- With over 184,000 attendees from 160 countries, ADIPEC 2023 was the most commercially successful edition to date
- Several deals directly advance global decarbonisation goals through innovative clean technology solutions and collaborative projects
- The event delivered over US$350 million in economic benefits for the UAE economy in hospitality, tourism, and travel-related business
- ADIPEC 2023 brought together over 2,200 exhibiting companies and 16,500 delegates under the theme of ‘Decarbonising. Faster. Together.’
ABU DHABI, UAE, Nov. 14, 2023 /PRNewswire/ — ADIPEC 2023 was the most commercially successful edition in the event’s nearly 40-year history, generating US$8.8 billion in business for the global energy industry, as well as delivering over US$350 million in event-related business to the United Arab Emirates (UAE) economy.
ADIPEC 2023, which took place in Abu Dhabi from 2-5 October, under the theme of Decarbonising. Faster. Together., convened global energy leaders and leading voices from across the energy ecosystem to accelerate urgent, collective action and game-changing solutions to decarbonise quicker and future-proof the energy system.
The US$600 million increase in commercial deals, up from the US$8.2bn figure recorded in 2022, reinforces the event as a leading global platform for the energy industry to come together, do business and push the global energy transition agenda forward, towards a cleaner, more secure and sustainable future.
During ADIPEC, ADNOC announced its investment in the Hail and Ghasha offshore development project that aims to operate with net zero carbon dioxide emissions, a first globally. The company also announced the Habshan carbon capture, utilisation, and storage (CCUS) project, in Abu Dhabi, which will be among the largest carbon capture projects in the Middle East and North Africa region.
Occidental subsidiary, 1PointFive, and ADNOC also signed an agreement to explore the feasibility of a 1 million tonne-per-year direct air capture (DAC) facility in the UAE. In addition, a milestone electric-liquefaction train system was awarded for ADNOC’s Ruwais LNG export terminal, supporting the plant’s clean power processes as one of the lowest carbon intensity LNG facilities in the world.
Meanwhile, OMV and Wood signed an agreement for the commercial licensing of OMV’s ReOil technology, which converts end-of-life plastic waste into pyrolysis oil, a valuable renewable energy resource that replaces conventional fuels while enhancing the circularity of plastics.
Discussing the impact of this year’s event, Tayba Al Hashemi, Chair of ADIPEC 2023 and CEO of ADNOC Offshore, said: “ADIPEC continues to play a critical role in the global energy transition, assembling a broad range of key policymakers and CEOs for extensive and impactful discussions on the future of our global energy system and facilitating meaningful partnerships and deals.
“With the most comprehensive agenda in its nearly 40-year history, ADIPEC 2023 shed new light on the industry’s priorities, focusing on the pressing need to decarbonise across the entire value chain. The event stimulated new thinking and ideas on a diverse set of issues, including the creation of circular economies and innovative methods for achieving carbon neutrality in hard-to-abate sectors and re-energised the industry-wide commitment to creating a truly sustainable energy system.”
As well as being a catalyst for multiple industry deals, ADIPEC 2023 also drove activity across the UAE’s economy, generating over US$350 million worth of economic benefits for the local economy, particularly in the hospitality, tourism, and transport sectors.
In support of the UAE’s goal to diversify its economy, Ahmed Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, announced Abu Dhabi would provide 100 investment opportunities with a combined market size of Dh123.3 billion (US$33.5 billion) by 2027 under the ‘Abu Dhabi Channel Partners’ initiative.
Christopher Hudson, President of dmg events, organisers of ADIPEC 2023, said: “ADIPEC 2023 engaged directly with the new priorities of the energy market, bringing together key stakeholders to collaborate around decarbonisation solutions and the development of a secure, profitable and sustainable energy future.
