~Company advances clean energy program with the installation of solar array and linear generators in California’s Inland Empire~

~Partnering with PowerFlex and Mainspring Energy, Lineage’s Colton Agua Mansa facility installs two linear generators, and among the first of its kind to integrate a linear generator with solar panels~

~This announcement is part of Lineage’s broader energy reduction strategy through which the Company commits to achieving net-zero carbon emissions by 2040~

NOVI, Mich.--(BUSINESS WIRE)--#onelineage--Lineage Logistics, LLC, the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced the installation of groundbreaking clean energy advancements at its facility in Colton, CA to establish the first facility in the Lineage network to generate 100% of its energy consumption on-site.

This announcement comes in tandem with Lineage’s commitment to becoming net-zero carbon by 2040 as a signatory of The Climate Pledge, representing the Company’s industry-leading charge for a more sustainable cold chain.

Aligned with President Biden’s announcement on October 13, 2021 to invest in a secure and sustainable supply chain in the United States, Lineage has installed a 3.3MW solar array and 460kW of linear generators at its Colton Agua Mansa facility in California’s Inland Empire that, combined, will produce 100% of the facility’s energy consumption on a net basis. These advancements are indicative of Lineage’s continued prioritization of energy reduction, which started with the introduction of the Company’s responsible energy reduction roadmap in 2015.

“Lineage always strives to be responsible leaders in the communities where we live and work, and our commitment to advancing the future of renewable energy at our locations is no exception,” said Chris Thurston, head of renewable energy projects for Lineage. “Lineage is already a model for the industry with our innovative development and deployment of industry-leading technologies. Responsibly creating our own energy is an important sustainability milestone, and I am excited to see how this achievement further inspires our commitment to carbon neutrality by 2040.”

Lineage partnered with PowerFlex, a national provider of renewable energy infrastructure, to install the rooftop solar array in Colton – the second largest solar array in the Company’s leading global network of temperature-controlled warehouses. The facility has 8,426 individual solar panels that will generate an estimated 5.4 million kilowatt-hours (kWh) of clean energy annually. The Colton array is one of several onsite solar installations that PowerFlex is supporting across Lineage’s distribution centers in the United States.

“As Lineage’s long-term partner in renewable energy, we are incredibly proud to share and help execute their bold vision for impactful solar solutions across their extensive network,” said PowerFlex Director Danny Ptak. “The onsite solar project in Colton demonstrates Lineage’s ongoing commitment to deploying innovative solutions to ensure that its operations are as sustainable as humanly possible.”

The onsite linear generators, a new technology launched in March by Mainspring Energy, create electricity using a low-temperature reaction of fuel and air. Distinct from an engine or fuel cell, a linear generator directly converts motion into electricity using chemical or thermal energy. The units ramp up and down usage to enable maximum use of the building’s solar array, ensuring reliability and optimal use of renewable power at all times. This increases the site’s resiliency by reducing grid dependency and lowers operating costs. Lineage’s Colton location is the first facility in the world with two linear generators, and the first of its kind to integrate a linear generator with solar panels. The two generators were installed in October.

“Commercial and industrial buildings account for more than a third of electricity usage in the United States and play an essential role in the energy transition,” said Mainspring CEO Shannon Miller. “Mainspring designed the linear generator to accelerate this transition by delivering resilient, sustainable, and affordable generation that is also ideal for pairing with solar and other renewables. We are proud to partner with Lineage, an industry leader and pioneer in deploying innovative energy technologies.”

In December 2020, Lineage’s increased its commitment to energy reduction by implementing new and innovative technologies. In 2021, Lineage was recognized by the United States Department of Energy for Outstanding Accomplishments in Energy Efficiency for the third year in a row and the Department of Energy’s Better Plants Challenge with a commitment to reduce energy intensity by 25% by 2024.

About Lineage Logistics

Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 19 countries across North America, Europe and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was listed as No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com)

About PowerFlex

PowerFlex delivers commercial and industrial customers a full range of turnkey clean energy solutions: solar, storage, smart EV charging, microgrids, and energy management systems. The Company was founded in 2017 by a Caltech research group who developed a patented Adaptive Load Management (ALM) technology to optimize power consumption across a large network of charging stations. PowerFlex Systems was acquired by EDF Renewables North America in 2019, and consolidated with EnterSolar, a leading commercial solar developer, in 2021 to expand its onsite solar offerings. For more information, visit www.powerflex.com.

About Mainspring Energy

Driven by its vision of the affordable, reliable, net-zero carbon grid of the future, Mainspring is delivering a new category of power generation — the linear generator — that delivers onsite, dispatchable, fuel-flexible power at low cost. Based in Menlo Park, Calif., Mainspring is backed by top-tier venture, strategic, and financial investors. www.mainspringenergy.com.

Lineage Logistics
Megan Hendricksen
949.247.5172
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AMES, Iowa--(BUSINESS WIRE)--$REGI #REGI--Renewable Energy Group, Inc. (NASDAQ: REGI) announced today that two new Board members have been appointed to the company’s Board of Directors.

Joining the Board are Mr. Dylan Glenn, Senior Executive at Eldridge Industries, and Ms. Niharika Taskar Ramdev, a former General Motors Executive. Both were appointed at the company’s November 9^th board meeting.

“We are thrilled to add Dylan and Niharika to our board. As the company advances its growth strategy, diversifying our board will continue to guide the company’s mission of delivering sustainable solutions and leading the way in the energy transition,” said Jeff Stroburg, Chairman of the Board. “Dylan and Niharika both bring impressive backgrounds and relative experience to REG’s areas of growth.”

Dylan Glenn is a senior executive at Eldridge Industries, a diversified holding company based in Greenwich, Connecticut. Prior to joining Eldridge, Mr. Glenn was CEO of KBBO Americas, LP, a U.S.-based investment vehicle for the KBBO Group, headquartered in the United Arab Emirates. Prior to KBBO Americas LP, Mr. Glenn was Senior Managing Director of Guggenheim Partners, where he joined in 2005. Glenn also has experience in the government and regulatory space, serving as Deputy Chief of Staff to Governor Sonny Perdue of Georgia and Special Assistant for Economic Policy to the President in the White House of George W. Bush.

Niharika Taskar Ramdev is a seasoned finance executive with global experience and has worked in the United States, India, China and Singapore. Ms. Ramdev held senior positions at General Motors for over twenty years. Her experience includes having served as Chief Financial Officer of the Global Cadillac division from 2018 to 2019, Chief Financial Officer of General Motors International from 2015 to 2018, Vice President of Finance and Treasurer from 2014 to 2015 and Chief Financial Officer for Global Purchasing and Supply Chain from 2011 to 2014.

Glenn will serve as a Class II Director and his term will expire at the company’s 2022 annual meeting. Ramdev will serve as a Class III Director and her term will expire at the company’s 2023 annual meeting.

About Renewable Energy Group

Renewable Energy Group, Inc. is leading the energy and transportation industries’ transition to sustainability by converting renewable resources into high-quality, sustainable fuels. Renewable Energy Group is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. Renewable Energy Group utilizes a global integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, Renewable Energy Group produced 519 million gallons of cleaner fuel delivering 4.2 million metric tons of carbon reduction. Renewable Energy Group is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.

Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the company advancing its growth strategy, its mission and its ability to lead the way in the energy transition. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the company’s ability to successfully execute its strategy and other risks and uncertainties described in REG’s annual report on Form 10-K for the year ended December 31, 2020 and subsequently filed Form 10-Q and other periodic filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.

Media Contact for Renewable Energy Group:
Katie Stanley
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Investor Relations Contact for Renewable Energy Group:
Todd Robinson
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- Energy management, emission reduction, sustainability and air quality solutions driving record growth -

TORONTO--(BUSINESS WIRE)--Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) ("Kontrol" or the "Company"), a leader in smart building technologies, announces that it continues to scale its technology and solutions as it surpasses 400 customer buildings and is set to double its market share in 2022. Accelerating energy costs, GHG emission penalties, stakeholder activism demanding more robust sustainability initiatives and the need for healthy buildings is driving record growth in the Company’s operating platform.

“The commercial, multi-residential and industrial building sectors are facing severe challenges with rising energy costs and the shift by Governments to penalize excessive GHG emissions,” said Paul Ghezzi, CEO of Kontrol Technologies. “In addition, shareholder activism is demanding that large real estate asset managers, owners and operators take immediate action to reduce emissions across their building portfolios. All of these factors are creating tailwinds in our business across our energy, emissions and air quality technology and service offerings.”

The Company has previously announced preliminary record revenues for Q3, 2021 of at least $18 Million (see press release dated October 13^th, 2021). Final results for Q3 will be presented on November 15^th.

Including the recent acquisition of Global HVAC and Automation (“Global”), the Company has previously announced a record order book of $160 Million. Based on its current order book and the new opportunities across its operating platform, Kontrol anticipates that it will double its customer building footprint in 2022 to 800 buildings. This is an internal management estimate based on the existing confirmed order book, the current quoting activity and the Company’s 2022 outlook. The growth in customer buildings should be considered forward looking information.

“The recent rise in energy and utility costs, coupled with concerns over GHG emissions and the importance of embedded intelligence to drive healthy and sustainable buildings is accelerating the building modernization cycle. We are currently quoting at record levels across our operating platform,” continues Ghezzi. “Kontrol continues to increase its brand and technology solutions platform for a growing blue chip customer base.”

About Kontrol Technologies Corp.

Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.

Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com

https://facebook.com/kontroltechcorp/
https://twitter.com/kontrolgroup
https://www.linkedin.com/company/kontrol-group

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.

Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.

However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that those technologies will not prove as effective as expected; those customers and potential customers will not be as accepting of the Company's product and service offering as expected; government and regulatory factors impacting the energy conservation industry, as well as the commercial, multi-residential and industrial building sectors

Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.

