Latest news with #LongBeach-based
Los Angeles Times
5 days ago
- Business
- Los Angeles Times
Rocket Lab Acquired Optical Systems Firm Geost for $330 Million
Long Beach-based Rocket Lab Corp. agreed to acquire Geost LLC from LightRidge Solutions for $330 million. The deal includes a cash consideration of $125 million and common equity of Rocket Lab valued at $150 million along with an earnout payment of $50 million tied to revenue targets. Geost is a Tucson, Arizona-based electro-optical and infrared payload development and manufacturing company that works with high-priority national security satellites. The acquisition adds optical systems as a new category within Rocket Lab's portfolio of capabilities. Following the transaction, the addition of Geost's 115 professionals will bring Rocket Lab's total headcount to more than 2,600 employees. 'With the acquisition of Geost, we're bringing advanced electro-optical and infrared payloads in-house to support secure, responsive and cost-effective systems at scale. These technologies enable spacecraft that can detect, interpret and respond to threats in real-time, enhancing our role as a trusted provider of end-to-end space capabilities for the United States and its allies – with greater speed, intelligence and operational control,' said Sir Peter Beck, chief executive of Rocket Lab, in a statement. The transaction is subject to regulatory approval and is expected to close in the second half of 2025. Baird acted as financial advisor for LightRidge Solutions. Gibson, Dunn & Crutcher LLP acted as legal advisor for LightRidge Solutions. Information for this article was sourced from Rocket Lab Corp.
Associated Press
28-05-2025
- Business
- Associated Press
Texas Industry Is Booming—But Its Emissions Crisis Is Catching Up
With enforcement accelerating and industrial growth outpacing infrastructure, Texas manufacturers face a make-or-break moment. DALLAS, TX, UNITED STATES, May 28, 2025 / / -- Texas is building an empire—but one that's now under inspection. In 2025, the Lone Star State surpassed every global economy but seven. With a GDP now larger than Russia, South Korea, and Brazil, Texas isn't just an American powerhouse—it's an industrial juggernaut. From petrochemicals and semiconductors to food packaging, plastics, coatings, and precision electronics, nearly every sector is expanding. Warehouse footprints are doubling, output is scaling, and entire industrial parks are rising seemingly overnight. But behind that success story is a mounting concern: emissions. The Texas Commission on Environmental Quality (TCEQ) has issued a clear warning. In 2024 alone, the agency conducted 10,500+ site investigations, issued a record number of NOEs and NOVs (notices of enforcement/violation), and committed to intensifying oversight in high-growth zones like Houston, Dallas-Fort Worth, and the Gulf Coast corridor. Air quality violations are on the rise across virtually every industrial sector, not just oil and gas. Facilities in semiconductors, coatings, EPS molding, solar manufacturing, printing, and flexographic packaging are all facing heightened scrutiny. Many still operate with legacy emissions systems that no longer meet today's regulatory thresholds for VOC and NOx destruction. With compliance deadlines fast approaching, recent guidance from both the EPA and TCEQ now emphasizes the need for 98%+ destruction efficiency, low-NOx output, and thermal uniformity to ensure full oxidation. Facilities that can't demonstrate this performance risk enforcement actions, delayed permits, or even operational shutdowns. This has become a critical inflection point as companies now face a stark choice: invest in scalable pollution control—or risk noncompliance notices, permit delays, shutdowns, and public backlash. While many are just now realizing the collision between growth and oversight, Ship & Shore Environmental (S&SE) a Long Beach-based engineering firm, has spent the past decade quietly installing high-efficiency VOC abatement systems across Texas's most emission-heavy sectors. 'We've been preparing for this exact moment,' said Anoosheh Oskouian, CEO of Ship & Shore Environmental. 'As enforcement accelerates, the companies we work with aren't panicking—they're ahead of the curve. Texas continues to prove that industrial growth and environmental responsibility go hand in hand. We are proud to work with forward-thinking companies across the state who are not only complying with regulations, but leading the charge in sustainable manufacturing and clean energy innovation. Our mission is to help them reduce emissions without compromising performance during this growth period for the Lone Star State. Ship & Shore's Regenerative Thermal Oxidizers (RTOs), customized capture systems, and emissions control retrofits are a few of the ways that S&SE are helping manufacturers stay ahead of compliance demands from TCEQ, the EPA, and local municipalities. Designed and built in America, these systems reduce VOCs and hazardous pollutants without sacrificing operational performance—qualifying many clients for energy efficiency incentives in the process. Some of these systems are already operating across key regions of Texas, delivering destruction efficiencies above 98%, flexible turndown ratios, and modular designs adaptable to facilities of all sizes. Beyond core industries, Ship & Shore also serves specialized operations such as barge degassing, biomass recovery, and food Industry—tailoring each system to local emissions permits, process constraints, and sustainability objectives. In an environment where outdated equipment is routinely flagged, several inspectors have described the presence of these systems as 'music to their ears.' 'Regulators want proof, not promises' added Oskouian 'and systems that deliver it are few and far between. That's why S&SE has proudly served for over 25 years as a catalyst—a partner bridging the gap between regulation and industry.' With both newly planned and operational systems already passing inspections across Texas they are poised and ready. While others brace for enforcement, S&SE's clients are running stable, compliant, and prepared—proof that with the right engineering, this moment doesn't have to be a crisis. It can be a turning point. About Ship & Shore Environmental, Inc. Ship & Shore Environmental, Inc. is a Long Beach, California-based, woman-owned business that has been solely owned and organically grown since its founding in 2000. For 25 years, the company has specialized in design, engineering, and fabrication of air pollution control systems for industrial manufacturers. S&SE delivers fully customized clean air solutions for industries such as flexographic printing, EPS molding, automotive, semiconductors, and more—helping clients meet stringent environmental regulations while improving operational efficiency. With complete in-house capabilities and a customer-focused, full-service approach that spans concept to compliance, S&SE is trusted worldwide for delivering sustainable, made-in-America technology. With leadership that serves on the South Coast AQMD BACT (Best Available Control Technology) Committee, S&SE offers unmatched regulatory insight and a higher level of environmental innovation. All solutions are engineered, built, and supported proudly in-house in the U.S.A. Learn more at Beatriz Arana EnergíaComm, Corp. [email protected] Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
