SAN ANTONIO--(BUSINESS WIRE)--Ironwood Midstream Energy Partners II, LLC (Ironwood II) today announced it has significantly expanded its crude oil midstream footprint in the Eagle Ford Shale as a result of an asset combination with Nuevo Midstream Dos (Nuevo). Ironwood II and Nuevo are both financially backed by EnCap Flatrock Midstream.
The Ironwood II leadership team has assumed management of the Nuevo assets including approximately 100 miles of crude oil gathering pipeline in Lavaca, Gonzalez, and Fayette counties that feed the Lavaca Terminal, which consists of 300,000 barrels of crude oil storage and a six-bay truck station. The system also includes a 26-mile intermediate pipeline that moves volumes from the terminal to third-party transportation pipelines with access to refineries, petrochemical plants and export terminals on the Texas Gulf Coast.
From the Ironwood II CEO
“This strategic combination marks an important step for Ironwood as we continue to expand our midstream infrastructure for Eagle Ford producers, offering safe, consistent and competitive access to premium and growing export and industrial markets along the Texas Gulf Coast,” said Ironwood Chairman, President and CEO Mike Williams. “We are also extremely fortunate to have Randy Ziebarth join our board as part of this merger. The Nuevo team has built an excellent system and we look forward to continuing to operate it with integrity and reliability.”
From Encap Flatrock Midstream
"We are excited about the consolidation of these complementary Eagle Ford assets as it further positions them for growth and value creation," said EnCap Flatrock Managing Partner Bill Waldrip. "The Nuevo team has a strong track record and EFM has enjoyed a long and successful partnership together. The team has built highly valuable relationships in the Eagle Ford and has done an excellent job commercializing these assets. I've personally known Mike and Randy for a very long time, and their collective skill sets, and deep roots and relationships will serve this combined platform well."
Increased Footprint Details
As a result of the combination, Ironwood II now operates approximately 400,000 barrels per day (bpd) of crude oil throughput capacity and 410 million cubic feet per day (MMcf/d) of natural gas throughput capacity in the Eagle Ford region. The company operates 390 miles of crude oil and natural gas pipelines with 245,000 dedicated net acres.
Ironwood II’s strategic footprint in the Eagle Ford provides multiple connections to long-haul pipelines and premium access to key Gulf Coast markets. Crude oil interconnects include Plains All American Pipeline, Harvest Pipeline Company, NuStar Logistics L.P., EPIC Crude Oil Pipeline, Kinder Morgan, Gray Oak Pipeline, Flint Hills Resources, The San Antonio Refinery and Enterprise Products Pipeline. Natural Gas interconnects include DCP Midstream, Energy Transfer and Enterprise.
In the Permian Basin, Ironwood operates a crude oil gathering system in Midland County with 40,000 bpd of throughput capacity that delivers to Centurion Pipeline.
Advisers
Mayer Brown acted as the legal counsel to Ironwood II. Locke Lord and Shearman & Sterling acted as legal advisers for Nuevo and Encap Flatrock Midstream, respectively.
About Ironwood Midstream II:
Ironwood Midstream Energy Partners II is an independent energy company that provides a full suite of midstream services to oil and natural gas producers across North America. Headquartered in San Antonio, Ironwood II operates approximately 390 miles of crude oil and natural gas pipelines with approximately 245,000 dedicated net acres. The Company is led by a team of seasoned industry professionals and is backed by EnCap Flatrock Midstream. For more information, visit www.ironwoodmidstream.com.
About EnCap Flatrock Midstream:
EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to new management teams from EFM Fund IV, a $3.25 billion fund. For more information, please visit www.efmidstream.com.
Meredith Hargrove Howard
Redbird Communications Group
210-737-4478
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BEVERLY, Mass.--(BUSINESS WIRE)--Easterly Asset Management’s Maritime Logistics Equity Partners (MLEP), a company formed last year to take advantage of the meaningful dislocations and opportunities in international shipping markets, announced today that it is launching its second chemical tanker tranche.
“Due to the success of our first tranche, in which we have acquired four stainless steel tankers to date, we are excited to launch our second tranche for investors. There continues to be compelling opportunity to invest in pre-owned chemical tankers, given the limited supply and growing demand for the vessels, a low future orderbook for shipping construction and the expansion of chemical trade lanes,” said Darrell Crate, Managing Principal of Easterly Asset Management and MLEP’s Chief Executive Officer. “We now know that the dislocation and subsequent investment opportunity is greater than we first thought, and not just in the stainless steel sub-sector, but also more broadly in other sized chemical tankers as well.”
So far in Tranche I, MLEP has acquired four ships built in 2007 and 2008:
All four of these ships are similarly sized Japanese built J19 Stainless Steel Chemical Tankers. In its second tranche, MLEP plans to acquire all sizes of chemical tankers, including stainless and coated vessels of larger sizes such as MRs and Handysize tankers. Easterly plans to raise between $150-250 million of equity and will target acquiring 15-20 more ships.
MLEP is responding to industry trends, including a decline in the building of chemical tankers intended for the transport of bulk liquids such as palm oil, molasses, feedstock and other commodities. Following a construction boom that peaked in 2008, shipbuilders are now focused on building other tanker types and sizes. With increasing chemical production, tight ship supply and a lack of liquidity in the capital markets for new tankers, there is growing demand for such vessels. MLEP is acquiring tankers built during the boom but with years of productive life remaining and putting them out for hire through WOMAR. “A tight shipping supply, combined with increased global chemical production, is a powerful tailwind for existing vessels,” added Crate.
MLEP will again place all of its MLEP II acquired vessels into WOMAR’s Tanker Pools. WOMAR Chief Executive Officer Hans Van der Zijde said, “We welcome the opportunity to continue to work with MLEP and to build a long-lasting commercial asset management relationship.
About Darrell Crate
In addition to serving as CEO of MLEP, Crate founded private investment firm Easterly in 2009. He holds leadership positions in ventures including multi-affiliate manager Easterly Asset Management; Easterly Funds, a mutual fund platform; value manager Easterly Investment Partners; and Easterly EAB Risk Solutions, which provides defensive equity and derivatives strategies to help clients manage portfolio risk.
About Maritime Logistics Equity Partners
Maritime Logistics Equity Partners (MLEP) is a company formed to raise capital to take advantage of various opportunities in the international shipping markets. The Company’s objective is to provide investors with an attractive level of regular, growing income and capital returns by investing in previously owned chemical tankers. The company expects a robust chemical tanker market due to a historically low order book, a lack of liquidity in the capital markets for new tankers, expanding ton-mile demand for chemical tankers and additional cargo coming online in 2021 and beyond. Investors gain exposure to MLEP through a private placement sponsored by Easterly Asset Management.
About Easterly Asset Management
Easterly Asset Management (Easterly) is a multi-affiliate platform of high-performing boutique investment managers. Founded by industry veterans, Easterly is committed to bringing investors innovative investment strategies. We partner with quality managers who possess deep domain expertise and are craftsman in their respective asset classes and investment processes. We support our partners by delivering best-in-class solutions in marketing, sales, technology, operations, human resources, and finance to scale their businesses. We also offer affiliates, through our platform partnerships, the opportunity to access our retail & institutional distribution services. With our 19 investment professionals across our seven affiliates, we offer a range of products including separate accounts, SMAs, 40 Act Funds, CITs and private placements. As September 30, 2021, Easterly had $4.6 billion in assets under management. For more information, please visit Easterly at https://easterlyam.com/.
