Advanced technology paired with global hydrogen hubs means lower transportation costs and fewer emissions
AUSTIN, Texas--(BUSINESS WIRE)--Global industrial software and technology leader Emerson (NYSE: EMR) announced today a multiyear strategic framework agreement with BayoTech, an innovator in hydrogen solutions, to accelerate the delivery of hydrogen around the world. Emerson will deliver advanced automation technologies, software and products to enable BayoTech to build hundreds of hydrogen units to produce cleaner, lower-cost hydrogen.
“Across the globe, industries and organizations are searching for sustainable solutions to solve their most pressing problems,” said Mike Train, chief sustainability officer of Emerson. “Emerson’s agreement with BayoTech accelerates the development and adoption of hydrogen at scale as a critical step forward in diversifying our global energy mix.”
BayoTech’s modular hydrogen generation units produce up to 1,000 kilograms per day, enough to fill as many as 200 hydrogen fuel cell vehicles. BayoTech's patented technology requires less feedstock, which means lower carbon emissions and less cost to produce hydrogen than traditional reformers. To meet growing hydrogen demand, BayoTech is leveraging its core technology to develop 5-, 10- and 20-tonne units, which will drive further efficiencies. Using Emerson’s programmable logic controller and edge control technologies, remote monitoring and Microsoft Azure IoT Suite, the unmanned, fully autonomous skids will operate and be monitored remotely from BayoTech’s Albuquerque, New Mexico headquarters.
“BayoTech plans on becoming the largest distributed hydrogen company in the world,” said Mo Vargas, CEO of BayoTech. “Emerson’s advanced technology is the right choice to support our vision of disrupting the established centralized hydrogen supply chain with a new, highly efficient model of local autonomous production hubs.”
“This agreement between BayoTech and Emerson will make hydrogen technology more accessible to more places across the world,” said Linh Austin, COO of BayoTech. “Together, we are creating a solution to lessen the carbon footprint of countless customers as we build a sustainable – and more affordable – global hydrogen supply chain.”
These hydrogen generation units are already being built and will be placed in BayoGaaS™ hydrogen hubs and at customer sites throughout the United States and other global locations. From the hubs, locally produced hydrogen will be distributed to nearby consumers via BayoTech high-pressure gas transport and storage equipment, which can transport three times more hydrogen per trip than traditional steel tube trailers. The higher payloads translate into lower transportation costs, higher driver productivity and less carbon emissions.
The strategic framework agreement with BayoTech supports Emerson’s commitment to creating innovative technologies and industry expertise in the rapidly developing hydrogen sector. From storing renewable energy to fueling heavy transport, climate-friendly hydrogen has several energy and non-energy uses. Harnessing hydrogen enables industries to choose clean energy as a cost-effective solution to their business needs.
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial and Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.
About BayoTech
BayoTech, an innovator in hydrogen solutions, is committed to addressing the global need for reliable, cost-effective, and low-carbon hydrogen. BayoTech sites hydrogen production close to demand and distributes it to nearby consumers via high-pressure gas transport and storage equipment. Customers are accelerating the decarbonization of their energy and transportation systems through BayoTech's supply of hydrogen molecules, sale and lease of equipment, and zero-emission power solutions. Learn more at www.bayotech.us.
For Emerson
Denise Clarke This email address is being protected from spambots. You need JavaScript enabled to view it.
512.587.5879
High-temperature “Superconductor” technology designed to enhance grid resiliency for customers
CHICAGO--(BUSINESS WIRE)--The U.S. Department of Homeland Security (DHS) and the U.S. Department of Energy (DOE) participated today in an event hosted by ComEd to spotlight technology that will enhance grid reliability for ComEd customers experiencing more frequent and severe storms due to climate change and reduce the impact of cyber and physical threats.
Developed by the American Superconductor Company (AMSC) and funded in part by the DHS Science and Technology Directorate, the Resilient Electric Grid (REG) system uses a high-temperature superconductor wire that can carry 200 times the voltage of standard copper wire. This requires a refrigeration process that cools liquid nitrogen to minus 337 degrees Fahrenheit. The system injects the liquid nitrogen into the wire assembly to keep it cold enough to achieve superconductivity, which eliminates electrical resistance and energy loss. ComEd is the first utility in the nation to install the AMSC REG system into the grid.
“ComEd is providing our customers record levels of reliability, but we need to embrace innovation to continue to enhance the power grid and deliver the results families and businesses depend on,” said Terence R. Donnelly, president and COO, ComEd. “We are grateful to DHS for its investment in this technology, and we are proud to be the first utility in the nation to permanently install it into the grid.”
“Today’s conference highlights how investments in science and technology can pave the way for new capabilities and new innovation,” said Alexander Joves, regional director, DHS Cybersecurity and Infrastructure Security Agency. “We all know how critical the grid is to our everyday life, our economy, our national security and our well-being. Strengthening the security and resilience of critical infrastructure is a major mission of DHS.”
ComEd will test and monitor the superconductor-based system over the coming year and evaluate connecting it to multiple substations, which would create a back-up system to keep power flowing in the event of a major power grid interruption.
Daniel P. McGahn, chairman, president and CEO, AMSC, believes the REG system enables electric utilities to think about the grid more like other networked infrastructure. “Traditional grid design has called for isolating substations, which enables utilities to protect their systems but that prevents them from being able to reroute power from one substation to another,” he said. “The REG system allows for substations to be interconnected, creating the flexibility to provide a pathway to move power from one substation to another. Utilities that have deployed innovative technology, like ComEd, are well positioned to benefit from the REG system and enhance service to customers.”
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Superconductor B-Roll Package V2 9-29-2021.mp4 (vimeo.com)
ComEd Media Relations
David O’Dowd
(312) 394-3500
Sustaining Futures, Raising Communities program announces new partnership, next steps in project
NORTH CANTON, Ohio--(BUSINESS WIRE)--As part of its Sustaining Futures, Raising Communities program, Saint-Gobain North America (SGNA) today announced its new partnership with Habitat for Humanity East Central Ohio. SGNA will donate the Sustaining Futures, Raising Communities home to Habitat, which will then sell the home with an affordable mortgage to a family who will benefit most from this revolutionary home concept. The family will move into the home in North Canton, Ohio, by early 2022.
“We are immensely proud to work with an organization that has a strong track record and commitment to making homes more attainable for all families,” said Jean Angus, CEO of Saint-Gobain Life Sciences based in Solon, Ohio. “This partnership between SGNA and Habitat is an incredible step in making sustainable homeownership more accessible for families across the country.”
The Sustaining Futures, Raising Communities home follows the concept of universal design, meaning it will be accessible to anyone—regardless of their age, potential disabilities or other factors.
The home will also be zero energy ready, meaning that with solar panel installation, the total amount of energy used is equal to the amount of renewable energy created on site. Zero energy ready homes are cost effective in comparison to standard homes because of the savings on energy costs and utility bills. This increases the affordability of homeownership for the family who moves into the Sustaining Futures, Raising Communities home.
