FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Universal Insurance Holdings (NYSE: UVE) (the “Company”) today announced today that they recently joined the U.S. Environmental Protection Agency’s Green Power Partnership. Universal Insurance Holdings, Inc. is using 652,000 kilowatt-hours (kWh) of green power annually, which is enough green power to meet 25 percent of the organization's electricity use. By choosing green power, Universal Insurance Holdings, Inc. is helping advance the voluntary market for green power and development of those sources.
“This is a great honor, and we are proud to be recognized by the U.S. Environmental Protection Agency,” said Stephen Donaghy, Chief Executive Officer. “Using green power helps our organization reduce air pollution and lower our emissions footprint, while also sending a message to others across the country that green power is an affordable, accessible choice.”
By moving the needle in the voluntary green power market, Universal Insurance Holdings, Inc. and other Green Power Partners are helping to reduce the negative health impacts of air emissions including those related to ozone, fine particles, acid rain, and regional haze.
"EPA applauds Universal Insurance Holdings, Inc. for its leadership position in the green power marketplace," said James Critchfield, Program Manager of EPA's Green Power Partnership. "Universal Insurance Holdings, Inc. is an excellent example for other organizations in reducing greenhouse gas emissions through green power investment and use."
According to the U.S. EPA, Universal Insurance Holdings, Inc.’s green power use is equivalent to 1,161,251 miles driven by an average passenger vehicle or 510,708 pounds of coal burned.
About Universal Insurance Holdings, Inc.
Universal Insurance Holdings (UVE) is a holding company offering property and casualty insurance and value-added insurance services. We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution. We sell insurance products through both our appointed independent agents and through our direct online distribution channels in the United States across 19 states (primarily Florida). Learn more at UniversalInsuranceHoldings.com.
About EPA’s Green Power Partnership
The Green Power Partnership is a voluntary program that helps increase green power use among U.S. organizations to advance the American market for green power and development of those sources as a way to reduce air pollution and other environmental impacts associated with electricity use. In 2020, the Partnership had more than 700 Partners voluntarily using nearly 70 billion kilowatt-hours of green power annually. Partners include a wide variety of leading organizations such as Fortune 500® companies; small and medium sized businesses; local, state, and federal governments; and colleges and universities. For additional information, please visit www.epa.gov/greenpower.
Investor Relations Contact:
Rob Luther, 954-892-6487
VP, Corporate Development, Strategy & IR
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Media Relations Contact:
Andy Brimmer / Mahmoud Siddig, 212-355-4449
Joele Frank, Wilkinson Brimmer Katcher
BLACKWOOD, N.J.--(BUSINESS WIRE)--#Giveback--Vision Solar today announced that they are officially a national sponsor for the non-profit organization, Operation Turkey, a community of volunteers dedicated to feeding and clothing the homeless nationwide on Thanksgiving Day.
Through our partnership, we are helping Operation Turkey provide over 12,500 people with a thanksgiving meal and care package on Thanksgiving Day. Vision Solar and their leadership team have expressed their importance on giving back and how it aligns with their company core values, one of which is, “To give and to grow.” Vision Solar's CEO, Jonathan Seibert, has stated:
“We are honored to be a part of this journey. Together we are forever impacting our world and the lives of our neighbors, while truly living out our social responsibility as a company.” when asked about Vision Solar's philanthropy involvement.
To express their gratitude, Operation Turkey team leads visited Vision Solar's headquarters location and gave out their famous turkey hugs, where they dress up in turkey costumes and give hugs to national sponsors’ employees in an effort to educate in an interactive way more about their organization.
To learn more about Operation Turkey and its annual impact, visit www.operationturkey.com
For any inquiries regarding this press release, please feel free to contact John Czelusniak at This email address is being protected from spambots. You need JavaScript enabled to view it. or Juliana Echavarria This email address is being protected from spambots. You need JavaScript enabled to view it.
About Vision Solar:
Vision Solar is one of the fastest growing solar energy companies in the United States. Their full-service renewable energy company installs solar services for residential homes nationwide. Over the past three years, Vision Solar has grossed over $100 million in revenue, with significant increase in projected growth to produce 1000+ high-quality Green Jobs by 2022. To learn more, visit: https://www.visionsolar.com
Juliana Echavarria
Vision Solar LLC
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KILGORE, Texas--(BUSINESS WIRE)--Martin Midstream Partners L.P. (NASDAQ:MMLP) (“MMLP” or the “Partnership”) announced today the execution of an amended limited partnership agreement that permanently eliminates the incentive distribution rights (“IDRs”) of its general partner, Martin Midstream GP LLC (the “General Partner”). The elimination of the IDRs, which does not require further consents, is effective immediately.
Bob Bondurant, President and Chief Executive Officer of MMGP said, “I was pleased with the announcement earlier today concerning the consolidation of control of the General Partner under Martin Resource Management Corporation (“MRMC”) and Senterfitt Holdings Inc. ("Senterfitt"), which was fundamental for the approval of the amendment to the limited partnership agreement."
“The elimination of the IDRs removes the financial complexity in the Partnership’s structure and directly aligns MMLP, MRMC and the General Partner with the holders of our common units. I believe this transaction, although not immediately accretive, will provide value over the long-term to our unitholders and enhance the attractiveness of our common equity units.”
About Martin Resource Management Corporation
MRMC through its various subsidiaries is an independent provider of marketing and distribution services for fuel oil, asphalt, diesel fuel and high-quality naphthenic lubricants. The privately-held company is based in Kilgore, Texas and was founded in 1951 by R.S. and Margaret Martin. MRMC holds a 51% voting interest (50% economic interest) in Holdings, the sole member of the General Partner of MMLP.
About Senterfitt Holdings Inc.
Senterfitt is wholly-owned by Ruben S. Martin, III, President and Chief Executive Officer of MRMC, and holds various personal investments on Ruben S. Martin's behalf, including through its subsidiaries the 49% voting interest (50% economic interest) in Holdings, the sole member of the General Partner of MMLP.
About Martin Midstream Partners
MMLP, headquartered in Kilgore, Texas, is a publicly traded limited partnership with a diverse set of operations focused primarily in the Gulf Coast region of the United States. MMLP's primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn and Facebook.
MMLP-F
Sharon Taylor
Chief Financial Officer
(877) 256-6644
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HALIFAX, Nova Scotia--(BUSINESS WIRE)--Today, Tribe Network and Emera Inc. launched the Tribe IDEA (Inclusion, Diversity, Equity & Access) Fellowship presented by Emera. The IDEA Fellowship will create opportunities for Black, Indigenous and People of Colour (BIPOC) in Atlantic Canada to pursue entrepreneurship and innovation.
