Atlanta, GA, United States
Atlanta, GA, United States

Time filter

Source Type

News Article | November 4, 2016
Site: www.theenergycollective.com

In a new report, the Rocky Mountain Institute makes the stunning prediction that car ownership will peak by 2020. New ownership models and technological advances such as driverless cars will utterly transform the mobility market, concludes Fereidoon Sionshansi, president of Menlo Energy Economics and publisher of the newsletter EEnergy Informer. The big casualty will be oil companies, which are still in denial. Technological innovation and disruption are relentlessly eating into traditional businesses, offering similar or superior service at a fraction of the cost. Uber’s spectacular rise challenging traditional taxi monopolies, of course, is everyone’s first example. Airbnb and countless others are doing the same to other established industries. But Uber’s ultimate goal goes deeper than challenging taxi monopolies. It is about the future of mobility, especially in growing urban centers as described in 1 Oct 2016 issue of The Economist. The subject is Maas Global, a Finnish enterprise offering mobility-as-a-service or MaaS. The future of mobility, according to The Economist article will be in developing intermodal yet integrated business models that allows typical passengers to get from point A to point B with speed, convenience and a reasonable cost. It highlights 2 major trends, among many others: “The new approach to transport as a service relies on two interconnected trends. The first is the spread of smartphones, which both generate the data required to manage a system that combines a wide variety of public and private transport options, and allow firms to offer the information via an app. They have already made navigating a city by public transport much easier. “Intelligent” journey planners, which use live information about congestion, disruption from accidents and the like to suggest the best route, are proliferating. Around 70% of Londoners regularly use an app such as Transport for London’s journey planner. Live travel information shows whether trains and buses are running on time.” “The second is the rise of the “sharing economy”, with businesses such as Airbnb making it possible to rent fixed assets such as apartments when they are not being used. Young urbanites, who have become accustomed to usership instead of ownership, find the notion of transport as a service both natural and appealing. Meanwhile the cost of running a car in a city goes ever upwards. Parking gets harder. Many city-dwellers are questioning whether the convenience is worth it. Between 1983 and 2014 the share of Americans aged 20-24 with a driving license fell from 92% to 77%.” The Economist article adds, “ …. Car-sharing schemes, which offer most of the benefits of owning a car, but at much lower cost, are revving up. Some allow cars to be rented by the hour or even minute. Vehicles may have to be returned to the point of hire; or schemes may allow one-way trips between designated parking spots. Boston Consulting Group reckons that the 5.8m people now signed up to car-sharing schemes worldwide could grow to 35m in the next 5 years.” Moreover, it says, “The various permutations of carsharing, car-pooling and ridehailing pose a big threat to vehicle manufacturers’ sales. Some are rattled enough to get in on the act. The global car market is worth $2.3 trillion a year, of which Ford gets 6%, says Mark Fields, the firm’s boss. The market for transport services is $5.4 trillion a year, he estimates, of which it gets near to nothing.” Forget taxi monopolies; they are already history. These are among the reasons that will increasingly challenge the traditional business models of oil and auto companies. The latest to predict the doom of traditional auto companies is a report by the Rocky Mountain Institute (RMI), which predicts that car ownership will peak by 2020. One can argue about 2020, but the overall trends are probably hard to dispute. The reasons are by now familiar: urban dwellers who now outnumber rural ones, will increasingly rely on public transportation and/or hailing services such as those offered by Uber and its rivals. The rise of autonomous cars will only accelerate these trends, gradually shrinking demand for private cars, indeed car ownership, period. Why own one if you can get a ride from Uber any time you want by hailing a cab, with or without a driver? According to RMI – as always one needs to read the fine print and the assumption – by 2018 the average per passenger mile cost of travel on automated Transportation Network Companies (TNCs) will beat that of a personal internal combustion engine (ICE), in this case Toyota Camry, currently the bestselling car in the US market. Toyota executives take note. The key, according to RMI, is not the rapid rise of TNCs such as today’s Uber business model, but the automation of TNCs, the emergence of driverless or autonomous cars offering shared mobility using Uber-like hailing service. The reason should be self-evident once one examines figure 1. Without the cost of the driver, the automated TNC’s costs beats conventional car ownership. And that is in 2018. Fast forward to 2028 and beyond, and the impact of shared autonomous mobility begins to sink in. The RMI report has even more bad news for the oil majors. Their nemesis is electric vehicles (EVs), increasingly charged with essentially free renewable electricity due to the