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Global turbine leader Vestas has taken sole control of its offshore wind joint venture, a move thatsays a lot about Vestas' current standing in the sector and even more about where wind power is headed.

The 700 million ($814 million) all-stock deal revealed last weekwill give Mitsubishi Heavy Industries (MHI) a 2.5 percent stake in Vestas, whileMHI Vestas will be folded into Vestas effective immediately. The goal is for Vestas to lead in marketshare in the fast-growing global offshore wind turbine spaceby 2025,Vestas CEO Henrik Andersen saidduring aThursday conference call with investors to discuss the transaction.

Toseize that title from Siemens Gamesa, Vestaswill launch a new technology platform for the next generation of the company's offshore wind turbines.We wont achieve market leadership with the current turbine," Andersen noted.

Vestas reports its third-quarter results later this week. Thatconference call will offer a glance at what its investors make of the move, plus perhaps coloring in some additional detail.

For those watching Vestas closely, bringing the offshore business entirely in-house was always a possibility given the obvious cost-savings potential. That said, MHI and Vestas previouslymaintained that the partnership model best suited them both. So why now?

Shashi Barla, Wood Mackenzie's principal analyst for the global wind supply chain, suggests the answer could be rooted in both the past and the future.MHI Vestaswas created in April 2014, he pointed out. Vestas posted losses in 2011, 2012 and 2013, with its2012 loss amounting to a staggering 963 million.

Offshore projects are not small endeavors. With a weakened balance sheet, Vestas was better placed to accelerate its offshore business with a partner. Cue MHI.

Vestas has grown significantly in the last six years, and it now has a sizable balance sheet. [Vestas]can absorb these projects onto [its]own books, Barla explained.

But in its Q2 2020 report, Vestas balance sheet was just shy of 15 billion. That strong financial position changes the calculus on its approach to offshore wind.

As CEO Andersen said, the current turbines on MHI Vestas books arent going to get the company into a market leadership position by 2025.A fresh technology platform that could leapfrogthe firm to a position alongside, or even ahead of, Siemens Gamesa and General Electric wasnecessary.

[Vestas has] a strong pipeline to execute over the next four years, but beyond 2024, their market share is going to plummet if they dont introduce the next generation, says Barla.

Barla suggests that with the underwhelming returns from MHI Vestas, JV partner MHI may have decided it wasnt prepared to assume half the risk associated with developing, testing and launching a new platform. Overthe last five quarters, MHI Vestas' best result has been a profit of 22 million on revenueof 534 million.

Mitsubishi will be concerned about pushing the investment button and spending another 400 million or 500 million on ramping up this supply chain, addedBarla.

Bringing the next offshore turbines in-house means maximizing savings with Vestas and boostingprofitability in the process. As an investor with a 2.5 percent stake and a seat on the board, MHI can still benefit.

Sowhat should we expect to see from thenext generation of turbines? Today, MHI Vestas turbines top out at 10 MW with rotor sizes of 164 meters, or up to 174 meters in a 9.5 MW iteration.

GE, meanwhile, shot into offshore contention with its Haliade-X platform with capacities of 12 and 13 MW and a 220-meter rotor size. Deliveries to the Dogger Bank project in the U.K could begin as early as 2023.

Offshore market leader Siemens Gamesalaunched a 14 MW turbine with a 222-meter rotor in May this year. Its first order, for the 1.4 GW Sofia project in the U.K., will begin construction in 2024.

Thats the competition, and Vestas will need to match it.Barla expects Vestas next iteration of turbine to have arotor size of around 240 meters and a capacity of between 14 and 16 MW. Anything short of that would be terribly disappointing.

Siemens Gamesa and Vestas have been experiencing similar trials,but in opposing verticals:one at sea and one on land. The lengths to which both have gone to develop the three-legged revenue stool of onshore, offshore and services reflect the competitive nature of the wind power business.

While Siemens Gamesa has enjoyed market leadership in offshore, its onshore business has been suffering losses, which haveultimatelyled to an overhaul of the company management. New CEO Andreas Nauen was the head of the successfuloffshore business unit and has been moved into the top job in hopes that he can replicate that success.

Vestas has been breaking records in order-intake levels in concurrent quarters. Its share price rose all summer and hit an all-time record in October of DKK 1,166 ($184). Prior to 2020, it had never been above DKK 700. With a solid service revenue backlog as well, the lack of profitability at MHI Vestas, which reports outside of the listed Vestas Wind Systems A/S, was perhaps the only major missing part of the puzzle.

