GE Gas Power Services Deal to Provide New Parts for Phu My 2.1 and 4 Combined-Cycle Plants, located in Phu My Power Generation Center;
Deal will help Improve Efficiency, Availability, Reliability and Reduce Operational Costs of the two Facilities
GE Steam Power Memorandum of Understanding (MoU) to support training of EVN GENCO 3 personnel, and co-operation for the submission of tenders for services related to steam turbine and generator equipment maintenance Dogness (DOGZ) news for Friday concerning a partnership with Huayuan Pet Products and Shanghai Chongai Trading have DOGZ stock on the rise. Dublin, Oct. 22, 2020 (GLOBE NEWSWIRE) — The “Snack Bars – Global Market Outlook (2019-2027)” report has been added to ResearchAndMarkets.com’s… Lone Wolf Technologies ("Lone Wolf"), the North American leader in residential real estate software, today announced that funds managed by Stone Point Capital LLC ("Stone Point") will become Lone Wolf's lead institutional investor, powering the next phase of the company's The Army turned to the Joint Artificial Intelligence Center and Defense Innovation Unit for help in reforming financial systems using artificial intelligence solutions.,
HANOI, VIETNAM; 23 October, 2020 — GE (NYSE: GE) today announced a new contract with Vietnamese state-owned power utility Power Generation Joint Stock Corporation 3 (EVN GENCO 3) to continue to supply parts and services for its Phu My 2.1 and 4 Power Plants. The two plants are located in the 3,900-megawatt (MW) Phu My Power Generation Center in the southern part of the country and provide approximately 10% of the country’s energy needs. The five year service agreement includes the provision of new and reconditioning parts, and on-site services for four GE GT13E2 gas turbines and STF-D200 combined cycle steam turbine units, helping to increase EVN GENCO 3’s power plants’ safe and reliable operations and efficiency.
The announcement was made at a contract ceremony attended by Mr. Dinh Quoc Lam, Chairman of the Board of Directors of Power Generation Corporation 3, Mr. Le Van Danh, General Director and Member of the Board of Directors of Power Generation Corporation 3; Mr. Pham Hong Son, CEO of GE Vietnam; Mr. Venkat Kannan, Regional President of Commercial, Asia, GE Gas Power; Mr. Ngo Son Hai, Deputy General Director of Vietnam Electricity; and Marie C. Damour, Consul General, U.S. Consulate in Ho Chi Minh City.
“As the largest power generation center in Vietnam, we have a responsibility to ensure continued operations and no down time of our facilities” says Mr. Dinh Quoc Lam, Chairman of the Board of Directors of Power Generation Corporation 3. “Being the OEM provider for our current fleet, choosing GE was the natural choice to help us utilize the full potential of our plant assets. We have benefitted from GE’s proven track record of providing high-quality technology and services. GE’s support has been exceptional throughout the COVID pandemic, and with this service agreement, we trust in the company’s ability to continue to support us in achieving our business goals.”
GE’s GT13E2 Gas Turbines have been powering the two plants since 1997. GE upgraded the units to MXL2s over several years since 2016, resulting in an increased output of approximately 6% (from 440MW to 465MW), and improved efficiency levels from 51.8% to 53.7%. Despite the COVID-19 pandemic, in July, GE executed and completed a complex outage at the Phu My 4 power plant safely and on-time. The outage was performed by EVN GENCO3 with remote support of GE Engineering and Technical Advisors, with an estimated savings of half million dollars of normal outage budget —and exceeded EVN GENCO 3’s expectations.
“Vietnam has achieved impressive progress towards rapid economic development in the past few decades built on the backdrop of increasing access to electricity to power its people and businesses,” says Pham Hong Son, CEO, GE Vietnam “We are honored to continue to provide with EVN GENCO 3 our safe, reliable, and in-region support, and ultimately help Vietnam achieve its energy goals for its national economic growth”.