Kontrol Technologies Corp.
Paul Ghezzi
CEO
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180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8
Tel: (905) 766.0400

Investor Relations:
Brooks Hamilton
MZ Group – MZ North America
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Tel: +1 (949) 546.6326

Additional TEAF announcements include:
Upcoming distribution dates and amounts
Availability of third calendar quarter commentary
October monthly portfolio update

OVERLAND PARK, Kan.--(BUSINESS WIRE)--Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) today announced that the Board approved the adoption of a managed distribution policy and a 6.7% increase in its monthly distributions to $0.08 per share beginning in December and payable on the dates noted below. Based on TEAF’s current price of $14.91, the distribution represents an annualized distribution rate of 6.44%.

“This distribution increase coincides with the notable constructive outlook we hold for the underlying assets in the TEAF portfolio and further shift to sustainable investments moving into 2022. We are confident in the income generation and expected long-term total return of the portfolio, driven by the low correlation and differentiated income streams of the underlying assets, and we expect to monetize a portion of total return over time and return to shareholders in the form of monthly distributions,” said Nick Holmes, Managing Director and Portfolio Manager.

Upcoming distribution dates and amounts

TEAF monthly distributions are payable on December 31, 2021, January 31, 2022, and February 28, 2022, to shareholders of record on the respective dates of December 24, 2021, January 24, 2022, and February 21, 2022.

For book purposes, the source of distributions for TEAF is estimated to be approximately 90 to 100% ordinary income, with the remainder as return of capital. For tax purposes, the characterization will not be made until determination of earnings and profits after year end.

Availability of third calendar quarter commentary

TEAF commentary has been published for the third calendar quarter of 2021. The commentary piece highlights fund performance of the public and direct investments in the essential asset sectors in which the fund invests. A copy of the commentary piece is available here on the company website.

October monthly portfolio update

Additionally, an update on TEAF’s direct investments, portfolio asset allocation, structure types and impact statistics as of October 31, 2021 are provided on the company website here. On a monthly basis, details on each private deal that has taken place over the prior month will be published here. The list includes all deals completed since the fund’s inception through October 31, 2021. Updates will continue to be posted on a monthly basis until the fund reaches its target of 60% direct investments.

2021 Tax Characterization Information

For tax purposes, 60 to 80% of TEAF’s 2021 distributions are expected to be characterized as dividend income with the remainder as return of capital. A final determination of the characterization will be made in January 2022, and you will receive a form 1099-DIV for each fund in which you are invested.

For additional information on this fund, please visit cef.tortoiseecofin.com.

About Ecofin

Ecofin is a sustainable investment firm dedicated to uniting ecology and finance. Our mission is to generate strong risk-adjusted returns while optimizing investors’ impact on society. We are socially minded, ESG-attentive investors, harnessing years of expertise investing in sustainable infrastructure, energy transition, clean water & environment and social impact. Our strategies are accessible through a variety of investment solutions and seek to achieve positive impacts that align with UN Sustainable Development Goals by addressing pressing global issues surrounding climate action, clean energy, water, education, healthcare and sustainable communities. Ecofin Investments, LLC is the parent of registered investment advisers Ecofin Advisors, LLC and Ecofin Advisors Limited (collectively “Ecofin”). To learn more, please visit www.ecofininvest.com.

Tortoise Capital Advisors, L.L.C. (also dba TCA Advisors) (“TCA”) is the adviser to Ecofin Sustainable and Social Impact Term Fund and Ecofin Advisors Limited is the fund’s sub-adviser.

Safe harbor statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the fund and TCA believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the fund and TCA do not assume a duty to update this forward-looking statement.

For more information contact Maggie Zastrow at (913) 981-1020 or This email address is being protected from spambots. You need JavaScript enabled to view it..

HOUSTON--(BUSINESS WIRE)--Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) today announced that it has closed its previously announced underwritten public offering of $50 million aggregate principal amount of 8.25% senior notes due 2028. Proceeds from the offering, after deducting underwriting discounts and commissions, the structuring and advisory fee and estimated fees and expenses, were approximately $47.1 million. The Company has granted the underwriters a 30-day option to purchase an additional $7.5 million aggregate principal amount of senior notes in connection with the offering. The Company intends to use the net proceeds from this offering for general corporate purposes, including the potential acquisition of upstream assets.

Tellurian and this issuance of notes both received an investment grade rating of BBB+ from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.

B. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc. and William Blair & Company, L.L.C. acted as joint book-running managers for the offering. EF Hutton, division of Benchmark Investments, LLC, acted as lead manager, and Aegis Capital Corp., Boenning & Scattergood, Inc., Colliers Securities LLC, Newbridge Securities Corporation, Revere Securities LLC, Wedbush Securities Inc. and B.C. Ziegler and Company acted as co-managers for the offering.

The offering was made pursuant to an effective shelf registration statement of the Company previously filed with the Securities and Exchange Commission (the SEC). The offering was made only by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement for the offering and the accompanying prospectus may be obtained by sending a request to B. Riley Securities, Inc., Attention: Prospectus Department, 1300 North 17th Street, Suite 1300, Arlington, Virginia 22209; Telephone: (703) 312-9580, or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Tellurian Inc.

Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol “TELL.”

CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

Statements in this press release related to the use of proceeds from the Company’s public offering of senior notes and all other statements other than statements of historical fact are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from the forward-looking statements. Tellurian urges you to carefully review and consider the cautionary statements made in this press release, the registration statement, the “Risk Factors” section of the prospectus supplement for the offering and of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and other filings with the SEC for further information on risks and uncertainties that could affect the Company’s business, financial condition and results of operations. The Company cautions you not to place undue reliance on forward-looking statements, which speak only as of the date made. Tellurian undertakes no obligation to update any forward-looking statements in order to reflect any event or circumstance occurring after the date of this press release or currently unknown facts or conditions or the occurrence of unanticipated events. All forward-looking statements are qualified in their entirety by this cautionary statement.

Media:
Joi Lecznar
EVP Public and Government Affairs
Phone +1.832.962.4044
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Investors:
Matt Phillips
Vice President, Investor Relations
Phone +1.832.320.9331
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HOUSTON--(BUSINESS WIRE)--Expro Group Holdings N.V. (NYSE: XPRO) today announced that Michael Jardon, Chief Executive Officer, will present to members of the investment community at the Bank of America Securities 2021 Global Energy Conference at 1:00 p.m. ET on Thursday, November 18, 2021.

A live webcast of Expro’s presentation will be available via the Investor section of www.expro.com. Please log on at least 15 minutes early to register and to download any necessary audio software. A replay of the webcast will be available at the Investor section of Expro’s website for 90 days following the presentation. In addition, the conference presentation and script may be accessed via the Investor section of www.expro.com.

ABOUT EXPRO

Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and best-in-class safety and service quality. The company's extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well integrity and intervention.

Founded in 1938, Expro has more than 6,600 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries with over 100 locations.

For more information, please visit: expro.com and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.

Investor contact:
Karen David-Green – Chief Communications, Stakeholder & Sustainability Officer
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+1 281 994 1056

Media contact:
Hannah Rumbles – Global Marketing and Communications Manager
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+44 1224 796729

Renewable Energy Group Invests in Booster and Becomes an Exclusive Supplier of Renewable Fuels

AMES, Iowa--(BUSINESS WIRE)--$REGI #REG--Booster, the tech-enabled energy delivery service, and Renewable Energy Group (REG) (NASDAQ:REGI), a leading producer and provider of lower carbon fuels, today announced a first-of-its-kind partnership to provide mobile delivery of renewable diesel, biodiesel and blended fuels to fleets. The service started in California in August and has the potential to grow nationally.

The Booster / REG collaboration makes low-carbon fuels more accessible to clients, with convenient mobile fueling services provided by Booster. As businesses and fleets look for more sustainable solutions, REG’s bio-based diesel is easy to adopt and immediately begins reducing fossil carbon emissions. Under the new partnership, REG UltraClean Blend™ and other renewable and biodiesel fuels will be delivered to customers via Booster’s proprietary trucks, last-mile technology platform and certified drivers.

"This new service will let companies seamlessly transition their fleets to much lower-emission fuels with no equipment or infrastructure costs," said Frank Mycroft, CEO and co-founder, Booster. "Our partnership with REG will provide fleet operators with an ‘easy button’ to solve their sustainability, energy reliability and operational efficiency needs. Combining Booster and REG capabilities also offers fleet managers the data and intelligence required to meet increasingly ambitious environmental standards and business optimization targets.”

As part of the partnership, REG will be an exclusive supplier of bio-based diesel to Booster, and has become an investor in the company. Booster will also be an exclusive mobile fueler to REG and will partner with REG to explore expansion opportunities together.

“This collaboration is a perfect match for us, bringing together two innovative, sustainable solutions and building on our downstream strategy to reach customers and provide a first-class experience,” said REG Senior Vice President, Sales & Marketing, Bob Kenyon. “The energy transition is happening and this is the right place and right time for customers to adopt bio-based diesel and immediately reduce emissions in an easy and efficient manner. Our investment in Booster solidifies our commitment to enabling consumers with the ability to access clean fuel choices.”

Enterprise Holdings is a customer of Booster, and the company’s venture capital arm, Enterprise Holdings Ventures, is a Booster investor. In addition, the company’s affiliate, Enterprise Fleet Management, partners with Booster to deliver fuel services to small-to-medium sized fleets.

“We applaud Booster and REG for expanding service to include diverse renewable products that help existing fleets reduce environmental impact and realize their sustainability goals. This innovation is an essential component to the important vehicle decisions fleet operators make,” said Brice Adamson, Executive Vice President, Enterprise Fleet Management.

The REG / Booster collaboration will initially focus on servicing fleet customers in California, starting with the San Francisco Bay Area and Orange County, with additional markets to follow.

For more information about the service and partnership, visit the Booster and REG websites.

About Renewable Energy Group, Inc.

Renewable Energy Group (REG) is leading the energy industry's transition to sustainability by converting renewable resources into high-quality, cleaner fuels. REG is an international producer of cleaner fuels and one of North America’s largest producers of advanced biodiesel. REG solutions are alternatives for petroleum diesel and produce significantly lower carbon emissions. REG utilizes an integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, REG produced 519 million gallons of cleaner fuel, delivering 4.2 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future. For more information, visit regi.com.

