Vitol | Jotup

Avangrid and Vitol Reach Landmark Transfer Agreement for $100 Million of Production Tax Credits

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水曜日, 9月 27, 2023

Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, and Vitol Inc. today announced that they have reached a landmark transfer agreement for an estimated $100 million of 2023 production tax credits (PTCs) from eight operating wind farms, totaling 1,134 megawatts of generating capacity.

Key Points:

Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, and Vitol Inc. today announced that they have reached a landmark transfer agreement for an estimated $100 million of 2023 production tax credits (PTCs) from eight operating wind farms, totaling 1,134 megawatts of generating capacity.
“It has created a tax credit transfer process that is streamlined and removes the bottleneck that existed with the tax equity investment structure.
Under the IRA, renewable energy owners like Avangrid who qualify for tax credits but are not able to use them immediately can transfer credits to a third-party investor, such as Vitol.
The 2023 PTCs included in the transfer agreement with Vitol are from eight of Avangrid’s wind farms:

Braskem to purchase plastic-waste-derived feedstock from Vitol SA, produced by WPU – Waste Plastic Upcycling A/S in Denmark

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火曜日, 9月 12, 2023

Other Energy, Oil, Gas, Sustainability, Environment, Energy, Recycling, Chemicals, Plastics, Manufacturing, Education, WPU, Chemical substance, Chemical industry, Humble Oil, Vitol, Braskem

Braskem and Vitol S.A. have announced an agreement for circular feedstock derived from plastic waste.

Key Points:

Braskem and Vitol S.A. have announced an agreement for circular feedstock derived from plastic waste.
Under the agreement, Vitol will start to supply Braskem Netherlands B.V. with pyrolysis oil produced in the chemical recycling process at the facilities of WPU – Waste Plastic Upcycling A/S, in Denmark.
It enables plastic waste that is unfit for mechanical recycling to be recovered and turned into valuable raw materials for the chemical industry, an alternative to fossil fuel-based feedstock.
The initiative has a significant impact on the company’s growth strategy and the achievement of plastic waste reduction targets.

AM Best Affirms Credit Ratings of Rembrandt Insurance Company, Ltd.

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金曜日, 9月 1, 2023

Consulting, Professional Services, Insurance, Finance, AM Best, S/V Rembrandt van Rĳn, ALL, Risk management, Credit, Rembrandt, AM, Bermuda, News, Vitol

For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive .

Key Points:

For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive .
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

Zefiro Methane Corp. Joins Gas & Oil Association of West Virginia

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木曜日, 7月 27, 2023

Private sector, METHANE, Goldman, Infrastructure Investment and Jobs Act, Noble Group, Carbon, Derivative, Movement, Natural Resources, Gas, Acquisition, Investment, GO, Methane, Government, Corporate development, Renewable energy, Vitol

VANCOUVER, British Columbia, July 27, 2023 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (the “Company”, “Zefiro”, or “ZEFI”) which works to reduce methane emissions by plugging orphaned oil and gas wells across the U.S., is pleased to announce that it has been granted membership in the Gas & Oil Association of West Virginia (“GO-WV”).

Key Points:

VANCOUVER, British Columbia, July 27, 2023 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (the “Company”, “Zefiro”, or “ZEFI”) which works to reduce methane emissions by plugging orphaned oil and gas wells across the U.S., is pleased to announce that it has been granted membership in the Gas & Oil Association of West Virginia (“GO-WV”).
This announcement also comes after a series of investments by Zefiro to bolster its operational capacity throughout Appalachia, highlighted by its recent acquisition of a leading regional oil and gas well plugging operation.
According to the latest expert projections, there are more than 4,600 abandoned wells throughout West Virginia, which often leak methane gas that can be up to 84 times more hazardous than carbon dioxide emissions.
Mr. Frase also previously served as co-CEO of Noble Group, a commodity trading firm that sold its oil sector portfolio to Vitol in 2018 for $1.4 billion.

New wind farm program gives Pennsylvania, New Jersey, and Maryland residents choice and transparency among energy suppliers

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水曜日, 4月 12, 2023

PHILADELPHIA, April 12, 2023 /PRNewswire/ -- A new program with three Pennsylvania wind farms owned by subsidiaries of Vitol allows Inspire Clean Energy to give residents in three states a renewable energy choice that improves air quality, supports jobs, and strengthens the regional economy.

Key Points:

Inspire's four-year offtake from the three Western Pennsylvania wind farms – Twin Ridges Wind Farm, Patton Wind Farm, and Highland North Wind Park – is forecasted to generate approximately 201,000 MWh of clean, renewable energy in its first year and 535,000 MWh of clean energy through 2026.
"We're thrilled to expand this offering to New Jersey and Maryland residents who can also choose regional renewable energy to positively impact their respective communities."
Most renewable energy retailers give customers access to clean energy sources such as wind and solar through Renewable Energy Certificates (RECs).
"This new wind farm program is only the latest example of Inspire's continued effort to supply residents with clean, local energy sources," said Donner.

