first_imgOn Wednesday, May 21, amid a flurry of anticipation at the Vermont Business EXPO opening ceremony, Governor James Douglas presented NRG Systems, Inc of Hinesburg with the Deane C. Davis Oustanding Business of the Year Award.Named after former Governor Deane C. Davis (1900-1990) and co-sponsored by the Vermont Chamber of Commerce and Vermont Business Magazine, the award is given to the Vermont company that embraces the unshakeable values that Davis brought to his office: enhancing the economy and championing the environment with the help of business and satisfied employees.Now in its fourteenth year, the award is cloaked in secrecy, with three finalists hoping to hear their name at the moment the winner is announced. This year’s finalists include CVPS and The Vermont Teddy Bear Company in addition to the winning company, NRG Systems, Inc.In January 2003, Vermont Business Magazine named NRG Systems, Inc. the second fastest growing company in Vermont over the past ten years. For more than 20 years, NRG Systems, Inc., has served one of the world’s thriving industries: wind energy. With revenue growth of 1,166% since 1992, NRG continues to grow an average of 30% each year. In five years, sales are expected to reach $40 – $50 million through serving a diverse customer base comprised of electric utilities, wind farm developers, research institutes, government agencies, universities, and homeowners.On the homefront, NRG contributes to the Vermont economy by providing well-paying, high-skill jobs. NRG currently employs 35 people in its Hinesburg facility; in five years, its workforce is expected to grow to 90 individuals. A new 46,000 square foot corporate headquarters is planned. A model for sustainable businesses in Vermont, the building will be powered by renewable energy and will incorporate the latest technology in energy efficient design. Every day, NRG works with the goal “to manage a well-run, profitable company where employees feel good about coming to work.”Past Deane C. Davis Oustanding Business of the Year award winners include Wild Apple Graphics, Smugglers’ Notch Resort, Cabot Creamery, and Waitsfield & Champlain Valley Telecom.The award presentation kicked off EXPO, May 21 and May 22 at the Sheraton Burlington Hotel and Conference Center. With nearly 3000 attendees, 200 exhibitors, and over two dozen business seminars and networking events, Northern New England’s largest business trade show is the annual reunion of the Vermont Business community. The theme of the 2003 EXPO was “Entrepreneurship, Innovation, Excellence: Survive and Thrive in the Vermont Economy.”last_img read more

first_imgHanover, NH, February 9, 2005 – UK Architects, PC, has finalized a contract with the Sugar River Redevelopment Company, LLC, to be the Architect of Record for the rehabilitation of the Peterson and Wainshal Mill Buildings in Claremont, New Hampshire. UK Architects will be working in collaboration with the Design Collective, an architectural firm from Baltimore, Maryland. The Design Collective will provide master planning and schematic design services for the project, and UK Architects will be responsible for implementing the design and overseeing the construction. This professional collaboration brings expertise in the area of mill building rehabilitation, along with local knowledge and project oversight experience, to Sugar River Redevelopment and the City of Claremont.The Peterson and Wainshal Mill Buildings were originally part of the Monadnock Mills Company founded in 1846, and were used primarily for the manufacture of cotton goods. The Wainshal Building was constructed in 1853 and is one of the few remaining examples of mill construction with a monitor-style roof that admits light or air into the space. In 1915, the building was extended with a rear addition that approximately doubled its size. The Peterson Building was built in 1892, and at some later date, an upper story was added to it. The Monadnock Mills Company closed its mills in the 1930s, and the buildings, for the most part, have remained unused since that time. Both buildings are classic examples of New England brick mill construction and are integral to the architecture of Claremonts historic mill district.The developer, Sugar River Redevelopment Company of Burlington, Vermont, is tentatively proposing a mixed-use redevelopment of the two existing buildings into residential condominiums and commercial offices. The structures large windows, wood interior columns and beams, and brick walls lend themselves to interesting architectural interiors. The design team, the developer, and City officials will begin preliminary planning and design in the latter half of February.UK Architects, PC, led by principals Hunter Ulf, AIA, and Chris Kennedy, AIA, is located in Hanover, New Hampshire and provides architectural services that make a lasting difference in communities and the environment through their work with residential, commercial, and institutional clients. Founded in 1992, a sample of the firms recent projects include the Upper Valley Haven in White River Junction, Vermont, the renovation of the Bridgman Building in downtown Hanover, New Hampshire, and the Billings Common Office Park in Wilder, Vermont.# # #Contact: M. Hunter Ulf, AIA UK Architects, PC 23 South Main Street, Suite 2A Hanover, NH 03743 Phone: 603-643-8868, x123 Fax: 603-643-5958last_img read more

