新型逆变器可显著简化可再生能源发电设备的连接和运行，并实现混合电池系统并网。初步估算表明， 该设备可将扰动期间运行参数的波动幅度降低近一半。 据俄罗斯卫星通讯社11月12日报道，俄托木斯克理工大学研究人员研发出一种新设备，有望使电网可靠 性提高近一倍。这种新开发的三相逆变器，配备现代化控制系统，使可再生能源参与电网调节，通过模 拟传统同步电机的运行，实现宽范围的电压调节。 研究人员介绍，最基本的逆变器可以调节电压振幅和频率，从而调节功率和传输角，进而决定各种突发 事件后运行参数波动的幅度和持续时间。如果能控制传输角，那么供电质量控制也会得到改善。然而， 只有将所有这些参数联系起来，才能对外部扰动做出正确且适当的响应。否则，随意改变这些参数反而 会造成更大的损失。新开发的这套精密控制设备恰好能将各个参数关联起来并进行控制，从而对电力系 统的瞬态过程产生积极且可预测的影响。 专家认为，这些设备运用在远东或北极等地的孤立电力系统中效果将更为显著，因为这些地区的发电量 和用电量都要低很多，而容量相对较小的储能系统与正在开发的转换器相结合，将对供电质量产生更大 影响。（稿件来源：俄罗斯卫星通讯社 编辑整理：科技日报驻俄 ...

Financial Data and Key Metrics Changes - In Q3 2025, Atlas generated $259.6 million in revenue and $40.2 million in adjusted EBITDA, resulting in a 15% EBITDA margin [16][4] - Adjusted free cash flow was $22 million, representing 8% of revenue [18] - The net loss for the quarter was $23.7 million, with a net loss per share of $0.19 [18] Business Line Data and Key Metrics Changes - Proppant sales totaled $106.8 million, with volumes at 5.25 million tons, slightly lower than the previous quarter [17] - Logistics contributed $135.7 million to revenue, with a modest decline in tonnage [17] - Power rentals added $17.1 million to revenue, indicating growth in this segment [17] Market Data and Key Metrics Changes - The Permian frack crew count decreased from over 90 in 2024 to around 80 entering Q3 2025, reflecting a slowdown in completions activity [7] - WTI prices were around $60, providing little incentive for operators to increase activity [7] Company Strategy and Development Direction - The company aims to maximize efficiencies with a target of $20 million in annual cost savings [19] - Atlas is focusing on gaining market share during the downturn by leveraging its low-cost production and extensive logistics network [8] - The acquisition of Moser Energy Systems is seen as a strategic move to layer a stable power generation platform atop its oilfield services foundation [21] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding a broad recovery in early 2026 due to ongoing capital spending slowdowns by customers [7] - The company anticipates a decline in fourth-quarter volumes to approximately 4.8 million tons, attributed to seasonality and customer budget constraints [16] - Management remains optimistic about the power business, expecting significant growth and stable cash flows from long-term contracts [11][12] Other Important Information - The company has temporarily suspended its dividend to prioritize capital for growth opportunities in the power market [13][14] - The logistics business is facing margin pressure due to a slowdown in completions activity, with trucking rates dropping below COVID-era levels [7] Q&A Session Summary Question: Can you elaborate on the updated power strategy and how Mosier fits into it? - Management indicated that the power strategy has advanced, focusing on establishing a platform with deep expertise and leveraging the Mosier acquisition for engineering and project execution [26] Question: Do you have contracts to justify the new capacity order? - Management confirmed that they would not have ordered the equipment without having line of sight on contracts, with ongoing negotiations for financing [30][31] Question: What caused the higher operating costs this quarter? - The increase in costs was primarily due to inefficiencies related to tailings management at the Kermit facility, which have since been addressed [40][41] Question: What is the outlook for capital spending in 2026? - Capital spending is expected to decrease from 2025 levels, focusing on maintenance rather than growth investments due to current market conditions [44] Question: How will the 240 megawatts of new capacity be deployed? - The new capacity is expected to be split across multiple projects, likely not in the oil and gas sector, but rather in C&I or data centers [78] Question: What is the potential market opportunity for the 2 gigawatts mentioned? - The opportunity set includes a mix of oil and gas applications, C&I opportunities, and data centers, with a significant portion expected to be long-term contracts [62]