GE’s GT13E2 gas turbine offers industry-leading efficiency. Its installed based of over 170 units operating in 35 countries cumulates over 14 million operating hours and generates 400 GW/h per day. The turbine capability to operate in extremes conditions (from -50°C to +55°C) and its high utilization rate of about 5,000 operating hours per units per year on average demonstrates the engine success and reliability. GE has performed over 500 C-Inspections and installed 39 MXL2 upgrade on 13E2 machines.
GE provides up to 27% of the Vietnam’s electricity needs, where there is an installed power generation capacity of about 55GW. GE currently has a fleet of 25 gas turbines and 7 steam turbines. We have over 2000 employees across six locations from various businesses, serving our customers in the country, with 11 power plants, and projects throughout Vietnam. GE’s customers from around the world are served by a global network of repair and manufacturing capabilities which include the Phu My repair facility as well as the Dung Quat HRSG manufacturing plant.
Dogness News: What Is DOGZ and Why Is the Chinese Pet Stock Soaring 57% Today?
Dogness (NASDAQ:DOGZ) news for Friday concerning a partnership with Huayuan Pet Products and Shanghai Chongai Trading have DOGZ stock on the rise.
According to a recent Dogness news release, the company’s Dogness Network Technology affiliate is teaming up with the other two companies. This will have the companies working together to expand their businesses.
Dogness notes that this partnership will have the companies combining “brand distribution channel, human capital and supply chain resources.” This should allow for the companies to maintain a leadership role in the Chinese pet market while increasing efficiencies.
Silong Chen, CEO of Dogness, said this about the news.
“China’s pet industry is rapidly expanding, and companies are seeking new ways to optimize efficiency and performance. We believe this partnership can contribute approximately $6 million in new domestic sales to Dogness during the first year and expand further in the ensuing years. Dogness is well-positioned and continues to develop intelligent technologies to create in-demand consumer products and services for pet lovers around the world. We believe this strategic partnership is an important development in the overall growth of our business.”
Dogness contribution to the partnership is its line of smart and traditional pet products. Huayuan Pet Products brings with it an online sales platform for pet products. Finally, Shanghai Chongai Trading offers its pet food and supply distribution abilities to the deal.
DOGZ stock was up 57.4% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Article printed from InvestorPlace Media, https://investorplace.com/2020/10/dogness-news-sends-dogz-stock-soaring/.
©2020 InvestorPlace Media, LLC
William White, InvestorPlace Writer
Global Snack Bars Market Outlook 2020-2027: Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and Recommendations
Dublin, Oct. 22, 2020 (GLOBE NEWSWIRE) — The “Snack Bars – Global Market Outlook (2019-2027)” report has been added to ResearchAndMarkets.com’s offering.
Global Snack bars Market accounted for $21.88 billion in 2019 and is expected to reach $42.34 billion by 2027, growing at a CAGR of 8.6% during the forecast period.
Increasing awareness about health and fitness and resultant predilection for healthy snack products are the major factors propelling market growth. However, high initial investments and marketing costs are restraining the growth of the market.
Snack bars are nourishing and high-calorie content which is frivolous and easy to carry well-liked snack food. The snack bars are often collective with corn or honey syrup and are condensed to form a bar that makes it easy to carry packed lunches, hiking, or other outdoor activities. Various prominent flavor components for plant-based snack bars include beet, spirulina, peanut butter, orange, brownie, and red berry.
Based on the distribution channel, the supermarkets/hypermarkets segment is likely to have a huge demand due to the growth of the organized retail sector; moreover, shelf spacing is growing which is likely to provide well-built visibility and accessibility of customer products. Attractive box packaging and discounts offered by these stores are also likely to contribute to the segment growth.
By geography, North America is estimated to have a lucrative growth due to the command for healthy foods. Snack and cereal bar manufacturers in the region are effectively gathering the increasing consumer demand for nutritious dietary snacks. Due to the high competition in the snack bars market in North America, manufacturers are launching variants of snack bars to differentiate their products in the market.
