HOUSTON--(BUSINESS WIRE)--WM (NYSE: WM) announced today that it will redeem the entire outstanding principal amount of its 2.90% Senior Notes due 2022 (the “Notes”). The redemption date for the Notes is June 15, 2022 (the “Redemption Date”). The aggregate principal amount of the Notes outstanding is $500 million. The redemption price for the Notes is equal to 100% of the aggregate principal amount of the Notes, plus accrued and unpaid interest on the Notes to the Redemption Date.

Notices of redemption are being sent to all currently registered holders of the Notes. For more information, holders of the Notes may call The Bank of New York Mellon Trust Company, N.A., the trustee for the Notes, at 1-800-254-2826. This press release is not an offer to sell or a solicitation of an offer to buy any securities.

ABOUT WM
WM (WM.com) is North America’s largest comprehensive waste management environmental solutions provider. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renewable energy, WM provides environmental solutions to and collaborates with its customers in helping them achieve their sustainability goals. WM has the largest disposal network and collection fleet in North America, is the largest recycler of post-consumer materials and is the leader in beneficial reuse of landfill gas, with a growing network of renewable natural gas plants and the most gas-to-electricity plants in North America. WM’s fleet includes nearly 11,000 natural gas trucks – the largest heavy-duty natural gas truck fleet of its kind in North America – where more than half are fueled by renewable natural gas. To learn more about WM and the company’s sustainability progress and solutions, visit Sustainability.WM.com.

FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release are discussed in WM’s most recent Annual Report on Form 10-K and subsequent reports on Form 10-Q.

Analysts
Ed Egl
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All economic and financial indicators grew:

• Consolidated turnover of €440.9 million (+25.1%);
• EBITDA of €70.9 million (€59.6 million in 2021);
• EBIT of € 57.7 million (€47.9 million in 2021);
• Profit before tax amounts to € 59.4million (€47.6 million in 2021).

TURIN, Italy--(BUSINESS WIRE)--Today, the Board of Directors of Reply S.p.A. [EXM, STAR: REY] approved the results as at 31 March 2022.

Since the beginning of the year, the Group has recorded a consolidated turnover amounting to €440.9 million, an increase of 25.1% compared to the corresponding data for 2021.

All indicators are positive for the period. In the first quarter of 2022 the consolidated EBITDA was €70.9 million compared to €59.6 million in 2021, equal to 16.1% of the turnover.

EBIT, from January to March, was €57.7 million (€47.9 million in 2021), and is equal to 13.1% of the turnover.

The profit before tax, from January to March, was €59.4 million (€47.6 million in 2021), equal to 13.5% of the turnover.

The net financial position of the Group on 31 March 2022 is also positive by 279.7 million. The net financial position on 31 December 2021 was positive for €193.2 million.

The comparison with the figures recorded at the end of March 2020 is even sharper. Over the past 24 months, first-quarter turnover increased by 39.1%, EBITDA by 48.8%, period EBIT by 51.6% and pre-tax profit by 74.9%. Finally, the net financial position generated a positive balance of EUR 120.4 million.

“The first quarter of 2022 - stated Mario Rizzante, Reply's Chairman - was very positive, both in terms of revenue growth and margin. These results were achieved thanks to our exclusive focus on new technological niches and the high efficiency of our network model. The combination of these two factors has allowed us to continue to grow, despite the significant uncertainty of recent months."

"Today, - continues Mario Rizzante - the tail end of the pandemic, together with the dramatic events in Ukraine, are heavily influencing economic trends, defining a market dynamic that will depend mainly on how the crisis on Europe's eastern borders evolves."

Mario Rizzante concludes: "For the time being, the future, therefore, remains uncertain. In any case, the process of transformation towards a new digital economy, which began in 2020, cannot be stopped and opens up opportunities for growth and development for companies like ours. High-speed communication software infrastructures, e-commerce, new immersive digital experiences and a strong acceleration towards automation and green tech represent the key elements of the economy of the coming years."

The manager responsible for preparing the company's financial reports, Giuseppe Veneziano, states in accordance with Paragraph 2 of Article 154-bis of the Consolidated Finance Act, that the accounting information contained in this press release corresponds to the company's records, ledgers and accounting entries.

Reply
Reply [EXM, STAR: REY, ISIN: IT0005282865] specialises in the design and implementation of solutions based on new communication channels and digital media. Reply is a network of highly specialised companies supporting key European industrial groups operating in the telecom and media, industry and services, banking, insurance and public administration sectors in the definition and development of business models enabled for the new paradigms of AI, cloud computing, digital media and the Internet of Things. Reply services include: Consulting, System Integration and Digital Services www.reply.com

This press release is a translation, the Italian version will prevail.

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Third Quarter 2022 Revenue Increased 89% to $13.2 Million Representing 15th Consecutive Quarter of Year-Over-Year Revenue Growth

Received $20.5 Million in New Purchase Orders During Third Quarter with Customer Order Backlog at Record $38.6 Million

Strategic Initiatives Drive Increased Backlog Conversion, Higher Inventory Turns & Improved Gross Margins Resulting in Progress to Profitability

Management to Host Conference Call Today at 4:30 p.m. Eastern Time

VISTA, Calif.--(BUSINESS WIRE)--Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, has reported its financial and operational results for the fiscal third quarter ended March 31, 2022.

Key Financial & Operational Highlights for the Third Quarter Fiscal Year 2022

• Revenue increased 89% to $13.2 million in Q3’22 compared to Q3’21 revenue of $7.0 million.
• Achieved 15th consecutive quarter of year-over-year revenue growth.
• Received $20.5 million in customer purchase orders for deliveries in coming months from both existing and new customers.
• Customer order backlog increased to $38.6 million as of March 31, 2022.
• Introduced three new products in March 2022 at MODEX material handling trade show:
  • L36 lithium-ion battery pack, a 36-volt option for 3-wheel forklifts;
  • C48 lithium-ion battery pack for Automated Guided Vehicles (AGV) and Autonomous Mobile Robots (AMR); and
  • S24 lithium-ion battery pack providing twice the capacity (210Ah) for Walkie Pallet Jacks for heavy duty applications
• Appointed Cheemin Bo-Linn, a global technology industry veteran, to the Board of Directors as an independent director, as a member of the Audit Committee, Compensation Committee, and as Chair of the Nominating and Governance Committee. Ms. Bo-Linn’s appointment as an independent director increases the total number of board members to five, with three independent directors.
• Implementing Strategic Supply Chain & Profitability Improvement Initiatives to accelerate the path to cash flow breakeven, including:
  • Identifying more competitive carriers to reduce shipping costs;
  • Utilizing lower cost steel suppliers that meet required specifications;
  • Improving manufacturing capacity and production processes (including implementing Lean Manufacturing) to increase throughput, reduce the time to fulfill customer orders and improve gross margins;
  • Increasing inventory turns from 2.0x to 2.5x during the quarter;
  • Introducing new product designs to lower costs, simplify part count and cost, and improve serviceability;
  • Expanded customer base, particularly among Fortune 500 companies.

CEO Commentary

“The third quarter of fiscal year 2022 produced a record revenue of $13.2 million for the Company, continuing our 15th consecutive quarter of year-over-year revenue growth,” said Ron Dutt, Chief Executive Officer of Flux Power.

“Ongoing customer demand produced $20.5 million in purchase orders received from new and existing customers. We are highly focused on the timely shipment of our record backlog of $38.6 million as of March 31, 2022, which has been helped by improvement in sourcing actions to mitigate part shortages and to increase confidence in future supplier performance. Beyond our current backlog, we received a non-binding multi-year LOI (letter of intent) in the third quarter from one of our Fortune 100 customers; they want to preserve build slots as part on their ongoing fleet conversion to lithium.

“During the third quarter, we introduced new product designs to respond to customer requests. Some of the improvements included higher capacities for extra-long and demanding shifts, easier servicing, lower total cost of ownership, and other features to solve a variety of existing performance challenges of customer operations. We continue to introduce new product designs for margin enhancement, part commonality and improved serviceability.

“With ongoing global supply chain disruptions, we have been improving production process improvements and better supply chain management. We are now working to leverage increased pack volumes to re-source steel and board components to low cost regions and to high volume local suppliers; and also identify more competitive carriers to reduce shipping costs. We plan to ship backlog and reduce inventory levels; as of the end of the third quarter, inventory levels had not yet decreased materially, but we anticipate reductions in the current quarter as we get traction on our plan.

“Looking ahead, we continue to focus on expanding sales of our energy storage solutions to new and existing customers who want the benefits of lithium-ion technology. We continue to see customer interest in our SkyBMS Telematics product for remote fleet management and monitoring.

“Combined with our strong purchase orders, record backlog and improving margins, we believe our growth trajectory in 2022 is on track for another record revenue year despite supply chain disruptions. I look forward to providing additional updates in the months to come,” stated Dutt.