About WOMAR
WOMAR is an experienced tanker pool operator with industry scale to operate the acquired vessels. WOMAR is one of the largest independent pool operators in the chemical tanker space. It has five offices globally: Singapore; Rotterdam, Netherlands; Mumbai, India; Houston, Texas; and Stamford, Connecticut. WOMAR’s senior management has been with the company for over a decade and has deep industry experience. WOMAR deploys tonnage worldwide and leverages the synergies of global trade by being local in major areas of significance. For more information, please visit us at https://www.womarpools.com.
Media Contact: Loretta Healy, The Hubbell Group
Office: 781-210-5014, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
aspenONE® V12.2 includes new models to help customers identify how to reduce emissions, capture carbon and enable recycling efficiencies across their entire value chain
BEDFORD, Mass.--(BUSINESS WIRE)--Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in asset optimization software, today announced the availability of the newest aspenONE® V12 software release. The release, V12.2, gives companies new sustainability models and product capabilities that accelerate digitalization efforts in support of their sustainability initiatives.
The aspenONE® V12 solutions now include more than 50 models, including many that provide insight into where operational efficiencies can be improved upon in support of Scope 1 and 2 CO2 emission reduction targets. Using these models, customers can identify how to reduce emissions across the entire value chain; reduce usage of energy, water and feedstocks; transition to new energy sources like biofuels and hydrogen; and enable the circular economy through processes such as plastics recycling and waste-to-chemicals.
“Meeting CO2 emission reduction milestones in the quest to become carbon neutral requires companies to capture operational efficiencies by leveraging and deploying digital capabilities that deliver the insights needed to quickly and easily make adjustments to stay on track,” said David Arbeitel, Senior Vice President of Product Management at AspenTech. “The new release also provides a wide range of usability enhancements across our product portfolio to deliver faster time-to-value and drive high value business outcomes.”
According to Peter Reynolds, Principal Analyst, ARC Advisory Group, “AspenTech’s new release shows a commitment to innovation with new software to jumpstart customers’ sustainability programs. By building sustainability into existing software and adding a multitude of new sample models, AspenTech is demonstrating industry leadership in helping customers address material recycling, emissions reduction, hydrogen, carbon capture, and bio-based feedstocks.”
In addition to sustainability models, the new release includes a range of product enhancements and capabilities designed to provide intuitive usability, faster time-to-value and collaboration across the value chain. These include:
The newest release of aspenONE® V12 software is currently available. To learn more, visit our release page.
About Aspen Technology
Aspen Technology (AspenTech) is a global leader in asset optimization software. Its solutions address complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with artificial intelligence. Its purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets safer, greener, longer and faster. Visit AspenTech.com to find out more.
© 2021 Aspen Technology, Inc. AspenTech, aspenONE®, the Aspen leaf logo, Aspen GDOT™, and Aspen Unscrambler™ are trademarks of Aspen Technology, Inc. All rights reserved.
Len Dieterle
Aspen Technology
+1 781-221-4291
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HOUSTON--(BUSINESS WIRE)--Houston-based technology company Datagration announces their achievement as a finalist for the prestigious Digital Transformation Project of The Year Award at ADIPEC, the world’s largest oil and gas show. The recognition underscores Datagration’s relentless focus on preparing an industry rooted in tradition into one that’s positioned for digital transformation.
Datagration’s submission, entitled “Artificial Intelligence Assisted Well Portfolio Optimization: An Automated Reservoir Management Advisory System to Maximize The Asset Value” highlighted a case study from ADNOC Onshore. It demonstrates how automation, machine learning, and artificial intelligence intersect to provide greater timeliness and accuracy with well interventions to maximize sustainable oil rates and profitability. The project is expected to yield up to $30 million of value over the next 5 years for the asset, and $100 MM USD of value over the next 10 years, if scaled up to all assets.
In its 11th year, ADIPEC exists to honor innovators and ideas that are transforming the oil and gas industry for the future, particularly as knowledge and skills of traditional processes leave the industry and the demand for sustainable energy solutions accelerates.
This year, ADIPEC received more than 700 entries from companies in over 50 countries. Projects encompass a variety of specialties, including digitalization, sustainability, innovation, partnerships, young talent, research projects, and more. A jury of global energy leaders and experts handpick the finalists for closer evaluation and selections for each category are based on creativity, practicality, and forward-thinking.
“We’re honored and privileged to be able to share the global stage with other esteemed innovators,” shares Michael Stundner, EVP of Technology, “Being a finalist for the Digital Transformation Project of The Year Award supports the value we bring to our clients in the oil and gas industry and presents a clear path to what all O&G operators can expect in the future.”
Digital transformation is defined by ADIPEC as “the application of new technologies that radically changes processes, customer experience and value.” Entry criteria for the award category specifies that organizations must recognize the importance of digitalization within the oil and gas industry AND must have successfully digitized one or more areas of their business by applying disruptive technologies. Projects must also have “successfully implemented digitalization that is...value-enhancing and has a noteworthy return on investment.” Business transformation, innovation, and the application of technology all factor into the criteria.
Datagration joins an elite group of finalists from around the world that are all committed to driving the industry forward. “We remain focused on creating standards of excellence when it comes to digital transformation in our industry,” says Peter Bernard, Chairman & CEO. “We’re excited to use this formal recognition to show other operators in the field the value and competitive advantages that digital technology is creating.”
ABOUT DATAGRATION
Datagration provides the world’s most successful organizations with the tools they need to integrate and model data into meaningful insights. Our team of data scientists, engineers, and technologists work hand in hand with our customers to build a single source of truth used across the organization for data analysis, benchmarking, internal collaboration, and more. To learn more about Datagration and the PetroVisor platform go to www.datagration.com.
Braxton Huggins
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Annual Study Shows Strong and Growing Support for Nuclear Over Four Consecutive Years
WASHINGTON--(BUSINESS WIRE)--As the climate crisis intensifies, the race to adopt clean, sustainable sources of energy is on. But how have American attitudes to nuclear power changed? Would Americans be enthusiastic about updating nuclear power? To answer these questions, ecoAmerica conducted its fourth consecutive American Climate Perspectives Survey to study awareness and attitudes about utility energy choices and their impact on health and climate. The full report can be found here.
The survey shows that 59 percent of Americans “totally support” existing nuclear energy and recognize that it produces around 20 percent of our electricity. Fifty-seven percent of Americans say the U.S. should be spending “more” or “a lot more” to develop next-generation nuclear energy. Support is high regardless of political affiliation, with 64 percent of Republicans and 60 percent of Democrats supporting nuclear power. This support has grown, driven by a notable rise in Democratic support (up from 56 percent in 2020 and 37 percent in 2018).
Seventy-one percent of people in the U.S. credit nuclear power plants with generating a lot of electricity, reliably, and 65 percent say that nuclear power plants keep America competitive and energy independent. Most Americans (67 percent) want to keep nuclear power plants running as long as they are cost effective, up from 62 percent in 2020.
The most important reason for supporting nuclear energy? According to 69 percent of Americans, it helps us grow the economy while reducing pollution to our climate and health. Americans (67 percent) also support nuclear energy because nuclear power plants do not emit pollutants that harm our health or our climate compared to alternatives.
When defined as a new technology that is inexpensive, produces little waste, and is fail-safe so human errors can’t cause widespread damage, 74 percent of Americans indicated they would support “new” nuclear power such as molten salt fueled reactors. Among those who do not support nuclear power, 18 percent indicated they would shift their opinion to support it after learning that we can clean up unhealthy pollution and make the climate stable by modernizing nuclear power.
