AUSTIN, Texas--(BUSINESS WIRE)--Tesla, Inc. today announced updates to its 2021 Annual Meeting of Stockholders (the “2021 Annual Meeting”). The following updates supersede anything to the contrary described in Tesla’s updated definitive proxy statement filed with the U.S. Securities and Exchange Commission on August 26, 2021.
The 2021 Annual Meeting will be presented from Tesla’s Gigafactory in Austin, Texas on Thursday, October 7, 2021, at 4:30 p.m. Central Time in a virtual-only format as described below.
Virtual Meeting Format
Live video webcasts of the 2021 Annual Meeting event will be accessible to the general public at www.tesla.com/2021shareholdermeeting. This webcast will also be available for replay for approximately one year thereafter.
To accommodate ongoing public health requirements and travel considerations, Tesla is providing any stockholder as of August 9, 2021 the means to join the 2021 Annual Meeting virtually at https://meetnow.global/MVA22YQ. The virtual meeting will feature live audio webcasts, plus the option for stockholders to submit votes and written comments and questions on meeting agenda items. In light of the number of business items on this year’s agenda and the need to conclude the meeting within a reasonable period of time, we cannot ensure that every stockholder who wishes to have a question or comment addressed during the meeting will be able to do so. In order to join the virtual meeting, you will need a 15-digit secure “control number” unique to you, which you may obtain as follows:
The virtual meeting will begin promptly at 4:30 p.m. Central Time. We encourage you to access the meeting prior to the start time leaving ample time for log-in.
Other Information
All stockholders are encouraged to vote and submit their proxies in advance of the 2021 Annual Meeting by one of the methods described in the proxy materials. Proxy cards, voting instruction forms and Notices of Internet Availability for the 2021 Annual Meeting scheduled for October 7, 2021 that were previously distributed will not be updated to reflect the change in meeting format, and may continue to be used to vote shares in connection with the 2021 Annual Meeting.
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BROOKLYN HEIGHTS, Ohio--(BUSINESS WIRE)--GrafTech International Ltd. (NYSE:EAF), a leading manufacturer of high-quality graphite electrode products essential to the production of electric arc furnace steel, announced today the publication of its second annual Sustainability Report. GrafTech’s 2020 Sustainability Report highlights the company’s annual environmental, social, and governance (ESG) performance and initiatives.
David Rintoul, GrafTech’s President and Chief Executive Officer, commented, “I am pleased to present GrafTech’s second annual Sustainability Report. We are proud of the progress we made across the organization during the past year and value the opportunity to share these developments with you. We are fully committed to advancing our ESG efforts across the global organization and in the communities where we operate.”
Highlights of GrafTech’s 2020 Sustainability Report include:
GrafTech’s digital 2020 Sustainability Report is available on our website at http://www.graftech.com/sustainability. We welcome feedback on our Sustainability Report at This email address is being protected from spambots. You need JavaScript enabled to view it..
About GrafTech
GrafTech International Ltd. is a leading manufacturer of high-quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. The Company has a competitive portfolio of low-cost, ultra-high power graphite electrode manufacturing facilities, including three of the highest capacity facilities in the world. We are the only large-scale graphite electrode producer that is substantially vertically integrated into petroleum needle coke, a key raw material for graphite electrode manufacturing. This unique position provides us with competitive advantages in product quality and cost.
Forward-looking statements
Statements in this press release regarding the Company that are not historical facts may be “forward-looking statements” that involve risks and uncertainties. You can identify these forward-looking statements by the use of forward-looking words such as “will,” “may,” “plan,” “estimate,” “project,” “believe,” “anticipate,” “expect,” “foresee,” “intend,” “should,” “would,” “could,” “target,” “goal,” “continue to,” “positioned to,” “are confident,” or the negative versions of those words or other comparable words. Certain of the risks and uncertainties to which the Company is subject are described in the “Forward Looking Statements” and “Risk Factors” in reports and statements filed by the Company with the U.S. Securities and Exchange Commission. These risks include, without limitation, the ultimate impact that the COVID-19 pandemic has on our business, results of operations, financial condition and cash flows; the possibility that we may be unable to implement our business strategies in an effective manner; the possibility that our manufacturing operations are subject to hazards; changes in, or more stringent enforcement of, health, safety and environmental regulations applicable to our manufacturing operations and facilities; and our dependence on third parties for certain construction, maintenance, engineering, transportation, warehousing and logistics services. The Company does not undertake any obligation to update or revise these forward-looking statements to reflect new events or circumstances except as required by law.
Wendy Watson
216-676-2600
LONDON & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, announced that it plans to launch a new freight futures contract based on the Baltic Exchange’s liquid petroleum gas (LPG) assessment for the Houston to Chiba route on September 27.
The contract, called the LPG (BLPG3) Forward Freight Agreement (FFA) Houston To Chiba (Baltic) future, will be cash settled and allow participants to manage freight price risk on one of the top export routes for liquid petroleum gas. The U.S. is one of the world’s top producers and leading exporters of LPG and Asia is one of the largest demand centers for the fuel. Freight rates from Houston to Chiba have fluctuated between $45.75 and $182.40 per ton since the Baltic Exchange began reporting on the route in April 2020*.
“Hedging the U.S. Gulf Coast to Japan export route has become ever more critical for our customers,” said J.C. Kneale, Vice President, North American Gas and Power, at ICE. “ICE’s natural gas liquid markets are growing strongly, with open interest out to 2024. With the new LPG freight contract, we are helping our customers to further manage their entire portfolio of exposure for LPGs from production to shipping to consumption.”
The new BLPG3 contract will trade alongside ICE’s existing LPG freight future based on the Baltic Exchange’s assessment for the Middle East to Japan route (ICE: WAT).
*Source: Baltic Exchange
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
ICE- CORP
Source: Intercontinental Exchange
ICE Media Contact:
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ICE Investor Contact:
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(770) 738-2151
Edison partners with the state and others in working to reduce emissions across all sectors of the economy
ROSEMEAD, Calif.--(BUSINESS WIRE)--For California to meet its 2030 (and 2045) decarbonization goals, it must quadruple its annual rate of greenhouse gas reductions by adopting market-transforming policies within the next one to two years. This is according to “Mind the Gap: Policies for California’s Countdown to 2030,” a new paper published by Edison International.
“California is already experiencing the accelerating and compounding effects of climate change,” said Pedro J. Pizarro, president and CEO of Edison International. “Not only must public policy address the uncertainty and risk inherent in climate change, it must be reframed to redress historical, present and future inequities, such as the greater impact climate change is having on low-income residents and communities of color. This has significant implications for planning, funding needs, funding mechanisms and program and project execution. At Edison, we will continue working in partnership with the state and federal governments and with other stakeholders, including the communities we serve, to advance policies.”
Previous papers from Southern California Edison, Edison International’s utility subsidiary, identified an achievable and affordable route to realize California's 2030 and 2045 greenhouse gas reduction goals by dramatically increasing renewable energy and storage, using that clean energy to electrify other sectors like transportation and buildings, employing low-carbon fuels like clean hydrogen for hard-to-electrify applications and using carbon capture.
“Mind the Gap: Policies for California’s Countdown to 2030” is Edison International’s analysis of the policy changes and additions needed to ensure that California meets its 2030 greenhouse gas (GHG) reduction goal — a reduction vital for the state to ultimately achieve its goal to decarbonize its economy by 2045.
California has been reducing GHG emissions by an average of 1% per year since 2005, which is notable given California’s economy has grown 3% per year over the same period. To meet its 2030 goal, however, the reduction must rise to 4.1% each year through 2030. The reductions resulting from current policies, even if successfully implemented, will fall short of the 2030 target by about 30 million metric tons.