Third Quarter Fiscal Year 2022 Financial Results

• Revenue for the fiscal third quarter of 2022 increased by 89% to $13.2 million compared to $7.0 million in the fiscal third quarter of 2021, driven by increased sales volumes and models with higher selling prices.
• Gross profit for the fiscal third quarter of 2022 increased to $1.9 million compared to a gross profit of $1.7 million in the fiscal third quarter of 2021. Gross margin was 14.6% in the fiscal third quarter of 2022 as compared to 24.1% in the fiscal third quarter of 2021, impacted by higher costs for steel, electronic parts, and common off the shelf parts during the quarter, not yet offset by pricing increases which were implemented after commitment to quotes and orders.
• Selling & Administrative expenses increased to $3.9 million in the fiscal third quarter of 2022 from $3.1 million in the fiscal third quarter of 2021, reflecting increases in outbound shipping costs, personnel expenses related to new hires and temporary labor, and an increase in insurance premiums.
• Research & Development expenses increased to $1.7 million in the fiscal third quarter of 2022, compared to $1.5 million in the fiscal third quarter of 2021, primarily due to expenses related to development of new models and UL certifications.
• Net loss for the fiscal third quarter of 2022 increased to $3.7 million from a net loss of $1.7 million in the fiscal third quarter of 2021, principally reflecting increased operating expenses, partially offset by an increase in gross profit.
• Cash was $3.8 million at March 31, 2022, as compared to $4.7 million at June 30, 2021. Our working capital line of credit outstanding balance was $3.5 million at March 31, 2022. Cash requirements during the quarter were higher due to the pre-purchase of inventory to support increasing sales orders.

Financial Management Commentary

“Customer demand was strong during the fiscal third quarter, reflected in our record revenue which increased by $5.5 million from the second fiscal quarter. Our strategic supply chain and profitability improvement initiatives, including an expanded second shift and implementing lean manufacturing processes, have resulted in greater throughput with inventory turns improving from 2.0x to 2.5x as we monetize our backlog, while keeping inventory levels relatively flat.

“We are implementing these initiatives to reduce our cash burn and improve gross margins, all serving to offset any continuation in supply chain disruption. An additional positive development includes a $4 million signed commitment on our $5 million credit facility agreement of May 11, 2022. We believe these developments are instrumental in achieving our near-term goal of profitability.” concluded Dutt.

Third Quarter Fiscal Year 2022 Results Conference Call

Flux Power CEO Ron Dutt and CFO Chuck Scheiwe will host the conference call, followed by a question-and-answer session. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.

To access the call, please use the following information:

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.

The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1542868&tp_key=96dad790ed and via the investor relations section of the Company's website here.

A replay of the webcast will be available after 7:30 p.m. Eastern Time on May 12, 2022, through August 12, 2022.

About Flux Power Holdings, Inc.

Flux Power (NASDAQ: FLUX) designs, manufactures, and sells advanced lithium-ion energy storage solutions for electrification of a range of industrial and commercial sectors including material handling, airport ground support equipment (GSE), and stationary energy storage. Flux Power’s lithium-ion battery packs, including the proprietary battery management system (BMS) and telemetry, provide customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions. Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. For more information, please visit www.fluxpower.com.

Forward-Looking Statements

This release contains projections and other "forward-looking statements" relating to Flux Power’s business, that are often identified using "believes," "expects" or similar expressions. Forward-looking statements involve several estimates, assumptions, risks, and other uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Such forward-looking statements include impact of COVID-19 on Flux Power’s business, results and financial condition; Flux Power’s ability to obtain raw materials and other supplies for its products at competitive prices and on a timely basis, particularly in light of the potential impact of the COVID-19 pandemic on its suppliers and supply chain; the development and success of new products, projected sales, deferral of shipments, Flux Power’s ability to fulfill backlog orders or realize profit from the contracts reflected in backlog sale; Flux Power’s ability to fulfill backlog orders due to changes in orders reflected in backlog sales, Flux Power’s ability to obtain the necessary funds under the credit facilities, Flux Power’s ability to timely obtain UL Listing for its products, Flux Power’s ability to fund its operations, distribution partnerships and business opportunities and the uncertainties of customer acceptance and purchase of current and new products, and Flux Power’s ability to negotiate and enter into a definitive agreement in connection with the Letter of Intent. Actual results could differ from those projected due to numerous factors and uncertainties. Although Flux Power believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, they can give no assurance that such statements will prove to be correct, and that the Flux Power’s actual results of ‎operations, financial condition and performance will not differ materially from the ‎results of operations, financial condition and performance reflected or implied by these forward-‎looking statements. Undue reliance should not be placed on the forward-looking statements and Investors should refer to the risk factors outlined in our Form 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov/edgar. These forward-looking statements are made as of the date of this news release, and Flux Power assumes no obligation to update these statements or the reasons why actual results could differ from those projected.

Flux, Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.

Follow us at:

Blog: Flux Power Blog
News Flux Power News
Twitter: @FLUXpwr
LinkedIn: Flux Power

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External Investor Relations:
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MZ Group - MZ North America
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www.mzgroup.us

NEW YORK--(BUSINESS WIRE)--Goldman Sachs MLP and Energy Renaissance Fund (the “Fund”) (NYSE: GER) is announcing its quarterly distribution of $0.175 per common share. The distribution is payable on the date noted below.

The distribution schedule is as follows:

It is currently anticipated that a portion of this distribution will be treated for tax purposes as a return of capital, however, the final characterization of such distribution will be made in early 2023 when the Fund can determine its earnings and profits for the full year. The final tax status of the distribution may differ substantially from this preliminary information.

In addition, portfolio holdings as of March 31, 2022, as well as additional information regarding the Fund, can be accessed through the Goldman Sachs Asset Management Closed-End Fund landing page at www.GSAMFUNDS.com/cef.

Goldman Sachs MLP and Energy Renaissance Fund

Goldman Sachs MLP and Energy Renaissance Fund is a non-diversified, closed-end management investment company managed by Goldman Sachs Asset Management’s Energy & Infrastructure Team, which is among the industry’s largest MLP investment groups.

The Fund began trading on the NYSE on September 26, 2014. The reorganization of the Goldman Sachs MLP Income Opportunities Fund with and into the Fund was completed on September 28, 2020. The investment objective, strategies and restrictions of the Fund remain unchanged. The Fund seeks a high level of total return with an emphasis on current distributions to shareholders. The Fund invests primarily in master limited partnerships (“MLPs”) and other energy investments. The Fund currently expects to concentrate its investments in the energy sector, with an emphasis on midstream MLP investments. The Fund invests across the energy value chain, including upstream, midstream and downstream investments.

About Goldman Sachs Asset Management, L.P.

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market – overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2022¹. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Follow us on LinkedIn.

Disclosures

Shares of closed-end investment companies frequently trade at a discount from their net asset value (“NAV”), which may increase investors’ risk of loss. At the time of sale, an investor’s shares may have a market price that is above or below NAV, and may be worth more or less than the original investment. There is no assurance that the Fund will meet its investment objective. Past performance does not guarantee future results. Investments in securities of MLPs involve risks that differ from investments in common stock, including among others risks related to limited control and limited rights to vote on matters affecting MLPs, potential conflicts of interest risk, cash flow risks, dilution risks and trading risks.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security. The Fund has completed its initial public offering. Investors should consider their investment goals, time horizons and risk tolerance before investing in the Fund. An investment in the Fund is not appropriate for all investors, and the Fund is not intended to be a complete investment program. Investors should carefully review and consider the Fund’s investment objective, risks, charges and expenses before investing.

¹Assets Under Supervision (AUS) includes assets under management and other client assets for which Goldman Sachs does not have full discretion. AUS figure as of March 31, 2022.

Compliance Code: 278275-OTU

Date of First Use: May 13, 2022

Media:
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Investor:
Charles Sturges
Tel: 212-902-7996

Expanded Company Operations to European Market

WILSONVILLE, Ore.--(BUSINESS WIRE)--ESS Tech, Inc. (“ESS,” “ESS, Inc.” or the “Company”) (NYSE:GWH), a U.S. manufacturer of long-duration batteries for utility-scale and commercial energy storage applications, today announced financial results for its first quarter of 2022 ended March 31, 2022.

“Our team continued to make substantial operational strides in the first quarter. We worked through supply chain challenges and have made significant headway in our efforts to diversify our supplier partnerships and secure component supplies. With this we expect to deliver on our production schedule and remain on track to ship 40 to 50 Energy Warehouses this year. We continue to make progress ramping our manufacturing operations to increase capacity while reducing unit costs. Our second semi-automated line was delivered in the quarter and we continued to execute on our design-for-manufacturability cost reductions. Although unanticipated challenges limited our ability to recognize revenue in the quarter, we believe our efforts to manage costs while maximizing production output are paying dividends,” said Eric Dresselhuys, CEO of ESS. “I’m proud of our team for having navigated the industry-wide supply chain challenges. Our pipeline and backlog remain robust as countries around the world pull up their timeline for renewable energy generation mandates and the value proposition of our iron flow battery is stronger than ever.”

Recent Business Highlights

• Received delivery of our second semi-automated manufacturing line in the first quarter.
• On March 16, 2022, ESS announced market expansion in Europe to meet strong demand in the region for the Company’s long-duration energy storage solutions. ESS is scheduled to begin European deployment of its long-duration batteries during the second half of 2022. This market expansion includes the appointment of Alan Greenshields as Director of Europe, to oversee customer adoption and deployment of the Company’s LDES solutions. Greenshields brings over 25 years of experience to ESS in senior executive roles and has held several board-level positions at battery technology companies.

