ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Intercontinental Exchange (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that a total of over one million futures contracts have traded on ICE Futures Abu Dhabi (IFAD) since the exchange launched on March 29, 2021, equivalent to one billion barrels of Murban crude oil.
Of this, 1,032,805 Murban Crude Oil futures contracts and 18,059 cash settled derivatives have traded. Total volume traded on IFAD since launch is 1,050,864 contracts.
“Murban futures are adding to price discovery in Asia and thus enhancing the functioning of both regional and international markets. Moreover, the physical delivery mechanism has worked smoothly over the first 7 months since launch and open interest continues to grow. Given this encouraging start, we are confident that the IFAD Murban futures contract will make many more headlines as it continues to grow in importance,” said Mike Muller, Head of Vitol Asia.
“As a shareholder and active participant, we are proud of having contributed to this major milestone for IFAD, which helps create more transparent Asian markets. The liquidity that IFAD is providing to the market is greatly appreciated and thanks to Murban’s sustainable production, wide customer base and excellent logistical capabilities, we are confident that further success is ahead,” said Thomas Waymel, President, TOTSA TotalEnergies Trading SA.
“As a new exchange in the Middle East, the successful running of IFAD undoubtedly marked a significant breakthrough in the regional oil benchmark innovation. It reflects the UAE’s potential to build up an international energy hub and lays a solid foundation for the UAE to become an emerging energy trading centre in the Middle East and even in the world,” said the manager of PetroChina International Middle East.
“For IFAD to hit the milestone of one million contracts in such a short space of time is impressive and clearly demonstrates growing client demand for the Murban Crude futures contract, across the spectrum of commercial and financial participants. We are delighted to be actively trading Murban futures and helping to build the market through growing liquidity on the exchange”, said Lee Hodgkinson, CEO, OSTC.
“We are delighted and honored to witness the cumulative volume of Murban crude traded on IFAD hitting the one billion barrel milestone at this early stage,” said Takayuki Ueda, President & CEO, INPEX Corporation. “Through IFAD, we continue to be committed to contributing to the development of the futures market exchange while working more closely with ICE, ADNOC and our partners to further improve the market for Murban crude.”
Alongside ICE Murban Crude Oil Futures, IFAD hosts Murban-related cash settled derivatives and inter-commodity spreads, offering the market the broadest range of ways to trade and hedge Murban crude oil.
For more information on how to clear or trade IFAD markets please contact This email address is being protected from spambots. You need JavaScript enabled to view it. or to arrange education sessions on IFAD please contact This email address is being protected from spambots. You need JavaScript enabled to view it..
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
ICE- CORP
Source: Intercontinental Exchange
ICE Media Contact:
Rebecca Mitchell
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+44 7951 057 351
ICE Investor Contact:
Mary Caroline O’Neal
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(770) 738-2151
DUBLIN--(BUSINESS WIRE)--The "Global Industrial Mixers Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
This study analyzes the global industrial mixers market and its short, medium, and long-term growth prospects over the next five years.
The COVID-19 pandemic has created unforeseen circumstances for businesses globally, affecting manufacturing sector growth. However, the pandemic has also increased sanitary standards, with mixers vital in maintaining these standards. Mixers that consume less power and have smart mixing capabilities and programmable logic controllers (PLCs) drive market growth.
Importantly, this research offers three lucrative growth opportunities for industrial mixer OEMs to consider in the global market. The publisher identifies these growth opportunities as critical enablers that unlock new revenue streams and deliver differentiated mixer products and services.
Research Scope
The report includes the following vertical markets in this study:
We also provide detailed market analysis by product segment-agitators:
Key Topics Covered:
1. Strategic Imperatives
2. Growth Opportunity Analysis
3. Growth Opportunity Analysis, North America
4. Growth Opportunity Analysis, Latin America
5. Growth Opportunity Analysis, Middle East and Africa
6. Growth Opportunity Analysis, Europe
7. Growth Opportunity Analysis, Asia-Pacific
8. Growth Opportunity Universe
For more information about this report visit https://www.researchandmarkets.com/r/vja0hx
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) today announced that Chief Executive Officer Jonathan Pertchik, and Chief Financial Officer and Treasurer Peter Crage will be presenting at the Stephens Investment Conference 2021 in Nashville, TN on Wednesday, December 1, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time).
The presentation will be webcast live and can be accessed through the investor relations page at www.ta-petro.com. For those unable to listen to the live broadcast, an audio replay will be available for 60 days following the presentation on the Company’s investor relations page at www.ta-petro.com.
About TravelCenters of America Inc.:
TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 18,000 team members serve guests in over 275 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.
Warning Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon TA’s present beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond TA’s control. For example, the Company’s presentation may be rescheduled to a different date or time or cancelled due to scheduling conflicts or other reasons. Investors are cautioned not to place undue reliance upon any forward-looking statements. Except as required by law, TA does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
Kristin Brown, Director, Investor Relations
(617) 796-8251
SAN FRANCISCO--(BUSINESS WIRE)--kWh Analytics, the market leader in Insurance for the Energy Transition, launched the first-of-its-kind Solar Generation Advance today. The Solar Generation Advance allows solar asset owners to receive upfront “bonus” payments in return for maintaining asset performance. The innovative new offering was developed in partnership with Excelsior Energy Capital.
kWh Analytics has structured the Solar Revenue Put on $3 billion projects, enhancing project economics and protecting against downside risk for both sponsors and lenders since 2017. As the market leader in insurance, kWh Analytics continues to explore unique solutions to improve project financial terms and mitigate risk for sponsors and financiers. The Solar Generation Advance represents another milestone in this process: the Advance provides a second revenue stream for operating and new build projects.
