strategic asset for Valaris, providing a continued presence in an important offshore basin and long-term growth prospects via ARO’s twenty-rig newbuild program, with the first two newbuild jackups expected to be delivered in the second half of 2022. We look forward to continuing to work with our joint venture partner, Aramco, on growing and delivering value from ARO Drilling.”
About Valaris Limited
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
Cautionary Statements
Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," “should,” “will” and similar words. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the Company’s liquidity and ability to access financing sources, debt restrictions that may limit our liquidity and flexibility, the COVID-19 outbreak and global pandemic, the related public health measures implemented by governments worldwide, the volatility in oil prices caused in part by the COVID-19 pandemic and the decisions by certain oil producers to reduce export prices and increase oil production, and cancellation, suspension, renegotiation or termination of drilling contracts and programs. In particular, the unprecedented nature of the current economic downturn, pandemic, and industry decline may make it particularly difficult to identify risks or predict the degree to which identified risks will impact the Company’s business and financial condition. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10-Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.
Investor & Media Contact:
Tim Richardson
Director - Investor Relations
+1-713-979-4619
Company enters East Texas Haynesville Shale with addition of Shelby County facility
HOUSTON--(BUSINESS WIRE)--#CCS--Milestone Environmental Services, LLC (“Milestone”), one of the largest independent providers of energy waste sequestration services in the U.S., today announced that it has acquired an energy waste disposal facility in Center, Texas, effective December 31, 2021, along with two additional permits for energy waste landfills in Texas.
The acquisition includes the purchase of an active slurry injection facility with two injection wells, located in Shelby County, three miles north of Center, Texas, on Hwy 96. The facility is a cornerstone of the environmental infrastructure in place to manage energy waste generated by E&P operators drilling for natural gas in the Haynesville Shale in Texas and Louisiana. Milestone plans to continue normal business operations for customers and employees of the facility, and also plans several upgrades to the location over time.
The acquisition of the Center facility repositions Milestone in the core of the Haynesville and makes Milestone a leading operator of environmental infrastructure in the basin. Milestone had been an operator in East Texas for several years at its former location near Jasper, Texas.
In addition, the transaction included purchase options on two yet-unconstructed energy waste landfill permits in Texas – one in the Haynesville Shale and one in the Permian Basin. These permits add significantly to Milestone’s portfolio of permitted locations, providing opportunities for the company to further develop its energy waste infrastructure.
“Milestone’s mission is to Clean Up Energy℠. We believe we have an obligation to help our customers make good on their commitments to lower their emissions and produce vital energy for the world in a more sustainable way,” said Gabriel Rio, Milestone president and CEO. “As E&P operators increasingly choose professional management of their energy waste streams, more infrastructure will be needed to handle the demand. We believe the Haynesville will be a growing market given the increased global demand for natural gas as the world transitions its energy usage to lower-carbon sources. Our decision to acquire these assets was a strategic one that supports Milestone’s growth while serving the environmental needs of E&P operators in major U.S. basins.”
Milestone’s Center location is the ninth facility in operation, accepting all RCRA-exempt drilling, completion, and production waste streams. The facility also offers full-service truck and frac tank washouts 24 hours a day, seven days a week.
About Milestone Environmental Services
Milestone is a Net Negative energy waste sequestration company with assets throughout the Permian Basin, Eagle Ford Shale, and Haynesville Shale. We are one of the largest independent energy waste sequestration companies in the United States, and a key business partner to energy companies looking to reduce their carbon footprint through cost-efficient waste management solutions. Our network of slurry injection sites and best-in-class E&P landfills provides a new avenue for management and sequestration of hydrocarbon-rich energy waste streams. We are committed to protecting the environment and our communities by offering a better way to manage waste and play a key role in a forward-looking carbon agenda. Milestone is a partner in the transition to a sustainable energy future. For more information, please visit www.Milestone-ES.com.
Media Contact: Jessica Clements, (832) 739-6722, This email address is being protected from spambots. You need JavaScript enabled to view it.
TULSA, Okla.--(BUSINESS WIRE)--Helmerich & Payne, Inc. (NYSE: HP) today announced that Mark Smith, Senior Vice President and Chief Financial Officer; Trey Adams, Senior Vice President of Digital Operations, Sales & Marketing; Dave Wilson, Vice President of Investor Relations plan to participate in the following investor conferences during the month of January 2022. Participation by the management team will vary by event.
Investor slides to be used during the conferences will be available for download on the company’s website, within Investors, under Presentations, the afternoon of January 3, 2022.
About Helmerich & Payne, Inc.
Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com.
Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.helmerichpayne.com.
IR Contact:
Dave Wilson, Vice President of Investor Relations
918-588-5190
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DUBLIN--(BUSINESS WIRE)--The "Global Airborne ISR Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
The publisher has been monitoring the airborne ISR market and it is poised to grow by $6.83 billion during 2021-2025, decelerating at a CAGR of 5.83% during the forecast period. The report on the airborne ISR 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 market is driven by the increased demand for UAVs in military applications and the increased focus on maritime security.
The airborne ISR market analysis includes the platform segment and geographic landscape. This study identifies the development of indigenous airborne IRS systems as one of the prime reasons driving the airborne ISR market growth during the next few years.
Companies Mentioned
The report on airborne ISR market covers the following areas:
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.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Five Forces Analysis
5. Market Segmentation by Platform
6. Customer Landscape
7. Geographic Landscape
8. Vendor Landscape
9. Vendor Analysis
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/9zmfiy.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services, Inc., (NASDAQ: JBHT) announced today that it expects to issue fourth quarter 2021 earnings after the market closes on Tuesday, January 18, 2022. It will hold a conference call from 4:00-5:00 p.m. CT on the same day to discuss the quarterly results and answer questions from the investment community. To participate in the call, dial 1-833-360-0810 (domestic) or 470-495-0976 (international) 15 minutes prior to the start of the call and provide the following conference ID: 8876825.
This press release may contain forward-looking statements, which are based on information currently available. Actual results may differ materially from those currently anticipated due to a number of factors, including, but not limited to, those discussed in Item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2020. We assume no obligation to update any forward-looking statement to the extent we become aware that it will not be achieved for any reason. This press release and additional information will be available immediately to interested parties on our web site, www.jbhunt.com.
Brad Delco
Vice President – Finance & Investor Relations
(479) 820-2723
DUBLIN--(BUSINESS WIRE)--The "Glycerol Market Size, Share & Trends Analysis Report By Source (Biodiesel, Fatty Alcohol, Fatty Acids, Soaps), By Type (Crude, Refined), By End Use, By Region, And Segment Forecasts, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The global glycerol market size is estimated to reach USD 3.7 billion by 2027 and is expected to expand at a CAGR of 6.4% from 2021 to 2027.