“Our paper discusses where the state has made progress and which additional actions are needed now to meet California’s 2030 goals,” said Pizarro. “We provide specific state and federal policy recommendations for closing the gaps in critical areas: decarbonizing the power supply; preparing the grid for shifts in usage and increasing demands; and efficiently electrifying transportation and buildings.”
“The electric sector has made significant progress in reducing GHG emissions, reducing its share over 40% since 2005,” said Erica Bowman, director of the Edison International CEO’s Office and principal author of the policy paper. “However, decarbonization requires GHG emissions reductions across all sectors of the economy. Federal and state policies are needed to continue the progress of the electric sector and accelerate the electrification of other sectors and to ensure the reliability and resilience of the grid. These include policies that support sufficient transmission infrastructure to interconnect renewable resources as well as adequate distribution infrastructure.”
In contrast, GHG emissions from the transportation sector have been increasing since 2013 and remain California’s biggest decarbonization challenge. While electric vehicle (EV) sales in California have outpaced the national average and trends point to increasingly favorable economics for electric vehicles, additional incentives for EV purchases and charging infrastructure will be needed. On the current trajectory, California will fall short by 60% for transportation electrification and more than 50% for residential building electrification in 2030.
Most building decarbonization assessments confirm the electrification of buildings represents a significant, cost-effective opportunity to reduce GHG emissions both in the near and long terms. Edison International’s internal analysis concludes that the current trajectory of programs and policies supporting building electrification is insufficient to achieve California's GHG emissions target.
“There is also a crucial role for the federal government to play, especially in helping create functioning markets that support the affordable electrification of key sectors,” Bowman added. “Substantial capital must be deployed throughout the country if the U.S. is going to meet the Nationally Determined Contribution goal of 50%-52% economywide emission reductions by 2030.”
The decarbonization actions needed for California to meet its 2030 goals are no exception to this capital need. Additionally, these capital investments in renewable electricity, efficient buildings and electric vehicles offset substantial annual fossil fuels and maintenance costs.
“We believe the role of utility companies is to work in close partnership with our state’s policymakers and regulatory bodies to develop and implement the necessary structures and conditions to support the successful, equitable and affordable transition to a clean-energy economy,” Pizarro said. “This will require greater funding, improving, clarifying and harmonizing goals, standards, planning and approaches to how the transition takes place and how quickly.”
“Mind the Gap: Policies for California’s Countdown to 2030” is available at edison.com/MindtheGap.
About Edison International
Edison International (NYSE: EIX) is one of the nation’s largest electric utility holding companies, providing clean and reliable energy and energy services through its independent companies. Headquartered in Rosemead, California, Edison International is the parent company of Southern California Edison Company, a utility that delivers electricity to 15 million people across Southern, Central and Coastal California. Edison International is also the parent company of Edison Energy, a global energy advisory company delivering comprehensive, data-driven energy solutions to commercial and industrial users to meet their cost, sustainability and risk goals.
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NEEDHAM, Mass.--(BUSINESS WIRE)--#3rdPlatform--International Data Corporation (IDC) recently published a series of 3rd Platform Industry Spending Guides that provide in-depth forecasts for technology spending. The guides cover nine industries – banking, government, healthcare, insurance, manufacturing, oil and gas, retail, securities and investment services, and utilities – with detailed spending projections for 3rd Platform technologies (mobility, cloud, big data and analytics (BDA), and social) and Innovation Accelerators (artificial intelligence (AI), augmented reality/virtual reality (AR/VR), 3D printing, Internet of Things (IoT), security, and robotics) as well as traditional, 2nd Platform technologies.
"While IT spending is contracting in some areas, spending on 3rd Platform technologies will see double-digit growth throughout the post-COVID recovery period," said Karen Massey, research manager, Customer Insights & Analysis. "However, the investment priorities are somewhat varied across industries. The financial services sector, which includes the banking, securities and investment services, and insurance industries, relies more heavily on cloud, mobility, and big data and analytics, for example. But the Internet of Things (IoT) is the primary investment focus in the other six industries, especially manufacturing, oil and gas, and utilities."
3rd Platform technologies will become the largest area of technology investment in the banking industry by 2022 with cloud and mobility accounting for 30% or more of all industry spending throughout the forecast. With a compound annual growth rate (CAGR) of 11.5%, spending on big data and analytics will nearly equal mobility by the end of the forecast while cloud spending takes on more prominence with a five-year CAGR of 16.2%. Consumer banking will remain the largest sub-industry, accounting for more than half of all technology spending by the industry throughout the forecast.
The insurance and securities and investment services industries will follow a similar spending trajectory as banking with cloud and mobility investments leading the way, followed closely by big data and analytics. Both industries will also see similar levels of investment in next-generation security and AI systems. One area where the two industries diverge is IoT spending, which will be notably higher for the insurance industry, led by the property & casualty sub-industry.
"In response to the need for resiliency and scalability in financial services operations, our research has shown accelerated growth in spending on infrastructure technologies like cloud and security, and in business areas like digital banking, risk management in insurance, and analytics in the capital markets industry," said Jerry Silva, program vice president, IDC Financial Insights. "And because many areas in financial institutions are limiting budgets in the face of an uncertain lending environment, investments in as-a-Service cloud solutions and platforms will increase their share of the IT dollar."
The manufacturing industry will deliver the largest investments in 3rd Platform technologies with spending growing to more than $800 billion in 2024. IoT will be the largest area of investment, accounting for more than 30% of the industry's IT spending throughout the forecast. Robotics will be the second largest area of spending with strong investments from the automotive, consumer packaged goods (CPG), and aerospace and defense sub-industries. Robotics and AI systems will see some of the fastest spending growth with a five-year CAGRs of 19.2% and 19.9%, respectively.
IoT will also be the largest area of investment in both the utilities and the oil and gas industries as they increase their use of sensors in smart meters and for distribution automation. Cloud and mobility will see similar levels of investment at the beginning of the forecast, but cloud will benefit from significantly stronger spending growth throughout the forecast in both industries. Robotics will also overtake both cloud and mobility by the end of the forecast to become the second largest area of investment in the oil and gas industry.
In retail, IoT investments will account for nearly a quarter of all technology spending as organizations focus on omni-channel operations. Cloud and mobility will account for another quarter of all retail spending while AR/VR, robotics, and AI systems will see the fastest spending growth as companies invest in customer experience and automation. For general merchandise retailers like Walmart and Target, cloud is the top spending priority while the food store sub-industry will focus more of its spending on IoT along with cloud and mobility.
IoT is also the largest area of spending within the healthcare industry, where providers (hospitals, physician clinics, and other providers) are utilizing remote sensors for bedside telemetry, asset tracking, and remote health monitoring. Mobility and cloud will be the next largest areas of spending with cloud forecast to grow at a notably faster rate (14.0% CAGR). Investments in AI systems and robotics will also experience strong growth over the course of the forecast with five-year CAGRs of 21.0% and 16.8% respectively.
Government spending on 3rd Platform technologies is forecast to grow to nearly $300 billion by 2024 with a CAGR of 11.6%. IoT will be the largest area of spending, accounting for more than one third of all 3rd Platform investments as governments at all levels invest in public safety and emergency response programs, public infrastructure asset management, and intelligent transportation systems. Mobility and cloud will be the next largest areas of investment with cloud spending overtaking mobility by the end of the forecast with a five-year CAGR of 12.9%. AR/VR and AI systems will see the fastest spending growth with CAGRs of 84.0% and 25.8% respectively.