The Solar Generation Advance provides an additional revenue source for both development and operating assets. Specifically, for development stage assets, the Solar Generation Advance can provide additional unencumbered cash for developers, which can increase their development fee or increase equity internal rates of return by 50-100 bps. For operating assets, the Solar Generation Advance provides a flexible funding source for additional sponsor distributions or operations and maintenance enhancements to the project.
“As a long-term asset owner, we understand the benefit of flexible capital and additional revenue streams in today’s market. The Solar Generation Advance provides value-enhancing optionality to both developers and asset owners, and we are proud to be a part of this innovative solution” said Ryan Fegley, Partner and Co-Founder at Excelsior Energy Capital.
“We are excited to deliver a solution that rewards prudent owners and stewards of solar power plants. The Solar Generation Advance and Solar Revenue Put are complementary risk management tools that sophisticated investors use to unlock more value from their assets,” said Richard Matsui, CEO and Founder at kWh Analytics.
The Solar Generation Advance will help ensure our industry accomplishes its goal of installing more solar to accelerate the Energy Transition, while continuing to provide reliable returns to equity investors.
Akin Gump has provided legal support for the formation of this project with a team led by Daniel Lynch and including Matt Kapinos and Graham McCall.
About kWh Analytics
kWh Analytics, the market leader in Insurance for the Energy Transition, uses our proprietary database of renewable energy project performance of 300,000+ operating assets -- the world's largest renewables database -- to underwrite insurance policies for renewable energy, backed by Swiss Re, the world's largest reinsurer. We have insured $3 billion of American solar power plants with our first insurance product, the Solar Revenue Put. kWh Analytics is funded by venture capital and the US Department of Energy. To learn more, please visit https://www.kwhanalytics.com/, connect with us on LinkedIn, or follow @kwhanaltyics on Twitter.
About Excelsior Energy Capital
Excelsior Energy Capital is a pure-play renewable energy infrastructure fund focused on long-term investments in wind and solar power plants in North America. The Excelsior management team alone brings over 70 years of combined experience and a comprehensive set of strategic, financial, legal and operational expertise; making Excelsior Energy Capital a valuable partner for developers and operators, and a trusted manager for investors. For more information, visit http://www.excelsiorcapital.com.
Stephanie Lee
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Global Manufacturer Serves Markets Directly Related to
Clean Air, Clear Water, and Clean Energy
NEW YORK--(BUSINESS WIRE)--One Equity Partners (“OEP”), a middle market private equity firm, today announced that it has signed an agreement to acquire Norit Activated Carbon (“Norit” or “the Company”), a global manufacturer of activated carbon for purification solutions, from corporate parent Cabot Corporation (NYSE: CBT).
Norit manufactures a broad portfolio of activated carbon products used for purification needs in growing sectors including renewable natural gas, food and beverage, chemicals, pharmaceuticals, air quality, water, and automotive. The Company operates two plants in North America, five facilities in Europe and participates in three joint ventures in Canada, Asia and Mexico.
“We are proud to make this investment in Norit, whose product offering uses renewable materials to increase access to clean air and water,” said Joe Huffsmith, Managing Director, OEP. “Norit has been a leading player in the activated carbon space for over 100 years, and we feel fortunate for the opportunity to partner with the Norit team on this next phase of the company’s growth and development.”
The global activated carbon market is expected to grow at a CAGR of ~9 percent due, in part, to increased regulatory standards around air purification, water treatment, renewable natural gas purification and pharmaceutical drug production.
“This pending partnership with OEP is the beginning of an exciting new chapter for Norit,” said Imtiaz Kathawalla, VP and General Manager of Norit. “The senior management team and I are eager to collaborate closely with OEP’s professionals and tap their experience in support of our growth through geographic expansion, product offering diversification, technology innovation and strategic acquisitions.”
The transaction is subject to customary closing conditions and work council consultations and is expected to close by the end of Q1 2022.
Latham & Watkins, LLP served as legal counsel to OEP and KPMG LLP served as accounting and tax advisor. PNC Bank NA is providing debt financing for the transaction.
About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt, and Amsterdam. For more information, please visit www.oneequity.com.
About Cabot Corporation
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed silica and aerogel. For more information on Cabot, please visit the company’s website at cabotcorp.com.
Press Contact for One Equity Partners:
Tom Faust
Stanton
646-502-3513
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WALLINGFORD, Conn.--(BUSINESS WIRE)--#Alkaline--Nel Hydrogen Electrolyser AS, a division of Nel ASA (Nel, OSE:NEL), has received a purchase order for a 20MW alkaline water electrolyser from Ovako, a leading European manufacturer of engineering steel. The electrolyser will be installed at Ovako’s existing plant in Hofors, Sweden. The fossil-free hydrogen will replace the use of fossil propane gas currently used in the heating furnaces.
“We are excited to announce the delivery of electrolyser equipment to Ovako. There is huge potential in reducing CO2-emissions from steel-heating processes through green hydrogen. We look forward to working with Ovako and its partners to further develop fossil-free steel production,” says Jon André Løkke, CEO at Nel.
The purchase order has a contract value of approximately EUR 11 million with equipment delivery in late 2022. The electrolyser will produce oxygen and hydrogen for Ovako’s steel-heating process and is a major step towards zero-carbon emission steel production. The conversion to hydrogen will enable Ovako to reduce its CO2 emissions for steel production in Hofors by 50 percent.
“In June we announced our collaboration with the Volvo Group, Hitachi Energy, H2 Green Steel and Nel Hydrogen with the purpose to invest in fossil-free hydrogen in Hofors. An investment that also got the support from the Swedish Energy Agency. We are very pleased to have reached this important milestone. The electrolyser technology will enable us to eliminate CO2 for heating steel before rolling,” says Rickard Qvarfort, President Business unit Hofors.
