TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today its dividend forecast for the first half (ending September 30, 2021) of the current fiscal year ending March 31, 2022 (fiscal 2022).
The company plans to pay an interim dividend of 14 yen per share, as of the record date of September 30, 2021, with due consideration on performance and financial standing in the first half of fiscal 2022. The actual dividend will be declared at the Board of Directors’ meeting when financial results for the second quarter of fiscal 2022 are to be approved.
The year-end dividend, as of the record date of March 31, 2022, is currently undecided.
Dividend per share |
Interim dividend |
Year-end dividend |
Annual dividend |
Fiscal 2022 (previous announcement as of July 29, 2021) |
To be determined |
To be determined |
To be determined |
Fiscal 2022 (present announcement) |
14 yen |
To be determined |
To be determined |
Fiscal 2021 (actual) |
10 yen |
26 yen |
36 yen |
Note: |
The forecast above is based on assumptions deemed reasonable by the company at the present time, and actual results may differ significantly from forecasts. Please refer to the cautionary statement below. |
Cautionary Statement
While the statements herein including the forecast of the Mitsubishi Electric Group are based on assumptions the Group considers to be reasonable under the circumstances on the date of announcement, actual results may differ significantly from forecasts.
Such factors materially affecting the expectations expressed herein shall include but are not limited to the following:
| (1) | Any change in worldwide economic and social conditions, as well as laws, regulations, taxation and other legislation |
(2) |
Changes in foreign currency exchange rates, especially JPY/U.S. dollar rates |
(3) |
Changes in stock markets, especially in Japan |
(4) |
Changes in balance of supply and demand of products that may affect prices and volume, as well as material procurement conditions |
(5) |
Changes in the ability to fund raising, especially in Japan |
(6) |
Uncertainties relating to patents, licenses and other intellectual property, including disputes involving patent infringement |
(7) |
New environmental regulations or the arising of environmental issues |
(8) |
Defects in products or services |
(9) |
Litigation and legal proceedings brought and contemplated against the Company or its subsidiaries and affiliates that may adversely affect operations or finances |
(10) |
Technological change, the development of products using new technology, manufacturing and time-to-market |
(11) |
Business restructuring |
(12) |
Incidents related to information security |
(13) |
Large-scale disasters including earthquakes, typhoons, tsunami, fires and others |
(14) |
Social or political upheaval caused by terrorism, war, pandemics, or other factors |
(15) |
Important matters related to the directors and executive officers, major shareholders and affiliated companies of Mitsubishi Electric Corporation |
About Mitsubishi Electric Corporation
With 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company recorded a revenue of 4,191.4 billion yen (U.S.$ 37.8 billion*) in the fiscal year ended March 31, 2021. For more information, please visit www.MitsubishiElectric.com
*U.S. dollar amounts are translated from yen at the rate of ¥111=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2021
Investor Relations Inquiries
Investor Relations Group, Corporate Finance Division
Mitsubishi Electric Corporation
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Media Inquiries
Sachiko Masuda
Public Relations Division
Mitsubishi Electric Corporation
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www.MitsubishiElectric.com/news/
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR) will hold a webcast on Wednesday, October 20, 2021 to discuss the results for the third quarter ending September 30, 2021. The webcast is scheduled to begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). A press release announcing the results will be issued at 7:00 a.m. Eastern Time (6:00 a.m. Central Time).
To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the website following the webcast.
About Baker Hughes:
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
Investor Relations
Jud Bailey
+1 281-809-9088
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Media Relations
Thomas Millas
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HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) announces that it gave the required notice under the indenture governing the notes to optionally redeem $500 million in aggregate principal amount of its outstanding 6.625% Senior Notes due 2027 (the “Notes”) on October 6, 2021 (the “Redemption Date”). NRG intends to finance the redemption and associated costs with proceeds from its liquidity facilities. The optional redemption is conditioned upon NRG having sufficient availability under its liquidity facilities to complete such redemption on the Redemption Date. The redemption price will be 103.313% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest on such Notes to the Redemption Date.
A notice of conditional redemption is being sent to all currently registered holders of the Notes by the Trustee, Delaware Trust Company. This press release does not constitute an offer to sell any security, including the Notes, nor a solicitation for an offer to purchase any security, including the Notes.
About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future.
Forward-Looking Statements
This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially.
The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included herein should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the SEC at www.sec.gov.
Investors:
Kevin L. Cole, CFA
609.524.4526
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Media:
Candice Adams
609.524.5428
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JENBACH, Austria--(BUSINESS WIRE)--As part of its ongoing commitment to environmental stewardship, INNIO today announced the publication of its inaugural Sustainability Report, “Together for a Sustainable Future.” The theme of this report encompasses engagement of everyone -- with “together” being the key word indicating responsibility of all stakeholders in a journey to shape a sustainable future. The report highlights INNIO’s commitment to instituting a culture of transparency, providing progress updates and direction on INNIO’s global approach to sustainability covering its environmental, social, and governance (ESG) performance for 2020.
In continuing its sustainability journey, INNIO’s leadership and its Sustainability Review Board (SRB) laid out the company’s ESG goals and strategy which included the development and publication of its first Sustainability Report. The report details how INNIO is working responsibly to deliver communities, industry, and the public with access to sustainable, reliable, and economical power while creating and maintaining an innovative, diverse, inclusive, pleasant and safe working environment for its employees.
Further, as INNIO’s Jenbacher and Waukesha products, services and digital solutions help unlock the transition to a carbon neutral future, INNIO’s Sustainability Report provides its stakeholders with indicators on commitment and progress to reducing greenhouse emissions and initiatives around responsible resource management.
In his opening note to the Sustainability Report, INNIO president and CEO, Carlos Lange, laid out key priorities and accomplishments:
Sustainability Goals
“As we continue to implement our enterprise strategy for profitable growth, we are also underlining our commitment to climate challenges and sustainable growth. INNIO’s Sustainability Goals are related to safety, energy and emissions, water, waste, building efficiency, circular economy, jobsite efficiency and sustainability of our products, services and solutions.”
Uninterrupted Access to Products and Services
“Along with our distributors and suppliers, INNIO is working to help ensure uninterrupted access to the products and services that our global customers rely on to support society during these difficult times. The recent COVID-19 global pandemic presented new challenges around the world, and INNIO was designated by many governments as an ‘essential’ enterprise since our products, parts and services support key infrastructure in the supply of natural gas and electrical energy. Customers use our products to provide primary and standby power & heat to homes; essential facilities such as hospitals, utilities, or district heating plants; and other businesses that must continue to operate.”
Technology Leadership: Hydrogen
“In Hamburg, INNIO Jenbacher and HanseWerk Natur recently collaborated to commission the world’s first large-scale gas engine in the 1 MW range capable of running on a variety of hydrogen-natural gas mixtures or on 100% green hydrogen. It’s also the world’s first natural gas engine conversion to hydrogen in the field. Again, INNIO technology is ahead of the game, demonstrating the future-proof nature of the installed base, this time by offering the ability to convert to carbon free, 100% hydrogen capabilities.”