equally rapid rise of renewable generation in many markets. As illustrated in figure 2, by 2018, EVs will offer an estimated $1,000 per annum cost advantage over internal combustion engines (ICEs) powered by gasoline. Once again, these predictions are critically dependent on assumptions about the relative cost of operating EVs versus ICE, cost of electricity versus gasoline, range, performance and a host of other issues. With so much investment going into the next generation EVs expected in the market over the next 5-10 years, their costs are expected to decline while their range will be extended and their performance enhanced. That much is for sure. RMI reaches obvious conclusions by comparing the per-mile costs of EVs vs. traditional ICEs. The next generation of EVs – such as Tesla’s next model expected in 2017 and costing $35,000 – are projected to beat gasoline varieties on per-mile basis for someone driving 70,000 miles per annum starting around 2018 – give or take a little (figure 3). As time goes on, EVs are projected to gain on ICEs. Price of oil matters but probably not enough to change the outcome over time. The next few years, of course, will be critical for EVs depending on how fast the technology improves, how the range and performance of batteries increases and how fast the charging infrastructure advances. RMI examined 26 major US markets estimating huge potential, perhaps as much as $123 billion for early adaptors. It predicts rapid penetration rates for what it calls automated mobility services – such as driverless Uber – by 2024 among the same mass markets in the US under 2 scenarios (figure 7). Under a rapid growth scenario automated mobility service or AMS may exceed 10% of total US mobility service market share by 2024. If that is not an amazing prediction, what is? Comparing costs – and making assumptions that may or may not prevail – RMI shows a rather dramatic drop in the cost of automated mobility service, dropping by more than half by 2035 as illustrated in Figure 8. Forecasting anything for 2035 is a heroic undertaking given the rapid pace of technological change, yet RMI’s assumptions about the future may turn out to be an underestimate. Who knows? And how long will it take for EVs, AMS and TNCs to be adopted by the mass market? Clearly, the answer critically depends on the relative merits of the new technology vs. the existing one. It took 18 years for automobiles to reach 40% market share; only 10 years for smart phones. Automated mobility, according to RMI, will reach the 40% around 15 years. It is an educated guess. Many pundits think it will be faster. For those in the power sector who are salivating at the prospects of EVs giving them a boost in sales and revenues, there is good news indeed. US electricity sale projections by the Energy Information Administration (EIA), which are probably optimistic, show sluggish demand growth to 2040 (Figure 11). Add automated electric mobility and the prospects improve noticeably starting around 2025. Yet, it is not clear how much this will add to the industry’s revenues. The answer depends on multiples of factors and assumptions about how and when the EVs will be charged, what type of rates and tariff incentives will be on the offer, and – most important – how the increased demand will come be met, from renewable generation resources or conventional thermal plants. If one assumes a Teslaesque model, where EV owners may generate most of the juice from rooftop solar panels installed by SolarCity, perhaps with decentralized storage using Tesla’s Powerwall batteries, then the electricity sales experienced by traditional utilities may not increase much. One can, of course, arrive at alternative results based on alternative assumptions about how, when and where all the future EVs will be charged. The most stunning conclusion of the RMI study, however, is its prediction for peak car ownership, occurring as early as 2020 in the US (Figure 12). It says, “According to our modeling, peak car ownership in the United States will occur around 2020 and will drop quickly after that. This could lead to a clear delineation between winners and losers based on which auto companies capitalize on emerging business models for mobility services and which do not.” “In addition, the speed and complexity of this disruption could favor new entrants that are used to a rapidly changing consumer and technology landscape and fast turnover of product. New entrants also have lower risk of stranded assets that are already deployed (or planned) for a personal vehicle-centric market.” The RMI report ends with identifying further research needed to better understand the pace of change including the impact of AMS on cities, the impact on the electricity grid, consumer adaptation and behavior and the need for smart policy and regulations – all critical to the evolution of mobility especially in urban areas. As with many other projections, RMI is likely to miss the mark on multiple levels, yet there are few who would dismiss its overall conclusions, namely, Auto companies are taking note. Oil companies are, for the most part, still in denial. The traditional business model has been profitable and predictable for decades. Why abandon it now? This article was first published in the November 2016 edition of the highly recommended newsletter EEnergy Informer, published by US-based energy expert and author Fereidoon Sionshans. It is republished here with permission from the author.