Ovako is a leading European manufacturer of engineering steel for customers e.g. in the bearing, transportation and manufacturing industries, and is a subsidiary of Sanyo Special Steel and part of the Nippon Steel Corporation Group. The company has geographical presence in Europe, North America and Asia, and a steel product line that includes niche products and customized solutions. The carbon footprint of Ovako’s steel products is a full 80 percent lower than the global average.
Reference is made to the press release from June 22, 2021: Nel ASA: Joins hydrogen initiative with leading players to enable fossil-free steel rolling/milling.
Jon André Løkke, CEO, +47.907.44.949
Kjell Christian Bjørnsen, CFO, +47.917.02.097
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Forthcoming facility to serve as U.S. hub for sustainable land-based aquaculture
JONESPORT, Maine--(BUSINESS WIRE)--The Kingfish Company, a pioneer and leader in sustainable land-based aquaculture, has announced that it has concluded the purchase of land for its new facility in Jonesport, Maine. Upon completion, the facility will serve as Kingfish’s first production facility in the U.S. as the company looks to replicate its successful operation in Europe and establish significant local sustainable seafood production for U.S. retailers and food service.
The purchase follows the approval of two final permits from the State of Maine Department of Environmental Protection (MDEP) earlier this month, that enable Kingfish Maine to advance to pre-construction design and engineering on schedule. Both critical water-side permits were obtained earlier during 2021.
"These announcements represent a major milestone in The Kingfish Company's execution of its expansion strategy, and its focus on technology driven local production of high value import dependent seafood in the EU and the US,” said Ohad Maiman, Founder and Chief Executive Officer of The Kingfish Company. "Today, Kingfish Maine is one step closer to achieving fully operational status, and we are ready to build on our proven blueprint, and scale our technology locally to service our network of distributors nationwide."
Kingfish Maine is a wholly-owned subsidiary of The Kingfish Company- the largest Yellowtail Kingfish producer in the EU- and will deploy the same advanced technology and operational excellence proven in the Netherlands to become the largest producer of Yellowtail Kingfish in the US once the Jonesport facility is operational.
In recent months, Kingfish confirmed a U.S. nationwide retail partnership with Whole Foods to sell the company’s yellowtail product at all locations across the country.
You can learn more about The Kingfish Company’s mission to a perfect fish here.
About The Kingfish Company
The Kingfish Company is a pioneer and leader in sustainable land-based aquaculture.
Current annual production capacity at its Kingfish Zeeland facility in the Netherlands is 1,500 tons of high quality and high value Yellowtail Kingfish.
Expansion is underway and capacity in the Netherlands will reach 3,500 tons in the second half of 2022. In the US, permitting, design, and engineering for the company’s approximate 8,500 ton capacity facility is in advanced stages.
Production is based on advanced recirculating aquaculture systems (RAS), which protect biodiversity and ensure bio security. Animal welfare is paramount, and the fish is grown without use of antibiotics and vaccines. Operations run on 100 percent renewable energy, sourced from wind, solar and biogas. The company’s facilities operate on sea water, avoiding wasting of precious fresh water.
The Kingfish Company’s main product at present, the Yellowtail Kingfish (also known as Ricciola/Hiramasa/Greater Amberjack) is a highly versatile premium fish species, well known in the Italian and Asian fusion cuisines.
Its products are certified and approved as sustainable and environmentally friendly by Aquaculture Stewardship Council (ASC), Best Aquaculture Practices (BAP) and British Retail Consortium (BRC). It was the winner of the 2019 Seafood Excellence Award, and it is recommended as green choice by Good Fish Foundation.
Zach Gorin
ICR
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DEERFIELD, Ill.--(BUSINESS WIRE)--CF Industries Holdings, Inc. (NYSE: CF) today announced that the company will present at the following conferences in December:
Investors who wish to access the live conference webcasts should visit the Investor Relations section of the company’s website at www.cfindustries.com. A replay of the webcasts will be available on the CF Industries Holdings, Inc. website until March 10, 2022.
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our nine manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the Company’s website at www.cfindustries.com and encourages those interested in the Company to check there frequently.
Media
Chris Close
Director, Corporate Communications
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Investors
Martin Jarosick
Vice President, Investor Relations
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Integrates Industry Leading Transportation Management System (TMS) with Multimodal Brokerage, Managed Transportation and Parcel Solutions to Deliver Unparalleled Visibility and Control Throughout Supply Chain
ATLANTA--(BUSINESS WIRE)--#Brokerage--Transportation Insight Holding Company ("TI Holdco" or "the Company"), a leading provider of non-asset, tech-enabled logistics and freight brokerage solutions in North America, today announced the acquisition of SwanLeap, Inc., a pioneering transportation management software company. The acquisition adds SwanLeap’s proprietary, multimodal TMS and powerful analytics to TI Holdco’s end-to-end logistics services, creating a comprehensive multimodal transportation management platform.
Together with the recently announced acquisition of Platinum Circle Group, the integration of SwanLeap’s technology and talent will allow TI Holdco to accelerate its transformation of the logistics industry by giving shippers unparalleled visibility and control throughout the supply chain.
“Beginning with the 2018 merger of Transportation Insight and Nolan Transportation Group, we have been on a mission to bring together the most innovative thinkers with the most powerful technologies and data to empower the largest network of people to create a new future of logistics,” said Ken Beyer, CEO, TI Holdco. “With the acquisition of SwanLeap, we are integrating industry-leading, multimodal TMS software with our existing proprietary technology and network of over 10,000 shippers and 50,000 carriers to create the world’s largest one-touch transportation management platform. By combining this groundbreaking technology with our nationwide network of thousands of employees with deep domain expertise in all aspects of the supply chain, we are creating the ultimate hybrid-digital solution. This brings us several steps closer to implementing our vision for a true end-to-end ecosystem for the entire supply chain.”