“Corporate and government decision-making in Nova Scotia needs impactful ideas that reflect our most historic and marginalized communities so we can move forward as a more equitable Province,” says Alfred Burgesson, CEO & Founder of Tribe Network. “That’s why, in partnership with Emera, we’re committed to helping to create opportunities for Black, Indigenous and People of Colour to influence entrepreneurship and innovation in a way that reflects the needs of our community as a whole.”
Emera is investing $375,000 from its Diversity, Equity and Inclusion Fund to establish the Fellowship. The program will provide participants with access to peer networks, mentors and industry experts, as well as financial support to pursue their community-based efforts.
“This partnership builds on Emera’s long history of driving innovation and entrepreneurship in Atlantic Canada to build strong communities,” says Scott Balfour, President and CEO, Emera Inc. “By helping to provide resources and support that have historically been lacking for BIPOC entrepreneurs and community leaders, together we can shape a region that is more diverse, equitable and inclusive.”
The theme for the first cohort of participants in 2022 is Inclusive Policy, Research and Advocacy, with a focus on entrepreneurship and innovation in Nova Scotia.
NOVA SCOTIA FELLOWSHIP APPLICATION
Individuals interested in participating in the Tribe IDEA Fellowship presented by Emera are now invited to submit this application form. Applications will be accepted until December 30th.
To be eligible for the first cohort starting in 2022, applicants must be based in Nova Scotia and identify as at least one of the following:
Tribe Network staff will follow-up with applicants in the first week of January regarding application status.
About Tribe Network
Tribe Network is a social enterprise supporting Black, Indigenous and People of Colour pursuing entrepreneurship and innovation — we provide BIPOC folks with access to the relevant networks, resources and opportunities to succeed as entrepreneurs and innovators.
Tribe Network partners with community organizations, governments, educators, researchers and organizations who share the vision of applying innovative solutions to the task of improving the quality of life of Black, Indigenous and People of Colour.
Our goal is to support BIPOC access to employment, education, training and a network that provides them with the knowledge, skills, and agency they need to thrive in an ever-changing world. Learn more at www.tribenetwork.ca
About Emera Inc.
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.
Emera Diversity, Equity and Inclusion Fund
Emera and its operating companies launched the Emera Diversity, Equity & Inclusion Fund in February 2021 and are collectively investing a minimum of $5 million over five years to support organizations and initiatives advancing inclusion and diversity in our communities. To learn more, visit www.emera.com/fund.
Media Inquiries
Margaret Schwartz
Communications & Community Navigator, Tribe Network
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902 579 5701
Emma Cochrane
Manager, Corporate Communications, Emera Inc.
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902 943 0537
DUBLIN--(BUSINESS WIRE)--The "Global Industrial Mixers Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
This study analyzes the global industrial mixers market and its short, medium, and long-term growth prospects over the next five years.
The COVID-19 pandemic has created unforeseen circumstances for businesses globally, affecting manufacturing sector growth. However, the pandemic has also increased sanitary standards, with mixers vital in maintaining these standards. Mixers that consume less power and have smart mixing capabilities and programmable logic controllers (PLCs) drive market growth.
Importantly, this research offers three lucrative growth opportunities for industrial mixer OEMs to consider in the global market. The publisher identifies these growth opportunities as critical enablers that unlock new revenue streams and deliver differentiated mixer products and services.
Research Scope
The report includes the following vertical markets in this study:
We also provide detailed market analysis by product segment-agitators:
Key Topics Covered:
1. Strategic Imperatives
2. Growth Opportunity Analysis
3. Growth Opportunity Analysis, North America
4. Growth Opportunity Analysis, Latin America
5. Growth Opportunity Analysis, Middle East and Africa
6. Growth Opportunity Analysis, Europe
7. Growth Opportunity Analysis, Asia-Pacific
8. Growth Opportunity Universe
For more information about this report visit https://www.researchandmarkets.com/r/vja0hx
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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VIENNA--(BUSINESS WIRE)--Beginning in December, Tolltickets will add an additional 800km of toll roads in Norway, several ferry providers and the world-famous Øresund and Storebaelt bridges to its network, expanding its services both for private and business customers across Europe.
In Belgium, where all heavy goods vehicles (exceeding a weight of 3,5 tons) must be equipped with an On-Board Unit (OBU), Tolltickets’ partners and customers will now benefit from a fully integrated solution. The Belgium road network is a significant step forward as it connects tolltickets’ users in Central and Eastern Europe with the port of Antwerp, one of the world’s largest seaports.
With this service expansion, Tolltickets’ users can now pay tolls seamlessly in eight countries (Germany, Austria, Hungary, Bulgaria, Belgium, Denmark, Sweden, and Norway) with a single device.
Quentin Couret, COO of Tolltickets, comments: “Belgium and Scandinavia are important milestones in our strategy to cover Europe with one single OBU, reducing complexity and increasing profitability for our customers.”
Jan Kersten, Tolltickets Managing Director, concludes: “Since entering the EETS market, tolltickets has been growing rapidly and continuously added new territories to its existing toll road network. More toll domains and will be added to its existing portfolio soon.”
Tolltickets GmbH is one of the leading providers of tolling services and tolling products in Europe. As an experienced specialist, Tolltickets is a strong partner offering private and business customers flexible and individually tailored tolling solutions for all of Europe from a single source. Further information on Tolltickets: www.tolltickets.com / Follow Tolltickets on LinkedIn
Kapsch TrafficCom is a globally renowned provider of transportation solutions for sustainable mobility. Innovative solutions in the application fields of tolling, tolling services, traffic management and demand management contribute to a healthy world without congestion. Further information: www.kapsch.net/ktc
Follow Kapsch TrafficCom on Twitter and LinkedIn
Carolin Treichl
T +43 50 811 1710
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SAN FRANCISCO--(BUSINESS WIRE)--kWh Analytics, the market leader in Insurance for the Energy Transition, launched the first-of-its-kind Solar Generation Advance today. The Solar Generation Advance allows solar asset owners to receive upfront “bonus” payments in return for maintaining asset performance. The innovative new offering was developed in partnership with Excelsior Energy Capital.
kWh Analytics has structured the Solar Revenue Put on $3 billion projects, enhancing project economics and protecting against downside risk for both sponsors and lenders since 2017. As the market leader in insurance, kWh Analytics continues to explore unique solutions to improve project financial terms and mitigate risk for sponsors and financiers. The Solar Generation Advance represents another milestone in this process: the Advance provides a second revenue stream for operating and new build projects.
The Solar Generation Advance provides an additional revenue source for both development and operating assets. Specifically, for development stage assets, the Solar Generation Advance can provide additional unencumbered cash for developers, which can increase their development fee or increase equity internal rates of return by 50-100 bps. For operating assets, the Solar Generation Advance provides a flexible funding source for additional sponsor distributions or operations and maintenance enhancements to the project.