“Through this partnership, we see a future full of opportunity—creating homes that stand the test of time and provide comfort and a sense of belonging for the owners,” said Beth Lechner, executive director of Habitat. “All of us at Habitat for Humanity East Central Ohio are thrilled about this project’s positive community impact and the opportunity to discover new and innovative ways to build a better home for tomorrow, today.”
Habitat for Humanity East Central Ohio is a leader in affordable housing solutions for low to moderate income families and individuals. This new partnership brings together SGNA’s vast knowledge of building products and processes and Habitat’s expertise in educating families and leading them toward strength, stability, and self-reliance through homeownership.
“The purposes of Habitat and Saint-Gobain intersect in the common goal focused on making a human impact through construction. Saint-Gobain North America and Habitat for Humanity East Central Ohio are ideal partners,” said Mark Rayfield, CEO of SGNA. “We look forward to donating this zero energy ready, universal design house to Habitat. It will bring both comfort and energy efficiency to the family who will soon make it their home.”
More information on the family moving into the Sustaining Futures, Raising Communities home will be announced in the coming months. To learn more about the program and follow its progress, please visit sustainingfuturesraisingcommunities.com and follow along on social media using the hashtag #SustainingFuturesRaisingCommunities.
About Saint-Gobain
Saint-Gobain designs, manufactures and distributes materials and solutions for the construction, mobility, healthcare and other industrial application markets. Developed through a continuous innovation process, they can be found everywhere in our living places and daily life, providing wellbeing, performance and safety, while addressing the challenges of sustainable construction, resource efficiency and the fight against climate change. This strategy of responsible growth is guided by the Saint-Gobain purpose, “MAKING THE WORLD A BETTER HOME”, which responds to the shared ambition of all the women and men in the Group to act every day to make the world a more beautiful and sustainable place to live in.
€38.1 billion in sales in 2020
More than 167,000 employees, located in 70 countries
Committed to achieving Carbon Neutrality by 2050
For more information about Saint-Gobain, visit www.saint-gobain.com and follow us on Twitter @saintgobain.
About Habitat for Humanity East Central Ohio
Serving Stark, Carroll, Tuscarawas, Harrison, and Jefferson Counties, Habitat for Humanity East Central Ohio is driven by the vision that everyone needs a decent place to live. People partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and purchase the homes with an affordable zero interest mortgage. Through financial support, volunteering, or adding a voice to support affordable housing, everyone can help families achieve the strength, stability, and self-reliance they need to build better lives for themselves. Through shelter, Habitat empowers. To learn more, visit habitateco.org.
Media
Katie Coulter, Account Executive
FrazierHeiby
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Saint-Gobain North America
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Energy Service Disconnections for Non-Payment Will Continue to Be Paused, Now Through End of 2021
PG&E Automatically Enrolling All Residential and Small Business Customers with Past Due Balances Over 60 days in New Extended Payment Arrangements
SAN FRANCISCO--(BUSINESS WIRE)--As part of our ongoing comprehensive efforts to help customers financially impacted by the COVID-19 pandemic, Pacific Gas and Electric Company (PG&E) announced today service disconnections will not resume this year. The moratorium on energy service disconnections put in place by the California Public Utilities Commission (CPUC) in March 2020 is formally ending today but service disconnections will not resume in 2021.
PG&E is automatically enrolling all residential and small business customers with past due balances over 60 days in new extended payment arrangements. We are also closely monitoring the development and implementation of the California Arrearage Payment Program (CAPP) included in the 2021-22 California State Budget. As part of the CAPP process, PG&E will not resume disconnections for residential and commercial customers eligible for CAPP until the CAPP program is finalized.
“We’ve been partnering with local, state and utility leaders to ensure our customers in need have access to critical assistance as the impacts of the pandemic continue to evolve and the statewide disconnection moratorium ends today. PG&E will not immediately start shutting off service for nonpayment,” said Marlene Santos, PG&E executive vice president and chief customer officer.
The newly established CAPP program will offer financial assistance for California energy utility customers to help reduce past due energy bill balances accrued during the pandemic. Administered by the Department of Community Services and Development (CSD), the CAPP program dedicates $1 billion in federal American Rescue Plan Act funding to address Californian's energy debts incurred from March 4, 2020, to June 15, 2021.
Utility customers do not need to apply to receive assistance under the CAPP program. If a customer’s account is eligible — 60 days or more behind on payments — a credit will be automatically applied to some or all the customer’s bill, depending on availability of funds and the combined needs of all utility customers.
For months, PG&E has been working closely with CSD on program implementation details. PG&E anticipates CAPP funding to be applied directly to eligible customers’ accounts in the first quarter of 2022.
To coincide with the end of the moratorium today, PG&E has also automatically enrolled more than 450,000 eligible residential and small business customers in the new COVID-19 payment plan program this month. The newly established program automatically enrolls eligible customers who are 60 days past due in extended payment plans. Customers will be automatically enrolled on an ongoing basis based on eligibility through September 2022 to avoid service disconnections. Customers automatically enrolled in the new extended payment plans will be eligible for CAPP funding.
Ways for Customers to Save on Energy Bills
We encourage customers struggling to pay their bills to learn more about the following programs. Some customers can enroll in various programs without impacting eligibility for the extended payment plan or CAPP funding:
PG&E remains committed to providing support for customers during this transition, and we are here to help. Customers having a hard time paying their bills should contact PG&E immediately at (800) 743-5000 or visit pge.com/covid19. Financial resources for business customers are available here.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
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HOUSTON--(BUSINESS WIRE)--Enstor Gas, LLC (“Enstor”), the largest privately owned gas storage company in the U.S., today announced the release of its first ESG Report. The report provides detail on the company’s environmental, social, and governance (ESG) performance in calendar year 2020 and includes specific metrics in each category.
“At Enstor, our goal is to create and preserve long-term sustainability and value for all our stakeholders, including investors, employees, customers, and the communities where we live and work,” said Enstor CEO Paul Bieniawski. “We attempt to be a responsible operator in everything we do including our dedication to the communities we serve and our commitment to safe, socially and environmentally responsible operations that protect the well-being of our employees, the public, and the environment.”
Report highlights are available here. The full report is available to Enstor stakeholders by emailing a request to This email address is being protected from spambots. You need JavaScript enabled to view it..
About Enstor Gas, LLC
Enstor Gas is the largest privately owned natural gas storage company in the United States. Headquartered in Houston, the company owns and operates seven active underground natural gas storage facilities in five states with more than 134 BCF in working gas capacity. Enstor has approximately 179 miles of transmission pipelines and 39 interconnects to major transmission pipelines. Enstor is backed by ArcLight Capital Partners, LLC, a leading private equity firm focused on North American energy infrastructure investments. For more information, please visit www.enstorinc.com.
Casey Nikoloric, Managing Principal
TEN|10 Group
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IncOder CORE is compact, easy to install and reliable, delivering superior performance for a wide range of robotic segments
BEDFORD, Mass.--(BUSINESS WIRE)--Celera Motion, an award-winning business unit of Novanta Inc., announced today another innovative new device for precise angle measurement: a compact, ultra-lightweight inductive angle encoder, ideal for a variety of surgical, medical and industrial robotics.
