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HELSINKI — Managing the growing threat of space debris requires greater urgency, with improved sensor capability, filling data gaps, economic incentives and new technologies all needed, according to a panel discussion on the issue. With approximately one million objects measuring between 1 cm and 10 cm orbiting Earth, according to ESA’s models, space debris is a looming issue for the growing space economy, participants said during a panel discussion entitled “Space Debris Mitigation – the Growing Threat of Space Junk” at Space Tech Expo Europe in Bremen, Nov. 20. The growing presence of debris, coupled with the rapid expansion of satellites and megaconstellation plans, is increasing the complexity of orbital operations. This presents risks not only to satellites but also to the global economy and security systems that depend on them. Growing congestion in key orbital bands, particularly in low Earth orbit (LEO), has led to an exponential increase in collision avoidance maneuvers. Companies like SpaceX, operating large constellations, perform thousands of such maneuvers annually. And these constellations are also changing the environment in which they operate. “Orbit raising used to be a piece of cake in the past, but now a lot of our customers are transitioning through what we call the Starlink wall. So this is really navigating through the jungle,” said Thomas Eggenweiler, commercial director at Neuraspace, a Portuguese space traffic management startup. Operational Starlink satellites orbit at an altitude 550 kilometers. Meanwhile, debris-producing events, such as satellite and rocket stage fragmentations, continue to exacerbate the situation. There have been five fragmentation events—two separate Long March 6A upper stage events , an Atlas V Centaur upper stage break up, the Resurs-P 1 satellite explosion and the breakup of Intelsat-33e —have occurred since June. Growing debris and proliferation of constellations means the capability to accurately track debris and issue warnings is crucial. Accurate and timely data is foundational for space situational awareness (SSA), yet there are significant gaps in current capabilities. Existing sensors struggle to detect smaller objects consistently, and there is limited transparency and data-sharing among operators. “We need sensors which are sensitive enough to detect small objects,” said Juan Carlos Dolado Perez, founder and CTO at Paris-based Look Up Space. This, he says, means objects a few centimeters in size for LEO, and around 20 cm for geostationary orbit. “We need to observe consistently, just not detect them,” Perez said. He added that reactivity and timeliness is also key. “We need a small time between detection and the moment we need the data, to process that data and to provide the information,” Perez said. Date Object Name COSPAR ID Estimated Number of Fragments June 26, 2024 Resurs-P No.1 2013-030A 100+ July 4, 2024 Long March 6A upper stage 2024-126C Unknown August 6, 2024 Long March 6A upper stage 2024-140U 700–900 September 6, 2024 Atlas V Centaur upper stage 2018-022B 40+ October 19, 2024 Intelsat 33e 2016-053B ~500 Major orbital fragmentation events since June 2024. At the same time, the legal framework governing space, meanwhile, is struggling to keep pace with the rapid growth in orbital activity. “On the regulatory part, it should be five years for the deorbiting requirement. I think 25 years is ridiculously high,” opined Stela Tkatchova, European Innovation Council program manager for Space, referring to general guidelines that spacecraft in LEO should deorbit within a maximum of 25 years after the completion of their mission. There also needs to be encouragement for positive actions with regards space debris, according to Andrew Faiola, commercial director at Astroscale. “We need incentives for responsible behavior, not just penalties for bad behavior,” Faiola said. “The key action is to change the rules. There’s no real obligation for compliance, that does necessitate some regulation, but it has to strike the right balance where we see incentives to behave in the right way rather than penalties,” he added. Emerging solutions include active debris removal (ADR), AI and automation for space traffic management, and regulation and standards. But the business case is also one of the major challenges for innovators bringing technology to the space economy, noted discussion moderator Isabelle Mierau, founder of Space Debris DAO. The business case for debris removal isn’t just about revenue, it’s also about reducing costs, such as extending the operational life of satellites, according to Faiola. He added that governments must lead by example and catalyze the market by investing in these services. Extending the lifetimes of satellites is, however, becoming more challenging as the number of collision warnings and need for propellant-sapping maneuvers continues to grow. Asked about what is needed for the future to tackle debris issues, Tkatchova said she would love to see using solar power for removing space debris, as well as solar sails, dynamic tethers, or propellantless propulsion technologies, including solutions that minimize atmospheric pollution from reentry. “The rules of the road need to be improved to have to incentivize basically responsible behavior in space,” said Eggenweiler. “The second thing is we need more and better data about the situation in space. And the third thing is, if you look at your cars at home, they have more intelligence for collision avoidance than our satellites in spacecraft, and those are multi-million euro spacecraft.” Perez concurred that the data gap needs to be filled in the next five years, as well as solving technical, technological and regulatory aspects. Space is an invisible infrastructure we use every day, but don’t see, Faiola said. Losing it could have devastating effects on our economies and security. The discussion, overall suggested space debris management is not just about technology but requires alignment across regulation, innovation, and economic frameworks.
