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Archive for September 16th, 2014

Mainstream Renewable Power Signs Deal to Build and Operate Ghana’s First Utility-scale Wind Farm

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DUBLIN  /PRNewswire/ — Global wind and solar company Mainstream Renewable Power today announces the signing of an agreement with Swiss wind farm developer NEK Umwelttechnik to purchase the 225 megawatt (MW) Ayitepa Wind Farm, located 40 kilometres from Accra on the east coast of Ghana. The project, which represents a total investment of USD525 million, is expected to reach financial close next year and start generating power early in 2016.

(Logo: http://photos.prnewswire.com/prnh/20130606/618541)

The companies will co-develop the wind farm until financial close. Mainstream will manage the construction as well as the operations and maintenance of the wind farm for its lifecycle. The project is currently in the latter stages of development with all major permits secured. Grid and offtake agreements are being finalised.

When fully operational the wind farm will generate approximately 10% of Ghana’s total electricity generation capacity which currently stands at 2,000MW.

Commenting on this initiative, Mr. Wisdom Ahiataku-Togobo, the Director of Renewable Energy at the Ministry of Energy and Petroleum, Ghana says: “It is my hope that this agreement between NEK and Mainstream will accelerate the process towards the realization of wind farms in Ghana and they can be assured of the full support of the Ministry of Energy & Petroleum. The project is consistent with government policy to increase the contribution of renewable energy in the electricity generation mix. The Renewable Energy Act 2011 (Act) provides the necessary legal and fiscal incentives including feed-in-tariff (sufficient security) to ensure return on investment by Independent Power Producers. The government has more than two years of bankable wind energy data along the south eastern corridor of the country where wind energy prospects are very encouraging. ”

Commenting on the deal, Mainstream’s Chief Executive, Eddie O’Connor said: “This wind farm is the ideal solution for Ghana because wind and solar power are the only proven technologies in the world which can achieve the dual objectives of speed of deployment and scale. The Ayitepa Wind Farm is well advanced and can be generating electricity in less than 18 months from now. No other generation technology can match that in terms of speed of deployment.”

He continued: “Mainstream has already developed and built the continent’s largest operating wind farm at Jeffreys Bay, South Africa where we have three operating wind and solar farms and an additional three wind farms going into construction this year.”

On signing the agreement, Dr. Christoph Kapp, NEK’s Chief Executive commented: “After more than fifteen years of presence in Ghana, NEK is very pleased to announce that with Mainstream Renewable Power we have found a very experienced and professional partner with whom we will implement this first large scale wind project in West Africa. This project will not only contribute to a sustainable, clean and independent production of electricity, but will also be accompanied by a lot of social benefits and improvements for the local population such as labour, better education, water supply and electrification for nearby villages and towns.”

Emmet Curley – +27-(0)21-657-4071 – emmet.curley@mainstreamrp.com

Source: Mainstream Renewable Power

Written by asiafreshnews

September 16, 2014 at 6:14 pm

Posted in Uncategorized

Far East Energy Welcomes Higher Chinese Gas Prices; Provides Updates on Production, Sales & Drilling; And Announces Further Extension to the SCB Loan Facility

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HOUSTON /PRNewswire/ — Far East Energy Corporation (OTCBB: FEEC), the U.S. listed company that operates the Shouyang Coalbed Methane (CBM) Production Sharing Contract (PSC) in Shanxi Province, People’s Republic of China, welcomes the recent announcement by the National Development and Reform Commission (NDRC) to raise city-gate gas prices by 20% for base volume non-residential customers.

China Raises City-gate Gas Prices

Effective September 1, 2014, city-gate natural gas prices for base volumes rose by RMB 0.4/cubic meter (equivalent to $1.83 per Mcf), or approximately 20%. These increases affect non-residential buyers only, such as industrial consumers and bulk buyers. In July 2013, the NDRC introduced a new pricing structure to bring its domestic natural gas prices closer to the cost of imports in order to not only encourage higher domestic output but to address pollution problems as well. A similar price hike of RMB 0.4/cubic meter announced in July of 2013 allowed the Company to successfully negotiate a 42% increase in the wellhead gas price received for its gas.

Far East Energy Corporation expects to enter into a new round of gas price negotiations before the end of 2014 at which time management would expect to secure another increase in gas prices for future gas sales.

Commenting, CEO Michael McElwrath said, “We welcome this increase because it should translate into significantly higher pricing for our gas. And we believe that gas prices in China will maintain their upward trend, hopefully providing an ongoing opportunity for significant annual enhancement to the price we receive at the wellhead. The Chinese government is committed to improving the environment, and supporting the use of more domestic gas is an integral part of their strategy. Even with this rise in gas pricing, gas prices remain significantly below those of competing fuels, such as fuel oil and diesel – both of which are far more polluting than cleaner burning natural gas, so there is ample room for the government to provide further increases in the coming years.”