“Nuclear energy is absolutely critical to keeping energy reliable while affordably reducing emissions,” said Eric Meyer, founder and executive director of Generation Atomic, an advocacy group. “A growing majority of Americans are realizing this, and politicians on both the federal and state levels are taking notice. We saw it earlier this year in Illinois, where a coalition of organized labor and nuclear advocates persuaded a Democratically held legislature to save two save two nuclear power plants from early shutdown due to market failures. At the federal level, both existing and next generation nuclear plants are included in major infrastructure and climate packages. These are just a few examples of us getting on the right path to a cleaner, more sustainable future.”
About Generation Atomic
Generation Atomic is a 501(c)3 non-profit organization that is growing a movement to fight for the atomic energy of today and tomorrow. Since 2017 they’ve reached millions of people over social media and empowered thousands to contact their elected officials in support of protecting today’s reactors from early shutdown and laying the groundwork for the next generation of low carbon, environmentally friendly energy. Learn more and take action at GenerationAtomic.Org.
Marie Domingo
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(650) 888-5642
DUBLIN--(BUSINESS WIRE)--The "Australian Solar Water Pumping System Market (2021-2027): Market Forecast By Power Rating, By Design Type, By Drive Type, By Application, By Regions and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Australian Solar Water Pumping System Market size is projected to grow at a CAGR of 11.0% during the forecast period 2021-2027
The growth can be attributed to the Australian government and the state government's initiatives of providing rebates and incentives to support the farmers and the small producers under schemes like Renewable Energy Certificates, which includes Small-scale Technology Certificates (STCs) and Large-scale Generation Certificates (LGCs), water emergency infrastructure rebate, drought assistance programs, etc.
Schemes like National Water Emergency Infrastructure Rebate Scheme and Drought Assistance Loans provide incentives and rebates to help the primary producers set a water infrastructure and offer subsidized loans to ensure the sustainable future of the small producers, respectively, which would drive the solar water pump market size in Australia further.
Australian Solar Water Pumping System Market Synopsis
Australia's solar water pumping system market growth has been significantly owned to the supportive measures taken by Australia's federal government over the past few years. Further, the Clean Energy Council have deployed eco-friendly infrastructure, achieved renewable targets, and built strong ties with foreign nations such as China-Australia free trade agreement.
However, the outbreak of the COVID-19 left a slight negative impact on the solar pump market due to the supply chain disruptions, stricter inspections and export protocols, nationwide lockdowns. Moreover, with the rising electricity cost, increasing awareness amongst the small producers and farmers about the low operational cost of the solar pumps and the adverse climatic conditions which create water supply shortages.
The global pandemic obstructed the innovations and equipment's on the farms. Since the solar water pumping system involves a relatively higher upfront cost, farmers feel reluctant in installing the pumping systems in times of crisis. The constant support by the government would reduce the prices of the overall solar pumping system, which would further augment the demand in the forecast period.
Market by Power Rating Analysis
In terms of Power Ratings, the segments Upto 3 Hp and 3.1 to 10 Hp cumulatively have captured 70% of the market revenues in 2020, with 3.1 to 10Hp leading the market. 3.1 to 10 HP and below power rated solar water pumping systems in Australia would dominate in the coming years on account of increasing affordability and rising preferences towards multi-stage suction motors.
Market by Application Analysis
In Australia's Solar-Off Grid Water Pumping System Market, lift irrigation has led the overall market revenues accounting for more than 65% of the market revenues in 2020. With the supportive government initiatives towards harnessing renewable energy across all the economic activities and the rising exports, the segment would continue to rise in the coming years.
Key Attractiveness of the Report
Key Highlights of the Report
Companies Mentioned
The report provides a detailed analysis of the following market segments:
By Power Rating
On-Grid solar Water Pumping System
Off-Grid solar Water Pumping System
By Design Type
By Application
By Regions
For more information about this report visit https://www.researchandmarkets.com/r/pnpw7x
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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System targets the new methane emissions rules that include leak detection requirements to reduce global warming from methane emissions
RENO, Nev.--(BUSINESS WIRE)--#NarenPrasad--NevadaNano, the world’s leading innovator in gas detection sensor technology, announced that Naren Prasad joined the company to guide the Hardware enabled SaaS products to reduce methane emissions. Naren will serve as Chief Product Architect and Delivery Officer.
“As one of the original developers and innovators of the Advanced Metering Infrastructure industry, Naren has a long history of enabling disruptive transformation in the IoT world,” said Ralph Whitten, CEO of NevadaNano. “He will be a tremendous asset to NevadaNano as we continue to drive innovation in the gas sensing industry, by providing products to reduce methane and refrigerant emissions worldwide.”
Naren brings nearly 30 years of experience to NevadaNano during which he worked in software development for both new and established companies. Throughout his career he has led product development teams to define new business strategies and initiatives and deliver world leading products. He has held leadership roles for market leaders including Landis+Gyr, eMeter Corporation (now part of Siemens), and CellNet Data Systems (acquired by Schlumberger). He holds a patent for Message-Bus-Based Advanced Meter Information System with Applications for Cleaning, Estimating and Validating Meter Data.
Naren earned his B. Tech CSE from the National Institute of Technology Tiruchirappalli, India.
About NevadaNano
NevadaNano provides ESG solutions for some of the world's largest corporations, through Hardware Enabled SaaS solutions and advanced sensor technologies that detect methane and refrigerant leaks that are a major cause of global warming. For information, visit NevadaNano.com or connect on LinkedIn.
Phyllis Grabot, 805.341.7269, This email address is being protected from spambots. You need JavaScript enabled to view it.
Bonnie Quintanilla, 818.681.5777, This email address is being protected from spambots. You need JavaScript enabled to view it.
WASHINGTON--(BUSINESS WIRE)--US-Qatar Business Council (USQBC) has announced the launch of the USQBC Business Portal during the 4th Annual US-Qatar Strategic Dialogue. The Portal will transform the US-Qatar business experience and enhance investment & trade between the two countries. The digital platform offers unparalleled access to investment & trade-related information, USQBC services, proprietary and collated data, as well as providing an interactive and curated experience of the US-Qatar business relationship.
The USQBC Business Portal features a unique business engine that yields curated information to help facilitate partnerships, engagements, and matchmaking between Qatari and US businesses. Through providing information regarding trade & investment, descriptions of key businesses, and resources on how to set up a business in the US and Qatar, the USQBC Business Portal provides seamless integration with key initiatives of Qatari and US investment agencies and government programs.
“The launch of the USQBC Business Portal will make doing business between the US and Qatar even easier,” Mohammed Barakat, Managing Director of USQBC, said upon the Portal’s launch. “It will capitalize on the already flourishing trade relationship between the two countries, and will benefit their governments & agencies, large corporations, and SMEs alike.”
US investment in Qatar continues to increase year on year due to Qatar’s ambitious pro-business reforms and infrastructure investment. The US is Qatar’s largest foreign direct investor with a total of $110.6 billion in FDI and is the largest single source of exports to Qatar at $6.5 billion in goods in 2019. In the past five years, Qatar has imported over $23 billion from the US, and over 850+ US companies now operate in Qatar. Qatar is also an increasingly large investor in the United States having pledged $45 billion in investment over the coming years.
“In addition to the Qatar and US markets, the USQBC Business Portal will benefit the global business community,” said Mayes bint Hamad Al-Thani, Managing Director of USQBC Doha Office. “We expect high volumes of users from leading international academic institutions and think tanks, as well as international investors looking to gain a foothold in both countries.”