“As a long-term asset owner, we understand the benefit of flexible capital and additional revenue streams in today’s market. The Solar Generation Advance provides value-enhancing optionality to both developers and asset owners, and we are proud to be a part of this innovative solution” said Ryan Fegley, Partner and Co-Founder at Excelsior Energy Capital.
“We are excited to deliver a solution that rewards prudent owners and stewards of solar power plants. The Solar Generation Advance and Solar Revenue Put are complementary risk management tools that sophisticated investors use to unlock more value from their assets,” said Richard Matsui, CEO and Founder at kWh Analytics.
The Solar Generation Advance will help ensure our industry accomplishes its goal of installing more solar to accelerate the Energy Transition, while continuing to provide reliable returns to equity investors.
Akin Gump has provided legal support for the formation of this project with a team led by Daniel Lynch and including Matt Kapinos and Graham McCall.
About kWh Analytics
kWh Analytics, the market leader in Insurance for the Energy Transition, uses our proprietary database of renewable energy project performance of 300,000+ operating assets -- the world's largest renewables database -- to underwrite insurance policies for renewable energy, backed by Swiss Re, the world's largest reinsurer. We have insured $3 billion of American solar power plants with our first insurance product, the Solar Revenue Put. kWh Analytics is funded by venture capital and the US Department of Energy. To learn more, please visit https://www.kwhanalytics.com/, connect with us on LinkedIn, or follow @kwhanaltyics on Twitter.
About Excelsior Energy Capital
Excelsior Energy Capital is a pure-play renewable energy infrastructure fund focused on long-term investments in wind and solar power plants in North America. The Excelsior management team alone brings over 70 years of combined experience and a comprehensive set of strategic, financial, legal and operational expertise; making Excelsior Energy Capital a valuable partner for developers and operators, and a trusted manager for investors. For more information, visit http://www.excelsiorcapital.com.
Stephanie Lee
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DUBLIN--(BUSINESS WIRE)--The "Drones (Unmanned Aircraft Vehicles) for Maritime Operation - Thematic Research" report has been added to ResearchAndMarkets.com's offering.
This report focuses on drones for maritime operations, which they will be force multiplier in future maritime operations.
Drones for maritime operations thematic research offers a detailed analysis of drones being developed and used by navies and other maritime organizations. The research includes insightful industry analysis of the drones and key use cases highlighting how Navies worldwide have started working on developing and implementing the technology.
In the last 20 years, unmanned aircraft vehicles (UAVs), commonly called drones, have been adopted rapidly in many sectors, both in the civil and defense fields. They have become a force multiplier used in many naval operations, especially intelligence, surveillance, and reconnaissance (ISR), with their low operating cost, versatile and long-term endurance, and being able to be used safely in dangerous areas. Countries across the globe are therefore investing in the procurement, research, and development of UAVs.
Drones have the potential to be used as force multipliers in many areas of maritime operations, with their modular structures and their ability to carry many different payloads.
Scope
Reasons to Buy
Key Topics Covered:
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/ewb1q7
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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WALLINGFORD, Conn.--(BUSINESS WIRE)--#Alkaline--Nel Hydrogen Electrolyser AS, a division of Nel ASA (Nel, OSE:NEL), has received a purchase order for a 20MW alkaline water electrolyser from Ovako, a leading European manufacturer of engineering steel. The electrolyser will be installed at Ovako’s existing plant in Hofors, Sweden. The fossil-free hydrogen will replace the use of fossil propane gas currently used in the heating furnaces.
“We are excited to announce the delivery of electrolyser equipment to Ovako. There is huge potential in reducing CO2-emissions from steel-heating processes through green hydrogen. We look forward to working with Ovako and its partners to further develop fossil-free steel production,” says Jon André Løkke, CEO at Nel.
The purchase order has a contract value of approximately EUR 11 million with equipment delivery in late 2022. The electrolyser will produce oxygen and hydrogen for Ovako’s steel-heating process and is a major step towards zero-carbon emission steel production. The conversion to hydrogen will enable Ovako to reduce its CO2 emissions for steel production in Hofors by 50 percent.
“In June we announced our collaboration with the Volvo Group, Hitachi Energy, H2 Green Steel and Nel Hydrogen with the purpose to invest in fossil-free hydrogen in Hofors. An investment that also got the support from the Swedish Energy Agency. We are very pleased to have reached this important milestone. The electrolyser technology will enable us to eliminate CO2 for heating steel before rolling,” says Rickard Qvarfort, President Business unit Hofors.
Ovako is a leading European manufacturer of engineering steel for customers e.g. in the bearing, transportation and manufacturing industries, and is a subsidiary of Sanyo Special Steel and part of the Nippon Steel Corporation Group. The company has geographical presence in Europe, North America and Asia, and a steel product line that includes niche products and customized solutions. The carbon footprint of Ovako’s steel products is a full 80 percent lower than the global average.
Reference is made to the press release from June 22, 2021: Nel ASA: Joins hydrogen initiative with leading players to enable fossil-free steel rolling/milling.
Jon André Løkke, CEO, +47.907.44.949
Kjell Christian Bjørnsen, CFO, +47.917.02.097
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NEW YORK--(BUSINESS WIRE)--South Fork Wind, New York’s first offshore wind farm, today announced it received its Record of Decision (ROD) from the U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM), successfully reaching a critical milestone in the federal environmental review.
South Fork Wind remains on track to be fully permitted by early 2022, and with the project’s joint venture partners Ørsted and Eversource ramping up construction activities soon after on the 132-megawatt offshore wind farm serving Long Island. The project will kickstart New York’s offshore wind industry and power approximately 70,000 New York homes with clean, offshore wind energy when it begins operations at the end of 2023.
“New York State is facing the challenges of climate change head-on, and we thank the Biden-Harris Administration for their steadfast support,” said Governor Kathy Hochul. “With today’s permitting milestone, South Fork Wind is set to be New York’s historic first offshore wind farm providing clean energy where it is needed most. Our nation-leading climate and offshore wind goals demand bold action and moving South Fork Wind forward brings us closer to a cleaner and greener future.”
“With the achievement of this critical federal permitting milestone, construction of this historic wind farm is expected to begin in the weeks and months ahead,” said David Hardy, Chief Executive Officer of Ørsted Offshore North America. “We thank Secretary Haaland, Director Lefton and the team at BOEM, Governor Hochul, NYSERDA CEO Doreen Harris, the NY State Legislature and the Long Island Power Authority as well as East Hampton’s elected leaders for their clean energy vision. South Fork Wind will not only boost the economy with family-sustaining jobs, but it will also help combat climate change and reduce air pollution as a clean energy resource for many Long Island residents.”
"South Fork Wind is now on the cusp of making history as New York's first offshore wind farm, delivering on the promise of clean energy, creating well-paying local jobs and helping combat the worst impacts of climate change," said Joe Nolan, Chief Executive Officer and President of Eversource Energy. "We look forward to starting onshore construction soon and moving New York a significant step closer toward reaching its nation-leading clean energy goals.”
