HOUSTON--(BUSINESS WIRE)--Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today that the board of directors of its general partner has declared the partnership’s quarterly cash distribution of $0.625 per limited partner unit ($2.50 annually) for the quarter ended June 30, 2021, which is flat quarter over quarter. In addition, Crestwood announced a quarterly cash distribution of $0.2111 per Class A preferred equity unit ($0.8444 annually). Both common and preferred distributions will be made on August 13, 2021, to unitholders of record as of August 6, 2021.
Crestwood plans to report financial results for the second quarter 2021 on Tuesday, July 27, 2021, before the New York Stock Exchange opens for trading. Following the announcement, management will host a conference call for investors and analysts at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) that day to discuss the operating and financial results. Crestwood will provide an update on its operations and financial strategy at that time. The call will be broadcast live over the internet via audio webcast. Investors will be able to connect to the webcast via the “Investors” page of Crestwood’s website at www.crestwoodlp.com. Please log in at least ten minutes in advance to register and download any necessary software. A replay will be available shortly after the call for 90 days.
About Crestwood Equity Partners LP
Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling, and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. Visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.
Forward-Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal securities law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. These risks and assumptions are described in Crestwood’s annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.
Tax Notice to Foreign Investors
This release serves as qualified notice to nominees under Treasury Regulation Sections 1.1446-4(b)(4) and (d). Please note that 100% of Crestwood’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Crestwood’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not Crestwood, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.
Crestwood Equity Partners LP
Investor Contacts
Josh Wannarka, 713-380-3081
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Senior Vice President, Investor Relations, ESG & Corporate Communications
Rhianna Disch, 713-380-3006
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Director, Investor Relations
Sustainability and Media Contact
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Vice President, Sustainability and Corporate Communications
HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that its subsidiary, Corpus Christi Liquefaction Stage III, LLC (“Corpus Christi Stage III”), has entered into a long-term gas supply agreement (“GSA”) with Tourmaline Oil Marketing Corp. (“Tourmaline”), a subsidiary of Tourmaline Oil Corp. (TSX: TOU), the largest natural gas producer in Canada.
Under the GSA, Tourmaline has agreed to sell 140,000 MMBtu per day of natural gas to Corpus Christi Stage III for a term of 15 years beginning in early 2023. The LNG associated with this gas supply, approximately 0.85 million tonnes per annum (“mtpa”), will be marketed by Cheniere. Cheniere will pay Tourmaline an LNG-linked price for its gas, based on the Platts Japan Korea Marker (JKM), after deductions for fixed LNG shipping costs and a fixed liquefaction fee. Tourmaline Oil Corp. is acting as guarantor of the GSA on behalf of Tourmaline. This Integrated Production Marketing (IPM) transaction is expected to support the development of the Corpus Christi Stage III project.
“This latest IPM agreement with Canada’s largest natural gas producer demonstrates the breadth of Cheniere’s natural gas resource supply and the range of our commercial options,” said Jack Fusco, Cheniere’s President and CEO. “This commercial agreement is expected to support our shovel-ready Corpus Christi Stage III project while enabling Canadian natural gas to reach international LNG markets. Additionally, it reinforces Cheniere’s track record of creating collaborative, innovative solutions to meet customers’ needs and supports Cheniere’s growth.”
“Our long-term supply agreement with Cheniere is the next important step in Tourmaline Oil Corp’s evolving market diversification strategy. We are pleased to be supplying low emission Canadian natural gas with Cheniere to growing international markets,” said Mike Rose, Tourmaline Oil Corp’s President and CEO.
The Corpus Christi Stage III project is being developed to include up to seven midscale liquefaction trains with a total expected nominal production capacity of approximately 10 mtpa. It has received all necessary regulatory approvals.
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to the amount and timing of share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
Investors
Randy Bhatia, 713-375-5479
Media Relations
Eben Burnham-Snyder, 713-375-5764
Jenna Palfrey, 713-375-5491
CANONSBURG, Pa.--(BUSINESS WIRE)--Archaea Energy LLC (“Archaea” or “the Company”), an emerging leader in the development of renewable natural gas (“RNG”) in the U.S., announced today several key appointments to its leadership and management teams as well as recent operating highlights.
Archaea recently appointed several new leadership and management team members as it prepares to become a publicly-traded company through a business combination with Aria Energy LLC (“Aria”) and Rice Acquisition Corporation (“RAC”). These recent additions include Derek Kramer as Chief Technology Officer (“CTO”), Lindsay Ellis as General Counsel and Corporate Secretary (“GC”), Chad Bellah as Chief Accounting Officer (“CAO”), Megan Light as Vice President of Investor Relations and Campbell Stetter as Vice President of Finance. The business combination is expected to close in the third quarter of 2021 and the combined company, which will be called Archaea Energy, plans to be listed on the New York Stock Exchange under the ticker symbol “LFG.”
“To support and advance the company’s growth trajectory as we continue the integration with Aria and transition to becoming a publicly-traded company, I am pleased to welcome Chad, Derek, Lindsay, Campbell, and Megan to leadership positions within our team,” said Nick Stork, co-founder and CEO of Archaea. “We continue to attract top-level talent and this group is a great example of that. We truly believe that the talent and experience level of our team is unrivaled in the space.”
As CTO, Derek Kramer will be responsible for Archaea’s internal and external technology strategy and operations. Mr. Kramer has extensive executive experience implementing innovative programs and platforms to leverage data and technology to drive business performance and optimization, both as a consultant and in-house for a variety of organizations, including large publicly-traded companies such as American Electric Power and Pacific Gas & Electric.
As GC, Lindsay Ellis will lead the Company’s legal and risk management functions. Mrs. Ellis has significant experience as strategic-focused in-house counsel at EagleClaw Midstream and Rice Energy Inc. and well as valuable experience at Gibson, Dunn & Crutcher LLP and Vinson & Elkins L.L.P. Mrs. Ellis brings a wealth of expertise in mergers and acquisitions, capital markets and securities, corporate governance and SEC corporate matters.
As CAO, Chad Bellah will oversee the accounting practices of the Company. Mr. Bellah has experience advising Fortune 500 companies with complex accounting needs and providing responsible and strategic accounting practices to support short and long-term business objectives. Mr. Bellah spent 13 years at Anadarko Petroleum Corporation in a variety of accounting roles, including most recently leading accounting research and policy. Additionally, Mr. Bellah started his accounting career as an audit manager at Ernst & Young.
As Vice President of Investor Relations, Megan Light will lead interactions with the investment community and research analysts. Ms. Light has experience in finance and investor relations across multiple energy sectors and joins the Company from an investor relations role at Cheniere Energy, Inc., the second-largest global operator of natural gas liquefaction capacity.
As Vice President of Finance, Campbell Stetter will be responsible for leading a variety of initiatives within finance and corporate development for the Company. Mr. Stetter has highly valuable energy finance experience including investment banking, private equity, and corporate finance experience and joins the Company from PetroLegacy Energy, a privately-owned E&P company.
Archaea also highlighted recent operating updates for the combined company, including:
On Friday, July 2, 2021, RAC refiled its preliminary proxy statement with the Securities and Exchange Commission (“SEC”), which contains information regarding a number of the highlights mentioned above, in addition to other updates for the combined company, including Q1 2021 information1.
“We are pleased to provide our first quarterly disclosure for the combined company as an important step in our commitment to transparency with our stakeholders,” said Nick Stork. “Our current focus is on ensuring the advancement of our development schedule as well as successful integration of Archaea and Aria teams and systems. We continue to see significant opportunities to maximize financial returns and value to our stakeholders.
