News Article | November 23, 2016
Unique high-tech textiles set trends for innovation in numerous application areas, and on November 24 and 25, about 650 materials experts from 27 countries will attend the Aachen-Dresden-Denkendorf International Textile Conference 2016 at the International Congress Center Dresden. These experts will be exchanging their newest research findings and applications. Key topics will be fiber composites, polymer materials, and the functionalization of textile structures for fiber composites, protective textiles, and the sector's current mega trends. The event will also focus on sustainability and recyclability. This year's partner countries are Austria and Switzerland; and the host city for this important European textile conference is Dresden, which is Germany's center for lightweight engineering and one of the leading German locations for new materials. "Concerning technical textiles, Germany holds the top position in Europe and world-wide with 13 billion Euro in annual sales," Chokri Cherif, Director of the Institute of Textile Machinery and High Performance Material Technology (ITM) at TU Dresden says. "We need to make use of this competitive advantage. The Aachen-Dresden-Denkendorf International Textile Conference, which we host with the German Centers for Technical Textiles Dresden, Aachen and Denkendorf, intensifies the exchange of technological expertise, experience, and unique ideas among companies, research institutes and universities."
News Article | November 28, 2016
Asking for help can be tough. It’s almost implicit we want something anytime we sidle up to a mentor’s desk or drop them a line, whether it’s something as simple as advice or as big as an introduction to our dream bosses. Talk about annoying. We want to be our mentors’ star pupils—not their biggest pests. So how exactly can we bend their ears without becoming an irritating burden? Read on. First, remember that most people become mentors because they want to give back, says Sharlyn Lauby, president of consulting firm ITM Group Inc., founder of HR Bartender, and author of Essential Meeting Blueprints for Managers. In other words, they expect you to come to them with questions and even requests for favors. "That being said, it’s very natural to feel a twinge of guilt when you have a relationship that’s all take and no give," says Lauby. And that’s why it’s smart to establish from the start that you want to give back to your mentor, too. "Ask your mentor, ‘What can I do for you?’ or ‘Is there some way I can give back to our relationship?'" Lauby suggests, and let his or her answer guide how you reciprocate his or her kindness. And then, keep these guidelines in mind any time you reach out to your mentor. Not everyone is at their best in the morning—just like some people prefer to cut off communication after a certain hour. If you can figure out when your mentor prefers to talk things through, you’ll significantly reduce the rate at which you annoy him or her whenever you reach out. "And if you can’t figure it out, ask them the question," Lauby says. "They will appreciate the respect you are giving to them and their time." If your career mentor prefers to answer questions on his or her own time, asking to Skype—rather than allowing him or her the chance to email responses—may not be your best move. "Understanding how your mentor likes to communicate—whether by phone, email, Skype, or another method—is critical," says Lauby. "Chances are good if you’re using their preferred method of communication, you’re not a bother. And vice versa." There’s a chance the guidance you seek is attached to a deadline. So when you reach out, ask up front if they will be available within the timeframe you’ll need an answer—don’t leave out your deadline, only to follow up a day (or an hour) later. "I’ll admit, sometimes mentors get busy and they aren’t able to live up to expectations," says Lauby. "So both parties need to be honest about their expectations from the start." Yes, your mentor is likely more than happy to help you. "But at some point," says Lauby, "you need to figure things out for yourself. So before you reach out to your mentor, ask yourself, ‘Is this one of those times when I need to make a decision and talk to my mentor later about what I did and how I came to that conclusion?'" And if the answer is yes, resist the urge to reach out this time around. Your mentor will appreciate you’re not taking advantage of him or her—and they’ll be proud to see you stand on your own two feet. Another pro tip? No one said you can only have one mentor. And if you have more than one, you can spread your queries among them, based on their own expertise, say Lauby, which gives you added insurance you’re not rubbing any one mentor the wrong way. "The downside is that you have to maintain multiple relationships in order for it to be successful," Lauby warns. "But it’s worth considering." This article originally appeared on Glassdoor and is reprinted with permission.