Conference Call Details

ESS will hold a conference call on Thursday, May 12, 2022 at 5:00 p.m. EDT to discuss financial results for its first quarter 2022 ended March 31, 2022. Interested parties may join the conference call beginning at 5:00 p.m. EDT on Thursday, May 12, 2022 via telephone by calling (844) 200-6205 in the U.S., or for international callers, by calling (646) 904-5544 and entering conference ID 675891. A telephone replay will be available until May 19, 2022, by dialing (866) 813-9403 in the U.S., or for international callers, (929) 458-6194 with conference ID 679229. A live webcast of the conference call will be available on ESS’ Investor Relations website at http://investors.essinc.com/.

A replay of the call will be available via the web at http://investors.essinc.com/.

About ESS, Inc.

ESS Inc. (NYSE: GWH) designs, builds and deploys environmentally sustainable, low-cost, iron flow batteries for long-duration commercial and utility-scale energy storage applications requiring from 4 to 12 hours of flexible energy capacity. The Energy Warehouse™ and Energy Center™ use earth-abundant iron, salt, and water for the electrolyte, resulting in an environmentally benign, long-life energy storage solution for the world’s renewable energy infrastructure. Established in 2011, ESS Inc. enables project developers, utilities, and commercial and industrial facility owners to make the transition to more flexible non-lithium-ion storage that is better suited for the grid and the environment. For more information, visit www.essinc.com.

Use of Non-GAAP Financial Measures

In this press release, the Company includes Non-GAAP Operating Expenses and Adjusted EBITDA, which are non-GAAP performance measures that the Company uses to supplement its results presented in accordance with U.S. GAAP. As required by the rules of the Securities and Exchange Commission (“SEC”), the Company has provided herein a reconciliation of the non-GAAP financial measures contained in this press release to the most directly comparable measures under GAAP. The Company’s management believes Non-GAAP Operating Expenses and Adjusted EBITDA are useful in evaluating its operating performance and are similar measures reported by publicly-listed U.S. companies, and regularly used by securities analysts, institutional investors, and other interested parties in analyzing operating performance and prospects. By providing these non-GAAP measures, the Company’s management intends to provide investors with a meaningful, consistent comparison of the Company’s profitability for the periods presented. Adjusted EBITDA is not intended to be a substitute for net income/loss or any U.S. GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry. Further, Non-GAAP Operating Expenses are not intended to be a substitute for GAAP Operating Expenses or any U.S. GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.

The Company defines and calculates Non-GAAP Operating Expenses as GAAP Operating Expenses adjusted for stock-based compensation and other special items determined by management as they are not indicative of business operations. The Company defines and calculates Adjusted EBITDA as net loss before interest, other non-operating expense or income, (benefit) provision for income taxes, and depreciation, and further adjusted for stock-based compensation and other special items determined by management, including, but not limited to, fair value adjustments for certain financial liabilities associated with debt and equity transactions as they are not indicative of business operations.

Forward-Looking Statements

This communication contains certain forward-looking statements, including statements regarding ESS and its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Examples of forward-looking statements include, among others, statements regarding the Company’s manufacturing plans, the Company’s order and sales pipeline, the Company’s ability to execute on orders and the Company’s ability to effectively manage costs. These forward-looking statements are based on ESS' current expectations and beliefs concerning future developments and their potential effects on ESS. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication. There can be no assurance that the future developments affecting ESS will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond ESS control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, continuing supply chain issues; delays, disruptions, or quality control problems in the Company’s manufacturing operations; the Company’s ability to hire, train and retain an adequate number of manufacturing employees; issues related to the shipment and installation of the Company’s products; issues related to customer acceptance of the Company’s products; and the Company’s need to achieve significant business growth to achieve sustained, long-term profitability. Except as required by law, ESS is not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Investors:
Erik Bylin
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Media:
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DUBLIN--(BUSINESS WIRE)--The "Global Naval Shipbuilding Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

The report investigates the trends and restraints that are being seen across the globe affecting navies' surface and subsurface vessel procurement.

It provides a macro-level overview of how most modern navies operate and how concepts of operation are evolving. Taking these factors into account and using the publisher's data, the global shipbuilding market has been forecasted out to 2030, providing insight into major opportunities for both vessel designers and builders.

A competition analysis provides an overview of portfolios of ship designs, focusing predominantly on the top 10 companies. Interceptor boats, landing ships, patrol boats, corvettes/frigates, guided missile destroyers/cruisers, aircraft carriers/amphibious assault ships, auxiliary, and submarines are analyzed and further broken down into subcategories such as landing platform dock and landing helicopter dock.

The market is being driven by global events and technological developments such as growing tensions in the Asia-Pacific region that have already resulted in an increased emphasis on naval modernization programs and a resurgence of submarine inventory proliferation by countries in the region as well as NATO and the United States.

These tensions are predominantly generated by Chinese threats of expansionism into the East and South China Seas, especially over the "nine-dash line," and a large majority of global maritime trade passing through the region. However, restraints on market growth have begun to show, such as the impact of the COVID-19 pandemic that disrupted manufacturing and caused many countries to constrict their defense budgets and delay ongoing and future naval procurements.

With the global naval environment becoming increasingly complex and ships becoming multifunctional to cover a variety of threat scenarios, concepts of naval warfare operations are evolving. Increasingly, naval warfare will take place across a multidomain battlespace with further integration of air, maritime, and land-based domains.

This is partly due to the transition from mission-specific platforms such as the Type 45-class destroyer (designed primarily for anti-aircraft and anti-missile warfare), and the Ticonderoga-class cruise (designed to be an element of a carrier battle group), toward a more multirole functionality that is seen on a lot of frigate classes.

Designers must keep this in mind when offering future system architectures to provide a cohesive and comprehensive system through a network-centric approach to achieve complete awareness and control of the battlespace.

Key Topics Covered:

1.Strategic Imperatives

• Why is it Increasingly Difficult to Grow?
• The Strategic Imperative
• The Impact of the Top 3 Strategic Imperatives on the Naval Vessel Industry
• Growth Opportunities Fuel the Growth Pipeline Engine

2. Market Overview

• Trends Impacting Demand 2021-2030
• Restraints Impacting Demand 2021-2030

3. Research Scope and Methodology

• Research Scope
• Research Objectives and Questions

4. General Market Trends

• Geopolitical Analysis
• Threat Analysis
• Growth Drivers
• Growth Driver Analysis
• Growth Restraints
• Growth Restraint Analysis

5. Naval Warfare Concepts

• Ship Classifications
• Naval Formations
• Future Concepts of Naval Warfare - Autonomous Functionality
• Future Concepts of Naval Warfare - Multi-domain Battlespace
• Future Concepts of Naval Warfare - New Weapon Systems

6. Global Naval Shipbuilding Environment

• Key Programs: 2020-2021
• Market Dashboard
• Key Growth Metrics
• Revenue Forecast by Region
• Revenue Forecast by Vessel Type
• Major Opportunities
• Key Competitors
• Supplier Landscape: Top 10 Designers
• Global Supply Chain: Market Penetration

7. Growth Opportunities

• Growth Opportunity 1: Frigate/Corvette Requirements
• Growth Opportunity 2: Patrol Capabilities
• Growth Opportunity 3: Increased Automation
• Strategic Imperatives for Success and Growth

8. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/uxvpb9

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Direct Methanol Fuel Cells Market Research Report by Component, Type, Application, Region - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.

The Global Direct Methanol Fuel Cells Market size was estimated at USD 157.11 million in 2021, USD 169.75 million in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.22% to reach USD 252.44 million by 2027.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Direct Methanol Fuel Cells Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Direct Methanol Fuel Cells Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Direct Methanol Fuel Cells Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Direct Methanol Fuel Cells Market?

4. What is the competitive strategic window for opportunities in the Global Direct Methanol Fuel Cells Market?

5. What are the technology trends and regulatory frameworks in the Global Direct Methanol Fuel Cells Market?

6. What is the market share of the leading vendors in the Global Direct Methanol Fuel Cells Market?

7. What modes and strategic moves are considered suitable for entering the Global Direct Methanol Fuel Cells Market?

Market Dynamics

Drivers

• Increasing demand for clean energy
• High investments in fuel cell development
• Ease of transport & storage
• High energy density of direct methanol fuel cells

Restraints

• Methanol crossover & low efficiency
• Low oil prices
• Expensive catalyst

Opportunities

• Technological innovation
• Research collaborations & portable applications

Challenges

• Competition from existing technologies
• Lack of infrastructure for DMFC vehicles

Companies Mentioned

• AIWAYS Inc.
• Altergy Systems
• Antig Technology Co. Ltd
• Ballard Power Systems Inc.
• Bloom Energy
• Blue World Technologies
• Bren-Tronics Incorporated
• E. I. Du Pont De Nemours and Company
• Fischer Group GmbH
• Fujikura Ltd.
• GenCell Energy
• Horizon Fuel Cell Technologies
• Ird Fuel Cell A/S
• Johnson Matthey
• MeOH Power, Inc.
• Oorja Corporation
• Pro-Power Co., Ltd
• Roland Gumpert
• Samsung SDI
• SerEnergy A/S
• SFC Energy AG
• Siqens GmbH
• Treadstone Technologies Inc.
• Viaspace Inc.