“These efforts not only set the tone for the entire energy industry and its adjacent sectors but also led to significant benefits for both the global and local economy, once more highlighting the central role of cross-sector partnerships and consistent investment in delivering a just, clean and effective energy transition. As we look ahead to 2024, ADIPEC will build upon this year’s success and drive positive change across the energy sector.“
ADIPEC 2023 grew significantly in size and reach, welcoming record participation from NGOs – including Ipieca, Environmental Defense Fund, the Oil & Gas Methane Partnership, the International Renewable Energy Agency (IRENA) and the International Energy Forum (IEF) – as well as diverse voices from energy-adjacent industries including aviation and other heavy industries, finance and technology.
The event also attracted a record-breaking 184,000-plus attendees from 160 countries and over 2,200 exhibiting companies. The conference programme delivered over 350 sessions, featuring the insights of more than 1,600 speakers – including more than 40 government ministers and 220 C-suite global energy executives – who convened to forge paths to decarbonisation through action-oriented and strategic dialogues.
In the lead up to COP28 in the UAE, ADIPEC 2023 helped set the agenda for the energy industry’s push to decarbonisation and the global energy transition by tackling the core challenges of the energy transition – climate technology, investment, energy security and affordability – and helping align the global energy industry’s efforts to lower emissions while maintaining economic growth.
ADIPEC 2024 will take place in Abu Dhabi on 11-14 November 2024 with a mission to continue to support the global energy transition and collective decarbonisation.
Held under the patronage of H.H. Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, and hosted by ADNOC, ADIPEC took place in Abu Dhabi on October 2-5, 2023, under the theme of ‘Decarbonising. Faster. Together.’ ADIPEC 2024 is set to take place in Abu Dhabi on 11-14 November 2024 where it will continue to address global challenges on the road to net zero.
Built on a nearly 40-year legacy of innovation and evolution, ADIPEC brings together the ideas, ambition, technology and capital needed to decarbonise and create the energy system of the future, faster. It unites key stakeholders from across the energy value chain to accelerate urgent, collective and responsible action, produce credible, game-changing solutions, and foster the transformational progress needed to create an inclusive, future-proof energy system.
Across 350 unique sessions comprising strategic and technical conferences, ADIPEC 2023 welcomed more than 1,600 speakers – including government ministers, CEOs, policymakers, energy experts and innovators – to rally industries, sectors and individuals around a common cause, encouraging collaboration and the action required to advance the world’s decarbonisation goals.
As the UAE prepares to welcome global leaders to COP28 in November 2023, ADIPEC helped drive critical conversations that complement the nation’s goal of delivering a COP of collaborative action, while driving investment into the clean energies of the future.
For more information visit: www.adipec.com
ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximise the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification. To find out more, visit: www.adnoc.ae
HOUSTON, Nov. 14, 2023 /PRNewswire/ — KBR (NYSE: KBR) announced today it has signed a Memorandum of Understanding (MoU) with Korea-based ISU Chemical for a commercial ammonia cracking project to be based in Ulsan, Republic of Korea. The project will employ KBR’s innovative technology, H2ACT℠, which has rapidly emerged as the industry’s leading ammonia cracking technology.
Under the terms of the MoU, KBR will provide licensing, proprietary engineering design, proprietary equipment, and catalyst for the planned 10 MTPD hydrogen production unit, with operations scheduled to commence in the first half of 2026.
“We are pleased to extend our collaboration with ISU Chemical to include this important project. This paves the way for the wider adoption of ammonia cracking for the production of hydrogen in support of the transition to a hydrogen economy,” said Doug Kelly, KBR President, Technology. “KBR is continuing to lead energy transition projects globally, and along with ISU, we look forward to demonstrating the value of clean ammonia and hydrogen towards achieving our net zero targets.”
KBR is a world leader in ammonia technology. Since 1943, KBR has licensed and designed more than 250 ammonia plants across the globe.
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 34,000 people performing diverse, complex and mission-critical roles in 33 countries.
KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.
Forward Looking Statements
The statements in this press release that are not historical statements, including statements regarding the performance of the company’s MoU with ISU Chemical, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company’s control, that could cause actual results to differ materially from the results expressed or implied by the statements. These risks, uncertainties and assumptions include, but are not limited to, those set forth in the company’s most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
SOURCE KBR, Inc.
