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Sandvik to acquire premium solid round tools company Chuzhou Yongpu Carbide Tools Co., Ltd

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SANDVIKEN, Sweden, July 28, 2021 /PRNewswire/ — Sandvik has signed an agreement to acquire 67% of Chuzhou Yongpu Carbide Tools Co., Ltd, a China based premium solid round tools company, with a call option to buy the remaining part in three years’ time. Chuzhou Yongpu Carbide Tools Co., Ltd is mainly focused on global and local OEMs and connected suppliers operating in China. Its capabilities include the full solid round tools manufacturing value chain with an offer covering blanks, cutting tools, reconditioning and coating services. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.

“The acquisition of Chuzhou Yongpu Carbide Tools Co., Ltd is part of our strategy for our machining solutions business to increase our market share and take a leading position in solid round tools, and at the same time expand further in the Asian market. We are looking forward to welcoming Chuzhou Yongpu Carbide Tools Co., Ltd to the Sandvik Group”, says Stefan Widing, President and CEO of Sandvik.

Chuzhou Yongpu Carbide Tools Co., Ltd will continue to operate under its own brand and focus on developing its offer and market share with the ambition to become a leading premium provider of solid round tools in China. The combined expertise and footprint of Sandvik Coromant and Chuzhou Yongpu Carbide Tools Co., Ltd will drive further geographical expansion in the region, particularly for cutting tools.

“We have long-term strategic commitment to strengthen and develop our business. China is a fast-growing market for solid round tools, and the acquisition of Chuzhou Yongpu Carbide Tools Co., Ltd will further strengthen our presence and enhance our offer to customers in this important region. With its premium position and strong customer focus, Chuzhou Yongpu Carbide Tools Co., Ltd is a great fit for Sandvik Machining Solutions”, says Nadine Crauwels, President of Sandvik Machining Solutions.

Chuzhou Yongpu Carbide Tools Co., Ltd is headquartered in Chuzhou, China, and has around 500 employees. It had revenues of approximately SEK 400 million for the twelve month period Q2 2020 to Q1 2021, an EBIT margin slightly dilutive to Sandvik Manufacturing and Machining Solutions. Impact on earnings per share will initially be neutral.

The transaction is expected to close during the third quarter of 2021.

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/sandvik/r/sandvik-to-acquire-premium-solid-round-tools-company-chuzhou-yongpu-carbide-tools-co–ltd,c3390114

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Energy

Herbicides Spearhead Global Crop Protection Chemicals Market With 50% Share, States Fairfield Market Research

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LONDON, Sept. 17, 2021 /PRNewswire/ — As per the United Nations, the global population is anticipated to touch 9.8 billion by 2050, putting unsustainable pressure on arable land. A key way to ensure food security is by maximizing crop yield. Studies indicate that arable land will decline by 60% per person in emerging economies. Crop protection chemicals improve crop yield and quality in the safest manner as they are constantly evolving in terms of efficacy and to adhere to regulatory norms. There are approximately 800 active ingredients available in the crop protection chemicals market – an eight-fold rise from the 1970s with insecticides, fungicides, and herbicides being the most commonly deployed.

In 2018, the crop protection chemicals market was worth US$64.3 Bn and this is expected to rise to US$83.5 Bn by 2025, recording a CAGR of 5.3% for the period from 2021 to 2025.

Get a Sample Copy of Crop Protection Chemicals Market: https://www.fairfieldmarketresearch.com/report/global-crop-protection-chemicals-market/request-sample 

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Fungicides Play Vital Role in Averting 70% Decline in Cereal, Vegetable and Crop Yield

Herbicides have long dominated the crop protection chemicals market with a market share of more than 50% as they regulate weed growth that can have a detrimental effect on crop yield and acreage. The second most commonly purchased crop protection chemical across geographies are fungicides. Fungal infections are a major concern among farmers as millions of tonnes of wheat, maize, and rice get destroyed annually. It is estimated that the yield of cereals, fruits, and vegetables could fall by 70% without the use of fungicides – highlighting the importance of the overall crop protection chemicals market.

