HOUSTON--(BUSINESS WIRE)--NOV Inc. (NYSE: NOV) announced today that Robert Welborn has been appointed to the Company’s Board of Directors, effective October 20, 2021.

Mr. Welborn is the Head of Programs Data Science, Small Business Group for Facebook, Inc. where he oversees the development of solutions used by over 140 million businesses around the world. Prior to joining Facebook, he held various positions within General Motors, including Global Chief Data and Analytics Officer and served in several positions of increasing responsibility at USAA, including Chief Data Scientist. Mr. Welborn holds a Bachelor of Science in Engineering from Texas A&M University and a Master of Business Administration from the University of California, San Diego.

“Robert is an accomplished technology executive and a leading innovator in the fields of data sciences and digital technologies,” said Clay Williams, Chairman, President, and Chief Executive Officer. “We are excited to welcome Robert to our Board and are confident that his extensive expertise will provide us with invaluable perspectives as we continue to pioneer leading-edge technology solutions for the global energy industry.”

With the appointment of Mr. Welborn, NOV’s board of directors is now composed of ten directors, nine of which are independent members.

About NOV
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.

Visit www.nov.com for more information.

Blake McCarthy
Vice President, Corporate Development and Investor Relations
(713) 815-3535
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All amounts expressed are in U.S. dollars, denominated by “$”.

• V₂O₅ production of 3,260 tonnes (7.2 million pounds¹) in Q3 2021, a 5% increase over Q3 2020 and 6% above Q2 2021
• Total V₂O₅ equivalent sales of 2,685 tonnes in Q3 2021, a 16% increase over Q3 2020 and 11% below Q2 2021 due to logistical challenges
• Largo Clean Energy (“LCE”) selected to receive $4.2 million in funding from the Department of Energy (“DOE”) to scale up U.S.-based manufacturing of flow battery and long duration storage systems; Receipt of funding is subject to the completion of the award negotiation with the DOE
• On July 30, 2021, LCE received a notice to proceed (“NTP”) on its previously announced sales contract with Enel Green Power España (“Enel”) for the delivery of a 5 hour 6.1 MWh VCHARGE± system located in Spain
• Revised 2021 production and sales guidance: Production guidance lowered to 11,400 to 11,800 tonnes of V₂O₅ equivalent from 12,000 to 12,500 tonnes; Sales guidance lowered to 11,200 to 11,800 tonnes of V₂O₅ equivalent from 12,250 to 12,750 tonnes
• Demand in all of the Company’s key vanadium markets remained strong in Q3 2021: Average Fastmarkets European V₂O₅ price of approximately $9.40 per lb in Q3 2021, a 76% increase over the average in Q3 2020

TORONTO--(BUSINESS WIRE)--$LGO #VRFB--Largo Resources Ltd. ("Largo" or the "Company") (TSX:LGO) (NASDAQ:LGO) announces quarterly production of 3,260 tonnes (7.1 million lbs¹) of vanadium pentoxide (“V₂O₅”) and sales of 2,685 tonnes of V₂O₅ equivalent from its Maracás Menchen Mine in Q3 2021.

Paulo Misk, President and Chief Executive Officer of Largo, stated: “The Company remains well positioned to continue making headway on the suite of value-add projects in our pipeline. This quarter we received a NTP on our first battery sales contract with Enel and are progressing on schedule with the build out of LCE’s product development and stack manufacturing facility in Massachusetts with an expected annual capacity of 1.4 GWh. We look forward to a strong finish to the year and remain fully committed to driving the world’s transition to a low-carbon future through innovative energy storage solutions powered by our responsibly produced vanadium.” He continued: “On the operational front, our performance improved in Q3 2021 as highlighted by a 5% increase in production over Q3 2020 and a 6% increase over Q2 2021. The strong production performance during the quarter was largely driven by increased throughput and improved recoveries following the completion of the Company’s expansion project in Q2 2021. Despite improved production results and steady vanadium demand in all regions, the Company experienced logistical challenges which resulted in lower sales for the quarter.”