Founded in 2013, SwanLeap has developed breakthrough technology to help shippers identify cost saving opportunities and streamline every step of the transportation process from sourcing to last-mile delivery. Leveraging a combination of real-time data and powerful analytics, SwanLeap’s proprietary, multimodal TMS has emerged as a critical tool to help shippers make better financial decisions and improve supply chain operations. SwanLeap rapidly established a reputation as a leader in technology for the transportation industry and reached the top spot on the Inc. 5000 list of fastest-growing private companies after just five years in operation.
By integrating SwanLeap’s scalable, cloud-based TMS with its existing products and services, TI Holdco will provide execution and visibility across all modes from the first mile to the last mile from a single, fully connected platform. This multimodal transportation execution control, increased visibility and connectivity will support robust predictive analytics, detailed reporting and seamless workflow integration in a highly configurable, scalable SaaS platform that can be tailored to the specific needs of TI Holdco customers.
“This acquisition accelerates our existing technology development pipeline by two-to-three years,” said Brian Work, Chief Technology Officer, TI Holdco. “SwanLeap has built an incredibly robust TMS architecture that will serve as a powerful foundation for future technology development across all our businesses. Together, we will make it possible for shippers to take control of their supply chains in real-time, using data, analytics and seamless platform integration to react faster to immediate supply chain challenges and interruptions and look ahead to make strategic decisions that will have a massive impact on their bottom lines.”
TI Holdco is a portfolio company of Gryphon Investors, a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management.
About Transportation Insight HoldCo
Transportation Insight HoldCo serves customers through logistics provider Transportation Insight, LLC, and freight brokerage Nolan Transportation Group. Together, these companies help shippers and carriers engineer efficient supply chain networks. Combined, the $4.3 billion TI Holdco organization serves more than 10,000 clients and over 50,000 carriers with logistics management services that include domestic transportation (TL, LTL, Parcel), e-commerce solutions, supply chain analytics, international transportation, warehouse sourcing, LEAN consulting and supply chain sourcing.
Ryan Rogers, TI Holding Company, 770-373-0480, This email address is being protected from spambots. You need JavaScript enabled to view it.
SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE: VLO, “Valero”) announced today that its previously announced cash tender offer (the “Any and All Tender Offer”) for any and all of its outstanding 2.700% Senior Notes due 2023 (the “Any and All Notes”) (CUSIP No. 91913YAX8) expired at 5:00 p.m., New York City time, on November 24, 2021. According to information provided by D.F. King & Co., Inc., the tender and information agent for the Any and All Tender Offer, $594,520,000 aggregate principal amount of the Any and All Notes were validly tendered and not validly withdrawn prior to or at the expiration of the Any and All Tender Offer. This amount excludes $202,000 aggregate principal amount of the Any and All Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase, dated November 18, 2021 (the “Offer to Purchase”), and the related notice of guaranteed delivery provided in connection with the Any and All Tender Offer, which remain subject to the holders’ performance of the delivery requirements under such procedures. The obligation of Valero to accept any of the Any and All Notes tendered and to pay the consideration for such Any and All Notes is subject to satisfaction or waiver of certain conditions and other terms set forth in the Offer to Purchase, including a financing condition. If the conditions are satisfied or waived, Valero expects to pay for such Any and All Notes on November 30, 2021 (the “Any and All Settlement Date”).
Holders of Any and All Notes that validly tendered and did not validly withdraw their Any and All Notes prior to the expiration of the Any and All Tender Offer are expected to receive total consideration of $1,025.65 for each $1,000 principal amount of the Any and All Notes tendered and accepted for payment, in each case plus accrued and unpaid interest up to but not including the Any and All Settlement Date.
Valero intends to fund the purchase of the Any and All Notes with a portion of the proceeds from its previously announced offering of Senior Notes, which is expected to close on November 29, 2021, and cash on hand.
Valero has retained J.P. Morgan Securities LLC and Citigroup Global Markets Inc. as Lead Dealer Managers, BofA Securities, Inc., Mizuho Securities USA LLC and MUFG Securities Americas Inc. as Co-Dealer Managers (collectively, the “Dealer Managers”) for the Any and All Tender Offer. Valero has retained D.F. King & Co., Inc. as the tender and information agent for the Any and All Tender Offer. For additional information regarding the terms of the Any and All Tender Offer, please contact: J.P. Morgan Securities LLC at (866) 834-4666 (toll free) or (212) 834-3424 (collect); or Citigroup Global Markets Inc. at (800) 831-9146. Requests for documents and questions regarding the tendering of securities may be directed to D.F. King & Co., Inc. by telephone at (212) 269-5550 (for banks and brokers only) or (800) 334-0384 (for all others, toll-free), by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or at www.dfking.com/vlo or to the Dealer Managers at their respective telephone numbers.
This announcement is for information purposes only and does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Any and All Tender Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law.
Safe-Harbor Statement
Statements contained in this press release that state Valero’s or its management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words “anticipate,” “believe,” “expect,” “plan,” “intend,” “scheduled,” “estimate,” “project,” “projection,” “predict,” “budget,” “forecast,” “goal,” “guidance,” “target,” “could,” “would,” “should,” “may,” “strive,” “seek,” “potential,” “opportunity,” “aimed,” “considering,” “continue,” and similar expressions identify forward-looking statements. Forward-looking statements in this press release include those relating to expected timing of settlement and total consideration. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of Valero’s control, such as legislative or political changes or developments, market dynamics, cyberattacks, weather events, and other matters affecting our operations or the demand for our products. These factors also include, but are not limited to, the uncertainties that remain with respect to the COVID-19 pandemic, variants of the virus, governmental and societal responses thereto, including requirements and mandates with respect to vaccines, vaccine distribution and administration levels, and the adverse effects the foregoing may have on our business or economic conditions generally. For more information concerning these and other factors that could cause actual results to differ from those expressed or forecasted, see Valero’s annual report on Form 10-K, the “Risk Factors” section included in the Offer to Purchase, quarterly reports on Form 10-Q, and other reports filed with the Securities and Exchange Commission.
