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Baker Hughes Announces Dates for Second-quarter Earnings Release and Webcast
Globenewswire· 2025-06-13 11:00
Core Viewpoint - Baker Hughes will announce its second quarter results for the period ending June 30, 2025, on July 22, 2025, with a subsequent webcast to discuss these results on July 23, 2025 [1]. Company Information - Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers globally, leveraging over a century of experience and operating in more than 120 countries [3]. - The company focuses on innovative technologies and services aimed at making energy safer, cleaner, and more efficient for both people and the planet [3]. Webcast Access - Listeners can access the webcast by visiting the Baker Hughes investor relations website, with an archived version available post-webcast [2]. Contact Information - For investor relations inquiries, Chase Mulvehill can be contacted at +1 346-297-2561 or via email at investor.relations@bakerhughes.com [4]. - For media relations, Adrienne M. Lynch is available at +1 713-906-8407 or media.relations@bakerhughes.com [4].
Baker Hughes Receives Award from Equinor to Industrialize Offshore Plug & Abandonment Operations in Oseberg East Field
Globenewswire· 2025-06-11 11:00
Core Viewpoint - Baker Hughes has been awarded a contract to provide plug and abandonment (P&A) services for Equinor in the Oseberg East field, marking the beginning of a multi-year framework agreement aimed at enhancing operational efficiencies in well abandonment processes [1][6]. Group 1: Project Overview - The project will involve Baker Hughes' Mature Assets Solutions team leading the planning and execution of integrated P&A services across multiple wells in the North Sea [1][2]. - A P&A Center of Excellence will be established in Bergen and Stavanger to centralize project management and expertise, ensuring cost-effective and reliable solutions for well abandonment [3]. Group 2: Technological Innovations - Baker Hughes' P&A portfolio includes advanced technologies such as PRIME Powered Mechanical Applications, CICM (Casing Integrity & Cement Mapping), MASTODON™ casing retrieval system, and the Xtreme SJI mechanical slotting tool, which are designed to enhance efficiency and reduce operating costs [4]. Group 3: Strategic Importance - This agreement is significant as it allows Equinor to industrialize its P&A operations through end-to-end integration, thereby driving efficiencies in the well abandonment process [6].
Acceleware Announces Board Appointments
Globenewswire· 2025-06-03 23:05
Core Viewpoint - Acceleware Ltd. has appointed two experienced energy executives to its Board of Directors as part of a strategic plan to enhance its business and shareholder value, while two original board members have stepped down [1][2][4]. Group 1: Board Appointments - Peter Sametz has been appointed as Executive Chairman of the Board, and Merle Johnson has been appointed as a Director and Chair of the Audit Committee, effective June 3, 2025 [2][4]. - The appointments of Mr. Sametz and Mr. Johnson are intended to fill the vacancies left by the resignations of Mr. Bohdan Romaniuk and Dr. Peter Neweduk, who served over 19 years on the Board [2][3]. Group 2: Executive Backgrounds - Mr. Sametz has extensive experience in the energy sector, focusing on change management and corporate restructuring, and has been recognized for his leadership in innovation and environmental responsibility [4]. - Mr. Johnson was the CEO of Connacher Oil and Gas until his retirement in 2024 and has a background with EnCana and IMC Global, contributing to significant projects in the energy sector [5]. Group 3: Company Overview - Acceleware is an innovator in electromagnetic heating technology, providing scalable solutions aimed at decarbonizing industrial process heat applications while reducing costs [7]. - The company is developing a patented low-cost, low-carbon electromagnetic thermal production technology for heavy oil and is working on a pilot project to decarbonize potash ore drying [8].