Crop Protection Chemicals and Sustainable Farming Work in Tandem to Transform Agriculture

Crop protection chemicals are critical in sustainable farming with agronomy and societal changes having a transformational impact on the overall market. The explosive growth of the Internet of Things (IoT) within agriculture has led to unprecedented breakthroughs in on-field pest management. Farmers can choose a diverse array of sensors to eliminate pests and take a proactive approach with analytics.

Integrated Pest Management is a major part of sustainable farming with IPM focusing on biological, chemical, physical, and cultural techniques to control insects, fungi, and weeds. IPM has become an integral component of government policy worldwide and the EU considers it to be a cornerstone for pest management.

Do You Have Any Query Or Specific Requirement? Request Customization of Report: https://www.fairfieldmarketresearch.com/report/global-crop-protection-chemicals-market/request-customization 

Record Pesticide Registrations Make Brazil Critical in Crop Protection Chemicals Market

Latin America and Asia Pacific are predicted to lead the crop protection chemicals market for the foreseeable future. Latin America shows huge promise and is expected to grow at a CAGR of 6.3% from 2021-25. Fungal, weed, and worm infestations in the region are being overcome by rapid technological improvements in farming methods. Chemical manufacturers would do well to target Brazil and Argentina in Latin America with the former being one of the largest importers in the crop protection chemicals market.

Within the Asia Pacific region, China and India alone account for a third of global population and more than half of India’s citizens derives their livelihood from agriculture. Since 2015, China has adopted a ‘zero-growth’ plan to carefully monitor crop protection chemicals deployed in the nation. Furthermore, uncertain weather patterns such as sudden floods or droughts can have a catastrophic impact on local crop production. Lastly, countries are tightening their regulatory regimes by phasing out certain active pharmaceutical ingredients, adding to challenges in the crop protection chemicals market.

Consolidation and Japanese Pre-eminence Characterize Crop Protection Chemicals Market

Two decades ago, there were more than 10 large manufacturers actively involved in the crop protection chemicals market. Cutthroat competition and stringent norms have whittled down market players as they were forced to consolidate. In 2018. Syngenta, Bayer Crop Science, BASF SE, Corteva (DowDuPont), FMC, and ADAMA had a market share of more than 50% in the crop protection chemicals market. An interesting trend of note is the prominence of Japanese companies as the country comprises a quarter of products developed in the crop protection chemicals market.

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About Us

Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

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Energy

Europe to Dominate Global Bio LPG Market as Governments Strive to Minimize Emissions, Says Fairfield Market Research

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LONDON, Sept. 17, 2021 /PRNewswire/ — The global economy continues to be overly dependent on oil and gas reserves to satisfy its energy requirements. Although conventional liquid petroleum gas (LPG) comprises a large portion of the pie, a desire to reduce the carbon footprint has compelled companies to look at bio LPG. Bio LPG is produced from renewables such as plant and vegetable waste and is often a by-product. As prices of conventional gas increase due to depleting supplies, the demand for bio LPG should benefit as it is a cleaner, greener, and more cost-effective solution. In a recent report, Fairfield Market Research states that the bio LPG market was worth US$153.71 Mn in 2019 and should grow at a CAGR of 47% from 2020-2025, reaching a value of US$1020.32 Mn by end 2025.

Get a Sample Copy of Global Bio LPG Market: https://www.fairfieldmarketresearch.com/report/bio-lpg-market/request-sample 

Cellulosic Organic Waste is Key to Raising Yield of Bio LPG in Bio LPG Market

The current bio LPG production is marginal in percentage terms because of its low recovery from bio-oil. Nevertheless, if advanced chemical processing techniques that process mixed waste, cellulosic, and bio-oil are commercialized, sufficient bio LPG could be produced to cover a third of global LPG production by end 2025. Cellulosic organic waste – forest residues and crops such as poplar and switchgrass – is essential in raising the yield of bio LPG during the assessment period. Cellulosic waste is the largest component of biological hydrocarbons. Even though mixed waste is substantial, it is lower than cellulosic organic waste in absolute terms, allowing the latter able to deliver the greatest output in the bio LPG market.

