Latest news with #sustainablefuels
Reuters
5 days ago
- Business
- Reuters
New OMV chief executive could be found this year, chairman tells Reuters
VIENNA Aug 7 (Reuters) - The chairman of OMV ( opens new tab told Reuters he is eyeing the hiring of a new CEO this year, saying the new top executive would have to balance a push for growth at both its established oil and gas business and at new, more climate-friendly ventures. In a surprise move, CEO Alfred Stern decided in May not to stand for re-election after his term ends in August 2026. Stern led a push towards sustainable fuels, chemicals and recycling. "We are currently still at the very beginning of the recruiting process ... I really wouldn't rule out having a decision already by the end of the year," supervisory board chairman Lutz Feldmann said on Thursday. Growth in the oil and gas business remains an important pillar of OMV, he said. "But of course the chemicals business with all its facets is becoming increasingly important in our portfolio. The new CEO must also shape this," he added. Feldmann added the appointee would have to deal with the strong pressure to change that both OMV and the wider energy industry are under. "This must also be taken into account in the selection process," said the Chairman. ($1 = 0.8747 euros)
Khaleej Times
15-07-2025
- Business
- Khaleej Times
Charting the future of maritime excellence: The TMS awards and Middle East's maritime transformation
The maritime industry in the Middle East is undergoing a dynamic transformation, powered by smart port technologies, sustainable fuels, and digital innovation. Leading this shift is the UAE, with significant investments in LNG-powered vessels, AI-driven operations, and major port infrastructure projects strengthening its role in global trade. Recent market research shows that the Middle East & Africa maritime analytics market, valued at $34.68 million in 2023, is projected to reach $48.57 million by 2028, growing at a CAGR of 7.0 per cent. Amid this momentum, companies are seeking to connect, expand, and gain recognition. One standout platform that has enabled these ambitions is The Maritime Standard (TMS) Awards. Since its inception in 2014, these awards have emerged as a premier platform for celebrating excellence and innovation. Now in its second decade, the event continues to bring together global maritime leaders and innovators in Dubai, serving as a catalyst for collaboration and offering unique opportunities to engage with regional players and explore the advanced capabilities of the UAE, the wider GCC, and the Indian Subcontinent. What began as an event hosting just around 500 guests has grown significantly, with its 11th edition last year witnessing over 1200 attendees. A notable milestone in the Awards' history came in 2020 during the height of the COVID-19 pandemic, when the event was successfully hosted on an international scale. Despite global challenges, the event brought together various sectors, trades, and regions by collaborating closely with the authorities, including the Dubai World Trade Centre and the Dubai Department of Tourism and Commerce Marketing (DTCM), along with industry stakeholders. At a time when physical gatherings were nearly impossible, the Awards served as a vital platform for connection. With each passing year, the event has continued to raise the bar, and the upcoming 2025 edition - celebrated under the theme 'Arabia: Its Rich History and Culture' - is poised to set an even higher benchmark. Trevor Pereira, Managing Director of The Maritime Standard FZ LLC and Flagship Events LLC, highlighted the significance of these Awards in supporting the sector's growth and the steps that companies must take to stay competitive and aligned with future trends. He emphasised the importance of staying ahead both technologically and strategically as the maritime sector embraces a new wave of innovation and sustainability. 'Maritime companies must remain up to date with the technological developments in the environmental sector, not only in areas such as the transition to alternative fuels, but also in the increasing relevance of digital innovations such as artificial intelligence. Attending the TMS Awards provide a valuable opportunity for companies to witness firsthand the progress being made in these critical areas. Such exposure often informs and inspires organisations to pursue similar initiatives themselves. The Awards also offer companies a valuable platform to enhance brand awareness and showcase their achievements to a global audience,' he stated. Pereira added: 'For the 2025 edition, we expect to welcome approximately 1,200 leading industry executives, with delegations expected from across the GCC and the Indian Subcontinent, as well as from further afield, including Europe, Southeast Asia, and the Far East.' This year, TMS has introduced two new award categories. Recognising that digitalisation has become a key strategic priority for many companies in the maritime sector, and to underscore the importance of initiatives in this area, TMS will, for the first time, present 'The Digital Transformation Award.' Additionally, the second new category, 'Heavylift/ Project Cargo Company of the Year Award,' reflects the growing demand for specialised maritime services to support the delivery of major energy and infrastructure projects across the region. The Awards also include a range of categories, such as 'The Technology/ Innovations Award,' which recognises the critical role of research, development, and innovation, as well as others that focus on sustainability issues. Several awards have been dedicated to sustainable practices, which include 'The Environmental Protection Award,' 'The Green Shipping Award,' and 'The Sustainable Shipping Award,' that underscore the alignment of TMS with the blue economy goals of the UAE's wise leadership and reward those companies and individuals making exceptional contributions toward achieving these important national goals. 