Production, Sales and Drilling Update

Gas production from the Shouyang PSC remained consistent during July and August at roughly 1.92 million cubic feet per day, mirroring production rates seen in May and June after wells were shut-in for various reasons including Area B wells shut-in due to distance from the production area and certain Area A gel-frac wells shut-in because they were not tied in to the gathering system. However, partially as a result of production increases from gathered wells in the production area and also improved efficiencies across the summer, sales have increased from an average of 1.4 million cubic feet per day in May to 1.55 million cubic feet per day thus far in September. Drilling has also begun on the P8 replacement well with CUCBM, which committed to fund the drilling of a replacement well in the northeast portion of Area B pursuant to the terms of the April 26, 2012 Modification Agreement of the Shouyang PSC. Management worked with CUCBM on the design and planning of the P8 replacement well (designated FCC-SYE01), and the well has now been spudded with drilling underway.

Extension of Facility Maturity

The maturity date of the bridge facility with SCB has been extended to October 31, 2014, from the previous maturity date of September 15, 2014. Commenting, CFO Jennifer Whitley said “This added extension of the facility underlines SCB’s ongoing support as we further our discussions with various third parties.” The Company will advise shareholders as appropriate, as developments progress.

Far East Energy Corporation

Based in Houston, Texas, with offices in Beijing, China, Far East Energy Corporation is focused on coalbed methane exploration and development in China.

Statements contained in this press release that state the intentions, hopes, estimates, beliefs, anticipations, expectations or predictions of the future of Far East Energy Corporation and its management are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It is important to note that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, including that the amendment to the PSC may not be entered into or if entered into may not be on the same terms as originally agreed upon by the parties. Actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: the preliminary nature of well data, including permeability and gas content; there can be no assurance as to the volume of gas that is ultimately produced or sold from our wells; the fracture stimulation and drilling programs may not be successful in increasing gas volumes; due to limitations under Chinese law, we may have only limited rights to enforce the gas sales agreement between Shanxi Province Guoxin Energy Development Group Limited and China United Coalbed Methane Corporation, to which we are an express beneficiary; additional wells may not be drilled, or if drilled may not be timely; additional pipelines and gathering systems needed to transport our gas may not be constructed, or if constructed may not be timely, or their routes may differ from those anticipated; the pipeline and local distribution/compressed natural gas companies may decline to purchase or take our gas, or we may not be able to enforce our rights under definitive agreements with pipelines; conflicts with coal mining operations or coordination of our exploration and production activities with mining activities could adversely impact or add significant costs to our operations; our lack of operating history; limited and potentially inadequate management of our cash resources; risk and uncertainties associated with exploration, development and production of coalbed methane; our inability to extract or sell all or a substantial portion of our reserves and other resources; we may not satisfy requirements for listing our securities on a securities exchange; expropriation and other risks associated with foreign operations; disruptions in capital markets affecting fundraising; matters affecting the energy industry generally; lack of availability of oil and gas field goods and services; environmental risks; drilling and production risks; changes in laws or regulations affecting our operations, as well as other risks described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings with the Securities and Exchange Commission.

Source: Far East Energy Corporation

Written by asiafreshnews

September 16, 2014 at 6:06 pm

Posted in Uncategorized

Philips Showcases Ultrasound Innovations that Address Clinical Challenges in the OB/GYN Segment at ISUOG World Congress

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— Presenting a full suite of ultrasound solutions for women’s healthcare, Philips also announces a commitment to helping clinicians provide better prenatal care

ANDOVER, Mass. /PRNewswire/ — Royal Philips (NYSE: PHG AEX: PHIA) today announced that its growing range of advanced women’s healthcare imaging solutions will be showcased at the 24th annual International Society for Ultrasound in Obstetrics and Gynecology (ISUOG) World Congress, taking placeSeptember 14-17 in Barcelona, Spain.

“We’re continually investing in clinically relevant solutions that enable clinicians to improve efficiency and outcomes,” said Vitor Rocha, CEO and Senior Vice President of Ultrasound for Philips Imaging Systems. “In women’s healthcare, we’ve introduced six dedicated products over the past 18 months that help customers make confident diagnoses for their patients — from the most complex maternal fetal medicine exams to routine OB/GYN. And we’re not stopping there.”