News Article | December 1, 2016
ITM Power (AIM: ITM), ein Unternehmen, das sich mit Energiespeicherung und sauberem Kraftstoff beschäftigt, freut sich bekanntzugeben, dass es im Rahmen des Konsortiums HyDeploy einen 0,5-MW-Elektrolyseur für ein Programm bereitstellen wird, das die Nutzung von gemischtem Wasserstoff im Erdgasnetz des Vereinigten Königreichs demonstrieren soll.Das Projekt im Wert von 6,8 Millionen GBP wird von Ofgem finanziert und unter der Leitung von National Grid durchgeführt. Es ist ein Schlüsselprojekt, das den Rahmen für Wasserstoff-Injektionen ins Gasnetz des Vereinigten Königreichs schaffen und dort einen neuen Strom-zu-Gas-Markt eröffnen soll. Laut National Grid wird "das dreijährige Projekt im Jahr 2017 beginnen und die Ergebnisse werden verwendet, um eine weitere öffentliche Testversion des Einsatzes von mit Wasserstoff vermischtem Erdgas im Netz des Vereinigten Königreichs mit der Absicht durchzuführen, im Anschluss die Verwendung dieser Wasserstoffmischungen bundesweit einzuführen." Das HyDeploy-Konsortium umfasst National Grid, Northern Gas Networks, die Keele University, das Health and Safety Laboratory (HSL), ITM Power und Progressive Energy. Es wird von den Gas-Experten KIWA Gastec und dem Maschinenbau-Unternehmen Otto Simon unterstützt. Dr. Graham Cooley, CEO von ITM Power, kommentierte: "Die Bereitstellung von Finanzierungsmitteln durch Ofgem für eine Demonstration der Verwendung von Wasserstoff im Erdgasnetz ist der erste Schritt hin zur Schaffung eines Strom-zu-Gas-Marktes im Vereinigten Königreich und wird eine wichtige Rolle bei der Dekarbonisierung des Gasnetzes in diesem Land spielen. Wir freuen uns, dass wir einen Beitrag dazu leisten können, der Öffentlichkeit die Struktur und die Vorteile dieses neuen Marktes darzulegen." Der folgende Text stammt aus einer heutigen Mitteilung von National Grid: 7 Millionen GBP für ein bahnbrechendes umweltfreundliches Heizprogramm an der Keele University Ein bahnbrechendes Pilotprojekt, das die Art und Weise verwandeln könnte, wie Großbritannien seine Häuser und Industriebetriebe beheizt, und gegen den Klimawandel ankämpft, hat heute (am 30. November) 7 Millionen GBP an Finanzierungsmitteln von Ofgem erhalten. National Grid Gas Distribution hat zusammen mit Northern Gas Networks und dem HyDeploy-Konsortium bei dem Wettbewerb "Network Innovation Competition" 6,8 Millionen GBP von Ofgem gewonnen. Die Mittel werden für eine zukunftsweisende umweltfreundliche Heizinitiative verwendet, bei der das Gasnetz der Keele University in Staffordshire genutzt wird. Das HyDeploy-Projekt will Wasserstoff in das bestehende Erdgasnetz injizieren. Wasserstoff ist ein sauberes, CO2-freies Gas, das nicht zum Klimawandel beiträgt. Es würde bis zu 20 % des Volumens des Gases im Netz ausmachen. Die Nutzer des Gases werden keinen Unterschied bei ihrer Versorgung bemerken, es werden keine Änderungen an den Gasgeräten nötig sein und es wird nicht weniger sicher sein als die Verwendung von Erdgas. Wenn das Projekt erfolgreich ist, wird danach Wasserstoff landesweit in den Gasnetzen mit Erdgas vermischt werden. Potenziell könnte das Projekt bis zum Jahr 2050 den Ausstoß von 120 Millionen Tonnen Kohlendioxid in die Atmosphäre verhindern. Das Projekt wird zu den hochgesteckten "Dekarbonisierungs"-Zielen der Regierung beitragen. Sie hat sich verpflichtet, bis zum Jahr 2050 Großbritanniens Kohlendioxid-Emissionen um 80 % gegenüber dem Stand im Jahr 1990 zu senken. Heizwärme ist für ein Drittel der Emissionen verantwortlich. Unter Nutzung des bestehenden erstklassigen Gasnetzes von Großbritannien könnte HyDeploy den Weg für ein sauberes, kohlenstoffarmes Gasnetz ebnen und die Häuser warm und die Stromversorgung der Industrie aufrecht