Growth projections for offshore wind have strengthened through the COVID-19 pandemic. This year theGlobal Wind Energy Council revised its 2030 cumulative capacity forecast to 234 GW, up 15 GW compared to the 2019 view. Trade bodyRenewableUKhas tracked a 50 percent increase in the offshore wind project pipeline over the course of the last year.

Vestas is now better positionedto capture that growth as the master of its own offshore fortunes.

See the article here:
Why Vestas Brought Its Offshore Business In-House - Greentech Media News

High-stakes elections, such as the presidential election that just took place in the United States, can take a toll on the mental health of voters. We spoke to an expert to get tips on how to cope in the aftermath.

A recent study that we covered on Medical News Today found that, following the 2016 U.S. presidential election, people who had backed the losing candidate experienced more days of poor mental health over the next month than in the month before the election.

Based on those findings, the researchers cautioned that this years presidential election might also take a toll on voters mental health, particularly given that it took place during a pandemic another factor that has been affecting peoples well-being.

Healthcare providers could potentially help patients in the 2020 election by monitoring for clinically relevant signs of mental health deterioration and offering appropriate support and intervention, the study authors advised ahead of the election.

But what can individuals do to mitigate the possible mental health impact of the elections aftermath?

MNT asked Dr. Matthew Boland, Ph.D. a licensed clinical psychologist based in Reno, NV to share some coping strategies and constructive ways forward.

In instances when our team does not win an election, we can often fixate on those difficult results and the sadness, anger, and/or frustration we feel in response to them, Dr. Boland told MNT.

However, there are a few ways to help ourselves shift our focus away from the results, he added.

First, limit exposure to the election information, or take it only in small doses (e.g., 5 minutes per day). Second, engage in enjoyable activities that give you meaning or capture your attention to focus attention away from constant thoughts about it. Third, speak openly about the stress you feel about the election results with others who are trusted sources of support, but limit how much you talk about the actual results themselves or why you dislike the candidates who won or their political positions.

Dr. Matthew Boland, Ph.D.

There is scientific evidence to suggest that such strategies do work. Past research has shown that exposure to negative news cycles can worsen a persons mood and exacerbate personal worries. Therefore, cutting down on media consumption could help prevent or mitigate that impact.

A longitudinal study from 2014 showed that there was a link between engaging in activities that a person deems meaningful and reporting a better quality of life.

Past research has also shown that the more we try to hide and ignore signs of stress, anxiety, or depression, the worse our mental health gets.

To break the vicious cycle, it is important to acknowledge negative feelings and moods, allowing ourselves to sit with them for a while rather than pushing them away.

Some people are prone to catastrophizing when something does not go as they had hoped or expected. Catastrophizing is a mental process in which individuals anticipate the worst outcome, even though this scenario is unlikely.

In addition to fixating on negative thoughts in general when we are unhappy about election results, we can also concentrate on thoughts of how those results might lead to the fatality of our country and our system, Dr. Boland told us.

However, there are ways to bring catastrophic thinking and other negative thoughts under control.

Some strategies that help you approach your thinking differently include trying to seek perspective and questioning your thoughts that may be pessimistic or suggest fatality of the system, he explained.

When our thoughts are spinning out of control and exacerbating stress and anxiety, it is important to question them instead of allowing them to carry us away.

So really checking in with your thoughts and asking, Will what I think actually happen here? and, Have my thoughts come true in previous times when I did not like the election results? Really questioning or thinking about our thinking can help us work toward a balanced perspective and feel less negative emotion and stress, Dr. Boland went on to advise.

Finally, while election results do have an important impact on key issues of healthcare and social well-being, individuals can still contribute to the causes that matter to them.

Many issues in an election cycle can lead us to feel a lack of control, especially if we believe those issues will be negatively affected by those who win elections, Dr. Boland told MNT.

But instead of allowing disappointment and hopelessness to take root, he said, we should look into how, going forward, we may ourselves make a positive contribution to health policies and social welfare.

If you have strong beliefs about certain issues or policies, one way to gain back a sense of control in the process is to engage in efforts to help those issues be seen in the process. This may mean volunteering for an organization that helps promote a certain issue, or agreeing to assist a political candidate or group in their efforts for the next election, for example.

Dr. Matthew Boland

In the example of healthcare, this may mean volunteering for a political organization that promotes your view on healthcare or a society that promotes the treatment or diagnosis of a certain disease, and writing your representatives (whichever party they belong to) to promote your stance on healthcare issues, he added.