Digitalization
“Through digitalization, we can constantly improve our products’ design and construction in our advanced factories, flawlessly execute our services, and move beyond reactive to predictive data solutions. At our manufacturing plants, we have embraced digitalization and are continuously refining our operations, accelerating innovation and improving our customers’ experience.”
The Sustainability Report publication follows recent sustainability activities that include INNIO’s recognition by EcoVadis with a Silver business sustainability rating, and INNIO’s joining the United Nations Global Compact. Each of these efforts underscores INNIO’s holistic and structured approach to incorporating sustainability across the company, considering the environment, employee development, health and safety, diversity and inclusion, as well as corporate responsibility.
INNIO’s Sustainability Report was developed in collaboration with external ESG advisors and subject matter experts as well as internal directors from diverse backgrounds.
About INNIO
INNIO is a leading provider of renewable gas, natural gas, and hydrogen-rich solutions and services for power generation and gas compression at or near the point of use. With our Jenbacher and Waukesha gas engines, INNIO helps to provide communities, industry and the public access to sustainable, reliable and economical power ranging from 200 kW to 10 MW. We also provide life-cycle support and digital solutions to the more than 53,000 delivered gas engines globally, through our service network in more than 100 countries. We deliver innovative technology driven by decarbonization, decentralization, and digitalization to help lead the way to a greener future. Headquartered in Jenbach, Austria, the business also has primary operations in Welland, Ontario, Canada, and Waukesha, Wisconsin, U.S. For more information, visit the company's website at www.innio.com. Follow INNIO on Twitter and LinkedIn.
At INNIO, we recognize that the growth of global economies and the industrialization that has accompanied this growth are directly impacting the future of our planet. We agree with the goals of the Paris Agreement—to stop global warming and lower temperatures to pre-industrial era levels by 2050. That’s why we took important steps in 2020 to address INNIO’s sustainability strategy, diving into the material issues we identified as the touchpoints to our customers and stakeholders. Our society faces unprecedented economic, environmental, social, and cultural challenges, and we are convinced that sustainability is the key to transforming these challenges into opportunities. Our sustainability strategy recognizes INNIO’s social and environmental responsibility. We must act now on this responsibility.
INNIO’s Sustainability Report is a non-financial disclosure presented for calendar year 2020.
For any questions related to the report please contact:
Susanne Reichelt
INNIO Media Relations
+43 664 80833 2382
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NEW YORK--(BUSINESS WIRE)--Graycliff Partners LP announced today that it has completed the acquisition of Electro-Mechanical Corporation (“EMC”), a manufacturer of engineered electrical equipment sold into utility and industrial end markets.
Based in Bristol, VA and founded in 1958 by Frank Leonard, EMC manufactures medium voltage electric equipment, primarily switchgears, transformers and custom systems that serve as critical components for utility and industrial power infrastructure. The company’s products are sold to electrical utilities, renewable energy generators, mining operators, and general industrial users of power. The company has been family owned for over 60 years, and goes to market under two leading brands, Federal Pacific and Line Power.
“The EMC team is very excited to partner with Graycliff for this next chapter in the company’s history,” said Howard Broadfoot, EMC’s CEO. “EMC has established itself as a trusted partner in the electrical distribution business, and we are excited to leverage Graycliff’s guidance and resources to further grow the company in the years to come.”
“EMC has an impressive history and strong reputation as a key player in electrical power distribution infrastructure. We are excited to honor the legacy of Frank Leonard and continue to drive growth at EMC alongside Howard and his team,” said Andrew Trigg, Managing Partner at Graycliff.
EMC is the fourth investment in Graycliff’s fourth private equity fund, Graycliff Private Equity Partners IV LP. The current fund is a continuation of the firm’s strategy of making equity investments in lower middle market companies, with a focus on acquiring and/or partnering with founder and family-owned businesses in the manufacturing, business services, and value-added distribution sectors.
About Graycliff Partners LP
Graycliff Partners is an investment firm focused on making lower middle market investments, typically in manufacturing, business services and value-added distribution businesses. Through dedicated equity and credit funds, Graycliff provides capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.
Ryan Supple
Graycliff Partners LP
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212-300-2913
New capital will allow the company to further enhance its existing solar platform, continue growth into new market segments and facilitate international expansion.
SEATTLE--(BUSINESS WIRE)--Omnidian, the only nationwide provider of residential, commercial and industrial solar system performance plans and performance guarantees, announced today that it has secured a $33 million Series B capital raise. The round was led by Activate Capital. Additional round participants included Liberty Mutual Insurance and WIND Ventures, the strategic venture capital arm of Chilean multinational energy firm Copec, as well as existing investors City Light Capital, IA Capital, Evergy Ventures, Avista Development Inc., Congruent Ventures, Centrica, National Grid Partners, Energy Foundry and Blue Bear Capital.
“This successful raise is a validation of what Omnidian has accomplished over the past four years. Residential and commercial solar are moving into mainstream adoption and with that comes demand for a higher level of service and assurance that a customer’s system is operating as expected,” said Mark Liffmann, founder and CEO of Omnidian. “Our new capital partners share our vision of providing solar energy customers with a lower cost of ownership, less risk and a transformational customer experience. The capital will also enable expansion into new asset classes including energy storage, EV charging and HVAC.”
“Omnidian is a vital technology for the energy transition making the adoption of distributed energy resources like solar easier for homeowners and businesses,” said Raj Atluru, Managing Director, Activate Capital. "The renewables industry has spent the last two decades investing trillions of dollars into clean energy generation. Omnidian's intelligent asset management platform treats these IoT connected assets as critical infrastructure, ensuring the rapid adoption of renewable generation and the resiliency of our grid,” added Eric Meyer, Vice President. “The Omnidian team is world class and brings decades of insight into performance management that will accelerate the adoption of these critical technologies."
“The world is embarking on a major energy transition and Omnidian’s platform is an example of the type of technology that is needed to help consumers and businesses alike understand and maximize the performance of their clean energy systems,” said Liberty Mutual Investments Managing Director of Energy Transition & Infrastructure TJ Gaylord. “The Omnidian team continues to earn accolades for its remote monitoring, performance plans and overall level of customer satisfaction. We are excited to work alongside Omnidian as they move forward to their next phase of growth, which is aligned with our strategy of investing in alternative energy and supporting the energy transition.”
The new capital comes at a time of rapid growth for Omnidian. In addition to its performance plans for solar, the firm has launched a similar service for energy storage, both at the residential and C&I level. In the future, Omnidian’s machine learning software will monitor other IoT sensored energy products. The firm currently employs more than 100 professionals across 16 states and expects that number to grow significantly over the next several years. It will also grow the more than 1,700 megawatts it currently manages for customers. Finally, this raise will enable international expansion for the company.
The raise also comes at a time when the solar market’s growth trajectory is accelerating, increasing the need for a better experience at the customer level and the deployment of more capital at the institutional level.
“Customer peace of mind is delivered by our powerful machine learning platform ensuring that in-home or commercial energy infrastructure will deliver on its promise,” Liffmann added. “Asset performance is also key to enabling deployment of the billions of dollars in new infrastructure capital that has been earmarked for residential and especially commercial solar. I expect commercial solar’s growth to exceed most commercial solar market forecasts and Omnidian’s performance guarantees will be key to unlocking much of that capital.”
