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Day 1, ADIPEC 2024: Global ministers and CEOs call for accelerated innovation and collaboration to fast-track energy transformation

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ADIPEC 2024 kicks off in Abu Dhabi with a powerful message from Dr. Sultan Al Jaber, rallying the energy industry to lead the world to the next phase of sustainable socioeconomic growth.Opening Ministerial and CEO panels confront urgent energy transition challenges and commit to collective action for a secure, equitable, sustainable energy future.Day 1 highlights include discussions on the intersection of energy and AI, driving investment in new technologies and fostering cross-border partnerships that can accelerate innovation.

ABU DHABI, UAE, Nov. 4, 2024 /PRNewswire/ — ADIPEC 2024 opened today, marking 40 years of energy stewardship by uniting world leaders under the theme of “Connecting Minds. Transforming Energy.” 

His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, delivered the opening address and rallied the energy industry to lead the world to the next phase of sustainable socioeconomic growth. He called on the industry to capitalise on the opportunities of the global megatrends and said that harnessing the megatrends require unprecedented cross sectoral integration to accelerate sustainable growth.

“We stand at the dawn of a new era of hope and possibility, defined by three megatrends: first, the rise of the global south and emerging markets. Second, the transformation of energy systems, and third, the exponential growth of Artificial Intelligence. These three megatrends present mega opportunities that demand mega solutions. By 2050, 1.7 billion people will join our planet, mostly in the Global South. As a result, energy markets must shift and grow and energy systems must be transformed.”

Being held in Abu Dhabi from 4-7 November, ADIPEC 2024 is expected to gather over 184,000 attendees. More than 40 ministers and 200 global C-suite executives will be among the 1,800-plus speakers who will contribute to the 370-plus conference sessions.

These varied global perspectives will address key energy transition priorities, emphasising the need to embrace transformational solutions such as artificial intelligence to empower lives around the world and drive global sustainability and prosperity.

The event’s commitment to innovation and cross-border collaboration was further affirmed during ADIPEC’s first Ministerial Panel, titled ‘The new global leaders and the energy transition’, which addressed the role of policy and cross-border cooperation in shaping the energy transition and expanding access to groundbreaking climate technologies.

The session heard insights from His Excellency Suhail Mohamed Faraj Al Mazrouei, Minister of Energy and Infrastructure, United Arab Emirates; His Excellency Shri Hardeep S Puri, Minister of Petroleum and Natural Gas, India; Honourable Ruth Nankabirwa Ssentamu, Minister of Energy and Mineral Development, Republic of Uganda; and His Excellency Karim Badawi, Minister of Petroleum and Mineral Resources, Arab Republic of Egypt.

His Excellency Suhail Mohamed Faraj Al Mazrouei, Minister of Energy and Infrastructure, United Arab Emirates, said: “Our leaders in the UAE have always thought of the future, and we are committed to investing in more energy resources to ensure adequate supply. We are privileged to have leadership that cares about investment in energy, and our commitment to renewables, nuclear and conventional energy will continue.”

ADIPEC also featured insights from private sector leaders, as they explored the difficulties of balancing business priorities and rising energy consumption with the realities of climate change.

During a session titled ‘Meeting escalating global energy demand whilst transitioning to a low carbon energy system’, attendees heard from the energy industry’s top executives, including Murray Auchincloss, CEO, bp; Wael Sawan, CEO, Shell; Tengku Muhammad Taufik, President & Group CEO, PETRONAS; Claudio Descalzi, CEO, Eni; and Musabbeh Al Kaabi, Executive Director, Low Carbon Solutions & International Growth, ADNOC.

Wael Sawan, CEO, Shell, shared his company’s approach to the energy transition: “We fundamentally believe that the world needs much more energy, and specifically more diversified forms of energy. As a company, we must be very clear about where we can invest our capital. Decarbonising our existing assets is the first step, and the next step in this process is changing our operations.”

The world’s leading international energy organisations also made important contributions throughout day one, leveraging their unique experiences with global cooperation and energy diplomacy to outline the collective efforts required to accelerate wide-scale decarbonisation in every corner of the world.

Brian Sullivan, CEO, IPIECA, said “Our industry has the skills, expertise and experience to address the issues surrounding the energy transition, and we must bring together our drive to enhance the environmental and social performance of oil and gas, integrating energy transition with sustainable development.”