About Booster

Booster is a tech-enabled mobile energy delivery company providing a more sustainable fueling experience to fleets and consumers. The company’s proprietary mini-tankers deliver energy directly to fleet and consumer customers to help them save on costs and meet decarbonization goals. At the same time, Booster’s data insights help fleet managers optimize their businesses. Booster has raised more than $108 million in funding from firms such as Invus Opportunities, Conversion Capital, Enterprise Holdings Ventures, Madrona Venture Group, Maveron, Perot Jain, L.P., Total Carbon Neutrality Ventures and Vulcan Capital. For more information, visit boosterusa.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding REG’s strategic growth plans, customer demand for low carbon fuels and the strategic partnership between REG and Booster. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the failure of REG and Booster to achieve the goals of their strategic partnership, customer’s desire for clean fuel options, and other risks and uncertainties described in REG’s annual report on Form 10-K for the year ended December 31, 2020 and subsequently filed Form 10-Q and other periodic filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.

Media Contact for Booster Fuels:
Jordan Valdés
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Media Contact for Renewable Energy Group:
Katie Stanley
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Distribution Amounts and Dates Declared for:
Tortoise Energy Infrastructure Corp. (NYSE: TYG)
Tortoise Midstream Energy Fund, Inc. (NYSE: NTG)
Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP)
Tortoise Energy Independence Fund, Inc. (NYSE: NDP)
Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ)

OVERLAND PARK, KS--(BUSINESS WIRE)--TortoiseEcofin and the Board of its closed-end funds today announced a fourth consecutive and noteworthy increase to quarterly distributions for TYG and NTG of 23.3% and 48.1%, respectively. As previously announced, TTP, NDP and TPZ have adopted managed distribution policies and those distribution amounts will be reviewed in February 2022, in accordance with their policies.

“The distribution increases for TYG and NTG are due to steady NAV growth and a refueling in demand within the energy infrastructure sector. The increases raise the distributions of both funds to levels in accordance with their distribution policies,” said Matt Sallee, President – Tortoise. “In alignment with the energy evolution taking place across the globe, TYG continues its strategic shift, positioning for the future of energy growth and toward a target portfolio of ~40% renewables and power infrastructure. Furthermore, we see tremendous opportunity and exceptional yields in midstream energy infrastructure, where NTG primarily invests, and we intend to pass that income to shareholders.”

Tortoise closed-end funds distribution details are as follows:

TYG, NTG, TTP and NDP quarterly distributions are payable on November 30, 2021, to shareholders of record on November 23, 2021. TPZ is expected to continue to declare distributions monthly, with the November distribution payable on November 30, 2021, to shareholders of record on November 23, 2021.

2021 Tax Characterization Information

For tax purposes, 80 to 100% of TYG and NTG’s 2021 distributions are expected to be characterized as qualified dividend income, with the remainder as return of capital; 0 to 10% of TTP and NDP’s 2021 distributions are expected to be characterized as dividend income, with the remainder as return of capital; and 40 to 60% of TPZ’s 2021 distributions are expected to be characterized as dividend income with the remainder as return of capital. A final determination of the characterization will be made in January 2022, and you will receive a form 1099-DIV for each fund in which you are invested.

For book purposes, the source of distributions for TYG and NTG is estimated to be 100% return of capital, and the source of distributions for NDP is estimated to be approximately 10 to 20% ordinary income, with the remainder as return of capital.

You should not draw any conclusions about TTP’s or TPZ’s investment performance from the amount of these distributions or from the terms of TTP’s or TPZ’s distribution policy.

TTP and TPZ estimate that they have distributed more than their income and net realized capital gains; therefore, a portion of the distribution may be return of capital. A return of capital may occur, for example, when some or all of the money that you invested in TTP and TPZ is paid back to you. A return of capital distribution does not necessarily reflect TTP’s and TPZ’s investment performance and should not be confused with “yield” or “income.”

TTP and TPZ will report the sources for their distributions at the time of the payment in the applicable Section 19(a) Notice. The amounts and sources of distributions TTP and TPZ report are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon TTP’s and TPZ’s investment experience during the remainder of their fiscal years and may be subject to changes based on tax regulations.

About TortoiseEcofin

TortoiseEcofin focuses on essential assets – those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior living. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. For additional information, please visit www.TortoiseEcofin.com.

Tortoise Capital Advisors, L.L.C. (also dba TCA Advisors) (“TCA”) is the adviser to Tortoise Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy Independence Fund, Inc., and Tortoise Power and Energy Infrastructure Fund, Inc.

For additional information on these funds, please visit cef.tortoiseecofin.com.

Safe harbor statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain statements that may include “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. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and TCA believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the funds and TCA do not assume a duty to update this forward-looking statement.

Maggie Zastrow
(913) 981-1020
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The award-winning cleantech consulting firm, Momentum (BuildMomentum.io) welcomes John Friedrich as a new strategist focused on electrification.

SACRAMENTO, Calif.--(BUSINESS WIRE)--#CleanTech--Momentum (Buildmomentum.io) is thrilled to announce the addition of John Friedrich to the company’s strategist team. Friedrich will work with clients to advance innovations in sustainability, clean energy, and electrification. He will support project implementation, developing and executing long-term innovation campaigns, fund and grant proposal development, and strategic communication.

Friedrich joins the team after decades of experience in electric vehicles, energy efficiency, distributed renewable energy generation programs, and environmental sustainability. He's currently serving on the South Lake Tahoe City Council and is a Tahoe Regional Planning Agency Governing Board member.

Friedrich is also the founder of the Tahoe Green Jobs Coalition and served as the organization's director. Friedrich built a diverse coalition of participating agencies, organizations, businesses, and funders through this organization.

"I'm passionate about decarbonizing transportation and moving toward a zero-emission energy future. I've long admired Momentum’s mission and values, and I’m excited to join the top-notch team," said Friedrich.

Friedrich is joining Momentum's newly minted Strategy Team, along with experts in utilities, ports and fleets, water, and renewable fuels.

"We've seen accelerated investment by organizations in decarbonization and sustainability plans, and we're here to guide them on that journey. John's background and experience make him a perfect guide for our clients looking to bring new electric vehicle projects online," said Momentum President Matt Hart. "We're extremely fortunate to have him on board."

Momentum has designed and deployed some of the most significant electric vehicles projects to date, from developing charging infrastructure from Mexico to Canada to rolling out more than 100 pieces of zero- and near-zero emission equipment at California's ports. Momentum will continue to push industries toward zero emissions, and Friedrich will be a crucial player in that push.

About Momentum

Momentum is a cleantech solutions firm based in Sacramento. The Momentum team of experts designs, develops, and deploys innovation campaigns for organizations working on transformative water, energy, transportation, and manufacturing technologies.

The Momentum team is driven by a vision of a world where clean energy, water, and transportation are abundant, affordable, and available to all.

Melody White, Creative Director, Momentum — This email address is being protected from spambots. You need JavaScript enabled to view it.

AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, today reported its third quarter 2021 financial results.

Key Business Highlights

• Announced the addition of Secretary Elaine Chao and Mary Gustanski to the Hyliion Board of Directors

• Secured a 40-unit reservation from Mone Transport and partnered with GreenPath Logistics for the initial controlled fleet trials of the Hypertruck ERX

• Unveiled new Hypertruck ERX showcase unit at ACT Expo, generating strong fleet, industry and regulatory interest

• Launched improved Hybrid powertrain solution called “Hybrid eX” and expect to begin recognizing revenue on these units in the fourth quarter of 2021

• Initiating the Hypertruck ERX Roadshow, beginning at Wegmans headquarters on November 10^th, to allow fleets to experience the flagship product firsthand

• Supply chain shortages and long lead times for components, coupled with the required development, testing and validation of the Hypertruck ERX, are impacting the commercialization timeline

Executive Commentary

Thomas Healy, Hyliion’s Founder and Chief Executive Officer, said, “After a first half of the year filled with rapid progress and growth for Hyliion, our team continues to build on this momentum as evidenced by the commercial launch of our Hybrid eX powertrain and accomplishment of some major milestones in our Hypertruck ERX Multi-Phase Development Program.”

"Today we begin our Hypertruck ERX Roadshow at the headquarters of Wegmans Food Markets, one of our Hypertruck Innovation Council Members, with a two-day showcase event focused on demonstrating the features and benefits of the powertrain firsthand. As we continue providing these showcases to our Hypertruck Innovation Council Members and other interested fleets, we expect to see a continued increase in the customer interest that we have already been receiving.”

Board of Directors Expansion

Hyliion elected to expand the size of its board of directors from seven to nine members, adding Secretary Elaine Chao and Mary Gustanski.

Secretary Elaine Chao is a highly experienced leader of large public, private and non-profit organizations. Secretary Chao brings an invaluable perspective on global competitiveness, workforce development, trends in governmental policies, and corporate governance. While Secretary of Transportation, she advanced an agenda of American innovation in building the transportation system of the future. During her time at the Department of Labor, she focused on increasing the competitiveness of America’s workforce in the global economy.

Mary Gustanski has spent her nearly 40-year career bringing new technology to market in the ever-evolving automotive industry, with an emphasis on the development and commercialization of innovative solutions. As Senior Vice President and Chief Technology Officer of Delphi Technologies—formerly Delphi Automotive—she was responsible for the company’s global technology production, including advanced propulsion systems for future vehicle electrification.

Hypertruck ERX Fleet Update

Hyliion has secured a 40-unit reservation for the Hypertruck ERX from Mone Transport, a Texas-based carrier company, who is also an early adopter of the Hyliion Hybrid solution. Mone Transport believes the future of trucking is sustainable, but as part of their business model, their trucks need to travel hundreds of miles every day, which is where the Hypertruck ERX can offer a low-cost, low-emission and long-range electric solution. The purchase and sale of the 40 Hypertruck ERX units is subject to the execution of a final agreement between Hyliion and Mone Transport.

The unveiling of the Hypertruck ERX showcase unit at the ACT Expo on August 31, 2021, marked the start of a robust marketing program for this flagship product. Hyliion received overwhelmingly positive feedback from fleets and suppliers that were able to see this solution up close for the first time. Shortly after the tradeshow, Hyliion showcased the vehicle with the oil and gas industry at the Daniel Energy Partners’ event in Odessa, Texas.