A summary of the Company’s Q3 2021 production and sales results is presented below:

Corporate Highlights

• DOE Selects LCE for Energy Storage Development Funding: On September 23, 2021, the United States DOE announced funding for research and development projects to scale up American manufacturing of flow battery and long duration storage systems. LCE is expected to receive $4.2 million of this funding to develop and demonstrate highly efficient manufacturing processes for affordable, grid-scale flow batteries. The receipt of funds is subject to the completion of the award negotiation of with the DOE and the negotiation is scheduled to be completed within 60 days of the date of announcement. The DOE’s funding will help provide the materials needed to expand the grid with new, clean energy sources, deliver affordable electricity to disadvantaged communities, and help reach the Biden Administration’s goal of net-zero carbon emissions by 2050.
• Manufacturing Strategy and VCHARGE± Certification Progressing on Schedule: The buildout of LCE’s product development and stack manufacturing facility in Massachusetts is proceeding on schedule with substantial completion expected in Q1 2022. The Underwriters Laboratories (“UL”) certification of the VCHARGE± system is on schedule for completion in Q4 2021 and LCE expects to proceed and obtain Conformité Européenne (“CE”) certification by Q2 2022. CE certification is the European parallel to UL certification.
• Strong Vanadium Production from Maracás: Production from the Maracás Menchen Mine was 3,260 tonnes of V₂O₅ in Q3 2021, representing a 5% increase over Q3 2020 and the second-best quarter of production since commencement of operations. V₂O₅ production was 1,068 tonnes in July, with 1,101 tonnes being produced in August and 1,091 tonnes in September. Increased quarter-over-quarter production was largely due to higher throughput and increased global recoveries³ following the completion of the Company’s expansion project in Q2 2021. The Company achieved an excellent global recovery³ of 83.7% in Q3 2021, being 1% lower than Q3 2020 but 5% higher than the 79.9% achieved in Q2 2021. The Company also produced 113,879 tonnes of concentrate ore with an average V₂O₅ grade of 3.32% in Q3 2021 compared to 104,921 tonnes in Q3 2020 with an average V₂O₅ grade of 3.32%.
• Lower Vanadium Sales Driven by Logistical Delays: The Company continues to actively manage its operations to provide premium products and service to its customers. Increased delays and global logistical challenges have impacted all aspects of the Company’s supply chain resulting in lower V₂O₅ equivalent sales of 2,685 tonnes in Q3 2021. Diligent planning and a comprehensive sales strategy have allowed the Company to deliver on all its commercial commitments up to this point. The Company does not expect the global logistics situation to improve until mid-2022 following increased port equipment availability, at which point the Company expects to reduce its in-transit inventory.
• Vanadium Market Demand Remains Steady: Demand in all of the Company’s key markets remained strong in Q3 2021 highlighted by a quarterly increase of 76% in the European FMB V₂O₅ price. However, lower activity in the steel related spot market and a general worsening of sentiment in the steel industrial complex following the significant drop in the iron ore price has recently led to some negative pressure on global vanadium prices. Aerospace industry demand continues to recover slowly but remains significantly below pre-COVID demand levels. The Company expects a gradual recovery in vanadium demand from this market over the next two to four years. Largo maintains a strong focus on developing new markets for its high purity vanadium products supported by the addition of vanadium trioxide (“V₂O₃”) to its product range. The Company continues with the commissioning of its V₂O₃ plant and expects to conclude this work in Q4 2021.

Revised 2021 Production and Sales Guidance

The Company’s full-year V₂O₅ equivalent production and sales guidance has been lowered to the range of 11,400 and 11,800 tonnes and 11,200 and 11,800 tonnes, respectively. These adjustments have been made to reflect the Company’s operational performance to date and account for the global logistical challenges expected for the remainder of the year. The Company expects to exit the year with a solid quarter of production and sales results in Q4 2021.

