RED DEER, Alberta--(BUSINESS WIRE)--Red Deer-based Azolla Hydrogen Ltd. is proud to announce a private placement to accredited investors and the expansion of the Board of Directors and the Advisory Board.

“We are honored to welcome Mr. Bilton, Mr. Goertzen, and Mr. Collicutt to our board,” said Jared Sayers, Azolla’s President and CEO. “These new members’ combined industry experience and strong strategic leadership skills will be invaluable to Azolla as we grow our business and pursue our strategic goals including increasing employment in Alberta.”

The New Board of Directors includes Bob Bilton, Blair Goertzen, and Steven Collicutt. Mr. Bilton is the head of Bilton Welding and Manufacturing Ltd., which is Azolla’s strategic investor. The cooperation between Bilton and Azolla solidifies Azolla’s ability to manufacture their environmentally friendly hydrogen-producing technology and helps increase employment in Alberta. Blair Goertzen is the President and CEO of Enerflex, which is a natural gas compression, oil and gas processing, refrigeration, and electrical power generation equipment business. Enerflex’s main product lines are engineered systems, service, and equipment rentals which the company offers via its well-established network with 50 locations and facilities across 16 countries. Mr. Goertzen brings senior leadership experience from companies like IPEC Ltd., Precision Drilling, and Enserv Corporation. Mr. Goertzen also serves on the board of Keyera, one of Canada’s largest midstream oil and gas operators servicing oil and gas producers in Western Canada. Steven Collicutt is the CEO of Collicutt Energy, an industry leader in power generation solutions with a full range of services from design and sales to servicing and parts. With these additions to our board, Azolla becomes more well-rounded and energized for future growth.

“Azolla also welcomes new members to our advisory board. Olga Makoyeva, Steve Davidson, Darryl Milroy, and Rod Evans bring their individual and collective expertise to further ensure the future success of Azolla in Alberta and beyond,” says Jared Sayers, Azolla’s President and CEO.

Ms. Makoyeva, an Associate Director of wavespace™ and Innovation strategy at EY, is a senior professional with 12+ years experience who develops and helps to execute business strategies and integrations for large organizations and worked with CEOs, board members, and C-suite executives. Ms. Makoyeva also holds an Executive MBA from Ivey Business School and a Bachelor of Arts and Sciences from McGill University.

Mr. Davidson, the Director of National Multi Unit Sales at Intercity Packers Meat & Seafood, is a passionate and creative leader, expert relationship builder, channel developer, negotiator, and sales strategist. Mr. Davidson has over 16 years of experience in sales and strategy development.

Mr. Milroy is the Associate Vice President, Digital Platform at Canadian Tire Corporation. Mr. Milroy is a senior retail professional and merchandising leader with over 15 years of progressive experience in the retail industry. He has held a range of senior leadership roles with leading multinational retailers in merchandising and e-commerce. Mr. Milroy has a broad range of large-scale strategic project experience.

Rod Evans, a principal of Bighorn Capital Corp, is a successful businessman founding and growing Upside Engineering Ltd. to a medium sized engineering firm focusing on production facilities and major pipelines and facilities servicing the oil and gas liquids pipeline transportation sector. Under his leadership, Upside earned the privilege of becoming one of Canada’s Best Managed Companies before selling to Hatch Ltd. Mr. Evans is a passionate leader always searching for new technology innovations to improve business performance.

About Azolla Hydrogen Ltd.:

Azolla Hydrogen is an Alberta based start-up with a focus on the Alberta, California, and North American hydrogen economy. We help companies transition from a default reliance on fossil fuels. As we edge toward decarbonizing the energy sector, hydrogen as a transportation fuel is gaining influence. Azolla Hydrogen has identified a pathway to generate low-GHG hydrogen that is scalable and not reliant on the AB grid as power for electrolysis or fossil fuels for SMR.

For more information: Azolla Hydrogen media contact: Jared Sayers This email address is being protected from spambots. You need JavaScript enabled to view it.

NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products announced today that it will participate in Capital Link Company Presentation Series.

On Monday, January 24, 2022, at 10:00 am ET its senior management team, Lois Zabrocky, CEO and Jeffrey Pribor, CFO, will go through a presentation on the Company's current operations, business development, growth prospects and outlook of the tanker sector.

You can register for the webinar below:
Date: Monday, January 24, 2022
Time: 10:00 am EST
Register: https://webinars.capitallink.com/2022/company_presentation/

On the registration page, please register for the presentation slated for January 24, 2022, at 10 am ET.

An email confirmation will be sent back and will include the link to the Company presentation.

LIVE Q&A SESSION - Submitting Questions
Participants can submit their questions either during the webinar through the online platform or can email our team at This email address is being protected from spambots. You need JavaScript enabled to view it..

1x1 MEETINGS WITH COMPANY MANAGEMENT
Institutional Investors can request follow up meeting(s) with INSW’s management through the 1x1 Meetings Section on the Registration Page or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..

About International Seaways, Inc.
International Seaways, Inc. (NYSE: INSW) is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 86 vessels, comprised of 13 VLCCs (including three newbuildings), 13 Suezmaxes, five Aframaxes/LR2s, eight Panamaxes/LR1s and 41 MR tankers and four Handy tankers. Through joint ventures, it has ownership interests in two floating storage and offloading service vessels. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY. Additional information is available at https://www.intlseas.com.

Forward-Looking Statements
This release contains forward-looking statements. In addition, the Company may make or approve certain statements in future filings with the Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of the Company. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate to the Company’s planned merger with Diamond S and plans to issue dividends, its prospects, including statements regarding vessel acquisitions, trends in the tanker markets, and possibilities of strategic alliances and investments. Forward-looking statements are based on the Company’s current plans, estimates and projections, and are subject to change based on a number of factors. Investors should carefully consider the risk factors outlined in more detail in the Annual Report on Form 10-K for 2020 for the Company, the Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, the Company’s Registration Statement on Form S-4 dated May 5, 2021, the Company’s Amended Registration Statement on Form S-4 dated June 4, 2021, and in similar sections of other filings made by the Company with the SEC from time to time. The Company assumes no obligation to update or revise any forward-looking statements. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by the Company with the SEC.

Investor Relations & Media:
Tom Trovato, International Seaways, Inc.
(212) 578-1602
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DUBLIN--(BUSINESS WIRE)--Power management company Eaton (NYSE:ETN) today announced that Kurt McMaken has been named senior vice president, operations finance and finance transformation. In this role, McMaken will lead the Global Operations and Transformation organization. This organization includes the company’s financial planning and analysis and operations finance teams and has responsibility for the development of finance technology enhancements. McMaken will report to Tom Okray, Eaton’s executive vice president and chief financial officer, and will be a member of the senior leadership team.

Since joining Eaton in 2001, McMaken has held a number of senior leadership roles in the company including senior vice president, corporate development and treasury; vice president, finance, Electrical, for Europe, the Middle East and Africa (EMEA); corporate president, EMEA; and most recently senior vice president, finance and planning, Electrical Sector.

McMaken holds a bachelor’s degree in Business Administration and Accounting from Georgetown University and an MBA in Strategy and Finance from The University of Chicago Booth School of Business.

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 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 87,000 employees. For more information, visit www.eaton.com.

Jennifer Tolhurst, +1 (440) 523-4006

• With over two decades of experience in the hardware, sustainability and aerospace sectors, Mark will focus on ensuring Archer’s finance infrastructure robustly supports the company’s progress towards its goal of launching manufacturing operations in 2023 and achieving FAA Type Certification in 2024
• After 11.5 years at Bloom Energy and 25 years in corporate finance, Mark brings a unique understanding of how to build and maintain finance organizations in innovative sustainability companies with high-growth trajectories
• As Archer matures its financial and investor relations functions following its debut on the NYSE in 2021, Mark will bring his experience gained through helming finance organizations at multiple companies through transition from private to public entities to lead and fully build out Archer’s finance team

PALO ALTO, Calif.--(BUSINESS WIRE)--Archer Aviation Inc. (NYSE: ACHR) today announced the appointment of Mark Mesler as the Company’s Chief Financial Officer.

Following the company’s NYSE public debut in 2021, Mark will lead all aspects of Archer’s financial operations, including investor relations, financial planning and analysis, treasury, accounting and operations finance. His immediate focus will be on ensuring the company’s product development and manufacturing roadmaps are supported by robust financial planning and cash management strategies. He will also provide critical focus to strengthen Archer’s investor and research analyst relationships and scale its industry-leading finance team.

Having spent over 11 years with Bloom Energy, Mark helped lead the company’s IPO on the New York Stock Exchange in July 2018. During his tenure at Bloom, he was responsible for closing all corporate equity and debt financings prior to the company’s IPO, in addition to scaling the finance team and supporting infrastructure as the company transitioned into the public markets. Most recently, Mark held the CFO role at Volansi, where he provided strategic and financial leadership for the autonomous drone technology and logistics company. Additionally, Mark previously held the position of Chief Financial Officer and Vice President of Operations at Aquest Systems and Director of Finance at KLA-Tencor.

“I have spent a large part of my career advancing the application of clean energy, so joining Archer, with its clear vision of enabling sustainable aerial mobility, is a natural fit for me. Having recently developed the finance infrastructure in a business that is transforming the logistics sector with VTOL drone technology, I am now thrilled to be transitioning into the consumer eVTOL aircraft market to scale the finance function as the company enters its next phase of growth and development,” said Mark Mesler, Archer CFO. “The potential for eVTOL to change the way people live and travel is on the cusp of becoming reality, and I look forward to the challenge of stewarding the company’s financial resources to deliver on that vision.”

“Having completed our first successful test flight in December 2021, Archer is entering its next critical phase of development and adding Mark to our leadership team adds tremendous strength to our ability to deliver on our go-to-market strategy. As a seasoned veteran of senior strategic financial roles in the sustainable energy and aerospace sectors, Mark will bring a highly honed perspective that will help us deliver growth in the most cost-effective way,” said Brett Adcock, Archer co-founder and co-CEO.

“Mark’s track record in scaling newly public companies will be a significant asset to Archer as we progress swiftly and efficiently towards our key business milestones in 2022 and beyond,” added Adam Goldstein, Archer co-founder and co-CEO. “His operations-centric focus combined with his track record of driving financial performance by partnering with functional and business unit management teams will help drive our success. Having someone like Mark onboard with his deep understanding of the challenges we face around sustainability and urban air mobility is undoubtedly a great win for us.”

Mark graduated with Highest Distinction from Penn State University with a B.S. in Finance and holds an MBA in Finance from Carnegie Mellon University’s Tepper School of Business. Mark replaces Ben Lu, who will remain as a consultant to Archer during Mark’s transition into his role.