The USQBC Business Portal will cater to the entirety of the US and Qatari business community from both the public and private sectors, especially those looking to expand their international footprint. In fact, over 6,000 projected Qatari SMEs have a defined strategy of international expansion or export development and 4.5 Million American companies agree that international expansion in emerging markets is needed for long-term growth.
The Portal will constantly be updated with the newest and most up-to-date trade & investment-related information based upon both collated and proprietary USQBC data.
Visit the Portal: portal.usqbc.org
Media Contact:
Aaron Teitelbaum
US-Qatar Business Council
+1 202-677-2670
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The competitively-priced fund invests in the top 500 US companies minus ~40 fossil fuel companies, with its index historically outperforming the SPDR S&P 500 ETF
WALNUT, Calif.--(BUSINESS WIRE)--California-based startup Sphere announced today that it has partnered with SEC-registered investment advisory firm Reflection Asset Management (RAM) to launch the Sphere 500 Fossil-Free Index Fund (SPFFX), a mutual fund designed to remove the barriers that have kept fossil-free options out of 401(k) retirement plans until now.
The fund is the first U.S.-based option of its kind and launches as over 80 percent of Americans report seeing climate change as a threat, according to Pew Research, and yet 99 percent of Americans with 401(k) retirement savings are not invested in climate funds, or funds that avoid owning fossil fuel companies. While climate change is a topic that individuals often feel helpless to solve, SPFFX offers a concrete way for investors to make an impact, without giving up quality of life or expected returns on retirement savings.
The fund is available on brokerage platforms, including Interactive Brokers, with Vanguard and Vestwell in the process of onboarding, and on 401(k) platforms such as Matrix and Mid Atlantic Capital Group. Additional platforms are being added. Financial firms Green Retirement and Carbon Collective plan to offer the fund to 401(k) clients.
SPFFX has already found traction beyond its target market of 401(k)s, with launching investments from Eliot Horowitz, co-founder of tech unicorn MongoDB, and Clay Rockefeller, great-great-grandson of John D. Rockefeller, the first US billionaire oil baron, whose descendants, through the Rockefeller Foundation, have committed to divest its $5 Bn endowment from fossil fuel interests, a major bellwether for the fossil fuel divestment movement.
“We could not be more thrilled to be partnering with the team at RAM to launch this fund,” said Sphere founder and CEO Alex Wright-Gladstein. “By offering this product, RAM is demonstrating their commitment to making a difference on climate change by making a values-aligned investment product available not only to wealthy investors, but also to everyday people in their retirement plans.”
The Sphere 500 Fossil-Free Index Fund (SPFFX) tracks the Sphere 500 Fossil-Free Index (SPFFXI), which is comprised of the largest 500 US companies by market capitalization, minus approximately forty companies whose primary lines of business are in the fossil fuel industry, as defined by the non-profit As You Sow on their website fossilfreefunds.org.
The SPFFXI index was calculated by independent third-party index calculation agent BITA. The 40 or so companies that are excluded make up about five percent of the total market capitalization of the top 500 group.
About Sphere
Sphere is a registered public benefit corporation that is amplifying a social movement to get 401(k) money out of fossil fuel companies. The company helps employees, employers, and investors take a stand on climate change by providing financial products that are designed for 401(k) plans, and allows HR managers and their advisors to maintain their commitment to fiduciary duty without having to compromise on climate. Learn more at www.oursphere.org. For more information reach out to This email address is being protected from spambots. You need JavaScript enabled to view it..
About Reflection Asset Management
Reflection Asset Management is an SEC registered investment advisor specializing in creating ESG strategies and Registered Funds that allow asset owners to align their values with their portfolios. Learn more at www.reflectionam.com. For more information reach out to This email address is being protected from spambots. You need JavaScript enabled to view it..
Learn more: https://www.reflectionam.com/sphere
Before investing in the Sphere 500 Fossil-Free Index Fund (“SPFFX”), consider the index’s investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, please visit https://www.reflectionam.com/sphere, call 844-2-SPHERE, or talk to your financial advisor. Read the prospectus carefully before investing. The Sphere 500 Fossil Free Index tracks the S&P 500 and excludes the ~40 fossil fuel companies that are in the top 500 list. The Sphere 500 Fossil Free Index will not invest in companies whose main lines of business include producing, distributing, or refining fossil fuels, holding reserves of fossil fuels, utilities that are primarily fossil fuel-powered, and producers of equipment for any of the above. However, the fund may invest in companies that use fossil fuel as a part of their business or have used fossil fuels in the past. The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Index returns do not reflect the effects of fees or expenses. It is not possible to invest directly in an index. Current performance may be lower or higher than the performance data quoted. For the most recent month-end performance, please call 844-2-SPHERE or visit the Fund’s website at https://www.reflectionam.com/sphere. Index performance is discussed for illustrative purposes only as a benchmark for each strategy’s performance and does not predict or depict performance of that strategy. While index comparisons may be useful to provide a benchmark for a strategy’s performance, it must be noted that investments are not limited to the investments comprising the indices. Each of the strategy benchmark indices are unmanaged and cannot be purchased directly by investors. Past performance does not guarantee future results. No portion of the content should be considered a solicitation to buy or an offer to sell shares of the fund in any jurisdiction where the solicitation or offer would be deemed unlawful under the securities laws of such jurisdiction. The Sphere 500 Fossil-Free Index Fund is distributed by Vigilant Distributors, LLC, member of FINRA and SIPC. NOT FDIC INSURED NOT BANK GUARANTEED MAY LOSE VALUE
Andrew Cook
614-330-5898
KANSAS CITY, Mo.--(BUSINESS WIRE)--On Monday Nov. 8, Paragould, Ark., Light Water & Cable, the city’s Economic Development Corporation, and the Chamber of Commerce officials were joined in Paragould by representatives of Evergy for a ribbon-cutting ceremony for the city’s solar array.
The 1.92 megawatt (MW) system began commercial operation in November 2021. The array was constructed by using bifacial solar panels in combination with Schletter single axis trackers – the first Schletter trackers to be installed in the United States. Installing bifacial panels with single-axis trackers will optimize the efficiency of the solar array over its lifetime. The 4,692 panel array will generate about 3.4 million kWh annually, which is equivalent to providing over 200 homes with energy for one year.
Evergy has provided energy management services to Paragould Light Water & Cable (PLWC) for more than a decade and won a competitive bid to build the solar array for PLWC and to bring clean energy to the customers of Paragould.
“At Evergy, our goal was to ensure that the energy generated from the new solar array was the lowest cost peak power resource in PLWC’s energy portfolio. We are excited to be partnering with PLWC in bringing clean energy solutions to the customers of Paragould,” said Lloyd Jackson Managing Director, Evergy Energy Partners.
With more than 26,000 residents, the city of Paragould is committed to offering clean, affordable energy solutions to serve the needs of its residents and encourage industry in the area. In 2020, Paragould embarked on their mission of becoming a more sustainable city by adding a renewable source to their energy portfolio. Evergy was selected through a request for proposal (RFP) to offer innovative, solar energy solutions to the Paragould community.
“We are proud to bring solar-generated power to the citizens of Paragould, and to do so with Evergy, a trusted partner for 18 years,” said Darrell Phillips, CEO of Paragould Light Water & Cable. “PLWC continues on a progressive track with our recent 1-GIG internet launch, and now we’re generating solar energy in an exciting new way. We’re building superior infrastructure in our city and providing reliable products for our friends and neighbors.”
