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Reference is made to the stock exchange release dated 19 June 2018 regarding Akastor's agreement to transfer 50% of its shares in AKOFS Offshore to MITSUI & CO., LTD, and Mitsui O.S.K. Lines, Ltd., who each will own 25% of the shares. All closing conditions have been fulfilled. The closing of the transaction took place on 26 September 2018 according to the terms and conditions described in the release.
As previously announced the price for the 50% shareholding is USD 142.5 million, plus interest from locked box date. The transaction will be booked in the third quarter.
For further information, please contact:
Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.
WALTHAM, Mass., Sept. 26, 2018 (GLOBE NEWSWIRE) -- Tecogen Inc. (NASDAQ: TGEN), a clean energy company providing ultra-efficient, clean, natural gas powered on-site power, heating and cooling equipment, is pleased to announce the sale of 3 InVerde e+ cogeneration units as a microgrid enabled trigeneration system providing heating, cooling, and power to a new school building in a Massachusetts’ town to be opened in late 2020. Situated on the Atlantic coast, the community is particularly susceptible to New England weather emergencies. The Tecogen system was selected due to the on-board microgrid controls which enable transition from the utility during grid outages and reconnection once the utility is back online, allowing the school to mitigate the need for additional backup generators. The system will qualify for incentives from the Mass Save program, as well as generate AEC credits during system operation.
The Tecogen system was selected because it met all the specifications outlined by the architecture and engineering design teams at the most competitive price. Tecogen’s unique ability to rapid start (sub 10 seconds) allows it to serve a double duty continuous power and stand-by power, thus eliminating the need for standard backup generation, which keeps overall construction costs down. By including absorption chilling, the architect and engineers were able to eliminate an electric chiller, further reducing the installation costs.
“The InVerde e+ is ideally suited for school systems where energy savings and resiliency are highly valued,” said Benjamin Locke, Tecogen CEO. “Oftentimes a school becomes a place of refuge during weather related events or other utility interruptions. The Tecogen system allows the school to baseload emergency generation capacity all the while producing significant resiliency from rising energy costs. We are grateful to the team of architects and engineers that selected Tecogen for this project.”
The system will be installed by a large established Massachusetts construction company involved with the overall school project. Tecogen will provide the entire trigeneration package including InVerde CHP units, engineered integration modules, absorption chillers, and cooling towers. Upon project completion, Tecogen will provide service for the system under a long-term service agreement from our factory service center in Waltham, MA.
In business for over 35 years, Tecogen has shipped more than 3,000 units, supported by an established network of engineering, sales, and service personnel across the United States. For more information, please visit www.tecogen.com or contact us for a free Site Assessment.
Tecogen, InVerde e+, Ilios, Tecochill, and Ultera are registered or pending trademarks of Tecogen Inc.
Forward Looking Statements
In addition to those factors described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under “Risk Factors”, among the factors that could cause actual results to differ materially from past and projected future results are the following: fluctuations in demand for our products and services, competing technological developments, issues relating to research and development, the availability of incentives, rebates, and tax benefits relating to our products and services, changes in the regulatory environment relating to our products and services, integration of acquired business operations, and the ability to obtain financing on favorable terms to fund existing operations and anticipated growth.
Tecogen Media & Investor Relations Contact Information:
John N. Hatsopoulos
HOUSTON, Sept. 26, 2018 (GLOBE NEWSWIRE) -- Hi-Crush Partners LP (NYSE: HCLP), or Hi-Crush, today announced that it has temporarily idled dry plant operations at its Whitehall facility. The facility’s wet plant remains operational, and Hi-Crush continues to sell inventory from on-site storage to meet ongoing Northern White customer demand. Wet and dry plants remain operational at Hi-Crush’s other Wisconsin mines, including Wyeville, Augusta and Blair.
“Our strategic decision to temporarily idle Whitehall’s dry plant was driven by recent, temporary softness in completions activity and frac sand demand,” said Laura C. Fulton, Chief Financial Officer of Hi-Crush. “This reduced level of expected activity is reflected in our updated guidance for sales volumes of 2.8 million to 3.0 million tons for the third quarter we previously communicated. Our Kermit facility continues to run above its nameplate capacity and we anticipate strong demand for Northern White and our in-basin Permian sand in 2019 and beyond.”