About Largo Resources

Largo is a Canadian domiciled company that has historically been solely committed to the production and supply of high-quality vanadium products. The Company believes that the development and sale of vanadium-based electrical energy storage systems to support the planet's on-going transition to renewable energy presents both an attractive economic opportunity for the use of the Company's vanadium products and an opportunity to enhance the Company's sustainability. Consequently, the Company is in the process of vertically integrating its highly efficient vanadium production operations with its vanadium-based energy storage technology to create a unique competitive advantage in the rapidly growing long duration energy storage market. The Company is confident that using its VPURE™ and VPURE+™ products, which are sourced from one of the world's highest-grade vanadium deposits at the Company's Maracás Menchen Mine in Brazil, in its VCHARGE± vanadium redox flow battery technology results in a competitive and practical long duration energy storage product.

For more information on Largo please visit www.largoresources.com.

Forward-looking Information:

This press release contains forward-looking information under Canadian securities legislation, some of which may be considered "financial outlook" for the purposes of applicable Canadian securities legislation ("forward-looking statements"). Forward-looking information in this press release includes, but is not limited to, statements with respect to the timing and amount of estimated future production and sales; costs of future activities and operations; the extent of capital and operating expenditures; the impact of global delays and related price increases on the Company’s global supply chain and future V2O5 equivalent sales; the timing of the conclusion of the commissioning of the V2O3 plant; the increasing demand for vanadium in the aerospace industry in coming years, the ability to successfully conclude award negotiations with the DOE; the timing of completion of the product development and stack manufacturing facility in Massachusetts and the completion of the UL and CE certifications. Forward-looking information in this press release also includes, but is not limited to, statements with respect to our ability to build, finance and operate a VRFB business, our ability to protect and develop our technology, our ability to maintain our IP, our ability to market and sell our VCHARGE± battery system on specification and at a competitive price, our ability to secure the required production resources to build our VCHARGE± battery system, and the adoption of VRFB technology generally in the market. Forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Largo or Largo Clean Energy to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on www.sedar.com and www.sec.gov from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo's annual and interim MD&As which also apply.

Trademarks are owned by Largo Resources Ltd.

__________________
¹ Conversion of tonnes to pounds, 1 tonne = 2,204.62 pounds or lbs.
² Effective grade represents the percentage of magnetic material mined multiplied by the percentage of V2O5 in the magnetic concentrate.
³Global recovery is the product of crushing recovery, milling recovery, kiln recovery, leaching recovery and chemical plant recovery.

Investor Relations:
Alex Guthrie
Senior Manager, External Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 416-861-9797

• Subsea inbound orders of $1.1 billion in the quarter, $3.9 billion for first nine months
• Cash flow from operations of $135.9 million; free cash flow of $88.6 million
• Cash and cash equivalents increased to $1.0 billion; net debt reduced by $401 million

NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC plc (NYSE: FTI) (Paris: FTI) today reported third quarter 2021 results.

Summary Financial Results from Continuing Operations
Reconciliation of U.S. GAAP to non-GAAP financial measures are provided in financial schedules.

Total Company revenue in the third quarter was $1,579.4 million. Loss from continuing operations attributable to TechnipFMC was $40.6 million, or $0.09 per diluted share. These results included after-tax charges and (credits) totaling $15.6 million of expense, or $0.03 per share, which included the following (Exhibit 6):

• Impairment and other charges of $38 million;
• Restructuring and other charges of $6.1 million; and
• Income from equity investment in Technip Energies of ($28.5) million.

Adjusted loss from continuing operations was $25 million, or $0.06 per diluted share (Exhibit 6). Included in adjusted loss from continuing operations was a loss on early extinguishment of debt of $16 million.

Adjusted EBITDA, which excludes pre-tax charges and credits, was $140.6 million; adjusted EBITDA margin was 8.9 percent (Exhibit 8). Included in adjusted EBITDA was a foreign exchange loss of $6.2 million.

Doug Pferdehirt, Chairman and CEO of TechnipFMC, stated, “Third quarter results reflect continued strength in operational performance and further support our confidence in achieving full-year financial guidance. We also made progress on our commitments to strengthen our balance sheet and exit our ownership in Technip Energies. With the completion of our most recent sale, we have now sold just over 75% of our original stake in Technip Energies, a portion of which was used to reduce our outstanding debt by $185 million in the quarter.”