In October, Hyliion executed on a select number of ‘ride along’ events with the Hypertruck ERX at its headquarters in Austin, Texas. One participant was the CEO of GreenPath Logistics, a member of the Hypertruck Innovation Council. After a very positive experience of riding in the Hypertruck ERX, GreenPath Logistics requested to further collaborate with Hyliion and begin initial deployments of controlled fleet trials in their operations. With GreenPath located in Dallas, Texas, Hyliion’s team will be able to closely monitor these trucks to ensure strong vehicle performance as fleet trials begin.

Today, Hyliion is embarking on another critical milestone with the kickoff of its Hypertruck ERX Roadshow. This program begins with the first stop at the Wegmans Food Markets headquarters in Rochester, NY. These events will consist of ride-alongs and in-depth product education. Hyliion plans to host another larger showcase event at its Austin, Texas headquarters in early December along with other future events to allow more Hypertruck Innovation Council members and additional interested fleets to experience the Hypertruck ERX firsthand.

Hypertruck ERX Timing Update

While Hyliion recently achieved critical product milestones, supply chain challenges and enhancements to the Multi-Phase Development Program have led to an extension in the go-forward development timeline. Similar to others in the automotive industry, the shortage of semiconductors, as well as several other key components, is extending the Company’s timelines longer than expected. These supply chain challenges have been especially prominent in the trucking industry, and one of the impacts has been significantly extended lead times for ordering new trucks. Fleets are experiencing lead times on new truck purchases that extend out for delivery into 2023. Hyliion has already placed orders for all vehicles needed in 2022 and is working to secure build slots for the 2023 calendar year in an effort to mitigate further supply chain impacts to Hyliion’s updated Hypertruck ERX development schedule. In addition, the Multi-Phase Development Program timeline has been extended to allow for design verification and additional testing inclusive of critical summer and winter seasons, as well as the accumulation of up to one million miles prior to production.

Hyliion expects to complete design verification and initial controlled fleet trials, as mentioned above, by the end of 2022. This will then be followed by additional key milestones including additional fleet trials, incorporating any of the learnings from validation into the finalized design, and obtaining final regulatory approvals prior to the start of production. Hyliion continues to work closely with its current supply base to improve delivery of components for the quarters ahead and is diligently seeking alternative sources of supply for components that meet its technical specifications with shorter lead times.

Commercial Hybrid eX Launch and Sales Update

Hyliion officially launched its commercial Hybrid eX powertrain solution on August 31, 2021, at the ACT Expo in Long Beach, CA. Compared to previous Hyliion Hybrid systems, the Hybrid eX offers fleets a lighter solution that is easier to install, service and operate. The Hybrid eX draws upon the real-world feedback Hyliion has received from customers and the millions of miles logged with the previous system.

Hyliion recently delivered its first Hybrid eX system to Werner Enterprises, a Hypertruck Innovation Council member and new Hybrid eX customer. As previously announced, due to shortages of various components caused by global supply chain disruptions, Hyliion is experiencing longer delivery times to customers which is causing some of Hyliion’s deliveries to be delayed into early 2022. In addition, the Company is assessing the potential demand impact for its Hybrid eX product offering in light of recent changes within the competitive landscape.

Financial Highlights and Operating Expense Guidance

Hyliion ended the third quarter 2021 with over $588 million available to fund its current commercialization plans for its Hybrid eX and Hypertruck ERX powertrains. This is divided into $289.5 million in cash and cash equivalents on its balance sheet, short-term investments of $144.5 million and long-term investments of $155.0 million.

Hyliion expects to begin recognizing revenue on its Hybrid eX deliveries in the fourth quarter of 2021, achieving the target outlined on the second quarter 2021 earnings call.

For the first three quarters of 2021, Hyliion’s operating expenses totaled $67.0 million, and Hyliion now expects full year 2021 operating expenses to range between $110 million and $120 million, a reduction compared to previously disclosed guidance range of $130 million to $140 million, due primarily to timing delays of truck chassis purchases for development purposes.

Third Quarter 2021 Conference Call

Hyliion will host a conference call and webcast for investors and other interested parties to review its third quarter 2021 financial results on Wednesday, Nov. 10, 2021 at 11:00 a.m. Eastern Time. A live webcast of the call, as well as an archived replay following, will be available online on the Investor Relations section of Hyliion’s website. Those wishing to participate can access the call using the links below:

Conference Call Online Registration: http://www.directeventreg.com/registration/event/2279822

Webcast: https://investors.hyliion.com/events-and-presentations/default.aspx

Third quarter 2021 financial results for Hyliion Holdings Corp. (f/k/a Tortoise Acquisition Corp.) on a consolidated basis will also be filed with the SEC on Form 10-Q.

About Hyliion

Hyliion’s mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.

Forward Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, Hyliion’s ability to disrupt the powertrain market, Hyliion’s focus in 2021 and beyond, the effects of Hyliion’s dynamic and proprietary solutions on its commercial truck customers, accelerated commercialization of the Hypertruck ERX, the ability to meet 2021 and future product milestones, the impact of COVID-19 on long-term objectives, the ability to reduce carbon intensity and greenhouse gas emissions and the other risks and uncertainties set forth in “Risk Factors” section of Hyliion’s annual report on Form 10-K/A filed with the Securities and Exchange Commission (the “SEC”) on May 17, 2021 for the year ended December 31, 2020. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.

Hyliion Holdings Corp.
Investor Contact
Louis Baltimore
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Press Contact
Ryann Malone
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(833) 495-4466

DUBLIN--(BUSINESS WIRE)--The "India Solar Water Pumping System Market (2021-2027): Market Forecast By Power Rating, By Design Type, By Drive Type, By Applications, By Regions and Competitive Landscape." report has been added to ResearchAndMarkets.com's offering.

India's Solar Water Pumping Systems Market size is projected to grow at CAGR of 7.0% during 2021-2027

This report comprehensively covers the market by power rating, design type, drive type, applications, and regions. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities, high growth areas, and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Indian Solar Water Pumping Systems Market Synopsis

India's Solar Water Pumping Systems Market has been exhibiting substantial growth over the past few years. Growing adoption of renewable energy resources, especially solar, along with government initiatives such as the "Pradhan Mantri - Kisan Urja Suraksha evam Utthan Mahabhiyaan (PM KUSUM)" scheme with the aim to install 20 lakh units of standalone Solar Water Pumping Systems by 2022, would act as driving forces behind growing market demand for solar water pumps.

Further, subsidy provisions and lower operating costs of the Solar Water Pumping Systems would incentivize the farmers to increase the adoption of solar water pumps over the coming years. However, COVID- 19 pandemic impacted on the growth of the deployment of the pumps across the country, but state governments and central government policies such as Maharashtra's Mukhyamantri Saur Krishi Pump Yojana, solar program by NREDCAP, among others, are expected to increase the annual sales of the Solar Water Pumping Systems in the coming years.

India Solar Water Pumping Systems market is mainly subsidy driven, where direct sales accounts for a negligible share in the market. The financial aid is only extended for up to the 7.5HP solar water pumping category. Thus, the growth in the respective segment of solar-based water pumping system showed a better increase in past years.

However, falling prices of the Solar Water Pumping Systems of the ratings mentioned above on the back of increasing competitiveness in the market are expected to create a moderate drag on the growth of market revenues over the coming years.

Market Analysis by Power Rating

Among power ratings, solar pumps with lower power ratings bagged the highest volume share in 2020. Moreover, up to 3 HP segment is projected to exhibit the highest growth rate during the forecast period, attributed to its affordability, durability, and higher incentives and subsidies provided by the government on such pumps.

Also, with the lower groundwater level, the demand for submersible Solar Water Pumping Systems outweighs the demand for its other counterpart. However, the surface solar water pumping segment is projected to exhibit high growth over the coming years.

Key Attractiveness of the Report

• COVID-19 Impact on the Market
• 10 Years Market Numbers
• Historical Data Ranging from 2017 to 2020
• Key Performance Indicators Impacting the Market
• Major Upcoming Developments and Projects

Key Topics Covered:

1. Executive Summary

2. Introduction

3. India Solar Water Pumping System Market Overview

3.1. India Solar Water Pumping System Market Revenues & Volume (2016-2027F)

3.2. India Solar Water Pumping System Market Revenue & Volume Share (2020 & 2027F)

3.3. India Solar Water Pumping System Market Porter's Five Forces

3.4. India Solar Water Pumping System Market Ecosystem

3.5. India Solar Water Pumping System Cost Analysis

4. India Solar Water Pumping System Market Dynamics

4.1. Impact Analysis

4.2. Market Drivers

4.3. Market Restraints

5. India Solar Water Pumping System Market Trends

6. India Solar Off-Grid Water Pumping System Market Overview

6.1. India Solar Off-Grid Water Pumping System Market Revenues and Volume (2016-2027F)

6.2. India Solar Off-Grid Water Pumping System Market Revenue & Volume Share, By Power Rating (2020 & 2027F)

6.3. India Solar Off-Grid Water Pumping System Market Revenue & Volume Share, By Design Type (2020 & 2027F)

6.4. India Solar Off-Grid Water Pumping System Market Revenue & Volume Share, By Drive Type (2020 & 2027F)

6.5. India Solar Off-Grid Water Pumping System Market Revenue & Volume Share, By Applications (2020 & 2027F)

6.6. India Solar Off-Grid Water Pumping System Market Revenue Share, By Regions (2020 & 2027F)

7. India Solar On-Grid Water Pumping System Market Overview

7.1. India Solar On-Grid Water Pumping System Market Revenues and Volume (2016-2027F)

7.2. India Solar On-Grid Water Pumping System Market Revenue & Volume Share, By Power Rating (2020 & 2027F)

7.2.1. India Solar On-Grid Water Pumping System Market Revenues, By Power Rating (2016-2027F)

7.2.2. India Solar On-Grid Water Pumping System Market Volume, By Power Rating (2016-2027F)

8. India Solar Water Pumping System Market, Price Trend Analysis

9. India Solar Water Pumping System Market Opportunity Assessment

9.1. India Off-Grid Solar Water Pumping System Market Opportunity Assessment, By Power Rating (2027F)

9.2. India Off-Grid Solar Water Pumping System Market Opportunity Assessment, By Design Type (2027F)

9.3. India On-Grid Solar Water Pumping System Market Opportunity Assessment, By Power Rating (2027F)

10. India Solar Water Pumping System Market, Competitive Landscape

10.1. India Solar Water Pumping System Market Revenue Share, By Company, 2020

10.2. India Solar Water Pumping System Market Competitive Benchmarking, By Technical Parameter

10.3. India Solar Water Pumping System Market Competitive Benchmarking, By Operating Parameter

11. Company Profiles

11.1. Alpex Solar Private Limited

11.2. Bright Solar Private Limited

11.3. C.R.I. Pumps Private Limited

11.4. Claro Energy Private Limited

11.5. Grundfos Pump India Private Limited

11.6. Jain Irrigation Systems Limited

11.7. Lubi Industries LLP

11.8. Ravindra Energy Limited

11.9. Rotomag Motors & Control Private Limited

11.10. Shakti Pumps (India) Limited

11.11. Tata Power Solar Systems Limited

11.12. Topsun Energy Limited

11.13. Waaree Energies Limited

12. Key Strategic Recommendations

For more information about this report visit https://www.researchandmarkets.com/r/rzivn8