“The offshore wind industry will create thousands of union jobs, reduce air pollution, and combat climate change – the greatest existential threat facing our communities on Long Island,” said U.S. Representative Kathleen Rice (NY-04). “I am thrilled the Biden Administration has issued South Fork Wind its Record of Decision, a critical regulatory designation that keeps this project on track to begin construction and bring clean, reliable power back to our shores by the end of 2023. I will continue working in Congress to support offshore wind development and ensure Long Island remains at the forefront of this growing industry.”
“The offshore wind industry is the future of our Long Island economy, and Suffolk County is proud to serve as a national model for creating a greener future for generations to come,” said Suffolk County Executive Steven Bellone. “Offshore wind projects are a critical part of our comprehensive plan to combat climate change and mitigate its effects on Long Islanders, and today’s announcement brings this historic project one step closer to reality.”
“Today’s announcement is a watershed moment for New York State,” said Doreen M. Harris, President and CEO, NYSERDA. “We are encouraged to see the federal government’s commitment to ensuring critical projects like South Fork Wind move ahead swiftly to tackle the existential threat of climate change while providing good paying jobs when our economy needs it most. New York is cementing itself as the nation’s leader in offshore wind, delivering cost-effective and reliable renewable energy as part of its goals to deliver a more sustainable future for New Yorkers.”
“BOEM’s Record of Decision on the South Fork Wind farm is a significant milestone on the journey to establishing family-sustaining careers with good pay and benefits in a new industry,” said Roger Clayman, Executive Director of the Long Island Federation of Labor, AFL-CIO. “The Long Island Federation of Labor congratulates Ørsted and Eversource for their exhaustive efforts to engage communities and their commitment to high-road economic development. And we thank the Biden Administration and Governor Hochul for their commitment to combating the climate crisis and focusing New York’s resources on the development of offshore wind. American workers should not have to choose between a good job and a clean environment. We can and must have both.”
“Offshore wind is regarded as Labor's seed in growing an equitable economy that extends well beyond the shoreline,” said Matthew Aracich, President, Building and Construction Trades Council of Nassau and Suffolk Counties, AFL-CIO. “BOEM’s resolution on South Fork Wind sets the stage for a period of prosperity that spans an entire generation. Ørsted’s commitment to remain true to being ‘the world's most sustainable company’ is proof positive that green energy can deliver on so many different levels. The words ‘sustainable’ and ‘resilient’ can now be used simultaneously to aptly describe a wide range of employment opportunities as well as the environment. The Building and Construction Trades Council of Nassau and Suffolk Counties is ecstatic with the commitments made by the Biden Administration and Governor Hochul to tackle climate change and make the world better for future generations.”
“For New York’s nation-leading clean energy and offshore wind goals to become a reality, we need to turn policy into projects,” said Julie Tighe, President of the New York League of Conservation Voters. “That’s why NYLCV is so excited to see the permit for New York’s first offshore wind project, South Fork Wind, progress toward construction. Combating climate change requires federal, state, and local governments to work together with wind developers to prioritize sustainability through responsible clean energy projects. Today's announcement is another step toward supercharging the delivery of sustainable renewable energy, protecting our environment, and creating good-paying green jobs for New York’s economy."
“Long Island is leading the way in offshore wind, and it is beyond exciting that the first offshore wind farm in New York will be built off our coast,” said Matt Cohen, President & CEO of the Long Island Association. “This is a shining example of what can happen when the federal, state, and local governments and the private sector work together to reach clean energy goals, create jobs, and stimulate the economy.”
"The federal government has announced an early holiday gift – the gift of clean renewable offshore wind energy,” said Adrienne Esposito, Executive Director, Citizens Campaign for the Environment. “Today is a celebration of the beginning of a new energy future for New York, a true transition from polluting fossil fuels to clean renewable energy. The South Fork Wind farm will provide thousands of homes with reliable offshore wind power. We applaud the Bureau of Ocean Energy Management and New York State, who spent years conducting exhaustive environmental and community outreach to ensure this project is responsibly sited and mitigates environmental impacts to local marine habitat while providing good jobs and reliable energy for Long Island. We cannot wait to see these beacons of hope in the water for our first offshore wind farm.”
"Today is a red-letter day for the future of offshore wind,” said Fred Zalcman, Director of the New York Offshore Wind Alliance. “Today's federal approval of New York's first utility-scale offshore wind farm is the culmination of several years of planning and community engagement and will demonstrate the massive economic, environmental, and social benefits of this renewable resource for all New Yorkers.”
“This is a gratifying moment in the long-delayed transition to clean energy for Eastern Long Island. Win With Wind is proud and grateful to the community for the outpouring of support,” said Judith Hope, founder of Win With Wind.
South Fork Wind Project Info and Timeline
Ørsted and Eversource will soon enter the construction phase of South Fork Wind, with onshore activities beginning first. The South Fork Wind team is now gearing up for site preparation work and the start of construction, beginning as early as January 2022, on the project’s underground transmission line.
Fabrication of the project’s offshore substation is already in process. Ørsted and Eversource recently announced the selection of Kiewit Offshore Services, Ltd. (Kiewit), the largest offshore fabricator in the U.S., to design and build the substation for the project. The 1,500-ton, 60-foot-tall substation will be built at Kiewit’s facility in Ingleside, Texas, near Corpus Christi. More than 350 workers across three states will support this South Fork Wind structure.
In addition, hundreds of union workers in the Northeast will support the South Fork Wind project and additional projects in the region.
Offshore installation of the project’s monopile foundations and 11-megawatt Siemens-Gamesa wind turbines is expected to begin in summer 2023.
BOEM’s issuance of the Record of Decision concludes the thorough, BOEM-led environmental review of the project. It will be followed in January by the final approval of South Fork Wind’s Construction and Operations Plan (COP). The COP outlines the project’s uniform one nautical mile turbine layout, the construction methodology for all work occurring in federal ocean waters, fishing industry compensation plan, and mitigation measures to protect species, such as North Atlantic Right Whales.
South Fork Wind will be located about 35 miles east of Montauk Point. Its transmission system will deliver clean energy directly to the electric grid in the Town of East Hampton. Power needs on the South Fork are growing faster than anywhere else on Long Island. In 2015, LIPA and PSEG Long Island issued a request for proposals to address this specific need and selected South Fork Wind because it was part of a portfolio that offers the most cost-effective solution to meet this demand, while at the same time increasing grid resiliency on the east end of Long Island.
About Ørsted Offshore North America
The Ørsted vision is a world that runs entirely on green energy. Ørsted ranks as the world’s most sustainable energy company in Corporate Knights’ 2021 Global 100 index of the most sustainable corporations and is recognized on the CDP Climate Change A List as a global leader on climate action.