“The flexibility of our operations position us to respond timely and efficiently to evolving industry dynamics, supporting our ability to best align operations with customer demand,” said Robert E. Rasmus, Chief Executive Officer of Hi-Crush. “Hi-Crush is committed to providing the supply surety that our customers require, while we work with all interested parties to minimize impacts and improve cost competitiveness through the optimization of our production operations. Despite temporary market dislocations, we continue to expect strong demand for Northern White frac sand and are continuing with the expansion of rail capacity at Whitehall, as well as our customer-driven expansion of our Wyeville plant and the construction of the second Kermit facility.”
Hi-Crush is a premier provider of proppant and logistics solutions to the North American energy industry. Our portfolio of purpose-built production facilities is capable of producing 13.4 million tons per year of high-quality monocrystalline sand, a specialized mineral used as a proppant during the well completion process, necessary to facilitate the recovery of hydrocarbons from oil and natural gas wells. Our Wisconsin production facilities' direct access to major U.S. railroads enhances our delivery capabilities into consuming basins, while our strategically located owned and operated in-basin terminals as well as our Texas production facility positions us within close proximity to significant activity in all major oil and gas basins for advantageous truck transportation. Our integrated distribution system, enhanced by our innovative PropStream logistics solution, efficiently delivers proppant the "last mile" into the blender, providing customers surety of supply from mine to wellsite. For more information, visit www.hicrush.com.
Some of the information in this news release may contain forward-looking statements. Forward-looking statements give our current expectations, and contain projections of results of operations or of financial condition, or forecasts of future events. Words such as "may," "assume," "forecast," "position," "predict," "strategy," "expect," "intend," "plan," "estimate," "anticipate," "could," "believe," "project," "budget," "potential," or "continue," and similar expressions are used to identify forward-looking statements. They can be affected by assumptions used or by known or unknown risks or uncertainties. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Hi-Crush’s reports filed with the Securities and Exchange Commission (the "SEC"), including those described under 1A of Hi-Crush’s Form 10-K for the year ended December 31, 2017 and any subsequently filed 10-Q. Actual results may vary materially. You are cautioned not to place undue reliance on any forward-looking statements. You should also understand that it is not possible to predict or identify all such factors and should not consider the risk factors in our reports filed with the SEC or the following list to be a complete statement of all potential risks and uncertainties. Factors that could cause our actual results to differ materially from the results contemplated by such forward looking statements include: the volume of frac sand we are able to sell; the price at which we are able to sell frac sand; the outcome of any pending litigation; changes in the price and availability of natural gas or electricity; changes in prevailing economic conditions; and difficulty collecting receivables. All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. Hi-Crush’s forward-looking statements speak only as of the date made and Hi-Crush undertakes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Monaco, Sept. 26, 2018 (GLOBE NEWSWIRE) -- GasLog Partners LP (NYSE:GLOP) (“GasLog Partners”, the “Partnership” or “we”) today announced an agreement to sell 2,250,000 common units to funds managed by Tortoise Capital Advisors, L.L.C. (“Tortoise”) for gross proceeds of $53.1 million. The common units are being sold at a price of $23.60 per common unit through the Partnership’s at-the-market common equity offering programme.
The Partnership plans to use the net proceeds from the sale for general partnership purposes, which may include future acquisitions, debt repayment, capital expenditures and additions to working capital. We currently expect that this will include future acquisitions from GasLog Ltd.
Andy Orekar, Chief Executive Officer of GasLog Partners, stated: “I am very pleased to welcome Tortoise, a leading energy infrastructure investor, as a significant unitholder in the Partnership. This equity issuance and execution format demonstrates our access to diverse and competitive capital sources, and fulfills our expected equity requirements for growth in 2018.”
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on October 10, 2017. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The offering was made only by means of a prospectus. A copy of the prospectus relating to the offering may be obtained on the “Investor Relations” section of our website at www.gaslogmlp.com. Requests for such information should be made to us at the following address: GasLog Partners LP, Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco, Attention: Nicola Lloyd, General Counsel.
About GasLog Partners
Hässleholm, Sweden, September 26, 2018
Eolus has signed credit facilities with Swedbank and secured financing for the next four years.
The credit agreement that has been signed with Swedbank comprises liquidity and construction facilities totaling SEK 1 050 million with a tenor of four years. The agreement secures financing for Eolus expansion in the coming period, both regarding financing of ongoing and upcoming projects under construction, as well as ensuring good liquidity in the daily operations.
For further information contact:
Per Witalisson, CEO, +46 10 199 88 02
The information in this press release is disclosed pursuant to the EU Market Abuse Regulation. The information was released for public disclosure through the agency of head of communication Johan Hammarqvist on September 26, 2018, at 1 PM CET.
For more information about Eolus, please visit www.eolusvind.com
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