My Alarm Center Files for Bankruptcy to Reorganize, Eliminate Debt

My Alarm Center Files for Bankruptcy to Reorganize, Eliminate Debt | #TpromoCom #Security #SDM #Reorganization #Bankruptcy | My Alarm Center, a provider in home security, announced that 100 percent of its senior lenders and other key stakeholders have agreed to support the company’s prepackaged plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code. https://bit.ly/32WBXJi

The reorganization provides for elimination of approximately $235 million of legacy debt obligations. This will allow the company to focus on core competencies without the burden of servicing significant debt levels. (read more)

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BASF advances renewable energy commitment with wind and solar power contracts

BASF advances renewable energy commitment with wind and solar power contracts | #TpromoCom | BASF is collaborating with EDF Energy North America to improve the energy balance and reduce CO₂ emissions of two of its production sites in Texas (globenewswire).  https://bit.ly/3peF3ko

The companies have signed a 35 MW Wind Power Purchase Agreement (PPA) that will bring 25 MW wind power to BASF’s Verbund site in Freeport and 10 MW wind power to the Pasadena site. The agreement adds to another recently announced PPA that will supply the Freeport site with 55 MW power from EDF Renewables’ Space City Solar project.

“The agreements underline BASF’s commitment to sustainability. Manufacturing products for sustainable solutions, reducing emissions from our processes and using non-fossil fueled energy sources – all of these efforts help lead us on our continuing journey of sustainability,” said Chris Witte, Senior Vice President and General Manager for the BASF site in Freeport. “The addition of renewable energy to our Texas sites will ultimately benefit all three areas: sustainable products, processes and power.”

The projects will significantly improve the energy balance of both BASF sites and further complement the company’s overall sustainability goals. Approximately 70% of the energy supply to the Pasadena site and more than 90% of the power purchased in addition to the energy produced at Freeport site will be supplied from renewable resources. This equals the energy consumption of more than 10,500 households.

The addition of wind and solar power to BASF’s energy portfolio further enhances the company’s advancement toward its climate protection goal of CO₂ neutral growth until 2030. As part of its ambitious Carbon Management program, BASF is gradually replacing fossil fuels with renewable energy sources. At the same time, the partnership ensures the reliability of the BASF assets and increases efficiency and competitiveness at both sites.

EDF Energy North America is an industry leader in renewable energy solutions. The wind farm selected to supply BASF is located in Crocket County, Texas. The planned start date for providing the BASF sites wind power is June 2021. EDF Renewable’s Space City Solar in Wharton, Texas, is expected to begin construction in Summer 2021 and renewable energy supply will start mid-2022.

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Access ID Market Predicted to Grow Following 2020 Decline

Access #ID #Market Predicted to Grow Following 2020 Decline | #TpromoCom | A new annual report shows that sales of access control products declined to $7.9Bn in 2020. However the report from researchers at Memoori also forecasts that by 2025 the world market should be worth $10.2Bn a CAGR of approx. 5% over the next 5 years. http://bit.ly/38YXCEl

Memoori has charted the performance of the access control business during the last decade, witnessing demand for products expanded by a CAGR of 8.2%; and at the beginning of 2020 reaching sales of $8.7Bn.

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FLIR Systems to Be Acquired by Teledyne for $8B

FLIR Systems to Be Acquired by Teledyne for $8B | #TpromoCom #Flir #Acquisition #Business | FLIR’s CEO says together the companies will “offer a uniquely complementary end-to-end portfolio of sensory technologies for all key domains and applications.” (securitysales.com) http://bit.ly/3nh6WYb

Under the terms of the agreement, FLIR stockholders will receive $28.00 per share in cash and 0.0718 shares of Teledyne common stock for each FLIR share, which implies a total purchase price of $56.00 per FLIR share based on Teledyne’s 5-day volume weighted average price as of Dec. 31, 2020.

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The Top 10 Surveillance Videos of 2020

The Top 10 Surveillance Videos of 2020 | #TpromoCom #VideoSurveillance #Security #Trending | Theft fails, a “gangster grandpa,” a heroic dog and much more make up the most viewed surveillance videos of 2020.

Some of the stuff caught by surveillance cameras really is incredible. While the primary role of surveillance cameras is for security purposes, they also catch heartwarming stories, surprising feats of strength and countless moments that you wouldn’t believe if they weren’t caught on camera.

SSI‘s top surveillance videos of the week is proof. Every Friday, we compile the most ridiculous, bizarre and impressive surveillance videos that are released that week.

To read this most excellent, timely news story, Click Here!

29% of SMBs report their company is at risk of going out of business due to COVID-19

29% of SMBs report their company is at risk of going out of business due to COVID-19 | #TpromoCom #COVID19 #Business #Financial | New research examines the shifting SMB landscape caused by COVID-19 and assesses new technological and communication needs http://bit.ly/3hcewC5

Recent research from Parks Associates’ New SMB Landscape: Devices, Communication, Security, Support reveals nearly 29% of SMBs report their company is at risk of going out of business due to COVID-19. The public health crisis and months of shelter-in-place orders have had a dramatic impact on SMBs in particular. New SMB Landscape: Devices, Communication, Security, Support, a primary study of US SMBs, provides insights on technology adoption and needs among SMB owners and IT personnel and examines the changes taking place as a result of reduced budgets and broad-scale shifts to work from home.

“SMBs at risk of going out of business are spending on technology products and services to transform their businesses to new conditions and overcome the existential challenges presented by the pandemic,” said Jennifer Kent, Senior Director, Parks Associates. “SMBs need their IT device vendors and service providers to be supportive and flexible, becoming trusted partners in pivoting their operations to new market realities.”

To read the remainder of this excellent report, click here!