Because cost savings is a crucial goal for PLWC, Evergy was able to offer a product that will help offset Paragould’s energy costs by providing affordable power to add to PLWC’s overall energy portfolio. Evergy has structured the agreement as a Build/Transfer Agreement for Paragould’s municipal power company, and the city of Paragould will offset their energy costs with clean and affordable energy, a win-win for all parties involved.
About Evergy, Inc.
Kansas City, Mo.-based Evergy, Inc. (NYSE: EVRG) serves approximately 1.6 million customers in Kansas and Missouri. We generate nearly half the power we provide to homes and businesses with emission-free sources. We support our local communities where we live and work and strive to meet the needs of customers through energy savings and innovative solutions.
Gina Penzig
Manager, External Communications
Phone: 785.508.2410
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Media line: 888-613-0003
MALVERN, Pa.--(BUSINESS WIRE)--Saint-Gobain, and its building products subsidiary CertainTeed, today announced the company has finalized a lease agreement for the installation of solar projects at two of its manufacturing sites in Berlin and Wayne, New Jersey, supporting the sustainability efforts of the state’s electrical grid.
The projects come only weeks after the company announced its new global Grow and Impact strategy, which includes advancing environmental sustainability efforts in the communities where the company does business.
In Berlin, a 312 kilowatt direct current (kWDC) solar project will be installed on the grounds of CertainTeed’s Insulation distribution center. In Wayne, a 614 kWDC solar project will be installed on the roofs of the company’s buildings, where Saint-Gobain High Performance Solutions manufactures plastic products.
“The new solar projects at our sites in Berlin and Wayne will reduce our company’s energy costs at these locations, help the State of New Jersey strive towards its ambitious clean energy goals, and support the broader transition to renewable, zero-carbon sources of power,” said Mark Rayfield, CEO of Saint-Gobain North America and CertainTeed. “We’re proud to do our part to support the New Jersey electricity grid’s transition towards a more sustainable future.”
Construction on both solar projects is expected to begin by the summer of next year and be complete by the end of 2022. The systems will be owned and operated by DSD Solar Energy.
The new solar projects in Berlin and Wayne follow several major investments in environmental sustainability made this year by CertainTeed:
For more details on Saint-Gobain, visit www.saint-gobain.com and follow us on Twitter @saintgobain.
About CertainTeed
Through the responsible development of innovative and sustainable building products, CertainTeed, headquartered in Malvern, Pennsylvania, has helped shape the building products industry for more than 115 years. Founded in 1904 as General Roofing Manufacturing Company, the firm’s slogan “Quality Made Certain, Satisfaction Guaranteed,” inspired the name CertainTeed. Today, CertainTeed is a leading North American brand of exterior and interior building products, including roofing, siding, solar, fence, railing, trim, insulation, drywall and ceilings. www.certainteed.com.
About Saint-Gobain
Saint-Gobain designs, manufactures and distributes materials and solutions for the construction, mobility, healthcare and other industrial application markets. Developed through a continuous innovation process, they can be found everywhere in our living places and daily life, providing wellbeing, performance and safety, while addressing the challenges of sustainable construction, resource efficiency and the fight against climate change.
This strategy of responsible growth is guided by the Saint-Gobain purpose, “MAKING THE WORLD A BETTER HOME,” which responds to the shared ambition of all the women and men in the Group to act every day to make the world a more beautiful and sustainable place to live in.
€38.1 billion in sales in 2020
More than 167,000 employees, located in 70 countries
Committed to achieving Carbon Neutrality by 2050
David Rosen
Saint-Gobain Corporate Communications
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DCVC and Breakthrough Energy Ventures co-lead Brimstone’s $5.1 million Seed financing to support their vision to eliminate the 8% of global CO2 emissions produced in cement manufacturing.
OAKLAND, Calif.--(BUSINESS WIRE)--#decarbonize--Brimstone Energy has secured financing co-led by DCVC and Breakthrough Energy Ventures (BEV) to develop zero-carbon Portland cement. In addition to the $5.1 million financing, the company has also received $2 million in grants from ARPA-E, the National Science Foundation, and others.
Cement is used all over the world as the basic ingredient in concrete, mortar, and other building materials, and has two key components, Portland cement and supplementary cementitious material (SCM). Today, Portland cement is made by heating limestone and clay or other materials in kilns, a process responsible for about 8% of global CO2 emissions (5.5% of global greenhouse gas emissions)—about the same as cars. SCM is produced as a byproduct of burning coal in powerplants and steel mills, and is becoming more expensive as global energy production relies less on coal.
Cody Finke, co-founder & CEO of Brimstone, commented, "The cement industry is currently reliant on coal-fired power plants and blast-furnaces. This dependency worked in the coal-dominated past, but the world is rapidly transitioning away from coal. In our modern energy system, the process that Brimstone is developing is more economically appropriate and sustainable.”
For the world to reach net-zero CO2 emissions, and also meet the building demands of the future, cement production must be decarbonized. Brimstone’s technology produces ordinary Portland cement, identical in every way to conventionally manufactured cement, but without releasing CO2. Brimstone’s new process also produces SCM, identical in every way to conventional SCM, without burning coal. At scale, Brimstone’s breakthrough will make cement at or below market prices, solving both the problems of emissions and scarcity of raw materials, without increasing cost or risk for customers.
Kelly Chen, Partner at DCVC, added, “This isn’t carbon capture, or a cement alternative. Brimstone’s technology doesn’t change the chemistry of Portland cement. It’s a clean process with no CO2 byproduct that also produces SCM without burning coal. Our investment in Brimstone exemplifies DCVC’s work of over a decade backing brilliant entrepreneurs solving trillion-dollar problems at the forefront of climate resiliency.”
“Cement production is a major contributor to global carbon emissions, and we are focused on fixing that by investing in innovative companies like Brimstone,” said Carmichael Roberts of Breakthrough Energy Ventures. “Brimstone has the vision to reduce the cost, complexity, and emissions associated with this critical material.”
The new funding will support product development and hiring. Brimstone’s products will solve two key problems for cement producers:
Hugo Leandri, co-founder and CTO of Brimstone, remarked, “Major industrial processes only change every hundred years or so, and they always change towards market simplification. With over a century since a major innovation in cement, it’s time for a change.”
Brimstone is engaging with cement companies, architects, structural engineering firms, and concrete companies through their First Builders initiative, which is seeking to build a coalition of industry players and early adopters, who will get early access as Brimstone begins to scale. If you are an interested company or firm, email This email address is being protected from spambots. You need JavaScript enabled to view it. to participate.
About Brimstone Energy
Brimstone Energy uses proprietary technology to produce carbon-neutral Portland cement and supplementary cementitious materials. While at Caltech, Co-founders Cody Finke and Hugo Leandri conceived of the vision to decarbonize cement production by inventing better technology to work within the existing cement industry. Brimstone is backed by top investors—including DCVC, Breakthrough Energy Ventures, and the Collaborative Fund. To learn more, follow Brimstone on Twitter and LinkedIn at @BrimstoneEnergy, visit the website: www.brimstone.energy, or reach out directly: This email address is being protected from spambots. You need JavaScript enabled to view it..
About DCVC
DCVC backs entrepreneurs solving trillion-dollar problems to multiply the benefits of capitalism for everyone while reducing its costs. For over twenty years, DCVC and its principals have backed brilliant entrepreneurs applying Deep Tech, from the earliest stage and beyond, to pragmatically and cost-effectively tackle previously unsolvable problems in nearly every industry, especially those that haven’t seen material technological progress in decades. Together, we have created tens of billions of dollars of value while also making the world a markedly better place. Visit dcvc.com to learn more.