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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VANCOUVER, British Columbia--(BUSINESS WIRE)--Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell solutions, is pleased to announce Damian Towns will join the company as Chief Financial Officer on November 15, 2021.

Mr. Towns joins Loop Energy from Photon Control, a Richmond, BC-based optical sensors supplier to the world's largest semi-conductor OEMs. As the Chief Financial Officer and Corporate Secretary, Mr. Towns guided Photon's exponential growth and maximized shareholder revenue through its recent acquisition. He brings deep expertise and technical knowledge in corporate finance, financial planning, accounting, governance, and investor relations. Loop Energy is also excited to draw on Mr. Towns' strategic and financial experience managing organizations with manufacturing operations and research & development activities.

Mr. Towns brings over 25 years of experience in progressive and rapid-growth companies, spending 15 years leading organizations at the executive level. Prior to his role at Photon Control, Mr. Towns served as an Executive Director, CFO and Corporate Secretary at Liberty Defense (TSXV: SCAN), a technology company that provides Active 3D Imaging and AI software to address security challenges. His career also includes over 12 years as CFO and Corporate Secretary at Marimaca Copper (TSX: MARI), formerly Coro Mining. Mr. Towns holds both CPA and CA designations, along with a First-Class Honours degree in accounting and finance from the University of Otago, New Zealand.

The arrival of Mr. Towns continues to strengthen Loop Energy as a leader in hydrogen fuel cell technology. With significant international experience in high-growth companies, he is well-positioned to provide strategic oversight as Loop enters new markets and expands its global footprint. Mr. Towns will also oversee investor relations initiatives.

"I am excited to be joining Loop Energy's world-class team and to augment the existing leadership team already in place," said Damian Towns. "Hydrogen fuel cells have an increasingly important role to play in reducing global carbon emissions and supporting the clean energy transition. l believe Loop's technology, innovation and performance will place it at the forefront of the electrification industry growth curve."

"Damian's experience scaling progressive companies both internationality and in North America will be an important addition as Loop continues to expand in various markets," said Ben Nyland, President & Chief Executive Officer at Loop Energy. "We believe Damian is a tremendous hire and one that will bring strategic value to our executive team as we continue to grow."

About Loop Energy Inc.

Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including, light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop's products feature the Company's proprietary eFlow™ technology in the fuel cell stack's bipolar plates. eFlow™ was designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflect management's current expectations and projections 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 and could cause actual results and events to vary materially from those that are disclosed, or implied, by such forward-looking information. Such risks and uncertainties include, but are not limited to, the ability of the Company to execute on its strategy and the factors discussed under "Risk Factors" in the Company's Annual Information Form dated March 30, 2021. Loop disclaims any obligation to update these forward-looking statements.

Loop Energy Media Contact: Ethan Hugh | Tel: +1.604.222.3400 x 304 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Loop Energy Business Contact: George Rubin | Tel: +1.604.828.8185 | This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Nigerian Diesel Genset Market (2021-2027): Market Forecast by kVA Rating, by Verticals, by Regions, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

The Nigerian Diesel Genset Market declined by -5.2% in 2017- 2020 but is expected to grow at a CAGR of 3.7% during 2021-2027

Nigeria occupies 1st position in terms of the market size in the African Diesel Genset market.

In terms of market by kVA ratings, 375.1KVA-750kVA dominates the market and is expected to remain in a dominant position in the coming years. However, 75.1kVA-375kVA rating is expected to have the fastest growth rate among all ratings.

In terms of application, the industrial sector dominates the market and is expected to remain in a dominant position in the coming years. However, the commercial sector is expected to have the fastest growth rate among all applications.

The Nigerian Diesel Genset Market report comprehensively covers the market by kVA ratings, applications, and regions. The Nigerian Diesel Genset Market outlook report provides an unbiased analysis of the ongoing Nigeria Diesel Genset market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Key Topics Covered:

1 Executive Summary

2 Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3 Nigeria Diesel Genset Market Overview

3.1 Nigeria Country Macro Economic Indicators

3.2 Nigeria Diesel Genset Market Revenues & Volume, 2020 & 2027F

3.3 Nigeria Diesel Genset Market - Industry Life Cycle

3.4 Nigeria Diesel Genset Market - Porter's Five Forces

3.5 Nigeria Diesel Genset Market Revenues & Volume Share, By KVA, 2020 & 2027F

3.6 Nigeria Diesel Genset Market Revenues & Volume Share, By Application, 2020 & 2027F

4 Nigeria Diesel Genset Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5 Nigeria Diesel Genset Market Trends

6 Nigeria Diesel Genset Market, By Types

6.1 Nigeria Diesel Genset Market, By KVA

6.1.1 Overview and Analysis

6.1.2 Nigeria Diesel Genset Market Revenues & Volume, By KVA, 2018 - 2027F

6.1.3 Nigeria Diesel Genset Market Revenues & Volume, By 5 - 75 KVA, 2018 - 2027F

6.1.4 Nigeria Diesel Genset Market Revenues & Volume, By 75.1 - 375 KVA, 2018 - 2027F

6.1.5 Nigeria Diesel Genset Market Revenues & Volume, By 375.1 - 750 KVA, 2018 - 2027F

6.1.6 Nigeria Diesel Genset Market Revenues & Volume, By 750.1 - 1000 KVA, 2018 - 2027F

6.1.7 Nigeria Diesel Genset Market Revenues & Volume, By Above 1000 KVA, 2018 - 2027F

6.2 Nigeria Diesel Genset Market, By Application

6.2.1 Overview and Analysis

6.2.2 Nigeria Diesel Genset Market Revenues & Volume, By Residential, 2018 - 2027F

6.2.3 Nigeria Diesel Genset Market Revenues & Volume, By Commercial , 2018 - 2027F

6.2.4 Nigeria Diesel Genset Market Revenues & Volume, By Industrial, 2018 - 2027F

6.2.5 Nigeria Diesel Genset Market Revenues & Volume, By Transportation & Public Infrastructure, 2018 - 2027F

7 Nigeria Diesel Genset Market Import-Export Trade Statistics

7.1 Nigeria Diesel Genset Market Export to Major Countries

7.2 Nigeria Diesel Genset Market Imports from Major Countries

8 Nigeria Diesel Genset Market Key Performance Indicators

9 Nigeria Diesel Genset Market - Opportunity Assessment

9.1 Nigeria Diesel Genset Market Opportunity Assessment, By KVA, 2020 & 2027F

9.2 Nigeria Diesel Genset Market Opportunity Assessment, By Application, 2020 & 2027F

10 Nigeria Diesel Genset Market - Competitive Landscape

10.1 Nigeria Diesel Genset Market Revenue Share, By Companies, 2020

10.2 Nigeria Diesel Genset Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

• Caterpillar Inc.
• Cummins Inc.
• Denyo Co, Ltd.
• Honda Manufacturing (Nigeria), Ltd
• JMG Limited.
• Jubaili Bros Engineering Ltd.
• Kirloskar Oil Engines Ltd.
• Mikano International Ltd.
• YorPower Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/osu3uu

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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KANSAS CITY, Mo.--(BUSINESS WIRE)--CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) ("CorEnergy" or the "Company") today announced financial results for the third quarter, ended September 30, 2021.

Third Quarter 2021 and Recent Highlights

• Reported consolidated revenue of $37.0 million for the three months ended September 30, 2021 including a nonrecurring $2.2 million pipeline measurement gain.
• Average transported crude oil volumes increased 1.6% from second quarter.
• Declared a third quarter 2021 Common Stock dividend of $0.05 per share and a 7.375% Series A Cumulative Redeemable Preferred Stock dividend of $0.4609375 per depositary share. Both dividends will be paid on November 30, 2021, to stockholders of record on November 16, 2021.

Management Commentary

“Production volumes improved slightly in the third quarter, as did volumes transported on Crimson's pipelines, but remained below pre-COVID levels primarily due to permitting constraints in California and producers electing to return capital to stakeholders,” said Dave Schulte, Chief Executive Officer. “Since the crude production rebound and additional commercial opportunities did not materialize as quickly as anticipated, management is reducing our outlook for the back half of 2021 but believe we will continue to earn and pay our $0.20 annualized common dividend. When these constraints are relaxed, current crude prices make underlying production economics attractive, potentially leading to additional volume growth.”

“As a result of the shareholder vote, a substantial portion of the equity used in the Crimson and internalization transactions is held by management and subordinated to our common shares, demonstrating our confidence in the long-term financial performance of the business. We believe that CorEnergy has become an industry leading platform to own infrastructure assets, including energy transition opportunities, providing stockholders with dividend stability and prospects for modest long-term growth.”