About Valero
Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of transportation fuels and petrochemical products. Valero is a Fortune 500 company based in San Antonio, Texas, and owns 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day and 12 ethanol plants with a combined production capacity of approximately 1.6 billion gallons per year. The petroleum refineries are located in the United States (U.S.), Canada and the United Kingdom (U.K.), and the ethanol plants are located in the Mid-Continent region of the U.S. Valero is also a joint venture partner in Diamond Green Diesel, which owns and operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel owns North America’s largest biomass-based diesel plant. Valero sells its products in the wholesale rack or bulk markets in the U.S., Canada, the U.K., Ireland and Latin America. Approximately 7,000 outlets carry Valero’s brand names.
Valero Contacts
Investors:
Homer Bhullar, Vice President – Investor Relations and Finance, 210-345-1982
Eric Herbort, Senior Manager – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992
Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002
KILGORE, Texas--(BUSINESS WIRE)--Martin Resource Management Corporation (“MRMC”), which through its wholly owned subsidiary owns a 51% voting interest (50% economic interest) in MMGP Holdings LLC (“Holdings”), the sole owner of Martin Midstream GP LLC (the “General Partner”), which is the general partner of Martin Midstream Partners L.P. (Nasdaq: MMLP) (“MMLP”), announced today that Senterfitt Holdings Inc. (“Senterfitt”) indirectly acquired the 49% voting interest (50% economic interest) in Holdings owned by certain affiliated investment funds managed by Alinda Capital Partners (“Alinda”) by purchasing certain entities from Alinda. Senterfitt is a privately held investment entity owned by Ruben S. Martin, III, President and Chief Executive Officer of MRMC.
“I am pleased to have the opportunity to simplify the structure of the General Partner and to consolidate control back under the Martin umbrella,” said Mr. Martin, “and in doing so show my personal commitment and support to MMLP and its management team.”
As part of the announced transaction, Martin Resource LLC (“MRLLC”), a wholly-owned subsidiary of MRMC, has entered into call option agreements (the “Agreements”) with the Senterfitt subsidiaries, which own the membership interest in Holdings. Subject to certain conditions, MRLLC will have the right, but not the obligation, to purchase all of the membership interests of Holdings owned by such subsidiaries for a period of ten years.
At closing, the General Partner amended and restated its limited liability company agreement to revise corporate governance procedures and eliminate Alinda's preferential right with respect to the board appointment process, which had expanded the Board of Directors of the General Partner (the “Board”) to seven members and provided Alinda with the preferential right to appoint three members. The elimination of the preferential right results in the reduction of the Board to five members, at least three of which are required to be independent in accordance with SEC and NASDAQ requirements. Upon closing, Holdings reappointed Ruben S. Martin, III, Robert D. Bondurant, Byron Kelley, C. Scott Massey and James Collingsworth (a former Alinda appointee) to serve on the Board.
In addition to its interest in Holdings, MRMC, through various wholly-owned subsidiaries, is one of the largest unit holders of MMLP owning approximately 6.1 million common limited partnership units of MMLP.
About Martin Resource Management Corporation
MRMC through its various subsidiaries is an independent provider of marketing and distribution services for fuel oil, asphalt, diesel fuel and high-quality naphthenic lubricants. The privately-held company is based in Kilgore, Texas and was founded in 1951 by R.S. and Margaret Martin. MRMC holds a 51% voting interest (50% economic interest) in Holdings, the sole member of the General Partner of MMLP.
About Senterfitt Holdings Inc.
Senterfitt is wholly-owned by Ruben S. Martin, III, President and Chief Executive Officer of MRMC, and holds various personal investments on Ruben S. Martin's behalf, including through its subsidiaries the 49% voting interest (50% economic interest) in Holdings, the sole member of the General Partner of MMLP.
About Martin Midstream Partners
MMLP, headquartered in Kilgore, Texas, is a publicly traded limited partnership with a diverse set of operations focused primarily in the Gulf Coast region of the United States. MMLP's primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn and Facebook.
MMLP-F
Sharon Taylor
Chief Financial Officer
(877) 256-6644
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DUBLIN--(BUSINESS WIRE)--The "Marine Electric Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global marine electric vehicle market grew at a CAGR of around 8% during 2015-2020. Looking forward, the global marine electric vehicle market is projected to exhibit moderate growth during the next five years.
A significant shift in preferences from diesel-powered to hybrid electric boats is positively influencing the sales of marine EVs for both commercial and recreational purposes.
Due to the escalating demand for shipping and rising environmental concerns, there is an increase in the need for low and zero-emission vessels (ZEVs). This, in confluence with the emerging trend of digitalization and automation and the depletion of fossil fuels, represents one of the key factors bolstering the growth of the marine EV market.
Additionally, the inflating disposable incomes are promoting the sales of seagoing enclosed yachts, ferries, workboats, personal submarines, scuba sea scooters and autonomous underwater vehicles (AUVs). This is also supported by the burgeoning travel and tourism sector, which is increasing the adoption of surface boats for leisure and recreational activities.
Apart from this, the electric unmanned underwater vehicles (UUVs) are gaining traction in the oil and gas industry for offshore hydrocarbon extraction, detailed mapping of the ocean floor and scientific research. They can be integrated with high-definition (HD) cameras that transmit data to allow the inspection of the underwater environment efficiently.
Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global marine electric vehicle market, along with forecasts at the global, regional and country level from 2021-2026. The report has categorized the market based on region, vehicle type, propulsion type and application.