IncOder CORE is a non-contact device featuring the robust and reliable position sensing technology of IncOder — all fully contained in a stacked printed circuit board (PCB) kit that reduces OEM system mass.
“While IncOder remains the market leader in harsh environment position sensing, IncOder CORE delivers superb performance in an extraordinarily lightweight package,” said Mike Mainvielle, Vice President of Product Management and Marketing for Celera Motion. “Like all IncOder devices, it’s easy to install and uses proven technology that provides worry-free, accurate measurements 24/7.”
IncOder CORE is well suited for integration into rotary joints. The position sensor utilizes a unique field-proven inductive technique, delivering highly repeatable, reliable, temperature-stable performance.
IncOder CORE is designed primarily for segments including surgical robotics, medical robotics, rotary actuators and industrial robotic systems. It’s now offered in a compact 44mm size, with a 10.4mm thru bore and options for customization available. More sizes will be coming soon.
Features of the IncOder CORE include:
Benefits of the IncOder CORE include:
IncOder CORE has been optimized for integration into host system mechanics. Each sensor includes a passive rotor target paired with an active stator — both featuring a large thru bore and practical M2 screw mounting features.
IncOder CORE can be configured to output up to 17 bits of absolute digital position data in a range of digital protocol options, including BiSS-C, SSI, SPI and Asynchronous Serial (ASI) outputs. It can be supplied with axial or radial connector options.
For more information visit: https://www.celeramotion.com/incoder-core/
About Celera Motion
Celera Motion, headquartered in Bedford, Mass., is a market leading provider of motion control components and subsystems for OEMs serving a variety of medical and advanced industrial markets. Celera Motion offers precision encoders, motors, and customized mechatronic solutions that help customers solve challenging motion control problems. For more information, visit www.celeramotion.com.
About Novanta
Novanta is a trusted technology partner to OEMs in the medical and advanced industrial technology markets, with deep proprietary expertise in photonics, vision and precision motion technologies. For more information, visit www.novanta.com
Mary Jane McCraven
Celera Motion, A Novanta Company
+1-978-944-6378
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OAKLAND, Calif.--(BUSINESS WIRE)--Navis, the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global shipping industry, announced that its long-time N4 customer, Porto Itapoá has added and successfully implemented its Berth Window Management solution to improve berth planning and execution decisions and reduce inefficiency.
Completing its 10th year in operation in June 2021, Porto Itapoá is one of the largest and most important port terminals in Brazil and is considered one of the most agile and efficient terminals in Latin America. Central to its success are its strategic location on the northern coast of Santa Catarina – acting as an important link for the supply chains of the country with the rest of the world – and its ability to handle the largest ships operating in Brazil. Through the first half of the year, the port has reported a 40% increase in imports and an 11% increase in container traffic, processing a total of 238,000 containers in the first six months of 2021.
Porto Itapoá has invested in Navis’ Berth Window Management solution to cut down inefficiencies of verifying information from numerous disparate sources prior to confirming final berthing plans. Port Itapoá selected Navis’ solution because it:
“When it comes to optimizing the berth planning process, Navis’s solution was the clear winner for us,” said Thiago Manoel dos Santos, Operations Manager, Porto Itapoá. “In a month’s time, we were able to implement the solution which will not only remove much of the inherent uncertainty in planning the berth schedule of vessels but enable us to reduce time spent on these activities, maximize berth space, and safely and more efficiently process more vessels while lowering the total cost per move.”
“With a goal of providing visibility and ease of access to information and optimizing port operations, we were thrilled to support Porto Itapoá in the implementation of Navis Berth Window Management,” said Carlos Lopez Barbera, VP of Product Management at Navis. “Most vessel and berth planning in the maritime industry is still done manually, so digitizing a top Latin American port allowed the terminal to eliminate time consuming tasks and gain visibility into real-time information and data.”
For more information visit www.navis.com.
About Navis, LP
Navis is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations. www.navis.com.
Jennifer Grinold
Navis, LLC
T+1 510 267 5002
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Anna Patrick
Gregory FCA
T+1 212 398 9680
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC plc (NYSE: FTI) (Paris: FTI) (the “Company”) announced today the extension of its previously announced cash tender offer (the “Tender Offer”) to purchase up to $250 million aggregate principal amount (the “Maximum Tender Amount”) of its 6.500% Senior Notes due 2026 (the “Notes”).
The Tender Offer’s extended expiration time shall be 11:59 p.m., New York City time, on October 7, 2021 (the “Expiration Time”).
As of 5:00 p.m., New York City time, on September 14, 2021 (the “Early Tender Time”), $164,113,000 aggregate principal amount of the Notes had been validly tendered and not validly withdrawn. These Notes were accepted by the Company on September 15, 2021 without proration.
Additionally, the Company reiterates that the Early Tender Premium of $30.00 shall apply from September 15, 2021 to at or before the Expiration Time. The terms and conditions of the Tender Offer otherwise remain unchanged and are set forth in an Offer to Purchase (the “Offer to Purchase”), dated August 31, 2021.
If more than the Maximum Tender Amount of Notes are validly tendered, and Notes are accepted for purchase, the amount of Notes that will be purchased will be prorated as described in the Offer to Purchase. Only Notes validly tendered at or before the Expiration Time will be subject to possible proration. The Company reserves the right, but is not obligated, to increase the Maximum Tender Amount in its sole discretion. The Company will return any Notes not accepted for purchase promptly after the Expiration Time.
The Company has engaged Citigroup Global Markets Inc. and BofA Securities, Inc. to act as the dealer managers for the Tender Offer. The Information Agent for the Tender Offer is Global Bondholder Services Corporation. Copies of the Offer to Purchase and related offering materials are available by contacting the Information Agent at (866) 470-3700 (toll-free) or (212) 430-3774. Questions regarding the Tender Offer should be directed to Citigroup Global Markets, Inc. at (800) 558-3745 (toll-free) or (212) 723-6106 (collect) and BofA Securities, Inc. at (980) 388-3646 (collect) or This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release is not an offer to purchase or a solicitation of an offer to sell any securities. The Tender Offer is being made solely pursuant to the terms of the Offer to Purchase. The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or other laws of such jurisdiction.
Forward-Looking Statements
This release contains forward-looking statements. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
United Kingdom
The communication of this press release and any other documents or materials relating to the Tender Offer is not being made and such documents and/or materials have not been approved by an authorized person for the purposes of section 21 of the Financial Services and Markets Act 2000 (“FSMA”). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may be communicated to (1) those persons who are existing members or creditors of the Company or other persons within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, and (2) to any other persons to whom these documents and/or materials may lawfully be communicated.
European Economic Area (EEA)
In any European Economic Area (EEA) Member State (the “Relevant State”), this press release is only addressed to and is only directed at qualified investors in that Relevant State within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017, as amended (the “Prospectus Regulation”). Each person in a Relevant State who receives any communication in respect of the Tender Offer contemplated in this press release will be deemed to have represented, warranted and agreed to and with each Dealer Manager and the Company that it is a qualified investor within the meaning of Article 2(e) of the Prospectus Regulation.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
Matt Seinsheimer
Vice President, Investor Relations
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Media relations
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Vice President, Corporate Communications
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Director, Public Relations
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DUBLIN--(BUSINESS WIRE)--The "Sodium Petroleum Sulfonate Global Market Insights 2021, Analysis and Forecast to 2026, by Manufacturers, Regions, Technology, Application" report has been added to ResearchAndMarkets.com's offering.