In the United States, Ørsted operates the Block Island Wind Farm, America’s first offshore wind farm, and constructed the two-turbine Coastal Virginia Offshore Wind pilot project – the first turbines to be installed in federal waters. Ørsted has secured over 4,000 megawatts of additional capacity through six projects in the Northeast and Mid-Atlantic. Ørsted Offshore’s North American business is jointly headquartered in Boston, Massachusetts and Providence, Rhode Island and employs more than 250 people. To learn more visit us.orsted.com or follow us on Facebook, Instagram and Twitter (@OrstedUS).
About Eversource
Eversource (NYSE: ES) transmits and delivers electricity and natural gas and supplies water to approximately 4.3 million customers in Connecticut, Massachusetts and New Hampshire. Celebrated as a national leader for its corporate citizenship, Eversource is the #1 energy company in Newsweek’s list of America’s Most Responsible Companies for 2021 and recognized as one of America’s Most JUST Companies. The #1 energy efficiency provider in the nation, Eversource harnesses the commitment of approximately 9,300 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. The company is empowering a clean energy future in the Northeast, with nationally recognized energy efficiency solutions and successful programs to integrate new clean energy resources like solar, offshore wind, electric vehicles and battery storage, into the electric system. For more information, please visit eversource.com, and follow us on Twitter, Facebook, Instagram, and LinkedIn. For more information on our water services, visit aquarionwater.com.
Media
For South Fork Wind:
Meaghan Wims
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401-261-1641
DEERFIELD, Ill.--(BUSINESS WIRE)--CF Industries Holdings, Inc. (NYSE: CF) today announced that the company will present at the following conferences in December:
Investors who wish to access the live conference webcasts should visit the Investor Relations section of the company’s website at www.cfindustries.com. A replay of the webcasts will be available on the CF Industries Holdings, Inc. website until March 10, 2022.
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our nine manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the Company’s website at www.cfindustries.com and encourages those interested in the Company to check there frequently.
Media
Chris Close
Director, Corporate Communications
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Investors
Martin Jarosick
Vice President, Investor Relations
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SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE: VLO, “Valero”) announced today the pricing terms of its previously announced cash tender offer (the “Any and All Tender Offer”) for any and all of its outstanding 2.700% Senior Notes due 2023 (the “Any and All Notes”). The terms and conditions of the Any and All Tender Offer are described in the Offer to Purchase, dated November 18, 2021 (the “Offer to Purchase”). The Any and All Tender Offer is scheduled to expire at 5:00 p.m., New York City time, today, November 24, 2021, unless extended or earlier terminated.
The Reference Yield, Repurchase Yield and Total Consideration (each as defined more fully in the Offer to Purchase) with respect to the Any and All Tender Offer are detailed in the table below.
Title of
|
CUSIP/ISIN |
Initial
|
U.S. Treasury
|
Reference
|
Fixed
|
Repurchase
|
Total Consideration (1) |
2.700% Senior
|
91913YAX8 /
|
$850,000,000 |
0.25% UST due
|
0.420% |
+40 bps |
0.820% |
$1,025.65 |
| ____________________ | |||||||
(1) Per $1,000 principal amount. |
|||||||
Upon consummation of the Any and All Tender Offer, Valero will pay the Total Consideration (as shown in the table above) for each $1,000 principal amount of Any and All Notes validly tendered and accepted for payment, plus accrued and unpaid interest up to, but not including, November 30, 2021, the expected settlement date for the Any and All Tender Offer. The Total Consideration was calculated in the manner described in the Offer to Purchase by reference to the fixed spread specified in the table above plus the yield to maturity based on the bid-side price of the U.S. Treasury Reference Security specified in the table above at 2:00 p.m., New York City time, on November 24, 2021.
To receive the Total Consideration, holders of Any and All Notes must validly tender and not validly withdraw their Any and All Notes or timely comply with the guaranteed delivery procedures set forth in the Offer to Purchase prior to the expiration of the Any and All Tender Offer. Any and All Notes tendered may be withdrawn at any time prior to the expiration of the Any and All Tender Offer by following the procedures described in the Offer to Purchase. Holders of Any and All Notes are urged to read carefully the Offer to Purchase before making any decision with respect to the Any and All Tender Offer.
Valero’s obligation to accept for payment and to pay for the Any and All Notes validly tendered in the Any and All Tender Offer is subject to the satisfaction or waiver of a number of conditions described in the Offer to Purchase, including a financing condition. The Any and All Tender Offer may be terminated or withdrawn in whole, subject to applicable law. Valero reserves the right, subject to applicable law, to (1) waive any and all conditions to the Any and All Tender Offer, (2) extend or terminate the Any and All Tender Offer, or (3) otherwise amend the Any and All Tender Offer in any respect.
Valero has retained J.P. Morgan Securities LLC and Citigroup Global Markets Inc. as Lead Dealer Managers, BofA Securities, Inc., Mizuho Securities USA LLC and MUFG Securities Americas Inc. as Co-Dealer Managers (collectively, the “Dealer Managers”) for the Any and All Tender Offer. Valero has retained D.F. King & Co., Inc. as the tender and information agent for the Any and All Tender Offer. For additional information regarding the terms of the Any and All Tender Offer, please contact: J.P. Morgan Securities LLC at (866) 834-4666 (toll free) or (212) 834-3424 (collect); or Citigroup Global Markets Inc. at (800) 831-9146. Requests for documents and questions regarding the tendering of securities may be directed to D.F. King & Co., Inc. by telephone at (212) 269-5550 (for banks and brokers only) or (800) 334-0384 (for all others, toll-free), by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or at www.dfking.com/vlo or to the Dealer Managers at their respective telephone numbers.
This announcement is for information purposes only and does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Any and All Tender Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law. None of Valero, the tender and information agent, the Dealer Managers or the trustee with respect to the Any and All Notes, nor any of their affiliates, makes any recommendation as to whether holders should tender or refrain from tendering all or any portion of their Securities in response to the Any and All Tender Offer.
Safe-Harbor Statement
Statements contained in this press release that state Valero’s or its management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words “anticipate,” “believe,” “expect,” “plan,” “intend,” “scheduled,” “estimate,” “project,” “projection,” “predict,” “budget,” “forecast,” “goal,” “guidance,” “target,” “could,” “would,” “should,” “may,” “strive,” “seek,” “potential,” “opportunity,” “aimed,” “considering,” “continue,” and similar expressions identify forward-looking statements. Forward-looking statements in this press release include those relating to the expiration date, withdrawal deadline and settlement date for the Any and All Tender Offer. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of Valero’s control, such as legislative or political changes or developments, market dynamics, cyberattacks, weather events, and other matters affecting our operations or the demand for our products. These factors also include, but are not limited to, the uncertainties that remain with respect to the COVID-19 pandemic, variants of the virus, governmental and societal responses thereto, including requirements and mandates with respect to vaccines, vaccine distribution and administration levels, and the adverse effects the foregoing may have on our business or economic conditions generally. For more information concerning these and other factors that could cause actual results to differ from those expressed or forecasted, see Valero’s annual report on Form 10-K, the “Risk Factors” section included in the Offer to Purchase, quarterly reports on Form 10-Q, and other reports filed with the Securities and Exchange Commission.