CHICAGO, Aug. 31, 2023 /PRNewswire/ — The Commercial Greenhouse Market is projected to reach USD 68.7 billion by 2028 from an estimated USD 39.6 billion in 2023, at a CAGR of 11.6% from 2023 to 2028 according to a report published by MarketsandMarkets™. The market for commercial greenhouses is being driven by a number of factors that reflect the evolving needs and priorities of individuals, businesses, and industries. Greenhouses allow for the cultivation of a wide range of crops, including those that may not be well-suited to the local climate. This diversification can increase market opportunities for growers. Moreover, Greenhouses provide protection from extreme weather events, allowing farmers to reduce the risks associated with crop losses due to factors like hail, frost, or heavy rainfall.
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By type, the plastic greenhouse segment accounted for the largest share of the commercial greenhouse market.
The plastic greenhouse segment is expected to have significant market value over the forecast period due to the rise in environmental concerns worldwide and their higher yield capacity. The leading players in the market are also emphasizing the development of efficient and high-quality products to tap the huge unaddressed opportunities in developing geographical locations. This can be witnessed by the increased spending on research and development and the growing number of new product approvals. Plastic greenhouse styles can vary from small stand-alone structures to large gutter-connected greenhouses. Free-standing greenhouses are completely independent structures that come in a variety of designs. Thus, the versatility offered by plastic greenhouses is expected to drive the market in the upcoming years.
By equipment, the hardware segment accounted for the largest share of the commercial greenhouse market by value.
The hardware segment holds the largest market share in the commercial greenhouse market due to its pivotal role in creating the foundation for efficient and effective greenhouse operations. Hardware components such as structural frameworks, ventilation systems, heating and cooling systems, lighting, irrigation systems, and automated controls are the essential building blocks that ensure optimal growing conditions. These hardware components directly impact factors like temperature, humidity, lighting intensity, and nutrient delivery, which are critical for successful crop cultivation in controlled environments. As the adoption of commercial greenhouses grows, businesses and growers prioritize investing in robust and technologically advanced hardware solutions that guarantee consistent yields, higher-quality produce, and resource efficiency.
By crop type, the vegetable segment accounted for the largest share of the commercial greenhouse market.
Vegetables are a dietary staple, representing a significant portion of daily nutritional intake for individuals worldwide. Moreover, commercial greenhouses provide an ideal environment for the year-round cultivation of vegetables, allowing growers to meet consistent consumer demand regardless of seasonal limitations. Additionally, consumer preferences are increasingly shifting towards locally sourced and sustainably grown produce, aligning with the capabilities of commercial greenhouses to provide fresh and environmentally conscious options.
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The Europe region accounted for the largest market, in terms of value, of the commercial greenhouse market in 2022.
Due to several factors, the market for commercial greenhouses is expanding in Europe. As consumers look for a year-round supply of vegetables and other crops, to satisfy this demand commercial greenhouse would provide a steady supply of fresh vegetables and other crops that aligns with consumer demand for uniform availability. A favorable climate for the adoption of greenhouses is also being fostered by Europe’s propensity for cutting-edge agricultural technologies, supportive government policies, and incentives for sustainable farming practices, further boosting the market in Europe.
The key players in this market include Berry Global Group, Inc (US), Signify Holding (Netherlands), Heliospectra AB (Sweden), PLASTIKA KRITIS S.A. (Greece), EVERLIGHT ELECTRONICS CO., LTD (Taiwan), Prospiant (US), RICHEL GROUP (France), Argus Control Systems Limited (Canada), Certhon (Netherlands), LOGIQS.B.V. (Netherlands), Lumigrow, Inc (Canada), Agra Tech, Inc (US), Hort Americas (US), Top Greenhouses (Israel), Stuppy Greenhouse (US).
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Indoor Farming Technology Market by Growing System (Hydroponics, Aeroponics, Aquaponics, Soil-based, Hybrid), Facility Type, Component, Crop Type (Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals) and Region – Global Forecast to 2028
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BEIJING, Aug. 11, 2023 /PRNewswire/ — A report from GLOBAL TIMES ONLINE：
State Power Investment Corporation (SPIC) ranking 262nd on the 2023 Fortune Global 500 list unveiled recently. It marks the 12th straight year SPIC has made the Global 500 list and its 3rd consecutive year in the top 300.