About Breakthrough Energy Ventures
Backed by many of the world’s top business leaders, Breakthrough Energy Ventures (BEV) invests in cutting-edge companies that will lead the world to net-zero emissions. BEV has more than $2 billion in committed capital to support bold entrepreneurs building companies that can significantly reduce emissions from agriculture, buildings, electricity, manufacturing, and transportation. BEV’s strategy links government-funded research and patient, risk-tolerant capital to bring transformative clean energy innovations to market as quickly as possible.
The first fund was created in 2016 as part of the Breakthrough Energy network of initiatives and entities, which include investment funds, non-profit and philanthropic programs, and policy efforts linked by a shared commitment to scale the technologies needed to address climate change and achieve a path to net zero emissions by 2050. Visit www.breakthroughenergy.org to learn more.
Cody Finke
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HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) announced today it has been recognized as one of the Top Workplaces of 2021 by the Houston Chronicle. The list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage. The anonymous survey uniquely measures 15 drivers of engaged cultures that are critical to the success of any organization, including alignment, execution, and connection, amongst others.
Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “We are thrilled to be named a Top Workplace for the second year in a row. I am extremely proud of our employees’ resilience, willingness to work through change, can-do attitudes and continuous personal and professional development. SilverBow has established a culture centered around ‘the SBOWay’ which has helped redefine how we support the growth of our employees both in and out of the office. This award highlights the progress we have made, the buy-in from our employees and what it means to be a part of the SilverBow family.”
ABOUT SILVERBOW RESOURCES, INC.
SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the Eagle Ford Shale and Austin Chalk in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested. For more information, please visit www.sbow.com. Information on the Company’s website is not part of this release.
Jeff Magids
Director of Finance & Investor Relations
(281) 874-2700, (888) 991-SBOW
Partnership enables Boatzon customers to finance boats up to $10 million
HALLANDALE BEACH, Fla.--(BUSINESS WIRE)--#boating--Boatzon, the first 100 percent online boat and marine retailer, today announces a partnership with Trident Funding, one of the largest originators of boat, RV and aircraft loans. Through this partnership and technology integration, Boatzon customers have access to industry-leading financing options and the most competitive rates for boats up to $10 million.
“Our goal is to provide boat buyers the best financial offers, the lowest rates, and an easy shopping experience. Our partnership with Trident Funding strengthens our customer offerings and increases our lending opportunities for new and used boat sales,” shares Bryan Lenett, CEO of Boatzon.
By using Boatzon for their next boating purchase, consumers can browse, finance, insure, and arrange delivery of a boat and marine products entirely online. The first of its kind in the boating industry, the platform offers buyers a new and innovative purchasing channel that caters to seasoned professional boaters and beginners alike. In partnership with Trident Funding, the platform allows buyers to choose from multiple finance offers from specialized marine banks and receive funding. Boatzon’s proprietary pre-qualification solution is the first in the marine industry to pre-approve a buyer and display lender offerings without impacting a consumer’s credit score The partnership showcases finance offers co-branded as “Boatzon Finance – Powered by Trident Funding.”
“This partnership enables us to be the first online retailer to integrate with Trident Funding, furthermore this partnership allows us to increase our intake of boat dealers that specialize in high price boats and yachts. We are excited to further work with Trident Funding on new offerings and solutions for our boating community,” adds Michael Muchnick, COO and co-founder of Boatzon.
Since its inception, Trident has worked with more than 50 banks and financial institutions. The company’s long list of lending sources ensures that consumers get access to the best rates and terms available for their next purchase. When Boatzon customers work with Trident to obtain a loan, their requests will be handled by a team of professionals in one of the company’s local offices with a concierge-like experience. Each Boatzon customer is treated as a personal acquaintance, and a true member of our growing marine community.
Mark Breeden, President of Trident Funding stated, “Trident Funding is proud to be a part of this exciting partnership with Boatzon. Having recently celebrated our 25th year anniversary, we’ll be able to leverage our deep experience in the marine lending markets to provide buyers with the most efficient and diverse direct loan options available. In this competitive lending environment, we look forward to getting customers out on the water quickly and with the most favorable loan terms possible.”
About Boatzon
Boatzon is the first 100 percent online boat and marine retailer utilizing FinTech and InsurTech solutions. The company’s digital marketplace gives boat and marine enthusiasts easy and direct access to vessels, engines, trailers, marine products and more. Boatzon allows for consumers to browse, finance, insure and purchase a boat or marine products entirely online in minutes.
Haley Meyer
Trevelino/Keller
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(404) 214-0722 Ext. 129
Emerson’s innovative food waste recycling system reaches significant milestone as it tackles the growing global food waste challenge
ST. LOUIS--(BUSINESS WIRE)--Every year, 18.5 million tons of food scraps from grocery stores, food service facilities and other institutions end up in landfills. Emerson’s (NYSE: EMR) InSinkErator™ business helps colleges and universities, high-capacity stadiums and commercial facilities in a multitude of sizes keep food waste out of landfills through Grind2Energy™, its large-scale food waste recycling system. InSinkErator has reached a significant milestone in its ongoing mission to stop food waste from ending up in landfills. Recently, InSinkErator celebrated diverting 100 million pounds of food waste from landfills through Grind2Energy.
“Food waste is a significant issue in both residential and commercial kitchens,” said Joe Dillon, president of Emerson’s InSinkErator business. “Our Grind2Energy technology provides an innovative, more sustainable solution for commercial facilities everywhere and has the potential to make a global impact. We couldn’t be more excited to mark this anniversary, and look forward to the next 100 million pounds diverted as we do our part to address the growing food waste problem.”
Using powerful grinding technology from InSinkErator, the world’s largest manufacturer of residential garbage disposers, the Grind2Energy recycling system captures and processes food waste into energy-rich slurry, which is held safely in sealed tanks before it can be transported to nearby anaerobic digestors located at farms or at wastewater treatment facilities. Anaerobic digesters extract methane gas and convert energy rich slurries into renewable energy, and the remaining materials can be used to make nutrient-rich fertilizer. To date, the renewable energy created from the Grind2Energy energy rich slurry is enough to power more than 10,000 homes for one month; the amount of CO2 reduction by diverting waste to landfills is the equivalent of 83 million fewer automobile miles driven; and the potential amount of nutrient-rich fertilizer created is 5.7 million pounds.
Whole Foods Market, a global brand known for sustainability and an early adopter of the Grind2Energy system, said it plans to expand its use of the system. To date, Whole Foods has been a significant contributor to this milestone by diverting over 25 million pounds of unavoidable food waste from landfills through Grind2Energy.
“Since adopting Grind2Energy in 2014, we’ve been able to further accelerate our commitment to minimizing food waste in our stores and promoting environmental stewardship across the life cycle of food,” said Caitlin Leibert, vice president of sustainability at Whole Foods Market. “Converting unavoidable food waste into a renewable energy source is another way we live out our mission of Nourishing People and the Planet.”
For more information about Grind2Energy, please visit Emerson.com/Grind2Energy or Emerson.com.
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.
For Emerson
Sarah Wheeler
Phone: 218-340-9040
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Leading energy efficiency and renewable energy solutions company honored as winner of People’s Choice Award for Project of the Year and included as a finalist in Woman of the Year and Company of the Year categories.
FRAMINGHAM, Mass. & WASHINGTON--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced that The Cleanie Awards® has named it the winner of the People’s Choice Award for the Project of the Year category and a finalist in the Woman of the Year and Company of the Year categories.