Pferdehirt added, “In Subsea, inbound orders were $1.1 billion, bringing the year-to-date segment total to $3.9 billion. The strength of our inbound was driven by direct awards, subsea services, alliance partners and several long-term vessel charters. We continue to forecast order growth through 2022, which is supported by the fourth consecutive quarter of increased project value in our Subsea Opportunity list.”

“In Surface Technologies, inbound orders were $250 million for the quarter. We expect a significant increase in international order activity in the fourth quarter, driven by several multi-year awards.”

Pferdehirt continued, “Subsea inbound growth throughout 2021 partly reflects the momentum we are seeing in Brazil – an important region for TechnipFMC where we have been present for over five decades. During the quarter, we signed three long-term vessel charter contracts with Petrobras. These awards are a leading indicator of the strong demand for flexible pipe in the Brazilian market, where we believe volumes will exceed 700 kilometers per annum over the next three years.”

“In 2018, we created a strategic alliance and made a minority investment in Magma Global, a leader in advanced composite technologies. With the ongoing success of this technology alliance, we were pleased to announce we acquired the remaining 75% interest in Magma Global earlier this month. By combining their proprietary technologies with our flexible pipe, we are advancing the development and qualification of a hybrid flexible pipe solution for use in the Brazilian pre-salt fields.”

Pferdehirt added, “We were also pleased to announce a long-term strategic alliance with Talos Energy to develop and deliver solutions for carbon capture and storage, or CCS. The alliance is an important step for both companies, combining Talos’s offshore operational strength and sub-surface expertise with our long history in subsea engineering, system integration and automation and control. Additionally, we believe that composite technologies from Magma will be a critical enabler to the carbon transportation system. Cultivated through a shared vision to responsibly deliver CCS solutions that will help to reduce the global carbon footprint, this innovative partnership will accelerate offshore CCS adoption with reliable, specialized systems. This type of collaboration, innovation and integration will position TechnipFMC to be a leading provider in carbon transportation and storage.”

Pferdehirt concluded, “Our results reflect a continuation of the strong operational performance that we demonstrated over the first half of the year. Subsea orders have nearly matched the $4 billion inbound in all of 2020, and we remain on track to achieve solid double-digit growth. The acquisition of Magma and our strategic alliance with Talos Energy serve as tangible progress and further demonstrate the impactful role we will play in the energy transition.”

Operational and Financial Highlights

Subsea

Financial Highlights

Reconciliation of U.S. GAAP to non-GAAP financial measures are provided in financial schedules.

Subsea reported third quarter revenue of $1,312.1 million, a decrease of 5.9 percent from the second quarter. Revenue decreased sequentially driven by lower activity in the North Sea and Asia.

Subsea reported an operating profit of $23.5 million. Sequentially, operating results decreased due to higher impairment and other charges and lower revenue. During the quarter, the Company recorded a $36.7 million non-cash impairment to its previous investment in Magma Global, reflecting the purchase price paid for the remaining stake subsequent to the quarter.

Subsea reported adjusted EBITDA of $146.5 million. Adjusted EBITDA decreased 4.9 percent when compared to the second quarter, due to lower revenue. Adjusted EBITDA margin increased 10 basis points to 11.2 percent.

Subsea inbound orders were $1,116 million for the quarter. Book-to-bill in the period was 0.9.

The following awards were included in the period:

• TechnipFMC and DOF Subsea awarded long-term charter contracts by Petrobras (Brazil)
  TechnipFMC and its joint venture partner DOF Subsea awarded significant* long-term charter and services contracts by Petrobras for the pipelay support vessels Skandi Vitória and Skandi Niteroi. The Brazilian-built and flagged vessels are owned by DOFCON Navegação Ltda, a 50/50 JV between TechnipFMC and DOF Subsea. Each contract is for three years, with an option to extend. Operations are expected to begin by February 2022.
  *A “significant” contract ranges between $75 million and $250 million.