first_imgColchester, VT: Summer is growing season for food, and this year, it’s the same for MyWebGrocer, the online world’s leading services provider to grocery retailers. MyWebGrocer is expanding in two ways by adding additional staff to their home office in Colchester, Vermont, and by opening a new office in Charlotte, North Carolina.In describing the new hires, MyWebGrocer CEO Rich Tarrant said, “Pardon the pun, but you could say we had a shopping list of the types of people we wanted to hire, and we not only got everything on it, we got more. I always say that even though we employ and rely on the latest technologies, it’s top-notch people who drive our success.”The Operations Department has added two new employees. As Operations Analysts, Jessica Bilodeau and Clare Walker are in charge of customer support, product maintenance, and store setup. “We pride ourselves on our customer service,” said Director of Operations Heather Drake, “and Jessica and Clare are people our customers already love working with.”Sarah Masuzzo has joined the MyWebLink team as Marketing Coordinator upon her graduation from Worcester State College in Worcester, Massachusetts, with her Bachelor of Arts in Communications. Sarah will handle public relations and ad operations, as well as marketing and sales support for MyWebLink, a division of MyWebGrocer.In addition, Laura Sutherland has joined MyWebGrocer as Vice President of Strategic Accounts after a very successful career at News America, and will also be in charge of opening the company’s new office in Charlotte, NC. Sutherland will work with the sales team to provide MyWebGrocer’s new and existing customers with the latest on-line technology, tools and services. Curt Alpeter, Senior Vice President of Sales said, “In our business, continual innovation is what gives us an edge. Laura will help us maintain that edge in providing the best and most current web solutions to our clients.”Tarrant expressed excitement about MyWebGrocer’s steady expansion, “The growth we have seen over the last few years is exciting. When we started this company in 1999, we were a small business with a single idea: to bring e-commerce to the grocery vertical. As I look at us today, we have become the leading provider of internet solutions to the grocery vertical and we continue to expand our offerings with new applications- most recently social networking tools and video applications. It gives me great pride that through it all we have kept the same core values in place; providing our customers with the latest technology and services available.”About MyWebGrocer:Founded in 1999 by Rich Tarrant, MyWebGrocer is a privately held company based in Burlington, Vermont, and is the industry leader in e-commerce and Internet marketing solutions to grocery retailers nationwide. “We Make Online Shopping Work,” by providing web site design and hosting, email, online circular, recipe, personalization and e-commerce services to more than 80 major retail grocery chains nationwide. With close to a decade’s worth of experience, MyWebGrocer has the tools and resources to make your web site and e-commerce initiatives efficient, effective and profitable. For more information please visit is external).About MyWebLink:MyWebLink builds the convergence of convenience and commerce, providing the tools on which a progressive business is built. Leading retail organizations like Kraft Foods, Campbell’s, NetGrocer, and Newman’s Own rely on MyWebLink to power business-critical applications that increase revenue, reduce costs and streamline operations. For more information please visit is external).last_img read more

first_imgMarch contracts for future construction in Vermont and New Hampshire soared in March 2009 as the federal stimulus package brought hundreds of millions of dollars into the two states for highway and bridge construction, according to the McGraw Hill Construction reports. Vermont March transportation contracts were $275.2 million, with the total for the first quarter of 2009 up 1,311.1 percent to $292.1 million. The transportation total for the first quarter is slightly more than the total for all of 2008 or 2007. New Hampshire’s March transportation contracts were $114.5 million. Its first quarter total was up 1,088.6 percent to $624 million, an increase of more than $100 million from all of 2008, or $200 million more than all of 2007.?The other two construction categories for both states – housing and commercial/industrial – saw continued declines in both states. Vermont was down 71 percent (to $25.7 million) in future contracts for housing and down 10 percent (to $23.5 million) in commercial for the first quarter compared to the first quarter of 2008. New Hampshire’s housing contracts were down 57 percent (to $61.1 million) and commercial was down 42 percent ($81 million) in the first quarter. AttachmentSize Dodge VT.pdf109.64 KB Dodge NH.pdf109.9 KBlast_img read more