In 2022, SPIC achieved operating revenue of $363.391 billion, a 9.61% year-on-year increase, with total installed capacity reaching 232 million kW. Since 2023, SPIC has continued consolidating its advantages in clean energy development. Its installed capacity of clean energy exceeded 160 million kW, making up 67.67% of its total installed capacity.
SPIC remains firmly committed to green development, and is comprehensively strengthening international energy cooperation. In Turkey, SPIC invested in and built the Hunutlu Power Plant, a key project aligning China’s Belt and Road Initiative with Turkey’s Middle Corridor Initiative. The plant generates 9 billion kWh of electricity for Turkey annually. As the only power plant that remained fully operational throughout the major earthquake in Turkey, Hunutlu Power Plant’s was highly praised by Turkey’s Ministry of Energy and Natural Resources for its safe and stable operations.
Adhering to innovation-driven development to promote green and low-carbon transformation in the energy sector, SPIC boasts advanced 3rd-generation passive nuclear power technology and complete supply capabilities for the nuclear industry chain. It has around 10 million kW of installed nuclear power capacity, including 8 operating units and 6 under construction. SPIC’s Haiyang Nuclear Power Plant in Shandong Province, since it was put into use in October 2018, has maintained excellent performance, setting a record of the shortest overhaul period of less than 20 days. The “Guohe No. 1” project currently under construction in Rongcheng, Shandong will be the world’s largest single-unit passive pressurized water reactor. Standing at a new historical starting point, SPIC will always follow green development, build itself into a world-class clean energy enterprise with global competitiveness in an integrated and collaborative way, and contribute inexhaustible momentum to jointly building a green Earth.
The Fortune Global 500 ranks the top companies worldwide by revenue, profits and other indexes. This year, 142 Chinese companies were named on the list.
SOURCE GLOBAL TIMES ONLINE
New Loan Brings Total to $50 Million Arranged by GCL for Aemetis Project, Which Processes Methane From California Dairy Farms Into Carbon Negative Renewable Natural Gas for Use as Transportation Fuel
RENO, Nev., Aug. 9, 2023 /PRNewswire/ — Greater Commercial Lending (GCL), which provides government-guaranteed loans to businesses and organizations in under-served and rural communities, has completed its second $25 million loan for the Aemetis Biogas Central Dairy Digester Project. The first $25 million loan was completed in October 2022.
The loan, guaranteed by the U.S. Department of Agriculture (USDA) through the Rural Energy for America Program (REAP), will finance the construction of biogas digesters and related assets for eight dairies located in Stanislaus County and Merced County, California. The digesters capture biomethane from animal waste, which is delivered via pipeline to a central facility that converts the biogas into carbon negative renewable natural gas (RNG) for use as a transportation fuel. The RNG has a negative Carbon Intensity rating because it removes damaging methane gas emissions from the environment and converts the biomethane into a transportation fuel to replace diesel.
“Renewable fuels projects such as the Aemetis dairy renewable natural gas project play a pivotal role in shaping a sustainable future for our planet. However, their successful implementation often requires substantial financial support that isn’t easily accessible through traditional financing sources,” said Jeremy Gilpin, president of GCL, one of the largest providers of USDA loans. “Government-guaranteed loans are critical in advancing these innovative technologies. As we embrace renewable energy, harnessing the power of government-guaranteed financing becomes indispensable in creating a sustainable and thriving future for generations to come.”
The second phase of the project will expand Aemetis Biogas from its current seven operational dairy digesters to biogas digesters at 15 dairies, supplying an estimated 400,000 MMBtu per year of carbon negative RNG. The initial phase of the project, which also included a 40-mile biogas pipeline, was made possible by the first USDA-guaranteed loan completed by GCL.