At ISUOG, Philips will showcase its full women’s healthcare imaging portfolio at booth #31 beginning Sunday, September 14 at 17:20 and running through Wednesday, September 17 at 17:40. Highlights include:

  • Affiniti is designed to help address the challenges of the everyday OB/GYN clinical working environment. It offers exceptional clinical performance for a busy ultrasound practice, with advanced ergonomic design and small footprint to enable clinicians to work more intuitively and more comfortably.
  • EPIQ delivers a new level of clinical confidence, with solutions for every gestational age and gynecological applications for your most difficult cases. EPIQ’s powerful architecture creates high-quality image resolution, with more diagnostic detail than ever before. And it’s simple to use for every patient.
  • ClearVue 650 offers intuitive 3D/4D imaging and image quality automation tools, such as proprietary Auto Face Reveal, which make it easy for clinicians to integrate 3D/4D in their routine clinical practice. Due to its modular design and lightweight mobile cart, ClearVue 650 is easy to use, energy-efficient and cost-effective.
  • VISIQ combines the benefits of greater mobility, performance and simplicity into a single miniaturized solution. The transducer-plus-tablet display delivers excellent image quality, making ultrasound available anytime, in a wide range of clinical environments for OB patients.

In addition to showcasing the latest ultrasound solutions, Philips announced a commitment to include international standards for fetal growth on every OB/GYN ultrasound machine in its portfolio. The standards were established by the INTERGROWTH-21st Project, led by Oxford University researchers in collaboration with a consortium of more than 300 researchers and clinicians worldwide. This landmark study, which was recently published in The Lancet,involved a large cohort of healthy, well-nourished, pregnant women from eight geographically diverse populations who were at low risk of adverse maternal and perinatal outcomes. The fetal growth standards complement the existing WHO Child Growth Standards from 0 to 5 years of age and were developed using the same conceptual approach and methods. Philips is proud to have contributed to this work through providing Philips ultrasound systems and technical support.

Throughout the event, Philips and physician partners will also participate in a satellite symposium, live demonstrations and workshops focused on delivering ultrasound solutions designed to meet the demands of today’s healthcare world.

For more information on Philips presence at the ISUOG, please visit http://www.events.philips.com/ISUOG, follow the #ISUOG14 conversation @PhilipsHealth.

About Royal Philips:

Royal Philips (NYSE: PHG, AEX: PHIA) is a diversified health and well-being company, focused on improving people’s lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2013 sales of EUR 23.3 billion and employs approximately 113,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare. News from Philips is located at www.philips.com/newscenter.

Logo – http://photos.prnewswire.com/prnh/20140122/NE50581LOGO

Source: Royal Philips

Related stocks: Milan:PHIA NYSE:PHG

Written by asiafreshnews

September 16, 2014 at 6:02 pm

Posted in Uncategorized

Carlson Rezidor Appoints Sandy Russell as Vice President, Commercial Operations in Asia Pacific

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SINGAPORE, Sept. 16, 2014 /PRNewswire/ — Carlson Rezidor Hotel Group today announced the appointment of Sandy Russell as Vice President, Commercial Operations, Asia Pacific. She reports directly to Thorsten Kirschke, President, Asia Pacific and will be a member of the Asia Pacific Executive Committee. In her role, Sandy will be responsible for driving revenue generation strategies in the region, across the disciplines of global and regional sales, revenue optimization, branding and marketing.

“We are delighted to have Sandy Russell join us in Asia Pacific, overseeing our commercial strategy which will see a greater focus on property performance and profitability for our 97 hotels. She will be a great asset to the team, bringing a wealth of knowledge and expertise that will be invaluable as we move forward with our regional growth strategy,” said Thorsten Kirschke, president, Asia Pacific, Carlson Rezidor Hotel Group.

Sandy has 21 years of experience in hospitality, of which 14 years were with Carlson Rezidor in sales and marketing roles including Senior Director of Revenue Generation, Director of Global Key Accounts as well as Regional Director of Sales and Marketing. At Carlson Rezidor, Sandy founded and chaired the Canadian Revenue Generation Committee for five years. Following that, she initiated Carlson Rezidor’s global MICE advisory board. In recognition of her achievement, she was presented with the President’s Most Valuable Player of the Year Award in 2008 and the Innovation Award in 2007. She also received the Carlson Hotels Top National Sales Award in 2007.

Sandy studied Sales and Marketing at Seneca College in Toronto, Canada. She has also served on several philanthropic boards including The Canadian National Institute for the Blind, and is also a founding member of Be The Change, that provides rehabilitation for children sold into sexual slavery in Cambodia.