Indeed, there is some evidence showing that acts of altruism, such as volunteering for a good cause, can make people happier.

According to research from 2017, people who had either performed or expressed an intention to perform an altruistic act had increased activity in brain areas associated with the reward cycle.

[A] commitment to generous behavior can increase happiness and thereby provide a neural mechanism that links commitment-induced generosity to happiness, the study authors write.

Instead of dwelling on negative thoughts or worrying about the future, acting now to help improve the lives of others may be the best way to move forward for individuals, as well as for society.

More here:
How to look after your mental health in the aftermath of the election - Medical News Today

ORBCOMM and Inmarsat

ORBCOMM and Inmarsat partner to provide next-generation IoT service

ROCHELLE PARK, N.J., Nov. 03, 2020 (GLOBE NEWSWIRE) -- ORBCOMM Inc. (Nasdaq: ORBC), a global provider of Internet of Things (IoT) solutions, and Inmarsat, the world leader in global mobile satellite communications, today have released a video recording of an interview with Marc Eisenberg, Chief Executive Officer of ORBCOMM, and Rupert Pearce, Chief Executive Officer of Inmarsat, to expand upon their enhanced partnership, which was announced in a press release on October 27, 2020. The interview is hosted by satellite industry expert Tim Farrar, President of TMF Associates.

The next phase of ORBCOMM and Inmarsats partnership extends their agreement to provide L-band satellite service through 2035 at a minimum. ORBCOMM and Inmarsat will also collaborate on a next-generation, global IoT service called OGx to offer the best-in-class combination of high bandwidth data packets with low-cost terminals, which is expected to be available in 2022. In addition, Inmarsat will distribute ORBCOMMs portfolio of OGx telematics devices globally through its extensive commercial and government sales channels as well as ORBCOMMs end-to-end IoT solutions for end user customers in multiple vertical markets.

By extending this long-term, successful partnership, ORBCOMM and Inmarsat can leverage their synergies to continue to deliver the industrys best satellite offering with the broadest geographic coverage, the most regulatory authorizations and the best value to an even broader customer base around the world.

Following are details to access the video interview:

ORBCOMMs web site:

Next-Generation Satellite IoT: Video Interview with ORBCOMM & Inmarsat CEOs

Inmarsats web site:

https://www.inmarsat.com/press-release/orbcomm-and-inmarsat-to-provide-next-generation-global-iot-service/

About ORBCOMM Inc.ORBCOMM (Nasdaq: ORBC) is a global leader and innovator in the industrial Internet of Things, providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. The company offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM has a diverse customer base including premier OEMs, solutions customers and channel partners spanning transportation, supply chain, warehousing and inventory, heavy equipment, maritime, natural resources, and government. For more information, visit http://www.orbcomm.com.

About InmarsatInmarsat is the world leader in global, mobile satellite communications. It owns and operates the worlds most diverse global portfolio of mobile telecommunications satellite networks, and holds a multi-layered, global spectrum portfolio, covering L-band, Ka-band and S-band, enabling unparalleled breadth and diversity in the solutions it provides. Inmarsats long-established global distribution network includes not only the worlds leading channel partners but also its own strong direct retail capabilities, enabling end to end customer service assurance.

The company has an unrivalled track record of operating the worlds most reliable global mobile satellite telecommunications networks, sustaining business and mission critical safety & operational applications for more than 40 years. It is also a major driving force behind technological innovation in mobile satellite communications, sustaining its leadership through a substantial investment and a powerful network of technology and manufacturing partners.

Inmarsat operates across a diversified portfolio of sectors with the financial resources to fund its business strategy and holds leading positions in the Maritime, Government, Aviation and Enterprise satcoms markets, operating consistently as a trusted, responsive and high-quality partner to its customers across the globe. For further information, visit http://www.inmarsat.com follow us on LinkedIn or on Twitter @InmarsatGlobal.

Forward-Looking Statements Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Companys expectations, are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from the results, projected, expected or implied by the forward-looking statements, some of which are beyond the Companys control, that may cause the Companys actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, specific consideration should be given to various factors described in Part I, Item 1A. Risk Factors and Part II, Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations, and elsewhere in our Annual Report on Form 10-K, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2c60dd5d-5996-41e9-815d-527f68b3056c

View original post here:
Media Alert: ORBCOMM and Inmarsat Release Video Interview with Marc Eisenberg, CEO of ORBCOMM, and Rupert Pearce, CEO of Inmarsat - GlobeNewswire

Tesla is suing the Trump Administration over tariffs on a computer chip and other parts it imports from China, joining an increasingly long list of similar lawsuits filed by hundreds of companies, including automakers Ford, Mercedes-Benz and Volvo.