About Omnidian:
Omnidian’s mission is to protect and accelerate capital invested in clean energy through innovative technology, passionate teams and an amazing customer experience. Our state-of-the art proprietary technology provides continuous monitoring for residential and commercial solar energy systems and portfolios. As more IoT enabled clean energy technology is deployed in homes and businesses, Omnidian’s software platform will continue to provide the industry’s only end-to-end performance assurance, including proactive service alerts and field service for the life of residential and commercial solar energy systems, battery storage and more. We give consumers peace of mind, and we liberate the capital and resources of large-scale asset portfolios for our Fortune 1000 clients. For more information, visit www.omnidian.com.
About Activate Capital
Activate Capital is a leading growth equity partner to companies building smart, sustainable systems across the energy, transportation, and industrial technology markets. The firm aims to generate best-in-class financial returns while contributing to this vision of the future by investing in entrepreneurial management teams in high growth companies using technology to make the world more efficient, intelligent, and sustainable. The partners have collectively invested over $1 billion across their target sectors, resulting in 30 successful exits through IPO and M&A.
About Liberty Mutual Insurance
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
In business since 1912, and headquartered in Boston, today we are the sixth largest global property and casualty insurer based on 2020 gross written premium. We also rank 71st on the Fortune 100 list of largest corporations in the U.S. based on 2020 revenue. As of December 31, 2020, we had $43.8 billion in annual consolidated revenue.
We employ over 45,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.
For more information, visit www.libertymutualinsurance.com
About WIND Ventures
Based in San Francisco, WIND Ventures is the strategic venture capital arm of Copec, one of the leading energy companies in Central and South America and one of the most valued brands throughout Latin America. WIND Ventures leverages Copec’s significant resources to accelerate growth, primarily within Latin America, for startups and scaleups across the world within the new mobility, energy and retail sectors. Visit windventures.vc or follow us on Linkedin and Twitter
Media
Antenna Group for Omnidian, Inc.
Nia Evans
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AECOM signs MOU focused on using green hydrogen to support post-earthquake recovery and growth in the country’s central Apennines region
LOS ANGELES--(BUSINESS WIRE)--AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced it has signed a memorandum of understanding (MOU) with Spanish renewables group Iberdrola, and Italian partners Cinque International and Ancitel Energy and Environment, to upgrade Italy’s historic Apennine diesel railway with hydrogen trains. This project aims to aid economic growth for the Apennine region.
“We are excited to bring our technical expertise in the development of smart cities and new energy to this project, working with our partners to progress this first-of-a-kind railway for Italy. As leaders in environmental, social and governance (ESG), our work to develop these new energy projects will support the European Union’s net-zero carbon targets,” said Troy Rudd, AECOM’s chief executive officer. “It will also drive innovation in our industry and attract people and business back to this isolated, inland area of Italy that has been impacted by seismic events in recent years. The aim of this ambitious project is to find ways to build back sustainably, using new energy technology to create job opportunities and boost economic growth for communities in the region.”
AECOM and its partners are working on four projects to support sustainable economic recovery in the region, which was badly affected by earthquakes in 2009 and 2016 and has suffered from decades of depopulation. The first project is the upgrade of the 300km Apennine line, which will be one of Italy’s first hydrogen railways. The line runs from the town of Sansepolcro in the northern province of Arezzo, to Sulmona, a city in the central province of L'Aquila. The focus on this line is strategically important because it connects a number of inland areas through four central regions. A portion of the line has not been electrified, currently using diesel trains that will be replaced as part of the program.
The MOU also includes pre-feasibility work for a new rail line powered by green hydrogen linking Rome with Ascoli Piceno, a province in the Marche region. The third project is to assess the potential for diffused green hydrogen manufacturing activity in the region. The final project will look at ways to apply new energy and environmental technologies in post-earthquake reconstruction.
The projects align with the aims of the European Clean Hydrogen Alliance, a European Commission-led group looking at an ambitious deployment of hydrogen technologies by 2030 to support the EU’s commitment to reach carbon neutrality by 2050. In July 2021, the Apennine Railway project was pre-selected by the European Commission in its framework of activities for the European Clean Hydrogen Alliance, which aims to build a pipeline of viable investment projects and scale up the deployment of green hydrogen in Europe.
Under the MOU, AECOM is leading engineering and program management, with Iberdrola acting as industrial partner.
About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.2 billion in fiscal year 2020. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.
Media Contact:
Brendan Ranson-Walsh
Vice President, Global Communications & Corporate Responsibility
1.213.996.2367
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Investor Contact:
Will Gabrielski
Senior Vice President, Finance & Investor Relations
1.213.593.8208
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448MWdc Project marks iSun’s second foray into the fast-growing utility-scale EPC market.
BURLINGTON, Vt.--(BUSINESS WIRE)--$isun #cleanenergy--iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50 years of construction experience in solar, electrical and data services, announced today that Fusion Renewable has selected the company for turnkey professional, development, and EPC services.
Highlights
In April, iSun acquired the intellectual property of Oakwood Construction Services, enabling entry into the rapidly growing solar development services market. This is the second award executed by iSun’s Utility division, bringing total contract awards to $8.25 million in 6 months.
“This initiative is in line with iSun’s commitment to help accelerate the adoption of clean energy at every scale, from providing EV Charging, installing residential systems to large utility-scale solar systems,” commented Jeffrey Peck, iSun’s Chief Executive Officer. “Our acquisition of Oakwood construction in April of this year, and the launch of iSun Utility marked our initial entry into both the Utility scale sector and the professional and development services marketplace. In the short time since, we’ve won contracts for over $8.25 million
in development and professional services fees and have been granted EPC rights for nearly 566MWdc of projects, with potential future revenues of more than $500 million. These results underscore the efficacy of our strategy as well as the quality of the iSun Utility team that we have in place to execute on our strategy. We anticipate construction to begin starting in 2022.”
The projects were structured by Fusion Renewable, including siting, 2,600 acres of land control and diligence, and will be financed and owned by a joint venture between Israeli public companies.
Niv Sarne, Fusion Renewable’s CEO noted, “We are excited to launch our projects portfolio with iSun. This is a significant opportunity and the collaboration between the two companies has created value and led to further opportunities in the renewable sector. We are looking forward to continue working with iSun and strengthening the relationship between the two companies.”
The Altmayer Limited Partnership (“ALP”) is acting as an active development partner in the project. Daniel L. Rabinowitz, a Director of Altmayer Management, Inc., commented: “ALP is very pleased and proud to be a part of this significant renewable energy venture in South Alabama. We believe that it will provide important benefits for South Alabama and for the communities of western Mobile County. We are a longtime Mobile-based enterprise, and we are committed to entering into constructive partnerships with Mobile educational and job training institutions to provide pathways to the permanent solar energy jobs that will be created by the new facilities and look forward to the economic development that will ensue as the project moves into construction and comes online.”
About iSun Inc.
Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company has provided solar EPC services across residential, commercial & industrial, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun’s often repeat client base includes leading institutions from the U.S. Federal Government, to municipalities, universities, independent power producers, utilities, Fortune 500 and financers In April, iSun was ranked the 3rd largest domestic commercial and industrial solar engineering, procurement and construction (“EPC”) company according to Solar Power World. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.
IR Contact:
Tyler Barnes
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802-289-8141
DUBLIN--(BUSINESS WIRE)--The "Bakken Shale in the United States of America (USA), 2021 - Oil and Gas Shale Market Analysis and Outlook to 2025" report has been added to ResearchAndMarkets.com's offering.
The Bakken shale play is the second largest oil producing region in the United States behind the Permian Basin. In 2019, it averaged over 1.4 million barrels of oil per day (mmbd), which was followed by Eagle Ford play at 1.37 mmbd.
The play is located in North and South Dakotas and Montana states in the United States and southern part of Saskatchewan province in Canada. However, more than 90% of the hydrocarbon output comes from the portion of play located in the United States and accounted for almost 11% of oil and 3% of natural gas production in the United States Lower 48 for 2020.
The play peaked in production in November 2019, with 1,525 thousand barrels of oil per day (mbd) and 3.1 billion cubic feet per day (bcfd) of natural gas. Crude oil production in Bakken peaked in November 2019, and since then was declining at 6% rate on an annual basis. However, muted energy demand and crashed oil price brought by Covid-19 pandemic, caused crude oil production in the play to drop by around 40% compared to the beginning of the year.
The lowest levels of production since the end of 2019 was in May 2020 with 890 mbd and 1.9 bcfd, which is a 41% drop in oil and 39% drop in natural gas production. Production in the play is expected to slowly grow as oil prices recover, however, it is not expected to reach pre-pandemic levels in the next five years.
Scope
The report analyses the crude oil and natural gas appraisal and production activities in the Bakken shale in US. The scope of the report includes:
Reasons to Buy
Key Topics Covered:
1. Overview
1.1 Bakken Shale, Recent Developments and Trends
2. Bakken Shale, Introduction
2.1 Bakken Shale, Formation Overview
3. Bakken, Production and Activity Overview
3.1 Bakken Shale, Production Analysis, 2018-2020
3.2 Bakken Shale, COVID-19 Impact on Production
3.3 Bakken Shale, Production Outlook, 2021-2025
3.4 Bakken Shale, Drilling Activity
3.5 Well profile
4. Bakken Shale, Competitive Benchmarking
4.1 Bakken Shale, Major Companies with Prominent Presence, 2021
4.2 Bakken Shale, Major Companies' Financial Standings
4.3 Bakken Shale, Operational Performance of Leading Operators
4.4 Bakken Shale, Completion Parameters, 2019-21
4.5 Bakken Shale, Future Plans of Major Companies
4.6 Bakken Shale, Cost Trends, March 2021
5. Bakken Shale, Analysis of Bankrupt Companies
5.1 Bruin E&P
5.2 Whiting Petroleum Corp.
6. Bakken Shale, Associated Infrastructure
6.1 Pipelines
7. Mergers and Acquisition Activity in the Bakken Shale, 2019-2021
7.1 Overview of M&A Activity
7.2 Major Acquisitions
8. Bakken Shale, Analysis of Major Companies
8.1 Hess Corporation
8.2 Marathon Oil Corporation
8.3 Whiting Petroleum Corporation
8.4 ExxonMobil Corporation
8.5 ConocoPhillips
8.6 Oasis Petroleum Inc.
8.7 Petro-Hunt, LLC
8.8 Enerplus Resources Corporation
8.9 Northern Oil & Gas Inc.
8.10 Kraken Operating, LLC
8.11 Ovintiv Inc
8.12 EOG Resources
8.13 Nine Point Energy LLC
For more information about this report visit https://www.researchandmarkets.com/r/u8d8s0
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DEARBORN, Mich.--(BUSINESS WIRE)--Ford Motor Company and Redwood Materials today announced they are working together to build out battery recycling and a domestic battery supply chain for electric vehicles. Ford and Redwood’s goal is to make electric vehicles more sustainable, drive down the cost for batteries, and ultimately help make electric vehicles accessible and affordable for more Americans.
Ford and Redwood are collaborating to integrate battery recycling into Ford’s domestic battery strategy. Redwood’s recycling technology can recover, on average, more than 95% of the elements like nickel, cobalt, lithium and copper. These materials can be reused in a closed-loop with Redwood moving to produce anode copper foil and cathode active materials for future battery production. By using locally produced, recycled battery materials, Ford can drive down costs, increase battery materials supply and reduce its reliance on imports and mining of raw materials.
“Ford is making electric vehicles more accessible and affordable through products like the all-electric F-150 Lightning, Mustang Mach-E and E-Transit, and much more to come,” said Jim Farley, Ford president and CEO. “Our partnership with Redwood Materials will be critical to our plan to build electric vehicles at scale in America, at the lowest possible cost and with a zero-waste approach.”
Ford is investing more than $30 billion in electrification through 2025, including the collaboration between Ford and Redwood, which will help deliver on Ford’s plans to localize the battery supply chain.
This builds on Ford’s previously announced plans to scale battery production through multiple BlueOvalSK battery plants in North America starting mid-decade. By building out a domestic, sustainable supply chain with recycled materials, Ford can drive down battery costs and help protect the environment. BlueOvalSK is the U.S. joint venture that Ford and SK Innovation intend to form, subject to definitive agreements, regulatory approvals, and other conditions.
Last week, Redwood announced it will produce strategic battery materials, supplying anode copper foil and cathode active materials to U.S. partners. Redwood plans to transform the lithium-ion battery supply chain by offering large-scale sources of these domestic materials to reduce the cost and environmental footprint of electric vehicle production. The local supply of these two materials is a key part of Ford’s commitment to reduce the environmental impact of battery manufacturing and continue to ramp up electric vehicle production in the U.S.
“We are designing our battery supply chain to create a fully closed-loop lifecycle to drive down the cost of electric vehicles via a reliable U.S. materials supply chain,” said Lisa Drake, Ford’s North America chief operating officer. “This approach will help ensure valuable materials in end-of-life products re-enter the supply chain and do not wind up in landfills, reducing our reliance on the existing commodities supply chain that will be quickly overwhelmed by industry demand.”
Redwood Materials, founded by JB Straubel and based in northern Nevada, is creating a circular supply chain for batteries and helping partners across the electric vehicle and clean energy industries by providing pathways, processes, and technologies to recycle and remanufacture lithium-ion batteries.
“Increasing our nation’s production of batteries and their materials through domestic recycling can serve as a key enabler to improve the environmental footprint of U.S. manufacturing of lithium-ion batteries, decrease cost and, in turn, drive up domestic adoption of electric vehicles,” said Straubel, Redwood Materials CEO. “Redwood and Ford share an understanding that to truly make electric vehicles sustainable and affordable, we need to localize the existing complex and expensive supply chain network, create pathways for end-of-life vehicles, ramp lithium-ion recycling and increase battery production, all here in America.”