Improved standard of living coupled with growing consumer demand for high quality and innovative personal care products is expected to drive the market over the forecast period. Glycerol is a thick, clear, and odorless polyol that belongs to the alcohol family of organic compounds. It is produced by the hydrolysis of fats and natural oils present in plants and animals.
The raw materials used in the production of the product are primarily vegetable oils, animal fats, sugar alcohol, and fatty acids, among others. Local manufacturers in the developed economies of Europe and North America mainly source these raw material ingredients due to the lack of availability in their regions. As glycerol is obtained from biodiesel, it is renewable in nature and a clean-burning fuel, which is widely used for industrial purposes.
The market is highly concentrated with the presence of big players like BASF SE, P&G Chemicals, Cargill Incorporated, DOW, and Wilmar International Inc. They are among the top producers of various grades of glycerol and cater to the growing demand from an array of end-use markets such as cosmetics, pharmaceuticals, feed, and food and beverage.
Asia Pacific dominated the market in 2020 and is predicted to witness the highest CAGR over the forecast period. Factors such as changing lifestyle patterns, growing consumption of convenience foods, and the rising number of working women in the region are anticipated to boost the food and beverage market in the predicted years. This, in turn, is anticipated to drive the demand for glycerol in the region.
Glycerol Market Report Highlights
Market Dynamics
Market driver analysis
Market restraint analysis
Price trend analysis
Global glycerol market - Business environment analysis
Industry challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/gczz3q.
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
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ORANGE, Conn.--(BUSINESS WIRE)--Today, AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, announced it has entered into an amendment of the merger agreement with PNM Resources (NYSE: PNM) extending the end date to April 20, 2023. The companies have also filed a Notice of Appeal with the New Mexico Supreme Court of the December 2021 New Mexico Public Regulation Commission’s (NMPRC) order that rejected a stipulated agreement for approval of the merger.
“We remain committed to the merger between AVANGRID and PNM Resources, two companies that share a passion for our customers, employees and the communities we serve,” said AVANGRID CEO, Dennis V. Arriola. “Uniting our resources would accelerate New Mexico’s clean energy future with a dedicated focus on reliability and resilience. We look forward to one day welcoming PNM into the AVANGRID family, where we would be steadfastly committed to providing economic, social and environmental value to the communities we serve, just as we do in communities across the country today.”
In 2021, the merger received approval from five federal agencies and the Public Utility Commission of Texas. Additional community supporters voiced their opinions at a December 3, 2021, press conference, including the New Mexico Office of the Attorney General, the All-Pueblo Council of Governors (APCG), the New Mexico Chamber of Commerce, the Greater Albuquerque Chamber of Commerce, the Albuquerque Hispano Chamber of Commerce, and Western Resource Advocates (WRA).
The stipulated agreement would have provided more than $300 million in benefits to New Mexico customers and communities, while implementing safeguards to ensure continued local control of utility operations and reliable service to customers. The extension filed today will allow the companies time to continue to work together through the appeal process. As amended, the Merger Agreement may be terminated by both AVANGRID and PNMR under certain circumstances, including if the Merger is not consummated by April 20, 2023, subject to a three-month extension by AVANGRID and PNMR by mutual consent subject to various closing conditions.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT, with approximately $39 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by Forbes and Just Capital as one of the 2021 JUST 100 companies – a list of America’s best corporate citizens – and was ranked number one within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
Forward-Looking Statements
Certain statements made in this press release that relate to future events or expectations, developments, projections, estimates, intentions, goals, targets, and strategies are made pursuant to the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, and are generally identified by words such as “may,” “will,” “would,” “can,” “expect(s),” “intend(s),” “anticipate(s),” “estimate(s),” “believe(s),” “future,” “could,” “should,” “plan(s),” “aim(s),” “assume(s)”, “project(s)”, “target(s)”, “forecast(s)”, “seek(s)” and or the negative of such terms or other variations on such terms, comparable terminology or similar expressions. These forward-looking statements generally include statements regarding the potential transaction between Avangrid and PNMR, including any statements regarding the expected timetable for completing the potential merger, the ability to complete the potential merger, the expected benefits of the potential merger, projected financial information, future opportunities, and any other statements regarding Avangrid’s and PNMR’s future expectations, beliefs, plans, objectives, results of operations, financial condition and cash flows, or future events or performance. Readers are cautioned that all forward-looking statements are based upon current reasonable beliefs, expectations and assumptions. Neither Avangrid nor PNMR assumes any obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, Avangrid and PNMR caution readers not to place undue reliance on these statements. Avangrid’s and PNMR’s business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond its control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see Avangrid’s Form 10-K and Form 10-Q filings and the information filed on Avangrid’s Forms 8-K with the Securities and Exchange Commission (the “SEC”) as well as its subsequent SEC filings, and the risks and uncertainties related to the proposed merger with PNMR, including, but not limited to: the expected timing and likelihood of completion of the pending merger, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending merger that could reduce anticipated benefits or cause the parties to abandon the transaction, the failure by Avangrid to obtain the necessary financing arrangement set forth in commitment letter received in connection with the merger, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, the possibility that PNMR’s shareholders may not approve the merger agreement, the risk that the parties may not be able to satisfy the conditions to the proposed merger in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed merger, and the risk that the proposed transaction and its announcement could have an adverse effect on the ability of PNMR to retain and hire key personnel and maintain relationships with its customers and suppliers, and on its operating results and businesses generally. Other unpredictable or unknown factors not discussed in this communication could also have material adverse effects on forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.
Media:
Zsoka McDonald (203) 997-6892
or This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors:
Patricia Cosgel (203) 499-2624
or This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Microelectromechanical System (MEMS): R&D Portfolio Assessment and Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
The need for adapting Microelectromechanical Systems (MEMS) technologies is rooted in the requirement to enable high and faster on-chip data processing needs across all industries. MEMS technology has drastically evolved over the years with a high need for miniature smart sensors with high efficiency.
The key factors that are driving the MEMS technology are the advancements in the automobile, consumer electronics industries, healthcare, data storage industries. The implementation of Artificial Intelligence (AI), Machine Learning (ML), Big Data, and digitalization across industries have increased the quantities of data drastically, leading to a crucial demand for efficient processing technologies.
This technology and innovation report offers insights into the ongoing developments in MEMS technology. The research scope focuses on the technology of existing MEMS devices and emerging technologies in the field, such as MEMS mirror, thermopiles, biodegradable batteries, intrabody communications, event-driven sensors, and lab-on-chip.