IDC's 3rd Platform Industry Spending Guides provide an in-depth industry market forecast for 3rd Platform (mobility, cloud, big data and analytics, and social) and Innovation Accelerators (artificial intelligence, augmented reality/virtual reality, 3D printing, Internet of Things, security, and robotics) technologies as well as spending data for hardware, software, and IT services, plus two delivery types (cloud and non-cloud), across nine geographic regions and 64 sub-industries and lines of business. The guides remove duplicative spending (overlap or double counting) that is inherent to individual technology forecasts, thereby offering a wholistic industry and subindustry/line-of business forecast for emerging technology markets. This version (V1 2021) of the Spending Guides incorporates updated assumptions for political, economic, and pandemic impacts across all technology and industry markets.
About IDC Spending Guides
IDC's Spending Guides provide a granular view of key technology markets from a regional, vertical industry, use case, buyer, and technology perspective. The spending guides are delivered via pivot table format or custom query tool, allowing the user to easily extract meaningful information about each market by viewing data trends and relationships.
For more information about IDC's Spending Guides, please contact Monika Kumar at This email address is being protected from spambots. You need JavaScript enabled to view it..
Click here to learn about IDC's full suite of data products and how you can leverage them to grow your business.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.
Michael Shirer
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508-935-4200
Magnolia Intention to Purchase 3,000,000 Shares of Class B Common Stock from EnerVest
HOUSTON--(BUSINESS WIRE)--Magnolia Oil & Gas Corporation (NYSE: MGY) (“Magnolia” or the “Company”), today announced the proposed underwritten block trade (the “Offering”) of 7,500,000 shares of the Company’s Class A common stock (the “Class A Common Stock”) by certain affiliates of EnerVest, Ltd. (the “Selling Stockholders”). The shares will be offered from time to time for sale through negotiated transactions or otherwise at market prices prevailing at the time of sale. Magnolia will not sell any shares of its Class A Common Stock in the Offering and will not receive any proceeds from the sale by the Selling Stockholders of shares of Class A Common Stock.
In connection with the Offering, the Company intends to purchase from the Selling Stockholders 3,000,000 shares of the Company’s Class B common stock at a price per share equal to the price per share at which the underwriter purchases shares of the Company’s Class A Common Stock in the Offering (the “Class B Common Stock Purchase”). The Offering is not conditioned upon the completion of the Class B Common Stock Purchase, but the Class B Common Stock Purchase is conditioned upon the completion of the Offering.
Following the closing of the Offering and Class B Common Stock Purchase, the Selling Stockholders will own 20,112,444 Class A and 52,915,438 Class B shares of the Company, or approximately 31.5% of the total outstanding shares of the Company.
J.P. Morgan Securities LLC is acting as the sole book-running manager for the offering. The Offering is being made pursuant to an effective shelf registration statement, which has been filed with the Securities and Exchange Commission (the “SEC”) and became effective August 30, 2018. The Offering will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus, copies of which may be obtained on the SEC’s website at www.sec.gov. Alternatively, the underwriter will arrange to send you the preliminary prospectus supplement and related base prospectus if you request them by contacting:
J.P. Morgan Securities LLC
Attention: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions
1155 Long Island Avenue, Edgewood, NY 11717
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Phone at 1-866-803-9204
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Magnolia Oil & Gas Corporation
Magnolia (MGY) is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders through steady production growth, strong pre-tax margins, and free cash flow. For more information, visit www.magnoliaoilgas.com.
Forward-Looking Statements
The information in this press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Magnolia’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, the words could, should, will, may, believe, anticipate, intend, estimate, expect, project, the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Magnolia disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Magnolia cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Magnolia, incident to the development, production, gathering and sale of oil, natural gas and natural gas liquids. In addition, Magnolia cautions you that the forward looking statements contained in this press release are subject to the following factors: (i) the length, scope and severity of the ongoing coronavirus disease 2019 (“COVID-19”) pandemic, including the effects of related public health concerns and the impact of continued actions taken by governmental authorities and other third parties in response to the pandemic and its impact on commodity prices as well as supply and demand considerations; (ii) the outcome of any legal proceedings that may be instituted against Magnolia; (iii) Magnolia’s ability to realize the anticipated benefits of its acquisitions, which may be affected by, among other things, competition and the ability of Magnolia to grow and manage growth profitably; (iv) changes in applicable laws or regulations; and (v) the possibility that Magnolia may be adversely affected by other economic, business, and/or competitive factors. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in Magnolia’s filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020. Magnolia’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
Investors
Brian Corales
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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
HALIFAX, Nova Scotia--(BUSINESS WIRE)--Emera Incorporated (“Emera” or the “Company”) (TSX:EMA) announced today that it has completed its bought deal offering of 9,000,000 Cumulative Redeemable First Preferred Shares, Series L (the “Series L Preferred Shares”) at a price of $25.00 per share for aggregate gross proceeds of $225,000,000. The syndicate of underwriters was led by TD Securities Inc. and CIBC Capital Markets as joint bookrunners, and also included RBC Capital Markets, Scotiabank, BMO Capital Markets and National Bank Financial Inc. The Series L Preferred Shares will be listed on the Toronto Stock Exchange under the symbol EMA.PR.L. The net proceeds of the offering will be used for general corporate purposes.
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This media release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer, solicitation or sale of the securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward Looking Information
This news release contains forward‐looking information within the meaning of applicable securities laws. including statements concerning Emera’s intended use of the net proceeds of the offering of preferred shares. Undue reliance should not be placed on this forward‐looking information, which applies only as of the date hereof. By its nature, forward‐looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management’s current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward‐looking information will not prove to be accurate, that Emera’s assumptions may not be correct and that actual results may differ materially from such forward‐looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, including under the heading “Enterprise Risk and Risk Management” in Emera’s annual Management’s Discussion and Analysis, and under the heading “Principal Financial Risks and Uncertainties” in the notes to Emera’s annual financial statements, copies of which are available electronically under Emera’s profile on SEDAR at www.sedar.com.
About Emera
Emera is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The Company primarily invests in electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H and EMA.PR.J. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional Information can be accessed at www.emera.com or at www.sedar.com.
Emera Inc.
Investor Relations:
Dave Bezanson, VP, Investor Relations & Pensions
902‐474‐2126
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SAN ANTONIO--(BUSINESS WIRE)--Water Energy Services ("WES") announces the acquisition of the FMS Business from Key Energy Services. WES provides water logistic services, fluid containment, oil reclamation, salt water disposal and water recycling in the Eagle Ford Shale and the Permian Basin. The FMS Business includes 32 SWDs, frack tanks, transport vehicles and other equipment located in Texas and New Mexico. The CEO of WES, Nicholas Atkins explained that "With the acquisition of the FMS Business we add significant new assets, customer relationships and seasoned personnel to our workforce and the acquisition gives us a broadly diversified base for providing services to our existing and new customers. With the addition of the FMS Business WES is positioned to proceed with several other OFS businesses we are planning to acquire in the Permian and other locations which will be complementary to our business.”
Key's President and Chief Executive Officer, Marshall Dodson stated, "With the divestiture of our Permian Basin and Gulf Coast FMS line of business, we are well-positioned to focus on our core businesses of well service rigs, fishing and rental and coiled tubing operations in those markets. We will use the sales proceeds to strengthen our financial position and to reinvest in our business as we take advantage of the opportunities in front of us.”
A lifelong entrepreneur, Mr. Atkins has founded, developed and successfully exited numerous businesses in the oil and gas industry while creating shareholder value. He has been committed to cleaning up wastewater and drilling fluids in environmentally friendly ways with minimal impact on the environment. Under his leadership, WES has experienced significant growth and transformation both organically and through the strategic acquisition of oilfield services and green technologies.
WES’s CFO Jamie Downs, COO Grady White and HR Director Stephanie Barr were instrumental in getting the deal done with their vast experience in the oil patch.