'The UAE's commitment to developing a sustainable blue economy, including advancements in maritime transport and renewable energy, is strongly reflected throughout the Awards, with nominees across all categories required to highlight their contributions to environmental protection and decarbonisation,' Trevor said. The TMS Awards have undertaken several initiatives to spotlight emerging talent and support the next generation of maritime industry leaders, including the introduction of categories such as the 'Maritime Education and Training Award.' They have also partnered with several vessel operators to facilitate cadetship opportunities for young individuals. A particularly impactful initiative involves inviting various regional colleges and institutions to nominate candidates for the 'Cadet of the Year,' which offers instant recognition as the top cadet, and the opportunity to be awarded a contract on stage. Delivered in collaboration with Kuwait Oil Tanker Company (KOTC), the initiative aims to encourage greater participation and promote excellence across the maritime sector. The Awards also feature the 'Young Person In Shipping' category, which recognises and celebrates emerging talent in the industry, and the 'Woman in Shipping Award,' which aims to address gender imbalance in the industry by acknowledging the outstanding contributions of a new generation of female leaders and encourage young women to pursue careers in shipping and maritime. While these awards provide strong recognition, Trevor highlights that participation in related industry events can further provide platforms for networking and delivering targeted content designed to help maritime companies remain competitive and stay abreast of ongoing technical and commercial trends. Notable among these are the TMS Tanker Conference, taking place on October 30 at the Atlantis, which will address key technical developments in tanker shipping; the TMS Transportation and Climate Change Conference, scheduled for September 25 at the Saadiyat Rotana Resort in Abu Dhabi, with a strong focus on new technologies enabling decarbonisation of transportation; the TMS Ship Finance and Trade Conference (SFTC), set for February 2026 in Dubai; and the TMS Golf Classic, held the day after SFTC. As the maritime sector continues to evolve at pace, The Maritime Standard Awards remain a vital platform for recognising excellence, fostering innovation, and promoting sustainability. Through its expanding range of categories, strategic partnerships, and commitment to nurturing future talent, the Awards not only celebrate past achievements but also help shape the industry's future. With the 2025 edition set to raise the bar even higher, TMS aims to continue driving progress across the regional and global maritime landscape.
Auto Car
03-07-2025
- Automotive
- Auto Car
Synthetic fuels will coexist with EVs, says solar fuel maker
'So it doesn't make sense to produce fuels; you should instead use it directly,' he said. " T hat I fully agree with. However, the point is you don't need to produce the fuels locally.' By instead using a solar plant in Morocco or a wind plant in Chile, Furler suggested, you could make use of electricity that would not otherwise have made it to mainland Europe to clean up transport. Moreover, Furler claimed, such a plant could produce three times more electricity per year than its equivalent in Europe. That means you could cleanly fuel thousands of ICE cars in Europe using that electricity, rather than zero EVs – because that power cannot be transported, whereas the liquid petrol can be. Synhelion has already partnered airline Lufthansa and Switzerland's importer for the Volkswagen Group, AMAG, to deploy its fuels in the real world. AMAG was the first to use the company's fuel to power a car, demonstrating it in a short-wheelbase Audi Quattro. But there remains a long road ahead until they are ready for the mass market, said Furler: 'Around 2030 to 2035, the different pathways are likely at a competitive scale, and can then be deployed rather quickly.' He cited scaling up as the biggest challenge, because of the cost involved, and said it could take until 2050 until it's on a comparable scale to the fossil fuel industry. There is also an issue with cost: Synhelion's fuels are currently 'five to 10 times more expensive' than fossil fuels and 'probably we will not achieve full parity". The argument could become more compelling if fossil fuels are taxed on their carbon impact (bringing their costs up closer to synthetics fuels), said Furler, and a barrel price of around €1 (86p) per litre would make it 'a viable solution'.