Longer-term, Ford and Redwood plan to work together on the best approach to collect and disassemble end-of-life batteries from Ford’s electric vehicles for recycling and remanufacturing to help reduce the cost associated with battery repairs and raw materials to manufacture all-new batteries.
“Our work with Redwood will, by design, help ensure the infrastructure is in place to cost-effectively recycle end-of-life Ford batteries to create a robust domestic materials stream and drive down the cost of electric vehicles,” Drake said.
Ford to support Redwood Materials expansion
To further advance these business opportunities between the companies, Ford invested $50 million into Redwood Materials to help the company expand its footprint in the U.S.
About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, that is committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for and deepen the loyalty of those customers. Ford designs, manufactures, markets and services a full line of connected, increasingly electrified passenger and commercial vehicles: Ford trucks, utility vehicles, vans and cars, and Lincoln luxury vehicles. The company is pursuing leadership positions in electrification, connected vehicle services and mobility solutions, including self-driving technology, and provides financial services through Ford Motor Credit Company. Ford employs about 182,000 people worldwide. More information about the company, its products and Ford Motor Credit Company is available at corporate.ford.com.
About Redwood Materials
Redwood Materials is inventing sustainable materials to build the world by creating circular supply chains, turning waste into profit and solving the environmental impacts of new products before they happen. Founded by JB Straubel, the Nevada-based company is working to transform the lithium-ion battery supply chain by offering large-scale sources of domestic anode and cathode materials produced from recycled batteries, creating a fully-closed loop that will drive down the costs and environmental footprint of electric vehicles. More information available at redwoodmaterials.com.
For news releases, related materials and high-resolution photos and video, visit www.media.ford.com.
Ford Motor Company
Martin Gunsberg
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SINGAPORE--(BUSINESS WIRE)--#AsiaPacific--UPC Hydrogen Pte Ltd ("UPC Hydrogen") is pleased to announce that it has acquired the exclusive license to produce hydrogen from technology developed by Proton Technologies Inc. (“Proton”) for a selection of countries in the Asia Pacific region. UPC Hydrogen is an affiliate of Renewables Asia Pacific Holdings Pte Ltd ("UPC Renewables"), a private company with 8 GW of wind, solar and storage in development, under construction or in operation across the Asia Pacific region.
The licenced countries include Indonesia, Vietnam, Australia, Malaysia, the Philippines, Mongolia and Myanmar. UPC Hydrogen believes that the Proton technology can produce hydrogen in these countries at a price of less than US$1.00/KG from new, plugged, abandoned or uneconomic oil wells (especially heavy oil wells) whilst keeping any carbon from being emitted from the wells. The technology could provide low cost carbon free power in areas that are less rich in natural renewable sources than most countries and that have severe shortage of suitable land due to competing uses.
Steven Zwaan, Director of UPC Hydrogen said “When we first visited Proton’s production site in Canada in early 2020, our pre-covid view was excitement about both the potential to load balance renewable-weighted grids with baseload hydrogen, but also the longer-term prospect of an electricity cost potentially lower than wind and solar. Now the world is very attuned to the benefits of saving money while deeply decarbonizing using hydrogen without emitting carbon to surface. There is no need for fresh water for this process and the ecological disturbance is limited to existing infrastructure.”
Grant Strem, Chairman & CEO of Proton added "UPC Hydrogen has been an early and critical supporter in the advancement of this transformative technology. We are delighted to work with UPC Hydrogen and assist as they and we both proliferate this important extremely clean technology."
For Media:
Proton’s Chair & CEO Grant Strem, COO Seta Afshordi, and Head of Commercial Calvin Johnson are available for interviews. Bookings can be made through
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NEW YORK--(BUSINESS WIRE)--Standard Industries Holdings Inc., a privately held global industrial company, today announced the completion of its acquisition of W. R. Grace & Co. (“Grace”) for $70.00 per share in cash.
“We are thrilled to welcome Grace to the Standard Industries family,” said David Millstone and David Winter, Co-CEOs of Standard Industries. “We look forward to working with the talented team at Grace to advance our commitment to sustainable modern industrialism, as well as to fuel innovation and continued success for Grace’s customers, employees and the communities in which the company operates.”
Hudson La Force, Grace’s President and Chief Executive Officer, said, “Today marks an exciting new chapter for Grace. As part of Standard Industries, Grace will be even better positioned to provide innovative and sustainable technologies to create value for our customers. We’re very pleased to have successfully completed this transaction and delivered significant value to our shareholders.”
As Standard Industries announced on August 31, 2021, La Force will continue as CEO until the end of the year when he will join Standard’s advisory board. Bhavesh V. (Bob) Patel, who currently serves as CEO of LyondellBasell, will succeed La Force as CEO of Grace in January 2022.
The transaction was announced on April 26, 2021, and received approval from Grace shareholders on September 17, 2021. As a result of the transaction completion, Grace is now a privately held company that will operate as a standalone company within Standard Industries, which also includes the industry-leading businesses GAF, BMI, GAF Energy, Siplast, Schiedel, and SGI. Grace’s common stock has ceased trading on the New York Stock Exchange as of market close on September 21, 2021.
Advisors:
Citi and J.P. Morgan served as financial advisors and Sullivan & Cromwell LLP served as legal counsel to Standard Industries Holdings.
Goldman Sachs & Co. LLC and Moelis & Company LLC served as financial advisors and Wachtell, Lipton, Rosen & Katz served as legal counsel to Grace.
About Standard Industries:
Standard Industries is a privately-held global industrial company operating in over 80 countries with over 20,000 employees. The Standard ecosystem spans a broad array of holdings, technologies and investments—including both public and private companies from early to late-stage—as well as world-class building solutions, performance materials and next-generation solar technology. Throughout its 140-year history, Standard has leveraged its deep industry expertise and vision to create outsize value across its businesses, which today include operating companies GAF, BMI, Grace, GAF Energy, Siplast, Schiedel and SGI, as well as related businesses 40 North, a multi-billion-dollar investment platform, 40 North Ventures and Winter Properties. Learn more at standardindustries.com.
About Grace
Built on talent, technology, and trust, Grace is a leading global supplier of catalysts and engineered materials. The company’s two industry-leading business segments—Catalysts Technologies and Materials Technologies—provide innovative products, technologies, and services that enhance the products and processes of our customers around the world. With approximately 4,300 employees, Grace operates and/or sells to customers in over 60 countries. More information about Grace is available at grace.com.
Patrick Ryan
Edelman
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Edelman
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BRISTOL, England--(BUSINESS WIRE)--Vertical Aerospace (“Vertical”), a leading British eVTOL manufacturer which is pioneering the transition to carbon free aviation, today announced that Vertical and Marubeni Corporation (“Marubeni”), a leading Japanese integrated trading and investment business conglomerate have reached an agreement to explore sustainable, emissions free Advanced Aerial Mobility (AAM) travel solutions, focused on the application of Vertical’s flagship electric aircraft, the VA-X4, in the Japanese market. Marubeni has also agreed a conditional pre-order option of up to 200 of Vertical’s aircraft.