• TechnipFMC awarded long-term contract by Petrobras (Brazil)
  Substantial* long-term charter and services contract from Petrobras for the pipelay support vessel Coral do Atlântico. The Brazilian-registered vessel has been secured on a three-year contract, with an option to extend. Operations offshore Brazil are expected to begin in the second quarter of 2022. Coral do Atlântico is an important component of the Company’s leading flexible pipe ecosystem in Brazil and will mainly be deployed in ultra-deepwater of up to 3,000 meters.
  *A “substantial” contract is between $250 million and $500 million.

Partnership and Alliance Highlights

• Acquisition of Remaining Shares of Joint Venture TIOS
  TechnipFMC acquired the remaining 49% of shares in TIOS AS, a joint venture between TechnipFMC and Island Offshore Management AS (Island Offshore) formed in 2018. This will accelerate the development of TechnipFMC’s integrated service model focused on maximizing value to our clients.
  
  TIOS provides fully integrated Riserless Light Well Intervention (RLWI) services, including project management and engineering for well completion and intervention operations, riserless coiled tubing, and plug & abandonment, and has serviced over 740 wells globally since 2005.

• Strategic Investment in Loke Marine Minerals to Enable the Energy Transition
  TechnipFMC is joining forces with Loke Marine Minerals (Loke) to develop enabling technologies for the extraction of seabed minerals, driving energy transition and a sustainable future. Marine minerals have been identified by the World Bank, World Economic Forum, and International Energy Agency as one of the potential solutions to meet the increasing demand for metals used in electric vehicle batteries, clean energy technologies, and consumer electronics.
  
  Together, Loke and TechnipFMC are developing a patent-pending, autonomous subsea production system that aims to have minimal impact on the environment and positions the company well for potential offshore licensing on the Norwegian Continental Shelf (NCS) and internationally.

• Acquisition of Magma Global to Accelerate Development of Breakthrough Composite Pipe Technologies for Conventional Energy and CO₂ Applications
  Subsequent to the third quarter, TechnipFMC completed the acquisition of the outstanding shares of Magma Global (Magma), the leading provider of composite pipe technology to support the Energy Transition.
  
  TechnipFMC originally acquired an interest in Magma in 2018, combining its strong history in flexible pipe technology with Magma’s advanced composite capabilities to develop a disruptive composite pipe solution for the traditional and new energy industries.
  
  Magma’s technology enables the manufacture of Thermoplastic Composite Pipe (TCP) using Polyether Ether Ketone (PEEK) polymer, which is highly resistive to corrosive compounds, such as CO₂. When combined with TechnipFMC’s flexible pipe technology, this forms a Hybrid Flexible Pipe (HFP) that will be deployed in the Brazilian pre-salt fields.
  
  Manufactured by a fully automated robotic system, PEEK TCP will also be a critical enabler for both the carbon and hydrogen transportation and storage markets, and particularly offshore applications.

• Strategic Alliance with Talos Energy to Provide Carbon Capture and Storage
  Subsequent to the third quarter, TechnipFMC and Talos Energy entered into a long-term strategic alliance to develop and deliver technical and commercial solutions to Carbon Capture and Storage (CCS) projects along the United States Gulf Coast. The alliance combines Talos’s offshore operational strength and sub-surface expertise with TechnipFMC’s extended history in subsea engineering, system integration and automation and control.
  
  Cultivated through a shared vision to responsibly deliver CCS solutions that will help to reduce the global carbon footprint, this innovative partnership will accelerate offshore CCS adoption with reliable, specialized systems.
  
  Under the alliance, the companies will collaborate to progress CCS opportunities through the full lifecycle of storage site characterization, front-end engineering and design (FEED), and first injection through life of field operations. This further advances the companies’ leadership in the emerging Gulf Coast CCS market, building on Talos’s recent successful award as the operator of the only major offshore carbon sequestration hub in the United States.

Surface Technologies

Financial Highlights

Reconciliation of U.S. GAAP to non-GAAP financial measures are provided in financial schedules.

Surface Technologies reported third quarter revenue of $267.3 million, a decrease of 2.6 percent from the second quarter. Revenue decreased sequentially primarily due to the timing of large, multi-year international awards, partially offset by increased revenue in North America. The continued growth in North America was driven by higher drilling and completion activity.