For continued updates visit www.archer.com and follow along on social media.

About Archer

Archer’s mission is to advance the benefits of sustainable air mobility. Archer’s goal is to move people throughout the world's cities in a quick, safe, sustainable, and cost-effective manner. Archer is designing and developing electric vertical takeoff and landing aircraft for use in urban air mobility networks. Archer's team is based in Palo Alto, CA. To learn more, visit www.archer.com.

Source: Archer
Text: ArcherIR

For Media
Louise Bristow
Archer
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For Investors
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• Fourth-quarter revenue of $6.22 billion increased 6% sequentially and 13% year-on-year
• Fourth-quarter GAAP EPS of $0.42 increased 8% sequentially and 56% year-on-year
• Fourth-quarter EPS, excluding charges and credits, of $0.41 increased 14% sequentially and 86% year-on-year
• Fourth-quarter cash flow from operations was $1.93 billion and free cash flow was $1.30 billion
• Board approved quarterly cash dividend of $0.125 per share

• Full-year revenue was $22.9 billion
• Full-year GAAP EPS was $1.32
• Full-year EPS, excluding charges and credits, was $1.28
• Full-year cash flow from operations was $4.65 billion and free cash flow was $3.00 billion

HOUSTON--(BUSINESS WIRE)--Regulatory News:

Schlumberger Limited (NYSE: SLB) today reported results for the fourth-quarter and full-year 2021.

Fourth-Quarter Results

Schlumberger CEO Olivier Le Peuch commented, “Strengthening activity, accelerating digital sales, and outstanding free cash flow performance combined to deliver another quarter of remarkable financial results to close the year with great momentum.

“In retrospect, we started 2021 with a constructive outlook and an ambition to visibly expand margins and deliver robust free cash flow, while remaining focused on capital discipline.

“In fact, we concluded the year with 88% growth in EPS, excluding charges and credits; adjusted EBITDA margin of 21.5%; and $3.0 billion in free cash flow. The adjusted EBITDA margin—which represents a year-on-year expansion of 320 basis points (bps)—is the highest level since 2018. We restored our North America pretax operating margin to double-digits and expanded our international margin, both exceeding prepandemic 2019 levels.

“This was also a momentous year for us in terms of our commitment to sustainability. We announced our comprehensive 2050 net-zero commitment, inclusive of Scope 3 emissions, and launched our Transition Technologies* portfolio.

“I am extremely proud of the full-year results, as we operationalized our returns-focused strategy and surpassed our financial ambitions with resounding success.

“Turning to the fourth-quarter results, sequential revenue growth was broad based across all geographies and Divisions, led by Digital & Integration.

“International revenue of $4.90 billion grew 5% sequentially, driven primarily by strengthening activity, increased digital sales, and early benefits of pricing improvements. The sequential revenue increase was led by growth in Europe/CIS/Africa due to strong offshore activity in Africa and new projects in Europe. This growth was complemented by project startups and activity gains in the Middle East & Asia and sustained activity growth in Latin America. The fourth-quarter international revenue performance represents a 13% year-on-year increase, enabling us to accomplish our double-digit revenue growth ambition for the second half of 2021 when compared to the same period in 2020.

“In North America, revenue of $1.28 billion grew 13% sequentially, outperforming the rig count growth. The sequential growth was driven by strong offshore and land drilling activity and increased exploration data licensing in the US Gulf of Mexico and the Permian.

“Among the Divisions, Digital & Integration revenue increased 10% sequentially, driven by very strong digital sales, as the adoption of our digital offering continues to accelerate, and from increased exploration data licensing sales. Reservoir Performance revenue increased 8% sequentially from higher intervention activity in Latin America, new stimulation projects and activity gains in the Middle East & Asia, and increased offshore evaluation activity in North America. Well Construction revenue increased 5% due to higher land and offshore drilling activity both in North America and internationally. Similarly, Production Systems revenue grew 5% sequentially from new offshore projects and year-end sales.

“Overall, our fourth-quarter pretax segment operating income increased 9% sequentially, attaining the highest quarterly operating margin level since 2015. Contributing to this remarkable performance are the accretive effect of accelerating digital sales and early signs of pricing improvements, particularly when driven by new technology adoption and performance differentiation.

“Looking ahead into 2022, the industry macro fundamentals are very favorable, due to the combination of projected steady demand recovery, an increasingly tight supply market, and supportive oil prices. We believe this will result in a material step up in industry capital spending with simultaneous double-digit growth in international and North American markets. Absent any further COVID-related disruption, oil demand is expected to exceed prepandemic levels before the end of the year and to further strengthen in 2023. These favorable market conditions are strikingly similar to those experienced during the last industry supercycle, suggesting that resurgent global demand-led capital spending will result in an exceptional multiyear growth cycle.

“Schlumberger is well prepared to fully seize this growth ahead of us. We have entered this cycle in a position of strength, having reset our operating leverage, expanded peer-leading margins across multiple quarters, and aligned our technology and business portfolio with the new industry imperatives. Throughout 2021, we continued to strengthen our core portfolio, enhanced our sustainability leadership, successfully advanced our digital journey, and expanded our new energy portfolio.

“The combination of our performance and returns-focused strategy is resulting in enduring customer success and higher earnings. As such, we have increased confidence in reaching our midcycle adjusted EBITDA margin ambition earlier than anticipated and sustaining our financial outperformance. I am truly excited about this year and the outlook for Schlumberger—rooted in capital discipline and superior returns while also continuing to lead technology, digital, and clean energy innovation—to enable performance and sustainability for the global energy industry.”

Other Events

On November 30, 2021, Schlumberger deposited sufficient funds with the trustee for its $1.0 billion of 2.40% Senior Notes due May 2022 to satisfy and discharge all of its legal obligations relating to such notes.

On January 20, 2022, Schlumberger’s Board of Directors approved a quarterly cash dividend of $0.125 per share of outstanding common stock, payable on April 7, 2022 to stockholders of record on February 9, 2022.

Fourth-Quarter Revenue by Geographical Area

North America

North America revenue of $1.28 billion increased 13% sequentially, driven by strong offshore and land drilling activity and increased exploration data licensing in the US Gulf of Mexico and the Permian.

International

Revenue in Latin America of $1.20 billion increased 4% sequentially due to double-digit revenue growth in Argentina, Brazil, and Mexico, mainly from robust Well Construction activity. Reservoir Performance and Production Systems revenue also increased but was partially offset by a temporary production interruption in our Asset Performance Solutions (APS) projects in Ecuador due to pipeline disruption.

Europe/CIS/Africa revenue of $1.59 billion increased 7% sequentially, due to higher revenue in Europe and Africa driven by strong offshore activity, increased digital sales, and new projects—mainly in Turkey—that benefited Production Systems. These increases, however, were partially offset by reduced Reservoir Performance and Well Construction activity in Russia and Scandinavia due to the onset of seasonal effects.

Revenue in the Middle East & Asia of $2.11 billion increased 4% sequentially due to new projects and activity gains that benefited Reservoir Performance in Saudi Arabia, Oman, Australia, Qatar, Indonesia, and Iraq. Similarly, Well Construction revenue grew from new projects in Iraq and the United Arab Emirates, and from increased drilling activity in Qatar, Kuwait, and Indonesia. Growth was also driven by higher digital sales in China and Malaysia. These increases, however, were partially offset by lower sales of production systems due to delivery delays as a result of logistics constraints.

Fourth-Quarter Results by Division

Digital & Integration

Digital & Integration revenue of $889 million increased 10% sequentially, propelled by accelerated digital sales internationally, particularly in Europe/CIS/Africa and Middle East & Asia, and increased exploration data licensing sales in North America offshore and the Permian. These increases, however, were partially offset by the effects of a temporary production interruption in our APS projects in Ecuador due to pipeline disruption.

Digital & Integration pretax operating margin of 38% expanded 268 bps sequentially, due to improved profitability in digital and exploration data licensing.

Reservoir Performance

Reservoir Performance revenue of $1.29 billion increased 8% sequentially due to higher intervention activity across the international offshore markets, mainly in the UK and Latin America, and from new stimulation projects and activity gains in the Middle East & Asia, particularly in Saudi Arabia. These increases, however, were partially offset by the onset of seasonal effects in Russia and Scandinavia. North America revenue grew from higher offshore evaluation activity.

Reservoir Performance pretax operating margin of 16% was essentially flat sequentially. Profitability improved from higher offshore and exploration activity but was offset by technology mix and seasonality effects in the Northern Hemisphere.

Well Construction

Well Construction revenue of $2.39 billion increased 5% sequentially, driven by higher measurements and drilling fluids activity and increased drilling equipment sales. North America revenue increased due to higher rig count on land and increased well construction activity in the US Gulf of Mexico. International revenue growth was driven by the double-digit growth in Latin America, mainly in Mexico and Argentina, in Sub-Sahara Africa, and in the Middle East in Kuwait, Qatar, Iraq, and UAE. These increases were partially offset by seasonal effects in Russia and Scandinavia.

Well Construction pretax operating margin of 15% was essentially flat sequentially as the favorable mix of increased activity and new technology was offset by seasonal effects in the Northern Hemisphere.

Production Systems

Production Systems revenue of $1.76 billion increased 5% sequentially. Revenue increases in subsea, well production, and midstream production systems were offset by a revenue decline in surface production systems. International activity was driven by double-digit growth in Europe/CIS/Africa—mainly from strong project progress in Angola, Gabon, and Mozambique, new projects in Turkey, and increased activity in Scandinavia and Russia & Central Asia—and by growth in Latin America, mainly in Brazil and Ecuador. This revenue growth was partially offset by delivery delays in the Middle East & Asia as a result of global supply and logistics constraints.

Production Systems pretax operating margin of 9% declined 85 bps sequentially due to an unfavorable mix and the impact of delayed deliveries due to global supply and logistics constraints.

Quarterly Highlights

As activity growth accelerates, Schlumberger’s performance differentiation, technology, and integration capabilities continue to earn customer recognition and contract awards for all types of oil and gas projects, from short- and long-cycle development to exploration—including offshore and deepwater. Awards from the quarter include:

• Chevron U.S.A. Inc. awarded Schlumberger contracts for integrated well construction and wireline services for deepwater projects in the Gulf of Mexico. Schlumberger was awarded the contracts for integrated services and technology for deepwater wells, in addition to subsea services previously awarded for another high-pressure, high-temperature (HPHT) deepwater Gulf of Mexico project. The integrated contract includes well construction, for which Schlumberger will bring specific technologies suited for HPHT environments as well as digital capabilities that will enhance overall project execution, efficiency, and safety, including the Performance Live* remote operation service.