Rudy Concha, Mr. Atkins' partner in WES, is the founder and chairman of Security Real Estate Brokerage, a private investment firm focused on building real estate-related businesses in primary markets such as the greater Los Angeles Area. Mr. Concha has built his real estate portfolio valued at over $100,000,000 in land, apartments, industrial buildings, commercial and residential properties with skill and tenacity.
Greg Pierce, Managing Director of Oak Hills Securities, Inc. acted as financial advisor and investment banker to WES, Maynards Capital provided the equipment financing for this transaction and Amerisource Business Capital financed the real estate and working capital portions of the transaction.
WES was represented by Leib Orlanski, K&L Gates LLP, Los Angeles, Key Energy Services was represented by Gibson, Dunn & Crutcher LLP and Womble Bond Dickinson (US) LLP represented Maynards Capital.
Jamie Downs
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DUBLIN--(BUSINESS WIRE)--The "Africa Diesel Generator Market Size, Share & Trends Analysis Report 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The Africa diesel generator market size is expected to reach USD 8.36 billion by 2028. The market is expected to expand at a CAGR of 5.7% from 2021 to 2028.
The rise in demand for these products is being witnessed with the easing of lockdown restrictions in countries in Africa, which will increase the demand for diesel generators from this power range over the forecast period.
Above 3,000 kVA diesel generators are mainly utilized by large-scale industries involved in metal production, food and beverages, mining, and automobile manufacturing. Major vendors such as Mitsubishi Heavy Industries, Ltd. and Caterpillar provide diesel generators in this power rating range which are capable of providing emergency power supply and continuous power supply in case of unexpected power outages.
The banking sector came under the essential category during the pandemic, which resulted in the normal operation of banks in countries of the African region. However, construction of new banks and renovation in existing banks was on hold in the majority of the countries owing to restrictions on construction activities during the pandemic and fund diversion by banks to financially sustain the pandemic.
Diesel generators in tourism sectors are utilized in hotels and resorts. Diesel generators are majorly utilized for providing backup power supply in case of short or longer-duration power outages. However, diesel generators also account to be a source of continuous power supply in tourist places which has no access to grid power. Hotel owners generally opt for diesel generators over other backup power supply options owing to low capital cost and easy availability of diesel.
However, the COVID-19 pandemic has resulted in a reduction in demand from this power range due to the closure of automobile manufacturing, mining, and construction activities as per the mandate of lockdown imposed in various countries.
The rise in demand for medical equipment such as ventilators and necessary medicines has resulted in high demand for diesel generators from the pharmaceutical and medical equipment manufacturing industries.
Additionally, the lifting of lockdown in various countries has resulted in starting of industrial activities which are expected to boost the growth of this power segment over the forecast period.
Africa Diesel Generator Market Report Highlights
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/o9x1o7
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB) today announced that it has received a request for additional information (“second request”) from the United States Federal Trade Commission (“FTC”) in connection with the pending acquisition by a wholly-owned Superior subsidiary of the equity interests of Kamps Propane, Inc., High Country Propane, Inc., Pick Up Propane, Inc., Kiva Energy, Inc., Competitive Capital, Inc. and Propane Construction and Meter Services (collectively, “Kamps”). Kamps has also received a similar second request from the FTC. The second requests were issued under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Act”).
Superior and Kamps have been working cooperatively with the FTC as it conducts its review of the transaction. The second requests are a normal part of the FTC review process. The effect of the second requests is to extend the waiting period imposed by the HSR Act until 30 days after Superior and Kamps have substantially complied with the requests, unless that period is extended voluntarily by the parties or terminated sooner by the FTC.
As a result of the ongoing FTC review, the acquisition of Kamps, which is subject to customary regulatory and commercial closing conditions, is now anticipated to close during the fourth quarter of 2021.
About Superior
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada.
For further information about Superior, please visit our website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).
Forward Looking Information
This news release contains certain forward-looking information and statements that are based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “anticipate”, “extend”, “will”, "expects", and similar expressions.
In particular, this news release contains forward-looking statements and information relating to the anticipated close of the acquisition of Kamps and timing of the close of the acquisition of Kamps. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release, regarding, among other things: that any required commercial agreements can be reached; and that all required regulatory approvals can be obtained on the necessary terms in a timely manner. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; actions by governmental or regulatory authorities; that the acquisition may be modified, restructured, or terminated and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2020, which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.
Beth Summers
Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
or
Rob Dorran
Vice President, Investor Relations and Treasurer
Tel: (416) 340-6003
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Toll Free: 1-866-490-PLUS (7587).
80-Megawatt Behind-The-Meter Facility to Include More Than 231,000 Solar Panels
Expected to Commence Commercial Operation by Next Summer
MIDLOTHIAN, Texas--(BUSINESS WIRE)--174 Power Global, a leading solar energy company, Gerdau Long Steel North America (Gerdau), a leading steel producer, and TotalEnergies, a broad energy company, today announced the beginning of construction of the Midlothian, Texas Gerdau Solar project, one of the largest behind-the-meter (BTM) solar facilities in the U.S.
The 700-acre site, directly adjacent to the Gerdau Midlothian Steel Mill, is comprised of more than 231,000 solar panels and Gerdau’s industry-leading solar beam pilings. The Gerdau Solar project will provide reliable, green power to the Midlothian steel mill, and offset the emissions of more than 13,000 average Texas households. The project will create more than 200 construction jobs and provide numerous benefits to the local community, including generating an estimated $19 million in tax revenue over the next 30 years. The project is expected to reach commercial operation by the summer of 2023.
Gerdau and 174 Power Global previously signed a 20-year Power Purchase Agreement (PPA) agreement for the power generated at the facility, and TotalEnergies is actively participating in the development of the project through a 50/50 joint venture agreement with 174 Power Global.
“Breaking ground at the Gerdau Solar project is an important milestone that expands our solar footprint and brings us one step closer to generating more clean power for Texas,” said 174 Power Global President Henry Yun, PhD. “We are pleased to partner with Gerdau and TotalEnergies as we start construction on one of the largest BTM solar facilities in the nation that will provide environmental and economic benefits to Midlothian.”
“Sustainability is core to Gerdau and our Midlothian facility, and we look forward to using the green energy generated by the Gerdau Solar project to reduce our environmental footprint and bring long-lasting economic benefits to Midlothian,” said Gerdau Long Steel North America President Chia Yuan Wang.
“TotalEnergies is proud to partner with 174 Power Global and Gerdau on one of the largest behind-the-meter solar plant in the U.S. This groundbreaking ceremony is a concrete proof of our common will to bring the energy transition to reality,” said Marc-Antoine Pignon, Managing Director of TotalEnergies Renewables USA. “This project represents our Company’s commitment to continued expansion in the U.S. utility-scale solar market and supports our ambition to achieve multiple gigawatts of gross renewables production capacity in the U.S. by 2025.”
A groundbreaking ceremony was held Thursday afternoon, followed by a reception at Blaine Stone Lodge. Representatives from Midlothian City Council, including Mayor Richard Reno and Councilmember Justin Coffman, and Senator Bryan Hughes Office were in attendance, among others.
About 174 Power Global
174 Power Global is a leading solar and energy storage company that is wholly owned by the Hanwha Group, with offices in NYC and in California. With deep expertise across the full spectrum of the project development cycle, 174 Power Global works closely with utilities, landowners, local communities, financial investors, and other partners to build highly productive, utility scale and C&I solar power plants throughout North America. Since its formation in 2017, 174 Power Global has signed nearly 2 gigawatts (GW) of power purchase agreements and has more than 6 GW of additional projects in the development pipeline. 174 Power Global’s name was inspired by the 174 petawatts (PW) of power the earth receives from the sun at any moment. For more information, visit 174PowerGlobal.com
About Gerdau Long Steel North America
Gerdau Long Steel North America (GLN) manufactures structural steel, piling, rebar, merchant bar, and special bar quality products for the agricultural, automotive, civil construction, distribution, energy, industrial, and mining markets. GLN operates seven mills in the United States and three in Canada, and is a wholly owned subsidiary of Gerdau S.A.