News Article | October 29, 2015
Site: www.i-newswire.com

The food processing industry has performed better than the wider manufacturing sector in recent years and growth is forecast at between 3-4% in the short to medium term. Construction output in the sector is forecast to remain relatively buoyant with growth at a similar level of 3-5% over the next few years. The FDMP sector has recently seen increased capital investment levels, reflecting the growing optimism in the wider economy. The food processing industry has performed better than the wider manufacturing sector in recent years and growth is forecast at between 3-4% in the short to medium term. Construction output in the sector is forecast to remain relatively buoyant with growth at a similar level of 3-5% over the next few years. The FDMP sector has recently seen increased capital investment levels, reflecting the growing optimism in the wider economy. The food and drink manufacturing and processing industry (FDMP) is the single largest manufacturing sector in the UK, employing around 400,000 workers, and exports of food and drink products form an important proportion of UK trade. The value of UK food and non-alcoholic drink exports increased by over 6% in 2014, the 10th consecutive year of record growth. Exports of UK dairy are also at a record high. The market is polarised, with over 8,000 companies active in the FDMP sector across the UK, and over 85% of enterprises qualifying as small. However, the top 5 UK food companies account for over £30bn in terms of turnover, with the leading 20 food producers operating over 300 manufacturing and distribution sites across the UK. In total, there are over 9,500 manufacturing sites and factories in the UK FDMP sector, with the bakery, meat processing and dairy industry operating the largest number of processing sites and accounting for the highest turnover. FDMP activity varies across the UK, with Scotland, the North West and Yorkshire and Humber having the highest concentration of food processing activity. The industry is characterised by an ageing stock of manufacturing facilities and equipment, and new projects are mainly focused on upgrading existing assets to achieve greater efficiencies, leading to higher outputs and lower costs. Upgrading and fit-out work therefore accounts for around 80% of total output in the sector. Growing demand in certain sectors has driven capacity expansion, with significant projects in the dairy, beverage, meat and ready meals sectors recently completed or under development. However, with fewer new build factories now being built, there is more of an emphasis on regular maintenance of existing facilities ensuring that machinery and processing equipment is running efficiently. Going forward, construction output in the food processing sector is likely to remain relatively buoyant, mainly driven by RMI activity, however, the industry faces the ongoing challenges of rising costs, compliance and regulatory controls, EU legislation and political priorities. Therefore construction output is forecast to grow by between 3-5% over the next few years to reach a total of around £475m by 2019. “The impact of the recession and consolidation and rationalisation in the food industry has meant that food manufacturers have become more cautious about investing in new plants and facilities” said Keith Taylor, Director of AMA Research. “However, it seems the current focus is on refurbishment and modernisation projects aimed at improving production capacity and efficiency through initiatives such as automation and temporary processing“. Follow on twitter for Construction and Home Improvement Updates: @AMAResearch The ‘Construction Activity in the Food & Drink Manufacturing & Processing Industry Market Report - UK 2015-2019 Analysis’ report is published by AMA Research, a leading provider of market research and consultancy services within the construction and home improvement markets. The report is available now and can be ordered online at www.amaresearch.co.uk or by calling +44 1242 235724. If you would like to receive further information or wish to speak to an author of this report, please contact Anna Eriksson on +44 1242 235724 or email annaeriksson@amaresearch.co.uk. Please include our web address and telephone number on any review printed, and it would also be appreciated if a copy of the review could be forwarded to AMA Research. Thank you.


News Article | October 19, 2015
Site: www.i-newswire.com

Get your press release published on 7000+ News and Media Outlets. Your story is syndicated to a wide range of business, financial and news outlets to increase your presence online and in search. From our Basic Press Release to our Premium Distribution, you can select from a wide range of plans.