“We are grateful for our continued working relationship with Greater Commercial Lending, which enables us to expand our operations to improve air quality and reduce carbon pollution,” said Eric McAfee, Chairman and CEO of Aemetis. “This project would not have been possible without USDA-guaranteed financing.”
The Aemetis biogas project, when fully built, will connect biogas digesters spanning more than 65 dairy farms and produce more than 1,650,000 MMBtu of renewable natural gas from captured dairy methane each year. The project is on track to reduce greenhouse gas emissions equivalent to an estimated 6.8 million metric tonnes of carbon dioxide over 10 years, equal to removing the emissions from approximately 150,000 cars per year, according to Aemetis.
Magnolia Bank of Elizabethtown, Kentucky provided the primary funding for the loan. The loan was made to Aemetis Biogas 2, LLC, a wholly owned subsidiary of Aemetis, Inc.
About Greater Commercial Lending
Greater Commercial Lending (GCL) is a credit organization that brings together banks, credit unions and other lenders to provide U.S. government-guaranteed loans to businesses and initiatives in rural and under-served markets throughout the U.S. and its territories. It helps finance key infrastructure services, like power, renewable energy, transportation and fiber optics, as well as schools, hospitals, restaurants, agriculture, hotels and manufacturers. GCL partners with the U.S. Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA), which guarantee loans, to arrange credit at favorable terms. GCL’s network of lenders includes nearly 200 banks, credit unions and other financial institutions.
Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions. Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. Aemetis is developing the Carbon Zero sustainable aviation fuel (SAF) and renewable diesel fuel biorefineries in California to utilize distillers corn oil and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. Aemetis holds a portfolio of patents and exclusive technology licenses to produce renewable fuels and biochemicals. For additional information about Aemetis, please visit www.aemetis.com.
SOURCE Greater Commercial Lending
The sustainable marine transportation initiative is projected to save an impressive 100 tons of CO2 emissions on Lake Annecy
SAINT-JORIOZ, France, July 5, 2023 /PRNewswire/ — SeaBubbles, a leading innovator in sustainable marine transportation, announces the launch of France’s first commercial service of its groundbreaking ‘flying’ hydrofoil boat, the Bubble. Following the successful certification of the Bubble, SeaBubbles is thrilled to introduce this one-of-a-kind mode of transportation as part of a pilot line offering regular passenger service in collaboration with the Grand Annecy conurbation.
The Grand Annecy, renowned for its picturesque landscapes and commitment to environmental conservation, has taken a significant step towards sustainable mobility by introducing an electric shuttle service on France’s prime lake site. The project aims to combine the region’s natural attractiveness with a responsible transport mix that includes the pioneering SeaBubble hydrofoil boats.
With eight rotations per day for a period of two months, the initiative is projected to save an impressive 100 tons of CO2 emissions on the lake compared to traditional thermal boats. By incorporating electric shuttles, sourced from a consortium of local players, including the 4-seater SeaBubble flying bubble, passengers traveling on the line will have the opportunity to explore the wonders of the lake while enjoying a unique, silent, comfortable, and environmentally-friendly travel experience.
The SeaBubble employs an electric propulsion system and hydrofoil wings to lift the vessel out of the water, significantly reducing drag and enhancing speed. Passengers can anticipate an exhilarating journey as they glide smoothly across the water, offering breathtaking views of the surrounding landscapes.
“This initiative marks the start of a major new stage since the SeaBubbles teams joined our territory. We are committed to experimenting with next-generation solutions. This pilot project for carbon-free waterborne mobility is a source of inspiration for inventing tomorrow’s mobility solutions.” explains Frédérique Lardet, President of Grand Annecy.
“With this new eco-friendly, zero-carbon shuttle service, we intend to offer users of the line and residents of the conurbation not only a different relationship with the privileged natural setting of Lake Annecy, but also future options for easing traffic congestion on the shores of the lake”, declares Virginie Seurat, CEO of SeaBubbles.
By introducing the Bubble as part of a comprehensive transport system, SeaBubbles takes significant strides towards creating a cleaner and more efficient future for tourism and mobility.