Breakup by Vehicle Type
Breakup by Propulsion Type
Breakup by Application
Breakup by Region
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
Key Questions Answered in the Report
For more information about this report visit https://www.researchandmarkets.com/r/pnx3nj
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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New capital will further accelerate both parties’ geographic expansion and expand iSun’s pipeline for continued growth.
WILLISTON, Vt.--(BUSINESS WIRE)--iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services and a provider of proprietary electric vehicle charging platforms, today announced it has reached a definitive agreement to make a strategic minority interest equity investment in Encore Renewable Energy, a leading innovator in community-scale clean energy and Top 20 US commercial solar developer.
HIGHLIGHTS:
iSun’s investment aligns with its previously stated growth objectives. First announced in late 2019, iSun’s growth strategy highlighted the specific steps the Company would take to accelerate the nation’s transition to solar energy across all sectors. The investment compliments two of the strategy's key pillars - organic growth organic regional growth by expanding relationships with existing Industrial and Utility customers, and investment in companies capable of increasing project pipeline opportunities.
“This partnership reflects the progress we’ve steadily been making against our three-pronged strategy for growth,” said Jeffrey Peck, Chairman and Chief Executive Officer of iSun. “By deepening our long-standing relationship with Encore Renewable Energy, we will gain invaluable insights into new geographic markets which we can use to further advance our C&I strategy. Equally important: we will be strengthening a long-term relationship with a partner whose values and commitment to innovation mirrors ours. Encore’s experience in reclaiming undervalued real estate for clean energy generation and storage, and revitalizing communities with the deployment of agrivoltaic solutions illustrates their understanding of the challenges often associated with getting buy-in for community-scale clean energy development projects, and ultimately reduces barriers for solar adoption. As a Certified B Corporation and a values driven organization, Encore is a leader in creating a new industry standard. We’re proud to have them as a partner.”
"This new infusion of capital from iSun will allow us to more than double our project development pipeline over the next 12 months," offered Chad Farrell, CEO and Founder of Encore Renewable Energy. "Deploying additional community-scale solar and solar + storage solutions across the Northeast and other strategic markets supports our ongoing work to accelerate the transition to a robust clean energy economy powered by low cost, carbon free renewable resources."
About iSun Inc.
Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company has provided solar EPC services across residential, commercial & industrial, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.
About Encore Renewable Energy
Encore Renewable Energy is a Burlington, Vermont-based leader in commercial renewable energy with a proven track record in solar development from concept to completion. Founded in 2007 as Encore Redevelopment, their team specializes in the design, development, financing, permitting, and construction of solar and energy storage projects on landfills, brownfields, rooftops and carports. As a values-led company, Encore is committed to revitalizing communities and creating a cleaner, brighter future for all. For more information about Encore, please visit encorerenewableenergy.com. Stay connected via Twitter and LinkedIn.
Forward Looking Statements
This press release includes 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, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.
IR Contact:
Tyler Barnes
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802-289-8141
XIAMEN, China--(BUSINESS WIRE)--Xiamen’s marine economy is expected to embrace high-quality development during the 14th Five-Year Plan period (2021-25) as it has recently been guaranteed a leading city status in developing marine sectors in East China’s Fujian province.
The municipal government released two development plans, which noted that efforts should be made to enhance its role in bolstering the province's marine economy.
According to the plans, Xiamen will set up strategic emerging marine industrial clusters by promoting the commercialization of scientific and technological achievements.
Efforts will be made to speed up the construction of a national demonstration zone for the marine economy. Marine biological industries will also be cultivated, and build global supply bases for marine products.
Xiamen will foster new drivers of growth for marine economy, such as building itself into a Southeast International Shipping Center and improving the efficiency of the ocean shipping transportation system.
The plan noted that as of 2023, Xiamen will set up a modern marine industrial system supported by emerging marine industries, modern fisheries, port logistics, and high-end coastal tourism.
The local government has also stepped up efforts to improve basic research capability, and build a batch of marine scientific research institution. A wide range of supportive measures have been rolled out to further stimulate the vitality of scientific and technological innovation.
A high-tech industrial park for marine industry is expected to be built in Xiamen, which will push forward the development of high-end marine industries.
Supported by strong scientific and technological prowess, the output value of Xiamen’s marine industry will reach 300 billion yuan by 2025, which is estimated to account for 30 percent of the city's total GDP.
As a key port city of the 21st Century Maritime Silk Road, Xiamen will beef up efforts to attract world-class marine enterprises and core technologies, encourage Xiamen enterprises to go abroad, and deepen opening-up and cooperation in the marine economy.
The city will develop itself into a world-class port, an international coastal tourism city, an ocean cultural exchange center for countries and regions involved in the Belt and Road Initiative, as well as a global model for marine ecological governance.
Lorraine Yuan
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13911130781
Windstream Wholesale brings its award-winning waves to NTT’s CA3 wholesale data center
LITTLE ROCK, Ark.--(BUSINESS WIRE)--Windstream Wholesale, a leading provider of fast and flexible solutions, continues to expand and announced today that it is providing its advanced optical solutions from the NTT’s data center campus (formerly Raging Wire) in Sacramento as part of its new Sacramento-to-Portland route.
“With our new presence in Sacramento, Windstream Wholesale continues our ‘fast and flexible’ network expansion, which is designed to meet our customers’ burgeoning demand for diverse, high-capacity access to key data center ecosystems,” said Joe Scattareggia, executive vice president of Windstream Wholesale.
From Sacramento, Windstream’s network extends north to Portland, Hillsboro and Seattle, leveraging the company’s new Intelligent Converged Optical Network; west to Palo Alto and San Jose, and east to Reno and Salt Lake City.