Third Quarter Performance Summary

Third quarter 2021 reflects full impact of the activity from Crimson. Third quarter financial highlights are as follows:

¹ Adjusted Net Income excludes special items of $213 thousand which are transaction costs; however CAD has not been so adjusted. Reconciliations of Adjusted Net Income and CAD, as presented, to Net Income (Loss) and Net Cash Provided by Operating Activities are included at the end of this press release. See Note 1 below for additional information.

² Adjusted EBITDA excludes special items of $213 thousand which are transaction costs. Reconciliation of Adjusted EBITDA, as presented, to Net Income (Loss) is included at the end of this press release. See Note 2 below for additional information.

³ Our third quarter results include a $2.2 million pipeline measurement gain which is not recurring. Over time, we expect the measurement gains and losses to cancel out.

Business Development Activities

CorEnergy maintains an active pipeline of business development opportunities, including traditional infrastructure and potential-alternative uses for its rights of way. The Company closely evaluates potential opportunities to ensure alignment with REIT qualifying business activities. CorEnergy has identified multiple opportunities for negotiated transactions that could expand the Company's market reach or REIT qualifying revenue sources. The Company will continue to prudently advance these opportunities.

Outlook

We have reduced our previously provided outlook for the second half of 2021 to annualized EBITDA of $42-44 million (excluding the $2.2 million nonrecurring measurement gain) as a result of current market conditions, including natural gas cost for heating, plus the impact of the pipeline shut-in due to the off-shore oil spill in California. The Company expects to provide its 2022 outlook no later than in connection with the filing of its Form 10-K for 2021.

Dividend and Distribution Declarations

The Company currently expects all of its 2021 Common Stock and Preferred Stock dividends will be characterized as Return of Capital for tax purposes.

Common Stock: A third quarter 2021 dividend of $0.05 per share was declared for CorEnergy's common stock. The dividend will be paid on November 30, 2021, to stockholders of record on November 16, 2021.

Preferred Stock: For the Company's 7.375% Series A Cumulative Redeemable Preferred Stock, a cash dividend of $0.4609375 per depositary share was declared. The preferred stock dividend, which equates to an annual dividend payment of $1.84375 per depositary share, will be paid on November 30, 2021, to stockholders of record on November 16, 2021.

Class A-1 Units: Pursuant to the terms of the Crimson transaction, the holders of Crimson Class A-1 Units received a cash distribution of $0.4609375 per unit based on the Company’s declared Series A Preferred dividend.

Class A-2 and Class A-3 Units: Pursuant to the terms of the Crimson transaction, the holders of Crimson Class A-2 and Class A-3 Units did not receive a cash distribution this quarter, since no dividend was declared on the underlying Class B Common Stock.

Third Quarter Results Call

CorEnergy will host a conference call on Tuesday, November 9, 2021 at 10:00 a.m. Central Time to discuss its financial results. Please dial into the call at +1-201-689-8035 at least five minutes prior to the scheduled start time. The call will also be webcast in a listen-only format. A link to the webcast will be accessible at corenergy.reit.

A replay of the call will be available until 10:00 a.m. Central Time on December 9, 2021, by dialing +1-919-882-2331. The Conference ID is 40743. A webcast replay of the conference call will also be available on the Company’s website, corenergy.reit.

About CorEnergy Infrastructure Trust, Inc.

CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) is a real estate investment trust that owns and operates or leases regulated natural gas transmission and distribution lines and crude oil gathering, storage and transmission pipelines and associated rights-of-way. For more information, please visit corenergy.reit.

Forward-Looking Statements

This press release contains certain statements that may include "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. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although CorEnergy believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including, among others, failure to realize the anticipated benefits of the Crimson transaction; the risk that CPUC approval is not obtained, is delayed or is subject to unanticipated conditions that could adversely affect CorEnergy or the expected benefits of the Crimson transaction; risks related to the uncertainty of the projected financial information with respect to Crimson, and those factors discussed in CorEnergy’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, CorEnergy does not assume a duty to update any forward-looking statement. In particular, any distribution paid in the future to our stockholders will depend on the actual performance of CorEnergy, its costs of leverage and other operating expenses and will be subject to the approval of CorEnergy’s Board of Directors and compliance with leverage covenants.

Notes

¹ Management uses CAD as a measure of long-term sustainable performance. Adjusted Net Income and CAD are non-GAAP measures. Adjusted Net Income represents net income (loss) adjusted for gain on sale of equipment and transaction-related costs. CAD represents Adjusted Net Income adjusted for depreciation, amortization and ARO accretion (cash flows) and deferred tax expense (benefit) less transaction costs; maintenance capital expenditures; preferred dividend requirements and mandatory debt amortization. Reconciliations of Adjusted Net Income and CAD to Net Income (Loss) and Net Cash Provided By Operating Activities are included in the additional financial information attached to this press release.

² Management uses Adjusted EBITDA as a measure of operating performance. Adjusted EBITDA represents net income (loss) adjusted for items such as gain on sale of equipment; and transaction-related costs. Adjusted EBITDA is further adjusted for depreciation, amortization and ARO accretion expense; income tax expense (benefit) and interest expense. The reconciliation of Adjusted EBITDA to Net Income (Loss) is included in the additional financial information attached to this press release.

Non-GAAP Financial Measurements (Unaudited)

The following table presents a reconciliation of Net Income (Loss), as reported in the Consolidated Statements of Operations, to Adjusted Net Income (Loss) and CAD:

The following table reconciles net cash provided by operating activities, as reported in the Consolidated Statements of Cash Flows to CAD:

The following table presents a reconciliation of Net Income (Loss), as reported in the Consolidated Statements of Operations, to Adjusted EBITDA:

Source: CorEnergy Infrastructure Trust, Inc.

CorEnergy Infrastructure Trust, Inc.
Investor Relations
Debbie Hagen or Matt Kreps
877-699-CORR (2677)
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SAN FRANCISCO--(BUSINESS WIRE)--The Business Council on Climate Change (BC3), a multi-sector partnership dedicated to incubating, scaling, and sharing world-leading solutions to address climate change, has launched a major new effort to catalyze carbon removal investments by the corporate sector.

Carbon removals--the removal or sequestration of carbon from the atmosphere through natural or engineered solutions--are an increasingly important strategy alongside emissions reductions for meeting global climate goals. Carbon removals can also deliver broader ecological benefits and bring socio-economic advantages to local communities, including those that are most impacted by climate change and ecosystem loss.

“We need bold and immediate action to meet the urgency of the climate crisis,” said BC3 Executive Director Maura McKnight. “Collaboration by the corporate sector in the growing carbon removals space can spur the innovation needed to bring it to scale and maximize its impact.”

The Science Based Targets initiative (SBTi), in launching its new Net-Zero Corporate Standard last week, emphasized that companies will need to neutralize residual emissions through carbon removals to reach net zero. A number of corporate climate leaders, including several BC3 members, have already included it in their strategies, but the market is complex and immature, and many companies are just starting to explore it. In September, BC3 released a Quick Start Guide to Carbon Removals, in partnership with member companies Atlassian and Autodesk and subject experts Carbon180 and Anthesis, to help companies learn about removals and the market, and kick-start their investments.

BC3, which has a history of bringing members together to create innovative aggregate purchasing for solar energy and invest in soil carbon sequestration research, is also convening a carbon removals buyers forum. The forum brings together members, outside experts, and other companies interested in expanding their sustainability investments to foster collaborative learning, problem solving and action. Coordinated corporate investments and inclusion of carbon removals in companies’ sustainability strategies will send a strong “demand signal” from the corporate sector to help scale the removals market and strengthen emerging companies and technologies.

“​​BC3 members have the critical opportunity to launch the carbon removal industry with early investments that will bring down the cost for everyone, leading to a prosperous economy that removes more carbon than it emits,” said Peter Minor, Director of Science & Innovation at Carbon180. “Carbon180 looks forward to working with early leaders like BC3 member companies, and building the policy landscape needed to support them.”

“In contributing to this effort, Anthesis is delighted for the opportunity to support newcomers to the carbon removal space to quickly get up to speed so they can focus their time and energy on developing meaningful investment strategies,” said Emma Armstrong, Executive Director, Anthesis North America. “This is well aligned with Anthesis’ mission to help organizations to activate sustainable performance.”

Maura McKnight
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415.350.7652

• Investment will advance development of a novel methane pyrolysis technology platform to produce cleaner and lower cost turquoise hydrogen
• Compared to the traditional steam methane reforming process used for producing industrial scale hydrogen, Ekona’s novel methane pyrolysis process can produce hydrogen with drastically lower carbon dioxide emissions
• Technology applicable for multiple markets including refineries, ammonia or chemical plants, as well as natural gas transmission and distribution companies looking to reduce their GHG emissions footprint

HOUSTON & VANCOUVER, British Columbia--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR), an energy technology company, has announced an investment in Ekona Power Inc., a growth stage company developing novel turquoise hydrogen production technology. Through its investment, Baker Hughes will enhance its broader hydrogen and natural gas decarbonization solutions portfolio, further contributing to the energy transition.

Turquoise hydrogen is made from methane using pyrolysis, also known as splitting, or cracking. Ekona’s methane pyrolysis solution uses combustion and high-speed gas dynamics in a reactor to separate feedstock methane into hydrogen and solid carbon, drastically reducing carbon dioxide emissions versus the traditional and prevalent steam methane reforming process. The innovative solution is designed to easily integrate with standard equipment for natural gas and hydrogen applications including carbon separation and hydrogen purification, thus simplifying industrial process integration.

The two companies will join efforts to accelerate the scale up and industrialization of the technology by identifying suitable pilot projects and leveraging Baker Hughes’ leading turbomachinery portfolio as well as established technical expertise in providing modular and scalable solutions for global hydrogen and natural gas projects.