For more information about this report visit https://www.researchandmarkets.com/r/3i9l72

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Middle East Power & Energy Outlook, 2022" report has been added to ResearchAndMarkets.com's offering.

This outlook captures key highlights of 2021 and what the analyst expects from the sector in 2022, based on major industry trends observed in the past few years and those that will continue going forward.

The report also explores avenues for investment available for industry participants in the ME that result from this major effort towards decarbonization and managing evolving power demand.

Globally, the Middle East (ME) is one of the regions most vulnerable to climate change. Nearly every ME country has been subjected to some of the lowest precipitation levels historically, and hotter climatic conditions will lead to a surge in demand for electricity to power regional cooling requirements. In fact, cooling already accounts for 70% of residential power demand.

An increase in temperature will exacerbate the ME's desalination and cooling requirements. Energy-efficiency needs are equally strong across the region where citizens have thrived on energy subsidies and some of the lowest electricity prices in the world. These issues coupled with volatile hydrocarbon prices have led to what is now being called the Energy Transition era in the Middle East.

Economic diversification features on most vision agendas of Gulf Cooperation Council countries to insulate themselves from volatile oil prices and to transition to an industrial economy that will achieve growth from non-oil exports. Further, the onus to reduce carbon emissions has fallen on the region; therefore, ME countries have ambitious targets to promote renewable sources of power. Decarbonization represents a subject gaining unparalleled levels of attention and importance in the ME.

Another trend is the major shift towards natural gas-fired power plants, a move away from other fossil fuel-based power generation sources, and phenomenal growth in capacity additions of renewable power generation assets, with solar PV dominating.

Opportunities abound with net capacity additions of more than 185.46 GW in the pipeline, easy access to financing renewable projects, and several incentives earmarked to attract foreign investments.

Key Issues Addressed

• What is the installed capacity of power generation assets in the region, and what is the total market revenue potential?
• What are the major trends impacting the regional energy industry?
• What are the growth opportunities available for new entrants and existing players?
• What is the market revenue potential in prominent countries of the region?

Key Topics Covered:

1. Key Insights

• Highlights of the Power and Energy Industry, 2021
• Predictions for 2022

2. The Strategic Imperative

• Why is it Increasingly Difficult To Grow?
• The Strategic Imperative
• The Impact of the Top 3 Strategic Imperatives on the ME Power & Energy Industry
• Growth Opportunities Fuel The Growth Pipeline Engine

3. Industry Scope

• Research Scope
• What Does the Power Sector Outlook Report Cover?

4. Key Market Trends

• ME Power & Energy Industry, Key Market Trends
• Trend 1 - Gas Remains King
• Trend 2 - Solar Dominates New Investment
• Trend 3 - Nuclear on the Rise
• Trend 4 - Strong Investment Growth for Decentralized Power Generation
• Trend 5 - Energy Security and Grid Stability Drive Storage Investment
• Trend 6 - Higher Power Demand Drives Grid Investment
• Trend 7 - Large-scale High-voltage (HV) Projects to Improve Regional Interconnectivity
• Trend 8 - Energy Efficiency Path to Net Zero
• Trend 9 - ME Bets on a Hydrogen Future
• Trend 10 - The Drive for Local Manufacturing
• Trend 11 - Waste to Energy (WTE)
• Trend 12 - Carbon Sequestration, Storage, and Utilization
• Trend 13 - Biofuels
• Trend 14 - Electrification of Transport
• Trend 15 - Sustainable DC
• Trend 16 - Decarbonized Desalination

5. Key Power Investment Metrics

• Annual Power Generation Investment Forecast
• Installed Power Generation Capacity Forecast
• Annual Power Generation Capacity Additions
• Annual Power Generation Investment by Country
• Total Annual Power Investment Forecast
• Power Generation Investment Outlook

6. Country Outlook

• Egypt Power and Energy Outlook
• KSA Power and Energy Outlook
• UAE Power and Energy Outlook
• Kuwait Power and Energy Outlook
• Qatar Power and Energy Outlook
• Israel Power and Energy Outlook

7. Growth Opportunity Universe, Power & Energy Industry

• Growth Opportunity 1 - Energy Consumption Management
• Growth Opportunity 2 - RE Investments
• Growth Opportunity 3 - T&D
• Growth Opportunity 4 - O&M Opportunities in Renewables
• Growth Opportunity 5 - Retrofit Gas Turbines

8. Key Conclusions

9. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/j8akrf

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

For E.S.T Office Hours Call 1-917-300-0470
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DUBLIN--(BUSINESS WIRE)--The "Hydrogen Generation Market Research Report by Generation & Delivery Mode (Captive and Merchant), Technology, Application, Storage, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.

The Global Hydrogen Generation Market size was estimated at USD 128.41 billion in 2021, USD 136.85 billion in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.74% to reach USD 190.00 billion by 2027.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Hydrogen Generation Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Hydrogen Generation Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Hydrogen Generation Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Hydrogen Generation Market?

4. What is the competitive strategic window for opportunities in the Global Hydrogen Generation Market?

5. What are the technology trends and regulatory frameworks in the Global Hydrogen Generation Market?

6. What is the market share of the leading vendors in the Global Hydrogen Generation Market?

7. What modes and strategic moves are considered suitable for entering the Global Hydrogen Generation Market?

Market Dynamics

Drivers

• Increasing demand for green and clean fuel
• Favorable government initiatives coupled with ever-increasing pollution levels
• Rising application of hydrogen in varied industries

Restraints

• Shortage of capex spending and distribution infrastructure
• Concerns with high energy consumption of hydrogen generation technologies

Opportunities

• Ongoing efforts in the development of green hydrogen production technologies
• Rising demand for hydrogen in building heat and power

Challenges

• Issues of safety in the use of hydrogen

Companies Mentioned

• 1Messer Group
• Air Liquide
• Air Products and Chemicals
• Ally Hi-Tech
• Ballard Power Systems
• Caloric
• Claind
• Erredue
• Fuelcell Energy
• Hydrogenics
• Hygear
• Iwatani
• Linde
• Nuvera Fuel Cells
• Plug Power
• Praxair
• Proton Onsite
• Showa Denko
• Taiyo Nippon Sanso
• Teledyne Energy Systems
• Xebec

For more information about this report visit https://www.researchandmarkets.com/r/sflc7p

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

DUBLIN--(BUSINESS WIRE)--The "Electric Vehicle Battery Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global electric vehicle (EV) battery recycling market reached a value of US$ 1.77 billion in 2021. Looking forward, the market is projected to reach a value of US$ 8.66 billion by 2027, exhibiting a CAGR of 28.70% during 2022-2027.

Companies Mentioned

• ACCUREC-Recycling GmbH
• American Manganese Inc.
• Battery Solutions
• G & P Batteries Limited
• Li-Cycle Corp.
• Retriev Technologies
• SITRASA
• SNAM Groupe (Floridienne)
• TES-Amm
• Umicore N.V

Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Electric vehicle (EV) battery recycling relies on two procedures, including pyrometallurgy/smelting and hydrometallurgy, which are either utilized separately or in combination with each other. It focuses on recovering the cathode metals of a battery, such as nickel (Ni), cobalt (Co), aluminum (Al), iron (Fe), and lithium (Li), to reduce the dependence on intensive mining for battery development. Besides this, as it can prevent hazardous materials from entering the waste stream at the end of life (EOL) of a battery, the demand for EV battery recycling is rising across the globe.

As there is presently an increase in the sales of EVs, the number of EV batteries requiring proper management at EOL is also growing. This, in confluence with the burgeoning automotive industry, represents one of the key factors positively influencing the market.

Moreover, leading players are developing new recycling technologies, such as direct recycling or cathode-to-cathode recycling, to recover metals, minerals, chemicals, and chemical powders suitable for direct sales to battery manufacturers. This approach varies from the current method of producing metal-laden materials directed to smelters for refining and recovering Ni, Co, and other cathode materials as separate metals.

Besides this, governments of numerous countries are increasing their expenditure on direct purchase incentives and tax deductions for EVs. They are also establishing the electric vehicles initiative (EVI), which aims at accelerating the adoption of EVs worldwide. In addition, several campaigns have been launched by global organizations to support the market of buses, trucks, electric passenger cars, and light commercial vans (LCVs). This, coupled with the depletion of non-renewable metal resources, is facilitating the growth of the market.

Key Questions Answered in This Report

• How has the global electric vehicle battery recycling market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global electric vehicle battery recycling market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the process?
• What is the breakup of the market based on the vehicle type?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global electric vehicle battery recycling market and who are the key players?
• What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Electric Vehicle Battery Recycling Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Type

7 Market Breakup by Process

8 Market Breakup by Vehicle Type

9 Market Breakup by Application

10 Market Breakup by Region

11 SWOT Analysis

12 Value Chain Analysis

13 Porters Five Forces Analysis

14 Price Analysis

15 Competitive Landscape

15.1 Market Structure

15.2 Key Players

15.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/y4kh3n

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

DUBLIN--(BUSINESS WIRE)--The "Smart Transportation Market Research Report by Type, Component, Communication Technology, Roadway, Railway, Airway, Maritime, Application, Roadways type, Region - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.