erhalten. David Parkin, Director of Network Strategy bei National Grid Gas Distribution, sagte: "Ofgems Entscheidung, National Grid 6,8 Millionen GBP zur Verfügung zu stellen, erkennt die wichtige Rolle an, die Großbritanniens erstklassiges Gasnetz bei der Bereitstellung kohlenstoffarmer Wärme spielt. Wir glauben, dass die Einführung eines Wasserstoffgemisches auf nationaler Ebene das Potenzial besitzt, jährlich mehr als 6 Millionen Tonnen CO2 einzusparen." Professor Mark Ormerod, stellvertretender Vize-Kanzler und Propst der Keele University, kommentierte: "Energie und Nachhaltigkeit sind wichtige, übergreifende institutionelle Prioritäten für die Keele University und wir freuen uns, ein Partner bei diesem wichtigen und relevanten Projekt zu sein. Dieses Kollaborationsprojekt befasst sich mit einer der großen gesellschaftlichen Herausforderungen und hat das Potenzial, eine hohe Wirkung auf einen deutlichen Rückgang der CO2-Emissionen auszuüben." Martin Alderson, Asset Management Director von Northern Gas Networks, sagte dazu: "Dies ist eine enorm aufregende Zeit für die Energiewirtschaft. Wir glauben, dieses Projekt wird beweisen, dass Wasserstoff-Gas-Gemisch für die Versorgung genutzt und sicher und effizient in das bestehende Erdgasnetz eingeführt werden kann, was eine wesentliche Voraussetzung für den breiteren Einsatz von sauberem, kostengünstigem Wasserstoff im Erdgasnetz des Vereinigten Königreiches darstellt." Das dreijährige Pilotprojekt wird 2017 anlaufen. Die Mittel von Ofgem werden zusammen mit 760.000 GBP, die von National Grid und Northern Gas Networks beigesteuert wurden, dazu verwendet, um Wasserstoffproduktions- und Einspritzanlagen an der Keele University bereitzustellen und ein weitreichendes experimentelles Test- und Sicherheitsprogramm durchzuführen. Man betrachtete Keele als den perfekten Teststandort für das Projekt. Keele ist Großbritanniens größter Universitätscampus. Die Universität besitzt und bertreibt ihr eigenes Gasnetz, das vom staatlichen Gasnetz unabhängig ist. Mit mehr als 340 Wohn-, Unterrichts- und gewerblichen Gebäuden ähnelt der Campus sehr stark einer kleinen Stadt. Dieses Projekt wird auf einem Teil des Gasnetzes der Universität durchgeführt, das 17 Gebäude und mehr als 100 Wohnungen von Forschern und Mitarbeitern versorgt. Das Projekt wurde vom Konsortium von National Grid Gas Distribution, Northern Gas Networks und HyDeploy ins Leben gerufen. Zum Konsortium gehören die Keele University, The Health and Safety Laboratory (HSL), das Wasserstoffproduktionsunternehmen ITM Power und Progressive Energy, ein Unternehmen für saubere Energie. Es wird von den Gas-Experten KIWA Gastec und dem Maschinenbau-Unternehmen Otto Simon unterstützt. Weitere Informationen finden Sie unter: http://www.itm-power.com ITM Power produziert integrierte Wasserstoffenergielösungen, die auf schnellen Reaktionen und hohem Druck beruhen und die Anforderungen für Netzausgleich und Energiespeicherdienste erfüllen, sowie sauberen Kraftstoff für Transport, erneuerbare Wärme und Chemikalien. ITM Power plc wurde im Jahr 2004 auf dem AIM-Markt der Londoner Börse zugelassen. Das Unternehmen erhielt im März 2015 von JCB eine strategische Investition von 4,9 Millionen GBP. Das Unternehmen unterzeichnete im September 2015 eine Vereinbarung mit Shell in Bezug die Bereitstellung von Hydrogen Refuelling Stations (HRS) an ausgewählten Tankstellen. Die Gruppe hat zurzeit Projekte im Wert von 18,27 Millionen GBP unter Vertrag und weitere Verträge in Wert von 2,79 Millionen GBP befinden sich in der Endphase der Verhandlungen, was insgesamt vorbehaltlich Wechselkurs-Schwankungen eine Höhe von ungefähr 21,06 Millionen GBP darstellt. ITM Power ist ein Gründungsmitglied der Social Stock Exchange.