About Carlson Rezidor Hotel Group

Carlson Rezidor Hotel Group is one of the world’s largest and most dynamic hotel groups. The Carlson Rezidor portfolio includes more than 1,350 hotels in operation and under development with a footprint spanning over 105 countries and territories and a powerful set of global brands including Quorvus Collection, Radisson Blu®, Radisson®, Radisson Red, Park Plaza®, Park Inn® by Radisson and Country Inns & Suites By Carlson. In most hotels, guests can benefit from Club Carlson, one of the most rewarding loyalty programs in the world. Carlson Rezidor and its brands employ 88,000 people.

Carlson Rezidor Hotel Group is headquartered in Minneapolis, Minn., and Brussels, Belgium.

www.carlsonrezidor.com

Contact details

Tracy Lui, Carlson Rezidor Hotel Group I +65 9839 4095 I tlui@carlsonrezidor.com

Ben Gardeen, Carlson Rezidor Hotel Group | +1 (763) 212-1418 or +1 (763) 212-8129 |bgardeen@carlsonrezidor.com

Logo – http://photos.prnasia.com/prnh/20140508/8521402636LOGO

Source: Carlson Rezidor Hotel Group

Written by asiafreshnews

September 16, 2014 at 3:56 pm

Posted in All releases, Travel

Run Your Own Social Platform with App Blastout’s New Service

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SINGAPORE, Sept. 16, 2014 /PRNewswire/ — Social App BlastOut (http://www.blastout.com/), developed by Singaporeans Daniel Chia and Cynthia Siantar, will soon empower users to create their very own exclusive social network for their private events with the launch of their new freemium web service.

“We want to extend the privilege of creating a temporary social network to everyone; not just for large scale event organisers, but for our users’ private events as well. This will add an additional dimension to their events, allowing them to do more by merging their virtual and real life social interactions, and bringing the experience of their events to the next level,” said Daniel Chia, Co-Founder of BlastOut.

The app attracted S$200,000 in angel funding and both investors and founders believe that the app will change the way we interact with each other.

Empowering Users with the Freemium Web Service

BlastOut allows event organisers to create in-app content, enabling them to focus on reaching out to people around their location. Users can be engaged through time-sensitive special deals, customized brand messages and the app’s commenting system and plug-in support.

With the launch of the freemium service, users themselves can create their very own exclusive temporary social network to enhance their private gatherings. They can include event albums and other interactive content like stock games, chats and polls to add a dimension of fun and interactivity to the party, or connect the guests through a shared experience.

The app has been very well received by the public for its exclusivity and the temporal nature of the content, as well as the fact that it makes social media more social by encouraging real people to interact in real life.

Its geolocation feature means that users have to be physically present at the venue in order to access the exclusive content posted on BlastOut. Users will receive alerts to the presence of content on BlastOut when they get close to the venue, and check out fun and interesting things that others shared.

Success in the local market

Since its inception, BlastOut has several high-profile tie-ups and partnerships with major brand names inSingapore, working closely with Cathay, *SCAPE, SMU, Lunafly Fanmeet and party organizer Blackwhite Productions for events in venues like Butter Factory and Azzura Beach Club. The partnerships were hugely successful, with high levels of social engagement within the app and the ability to increase sales at some establishments by as much as 12.5%.

BlastOut has also recently partnered with local celebrity Keagan Kang to use BlastOut in his F&B establishment, The Papa Shop. The partnership will see The Papa Shop adding a depth of interactivity with their customers through special offers and interesting content, and the team has launched Papa Gives Back, a special monthly initiative to connect professionals together.

Going Global

BlastOut has recently hosted their first London event, a summer ball for the Imperial College of London’s Royal College of Science Union (RCSU), with over 400 attendees. They are also working with top varsities in the US to launch their service there.

With the hosting of the London event and the upcoming US campaign, Cynthia sees the app gaining popularity across the globe. “We really are a global platform, and with the freemium service, BlastOut is now in the hands of people all over the world. We believe that our successes in London and Singapore are just the beginning.”

For media enquiries:

Wesley Gunter
Right Hook Communications Pte Ltd
t: +65 9679 8574
e: wesley@righthook.com.sg

Daniel Chia
BlastOut
t: +65 9879 3832
e: daniel.chia@blastout.com

About BlastOut

BlastOut is your geo-located, temporary Social Network that lets you start real conversations with relevant people around you. Posts on BlastOut only last for a limited time before they disappear, so exchange contacts to stay in touch with the people you meet.

Visit www.blastout.com to download the app or download it from the Apple App Store or Google Play Store.

Source: BlastOut

Written by asiafreshnews

September 16, 2014 at 3:52 pm

Posted in Uncategorized