Latest news with #BenDell
Indian Express
15-05-2025
- Automotive
- Indian Express
How Mercedes' latest material innovation pushes F1 sustainability forward
Written by Somya Panwar For 75 years, Formula One has thrived on innovation — much of it engineered for performance, speed, and spectacle. But the Mercedes-AMG PETRONAS F1 Team is adding another layer to that legacy: sustainability. In a landmark move that aligns with F1's shifting environmental priorities, Mercedes announced that by 2025, their W16 challenger will feature use of sustainable carbon fibre composites — marking the first time in the sport's history that this scale of sustainable material will be integrated into a Formula One car. The initiative, driven in part by Mercedes' commitment to achieving net-zero carbon by 2040, isn't just about optics. Roughly 75% of the team's race car will soon be composed of sustainable carbon fibre. 'When you combine performance and innovation, you create progress,' Toto Wolff, CEO of Mercedes-AMG PETRONAS F1 Team and Head of Mercedes-Benz Motorsport, said in a statement. 'I am proud to lead a team of problem solvers who are committed to driving sustainable changes.' The material itself is engineered from two essential components — fibres and a resin system. Typically, the composite is made up of 60% fibres and 40% resin, cured into a lightweight but durable material capable of withstanding the stress of elite motorsport competition. Mercedes' longstanding partner, Petronas, is onboard as well, aligning its own green fuel development with the team's sustainability push. The latest project sees Mercedes collaborate with Chestnut Carbon, an organization focused on ecological restoration and carbon removal. Two separate programs are underway: one targeting the carbon fibre material and another improving the sustainability of the resin system. 'This commitment is reflected in our ownership of the land and our 100-year project design,' said Ben Dell, CEO of Chestnut Carbon. 'We have developed a comprehensive Community Engagement plan to ensure transparent communication and positive relationships with the local stakeholders, reinforcing our dedication to both environmental stewardship and community support.' As part of this effort, Mercedes has committed to purchasing 5,500 tonnes of carbon removal credits between 2027 and 2030. The project is supported by a network of four to eight suppliers for each component of the composite material, and each part must still pass the FIA's rigorous performance testing before hitting the grid. 'We are proud to be at the forefront of sustainable innovation within our sport,' said Alice Ashpitel, Head of Sustainability at Mercedes. 'Leadership must be driven by innovation, and our team's efforts in this space are the latest demonstration of our ambition to become one of the world's most sustainable global sports teams.' Mercedes is exploring applications of these sustainable materials in industries like aviation and aerospace—an evolution of F1's role as a high-speed laboratory for change. As per sustainability magazine, Ben Dell, CEO of Chestnut Carbon commented: 'This commitment is reflected in our ownership of the land and our 100-year project design. Additionally, we have developed a comprehensive Community Engagement plan to ensure transparent communication and positive relationships with the local stakeholders, reinforcing our dedication to both environmental stewardship and community support.' (The writer in an intern with the Indian Express)
Yahoo
14-05-2025
- Business
- Yahoo
Commonwealth LNG and KTG finalise 2mtpa LNG offtake deal with Glencore
Commonwealth LNG and Kimmeridge Texas Gas (KTG) have finalised binding agreements with Glencore to establish a strategic partnership in natural gas and liquefied natural gas (LNG). According to the terms of the agreements, Glencore will acquire two million tonnes per annum (mtpa) of LNG from Commonwealth LNG. The LNG will be obtained from Commonwealth LNG's export facility in Cameron Parish, Louisiana, US. Additionally, Glencore will secure a corresponding supply of natural gas from KTG under a netback agreement at international prices. The companies signed a heads of terms agreement regarding the offtake deal in September 2024. KTG CEO David Lawler said: "Our partnership with Glencore furthers the transformation of KTG into an integrated natural gas champion that provides reliable, clean energy from wellhead to water. We look forward to reaching critical international gas markets in partnership with Glencore." The agreement with Glencore brings Commonwealth LNG's total long-term offtake to 3mtpa, as the company moves closer to finalising its commercial book. Commonwealth LNG chairman and Kimmeridge managing partner Ben Dell said: "Following from the initial partnership announcement with Glencore last year, this critical milestone furthers our commitment to developing a state-of-the-art LNG export facility that will prioritise environmental stewardship and create lasting value for local communities. We are pleased with our progress and look forward to hitting the key targets on our commercialisation timeline." The agreement also marks a step