News Article | December 13, 2016
LONDON, December 13, 2016 /PRNewswire/ -- ITM Power (AIM: ITM) ein Unternehmen, das im Bereich Energiespeicherung und saubere Brennstoffe tätig ist, freut sich bekannt geben zu können, dass es auf der HANNOVER MESSE 2017 eine Reihe von Elektrolyseur-Großanlagen bis 100 MW vorstellen...
News Article | November 14, 2016
MAROUSSI, Greece, Nov. 14, 2016 (GLOBE NEWSWIRE) -- Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), an emerging growth pure play product tanker company, today announced unaudited results for the three and nine months ended September 30, 2016. Reported time charter equivalent revenues of $5.0 million for the three months ended September 30, 2016, which resulted in net loss of $1.5 million, or loss per share (basic and diluted) of $0.08, and EBITDA of $0.8 million (see "Non-GAAP Measures and Definitions" below). "Our third quarter 2016 results were directly related to the poor chartering market for our vessels. A continuation and deepening of the fall in spot charter rates since the second quarter of the year has negatively affected virtually all product tanker operators, including ourselves. The principal reasons are substantial new vessel deliveries, record high inventories in storage of refined products and limited opportunities for arbitrage trading. By the end of the quarter, we only had two of our six tankers on time charters. We are guardedly optimistic that charter rates will improve later in the fourth quarter, typically a stronger seasonal period due to colder weather in the Northern Hemisphere which results in increased demand for heating oil and longer wait times at numerous ports. As previously stated, we continue to believe the chartering environment should materially improve starting in the latter half of 2017 due to attractive market fundamentals - dramatically lower scheduled deliveries from the new build tankers orderbook combined with projected demand growth. Consequently, as the remaining time charters we have will be expiring in the last quarter of 2016, we intend to continue to focus on a mixed chartering strategy of spot and time charters." "We continue to be pleased about our disciplined cost structure. In the third quarter 2016, our total daily operational costs, which include vessel operating expenses, general and administrative costs and management fees, for our eco-efficient medium range tankers ("MRs") and our eco-modified MR were $7,434 and $8,009 per vessel, respectively, a modest improvement over the second quarter. Our net debt stood at $71.4 million at September 30, 2016, and we have no balloon loan principal payments until 2018. Our weighted average interest rate during the nine months ended September 30, 2016 was 3.24%." "As part of our strategic plan, Pyxis Tankers continues to be on the look-out for acquisitions. The long-term economics for the acquisition of a quality second-hand MR2 are even more attractive today with vessel prices substantially below 10 year averages. The challenge is funding - access to cost-effective capital, especially equity. " Results for the three months ended September 30, 2015 and 2016 For the three months ended September 30, 2016, we reported a net loss of $1.5 million, or $0.08 basic and diluted loss per share, compared to net income of $1.3 million, or $0.07 basic and diluted earnings per share, for the same period in 2015. For the third quarter of 2016, our EBITDA (see "Non-GAAP Measures and Definitions" below) was $0.8 million, a decrease of $2.5 million from $3.3 million for the same period in 2015. The decrease in net income was primarily due to a $2.4 million decrease in time charter equivalent revenues, coupled with a $0.1 million increase in general and administrative expenses. Results for the nine months ended September 30, 2015 and 2016 For the nine months ended September 30, 2016, we achieved net income of $19,000, or $0.00 basic and diluted earnings per share, compared to net income of $2.9 million, or $0.16 basic and diluted earnings per share, for the same period in 2015. For the first nine months of 2016, our EBITDA (see "Non-GAAP Measures and Definitions" below) was $6.6 million, a decrease of $2.4 million from $9.0 million for the same period in 2015. The decrease in net income was primarily due to a $1.7 million decrease in time charter equivalent revenues, coupled with a $1.0 million increase in general and administrative expenses. * Subject to rounding; please see "Non-GAAP Measures and Definitions" below. Management's Discussion and Analysis of Financial Results for the Three Months ended September 30, 2015 and 2016 (Amounts are presented in million U.S. dollars, rounded to the nearest one hundred