Inconsistent Policies and Fluctuating Crude Prices Biggest Challenges in Global Bio LPG Market

Unpredictable government regulations are predicted to be the biggest restraint in the bio LPG market for the foreseeable future. Globally, there is no consistency on biofuel policy and they vary wildly from one jurisdiction to another. A decade ago, some countries offered direct rebates and subsidies to biofuels. After this proved unfeasible, mandates necessitating a certain portion of the market to use biofuels were introduced. Furthermore, the bio LPG market is heavily impacted by the price of natural gas and crude oil as biogas is a direct substitute for bio LPG. Biogas is safer and more environment-friendly than LPG on account of its lower pressure and density.

Do You Have Any Query Or Specific Requirement? Request Customization of Report: https://www.fairfieldmarketresearch.com/report/bio-lpg-market/request-customization 

Pledge to Decarbonize Economies Ensure European Dominance of Bio LPG Market

More than 90% of the bio LPG is produced and marketed in Europe, making the continent critical from a profitability perspective. Several bio LPG producers such as Total SE, Neste Oil, Global Bioenergies and PREEM Group have their headquarters, giving the continent an edge over others in the bio LPG market. European governments are serious about their commitment to decarbonize their economies, driving the uptake of bio LPG there. As climate activists and increasingly aware consumers raise the alarm of global warming, researchers predict that there will be immense opportunities for stakeholders in the bio LPG market.

Players Doubling Down in Bio LPG Market by Signing Agreements with Convenience Stores

Prominent companies actively involved in the bio LPG market are Neste Oil, Total SE, ENI, SHV Energy, Preem AB, Renewable Energy Group, AvantiGas. In 2019, SHV Energy doubled its supply of bio LPG to major European markets and carefully looked at investment projects worldwide. The company also entered into a joint venture with UGI International to produce Renewable Dimethyl Ether, a low-carbon liquid gas for the LPG industry. It remains to be seen how rivals respond to such developments in the bio LPG market.

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About Us:

Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

Contact Us:

Fairfield Market Research
London, UK
UK +44 (0)20 30025888 
USA +1 (844) 3829746 (Toll-free)
Web: https://www.fairfieldmarketresearch.com/ 
Email: [email protected] 
Follow Us: LinkedIn 

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Energy

Rise Light & Power to Transform Former Coal-Fired Power Plant into Clean Energy Hub, Connecting Offshore Wind to New Jersey’s Electric Grid

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Rise is proposing to build the Outerbridge Renewable Connector, a new solution to streamline the delivery of renewable offshore wind energy to New Jersey homes and businesses. Rise recently completed acquisition of the site of the former E.H. Werner Power Station in South Amboy, New Jersey, and plans to redevelop the site as a renewable energy hub serving as a central interconnection point for offshore wind farms to deliver clean energy to the New Jersey electric grid. With Rise’s ongoing remediation efforts, the project will also lead to the elimination of a once-contaminated brownfield site dating back to the 1930s.

The acquisition of the former Werner coal plant continues Rise’s mission to transform aging energy infrastructure into hubs of clean energy. Rise is currently advancing the clean energy transformation of New York City’s largest power plant, the Ravenswood Generating Station, to host several green infrastructure projects, including battery storage and renewable transmission solutions.

Today, after months of consultations with elected leaders, policymakers, offshore wind developers, environmental advocates, labor, business, fishing interests, and other stakeholders, Rise submitted to the New Jersey Board of Public Utilities (BPU) and PJM Interconnection the innovative Outerbridge Renewable Connector plan.

“Rise Light & Power is committed to helping New Jersey achieve its ambitious clean energy goals,” said Clint Plummer, CEO of Rise Light & Power. “The state’s bold vision calls for a responsible, affordable solution to delivering offshore wind energy to the state electric grid. Outerbridge solves the challenge of finding appropriate and acceptable cable landing sites by using existing infrastructure that avoids siting transmission lines in sensitive areas like residential neighborhoods and recreational beaches.”