This important partnership builds on existing commercial partnerships between Vertical and American Airlines, Virgin Atlantic, Avolon, Iberojet and Bristow who with Marubeni have already collectively agreed conditional pre-orders for 1350 aircraft in total with a value of approximately $5.4bn.
Vertical and Marubeni will now begin jointly evaluating the requirements for eVTOL aircraft operations in Japan as well as other commercial considerations such as route and network planning, infrastructure requirements and capacity, plus engaging other interested parties who can play a role in launching AAM in Japan.
By working with such an established and respected Japanese organisation, Vertical expects to accelerate its ability to enter the Japanese market and offer Japanese consumers a safer, faster, cheaper and greener alternative to current short haul options in the country.
With its technological and regulatory advantages, such as its capacity to operate high frequency eVTOL traffic in a safe environment, Japan has great potential when it comes to the commercialization of the AAM market. Marubeni believes that eVTOLs have a number of use cases in Japan, such as inter-city, intra-city, airport shuttle and life support operations, that will benefit both customers and communities. Marubeni is expecting eVTOL operations to commence in 2025 and will utilize its existing aviation capabilities to maximize the quality of personal transportation.
Vertical is now working with partners in key locations around the world to establish AAM operations in markets where there is expected high demand for eVTOL operations. In the USA, American Airlines plans to work with Vertical on passenger operations and infrastructure development. In the United Kingdom, Virgin Atlantic and Vertical plan to work together to explore the joint venture launch of a Virgin Atlantic branded short haul eVTOL network, including operations and infrastructure development.
The VA-X4, Vertical’s flagship aircraft, is expected to be certified to the same standards as commercial airliners and is expected to be significantly safer and quieter than a helicopter. By combining its world-class team with a deliberately built ecosystem of top-tier partners, such as Microsoft, American Airlines, Avolon, Honeywell, Rolls-Royce, and more, Vertical has assembled a broad mix of people and world class organisations with both commercial track records as well as experience testing, building and certifying some of the world’s most advanced aircraft.
Stephen Fitzpatrick, Founder and CEO of Vertical said:
“Marubeni is one of the most respected companies in Japan, and we are proud to be partnering with them as we look at ways to bring our VA-X4 to the Japanese market. Marubeni’s pre-order option for up to 200 aircraft provides us with a potential direct route to market and builds on our purchase agreements with American Airlines, Virgin Atlantic, Avolon, Iberojet and Bristow. This is the most exciting time in aviation for almost a century; electrification will transform flying in the 21st century in the same way the jet engine did 70 years ago and with Marubeni we are confident we have a great partner who can be a part of this transformation.”
Toru Okazaki, Senior Operating Officer, Aerospace & Ship Div at Marubeni said:
“We’re so excited to announce this great partnership with Vertical Aerospace, who is now leading the Advanced Aerial Mobility market. Through this strong partnership with Vertical, we are confident that we will successfully develop the AAM market in Japan. By seeking to popularise eVTOL technology, we will not only be enriching people’s lives but making meaningful inroads into the reduction of greenhouse gases and our path to net-zero.”
About Vertical Aerospace
Vertical Aerospace is pioneering electric aviation. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the Ovo Group, a leading energy group and Europe’s largest independent energy retailer. Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have over 1,200 combined years of experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems.
Vertical’s unrivalled top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification, allow for a lean cost structure and enable production at scale. Vertical has received conditional pre-orders for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes pre-order options from Virgin Atlantic and Marubeni, and in doing so, is creating multiple potential near term and actionable routes to market. In June 2021, Vertical Aerospace announced a SPAC merger with Broadstone Acquisition Corp (NYSE: BSN).
About VA-X4 eVTOL Aircraft
The four passenger, one pilot VA-X4 is projected to have speeds up to 200mph, a range over 100 miles, near silent when in flight, zero operating emissions and low cost per passenger mile. The VA-X4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel. Find out more: www.vertical-aerospace.com
About Broadstone Acquisition Corp.
Broadstone Acquisition Corp. (NYSE: BSN) was set up by serial entrepreneurs, operators and investors, Hugh Osmond, Edward Hawkes and Marc Jonas. It was established to combine with a UK/European business with a strong management team, significant growth prospects, and the opportunity to become a market leader in its sector. Broadstone’s executive team has an extensive track record in value creation. The combination of a strong internal team, a network of external resources and the experience of the management team enables us to support rapid, substantial, and lasting growth.
About Marubeni
Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business activities across wide-ranging fields including lifestyle, ICT & real estate business, forest products, food, agri business, chemicals, energy, metals & mineral resources, power business, infrastructure project, aerospace & ship, finance & leasing business, construction, industrial machinery & mobility, and next generation business development. Additionally, the Marubeni Group offers a variety of services, makes internal and external investments, and is involved in resource development throughout all of the above industries.
Vertical Aerospace - Nepean
Gavin Davis - This email address is being protected from spambots. You need JavaScript enabled to view it.
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Targeting Internet of Things Sensing Networks, NevadaNano will show the Mini Flammable in booth #733 at Sensors Converge this week, September 21 through 23.
RENO, Nev.--(BUSINESS WIRE)--#MPS--NevadaNano, the world’s leading gas detection sensor technology innovator, today announced the “MPS™ Mini” a miniaturized version of the highly popular Molecular Property Spectrometer™ (MPS™) Flammable Gas Sensor. The new sensor is the world’s most accurate hydrocarbon sensor in its class and eliminates the need for maintenance during its 10+year lifetime. The sensor will debut this week at Sensors Converge in Booth #733.
“We have extended our market-leading reliability, accuracy, and lifetime with enhanced algorithms which extends our market-leading position of detecting 19 of the most common combustible gases found in residential, commercial, and other general use environments,” said Ralph Whitten, President, and Member of the Board of Directors, at NevadaNano. “This new product in a lower cost package specifically targets IoT and high volume applications. This enables our customers to set new standards in connected gas sensors and helps companies create safer working environments in industrial, commercial and consumer applications.”
The newest addition to NevadaNano’s MPS product family, the MPS Mini Flammable gas sensor measures the thermodynamic properties of the air-gas mix and accurately reports 0-100% LEL across 19 flammable gases without the need for field calibration. This performance meets the need for flexible sensor platforms in a wide range of non-industrial applications and makes it ideal for residential and commercial applications like smart meters and IoT devices. In essence, the Mini Flammable creates safer environments for people and their surrounding communities.
Integrated, real-time measurements and built-in compensation for temperature, pressure, and humidity enhance the accuracy of all NevadaNano’s MPS flammable gas sensors. Gas concentration readings are accurate across the entire environmental range, including rapid environmental transients, delivering best-in-class accuracy. The Mini Flammable, like all MPS sensors, is inherently immune to drift, decay, or poison.
For more information, contact NevadaNano at This email address is being protected from spambots. You need JavaScript enabled to view it..