Financial Data and Key Metrics Changes - Total revenues for Q2 2025 were $547.5 million, down from $593.4 million in Q2 2024, primarily due to lower coal sales prices and transportation revenues, partially offset by higher coal sales volumes [4] - Average coal sales price per ton decreased by 11.3% year-over-year to $57.92, driven by the roll-off of higher-priced legacy contracts and a higher proportion of Illinois Basin tons [4] - Net income for Q2 2025 was $59.4 million, compared to $100.2 million in Q2 2024, reflecting variances in revenues and higher depreciation expenses [9] - Adjusted EBITDA for the quarter was $161.9 million, down 10.8% year-over-year but up 1.2% sequentially [10] Business Line Data and Key Metrics Changes - Coal production in Q2 2025 was 8.1 million tons, a 3.9% decrease compared to Q2 2024, while coal sales volumes increased by 6.8% to 8.4 million tons [4] - In the Illinois Basin, coal sales volumes increased by 15.2% year-over-year, driven by record shipments from Riverview and Hamilton mines [5] - Coal sales volumes in Appalachia decreased by 16.8% year-over-year due to challenging mining conditions at Tunnel Ridge [5][6] - Royalty segment revenues were $53.1 million, up 0.2% year-over-year, with oil and gas royalty volumes increasing by 7.7% [8] Market Data and Key Metrics Changes - Eastern utility inventories were 18% below the prior year, indicating a tightening market [18] - Year-to-date electricity generation in key Eastern regions was up over 18% compared to last year, driven by warmer temperatures and increased coal generation [18] - The company is seeing multiple domestic customer solicitations for long-term supply contracts, indicating strong demand for coal [11][12] Company Strategy and Development Direction - The company is optimistic about the long-term outlook due to supportive regulatory actions and strong domestic coal market fundamentals [18][21] - The company is increasing its volume guidance for the Illinois Basin to 25 to 25.75 million tons based on solid domestic demand [12] - The company is exploring opportunities in energy infrastructure related to data centers and evaluating investments in coal power plants [37] Management's Comments on Operating Environment and Future Outlook - Management noted that the current regulatory environment is the most favorable for coal in decades, with actions taken to support coal-fired power plants [21][22] - The company expects second-half results from Appalachia to improve following the completion of a longwall move at Tunnel Ridge [7] - Management expressed cautious optimism about growth opportunities in sales volumes next year, despite potential lower average coal sales prices [19] Other Important Information - The company generated free cash flow of $79 million after investing $65.3 million in coal operations [11] - The quarterly distribution rate was adjusted to $0.60 per unit, reflecting a strategic decision to strengthen the balance sheet and provide flexibility for growth opportunities [22][33] Q&A Session Summary Question: Can you provide more details on the $25 million investment for the acquisition of the Gavin Power plant? - The investment allows participation as an LP investor in a fund set up for the acquisition, which is expected to be accretive upon closing [28] Question: Can you clarify the board's decision to lower the distribution despite a strong outlook? - The adjustment aligns with a more sustainable operating margin and allows for additional cash flow to pursue growth opportunities [32][33] Question: What are the potential growth opportunities being considered? - The company is looking at investments in minerals, energy infrastructure for data centers, and potential acquisitions of coal plants [36][37] Question: How do you see the impact of the recent trade deal on guidance? - There is potential for increased manufacturing demand in the Eastern U.S., which could benefit coal demand [62] Question: How do you anticipate demand growth pacing? - Demand is expected to stabilize as utilities maintain inventory levels, correlating with coal purchases [67][70] Question: Has the decline in Chinese demand for seaborne coal impacted U.S. pricing? - Domestic pricing remains prioritized, but there are signs of improved pricing for exports, which could increase next year [75] Question: Will there be continued investments in royalty assets? - The company plans to invest in its royalty segment, primarily targeting the Permian and Delaware Basins [77]

Group 1 - The U.S. Environmental Protection Agency (EPA) has released guidance on the adoption of artificial intelligence (AI) technologies to ensure the reliability of the electric grid [1]