“We are focused on the development and construction of key commercial projects, including Project Assai, which upon completion will be supported by a portfolio of long-term fixed price contracts, enabling us to limit revenue volatility and provide predictable returns to shareholders while enabling our customers to achieve their long-term environmental objectives.
“Conversations for business development and long-term contractual offtake continue to accelerate, and we are seeing positive momentum in almost every aspect of our business as we work to leverage our expertise and technological advantages. With our focus on continued execution, we are reaffirming EBITDA guidance for the combined company for full year 2021, which was previously released in April 2021.
“I’d like to thank the employees from both Aria and Archaea for their continued hard work, which gives us excellent operational momentum heading into the anticipated merger close. We’re very excited to begin operating as one team and unlocking the value potential of the combined businesses.”
1. Information in the preliminary proxy statement is subject to change, possibly materially, due to SEC review or otherwise. |
About Archaea Energy LLC
Archaea Energy LLC is an emerging leader in developing renewable natural gas from high-carbon emission processes and industries by capturing recurring emissions from food waste, wastewater, agricultural waste and landfill gas. Archaea builds, operates and manages RNG projects throughout the entire energy life cycle and offers off-take partners the opportunity to purchase RNG from its portfolio of projects under long-term agreements. Archaea delivers pipeline-quality RNG from coast to coast using existing natural gas infrastructure.
Additional information is available at www.archaeaenergy.com/.
Forward Looking Statements
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “may,” “might,” “will,” “would,” “could,” “should,” “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions, although not all forward looking statements contain such identifying words. All statements other than historical facts are forward looking statements. Such statements include, but are not limited to, statements concerning the business combination; market conditions and trends; earnings, performance, strategies, prospects and other aspects of the businesses of RAC, Aria, Archaea and the combined company. Forward looking statements are based on current expectations, estimates, projections, targets, opinions and/or beliefs of Archaea, and such statements involve known and unknown risks, uncertainties and other factors.
The risks and uncertainties that could cause those actual results to differ materially from those expressed or implied by these forward looking statements include, but are not limited to: (a) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed business combination and any transactions contemplated thereby; (b) the ability to complete the transactions contemplated by the proposed business combination due to the failure to obtain approval of the stockholders of RAC, or other conditions to closing of the proposed business combination; (c) the ability to meet NYSE's listing standards following the consummation of the transactions contemplated by the proposed business combination; (d) the risk that the proposed transactions disrupt current plans and operations of Aria, Archaea or their subsidiaries as a result of the announcement and consummation of the transactions described herein; (e) the ability to recognize the anticipated benefits of the proposed transactions, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its management and key employees; (f) costs related to the proposed business combination and related transactions; (g) the possibility that Aria or Archaea may be adversely affected by other economic, business, and/or competitive factors; (h) the combined company’s ability to develop and operate new projects; (i) the reduction or elimination of government economic incentives to the renewable energy market; (j) delays in acquisition, financing, construction and development of new projects; (k) the length of development cycles for new projects, including the design and construction processes for the combined company’s projects; (l) the combined company’s ability to identify suitable locations for new projects; (m) the combined company’s dependence on landfill operators; (n) existing regulations and changes to regulations and policies that effect the combined company’s operations; (o) decline in public acceptance and support of renewable energy development and projects; (p) sustained demand for renewable energy; (q) impacts of climate change, changing weather patterns and conditions, and natural disasters; (r) the ability to secure necessary governmental and regulatory approvals; and (s) other risks and uncertainties indicated in the preliminary or definitive proxy statement, including those under "Risk Factors" therein, and other documents filed or to be filed with the SEC by RAC.
The foregoing list of factors is not exclusive. You should not place undue reliance upon any forward looking statements, which speak only as of the date made. RAC, Aria, Archaea and the combined company do not undertake or accept any obligation or undertaking to update or revise the forward looking statements set forth herein, whether as a result of new information, future events or otherwise, except as may be required by law.
Important Information about the Transaction and Where to Find It
In connection with the proposed business combination, RAC has filed a preliminary proxy statement and intends to file a definitive proxy statement with the SEC. This press release does not contain all the information that should be considered concerning the proposed combination, and it is not intended to provide the basis for any investment decision or any other decision regarding the proposed combination. RAC’s stockholders and other interested persons are advised to read the preliminary proxy statement, the amendments thereto, and, when available, the definitive proxy statement and documents incorporated by reference therein filed in connection with the proposed combination, as these materials will contain important information about the combined company, RAC, Aria, Archaea and the proposed combination. When available, the definitive proxy statement will be mailed to the stockholders of RAC as of a record date to be established for voting on the proposed combination. Stockholders will also be able to obtain copies of the preliminary proxy statement, the definitive proxy statement and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC’s website at http://www.sec.gov.
Participants in the Solicitation
RAC, Aria and Archaea and their respective directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies of RAC’s stockholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of RAC’s stockholders in connection with the proposed combination, including their names and a description of their interests in the proposed combination, will be set forth in the proxy statement relating to such transaction when it is filed with the SEC.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended.
Investors
Megan Light
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Media
Katarina Matic
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917-853-1105
DUBLIN--(BUSINESS WIRE)--The "Aircraft Fuel Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global aircraft fuel systems market is expected to exhibit moderate growth during 2021-2026. Looking forward, the publisher expects the global aircraft fuel systems market to grow at a CAGR of around 5% during the forecast period (2021-2026).
Aircraft fuel systems help in loading, storing, managing and delivering fuel to the propulsion system of an aircraft. They are also used for decreasing weight and optimizing the aircraft's center of gravity (COG) by allowing fuel dumping. They comprise numerous components that ensure uniform flow of clean fuel in all operating conditions. Most aircraft fuel systems differ from each other depending on the size and type of the aircraft in which they are installed. Over the years, manufacturers have introduced pre-calibrated fuel systems that help to expedite installation for aircraft manufacturers, along with systems that do not require frequent maintenance and inspection.
Nowadays, with an increasing focus on lowering the weight of the aircraft and improving fuel efficiency, aircraft manufacturers are incorporating advanced lightweight materials in both structural and semi-structural components, which is creating the demand for lightweight, safe and reliable fuel systems. Further, the rising passenger traffic, coupled with the growing global aircraft fleet, is impelling the market growth. Various government-funded organizations are also funding research and development (R&D) activities for creating fuel systems suited for the new generation aircraft. For instance, the EU-funded SAfer FUEL (SAFUEL) project is promoting the development of systems that can meet the constraints posed by electrical connectivity and highly flammable composite materials used in modern airplanes. Manufacturers are also working on reducing the amount of electricity required for reading fuel level as well as conductive metals in fuel tanks. Some of the other factors that are strengthening the growth of the market include technological advancements in military aircraft and development in the commercial aviation sector.
Companies Mentioned
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Aircraft Fuel Systems Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Engine Type
5.5 Market Breakup by Component
5.6 Market Breakup by Technology
5.7 Market Breakup by Application
5.8 Market Breakup by Region
5.9 Market Forecast
6 Market Breakup by Engine Type
7 Market Breakup by Component
8 Market Breakup by Technology
9 Market Breakup by Application
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/cbm7fb
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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The report details the company’s actions in 2020 to advance a lower-carbon future
HOUSTON--(BUSINESS WIRE)--Phillips 66 released its 2021 Sustainability Report on Thursday, giving a broad account of how the company advanced a lower-carbon future in 2020 while weathering the pandemic. The report includes an analysis of the company’s climate-related risks and opportunities as well as performance data on various environmental, social and governance matters, underlining Phillips 66’s continued commitment to transparency.