About Valero
Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of transportation fuels and petrochemical products. Valero is a Fortune 500 company based in San Antonio, Texas, and owns 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day and 12 ethanol plants with a combined production capacity of approximately 1.6 billion gallons per year. The petroleum refineries are located in the United States (U.S.), Canada and the United Kingdom (U.K.), and the ethanol plants are located in the Mid-Continent region of the U.S. Valero is also a joint venture partner in Diamond Green Diesel, which owns and operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel owns North America’s largest biomass-based diesel plant. Valero sells its products in the wholesale rack or bulk markets in the U.S., Canada, the U.K., Ireland and Latin America. Approximately 7,000 outlets carry Valero’s brand names.
Investors:
Homer Bhullar, Vice President – Investor Relations and Finance, 210-345-1982
Eric Herbort, Senior Manager – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992
Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002
SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE: VLO, “Valero”) announced today that its previously announced cash tender offer (the “Any and All Tender Offer”) for any and all of its outstanding 2.700% Senior Notes due 2023 (the “Any and All Notes”) (CUSIP No. 91913YAX8) expired at 5:00 p.m., New York City time, on November 24, 2021. According to information provided by D.F. King & Co., Inc., the tender and information agent for the Any and All Tender Offer, $594,520,000 aggregate principal amount of the Any and All Notes were validly tendered and not validly withdrawn prior to or at the expiration of the Any and All Tender Offer. This amount excludes $202,000 aggregate principal amount of the Any and All Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase, dated November 18, 2021 (the “Offer to Purchase”), and the related notice of guaranteed delivery provided in connection with the Any and All Tender Offer, which remain subject to the holders’ performance of the delivery requirements under such procedures. The obligation of Valero to accept any of the Any and All Notes tendered and to pay the consideration for such Any and All Notes is subject to satisfaction or waiver of certain conditions and other terms set forth in the Offer to Purchase, including a financing condition. If the conditions are satisfied or waived, Valero expects to pay for such Any and All Notes on November 30, 2021 (the “Any and All Settlement Date”).
Holders of Any and All Notes that validly tendered and did not validly withdraw their Any and All Notes prior to the expiration of the Any and All Tender Offer are expected to receive total consideration of $1,025.65 for each $1,000 principal amount of the Any and All Notes tendered and accepted for payment, in each case plus accrued and unpaid interest up to but not including the Any and All Settlement Date.
Valero intends to fund the purchase of the Any and All Notes with a portion of the proceeds from its previously announced offering of Senior Notes, which is expected to close on November 29, 2021, and cash on hand.
Valero has retained J.P. Morgan Securities LLC and Citigroup Global Markets Inc. as Lead Dealer Managers, BofA Securities, Inc., Mizuho Securities USA LLC and MUFG Securities Americas Inc. as Co-Dealer Managers (collectively, the “Dealer Managers”) for the Any and All Tender Offer. Valero has retained D.F. King & Co., Inc. as the tender and information agent for the Any and All Tender Offer. For additional information regarding the terms of the Any and All Tender Offer, please contact: J.P. Morgan Securities LLC at (866) 834-4666 (toll free) or (212) 834-3424 (collect); or Citigroup Global Markets Inc. at (800) 831-9146. Requests for documents and questions regarding the tendering of securities may be directed to D.F. King & Co., Inc. by telephone at (212) 269-5550 (for banks and brokers only) or (800) 334-0384 (for all others, toll-free), by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or at www.dfking.com/vlo or to the Dealer Managers at their respective telephone numbers.
This announcement is for information purposes only and does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Any and All Tender Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law.
Safe-Harbor Statement
Statements contained in this press release that state Valero’s or its management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words “anticipate,” “believe,” “expect,” “plan,” “intend,” “scheduled,” “estimate,” “project,” “projection,” “predict,” “budget,” “forecast,” “goal,” “guidance,” “target,” “could,” “would,” “should,” “may,” “strive,” “seek,” “potential,” “opportunity,” “aimed,” “considering,” “continue,” and similar expressions identify forward-looking statements. Forward-looking statements in this press release include those relating to expected timing of settlement and total consideration. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of Valero’s control, such as legislative or political changes or developments, market dynamics, cyberattacks, weather events, and other matters affecting our operations or the demand for our products. These factors also include, but are not limited to, the uncertainties that remain with respect to the COVID-19 pandemic, variants of the virus, governmental and societal responses thereto, including requirements and mandates with respect to vaccines, vaccine distribution and administration levels, and the adverse effects the foregoing may have on our business or economic conditions generally. For more information concerning these and other factors that could cause actual results to differ from those expressed or forecasted, see Valero’s annual report on Form 10-K, the “Risk Factors” section included in the Offer to Purchase, quarterly reports on Form 10-Q, and other reports filed with the Securities and Exchange Commission.
About Valero
Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of transportation fuels and petrochemical products. Valero is a Fortune 500 company based in San Antonio, Texas, and owns 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day and 12 ethanol plants with a combined production capacity of approximately 1.6 billion gallons per year. The petroleum refineries are located in the United States (U.S.), Canada and the United Kingdom (U.K.), and the ethanol plants are located in the Mid-Continent region of the U.S. Valero is also a joint venture partner in Diamond Green Diesel, which owns and operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel owns North America’s largest biomass-based diesel plant. Valero sells its products in the wholesale rack or bulk markets in the U.S., Canada, the U.K., Ireland and Latin America. Approximately 7,000 outlets carry Valero’s brand names.
Valero Contacts
Investors:
Homer Bhullar, Vice President – Investor Relations and Finance, 210-345-1982
Eric Herbort, Senior Manager – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992
Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002
WM Named Category Leader for Fourth Consecutive Year among World's Top Companies
HOUSTON--(BUSINESS WIRE)--$WM--Waste Management (NYSE: WM) today announced its listing on the 2021 Dow Jones Sustainability Index (DJSI) World and North America Indices for its commitment to environmental, social and corporate governance (ESG) leadership and its commitment to responsible and sustainable business practices.
This marks the fourth year for WM to be the category leader in Commercial & Professional Services. Overall, WM has been represented on the DJSI since 2004.