• TotalEnergies has awarded Schlumberger a three-year contract for the provision of a significant well intervention scope to improve well production and downhole testing services on new wells located offshore the United Kingdom and Denmark. Under the contract, which has options for two single-year extensions, the project team will apply a comprehensive portfolio of downhole testing services, coiled tubing, slickline, and wireline—including the latest technologies. Work is expected to commence in Q1 2022.

• In Saudi Arabia, Schlumberger was awarded a five-year contract for coiled tubing drilling services to be deployed in major gas fields across the Kingdom. The contract, which has a two-year option to extend, includes a full suite of unique underbalanced coiled tubing drilling technologies and other fit-for-basin technology.

• Equinor has made a direct award to Schlumberger for four RapidXtreme* TAML 3 large-bore multilateral junctions to retrofit existing wells to multilaterals in the Statfjord Field. This award is the result of an integrated contract and the unique architecture of the Rapid* multilateral systems—part of the Transition Technologies portfolio. Conversion of existing wellbores to multilaterals will unlock additional reserves and extend the productive life in the Statfjord Field while reducing the carbon impact of production. Installation of these multilateral completion systems is expected to commence in Q2 2022.

• Woodside, as operator for and on behalf of the Scarborough Joint Venture, for the Scarborough project offshore Western Australia, awarded a contract to OneSubsea^®—the subsea technologies, production, and processing systems division of Schlumberger—as part of the Subsea Integration Alliance. The contract includes a subsea production systems scope, which OneSubsea will deliver, including wellheads, single-phase flowmeters, subsea distribution units, flying leads, a connection system, subsea production control system for topsides and subsea, and postdelivery services. This project will help the Scarborough Joint Venture maximize the potential of this significant gas resource, which will be developed through new offshore facilities connected to a second liquified natural gas (LNG) train at the existing Pluto LNG onshore facility.

• In Indonesia, Premier Oil—a subsidiary of Harbour Energy—has awarded Schlumberger a three-year contract for services and technology for its deepwater offshore exploration project in the Andaman Sea. The contract scope covers a broad range of services, including drilling, drilling fluids, wireline logging, and well testing. A Schlumberger team drawn from three Divisions will deliver a broad set of services and technologies, including Muzic* wireless telemetry, Quanta Geo* photorealistic reservoir geology service, and the Sonic Scanner* acoustic scanning platform—driving performance and efficiency of exploration operations. Work is expected to commence in the second quarter of 2022.

Schlumberger technologies—which won an array of innovation awards in 2021, including an Offshore Technology Conference Spotlight on New Technology, six World Oil Awards, and two Hart Energy's E&P Meritorious Awards for Engineering Innovation—and peer-leading execution capabilities are making significant performance impacts for customers, who are increasingly adopting technologies that help them create differentiated value.

Examples of performance impact during the quarter in North America include:

• In the Appalachian Basin, CNX implemented NeoSteer* at-bit steerable system paired with Smith Bits, a Schlumberger company, cutting structures and dual-telemetry MWD xBolt G2* accelerated drilling service to drill curves and laterals consistently in single runs in their Marcellus Shale assets. Over the last three months, Schlumberger has drilled the top three longest single curve and laterals in CNX's history, with footages ranging between 21,836 ft and 22,565 ft, and with exceptional safety and service quality performance. These are also the top three longest single curve and lateral operations in Schlumberger US Land history to date. NeoSteer system provided enhanced steerability, overall superior performance, and reduced footprint when compared with conventional technologies, resulting in a reduction in drilling time, and savings in drilling operational costs for these three record wells.

• In the Permian Basin, an ExxonMobil and Schlumberger partnership enabled the reduction of drilling rig days by 34% across five wells, performance that will enable ExxonMobil to drill more wells per year with the same number of rigs. An integrated fit-for-basin technology package, including the PowerDrive Orbit G2* rotary steerable system and XBolt G2 accelerated drilling service—controlled from the ExxonMobil Remote Operations Center in Houston—enabled ExxonMobil to drill its first Delaware Basin well in less than nine days and achieve similar performance with five total record-setting wells.

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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• Fourth-quarter revenue of $6.22 billion increased 6% sequentially and 13% year-on-year
• Fourth-quarter GAAP EPS of $0.42 increased 8% sequentially and 56% year-on-year
• Fourth-quarter EPS, excluding charges and credits, of $0.41 increased 14% sequentially and 86% year-on-year
• Fourth-quarter cash flow from operations was $1.93 billion and free cash flow was $1.30 billion
• Board approved quarterly cash dividend of $0.125 per share

• Full-year revenue was $22.9 billion
• Full-year GAAP EPS was $1.32
• Full-year EPS, excluding charges and credits, was $1.28
• Full-year cash flow from operations was $4.65 billion and free cash flow was $3.00 billion

HOUSTON--(BUSINESS WIRE)--Schlumberger Limited (NYSE: SLB) today reported results for the fourth-quarter and full-year 2021.

Fourth-Quarter Results

Schlumberger CEO Olivier Le Peuch commented, “Strengthening activity, accelerating digital sales, and outstanding free cash flow performance combined to deliver another quarter of remarkable financial results to close the year with great momentum.

“In retrospect, we started 2021 with a constructive outlook and an ambition to visibly expand margins and deliver robust free cash flow, while remaining focused on capital discipline.

“In fact, we concluded the year with 88% growth in EPS, excluding charges and credits; adjusted EBITDA margin of 21.5%; and $3.0 billion in free cash flow. The adjusted EBITDA margin—which represents a year-on-year expansion of 320 basis points (bps)—is the highest level since 2018. We restored our North America pretax operating margin to double-digits and expanded our international margin, both exceeding prepandemic 2019 levels.

“This was also a momentous year for us in terms of our commitment to sustainability. We announced our comprehensive 2050 net-zero commitment, inclusive of Scope 3 emissions, and launched our Transition Technologies* portfolio.

“I am extremely proud of the full-year results, as we operationalized our returns-focused strategy and surpassed our financial ambitions with resounding success.

“Turning to the fourth-quarter results, sequential revenue growth was broad based across all geographies and Divisions, led by Digital & Integration.

“International revenue of $4.90 billion grew 5% sequentially, driven primarily by strengthening activity, increased digital sales, and early benefits of pricing improvements. The sequential revenue increase was led by growth in Europe/CIS/Africa due to strong offshore activity in Africa and new projects in Europe. This growth was complemented by project startups and activity gains in the Middle East & Asia and sustained activity growth in Latin America. The fourth-quarter international revenue performance represents a 13% year-on-year increase, enabling us to accomplish our double-digit revenue growth ambition for the second half of 2021 when compared to the same period in 2020.

“In North America, revenue of $1.28 billion grew 13% sequentially, outperforming the rig count growth. The sequential growth was driven by strong offshore and land drilling activity and increased exploration data licensing in the US Gulf of Mexico and the Permian.

“Among the Divisions, Digital & Integration revenue increased 10% sequentially, driven by very strong digital sales, as the adoption of our digital offering continues to accelerate, and from increased exploration data licensing sales. Reservoir Performance revenue increased 8% sequentially from higher intervention activity in Latin America, new stimulation projects and activity gains in the Middle East & Asia, and increased offshore evaluation activity in North America. Well Construction revenue increased 5% due to higher land and offshore drilling activity both in North America and internationally. Similarly, Production Systems revenue grew 5% sequentially from new offshore projects and year-end sales.

“Overall, our fourth-quarter pretax segment operating income increased 9% sequentially, attaining the highest quarterly operating margin level since 2015. Contributing to this remarkable performance are the accretive effect of accelerating digital sales and early signs of pricing improvements, particularly when driven by new technology adoption and performance differentiation.

“Looking ahead into 2022, the industry macro fundamentals are very favorable, due to the combination of projected steady demand recovery, an increasingly tight supply market, and supportive oil prices. We believe this will result in a material step up in industry capital spending with simultaneous double-digit growth in international and North American markets. Absent any further COVID-related disruption, oil demand is expected to exceed prepandemic levels before the end of the year and to further strengthen in 2023. These favorable market conditions are strikingly similar to those experienced during the last industry supercycle, suggesting that resurgent global demand-led capital spending will result in an exceptional multiyear growth cycle.

“Schlumberger is well prepared to fully seize this growth ahead of us. We have entered this cycle in a position of strength, having reset our operating leverage, expanded peer-leading margins across multiple quarters, and aligned our technology and business portfolio with the new industry imperatives. Throughout 2021, we continued to strengthen our core portfolio, enhanced our sustainability leadership, successfully advanced our digital journey, and expanded our new energy portfolio.

“The combination of our performance and returns-focused strategy is resulting in enduring customer success and higher earnings. As such, we have increased confidence in reaching our midcycle adjusted EBITDA margin ambition earlier than anticipated and sustaining our financial outperformance. I am truly excited about this year and the outlook for Schlumberger—rooted in capital discipline and superior returns while also continuing to lead technology, digital, and clean energy innovation—to enable performance and sustainability for the global energy industry.”

Other Events

On November 30, 2021, Schlumberger deposited sufficient funds with the trustee for its $1.0 billion of 2.40% Senior Notes due May 2022 to satisfy and discharge all of its legal obligations relating to such notes.

On January 20, 2022, Schlumberger’s Board of Directors approved a quarterly cash dividend of $0.125 per share of outstanding common stock, payable on April 7, 2022 to stockholders of record on February 9, 2022.

Fourth-Quarter Revenue by Geographical Area

North America

North America revenue of $1.28 billion increased 13% sequentially, driven by strong offshore and land drilling activity and increased exploration data licensing in the US Gulf of Mexico and the Permian.

International

Revenue in Latin America of $1.20 billion increased 4% sequentially due to double-digit revenue growth in Argentina, Brazil, and Mexico, mainly from robust Well Construction activity. Reservoir Performance and Production Systems revenue also increased but was partially offset by a temporary production interruption in our Asset Performance Solutions (APS) projects in Ecuador due to pipeline disruption.

Europe/CIS/Africa revenue of $1.59 billion increased 7% sequentially, due to higher revenue in Europe and Africa driven by strong offshore activity, increased digital sales, and new projects—mainly in Turkey—that benefited Production Systems. These increases, however, were partially offset by reduced Reservoir Performance and Well Construction activity in Russia and Scandinavia due to the onset of seasonal effects.