“Governor Murphy positioned New Jersey as a leader in transitioning to clean energy and we are proud to play an integral part in his goal for the state to obtain 50 percent of its power from clean sources by 2030,” said South Amboy Mayor Fred Henry, who supports the project. “The Outerbridge Renewable Connector is the only project in our state that can deliver clean offshore wind to our residents without the controversy of disturbing beaches and communities. Outerbridge is also a major economic generator for South Amboy that will create good-paying local jobs and support our community as a major taxpayer. This is the kind of partner and project South Amboy is proud to endorse.”

The Outerbridge proposal is a superior solution for delivering offshore wind energy to New Jersey electric customers because it enables offshore wind projects to avoid bringing high voltage power cables ashore at New Jersey’s beaches or other sensitive areas.

Instead, Rise proposes transforming an industrial waterfront site, formerly home to the Jersey Central Power & Light Company’s E.H. Werner power station, into an ideal gateway for bringing power from offshore wind farms into New Jersey. 

The 26-acre, industrially-zoned site was retired as a fossil-fueled power plant in 2015. The site on Raritan Bay features an existing substation and switchyard, rail and highway access, a pier with expansion potential and unobstructed access to the Atlantic Ocean with 24 acres of submerged lands.

Once offshore wind energy is delivered to the new clean energy hub at South Amboy, Outerbridge would function as a giant extension cord, delivering clean energy to the local power grid through upgraded grid infrastructure on the site and to the Deans Substation through buried cables along an existing railroad right of way. The power cables will be entirely underground. A proposed battery energy-storage system offers the opportunity for further reliability to the grid.

In repurposing the past to power the future, Outerbridge will be a valuable part of the South Amboy waterfront, creating good-paying union jobs during construction. 

Outerbridge would generate power for up to 1.4 million homes and create over $1 billion in economic value to New Jersey, including nearly $88 million in tax revenue for state and local governments. In addition, Rise is committed to fund and implement programs to build the local economy and support workforce development. Outerbridge would accomplish this while minimizing costs and controversy and building confidence in New Jersey’s offshore wind systems.

New Jersey has a nation-leading offshore wind program,” said Joe Esteves and David Nanus, the Co-Heads of Private Equity at LS Power. “Our Outerbridge proposal allows the state to achieve its offshore wind goals on schedule, cost-effectively and with the highest possible levels of public support. And it will demonstrate how a legacy power plant site can be transformed into a hub of clean energy.”

The Outerbridge Project presents the NJ BPU with:

  • Ideal location — the site of the retired E.H. Werner Power Station on Raritan Bay
  • Zoned for industrial use — no recreational beaches, residential communities, or Wildlife Management Areas would be disturbed
  • Direct access to state and regional power grid through a substation onsite and access to others via an existing railroad right of way
  • Low-impact, environmentally-responsible route alignment with no above-ground transmission facilities or road construction required between the South Amboy location
  • A Battery Energy Storage System that will help facilitate New Jersey’s transition to clean energy and improve reliability of the PJM system

Rise is committed to extensive, ongoing communication with residents, local officials, labor, business, environmental advocates, environmental justice organizations, fishing industry and other stakeholders to seek input and guidance during development of the project.

About Rise Light & Power
Rise Light & Power is a regional energy asset manager and developer based in Queens, New York-based. Its core asset, Long Island City’s Ravenswood Generation Station, is New York City’s largest power generating facility, providing more than 20 percent of New York City’s generation capacity. Rise is also pursuing an exciting growth-oriented strategy, including modernization and resiliency upgrades at Ravenswood, as well as new large-scale clean energy infrastructure to facilitate the renewable energy transition taking place in the New York and New Jersey region. Rise Light & Power is a wholly owned affiliate of LS Power. For more information, please visit www.riselight.com.

About LS Power  
LS Power is a development, investment, and operating company focused on the North American power energy infrastructure sector. Since its inception in 1990, LS Power has developed, constructed, managed, or acquired more than 45,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired, and battery energy storage projects. 