thousand, except otherwise noted) Voyage revenues: Voyage revenues of $7.2 million for the three months ended September 30, 2016 represented a decrease of $1.0 million, or 12.6%, from $8.2 million over the comparable period in 2015. The decrease during the third quarter of 2016 was attributed to lower time charter equivalent rate as well as to a decrease in total operating days. Voyage related costs and commissions: Voyage related costs and commissions of $2.2 million for the three months ended September 30, 2016 represented an increase of $1.4 million, or 168.5%, from $0.8 million in the comparable period in 2015. The increase was primarily attributed to greater spot charter activity which incurs voyage costs. Vessel operating expenses: Vessel operating expenses of $3.2 million for the three months ended September 30, 2016 represented a decrease of $0.1 million, or 1.7%, from $3.3 million in the comparable period in 2015. The decrease was primarily attributed to our cost efficiencies from the two eco-efficient MR vessels. General and administrative expenses: General and administrative expenses of $0.6 million for the three months ended September 30, 2016 increased by $0.1 million, or 31.4%, from $0.4 million in the comparable period in 2015, mainly due to other additional fees and expenses associated with our status as a publicly listed company. Management fees, related parties: Management fees to related parties, our ship manager Pyxis Maritime Corp. ("Maritime"), of $0.2 million for the three months ended September 30, 2016 remained flat compared to the three month period ended September 30, 2015. Management fees, other: Management fees to others, comprised of fees paid to International Tanker Management Ltd. ("ITM"), our fleet's technical manager, and North Sea Tankers BV ("NST"), the commercial manager of Northsea Alpha, of $0.3 million for the three months ended September 30, 2016 remained relatively stable compared to the three month period ended September 30, 2015. Amortization of special survey costs: Amortization of special survey costs of $0.1 million for the three months ended September 30, 2016 remained relatively stable compared to the three month period ended September 30, 2015. Depreciation: Depreciation of $1.4 million for the three months ended September 30, 2016 remained flat compared to the three month period ended September 30, 2015. Interest and finance costs, net: Interest and finance costs, net for the three months ended September 30, 2016 amounted to $0.7 million, compared to $0.6 million in the comparable period in 2015, an increase of $0.1 million, or 26.0%. The increase is mainly attributed to the increase of the LIBOR-based interest rates applied to our outstanding debt. Management's Discussion and Analysis of Financial Results for the Nine Months ended September 30, 2015 and 2016 Voyage revenues: Voyage revenues of $23.5 million for the nine months ended September 30, 2016 represented a decrease of $1.3 million, or 5.1%, from $24.8 million over the comparable period in 2015. The decrease during the nine months ended September 30, 2016 was attributed to lower time charter equivalent rate as well as to a decrease in total operating days. Voyage related costs and commissions: Voyage related costs and commissions of $3.9 million for the nine months ended September 30, 2016 represented an increase of $0.5 million, or 13.1%, from $3.5 million in the comparable period in 2015. The increase was primarily attributed to greater spot charter activity which incurs voyage costs. Vessel operating expenses: Vessel operating expenses of $9.8 million for the nine months ended September 30, 2016 declined $0.3 million, or 2.8% from $10.1 million over the comparable period in 2015. This decrease was mainly attributed to the absence in the first nine months of 2016 of the one-time, pre-operating costs incurred by the new build Pyxis Epsilon, which was delivered to our fleet in January, 2015. General and administrative expenses: General and administrative expenses of $2.0 million for the nine months ended September 30, 2016 increased by $1.0 million, or 92.1%, from $1.0 million in the comparable period in 2015, mainly due to the additional administration fees payable to Maritime under the Head Management Agreement (which commenced effectively on March 23, 2015) of $0.4 million and other fees and expenses of $0.6 million associated with our status as a publicly listed company. Management fees, related parties: Management fees to Maritime of $0.5 million for the nine months ended September 30, 2016 remained relatively stable compared to the nine month period ended September 30, 2015. Management fees, other: Management fees to others, comprised