About NevadaNano
NevadaNano's programmable, multi-gas detection technology is the first new approach to flammable gas detection in over 40 years. The MPS technology was developed with DARPA, the DOD, and the Department of Homeland Security for the most challenging gas detection applications and is the winner of the coveted R&D100 award and the Tech Connect National Innovation award. The sensors utilize 26 patented inventions to tackle the toughest chemical analysis tasks. For information, visit NevadaNano.com or connect on LinkedIn.
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Phyllis Grabot, 805.341.7269, This email address is being protected from spambots. You need JavaScript enabled to view it.
Bonnie Quintanilla, 818.681.5777, This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Global Digital Oilfield Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
The digital oilfield market is poised to grow by $5.00 bn during 2021-2025, progressing at a CAGR of over 3%
The market is driven by rise in rig count, drilling activities in remote areas, and increasing complexities of refineries
The report on the digital oilfield market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The digital oilfield market analysis includes the technology segment and geographic landscape.
This study identifies the increasing applications of digital oilfields as one of the prime reasons driving the digital oilfield market growth during the next few years. Also, the advent of big data analytics and 4D seismic survey technology will lead to sizable demand in the market.
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading digital oilfield market vendors that include ABB Ltd., Emerson Electric Co., General Electric Co., Halliburton Co., Honeywell International Inc., Rockwell Automation Inc., Schlumberger Ltd., Schneider Electric SE, Siemens AG, and Weatherford International Plc.
Also, the digital oilfield market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Technology
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
For more information about this report visit https://www.researchandmarkets.com/r/s61bkk
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ORLANDO, Fla.--(BUSINESS WIRE)--Siemens Energy announced today that it will provide four static synchronous compensator (STATCOM) installations for LS Power Grid California, LLC (LS Power) substation projects in California. A STATCOM is a quick-reacting system capable of providing or absorbing reactive power to regulate the voltage at the point of connection to a power grid. This voltage regulation will be key to ensuring the reliability of the power grid as renewable energy sources are brought online, enabling further decarbonization of California’s energy mix.
With the retirement of Pacific Gas and Electric Co.’s (PG&E) Diablo Canyon nuclear power plant in 2025, it is expected that there will be greater sensitivity to voltage instability, especially as PG&E integrates more renewable generation onto the grid. Two of the STATCOM systems are to be installed at LS Power’s Orchard substation connecting to the existing PG&E Gates 500 kilovolt (kV) substation in Fresno County to provide 848 megavolt-ampere (MVAr) of dynamic reactive power support. Under the light-load conditions, this support is anticipated to mitigate high voltages during extreme contingencies on the Bulk Power System.
The other two STATCOMs will be installed at LS Power’s new Fern Road substation connecting the Round Mountain to Table Mountain 500 kV transmission lines. The purpose of these systems will be for voltage control and voltage support in case of system events and transmission outages.
“We are proud to partner with LS Power on this project,” said Matt Neal, vice president of Transmission Solutions for Siemens Energy. “LS Power has a forward-looking strategy to help ensure grid stability as more and more renewable power sources are part of the generation mix. When it comes to decarbonizing our energy systems, this will be one of the most important flexible AC transmission projects in the U.S., both in terms of the power and voltage rating, as well as the challenging location from a seismic perspective. We’re proud to support California’s efforts to incorporate more renewable energy sources into the power generation mix in a way that is not only efficient, but reliable in all weather conditions.”
PG&E will replace the Diablo Canyon plant exclusively with energy sources that don’t emit CO2. The company has also promised to source 55% of its total electricity from the sun, wind, and other renewable energy sources by 2031.
This press release is available at www.siemens‑energy.com/press
Follow us on Twitter at: www.twitter.com/siemens_energy
Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020. www.siemens-energy.com.
Stacia Licona
Phone: +1 281-721-3402
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ABERDEEN, Scotland--(BUSINESS WIRE)--KNOT Offshore Partners LP (the “Partnership”) (NYSE: KNOP) announced today that the Partnership will host a virtual Investor Day on Wednesday, October 6, 2021, starting at 10:00 am EST.
During the event, which will be webcast live, the Partnership and its sponsor, Knutsen NYK Offshore Tankers AS, alongside leading third-party experts will provide an overview of the shuttle tanker business, give an update on the shuttle tanker market, and outline the supportive fundamentals that continue to underpin the Partnership’s leading market position and future growth expectations. This will be followed by a Q&A session.
In order to access the live video webcast, or to view an archived replay, please Pre-Register Here or visit the Investor Relations section of the Partnership’s website, http://www.knotoffshorepartners.com/. Please allow extra time prior to the call to visit the site and download any necessary software that may be needed to access the Internet broadcast.
About KNOT Offshore Partners LP
KNOT Offshore Partners LP owns, operates and acquires shuttle tankers under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol “KNOP”.
KNOT Offshore Partners LP
Gary Chapman
Chief Executive Officer and Chief Financial Officer
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +44 1224 618 420
Independent Research Firm uncovers that significant events would need to happen for organizations to elevate the importance of third-party cyber risk mitigation strategies
DENVER--(BUSINESS WIRE)--CyberGRX, provider of the world’s first and largest global risk exchange, today announced the results of their commissioned study on how organizations prioritize third-party risk. Conducted by Forrester Consulting, the research comprises surveys from 319 respondents in IT, security, and risk roles covering technology, retail, oil and gas, healthcare, financial services, and other highly regulated industries. The study highlights that while organizations recognize third-party threats expose them to great risk, many organizations fail to take adequate measures to mitigate it. In fact, while they grapple with third-party cyber risk management (TPCRM), the weak points in their current mitigation strategies exacerbate the threat of cyber incidents.
The Forrester study, Why Isn’t Your Organization Prioritizing Third-Party Risk?, identifies four major themes:
“Organizations that fail to take thoughtful steps to monitor, defend, and prepare for third-party cyber incidents have undermined their entire cybersecurity posture,” said Dave Stapleton, CISO, of CyberGRX. “As the Forrester study highlights, many organizations recognize the hazards posed by third parties; however, their actions do not reflect effective mitigation. Lacking a defined TPCRM strategy creates the opportunity for a breach, even if internal risk management strategies are otherwise solid and effective.”
To improve third-party cyber risk practices, organizations must consider vendors as an extension of their own brand, and set a strict baseline and expectations for their cyber maturity. Companies should leverage data and automation to ensure that their entire supply chain will meet the outlined cyber requirements. Additionally, it is imperative to continuously monitor the changing cyber risk of vendors. As new attack vectors are unleashed, a vendor’s security posture can be rapidly altered. Finally, constant communication regarding cyber posture and compliance among all parties involved is critical and security training for employees and stakeholders should be mandatory.
CyberGRX’s Chief Information Security Officer, Dave Stapleton, and guest speaker, Forrester principal analyst Renee Murphy will present key findings and recommendations from the research during a webinar on Tuesday, October 12 at 2:00 pm EDT. To learn more:
Register for the webinar
Download the full report
About CyberGRX
CyberGRX is on a mission to modernize third-party cyber risk management. Built on the market’s first and largest third-party cyber risk exchange, CyberGRX's dynamic and scalable approach is innovating TPCRM for enterprises and third parties. Armed with fast and accurate data and a proven and innovative approach, CyberGRX customers make rapid, informed decisions and confidently engage with partners. Based in Denver, CO, CyberGRX was designed with partners including Aetna, Blackstone and MassMutual.