In his introductory letter to the report, Phillips 66 Chairman and CEO Greg Garland lauded the company’s resilience amid the challenges of 2020. Phillips 66 had its best year yet in safety in 2020 and completed a number of major projects, including the 845-mile-long Gray Oak Pipeline. He also noted that the company’s efforts didn’t revolve solely around getting through the crisis.
“We also distinguished ourselves in how we kept Phillips 66 moving forward into 2021 and preparing for the future,” he said. “We announced the Rodeo Renewed project in California, which will convert our San Francisco Refinery into one of the world’s largest renewable fuels facilities, and introduced our new Emerging Energy organization. … We are committed to being part of the solution to help the world address climate change.”
The report — published on Phillips66.com and accompanied online by related web-exclusive articles and videos — includes:
To view Phillips 66’s 2021 Sustainability Report, go to phillips66.com/sustainability.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,200 employees committed to safety and operating excellence. Phillips 66 had $55 billion of assets as of March 31, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.
Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Bernardo Fallas (media)
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FORT WORTH, Texas--(BUSINESS WIRE)--Lonestar Resources US Inc. (OTCQX: LONE) (together with its subsidiaries, "Lonestar," "our" or the "Company") today provided an operational update. Lonestar announced that the results of its 2021 program continue to positively influence production and cash flow. Thus far in 2021, Lonestar has placed 7.0 gross / 5.5 net wells onstream. Located in the Hawkeye and Horned Frog areas, these wells have increased estimated production for the month of June 2021 by 23% to approximately 12,750 BOE per day, which consists of approximately 6,400 barrels per day of crude oil, 2,600 barrels per day of natural gas liquids and 22,500 Mcf per day of natural gas.
Lonestar’s Chief Executive Officer, Frank D. Bracken, III, commented, “Our 2021 capital program continues to deliver new extended reach laterals on-time and on-budget. Thus far, our 2021 production results indicate exceptional rates of return. Consequently, Lonestar is currently on-track to deliver production results at the high end of its 2Q21 guidance of 11,500 – 12,000 BOE/day, while we now expect Adjusted EBITDAX to be $23.0 million, exceeding the high end of our 2Q21 guidance of $20 - $22 million. Additionally, we expect discretionary cash flow to be $19 million, eclipsing the high end of our guidance of $16 - $18 million.”
Thus far in 2021, the following wells have been placed onstream:
Lonestar is also conducting drilling operations on the following pad:
About Lonestar
Lonestar is an independent oil and natural gas company based in Fort Worth, Texas, focused on the development, production and acquisition of unconventional oil, natural gas liquids and natural gas properties in the Eagle Ford Shale in Texas.
Cautionary Note Regarding Forward Looking Statements
Disclosures in this press release contain certain forward-looking statements within the meaning of the federal securities laws. Statements that do not relate strictly to historical or current facts are forward-looking. These statements contain words such as “possible,” “if,” “will,” “expect” and “assuming” and involve risks and uncertainties including, among others that our business plans may change as circumstances warrant and securities of the Company may not ultimately be offered to the public because of general market conditions or other factors. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2021, and any subsequently filed quarterly reports on Form 10-Q. Any forward-looking statements in this press release are made as of the date of this press release and the Company undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or of which the Company becomes aware, after the date hereof, unless required by law.
Chase Booth, 817-921-1889
AUSTIN, Texas--(BUSINESS WIRE)--USA Compression Partners, LP (NYSE: USAC) (“USA Compression”) today announced a cash distribution of $0.525 per common unit ($2.10 on an annualized basis) for the second quarter of 2021. The distribution will be paid on August 6, 2021, to unitholders of record as of the close of business on July 26, 2021.
Second Quarter 2021 Earnings Conference Call
In addition, USA Compression will release its second quarter 2021 results prior to the opening of U.S. financial markets on Tuesday, August 3. Management will conduct an investor conference call the same day starting at 11 a.m. Eastern Time (10 a.m. Central Time) to discuss financial and operating results. The call will be broadcast live over the internet. Investors may participate either by phone or audio webcast.
By Phone: |
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Dial 800-263-0877 inside the U.S. and Canada at least 10 minutes before the call and ask for the USA Compression Partners Earnings Call. Investors outside the U.S. and Canada should dial 646-828-8143. The conference ID for both is 9227045. |
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A replay of the call will be available through August 13, 2021. Callers inside the U.S. and Canada may access the replay by dialing 888-203-1112. Investors outside the U.S. and Canada should dial 719-457-0820. The conference ID for both is 9227045. |
By Webcast: |
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Connect to the webcast via the “Events” page of USA Compression’s Investor Relations website at http://investors.usacompression.com. Please log in at least 10 minutes in advance to register and download any necessary software. A replay will be available shortly after the call. |
ABOUT USA COMPRESSION PARTNERS, LP
USA Compression Partners, LP is a growth-oriented Delaware limited partnership that is one of the nation’s largest independent providers of natural gas compression services in terms of total compression fleet horsepower. USA Compression partners with a broad customer base composed of producers, processors, gatherers and transporters of natural gas and crude oil. USA Compression focuses on providing natural gas compression services to infrastructure applications primarily in high-volume gathering systems, processing facilities and transportation applications. More information is available at usacompression.com.
NON-U.S. WITHHOLDING INFORMATION
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of USA Compression’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, USA Compression’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
FORWARD-LOOKING STATEMENTS
Statements in this press release may be forward-looking statements as defined under federal law. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of USA Compression, and a variety of risks that could cause results to differ materially from those expected by management of USA Compression. USA Compression undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
Matt Liuzzi / 512-369-1624
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SAN JOSE, Calif.--(BUSINESS WIRE)--#CleanEnergy--The energy industry is undergoing rapid evolution as it adjusts to sweeping changes in everything from aging infrastructure to an imbalance in traditional ways consumers use and produce energy.
To address this complex equation, ZEDEDA, the leader in orchestration for the distributed edge, today announces significant advances in three key areas—partnerships, industry consortiums and a developer program—that position open collaboration as a key enabler for the industrial market, including companies looking to address the macro trends in the energy space.
ZEDEDA will provide its zero-trust, cloud-based orchestration solution for distributed edge computing to help Google Cloud customers securely scale deployments of any edge application, including AI/ML, on choice of hardware. This is in response to the growth of cloud infrastructure in industrial markets for centralized data storage and management, cross-facility analytics and visibility, and hyperscale compute capabilities to augment workloads deployed at the edge.
Together with joint edge application partners like Dianomic, customers will be able to drive new efficiencies through insights derived from edge environments. While the solution is horizontal in nature, the partnership is placing an initial focus on the energy space with target edge assets, including wind turbines, solar farms, and more.
“We see a number of edge use cases for multiple industries, including energy, that can be addressed with this Google Cloud partnership,” said Said Ouissal, ZEDEDA founder and CEO. “Our zero-touch provisioning and simplified lifecycle management enable businesses to start realizing business value with Google Cloud together with choice of edge hardware and applications.”
“As high-speed connectivity grows, organizations with presences at the network edge stand to benefit from low-latency access to business applications and cloud capabilities that can help modernize business processes, manage data, and more,” said Tanuj Raja, Global Head, Strategic Partnerships at Google Cloud. “We’re excited that ZEDEDA will make its edge orchestration capabilities available with Google Cloud, helping enable greater access to these applications and capabilities for customers across industries.”