25-04-2025
- Business
- Yahoo
Jetliner by California startup considering 10,000-job plant in Triad attracts United Airlines investment
The California startup that's considering the Triad as the site for building a jetliner it believes can revolutionize airline travel got a boost Thursday: United Airlines is investing an undisclosed amount that could lead it to order up to 100 airplanes and an option for 100 more. The Chicago-based big-three carrier said the conditional purchase agreement is based on JetZero achieving development milestones including flight of a full-scale demonstrator in 2027, and meeting United's requirement for safety, business and operations. Why should JetZero pick Piedmont Triad for new facility? It's the third major airline to announce involvement with Long Beach-based JetZero. Delta announced in March it's including JetZero in its Sustainable Skies Lab and is providing expertise to design interiors. Alaska Airlines announced an unspecified investment through its investment arm that includes options for new 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Los Angeles Times
10-04-2025
- Business
- Los Angeles Times
Energy company seeks to convert Huntington Beach oil and gas complex to large-scale oceanfront housing
A desirable stretch of oceanfront land in Huntington Beach could switch from an oil and gas production complex to housing, a hotel and more. Energy company California Resources Corp. (formerly Occidental Petroleum's California operations) has announced it has applied to rezone its 92-acre property, which runs from Goldenwest Street to Seapoint Street on the inland side of Pacific Coast Highway. C.R.C.'s proposal seeks to transform the 1.2-mile long site from industrial use into space featuring up to 800 residential units, a hotel and open space. 'The goal of this project is to shape the future of the property with the evolving needs of the local community,' said Bob Grundstrom, C.R.C.'s senior vice president of business development, in a statement. 'We recognize the importance of thoughtful growth and understand the community's concerns about high-density housing — and that's not what this is. By transitioning the property from an industrial site to a mixed-use community, we're not only creating housing and economic opportunities but also ensuring that this coastal asset serves residents and visitors for generations to come.' Nital Patel, C.R.C.'s external relations manager, said the company wants to build up to 800 residential units on about 53 acres of the property, or slightly more than half of it. They would be a mixture of single-family detached homes, townhouses and condos, with 10% complying with affordable housing policies. The space would also include up to 350 hotel rooms on approximately 16 acres, which would also feature retail and dining options. The remaining 23 acres would be open space, including a 1-mile linear park along PCH. C.R.C.'s application, submitted to the city on March 28, proposes to amend the city's Palm/Goldenwest specific plan, which currently designates 94% of the property for commercial uses. The Long Beach-based company's application also includes updates to Huntington Beach's general plan and local coastal program, since the property is in the coastal zone. The California Coastal Commission would have to approve any change of the local coastal program. The Huntington Beach Planning Commission and City Council also need to sign off on the rezoning. 'Following the required approvals, existing oil and gas facilities would be removed and the site would be restored for future development,' Patel said in an email. 'We will work closely with the city of Huntington Beach and other relevant agencies to ensure that all environmental and regulatory standards are met throughout the remediation and redevelopment process.' Patel added that development is not expected to begin for several years, and C.R.C. will continue to provide energy resources at the site in the meantime. The development news comes months after the previous council unanimously approved the Magnolia Tank Farm Project, which would also be on the site of a former oil pumping and storage facility in southeast Huntington Beach.
CBS News
09-04-2025
- Business
- CBS News
Heads of Foodbank of Southern California accused of misusing funds for personal financial gain
California officials sued the Foodbank of Southern California , alleging that the nonprofit and a dozen of its leaders misused state and federal funds for their own gain, including home renovations, a Tesla and a church billboard. The Long Beach-based food bank closed last October after the Department of Social Services investigated allegations against the nonprofit's former CEO, Jeanne Cooper. "The Foodbank of Southern California has fully investigated the allegations involving former CEO, Jeanne Cooper, both through internal and external investigations," current CEO Brian Weaver, who is also named in the lawsuit, said last October. "When these allegations were first brought to the attention of our board, we took them extremely seriously and immediately conducted an internal investigation, suspending Ms. Cooper pending the outcome." The Foodbank of Southern California, which opened in 1975, serves low-income neighborhoods across Los Angeles County, including Compton, San Pedro, Antelope Valley and North Long Beach. According to the nonprofit's website, it earned awards for its "sound fiscal management and commitment to accountability and transparency." However, for at least the last decade, the leaders of the nonprofit have diverted roughly $11 million of state and federal funds. "Unbeknownst to the Department, for at least the last decade, the Foodbank's officers, directors, and vendors worked together to divert millions of dollars of state and federal funds away from these most vulnerable communities, into their own pockets," state attorneys wrote in their complaint against the nonprofit. The lawsuit named 12 members of the Foodbank's board, including Cooper, Weaver, Alice "Sweet Alice" Harris and Michael Barrett. Cooper's spouse Lamarr Ramsey was also named as a defendant. However, he never worked for the nonprofit, according to the legal complaint.