The new Finance and Investment Conference provided a platform for leaders from government, finance, and energy to discuss the disparity between capital flows and the investment necessary for a fair and equitable transition. This was summarised in a panel on “Bridging the gap: energy and financial cross-sector collaboration to advance new projects”, by Reinhard Florey, CFO, OMV:

“There are specific energy solutions for which we need capital. However, there is also an extended value system that we need capital support on. These extended networks, such as infrastructure, need to be built, and we encourage lenders to consider this opportunity. It takes a lot of specialist know-how to make the technology work, but it also takes the right infrastructure.”

AI remained a critical focus of ADIPEC 2024, as this year’s event featured the all-new AI Zone, where industry experts and business leaders showcased the technology’s power to revolutionise energy systems, enhance grid resilience and unlock new investment opportunities.

With AI set to play a critical role in our energy future, ADIPEC will serve a critical platform for accelerating investment and collaboration around this transformative solution, building on 40 years of fostering innovation and sustainable progress in the global energy transition.

About ADIPEC

Under the patronage of H.H. Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, and hosted by ADNOC in Abu Dhabi, UAE, on 4-7 November 2024, ADIPEC is the world’s largest energy conference and exhibition.

Building on 40 years of energy leadership, ADIPEC 2024 will enable innovation and accelerate action, exploring the intersection of energy and AI to drive the transition and deliver global impact.

The ADIPEC Conferences will comprise of 10 conferences and 370+ conference sessions, featuring 1,800+ speakers, including ministers, CEOs, academics, energy experts and youth. These diverse voices – united under this year’s theme “Connecting Minds. Transforming Energy.” – will be invited to consider how collaborative energy innovation can empower lives and drive global prosperity.

The ADIPEC Exhibition, spanning 16 halls, will feature 2,200+ exhibitors including 54 NOCs, IOCs, NECs and IECs, 30 country pavilions, and four specialised industry areas focused on decarbonisation, digitalisation, maritime and logistics, and AI. The exhibition will provide a platform for the energy world to demonstrate its game-changing solutions and forge the cross-sector partnerships needed to deliver secure, equitable and sustainable energy for all.

For more information, visit www.adipec.com  

For media content, visit: https://mega.nz/folder/QcJThQpZ#ZCy9amQdWooIr2sCi6slXQ

To register as media, visit https://www.adipec.com/press-media/media-registration/ 

About ADNOC 

ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximise the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification. To find out more, visit: www.adnoc.ae  

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River Associates Completes Third Platform Investment for 2024 with ID Label, Inc.

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CHATTANOOGA, Tenn., Nov. 22, 2024 /PRNewswire/ — River Associates Investments, L.P. (“River Associates”), a longstanding lower middle market private equity firm based in Chattanooga, TN, is pleased to announce the successful acquisition of ID Label, Inc. (“ID Label” or the “Company”). The transaction closed on November 15, 2024.

Founded in 1994 and based in Lake Villa, IL, ID Label is an industry-leading manufacturer of variable information barcode labels and warehouse signage for 3PLs and multi-site manufacturers. The Company provides design engineering, production, signage and nationwide installation services for warehousing, supply chain, manufacturing, electronics, calibration, medical, laboratory, lumber and library end markets. ID Label’s solutions are used by thousands of global organizations to keep businesses moving with efficiency, speed and accuracy.

“Throughout the process, River Associates consistently emerged as our top choice,” said Neil Johnston, Founder of ID Label. “I’m thrilled they saw ID Label’s value and growth potential. We will expand our capabilities and market reach, allowing us to better serve our customers. Most importantly, we will maintain our strong ID Label brand, preserving the quality and reputation we’ve built over the past 30 years.”

“We are excited to welcome ID Label to our portfolio,” said Ken Trent, Principal at River Associates. “ID Label is an excellent platform for River’s fund VIII. ID Label comes with a strong existing management team, an industry leading brand, and a pristine facility with ample capacity to achieve solid growth for the foreseeable future. We look forward to partnering with the management team and supporting the company as it continues to build on its impressive track record of success.”

River Associates funded the transaction with equity from its eighth investment fund (River VIII, L.P.). Blake Lewis and Ken Trent, Principals, led the process for River Associates. Mesirow Financial, Inc. served as the exclusive sell-side banker for the transaction. Financing was provided by NXT Capital. River Associates was advised by Holland & Knight, LLP. ID Label was advised by Kilpatrick Townsend & Stockton, LLP.