Tesla, which names U.S. Trade Representative Robert Lighthizer in the lawsuit filed in the U.S. Court of International Trade, wants the court to declare the tariffs unlawful. Bloomberg was the first the report the lawsuit. Tesla is also seeking a refund for the tariffs it paid with interest. The lawsuit centers on two types of tariffs, a 25% duty enacted in 2018 and 7.5% tariff on hundreds of other products that went into effect last year.

Last year, the United States Trade Representative (USTR) denied Teslas request for an exemption on a new custom chip built in China.

The custom chip is part of the companys advanced Autopilot 3.0 hardware that is intended to enable what the company describes as full self-driving (FSD) operation for all of its new vehicles. This hardware is now standard in all new Model 3, S and X vehicles. Customers pay an additional $8,000 for the software upgrade called FSD.

This hardware is contained within the Autopilot ECU (or engine control unit), a module that Tesla has described as the brain of the vehicle.

The module is assembled in Shanghai, China, by a company called Quanta Computer. The module, along with a range of other electronics and products that are made in China and imported into the U.S., is subject to 25% punitive tariffs.

In its request to the USTR, Tesla said it was unable to source manufacturing for the Autopilot ECU 3.0 in the United States.

Tesla was unable to find a manufacturer with the requisite expertise to produce the Autopilot ECU 3.0 with the required specifications, at the volume requested and under the timelines necessary for Teslas continued growth. This module is the brain of the vehicle. As such, the sourcing decision for this was not taken lightly nor simply on a cost basis. Autopilot is a complicated, safety critical feature of the Tesla experience where even the slightest imperfection can have major ramifications, so all of our decisions aim to decrease risk.

Tesla was also denied an exemption on the media control unit, or MCU, component of the Model 3s computing system. The MCU is a combination of three printed circuit board assemblies (PCBAs) enclosed in a mechanical chassis. The PCBAs include the media control unit which controls data going to and from the vehicles touch display, audio speakers/microphones, radio, connectivity board (cellular internet), Bluetooth, Wi-Fi, USB charger, and back-up camera, the company explained in its request. The MCU is linked to and communicates with the vehicles ADAS and connectivity board modules.

Updated: The current price of FSD is $8,000, which went into effect in summer 2020.

Here is the original post:
Tesla sues Trump Administration to end tariffs on the brain of its vehicles - TechCrunch

"It just makes you want to stop and throw your phone in the bin it's so eye-opening."

The documentary premiered at Sundance Film Festival early this year but hit Netflix this month and is trending online and among parents who have long worried about the impact social media has on kids' self-esteem.

In it, many of the co-creators of global platforms including Facebook, Instagram, YouTube, Pinterest and others reveal they are so concerned about the harms of social media that they ban or severely restrict their kids' use.

Social psychologist and New York University professor Jonathan Haidt notes a gigantic increase in depression, anxiety, self-harm and suicide among pre-teen and teenage children, Gen Z, who have been on social media since mid-primary school.

He says numbers of teenage girls admitted to hospital for self-harm including cutting were stable until around 2011-13, but in the US these have risen 62 per cent for 15-19-year-olds and 189 per cent for pre-teen girls; "that is horrifying".

"We've seen the same pattern with suicide," he said. In older teen girls it's up 70 per cent compared with the first decade of this century and "in pre-teen girls, who had very low rates [previously] it's up 151 per cent and that pattern points to social media."

Watching the documentary, Catherine Manning, who runs self-esteem workshops for young people, said the revelations about the methods used by social media platforms to get into people's minds and the statistics around the resulting self harm left her "in tears".

Catherine Manning, a self-esteem educator, was "in tears" watching the Netflix documentary in which social media's creators outline its harms to young people. Her daughter, Lucinda, has changed her ideas about the platforms after watching it.Credit:Jason South

"I was just thinking about how abducted our kids have been and how much it [social media] is already causing them so much pain and anxiety. But at the same time, it is such a great tool for our socialisation," said Ms Manning, CEO of SEED workshops.

"The statistics presented about the rise in self-harming behaviours and suicide among young people certainly correlate with those around the increase in things like body dysmorphia [a mental health condition in which physical defects are imagined] across the board," she said.