Revenue in the Middle East & Asia of $2.11 billion increased 4% sequentially due to new projects and activity gains that benefited Reservoir Performance in Saudi Arabia, Oman, Australia, Qatar, Indonesia, and Iraq. Similarly, Well Construction revenue grew from new projects in Iraq and the United Arab Emirates, and from increased drilling activity in Qatar, Kuwait, and Indonesia. Growth was also driven by higher digital sales in China and Malaysia. These increases, however, were partially offset by lower sales of production systems due to delivery delays as a result of logistics constraints.

Fourth-Quarter Results by Division

Digital & Integration

Digital & Integration revenue of $889 million increased 10% sequentially, propelled by accelerated digital sales internationally, particularly in Europe/CIS/Africa and Middle East & Asia, and increased exploration data licensing sales in North America offshore and the Permian. These increases, however, were partially offset by the effects of a temporary production interruption in our APS projects in Ecuador due to pipeline disruption.

Digital & Integration pretax operating margin of 38% expanded 268 bps sequentially, due to improved profitability in digital and exploration data licensing.

Reservoir Performance

Reservoir Performance revenue of $1.29 billion increased 8% sequentially due to higher intervention activity across the international offshore markets, mainly in the UK and Latin America, and from new stimulation projects and activity gains in the Middle East & Asia, particularly in Saudi Arabia. These increases, however, were partially offset by the onset of seasonal effects in Russia and Scandinavia. North America revenue grew from higher offshore evaluation activity.

Reservoir Performance pretax operating margin of 16% was essentially flat sequentially. Profitability improved from higher offshore and exploration activity but was offset by technology mix and seasonality effects in the Northern Hemisphere.

Well Construction

Well Construction revenue of $2.39 billion increased 5% sequentially, driven by higher measurements and drilling fluids activity and increased drilling equipment sales. North America revenue increased due to higher rig count on land and increased well construction activity in the US Gulf of Mexico. International revenue growth was driven by the double-digit growth in Latin America, mainly in Mexico and Argentina, in Sub-Sahara Africa, and in the Middle East in Kuwait, Qatar, Iraq, and UAE. These increases were partially offset by seasonal effects in Russia and Scandinavia.

Well Construction pretax operating margin of 15% was essentially flat sequentially as the favorable mix of increased activity and new technology was offset by seasonal effects in the Northern Hemisphere.

Production Systems

Production Systems revenue of $1.76 billion increased 5% sequentially. Revenue increases in subsea, well production, and midstream production systems were offset by a revenue decline in surface production systems. International activity was driven by double-digit growth in Europe/CIS/Africa—mainly from strong project progress in Angola, Gabon, and Mozambique, new projects in Turkey, and increased activity in Scandinavia and Russia & Central Asia—and by growth in Latin America, mainly in Brazil and Ecuador. This revenue growth was partially offset by delivery delays in the Middle East & Asia as a result of global supply and logistics constraints.

Production Systems pretax operating margin of 9% declined 85 bps sequentially due to an unfavorable mix and the impact of delayed deliveries due to global supply and logistics constraints.

Quarterly Highlights

As activity growth accelerates, Schlumberger’s performance differentiation, technology, and integration capabilities continue to earn customer recognition and contract awards for all types of oil and gas projects, from short- and long-cycle development to exploration—including offshore and deepwater. Awards from the quarter include:

• Chevron U.S.A. Inc. awarded Schlumberger contracts for integrated well construction and wireline services for deepwater projects in the Gulf of Mexico. Schlumberger was awarded the contracts for integrated services and technology for deepwater wells, in addition to subsea services previously awarded for another high-pressure, high-temperature (HPHT) deepwater Gulf of Mexico project. The integrated contract includes well construction, for which Schlumberger will bring specific technologies suited for HPHT environments as well as digital capabilities that will enhance overall project execution, efficiency, and safety, including the Performance Live* remote operation service.

• TotalEnergies has awarded Schlumberger a three-year contract for the provision of a significant well intervention scope to improve well production and downhole testing services on new wells located offshore the United Kingdom and Denmark. Under the contract, which has options for two single-year extensions, the project team will apply a comprehensive portfolio of downhole testing services, coiled tubing, slickline, and wireline—including the latest technologies. Work is expected to commence in Q1 2022.

• In Saudi Arabia, Schlumberger was awarded a five-year contract for coiled tubing drilling services to be deployed in major gas fields across the Kingdom. The contract, which has a two-year option to extend, includes a full suite of unique underbalanced coiled tubing drilling technologies and other fit-for-basin technology.

• Equinor has made a direct award to Schlumberger for four RapidXtreme* TAML 3 large-bore multilateral junctions to retrofit existing wells to multilaterals in the Statfjord Field. This award is the result of an integrated contract and the unique architecture of the Rapid* multilateral systems—part of the Transition Technologies portfolio. Conversion of existing wellbores to multilaterals will unlock additional reserves and extend the productive life in the Statfjord Field while reducing the carbon impact of production. Installation of these multilateral completion systems is expected to commence in Q2 2022.

• Woodside, as operator for and on behalf of the Scarborough Joint Venture, for the Scarborough project offshore Western Australia, awarded a contract to OneSubsea^®—the subsea technologies, production, and processing systems division of Schlumberger—as part of the Subsea Integration Alliance. The contract includes a subsea production systems scope, which OneSubsea will deliver, including wellheads, single-phase flowmeters, subsea distribution units, flying leads, a connection system, subsea production control system for topsides and subsea, and postdelivery services. This project will help the Scarborough Joint Venture maximize the potential of this significant gas resource, which will be developed through new offshore facilities connected to a second liquified natural gas (LNG) train at the existing Pluto LNG onshore facility.

• In Indonesia, Premier Oil—a subsidiary of Harbour Energy—has awarded Schlumberger a three-year contract for services and technology for its deepwater offshore exploration project in the Andaman Sea. The contract scope covers a broad range of services, including drilling, drilling fluids, wireline logging, and well testing. A Schlumberger team drawn from three Divisions will deliver a broad set of services and technologies, including Muzic* wireless telemetry, Quanta Geo* photorealistic reservoir geology service, and the Sonic Scanner* acoustic scanning platform—driving performance and efficiency of exploration operations. Work is expected to commence in the second quarter of 2022.

Schlumberger technologies—which won an array of innovation awards in 2021, including an Offshore Technology Conference Spotlight on New Technology, six World Oil Awards, and two Hart Energy's E&P Meritorious Awards for Engineering Innovation—and peer-leading execution capabilities are making significant performance impacts for customers, who are increasingly adopting technologies that help them create differentiated value.

Examples of performance impact during the quarter in North America include:

• In the Appalachian Basin, CNX implemented NeoSteer* at-bit steerable system paired with Smith Bits, a Schlumberger company, cutting structures and dual-telemetry MWD xBolt G2* accelerated drilling service to drill curves and laterals consistently in single runs in their Marcellus Shale assets. Over the last three months, Schlumberger has drilled the top three longest single curve and laterals in CNX's history, with footages ranging between 21,836 ft and 22,565 ft, and with exceptional safety and service quality performance. These are also the top three longest single curve and lateral operations in Schlumberger US Land history to date. NeoSteer system provided enhanced steerability, overall superior performance, and reduced footprint when compared with conventional technologies, resulting in a reduction in drilling time, and savings in drilling operational costs for these three record wells.

• In the Permian Basin, an ExxonMobil and Schlumberger partnership enabled the reduction of drilling rig days by 34% across five wells, performance that will enable ExxonMobil to drill more wells per year with the same number of rigs. An integrated fit-for-basin technology package, including the PowerDrive Orbit G2* rotary steerable system and XBolt G2 accelerated drilling service—controlled from the ExxonMobil Remote Operations Center in Houston—enabled ExxonMobil to drill its first Delaware Basin well in less than nine days and achieve similar performance with five total record-setting wells.

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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DUBLIN--(BUSINESS WIRE)--The "Electric Vehicle Supply Equipment Market Size, Trends & Growth Opportunity, By Type, By Charging, Region and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global Electric Vehicle Charging Station market size is expected to grow from 2,115 thousand units in 2020 to 30,758 thousand units by 2027, at a CAGR of 46.6%.

Companies Mentioned

• ChargePoint Inc.
• ABB Ltd
• Tesla Inc.
• Eaton Corporation PLC
• SemaConnect Inc.
• General Electric Company
• AeroVironment Inc.
• Car Charging Group Inc.
• Schneider Electric S.E.
• Robert Bosch GmbH
• Xuji Group
• Potivio
• Auto Electric Power Plant
• Wanbang
• Qingdao Telaidian

Electric vehicle supply equipment supplies electricity to an electric vehicle. They are also known as charging stations or charging docks, which provide electric power to the vehicle and use that to recharge the vehicle's batteries. It includes a broad range of products for delivering electricity to electric vehicles (EVs) in a safe, controlled manner. These range from the different classes of hardware that vary dramatically in power level and features, depending on use cases, to the software solutions.

However, the traditional internal combustion engine (ICE) vehicles are refilled at traditional gas stations whereas EV's can be recharged at multiple locations such as residence, commercial areas and at highway charging stations.

Market Drivers

Market is witnessing a faster growth due to the ever increasing demand for electric vehicles throughout the world. Due to the increasing awareness about environmental problems, such as global warming and air pollution because of utilization of the carbon based fuels, governments are encouraging the use of electric vehicles to tackle such problems. Whereas, manufacturers are working overtime on reducing their cost of production of electric cars, and introducing more sophisticated models of electric vehicles to promote the sale of electric vehicles, consequently, due to this market can receive a boost.

Market Restraints

The high costs of level 3 fast chargers and ultrafast charger associated with electric vehicle charging equipment is a major factor threatening to hamper the market growth. However, the initial cost of a Level 3 charger can be quite high. This acts as a restraint for people who may want to switch to EV as charging for long duration may affect the already busy life of most people

Globally market is operated from companies like ChargePoint Inc., ABB Ltd, Tesla Inc., Eaton Corporation PLC, SemaConnect, Inc., General Electric Company, AeroVironment, Inc., Car Charging Group, Inc., Schneider Electric S.E., Robert Bosch GmbH, Xuji Group, Potivio, Auto Electric Power Plant, Wanbang, Qingdao Telaidian.

Key Questions Addressed by the Report?

• Which are the leading market players active in electric vehicle supply equipment market?
• What are the current trends that will influence the market in the next few years?
• How will growth vary between the different regions of the world?