The Global Smart Transportation Market size was estimated at USD 88.10 billion in 2021, USD 97.68 billion in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 11.05% to reach USD 165.29 billion by 2027.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Smart Transportation Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Smart Transportation Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Smart Transportation Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Smart Transportation Market?

4. What is the competitive strategic window for opportunities in the Global Smart Transportation Market?

5. What are the technology trends and regulatory frameworks in the Global Smart Transportation Market?

6. What is the market share of the leading vendors in the Global Smart Transportation Market?

7. What modes and strategic moves are considered suitable for entering the Global Smart Transportation Market?

Market Dynamics

Drivers

• Rising government focus on building smart cities
• Increasing IoT integration to enhancing transportation services
• Increasing urbanization rate

Restraints

• Lack of uniform policy and technology

Opportunities

• Advent of autonomous vehicles
• Emphasis on Analytics in smart transportation

Challenges

• Integration complexities
• Cybersecurity risk

Companies Mentioned

• Bestmile
• Cubic Corporation
• DENSO Corporation
• Doublemap
• Efkon AG
• Electricfeel
• FLIR Systems Inc.
• Garmin Ltd.
• Geotoll
• Kapsch TrafficCom AG
• Nutonomy
• Q-Free ASA
• Siemens AG
• Thales S.A.
• Tomtom International B.V.

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

DUBLIN--(BUSINESS WIRE)--The "Metal Casting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global metal casting market reached a value of US$ 139 billion in 2021. Looking forward, the market is projected to reach US$ 221.3 billion by 2027, exhibiting a CAGR of 7.8% during 2022-2027.

Companies Mentioned

• Nemak Sab De CV (Alfa
• Sab De CV)
• GF Casting Solutions AG (Georg Fischer Ltd)
• Dynacast Ltd
• Ryobi Limited
• Rheinmetall Automotive AG
• Endurance Technologies Limited
• Ahresty Corporation
• Gibbs (Koch Enterprises Inc.)
• Aisin Automotive Casting LLC (Aisin Seiki Co. Ltd.)
• MINO Industry USA Inc.
• Thyssenkrupp AG
• Shibaura Machine Co. Ltd

Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.

Metal casting is a process in which molten metal is poured into a hollow container of desired geometrical shape to form a solidified part. There are many reliable and effective metal casting materials such as, gray iron, ductile iron, aluminum, steel, copper and zinc.

Metal casting can produce objects with complex shapes and is cheaper compared to other manufacturing processes for medium to large quantities of castings produced. Cast metal products are an integral part of the human life and economy as they are found in 90% of the manufactured goods and equipment, ranging from home appliances and surgical equipment to critical components for aircraft and automobiles.

Metal casting technology offers numerous advantages; it aids in improving energy efficiency, lowering production costs, enhancing environmental quality, and creating innovative new cast products. Due to these advantages, it is used in pipes and fittings, mining and oilfield machinery, internal combustion engines, railroads, valves and farm equipment, which depend heavily on casting to create uniform products.

Further, metal casting foundries rely on metal recycling as a cost-efficient source of raw material, which significantly reduces scrap metal. Besides this, the ongoing research in the field of metal casting ensures innovations and improvements in the casting process, including the development in lost foam casting and computer-based visualization tools for die casters to create alternative means for molding. These advanced casting technologies allow foundry researchers to produce defect-free castings and help them to explore detailed phenomena associated with the new casting process parameters.

Moreover, the deteriorating environmental conditions have prompted manufacturers to formulate simulation-based castings to reduce wastage and operational costs.

Key Questions Answered in This Report

1. What was the size of the global metal casting market in 2021?

2. What is the expected growth rate of the global metal casting market during 2022-2027?

3. What are the key factors driving the global metal casting market?

4. What has been the impact of COVID-19 on the global metal casting market?

5. What is the breakup of the global metal casting market based on the process?

6. What is the breakup of the global metal casting market based on the material type?

7. What is the breakup of the global metal casting market based on the End-use?

8. What are the key regions in the global metal casting market?

9. Who are the key companies/players in the global metal casting market?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Metal Casting Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Breakup by Process

5.5 Market Breakup by Material Type

5.6 Market Breakup by End Use

5.7 Automotive and Transportation Market: Breakup by Component

5.8 Automotive and Transportation Market: Breakup by Vehicle Type

5.9 Automotive and Transportation Market: Breakup by Electric and Hybrid Vehicle

5.10 Automotive and Transportation Market: Breakup by Application

5.11 Market Breakup by Region

5.12 Market Forecast

6 Market Breakup by Process

7 Market Breakup by Material Type

8 Market Breakup by End Use

9 Automotive and Transportation Market: Breakup by Components

10 Automotive and Transportation Market: Breakup by Vehicle Type

11 Automotive and Transportation Market: Breakup by Electric and Hybrid Type

12 Automotive and Transportation Market: Breakup by Application

13 Market Breakup by Region

14 SWOT Analysis

15 Value Chain Analysis

16 Porter's Five Forces Analysis

17 Price Analysis

18 Competitive Landscape

18.1 Market Structure

18.2 Key Players

18.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/qq0yx5

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Appoints: Commercial Managing Director, Europe; and Chief Growth Officer

BURLINGTON, Ontario--(BUSINESS WIRE)--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) announces the promotion of two members of its leadership team to fill newly created executive roles that will position the company to benefit from growth opportunities in Europe. Alessandro Massone was appointed as Commercial Managing Director, Europe, and Kunal Shah was appointed as Chief Growth Officer of the Company.

"The addition of Alessandro and Kunal to our senior leadership team will better position the company in the face of increasing opportunities for Anaergia in Europe and around the world. Both individuals have extensive expertise that will positively affect the Company’s commercial activities in this continent where Anaergia has seen a consequential improvement to market fundamentals," said Dr. Andrew Benedek, Anaergia's Chairman and CEO. "We are very fortunate to have the right people within the company to maximize the opportunities we are now seeing within the European countries where we are already active, and also for those countries into which we plan to grow."

Alessandro will lead Anaergia’s European expansion and coordinate its commercial activities across the region. Based in Italy, Alessandro will utilize the Company’s management team in offices across Europe (located in Italy, Germany, Denmark, the United Kingdom and the Netherlands) to replicate the success already achieved in Italy.

Prior to this, Alessandro led the commercial activities of the Company’s Italian operations, where Anaergia is rapidly developing a portfolio of Build-Own-Operate (BOO) facilities that turn organic waste into renewable natural gas (RNG), while also achieving high market penetration in its capital sales activities. Before joining Anaergia, he was CEO of the Austep Group, which developed biogas projects internationally. Over the course of his career, Alessandro obtained extensive experience as an international professional environmental engineer with deep scientific background.

Kunal will be responsible for developing the company’s global strategies and partnerships, as well as its global marketing and branding efforts. Kunal will strengthen Anaergia’s positioning worldwide with a special emphasis on activities to accelerate success in Europe.

Prior to his new appointment, Kunal led Anaergia’s efforts to drive sales and grow business activities in Asia. Before joining Anaergia, he was a part of VA Tech Wabag’s management team, building water and wastewater treatment infrastructure. Kunal is actively engaged in a number of professional activities such as serving as council member of World Biogas Association, council member of Singapore Water Association and Global Advisory Council Member of Global Water Impact Fund.

About Anaergia

Anaergia was created to eliminate a major source of greenhouse gases by cost effectively turning organic waste into renewable natural gas (“RNG”), fertilizer and water, using proprietary technologies. With a proven track record from delivering world-leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the municipal solid waste, municipal wastewater, agriculture, and food processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.

Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Company’s annual information form dated March 28, 2022 for the fiscal year ended December 31, 2021. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

For further information please see: www.anaergia.com

Source: Anaergia Inc.

For media relations: Melissa Bailey, Director, Marketing & Corporate Communications, This email address is being protected from spambots. You need JavaScript enabled to view it.
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PEORIA, Ill.--(BUSINESS WIRE)--Yesterday, Sol Systems and Illinois American Water, the largest investor-owned water utility in Illinois, cut the ribbon on their second solar project, located in Peoria, Ill. The 2.3-megawatt (MW) solar project includes bifacial panels and single-axis trackers and will generate the equivalent electricity each year of approximately 350 homes.

This is the second project collaboration of its kind for Sol Systems and Illinois American Water. They cut the ribbon on their first 2.3 MW array, located in Champaign County, in November 2021.

Justin Ladner, Illinois American Water President, said the Solar Fields support the company’s “commitment to protect the environment, while supporting sustainability and affordability.” He added, “The vast majority of energy consumed by water utilities is used to pump water. By reducing energy consumption and emissions we can use water more efficiently, protect the environment and reduce costs to our customers.”

“This project demonstrates Illinois American Water’s commitment to the communities it serves,” said Andrew Grin, Vice President at Sol Systems. “Through onsite solar, Illinois American Water succeeds in reducing its reliance on fossil fuels, cutting its operating costs, and improving the sustainability of its operations.”