ConnectM Provides Update to Stockholders on Buyout Group's Offer
GlobeNewswire News Room· 2025-06-02 16:30
Core Viewpoint - ConnectM Technology Solutions, Inc. has received a buyout offer from a group of longstanding stockholders, which has been paused due to recent delays in filing financial reports [2][3]. Group 1: Buyout Offer and Company Response - The Buyout Group, consisting of Optimax Solutions Inc., SriSid LLC, Arumilli LLC, and Win-Light Global Co Ltd, has decided to pause their buyout proposal in light of ConnectM's delays in filing its Form 10-K and Form 10-Q reports [2]. - The Buyout Group continues to support ConnectM and its management, emphasizing the importance of the company's four-month recovery plan aimed at regaining compliance and relisting on major stock exchanges like Nasdaq or NYSE [3]. Group 2: Company Strategy and Future Plans - ConnectM's Board of Directors and management are focused on implementing strategic actions to restore compliance and deliver long-term value to stockholders [4]. - The company plans to file its 2024 Annual Report and Q1 2025 Quarterly Reports in June 2025, which are expected to demonstrate strong performance across all operating segments [4]. Group 3: Company Overview - ConnectM is positioned as a high-growth technology company that powers the next generation of electrified equipment, mobility, and distributed energy, facilitating a transition to a modern energy economy [5]. - The company provides a proprietary Energy Intelligence Network platform to service providers and original equipment manufacturers, aiming to lower energy costs and reduce carbon emissions globally through technology, data, artificial intelligence, and behavioral economics [5].
Baker Hughes, Cactus Create Joint Venture for Surface Pressure Control Services
Globenewswire· 2025-06-02 12:40
Core Viewpoint - Baker Hughes has announced a joint venture with Cactus, Inc., where Baker Hughes will contribute its surface pressure control product line, with Cactus owning 65% and Baker Hughes retaining 35% [1][6]. Group 1: Joint Venture Details - The joint venture will operate independently from Cactus' existing Pressure Control business and will focus on maintaining leadership in the international market for surface wellhead and production tree systems [2]. - The transaction is expected to close in the second half of 2025, subject to customary conditions including regulatory approvals [4]. Group 2: Strategic Alignment - This joint venture aligns with Baker Hughes' strategy to enhance earnings durability and cash flow, allowing for capital reallocation towards higher-return opportunities [3]. - The CEO of Baker Hughes emphasized that this transaction is a significant step in optimizing the company's portfolio, focusing on core growth areas and driving higher returns for shareholders [4]. Group 3: Company Background - Baker Hughes is an energy technology company providing solutions to energy and industrial customers globally, with operations in over 120 countries [5].
Baker Hughes to Supply NovaLT™ Gas Turbines for Frontier Infrastructure's U.S. Data Center Project, Delivering 270 MW of Reliable Power
GlobeNewswire News Room· 2025-05-29 11:00
Core Insights - Baker Hughes has been awarded a contract by Frontier Infrastructure Holdings for 16 NovaLT™ gas turbines to provide up to 270 megawatts of power for data center projects in Wyoming and Texas [1][5] - This award is part of a broader collaboration aimed at accelerating carbon capture and storage solutions in the U.S., building on a previous agreement from March 2025 [2][5] - The NovaLT™ gas turbine technology offers a multi-fuel solution, capable of operating on natural gas, hydrogen blends, and 100% hydrogen, enhancing flexibility for customers [3] Company Overview - Baker Hughes is an energy technology company with a century of experience, operating in over 120 countries, focused on providing safer, cleaner, and more efficient energy solutions [4]
Baker Hughes to Supply NovaLT™ Gas Turbines for Frontier Infrastructure’s U.S. Data Center Project, Delivering 270 MW of Reliable Power
Globenewswire· 2025-05-29 11:00
Core Insights - Baker Hughes has received an award from Frontier Infrastructure Holdings for 16 NovaLT™ gas turbines to provide up to 270 megawatts of power for data center projects in Wyoming and Texas [1][5] - This order is part of a broader collaboration aimed at accelerating carbon capture and storage solutions in the U.S., building on a previous agreement from March 2025 [2][5] - The NovaLT™ gas turbine technology offers a multi-fuel solution, capable of operating on natural gas, hydrogen blends, and 100% hydrogen, enhancing flexibility for customers [3] Company Overview - Baker Hughes is an energy technology company with a century of experience, operating in over 120 countries, focusing on making energy safer, cleaner, and more efficient [4]