In addition to its recent partnership with Agora, ZEDEDA has added additional partnerships to support energy customers facing key challenges such as digitizing legacy infrastructure, remotely monitoring critical assets, and balancing the grid with unpredictable renewable energy sources. Those partnerships announced today include:
“We are pleased to be working with ZEDEDA to provide advanced solutions for the energy sector,” said Karen Falcone, Sr. Director of Enterprise Marketing at Juniper Networks. “Combining our broad networking experience, including software-defined capabilities with the Juniper Session Smart Router and the vSRX Virtual Firewall with ZEDEDA’s Zero Trust architecture, provides customers with a robust security foundation for any mission-critical use cases within the energy vertical and beyond.”
“Together, Dianomic, ZEDEDA and Google deliver a complete Industry 4.0 edge stack built on an open-source foundation,” said Tom Arthur, CEO at Dianomic. “The energy industry faces new challenges as its generation and storage systems become massively distributed. Combining Dianomic’s FogLAMP for edge application development and data acquisition with ZEDEDA’s secure orchestration solution and Google’s state-of-the-art ML and cloud services delivers a robust and flexible foundation for edge computing challenges in industrial use cases.”
ZEDEDA is also increasing focus with Advantech as a strategic hardware partner for the energy space due to its broad portfolio of edge computing offerings, including models with C1/D2 certification for critical environments and new NVIDIA Jetson-enabled boxes to power edge AI.
“We are always looking for new and innovative ways to make edge computing solutions easier, more efficient, and more secure for customers in an industry that is seeing tremendous change,” said Jeff Brown, Sr. Sales Director for Advantech’s Industrial IoT Group. “Working with strategic, domain-focused partners such as ZEDEDA and Dianomic allows us to do just that. Advantech has one of the broadest hardware portfolios in the market, and our expansive Class 1, Division 2 product line allows for reliable, rugged solutions in remote and hazardous locations. We are thrilled to be a part of this ground-breaking group that’s putting digital transformation into the hands of the energy industry.”
Collaboration with PVHardware
ZEDEDA continues to make great progress with energy customers, recently closing a win with PVHardware. The company is using ZEDEDA’s orchestration solution to deploy and manage edge hardware and applications that aid in tracking the sun to maximize power generation.
“As we looked to leverage edge computing to help maximize power generation, we needed a solution to securely scale deployments in solar plants, including the ability to remotely manage the overall deployment lifecycle,” said Ivan Arkitpoff, CTO at PVHardware, “ZEDEDA provided us with a solution that makes it easy to deploy hardware and applications in the field and perform fail-proof updates from the cloud without having to send a technician out to the plant.”
ZEDEDA Joins Industry Consortium Groups LF Energy, OSDU and Project Alvarium
The emerging trends that face the energy industry are so wide-ranging that they require industry collaboration to address. ZEDEDA has joined several industry consortiums to drive standards via open source:
“ZEDEDA’s capabilities enable zero-touch deployments of IOTA and Project Alvarium, creating scalable connective fabrics at the edge,” said Mat Yarger, Head of Smart Mobility at the IOTA Foundation. “This can enable a peer-to-peer utility of data in the energy sector, which has massive implications to address critical problems with grid management and oversight. It will also allow new business models around electric vehicles and smart grids to thrive, as well as the realization of new asset structures. All with trust being ingrained in how these systems operate.”
To learn more about how ZEDEDA is partnering with Google Cloud and Dianomic on edge solutions, register for ZEDEDA Transform 2021 on August 18-19. This free online event brings together experts from across the edge computing and IoT landscape to discuss today’s trends, challenges and opportunities.
About ZEDEDA
ZEDEDA, the leader in orchestration for the distributed edge, delivers visibility, control and security for edge computing deployments. ZEDEDA enables customers the freedom of deploying and managing any app on any hardware at scale and connecting to any cloud or on-premises systems. Distributed edge solutions require a diverse mix of technologies and domain expertise, and ZEDEDA provides customers with an open, vendor-agnostic orchestration framework that breaks down silos and provides the needed agility and futureproofing as they evolve their connected operations. Customers can now seamlessly orchestrate intelligent applications at the distributed edge to gain access to critical insights, make real-time decisions and maximize operational efficiency. ZEDEDA is a venture-backed Silicon Valley company, headquartered in San Jose, CA, with teams based in Bangalore and Pune, India and Berlin, Germany. For more information, contact This email address is being protected from spambots. You need JavaScript enabled to view it..
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Michael Kellner
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MIAMI--(BUSINESS WIRE)--World Fuel Services Corporation (NYSE:INT) invites you to participate in a conference call with its management team on Thursday, July 29, 2021 at 5:00PM Eastern Time to discuss the Company’s second quarter results, as well as certain forward-looking information. The Company plans to release its second quarter results after the market closes on the same date.
The live conference call will be accessible by telephone at (833) 562-0141 (within the United States and Canada) or (661) 567-1221 (International). Audio replay of the call will be available through August 5, 2021. The replay numbers are: (855) 859-2056 (within the United States and Canada) and (404) 537-3406 (International). The call ID is 8667364.
The conference call will also be available via live webcast. The live webcast may be accessed by visiting the Company’s website at www.wfscorp.com and clicking on the webcast icon. An archive of the webcast will be available on the Company’s website two hours after the completion of the live call and will remain available until August 12, 2021.
About World Fuel Services Corporation
Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing supply fulfillment, energy procurement advisory services, and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.
For more information, call 305-428-8000 or visit www.wfscorp.com.
Ira M. Birns
Executive Vice President & Chief Financial Officer
or
Glenn Klevitz, Vice President, Treasurer & Investor Relations
305-428-8000
SAN RAMON, Calif. & COLUMBUS, Ind.--(BUSINESS WIRE)--Chevron U.S.A. Inc., through its Chevron Products Company division (Chevron), and Cummins Inc., (NYSE: CMI) a global power and hydrogen technologies leader, announced a memorandum of understanding (MOU) to explore a strategic alliance to develop commercially viable business opportunities in hydrogen and other alternative energy sources.
The MOU provides the framework for Chevron and Cummins to initially collaborate on four main objectives: advancing public policy that promotes hydrogen as a decarbonizing solution for transportation and industry; building market demand for commercial vehicles and industrial applications powered by hydrogen; developing infrastructure to support the use of hydrogen for industry and fuel cell vehicles; and exploring opportunities to leverage Cummins electrolyzer and fuel cell technologies at one or more of Chevron’s domestic refineries.
“Chevron is committed to developing and delivering affordable, reliable, ever-cleaner energy, and collaborating with Cummins is a positive step toward our goal of building a large-scale business in a lower-carbon area that is complementary to our current offerings,” said Andy Walz, president of Chevron’s Americas Fuels & Lubricants. “Hydrogen is just one lower-carbon solution we are investing in that will position our customers to reduce the carbon intensity of their businesses and everyday lives. We’ve also invested in developing and supplying renewable natural gas, blending renewables into our fuels, coprocessing biofeedstocks in our refineries, and abatement projects that will reduce the carbon intensity of our operations.”
“Working with Chevron to advance hydrogen technology and accelerate ecosystem development helps us continue our goal in enabling a carbon-neutral world,” said Amy Davis, vice president and president of New Power at Cummins. “The energy transition is happening, and we recognize the critical role hydrogen will play in our energy mix. We’ve deployed more than 2,000 fuel cells and 600 electrolyzers around the world and are exploring other hydrogen alternatives including a hydrogen-fueled internal combustion engine as we continue to accelerate and harness hydrogen’s powerful potential.”