About TotalEnergies
TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables, and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable, and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
TotalEnergies, renewables and electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in renewables and electricity that should account for up to 40% of its sales by 2050. At the end of 2020, TotalEnergies’ gross power generation capacity worldwide was around 12 GW, including 7 GW of renewable energy. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources by 2025, and then 100 GW by 2030 with the objective of being among the world's top 5 in renewable energies.
For media inquiries:
174 Power Global Contacts
Kelly Kimberly
713.822.7538
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Brian Armentrout
281.968.5635
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Gerdau Contact
Adam Parr
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TotalEnergies Contact
Tricia Fuller
281.684.7275
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PARIS--(BUSINESS WIRE)--Regulatory News:
Technip Energies (PARIS:TE) will issue its nine months 2021 financial results on Thursday 21 October 2021 at 07:30 CET. The Company will host a results conference call on the same day at 13:00 CET.
To participate in the conference call, please use one of the following telephone numbers and dial in approximately 10 minutes prior to the scheduled start time:
FR: +33 1 76 70 07 94
UK: +44 (0) 2071 928000
US: +1 631 510 74 95
Conference Code: 8339559
The event will be webcast simultaneously and can be accessed at:
https://edge.media-server.com/mmc/p/uiozr7hx
To listen to the webcast, please register on the website at least 10 minutes before the call begins. The webcast will be available on-demand shortly after it has finished.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.technipenergies.com.
Investor relations
Phil Lindsay
Vice-President Investor Relations
Tel: +44 203 429 3929
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Media relations
Stella Fumey
Director Press Relations & Digital Communications
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TAMPA, Fla.--(BUSINESS WIRE)--The City of Alice, Texas and Seven Seas Water Group, a multi-national provider of Water-as-a-Service® (“WaaS®”) solutions, today announced that they have successfully executed a contract for the construction of a Public-Private Partnership brackish water desalination plant to provide fresh drinking water to the residents of the City of Alice, Texas. This is the first Public-Private Partnership to construct a brackish water treatment plant in the state of Texas. Seven Seas Water Group will finance, design, build, operate and maintain a Brackish Water Reverse Osmosis (BWRO) plant on land owned by the city.
“We are elated to begin construction on this important project with the City of Alice,” said Henry Charrabé, CEO of Seven Seas Water Group. “Our Water-as-a-Service® solution will ensure a reliable and affordable source of water for the city. We are proud to provide a new source of fresh drinking water for the citizens that is effective and cost efficient. This model of a public-private partnership is the blueprint to help resolve the water and wastewater infrastructure challenges and backlog in the United States. We very much look forward to installing our first Texas BWRO plant.”
Alice City Manager Michael Esparza noted, “The Seven Seas Water Group WaaS® approach offers an all-inclusive service package with no upfront capital investment, removing the unnecessary burden on taxpayers. We are pleased with the final contract and the price and solution offered by Seven Seas Water Group to provide clean water for our community.”
“I’m honored to have worked with Seven Seas over the past several years,” stated Representative J.M. Lozano, HD 43. “Their innovative water solutions are critical for our present and future needs. We are truly blessed to have them in our community.”
“We are thrilled that the City of Alice has chosen us to be their long-term partner for this critical public water infrastructure,” said Richard Whiting, VP of Business Development for Seven Seas Water Group. “We sincerely hope that other municipalities will be able to look at this project delivery model as the template for how to marry public and private sector financing to deliver critical infrastructure in a timely and affordable manner.”
Quick Facts:
Less than one year ago, Seven Seas Water Group also announced its acquisition of a 20 MGD conventional water treatment plant system in Panama, serving a population of approximately 420,000 residents. The Seven Seas Water Group’s performance has proven to be strongly resilient, with no material impacts to operations or production of water despite the COVID 19 pandemic. Over the past year, revenues of the Seven Seas Water Group have increased significantly, as the company continues to be the partner of choice in delivering safe, reliable, and efficient water solutions to its customers.
About Seven Seas Water Group
Seven Seas Water Group (www.sevenseaswater.com) is a portfolio company owned by investment funds managed by Morgan Stanley Infrastructure Partners (“MSIP”). Seven Seas Water Group operates two businesses within the water infrastructure space. Seven Seas Water provides water treatment and desalination for governmental and industrial customers in Latin America and the Caribbean. AUC Group (www.aucgroup.net) provides decentralized wastewater treatment plants for industrial and municipal customers in the United States. Seven Seas Water delivers ~18 Bn gallons of clean water annually and operates 11 water treatment plants internationally. The company has more than 140 wastewater treatment plants under lease in the United States with property developers, municipal customers, and utility districts and consistently maintains a +97% plant availability for its customers.
About Morgan Stanley Infrastructure Partners
Morgan Stanley Infrastructure Partners (“MSIP”) is a leading global private infrastructure investment platform. Founded in 2006, MSIP has made over 30 investments across its three flagship, closed-ended funds. Since inception, MSIP has had more than $13 billion in commitments. For further information about Morgan Stanley Infrastructure Partners, please visit www.morganstanley.com/im/infrastructurepartners.
Leslie May
For Seven Seas Water Group
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MLPE leader builds on Tigo Enhanced partnerships to deliver a comprehensive, installer-friendly residential solar-plus-storage solution for the U.S. market.
CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., the solar industry’s worldwide leader in Flex MLPE (Module Level Power Electronics), today announced that the company is taking orders for the Energy Intelligence (EI) Inverter and Battery product lines from residential installers in the United States. These new hardware solutions expand the Tigo product portfolio with a focus on ease-of-installation, more efficient system maintenance and management, and increased flexibility for installers. The new line of EI Battery and Inverter products will allow U.S.-based residential installers to benefit from native integrations of Tigo technology with solar and storage components. The program represents an extension of the Tigo Enhanced commercial and industrial solar partnership program into the residential market.
Tigo Energy has led solar innovation with its TS4 Flex MLPE (Module Level Power Electronics) by providing the freedom for customers to choose the features and components for their solar installations. With almost fifteen years of MLPE leadership in the industry, Tigo is continuing to build its portfolio to provide comprehensive hardware and software solutions for discerning solar and storage installers. The new Tigo EI Battery and Inverter products carry on the Company’s tradition of offering flexibility and choice across global solar markets between 10 kW and 10 MW, including broad compatibility with third-party components.
The new Tigo EI Inverters offer high-efficiency energy conversion for home consumption or export to the grid. When used in combination with Tigo TS4 MLPE products, it provides module-level optimization, monitoring and rapid shutdown, and enables home energy backup when paired with a home energy storage system like the Tigo EI Battery. Available in 7.6 kW and 11.4 kW configurations, the products feature:
The new Tigo Energy Intelligence Battery provides energy bill management for time-of-use rate plans and backup energy in the event of a grid outage. To satisfy a comprehensive array of home energy needs, the EI Battery can be configured for both whole-home and critical load backup. Tigo EI Battery systems are rated at 9.9 kWh of energy per enclosure, with usable capacity of 9.0 kWh, and feature:
The Tigo Energy Intelligence product line allows for maximum flexibility in an integrated system that is easy to install, fast to commission, and convenient to maintain through the Tigo EI mobile app and a browser-based program. The Tigo EI platform provides system diagnosis and over-the-air software upgrades. In addition, energy production is clearly monitored and analyzed for greater visibility and understanding of energy systems. With industry-leading warranties on all hardware, homeowners and installers can continue to rely on product performance and support from Tigo Energy.