Illinois American Water will purchase the electricity under a 15-year power purchase agreement (PPA) with Sol Customer Solutions, enabling the company to realize low, fixed electricity costs without upfront expenditure. Sol Customer Solutions is a joint venture between Sol Systems and Arevon Energy, Inc. Arevon will manage the asset and Sol Systems will operate and maintain the project.

Sol Systems partnered with construction firm Melink Solar to build the project. The project’s features include bifacial panels, which take in additional reflected energy on both sides of each panel, and single-axis trackers that rotate the panels to face the sun throughout the day.

“Melink Solar is grateful for the partnership and forward thinking approaches of Illinois American Water and Sol Systems. These organizations are helping lead the clean energy revolution to help improve our global economy, security and environment – for ourselves, our children and future generations,” said Seth Parker, Vice President and General Manager, Melink Solar.

To see photos from the ribbon cutting event, visit Illinois American Water’s Facebook page.

About Sol Systems – Sol Systems is a leading national solar energy firm with an established reputation for integrity and reliability across its development, infrastructure, and environmental commodity businesses. To date, Sol has developed and/or financed over 1 GW of solar projects valued at more than $1 billion for Fortune 100 companies, municipalities, counties, utilities, universities, and schools and provides services to 18,000 customers across the US. The company was founded in 2008, is based in Washington, D.C., and is led by its founder. Sol Systems works with its team, partners, and clients to create a more sustainable future we can all believe in. For more information, visit https://www.solsystems.com.

About Illinois American Water – Illinois American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 1.3 million people. American Water also operates a customer service center in Alton and a quality control and research laboratory in Belleville. For more information, visit www.illinoisamwater.com.

About Melink Solar – Melink Solar delivers the highest-quality engineering, procurement, and construction of solar PV systems customized for the needs of companies, organizations, governments, developers, and utilities in the USA. Our Net Zero Energy campus in Cincinnati, Ohio serves as a model and test platform for some of the country’s most energy efficient buildings. One of the country’s Top Solar Contractors, Melink Solar has been delivering solar power systems since 2009. For more information, visit www.melinksolar.com

Karen Cotton, Sr. Manager External Communications, This email address is being protected from spambots. You need JavaScript enabled to view it.

HALIFAX, Nova Scotia--(BUSINESS WIRE)--Today Emera (TSX: EMA) reported 2022 first quarter financial results.

Highlights

• Quarterly adjusted net income⁽¹⁾ of $242 million is consistent with Q1 2021. Quarterly adjusted EPS⁽¹⁾ was $0.92, a decrease of $0.04 from $0.96 in Q1 2021. Contribution from regulated utilities increased adjusted EPS⁽¹⁾ $0.11 year-over-year largely driven by new rates at Tampa Electric and continued growth at People’s Gas (“PGS”). This was offset primarily by lower contributions from Emera Energy due to extreme market conditions in 2021 and by higher share count.
• Quarterly reported net income increased by $89 million to $362 million compared to $273 million in Q1 2021 and quarterly reported EPS increased by $0.30 to $1.38 from $1.08 in Q1 2021 due to mark-to-market (“MTM”) gains.
• On track to deploy close to $3 billion of capital investment in 2022 to advance Emera’s strategy, including our clean energy transition.

“Our regulated utilities performed well this quarter, particularly in Florida where robust economic and customer growth continue,” said Scott Balfour, President and CEO of Emera Inc. “We are proud of our track record of delivering growth through the energy transition but we recognize that there is significant work ahead to meet ambitious government climate targets in a way that manages costs for customers and does not sacrifice system reliability. Our proven strategy and progress to date positions us well to address this challenge, and to continue to deliver value and growth to our shareholders.”

Q1 2022 Financial Results

Q1 2022 reported net income was $362 million, or $1.38 per common share, compared with net income of $273 million, or $1.08 per common share, in Q1 2021.

Q1 2022 adjusted net income⁽¹⁾ was $242 million, or $0.92 per common share, compared with $243 million, or $0.96 per common share, in Q1 2021.

Adjusted net income was consistent with Q1 2021. Increased earnings contributions from Tampa Electric were offset by decreased earnings at Emera Energy Services (“EES”) and increased corporate costs.

(1) See “Non-GAAP Financial Measures and Ratios” noted below and “Segment Results and Non-US GAAP Reconciliation” below for reconciliation to nearest USGAAP measure.

Consolidated Financial Review

The following table highlights significant changes in adjusted net income attributable to common shareholders from 2021 to 2022.

Segment Results and Non-GAAP Reconciliation

¹ Non-GAAP Financial Measures and Ratios

Emera uses financial measures that do not have standardized meaning under USGAAP and may not be comparable to similar measures presented by other entities. Emera calculates the non-GAAP measures and ratios by adjusting certain GAAP measures for specific items. Management believes excluding these items better distinguishes the ongoing operations of the business. For further information on the non-GAAP financial measure, adjusted net income, and the non-GAAP ratio, adjusted earnings per common share – basic, refer to the "Non-GAAP Financial Measures and Ratios" section of the Emera’s Q1 2022 MD&A which is incorporated herein by reference and can be found on SEDAR at www.sedar.com. Reconciliation to the nearest GAAP measure is included in “Segment Results and Non-GAAP Reconciliation” above.

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management’s current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera’s assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, including under the heading “Business Risks and Risk Management” in Emera’s annual Management’s Discussion and Analysis, and under the heading “Principal Risks and Uncertainties” in the notes to Emera’s annual and interim financial statements, which can be found on SEDAR at www.sedar.com.

Teleconference Call

The company will be hosting a teleconference today, Friday, May 13, at 9:30 a.m. Atlantic (8:30 a.m. Eastern) to discuss the Q1 2022 financial results.

Analysts and other interested parties in North America are invited to participate by dialing 1-866-521-4909. International parties are invited to participate by dialing 1-647-427-2311. Participants should dial in at least 10 minutes prior to the start of the call. No pass code is required.

A live and archived audio webcast of the teleconference will be available on the Company's website, www.emera.com. A replay of the teleconference will be available two hours after the conclusion of the call by dialing 1-800-585-8367 and entering pass code 2094713.

About Emera

Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $34 billion in assets and 2021 revenues of more than $5.7 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.

Emera Inc.
Investor Relations
Dave Bezanson, VP, Investor Relations & Pensions
902-474-2126
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Arianne Amirkhalkhali, Manager, Investor Relations
902-425-8130
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Media
902-222-2683
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DALLAS--(BUSINESS WIRE)--Flowserve Corp. (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, held its virtual 2022 Annual Meeting of Shareholders today.

As previously announced, Roger L. Fix was not nominated for re-election to the Board of Directors at the annual meeting as he was approaching the mandatory retirement age under our Corporate Governance Guidelines. “I want to extend my sincere thanks to Mr. Fix for his many years of dedicated service to Flowserve,” said Scott Rowe, President and Chief Executive Officer. “His institutional knowledge of our Company combined with his robust industry experience was exactly what Flowserve needed to navigate the unprecedented events of the last few years.”

“Roger has provided steady and experienced leadership to our Board and Flowserve’s management for over 16 years,” said Dave E. Roberts, chairman of Board of Directors. “Both as a director, as well as Chairman of the Board, he has drawn on his vast experience to provide critical advice and input in the moments Flowserve has needed it most during the past 16 years. While we will certainly miss his voice in the Boardroom, we are excited for him and his family as he moves into his next phase of retirement.”

Concerning the official business of the meeting, the Company announced that its shareholders re-elected R. Scott Rowe, Sujeet Chand, Ruby R. Chandy, Gayla J. Delly, John R. Friedery, John L. Garrison, Michael C. McMurray, David E. Roberts, and Carlyn R. Taylor to the Company's Board of Directors, each to serve an annual term expiring at the 2023 Annual Meeting of Shareholders.

Biographies for all members of the Board can be found in the Company's 2022 Proxy Statement or on www.flowserve.com.

Voting results also indicate that shareholders did not approve an advisory vote on executive compensation, voting approximately 77.0 percent against the proposal. The company noted that it takes seriously aligning executive compensation with delivering long-term shareholder value. The Board will carefully consider perspectives of its shareholders in connection with this year’s Annual Meeting and will continue to engage with shareholders as the Board develops executive compensation plans. The company plans to conduct outreach to further understand shareholder concerns regarding our executive compensation and proactively address any issues prior to next year’s annual meeting.

Additionally, shareholders ratified the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for 2022.

Shareholders rejected a shareholder proposal to reduce the ownership threshold required to call a special shareholder meeting, voting approximately 54.8 percent against the proposal.

Final voting results on all agenda items will be available in a Current Report on Form 8-K to be filed by the Company following certification by the Company's inspector of elections.

About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.

Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition

The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.