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.
About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 57,800 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $1.8 billion on sales of $19.8 billion in 2020. Learn more at cummins.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during extended periods of low prices for crude oil and natural gas during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company's ability to achieve the anticipated benefits from the acquisition of Noble Energy, Inc.; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, industry-specific taxes, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company's 2020 Annual Report on Form 10-K and in other subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Forward-looking disclosure statement
Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our forecasts, guidance, preliminary results, expectations, hopes, beliefs and intentions on strategies regarding the future. These forward-looking statements include, without limitation, statements relating to our plans and expectations for our revenues and EBITDA. Our actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to: any adverse results of our internal review into our emissions certification process and compliance with emission standards; increased scrutiny from regulatory agencies, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world; policy changes in international trade; the U.K.'s exit from the European Union; changes in taxation; global legal and ethical compliance costs and risks; increasingly stringent environmental laws and regulations; future bans or limitations on the use of diesel-powered products; supply shortages and supplier financial risk, particularly from any of our single-sourced suppliers, including suppliers that may be impacted by the COVID-19 pandemic; market slowdown due to the impacts from the COVID-19 pandemic, other public health crises, epidemics or pandemics; impacts to manufacturing and supply chain abilities from an extended shutdown or disruption of our operations due to the COVID-19 pandemic; aligning our capacity and production with our demand, including impacts of COVID-19; large truck manufacturers and original equipment manufacturers customers discontinuing outsourcing their engine supply needs or experiencing financial distress, particularly related to the COVID-19 pandemic, bankruptcy or change in control; a slowdown in infrastructure development and/or depressed commodity prices; failure to realize expected results from our investment in Eaton Cummins Automated Transmission Technologies joint venture; the actions of, and income from, joint ventures and other investees that we do not directly control; product recalls; the development of new technologies that reduce demand for our current products and services; lower than expected acceptance of new or existing products or services; variability in material and commodity costs; product liability claims; our sales mix of products; protection and validity of our patent and other intellectual property rights; disruptions in global credit and financial markets as the result of the COVID-19 pandemic; labor relations or work stoppages; reliance on our executive leadership team and other key personnel; climate change and global warming; our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions and divestitures and related uncertainties of entering such transactions; exposure to potential security breaches or other disruptions to our information technology systems and data security; political, economic and other risks from operations in numerous countries; competitor activity; increasing competition, including increased global competition among our customers in emerging markets; foreign currency exchange rate changes; the performance of our pension plan assets and volatility of discount rates, particularly those related to the sustained slowdown of the global economy due to the COVID-19 pandemic; the price and availability of energy; the outcome of pending and future litigation and governmental proceedings; continued availability of financing, financial instruments and financial resources in the amounts, at the times and on the terms required to support our future business; and other risks detailed from time to time in our SEC filings, including particularly in the Risk Factors section of our 2020 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the SEC, which are available at http://www.sec.gov or at http://www.cummins.com in the Investor Relations section of our website.
Jon Mills
Cummins Inc.
Phone: 317-658-4540
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Tyler Kruzich
Chevron
Phone: 925-549-8686
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The relationship will bring Vivint smart home systems into Freedom Forever solar customers’ homes and provide a new solar offering to Vivint’s customer base
PROVO, Utah--(BUSINESS WIRE)--Vivint Smart Home, Inc. (NYSE: VVNT), a leading smart home company, today announced that it has entered into a strategic partnership with Freedom Forever, one of the country’s fastest growing residential solar system installers. The relationship between the two companies will help homeowners get a step closer to living in a smart home that generates as much energy as it uses.
Starting now, Freedom Forever customers will have a Vivint smart home system professionally installed as the first step in the solar installation process, and Vivint customers will have an immediate opportunity to add clean energy production to their homes through Freedom Forever. Vivint is currently developing an integration that will allow the Vivint system to tell the homeowner through its panel interface and app how much energy the panels are producing and how much energy the home is consuming. When used in conjunction with other energy-saving features like the Vivint Smart Thermostat, the companies believe homeowners will be better enabled to make smarter decisions about their energy usage.
“Joining forces with Freedom Forever broadens our offering and provides value to customers who are worried about the environment and skyrocketing energy costs,” said David Bywater, CEO of Vivint. Bywater was previously the CEO of Vivint Solar (acquired by Sunrun), which is the exclusive provider of solar power purchase agreements for both Vivint and Freedom Forever. “This partnership gives me great confidence that we can deliver our customers a truly integrated smart home and energy offering.”
“We are excited about combining two premier services through this partnership with Vivint,” said Brett Bouchy, CEO of Freedom Forever. “Smart Energy is a significant value add that will help customers realize savings sooner and empower them to take control of the environment in and around their home.”
Vivint adding solar to its product offering comes at a time when the company has set its sights on deepening its relationship with homeowners. The company believes that providing a clean energy option as part of its suite will give consumers confidence their homes are not only secure, but also energy efficient—an ever-increasing concern for homeowners as many regions battle extreme summer temperatures.
For more information about Vivint and Freedom Forever, visit www.vivint.com or www.FreedomForever.com.
Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, including but not limited to statements concerning the abilities and expected benefits of the anticipated integration of Vivint’s smart home system with Freedom Forever’s solar offering, including, but not limited to, Vivint’s ability to monitor energy production and consumption within its customers’ homes. Generally, statements that are not historical facts, including statements concerning the Company’s possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or similar expressions. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements should not be read as a guarantee of future performance or results, and they will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. These statements are based on current expectations and assumptions regarding future events and business performance as of the date of this press release, and they are subject to risks and uncertainties, including those discussed in Part I, Item 1A. “Risk Factors” in the Company’s Amendment No. 1 to its Annual Report on Form 10-K/A for the year ended December 31, 2020, filed with the Securities and Exchange Commission (the “SEC”) on May 12, 2021 (the “Form 10-K/A”), as such factors may be updated from time to time in the Company’s periodic filings with the SEC, that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Although Vivint Smart Home believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in those statements will be achieved or will occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. Except as required by law, Vivint Smart Home does not undertake and expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. You should read the documents Vivint Smart Home has filed with the SEC, including the Form 10-K/A and the Company’s other periodic filings, for more complete information about the Vivint Smart Home. These documents are available on both the EDGAR section of the SEC's website at www.sec.gov and the Investor Relations section of Vivint’s website at www.vivint.com
About Vivint Smart Home
Vivint Smart Home is a leading smart home company in North America. Vivint delivers an integrated smart home system with in-home consultation, professional installation and support delivered by its Smart Home Pros, as well as 24/7 customer care and monitoring. Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than 1.7 million customers throughout the U.S. and Canada. For more information, visit www.vivint.com.
About Freedom Forever
Freedom Forever and its family of companies focuses on residential solar installations that deliver best-in-class Engineering, Procurement, and Construction for its dealer network. Since 2011, Freedom Forever has enabled its dealer network to succeed with a premium offering and aggressive pricing flexibility. Freedom Forever's 25-year production guarantee provides the ultimate peace-of-mind for homeowners reluctant to make a big investment when purchasing their solar systems. With Freedom Forever, homeowners know what they're getting every time. For more information, please visit https://freedomforever.com.