ConnectM Stockholder Update - Path Forward & Strategic Milestones
Prnewswire· 2025-05-13 18:34
Core Viewpoint - ConnectM Technology Solutions, Inc. remains committed to its growth strategy despite recent trading suspension on Nasdaq, emphasizing strong company fundamentals and operational momentum [2][4][5]. Group 1: Business Overview - ConnectM is positioned as a high-growth technology company at the forefront of the modern energy economy, focusing on optimizing energy usage through its Energy Intelligence Network and various subsidiaries in HVAC, distributed energy, and digital operations [4][8]. - The company aims to lower energy costs and reduce carbon emissions globally by leveraging technology, data, artificial intelligence, and behavioral economics [8]. Group 2: Trading Status - Following Nasdaq's suspension, ConnectM shares are now trading on the OTC Pink Market, with over 10 million shares traded in the last three days, indicating strong liquidity and shareholder engagement [5]. - The stock remains accessible through major brokers, including Fidelity, Charles Schwab, and E*TRADE [5]. Group 3: Growth and Milestones - The company has outlined a clear plan to regain compliance and visibility, including filing its 10-K and 10-Q reports, uplisting to OTCQB, and preparing for a potential relisting on Nasdaq or NYSE [6][10]. - Key objectives include achieving $2.5 million in stockholder equity, completing integrations of acquired companies, and maintaining sequential and year-over-year revenue growth [10]. Group 4: Communication and Accountability - The management team is committed to providing weekly updates on progress towards their objectives, emphasizing transparency and accountability to stakeholders [7].
ConnectM Provides Update from CEO
Prnewswire· 2025-05-10 00:39
Core Viewpoint - ConnectM Technology Solutions, Inc. is focused on regaining compliance and plans to re-list on Nasdaq, emphasizing that its fundamentals and growth prospects remain strong despite recent challenges [1][2]. Company Operations - The company has several appealing options for capital raising, both organic and inorganic, which management will evaluate in the best interest of stockholders [2]. - ConnectM has down-listed to the OTC Pink Open Market to provide immediate liquidity to stockholders, with trading available through major brokerage accounts [3]. Financial Reporting - The company is prioritizing the filing of its Annual Report on Form 10-K for the year ended December 31, 2024, followed by the Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 [4]. - The complexity of financial reports has increased significantly, with the team spending 10 times more hours compiling them since 2023, leading to delays [4]. Compliance and Uplisting Plans - Management is evaluating options to uplist from OTC Pink to a higher OTC exchange tier, which requires current reporting status and enhances credibility and investor confidence [5]. - In conjunction with the capital raise process, the company is considering an IPO or uplisting back to Nasdaq or NYSE as soon as possible [6]. Company Vision - ConnectM aims to power the next generation of electrified equipment and mobility, facilitating a transition to a modern energy economy while leveraging technology and data to lower energy costs and reduce carbon emissions globally [7][8].
ConnectM Issues Letter to Stockholders
Prnewswire· 2025-05-08 18:42
Core Viewpoint - ConnectM Technology Solutions, Inc. has faced a suspension of its stock trading on Nasdaq, but the company's fundamentals and growth prospects remain strong, with plans to regain compliance and uplist to a higher market tier [1][2][3]. Company Operations - The company has several appealing options for capital raising and growth, both organic and inorganic, which management will evaluate in the best interest of shareholders [2]. - Management has made substantial progress towards regaining compliance with Nasdaq listing requirements and has communicated this progress to Nasdaq as of May 7, 2025 [3]. Stock Trading Status - Currently, ConnectM is listed on the OTC Pink Market, and trading is available through certain brokerage accounts, including Charles Schwab, Fidelity, E*Trade, and Interactive Brokers [4]. - The company plans to uplist to the OTCQB Market as soon as possible and aims to return to either Nasdaq or NYSE, regardless of the outcome of their appeal [5]. Future Plans - The company is focused on filing its Annual Report on Form 10-K for the year ended December 31, 2024, followed by its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 [5]. - More details regarding the company's plans will be provided by May 9, 2025 [5]. Company Overview - ConnectM is positioned as a high-growth technology company that supports the transition to a modern energy economy through its proprietary Energy Intelligence Network platform, aimed at reducing energy costs and carbon emissions globally [6].