Yahoo
02-07-2025
- Business
- Yahoo
Univest Securities, LLC Congratulates Client Houston American Energy Corp. on its Latest Acquisition of Abundia Global Impact Group, LLC
New York, July 01, 2025 (GLOBE NEWSWIRE) -- Univest Securities, LLC ('Univest'), a member of FINRA and SIPC, and a full-service investment bank and securities broker-dealer firm based in New York, is pleased to congratulate its client, Houston American Energy Corp. ('HUSA') , on its recent acquisition of Abundia Global Impact Group, LLC ('AGIG'). The acquisition is positioned to create a leading company focused on converting waste plastics into high-value, drop-in low-carbon fuels and chemical products. Following the acquisition, AGIG will become a wholly-owned subsidiary of HUSA. The combined company will be led by Abundia's founder, Ed Gillespie, who will serve as Chief Executive Officer and will join the Board of Directors. The acquisition combines HUSA's public market platform with Abundia's proprietary pyrolysis technology, positioning HUSA to serve the growing global demand for sustainable fuels, Sustainable Aviation Fuel (SAF), and recycled chemical feedstocks. Univest has maintained a longstanding strategic partnership with HUSA, supporting HUSA's growth along its corporate journey. Since 2021, Univest has acted as the sole placement agent for HUSA in multiple capital markets transactions. Through registered direct offerings, private placements, and at-the-market offerings, Univest has successfully assisted HUSA in raising approximately $17 million. These efforts have provided essential capital to support HUSA's operational needs and strategic initiatives. This close collaboration reflects a strong alignment of vision and mutual commitment to long-term value creation, and paves the way for supporting HUSA continuously as it enters this exciting new chapter following its recent acquisition. About Univest Securities, LLC Registered with FINRA since 1994, Univest Securities, LLC provides a wide variety of financial services to its institutional and retail clients globally including brokerage and execution services, sales and trading, market making, investment banking and advisory, and wealth management. It strives to provide clients with value-add service and focuses on building long-term relationships with its clients. As a prominent name on Wall Street, Univest has successfully raised over $1.3 billion in capital for issuers across the globe since 2019 and has completed approximately 100 transactions spanning a wide array of investment banking services in various industries, including technology, life sciences, industrial, consumer goods, etc. For more information, please visit: About Houston American Energy Corp. Houston American Energy Corp. is a renewable energy company focused on converting waste materials into valuable low-carbon fuels and chemicals. Through its proprietary pyrolysis technology, the company addresses the global plastic waste crisis while supplying high-demand products like sustainable aviation fuel and recycled feedstocks to the energy and chemical industries. For more information, please visit: For more information, please contact: Univest Securities, LLCEdric GuoChief Executive Officer75 Rockefeller Plaza, Suite 18CNew York, NY 10019Phone: (212) 343-8888Email: info@ in to access your portfolio
BBC News
25-06-2025
- Business
- BBC News
Furnace fired up at £53m St Helens' sustainable glass factory
An experimental furnace that can make glass and other materials using lower carbon fuels has been fired up for the first time at a £54m research facility on technology developed by manufacturer Glass Future is being tested inside a building on James Roby Way, St Helens that was developed by the firm to carry out industrial trials. It is capable of producing up to 30 tonnes of glass per day, including flat sheets used for windows, as well as Kelly, CEO of Glass Futures Ltd said he hoped the centre would "become a beacon for decarbonisation in energy-intensive industries". The 165,000 sq ft (5,0292 sq m) site currently employs about 60 people, but the firm said there could be the potential for another 40 Kelly said he believed there was no other facility in the world that could produce the glass products using "such a wide range of sustainable fuel sources, including electric melting".Glass Futures is a not-for-profit company that has received funding from central Rotheram, Mayor of the Liverpool City Region, pressed the button to light the furnace said the launch showed St Helens was "again at the cutting edge of global innovation" after boasting nearly two centuries of industrial heritage. David Baines, MP for St Helens North, said it was "a milestone moment" for the borough, which had a 250-year history of glass research and Rimmer, MP for St Helens South and Whiston, described it as "a hugely exciting moment" for the town and a "huge step forward towards a sustainable future". Listen to the best of BBC Radio Merseyside on Sounds and follow BBC Merseyside on Facebook, X, and Instagram. You can also send story ideas via Whatsapp to 0808 100 2230.