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VP, Investor Relations
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LOS ANGELES--(BUSINESS WIRE)--Faraday Future ("FF"), a California-based global shared intelligent mobility ecosystem company, announced today that it will host an investor day on September 21, 2021 at its headquarters in Los Angeles. The investor day will include an overview and test drive/ride of the FF 91, the ultimate-intelligent tech-luxury product, well positioned relative to industry leading automotive manufacturers; an overview of the company’s unique advanced technologies and IP portfolio; FF 81 overview; supply chain updates; manufacturing plans and Hanford factory update, including FF 91 launch progress/milestones; and FF user ecosystem strategy overview, including the user acquisition, user operations, and the value chain co-creation/sharing plan.
Institutional investors and analysts interested in attending should email This email address is being protected from spambots. You need JavaScript enabled to view it. for registration information.
Faraday Future remains on track to complete its previously announced business combination with Property Solutions Acquisition Corp. (NASDAQ: PSAC) on July 21, 2021, which is expected to provide approximately $1 billion in gross proceeds.
Users can reserve an FF 91 now at: https://www.ff.com/us/reserve.
ABOUT FARADAY FUTURE
Established in May 2014, FF is a global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. FF's vision is to create a shared intelligent mobility ecosystem that empowers everyone to move, connect, breathe, and live freely. FF aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. With the FF 91, FF has envisioned a vehicle that redefines transportation, mobility, and connectivity, creating a true “third Internet living space,” complementing users’ home and smartphone Internet experience.
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ABOUT PROPERTY SOLUTIONS ACQUISITION CORP.
Property Solutions Acquisition Corp. is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more differentiated businesses. The company is managed by Co-CEOs Jordan Vogel and Aaron Feldman.
Property Solutions I is a $230 million SPAC formed in July 2020 and is traded on the Nasdaq under the ticker symbol “PSAC”.
IMPORTANT INFORMATION AND WHERE TO FIND IT
This press release relates to a proposed transaction between PSAC and FF. PSAC has filed with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that includes a proxy statement and prospectus of PSAC and a consent solicitation statement with respect to FF. The proxy statement/consent solicitation statement/prospectus has been mailed to stockholders of PSAC as of the June 21, 2021 record date established for voting on the proposed business combination. PSAC also will file other relevant documents from time to time regarding the proposed transaction with the SEC. INVESTORS AND SECURITY HOLDERS OF PSAC ARE URGED TO READ THE PROXY STATEMENT, PROSPECTUS AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED BY PSAC FROM TIME TO TIME WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders may obtain free copies of the proxy statement/consent solicitation statement/prospectus and other documents containing important information about PSAC and FF filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by PSAC, when and if available, can also be obtained free of charge by directing a written request to Property Solutions Acquisition Corp., 654 Madison Avenue, Suite 1009, New York, New York 10065.
PARTICIPANTS IN THE SOLICITATION
PSAC and FF and their respective directors and executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies of PSAC’s stockholders in connection with the proposed transaction. Investors and security holders may obtain more detailed information regarding the names and interests in the proposed transaction of PSAC’s directors and officers in PSAC’s filings with the SEC, including PSAC’s Annual Report on Form 10-K for the period ended December 31, 2020, which was filed with the SEC on March 31, 2021. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to PSAC’s stockholders in connection with the proposed business combination is set forth in the proxy statement/consent solicitation statement/prospectus for the proposed business combination. Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed business combination is included in the proxy statement/consent solicitation statement/prospectus that PSAC has filed with the SEC.
NO OFFER OR SOLICITATION
This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
FORWARD LOOKING STATEMENTS
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside PSAC’s or FF’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the inability to complete the transactions contemplated by the proposed business combination; the inability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, the amount of cash available following any redemptions by PSAC stockholders; the ability to meet the Nasdaq’s listing standards following the consummation of the transactions contemplated by the proposed business combination; costs related to the proposed business combination; FF’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; FF’s estimates of the size of the markets for its vehicles; the rate and degree of market acceptance of FF’s vehicles; the success of other competing manufacturers; the performance and security of FF’s vehicles; potential litigation involving PSAC or FF; the result of future financing efforts and general economic and market conditions impacting demand for FF’s products. Other factors include the possibility that the proposed transaction does not close, including due to the failure to receive required security holder approvals, or the failure of other closing conditions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the registration statement on Form S-4 and proxy statement/consent solicitation statement/prospectus discussed above and other documents filed by PSAC from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and neither PSAC nor FF undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Report demonstrates how company is driving Environmental, Social and Governance (ESG) leadership as a competitive advantage
ESG and Sustainability Report Webcast Scheduled for August 6, 2021
DAVIDSON, N.C.--(BUSINESS WIRE)--World-class recordable safety metrics, a 50% diverse Board of Directors, expanding stockholder rights and giving $150 million as one of the largest employee equity grants believed to ever be given from an industrial company are just a few of the highlights in the Ingersoll Rand Inc. (NYSE: IR) 2020 Global Sustainability Report published this week.
This report marks the company’s second annual Sustainability Report and shines a spotlight on the Operate Sustainably strategic imperative, which is one of five strategic imperatives of Ingersoll Rand along with deploy talent, accelerate growth, expand margins and allocate capital effectively.
“This journey began with a simple commitment to sustainability and that commitment is now fueling our future goals, growth, success and value,” said Vicente Reynal, president and CEO, Ingersoll Rand. “Maximizing our Ingersoll Rand Execution Excellence (IRX) discipline to unlock our ESG potential positively impacts our employees, customers and communities. I am proud of the year-long story of progress this report shares and the employees who made it happen in spite of the challenges we collectively faced with the COVID-19 pandemic.”
Highlights from this Sustainability Report include:
ESG and Sustainability Report Investor Call and Presentation
Ingersoll Rand will host an investor conference call on Friday, August 6, 2021 at 8 a.m. (Eastern time) to discuss the company’s ESG progress, roadmap and 2020 Sustainability Report. To participate in the call, please dial 1-833-502-0496, domestically, or 1-778-560-2573, internationally, and use conference ID 9668554, or ask to be joined into the Ingersoll Rand call.
Download and view the full report here.
About Ingersoll Rand Inc.
Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for our employees, customers and communities. Customers lean on us for our technology-driven excellence in mission-critical flow creation and industrial solutions across 40+ respected brands where our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity and efficiency. For more information, visit www.IRCO.com.
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Christopher Miorin
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CLEARWATER, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, today announced that the Company will hold a webcast to review its third quarter fiscal 2021 results on Thursday, July 22, 2021, at 10:00 a.m. Eastern Time.
To access the webcast, please visit the investor relations section of the Company's website: http://www.marinemax.com. The online replay will be available for a limited time beginning within one hour of the conclusion of the call.
The Company will release its third quarter fiscal 2021 financial results prior to the market open on Thursday, July 22, 2021.
During the call, it is possible that the Company may make public disclosure of material nonpublic information and may make forward-looking statements regarding the Company's business, operations, and financial condition.
About MarineMax
MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 78 retail dealership locations, which includes 31 marinas or storage operations. Through Fraser Yachts and Northrop and Johnson, the Company also is the largest super-yacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufactures boats and yachts with sales through our select retail dealership locations and through independent dealers. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also operates Boatyard, a pioneering digital platform that enhances the boating experience. MarineMax is a New York Stock Exchange-listed company (NYSE:HZO). For more information, please visit www.marinemax.com.
Michael H. McLamb
Chief Financial Officer
727-531-1700
Media:
Abbey Heimensen
MarineMax, Inc.
Investors:
Brad Cohen or Dawn Francfort
ICR, LLC
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SPRING, Texas--(BUSINESS WIRE)--Southwestern Energy Company (NYSE: SWN) today announced that Carl Giesler Jr. will join the company as Executive Vice President and Chief Financial Officer on July 19, 2021. Michael Hancock, who has served as CFO on an interim basis, will continue as Vice President - Finance & Treasurer.