“With the addition of the battery and inverter products, we now offer a comprehensive solar-plus-storage system that maintains the flexibility and choice our customers have come to expect from Tigo,” said Zvi Alon, chief executive officer at Tigo Energy. “As with our Flex MLPE products, the new EI Battery and Inverter products provide a very simple installation and commissioning process as well as powerful fleet management features. The end customer, in turn, will benefit from access to an abundance of resilient, renewable, and safe energy with a system that can be precisely tailored for price and performance.”
Over the past 12 months, Tigo released key updates and innovations to its Flex MLPE product line to address the growing demand for high-power solar modules and energy projects that call for a diversified set of fire safety, monitoring, management, and power optimization features. The new product offerings include upgrades of all Tigo TS4 MLPE devices, including those with rapid shutdown with module level monitoring, to serve modules up to 700W and the updated Energy Intelligence (EI) software solution to simplify fleet management for installers.
Installers in the U.S. are encouraged to learn more about Tigo EI products on a webinar scheduled for October 6, 2021, schedule a briefing with Tigo, or place orders.
About Tigo Energy
Tigo Energy is the worldwide leader in Flex MLPE (Module Level Power Electronics) with innovative solutions that increase solar energy production, decrease operating costs, and significantly enhance safety of solar energy systems. The Tigo TS4 platform maximizes the benefit of solar and provides customers with the most scalable, versatile, and reliable MLPE solution available. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy worldwide. Tigo systems operate on seven continents and produce gigawatt hours of reliable, clean, affordable, and safe solar energy daily. With a global team, Tigo Energy is dedicated to making the best MLPE on earth so more people can enjoy the benefits of solar. Find us online at www.tigoenergy.com.
Technica Communications
Gabrielle Reitano
(408) 806-9626 Ext. 9783
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HOUSTON--(BUSINESS WIRE)--Schlumberger Limited (NYSE:SLB) will hold a conference call on October 22, 2021 to discuss the results for the third quarter ending September 30, 2021.
The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time.
To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 8858313.
A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until November 22, 2021, and can be accessed by dialing +1 (866) 207-1041 within North America or +1 (402) 970-0847 outside of North America, and giving the access code 6702282.
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Office +1 (713) 375-3535
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GALESBURG, Mich.--(BUSINESS WIRE)--#automakers--Power management company Eaton today announced its Vehicle Group has introduced a new zero-leak Compact Combo Valve that safely vents harmful evaporative fuel vapors in the tank by stacking a Fill Limit Vent Valve (FLVV) and a new Zero-Leak Grade Vent Valve (GVV).
A key benefit of the Compact Combo is reduced fuel vapor permeation. The smaller footprint of the stacked valves allows for a tighter seal when welded to the tank, in turn reducing permeation.
This innovative configuration reduces the product’s footprint by 20 mm, which decreases potential leak paths and provides fuel tank manufacturers more design flexibility. The Zero-Leak GVV fulfills all government-mandated requirements for zero-leak vapor valves.
“Eaton's world-class engineering teams are leading the way in developing innovative and highly efficient fuel vapor management products,” said Brian Contat, business unit director, Fuel Emissions, Eaton’s Vehicle Group. “As evaporative emissions reduction and vehicle standards become more stringent, Eaton’s fuel emissions products deliver a competitive advantage worldwide that helps our customers achieve or exceed upcoming emissions regulations.”
New Compact Combo technology reduces hydrocarbon emissions during refueling
The new Compact Combo Valve technology reduces hydrocarbon emissions with 98 percent efficiency during the vehicle refueling process and allows manufacturers to meet vehicle hydrocarbon emissions standards while the vehicle is parked.
The Compact Combo Valve has several unique design features that increase valve functionality to meet both tank and customer requirements. These features include a seal that reduces liquid leak in static venting conditions, as well as the ability to change the shut-off height of the FLVV through component substitution. Eaton also offers an added slosh baffle feature for vehicle applications involving aggressive driving dynamics that may cause shifting liquid fuel to leak.
“We can use short or long FLVV housings, depending on the application, for maximum permeation reduction,” Contat said. “We are able to cover all shut-off height requirements to vent above the shut-off valve when the main refueling valve is closed and the GVV shut-off height remains constant and optimized.”
Zero-Leak GVV prevents fuel leakage in all conditions
The GVV’s position at the top of the fuel tank prevents liquid leakage during all situations, including when the vehicle is traveling or parked at an angle. This is an added benefit when compared with competitive technologies that do not allow optimized positioning within the fuel tank during such conditions.
“Our design gives customers greater freedom to perform grade venting, which allows manufacturers to meet zero-leak vapor valve requirements,” Contat said. “You have to ensure you’re venting during all normal vehicle operations and degrees of parking.”
The zero-leak vapor valve requirement is an industry requisite to meet vehicle safety, driveability, emissions and component durability specifications. Eaton’s new Zero-Leak GVV sealing methodology employs an elastomeric seal over-molded onto a substrate to ensure this requirement is met.
Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably. Eaton’s 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. We have approximately 85,000 employees. For more information, visit www.eaton.com
Thomas Nellenbach
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(216) 333-2876 (cell)
HOUSTON & WILMINGTON, Del. & BOSTON--(BUSINESS WIRE)--UGS, a leader in gas processing technologies, today announced several important milestones.
Launch of Verdant Process Systems
Unconventional Gas Solutions LLC has launched a new line of process solutions for renewable natural gas (RNG), renewable hydrogen production and hydrogen recovery from industrial processes. Verdant Process SystemsTM leverages the gas separations expertise of the UGS team and builds on their experience designing and fabricating industry-leading gas processing systems for leading RNG and hydrogen companies.
Using UGS’ extensive experience in process design and packaging gained in over a century of collective experience in the harshest environments and solving the toughest separations challenges, the Verdant Process Systems design approach is based on technology selection and process design to optimize cost and carbon intensity as well as provide industry-leading methane emissions control across the system.
Key Additions
The launch of Verdant Process Systems comes as the company hires several new executives, all of whom join CEO George Paul as partners in the company. Chet Benham joins UGS as President. Chet was formerly CEO of Air Liquide Advanced Technologies US LLC where he was instrumental in the development of their RNG and membrane businesses including acquisition and greenfield development of 4 RNG projects and dozens of RNG equipment packages. He also supervised the Natural Gas Processing Business Unit where the team delivered one of the largest gas processing packages on a Floating, Production, Storage & Offloading (FPSO) vessel in the Brazilian Pre-Salt region. The project used the first of its kind all membrane solution for treating CO2 and H2S.
Bill Keller joins UGS as Vice President of Corporate Development and will drive commercial growth and business maturity. A former United States Marine Corps officer and pilot, Bill has over 14 years of wide-ranging experience in gases from commissioning and maintaining Air Liquide’s first hydrogen stations in the US, to executive management of global sales and manufacturing for Air Liquide’s membrane business. At Air Liquide, he was responsible for delivering the world’s largest onshore membrane-based gas processing plant. Prior to UGS, Bill served as Director of RNG Sales & Marketing for Archaea Energy.
Dr. Ben Bikson joins UGS as Chief Technology Officer overseeing all R&D and technology development. Ben was formerly Deputy Vice President of Air Liquide Advanced Separations. Prior to that, he served as Founder & President of PoroGen LLC, a leading gas separation membrane technology company, which was acquired by Air Liquide in 2015. He also was founder & CEO of Innovative Membrane Systems, Praxair’s membrane division, that was also acquired by Air Liquide in 2004. Dr. Bikson holds nearly a hundred patents related to membrane technology and its application.