Surface Technologies reported operating profit of $12.1 million. Sequentially, operating profit decreased primarily due to lower revenue.

Surface Technologies reported adjusted EBITDA of $28.4 million. Adjusted EBITDA decreased 6 percent when compared to the second quarter, primarily driven by lower revenue. Adjusted EBITDA margin decreased 40 basis points to 10.6 percent.

Inbound orders for the quarter were $249.9 million, a decrease of 6.8 percent sequentially. Book-to-bill was 0.9 in the period. We expect a significant increase in international order activity in the fourth quarter, driven by several multi-year awards.

Backlog ended the period at $341 million. Given the short-cycle nature of the business, orders are generally converted into revenue within twelve months.

Corporate and Other Items (three months ended, September 30, 2021)

Corporate expense was $29.3 million.

Foreign exchange loss was $6.2 million.

Net interest expense was $39.3 million.

The provision for income taxes was $12.3 million.

Total depreciation and amortization was $96.5 million.

Cash provided by operating activities from continuing operations was $135.9 million. Capital expenditures were $47.3 million. Free cash flow from continuing operations was $88.6 million (Exhibit 11).

The Company ended the period with cash and cash equivalents of $1,034 million; net debt was $1,221.8 million. Net debt declined $401.2 million from the second quarter due in part to a tender offer in September from which we purchased $164.1 million of 6.5% senior notes due 2026. Upon completion of the tender offer in October, we purchased an additional $2.8 million of the outstanding notes (Exhibit 10).

Investment in Technip Energies

The Company completed the partial spin-off of Technip Energies on February 16, 2021. Financial results for Technip Energies are reported as discontinued operations. The Company’s investment in Technip Energies is reflected in current assets at market value.

On July 29, 2021, the Company sold 16 million shares from its retained stake in Technip Energies for gross proceeds of $213.1 million.

On September 3, 2021, the Company announced the sale of 17.6 million shares of its retained stake in Technip Energies to HAL Holding, N.V. (HAL) for gross proceeds of approximately $230 million. The HAL sale was completed in two tranches. The first tranche of 8.6 million shares was sold and settled in September for gross proceeds of $114.4 million. The second tranche of 9.0 million shares was sold in September and is expected to settle before the end of October for gross proceeds of approximately $115 million.

As of September 30, 2021, the Company’s ownership stake was 30.9 million shares, or approximately 17.2% of Technip Energies’ issued and outstanding share capital. Following the completion of the sale of the second tranche to HAL, the Company retains a direct stake of 21.9 million shares, representing 12.3% of Technip Energies’ issued and outstanding share capital.

The Company recognized a gain in the third quarter of $28.5 million from its equity ownership in Technip Energies. The gain was primarily related to the change in market value in the period.

Additional items

During the quarter, the Company acquired the remaining 49% interest in TIOS AS, a joint venture between the Company and Island Offshore Management AS, for cash consideration of $48.7 million.

In 2018, we entered into a collaboration agreement with Magma Global Ltd. (“Magma Global”) to develop a new generation of hybrid flexible pipe for use in offshore applications. As part of the collaboration, we purchased a 25% ownership stake in Magma Global. In October 2021, we purchased the remaining 75% ownership stake for $64 million. The cash consideration will be paid to the shareholders of Magma Global in three installments.

2021 Full-Year Financial Guidance¹

The Company’s full-year guidance for 2021 can be found in the table below. No updates were made to the previous guidance that was issued on July 21, 2021.

All segment guidance assumes no further material degradation from COVID-19-related impacts. Guidance is based on continuing operations and thus excludes the impact of Technip Energies, which is reported as discontinued operations.

¹ Our guidance measures adjusted EBITDA margin, corporate expense, net, net interest expense and free cash flow are non-GAAP financial measures. We are unable to provide a reconciliation to comparable GAAP financial measures on a forward-looking basis without unreasonable effort because of the unpredictability of the individual components of the most directly comparable GAAP financial measure and the variability of items excluded from each such measure. Such information may have a significant, and potentially unpredictable, impact on our future financial results.