Determined by a public voting process, Ameresco’s solar installation project with Wells Fargo was named the People’s Choice Award winner for Project of the Year. Through this collaboration, Ameresco will implement nearly 100 solar photovoltaic (PV) arrays across seven states and support Wells Fargo in its long-term sustainability goal to develop net-new renewable energy sources in priority locations.
“We are thrilled to recognize Ameresco as the People’s Choice Award winner for the Project of the Year category at the 2021 The Cleanie Awards award ceremony,” says Randee Gilmore, Executive Director, The Cleanie Awards. “Ameresco is an established leader in the pursuit of a sustainable future, and we are proud to be able to honor their work and achievements across three categories this year.”
In addition to being recognized for its work with Wells Fargo, Ameresco was named a finalist in two Cleanie Award categories: Company of the Year and Woman of the Year on behalf of Executive Vice President and General Manager of Federal Solutions Nicole Bulgarino, who stands at the forefront of the company’s Federal division and cultivates innovation and passion within her team.
“We are tremendously honored to be named a winner and finalist across multiple award categories at The Cleanie Awards,” says George Sakellaris, President and CEO of Ameresco. “As a company, we challenge our team to integrate best-in-class advanced technology solutions to meet the needs of our customers. I am proud of the work we have accomplished, and I am eager to continue developing tailored, inventive strategies with the projects to come.”
The Cleanie Awards is the leading awards program celebrating people and brands driving the clean energy economy. The judged program recognizes leading brands and individuals who have made significant contributions to the industry with a range of categories spanning product and project innovation to lifetime achievement. Winners will be announced at the fourth annual award ceremony on November 16 at 1 p.m. EST. Register to attend the virtual ceremony at https://us06web.zoom.us/webinar/register/4616340463691/WN_hnfcutXDR3i0O0CPW753rQ.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
About The Cleanie Awards®
The Cleanie Awards is the only comprehensive clean energy industry awards program focused on honoring innovators and disruptors who are creating market-moving solutions. The program’s mission is to influence public opinion about technologies working toward a clean energy future. The team includes a highly prominent advisory board and judging panel of experienced business leaders, entrepreneurs, and communicators who are committed to advancing clean technology.
For more information, visit the website at www.thecleanieawards.com and follow The Cleanie Awards on Twitter or Facebook at @CleanieAwards and LinkedIn.
Media Contact:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
The Cleanie Awards®: Randee Gilmore, This email address is being protected from spambots. You need JavaScript enabled to view it.
NEWCASTLE, England & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI) will host its 2021 Analyst Day today, Tuesday, November 16, 2021, in Houston. The meeting will feature presentations from the Company’s leadership team discussing how TechnipFMC continues to drive change in the energy industry.
The general presentation session will be held from 8:30 a.m. to noon Houston time and will be available via a live webcast.
In conjunction with the general presentation session, the Company will provide the following highlights regarding its market and financial outlook.
Intermediate-term financial outlook 2021e to 2025e:
Capital structure and shareholder distributions:
New Energy Ventures:
The Company will also host afternoon sessions that highlight new technologies that improve project economics and reduce emissions, showcase Subsea 2.0™ expansion to all-electric and CO2 storage applications, and demonstrate integrated solutions for the development of novel energy resources. Participants will have the opportunity to interact with key business leaders from across the organization throughout the day.
The live webcast, along with the corresponding presentation slides, will be available through the Investor Relations link on TechnipFMC’s website at www.technipfmc.com. The archived replay of the webcast will be available on the website for 90 days.
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. In addition, our results may be impacted by the uncertainty of transition to new energy, including the type, development and demand for new energy sources; unpredictable trends in energy transition initiatives; geopolitical, legislative or regulatory initiatives and changes related to energy transition; and our ability to achieve the benefits of the energy transition related business strategies, initiatives, systems, collaborations and applications. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
__________________________________________
1 Our guidance measures adjusted EBITDA, adjusted EBITDA margin, free cash flow, free cash flow conversion are non-GAAP financial measures. We are unable to provide a reconciliation to comparable GAAP financial measures on a forward-looking basis without unreasonable effort because of the unpredictability of the individual components of the most directly comparable GAAP financial measure and the variability of items excluded from each such measure. Such information may have a significant, and potentially unpredictable, impact on our future financial results.
2 Cash flow from operating activities minus capital expenditure, divided by adjusted EBITDA
3 Short-term debt and current portion of long-term debt + long-term debt, less current portion
Investor relations
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
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James Davis
Senior Manager, Investor Relations
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Media relations
Nicola Cameron
Vice President, Corporate Communications
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Catie Tuley
Director, Public Relations
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DUBLIN--(BUSINESS WIRE)--The "Fuel Additives Market Research Report: By Type, Application, End Use - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
With almost 7 million people dying each year as a result of air pollution, according to the World Health Organization (WHO), emission standards for vehicles and non-road engines are being made stricter around the world. This will be a key propeller of the global fuel additives market revenue from $5,032.7 million in 2020 to $7,990.6 million by 2030, at a 4.9% CAGR between 2021 and 2030, According to the publisher.
This is because such products either improve the engine performance or modify the properties of the fuel itself to reduce the fuel consumption and greenhouse gas (GHG) emissions. In this regard, the emission standards of the U.S. Environmental Protection Agency, European Union (EU), and Indian government are aiding the fuel additives market growth by mandating the usage of cleaner fuels and more-efficient engines.
Key Findings of Global Fuel Additives Market Report
The fuel additives market was negatively affected by the COVID-19 pandemic as the production of such additives was suspended. Moreover, industrial operations were reduced, and people were not allowed to travel, unless for essential purposes, which brought down the consumption of fuel additives in vehicles. Further, the temporary closure of refineries and petrochemical factories led to the extremely low production of fuel additives.
In the coming years, the fastest fuel additives market growth in the type segment is likely to be seen in the deposit control category. Deposit-control additives are used in an array of sectors as they reduce and clean the deposits of sludge, varnish, and carbon from the engine, thereby increasing its life and improving its performance and fuel efficiency.
Throughout the decade, the end use segment of the fuel additives market will be dominated by the automotive category. Diesel is preferred for commercial vehicles as it offers more energy and is more energy efficient compared to gasoline. Further, with the increasing strictness of emission standards and surging gasoline prices, many people have started using diesel cars instead of those using petrol.
Asia-Pacific (APAC) has been the largest fuel additives market till now, and the situation is not predicted to change in the years to come. The region with the largest automobile fleet and, thus, the highest air pollution levels, in the world, APAC has a strong need to reduce its GHG emissions. Additionally, the burgeoning petrochemical production in China is leading to the easy and cost-effective access to fuel additives, thereby driving their consumption.
Market Dynamics
Trends
Drivers
Restraints
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/aumvux
ResearchAndMarkets.com
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SAN JOSE, Calif.--(BUSINESS WIRE)--QuantumScape Corporation (NYSE: QS) today released 10-layer battery cell testing data showing 800 cycles at better than one-hour charge rates at 25 °C, achieving the goal it had laid out for 2021. With this achievement, QuantumScape has now met all the milestones it laid out at the beginning of the year.
“We are delighted to share this data on 10-layer cell performance,” said Jagdeep Singh, co-founder and CEO of QuantumScape. “This demonstrates that we continue to successfully execute on the objectives we established to scale up our technology and manufacturing efforts. These are groundbreaking results, as we believe no other player has demonstrated equivalent performance with solid-state or lithium-metal battery technology.”