The CA3 wholesale data center facility brings the latest in data center innovation and customer experience to the Sacramento area. CA3, located at 1625 W. National Drive, is ideal for enterprise and internet companies looking for a large data center footprint with turn-key or build-to-suit data center infrastructure.
In addition, CA3 provides 100% renewable energy and direct connectivity to customers collocated at CA1 and CA2, located at 1200 Striker Ave. This Striker data center location is also the largest DC in California—with the lowest-cost power.
The three data centers have approximately 50 tenants, including international and domestic carriers, cable providers and enterprise-scale businesses.
Windstream’s Intelligent Converged Optical Network (ICON) provides open and disaggregated networking infrastructure, enabling wholesale and enterprise technology customers to select unique custom routes, maintain operational insights with Windstream’s Network Intelligence functions, and place their networks closer to the edge to better serve end-users.
About Windstream
Windstream Holdings is a privately held Fortune® 1000 communications and software company. Windstream Wholesale is an innovative optical technology leader that creates deep partnerships with carriers, content and media providers, and federal government agencies to deliver fast and flexible, customized wave and transport solutions. Additional information is available at windstream.com or windstreamwholesale.com. Follow us on Twitter at @Windstream.
From Fortune. ©2021 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune 1000 are registered trademarks of Fortune Media IP Limited and are used under license. Fortune is not affiliated with, and does not endorse products or services of, Windstream.
Windstream Contact
Scott Morris, 501-748-5342
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KILGORE, Texas--(BUSINESS WIRE)--Martin Midstream Partners L.P. (NASDAQ: MMLP) (“MMLP” or the “Partnership”) announced today that members of executive management will host virtual meetings during the 2021 Bank of America Leveraged Finance Conference taking place November 30 – December 2, 2021. In addition, Bob Bondurant, Chief Financial Officer, Randy Tauscher, Chief Operating Officer and Sharon Taylor, Chief Financial Officer, will be live via webcast at 2:15 Eastern on Wednesday, December 1st. Those wishing to view the live or archived webcast should visit the Events and Presentations section under Investor Relations on the Partnership’s website at www.MMLP.com.
About Martin Midstream Partners
Martin Midstream Partners L.P. is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership's primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn and Facebook.
MMLP-E
Sharon Taylor – Chief Financial Officer
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(877) 256-6644
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Universal Insurance Holdings (NYSE: UVE) (the “Company”) today announced today that they recently joined the U.S. Environmental Protection Agency’s Green Power Partnership. Universal Insurance Holdings, Inc. is using 652,000 kilowatt-hours (kWh) of green power annually, which is enough green power to meet 25 percent of the organization's electricity use. By choosing green power, Universal Insurance Holdings, Inc. is helping advance the voluntary market for green power and development of those sources.
“This is a great honor, and we are proud to be recognized by the U.S. Environmental Protection Agency,” said Stephen Donaghy, Chief Executive Officer. “Using green power helps our organization reduce air pollution and lower our emissions footprint, while also sending a message to others across the country that green power is an affordable, accessible choice.”
By moving the needle in the voluntary green power market, Universal Insurance Holdings, Inc. and other Green Power Partners are helping to reduce the negative health impacts of air emissions including those related to ozone, fine particles, acid rain, and regional haze.
"EPA applauds Universal Insurance Holdings, Inc. for its leadership position in the green power marketplace," said James Critchfield, Program Manager of EPA's Green Power Partnership. "Universal Insurance Holdings, Inc. is an excellent example for other organizations in reducing greenhouse gas emissions through green power investment and use."
According to the U.S. EPA, Universal Insurance Holdings, Inc.’s green power use is equivalent to 1,161,251 miles driven by an average passenger vehicle or 510,708 pounds of coal burned.
About Universal Insurance Holdings, Inc.
Universal Insurance Holdings (UVE) is a holding company offering property and casualty insurance and value-added insurance services. We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution. We sell insurance products through both our appointed independent agents and through our direct online distribution channels in the United States across 19 states (primarily Florida). Learn more at UniversalInsuranceHoldings.com.
About EPA’s Green Power Partnership
The Green Power Partnership is a voluntary program that helps increase green power use among U.S. organizations to advance the American market for green power and development of those sources as a way to reduce air pollution and other environmental impacts associated with electricity use. In 2020, the Partnership had more than 700 Partners voluntarily using nearly 70 billion kilowatt-hours of green power annually. Partners include a wide variety of leading organizations such as Fortune 500® companies; small and medium sized businesses; local, state, and federal governments; and colleges and universities. For additional information, please visit www.epa.gov/greenpower.
Investor Relations Contact:
Rob Luther, 954-892-6487
VP, Corporate Development, Strategy & IR
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Media Relations Contact:
Andy Brimmer / Mahmoud Siddig, 212-355-4449
Joele Frank, Wilkinson Brimmer Katcher
BLACKWOOD, N.J.--(BUSINESS WIRE)--#Giveback--Vision Solar today announced that they are officially a national sponsor for the non-profit organization, Operation Turkey, a community of volunteers dedicated to feeding and clothing the homeless nationwide on Thanksgiving Day.
Through our partnership, we are helping Operation Turkey provide over 12,500 people with a thanksgiving meal and care package on Thanksgiving Day. Vision Solar and their leadership team have expressed their importance on giving back and how it aligns with their company core values, one of which is, “To give and to grow.” Vision Solar's CEO, Jonathan Seibert, has stated:
“We are honored to be a part of this journey. Together we are forever impacting our world and the lives of our neighbors, while truly living out our social responsibility as a company.” when asked about Vision Solar's philanthropy involvement.
To express their gratitude, Operation Turkey team leads visited Vision Solar's headquarters location and gave out their famous turkey hugs, where they dress up in turkey costumes and give hugs to national sponsors’ employees in an effort to educate in an interactive way more about their organization.