“This strategic investment further demonstrates our commitment to advancing new energy frontiers by accelerating the pace at which novel technologies are being brought to market,” said Rod Christie, executive vice president of Turbomachinery & Process Solutions at Baker Hughes. “Ekona Power’s methane pyrolysis platform for the production of cleaner and lower cost turquoise hydrogen builds on our growing and diverse portfolio of decarbonization technologies, including blue and green hydrogen, CCUS and emissions management solutions. Through the adoption of this technology, the industry can leverage existing and abundant natural gas reserves to produce lower carbon hydrogen and accelerate its use across the energy value chain.”

“At Ekona, we are deeply committed to delivering cleaner energy solutions that cost-effectively address industry pain points. Our innovative technology has the potential to produce hydrogen at costs on par with conventional steam methane reformers, while drastically reducing greenhouse gas emissions. In addition, our solution isn’t reliant on CO2 sequestration, so it has the potential to be quickly and broadly deployed across various industries and market regions,” Chris Reid, chief executive officer of Ekona Power Inc. “This important investment from Baker Hughes who is an established global player is a key step to commercializing our technology.”

Baker Hughes will take an approximately 20% stake in Ekona to help advance new project development and commercialization. Baker Hughes will also assume a seat on Ekona’s Board of Directors. Fort Capital Partners acted as advisors to Ekona Power. Along with lead investor Baker Hughes, Ekona has been supported by numerous Canadian Federal and Provincial partners, including the BC Innovative Clean Energy (ICE) Fund, National Research Council (NRC), Natural Resources Canada (NRCan) Breakthrough Energy Solutions Canada (BESC) Program, Emissions Reduction Alberta (ERA), the Natural Gas Innovation Fund (NGIF) and Pacific Economic Development Canada. In addition, BDC Capital’s Cleantech Practice invested in 2020 to help fund Ekona’s technology development program.

About Baker Hughes:

Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

About Ekona Power Inc.

Ekona is a Vancouver-based venture established by Evok Innovations and Innovative Breakthrough Energy Technologies. Ekona is developing a revolutionary technology that transforms the way we produce clean hydrogen. Our solution is an innovative and low-cost methane pyrolysis platform that converts natural gas into hydrogen and solid carbon, virtually eliminating greenhouse gas emissions. Visit us at ekonapower.com

For Baker Hughes:
Media Relations
Stephanie Price
+1 281 605 8399
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Investor Relations
Jud Bailey
+1 281-809-9088
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For Ekona Power Inc.:
Anuneet Makan
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+ 1 604-339-6671

Bitmain Announces High Efficiency, Carbon Credit Initiative ANTMINER S19 XP as Bitcoin Reaches All Time High

DENVER--(BUSINESS WIRE)--Crusoe Energy Systems Inc. (Crusoe), a Denver-based energy technology company focused on powering computation with stranded energy resources, is proud to receive allocations of the new ANTMINER S19 XP that has a hashrate of 140 TH, which improves the power efficiency by 27% compared to the previous model from premier ASIC manufacturer Bitmain Technologies (Bitmain). This selected batch of the newest release of Bitcoin mining hardware was designed to achieve market leading environmental performance through best in class energy efficiency as well as a carbon offset program to neutralize emissions from the manufacturing process and the first year of operation. When combined with Crusoe’s computing operations powered by otherwise wasted and stranded energy resources like flaring natural gas, Bitmain and Crusoe aim to jointly deliver the world’s most climate-optimized Bitcoin infrastructure and operations.

Bitmain has made initial allocations of the ANTMINER S19 XP 140TH available to a limited number of preferred customers selected on the basis of commitment to environmental operating practices. Crusoe is proud to be among the first customers to access Bitmain’s cutting edge hardware on this basis. Crusoe’s selection for the first production allocations of the ANTMINER S19 XP 140TH, Bitmain’s most powerful ASIC to date, was announced at the World Digital Mining Summit held in Dubai today when Bitmain publicly announced the new model ANTMINER S19 XP 140TH. Bitmain announced that it had purchased carbon credits to offset emissions incurred during production and the first year of operation of these selected units. The resulting hardware is the first carbon credit initiative miners available from the manufacturer. Initial production will have limited availability and is being offered only to five of Bitmain’s longstanding and strategic partners.

Crusoe CEO and Co-Founder, Chase Lochmiller, said, “It is exciting to see the industry rapidly evolving towards environmentally-oriented ways of thinking and operating. Bitcoin mining has historically been conflated with carbon emissions. We believe mining can be leveraged as a tool to help reduce emissions and also accelerate the energy transition, providing critical infrastructure for both the bitcoin network and the future of energy infrastructure. It's great to have partners like Bitmain that have passion for our long term mission to align the future of computing infrastructure with the future of the climate.”

Crusoe mines cryptocurrency in custom engineered modular, mobile data centers. The data centers are deployed directly to energy sources that are otherwise wasted, such as flaring natural gas. The company’s patented Digital Flare Mitigation® technology provides an emission reduction solution by utilizing otherwise wasted flare gas, one of the largest sources of emission from oil production, to power mining operations onsite. In this process, Crusoe is able to significantly reduce uncombusted methane emissions and achieve an estimated 63% reduction in CO2-equivalent emissions compared to continued flaring. Crusoe has prevented more than 1 billion cubic feet of gas flaring and has reduced emissions equivalent to hundreds of thousands of cars.

Irene Gao, Bitmain BD Director of NCSA Region said, “After many years of strategic and long standing partnership, Bitmain is proud to deliver Crusoe early access to the ANTMINER S19 XP, our most energy efficient, powerful and carbon mitigated systems ever. Bitmain is committed to innovation in all regards ranging from design to manufacturing and production. As part of our commitment to positive environmental change, Bitmain is constantly looking for ways to improve our product and the industry as a whole and recognizes the value in offsetting emissions in all areas of mining. Crusoe is a leader in this regard, and we are pleased to partner with them going forward.”

Bitmain is the world leader in ASIC manufacturing for the cryptocurrency industry. Bitmain exhibited their newest generation mining hardware at the World Digital Mining Summit hosted at the Atlantis hotel in Dubai.

About Crusoe Energy Systems Inc.

Crusoe Energy is on a mission to unlock value in stranded energy resources through the power of computation. The company aims to align the long term interests of the climate with the future of global computing infrastructure. As data centers consume an exponentially growing power footprint to deliver technology to all connected devices, we are inspired by making sure that the energy meeting that demand is sourced in an environmentally responsible fashion. Crusoe colocates mobile data centers with stranded energy resources, like flare gas and underloaded renewables, to deliver low-cost, carbon-negative distributed computing solutions. Island Cloud is a managed cloud services platform powered by Crusoe that enables climate-friendly innovation in computationally intensive fields including artificial intelligence, graphics rendering and computational biology.

Bitmain Technologies Limited

Founded in 2013, Bitmain transforms computing by building industry-defining technology in cryptocurrency and blockchain. Bitmain leads the industry in the production of integrated circuits for cryptocurrency mining, as well as mining hardware under the ANTMINER brand. Bitmain technology supports a wide range of blockchain platforms and startups.

More Information:

Please reach out to This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.crusoeenergy.com to learn more, and follow Crusoe on Linkedin and Twitter.

Cully Cavness
720-795-6484
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Kaizen Clean Energy Secures Investment To Fund the Manufacturing of Hydrogen Generators To Displace Aging & Unreliable Solutions For EV Charging, Hydrogen Distribution, & Microgrids

HOUSTON--(BUSINESS WIRE)--#cleanenergy--Kaizen Clean Energy (“KCE”), announced today it has secured funding to accelerate commercial deployment of its hydrogen generators for distributed Battery Electric Vehicle (EV) charging, hydrogen Fuel Cell Electric Vehicles (FCEVs) fueling and standby power generation in the United States.

The funding positions KCE to deliver hydrogen generators to its customers in the second half of 2022.

Eric Smith, Co-CEO & Chief Commercial Officer said, “Last week’s passing of the US Infrastructure Bill underscores the bipartisan need for a solution that provides clean, reliable, and affordable distributed energy. KCE’s Hydrogen Generators help our clients accelerate their Zero Emission Vehicle deployments without having to rely on aging electric grids and traditional hydrogen solutions that lack reliable supply, don’t scale, and require capital-intensive infrastructure. Our funding allows clients the ability to secure leases of KCE’s Hydrogen Generators to show the versatility and economic benefits of this proven technology.”

KCE’s Hydrogen Generator reforms methanol to deliver on-demand ISO Grade hydrogen at the point of use, eliminating the high cost of transporting and storing compressed or cryogenic hydrogen. Clients can leverage our hydrogen generators and existing methanol bunkering across the U.S. to lower their delivered cost of hydrogen and utilize growing renewable methanol production to scale their Carbon Intensity to meet their requirements.

Stanfield and Dupre, Kaizen Clean Energy’s General Counsel, supported the financial transaction.

About Kaizen Clean Energy:

Founded in 2021, KCE is a future fuels-focused company, headquartered in Houston, TX, specializing in the design, development, and manufacture of hydrogen generators for distributed power generation and hydrogen production.

For more information about Kaizen Clean Energy, please visit www.kaizencleanenergy.com.

Eric Smith
Co-CEO
Kaizen Clean Energy
Phone: +1.346.337.7788
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TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE:NGL) (“NGL,” “our,” “we,” or the “Partnership”) today reported its second quarter Fiscal 2022 results. Highlights for the quarter include:

• Loss from continuing operations for the second quarter of Fiscal 2022 of $1.2 million, compared to income from continuing operations of $6.0 million for the second quarter of Fiscal 2021. Excluding losses on the disposal or impairment of assets, income from continuing operations for the second quarter of Fiscal 2022 was $12.5 million, compared to $11.9 million for the second quarter of Fiscal 2021
• Adjusted EBITDA¹ from continuing operations for the second quarter of Fiscal 2022 of $146.3 million, compared to $138.0 million for the second quarter of Fiscal 2021
• Record quarterly Adjusted EBITDA of $87.4 million in the Water Solutions segment, a 43% increase versus the second quarter of Fiscal 2021
• Produced water volumes processed increased approximately 37% versus the same period in the prior year, with volumes growing approximately 94,000 barrels per day, or 5.6%, versus the preceding quarter
• Fiscal 2022 Adjusted EBITDA guidance of $570 million - $600 million and expected full year capital expenditures of approximately $115 million²

“Our Water Solutions segment achieved strong growth due to increased customer activities in the Delaware basin. Produced water volumes have grown meaningfully year-over-year and sequentially quarter-over-quarter. We expect water volumes to continue to grow for the foreseeable future. Operational free cash flow, reduction in working capital requirements and asset sale proceeds will be deployed to the balance sheet to reduce leverage,” stated Mike Krimbill, NGL’s CEO. “Our top priority is to reduce absolute debt and drive leverage below 4.75 times,” Krimbill concluded.