The results confirm that the company achieved the goal, which was to demonstrate a 10-layer cell capable of at least 800 cycles with energy retention greater than 80%; a 1C-1C charge and discharge rate; at 25°C, 3.4 atmospheres of pressure, and 100% depth of discharge.
The company now intends to focus on its goals for 2022 and 2023, including further increasing the quality, consistency and layer counts for the cells, delivering customer prototypes and continuing to build out its QS-0 pre-pilot production line.
About QuantumScape Corporation
QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. The company is on a mission to revolutionize energy storage to enable a sustainable future. For more information, please visit www.quantumscape.com.
Forward-Looking Statements
The information in this press release includes a “forward-looking statement” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, including, without limitation, regarding the development, timeline and performance of QuantumScape’s products and technology are forward-looking statements.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside QuantumScape’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to the following: (i) QuantumScape faces significant barriers in its attempts to scale and complete development of its solid-state battery cell and related manufacturing processes, and in achieving the quality, consistency and throughput required for commercial production and scale, (ii) QuantumScape may encounter substantial delays in the development, manufacture, regulatory approval, and launch of QuantumScape solid-state battery cells and building out of QS-0, which could prevent QuantumScape from commercializing products on a timely basis, if at all, and (iii) QuantumScape may be unable to adequately control the costs of manufacturing its solid-state separator and battery cells. QuantumScape cautions that the foregoing list of factors is not exclusive. Additional information about factors that could materially affect QuantumScape is set forth under the “Risk Factors” section in the QuantumScape’s Annual Report on Form 10-Q filed with the Securities and Exchange Commission on October 28, 2021, and available on the SEC’s website at www.sec.gov.
Except as otherwise required by applicable law, QuantumScape disclaims any duty to 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 of this press release. Should underlying assumptions prove incorrect, actual results and projections could different materially from those expressed in any forward-looking statements.
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LITTLE RIVER, S.C.--(BUSINESS WIRE)--#ecofriendly--PCT LTD (OTC Pink: PCTL). PCT Ltd. and Nano Gas™ Technologies are pleased to announce a joint patent-pending technology that has been designed to provide an eco-friendly solution for the oil and gas industry. Testing has been ongoing for many months using PCT Ltd.’s Catholyte only with excellent results reported by an international independent lab located in Houston, Texas. The water to oil ratio (WOR) started out as 99/1 before Catholyte was pumped into the wells. Testing was done using various parameters which increased the WOR to 60/40 on some of the wells. Nano Gas™ nanobubbles were added, and a 20% increase was seen at WOR 48/52. Ongoing testing continues, and PCTL/NANO GAS™ feels another 20% may be attainable.
PCTL/NANO GAS’™ new product line is called Nanolyte. The fluids come in two versions: Nano-Catholyte™ and Nano-Hydrolyte™.
Nano-Hydrolyte™, a biocide, and Nano-Catholyte™, a nanobubble infused alkaline oil, recover fluid with both surface chemistry and wedge effect mechanism for improved oil recover. Both are 100% eco-friendly, green solutions for the oil industry including EOR, fracturing and downhole bacteria control including H2S remediation.
Nano-Catholyte™ is a combination of Catholyte-free produced by PCTL which reduces the surface tension in the treatment fluid and interfacial tension with the oil within the formation. This coupled with the mechanical effects of the nanobubble (diffusion, wedge effect and fragmentation of oil to reduce viscosity) allowing for the release of oil in the formation as well as penetration throughout the micro sized natural fractures through the formation thus separating the oil from the water and allowing it to flow from the formation to the wellbore where it can be produced, processed and ultimately sold. Nano-Catholyte™ makes oil recovery more efficient and subsequently more profitable for operators with no toxic effects to the environment.
Another adaptation will be developing Nano-Hydrolyte™ which is a combination of Hydrolyte produced by PCTL, an eco-friendly hospital biocide that kills 99.999% of pathogens, and Nano Gas™ bubbles which penetrate the smallest fractions and permeability in the formation. Nano-Hydrolyte™ makes for a potent biocide for downhole bacteria control, H2S (sour wells) remediation and disinfection of hydraulic fracturing water facilities.
Maverick Energy Services in Oklahoma has used energy-intensive, steam-assisted gravity drainage (SAGD) to extract heavy oil from their wells in Grassy Creek, MO. Grassy Creek has eleven million barrels of oil in tertiary reserves. When oil prices went down, producing oil with steam was too expensive. Now, Maverick is beginning enhanced oil recovery (EOR) by using Nano-Catholyte™ at a fraction of the cost. Doug Humphreys said: “I’ve never seen oil cuts like this from the Grassy Creek oil field.” Doug also stated with Nano-Catholyte™ Maverick can attain a substantial savings per barrel of produced oil. Maverick is now expanding field testing to his light oil wells in Holdenville, OK and looks forward to adding Nano-Catholyte™ to their service offerings to clients.
SAGD is a popular enhanced oil recovery method in Canada and for all heavy oil. Canada has been struggling with more than one trillion liters of the toxic wastewater tailings ponds resulting from SAGD and other heavy oil recovery processes. Dr. David Holcomb of Pentagon Technical Services Inc., who holds six oil and gas patents and has led research and development efforts for several large oilfield service and chemical corporations, said: “Nano-Hydrolyte™ could change enhanced oil recovery around the world and eliminate toxic oil sands tailings. Because Nano-Hydrolyte™ is 100% eco-green downhole bacteria control, H2S remediation and toxic wastewater disinfection can be accomplished in an environmentally safe way.” Nano-Hydrolyte™ is 100% eco-green and is effective on several types of downhole corrosion causing bacteria mitigation such as sulfate reducing, which allows effective H2S remediation. As a result, toxic wastewater disinfection can be accomplished in an environmentally safe way.
PCTL and Nano Gas™ have partnered to provide a mobile process to enhance oil recovery through Maverick Energy Services to improve oil industry sustainability. Len Bland, CEO of Nano Gas™ Technologies, said: “We’re excited to partner with PCTL and Maverick Energy Services to provide the worldwide oil industry with environmentally effective Nano-Catholyte™ and Nano-Hydrolyte™.
Gary Grieco, President/CEO of PCTL, stated, “By incorporating Nano Gas technology, we found a process that greatly enhanced our already successful specialty product Catholyte. Once we received third-party verification of the unique properties of our fluids, we began field testing. The results have been so positive that we filed a patent-pending with the U.S. Patent Office.”
“We are about to embark upon final field tests,” continues Grieco, “which should be completed by the middle of December. Once completed, we will begin Beta testing with a number of oil production companies that have already expressed their desire to use the process on some of their production.”
For more information visit:
https://www.para-con.com/index.php @PCTL_
https://www.nanogastechnologies.com/ @NanoGasTech
https://www.okmaverick.com/home
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 (PCT Corp). The Company established entry into its target markets with commercially viable products in the United States and now continues to gain market share in the U.S. and U.K.
About Nano Gas Technologies:
Nano Gas Technologies, Inc. (Nano Gas™), a Deerfield, IL company, uses nature to improve the environment with tiny bubbles. Nano Gas™ nanobubbles of gas in liquid enhance oil recovery, clean oil industry wastewater, and improve plant and animal growth. Nano Gas’s™ unique technology does not clog up because it uses no membranes. The technology scales up for high volume treatment because Nano Gas™ puts so much gas in solution in a single pass that it delivers higher dissolve oxygen even after diluting fifteen times. This platform technology has applications in sewage treatment and algae production for biofuel as well. Nano Gas™ has eighteen patents with thirty more pending.
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.
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