To achieve its best-in-category recognition, WM ranked as follows on the DJSI:
“As we continue our sustainability journey, we meet and exceed the stringent sustainability standards to be ranked on the DJSI among other leading companies around the world because of the tireless commitment to progress by our nearly 50,000 team members,” said Tara Hemmer, senior vice president and chief sustainability officer, WM. “It’s an honor to be recognized with this distinction as WM continues to focus on our mission of always working for a sustainable tomorrow.”
WM also recently announced it expects to invest $200 million in recycling infrastructure in 2022, bringing the company’s investment in new and upgraded recycling facilities to over $700 million since 2018. In addition, the company shared the WM 2021 Sustainability Report, where WM noted achievements including how the company implemented employee uniforms made of Unifi’s REPREVE fiber, woven with recycled plastic; exceeded its 2025 goal to power more than half of its compressed natural gas fleet with renewable natural gas (RNG); and expanded its Your Tomorrow benefit paying for education and upskilling opportunities for both employees and their dependents starting in 2022.
Visit WM’s sustainability website at https://sustainability.wm.com/ to learn more about how the company is always working for a sustainable tomorrow.
ABOUT WASTE MANAGEMENT
WM (Waste Management) is the leading provider of comprehensive environmental services in North America. Through its subsidiaries, WM provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator, and owner of landfill gas-to-energy facilities in the United States. To learn more information about WM, please visit wm.com.
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. S&P Dow Jones Indices is a division of S&P Global, which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit spglobal.com/spdji.
FORWARD-LOOKING STATEMENTS
Waste Management, from time to time, provides estimates, comments on expectations relating to future periods and makes statements of opinion, view or belief about current and future events. This press release contains such forward-looking statements, including all statements regarding the amount and timing of future investment in recycling infrastructure. You should view these statements with caution. They are based on the facts and circumstances as of the date the statements are made and are subject to risks and uncertainties that could cause actual results to be materially different. Please see Part I, Item 1A of Waste Management’s most recently filed Annual Report on Form 10-K, as supplemented by subsequent Form 10-Qs, available on the “Investors” page of www.wm.com, for information regarding such risks and uncertainties. Waste Management assumes no obligation to update any forward-looking statement, whether as a result of future events, circumstances or developments or otherwise.
Janette Micelli
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Ed Egl
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DUBLIN--(BUSINESS WIRE)--The "Marine Electric Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global marine electric vehicle market grew at a CAGR of around 8% during 2015-2020. Looking forward, the global marine electric vehicle market is projected to exhibit moderate growth during the next five years.
A significant shift in preferences from diesel-powered to hybrid electric boats is positively influencing the sales of marine EVs for both commercial and recreational purposes.
Due to the escalating demand for shipping and rising environmental concerns, there is an increase in the need for low and zero-emission vessels (ZEVs). This, in confluence with the emerging trend of digitalization and automation and the depletion of fossil fuels, represents one of the key factors bolstering the growth of the marine EV market.
Additionally, the inflating disposable incomes are promoting the sales of seagoing enclosed yachts, ferries, workboats, personal submarines, scuba sea scooters and autonomous underwater vehicles (AUVs). This is also supported by the burgeoning travel and tourism sector, which is increasing the adoption of surface boats for leisure and recreational activities.
Apart from this, the electric unmanned underwater vehicles (UUVs) are gaining traction in the oil and gas industry for offshore hydrocarbon extraction, detailed mapping of the ocean floor and scientific research. They can be integrated with high-definition (HD) cameras that transmit data to allow the inspection of the underwater environment efficiently.
Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global marine electric vehicle market, along with forecasts at the global, regional and country level from 2021-2026. The report has categorized the market based on region, vehicle type, propulsion type and application.
Breakup by Vehicle Type
Breakup by Propulsion Type
Breakup by Application
Breakup by Region
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
Key Questions Answered in the Report
For more information about this report visit https://www.researchandmarkets.com/r/pnx3nj
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--$XPRO #XPRO--Expro (NYSE: XPRO), a leading provider of energy services, today launches Galea™ – the world’s first fully autonomous well intervention system – to maximize production while reducing intervention costs, HSE risks and environmental impact.
Galea™ replaces larger, conventional and more labor-intensive wireline rig-ups for a range of slickline operations such as solids removal, plug setting/pulling and logging surveys. Galea™ can be configured in a variety of operating modes to suit a range of applications onshore and offshore.
In fully autonomous mode, Galea™ deploys a tool string into the well either at regular intervals or as defined by the well conditions. With continuous remote monitoring available from anywhere in the world, Galea™ can increase production at reduced operating costs and remove personnel from the worksite while significantly reducing the carbon footprint of intervention operations.
In semi-autonomous mode, Galea™ performs a pre-programmed intervention sequence, initiated locally or remotely. This benefits multi-well platforms or pads where regular interventions – such as paraffin wax scraping operations – are required. A small, self-contained intervention package permanently located at the well site eliminates the need for a wireline unit or truck.
The system also reduces the impact of operations on the environment around the well site. Galea has several fail-safe features to ensure containment and eliminate potential wire-breaks during interventions.
In manual mode, Galea™ enables quick rig-up intervention compared to conventional operations. When not in use, the system occupies a fraction of the well site or deck-space required for a standard slickline winch unit and PCE package. A single lift, enclosed rotating parts and the elimination of slickline wire across open deck-space enhance the system’s safety credentials.
Max Tseplic, Expro’s Vice President of Well Intervention said:
“Galea™ maximizes production while reducing operational overheads by using an intelligent, autonomous system to perform a variety of slickline operations.
“Frequent, routine interventions typically involve significant manpower and equipment, which are costly. Planning these operations is often restricted by the availability of hardware and crew. The environmental impact of regular interventions, and the movement of vehicles and equipment, are also significant, as is the HSE risk to crew in traveling to and from well sites and performing operations.
“Galea™ eliminates these challenges by removing the movement of people and equipment to the well site for each intervention. Remote control and 24/7 monitoring reduce HSE risk and allow production to continue in inaccessible areas. The reduced environmental impact of using Galea™ helps asset managers comply with environmental regulations.”
Galea™ is the latest addition to Expro’s portfolio of future-facing technologies, which together with best-in-class safety and service quality, allows Expro to deliver cost-effective, innovative solutions to increase production and reduce emissions.
Recognized for extraordinary performance, championing safety and long-standing partnerships, Expro is focused on unleashing the power of data and digital transformation as key drivers that enable customers to make more timely and informed decisions.
For more information on Galea™ watch this video and visit Expro’s website.
Expro
Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and best-in-class safety and service quality. The company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well integrity and intervention.
Founded in 1938, Expro has more than 6,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries with over 100 locations.
For more information, please visit: expro.com and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.
Expro – Hannah Rumbles
+44 (0) 1224 796729
XIAMEN, China--(BUSINESS WIRE)--Xiamen’s marine economy is expected to embrace high-quality development during the 14th Five-Year Plan period (2021-25) as it has recently been guaranteed a leading city status in developing marine sectors in East China’s Fujian province.