Investor Contacts:
Jay Roueche, Vice President, Treasurer and Investor Relations, (972) 443-6560

Mike Mullin, Director, Investor Relations, (972) 443-6636

Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644

• Demonstrated innovation and expertise to outpace the oil & gas industry recovery by adding new lines of business through expanded relationships with current customers and also adding new customers
• First quarter revenue rose $1.7 million to $4.1 million over the prior-year period and was up 4.5% sequentially on strong demand and as production capacity improved with staffing efficiencies
• Tool revenue grew 66% over the prior-year period and Contract Services revenue was up 79%
• Achieved net income of $150 thousand and Adjusted EBITDA* of $1.0 million or 24.5% as a percent of revenue
• Strengthened balance sheet: $2.9 million of cash and $6.5 million in shareholders’ equity at quarter-end

*Adjusted EBITDA is a non-GAAP measure. See comments regarding the use of non-GAAP measures and the reconciliation of GAAP to non-GAAP measures in the tables of this release

VERNAL, Utah--(BUSINESS WIRE)--Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or the “Company”), a designer and manufacturer of drilling tool technologies, today reported financial results for the first quarter of 2022 ended March 31, 2022.

“Our team once again has demonstrated our ability to perform exceptionally well. Over the last two years, we have delivered in the face of adversity and now with markets accelerating are expanding capacity, producing efficiently and meeting customer demand. As a result, we had an excellent first quarter that demonstrated the significant leverage inherent in our operations with EBITDA margin expanding 360 basis points to 24.5% over the trailing December quarter on just 4.5% increase in revenue,” commented Troy Meier, Chairman and CEO. “A regularly growing number of operators in North America are realizing the value of our Drill-N-Ream^® wellbore conditioning tool (“DNR”), demand is also increasing for our quality manufacturing and refurbishment services and our markets are consistently improving. We are encouraged with the development of our new associates brought on last year that are now producing at a higher rate, which has also allowed us to take on more contract service work.”

He added, “Our commitment to training and efficiency remain a priority as we make further investments in building out our team with skilled experts. In addition, to support our growth expectations, we recently invested $1.1 million in new machinery that is expected to increase our capacity for both the manufacture and refurbishment of drill bits as well as other contract manufacturing work. We are excited about our future and believe that we can continue to outperform as we advance through 2022 and beyond.”

First Quarter 2022 Review ($ in thousands, except per share amounts) (See at “Definitions” the composition of product/service revenue categories.)

Revenue growth reflects the continued recovery in the North America oil & gas industry, strengthened market share for the DNR and continued strong demand for the manufacture and refurbishment of drill bits and other related tools.

For the first quarter of 2022, North America revenue comprised approximately 90% of total revenue, with remaining sales all within the Middle East. International markets, while showing improvement year-over-year, remain under pressure as pandemic-related restrictions persist and remain an obstacle to travel and labor recruitment. Revenue in North America grew year-over-year from increased tool revenue and strong growth in Contract Services.

First Quarter 2022 Operating Costs

⁽¹⁾ Adjusted EBITDA is a non-GAAP measure defined as earnings before interest, taxes, depreciation, and amortization, non-cash stock compensation expense, and unusual items. See the attached tables for important disclosures regarding SDP’s use of Adjusted EBITDA, as well as a reconciliation of net loss to Adjusted EBITDA.

Higher volume combined with cost discipline, improved processes and operational efficiencies are resulting in enhanced leverage despite continued investments in people and inflationary pressures. Selling, general & administrative expenses were 39.9% of revenue, a measurable improvement from the prior-year period, and were 210 basis points lower sequentially.

Depreciation and amortization expense decreased approximately 40% year-over-year to $411 thousand as a result of fully amortizing a portion of intangible assets and fully depreciating manufacturing center equipment.

Net income for the quarter was $150 thousand, or $0.01 per diluted share, up from a net loss of $1.1 million in the first quarter of 2021. Net income for the sequential fourth quarter was elevated due to the recovery of principal and interest of a related party note receivable during the period.

Adjusted EBITDA increased to $1.0 million, or 24.5% of sales, further demonstrating the strong inherent operating leverage in the business. The Company believes that when used in conjunction with measures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), Adjusted EBITDA, which is a non-GAAP measure, helps in the understanding of its operating performance.

Balance Sheet and Liquidity

Cash at the end of the quarter was $2.9 million, up slightly from year-end 2021. Cash generated by operations for the quarter was $1.1 million compared with $205 thousand in the year ago period, largely reflecting the improvement in net income. Capital expenditures were $919 thousand in the quarter and included a down payment of $287 thousand to secure a new CNC machine.

Long-term debt, including the current portion, at quarter-end, was $2.3 million, down 5% from December 31, 2021. The final $750 thousand of principal due on the Hard Rock note is payable on October 5, 2022.

Webcast and Conference Call

The Company will host a conference call and live webcast today at 10:00 am MT (12:00 pm ET) to review the results of the quarter and discuss its corporate strategy and outlook. The discussion will be accompanied by a slide presentation that will be made available prior to the conference call on SDP’s website at www.sdpi.com/events. A question-and-answer session will follow the formal presentation.

The conference call can be accessed by calling (201) 689-8470. Alternatively, the webcast can be monitored at www.sdpi.com/events. A telephonic replay will be available from 1:00 p.m. MT (3:00 p.m. ET) the day of the teleconference until Friday, May 20, 2022. To listen to the archived call, please call (412) 317-6671 and enter conference ID number 13729000 or access the webcast replay at www.sdpi.com, where a transcript will be posted once available.

Definitions and Composition of Product/Service Revenue:

Contract Services Revenue is comprised of repair and manufacturing services for drill bits and other tools or products for customers.

Other Related Tool Revenue is comprised of royalties and fleet maintenance fees.

Tool Sales/Rental revenue is comprised of revenue from either the sale or rent of tools to customers.

Tool Revenue is the sum of Other Related Tool Revenue and Tool Sales/Rental revenue.

About Superior Drilling Products, Inc.

Superior Drilling Products, Inc. is an innovative, cutting-edge drilling tool technology company providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry. The Company designs, manufactures, repairs and sells drilling tools. SDP drilling solutions include the patented Drill-N-Ream® wellbore conditioning tool and the patented Strider™ oscillation system technology. In addition, SDP is a manufacturer and refurbisher of PDC (polycrystalline diamond compact) drill bits for a leading oil field service company. SDP operates a state-of-the-art drill tool fabrication facility, where it manufactures its solutions for the drilling industry, as well as customers’ custom products. The Company’s strategy for growth is to leverage its expertise in drill tool technology and innovative, precision machining in order to broaden its product offerings and solutions for the oil and gas industry.

Additional information about the Company can be found at: www.sdpi.com.

Safe Harbor Regarding Forward Looking Statements

This news release contains forward-looking statements and information that are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical fact included in this release, including, without limitations, the continued impact of COVID-19 on the business, the Company’s strategy, future operations, success at developing future tools, the Company’s effectiveness at executing its business strategy and plans, financial position, estimated revenue and losses, projected costs, prospects, plans and objectives of management, and ability to outperform are forward-looking statements. The use of words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project”, “forecast,” “should” or “plan, and similar expressions are intended to identify forward-looking statements, although not all forward -looking statements contain such identifying words. These statements reflect the beliefs and expectations of the Company and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, the duration of the COVID-19 pandemic and related impact on the oil and natural gas industry, the effectiveness of success at expansion in the Middle East, options available for market channels in North America, the deferral of the commercialization of the Strider technology, the success of the Company’s business strategy and prospects for growth; the market success of the Company’s specialized tools, effectiveness of its sales efforts, its cash flow and liquidity; financial projections and actual operating results; the amount, nature and timing of capital expenditures; the availability and terms of capital; competition and government regulations; and general economic conditions. These and other factors could adversely affect the outcome and financial effects of the Company’s plans and described herein. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

FINANCIAL TABLES FOLLOW.

⁽¹⁾ Adjusted EBITDA represents net income adjusted for income taxes, interest, depreciation and amortization and other items as noted in the reconciliation table. The Company believes Adjusted EBITDA is an important supplemental measure of operating performance and uses it to assess performance and inform operating decisions. However, Adjusted EBITDA is not a GAAP financial measure. The Company’s calculation of Adjusted EBITDA should not be used as a substitute for GAAP measures of performance, including net cash provided by operations, operating income and net income. The Company’s method of calculating Adjusted EBITDA may vary substantially from the methods used by other companies and investors are cautioned not to rely unduly on it.

For more information, contact investor relations:
Deborah K. Pawlowski
Kei Advisors LLC
(716) 843-3908
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SANTA CRUZ, Calif.--(BUSINESS WIRE)--Joby Aviation (NYSE: JOBY), a California-based company developing all-electric aircraft for commercial passenger service, today announced its financial results for first quarter 2022. Please visit the Joby investor relations website https://ir.jobyaviation.com/ to view the first quarter 2022 shareholder letter. Today the company will host a live audio webcast of its conference call to discuss the results at 2:00 p.m. PT (5:00 p.m. ET).

Additional Call Details:

What: Joby First Quarter 2022 Earnings Conference Call

When: Thursday, May 12, 2022

Time: 2:00 p.m. PT (5:00 p.m. ET)

Webcast: Upcoming Events section of the company website (www.jobyaviation.com)

Live Call: 1-877-407-3982 or 1-201-493-6780

A replay of the call will be available until midnight, Thursday, May 26, 2022, by dialing 1-844-512-2921 or 1-412-317-6671 and entering passcode 13728914.