What the report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and Recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Key Topics Covered:
1 Executive Summary
3 Market Trend Analysis
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of COVID-19
4 Porters Five Forces Analysis
4.1 Bargaining Power of Suppliers
4.2 Bargaining Power of Buyers
4.3 Threat of Substitutes
4.4 Threat of New Entrants
4.5 Competitive Rivalry
5 Global Snack Bars Market, By Product
5.2 Breakfast Bars
5.3 Energy and Nutrition Bars
5.4 Fruit Bars
5.5 Cereal Bars
5.5.1 Granola/Muesli Bars
6 Global Snack Bars Market, By Type
6.2 Vegetarian Protein Bars
6.3 Gluten Free Protein Bars
7 Global Snack Bars Market, By Distribution Channel
7.2 Offline Distribution
7.2.1 Convenience Stores
7.2.3 Retail Stores
7.2.4 Department Store
7.2.5 E commerce
7.2.6 Specialty Stores
7.3 Online Distribution
8 Global Snack Bars Market, By Ingredients
8.2 Dried Fruits
8.4 Whole Grains
9 Global Snack Bars Market, By Sales Channel
9.3 Manufacturer/Distributor/Service Provider
10 Global Snack Bars Market, By Application
10.2 Adult Female
10.3 Adult Male
11 Global Snack Bars Market, By Geography
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launches
12.5 Other Key Strategies
13 Company Profiling
13.1 Associated British Foods
13.2 Cliff Bar and Company
13.3 General Mills
13.4 Halo Foods
13.5 KIND Snacks
13.6 Mars Inc.
13.7 Nestle SA
13.9 Post Holdings
13.10 The Kellogg Company
13.11 Nature Valley
13.12 Alpen and Jordan
13.13 Quaker Oats
13.14 Earnest Eats
13.15 Oriole Healthy Foods
For more information about this report visit https://www.researchandmarkets.com/r/y81zlp
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Author: Research and Markets
Lone Wolf announces strategic investment from Stone Point Capital to accelerate growth
Investment will further enhance innovation and expand offerings to market
CAMBRIDGE, ON, Oct. 23, 2020 /PRNewswire/ — Lone Wolf Technologies (“Lone Wolf”), the North American leader in residential real estate software, today announced that funds managed by Stone Point Capital LLC (“Stone Point”) will become Lone Wolf’s lead institutional investor, powering the next phase of the company’s growth. Stone Point was attracted to Lone Wolf because of the company’s reputation as a leader and innovator in the real estate services industry, its track record of growth, and its future prospects. The Lone Wolf management team will remain with the company to execute on its strategic roadmap and continue to create a seamless digital experience for real estate brokers and agents throughout North America. The deal marks an exit for leading global technology investor Vista Equity Partners, which first invested in Lone Wolf in 2015 in partnership with Lone Wolf’s founder, Lorne Wallace, and in 2016 made a follow-on investment in the business.
The real estate industry is undergoing digital transformation as legacy manual processes and disparate systems transition to fully connected digital experiences. These trends are further spurred by the COVID-19 pandemic, with real estate professionals requiring digital tools to provide first–class experiences for buyers and sellers. Lone Wolf leads the way, offering the industry’s only end-to-end digital experience through transaction management tools, Marketplace partnerships, and back office products.
This investment by Stone Point empowers Lone Wolf to continue transforming real estate technology by enabling the acceleration of innovation with a mission to simplify the real estate experience for all. Stone Point’s expertise in real estate services and technology will help Lone Wolf streamline the end-to-end experience for agents and brokers, enabling them to deliver unparalleled experiences to their clients and members. Stone Point will provide Lone Wolf with additional growth capital to accelerate organic and inorganic product development.