News Article | October 2, 2015
Site: www.businesswire.com

SEATTLE--(BUSINESS WIRE)--Alternative Nobel Prize. Keller Rohrback’s client, The Republic of the Marshall Islands (RMI), and its Foreign Minister, Tony deBrum, have been awarded the honorary 2015 Right Livelihood Award. The award was given specifically “in recognition of their vision and courage to take legal action against the nuclear powers for failing to honor their disarmament obligations under the Nuclear Non-Proliferation Treaty.” The Right Livelihood Award is presented annually in Stockholm at a ceremony in the Swedish Parliament. It was established in 1980 to honor and support those “offering practical and exemplary answers to the most urgent challenges facing us today,” and it has become widely known as the “Alternative Nobel Prize.” Keller Rohrback represents the RMI in the Nuclear Zero Lawsuit, which asks the Court to order the U.S. to fulfill its legal obligation under the Nuclear Non-Proliferation Treaty to negotiate in good faith to cease the nuclear arms race, and for nuclear disarmament. Upon hearing of the award, lead attorney Laurie Ashton said, “Minister deBrum has been tireless and fearless in his focused pursuit, on behalf of the Marshall Islands, of binding, legal solutions to the abject failure of the Nations possessing nuclear weapons to negotiate nuclear disarmament in good faith. It is a privilege to represent the Marshall Islands and work on this tremendous effort and I congratulate Minister deBrum, and the people of the Marshall Islands, on this well-deserved award.” Keller Rohrback L.L.P. is a law firm based in the United States that represents clients throughout the world. The firm has offices in Seattle, New York, Phoenix, and Santa Barbara, and is affiliated with independent law firms in Europe, South America, and Asia.


News Article | October 2, 2015
Site: www.businesswire.com

SEATTLE--(BUSINESS WIRE)--Alternative Nobel Prize. Keller Rohrback’s client, The Republic of the Marshall Islands (RMI), and its Foreign Minister, Tony deBrum, have been awarded the honorary 2015 Right Livelihood Award. The award was given specifically “in recognition of their vision and courage to take legal action against the nuclear powers for failing to honor their disarmament obligations under the Nuclear Non-Proliferation Treaty.” The Right Livelihood Award is presented annually in Stockholm at a ceremony in the Swedish Parliament. It was established in 1980 to honor and support those “offering practical and exemplary answers to the most urgent challenges facing us today,” and it has become widely known as the “Alternative Nobel Prize.” Keller Rohrback represents the RMI in the Nuclear Zero Lawsuit, which asks the Court to order the U.S. to fulfill its legal obligation under the Nuclear Non-Proliferation Treaty to negotiate in good faith to cease the nuclear arms race, and for nuclear disarmament. Upon hearing of the award, lead attorney Laurie Ashton said, “Minister deBrum has been tireless and fearless in his focused pursuit, on behalf of the Marshall Islands, of binding, legal solutions to the abject failure of the Nations possessing nuclear weapons to negotiate nuclear disarmament in good faith. It is a privilege to represent the Marshall Islands and work on this tremendous effort and I congratulate Minister deBrum, and the people of the Marshall Islands, on this well-deserved award.” Keller Rohrback L.L.P. is a law firm based in the United States that represents clients throughout the world. The firm has offices in Seattle, New York, Phoenix, and Santa Barbara, and is affiliated with independent law firms in Europe, South America, and Asia.