towards the targeted final investment decision in the third quarter of 2025 (Q3 2025), with the first LNG production expected in 2029. Glencore LNG, Gas and Power global head Maxim Kolupaev added: "Finalising our agreements with Kimmeridge Texas Gas and Commonwealth marks an important step in advancing our global gas strategy. By partnering with two industry leaders in LNG and natural gas, we are expanding our portfolio and reinforcing our commitment to a cleaner, more sustainable energy future." Glencore Singapore also signed a contract with Australian oil and gas producer Santos for the supply of LNG cargoes in September 2024. Starting in Q4 2025, Santos will supply LNG cargoes equivalent to up to approximately 500,000 tonnes per annum over a three-year period. The LNG will be sourced from Santos' portfolio of LNG assets and delivered on an ex-ship basis. "Commonwealth LNG and KTG finalise 2mtpa LNG offtake deal with Glencore" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
14-05-2025
- Business
- Associated Press
Kimmeridge Expands Global Footprint with Launch of Abu Dhabi Office and Signing of MOU with Mubadala Energy
Office underscores Kimmeridge's commitment to the Middle East, strengthening the firm's role as a gateway for global energy investments at the front end of the cost curve The announcement follows recent agreement with Mubadala Energy to acquire a minority stake in Kimmeridge's SoTex HoldCo LLC, Mubadala Energy's first major energy investment in the US MOU paves the way for further collaboration to identify and pursue natural gas and LNG investments Fayçal Benjelloun appointed as Managing Director and Senior Executive Officer ABU DHABI, UAE and NEW YORK, May 14, 2025 /PRNewswire/ -- Kimmeridge, an alternative asset manager focused on the energy sector, headquartered in New York, with offices in Denver and London, today announced its strategic expansion into the Middle East with the launch of an office in ADGM, the international financial center of Abu Dhabi the UAE's capital. The opening underscores Kimmeridge's commitment to the Middle East and strengthens the firm's role as a gateway for energy investments between the US, the UAE and the wider region. The ADGM office builds on a legacy of relationships with regional institutions and partners, and is also expected to host investment teams as Kimmeridge explores opportunities in the Middle East and Asia. Coinciding with the celebration in ADGM, Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, and Ben Dell, Managing Partner of Kimmeridge, signed a memorandum of understanding (MOU), paving the way for further collaboration on natural gas and LNG investments. The MOU follows the recent agreement to sell a minority stake in Kimmeridge's SoTex HoldCo LLC, to Mubadala Energy – marking the platform's first major investment in the US energy market. Benjamin Dell, Co-Founder and Managing Partner of Kimmeridge, said: 'The opening of our UAE office and expanding partnership with Mubadala Energy are natural steps as we build on strong relationships in the region and capitalize on a host of compelling opportunities across the evolving energy ecosystem, for the benefit of all stakeholders. We are privileged to be part of the region's economic growth and transformation story – and to be able to contribute to the UAE's national energy strategy. We look forward to hosting our esteemed friends and partners at ADGM.' Commenting about the MOU, Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, said: 'We are pleased to sign this MOU which provides the framework for future collaboration following our recent U.S. partnership announcement. Kimmeridge shares our ambition for accelerated growth across the gas value chain, and as an international energy company we are excited to strengthen this collaboration by driving new, strategic opportunities.' Kimmeridge's team in the Middle East will be headed by Fayçal Benjelloun, Managing Director & Head of Middle East, who will also be acting as Senior Executive Officer. Mr. Benjelloun joins from Mubadala Capital, bringing extensive experience across the Middle East, Africa, and Asia, with a strong network and track record in business development and investor relations. Fayçal Benjelloun added: 'Our new ADGM office connects Kimmeridge's operations in the US and the Middle East, serving as a strategic hub to meet the growing regional demand for high-performing energy assets. Kimmeridge is at the forefront of both conventional energy and the energy transition—key priorities for regional investors and governments that are taking significant steps toward achieving their net zero targets.' Kimmeridge's newly established office will be based in ADGM's international financial center. The firm has received a category 4 license from the Financial Services Regulatory Authority (FSRA) of ADGM for its branch office in Abu Dhabi to advise and arrange transactions and investments. Arvind Ramamurthy, Chief of Market Development at ADGM, said: 'ADGM is pleased to welcome Kimmeridge to one of the world's largest international financial centres and the region's fastest-growing asset management hub. With robust regulations for alternative