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Global Electric Vehicle Supply Equipment Market Outlook

4.1 Overview

4.2 Market Dynamics

4.2.1 Drivers

4.2.2 Restraints

4.2.3 Opportunities

5 Global Electric Vehicle Supply Equipment Market, By Type

5.1 Y-o-Y Growth Comparison, By Type

5.2 Global Electric Vehicle Supply Equipment Market Share Analysis, By Type

5.3 Global Electric Vehicle Supply Equipment Market Size and Forecast, By Type

5.3.1. AC power

5.3.2. DC power

6 Global Electric Vehicle Supply Equipment Market, By Charging

6.1 Y-o-Y Growth Comparison, By Charging

6.2 Global Electric Vehicle Supply Equipment Share Analysis, By Charging

6.3 Global Electric Vehicle Supply Equipment Market Size and Forecast, By Charging

6.3.1 Normal charging

6.3.2 Supercharging

6.3.3 Inductive charging

7. Global Electric Vehicle Supply Equipment Market, By Region

7.1 Global Electric Vehicle Supply Equipment Market Share Analysis, By Region

7.2 Global Electric Vehicle Supply Equipment Market Share Analysis, By Region

7.3 Global Electric Vehicle Supply Equipment Market Size and Forecast, By Region

8. North America Electric Vehicle Supply Equipment Market Analysis and Forecast (2021- 2027)

9. Europe Electric Vehicle Supply Equipment Market Analysis and Forecast (2021-2027)

10. Asia Pacific Electric Vehicle Supply Equipment Market Analysis and Forecast (2021-2027)

11. Latin America Electric Vehicle Supply Equipment Market Analysis and Forecast (2021-2027)

12. Middle East Electric Vehicle Supply Equipment Market Analysis and Forecast (2021-2027)

13 Competitive Analysis

14.1 Competition Dashboard

14.2 Market share Analysis of Top Vendors

14.3 Key Development Strategies

14 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/2txb0e

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Subsidiary Tongsuh Petrochemical becomes the first acrylonitrile manufacturer in Asia to acquire ISCC PLUS certification

NEW YORK--(BUSINESS WIRE)--#acrylonitrile--Asahi Kasei, a diversified Japanese multinational company, announces that on October 21, 2021, Tongsuh Petrochemical Corp., Ltd. (TSPC), a wholly owned subsidiary in South Korea, acquired the widely recognized international certification ISCC PLUS¹ for its acrylonitrile (AN) as a sustainable product, and production of AN using biomass propylene is scheduled to begin in February 2022.

AN is used as a raw material to make ABS resin, acrylamide, acrylic fiber, and various other chemical products. Recent demand growth has been particularly robust in the applications of carbon fiber as a material to reduce the weight of wind turbine blades, etc., and nitrile rubber for medical gloves whose use is expanding due to heightened awareness for hygiene.

In order to achieve carbon neutrality by 2050, measures to reduce CO₂ emissions throughout the product chain of fossil fuel-derivatives are gaining momentum, and AN customers are increasingly seeking to manufacture products using AN with low CO₂ emissions in order to contribute to GHG reduction. Under these circumstances, Asahi Kasei and TSPC sought to reduce CO₂ emissions across the AN supply chain, and in October 2021, TSPC became the first AN manufacturer in Asia to acquire ISCC PLUS certification. The certification system enables TSPC to produce and sell AN using biomass raw material allocated by the mass-balance method². TSPC is scheduled to begin producing AN using biomass propylene in February 2022.

In order to contribute to society’s carbon neutrality, the Asahi Kasei Group will continue efforts to further reduce CO₂ emissions by improving the AN catalysts and processes based on original technologies as well as the procurement of biomass raw material, aiming to be a global sustainable partner for its customers.

¹ ISCC (International Sustainability and Carbon Certification) is an international certification system that offers solutions for the implementation and certification of waste and residue raw materials, non-bio renewables and recycled carbon materials and fuels. ISCC PLUS is a certification system that covers mainly bio-based carbon materials which are produced outside the EU and supplied globally, and to manage and ensure sustainable raw materials in the supply chain.
² In the case of a mixture of biomass raw materials, etc., and fossil fuel-derived raw materials in the production process, the portion of biomass product, etc., produced is assigned to certain products (biomass AN) based on ISCC PLUS System Documents and its recognized management methods.

Sustainability at Asahi Kasei
https://www.asahi-kasei.com/sustainability/

About Asahi Kasei
The Asahi Kasei Group contributes to life and living for people around the world. Since its foundation in 1922 with ammonia and cellulose fiber businesses, Asahi Kasei has consistently grown through the proactive transformation of its business portfolio to meet the evolving needs of every age. With more than 40,000 employees around the world, the company contributes to a sustainable society by providing solutions to the world's challenges through its three business sectors of Material, Homes, and Health Care. For more information, visit www.asahi-kasei.com.

Media Inquiries
ATTN: Jonathan Todd
Asahi Kasei America, Inc.
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https://www.asahi-kasei.com

DUBLIN--(BUSINESS WIRE)--The "Gears, Drives and Speed Changers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Gears, Drives and Speed Changers Market to Reach US$176.6 Billion by the Year 2026

Increasing automotive production due to recovering world economy from the pandemic and faster demand growth and manufacturing output in developing countries constitute the primary factors driving growth for the market for gear technology. Shift towards more energy-efficient units like the seven and eight speed automatic transmissions also drives market growth. Fast growing prominence of solar and wind energy also contribute to increased sales of gears globally.

Increase in demand for finished products also increases manufacturer investments on a range of production machinery, thus driving demand for machinery parts production of which also warrants gears, drives, and speed changers. Manufacturers are increasingly focusing on product innovations and enhancements that can meet technology challenges to deliver better performance, yet at a reasonable cost. Newer techniques such as traction drives, hydraulic systems and electric gears, have made a remarkable foray into the industry.

Amid the COVID-19 crisis, the global market for Gears, Drives and Speed Changers estimated at US$133.1 Billion in the year 2020, is projected to reach a revised size of US$176.6 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Automotive, one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach US$136.6 Billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Industrial segment is readjusted to a revised 5.1% CAGR for the next 7-year period. This segment currently accounts for a 16.8% share of the global Gears, Drives and Speed Changers market. Automotive market is the largest revenue contributor for the combined market of gears, drives and speed changers. Production of automobiles too will grow at a steady pace with excellent increases in developing markets offsetting significant declines in developed markets. Steady increase in automotive production as a result of increase in demand in these developing markets will fuel demand especially for OEM gears and gear drives.

The U.S. Market is Estimated at $26.2 Billion in 2021, While China is Forecast to Reach $36.1 Billion by 2026

The Gears, Drives and Speed Changers market in the U.S. is estimated at US$26.2 Billion in the year 2021. The country currently accounts for a 19.1% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$36.1 Billion in the year 2026 trailing a CAGR of 5.8% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR while Rest of European market (as defined in the study) will reach US$9.3 Billion by the end of the analysis period.

With many large companies from developed markets such as US and Europe increasingly setting up their manufacturing base in low cost destinations such as China and India and carrying out their production operations from there, or outsourcing their manufacturing operations to regional manufacturers in low cost destinations such as China and India, the sales contribution of Asia-Pacific in the global market has been on the rise. Export demand for low cost gears, drives and speed changers from Asian countries to developed market has also been on the rise thus driving growth in the regional market. Lower per capita vehicle ownership is another major factor driving automobile demand and production in these nations, thus fueling market prospects for these components.

Industrial Segment to Reach $30.1 Billion by 2026

A growing number of industries are adopting automation to circumvent the problem of growing labor costs and also for increasing production efficiencies and reducing costs of production. Labor costs have been rising steadily across the world owing to continuous economic growth. All these factors constitute the key driving forces behind growth for the industrial gearboxes market. In the global Industrial (End-Use) segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment.

These regional markets accounting for a combined market size of US$17 Billion in the year 2020 will reach a projected size of US$23.8 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$4.5 Billion by the year 2026, while Latin America will expand at a 5.3% CAGR through the analysis period.

Select Competitors (Total 339 Featured)

• ABB Ltd.
• Bharat Gears Ltd.
• Bonfiglioli Riduttori S.p.A.
• BorgWarner, Inc.
• Bosch Rexroth AG
• Cone Drive
• Curtis Machine Company, Inc.
• Danfoss Group
• David Brown Santasalo
• Eaton Corporation plc
• Emerson Electric Co.
• FLSmidth MAAG Gear
• Horsburgh & Scott
• Hub City, Inc.
• Kanzaki Kokyukoki Manufacturing Co. Ltd.
• Marine Gears, Inc.
• Oerlikon Graziano
• Rexnord Corp.
• Schneider Electric
• SEW Eurodrive
• Siemens AG
• Sumitomo Drive Technologies
• Twin Disc, Inc.
• ZF Friedrichshafen AG

Key Topics Covered

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
• Progress on Vaccinations: Why Should Businesses Care?
• With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish about an Economic Comeback Despite a Continuing Pandemic
• Industrial Activity Remains Subdued in 2020 with Strong Hopes of Long Term Recovery
• An Introductory Prelude
• Automotive Industry - A Bellwether of Market Prospects
• Developing Countries Continue to be Growth Engines
• Market Outlook
• Improving US Economy Augurs Well for the Market
• Cyclical Upturn Encourages Positive Manufacturing Outlook in Asia-Pacific
• Off-Shoring of Manufacturing Activity Boosts Demand in Developing Countries
• Competitive Scenario
• Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• An Outlook for Global Gear Technology Market
• Pandemic-Induced Changes in Manufacturing Industries Create New Demand Patterns for Gear Products
• Growth in Automobiles Production to Spur Market Demand
• How the Automotive Industry was Impacted by the Pandemic & What's the New Normal?
• Gears - Vital Component of Automotive Systems
• Key Trends in Automotive Gearbox Market
• Growing Popularity of Steer-by-Wire Technology Drives Future Demand for Power Steering Gears
• Rising Average Vehicle Life Drive Demand for Aftermarket Gears and Drives
• Industrial Gearboxes Market - An Overview
• Asia-Pacific Leads the Industrial Gearboxes and Gear Motors Market
• Internal Drive Trains in Mountain Bikes and E-Bikes: Advantages and Disadvantages
• Aerospace Sector Augurs Well for Long Term Growth
• Pandemic Causes Panic in the Aerospace Sector
• Anticipated Surge in Air Traffic to Drive Growth in Aircraft Landing Gear Market
• Landing Gears Market for Commercial Aircrafts to Witness Surge Due to Expected increase in Passenger Numbers
• Heavy Industrial Equipment/Machinery Manufacturing Industry Promises Bright Prospects
• Need for High Quality Gears for Uninterrupted Production Process to Drive Gears Demand
• Recovery in Oil and Gas Sector to Support Demand for Gear and Drives
• The Present Scenario
• Steady Growth in Global Power Generation Activity to Spur Demand
• Growing Focus on Exploiting Wind Energy Spurs Growth in Wind Turbine Gear Market
• Gears Used in Nuclear Power Plants to Witness Growth
• Robust Demand for Construction Equipment to Offer Growth Opportunities
• Growing Demand for Mining Equipment Boosts Growth in Gear & Gearbox Market
• Mechanization of Agriculture Spurs Growth
• Growing Impact of Technology
• Powder Metallurgy Makes Headway in Automotive Transmission Parts Production
• CAD Furthers Gear Design
• A Segmental Overview
• Gears
• Types of Gears
• The Evolution of Industrial Gears
• Plant Automation and Electromechanical Machinery Driving Gears Demand
• Gear Assemblies Find Increasing Demand
• Automatic Transmission Systems Gain Prominence - Drive Demand for Planetary Gears in Automotive Market
• Commercial Aircraft Landing Gears Gain Rapid Acceptance
• CVT: A Long Term Threat to Gear Market?
• Wide Scale Applicability Ensures Secure Future
• Drives
• Mechanical Drives Continues to Lose Share to Electric and Hydraulic Drives
• Advantages Offered by Electric Drive Technology Propel its Adoption in Hoists, Cranes and Elevators
• Technological Innovations Power Replacement Market for Electric Drives
• Global AC Drives Market Overview
• Direct Torque Control: New Technological Development in AC Drives
• Hydraulic Drives Too Grow in Popularity
• Variable Frequency Drives Continue to Witness Growth
• Speed Changers