Media Contacts
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LaunchTech Communications
443-977-9638
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KENNESAW, Ga.--(BUSINESS WIRE)--The Florida Board of Education announced the post-secondary school Career and Professional Education (CAPE) funding list for the 2021/2022 academic year this August. That list now includes Yamaha Marine University’s Maintenance Certifications, a first among marine outboard manufacturers and a strong incentive for technical schools to offer Yamaha outboard training courses to students.
“Yamaha remains focused on developing qualified, workforce-ready marine technicians to help dealerships build profitable, efficient service departments. A key component of this effort is training and education,” said Gregg Snyder, Marine Training Department Manager, Yamaha U.S. Marine Business Unit. “The inclusion of Yamaha Maintenance Certifications on the CAPE funding list further encourages post-secondary schools in the state of Florida to incorporate marine technician education into their curriculum. Aspiring technicians who complete and pass exams to earn four separate Yamaha Marine Maintenance Certifications will enter the marine industry workforce with the skills and confidence they need to build successful careers. Making this list is a win for students, Yamaha Technical School Partners and Yamaha dealers.”
Florida’s CAPE program fosters a statewide planning partnership between business and education communities to attract, expand and retain targeted, high-value industry for the state. The post-secondary education funding incentivizes schools to offer curriculum that can result in industry-recognized certifications students can earn to secure high-wage, high-demand careers. Once registered students earn a recognized certification, the school receives a performance award from the state to put toward the further development of workforce-ready courses.
The recognition of Yamaha Maintenance Certifications on the CAPE funding list is particularly beneficial for Yamaha Technical School Partners (TSPs) in Florida. Current and aspiring marine technicians can earn four distinct Yamaha Maintenance Certifications: Portable, Midrange, Inline (4 cylinder) and V-engine. TSPs can choose which modules to offer based on the needs of the market in their area. Many Yamaha Technical School Partners use the Maintenance Certification Program in their curriculum to build student proficiency in conducting 20-, 100-, 300-, 500- and 1,000-hour service procedures. Yamaha recommends technicians complete Introduction to Outboard Systems (ITOS) before they complete Yamaha Marine Maintenance Certification exams. Yamaha TSPs throughout Florida currently offer the ITOS curriculum.
“Yamaha continues to implement in-demand, career-enhancing certifications and curriculum for the marine industry to help aspiring technicians prepare for and realize success,” said Jack Seubert, Dean of Marine Science and Technology, The College of the Florida Keys (CFK). “Savvy dealers are more likely to actively recruit marine technicians with recognized certifications, such as the four Yamaha Maintenance Certifications that CFK currently offers.
“In an indirect way, the inclusion of Yamaha certifications on the CAPE list is also a great way for our institution to recruit,” he continued. “When prospective students see we offer the marine courses that include training to prepare students to earn these certifications, and that the technicians who earn them are in high demand for top-paying jobs, they are more likely to enroll. Couple that with the state funding the school can earn from each recorded certification and you’ve got a win-win situation.”
The Yamaha service and government relations teams worked together in the effort to gain CAPE funding list placement. To meet the Florida Board of Education qualifications, Yamaha worked with TSPs in Florida to recognize Marine Engine Repair as a formal state occupation.
“The path to CAPE funding presented an excellent learning experience for Yamaha,” said Martin Peters, Division Manager, Government Relations, Yamaha U.S. Marine Business Unit. “The approval of Yamaha Maintenance Certification on this list represents the hard work of two departments working toward the same goal of increasing qualified technicians in the workforce. It’s an achievement we hope to duplicate with similar programs in other states.”
For more information about Yamaha Maintenance Certifications or to locate exam locations and times, please visit ymucertifications.com. To learn more about Technical School Partnerships or training programs offered through Yamaha Marine University, please call (800)-854-4876 opt. 3 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
The 2021/2022 Florida CAPE funding list is available here: https://www.fldoe.org/academics/career-adult-edu/cape-postsecondary/cape-post-industry-cert-funding-list-current.stml.
Yamaha Marine products are marketed throughout the United States and around the world. Yamaha Marine U.S. Business Unit, based in Kennesaw, Ga., supports its 2,400 U.S. dealers and boat builders with marketing, training and parts for Yamaha’s full line of products and strives to be the industry leader in reliability, technology and customer service. Yamaha Marine is the only outboard brand to have earned NMMA®’s C.S.I. Customer Satisfaction Index award every year since its inception.
REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear. Messaging and data rates may apply.
® 2021 Yamaha Motor Corporation, U.S.A. All rights reserved.
This document contains many of Yamaha’s valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement.
Brad Massey
Communications Manager
Yamaha Marine Engine Systems
Office: (770) 701-3294
Mobile: (470) 277-9024
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Key figures analyze Arctic’s global strategic value, multibillion dollar investment potential
NEW YORK--(BUSINESS WIRE)--#AI--The real assets news site Investable Universe announces the launch of Polar Futures, a media series that examines the eight-nation Arctic region’s growing geopolitical importance and its potential for attracting hundreds of billions of dollars in direct investment to develop the region and its bounty of natural resources.
Institutional investors, pension funds and other investors are eyeing the potential of developing infrastructure, shipping, logistics, telecommunications, mining, aquaculture and marine resources and of incubating technologies that aid the transition to renewable energy.
Additionally, new trans-Arctic shipping lanes made more accessible by climate change will focus competing political and military interests on the polar zone.
Nuanced insights from pivotal figures
Against this fluid strategic backdrop, the weekly newsletter and podcast series, curated by editor-in-chief Rebecca Engmann Darst, will feature interviews with pivotal figures in the Arctic discourse, including:
The series also will include insights about the roles of Canada, Finland, Norway, Russia and Sweden in the rapidly evolving Arctic zone.
Subscribers will gain exclusive access to nuanced transnational views of the polar investment and geopolitical landscape through a weekly newsletter and podcast interviews with guests from across the diplomatic, media and entrepreneurial spectrum.
Will globalization and climate change spur great-power rivalry in the Arctic?
Noting that research from the Council on Foreign Relations examined the Arctic as a potential site for “the return of great-power rivalry”[1] amid the challenges of globalization and climate change, Darst believes that the Arctic North will be the nexus of a number of conflicts and opportunities in the twenty-first century.
“The polar region’s strategic value is hard to overstate. It holds vast natural and mineral resources and is developing new and high-tech industries in parallel to those riches. Yet in the region, there’s also an intricate tapestry of historical and cultural factors that are rarely discussed on a global level. We will delve unflinchingly into all of them in the newsletter and podcast,” says Darst.
Subscribe to the Polar Futures newsletter and podcast bundle at www.investableuniverse.com/polarfutures.
About Investable Universe
Trofast Media’s Investable Universe provides leading edge insights into investment in real assets, the global “market of things” that spans traditional investments and emerging technologies on earth and in space.
Learn more at InvestableUniverse.com.
[1] https://www.cfr.org/in-brief/whats-stake-rising-competition-arctic
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