Atlantic Petroleum P/F | March 10, 2022
P/F Atlantic Petroleum announces that the Betri Group has reduced the holdings to below 5% capital.
Today March 9, 2022, Betri Banki P/F has sold a total of 26,004 shares in Atlantic Petroleum P/F. Thereby reducing the Betri Group holdings of shares in Atlantic Petroleum to 180.626 shares corresponding to 4.88%.
Atlantic Petroleum in brief
Atlantic Petroleum participates in oil and gas joint ventures with reputable, international partners. Atlantic Petroleum P/F is based in Tórshavn, Faroe Islands, and the Company has subsidiaries and offices in the UK and Ireland. Atlantic Petroleum’s shares are listed on NASDAQ OMX Copenhagen.
True Value Company | March 15, 2022
True Value Company, one of the world's largest hardlines wholesalers, and The Yenkin-Majestic Paint Corporation, an Ohio-based manufacturer of coatings and coatings resins, announced they have entered into a definitive agreement under which True Value Company will acquire Yenkin-Majestic's consumer paint business, producing architectural coatings for home, agricultural, and specialty applications under the Majic brand name.
"The acquisition of the Majic portfolio of products is an excellent strategic fit for True Value. The Majic paint brand deepens our strong portfolio of products, which today includes our flagship EasyCare brand, and enhances our capabilities in the agricultural and other specialty segments of the paint industry. Customers of both companies will benefit from the higher levels of investment that True Value plans to make in research and development, as well as improving supply chain resiliency and customer support."
John Vanderpool, Division President, True Value Manufacturing & General Paint
Chris Kempa, CEO of True Value Company said, "This acquisition is another example of True Value's commitment to investing in its business, aggressively pursuing growth and ensuring that our retailers have what they need to win in the marketplace."
"True Value's focus on quality and service to paint retailers, and their commitment to the associates who power our organizations, mirror our company culture as a family-owned business," said Yenkin-Majestic President and CEO Andrew O. Smith. "True Value has been a respected partner of ours for many years, and we know they will take the Majic product line to new heights. We can think of no finer company to carry forward the legacy of our consumer paint business." He added, "This transaction also allows us to focus our resources and reinvest in our polymers business."
About True Value Company
True Value Company, headquartered in Chicago, is one of the world's leading hardlines wholesalers with a globally recognized brand and over 70 years of experience serving independent hardware retailers. True Value Company provides its customers in over 60 countries an expansive product set of market-customized assortments at highly competitive prices, superior product availability, innovative marketing programs and a la carte value-added services like eCommerce ship-to-store, store remodel support and True Value University, all within a flexible model that requires no membership. With 13 regional distribution centers, and approximately 2,500 associates serving over 4,500 stores, True Value Company celebrates independence and drives retail excellence across the U.S. and internationally.
The Yenkin-Majestic Paint Corporation, based in Columbus, OH, is the owner of OPC Polymers, one of North America's leading suppliers of coatings resins. OPC Polymers serves the paint industry through continuous innovation in its broad portfolio of alkyd, copolymer, and specialty resins. This family-owned business began in 1920.
ECOTEC | February 04, 2022
Ecotec International Holdings, LLC (“ECOTEC”), a global leader in methane emissions monitoring, is pleased to announce a strategic investment by funds managed by Intrepid Investment Management, LLC, the investing arm of Intrepid Financial Partners, L.L.C. Intrepid is a leading energy-focused merchant bank with over 50 employees, and expertise in upstream, midstream, downstream, oilfield services and energy transition. ECOTEC provides a comprehensive suite of patented, cutting-edge instrumentation and software solutions to companies, organizations, and municipalities around the world, helping them manage and remediate their environmental footprint by accurately identifying and quantifying their greenhouse gas emissions.
ECOTEC has an over thirty-year history of the design, development and implementation of instrumentation and software for emissions detection and compliance within the natural gas, biogas, carbon credits and air quality industries, with recent expansion into the oil and gas industry.
The company will use the proceeds to accelerate the production and roll-out of its patented instrumentation and emissions data collection software to fulfill strong customer demand in the biogas and oil and gas industries.
“We believe this is a unique opportunity to partner with thought leaders in the oil and gas and energy transition industries, particularly as we continue to grow our oil and gas business. The Intrepid team brings over 200 years of collective experience advising and investing in the energy and energy transition sectors through multiple cycles and against secular changes throughout their history – that experience and their industry relationships are central to our partnership and creating value for our customers and stakeholders.”
Tim Novick, CEO of ECOTEC
Skip McGee, Co-Founder and CEO of Intrepid, says, “We are incredibly excited to be partnering with ECOTEC as they continue to grow their business, and in particular, as they expand into oil and gas. ECOTEC has historically been a leader in emissions solutions to the biogas and utilities industry, and they are well- positioned to leverage their decades-long experience to provide expert solutions for the oil and gas industry. We have known members of the management team for almost two decades, and we look forward to working with them on the very important mission of building a path towards a lower-carbon world.”
ECOTEC specializes in the design and development of specialty equipment and software solutions for the natural gas, biogas, renewable natural gas, carbon credit and oil and gas markets through its ECOTEC, AQMESH, GAS DATA, and GAZOMAT brands. With offices around the globe, ECOTEC's comprehensive solutions have been deployed around the world to help companies, organizations and municipalities identify, quantify, and remediate their environmental footprint, particularly through reductions in methane emissions.