CALGARY, Alberta, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) ("Enerflex” or the "Company”) today provided an update of a modularized cryogenic natural gas processing facility in Kurdistan (the "EH Cryo project”). As previously announced, during the second quarter of 2024, Enerflex suspended activity at the EH Cryo project, demobilized its personnel and provided its customer with notice of Force Majeure following a fatal drone attack at an adjacent facility. Due to the continuing Force Majeure and circumstances that make it impossible for Enerflex to fulfill its obligations under the EH Cryo project contract, Enerflex today provided its customer with formal notice of termination. As previously announced, Enerflex's customer has commenced arbitration proceedings against the Company, asserting certain baseless and unsubstantiated claims. Enerflex is disputing these claims and, following today's termination, Enerflex will seek to recover amounts owing in connection with the EH Cryo project. At the end of Q3/24, the net asset position associated with the EH Cryo project was $161 million. Approximately $75 million of work associated with the EH Cryo project was included in the Company's Engineered Systems ("ES”) backlog at the end of Q3/24. With the termination of the EH Cryo project, Enerflex expects to reverse this amount during the fourth quarter of 2024. The future ES revenue associated with the EH Cryo project was expected to contribute minimal gross margin. Since inception of the EH Cryo project, Enerflex has maintained a $31 million letter of credit to support its obligations under the EH Cryo project contract. Enerflex would view any drawing of this financial security in the prevailing circumstances as improper and would increase the amount owing by the customer. Any drawing of the financial security would not have a material impact on the Company's financial position or liquidity. At the end of Q3/24, Enerflex had $588 million available for future drawings, which reflects the $31 million letter of credit funded with the Company's revolving credit facility. ADVISORY REGARDING FORWARD-LOOKING INFORMATION This news release contains "forward-looking information” within the meaning of applicable Canadian securities laws and "forward-looking statements” (and together with "forward-looking information”, "forward-looking information and statements”) within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking information and statements. The use of any of the words "future", "continue", "estimate", "expect", "may", "will", "could", "believe", "predict", "potential", "objective", and similar expressions, are intended to identify forward-looking information and statements. In particular, this news release includes (without limitation) forward-looking information and statements pertaining to the Company's expectations to recover amounts owing in connection with the EH Cryo project, if any; and the Company's expectations to reverse approximately $75 million included in the Company's ES backlog in the fourth quarter of 2024. All forward-looking information and statements in this news release are subject to important risks, uncertainties, and assumptions, which may affect Enerflex's operations, including, without limitation: the impact of economic conditions; the markets in which Enerflex's products and services are used; general industry conditions; changes to, and introduction of new, governmental regulations, laws, and income taxes; increased competition; political unrest and geopolitical conditions; and other factors, many of which are beyond the control of Enerflex. As a result of the foregoing, actual results, performance, or achievements of Enerflex could differ and such differences could be material from those expressed in, or implied by, these statements, including but not limited to those factors referred to under the heading "Risk Factors" in: (i) Enerflex's Annual Information Form for the year ended December 31, 2023, (ii) Enerflex's management's discussion and analysis for the year ended December 31, 2023, and (iii) Enerflex's Management Information Circular dated March 15, 2024, each of the foregoing documents being accessible under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively. Readers are cautioned that the foregoing list of assumptions and risk factors should not be construed as exhaustive. The forward-looking information and statements included in this news release are made as of the date of this news release and are based on the information available to the Company at such time and, other than as required by law, Enerflex disclaims any intention or obligation to update or revise any forward-looking information and statements, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice. ABOUT ENERFLEX Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, deploying natural gas, low-carbon, and treated water solutions - from individual, modularized products and services to integrated custom solutions. With over 4,600 engineers, manufacturers, technicians, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the energy transition and growing decarbonization efforts. Enerflex's common shares trade on the Toronto Stock Exchange under the symbol "EFX" and on the New York Stock Exchange under the symbol "EFXT". For more information about Enerflex, visit www.enerflex.com . For investor and media enquiries, contact: Marc Rossiter President and Chief Executive Officer E-mail: [email protected] Preet S. Dhindsa Senior Vice President and Chief Financial Officer E-mail: [email protected] Jeff Fetterly Vice President, Corporate Development and Investor Relations E-mail: [email protected]None
NoneWEST PALM BEACH, Fla. (AP) — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar. His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates. Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining. While the U.S. dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America’s dominance of the global financial system . The dollar represents roughly 58% of the world’s foreign exchange reserves, according to the IMF and major commodities like oil are still primarily bought and sold using dollars. The dollar's dominance is threatened, however, with BRICS' growing share of GDP and the alliance's intent to trade in non-dollar currencies — a process known as de-dollarization. Trump, in a Truth Social post, said: “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy." At a summit of BRIC nations in October, Russian President Vladimir Putin accused the U.S. of “weaponizing” the dollar and described it as a “big mistake.” “It’s not us who refuse to use the dollar,” Putin said at the time. “But if they don’t let us work, what can we do? We are forced to search for alternatives.” Russia has specifically pushed for the creation of a new payment system that would offer an alternative to the global bank messaging network, SWIFT, and allow Moscow to dodge Western sanctions and trade with partners. Trump said there is "no chance" BRIC will replace the U.S. dollar in global trade and any country that tries to make that happen "should wave goodbye to America.” Research shows that the U.S. dollar's role as the primary global reserve currency is not threatened in the near future. An Atlantic Council model that assesses the dollar’s place as the primary global reserve currency states the dollar is “secure in the near and medium term” and continues to dominate other currencies. Trump's latest tariff threat comes after he threatened to slap 25% tariffs on everything imported from Mexico and Canada, and an additional 10% tax on goods from China, as a way to force the countries to do more to halt the flow of illegal immigration and drugs into the U.S. He has since held a call with Mexican President Claudia Sheinbaum, who said Thursday she is confident that a tariff war with the United States can be averted. Canadian Prime Minister Justin Trudeau returned home Saturday after meeting Trump, without assurances the president-elect will back away from threatened tariffs on Canada.Challenges persistin attracting FDIs
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