Today, Rocky Mountain Institute (RMI) and HOMER Energy released a report, The Economics of Load Defection, detailing where and when grid-connected solar-plus-battery systems could supply the majority of customers’ electricity needs that traditionally the grid would have supplied. As retail prices for grid electricity climb and costs for solar PV and batteries continue their decline, grid-connected solar-plus-battery systems present an increasingly cost-effective option for customers in the next 10–15 years in many geographies. The report, which was completed using HOMER’s software system, explains just how much electricity load and revenue loss utilities could face, including implications for utilities and regulators and possible paths forward. Compared to the off-grid solar-plus-battery systems modeled in RMI’s 2014 report The Economics of Grid Defection, the grid-connected systems modeled in this report are smaller and thus cost less, making them economic sooner for more customers in more places. As customers adopt the economically optimal configuration of these systems over time, the grid’s contribution to meeting customers’ electricity needs shrinks significantly, while solar PV rises to supply the majority for far lower costs. “These findings should be compelling for customers and technology providers,” said RMI Principal and report author James Mandel. “No matter how expensive retail electricity gets in the future, customers that invest in these grid-connected systems can contain their electricity costs at or below a ‘peak price,’ yielding significant savings on their monthly utility bill.” But for many utilities, this customer opportunity could have major implications. Even if only a fraction of customers adopt such systems, utilities could face lost kWh sales from central generation, potentially undermining revenue needed for ongoing grid investment and maintenance. For example, in the Northeast United States, by 2030 maximum residential and commercial load defection could total 140 million MWh and $35 billion per year. “This is not all risk,” explained RMI manager and report coauthor Leia Guccione. “Because these solar-plus-battery systems are grid-connected, they can offer value and services back to the grid. We need not see them only as a threat.” Solar-plus-battery systems will likely play a central role in the grid of the future. But exactly what role they’ll play has yet to be determined. The evolution of retail pricing structures, utility business models, and regulatory frameworks will largely guide that evolution and set the grid on one of two major possible trajectories. “Today’s electricity system is at a metaphorical fork in the road. Down one path are pricing structures, business models and regulatory environments that favor eventual grid defection,” said Jules Kortenhorst, CEO of Rocky Mountain Institute and Carbon War Room. “Down another road, those same factors are appropriately valued as part of a transactive grid with lower system-wide costs and the foundation of a reliable, resilient, affordable and low-carbon grid of the future in which customers are empowered with choice. That’s why RMI is focused on new utility business models, regulatory reform in places like New York, and accelerated adoption of rooftop solar and other DERs—so that the grid of the future can provide customers reliable, clean, affordable power for decades to come.” About Rocky Mountain Institute Since 1982, Rocky Mountain Institute has advanced market-based solutions that transform global energy use to create a clean, prosperous, and secure future. An independent, nonprofit think-and-do tank, RMI engages with businesses, communities, and institutions to accelerate and scale replicable solutions that drive the cost-effective shift from fossil fuels to efficiency and renewables. For more information, please contact media(at)rmi(dot)org About HOMER Energy HOMER Energy LLC is the global leader in the design and analysis of remote microgrids. The HOMER (Hybrid Optimization of Multiple Energy Resources) software has over 110,000 users worldwide. HOMER Energy provides the HOMER software, training, analytical services, and community market access tools to professionals in the energy industry who desire to analyze and optimize distributed power systems and systems that incorporate high penetrations of renewable energy sources. Visit http://homerenergy.com for more information.


DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/pw6htf/construction) has announced the addition of the "Construction activity in the Food & Drink Manufacturing & Processing Industry Market Report - UK 2015-2019 Analysis" report to their offering. Growth is forecast at between 3-4% in the short to medium term, and the sector is expected to reach an approximate value of £113.1bn in 2018-19. The food and drink manufacturing and processing industry (FDMP) is the single largest manufacturing sector in the UK, employing around 400,000 workers. The food processing industry has performed better than the wider manufacturing sector. Over 8,000 companies are active in the FDMP sector across the UK, with over 85% of enterprises qualifying as small (fewer than 50 employees). However, the top 5 UK food companies account for over £30bn in terms of turnover, with the top 20 food producers operating over 300 manufacturing and distribution sites across the UK. There are over 9,500 manufacturing sites and factories in the UK FDMP sector, with the bakery, meat processing and dairy industry operating the largest number of processing sites. FDMP activity varies across the UK, with Scotland, the North West and Yorkshire and Humber having the highest concentration of food processing activity. Over the last couple of years, the FDMP sector has seen increased capital investment levels, reflecting the growing optimism in the wider economy. The industry is characterised by an ageing stock of manufacturing facilities and equipment and new projects are mainly focused on upgrading existing assets to achieve greater efficiencies, leading to higher outputs and lower costs. Upgrading and fit-out work therefore accounts for around 80% of total output in the sector. Going forward construction output in the food processing sector is likely to remain relatively buoyant, mainly driven by RMI activity. As a result, we are forecasting growth rates in construction output of between 3-5% over the next few years to reach a total of around £475m by 2019. 5. Construction Capability and Supply in the FDMP Market


DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/678nt9/construction) has announced the addition of the "Construction Chemicals Market Report - UK 2015-2019 Analysis " report to their offering. This report focuses on end-products mainly used by sub-contractors and tradesmen but also includes concrete and mortar additives, which are used in both factory production but also the formulation of concrete and mortars on-site. The UK market for construction chemicals was estimated to have grown by 5% in 2014, although annual growth rates vary between product sub-sectors due to differing trends within key end user markets. Product sectors covered in this report include; adhesives; sealants, caulks & putties; fillers; concrete & mortar admixtures; protective coatings and resin flooring systems. Adhesives constitute the largest product group in this report. In recent years, growth in this sector has been driven by the recovery in the housing new build, also residential RMI and infrastructure applications. Product supply chains vary according to product types. Fillers, tile adhesives, mastic sealants and caulks are mainly distributed through DIY retailers and builders merchants. In these sectors, there is a high level of toll manufacturing, mainly for merchants and retailers own labels but also for other suppliers. Admixtures and protection chemicals are mostly supplied through specialist construction chemicals distributors while resin flooring systems are mostly supplied direct to approved installers. The key manufacturers and suppliers across this industry are mainly subsidiaries or divisions of trans-national chemical product manufacturers. Medium term growth prospects for the overall market appear steady but modest, particularly for products mostly supplied to the home improvement and trade sectors - e.g. adhesives, sealants and protective chemicals - for use on residential RMI and refurbishment. Factors which are likely to positively influence the overall market over the medium term future include improved levels of home improvement and new housebuilding activity as a result of economic recovery. In addition, growing optimism in the commercial office sector should lead to increased refurbishment and redecoration work. Continued improvement in the infrastructure sector will mean greater use of admixtures, sealants, protective coatings etc. for use in constructing buildings, bridges, sewers, tunnels etc. with road maintenance and parking infrastructure projects leading to higher demand for surface protection chemicals products for flat roofs, car park decking, concrete / metal structures, road surfaces, etc.


News Article | May 11, 2015
Site: www.businesswire.com

KAOHSIUNG, Taiwan & WEWAK, Papua New Guinea--(BUSINESS WIRE)--FCF Fishery Company (FCF) announced today that its first load of Marine Stewardship Council (MSC) certified skipjack tuna harvested from Pacific Island Nation (PNA) waters has been delivered to Papua New Guinea for processing. The sustainable harvest is a first for the region. The 290 metric tons of MSC-certified skipjack were harvested by FCF’s associated purse seiners and carried from Majuro, Republic of Marshall Islands (RMI) to be processed by Wewak-based South Seas Tuna Corporation (SSTC), an FCF subsidiary. According to FCF, SSTC plans to invest USD 3.5 million in capital expenditures to increase its production capacity to 160 MT per day. “FCF has been a fisheries leader in the PNA region for more than 30 years,” said FCF CEO Mr. WH Lee. “This investment advances our production and sustainable operations capabilities while adding up to 700 additional labor jobs in Wewak.” In January of this year, FCF made a public commitment to adhere to MSC sustainability standards while trading tuna harvested from PNA waters. Under the agreement, FCF ensures traceability and reporting of fish harvesting, transportation, and processing into semi-finished and finished products. Currently, more than 60 FCF-associated fishing vessels are MSC-certified. “SSTC is excited to start processing sustainable fish at our Papua New Guinea headquarters,” said SSTC president Mike McCulley. “This environmental approach and strategic partnerships with local leaders are not only a boost to the Wewak economy; these measures also help ensure a sustainable and plentiful fishery for the Pacific Island Nations for generations to come.” “As home to the world’s largest sustainable tuna purse seine fishery, we have been looking forward to this day for years,” said Commercial Manager of PNA Fisheries Maurice Brownjohn. “It is always a pleasure to partner with companies like FCF and SSTC, which harvest, process and market PNA fish in an environmentally conscious and ethical manner; as well as to see fish delivered by carrier to local plants and processed in the region.” About FCF Fishery Co., Ltd. Fong Chun Formosa Fishery Company, Ltd. (FCF) is one of the largest marine products trading companies globally with more than 40 years of experience in the trading and marketing of tuna products. FCF has established more than 30 subsidiaries, fishing bases and shipping agents throughout the world to handle the service needs of its customers. The company works closely with related governing and non-governing organizations to ensure environmental sustainability of marine life products. Learn more about the company’s commitment to safety and environmental sustainability at www.fcf.com.tw. South Seas Tuna Corporation (SSTC) is a state of the art tuna processing facility located in Papua New Guinea. It is joint venture of FCF Fishery Company of Taiwan, and Papua New Guinea interests. More at www.southseastuna.com.