"I am pleased to welcome Carl to the team at an impactful time for Southwestern Energy," said Bill Way, President and Chief Executive Officer. "Carl’s distinctive strategic perspective and disciplined approach to driving shareholder value complement the Company’s existing strategy and leadership team and will help build on SWN’s strong momentum. I want to thank Michael for the steady hand he provided these past many months and look forward to more of his exceptional work as a valued leader of the Company."
Mr. Giesler has more than 25 years of experience serving in various oil and gas finance, investing, and public company executive officer roles, including most recently at SandRidge Energy, Inc. Mr. Giesler received a bachelor's degree from the University of Virginia and a juris doctorate from Harvard Law School. He is a Chartered Financial Analyst.
About Southwestern Energy
Southwestern Energy Company (NYSE: SWN) is a leading U.S. producer of natural gas and natural gas liquids focused on responsibly developing large-scale energy assets in the nation’s most prolific shale gas basins. SWN’s returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength and operational execution. For additional information, please visit www.swn.com and www.swn.com/responsibility.
Forward Looking Statement
Certain statements and information in this news release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended. The words “believe,” “expect,” “anticipate,” “plan,” "predict," “intend,” "seek," “foresee,” “should,” “would,” “could,” “attempt,” “appears,” “forecast,” “outlook,” “estimate,” “project,” “potential,” “may,” “will,” “likely,” “guidance,” “goal,” “model,” “target,” “budget” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Statements may be forward looking even in the absence of these particular words. Examples of forward-looking statements include, but are not limited to, statements regarding the proposed acquisition of Indigo Natural Resources LLC (the “Proposed Transaction”), expected synergies and other benefits from and costs in connection with the Proposed Transaction, estimated financial metrics giving effect to the Proposed Transaction, our financial position, business strategy, production, reserve growth and other plans and objectives for our future operations, and generation of free cash flow. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. The forward-looking statements contained in this document are largely based on our expectations for the future, which reflect certain estimates and assumptions made by our management. These estimates and assumptions reflect our best judgment based on currently known market conditions, operating trends, and other factors. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control. As such, management’s assumptions about future events may prove to be inaccurate. For a more detailed description of the risks and uncertainties involved, see “Risk Factors” in our most recently filed Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other SEC filings. We do not intend to publicly update or revise any forward-looking statements as a result of new information, future events, changes in circumstances, or otherwise. These cautionary statements qualify all forward-looking statements attributable to us, or persons acting on our behalf. Management cautions you that the forward-looking statements contained herein are not guarantees of future performance, and we cannot assure you that such statements will be realized or that the events and circumstances they describe will occur. Factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements herein include, but are not limited to: the timing and extent of changes in market conditions and prices for natural gas, oil and natural gas liquids (“NGLs”), including regional basis differentials and the impact of reduced demand for our production and products in which our production is a component due to governmental and societal actions taken in response to COVID-19 or other public health crises and any related company or governmental policies and actions to protect the health and safety of individuals or governmental policies or actions to maintain the functioning of national or global economies and markets; our ability to fund our planned capital investments; a change in our credit rating, an increase in interest rates and any adverse impacts from the discontinuation of the London Interbank Offered Rate; the extent to which lower commodity prices impact our ability to service or refinance our existing debt; the impact of volatility in the financial markets or other global economic factors; difficulties in appropriately allocating capital and resources among our strategic opportunities; the timing and extent of our success in discovering, developing, producing and estimating reserves; our ability to maintain leases that may expire if production is not established or profitably maintained; our ability to realize the expected benefits from recent acquisitions or the Proposed Transaction; costs in connection with the Proposed Transaction; the consummation of or failure to consummate the Proposed Transaction and the timing thereof; costs in connection with the Proposed Transaction; integration of operations and results subsequent to the Proposed Transaction; our ability to transport our production to the most favorable markets or at all; the impact of government regulation, including changes in law, the ability to obtain and maintain permits, any increase in severance or similar taxes, and legislation or regulation relating to hydraulic fracturing, climate and over-the-counter derivatives; the impact of the adverse outcome of any material litigation against us or judicial decisions that affect us or our industry generally; the effects of weather; increased competition; the financial impact of accounting regulations and critical accounting policies; the comparative cost of alternative fuels; credit risk relating to the risk of loss as a result of non-performance by our counterparties; and any other factors listed in the reports we have filed and may file with the SEC that are incorporated by reference herein. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.
Investor Contacts
Brittany Raiford
Director, Investor Relations
(832) 796-7906
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Bernadette Butler
Investor Relations Advisor
(832) 796-6079
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BRYN MAWR, Pa.--(BUSINESS WIRE)--Energy Solutions Group, (“ESG"), a sustainable energy investment and development firm, has announced the launch of a $100M financing facility with United Leasing, Inc. (“United”) to fund renewable energy projects across the nation. United will fund up to $28M in the newest renewable-powered datacenter in the Midwest. Located in the greater Chicago area, the data center's first phase includes a newly constructed facility located at the former site of the largest powerplant polluter in the U.S. throughout most of the twentieth century. Following a complete repurposing, the site is now a high-tech data center that will deliver 100MW of capacity to Indiana, Greater Chicago, and the Midwest.
“We’re thrilled to partner with United on this exciting growth sector. The rapid proliferation of energy-intensive datacenters, combined with the demand for renewable energy, creates an unparalleled opportunity to have meaningful impact. The data center is a perfect example of what Energy Solutions Group will accomplish across the country,” said Bryan Rishforth, Principal of Energy Solutions Group. “There are so many heavily industrialized areas of the country that are primed for this type of transformative repurposing, resulting in a revived local economy and improved environmental conditions.”
With the first phase of construction completed in late 2020, the center stores and carries data for global hyper-scalers, national companies, and blue-chip telecommunication carriers.
In addition, Energy Solutions Group plans to build additional datacenter powerplants in the U.S. using clean, renewable energy.
“United has supported the transportation infrastructure and construction industries for decades and is excited to expand into the important renewable energy sector,” said Martha Ahlers, President, United Leasing. “We have supported datacenters, but the ability to support such an important project in our home state of Indiana with renewable energy is very exciting.”
The data center industry has been rapidly growing as people consume more data on their mobile devices and as more workers continue to work remotely. According to business research firm Research and Markets, it is estimated that the data center industry will grow by 2% every year through 2025, reaching a market size of $69B by 2024.
About Energy Solutions Group
Energy Solutions Group (ESG) is a sustainable energy investment and development firm that blends energy best practices, cutting edge technologies and innovative investment strategies to deliver the most efficient and cost-effective sustainable energy solutions to private and public companies. Through its national network, ESG can design, finance, implement and maintain energy management systems throughout North America. ESG is committed to diversity and contracts with businesses owned by minorities, women or disabled veterans in most of its business engagements. For more information visit www.esgcorporate.com.
About United Leasing, Inc.
United Leasing, Inc. is a customer focused and growth-oriented leasing and finance company committed to providing custom financing solutions to businesses across the U.S. and Canada. For more than 50 years, United Leasing has partnered with clients to achieve mutual success from small businesses to Fortune 100 companies. For more, visit www.unitedevv.com
Jessica Sharp
Maven Communications
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215-434-7192
Petrofac will use Landmark Digital Well Program® to deliver safe, cost effective and productive wells
HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced it signed a contract with Petrofac, an international service provider to the energy industry, to adopt Digital Well Program®, a DecisionSpace® 365 cloud application to automate drilling, completions, and engineering processes.