investment entities, a comprehensive ecosystem for asset management and a vibrant community based in the heart of the 'Capital of Capital,' Abu Dhabi, ADGM provides an ideal environment for Kimmeridge's regional expansion. We look forward to the offerings they will bring to their partners and investors in Abu Dhabi and the region.' About Kimmeridge Founded in 2012, with its principal office in New York, USA, as well as Denver, London and Abu Dhabi, Kimmeridge is an alternative asset manager focused exclusively on the energy sector. It is a registered investment adviser under the regulation and supervision of the Securities and Exchange Commission (the 'SEC') in the US since 2012. The firm is differentiated by its deep technical knowledge, proprietary research and data gathering. Kimmeridge is committed to its core values of integrity, innovation and teamwork and aims to deliver best-in-class performance. Kimmeridge's activities center on the oil and gas space, associated infrastructure and low carbon solutions. The firm invests in public and private companies, including through direct ownership of assets, and employs an in-house operations team in Denver through its wholly owned subsidiary, Kimmeridge Operations, LLC ('Kimmeridge Operations'). Since inception, Kimmeridge has raised over $6 billion in institutional investor commitments. Further information: Press contacts: Kimmeridge US Daniel Yunger / Hallie Wolff / Emma Cloyd [email protected] Kimmeridge Middle East Gregor Riemann / Tina Khoury / Ali Kurdieh [email protected] View original content: SOURCE Kimmeridge
Zawya
14-05-2025
- Business
- Zawya
Kimmeridge opens in Abu Dhabi, partners with Mubadala
UAE - Kimmeridge, an alternative asset manager focusing on the energy sector, has opened an office in Abu Dhabi's ADGM, the international financial center. This move strengthens Kimmeridge's role as a gateway for energy investments between the US, UAE, and the region. The office will build on relationships with regional institutions and partners and host investment teams as Kimmeridge explores opportunities in the Middle East and Asia. Coinciding with the celebration in ADGM, Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, and Ben Dell, Managing Partner of Kimmeridge, signed a memorandum of understanding (MOU), paving the way for further collaboration on natural gas and LNG investments. The MOU follows the recent agreement to sell a minority stake in Kimmeridge's SoTex, to Mubadala Energy – marking the platform's first major investment in the US energy market. Benjamin Dell, Co-Founder and Managing Partner of Kimmeridge, said: 'The opening of our UAE office and expanding partnership with Mubadala Energy are natural steps as we build on strong relationships in the region and capitalise on a host of compelling opportunities across the evolving energy ecosystem, for the benefit of all stakeholders. We are privileged to be part of the region's economic growth and transformation story – and to be able to contribute to the UAE's national energy strategy. We look forward to hosting our esteemed friends and partners at ADGM.' Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, said: 'We are pleased to sign this MOU which provides the framework for future collaboration following our recent U.S. partnership announcement. Kimmeridge shares our ambition for accelerated growth across the gas value chain, and as an international energy company we are excited to strengthen this collaboration by driving new, strategic opportunities.' Kimmeridge's team in the Middle East will be headed by Fayçal Benjelloun, Managing Director & Head of Middle East, who will also be acting as Senior Executive Officer. Benjelloun joins from Mubadala Capital, bringing extensive experience across the Middle East, Africa, and Asia, with a strong network and track record in business development and investor relations. Fayçal Benjelloun added: 'Our new ADGM office connects Kimmeridge's operations in the US and the Middle East, serving as a strategic hub to meet the growing regional demand for high-performing energy assets. Kimmeridge is at the forefront of both conventional energy and the energy transition—key priorities for regional investors and governments that are taking significant steps toward achieving their net zero targets.' Kimmeridge's newly established office will be based in ADGM's international financial center. The firm has received a category 4 license from the Financial Services Regulatory Authority (FSRA) of ADGM for its branch office in Abu Dhabi to advise and arrange transactions and investments. Arvind Ramamurthy, Chief of Market Development at ADGM, said: 'ADGM is pleased to welcome Kimmeridge to one of the world's largest international financial centres and the region's fastest-growing asset management hub. With robust regulations for alternative investment entities, a comprehensive ecosystem for asset management and a vibrant community based in the heart of the 'Capital of Capital,' Abu Dhabi, ADGM provides an ideal environment for Kimmeridge's regional expansion. We look forward to the offerings they will bring to their partners and investors in Abu Dhabi and the region.'