As with all platform company investments, River Associates and the ID Label management team will seek complementary strategic add-on acquisitions. For more information or to suggest potential add-on ideas, please reach out to Mark Jones.

About River Associates:

River Associates is a private equity firm based in Chattanooga, TN, which has focused exclusively on investing in the lower middle market for 35 years. Target businesses can be privately held, private equity-backed, or divestitures from larger companies. River Associates is opportunistic as to industry and has invested in numerous niche manufacturers, high margin distributors, industrial service providers and business service companies. River targets U.S. & Canadian companies, typically with EBITDA in the $3-12 million range. Since its founding in 1989, River Associates has completed more than 120 transactions. River is currently investing its eighth investment fund, which has $345 million of committed capital. For more information, visit www.riverassociates.com.

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SOURCE River Associates Investments

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Findings from IXPE Data Reveal Key Insights on Corona Around Black Holes

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WASHINGTON, Nov. 22, 2024 /PRNewswire/ — Groundbreaking research using data from NASA’s Imaging X-ray Polarimetry Explorer (IXPE) mission has revealed new insights into the shape and properties of a black hole’s corona, a key structure surrounding black holes. Led by Universities Space Research Association’s (USRA) postdoctoral researcher, Lynnie Saade, at USRA’s Science and Technology Institute, these findings were recently published in The Astrophysical Journal and represent a significant advance in our understanding of black hole environments. The work was conducted at NASA’s Marshall Space Flight Center in Huntsville, Alabama.

Many black holes are encircled by accretion disks —turbulent whirlpools of gas and debris, —and they also feature superheated coronas. These coronas are dynamic regions of plasma that are responsible for most X-ray emissions from black holes though scientists have only theoretical insights into their behavior. This latest discovery offers the first glimpse into the shape of these coronas, potentially deepening our understanding of how they help to generate the energy released when the black holes absorb materials.

“Scientists have long speculated on the makeup and geometry of the corona,” said Lynnie Saade. “Is it a sphere above and below the black hole, or an atmosphere generated by the accretion disk, or perhaps plasma located at the base of the jets?”

Results from the IXPE, which specializes in X-ray polarization, help map the shape and structure of coronas. IXPE observes X-rays, and studies objects that are not just small, but also very distant. X-ray polarization is needed “to determine the geometry of these objects which are too small and distant to image.”

According to Lynnie Saade, “IXPE provides the means to study the black hole’s accretion geometry, or the shape and structure of its accretion disk and related structures, including the corona.”

IXPE demonstrated that, among all black holes for which coronal properties could be directly measured via polarization, the corona was found to be extended in the same direction as the accretion disk – providing, for the first time, clues to the corona’s shape and clear evidence of its relationship to the accretion disk. The results rule out the possibility that the corona is a compact region above and below the black hole or at the base of a relativistic jet.

This research has significant implications. With the increasing availability of data on the shape of the corona, scientists can refine their models and develop a deeper understanding of its nature and behavior.

IXPE has not observed all black holes. This research has only studied 12 black holes, among them Cygnus X-1 and Cygnus X-3, stellar-mass binary black hole systems about 7,000 and 37,000 light-years from Earth, respectively, and LMC X-1 and LMC X-3, stellar-mass black holes in the Large Magellanic Cloud more than 165,000 light-years away.

Stellar mass black holes typically have a mass roughly 10 to 30 times that of Earth’s Sun, whereas supermassive black holes may have a mass that is millions to tens of billions of times larger. Despite these vast differences in scale, IXPE data suggests both types of black holes create accretion disks of similar geometry. Future research is needed to explore more black holes and advance our understanding of the corona.

About IXPE

IXPE, which continues to provide unprecedented data enabling groundbreaking discoveries about celestial objects across the universe, is a joint NASA and Italian Space Agency mission with partners and science collaborators in 12 countries. IXPE is led by Marshall Space Fight Center; Ball Aerospace, headquartered in Broomfield, Colorado, manages spacecraft operations together with the University of Colorado’s Laboratory for Atmospheric and Space Physics in Boulder. https://www.nasa.gov/ixpe

About USRA

Founded in 1969, under the auspices of the National Academy of Sciences at the request of the U.S. Government, the Universities Space Research Association (USRA) is a nonprofit corporation chartered to advance space-related science, technology, and engineering. USRA operates scientific institutes and facilities and conducts other major research and educational programs. An association of 121 university members, it engages the broader university community, employs in-house scientific talent, and offers innovative research, development, and project management expertise. More information about USRA is available at https://www.usra.edu.