of fees paid to ITM and NST of $0.8 million in the aggregate for the nine months ended September 30, 2016 remained relatively stable compared to the same period in 2015. In March and June 2016, we sent notices of termination of the commercial management agreements with NST for the Northsea Beta and Northsea Alpha, respectively. In June 2016, Maritime assumed full commercial management of the Northsea Beta, and it is expected to assume full commercial management of the Northsea Alpha in November 2016, following the vessel's redelivery. Amortization of special survey costs: Amortization of special survey costs of $0.2 million for the nine months ended September 30, 2016 increased by $0.1 million or 65.2%, compared to the same period in 2015, mainly due to the amortization of the special surveys performed by Northsea Alpha and Northsea Beta during the second quarter of 2015. Depreciation: Depreciation of $4.3 million for the nine months ended September 30, 2016 remained relatively stable compared to the same period in 2015. Interest and finance costs, net: Interest and finance costs, net for the nine months ended September 30, 2016 amounted to $2.1 million, compared to $1.8 million in the comparable period in 2015, an increase of $0.3 million, or 18.2%. The increase is mainly attributed to the increase of the LIBOR-based interest rates applied to our outstanding debt. Unaudited Interim Consolidated Statements of Comprehensive Income / (Loss) For the three months ended September 30, 2015 and 2016 (Expressed in thousands of U.S. dollars, except for share and per share data) Unaudited Interim Consolidated Statements of Comprehensive Income For the nine months ended September 30, 2015 and 2016 (Expressed in thousands of U.S. dollars, except for share and per share data) Consolidated Balance Sheets As of December 31, 2015 and September 30, 2016 (unaudited) (Expressed in thousands of U.S. dollars, except for share and per share data) Unaudited Interim Consolidated Statements of Cash Flow For the nine months ended September 30, 2015 and 2016 (Expressed in thousands of U.S. dollars, except for share and per share data) Pursuant to our loan agreements, as of September 30, 2016, we were required to maintain minimum liquidity of $5.0 million. Total Cash and cash equivalents, including restricted cash, aggregated to $6.0 million as of September 30, 2016. Total debt (in thousands of U.S. dollars), net of deferred financing costs: Our weighted average interest rate on all of our total debt for the nine months ended September 30, 2016 was 3.24%. In September 2016, we agreed with the lender of the Pyxis Delta to extend the maturity of the respective loan from May 2017 to September 2018, under the same amortization schedule and applicable margin. Following the repayment of the scheduled installment of $0.3 million in August 2016, the then outstanding balance of the respective loan of $8.8 million, will be repaid in eight quarterly installments of $0.3 million each, the first falling due in November 2016 and the last in August 2018, followed by a balloon payment of $6.1 million falling due in September 2018. In the fourth quarter of 2016, the Pyxis Delta will have a scheduled dry-docking for an estimated 14 days. On November 7, 2016, we held our 2016 Annual General Meeting of Shareholders pursuant to a Notice of Annual Meeting of Shareholders dated October 5, 2016. At the meeting, the following proposal, which is set forth in more detail in the Notice of Annual Meeting of Shareholders and our Proxy Statement sent to shareholders on or around October 5, 2016, was approved and adopted: the election of Mr. Aristides J. Pittas and Mr. Robert B. Ladd as our Class II Directors to serve until our 2019 Annual Meeting of Shareholders. Earnings before interest, taxes, depreciation and amortization ("EBITDA") represents the sum of net income, interest and finance costs, depreciation and amortization and, if any, income taxes during a period. EBITDA is not a recognized measurement under U.S. GAAP. EBITDA is presented in this press release as we believe that it provides investors with a means of evaluating and understanding how our management evaluates operating performance. This non-GAAP measure should not be considered in isolation from, as substitute for, or superior to financial measures prepared in accordance with U.S. GAAP. In addition, this non-GAAP measure does not have a standardized meaning, and is therefore, unlikely to be comparable to similar measures presented by other companies. Daily time charter equivalent ("TCE") is a standard shipping industry performance measure of the average daily revenue performance of a vessel on a per voyage basis. TCE is not