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

• Total Companies Profiled: 339

For more information about this report visit https://www.researchandmarkets.com/r/q5wo4u

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Firm Intends to be a Global Leader in Providing Sustainable Finance Solutions for Companies Driving the Energy Transition

Blackstone Sees Opportunity to Invest an Estimated $100 Billion in Energy Transition and Climate Change Solutions Over the Next Decade Across its Businesses

NEW YORK--(BUSINESS WIRE)--Blackstone today announced the launch of Blackstone Credit’s Sustainable Resources Platform focused on investing in and lending to renewable energy companies and those supporting the energy transition. Blackstone Credit is one of the world’s largest providers of private credit in the energy transition marketplace. This initiative brings together Blackstone Credit’s scale and expertise in these areas with the firm’s ESG and Portfolio Operations capabilities to deliver value by providing new solutions and sources of capital to companies driving the broader energy transition. The Sustainable Resources Credit Platform complements the firm’s existing private equity, energy and infrastructure strategies that are investing in companies that support the energy transition and climate change solutions.

Governments and companies around the world are committing to decarbonization at an accelerated pace and over 90% of global emissions are covered by government net zero commitmentsⁱ. An estimated $100 trillion will be required through 2050 to decarbonize the global economyⁱⁱ.

As one of the world’s largest sources of private capital, Blackstone has a decade-long history of investing in renewable energy and climate change solutions. Since 2019, Blackstone has committed over $15 billion in investments that the firm believes are consistent with the broader energy transition. Blackstone anticipates that its capital deployment in this space will continue to grow. Across its businesses, Blackstone sees an opportunity to invest an estimated $100 billion in energy transition and climate change solutions projects over the next decade.

Blackstone Credit’s Sustainable Resources Platform is a dedicated credit platform that seeks to address the growing challenges, investment needs and expertise required by this historic transition. It is led by Robert Horn, who has been with Blackstone Credit since its founding, and has been named Global Head of the Sustainable Resources Group for Blackstone Credit. Simon Hayden has joined the firm from EIG, and he is a Senior Managing Director for Blackstone Credit in London and leads the Sustainable Resources activities in Europe.

The Sustainable Resources Platform includes more than 30 investment professionals across North America and Europe, supported by the portfolio operations teams at Blackstone. The Platform will also leverage the firm’s considerable ESG expertise, bringing ESG professionals into the investment process. Newly hired Global Head of ESG for Blackstone, Jean Rogers, the founder of the Sustainability Accounting Standards Board (SASB), and Rita Mangalick, Head of ESG for Blackstone Credit, will advise investment teams, oversee ESG diligence and support other initiatives for the platform.

The Platform will invest across the credit spectrum in investment grade credit, non-investment grade credit, preferred and convertible securities. It will focus on a broad range of sectors, including residential solar and home efficiency; renewable electricity generation and storage; products, services, technologies and natural resources that enable the energy transition; decarbonized transportation; sustainability linked loans; green financings that fund environmental projects; and other energy infrastructure investments.

Jon Gray, President and COO of Blackstone, said: “The launch of this platform demonstrates our conviction in the investment opportunities presented by the energy transition. Companies globally are shifting to meet this demand. We believe private capital is essential to supporting decarbonization goals and our scale allows us to play a major role.”

Dwight Scott, Global Head of Blackstone Credit, said: “Blackstone Credit’s unmatched scale is being unleashed to support companies that are driving the energy transition. We are excited to launch this dedicated financing platform to build on the over $15 billion that Blackstone has committed since 2019 in investments that we believe are consistent with the broader energy transition.”

Robert Horn, Global Head of the Sustainable Resources Group for Blackstone Credit, said: “We believe large scale and flexible capital are essential to funding decarbonization. We look forward to providing efficient capital and Blackstone’s expertise to companies across a range of sectors that we believe are driving this important transition.”

Simon Hayden, Senior Managing Director, Blackstone Credit, said: “I am delighted to join the world class team at Blackstone Credit and drive its European activities in sustainable resources.”

Blackstone more broadly has been an active participant in the market with numerous recent debt and equity investments across its businesses, including:

• Committed approximately $3 billion in Invenergy Renewables, the largest developer of renewable energy projects in North America.
• Financed over 350 MW of solar across 18 states through an investment in Altus Power, a solar power company that provides clean electricity and energy storage to commercial and residential customers across the United States.
• Committed over $3 billion for residential solar and home efficiency loans that enable homeowners to reduce their carbon footprint in partnership with GoodLeap and other sustainable finance partners.
• Invested in ClearGen, a company that provides flexible capital for microgrids and other energy transition solutions for commercial and industrial customers.
• Invested in Transmission Developers Inc. (TDI) to develop the Champlain Hudson Power Express (CHPE), an underground electric transmission line spanning approximately 339 miles between Canada and New York City. The project will deliver 1,250 MW of clean power to New York City, which is still reliant on fossil fuels for approximately 85 percent of its electricity consumption.

In January 2021, Blackstone announced its Emissions Reduction Program to reduce carbon emissions by 15% in aggregate over three years for all new assets where the firm controls energy usage. To accomplish this goal, Blackstone has developed what it believes is a robust decarbonization program designed to increase value by reducing energy use and carbon emissions at scale in a way that is measurable and tangible. Blackstone is also developing a carbon accounting system and a capability to track and report on Scope 1 and Scope 2 emissions reductions. This will allow the firm to measure its impact and provide its investors with critical data to help them to meet their own climate targets and financial goals.

Forward Looking Statements

This release may contain 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, which reflect our current views with respect to, among other things, our operations and financial performance. You can identify these forward-looking statements by the use of words such as “outlook,” “opportunity,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “scheduled,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to the impact of the novel coronavirus, as well as those described under the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020, as such factors may be updated from time to time in our periodic filings with the United States Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in our periodic filings. The forward-looking statements speak only as of the date of this report, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

About Blackstone

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

_____________________
ⁱ Source: Climate Action Tracker
ⁱⁱ Source: IRENA World Energy Transitions Outlook, published March 2021.

Kate Holderness
This email address is being protected from spambots. You need JavaScript enabled to view it.
646-482-8774

MADISON, Wis.--(BUSINESS WIRE)--The board of directors of MGE Energy, Inc. (Nasdaq: MGEE), today declared the regular quarterly dividend of $0.3875 per share on the outstanding shares of the company's common stock, payable March 15, 2022, to shareholders of record at the close of business March 1, 2022.

MGE Energy has increased its dividend annually for the past 46 years and has paid cash dividends for more than 110 years.

About MGE Energy

MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric (MGE), generates and distributes electricity to 157,000 customers in Dane County, Wis., and purchases and distributes natural gas to 166,000 customers in seven south-central and western Wisconsin counties.

Steve Schultz
Corporate Communications Manager
608-252-7219 | This email address is being protected from spambots. You need JavaScript enabled to view it.

TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB) announced today that it expects to release its 2021 fourth quarter and year-end financial results on Thursday, February 17, 2022 after the close of North American markets.

A conference call and webcast to discuss the financial results will be held at 10:30 AM EST on Friday, February 18, 2022. To participate in the conference call, dial: 1-844-389-8661. Internet users can listen to the call live at: https://edge.media-server.com/mmc/p/o8johndw or as an archived call, on Superior's website at: www.superiorplus.com under the Events section.

About the Corporation
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 Superior’s 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).

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).

HAMILTON, Bermuda--(BUSINESS WIRE)--ST Energy Transition I Ltd. (NYSE: STET.U) (the “Company”) today announced that, commencing January 24, 2022, holders of the SAIL^SM securities sold in the Company’s initial public offering of 28,750,000 SAIL^SM securities, completed on December 7, 2022 (over-allotment completed December 9, 2022), may elect to separately trade Class A shares and redeemable warrants included in the SAIL^SM securities. Those SAIL^SM securities not separated will continue to trade on the New York Stock Exchange (“NYSE”) under the symbol “STET.U,” and the Class A shares and redeemable warrants that are separated will trade on NYSE under the symbols “STET” and “STETWS,” respectively. No fractional warrants will be issued upon separation of the SAIL^SM securities and only whole warrants will trade. Holders of SAIL^SM securities will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the SAIL^SM securities into Class A shares and redeemable warrants.

The SAIL^SM securities were initially offered by the Company in an underwritten offering. Morgan Stanley & Co. LLC acted as sole book-running manager and DNB Markets, Inc. acted as joint lead manager in the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on December 2, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these 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. The offering was made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained for free from the U.S. Securities and Exchange Commission website (http://www.sec.gov); Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014 or by e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it..

About ST Energy Transition I Ltd.

ST Energy Transition I Ltd. is a newly incorporated blank check company, incorporated in Bermuda as an exempted company limited by shares, for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. While we may pursue an initial business combination target in any industry or geographic location (subject to certain limitations described in this prospectus), we intend to focus our search on opportunities that contribute in positive ways towards energy transition and clean energy technology.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media:
Gunnar Eliassen
Email address: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +1 (441) 295-6935

HOUSTON--(BUSINESS WIRE)--Today Western Midstream Partners, LP (NYSE: WES) (“WES” or the “Partnership”) announced that the board of directors of its general partner declared a quarterly cash distribution of $0.327 per unit for the fourth quarter of 2021. This distribution represents a 1.3-percent increase over the prior quarter’s distribution and is consistent with the partnership’s previously disclosed annualized 2021 distribution growth rate of 5-percent. WES’s fourth-quarter 2021 distribution is payable February 14, 2022, to unitholders of record at the close of business on January 31, 2022.