Key Questions Answered in the Technology and Innovation Study
Key Topics Covered:
1. Strategic Imperatives
2. Growth Environment
2.1 Scope of the Technology and Innovation Research
2.2 Research Methodology
2.3 Research Process and Methodology
2.4 Key Findings
3. MEMS: Technology Landscape
3.1 MEMS - Technology Overview
3.2 Technology Overview - Components of MEMS
3.3 Technology Overview - Benefits of MEMS Technology
3.4 Technology Overview - Strength and Weakness of MEMS Technology
4. Key Technologies and Industrial Usage Practices of MEMS
4.1 MEMS Accelerometers and Gyroscopes Offer Motion Sensing Capabilities
4.2 MEMS Pressure Sensors and Magnetic Field (MF) Sensors Enable Devices With High Responsiveness
4.3 Optical and Fluidic MEMS Enabling High Sensing Capabilities
4.4 Global Patent Assessment of MEMS Technologies
4.5 Patent Filing Shows Potential Application for MEMS Beyond the Automobile Sector
5. Factors Influencing Technology Development and Adoption of MEMS
5.1 Advancements in Automotive and Consumer Electronics Industries are the Driving Force for Developments in MEMS Technologies
5.2 Restraints for Technology Adoption - Lack of a Standardized Fabrication Process Hinders the Adoption of Data Storage Technologies
5.3 Next-gen MEMS Technologies Cater to a Wide Range of Industrial Applications
5.4 Thin-film Piezoelectric Resonators and Intra-body Communications Enabling New Possibilities
5.5 Emerging Trends in Biodegradable and Temperature-sensing MEMS Technology
5.6 MEMS Technologies Catering to Health and Wellbeing Market Needs
6. Emerging Opportunities for MEMS Technologies
6.1 Impact of Advancements in MEMS Technology Across Various Industries
6.2 MEMS Paving the Way for Disruptive Technologies in Automobiles
6.3 Healthcare Technology Advancements Enabled by MEMS
6.4 MEMS Technology Enabling Security Applications in Military and Defense Sectors
6.5 Data Storage Technologies Made Better With MEMS
7. Industry Best Practices: Strategic Partnerships, Mergers and Acquisitions, New Product Launches
7.1 Mergers and Acquisitions Among Top Participants Paves the Way for Efficient MEMS Technology
7.2 Strategic Alliances to Deliver New Capabilities in MEMS Technologies
7.3 Product Innovation Focused on Efficient MEMS Technology Catering to Automotive Needs
7.4 New Product Launch By TDK Delivering Integrated Solution
8. Companies to Action
8.1 SmartMotion MEMS Sensors For Electronics and IoT Applications
8.2 Smart Multi Sensor MEMS Device Offering Efficient Technology
8.3 MEMS Accelerometer Powered WIFI Sensors for Industrial Applications
8.4 Next-gen MEMS Accelerometer for Automotive Applications
8.5 Gas Mass Flow Meter Sensors With MEMS Technology
9. Growth Opportunities
9.1 Growth Opportunity 1: Integration of MEMS With Machine Learning and Artificial Intelligence Technologies for Connected Devices
9.2 Growth Opportunity 2: MEMS Technology in Automotive Sector to Aid Safety Parameters
9.3 Growth Opportunity 3: Advancements in Enabling Technologies Encouraging Active Research in MEMS
10. Key Contacts
11. Next steps
For more information about this report visit https://www.researchandmarkets.com/r/t3r29a
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
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OVERLAND PARK, Kan.--(BUSINESS WIRE)--The following unaudited balance sheet information and asset coverage ratio update is provided for Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF).
As of December 31, 2021, the company’s unaudited total assets were approximately $260.7 million and its unaudited net asset value was $234.9 million, or $17.41 per share.
As of December 31, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 1,059%. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.
Set forth below is a summary of the company’s unaudited balance sheet at December 31, 2021.
Unaudited balance sheet
|
(in Millions) |
Per Share |
|||
Investments |
$ 257.5 |
$ 19.09 |
|||
Cash and Cash Equivalents |
0.6 |
0.05 |
|||
Other Assets |
2.6 |
0.19 |
|||
Total Assets |
260.7 |
19.33 |
|||
|
|
|
|||
Credit Facility Borrowings |
24.5 |
1.82 |
|||
|
|
|
|||
Other Liabilities |
1.3 |
0.10 |
|||
Net Assets |
$234.9 |
$17.41 |
|||
13.49 million common shares outstanding. |
|||||
The top 10 holdings for TEAF as of the most recent month-end can be found on the fund’s portfolio web page at cef.ecofininvest.com/funds/teaf.
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.
Maggie Zastrow at (913) 981-1020 or This email address is being protected from spambots. You need JavaScript enabled to view it.
WOBURN, Mass.--(BUSINESS WIRE)--#VEIR--VEIR, a new superconducting electric transmission company, welcomes the New Year with new office and technology development space in Woburn, Massachusetts. VEIR is developing the next generation electric transmission lines that use liquid nitrogen to cool superconducting materials that can move five-times the amount of electricity as conventional copper or aluminum wires. The technology comes at a time when major studies indicate that the United States must double or triple the amount of transmission capacity the country needs to connect more renewable energy to the electric grid and combat climate change. VEIR’s new space encompasses 13,000 square feet. It includes 11,000 square feet of laboratory space with a 24-foot ceiling and a footprint long enough to allow the installation of test beds of more than one-hundred feet in length. The new space will help to accelerate VEIR’s technical testing and the deployment of its superconductors to the grid.
“This location suits our needs perfectly,” said VEIR’s Chief Technology Officer, Tim Heidel. “In this space we have the room to run long test beds where we can prove and perfect the performance of our lines. Once we demonstrate that the technology works here in the lab, we will then quickly move the system into the field to demonstrate of how it works when connected to the electric grid.”
VEIR projects that use of its new superconductors will aid in the siting and permitting of new electric transmission lines – an increasing challenge to the needed expansion of the electric grid. “The use of VEIR’s superconductors will reduce the physical footprint and environmental impact of new transmission lines,” said VEIR’s Chief Executive Officer Adam Wallen. “With VEIR’s superconducting lines electric utilities and other transmission companies can use their existing rights-of-way to move five times the amount the power without expanding the width of the right-of-way or using taller transmission towers. From a practical perspective that should make siting and permitting easier.”
VEIR intends to have an official ribbon-cutting opening of its new facility in the second quarter of 2022. The company employs a dozen people and expects to double that number in the next year.
VEIR, Inc. (www.VEIR.com) was founded in 2020. It is funded by Breakthrough Energy Ventures, Congruent, and The Engine. It closed Series A funding of $12M in March 2021.
Stephen Conant
VP Commercial
(781) 635-7205
HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) announced today that Jonathan Stein, Chief Financial Officer, and Jennifer Gordon, Vice President, Investor Relations, will meet with investors on January 6, 2022 at the Goldman Sachs Global Energy and Clean Technology Conference and on January 11-12, 2022 at the UBS Winter Infrastructure and Energy Conference.