Powered by the iEnergy® Hybrid Cloud, the Digital Well Program provides the industry’s only integrated digital well program software. It is based on open architecture to enable flexibility so users can co-innovate and create customized solutions to plan, design, and deliver cost-effective and productive wells.
The three-year contract will enable Petrofac to incorporate artificial intelligence, machine learning, and data science to optimize its well engineering service offering. The agreement is part of Petrofac’s digital strategy to significantly reduce non-productive time and drive efficiencies across its global operations.
“DecisionSpace365 enables Petrofac to combine well engineering with productivity tools in the cloud to deliver unique value to their customers. We look forward to collaborating with Petrofac to support their digital transformation journey,” said Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions and Consulting.
“By combining our decades of well engineering experience with the latest digital technology, such as Halliburton’s iEnergy Hybrid Cloud and Digital Well Program, we will drive further efficiencies for our clients,” said Nick Shorten, chief operating officer of Petrofac Engineering and Production Services.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
For Investors:
Abu Zeya
Investor Relations
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281-871-2688
For News Media:
William Fitzgerald
External Affairs
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281-871-2601
Tom Kloster and Melissa Blanken’s expertise supports the company’s mission to deliver energy savings for businesses while accelerating the transition to a clean, reliable grid
RESTON, Va.--(BUSINESS WIRE)--Intelligent energy network provider GridPoint today announced two new members of its executive team, a Chief Financial Officer (CFO) and Chief Marketing Officer (CMO). GridPoint delivers energy savings, sustainability benefits, and resilience to businesses while accelerating the transition to a clean and reliable power grid, and is expanding its executive team as the company continues to scale.
As Chief Financial Officer, Tom Kloster will oversee all financial initiatives while partnering with GridPoint leaders and board members to manage the company’s rapid growth, including expansion of the company’s network of grid-interactive buildings. As a key strategic and operational leader, Mr. Kloster will optimize GridPoint’s financial structure to support the company’s rapid growth, drive cost initiatives, evaluate corporate and business development opportunities and manage investor relationships. Over a three decade career, Mr. Kloster has successfully enhanced the performance of multiple SaaS based tech-enabled businesses resulting in strategic sales or public equity offerings.
Chief Marketing Officer Melissa Blanken will elevate GridPoint’s brand to reach more businesses, utilities, strategic partners and investors. Ms. Blanken will also drive the positioning and go-to-market strategy for new product launches and features while partnering closely with the sales team to drive measurable results. She has decades of experience boosting brand awareness and sales opportunities for fast-growing, disruptive telecom, energy and technology companies, contributing to the strategic product positioning and go-to-market approach of many industry firsts.
“Tom and Melissa will help us meet growing market demand for our energy technology platform as distributed generation and energy storage proliferate, and as climate and resiliency concerns abound. With our expanded C-suite and ability to serve both sides of the meter, GridPoint is uniquely positioned to transform how businesses consume energy while supporting a stronger and more sustainable grid,” said GridPoint CEO Mark Danzenbaker.
Learn more about GridPoint’s executive leadership team.
About GridPoint
GridPoint’s mission is to accelerate the world’s transition to a sustainable energy future by creating a network of grid-interactive buildings. By transforming the way commercial businesses use energy through hardware and AI software, GridPoint unlocks the decarbonization, sustainability, and grid resiliency required for a cleaner, more efficient tomorrow. The technology platform harnesses power and potential within a building to deliver energy, operational, and resiliency benefits. Networked together, these buildings provide reliable, precise, and instantaneous capacity for utilities and grid operators. GridPoint’s network includes Fortune 500 enterprises, utilities, government organizations and industrial complexes.
Liz Crumpacker | Antenna Group | This email address is being protected from spambots. You need JavaScript enabled to view it.
Highlights Vital Relationship Between the Panama Canal and Houston Ship Channel
HOUSTON--(BUSINESS WIRE)--Mr. Laurentino Cortizo Cohen, President of the Republic of Panama, made a historic visit to Port Houston Thursday, highlighting the importance of the connection between the Panama Canal and the Houston Ship Channel. Panama is home to the Panama Canal. The 2016 expansion of the canal helped open new business opportunities and spurred the growth of Asia trade for Houston.
The canal's expanded capacity to accommodate larger vessels has helped increase the number of larger ships calling the Houston Ship Channel. Receiving these larger vessels has fostered continued growth in import and export cargo and economic impact and job creation for the Houston region and Texas.
Last year Houston was ranked the #1 U.S. port in total tonnage, and import containers from East Asia have grown 63%, and export containers have increased 96% since 2016.
"Unquestionably, the expansion of the Panama Canal has had a significant role in the growth of cargo volume and the number of larger ships and vessels calling our port," Executive Director Roger Guenther remarked. "That's why we must continue to make strides with the expansion of the Houston Ship Channel - Project 11 to ensure that we can accommodate the larger ships and vessels, which means more jobs and greater economic impact to our region."
Port Houston welcomed the President with a Memorandum of Understanding recognizing the importance of the relationship between the Panama Canal Authority and the Houston Ship Channel. The President also received a briefing that highlighted Houston Ship Channel business and the efforts of Port Houston, advocating Project 11, the Houston Ship Channel expansion program, which supports the widening and deepening of the 52-mile-long federal waterway and its continued maintenance.
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient and fastest-growing container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at www.PortHouston.com.
Lisa Ashley, Director, Media Relations
Office: 713-670-2644; Mobile: 832-247-8179
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ENDICOTT, N.Y.--(BUSINESS WIRE)--BAE Systems, a leader in electric propulsion, has been selected by luxury sailing yacht builder Southern Wind to provide the electric-hybrid power and propulsion system for a new high-performance superyacht. BAE Systems will supply and integrate its next-generation system on the SW96 Nyumba, the first marine vessel to benefit from the company’s newest propulsion technology.
The HybriGen® Power and Propulsion system will reduce emissions and fuel consumption for a quiet, clean, and efficient experience on the superyacht, which is designed for both long-range cruising and regatta racing. This same technology is designed to also be applicable for Southern Wind’s newly launched project, the SW108 HYBRID.
BAE Systems will also integrate a HydroGeneration mode on the SW96 Nyumba, meaning the propeller and motor will act as a generator when the vessel is sailing. HydroGeneration mode will provide vessel auxiliary power and also recharge the energy storage for a longer zero-emissions experience.
“BAE Systems’ next-generation technology represents a significant investment in our electric power and propulsion applications for the marine market,” said Steve Trichka, vice president and general manager of Power & Propulsion Solutions at BAE Systems. “This electric propulsion technology will ensure that the SW96 Nyumba operates with the highest levels of electrical efficiency to maximize the zero emissions benefit of our HydroGeneration mode.”
The HybriGen Power and Propulsion system will include an electric motor, two variable-speed generators, a lithium-ion energy storage system, and vessel auxiliary power with shore power charging. This leading-edge technology leverages fewer, lighter, and more compact components with increased electrical efficiency and the highest power density. The modular and scalable design results in a flexible system tailored to each vessel’s specific power and propulsion requirements for a fully integrated solution.
HybriGen Power and Propulsion technology builds on the company’s 25 years of experience developing and integrating more than 14,000 power and propulsion systems in transit and marine markets around the globe. Work on the program will be conducted at the company’s facility in Endicott, New York.
Eric Peterson, BAE Systems
Mobile: 603-288-4082
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www.baesystems.com/US
@BAESystemsInc
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