This report describes the global market size of Sodium Petroleum Sulfonate from 2016 to 2020 and its CAGR from 2016 to 2020, and also forecasts its market size to the end of 2026 and its CAGR from 2021 to 2026.
For the geography segment, regional supply, demand, major players, price is presented from 2016 to 2026.
This report covers the following regions:
The key countries for each region are also included such as the United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil.
For the competitor segment, the report includes global key players of Sodium Petroleum Sulfonate as well as some small players.
The information for each competitor includes:
Types Segment:
Companies Covered:
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Sources
3.2.1 Data Sources
3.2.2 Assumptions
3.3 Research Method
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Sodium Petroleum Sulfonate Analysis
6.2.1 Technology Analysis
6.2.2 Cost Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Trading Analysis
8.1 Export of Sodium Petroleum Sulfonate by Region
8.2 Import of Sodium Petroleum Sulfonate by Region
8.3 Balance of Trade
Chapter 9 Historical and Forecast Sodium Petroleum Sulfonate Market in North America (2016-2026)
Chapter 10 Historical and Forecast Sodium Petroleum Sulfonate Market in South America (2016-2026)
Chapter 11 Historical and Forecast Sodium Petroleum Sulfonate Market in Asia & Pacific (2016-2026)
Chapter 12 Historical and Forecast Sodium Petroleum Sulfonate Market in Europe (2016-2026)
Chapter 13 Historical and Forecast Sodium Petroleum Sulfonate Market in MEA (2016-2026)
Chapter 14 Summary For Global Sodium Petroleum Sulfonate Market (2016-2021)
14.1 Sodium Petroleum Sulfonate Market Size
14.2 Sodium Petroleum Sulfonate Demand by End Use
14.3 Competition by Players/Suppliers
14.4 Type Segmentation and Price
Chapter 15 Global Sodium Petroleum Sulfonate Market Forecast (2021-2026)
15.1 Sodium Petroleum Sulfonate Market Size Forecast
15.2 Sodium Petroleum Sulfonate Demand Forecast
15.3 Competition by Players/Suppliers
15.4 Type Segmentation and Price Forecast
Chapter 16 Analysis of Global Key Vendors
For more information about this report visit https://www.researchandmarkets.com/r/bj9k8g
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Project is Part of a $167MM Plan for 2023 Reopening of the Landmark Hotel
IRVINGTON, N.Y.--(BUSINESS WIRE)--#CPACEFinance--X-Caliber Funding (X-Caliber), a national, direct commercial real estate lender, and CastleGreen Finance (CastleGreen), an affiliate company that provides capital focused on Commercial Property Assessed Clean Energy (C-PACE) financing, are pleased to announce the closing of a $94MM joint transaction as part of a multimillion-dollar renovation to reopen the Long Beach, California landmark Breakers Hotel & Spa. The funding was comprised of a renovation loan and C-PACE financing, earning the distinction of being the largest financing of a single asset under the program in the state of California.
The X-Caliber/CastleGreen team executed the one-stop transaction providing $48.5MM in first mortgage, renovation financing, and $45.5MM in C-PACE financing through the California Statewide Communities Development Authority’s (CSCDA) Open PACE Program. The Open PACE Program provides property owners funding to finance improvements that include energy efficiency, renewable energy, water conservation, and seismic improvements while leveraging contractor networks in California communities. The unique PACE financing is only administered through C-PACE approved lenders and allows borrowers to pay it back over time through a voluntary tax assessment that provides a longer-term, lower-cost financing option coupled with the ability to transfer repayment to the next owner.
The $94MM in financing is part of a $167MM project led by Pacific6 Enterprises, a Long Beach, California partnership, led by John Molina, who purchased the Long Beach Breakers Hotel & Spa in 2017. The firm focuses on projects that bring positive economic and social advancement to their local communities. The property is planned to reopen as a boutique hotel in the first quarter of 2023 and will feature 185 guest rooms, a rooftop pool, several restaurants, and a renovation of the iconic Sky Room.
Chris Callahan, President and CEO of X-Caliber, says he was extremely pleased to work with all of the parties involved in this notable transaction.
“This was our first joint transaction with our affiliate company, CastleGreen, and we were excited to combine our unique capabilities through the C-PACE program to help Pacific6 execute their vision of bringing this hotel back to life while providing more than 220 jobs and significant economic stimulation to vibrant downtown Long Beach. X-Caliber is committed to providing our clients with the best possible solutions for their business goals and we instantly fell in love with the vision for the Breakers Hotel. Our team of experts understood the needs of our friends at Pacific6, and we were pleased to provide a one-stop financing solution for this transformational and impactful initiative.”
The financing will not only provide borrowers with longer-term, lower-cost financing, but it will significantly reduce greenhouse gas emissions at the rate of an estimated 247.2 metric tons of carbon dioxide per year. The C-PACE financing required improvements for this project are estimated to reduce annual greenhouse gas emissions by eliminating the equivalent to 273,800 pounds of burned coal and avoiding 84.3 tons of waste that will be recycled instead of landfilled. These are two of nearly two dozen examples of CO2 reduction that are a direct result of the C-PACE financing for the Breakers Hotel and Spa.
“The CastleGreen team was very proud to work with its partner at X-Caliber to help the Pacific6 team bring this historic asset back to its grandeur of the early 20th century,” said Sal Tarsia, Managing Partner of CastleGreen. “It was a pleasure to bring all of the elements available in the CSCDA Open PACE Program to help benefit Pacific6, a firm truly engaged in the restoration and positive environmental impact of its community.”
“Bringing the Breakers Hotel back to its former purpose and glory has been our intention from day one,” said John Molina, founder of Pacific6. “Long Beach needs this hotel and we’re proud to work with CastleGreen and X-Caliber to make this dream a reality as we transform our city’s downtown neighborhood.”
James Hamill, Managing Director, California Statewide Communities Development Authority, says the project’s financing is an example of how the unique C-PACE program and strong teamwork can make a real impact.
“The Breakers C-PACE financing exemplifies how CSCDA brings effective financing mechanisms to its member cities, such as Long Beach, to create a sustainable present and future,” said Hamill. “We commend the CastleGreen team for its efforts here and look forward to their continued positive impact in the C-PACE space in California.”
Berkadia’s Matt Raptosh, Managing Director, arranged the transaction financing. “This deal could not have been closed without the creativity, commitment, and integrity of the X-Caliber/CastleGreen team. Thanks to their efforts, the city of Long Beach will benefit from the return of this historic hotel as a beautiful and defining feature of its coastal skyline. X-Caliber and CastleGreen were able to lever their expertise in structured finance and C-PACE lending to create an outstanding solution for a very complex deal, all the while providing best-in-class service to the client, Berkadia, and all of the stakeholders from application through closing. We are excited to work with them again in the very near future.”