"The powerful thing for kids to identify is that something they care about so much has no care for them other than as revenue ... there is nothing new in this, but it makes it a whole lot more personal."

Teens including Neisha Biviano, her friend Mia Quinn, also 15, and Ms Manning's daughter Lucinda, 18, are saying the documentary's revelations have been so affecting it will influence their real-world relationships with social media.

I was just thinking about how abducted our kids have been and how much it [social media] is already causing them so much pain and anxiety.

Mia Quinn, an aspiring visual artist and photographer, said despite the value platforms such as Instagram offer, especially showing her other young people's art, after watching The Social Dilemma she immediately told her friendship circle she wanted to delete the app.

"I had just watched The Social Dilemma and said [to my friends] guys let's all delete Insta and Snapchat, I said 'Insta isn't working for me I don't want to be here anymore, this isn't right'.

"Then again, I don't want to leave it and move to a different platform without my friends [who did not want to abandon it entirely]."

She unfollowed large numbers of people, including all "influencers", and stuck only with those offering creativity.

She said this "confused the algorithm" on Instagram - which guesses what individual users might like and curates personalised streams and targeted ads - and "it now only shows me new people to follow that are mainly art students, and that's really good".

"I think the best thing you can do is buy books, unfollow influencers who make their money from social media - they bring more harm than good to everyone - turn your notifications off ... and follow more of your hobbies and interests rather than people."

Ms Biviano says despite the instinct to disconnect, the fact many positive things come into her world via social media means it is worth continuing with. "It has two possibilities: there is a really amazing virtual place that's filled with acceptance and it can be a lovely creative outlet and inspiring.

"But the other is this breeding zone full of self-destructive energy and hate and this increasing amount of political, polarising views getting thrown up, and also an increasing amount of negative and really toxic, unreachable standards that have been created."

Julie Inman Gant, eSafety Commissioner, has "lived" The Social Dilemma and believes the will by giant platforms to lead the creation of a safe social medial culture is not there.Credit:Janie Barrett

The national eSafety Commissioner, Julie Inman Grant, has insider experience of tech corporation culture and says the will to create a safe environment is not there.

I worked in the tech industry for more than 20 years and actually lived the Social Dilemma," she said, "I tried to serve as a constructive safety antagonist from within the industry, but it only got me so far because the corporate will and leadership was not there."

The film particularly illustrates the influence of social media on children who may not yet have developed sufficient critical reasoning skills to stay safe online and combat fake news, she said.

If the tech giants are building the digital roads they must also be installing the virtual seatbelts and stop signs and policing theses roads to keep users safe.

Given Facebook has 2.5 billion users and YouTube has 1.5 billion, and algorithms create and recommend content, "the frightening reality is that they [users] could spend this critical early part of their lives only hearing one viewpoint".

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Melbourne University senior social sciences lecturer Dr Lauren Rosewarne has written two books on social media and says revelations about activities of big tech companies shock users but they generally do not cause widespread user-behavior change.

The impression given in The Social Dilemma that developers were "babes in the woods" who had no idea features they built could become harmful or addictive were "laughable", but members of the generation that has known no life before social media are equipped with more media literacy than older peers.

"What we need to do culturally is think about how do we become more savvy users and how do we control the tech we use rather than letting it control us," she said.

Lucinda Manning, 18, said though parents may believe kids did not question the dark arts of social media platforms competing in what the film dubs the "attention extraction" industry, they do and will be even more selective now.

Friends have deleted apps like Facebook and Instagram as theyre very aware of the negative impacts it has on their mental health.

"I do believe my generation is becoming very aware of the impacts social media has on them. I think many parents think young people dont care and arent paying attention but the reality is we are, and we really do care.

"Many people my age are changing the ways they use their devices, including friends of mine who have deleted apps like Facebook and Instagram as theyre very aware of the negative impacts it has on their mental health.

"The documentary definitely encouraged me to think more about the amount of time and effort I put into social media and I believe just watching the documentary is a step towards change."

Our weekly newsletter will deliver expert analysis of the race to the White House from our US correspondent Matthew Knott. Sign up for The Sydney Morning Herald's newsletter here, The Age's here, Brisbane Times' here and WAtoday's here.

Wendy Tuohy is a Sunday Age senior writer.

Read more from the original source:
'It makes you want to throw your phone in the bin': The film turning teens off social media - The Age