In addition, the Partnership plans to engage with its board of directors regarding its financial policy, inclusive of its 2022 capital allocation plan and distribution policy, at its previously scheduled year-end board meeting in February. The Partnership intends to further discuss its financial policy in conjunction with its fourth-quarter and full-year 2021 results as scheduled below.

The Partnership plans to report its fourth-quarter and full-year 2021 results after market close Wednesday, February 23, 2022. Management will host a conference call on Thursday, February 24, 2022, at 1 p.m. CST (2 p.m. EST) to discuss the Partnership’s quarterly results. The full text of the release announcing the results will be available on the Partnership’s website at www.westernmidstream.com.

Fourth-Quarter and Full-Year 2021 Results
Thursday, February 24, 2022
1 p.m. CST (2 p.m. EST)
Dial-in number: 844-200-6205
International dial-in number: 929-526-1599
Participant access code: 271823

To participate in WES’s scheduled fourth-quarter and full-year 2021 earnings call, refer to the above-listed dial-in number and participant access code. To access the live audio webcast of the conference call, please visit the investor relations section of the Partnership’s website at www.westernmidstream.com. A replay of the conference call also will be available on the website following the call.

ABOUT WESTERN MIDSTREAM

Western Midstream Partners, LP (“WES”) is a Delaware master limited partnership formed to acquire, own, develop, and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas, and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, NGLs, and crude oil; and gathering and disposing of produced water for its customers. In addition, in its capacity as a processor of natural gas, WES also buys and sells natural gas, NGLs, and condensate on behalf of itself and as an agent for its customers under certain of its contracts.

For more information about Western Midstream Partners, LP and Western Midstream Flash Feed updates, please visit www.westernmidstream.com.

This news release contains forward-looking statements. WES and its general partner believe that their expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release. These factors include our ability to meet distribution expectations and financial guidance; the timeline for a full recovery in commodity demand and prices; our ability to safely and efficiently operate WES’s assets; the supply of, demand for, and price of oil, natural gas, NGLs, and related products or services; our ability to meet projected in-service dates for capital-growth projects; construction costs or capital expenditures exceeding estimated or budgeted costs or expenditures; and the other factors described in the “Risk Factors” section of WES’s most-recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission and other public filings and press releases. WES undertakes no obligation to publicly update or revise any forward-looking statements.

Note regarding Non-United States Investors: This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Western Midstream Partners, LP’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Western Midstream Partners, LP’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

WESTERN MIDSTREAM CONTACTS

Kristen Shults
Senior Vice President, Finance and Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
832.636.1009

Daniel Jenkins
Director, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
832.636.1009

Shelby Keltner
Manager, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
832.636.1009

COLUMBUS--(BUSINESS WIRE)--Today’s announcement of Intel’s plan to invest in a major semiconductor manufacturing facility in Licking County is the latest clear sign that Ohio’s growing solar energy economy is providing a strong and competitive foundation for Ohio’s future.

Intel has committed to 100% renewable energy supply by 2030 to power its global manufacturing operations, including its new facility planned for Licking County. This is the latest in a series of major investments Ohio has attracted from companies that include renewable energy purchase goals, such as Peloton, Nestle, First Solar, Amazon, Google, and Facebook.

Additionally, Ohio was the first state to attract a mega battery factory to serve the growing electric vehicle market when the $2.3 billion GM/LG Chem battery manufacturing facility selected Lordstown as its home. Many large automotive companies, such as GM, have plans to buy 100% renewable energy located near their operations.

In a new video detailing how solar energy can help the state attract investments such as Intel, Nate Strum, former GROW Licking County executive director, says (3:20 mark): “Ohio continues to be a very competitive environment for site selection opportunities, but we have to make sure that we have all of the tools in the toolbox necessary to make sure we are as competitive as possible and alternative energy — access to solar energy in particular — is going to be one of those tools going forward.”

Just yesterday, the Ohio Power Siting Board approved a construction permit for the 107.7 megawatt (MW) Union Ridge Solar project located in Licking County’s Harrison Township. Additionally, the 350 MW Harvey Solar project located in Hartford Township is currently pending at the Siting Board. These two projects under development in Licking County will generate more than $4 million dollars per year in local tax revenue and bring hundreds of jobs during construction.

An economic impact report prepared by Ohio University details the $18B investment and 55,000 construction jobs the solar industry is bringing to Ohio, but projects like these are also key to attracting large employers like Intel to the state as they seek to locate new facilities in areas with abundant renewable sources of electricity.

Ohio has an existing transmission infrastructure that can support companies like Intel and the expanding solar industry, a key investment attraction tool. In fact, the same semiconductor advancements in chip manufacturing that have helped companies like Intel bring about the digital age have also enabled improvements in the solar industry – another semiconductor-based technology. Thanks to technology advancements and cost improvements, utility scale solar is now one of the most cost-effective forms of generating power and has the added benefit of doing this with zero emissions.

“Ohio’s future prosperity lies in thoughtful economic development and the solar industry looks forward to continuing to contribute to the economic growth of Ohio and to helping provide clean renewable energy to companies like Intel,” said Jake Kuss, USSEC’s Assistant Director. “Our state is extremely well positioned to capitalize on the growth sectors of today’s economy thanks to a robust well-trained labor force, geography and access to least-cost energy in the form of solar power paired with complementary resources.

“Ohio has a growing economic development cycle which includes Ohio farmers, Ohio solar panels, Ohio solar projects and now these large buyers of electricity like Intel. This cycle continues Ohio’s history of energy production and ensures that the benefits of this development remain with Ohioians,” he added.

www.ohiosolarcoalition.com

Nancy Lesic, This email address is being protected from spambots. You need JavaScript enabled to view it., 216.392.9634

HOUSTON--(BUSINESS WIRE)--PNC Bank, National Association, as the successor trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders of its Units of beneficial interest (the “Unit Holders”) of $4,821,486.55 or $0.103446 per Unit, based primarily upon the reported production during the month of November 2021. The distribution is payable February 14, 2022, to the Unit Holders of record as of January 31, 2022.

For the production month of November 2021, the operator of the Trust’s subject interests, Hilcorp San Juan L.P. (“Hilcorp”), reported to the Trust net profits of $6,606,455 ($4,954,841 net royalty amount to the Trust).

Hilcorp reported $10,122,294 of revenue from the Subject Interests for the production month of November 2021. The reporting month of November 2021 includes an estimated $100,000 for non-operated income. For the Subject Interests, Hilcorp reported $3,515,839 of production costs during the production month of November 2021. Production costs consist of $2,168,502 of lease operating expenses, $1,316,130 of severance taxes and $31,207 of capital costs.

Based upon information Hilcorp provided to the Trust, gas volumes for the subject interests for November 2021 totaled 2,135,248 Mcf (2,372,498 MMBtu), as compared to 2,238,507 Mcf (2,487,230 MMBtu) for October 2021. Dividing revenues by production volume yielded an average gas price for November 2021 of $4.60 per Mcf ($4.14 per MMBtu), as compared to an average gas price for October 2021 of $4.35 per Mcf ($3.92 per MMBtu).

Hilcorp has informed the Trust that it has completed the implementation of its new accounting system. Hilcorp began reporting actual, instead of estimated, production for the June 2021 production month (corresponding to the August 2021 Trust reporting month) and that it intends to continue to report actual production going forward. The remaining months of non-operated revenue and non-operated severance tax actualizations for prior periods will be accounted for and reported in future distribution reports. At this time, the amount of these actualizations is unknown. The Trustee will coordinate with Hilcorp on the timing of any further actualizations and will communicate that timing to the Unit Holders.

The Trustee also continues to engage with Hilcorp regarding its ongoing accounting and reporting to the Trust, and the Trust’s third-party compliance auditors continue to audit all payments made by Hilcorp to the Trust, including adjustments, actualizations, and recoupments. The Trustee continues to consult with outside counsel to review the rights of the Trust with respect to these matters and to evaluate any available potential legal remedies.

Except for historical information contained in this news release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally are accompanied by words such as “estimates,” “intends,” “unknown,” “plan,” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, certain information provided to the Trust by Hilcorp, volatility of oil and gas prices, governmental regulation or action, litigation, and uncertainties about estimates of reserves. These and other risks are described in the Trust’s reports and other filings with the Securities and Exchange Commission.

San Juan Basin Royalty Trust
PNC Bank, National Association
PNC Asset Management Group
2200 Post Oak Blvd., Floor 18
Houston, TX 77056
website: www.sjbrt.com
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

James R. Wilharm, Senior Vice President and Director of Trust Real Estate Services
Kaye Wilke, Investor Relations, toll-free: (866) 809-4553

DALLAS--(BUSINESS WIRE)--The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.35 per unit for the fourth quarter of 2021. The distribution will be paid on February 11, 2022 to unitholders of record on February 1, 2022.

In 2022, HEP expects to hold the quarterly distribution constant at $0.35 per unit, or $1.40 on an annualized basis. HEP remains committed to its distribution strategy focused on funding all capital expenditures and distributions within operating cash flow and maintaining distributable cash flow of 1.3x or greater with the goal of reducing leverage to 3.0-3.5x.

HEP plans to announce results for its fourth quarter of 2021 on February 22, 2022 before the opening of trading on the NYSE and has scheduled a webcast conference on February 22, 2022 at 4:00 p.m. Eastern time to discuss financial results.

The webcast may be accessed at:
https://events.q4inc.com/attendee/223318006

About Holly Energy Partners, L.P.:

Holly Energy Partners, L.P. (“HEP”), headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including subsidiaries of HollyFrontier Corporation (“HollyFrontier”). HEP through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Texas, New Mexico, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming and Kansas as well as refinery processing units in Kansas and Utah.