The 14-story Breakers hotel, which is among the oldest buildings in Long Beach, was built in 1926 and has a star-studded history of hosting guests like John Wayne, Clark Gable, Cary Grant, and Elizabeth Taylor. It is within walking distance to many of Long Beach’s notable features, including the Convention and Entertainment Center, the restaurant district, the Aquarium, and the Long Beach Cruise Terminal. The hotel closed in 1988 and most recently operated as an assistant living facility. The new Breakers Hotel and Spa is projected to reopen in the first quarter 2023.
About X-Caliber –www.x-calibercap.com
X-Caliber is a nationally recognized direct lender that has been building long term relationships with our clients for 30 years. The X-Caliber team offers a broad breadth of experience and capital markets knowledge unrivaled by its competitors. The principals have provided capital in excess of $80 billion to the Commercial Real Estate space over the past two decades.
About CastleGreen Finance –www.castlegreenfinance.com
CastleGreen Finance is a private capital source focused on Commercial PACE (Property Assessed Clean Energy) financing. CastleGreen brings extensive experience in commercial real estate across a broad range of financial disciplines. The real estate experience of the CastleGreen team, combined with its core C-PACE capabilities, provides its clients with the knowledge and resources to create a superior capital stack that meets all its needs and helps to unlock the potential of their commercial real estate. We understand that the most important part of any real estate transaction is showing up with the capital at closing. Our team focuses on the details of every deal to ensure we can get our clients to the finish line.
About Pacific6 – www.pacificsix.com
Pacific6 is a Long Beach, California-based investment and development partnership, capitalized at over $100 million. The partnership's six founders are committed to identifying, investing, and being personally involved in inspiring initiatives that provide both economically and socially positive impacts for the people and communities in which they are located. The current project portfolio includes the award-winning Long Beach Post and the historic Breakers Hotel.
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Amber Howard
212.220.7046
Younger, more knowledgeable consumers leading the charge as electric cars trend toward mass adoption in the near future
WOODCLIFF LAKE, N.J.--(BUSINESS WIRE)--A new consumer survey carried out by MINI USA finds that American consumers are increasingly looking to electrify their daily on-road travel. Releasing the results during National Drive Electric Week, the survey commissioned by Engine’s CARAVAN® reveals that half of all consumers expect the American automotive market to be mostly electric within just 15 years. Not only that, but 80% of those surveyed would also consider an electric vehicle (EV) as their primary or secondary vehicle – a clear sign of progress in the mass adoption of EVs as the ideal mode of everyday transportation for both work and leisure.
While range remains a commonly discussed concern relative to consumers’ daily driving patterns, the survey revealed that 78% of respondents do not travel more than 50 miles per day on average. With most all electric cars today offering a range over 100 miles, this shows EVs are compatible for a strong majority of American drivers.
Attainability of EVs has also increased in the eyes of the American consumer. Close to half (47%) of all those surveyed believe that EVs have become more affordable and attainable in the last two years. This is also reflected in the 32% of respondents who claimed they’d consider purchasing an electric car within the next five years.
Younger consumers hold an especially positive attitude toward EVs, with Gen Z and Millennial consumers, indicating they are more likely to consider purchasing an EV in five years at 39% and 41%, respectively. They are also twice as likely to believe that electric cars fun to drive compared to older generations.
“Our latest survey shows that more consumers are shifting their attention to electric vehicles as they become more attainable and compelling to own relative to gas models.” said Mike Peyton, Chief Motorer and Vice President, MINI of the Americas. “EVs are especially becoming more attractive to a new generation – ’Gen EV’ as we say. These are people who are young, fun-seeking and environmentally minded, and want more attainable, fun-to-drive EV choices such as the MINI Cooper SE.
In addition to generational distinctions, regional differences were clear in the survey results. Consumers in Western states felt more optimistic (61%) about electric overtaking gas-powered vehicles in 15 years. In addition, more than half of consumers in the West also responded that they have become more knowledgeable about EVs in the last two years.
In a final observation, the MINI EV survey underscores that education remains a point of continued emphasis in the EV conversation. Despite a significant majority of Americans (78%) driving far less than the range threshold of most EVs, the survey revealed that just under half of respondents believe EV range is compatible with their daily driving patterns. In light of National Drive Electric Week, the MINI survey results show opportunity still exists to have an honest conversation about the place electric vehicles already have on American roadways as a fun, reliable, and accessible option for all.
About the MINI Cooper SE
With a low center of gravity, a powerful electric powertrain, and dynamic handling, the MINI Cooper SE is a true performance car that retains all the fun-to-drive attributes MINI owners have come to know and love.
With an MSRP of $29,900 plus federal EV credits of $7,500, and additional state incentives, the cost for a MINI Cooper SE can be as low $20,000. This makes it one of the most affordable, fun to drive premium EVs on the market.
Owners of a MINI Cooper SE battery electric may realize additional saving of up to $1,200 over a year based on driving habits and U.S. national average energy costs. Plus, with most Americans driving less than 50 miles per day, market data shows that the MINI Cooper SE and its 114-mile range works for many customers.
In addition, the MINI Cooper SE has also recently earned two important distinctions, URBAN GREEN CAR OF THE YEAR as named by Green Car Journal and the number 2 spot in the “Greenest Car” ratings by GreenCars.org. These accolades independently validate the appeal and success of the Cooper SE.
Survey Methodology
The General Population survey was conducted among a sample of 1,009 adults comprising 504 men and 505 women 18 years of age and older on behalf of MINI USA. The online omnibus study was conducted from September 8 - 10, 2021.
About MINI in the US
MINI is an independent brand of the BMW Group. In the United States, MINI USA operates as a business unit of BMW of North America, LLC, located in Woodcliff Lake, New Jersey and includes the marketing and sales organizations for the MINI brand. The MINI USA sales organization is represented in the U.S. through a network of 113 MINI passenger car dealers. MINI USA began selling vehicles in the U.S. in 2002 with the introduction of the MINI Cooper and MINI Cooper S Hardtops. Since then, the MINI Brand in the U.S. has grown to encompass a model range of five unique vehicles.
Journalist notes: Media information about MINI and its products is available to journalists on-line at www.miniusanews.com.
Andrew Cutler
Head of Corporate Communications, MINI USA
201.307.3784
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Rob Duda
MINI USA News Bureau
Senior Vice President, Peppercomm
908.347.1243
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MONHEIM AM RHEIN, Germany--(BUSINESS WIRE)--Due to a technical problem in a third-party synthesis gas unit at the Oberhausen, Germany, site, raw materials to OQ Chemicals are currently restricted. During a regular inspection, a leakage was detected at the cylinder block in the area of the valves. Unfortunately, the compressor had to be taken out of service for safety reasons to perform immediate repairs off-site. As a result, OQ Chemicals cannot produce at target rates.
As the cause for the supply restrictions is outside OQ Chemicals’ immediate control, the company has to declare force majeure for n- & iso-Butyraldehyde, Propionaldehyde, 2- Ethylhexanol, n- & iso-Butanol, and n-Butyl Acetate, with immediate effect. OQ Chemicals will therefore be unable to make deliveries of these products as scheduled. Available volumes will be allocated in a fair and reasonable manner.