calculated in accordance with U.S. GAAP. We utilize TCE because we believe it is a meaningful measure to compare period-to-period changes in our performance despite changes in the mix of charter types (i.e., spot charters, time charters and bareboat charters) under which our vessels may be employed between the periods. Our management also utilizes TCE to assist them in making decisions regarding employment of the vessels. We believe that our method of calculating TCE is consistent with industry standards and is determined by dividing voyage revenues after deducting voyage expenses, including commissions by operating days for the relevant period. Voyage expenses primarily consist of brokerage commissions, port, canal and fuel costs that are unique to a particular voyage, which would otherwise be paid by the charter under a time charter contract. Vessel operating expenses per day ("Opex") are our vessel operating expenses for a vessel, which consist primarily of crew wages and related costs, insurance, lube oils, communications, spares and consumables, tonnage taxes as well as repairs and maintenance, divided by the ownership days in the applicable period. We calculate fleet utilization by dividing the number of operating days during a period by the number of available days during the same period. The shipping industry uses fleet utilization to measure a company's efficiency in finding suitable employment for its vessels and minimizing the amount of days that its vessels are off-hire for reasons other than scheduled repairs or repairs under guarantee, vessel upgrades, special surveys and intermediate dry-dockings or vessel positioning. Operating days are the number of available days in a period, less the aggregate number of days that our vessels were off-hire or out of service due to any reason, including technical breakdowns and unforeseen circumstances. Available days are the number of ownership days in a period, less the aggregate number of days that our vessels were off-hire due to scheduled repairs or repairs under guarantee, vessel upgrades or special surveys and intermediate dry-dockings and the aggregate number of days that we spent positioning our vessels during the respective period for such repairs, upgrades and surveys. Ownership days are the total number of days in a period during which we owned each of the vessels in our fleet. When we refer to total daily operational costs as applied to our eco-modified and eco-efficient tankers, we define that as the sum of (1) daily Opex per vessel, (2) total general and administrative expenses in the period per day per vessel, and (3) the technical and commercial management fees in the period per day per vessel. We believe total daily operational costs for such vessels can provide a more complete picture of financial results for comparative purposes. We will host a conference call to discuss our results at 9:00 a.m. Eastern Time on November 14, 2016. Participants should dial into the call 10 minutes prior to the scheduled time using the following dial-in numbers: A live webcast of the conference call will be available through our website (http://www.pyxistankers.com). Webcast participants of the live conference call should register on the website approximately 10 minutes prior to the start of the webcast. An archived version of the webcast will be available on the website within approximately two hours of the completion of the call. We own a modern fleet of six tankers engaged in seaborne transportation of refined petroleum products and other bulk liquids. We are focused on growing our fleet of medium range product tankers, which provide operational flexibility and enhanced earnings potential due to their "eco" features and modifications. We are well positioned to opportunistically expand and maximize our fleet due to competitive cost structure, strong customer relationships, and experienced management team, whose interests are aligned with those of our shareholders. This press release includes "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These statements include statements about our plans, strategies, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "schedule, " "project, " "intend," "plan," "anticipate," "believe," "estimate," "potential," "outlook," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management team, are inherently uncertain. A more complete description of these risks and uncertainties can be found in our filings with the U.S. Securities and Exchange Commission, including in our Annual Report on Form 20-F for the year ended December 31, 2015 under the caption "Item 3. Key Information - D. Risk Factors". We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws.