A presentation has been posted in the “Investors” section of the Hess Midstream website at www.hessmidstream.com.
About Hess Midstream
Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. More information is available at www.hessmidstream.com.
Forward Looking Statements
This press release may include forward-looking statements within the meaning of the federal securities laws. Generally, the words “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “believe,” “intend,” “project,” “plan,” “predict,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results and current projections or expectations. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the filings made by Hess Midstream with the U.S. Securities and Exchange Commission, which are available to the public. Hess Midstream undertakes no obligation to, and does not intend to, update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Investor Contact:
Jennifer Gordon
(212) 536-8244
Media Contact:
Robert Young
(713) 496-6076
Company Positions Itself for Anticipated Exponential Growth of Sustainable Wood Energy Markets and Large-Scale Industrial Decarbonization
BETHESDA, Md.--(BUSINESS WIRE)--#AlternativeEnergy--Today marks Enviva Inc.’s first full trading day as a corporation on the New York Stock Exchange (NYSE: EVA) following its successful conversion (the “Conversion”) from Enviva Partners, LP, a master limited partnership, to Enviva Inc. (“Enviva”), a Delaware corporation, on December 31, 2021. As part of the Conversion, Enviva also announced the appointment of three new members to its board and changes that will further strengthen its executive leadership team.
Enviva is pleased to welcome Eva T. Zlotnicka, Martin N. Davidson, Ph.D., and Fauzul Lakhani to the board of directors of Enviva Inc., joining fellow directors Ralph Alexander, John C. Bumgarner, Jr., Jim H. Derryberry, Gerrit (“Gerrity”) L. Lansing, Jr., Pierre F. Lapeyre, Jr., David M. Leuschen, Jeffrey W. Ubben, Gary L. Whitlock, and Janet S. Wong, each of whom had also served on the board of directors of the general partner of Enviva Partners, LP prior to the Conversion. All of the directors of Enviva Inc., except Chairman and Chief Executive Officer John Keppler, meet the NYSE standards for independence.
“It’s an honor to welcome three exceptionally talented individuals to the Enviva board,” said Keppler. “Eva, Martin, and Fauzul bring critical business acumen and unique perspectives to the boardroom that are key to our long-term success. As a leader in impact investing with a deep background not only in environmental science and sustainability but also in Environmental, Social, and Governance (ESG) analytics, we are very pleased that Eva has agreed to chair Enviva’s Health, Safety, Sustainability, and Environmental committee of the board. Martin is one of the foremost thought leaders on diversity, organizational behavior, and leadership and, prior to joining the board, had been engaged with Enviva, advising on diversity and employee initiatives. Fauzul joins the Enviva Inc. board following his service as a member of the board of Enviva’s prior sponsor, and we are looking forward to the continuity of the breadth and depth of his expertise with Enviva and his understanding of the energy sector and capital markets. Collectively, we believe the strategic counsel of Eva, Martin, and Fauzul will be invaluable as we chart our path forward.”
Today, Enviva also announced changes to its executive leadership team. Roxanne Klein has joined Enviva as its new Chief Human Resources Officer. Ms. Klein most recently served as Senior Vice President and Chief Human Resources Officer for Knoll, Inc., one of the world’s leading global manufacturers of office and other furniture, from 2015 until 2021. With more than 20 years of human resources leadership experience in a variety of businesses, Ms. Klein has an extensive and proven background building successful talent acquisition and development teams and driving best practices in people management and social impact. Ms. Klein’s substantial expertise will help Enviva attract, retain, develop, and grow the necessary human resources to guide Enviva through this exciting, expansive period of growth.
Thomas Meth, a co-founder of Enviva and leader of Enviva’s global marketing and sales strategy for the past seventeen years, has been promoted to the role of Chief Commercial Officer. Mr. Meth has been instrumental in the company’s growth, developing solutions to complex issues in Enviva’s supply chain while working with Enviva’s customers to lower their dependence on coal and other fossil fuels. As Enviva enters new markets across the globe, Mr. Meth will lead the effort to explore additional applications for sustainable wood biomass, particularly in hard-to-abate industrial sectors. He will also continue to guide Enviva’s pledge to achieve net-zero greenhouse gas emissions in its operations and enable other industries to do the same.
“As part of our conversion from a partnership to a corporation, I believe we have evolved our proven, successful business into an even better corporate structure,” said Keppler. “Given the long-term contracted nature of our business and the tremendous opportunities we see ahead as the world continues to focus on the energy transition and decarbonization of hard-to-abate sectors in order to reach net-zero and limit the effects of climate change, our success will be driven by the people who choose to work with and for Enviva today, tomorrow, and every day moving forward. I am incredibly proud of the diverse and independent board of directors and the tremendously accomplished leadership team we have assembled at Enviva to lead the way. It is very exciting to join them as we start the next chapter of this amazing business as Enviva Inc.”
Appointed Director Biographies
Eva T. Zlotnicka is a Founder, Managing Partner, President, and member of the Management Committee of Inclusive Capital Partners, a San Francisco-based investment firm that partners with companies that enable solutions to address environmental and social problems. Before founding Inclusive Capital Partners, she was a Founder and Managing Director of the ValueAct Spring Fund and Head of Stewardship at ValueAct Capital. Prior to joining ValueAct Capital in 2018, Ms. Zlotnicka spent more than ten years on the sell side. Most recently, she was U.S. lead Sustainability and Environmental, Social and Governance (E.S.G.) equity research analyst at Morgan Stanley. Ms. Zlotnicka is a director of Unifi, Inc., where she serves on the Audit Committee and serves as chairman for the Corporate Governance and Nominating Committee. Ms. Zlotnicka was previously a director of Hawaiian Electric Industries, where she was a member of the Compensation Committee. Ms. Zlotnicka also serves as a member of the Investor Advisory Group for the Sustainability Accounting Standards Board (SASB) and is a member of the Advisory Board of the Institute for Corporate Governance and Finance at N.Y.U. Law. Ms. Zlotnicka also co-founded Women Investing for a Sustainable Economy (WISE), a global professional community. She has two B.S.c. degrees from the University of Pennsylvania, including one from the Wharton School, and an M.B.A and a Master of Environmental Science degree from Yale University.
Martin N. Davidson, Ph.D., is the Johnson & Higgins Professor of Business Administration at the University of Virginia’s Darden School of Business. He currently serves as senior associate dean and global chief diversity officer for the school. He teaches, conducts research, and consults with global leaders to help them use diversity strategically to drive high performance. His thought leadership has changed how many executives approach inclusion and diversity in their organizations. His book, The End of Diversity as We Know It: Why Diversity Efforts Fail and How Leveraging Difference Can Succeed, co-authored with Heather Wishik, introduces a research-driven roadmap to help leaders more effectively create and capitalize on diversity in organizations. Dr. Davidson has consulted with leaders of a host of global firms, government agencies, and social profit organizations, including Bank of America, The World Health Organization, The Walt Disney Company, Credit Suisse Group, The Nature Conservancy, and the U.S. Navy SEALs. Dr. Davidson has been featured in numerous media outlets, including The New York Times, Bloomberg BusinessWeek, The Wall Street Journal, The Washington Post, National Public Radio, and CNN. He has been a member of the Darden faculty since 1998. Previously, he was a member of the Amos Tuck School of Business faculty at Dartmouth College. He earned his A.B. from Harvard University and his Ph.D. from Stanford University.