Over the past five years, Lone Wolf has significantly expanded its product portfolio beyond its flagship back office solution to encompass forms and transaction management through the national member benefits in the U.S. and Canada, Transactions (zipForm Edition) and CREA WEBForms®, respectively. The company has also incorporated new and emerging technologies such as artificial intelligence and machine learning with the launch of Lone Wolf Insights, while its most recent offering, Lone Wolf Marketplace, brings together over 30 partners to provide an all-in-one platform for agents and brokers. Collectively, these solutions now serve more than 1.4 million agents, 8,000 brokerages, and hundreds of MLSs and associations across North America.
“We’re excited to work with the team at Stone Point to continue our strategic growth,” said Jimmy Kelly, CEO of Lone Wolf. “Stone Point’s investment aligns with our vision to create a truly connected, fully digital real estate experience. We are thankful for the partnership and leadership of Vista Equity Partners over the last five years, and we remain committed to serving the real estate industry going forward.”
“We are enthusiastic about the long-term opportunities within the real estate services and technology industry,” added Chuck Davis, Stone Point’s CEO. “This industry is undergoing rapid digital transformation, and we are pleased to partner with Jimmy and his colleagues, who together have built a remarkable company and have demonstrated the vision to continue to grow and better serve their clients.”
Terms of the transaction will not be disclosed. Jefferies LLC and GCA Advisors, LLC served as financial advisors to Lone Wolf and Vista, and Kirkland & Ellis LLP served as their legal counsel. For Stone Point, Debevoise & Plimpton LLP served as legal counsel.
About Lone Wolf Technologies
Lone Wolf Technologies is the North American leader in residential real estate software, serving over 1.4 million real estate professionals across Canada and the U.S. With cloud solutions for agents, brokers, franchises, MLSs and associations alike, the company provides the entire real estate industry with the tools they need to amaze clients, build their business, and improve profits—from transactions to back office, insights, and more, all in one place. Lone Wolf’s head offices are in Cambridge, ON and Dallas, TX. For more information, please visit www.lwolf.com.
About Stone Point Capital LLC
Stone Point Capital is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed eight private equity funds – the Trident Funds – with aggregate committed capital of more than $26 billion. Stone Point targets investments in companies in the global financial services industry and related sectors. For more information, please visit www.stonepoint.com.
About Vista Equity Partners
Vista is a leading global investment firm with more than $58 billion in cumulative capital commitments. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, credit, public equity and permanent capital strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn @Vista Equity Partners.
For further information, please contact:
Lone Wolf Technologies
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SOURCE Lone Wolf Technologies
Army Financial Management Office Partners With DOD for AI Solutions
The Army has multiple enterprise financial management IT systems, some decades old, that account for the majority of the service’s financial, acquisition, and logistic transactions. These systems communicate transactions in a variety of ways through a complex architecture, but that communication is far from perfect. When a financial system communicates inconsistent or no data to another system, it creates a problem that requires human intervention.
“One of our consistent issues within Army financial management is caused by our large portfolio of legacy systems executing hundreds of thousands of transactions per week with one another,” said Jonathan Moak, who serves as Army’s principal deputy assistant secretary for financial management and comptroller within the Office of the Assistant Secretary of the Army, Financial Management and Comptroller (ASA (FM&C)). ”Incorrect information is often generated or reflected in a system during these constant transactions, which can create the issue called an unmatched transaction.”
The Army experienced somewhere between two and three million of these unmatched transactions (UMTs) in the 2019 fiscal year, driven by its multiple enterprise system, each built with different requirements. These UMTs, all of which need correcting, have included inaccurate data of obligations for financial payments and issues with the mismatching fields between a financial and logistics supply system.
“It’s a big problem…with a total value of several billion dollars,” said Moak. ”These mismatches lead to a general lack of accountability, funds control, and have a negative impact on buying power – all of which are critical to auditability.”
Before the Army can be deemed auditable, a majority of these UMTs must be resolved. Resolving just one UMT is a labor intensive process that can take multiple hours. Since there are currently millions of UMTs that need resolving, the problem cannot be solved by manual labor alone.
The Army is building the requirements to field a core enterprise system where UMTs are not created in the first place. In the interim, Moak said that a team led by Chase Levinson in ASA (FM&C) has implemented robotic process automation, or RPA, to help resolve UMTs as they occur.