Trade Arabia
14-05-2025
- Business
- Trade Arabia
Kimmeridge opens in Abu Dhabi, partners with Mubadala
Kimmeridge, an alternative asset manager focusing on the energy sector, has opened an office in Abu Dhabi's ADGM, the international financial center. This move strengthens Kimmeridge's role as a gateway for energy investments between the US, UAE, and the region. The office will build on relationships with regional institutions and partners and host investment teams as Kimmeridge explores opportunities in the Middle East and Asia. Coinciding with the celebration in ADGM, Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, and Ben Dell, Managing Partner of Kimmeridge, signed a memorandum of understanding (MOU), paving the way for further collaboration on natural gas and LNG investments. The MOU follows the recent agreement to sell a minority stake in Kimmeridge's SoTex, to Mubadala Energy – marking the platform's first major investment in the US energy market. Benjamin Dell, Co-Founder and Managing Partner of Kimmeridge, said: 'The opening of our UAE office and expanding partnership with Mubadala Energy are natural steps as we build on strong relationships in the region and capitalise on a host of compelling opportunities across the evolving energy ecosystem, for the benefit of all stakeholders. We are privileged to be part of the region's economic growth and transformation story – and to be able to contribute to the UAE's national energy strategy. We look forward to hosting our esteemed friends and partners at ADGM.' Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, said: 'We are pleased to sign this MOU which provides the framework for future collaboration following our recent U.S. partnership announcement. Kimmeridge shares our ambition for accelerated growth across the gas value chain, and as an international energy company we are excited to strengthen this collaboration by driving new, strategic opportunities.' Kimmeridge's team in the Middle East will be headed by Fayçal Benjelloun, Managing Director & Head of Middle East, who will also be acting as Senior Executive Officer. Benjelloun joins from Mubadala Capital, bringing extensive experience across the Middle East, Africa, and Asia, with a strong network and track record in business development and investor relations. Fayçal Benjelloun added: 'Our new ADGM office connects Kimmeridge's operations in the US and the Middle East, serving as a strategic hub to meet the growing regional demand for high-performing energy assets. Kimmeridge is at the forefront of both conventional energy and the energy transition—key priorities for regional investors and governments that are taking significant steps toward achieving their net zero targets.' Kimmeridge's newly established office will be based in ADGM's international financial center. The firm has received a category 4 license from the Financial Services Regulatory Authority (FSRA) of ADGM for its branch office in Abu Dhabi to advise and arrange transactions and investments. Arvind Ramamurthy, Chief of Market Development at ADGM, said: 'ADGM is pleased to welcome Kimmeridge to one of the world's largest international financial centres and the region's fastest-growing asset management hub. With robust regulations for alternative investment entities, a comprehensive ecosystem for asset management and a vibrant community based in the heart of the 'Capital of Capital,' Abu Dhabi, ADGM provides an ideal environment for Kimmeridge's regional expansion. We look forward to the offerings they will bring to their partners and investors in Abu Dhabi and the region.'