Fauzul Lakhani is a Principal of Riverstone Holdings L.L.C. Prior to joining Riverstone in 2012, Mr. Lakhani was with Credit Suisse in the Global Investment Banking Group. While at Credit Suisse, Mr. Lakhani worked on M&A transactions and capital markets financings, with a focus on the energy sector. Mr. Lakhani graduated with honors from the University of Texas at Austin with a B.B.A. in Finance. He currently serves on the B.B.A. Advisory Board of the McCombs School of Business.
About Enviva
Enviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to decarbonize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuels. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.
Cautionary Note Concerning Forward-Looking Statements
The information included herein and in any oral statements made in connection herewith 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 present or historical fact included herein, regarding Enviva’s future financial performance, as well as Enviva’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans, and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms, and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Enviva disclaims any duty to revise or update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Enviva.
INVESTOR:
Kate Walsh
Vice President, Investor Relations
+1 240-482-3856
This email address is being protected from spambots. You need JavaScript enabled to view it.
MEDIA:
Frederick Jones
Vice President, Communications
+1 240-571-0672
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OVERLAND PARK, Kan.--(BUSINESS WIRE)--Tortoise today announced the following unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP and TPZ.
Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that as of December 31, 2021, the company’s unaudited total assets were approximately $573.6 million and its unaudited net asset value was $424.9 million, or $35.63 per share.
As of December 31, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 544%, and its coverage ratio for preferred shares was 405%. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.
Set forth below is a summary of the company’s unaudited balance sheet at December 31, 2021.
Unaudited balance sheet |
||||
|
(in Millions) |
Per Share |
||
Investments |
$572.0 |
|
$47.95 |
|
Cash and Cash Equivalents |
0.3 |
|
0.03 |
|
Other Assets |
1.3 |
|
0.11 |
|
Total Assets |
573.6 |
|
48.09 |
|
|
|
|
||
Short-Term Borrowings |
17.9 |
|
1.50 |
|
Senior Notes |
85.8 |
|
7.20 |
|
Preferred Stock |
35.7 |
|
2.99 |
|
Total Leverage |
139.4 |
|
11.69 |
|
|
|
|
||
Other Liabilities |
2.6 |
|
0.21 |
|
Current Tax Liability |
6.7 |
|
0.56 |
|
|
|
|
|
|
Net Assets |
$ 424.9 |
|
$ 35.63 |
|
11.93 million common shares currently outstanding. |
||||
Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) today announced that as of December 31, 2021, the company’s unaudited total assets were approximately $276.7 million and its unaudited net asset value was $211.5 million, or $37.48 per share.
As of December 31, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 647%, and its coverage ratio for preferred shares was 441%. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.
Set forth below is a summary of the company’s unaudited balance sheet at December 31, 2021.
Unaudited balance sheet |
||||
|
(in Millions) |
Per Share |
||
Investments |
$ 275.6 |
$ 48.84 |
||
Cash and Cash Equivalents |
0.3 |
0.06 |
||
Other Assets |
0.8 |
0.13 |
||
Total Assets |
276.7 |
49.03 |
||
|
|
|
||
Short-Term Borrowings |
10.1 |
1.79 |
||
Senior Notes |
32.2 |
5.70 |
||
Preferred Stock |
19.7 |
3.49 |
||
Total Leverage |
62.0 |
10.98 |
||
|
|
|
||
Other Liability |
1.3 |
0.24 |
||
Current Tax Liability |
1.9 |
0.33 |
||
|
|
|
||
Net Assets |
$ 211.5 |
$ 37.48 |
||
5.64 million common shares currently outstanding. |
||||
Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) today announced that as of December 31, 2021, the company’s unaudited total assets were approximately $84.0 million and its unaudited net asset value was $63.8 million, or $28.62 per share.
As of December 31, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 616%, and its coverage ratio for preferred shares was 425%. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.
Set forth below is a summary of the company’s unaudited balance sheet at December 31, 2021.
Unaudited balance sheet |
||||
|
(in Millions) |
Per Share |
||
Investments |
$ 83.1 |
|
$ 37.28 |
|
Cash and Cash Equivalents |
0.5 |
|
0.23 |
|
Other Assets |
0.4 |
|
0.19 |
|
Total Assets |
84.0 |
|
37.70 |
|
|
|
|
|
|
Short-Term Borrowings |
9.6 |
|
4.31 |
|
Senior Notes |
3.9 |
|
1.77 |
|
Preferred Stock |
6.1 |
|
2.74 |
|
Total Leverage |
19.6 |
|
8.82 |
|
|
|
|
|
|
Other Liabilities |
0.6 |
|
0.26 |
|
Net Assets |
$ 63.8 |
|
$ 28.62 |
|
2.23 million common shares currently outstanding. |
||||
Tortoise Energy Independence Fund, Inc. (NYSE: NDP) today announced that as of December 31, 2021, the company’s unaudited total assets were approximately $50.1 million and its unaudited net asset value was $47.4 million, or $25.67 per share.
As of December 31, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 2,075%. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.
Set forth below is a summary of the company’s unaudited balance sheet at December 31, 2021.
Unaudited balance sheet |
||||
|
(in Millions) |
Per Share |
||
Investments |
$ 49.5 |
|
$ 26.83 |
|
Cash and Cash Equivalents |
0.4 |
|
0.24 |
|
Other Assets |
0.2 |
|
0.07 |
|
Total Assets |
50.1 |
|
27.14 |
|
|
|
|
||
Credit Facility Borrowings |
2.4 |
|
1.30 |
|
|
|
|
|
|
Other Liabilities |
0.3 |
|
0.17 |
|
Net Assets |
$ 47.4 |
|
$ 25.67 |
|
1.85 million common shares currently outstanding. |
||||
Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today announced that as of December 31, 2021, the company’s unaudited total assets were approximately $125.2 million and its unaudited net asset value was $100.4 million, or $15.39 per share.
As of December 31, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 513%. For more information on the company’s coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.
Set forth below is a summary of the company’s unaudited balance sheet at December 31, 2021.