Bunge Announces Changes to Board of Directors

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水曜日, 3月 29, 2023

The Board intends to appoint Mark Zenuk, director, as non-executive chairperson, subject to his re-election to the Board at the AGM.

Key Points:

The Board intends to appoint Mark Zenuk, director, as non-executive chairperson, subject to his re-election to the Board at the AGM.
In addition, Bunge announced the Board intends to nominate Monica McGurk and David Fransen to the Company’s slate of director nominees during its 2023 AGM.
We have approved a number of key transactions, improved stakeholder engagement and increased the diversity of the Board.
We are also pleased to nominate Monica and David as directors and look forward to adding their expertise and perspectives to Bunge’s Board.

WPU to Broaden Research and Development Cooperation With Vitol

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水曜日, 2月 8, 2023

Recycling, Environment, Sustainability, Environmental Issues, Green Technology, Environmental Health, Climate Change, WPU, Incineration, Bremen Overseas Research and Development Association, High Capacity Color Barcode, Plastic, Research, Development, Multimedia, CO2, Lumber, Batch, Vitol

WPU – Waste Plastic Upcycling A/S has welcomed an initiative of Vitol to engage in negotiations of a deeper vertical research and development of the WPU proprietary technology.

Key Points:

WPU – Waste Plastic Upcycling A/S has welcomed an initiative of Vitol to engage in negotiations of a deeper vertical research and development of the WPU proprietary technology.
The aim of this research and development will be to further broaden the product palette offered by WPU and enrich the subsequent treatment by Vitol creating more valuable products.
View the full release here: https://www.businesswire.com/news/home/20230207005907/en/
Niels Stielund (WPU) and Tom Baker (Vitol) (Photo: Business Wire)
The Research and Development cooperation may include construction of an upcycling facility based on WPU proprietary technology but financed by Vitol.
Vitol believes that the WPU proprietary process technology will make a significant impact in the future plastic waste upcycling industry.”
Niels Stielund, Chairman of Waste Plastic Upcycling A/S comments: “The strength and power of the Vitol - WPU cooperation has once again demonstrated its value.

Bellevue Asset Management AG: Africa investments: Solid fundamentals contrast with low stock valuations

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火曜日, 11月 29, 2022

In Morocco, some companies in the consumers or healthcare complex were outright bullish, expecting double-digits earnings growth this year and beyond.

Key Points:

In Morocco, some companies in the consumers or healthcare complex were outright bullish, expecting double-digits earnings growth this year and beyond.
Despite all these issues, the bank grew its earnings by 11% every year between 2011 and 2021 in USD terms.
A low valuation, earnings resilience and attractive growth outlook are part of the recipe for a re-rating in African equities.
Bellevue Funds (Lux) SICAV is registered in the CNMV registry of foreign collective investment schemes distributed in Spain, under registration number 938.

VavaCars raises $37m in Series C to fuel its success in Türkiye

Retrieved on:

火曜日, 9月 20, 2022

Investment, Entrepreneurship, Petrol Ofisi, CEO, Ecosystem, Growth, Partnership, Vitol, USD

Since launch in April 2019 in Turkiye, where it operates in close partnership with the leading fuel retailer, Petrol Ofisi, VavaCars is Turkiye's leading reseller of used cars.

Key Points:

Since launch in April 2019 in Turkiye, where it operates in close partnership with the leading fuel retailer, Petrol Ofisi, VavaCars is Turkiye's leading reseller of used cars.
In the first half of 2022, VavaCars sold more than 20,000 cars and generated in excess of $500m in revenue.
VavaCars is the pioneer of fully online second-hand car sales in Trkiye.
VavaCars is proud to be a business that was born in Trkiye and has successfully brought over $100m in foreign direct investment to the country.

VavaCars raises $37m in Series C to fuel its success in Türkiye

Retrieved on:

火曜日, 9月 20, 2022

Investment, Entrepreneurship, Petrol Ofisi, CEO, Ecosystem, Growth, Partnership, Vitol, USD

Since launch in April 2019 in Turkiye, where it operates in close partnership with the leading fuel retailer, Petrol Ofisi, VavaCars is Turkiye's leading reseller of used cars.

Key Points:

Since launch in April 2019 in Turkiye, where it operates in close partnership with the leading fuel retailer, Petrol Ofisi, VavaCars is Turkiye's leading reseller of used cars.
In the first half of 2022, VavaCars sold more than 20,000 cars and generated in excess of $500m in revenue.
VavaCars is the pioneer of fully online second-hand car sales in Trkiye.
VavaCars is proud to be a business that was born in Trkiye and has successfully brought over $100m in foreign direct investment to the country.