Media Contact:
Suraiya Farukhi
sfarukhi@usra.edu
443-812-6945

 

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Tucker Hill’s Strategic Leap into Pest Control: A Blueprint for Growth

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What happens when two powerhouse leaders join forces to reshape an industry? The answer lies in the groundbreaking collaboration between Jeremy Prevost, CEO of Tucker Hill Air, Plumbing, and Electric, and Michael Leobold, Co-Founder of GreenWave Pest Solutions. Together, they have proved that achieving operational excellence and improving profitability can be more than just boardroom ambitions—it can be a reality. They have successfully built and sold one of the top pest control companies in the Southwest

LAS VEGAS, Nov. 22, 2024 /PRNewswire-PRWeb/ — What happens when two powerhouse leaders join forces to reshape an industry? The answer lies in the groundbreaking collaboration between Jeremy Prevost, CEO of Tucker Hill Air, Plumbing, and Electric, and Michael Leobold, Co-Founder of GreenWave Pest Solutions.

Together, they have proved that achieving operational excellence and improving profitability can be more than just boardroom ambitions—it can be a reality. They have successfully built and sold one of the top pest control companies in the Southwest. For investors curious about up-and-coming business models, Tucker Hill’s crossover is a case study in balancing agility, strategy, and execution to conquer industry challenges. Here’s how they did it—and what it means for your investment strategy.

The Industry Challenges Redefined Transitioning into a new vertical comes with its own set of challenges, and pest control is no exception. Despite its potential for scaling revenue, the industry constantly grapples with three major hurdles. Tucker Hill’s strategic moves address these head-on, offering key insights for investors. 1. High Lead Costs Marketing and generating quality leads in pest control can be prohibitively expensive, burning through capital for uncertain returns.

Tucker Hill’s approach was intentional and data-driven. By leveraging the trusted GreenWave Pest Solutions brand and aligning marketing efforts with pre-established segments, they minimized entry costs. Their innovative focus on improving close rates meant every marketing dollar worked harder. Result: Gross margin increased by 20%. Tucker Hill proved that controlling lead costs isn’t just about securing volume—it’s about enhancing quality through targeted strategies. 2. Skilled Labor vs. Unskilled Labor The pest control business demands a delicate mix of trained professionals and efficient teams. The ability to attract skilled staff is a challenge that plagues the industry (pun intended). Tucker Hill and GreenWave relied on strong operational frameworks to streamline training and integration.

The collaboration prioritized equipping the workforce with both technical expertise and customer-first service habits, breaking away from the typical low-bar training regiment seen in the sector. Insight for Investors: Teams aligned with clear expectations and KPI-focused training programs provide both scalability and a service quality edge—critical components for long-term growth. 3. Benchmarks and KPIs Every smart investor asks the same question—how do you measure success?

For Tucker Hill, the key to success lies in transparent and actionable KPIs. Together with GreenWave Pest Solutions, they developed key operational benchmarks, tracking everything from average revenue per customer to team efficiency. Actual Impact: EBITDA saw a remarkable 10% lift, a clear indicator that their targeted metrics weren’t just aspirational—they were actionable. Collaboration Shapes Success This strategic partnership wasn’t a matter of chance; it was the result of two strong leaders aligning their visions. Jeremy Prevost, known for his expertise in managing diversified services, worked seamlessly with Michael Leobold, leveraging his deep pest control experience. Their mutual respect and focus on execution ensured that Tucker Hill’s new pest control division hit the ground running. Investors take note—partnerships like these serve as valuable blueprints for successfully scaling in multi-service industries.