The municipal government released two development plans, which noted that efforts should be made to enhance its role in bolstering the province's marine economy.
According to the plans, Xiamen will set up strategic emerging marine industrial clusters by promoting the commercialization of scientific and technological achievements.
Efforts will be made to speed up the construction of a national demonstration zone for the marine economy. Marine biological industries will also be cultivated, and build global supply bases for marine products.
Xiamen will foster new drivers of growth for marine economy, such as building itself into a Southeast International Shipping Center and improving the efficiency of the ocean shipping transportation system.
The plan noted that as of 2023, Xiamen will set up a modern marine industrial system supported by emerging marine industries, modern fisheries, port logistics, and high-end coastal tourism.
The local government has also stepped up efforts to improve basic research capability, and build a batch of marine scientific research institution. A wide range of supportive measures have been rolled out to further stimulate the vitality of scientific and technological innovation.
A high-tech industrial park for marine industry is expected to be built in Xiamen, which will push forward the development of high-end marine industries.
Supported by strong scientific and technological prowess, the output value of Xiamen’s marine industry will reach 300 billion yuan by 2025, which is estimated to account for 30 percent of the city's total GDP.
As a key port city of the 21st Century Maritime Silk Road, Xiamen will beef up efforts to attract world-class marine enterprises and core technologies, encourage Xiamen enterprises to go abroad, and deepen opening-up and cooperation in the marine economy.
The city will develop itself into a world-class port, an international coastal tourism city, an ocean cultural exchange center for countries and regions involved in the Belt and Road Initiative, as well as a global model for marine ecological governance.
Lorraine Yuan
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13911130781
Leading global supplier of coatings and composites used in wind turbine blades and automotive structural components to expand Westlake’s chemicals portfolio
HOUSTON--(BUSINESS WIRE)--Westlake Chemical Corporation (NYSE: WLK), today announced that it has entered into a definitive agreement with Hexion Inc. to acquire Hexion’s global epoxy business for approximately $1.2 billion. Based in Rotterdam, The Netherlands, Hexion’s epoxy business is an industry leader in the manufacture and development of specialty resins, coatings and composites for a variety of industries, including high-growth and sustainability-oriented end-uses such as wind turbine blades and light-weight automotive structural components. In the twelve months ended September 30, 2021, Hexion’s epoxy business had net sales of approximately $1.5 billion.
With this transaction, which is anticipated to be completed in the first half of 2022 following customary closing conditions, Westlake will significantly expand its integrated business by adding a downstream portfolio of coatings and composite products to its leading chloro-vinyls businesses.
“Light-weighting is a critical feature for the manufacture of structural components for automobiles and for renewable energy, particularly the composite blades used by wind turbines, and epoxies are key ingredients for these sustainable products,” said Westlake President and Chief Executive Officer Albert Chao. “The industries served by Hexion Epoxy are very attractive to Westlake and the business is expected to be a synergistic addition to Westlake’s existing businesses. We look forward to welcoming the Hexion epoxy employees to the Westlake family and realizing the tremendous opportunities to grow the combined businesses.”
Hexion Epoxy is a global leading producer of epoxy resins, modifiers and curing agents for high-performance materials, coatings and composites. The fully-integrated business includes upstream base epoxy resins and intermediates delivered as liquid or solid epoxy resins, as well downstream specialty epoxy resins used in coatings and composites. Hexion Epoxy operates globally on three continents with eight manufacturing facilities and five research and development labs located in Asia, Europe and the United States, as well as tolling sites in Asia.
About Westlake
Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, we provide the building blocks for vital solutions — from building products and infrastructure materials, to packaging and healthcare products, to automotive and consumer goods. For more information, visit the company's web site at www.westlake.com.
Forward-Looking Statements
The statements in this release that are not historical statements, including statements regarding the expected timing of closing, whether required regulatory approval will be obtained, and potential benefits of the transaction are forward-looking statements within the meaning of the U.S. securities laws. These forward-looking statements are subject to significant risks and uncertainties, many of which are beyond Westlake’s control. Actual results could differ materially, based on factors including, but not limited to: the timing to consummate the proposed transaction; the conditions to closing of the proposed transaction may not be satisfied or the closing of the proposed transaction otherwise may not occur; the risk that regulatory approval is not obtained or is obtained subject to conditions that are not anticipated; the diversion of management time on transaction-related issues; and other risks and uncertainties described in Westlake’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the Securities and Exchange Commission (“SEC”) in February 2021, Westlake’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, which was filed with the SEC in November 2021, Westlake’s recent Current Reports on Form 8-K, and Westlake’s other SEC filings. These filings also discuss some of the important risk factors that may affect Westlake’s business, results of operations and financial condition. Westlake undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Media Relations – L. Benjamin Ederington – 1-713-585-2900
Investor Relations – Steve Bender – 1-713-585-2900
KILGORE, Texas--(BUSINESS WIRE)--Martin Midstream Partners L.P. (NASDAQ: MMLP) (“MMLP” or the “Partnership”) announced today that members of executive management will host virtual meetings during the 2021 Bank of America Leveraged Finance Conference taking place November 30 – December 2, 2021. In addition, Bob Bondurant, Chief Financial Officer, Randy Tauscher, Chief Operating Officer and Sharon Taylor, Chief Financial Officer, will be live via webcast at 2:15 Eastern on Wednesday, December 1st. Those wishing to view the live or archived webcast should visit the Events and Presentations section under Investor Relations on the Partnership’s website at www.MMLP.com.
About Martin Midstream Partners
Martin Midstream Partners L.P. is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership's primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn and Facebook.
MMLP-E
Sharon Taylor – Chief Financial Officer
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(877) 256-6644
DUBLIN--(BUSINESS WIRE)--The "Aerostat Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Aerostat Systems estimated at US$8.1 Billion in the year 2020, is projected to reach a revised size of US$20.9 Billion by 2027, growing at a CAGR of 14.5% over the analysis period 2020-2027.
Balloon, one of the segments analyzed in the report, is projected to record a 13.8% CAGR and reach US$10.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Airships segment is readjusted to a revised 16.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.4 Billion, While China is Forecast to Grow at 14% CAGR
The Aerostat Systems market in the U.S. is estimated at US$2.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$3.6 Billion by the year 2027 trailing a CAGR of 14% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.7% and 12.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.8% CAGR.
Hybrid Segment to Record 12.8% CAGR
In the global Hybrid segment, USA, Canada, Japan, China and Europe will drive the 12.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$850.3 Million in the year 2020 will reach a projected size of US$2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.5 Billion by the year 2027.
Select Competitors (Total 44 Featured):
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
III. MARKET ANALYSIS
IV. COMPETITION
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