New Engineering, Fabrication & Assembly Facility
UGS also announces a contract to purchase a 70,000 square foot Engineering, Fabrication & Assembly facility in Houston. The new, multi-building facility will house all of UGS’ fabrication and assembly activities. The facility will capture significant synergies with the supply chains available in the Houston area as well as the region’s growing renewable energy ecosystem. The new facility will complement the company’s Houston headquarters, the Business Development office in Wilmington, Delaware, and its R&D facility in Boston.
New Business
Verdant Process Systems is starting fast as UGS has been selected as the technology provider for 8 new projects for the Verdant Process Systems “flange-to-flange” turnkey biogas upgrading systems for the production of RNG. These projects, with leading developers like Novilla RNG, will come online over the next 2 years and will be supplied from UGS’ new assembly & fabrication facility in Houston.
Mark Hill, Co-CEO of Novilla commented, “With a staff that has helped launch eight operational dairy RNG projects, Novilla RNG understands the importance of straight-forward gas upgrading systems, the ability to remove a wide array of contaminants, and working with a company that has extensive experience producing RNG upgrading systems that are in service today. That’s why we are excited to be working with UGS on dairy RNG projects in the Midwest US that will be showcasing what both teams are capable of doing.”
“We see tremendous growth in renewable fuels projects,” says UGS CEO George Paul. “As the energy transition accelerates, UGS is uniquely suited to build on our experience in both RNG and traditional energy sectors to bring something new and exciting to the RNG and hydrogen space.”
Said Benham, the company’s new president, “The group of engineers, scientists, project professionals and executives we have assembled is truly second to none. UGS is now poised to provide great technology solutions across the energy transition and beyond.”
About Unconventional Gas Solutions
UGS was founded in 2013 and started as the engineering, assembly, and fabrication sister company of PoroGen LLC, a leader in membrane technology that was acquired by Air Liquide in 2015. Today, UGS supplies industry-leading gas separation technologies across a wide spectrum of industries; from conventional gas processing to renewable gas upgrading and such highly complex technologies as helium recovery and hydrogen production. UGS has world-class competencies in membrane separation, adsorption technologies, cryogenics, steam methane reforming and packaging including several important proprietary technologies.
The company is based in Houston, Texas with executive offices in Wilmington, Delaware and international sales offices in Tel Aviv, the United Arab Emirates and Kula Lumpur, Malaysia. UGS is a member of the Coalition for Renewable Natural Gas, the American, Canadian and European Biogas Councils, as well as the Compressed Gas Association, the Ammonia Energy Association, and the American Gas Association. An active participant in the renewable energy ecosystem in Houston, Boston, and Philadelphia, UGS is a member of the Northeast Clean Energy Council and the Renewable Energy Alliance of Houston. To learn more about UGS, please visit https://ugs.solutions/ or come see us at the RNG Works Conference in Nashville at booth 607.
Unconventional Gas Solutions LLC
Bill Keller, Vice President Corporate Development
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(346) 353-1048
www.ugs.solutions
Commitment Aligns Tapestry’s Climate Mitigation Targets with Most Ambitious Aim of the Paris Climate Agreement
NEW YORK--(BUSINESS WIRE)--Tapestry, Inc. (NYSE: TPR), a leading New York-based house of modern luxury accessories and lifestyle brands, today announced that it has signed the Science Based Targets initiative (“SBTi”) Business Ambition for 1.5⁰C, committing to setting interim science-based emissions reduction targets in order to limit global warming to 1.5°C and to reach net-zero global emissions by 2050 at the latest.
The commitment aligns Tapestry’s climate mitigation targets with the most ambitious aim of the Paris Agreement and adheres to SBTi’s most rigorous guidelines to reduce the destructive impacts of climate change in the short and long term.
By signing, Tapestry has committed to set science-based emissions reduction targets across all scopes, in line with 1.5°C emissions scenarios and the criteria and recommendations of the SBTi. In addition, the Company has pledged to set a long-term science-based target to reach net-zero value chain GHGs emissions by no later than 2050.
Joanne Crevoiserat, Chief Executive Officer of Tapestry, Inc., said, “At Tapestry, we are committed to leading with purpose and embracing our responsibility as a global house of fashion brands to effect real and lasting change for our industry and our stakeholders. Signing the Business Ambition for 1.5⁰C represents an important step forward in our journey to reduce our climate impact and make our planet more sustainable.”
By joining SBTi’s Business Ambition for 1.5⁰C, Tapestry is continuing to strengthen its dedication to environmental efforts to combat climate change. This commitment further reinforces Tapestry’s recently announced actions to drive positive change for its people, planet and community, including committing to procure 100% renewable electricity in its stores, offices, and fulfillment centers by 2025, and establishing the $50 million Tapestry Foundation to advance equity and opportunity and to combat the climate crisis. For more information, please visit https://www.tapestry.com/responsibility/our-planet/. For more information on SBTi, please visit https://sciencebasedtargets.org/.
About Tapestry, Inc.
Our global house of brands unites the magic of Coach, kate spade new york and Stuart Weitzman. Each of our brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products and differentiated customer experiences across channels and geographies. We use our collective strengths to move our customers and empower our communities, to make the fashion industry more sustainable, and to build a company that’s equitable, inclusive, and diverse. Individually, our brands are iconic. Together, we can stretch what’s possible. To learn more about Tapestry, please visit www.tapestry.com. The Company’s common stock is traded on the New York Stock Exchange under the symbol TPR.
This information to be made available in this press release may contain forward-looking statements based on management's current expectations. Forward-looking statements include, but are not limited to, statements that can be identified by the use of forward-looking terminology such as "may," "will," “can,” "should," "expect," “potential,” "intend," "estimate," "continue,” “commit,” “pledge,” "project," "guidance," "forecast," “outlook,” "anticipate," “goal,” “leveraging,” “sharpening,” transforming,” “creating,” accelerating,” “enhancing,” leaning into,” “innovation,” “drive,” “targeting,” “assume,” “plan,” “progress,” “optimistic,” “confident,” “conviction,” “future,” “journey,” “step forward,” “dedication,” “uncertain backdrop,” “emerge,” “on track,” “positioned to,” “look forward to,” “looking ahead,” or comparable terms. Future results may differ materially from management's current expectations, based upon a number of important factors, including risks and uncertainties such as the impact of the Covid-19 pandemic, the ability to control costs and successfully execute our growth strategies, expected economic trends, the ability to anticipate consumer preferences, risks associated with operating in international markets and our global sourcing activities, our ability to achieve intended benefits, cost savings and synergies from acquisitions, the risk of cybersecurity threats and privacy or data security breaches, the impact of pending and potential future legal proceedings, and the impact of legislation, etc. Please refer to the Company’s latest Annual Report on Form 10-K, quarterly report on 10-Q and its other filings with the Securities and Exchange Commission for a complete list of risks and important factors. The Company assumes no obligation to revise or update any such forward-looking statements for any reason, except as required by law.
Tapestry, Inc.
Analysts & Media:
Andrea Shaw Resnick
Chief Communications Officer
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Global Head of Investor Relations
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Getka, UNIMOT, and NuScale Power to explore commercialization of NuScale Power plants in Poland
PORTLAND, Ore.--(BUSINESS WIRE)--NuScale Power, Getka Group (Getka) and UNIMOT S.A. (UNIMOT) announced today the three companies have signed a Memorandum of Understanding (MOU) with business purposes including to explore the deployment of NuScale’s small modular reactor (SMR) technology as a coal repurposing solution for existing coal-fired power plants in Poland. Getka is an Oklahoma-based integrated energy company providing construction, and delivery of petroleum, refined products, and alternative energy. Through its Zero Impact Strategy, Getka is focused on reducing emissions output through renewable energy. UNIMOT is a Poland-based multi-energy Capital Group that offers its wholesale and retail customers fuel products, gas and electricity, including renewable energy. This agreement demonstrates the value of international partnership and collaboration in utilizing NuScale’s SMR technology to repurpose coal plants across the country.