first_img### Governor Jim Douglas and Secretary of Administration Neale Lunderville today announced the appointment of Caroline S. Earle as Commissioner of Human Resources. Ms. Earle currently serves as Chief of the Civil Litigation Division in the Office of the Attorney General.?“We are very excited to have Caroline join the team,” said Governor Douglas. “She brings a strong intellect, tremendous energy and enormous capacity to this important role.? She is the right fit for the department at this critical time.”“Caroline is a proven leader with the ideal mix of experience, smarts and tenacity,” said Lunderville. “She will be integral to our efforts to build a strong workforce while addressing difficult budget challenges.”?“It has been a privilege to serve in the Attorney General’s Office working on a range of important and complex cases,” said Ms. Earle.? “I’m looking forward to working with Governor Douglas and his team on this new and exciting challenge.”“Our state workforce is one of our greatest assets,” continued Earle. “Despite the many budget challenges we face, we must explore ways to develop skills and training so that employees are not just working harder, but working smarter.”Earle will come to the Department of Human Resources after serving two years as Chief of the Civil Litigation Division.? Earle has practiced general civil litigation, including employment law, with the firms of Wilson & White, P.C. and Legus & Bisson, PLC.? Earle is a current member of the Board of Bar Examiners, and has served as past President of the Washington County Bar Association and on the Vermont Bar Association Bar Foundation.?Earle graduated from McGill University, B.A. First Class Honors, in 1990, and then earned a J.D., cum laude, from Indiana University School of Law in 1993.? She was a Notes Editor on the Indiana Law Journal.?Earle lives in Barre with her three children.? Her appointment will begin September 28, 2009.Source: Governor’s office.last_img read more

first_imgVermont personal income tax withholding continues to under perform, leading to general caution as the end of the fiscal year nears on June 30. However, Secretary of Administration Neale F Lunderville said it appears that state tax revenues will be on target for the first time in two years. Lunderville released the May 2010 General Fund Revenues today. May is the 11th month of fiscal year (FY) 2010. General Fund revenues totaled $51.70 million for May 2010. They were -$5.54 million or -9.67 percent below the $57.24 million consensus revenue forecast for the month. These May results reduced the year to date General Fund performance of $934.98 million to +$1.97 million, or +0.21 percent ahead of target.The monthly targets reflect the revised Fiscal Year 2010 Consensus Revenue Forecast approved by the Emergency Board at their January 13, 2010 meeting. Statutorily, the State is required to revise the Consensus Revenue Forecast two times per year, in January and July; the Emergency Board may schedule interim revisions if deemed necessary. The next Emergency Board meeting is tentatively scheduled for July 15, 2010.Personal Income Tax (PI) receipts are the largest single state revenue source, and are reported Net-of-Personal Income Tax refunds. Personal Income Tax receipts for May of $15.26 million were -$6.58 million or -30.14% short of the monthly target of $21.85 million.Secretary Lunderville said: Personal Income Tax withholding, estimated payments, and refunds all fell short of target for May. We had hoped that the above target performance in Personal Income Taxes last month would reduce the chance of a negative revenue surprise during May and June. However, the continued weakness, especially in PI Withholding which has finished below target every month since the January forecast revision causes some concern as to whether we will be able to achieve the June target in this major revenue category.Corporate Income Taxes, which are also reported net-of refunds, were above target for May with receipts of $2.13 million against a target of $1.37 million or +$0.76 million (+55.40%).The consumption taxes saw mixed results; Sales & Use Tax of $15.50 million was above target by +$0.25 million (+1.66%), while Rooms & Meals Tax receipts of $7.12 million slipped below target by -$0.08 million (-1.05%) for May.The year to date results for the four major General Fund categories are as follows: Personal Income Tax, $430.62 million (-2.16%); Sales & Use Tax, $191.17 million (+0.47%); Corporate, $61.23 million (+16.19%); and Meals & Rooms Tax, $109.39 million (+1.29%).The remaining tax components include Insurance, Inheritance & Estate Tax, Real Property Transfer Tax, and Other (which includes: Bank Franchise Tax, Telephone Tax, Liquor Tax, Beverage Tax, Fees, and Other Taxes). The results for the month of May were as follows: Insurance Tax, $6.54 million (+26.56%); Estate Tax, $0.61 million (-41.78%); Property Transfer Tax, $0.58 million (+18.81%); and Other , $3.97 million (-18.75%). Year to date results for these categories were: Insurance Tax, $52.96 million (+0.56%); Estate Tax, $13.59 million (-10.75%); Property Transfer Tax, $6.98 million (+5.30%); and Other , $69.04 million (+2.43%).Transportation FundSecretary Lunderville also reported on the results for the non-dedicated Transportation Fund Revenue for May. Total non-dedicated Transportation Fund receipts of $19.01 million for the month or +$0.36 million (+1.94%) were above the monthly target for May of $18.65 million. The year to date non-dedicated Transportation revenue was $189.55 million versus the target of $188.18 million (+$1.36 million, +0.72%).May s results were mixed, as were April s. Gasoline Tax, Diesel Fuel Tax, and Motor Vehicle Fees saw above target results; Motor Vehicle Purchase & Use and Other fell below target for the month. The Transportation Fund revenue results for May were: Gasoline Tax, $4.63 million or +3.40% above target; Diesel Tax, $1.20 million or +22.13% above target; Motor Vehicle Purchase & Use Tax, $4.06 million or -4.10% below target; Motor Vehicle Fees, $7.79 million or +5.92% ahead of target; and Other Fees, $1.33 million or -16.89% below the monthly target.The May year to date Transportation Fund revenue results were: Gasoline Tax, $55.93 million or +0.46% ahead of target, Diesel Tax, $13.03 million or -1.14% below target; Motor Vehicle Purchase & Use Tax, $40.62 million or +3.42% above target; Motor Vehicle Fees, $63.89 million or +0.93% above target; and Other Fees, $16.07 million or -4.05%, short of target. The Transportation Fund continues to exceed the target for FY 2010 and the results for the same period in FY 2009. Indications are that the vehicle sales have begun to rebound since the fall of 2009 and we are reasonably confident that this trend will continue into June, said Secretary Lunderville.Lunderville also reported on the results for the Transportation Infrastructure Bond Fund ( TIB ). TIB Fund Gas receipts for May were $1.19 million or 2.53% ahead of target; year to date ($12.06 million) remained below target by -0.82%. The TIB Fund Diesel receipts were $0.12 million or +4.38% above target for the month; year to date TIB Diesel receipts were $1.22 million or +37.62% ahead of target. The TIB Fund receipts are noted below the following table:Education FundThe the non-Property Tax Education Fund revenues (which constitute approximately 11% of the total Education Fund sources) were released today by Secretary Lunderville. The non-Property Tax Education Fund receipts for May totaled $11.54 million, or +$0.02 million (+0.16%) above the $11.52 million target for the month. Year to date, Education Fund revenues were $133.93 million or +0.70% ahead of target.The individual Education Fund revenue component results for May were: Sales & Use Tax, $7.75 million, or +1.66% ahead of target; Motor Vehicle Purchase & Use Tax, $2.03 million or -4.10%; Lottery Transfer, $1.75 million or -1.76%; and Education Fund Interest, $0.01 million against a target of $0 million. Year-to-date results were: Sales & Use Tax, $95.58 or +0.47%; Motor Vehicle Purchase & Use Tax, $20.31 million or +3.42%; Lottery Transfer, $17.93 million or 1.04%; and Education Fund Interest, $0.10 million or +8.41%.ConclusionSecretary Lunderville concluded, We remain cautious due to the fragility of the economic recovery, especially in light of the European situation and mixed indicators of consumer confidence and spending for May. The risk of the economy slipping into a double-dip recession remains. We still have a long climb back to fiscal health with continued pressure on the state budget and the impending loss of federal stimulus monies. Important indicators, such as personal income tax withholding, have not performed as expected. That said, we are pleased that for the first time in two fiscal years our current revenue forecast seems to be holding. We hope to finish the 2010 fiscal year close to target.Source: Lunderville’s office. 6.15.2010last_img read more

first_imgAllEarth Renewables, Inc.,Today, renewable energy advocate Tom Weis completed his 10-week “Ride for Renewables” at the Jefferson Memorial after traversing 11 states in his futuristic-looking “rocket trike.” He is promoting 100% renewable electricity for the U.S. in ten years, a goal first proposed by former Vice President Al Gore.”Almost everyone I met during this ride wants to see a modern day, green energy moon shot for America,” said Tom Weis, President of Climate Crisis Solutions. Citing massive unemployment, energy dependence, economic turbulence and climate instability as top concerns driving this public desire, he said, “The solution is an American-led green industrial revolution.”Ride backer Bill McKibben, founder of and author of Eaarth, said, “Politicians won’t lead until we build a citizens movement powerful enough to challenge the might of the fossil fuel industry. That’s what this ride is building towards.”Phil Radford, Executive Director of sponsor