News Article | May 12, 2015
Site: www.prweb.com

The remodeling industry experienced slow growth during the first quarter of 2015 due to sluggish existing home sales, continued labor shortages, and a severe winter. As a result, WarmlyYours Radiant Heating reports slow but steady growth so far this year. Yet, with a wide variety of electric radiant heating products, the company was able to capitalize on the severe winter and lack of remodeling projects. Consolidated gross sales of the company’s outdoor radiant heating products increased 30 percent during the first quarter as a result of the harsh winter weather. Made up of snow-melting systems and roof and deicing systems, the outdoor segment growth was led by roof and deicing systems, which increased nearly 350 percent during the quarter. “We expect our outdoor radiant heating systems to grow even more significantly during the second and third quarters, because these are the prime seasons for installing outdoor radiant heating solutions,” said WarmlyYours President and Owner Julia Billen. Another obstacle for the remodeling industry has been sluggish existing home sales, which leads to fewer remodeling projects, according to the Leading Indicator of Remodeling Activity (LIRA). The LIRA expects healthy gains in residential remodeling activity to decelerate in the first half of the year but gain traction again by the end of the year. On the other hand, in the National Association of the Remodeling Industry’s (NARI) first-quarter 2015 Remodeling Business Pulse (RBP) survey, the majority of contractors reported that their current business conditions are better than they were last year at this time. Similarly, the National Association of Home Builders (NAHB) reported a Remodeling Market Index (RMI) of 57 in the first quarter of 2015. An RMI above 50 indicates that more remodelers report that market activity is higher (compared with the prior quarter) than report it is lower. Whether remodeling projects are steady or declining, WarmlyYours benefited in the first quarter by offering a variety of home upgrades that don’t require significant remodeling. Third-party integration kits, which enable WarmlyYours floor-heating systems to work with smart thermostats like the Nest, increased more than 3,000 percent in sales compared with the prior-year period. Countertop heaters grew more than 500 percent; mirror defoggers grew more than 200 percent; radiant panels grew more than 60 percent; and towel warmers grew nearly 10 percent. These small upgrades allow homeowners to renovate their kitchens, bathrooms and other rooms of the house without breaking into the walls or floor. Next quarter, the majority of NARI remodelers expect to see an increase in remodeling projects. As a result, WarmlyYours anticipates growth across its entire portfolio. “As the number of remodeling projects increases, we expect sales of our electric floor-warming systems to meet or exceed that growth, supported by continued growth across the rest of our line of radiant heating solutions,” Billen said. To read WarmlyYours’ full first-quarter industry report, visit http://www.WarmlyYours.com. Hi-res images are available upon request. About WarmlyYours Radiant Heating For more than 15 years, WarmlyYours Radiant Heating has offered the industry’s most innovative solutions in radiant heating technology, from our flagship floor-heating systems and radiant wall panels to snow-melting systems, as well as comfort products, including towel warmers, mirror defoggers, shower floor and bench heating, and countertop heaters. With locations in the United States and Canada, WarmlyYours provides unrivaled personalized customer support from start to finish, featuring measuring and design services, 24/7 technical support, and our No Nonsense™ Warranty. For more information, visit http://www.WarmlyYours.com.

Loading RMI Inc collaborators
Loading RMI Inc collaborators