Unaudited balance sheet |
||||
|
(in Millions) |
Per Share |
||
Investments |
$ 123.7 |
|
$ 18.95 |
|
Cash and Cash Equivalents |
0.5 |
|
0.08 |
|
Other Assets |
1.0 |
|
0.16 |
|
Total Assets |
125.2 |
|
19.19 |
|
|
|
|
|
|
Credit Facility Borrowings |
24.3 |
|
3.72 |
|
|
|
|
|
|
Other Liabilities |
0.5 |
|
0.08 |
|
Net Assets |
$ 100.4 |
|
$ 15.39 |
|
6.53 million common shares currently outstanding. |
||||
The top 10 holdings for TYG, NTG, TTP, NDP and TPZ as of the most recent month-end can be found on each fund’s portfolio web page at https://cef.tortoiseecofin.com.
About Tortoise
Tortoise focuses on energy & power infrastructure and the transition to cleaner energy. Tortoise’s solid track record of energy value chain investment experience and research dates back more than 20 years. As one of the earliest investors in midstream energy, Tortoise believes it is well-positioned to be at the forefront of the global energy evolution that is underway. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. To learn more, please visit www.TortoiseEcofin.com.
Tortoise Capital Advisors, L.L.C. is the adviser to Tortoise Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy Independence Fund, Inc. and Tortoise Power and Energy Infrastructure Fund, Inc.
For additional information on these funds, please visit cef.tortoiseecofin.com.
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 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and Tortoise Capital Advisors 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 funds and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.
For more information contact:
Maggie Zastrow
(913) 981-1020
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MIAMI--(BUSINESS WIRE)--World Fuel Services Corporation (NYSE: INT) today announced the completion of the previously announced acquisition of Flyers Energy Group (“Flyers”).
Headquartered in Auburn, California, Flyers’ operations include transportation, commercial fleet fueling, lubricants distribution, and the supply of wholesale, branded and renewable fuels to more than 12,000 customers. Flyers’ leading national network of cardlock locations is the largest in the United States.
“This is an important day for World Fuel as we closed the largest acquisition in our company’s history,” stated Michael J. Kasbar, chairman and chief executive officer. “We are excited to welcome the highly talented and successful Flyers team to World Fuel, creating an expanded national platform to deliver value-added solutions to commercial and industrial customers across the United States.”
“Solid balance sheet management and strong cash flow has enabled us to fund this transaction while maintaining significant financial flexibility to invest in additional synergistic growth opportunities to further bolster our market position,” said Ira M. Birns, executive vice president and chief financial officer. “We expect this acquisition to be significantly accretive to earnings, cash flow and return on invested capital, driving greater shareholder value.”
Information Relating to Forward-Looking Statements
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our beliefs and expectations with respect to the impact of the acquisition on our financial performance, scale and geographic footprint, our ability to fund the transaction while maintaining financial flexibility to invest in additional growth opportunities, as well as our beliefs about our pipeline of additional investment opportunities and their ability to drive further growth and operating efficiencies. These forward-looking statements are qualified in their entirety by cautionary statements and risk factor disclosures contained in the Company’s Securities and Exchange Commission (“SEC”) filings, including the Company’s most recent Annual Report on Form 10-K filed with the SEC. Actual results may differ materially from any forward-looking statements due to risks and uncertainties, including, but not limited to: our ability to effectively integrate and derive the expected benefits from the acquisition, our ability to capitalize on new market opportunities, potential liabilities, limited indemnities and the extent of any insurance coverage, our ability to effectively manage the effects of the COVID-19 pandemic, the extent of the impact of the pandemic on ours and our customers' sales, profitability, operations and supply chains due to actions taken by governments and businesses to contain the virus, customer and counterparty creditworthiness and our ability to collect accounts receivable and settle derivative contracts, particularly for those customers most significantly impacted by the pandemic, sudden changes in the market price of fuel or extremely high or low fuel prices that continue for an extended period of time, the availability of cash and sufficient liquidity to fund our working capital and strategic investment needs, adverse conditions in the markets or industries in which we or our customers and suppliers operate such as the current global economic environment as a result of the coronavirus pandemic, our failure to comply with restrictions and covenants in our senior revolving credit facility and our senior term loans, including our financial covenants, our ability to manage the changes in supply and other market dynamics in the regions where we operate, our ability to successfully execute and achieve efficiencies, our ability to achieve the expected level of benefit from any restructuring activities and cost reduction initiatives, our ability to successfully implement our growth strategy and integrate acquired businesses and recognize the anticipated benefits, unanticipated tax liabilities or adverse results of tax audits, assessments, or disputes, our ability to capitalize on new market opportunities, risks related to the complexity of U.S. tax legislation and any subsequently issued regulations and our ability to accurately predict the impact on our effective tax rate and future earnings, our ability to effectively leverage technology and operating systems and realize the anticipated benefits, potential liabilities and the extent of any insurance coverage, actions that may be taken under the current administration in the U.S. that increase costs or otherwise negatively impact ours or our customers and suppliers businesses, the outcome of pending litigation and other proceedings, the impact of quarterly fluctuations in results, particularly as a result of seasonality, supply disruptions, border closures and other logistical difficulties that can arise when sourcing and delivering fuel in areas that are actively engaged in war or other military conflicts, our failure to effectively hedge certain financial risks associated with the use of derivatives, uninsured losses, the impact of climate change and natural disasters, adverse results in legal disputes, and other risks detailed from time to time in our SEC filings. New risks emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, changes in expectations, future events, or otherwise, except as required by law.
About World Fuel Services Corporation
Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.
For more information, call 305-428-8000 or visit www.wfscorp.com.
Ira M. Birns, Executive Vice President & Chief Financial Officer
Glenn Klevitz, Vice President, Treasurer & Investor Relations
(305) 351-4763
HUNTERSVILLE, N.C.--(BUSINESS WIRE)--#additivemanufacturing--Oerlikon Metco Coating Services (MCS) is pleased to announce that the company’s new laser cladding service center is fully operational in Huntersville, NC, a suburb of Charlotte NC.
As previously communicated last year, Oerlikon would expand their existing world-class additive manufacturing facility to include laser cladding and thermal spray services; thereby implementing a service “super center” under one roof and allowing the company to conveniently offer “Print & Coat” parts.
Laser cladding services are now fully operational at this facility with the ability to offer O.D. and I.D. coatings, as well as laser hardening, pre- and post-machining and inspection services.
The facility is well-equipped to handle a wide range of parts, with a maximum part weight of 15,000 lb (6,800 kg), maximum part length of 480 in (12,192 mm). Outside diameters up to 96 in (2438 mm), as well as inside diameters from 2 in to 120 in (50.8 mm to 3048 mm) can be processed.
Experienced personnel at the Huntersville location and the company’s long history of laser cladding solution development will serve the aerospace, energy and automotive markets, among others.