Quarterly Results of Operations

The following table summarizes operating income (loss) and Adjusted EBITDA from continuing operations by reportable segment for the periods indicated:

Water Solutions

The Partnership processed approximately 1.8 million barrels of water per day during the quarter ended September 30, 2021, a 37.3% increase when compared to approximately 1.3 million barrels of water per day processed during the quarter ended September 30, 2020, due to higher production volumes primarily in the Delaware Basin driven by the recovery in crude oil prices from the prior year.

Revenues from recovered crude oil, including the impact from realized skim oil hedges, totaled $19.3 million for the quarter ended September 30, 2021, an increase of $6.8 million from the prior year period. This was due to higher crude oil prices, larger amounts of skim oil recovered per barrel of water processed and increasing producer activity.

Operating expenses in the Water Solutions segment decreased to $0.26 per barrel compared to $0.27 per barrel in the comparative quarter last year primarily due to continued efforts to reduce operating costs per barrel along with higher produced water volumes processed.

Crude Oil Logistics

Operating income for the second quarter of Fiscal 2022 decreased compared to the second quarter of Fiscal 2021 primarily due to lower revenues related to the Grand Mesa Pipeline, which was primarily the result of the court-approved rejection of the Extraction transportation agreement (as part of its bankruptcy) as well as decreased production in the DJ Basin. During the three months ended September 30, 2021, financial volumes on the Grand Mesa Pipeline averaged approximately 80,000 barrels per day, compared to approximately 123,000 barrels per day for the three months ended September 30, 2020. For the quarter, our margins, excluding the impact of derivatives, benefited from higher crude oil prices which increased contracted rates with some producers.

Liquids Logistics

Operating income for the Liquids Logistics segment totaled $11.5 million, including a loss on the sale of a facility of $11.7 million, for the quarter ended September 30, 2021. Excluding the loss on the sale of the facility, operating income increased by $8.9 million compared to the quarter ended September 30, 2020, due to higher product margins, including the impact of derivatives.

Propane volumes decreased by approximately 72.4 million gallons, or 28.6%, compared to the quarter ended September 30, 2020, due to backwardation in the propane market and deferred purchases from customers. Butane volumes decreased by approximately 18.5 million gallons, or 12.9%, compared to the quarter ended September 30, 2020, due to the tight supply market as a result of decreased refinery runs and an increase in demand for exports.

Corporate and Other

Corporate and Other expenses decreased from the comparable prior year period primarily due to lower legal expenses.

Capitalization and Liquidity

Total liquidity (cash plus available capacity on our asset-based revolving credit facility) was approximately $207 million as of September 30, 2021. Borrowings on the Partnership’s revolving credit facility totaled approximately $146.0 million. The balance increase from March 31, 2021 was primarily due to increases in working capital balances driven by increased inventory volumes and higher commodity prices.

The Partnership is in compliance with all of its debt covenants and has no significant debt maturities before November 2023. The Partnership expects to generate operational free cash flow in Fiscal Year 2022, which will be utilized to repay outstanding indebtedness and improve leverage.

Second Quarter Conference Call Information

A conference call to discuss NGL’s results of operations is scheduled for 4:00 pm Central Time on Tuesday, November 9, 2021. Analysts, investors, and other interested parties may join the webcast via the event link: https://www.webcaster4.com/Webcast/Page/2808/43431 or by dialing (888) 506-0062 and providing access code: 646174. An archived audio replay of the call will be available for 14 days, which can be accessed by dialing (877) 481-4010 and providing replay passcode 43431.

Non-GAAP Financial Measures

NGL defines EBITDA as net income (loss) attributable to NGL Energy Partners LP, plus interest expense, income tax expense (benefit), and depreciation and amortization expense. NGL defines Adjusted EBITDA as EBITDA excluding net unrealized gains and losses on derivatives, lower of cost or net realizable value adjustments, gains and losses on disposal or impairment of assets, gains and losses on early extinguishment of liabilities, equity-based compensation expense, acquisition expense, revaluation of liabilities, certain legal settlements and other. NGL also includes in Adjusted EBITDA certain inventory valuation adjustments related to TransMontaigne Product Services, LLC (“TPSL”), our refined products business in the mid-continent region of the United States (“Mid-Con”) and our gas blending business in the southeastern and eastern regions of the United States (“Gas Blending”), which are included in discontinued operations, and certain refined products businesses within NGL’s Liquids Logistics segment, as discussed below. EBITDA and Adjusted EBITDA should not be considered as alternatives to net (loss) income, (loss) income from continuing operations before income taxes, cash flows from operating activities, or any other measure of financial performance calculated in accordance with GAAP, as those items are used to measure operating performance, liquidity or the ability to service debt obligations. NGL believes that EBITDA provides additional information to investors for evaluating NGL’s ability to make quarterly distributions to NGL’s unitholders and is presented solely as a supplemental measure. NGL believes that Adjusted EBITDA provides additional information to investors for evaluating NGL’s financial performance without regard to NGL’s financing methods, capital structure and historical cost basis. Further, EBITDA and Adjusted EBITDA, as NGL defines them, may not be comparable to EBITDA, Adjusted EBITDA, or similarly titled measures used by other entities.

Other than for certain businesses within NGL’s Liquids Logistics segment, for purposes of the Adjusted EBITDA calculation, NGL makes a distinction between realized and unrealized gains and losses on derivatives. During the period when a derivative contract is open, NGL records changes in the fair value of the derivative as an unrealized gain or loss. When a derivative contract matures or is settled, NGL reverses the previously recorded unrealized gain or loss and records a realized gain or loss. NGL does not draw such a distinction between realized and unrealized gains and losses on derivatives of certain businesses within NGL’s Liquids Logistics segment. The primary hedging strategy of these businesses is to hedge against the risk of declines in the value of inventory over the course of the contract cycle, and many of the hedges cover extended periods of time. The “inventory valuation adjustment” row in the reconciliation table reflects the difference between the market value of the inventory of these businesses at the balance sheet date and its cost, adjusted for the impact of seasonal market movements related to our base inventory and the related hedge. NGL includes this in Adjusted EBITDA because the unrealized gains and losses associated with derivative contracts associated with the inventory of this segment, which are intended primarily to hedge inventory holding risk and are included in net income, also affect Adjusted EBITDA. In NGL’s Crude Oil Logistics segment, they purchase certain crude oil barrels using the West Texas Intermediate (“WTI”) calendar month average (“CMA”) price and sell the crude oil barrels using the WTI CMA price plus the Argus CMA Differential Roll Component (“CMA Differential Roll”) per NGL’s contracts. To eliminate the volatility of the CMA Differential Roll, NGL entered into derivative instrument positions in January 2021 to secure a margin of approximately $0.20 per barrel on 1.5 million barrels per month from May 2021 through December 2023. Due to the nature of these positions, the cash flow and earnings recognized on a GAAP basis will differ from period to period depending on the current crude oil price and future estimated crude oil price which are valued utilizing third-party market quoted prices. NGL is recognizing in Adjusted EBITDA the gains and losses from the derivative instrument positions entered into in January 2021 to properly align with the physical margin NGL is hedging each month through the term of this transaction. This representation aligns with management’s evaluation of the transaction.

Distributable Cash Flow is defined as Adjusted EBITDA minus maintenance capital expenditures, income tax expense, cash interest expense, preferred unit distributions and other. Maintenance capital expenditures represent capital expenditures necessary to maintain the Partnership’s operating capacity. For the CMA Differential Roll transaction, as discussed above, we have included an adjustment to Distributable Cash Flow to reflect, in the period for which they relate, the actual cash flows for the positions that settled that are not being recognized in Adjusted EBITDA. Distributable Cash Flow is a performance metric used by senior management to compare cash flows generated by the Partnership (excluding growth capital expenditures and prior to the establishment of any retained cash reserves by the Board of Directors) to the cash distributions expected to be paid to unitholders. Using this metric, management can quickly compute the coverage ratio of estimated cash flows to planned cash distributions. This financial measure also is important to investors as an indicator of whether the Partnership is generating cash flow at a level that can sustain, or support an increase in, quarterly distribution rates. Actual distribution amounts are set by the Board of Directors.

Forward-Looking Statements

This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. While NGL believes such forward-looking statements are reasonable, NGL cannot assure they will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings with the Securities and Exchange Commission. Other factors that could impact any forward-looking statements are those risks described in NGL’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other public filings. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” NGL undertakes no obligation to publicly update or revise any forward-looking statements except as required by law.

NGL provides Adjusted EBITDA guidance that does not include certain charges and costs, which in future periods are generally expected to be similar to the kinds of charges and costs excluded from Adjusted EBITDA in prior periods, such as income taxes, interest and other non-operating items, depreciation and amortization, net unrealized gains and losses on derivatives, lower of cost or net realizable value adjustments, gains and losses on disposal or impairment of assets, gains and losses on early extinguishment of liabilities, equity-based compensation expense, acquisition expense, revaluation of liabilities and items that are unusual in nature or infrequently occurring. The exclusion of these charges and costs in future periods will have a significant impact on the Partnership’s Adjusted EBITDA, and the Partnership is not able to provide a reconciliation of its Adjusted EBITDA guidance to net income (loss) without unreasonable efforts due to the uncertainty and variability of the nature and amount of these future charges and costs and the Partnership believes that such reconciliation, if possible, would imply a degree of precision that would be potentially confusing or misleading to investors.

About NGL Energy Partners LP

NGL Energy Partners LP, a Delaware limited partnership, is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process.

For further information, visit the Partnership’s website at www.nglenergypartners.com.

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