Concurrently, OQ Chemicals will be issuing a Sales Control program for Oberhausen-produced products. The company is using all reasonable efforts to mitigate the effects of this incident and to limit the impact on its customers. OQ Chemicals will keep customers regularly informed of its status and ability to schedule deliveries.
About OQ Chemicals
OQ Chemicals (formerly Oxea) is a global manufacturer of oxo intermediates and oxo derivatives, such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These products are used for the production of high-quality coatings, lubricants, cosmetics and pharmaceutical products, flavours and fragrances, printing inks and plastics. OQ Chemicals employs more than 1,400 people worldwide and is part of OQ, an integrated energy company with roots in Oman. OQ emerged in 2019 upon the successful integration of nine legacy companies. Operating in 13 countries, OQ covers the entire value chain in the hydrocarbon sector from exploration and production through to marketing and distribution of its products. OQ sells its fuels and chemicals in over 60 countries worldwide. For more information about OQ Chemicals, visit chemicals.oq.com.
OQ Chemicals GmbH, Rheinpromenade 4a, 40789 Monheim am Rhein, Germany
Thorsten Ostermann, Communications and Press Relations
Phone: +49 (0)2173 9993-3009, This email address is being protected from spambots. You need JavaScript enabled to view it.
Last 125-megawatt phase of Aquamarine will be completed by year-end 2021
LOS ANGELES--(BUSINESS WIRE)--CIM Group announced today that the first 125-megawatt phase of the Aquamarine solar photovoltaic project at Westlands Solar Park (WSP) has reached commercial operation and is fulfilling its energy contract obligations with Valley Clean Energy Alliance and Silicon Valley Power. Aquamarine’s second 125-megawatt phase will be complete and operational by year-end.
“Bringing clean solar power to California from Aquamarine is a major milestone in the realization of the full potential of our 20,000-acre Westlands Solar Park. As one of the largest solar projects in the U.S., Westlands Solar Park, at full build-out, will have the capacity to deliver 2.7 gigawatts of renewable energy, a substantial resource to utilities and businesses advancing their plans to reduce carbon emissions and meet California’s renewable energy goals,” said Avi Shemesh, Co-Founder and Principal, CIM Group.
Achieving commercial operation follows the approval by Pacific Gas & Electric authorizing Cal-ISO to connect Aquamarine to the power grid. Cal-ISO in turn authorized Aquamarine to begin synchronization and start a power generation test project providing power to the grid. The several week test period was successfully concluded and Aquamarine officially began commercial operations on September 17.
Aquamarine is now generating power to deliver on its previously executed Power Purchase Agreements including a 50-megawatt contract with Valley Clean Energy Alliance, the City of Santa Clara, CA (Silicon Valley Power) for renewable energy credits (REC) associated with 75 megawatts of capacity. CIM Group is currently negotiating additional PPAs with other potential counterparties for Aquamarine and future phases at WSP.
WSP – scale and capacity
WSP is one of the largest permitted solar parks in the world, with the capacity to grow to more than 2,700-megawatts (2.7 gigawatts) of renewable energy at full buildout and with the potential to provide clean energy to more than 1,200,000 homes. The master-planned energy park encompasses more than 20,000 acres in California’s San Joaquin Valley in western Fresno and Kings Counties and is designed to open in phases to meet the needs of public and private utilities and other energy consumers. WSP has a completed and certified programmatic environmental impact report for the entire project and WSP is one of the few renewable energy zones identified as a Competitive Renewable Energy Zone (CREZ) thru the Renewable Energy Transmission Initiative (RETI) process.
WSP and environmental sustainability
CIM Group actively looks for opportunities to apply sustainable principles across its real asset portfolios, and at WSP, CIM is repurposing selenium-contaminated and drainage impaired farmland for the development of clean energy. In addition, WSP seeks to improve air quality in the San Joaquin Valley as the solar park doesn’t generate fine particular pollution which is a major contributor to the area’s historic poor air quality. WSP has garnered strong support from environmental communities including the Sierra Club, NRDC, Defenders of Wildlife, and the Center for Biological Diversity. The goal of CIM’s clean energy projects is to provide solutions to multiple policy objectives for the state of California’s renewable energy mandate including greenhouse gas reduction and carbon free energy.
CIM Group infrastructure and sustainable investment
Since its inception in 1994, CIM has focused on investing in real estate and infrastructure projects located in or serving densely-populated communities throughout the Americas. WSP, located in a designated Opportunity Zone as defined under the 2017 Tax Cuts and Jobs Act, is an example of CIM’s commitment to investing in sustainable assets across communities as well as investing in Opportunity Zones. CIM is a UNPRI signatory and its infrastructure projects have been recognized for sustainability by the California Organized Investment Network (COIN), a division of the California Department of Insurance.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.
Karen Diehl
Diehl Communications
(310) 741-9097
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PG&E and Southern California Edison Announce Joint Agreement to Expand the Free, Confidential Service Available to PG&E Customers 24/7
SAN FRANCISCO--(BUSINESS WIRE)--With September being National Preparedness Month, Pacific Gas and Electric Company (PG&E) and Southern California Edison (SCE) announce a joint agreement with the 211 California Network, which will provide emergency preparedness support for customers during Public Safety Power Shutoffs (PSPS).
211 will serve as the network’s operator, directly connecting customers to local community-based organizations who provide assistance with transportation and shelter needs, portable backup power, home meal delivery, food replacement, bill assistance programs, and support for those who may have physical, intellectual or developmental disabilities. The service will be available to customers 24 hours-per-day during PSPS events, which occur when power is shut off temporarily to avoid the risk of catastrophic wildfires.
Through the 211 California Network, customers of California’s two largest utility companies will have the ability to call or text 211 during PSPS events to facilitate connections with local resources. The new agreement with 211 includes outreach to Access and Functional Need (AFN) populations, including those with physical, developmental or intellectual disabilities, chronic conditions or injuries, limited English proficiency, older adults, children, pregnant women and low income, homeless and/or transportation disadvantaged individuals.
“It is our commitment to not only identify and connect with members of the AFN community who we serve, but to provide information to help them plan for emergency situations and to facilitate access to resources that can help them navigate through challenging situations,” said Marlene Santos, PG&E executive vice president and chief customer officer.
When not aiding during PSPS, 211 will focus on outreach to at-risk customers, including those living in high-fire-risk areas who are eligible for income-qualified assistance programs and rely on life-sustaining medical equipment. The focus during these periods will be to evaluate these customers’ resiliency plans, connect them with existing programs that can help them prepare for outages and to assist them in completing applications for these programs.
“The 211 California Network is a powerful resource that considers all of our diverse customers’ unique needs,” said Jill Anderson, senior vice president of customer service for SCE. “For customers at risk of PSPS, particularly those with access and functional needs, 211 offers a toolkit that considers each customer holistically and helps to tailor a resiliency plan that works for them.”
The agreement with 211 will provide opportunities for customers throughout the state to have enhanced information awareness and resource availability. By expanding the 211 California Network, some community resources that were previously available in only select areas may now be accessible to those who they would have otherwise been unavailable to.