To learn more about Operation Turkey and its annual impact, visit www.operationturkey.com
For any inquiries regarding this press release, please feel free to contact John Czelusniak at This email address is being protected from spambots. You need JavaScript enabled to view it. or Juliana Echavarria This email address is being protected from spambots. You need JavaScript enabled to view it.
About Vision Solar:
Vision Solar is one of the fastest growing solar energy companies in the United States. Their full-service renewable energy company installs solar services for residential homes nationwide. Over the past three years, Vision Solar has grossed over $100 million in revenue, with significant increase in projected growth to produce 1000+ high-quality Green Jobs by 2022. To learn more, visit: https://www.visionsolar.com
Juliana Echavarria
Vision Solar LLC
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KILGORE, Texas--(BUSINESS WIRE)--Martin Midstream Partners L.P. (NASDAQ:MMLP) (“MMLP” or the “Partnership”) announced today the execution of an amended limited partnership agreement that permanently eliminates the incentive distribution rights (“IDRs”) of its general partner, Martin Midstream GP LLC (the “General Partner”). The elimination of the IDRs, which does not require further consents, is effective immediately.
Bob Bondurant, President and Chief Executive Officer of MMGP said, “I was pleased with the announcement earlier today concerning the consolidation of control of the General Partner under Martin Resource Management Corporation (“MRMC”) and Senterfitt Holdings Inc. ("Senterfitt"), which was fundamental for the approval of the amendment to the limited partnership agreement."
“The elimination of the IDRs removes the financial complexity in the Partnership’s structure and directly aligns MMLP, MRMC and the General Partner with the holders of our common units. I believe this transaction, although not immediately accretive, will provide value over the long-term to our unitholders and enhance the attractiveness of our common equity units.”
About Martin Resource Management Corporation
MRMC through its various subsidiaries is an independent provider of marketing and distribution services for fuel oil, asphalt, diesel fuel and high-quality naphthenic lubricants. The privately-held company is based in Kilgore, Texas and was founded in 1951 by R.S. and Margaret Martin. MRMC holds a 51% voting interest (50% economic interest) in Holdings, the sole member of the General Partner of MMLP.
About Senterfitt Holdings Inc.
Senterfitt is wholly-owned by Ruben S. Martin, III, President and Chief Executive Officer of MRMC, and holds various personal investments on Ruben S. Martin's behalf, including through its subsidiaries the 49% voting interest (50% economic interest) in Holdings, the sole member of the General Partner of MMLP.
About Martin Midstream Partners
MMLP, headquartered in Kilgore, Texas, is a publicly traded limited partnership with a diverse set of operations focused primarily in the Gulf Coast region of the United States. MMLP's primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn and Facebook.
MMLP-F
Sharon Taylor
Chief Financial Officer
(877) 256-6644
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HALIFAX, Nova Scotia--(BUSINESS WIRE)--Today, Tribe Network and Emera Inc. launched the Tribe IDEA (Inclusion, Diversity, Equity & Access) Fellowship presented by Emera. The IDEA Fellowship will create opportunities for Black, Indigenous and People of Colour (BIPOC) in Atlantic Canada to pursue entrepreneurship and innovation.
“Corporate and government decision-making in Nova Scotia needs impactful ideas that reflect our most historic and marginalized communities so we can move forward as a more equitable Province,” says Alfred Burgesson, CEO & Founder of Tribe Network. “That’s why, in partnership with Emera, we’re committed to helping to create opportunities for Black, Indigenous and People of Colour to influence entrepreneurship and innovation in a way that reflects the needs of our community as a whole.”
Emera is investing $375,000 from its Diversity, Equity and Inclusion Fund to establish the Fellowship. The program will provide participants with access to peer networks, mentors and industry experts, as well as financial support to pursue their community-based efforts.
“This partnership builds on Emera’s long history of driving innovation and entrepreneurship in Atlantic Canada to build strong communities,” says Scott Balfour, President and CEO, Emera Inc. “By helping to provide resources and support that have historically been lacking for BIPOC entrepreneurs and community leaders, together we can shape a region that is more diverse, equitable and inclusive.”
The theme for the first cohort of participants in 2022 is Inclusive Policy, Research and Advocacy, with a focus on entrepreneurship and innovation in Nova Scotia.
NOVA SCOTIA FELLOWSHIP APPLICATION
Individuals interested in participating in the Tribe IDEA Fellowship presented by Emera are now invited to submit this application form. Applications will be accepted until December 30th.
To be eligible for the first cohort starting in 2022, applicants must be based in Nova Scotia and identify as at least one of the following:
Tribe Network staff will follow-up with applicants in the first week of January regarding application status.
About Tribe Network
Tribe Network is a social enterprise supporting Black, Indigenous and People of Colour pursuing entrepreneurship and innovation — we provide BIPOC folks with access to the relevant networks, resources and opportunities to succeed as entrepreneurs and innovators.
Tribe Network partners with community organizations, governments, educators, researchers and organizations who share the vision of applying innovative solutions to the task of improving the quality of life of Black, Indigenous and People of Colour.
Our goal is to support BIPOC access to employment, education, training and a network that provides them with the knowledge, skills, and agency they need to thrive in an ever-changing world. Learn more at www.tribenetwork.ca
About Emera Inc.
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.
Emera Diversity, Equity and Inclusion Fund
Emera and its operating companies launched the Emera Diversity, Equity & Inclusion Fund in February 2021 and are collectively investing a minimum of $5 million over five years to support organizations and initiatives advancing inclusion and diversity in our communities. To learn more, visit www.emera.com/fund.
Media Inquiries
Margaret Schwartz
Communications & Community Navigator, Tribe Network
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902 579 5701
Emma Cochrane
Manager, Corporate Communications, Emera Inc.
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902 943 0537
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