News Article | December 1, 2016
LONDON, December 1, 2016 /PRNewswire/ -- ITM Power (AIM: ITM), ein Unternehmen, das sich mit Energiespeicherung und sauberem Kraftstoff beschäftigt, freut sich bekanntzugeben, dass es im Rahmen des Konsortiums HyDeploy einen 0,5-MW-Elektrolyseur für ein Programm bereitstellen wird,...
News Article | December 13, 2016
LONDRES, December 13, 2016 /PRNewswire/ -- ITM Power (AIM : ITM), entreprise de stockage d'énergie et de combustibles propres, est ravie d'annoncer qu'elle présentera une série de configurations d'électrolyseurs à grande échelle, jusqu'à 100 MW, lors du salon HANNOVER MESSE 2017. Elle...
News Article | November 30, 2016
LONDON, November 30, 2016 /PRNewswire/ -- ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that, as part of the HyDeploy consortium, it will be supplying a 0.5MW electrolyser to a programme to demonstrate the use of blended hydrogen in the UK gas...
News Article | December 16, 2016
MONTREAL, QUEBEC--(Marketwired - Dec. 16, 2016) - Intema Solutions Inc. ("Intema" or the "Corporation") (TSX VENTURE:ITM)(OTC:ITMZF) announces that it has completed a non-brokered private placement of 630,769 common shares of Intema (the "Shares") at a price of $0.065 per share for gross proceeds of approximately $41,000 (the "Private Placement"). The Private Placement forms part of a larger offering of a total of 1,538,462 common shares at a price of $0.065 per share for aggregate gross proceeds of approximately $100,000, the first tranche of which was completed on October 26, 2016. The proceeds of the Private Placement will be used for working capital purposes. The Shares are subject to a four-month and one day hold period and the Private Placement remains subject to the final acceptance of the TSX Venture Exchange. The Shares have not been nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit of U.S. persons, absent such registration or an exemption from registration. Intema Solutions Inc.'s mission is to integrate technologies to marketing. The company develops technologies for marketing and services related thereto. Its services are predictive marketing, relationship marketing and database marketing. Since 1994, INTEMA has dedicated its efforts to deliver key solutions to the marketing industry. Amongst its clients are companies of all sizes in North America. For more information, please visit our website at www.intema.ca Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined on policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Article | March 2, 2017
MONTREAL, QUEBEC--(Marketwired - March 2, 2017) - Intema Solutions Inc. ("Intema" or the "Corporation") (TSX VENTURE:ITM) has unveiled a completely new version of eFlyerMaker. This up-date of the software brings it above the standards of new evolving needs of email marketers. The new release has more features, is faster, more responsive and supportive of new online website software. Version 2 of eFlyerMaker has a number of features that were previously absent and brings the software up to unreached standards by competing applications. A new segmentation tool was added; behavioral segmentation allows marketers to be even more select on who received the emails sent through the app. It allows segments to be based on certain pre-defined activities by the subscribers automatically. Adding this segmentation tool to the already integrated MatcherAnalytics predictive functionality offers marketers the most advanced and modern marketing application for relevant and engaging communications with subscribers. Along with version 2 of eFlyerMaker comes a new form API for PrestaShop, one of the most popular online shopping cart software with a very strong community of users. Programmers consider PrestaShop as one of the best ecommerce software. eFlyerMaker now has a total of 200 different and distinct functionalities. Intema has also begun to develop a light version of the MatcherAnalytics tool. This version will lighten some of the heavy set-up elements in order to meet the needs of smaller businesses. Intema expects to be ready to distribute this light version in the third quarter of 2017. "This new release reaffirms our commitment to the online marketing community, the launch of which ensures we can continue to support marketers in the years to come" said Sebastien Plourde CIO, INTEMA. About INTEMA SOLUTIONS Inc. INTEMA's mission is to integrate technologies to marketing. The company develops technologies for marketing and services related to predictive marketing, relationship marketing and database marketing. Since its inception, INTEMA has dedicated its efforts to deliver key solutions to the marketing industry. For more information, please visit our corporate website at intema.com and our product websites eflyermaker.com and matcheranalytics.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined on policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.