“The 211 California Network is excited to work with the utility companies to provide additional support to their customers,” said Interface 211 Community Information Officer, Kelly Brown. “This partnership with SCE and PG&E will expand our ability to connect customers to critical resources before, during, and after Public Safety Power Shutoffs.”
To get connected and get help through the free, confidential referral hotline, dial 2-1-1. Customers can also log onto 211.org for more information. 211 is available 24/7 in more than 300 languages.
About 211
With 24-7 availability from trained specialists and a dedicated resource management team, 211 is a powerful resource for households. The 211 California Network is comprised of 13 contact centers throughout the state working together to connect the community to all available health and social service resources.
About Southern California Edison
An Edison International (NYSE: EIX) company, Southern California Edison is one of the nation’s largest electric utilities, serving a population of approximately 15 million via 5 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
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Marissa Badenhorst Named Vice President, Health, Safety and Environment
Dave Payne to Retire After 39 Years of Service
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today named Marissa Badenhorst vice president of Health, Safety and Environment, effective January 1, 2022. Badenhorst, 45, succeeds James David (Dave) Payne, who will be retiring April 1, 2022, after 39 years of distinguished service.
Badenhorst, currently general manager of Enterprise Process Safety, will be responsible for leading Chevron’s Health, Safety, and Environment function, including risk management and emergency response. She will report to Eimear Bonner, Chevron vice president, chief technology officer.
“During Marissa’s time leading Enterprise Process Safety, we’ve seen record high safety performance at Chevron,” said Bonner. “She is a proven leader with a breadth and depth of experience in operations, maintenance and reliability as well as technical and process safety management across global organizations that will advance our aim to lead our industry in health, safety and environmental performance.”
Badenhorst joined Chevron over 20 years ago in Cape Town, South Africa, and has since held leadership positions of increased responsibility at the Cape Town refinery, Pascagoula refinery and in Perth, Australia, where she provided facilities engineering support to the Gorgon and Wheatstone assets. She became general manager of Enterprise Process Safety in October 2020. Badenhorst holds a Chemical Engineering degree from the University of Pretoria.
“I’m truly grateful to Dave for his decades of leadership and his commitment to the health and welfare of all his Chevron colleagues,” Bonner added. “Dave’s career spans the globe and he leaves a legacy that puts the safety of our people and our operations at the core of how we work. Most recently, Dave has led the company’s response to the pandemic and the tireless efforts of his team deserve the highest recognition.”
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower carbon future, we are focused on lowering the carbon intensity in our operations and growing our lower carbon businesses. More information about Chevron is available at www.chevron.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s energy transition plans and operations that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; development of large carbon capture and offsets markets; public health crises, such as pandemics and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company's 2020 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Braden Reddall
+1 925-842-2209
Construction activities underway with initial in-service by fall of 2022
HOUSTON--(BUSINESS WIRE)--Kinetrex Energy, a Kinder Morgan, Inc. (NYSE: KMI) company and Wabash Valley Power Alliance (WVPA) today announced they have started construction activities for three previously announced renewable natural gas (RNG) facilities in Indiana. The three sites are located at the Twin Bridges Landfill in Danville, the Prairie View Landfill in Wyatt and the Liberty Landfill in Monticello. Upon completion, they are expected to produce a total of 3.5 billion cubic feet of RNG each year. Commercial operations are expected to begin in the fall of 2022, pending required permits and certifications.
Kinetrex Energy expects to invest $146 million to construct the RNG facilities to process gas purchased from WVPA. Waste Management, which owns the landfills, will operate the new RNG facilities. WVPA will continue to have generation facilities at the sites that will remain in operation. The new RNG facilities are designed to capture methane produced from landfills and convert that methane into pipeline-quality natural gas. This capture process reduces or eliminates greenhouse gas (GHG) emissions at the landfill and provides low-cost, efficient renewable energy. The RNG generated from the plants will be sold pursuant to long-term contracts to Kinetrex Energy’s compressed renewable natural gas (CRNG) and liquefied renewable natural gas (LRNG) vehicle transportation customers located throughout the eastern half of the United States.
“We are pleased to join WVPA, which has a long history in the landfill gas space, on this initiative to bring additional renewable fuels and low-carbon solutions to the marketplace,” said KMI President of Renewable Natural Gas Aaron Johnson. “We expect these facilities will produce renewable fuels that will ultimately replace approximately 28 million gallons of traditional diesel each year, lowering GHG emissions by about 280,000 tons. That’s like taking 60,000 vehicles off the road annually – a significant contribution toward reducing methane emissions.”
“The opportunity to work with Kinetrex has truly created a win-win for our membership,” said Wabash Valley Power Alliance Executive Vice President of Engineering and Operations Brian Fitzgerald. “As a result of this project, Kinetrex becomes a cooperative member and Wabash Valley Power Alliance’s involvement affords the production of alternative energy resources that will benefit our environment. As our industry continues the transition to a sustainable future, enabling the creation of renewable energy is a significant point of pride for our organization.” Wabash Valley Power Alliance first began energy production from landfill gas in 2002 and will continue to operate at six additional sites as a component of their diversified energy portfolio.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines and 144 terminals. Our pipelines transport natural gas, renewable fuels, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.
Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. Generally the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning the benefits of RNG; and the anticipated cost, timing and benefits of the RNG facilities. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on KMI’s operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include changes in the supply of and demand for renewable natural gas; commodity prices, particularly the prices for Renewable Identification Numbers under the U.S. Environmental Protection Agency’s Renewable Fuel Standard Program; counterparty financial risk; and the other risks and uncertainties described in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2020 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on KMI’s website at ir.kindermorgan.com. Forward-looking statements speak only as of the date they were made, and except to the extent required by law, KMI undertakes no obligation to update any forward-looking statement because of new information, future events or other factors. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements.
About Wabash Valley Power Alliance
Wabash Valley Power Alliance is a not-for-profit electric generation and transmission (G&T) cooperative based in Indianapolis. The G&T provides wholesale electricity to 23 retail electric distribution cooperatives in Indiana, Illinois, and Missouri. Collectively, these cooperatives supply electricity to more than 321,000 homes, schools, farms, and businesses. For more information, please visit www.wvpa.com.
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DUBLIN--(BUSINESS WIRE)--The "Technology Advancements Enabling Prosumerism in Energy Sector" report has been added to ResearchAndMarkets.com's offering.
Smart grid modernizations have led to the development of remunerative programs that encourage consumers to optimize their energy consumption in response to penalties, pricing signals, or curtailment requests. The potential flexibility being infused by the programs have rendered consumers' energy load and onsite generation capabilities to be considered as a critical factors and resource for grid balancing.
Smart grids have infused a paradigm shift toward active energy distribution and have significantly transformed the role of a consumer alongside communities, enabling "passive" users to act as "active" participants - both as consumers and producers. The smartest and viable part of the grid, however, is not the technological integration, but rather the human tendencies: the "prosumer" or "prosumerism."
A prosumer is a consecutive power producer and consumer. Consumers transform into potential prosumers through the integration of an energy generation unit including a solar panel within their premises. Increasing number of institutions, households, and businesses setting up renewable energy systems has led to the structuring of a socio-technical distribution system.