“Laser cladding is increasingly an important process in the services that Oerlikon, through Oerlikon Metco Coating Services, can offer. We are therefore excited to see this new facility now in operation and already serving our customers,” states Thomas Meier, Global Head of Sales for Metco Coating Services. The substantial investment at the Huntersville facility, along with a recent significant investment in new, leading edge laser cladding equipment at the company’s Wohlen, Switzerland facility, clearly punctuates the importance of laser cladding to the overall coating service strategy. In addition, the company continues to develop new materials optimized for the laser cladding process.
In addition to the laser cladding expansion at Huntersville, thermal spray coating equipment is currently being installed and planned to be operational at the same location at the end of Q1 2022.
About Oerlikon Metco
Oerlikon Metco enhances surfaces that bring benefits to customers through a uniquely broad range of surface technologies, equipment, materials, services, specialized machining services and components. The surface technologies such as Thermal Spray, Laser Cladding and Laser Hardening improve the performance and increase efficiency and reliability. Oerlikon Metco serves industries such as aviation, power generation, automotive, oil & gas, industrial and other specialized markets and operates a dynamically growing network of more than 40 sites in EMEA, Americas and Asia Pacific. Oerlikon Metco, together with Oerlikon Balzers, and Oerlikon AM belong to the Surface Solutions Segment of the Switzerland-based Oerlikon Group (SIX: OERL).
About Oerlikon AM
Oerlikon AM is a leading provider of additive and conventional manufacturing solutions with metals and polymers. The extensive portfolio of solutions offered by Oerlikon AM ranges from the co-development and contract manufacturing of high-quality and performance-optimized components, through research and development, to the production of the company’s own metal powders for 3D printing. Moreover, materials, process and applications engineering, certified manufacturing processes, post-processing of components and quality management enable Oerlikon AM to provide its global circle of customers from different industries with optimally customized comprehensive solutions. Oerlikon AM supplies the aerospace, energy, automotive and tooling sectors as well as various other high-tech industries. Together with Oerlikon Balzers and Oerlikon Metco, Oerlikon AM forms the Surface Solutions segment of the Swiss-based Oerlikon Group (SIX: OERL). The segment provides unique and integrated solutions from material selection, through to manufacturing, post-processing, and coating of functional components. As part of the Oerlikon Group, which has 10 600 employees in 37 countries, Oerlikon AM now employs more than 200 people at its four sites throughout Europe, the United States and China.
More information available at: https://www.oerlikon.com/am
For further information, please contact:
Karen Sender
Manager Marketing and Communications
Oerlikon Metco
T +1 516 338 2222
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www.oerlikon.com/metco
BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator today provides an update on its Board of Directors.
GeoPark announces a change to its Board of Directors with the retirement of Mr. Pedro Aylwin, effective December 31, 2021. The Board expresses its thanks and gratitude to Pedro for his invaluable service to, and support of the Company. Mr. Aylwin has a long history with GeoPark that includes his roles as Head of Legal and Governance since 2011 and Board member since 2013. He has been a significant contributor to GeoPark’s corporate governance enhancements and sustainable growth over all this time.
Mr. Aylwin will continue as Head of Legal and Governance until the Company completes an ongoing executive search process.
The Board will not replace Mr. Aylwin and will reduce its size by one position, leaving six Directors in total and thus increasing the independent Board member majority to 66.6%.
Sylvia Escovar, Chairman of the Board, said, “There are no words to express our gratitude to Pedro for his significant contributions to the Board. We wish him the best in his future plans in Chile and will uphold his values, his long-term vision and his commitment to every one of our stakeholders.”
NOTICE
Additional information about GeoPark can be found in the “Investor Support” section on the website at www.geo-park.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.
Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief, or current expectations, regarding various matters, including the composition of our board of directors. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.
Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).
INVESTORS:
Stacy Steimel
Shareholder Value Director
T: +562 2242 9600
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Miguel Bello
Market Access Director
T: +562 2242 9600
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Diego Gully
Investor Relations Director
T: +5411 4312 9400
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MEDIA:
Communications Department
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First institutional grade specialized storage platform focused on the growing needs of the recreational and marine storage industry
DALLAS--(BUSINESS WIRE)--Recreational Realty LLC (“Company”), a leading owner, operator and developer of specialized recreational vehicle and marine storage facilities, announced a joint venture of the Company led by funds affiliated with Centerbridge Partners, L.P. (“Centerbridge”), and entities affiliated with WOJO Capital Partners, LLC (“WOJO”).
Recreational Realty is the first institutional grade specialized storage company focused on serving the growing storage needs for recreational and marine vehicles. “Over the past several years, we have seen a steadily increasing growth trend, accelerated by the COVID pandemic and the acceptance of a permanent ‘work from anywhere’ lifestyle, which has led to record breaking RV and boat sales,” said Gary Wojtaszek, Founder and CEO of Recreational Realty. “Our goal is to become the leading owner, operator and developer of high-quality, purpose-built recreational storage facilities, and the partnership with Centerbridge will accelerate our growth across the country as we build a national platform.”
“Centerbridge is excited to be partnering with WOJO and the team at Recreational Realty. The RV and boat storage business falls squarely within our investment themes, focused on the convergence of increasing experiential leisure trends driving an additional need for storage. Gary is an exceptional business leader and we look forward to working alongside him and the Recreational Realty team to help them build another successful real estate company,” said William Rahm, Senior Managing Director and Global Head of Real Estate at Centerbridge. Matt Dabrowski, Managing Director at Centerbridge, added, “Recreational Realty has a compelling business model and a clear path to thrive in a growing industry. There is a tremendous need for secure and professionally managed storage options for recreational vehicles and boats. The Company’s product and value proposition is well positioned to address this demand.”
HaynesBoone acted as legal counsel to WOJO and the Company. Simpson Thatcher acted as legal counsel to Centerbridge.
About Recreational Realty
Recreational Realty acquires, builds and manages specialized RV and Boat storage facilities across the United States. The company was founded to meet the burgeoning storage requirements of the owners of recreational and marine vehicles. The company caters to the needs of the outdoor enthusiast by providing highly secure and professionally maintained facilities that provide superior customer service. www.recreational-realty.com
About Centerbridge
Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines —from private equity to credit and related strategies, and real estate— in an effort to find the most attractive opportunities for our investors and business partners. The firm was founded in 2005 and as of September 30, 2021 has approximately $32 billion in capital under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies to help companies achieve their operating and financial objectives. For more information, please visit www.centerbridge.com.
About WOJO Capital Partners
WOJO Capital Partners was founded by Gary Wojtaszek to make investments in fast-growing real estate assets that have the potential to become large-scaled platforms with attractive returns and long term defensibility characteristics. Gary was previously the CEO of CyrusOne, which he grew from a small, private, regional data center company based in Cincinnati, Ohio to become one of the largest publicly traded REITs in the US with a global presence across the US, Europe, Asia and Latin America. He has a compelling track record of value creation, scaling CyrusOne from a $525 million investment, which was recently acquired by KKR for $15 billion. He has been involved in over $30 billion of capital market transactions over his career and has extensive international experience.