LS Power’s New York efforts beyond Rise Light & Power include LS Power Grid New York, a nearly 100-mile transmission upgrade project from Marcy to New Scotland which will support the delivery of clean energy, create jobs and hardens the line against extreme weather. LS Power Grid New York was selected by the New York Independent System Operator as the most efficient and cost-effective solution in New York’s largest competitive transmission project to date, for which construction is underway. 

Additionally, LS Power has a long standing commitment to New Jersey, where it opened its office in East Brunswick in 1997, and owns and operates multiple generation facilities, including the Yards Creek Pumped Storage Hydro project, the Mars Solar project and the West Deptford Energy Station. Additionally, LS Power’s New Jersey operations include Silver Run Electric, which secured the first major competitive transmission award in the eastern United States, and was praised by PJM for its “greater cost certainty with fewer exclusions” than other prospective developers. Silver Run was completed on time and below budget in June 2020.

For more information on these and other projects, as well as LS Power’s energy transition companies CPower Energy Management, Endurant Energy and EVgo, please visit www.lspower.com

SOURCE Rise Light & Power

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Energy

Global $28.98 Bn Stainless Steel Pipes and Tubes Markets to 2026

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DUBLIN, Sept. 17, 2021 /PRNewswire/ — The “Global Stainless Steel Pipes and Tubes Market 2021-2026” report has been added to ResearchAndMarkets.com’s offering.

The Global Stainless-Steel Pipes and Tubes Market was valued at USD 28.98 billion in the year 2020.

The outbreak of the COVID-19 has affected the global economy of various sectors, including the oil & gas, manufacturing, automotive, and power generation industries in multiple ways. The COVID-19 pandemic has disrupted the supply chain of the steel industry and has negatively influenced the exploration and production activities in the industry. The current COVID-19 pandemic caused a sudden and sharp decline in economic activity and steel consumption globally.

Increasing energy demand, vehicle production and rise in construction activities in emerging economies is expected to boost the demand of stainless-steel pipes and tubes. Meanwhile, the demand is offset by the economic slowdown in developed regions which is anticipated to remain for further few years.

Additionally, the growing efforts by companies to boost the production of oil and gas from the mature fields are projected to further drive the market growth. Moreover, rising expenditure in the upstream and operation activities from the integrated oil firms and national oil companies is boosting the need for Stainless Steel Pipes and Tubes in the industry, which is, in turn, driving the market demand.

Manufacturers in the stainless-steel pipes market are keen on producing stainless steel welded pipes that are tailored for specific industries. Top players in in the stainless-steel welded pipes market have ramped up their research and development efforts to cater to specialized needs of these end-use industries. Such a strategy might help catapult them to a highly competitive pedestal in near future.

Scope of the Report:

  • The report analyses the Stainless-Steel Pipes and Tubes Market by value (USD Million).
  • The report analyses the Stainless-Steel Pipes and Tubes Market by volume (Million Tonnes).
  • The report presents the analysis of Stainless-Steel Pipes and Tubes market for the historical period of 2016-2020 and the forecast period of 2021-2026.
  • The report analyses the Stainless-Steel Pipes and Tubes Market by Product Type (Welded, Seamless).
  • The report analyses the Stainless-Steel Pipes and Tubes Market by End User (Automotive, Industrial & Power, Oil & Gas, Civil Construction, Water & Waste Water, Others).
  • The Global Stainless-Steel Pipes and Tubes Market has been analysed By Country (United States, Canada, Mexico, Germany, France, Italy, China, India, Japan, South Korea).
  • The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Product Type, by End User.
  • Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
  • The report tracks competitive developments, strategies, mergers and acquisitions and new product development.

The companies analysed in the report include

  • Arcelor Mittal
  • United States Steel Corporation
  • Tata Steel Group
  • Ratnamani Metals & Tubes
  • Jindal Saw Ltd.
  • Choo Bee Group.
  • Kobe Steel, Ltd.
  • Northwest Pipe Company
  • Tubacex Group
  • Sandvik AB

For more information about this report visit https://www.researchandmarkets.com/r/eczkoc

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]      

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