Under the MOU, NuScale will support Getka and UNIMOT’s examination of NuScale’s SMR technology as a coal repowering/repurposing solution for existing coal-fueled power plants and more broadly for new nuclear plant implementations in Poland. The examination will include an analysis of technical, economic, legal, regulatory, financial, and organizational factors.
“NuScale is excited to partner with Getka and UNIMOT on the potential deployment of NuScale Power plants in Poland,” said John Hopkins, Chairman and CEO of NuScale Power. “The partnership between these three companies demonstrates the versatility and value of NuScale’s SMR technology for a variety of applications. NuScale’s SMRs are an ideal clean, reliable, and affordable energy solution to repurpose retiring coal fueled power plants across the Poland.”
“This project aligns with our commitment to decarbonize and diversify Poland’s energy infrastructure,” said Dariusz Cichocki, Chairman and CEO of Getka Group. “Through our ongoing partnership with UNIMOT, we are pleased to partner with NuScale to bring innovative solutions to market in Central Europe.”
“We are pleased that this is another area to develop low-emission projects in Poland, where we can be as involved as the UNIMOT Group in decarbonization. Our role will be promoting SMR technology as a reliable alternative for coal technologies, and acquiring business partners in the Polish market. Ultimately, we also intend to create a platform of collaboration with Polish academic centers and potential Polish component suppliers to develop this technology in our country. Because of this, we can actively support the energy transformation of Poland, simultaneously diversifying our Group’s business” said Adam Sikorski, President of the Management Board of UNIMOT S.A.
In August 2020, NuScale made history as the first and only SMR to receive design approval from the U.S. Nuclear Regulatory Commission and in July of 2021, the Commission published the proposed rule that would certify the NuScale design – a crucial step towards the construction and deployment of this SMR technology. The company maintains strong program momentum toward commercialization of its SMR technology, including supply chain development, standard plant design, planning of plant delivery activities, and startup and commissioning plans.
About NuScale Power
NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, hydrogen production and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 77 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design—power plants that can house up to four, six, or 12 individual power modules—offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 70-year history in commercial nuclear power.
NuScale is headquartered in Portland, OR and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, LinkedIn: NuScale-Power, and Instagram: nuscale_power. Visit NuScale Power's website.
About Getka Group
Getka Group is an integrated energy company providing construction and delivery of petroleum, refined products and alternative energy. The company is focused on strategic domestic and global growth that connects the security of U.S. energy reserves and resources to today’s changing worldwide energy marketplace. More information is available online at www.getka.com
About UNIMOT S.A.
UNIMOT S.A. is a multi-energy Capital Group that offers its wholesale and retail customers fuel products, gas and electricity, including renewable energy. Under the AVIA brand, UNIMOT develops a chain of petrol stations in Poland and from June 2020, the UNIMOT Group offers photovoltaic panels under the AVIA Solar brand. Activity of UNIMOT S.A. is based on over 25 years of experience. From March 2017, the company is listed on the Warsaw Stock Exchange. More information is available online at: https://www.unimot.pl/?lang=en
Diane Hughes, Vice President, Marketing & Communications, NuScale Power
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Cheena Pazzo
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Agnieszka Pawelska, PR Manager/Spokesperson, Unimot Group
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EVgo’s robust, customizable suite of solutions including EVgo Optima™ and EVgold™ serves the unique charging needs of electric fleets today
LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO), a first mover in fleet electrification and owner and operator of the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, today announced the expansion of EVgo Fleet Charging Solutions with a new suite of services to support fleets as they electrify their vehicles. EVgo, which serves over 300,000 customer accounts today including rideshare, autonomous, delivery, university, and other fleet clients, has developed the EVgo Optima™ software package and the EVgold™ service guarantee to make the shift to electric seamless for fleets.
“As EVgo’s fleet customers are experiencing firsthand, electrification is better for both the planet and the bottom line – which is in part why EV sales are booming across the country,” said Cathy Zoi, CEO of EVgo. “In addition to great electric cars, trucks, and vans, there's a crucial component for electrifying fleets that can’t be overlooked: reliable and convenient charging solutions that are part of the game plan from day one. EVgo has been leading the way on charging fleet vehicles, and with our new hardware, software, and service offerings through EVgo Optima and EVgold, we can reach even more fleet operators whether they need L2 or DCFC charging at their depot or away from base."
EVgo Fleet Solutions
EVgo provides a variety of Level 2 and DCFC charging solutions for light, medium, and heavy-duty fleets, designed to meet their unique operational needs, including the ability to leverage a combination of:
EVgo’s fleet solutions include a complete solution set of hardware, software, and operations, networking, and maintenance functions and capabilities supporting holistic cost-saving and optimization for fleet operations. This includes EVgo Optima, a “smart”, cloud-based software platform that ensures vehicles are optimally fueled at the lowest possible cost while adhering to facility and electrical grid constraints. As the industry’s most experienced owner-operator of DCFC and L2 charging solutions in the US, EVgo offers fleet customers EVgold, a best-in-class operations and maintenance service offering to maximize uptime, backed by rigorous, co-developed hardware at the EVgo Innovation Lab, based on power sharing and power routing architectures to enable simultaneous charging of multiple vehicles intelligently and cost effectively from a single set of charging hardware. The Company’s superior 24/7 customer support further reinforces reliability, safety and interoperability for EV fleets.
Automakers around the globe have announced more than $300 billion of EV investments, with fleet electrification for rideshare, delivery, municipal, autonomous, and other market segments further accelerating the shift to e-mobility. EVgo’s fleet solutions offerings help fleet operators manage the transition from fossil-fuel reliance to electric fleets at the pace that meets each fleet’s business needs, providing tools that allow them to unlock the economic and environmental benefits of electrification.
Backed by over a decade of building and operating the nation’s largest public fast charging network, EVgo is a valued partner to Uber, Lyft, Samsara, Electric Last Mile Solutions, and two leading autonomous vehicle (AV) companies, in addition to providing charging solutions to fleets across delivery, rental, freight and logistics segments. In July 2021, General Motors Company (GM) named EVgo a preferred provider for its Ultium Charge 360 fleet service.
“Fleet electrification is top of mind for a number of our transportation customers, but the process of adopting EVs can present unique operational challenges,” said Christopher Mozzocchi, Director, Platform Integrations at Samsara. “That's why we're excited to have EVgo as a trusted partner to help customers navigate this transition and meet their sustainability goals. The combination of EVgo’s integrated, networked charging solutions and Samsara’s Connected Operations Cloud helps users optimize their electrification strategy reliably and cost-effectively.”
“Catalyzing an industry transformation as profound as the electrification of fleet transportation requires players across the value chain coming together to offer turnkey solutions,” said Jonathan Ballon, Chief Strategy Officer at Electric Last Mile Solutions. “Electric Last Mile Solutions is the first electric light commercial vehicle manufacturer to be available today, and EVgo’s purpose-built fleet charging solutions create an opportunity for fleet customers to accelerate their electrification journey.”
Learn more about EVgo Fleet Solutions here. Fleet operators can also download EVgo’s guide to navigating and realizing the benefits of fleet electrification here.
About EVgo
EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 68 metropolitan areas across 35 states and more than 300,000 customer accounts. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.
For Investors:
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