The research study highlights the key characteristics of prosumers in terms of consumer needs, goals, preferences, alongside the technical demands of a durable and sustainable power supply mechanism.
The study covers the following:
Key Topics Covered:
1. Strategic Imperatives
1.1 Why Is It Increasingly Difficult to Grow? The Strategic Imperative 8: Factors Creating Pressure on Growth
1.2 The Strategic Imperative 8
1.3 The Impact of the Top Three Strategic Imperatives on The Energy Prosumerism Industry
1.4 Growth Opportunities Fuel the Growth Pipeline Engine
1.5 Research Process & Methodology
1.5 Research Process and Methodology (continued)
2. Executive Summary
2.1 Energy Prosumerism: A State of Consecutive Energy Consumption & Production
2.2 Energy Prosumerism: Four Technological Areas to Fuel Global Adoption
2.2.1 Energy Management Network for Effective Consumption Profiles
2.2.2 Onsite Generation for Building a Green and Reliable Microgrid
2.2.3 Energy Storage for Super-charging the Microgrid
2.3 Key Roles and Features of Smart Grid Components Within Prosumerism
2.4 Evolution from Energy Consumer to Prosumer Infuses Financial, Environmental, Societal, and Operational Benefits
3. Companies to Action
3.1 Schneider Electric
3.1 EMS & EcoStruxure ADMS
3.2 Wuxi Suntech Power Co. Ltd.
3.2 Roof-top, BIPV, and Bifacial Solar Modules
3.3 Bloomenergy
3.3 Energy Server Platform
3.4 METRON
3.4 METRON-EVA
3.5 Leapfrog Power Inc.
3.5 Virtual Power Plant Solution
4. IP Landscape
4.1 APAC Has the Majority of Patent Publications
4.2 State Grid, Siemens, and ABB to Drive Patent Activities Worldwide
5. Growth Opportunity Universe: Energy Prosumerism
5.1 Growth Opportunity 1: R&D Investment for Technological Innovation, 2020
5.2 Growth Opportunity 2: Technology Convergence for Grid Resilience, 2020
5.3 Growth Opportunity 3: Technology Sourcing for System's Integration, 2020
6. Key Contacts
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/9k4j08
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Dual Drives Reduced CO2 emissions in 2020 by more than 630,000 tons
DALLAS--(BUSINESS WIRE)--Energy Transfer’s Dual Drive Technologies yesterday received the Environmental Excellence Award from the GPA Midstream Association. Dual Drive was selected for the Environmental Excellence Award from among the affiliated GPSA Midstream Suppliers. The award for innovative environmental solutions was presented at the GPA Midstream convention in San Antonio.
Energy Transfer’s Dual Drive natural gas compression system features patented technology that involves both a natural gas engine and an electric motor allowing each individual Dual Drive compression unit to switch between drivers at any time to actively manage both greenhouse gas emissions and the use of the electrical grid. The first Dual Drive was installed in East Texas in 2000, and since then has grown into a fleet of approximately 450,000 horsepower in multiple services from field gathering, transmission and cryogenic plant installations.
“We are so pleased to be recognized by our industry peers for the benefits of this technology, which can be significant in reducing Scope 1 CO2 emissions,” said David Coker, Vice President, Power Solutions for Energy Transfer. “Across our system of Dual Drives, we were able to reduce CO2 emissions by more than 630,000 tons in 2020 alone.”
Dual Drive was selected by GPA’s Midstream Environmental Committee for this innovative technology used by Energy Transfer at gas processing plants in Texas’ Permian Basin. GPSA's award category focuses on innovative environmental solutions with measurable results and repeatable processes.
The 2021 Environmental Excellence Award adds to Dual Drive’s list of accolades. Dual Drive Technologies received the 2012 Environmental Protection Agency’s (EPA) award for Best Available Control Technology (BACT) for emission reductions in the gas compression industry. And, in 2009, Dual Drive received the Innovative Technologies Award from the Texas Commission on Environmental Quality (TCEQ). This award also focused on emission reductions in the industry.
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with a strategic footprint in all of the major domestic production basins. ET is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. ET also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer website at energytransfer.com.
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SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, October 29, 2021, at 11:00 a.m. ET (8:00 a.m. PT).
Conference Call Information:
Date: Friday, October 29, 2021
Time: 11:00 a.m. ET / 8:00 a.m. PT
Dial-in # (Listen-only mode): 929-477-0308 or 800-289-0449
Conference ID #: 8912677
Speakers:
Mark Nelson – Executive Vice President, Downstream & Chemicals
Pierre Breber – Vice President and Chief Financial Officer
Roderick Green – General Manager, Investor Relations
To access the live webcast, visit www.chevron.com.
The meeting replay will also be available on the company website under the “Investors” section.
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower carbon future, we are focused on lowering the carbon intensity in our operations and growing our lower carbon businesses. More information about Chevron is available at www.chevron.com.
Sean Comey +1 (925) 842-5509
TULSA, Okla.--(BUSINESS WIRE)--Helmerich & Payne, Inc. (NYSE:HP) (“H&P” or the “Company”) announced today that it has successfully completed its previously announced private offering (the “Offering”) of $550 million aggregate principal amount of 2.900% senior notes due 2031 (the “Notes”).
President and CEO John Lindsay commented, “This offering exemplifies our ability to plan for the long term and to strategically eliminate certain potential risks we may encounter in the future. We are taking advantage of the Company’s robust financial profile and the historically low interest rate environment to significantly extend our debt maturity at a lower rate. Due to our strong balance sheet, we are able to capitalize on the current market opportunity to lock in low cost capital that will allow us to continue to grow our domestic market share through expansion of new commercial models and digital technology solutions. Concurrently, we will continue our efforts to expand our international business while using our core competencies and resources to develop additional capabilities and opportunities.”
The Company intends to use the net proceeds from the Offering, plus cash on hand, to redeem and retire all of the Company’s outstanding 4.65% Senior Notes due 2025 (the “2025 Notes”). As of the date of this press release, $487.1 million aggregate principal amount of the 2025 Notes are outstanding.
This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Offering is being made solely pursuant to a private offering circular and only to such persons and in such jurisdictions as are permitted under applicable law.
About Helmerich & Payne, Inc.
Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies.
Forward-Looking Statements
This release includes “forward-looking statements” within the meaning of the Securities Act and the Securities Exchange Act of 1934, as amended, and such statements are based on current expectations and assumptions that are subject to risks and uncertainties. All statements other than statements of historical facts included in this release, including, without limitation, statements regarding the intended use of proceeds or other aspects of the Offering and the Notes, and the redemption of the 2025 Notes, are forward-looking statements. For information regarding risks and uncertainties associated with the Company’s business, please refer to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the Securities and Exchange Commission, including but not limited to its annual report on Form 10‑K, quarterly reports on Form 10‑Q and current reports on Form 8-K. As a result of these factors, the Company’s actual results may differ materially from those indicated or implied by such forward-looking statements. We undertake no duty to update or revise our forward-looking statements based on changes in internal estimates, expectations or otherwise, except as required by law.
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918-588-5190
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