RPA is an automation tool where RPA ”bots” follow the strict business rules given to them by developers. “RPA relies on conditional statements that say if you see this, then do this, which requires a well-defined process with very clear rules to fix a UMT,” said Levinson.
However, Levinson said that some UMTs do not always have a clear path to resolution, which means that when the RPA bot can’t resolve the UMT, humans still have to fix them manually.
According to Moak, continuing this process with UMTs is not an optimal use of manpower, which can be redirected to higher-level financial management operations and analysis by implementing a more effective solution.
”Our priority is to give the right tools to our workforce to accomplish the mission at the greatest level of efficiency,” said Moak.
To further add to its capabilities to solve the UMT problem within its financial management enterprise, the Army turned to the Joint Artificial Intelligence Center and the Defense Innovation Unit.
While the Army was already using robotic process automation as a partial solution, a new solution, driven by artificial intelligence, could be even better. A well-trained AI-driven solution would better be able to deal with the variety of nuances that crop up due to the large number of financial systems the Army uses and the wide variety of transactions that take place.
“The Army came to us with this issue, saying that they had tried to do some initial modeling to automatically resolve these errors without human intervention, but hadn’t been successful” said Rachael Martin, Mission Chief for Business Process Transformation at the Joint Artificial Intelligence Center.
Martin said the Army wanted to know if there was anything JAIC could do to help them not only build out a capability to help resolve problems with UMTs, but also have the capacity to do a better job in the future building predictive models and unburden human analysts from unnecessary work.
Martin said JAIC worked with the Defense Innovation Unit to identify existing best practices in the industry that might help the Army fix the problem with UMTs. She also said that at the same time, the Comptroller within the Office of the Secretary of Defense became interested in the effort, as OSD had problems similar to those of the Army.
“We were able to leverage the resources we allocated to support the Army to bring in a similar use case from Comptroller, and do some really innovative industry competition,” Martin said. “We awarded contracts to two different companies with different approaches to building a UMT model so that we could test both and find the most promising solution.”
It was DIU that put out a request for industry solutions. The DIU, with headquarters in Silicon Valley, maintains relationships with best-in-breed vendors focused on solving similar problems for commercial customers from across the country and can quickly bring the best of what’s happening in the commercial world to the Defense Department.
“When DIU put out requests for solution briefs, we received over 50 from commercial AI companies. And from there, they were down-selected through a couple of different rounds, and used demonstrations to help us down-select and interview them,” said Eric Dorsey, the government contractor who is the project manager on the DIU team. “It finally came down to two companies to award what’s called prototype contracts.”
Now, each of those companies has been assigned to work with either the Army or the OSD comptroller to find an AI-driven solution to solve problems like the Army has with UMTs, Dorsey said.
The two companies will have about six months to accomplish their work, Dorsey added.
“Using machine logic, which is more sophisticated than RPA — the goal is to solve up to 70% of these UMTs automatically and correct them,” Dorsey said. “The result is we could save millions of labor hours for the Army and the DOD each year.”
After six months of work, around mid-March 2021, both companies will have completed their work with the Army and the OSD comptroller and will have working prototypes. The Army and comptroller will then go into field trials and decide, ultimately, if they want to go into production with the product, Dorsey said.
“We’re hoping to take lessons learned with these efforts and scale to the other branches of the military — Navy, Air Force, Marines — to also help them solve some of their unmatched transaction problems in their accounting system,” he said.
While the work of the JAIC and DIU may eventually help multiple services and the OSD, Moak said bringing in AI assets for financial work is going to be a necessity for the Army going forward.
”Our collaboration with DIU and JAIC on this effort is a tremendous opportunity for Army financial management, and will hopefully inspire others,” said Moak. ”Applying these innovative tools now allows us to shift our focus to optimize our systems environment, and building a core enterprise system — a sustainable solution for improving financial operations.”
Author: BY C. Todd Lopez