DUBAL and Imdaad to foster sustainability projects in the recycling and sustainability sector in the UAE

Key Insights and Signals in Energy & Utilities

Sempra and Betchel Energy agree on the price for the LNG project 
Sempra amended its engineering, procurement, and construction (EPC) contract with Betchel Energy for Port Arthur LNG in Jefferson County, Texas. The amended contract for the proposed phase one liquefaction project under development in the US now includes an updated price of USD 10.5 Bn. Read More>>
Weatherford receives a five-year contract exceeding USD 500 Mn from PDO 
Per the contract with Petroleum Development Oman, PDO, Wetherford will deliver Integrated Drilling Services in the Marmul and Grater Saqar fields. Weatherford Integrated Drilling Services will combine a suite of technologies to deliver holistic and innovative solutions that maximize drilling efficiency in PDO’s Marmul and Grater Saqar Fields. Read More>>
APS signs agreement with Landi 
The two companies have signed an agreement for additional advanced metering infrastructure enabling a wide range of smart grid applications. The contract includes the installation of 500,000 advanced meters over the next seven years. It’s the largest electric utility and provides electric service to 1.3 million homes and businesses in eleven of the state’s fifteen counties. Read More>>
TotalEnergies and Inquieto join forces in the delivery of the sustainable last mile  
Through a new collaboration agreement, TotalEnergies, the multi-energy company, will support the comprehensive solutions for electric mobility offered by Inquieto throughout the national territory, in the 58 delegations, and in more than 300 maintenance points where it is present. Read More>>
DUBAL Holding, Imdaad join hands to foster sustainability projects in the UAE 
DUBAL Holding, focusing on Non-Ferrous Metals, Recycling, Energy & Industrial Sectors, and Imdaad that, enhance operational efficiencies of physical assets, signed a Memorandum of Understanding (MoU) to explore and invest in projects aimed at fostering the Recycling and Sustainability sector in UAE. Read More>>
Mitsubishi Corporation and FEV Consulting establish a new joint venture for the materials industry 
The company is pleased to announce a new joint venture company, Beyond Materials Corporation, to support materials suppliers on their path to global and sustainable growth. MC expects this joint venture to build a bridge between those who use functional materials and those who make them, whether in chemicals, metals, ceramics, and other composites. Read More>>
Executive Movement
Unitil elects a new member of the Board of Directors
Unitil announced that its Board of Directors elected Neveen F. Awad, Ph., as part of the board’s normal succession planning process in anticipation of the upcoming retirements of directors reaching the mandatory retirement age of seventy-five. Read More>>
FirstEnergy names John Hawkins Vice President of Operations Support 
The company announced that John Hawkins had been named vice president of Operations Support, effective Oct. 24. Hawkins succeeds David Karafa, retiring after more than 40 years of service with FirstEnergy. Read More>>
Cummins Inc. names Marvin Boakye as Chief Human Resources Officer 
Marvin Boakye will join Cummins as Chief Human Resources Officer, effective November 7, 2022. Boakye most recently served as the Chief People & Diversity Officer at Papa John’s International. As CHRO, Boakye will lead a global group of HR employees and serve on the Cummins Leadership Team. Read More>>
Financial and Market Activity
American Water Works tops Q3 earnings and revenue estimates
American Water came out with quarterly earnings of USD 1.63 per share, beating the Zacks Consensus Estimate of USD 1.49 per share. A quarter ago, it was expected that this water utility would post earnings of USD 1.14 per share when it produced earnings of USD 1.20, delivering a surprise of 5.26%. Read More>>
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Latest Industry Insights from Draup Braindesk

  1. EnBW invests EUR 100 Mn (USD 98.8 Mn) annually to advance the mobility transformation by improving fast-charging infrastructure and installing up to 300kW charge outlets across Germany. 
  2. EnBW focuses on electromobility, telecommunications, broadband, photovoltaics, and energy storage systems to expand urban infrastructure and smart networking of energy and heating supplies 
  3. EnBW expands its fiber-optic network, broadband business, and telecommunications infrastructure to improve mobile phone coverage in Baden-Württemberg, Germany. 
  4. The company is keen on expanding wind farms and photovoltaic plants to consume self-generated electricity directly for intelligent home storage facilities. 
  5. Mannheim Area, Germany, serves as a vital location and focuses on Transmission & Distribution – related engagements. 
  6. Product Engineering Service is the highly outsourced segment, holding approximately 60% of the total outsourcing headcount. Royal Boskalis Westminster N.V. is the major outsourcing partner for EnBW. 

Funding Alert

Levidian announces investment of USD 12 Mn from Baker Hughes 
Levidian’s LOOP technology decarbonizes methane by cracking it into carbon and hydrogen components. The hydrogen can be used immediately as a hydrogen-rich gas blend, supporting industrial decarbonization, or separated and stored. Read more>>

Startup Spotlight

Company – Evergen
Total Funding  USD 22.16 Mn
About: The Evergen Intelligent Control optimizes solar and battery system performance, enabling homeowners to take control of their energy costs and impact on the environment. Our technology also allows smarter energy by orchestrating large fleets of batteries to enable Virtual Power Plants. Read more>>

Latest Reports Published in Draup

GE Renewable Energy Account Intelligence Report 
GE Renewable Energy provides integrated solutions to the energy transition to increase renewable energy generation while lowering electricity costs and modernizing the grid. It focuses on developing wind turbine engines and supporting the transition to wind-renewable energy sources. Read More>>
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