When leadership prioritizes collaboration, supported by aligned goals and expertise, growth is inevitable. What Can Investors Learn? Tucker Hill’s story isn’t just about expansion; it’s about rewriting the playbook in a competitive market. Their ability to tackle high lead costs, foster a skilled workforce, and develop actionable KPIs resulted in measurable success that should have every investor paying attention. High Numbers Speak for Themselves: A 20% increase in gross margin and 10% growth in EBITDA within such a short timeline signal operational excellence. Partnerships Drive Innovation: The blending of GreenWave’s pest control expertise with Tucker Hill’s operational efficiencies shows that collaboration isn’t just beneficial—it’s necessary. KPIs Matter: Investors should always look for companies that prioritize transparency and measurable success, and Tucker Hill demonstrates that well. Explore Our Playbook for Success The path Tucker Hill and GreenWave have paved isn’t just inspiring—it’s repeatable. Interested in learning how Tucker Hill overcame these challenges and achieved measurable growth? See the strategies behind this success up close. Discover Tucker Hill’s Approach Today

For investors curious about up-and-coming business models, Tucker Hill’s crossover is a case study in balancing agility, strategy, and execution to conquer industry challenges. Here’s how they did it—and what it means for your investment strategy.

The Industry Challenges Redefined

Transitioning into a new vertical comes with its own set of challenges, and pest control is no exception. Despite its potential for scaling revenue, the industry constantly grapples with three major hurdles. Tucker Hill’s strategic moves address these head-on, offering key insights for investors.

1. High Lead Costs

Marketing and generating quality leads in pest control can be prohibitively expensive, burning through capital for uncertain returns. Tucker Hill’s approach was intentional and data-driven. By leveraging the trusted GreenWave Pest Solutions brand and aligning marketing efforts with pre-established segments, they minimized entry costs. Their innovative focus on improving close rates meant every marketing dollar worked harder.

Result: Gross margin increased by 20%. Tucker Hill proved that controlling lead costs isn’t just about securing volume—it’s about enhancing quality through targeted strategies.

2. Skilled Labor vs. Unskilled Labor

The pest control business demands a delicate mix of trained professionals and efficient teams. The ability to attract skilled staff is a challenge that plagues the industry (pun intended). Tucker Hill and GreenWave relied on strong operational frameworks to streamline training and integration. The collaboration prioritized equipping the workforce with both technical expertise and customer-first service habits, breaking away from the typical low-bar training regiment seen in the sector.

Insight for Investors: Teams aligned with clear expectations and KPI-focused training programs provide both scalability and a service quality edge—critical components for long-term growth.

3. Benchmarks and KPIs

Every smart investor asks the same question—how do you measure success? For Tucker Hill, the key to success lies in transparent and actionable KPIs. Together with GreenWave Pest Solutions, they developed key operational benchmarks, tracking everything from average revenue per customer to team efficiency.

Actual Impact: EBITDA saw a remarkable 10% lift, a clear indicator that their targeted metrics weren’t just aspirational—they were actionable.

Collaboration Shapes Success

This strategic partnership wasn’t a matter of chance; it was the result of two strong leaders aligning their visions. Jeremy Prevost, known for his expertise in managing diversified services, worked seamlessly with Michael Leobold, leveraging his deep pest control experience. Their mutual respect and focus on execution ensured that Tucker Hill’s new pest control division hit the ground running.

Investors take note—partnerships like these serve as valuable blueprints for successfully scaling in multi-service industries. When leadership prioritizes collaboration, supported by aligned goals and expertise, growth is inevitable.

What Can Investors Learn?

Tucker Hill’s story isn’t just about expansion; it’s about rewriting the playbook in a competitive market. Their ability to tackle high lead costs, foster a skilled workforce, and develop actionable KPIs resulted in measurable success that should have every investor paying attention.

High Numbers Speak for Themselves: A 20% increase in gross margin and 10% growth in EBITDA within such a short timeline signal operational excellence.

Partnerships Drive Innovation: The blending of GreenWave’s pest control expertise with Tucker Hill’s operational efficiencies shows that collaboration isn’t just beneficial—it’s necessary.

KPIs Matter: Investors should always look for companies that prioritize transparency and measurable success, and Tucker Hill demonstrates that well.

Explore Our Playbook for Success

The path Tucker Hill and GreenWave have paved isn’t just inspiring—it’s repeatable. Interested in learning how Tucker Hill overcame these challenges and achieved measurable growth? See the strategies behind this success up close.

Discover Tucker Hill’s Approach Today

Media Contact

Ian Williams, Tucker Hill, 1 6027148046, jprevost@tuckerhillaz.com, tuckerhillaz.com 

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SOURCE Tucker Hill

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