Greenpeace, said, “What stands in the way of clean energy for all is the dirty money in politics from the oil and coal industries.”Ride sponsor Lester Brown, President of Earth Policy Institute and author of World on the Edge, warned that emergency action at war-time speed is needed to save civilization from a deepening climate crisis: “During World War II, America completely restructured its industrial economy not in decades, but in months, and we can do it again.”David Blittersdorf, CEO of ride sponsor AllEarth Renewables, Inc., called for greater leadership by the renewable energy industries. “It’s time for America’s renewable energy trade associations to step up and lead by embracing this bold vision of 100% renewables by 2020,” he said.World Future Council sponsor Randy Hayes, pushing for U.S. renewable energy laws that would allow Americans to profit from selling green energy to the grid, said, “Let’s shift from a nation of energy guzzlers to a nation of clean energy producers.”Weis hopes to meet with the President and First Lady, and key leaders of Congress, to share what he has learned on Main Street America. A video blog documenting his journey can be seen at: is external).Source: AllEarth Renewables, Inc.?12.7.2010last_img read more

first_imgby?Anne Galloway? 29, 2011?Darcie Johnston, a political campaign consultant for GOP candidates, is galvanizing support ‘ and money ‘ for a campaign to kill the universal health care bill that just passed in the House. Johnston started her organization Vermonters for Health Care Freedom, a ‘free’ market group that opposes a ‘single-payer’ style medical coverage system for the state, just a few weeks ago as a Facebook campaign.Her mini movement has ‘ thanks to money from an unnamed source ‘ migrated from the somewhat limited realm of social networking sites to a website and a burgeoning list of 200 donors, ‘friends’ and supporters. Johnston, who is the volunteer prime mover of a faction of disaffected conservatives, rallied the anti-single payer flag and got dozens of opponents of H.202, the universal health care bill, to come to the Statehouse last weekend to decry the evils of government-controlled payment systems for medical care.Johnston has formed a 501(c)(4) to collect anonymous donations for the cause, and just today launched a website featuring a V-shaped, ultra-patriotic logo wrapped in the American flag and crowned with three gold stars.DOYLE POLL SHOWS SUPPORT FOR VERMONT YANKEESen. Bill Doyle, R-Washington, a political science professor at Johnson State College, has released the results of his annual town meeting survey. Though the survey is unscientific, it’s considered to be a indicator of public opinion. This year about 15,000 Vermonters filled out the survey, representing 142 cities and towns. Doyle says it’s one of the biggest responses in the 42 years he’s conducted the survey.Forty-five percent of respondents supported renewing Entergy Corp.’s license to operate Vermont Yankee, while 41 percent said no and 14 percent were unsure.Doyle also asked Vermonters whether ‘physician-assisted suicide’ should be legalized. Fifty percent of those polled said yes; 37 percent said no; and 13 percent weren’t sure.Here is a rundown on some of the ‘yes votes.’Tougher DUI law 75 percentExpand bottle deposit 79 percentPay more for locally grown foods 63 percentRequire use of motorcycle helmets 90 percentGOLD PLATE DINNER FOR DEMSIt’s never too early to start raising money for the next campaign cycle, which is now 13 months away. Gov. Peter Shumlin began tapping donors just eight weeks into his first term as governor. The Democratic House Campaign isn’t far behind. On April 7, Democratic Party devotees will have an opportunity to break bread with House Speaker Shap Smith and three other members of his leadership team at the Chef’s Table in Montpelier for $500 a plate. Want cocktails with that? Donate $1,000 to the party and you can sip away at martinis, too.NRA TARGETS ‘RIGHT’ ANSWERLast weekend the National Rifle Association called my husband (they wouldn’t speak to me) as part of a telephone survey and wanted to know if he was concerned about the bureaucrats taking away his right to bear arms.?The caller then played a recorded message from the CEO, Wayne LaPierre. The message? A secret U.S. Senate subcommittee is looking to hit the delete button on the right to bear arms. And they asked what my husband (who happened to purchase a hunting rifle for our son a few years ago) would do about it. My husband wasn’t aware that secret Senate subcommittees could change the Constitution without state ratification.When he replied that he was a proponent of gun control, the caller, a self-professed NRA member, said ‘Oh. That’s alright then. Good-bye.’ Survey completed.It wasn’t clear why the NRA would make such a concerted effort to reach out to Vermonters.?Maybe it’s because as Kate Robinson reported earlier this month,?Vermont has among the most liberal ‘carry’ gun laws in the nation for the carrying of concealed or visible weapons’in a car or on your person’without a permit. ‘There are no gun licensing or registration requirements, no waiting period to buy a gun, no requirement for firearms safety training before you can buy a gun, private sales do not require records and there are no state laws limiting who can buy a gun,’ Robinson wrote.The bill the NRA was worried about, H.83, which proposed stiffening penalties for gun owners whose guns have been used in teenage suicides, has gone nowhere this year.H. 244, however, a bill allowing Vermont law enforcement officials?to use gun silencers was introduced in February.THE GRASS ISN’T GREENER IN VERMONTJohn Gregg reports this week in the Valley News that population growth in towns along the Connecticut River is decidedly lopsided. More people are moving to sort of tax-free New Hampshire (the Granite state does charge a 5 percent tax on unearned income) than the Green Mountain State. Gregg analyzed Census reports as the basis for his story, which appeared in theSunday edition of the Valley News.? Anne Galloway?is editor of vtdigger.orglast_img read more

first_imgVermont Country Store,The proprietors of The Vermont Country Store, one of America’s most beloved retail experiences, will join the legendary daytime TV host Martha Stewart to talk recipes and share the success story behind their three generation family business in a special segment of The Martha Stewart Show. Lyman Orton and his three sons, Cabot, Eliot and Gardner Orton will be with Martha for an entire segment highlighted by the baking of a Vermont Country Store food favorite, the Maple Mountain Crunch Cake.The Vermont Country Store proprietors are l-r; Eliot, Lyman, Cabot and Gardner Orton. (Photo: Business Wire)‘We are truly pleased to be part of the Martha Stewart Show in addition to her magazine and website channels,’ Eliot Orton, one of the proprietors of The Vermont Country Store said. ‘She is, undoubtedly, one of the most respected lifestyle influencers in the world and millions rely on her sense of style and taste. From food to fashion, Martha is all about how to be comfortable while being practical. And in many ways, that’s exactly what The Vermont Country Store is all about as well.’The show, which is scheduled to premiere Thursday, November 17 on the Hallmark Channel, will also feature a representative selection of the unique and high-quality products that are customer favorites including Evening in Paris Perfume, Orton Cookie Buttons and 100% Pure Vermont Maple Syrup.In the interview portion, Martha will ask brothers Cabot, Eliot and Gardner Orton to share some insight into the workings behind The Vermont Country Store, and how their family was able to transform a 1946 upstart catalog business into a beloved national retail and online enterprise today.The Martha Stewart Show with the Ortons and The Vermont Country Store segment will air on Thursday, November 17th?at 10am EST on The Hallmark Channel. It will be rebroadcast at 2pm EST the same day and again at 1pm EST on November 18th. It will also be available on line at? is external).About The Vermont Country Store?In 1946, Vrest and Ellen Orton printed their first catalogue’just 12 pages and 36 products’and mailed it to the folks on their Christmas card list and sixty-five years later continues to be Orton family owned. As Purveyors of The Practical and Hard to Find, The Vermont Country Store operates as a multichannel merchant through its mailed catalogs, e-commerce web site and two retail stores in Weston and Rockingham, Vermont. For more information, is external).MANCHESTER CENTER, Vt.–(BUSINESS WIRE)–last_img read more

first_img FacebookTwitterLinkedInEmailPrint分享Energy Voice:Statoil has made a slight but incredibly significant change to its brand. It starts the year as a “energy company” leaving its “oil company” persona behind.Energy Voice exclusively sat down with chief executive Eldar S?tre to discuss the shift in strategy. “The future is going to be low carbon. It has to be,” he said.“Our industry must be involved in this. The sector is an important part of the problem and the solution, when it comes to a low carbon future, so we have to take responsibility. But we also have to translate this into what are the implications and opportunities from a business perspective. This is something that is happening and the industry must be part of this. I’ve made a choice – we don’t see this as a problem.“Our renewables business has been even more integrated into our existing business, so we define ourselves firmly as an energy company,” S?tre said. “We do oil and gas, but we are an energy company. Renewables is not something we do on the side.“We have indicated we might spend between 15% to 20% of our capital expenditure by 2030 for renewables and we also indicated the type of returns we expect, because that’s important for our shareholders. They need to see returns. We’re talking about a 9% to 11% rate of return on these types of investments.”More: Exclusive: Statoil CEO Eldar S?tre on the industry’s “energy transition On the Blogs: Statoil CEO Embraces Renewables, Low-Carbon Energy Futurelast_img read more