About Joby Aviation

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient air taxi service beginning in 2024. The aircraft, which has a maximum range of 150 miles on a single charge, can transport a pilot and four passengers at speeds of up to 200 mph. It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transit. Founded in 2009, Joby employs more than 1,000 people, with offices in Santa Cruz, San Carlos, and Marina, California, as well as Washington, D.C. and Munich, Germany. To learn more, visit www.jobyaviation.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of Joby’s aircraft and its regulatory outlook, progress and timing. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially including: Joby’s ability to launch its aerial ridesharing service and the growth of the urban air mobility market generally; Joby’s ability to produce aircraft that meet its performance expectations in the volumes and on the timelines that it projects, Joby’s ability to launch a commercial passenger service beginning in 2024, as currently projected; the competitive environment in which it operates; its future capital needs; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards relating to its aircraft; its reliance on a third-party suppliers and service partners; uncertainties related to Joby’s estimates of the size of the market for its service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in its Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 28, 2022, and in other reports it files with or furnishes to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While Joby may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change.

Investors:
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+1-831-201-6006

Media:
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• First Quarter Revenue Increased 77% Year-Over-Year to $8.4 million  
• Media (Behavior and Commerce) Revenue Increased 73% Year-over-Year to $6.1 million
• 39% Year-Over-Year Growth in Total Installed Stalls – 2,548 as of March 31, 2022
• Added New Media Brand partners Showtime, Zoom, Bank of the West and T-Mobile to the platform; additional campaigns for PepsiCo, Disney, Aetna, and Sephora

SAN FRANCISCO--(BUSINESS WIRE)--Volta Inc. (NYSE: VLTA, VLTA WS) (“Volta” or the “Company”), an industry-leading electric vehicle (“EV”) charging network powering vehicles and commerce, today announced financial results for its fiscal first quarter ended March 31, 2022.

“We made continued progress against our strategy with total revenue growing 77%, media revenue up 73%, and total installed stalls growing 39% year-over-year,” said Brandt Hastings, Interim CEO, CRO at Volta. “New and expanded partnerships with top retail locations like Tanger Outlets and Six Flags, national advertisers such as T-Mobile and PepsiCo, as well as enhancements to our AI and data-science offerings, position us to further accelerate growth and ownership of the rapidly expanding electric mobility marketplace.”

Recent Key Company Highlights in 2022

New Partnership with Tanger Outlets – Announced a plan to install Volta charging stations at Tanger locations in nine U.S. markets, unlocking two new geographies for Volta. This agreement provides shoppers with access to a mix of DC Fast and AC charging with eye-catching charging stations located near the entrances of Tanger’s premium outlets. Tanger will also leverage Volta’s media network nationally, regionally, and locally as part of its omnichannel marketing partnership strategy.

Six Flags -Expanded relationship with this high-traffic entertainment venue where Volta’s charging and media model resonates. This expansion deal was for an additional five sites and 85 incremental stalls.

Volta Media Network™ Momentum - Added new media partners Showtime, Zoom, Bank of the West, and T-Mobile to the platform and ran additional campaigns for PepsiCo, Disney, Aetna, and Sephora.

Alabama's Electric Vehicle Infrastructure Plan - The State of Alabama leveraged Volta’s PredictEV^Ⓡ software product in its plan to deploy infrastructure intelligently, efficiently, and equitably to boost the economic impact of electric vehicle charging across the state.

Walgreens - Expanded partnership with 1,000 DC fast charging stalls at over 500 Walgreens throughout the U.S. This agreement furthers Volta’s DC fast charging expansion strategy and Walgreens’ support of initiatives that aim to lower emissions and make the planet healthier for communities everywhere.

First Quarter 2022 Financial Highlights

• Revenues increased 77% year-over-year to $8.4 million, compared to $4.7 million in the prior-year period.

Revenue by Category

• Selling, general and administrative expenses excluding stock-based compensation were $39.7 million, compared to $15.3 million in the prior period.
• Net loss was $48.1 million, compared to a loss of $65.2 million in the prior-quarter period.
• Adjusted EBITDA was $41.4 million loss, compared to $15.9 million loss in the prior-year period.
• Cash and marketable securities were $205.4 million as of March 31, 2022.
• Weighted average shares outstanding for the three months ended March 31, 2022 were 172.0 million.

Total Stalls Connected, including Site Partners

Total stalls connected as of March 31, 2022 was 2,548, representing a 39% year-over-year increase. A stall is attributed to a station based on the number of vehicles that can charge concurrently and there are certain configurations of Volta sites where one station is capable of charging more than one vehicle at a time. The Company added 218 stalls in the three months ended March 31, 2022 and now has stalls in 26 states.

Full Year 2022 Outlook

Based on current business conditions, business trends and other factors, for the full year ending December 31, 2022, the Company reiterates guidance of:

• Full year 2022 Revenue in the range of $70 million to $80 million
• Total incremental, connected stalls in the range of 1,700 to 2,000
• Total incremental, connected sites to be in the range of 650 to 750 sites

Second Quarter Outlook

Based on current business conditions, business trends and other factors, for the three months ending June 30, 2022, the Company provides guidance of:

• Second quarter Revenue in the range of $13 million to $14 million

Webcast and Conference Call Information

Company management will host a webcast and conference call on May 13, 2022, at 8:00 a.m. Eastern Time, to discuss the Company’s financial results and business operations updates.

Interested investors and other parties can listen to a webcast of the live conference call and access the Company’s first quarter update presentation by logging onto the Investor Relations section of the Company’s website at https://investors.voltacharging.com/.

The conference call can be accessed live over the phone by dialing +1-844-825-9789 (domestic) or + 1-412-317-5180 (international). A telephonic replay will be available approximately two hours after the call by dialing +1-844-512-2921, or for international callers, +1-412-317-6671. The pin number for the replay is 10166826. The replay will be available until 11:59 p.m. Eastern Time on May 27, 2022.

About Volta Inc.

Volta Inc. (NYSE: VLTA) is an industry-leading electric vehicle (“EV”) charging network powering vehicles and commerce. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop, and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into people’s daily routines, Volta’s goal is to benefit consumers, brands, and real-estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.

Non-GAAP Financial Information

This press release contains references to EBITDA and Adjusted EBITDA of Volta, which are adjusted from results based on generally accepted accounting principles in the United States (“GAAP”) and exclude certain expenses, gains and losses. The Company defines and calculates EBITDA as net loss attributable to Volta before the impact of interest income or expense, provision for income taxes, depreciation and amortization. The Company defines and calculates Adjusted EBITDA as EBITDA adjusted to exclude stock-based compensation expense and warrant valuation.

These non-GAAP financial measures are provided to enhance the user’s understanding of our prospects for the future and the historical performance for the context of the investor. The Company’s management team uses these non-GAAP financial measures in assessing performance, as well as in planning and forecasting future periods. These non-GAAP financial measures are not computed according to GAAP and the methods the Company uses to compute them may differ from the methods used by other companies. Non-GAAP financial measures are supplemental, should not be considered a substitute for financial information presented in accordance with GAAP and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.

Refer to the attached financial supplement for a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures for the three months ended March 31, 2022 and March 31, 2021.

Total Stalls Installed

Volta management considers “Total Stalls” as the total size of its installed charging network at the end of the period, including Volta-owned and network partner-owned charging stations operated by Volta. Volta’s management uses Total Stalls Installed for internal network planning and forecasting purposes, including evaluating the potential Behavior and Commerce revenue generating capacity of its charging network, which is generated through delivery of content by Volta’s partners across both Volta-owned and its network partner-owned charging stalls. In addition, Total Stalls Installed provides the basis for Volta’s assessment of its charging network operations as well. Volta believes that this performance measure provides meaningful, supplemental information regarding the Volta charging network that helps illustrate trends in its business and operating performance. Volta believes that this performance measure is helpful to its investors as it is used by management in assessing the growth of the Volta charging network.

Forward-Looking Statements

This press release includes forward-looking statements, which are subject to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “anticipates,” “feels,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, statements regarding Volta’s strategy and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: intense competition faced by Volta in the EV charging market and in its content activities; the possibility that Volta is not able to build on and develop strong relationships with real estate and retail partners to build out its charging network and content partners to expand its content sales activities; market conditions, including seasonality, that may impact the demand for EVs and EV charging stations or content on Volta’s digital displays; risks, cost overruns and delays associated with construction and installation of Volta’s charging stations; risks associated with any future expansion by Volta into additional international markets; cost increases, delays or new or increased taxation or other restrictions on the availability or cost of electricity; rapid technological change in the EV industry may require Volta to continue to develop new products and product innovations, which it may not be able to do successfully or without significant cost; the impact of competing technologies that could reduce the demand for EVs; the risk that Volta’s shift to including a pay-for-use charging business model and the requirement of mobile check-ins adversely impacts Volta’s ability to retain driver interest, content partners and site hosts; the EV market may not continue to grow as expected; the risk that Volta may fail to effectively build scalable and robust processes to manage the growth of its business and to expand its geographic footprint; the ability to protect its intellectual property rights; and those factors discussed in Volta’s Annual Report on Form 10-K for the year ended December 31, 2021 under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by other reports and documents Volta files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Volta undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.