This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Please note that one hundred percent (100.0%) of HEP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, HEP’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Forward Looking Statements:

The statements in this press release relating to matters that are not historical facts are “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements use words such as “anticipate,” “project,” “expect,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may,” and similar expressions and statements regarding our plans and objectives for future operations. These statements are based on our beliefs and assumptions, and those of our general partner, using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in our filings with the Securities and Exchange Commission. Although we, and our general partner, believe that the expectations reflected in such forward-looking statements are reasonable, neither we, nor our general partner, can give assurance that our expectations will prove to be correct. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in these statements. Any differences could be caused by a number of factors including, but not limited to:

• the demand for, and supply of, crude oil and refined petroleum products, including uncertainty regarding the effects of the continuing COVID-19 pandemic on future demand for refined petroleum products, in markets we serve;
• HollyFrontier’s and our ability to successfully close the pending acquisition of Sinclair Oil Corporation and Sinclair Transportation Company (collectively, “Sinclair”, and such transactions, the “Sinclair Transactions”), or once closed, integrate the operations of Sinclair with our existing operations and fully realize the expected synergies of the Sinclair Transactions or on the expected timeline;
• the satisfaction or waivers of the conditions precedent to the proposed Sinclair Transactions, including without limitation, the receipt of required regulatory approvals (including clearance by antitrust authorities necessary to complete the Sinclair Transactions on the terms and timeline desired);
• risks relating to the value of our limited partner common units to be issued at the closing of the Sinclair Transactions from sales in anticipation of closing and from sales by the Sinclair holders following the closing of the Sinclair Transactions;
• the cost and potential for a delay in closing as a result of litigation against us or HollyFrontier challenging the Sinclair Transactions;
• risks and uncertainties with respect to the actual quantities of petroleum products and crude oil shipped on our pipelines and/or terminalled, stored and throughput in our terminals and refinery processing units;
• the economic viability of HollyFrontier, our other customers and our joint ventures' other customers, including any refusal or inability of our or our joint ventures' customers or counterparties to perform their obligations under their contracts;
• our ability to purchase and integrate future acquired operations;
• our ability to complete previously announced or contemplated acquisitions;
• the availability and cost of additional debt and equity financing;
• the possibility of temporary or permanent reductions in production or shutdowns at refineries utilizing our pipeline, terminal facilities and refinery processing units, due to reasons such as infection in the workforce, in response to reductions in demand or lower gross margins due to the economic impact of the COVID-19 pandemic, and any potential asset impairments resulting from such actions;
• the effects of current and/or future governmental regulations and policies, including the effects of current and/or future restrictions on various commercial and economic activities in response to the COVID-19 pandemic;
• delay by government authorities in issuing permits necessary for our business or our capital projects;
• our and our joint venture partners' ability to complete and maintain operational efficiency in carrying out routine operations and capital construction projects;
• the possibility of terrorist or cyber-attacks and the consequences of any such attacks;
• general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States;
• the impact of recent or proposed changes in tax laws and regulations that affect master limited partnerships; and
• other financial, operational and legal risks and uncertainties detailed from time to time in our Securities and Exchange Commission filings. All forward-looking statements included in this press release and all subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements.

The forward-looking statements included in this press release speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Holly Energy Partners, L.P.
Craig Biery, 214-954-6511
Vice President, Investor Relations
or
Trey Schonter, 214-954-6511
Investor Relations

Victor Valley facility is the first in California to make renewable natural gas from both wastewater and food waste and inject into a utility pipeline

BURLINGTON, Ontario & VICTORVILLE, Calif.--(BUSINESS WIRE)--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) announced today that its subsidiary SoCal Biomethane will officially commission operations at the Victor Valley Wastewater Reclamation Authority (VVWRA) facility in Victorville, California. The facility is the first wastewater treatment plant in California to inject renewable natural gas made from both wastewater solids and food waste into a utility pipeline.

The Anaergia subsidiary upgraded VVRWA’s existing wastewater treatment plant, retrofitting existing anaerobic digesters with Anaergia’s high-throughput and high-efficiency Omnivore™ technology and Anaergia’s biogas conditioning and upgrading technology package that produces pipeline-quality renewable natural gas (RNG). The additional technologies allow the facility to not only process wastewater, but also take in food waste collected by the region’s waste haulers, preventing methane emissions from these sources and creating renewable, carbon-negative fuel to replace fossil natural gas. The facility will be capable of producing and injecting up to 320,000 MMBTU of RNG into the region’s gas utility pipeline each year.

The new plant will assist local municipalities in complying with California’s Senate Bill 1383 regulations, which require every municipality to divert residents’ and businesses’ food and other organic waste from landfills, with the goal of reducing the amount of organic waste landfilled by 75% by 2025.

Anaergia delivered this project as a public-private-partnership (P3) building this state-of-the-art infrastructure with financing partners North Sky Capital and Live Oak Bank, construction partner W.M. Lyles, and gas utility partner Southwest Gas. The P3 enabled the project to be delivered in record time and enhance VVWRA’s wastewater infrastructure with greater capacity and resiliency.

“Under Senate Bill 1383, every California municipality must now find a way to reduce food waste and other organic waste going to landfills. Anaergia offers a unique set of technologies that convert existing infrastructure at wastewater treatment plants into highly efficient systems capable of treating both wastewater residual solids as well as food waste,” said Andrew Benedek, Chairman and CEO of Anaergia. “In this way, existing infrastructure can be extended to serve new California requirements in a very efficient way. The net result is beneficial to all concerned, as it lowers the cost of operating a wastewater plant, helps the municipality meet the organic waste disposal requirements, and helps our planet by creating carbon-negative fuel. Our partnership with VVWRA is an example for the entire state on how to solve the current requirements efficiently.”

“The renewable natural gas being created here will be used as a carbon-negative transportation fuel to displace petroleum and to help California achieve its clean air and climate goals while supporting California clean tech jobs,” said Richard W. Corey, Executive Officer, California Air Resources Board.

“Private investments in green innovations are helping us recycle more food and yard waste into valuable new products,” CalRecycle Director Rachel Machi Wagoner said. “These strong partnerships are critical to growing California’s circular economy and creating a safer climate.”

“These infrastructure improvements provide operational and capacity resiliency, greater operational flexibility and the increased digester capacity we’ll need to serve the future growth of our community,” said Bill Holland, Chairman of the VVWRA Board. “In addition, the ability to process food waste and create RNG benefits our agency economically.”

“Helping our customers and the communities we serve reduce emissions is very important to us. We are very proud of our collaboration with VVWRA to introduce RNG to the Southwest Gas system. This carbon-negative RNG flowing through our system will make a major difference,” said Southwest Gas CEO John Hester. “The facility is slated to create enough renewable natural gas to offset the emissions of more than 2,000 homes each year. We are pleased to be part of this important project, which advances communities towards a clean-energy future.”

Methane has a far greater short-term effect in warming the planet than carbon dioxide. It has become a key focus in the battle against climate change because reducing methane emissions curbs the adverse impacts of climate change more significantly in the immediate term compared to carbon dioxide reductions.

Landfills are California's number one source of methane emissions, according to flyover readings, and Senate Bill 1383 was designed to combat that issue. State agencies estimate that at least 50-100 new or expanded facilities will be needed to annually recycle the over 20 million tons of organic waste that will be collected from residents and commercial businesses and diverted from landfills as the law is implemented.

Across the United States, more than 43% of what gets sent to landfills is either food waste, yard clippings or paper/cardboard, much of which could be diverted from landfills and anaerobically digested to make RNG.

About Anaergia

Anaergia was created to eliminate a major source of greenhouse gases by cost effectively turning organic waste into renewable natural gas (“RNG”), fertilizer and water, using proprietary technologies. With a proven track record from delivering world-leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the municipal solid waste, municipal wastewater, agriculture, and food processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.

For further information please see: www.anaergia.com

For media relations please contact: Melissa Bailey, Director, Marketing & Corporate Communications, This email address is being protected from spambots. You need JavaScript enabled to view it.

For investor relations please contact: This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of January 2022. Unitholders of record on January 31, 2022 will receive distributions amounting to $0.111768283 per unit, payable on April 29, 2022. The Trust received $266,984, all of which came from the New Mexico portion of the Trust’s San Juan Basin properties operated by Hilcorp San Juan LP, an affiliate of Hilcorp Energy Company. No income was received in January 2022 from any other working interest owner. This month, after the Trust’s withholding for cash reserves and the payment of administrative expenses, income from the distributable net profits was $208,290.

The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. In addition, as further described in the Trust’s most recent filing on Form 10-Q, distributions to unitholders are expected to be materially reduced during 2022, as the Trust intends to increase cash reserves from $1.0 million to a total of $2.0 million to provide added liquidity.

Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.

This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, prices received by working interest owners and other risks described in the Trust’s Form 10-K for the year ended December 31, 2020, Form 10-Q for the quarter ended March 31, 2021, Form 10-Q for the quarter ended June 30, 2021 and Form 10-Q for the quarter ended September 30, 2021. Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.

Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020

http://mtr.q4web.com/home/default.aspx

DUBLIN--(BUSINESS WIRE)--The "Global Automotive Engine Oil Market 2022-2026" report has been added to ResearchAndMarkets.com's offering.

The publisher has been monitoring the automotive engine oil market and it is poised to progress at a CAGR of 3.20% during the forecast period.

The report on the automotive engine oil market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growing number of vehicles in use and APAC driving market revenue.

The automotive engine oil market analysis includes the application segment and geographic landscape. This study identifies the growing demand for full synthetic engine oil as one of the prime reasons driving the automotive engine oil market growth during the next few years.

Companies Mentioned

• BP Plc
• Chevron Corp.
• China Petrochemical Corp.
• Eni S.p.A
• Exxon Mobil Corp.
• FUCHS PETROLUB SE
• MOTUL SA
• Petroliam Nasional Berhad
• Royal Dutch Shell Plc
• Valvoline Inc.

The report on automotive engine oil market covers the following areas:

• Automotive engine oil market sizing
• Automotive engine oil market forecast
• Automotive engine oil market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive engine oil market vendors that include BP Plc, Chevron Corp., China Petrochemical Corp., Eni S.p.A, Exxon Mobil Corp., FUCHS PETROLUB SE, MOTUL SA, Petroliam Nasional Berhad, Royal Dutch Shell Plc, and Valvoline Inc. Also, the automotive engine oil market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Key Topics Covered:

1. Executive Summary

• Market Overview

2. Market Landscape

• Market ecosystem
• Value chain analysis

3. Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

4. Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

5. Market Segmentation by Application

• Market segments
• Comparison by Application
• Passenger vehicles - Market size and forecast 2021-2026
• Commercial vehicles - Market size and forecast 2021-2026
• Market opportunity by Application

6. Customer landscape

7. Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2021-2026
• Europe - Market size and forecast 2021-2026
• North America - Market size and forecast 2021-2026
• South America - Market size and forecast 2021-2026
• MEA - Market size and forecast 2021-2026
• Key leading countries
• Market opportunity By Geographical Landscape
• Market drivers
• Market challenges
• Market trends

8. Vendor Landscape

• Overview
• Landscape disruption

9. Vendor Analysis

• Vendors covered
• Market positioning of vendors

10. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/ed4nls

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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