Stefan Woortmenker
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LAS VEGAS--(BUSINESS WIRE)--Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced the introduction of Quasar 2, the latest generation of its bidirectional home charger designed specifically for the North American market. As well as enabling EV owners to charge and discharge their electric vehicle to power their home or the grid, Wallbox’s latest innovation is designed to give EV drivers the ability to isolate their home from the grid and use their EV for backup power during a blackout.
“Bidirectional charging opens up numerous opportunities for smarter energy management in the home,” said Enric Asunción, co-founder and CEO of Wallbox. “Quasar 2 represents a breakthrough in the evolution of home energy management. Not only does it allow us to rethink the way we produce, store and use energy on a day-to-day basis, but has the potential to give users the added power and comfort of being able to power their homes for over three days during a power outage.”
Mitigating the impact of energy disruptions
Quasar 2 retains the advanced features and functionality of its predecessor, Quasar, while offering blackout mode, a first-of-its-kind feature that allows EV owners to use their car as an emergency generator in instances of power outages.
With Blackout Mode, users are able to use their EV battery to power their home in the event of a power outage, even those caused by natural disasters. Quasar 2 seamlessly transitions a home to vehicle energy when the power goes out. Depending on the car and energy usage Quasar 2 is expected to be able to power a home for more than three days during a blackout based on an average household's critical consumption.
“The average American experienced more than eight hours of power interruption in 2020,” said Douglas Alfaro, General Manager of Wallbox North America. “Whether it’s caused by an earthquake, hurricane, wildfire or simply related to an overload on the power grid, a power outage can have a detrimental impact on homeowners that can last for hours or even days. With blackout mode, we are able to offer EV owners some relief by helping mitigate the impact of a major energy disruption in the home.”
Significant cost savings
Quasar 2 allows EV owners to save on home energy costs through vehicle-to-home (V2H) functionality. In states where power rates are related to demand, users can schedule charging sessions at times when rates are low and discharge their car to power their home when rates are high. Users who have solar panel installations can also store excess energy in their EV during low usage periods and then harness this energy at another time, including peak periods, to reduce their reliance on the grid.
Next-level performance and ease-of-use
Quasar 2 has been designed to be compatible with existing infrastructure in the U.S. to promote optimal efficiency. Providing up to 11.5kW/48Amp of power for charging and discharging, it is even more powerful than its predecessor. Quasar 2 offers CCS compatibility and connects to the myWallbox app through Wifi, Bluetooth, Ethernet, or 4G.
Through the use of an accessory, users can unlock Quasar 2’s additional functionality that allows users to isolate their homes from the grid and power a critical load to their home with energy from their EV. On average, an EV can power a critical load for a home in the U.S. for at least three days.
Wallbox’s advanced EV charging and energy management systems
Wallbox will also showcase its extensive line of hardware and software solutions for the home, business and public sectors at CES 2022, including:
Home charging solutions:
Public Charging Solutions:
Business Solutions:
CES 2022: Where to find Wallbox
Wallbox will demo Quasar 2 at CES Unveiled (Table #507) and during the Expo in the West Hall 6627 of the Las Vegas Convention Center.
The company has planned to ramp up its digital presence at the event to ensure that even those unable to attend in person will have visibility of the show. You will be able to see Wallbox’s product unveilings, a guided tour of their booth and more through their official Youtube channel, Linkedin, Twitter, Instagram, and their CES2022 landing page.
About Wallbox
Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users' relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 80 countries.
Founded in 2015 and headquartered in Barcelona, the company now employs over 700 people in its offices in Europe, Asia, and the Americas.
For additional information, please visit www.wallbox.com.
Wallbox Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the features, expected production and effectiveness of Wallbox's products. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "may," "can," "should," "could," "might," "plan," "possible," "project," "strive," "budget," "forecast," "expect," "intend," "will," "estimate," "predict," "potential," "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.
These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Wallbox’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electronic vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox’s supply or manufacturing partners; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; and other important factors discussed under the caption "Risk Factors" in Wallbox’s final prospectus on Form 424(b)(3) filed with the SEC on November 12, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com.
These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
Sara Long
Spark for Wallbox
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DALLAS & HOUSTON--(BUSINESS WIRE)--#corporatefinance--Opportune LLP, a leading global energy business advisory firm, is pleased to announce that Ryan T. Senter has joined the firm as a Partner to lead the firm’s performance improvement practice. Mr. Senter brings over 25 years of experience advising Fortune 1000 companies in the consumer products, healthcare, energy, and financial services sectors. Mr. Senter’s principal focus will be expanding the firm’s cross-industry performance improvement practice and existing Dallas-Fort Worth advisory practices. This enhanced focus will span across multiple industries with an emphasis on serving client needs around corporate finance, capital management, merger integration, supply chain management, private equity advisory, operations improvement, restructuring, and technology solutions.
“I am thrilled to have Ryan join our growing team where he will bring meaningful value serving clients across multiple industry sectors who need expert advice on complex issues,” said David Baggett, Managing Partner of Opportune. “His vast experience in business performance improvement and client-focused mentality will be invaluable to our team and clients as we expand our presence in the Dallas-Fort Worth area.”
Before joining Opportune, Mr. Senter served with prestigious global consulting and advisory firms, including Executive Managing Director and Head of Performance Improvement at Riveron Consulting LLC, Global Managing Director at Protiviti Inc., and served as a Managing Director with Alvarez & Marsal. Mr. Senter began his career with Andersen Consulting/Accenture plc, where he worked in its Technology and Finance Performance Management solution groups.
“I am excited to be joining the outstanding team at Opportune and I look forward to working with such a dedicated group of professionals, continuing the growth of the Opportune brand,” added Mr. Senter.
Mr. Senter holds a B.A. from the University of Mississippi and completed the Advanced Business Management program at Yale University School of Management. He actively serves in several board-level positions supporting charities and causes in the Dallas-Fort Worth area such as Cook Children’s Medical Center, The Fort Worth Country Day School, and the James L. West Alzheimer Center for Continuing Care.
About Opportune LLP
Opportune LLP is a leading global energy business advisory firm specializing in adding value to clients across the energy industry, including upstream, midstream, downstream, power and gas, commodities trading, and oilfield services. Opportune’s service lines include complex financial reporting, disputes and litigations, enterprise risk, investment banking, outsourcing, process and technology, reserve engineering and geosciences, restructuring, strategy and organizational design, tax, transactional due diligence, and valuation. For additional information, please visit www.opportune.com.
Bryan Sims
713-490-5050
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