Intrepid is a merchant bank that provides investment banking and investing management services. Intrepid’s leading boutique investment banking business provides independent and best-in-class merger & acquisition, restructuring and capital markets services to the energy and energy transition industries, and has advised on ~$150 billion of transactions since 2015. Intrepid’s investment management business makes principal debt and equity investments through its managed funds. Current strategies include private equity, infrastructure and venture capital across energy and energy transition.
AMP Robotics Corp | March 08, 2022
AMP Robotics Corp a pioneer in AI robotics, and infrastructure for the waste and recycling industry, has extended its partnership with Evergreen, one of North America’s three largest producers of food-grade recycled polyethylene terephthalate (rPET). Evergreen, which has grown through acquisitions to four locations across North America from its original facility in Clyde, Ohio, now has 15 of AMP’s robotic sorting systems guided by artificial intelligence installed or planned across three facilities. In addition to six robots in Clyde, Evergreen has added six in Riverside, California, and will soon add three in Albany, New York.
AMP’s technology identifies and sorts green and clear PET from post-consumer bales of plastic soft drink bottles at speeds up to three times faster and at a higher accuracy than manual sorters can achieve. Evergreen then recycles the material into reusable flakes or pellets, which it sells to end markets as feedstock for new containers and packaging.
“Evergreen is a leader in the transformation of recycling processes, and its application of AI-guided sortation is increasing plastic recycling rates and helping to close the loop on PET. Evergreen’s repeat orders of our systems is a testament to the operational benefits of our AI and automation solutions, and we’re proud to play a role in the company’s expansion and modernization efforts.”
Matanya Horowitz, founder and CEO of AMP Robotics
With AMP’s robots focused on refining the quality of material, separating plastics more precisely by color, Evergreen has seen a notable improvement in purity along with pick rates of up to 120 bottles per minute—an increase of up to 200%. The robots are removing up to 90% of contamination, on average, across different lines at Evergreen’s Clyde facility.
Thanks to its expansion and infrastructure investments, Evergreen’s annual capacity of rPET has swelled to more than 147 million pounds, up from 40 million pounds one year ago. Evergreen has also increased the number of post-consumer PET bottles it collects and recycles, from two billion PET bottles annually to 11.6 billion bottles.
“As a leader in the transition to recycled PET from virgin resin, the precision and accuracy of AI-enabled robotics has allowed us to better monitor material composition throughout our operation, increase capture, and ensure high quality in the rPET resin we produce,” said Greg Johnson, Evergreen general manager. “We want to recover all we can, and with AMP’s technology, we are—thereby helping to supply a higher-quality end product and a larger volume of recycled plastic for brands to source for their recycled content goals and sustainability commitments.”
In addition to PET, AMP’s AI platform precisely identifies and captures plastics including high-density polyethylene (HDPE), low-density polyethylene (LDPE), polypropylene (PP), and polystyrene (PS), sorted further by color, clarity, and opacity, along with different form factors—lids, tubs, clamshells, cups, and more. AMP’s technology also recovers cardboard, paper, cans, cartons, and many other containers and packaging types reclaimed for raw material processing. It can quickly adapt to container packaging introduced into the recycling stream with recognition capabilities to the brand level—increasingly critical as demand for sufficient quantities of high-quality recycled material grows to meet consumer packaged goods companies’ commitment to use of post-consumer recycled content.
AMP has nearly 200 deployments in more than 80 facilities across three continents. Both AMP and Evergreen are sponsoring, exhibiting, and speaking at this week’s Plastics Recycling Conference, North America’s largest gathering of plastics recycling and sustainability professionals. Johnson will participate on a March 8 panel about how funding from the investment community has reshaped the plastics processing landscape, helping stakeholders meet end-consumer demand for sustainable products. On March 9, Chris Wirth, AMP’s vice president of marketing and government affairs, is moderating a session about recyclability labeling.
About AMP Robotics® Corp.
AMP Robotics is modernizing the world’s recycling infrastructure by applying AI and automation to increase recycling rates and economically recover recyclables reclaimed as raw materials for the global supply chain. The AMP Cortex™ high-speed robotics system automates the identification and sorting of recyclables from mixed material streams. The AMP Neuron™ AI platform continuously trains itself by recognizing different colors, textures, shapes, sizes, patterns, and even brand labels to identify materials and their recyclability. Neuron then guides robots to pick and place the material to be recycled. Designed to run 24/7, all of this happens at superhuman speed with extremely high accuracy. AMP Clarity™ provides data and material characterization on what recyclables are captured and missed, helping recycling businesses and producers maximize recovery. With deployments across North America, Asia, and Europe, AMP’s technology recovers recyclables from municipal collection, precious commodities from electronic scrap, and high-value materials from construction and demolition debris.
Established in 1998 with a single location in Clyde, Ohio, Evergreen is a recycling company and one of North America’s largest producers of food grade recycled polyethylene terephthalate (rPET), a recycled resin used as a green alternative to virgin resin in beverage bottles, food containers, health and beauty packaging, home products, and others. In 2021, Evergreen acquired three additional locations in Albany, New York; Amherst, Nova Scotia; and Riverside, California; and deployed AI-enabled robotics to transform its recycling practices. Evergreen is the preferred supplier of rPET to top global brands, helping customers increase recycled content in their packaging, keep plastic out of landfills and oceans, and meet sustainability and ESG goals. Evergreen is a proud member of the American Beverage Association, NAPCOR and the Association of Plastic Recyclers.