Analyst Day

The Company will host an Analyst Day on Tuesday, November 16, 2021 in Houston, Texas. The general presentation session will be held from 8:30 a.m. to 12 p.m. Houston time and will be available via webcast (link to be made available prior to event).

Throughout the day, we will share more on how we are leveraging and extending our core competencies of innovation, integration and collaboration to develop both new and novel energy resources offshore.

Following the live webcast, those attending the event in-person will participate in a series of tours showcasing several of the innovative and disruptive technologies that demonstrate how TechnipFMC continues to drive change in the energy industry.

Teleconference

The Company will host a teleconference on Thursday, October 21, 2021 to discuss the third quarter 2021 financial results. The call will begin at 1 p.m. London time (8 a.m. New York time). Webcast access and an accompanying presentation can be found at www.TechnipFMC.com.

An archived audio replay will be available after the event at the same website address. In the event of a disruption of service or technical difficulty during the call, information will be posted on our website.

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries; delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

This communication contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statement usually relate to future events and anticipated revenues, earnings, cash flows, or other aspects of our operations or operating results. Forward-looking statements are often identified by words such as “guidance,” “confident,” “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “will,” “likely,” “predicated,” “estimate,” “outlook” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on our current expectations, beliefs, and assumptions concerning future developments and business conditions and their potential effect on us. While management believes these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. All of our forward-looking statements involve risks and uncertainties (some of which are significant or beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections, including unpredictable trends in the demand for and price of crude oil and natural gas; competition and unanticipated changes relating to competitive factors in our industry, including ongoing industry consolidation; the COVID-19 pandemic and its impact on the demand for our products and services; our inability to develop, implement and protect new technologies and services; the cumulative loss of major contracts, customers or alliances; disruptions in the political, regulatory, economic and social conditions of the countries in which we conduct business; the refusal of DTC and Euroclear to act as depository and clearing agencies for our shares; the United Kingdom’s withdrawal from the European Union; the impact of our existing and future indebtedness and the restrictions on our operations by terms of the agreements governing our existing indebtedness; the risks caused by our acquisition and divestiture activities; the risks caused by fixed-price contracts; any delays and cost overruns of new capital asset construction projects for vessels and manufacturing facilities; our failure to deliver our backlog; our reliance on subcontractors, suppliers and our joint venture partners; a failure or breach of our IT infrastructure or that of our subcontractors, suppliers or joint venture partners, including as a result of cyber-attacks; the risks of pirates endangering our maritime employees and assets; potential liabilities inherent in the industries in which we operate or have operated; our failure to comply with numerous laws and regulations, including those related to environmental protection, health and safety, labor and employment, import/export controls, currency exchange, bribery and corruption, taxation, privacy, data protection and data security; the additional restrictions on dividend payouts or share repurchases as an English public limited company; uninsured claims and litigation against us, including intellectual property litigation; tax laws, treaties and regulations and any unfavorable findings by relevant tax authorities; the uncertainties related to the anticipated benefits or our future liabilities in connection with the spin-off of Technip Energies (the “Spin-off”); any negative changes in Technip Energies’ results of operations, cash flows and financial position, which impact the value of our remaining investment therein; potential departure of our key managers and employees; adverse seasonal and weather conditions and unfavorable currency exchange rate and risk in connection with our defined benefit pension plan commitments and other risks as discussed in Part I, Item 1A, “Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and Part II, Item 1A, “Risk Factors” of our subsequently filed Quarterly Reports on Form 10-Q.

Investor relations
Matt Seinsheimer
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James Davis
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Media relations
Nicola Cameron
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Catie Tuley
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BETHESDA, Md. & CHARLESTON, S.C.--(BUSINESS WIRE)--#Bioenergy--Enviva Partners, LP (NYSE: EVA) (“Enviva”) and GreenGasUSA, an integrated renewable natural gas (RNG) solutions provider, announced today a 10-year RNG offtake agreement to decarbonize natural gas-related emissions in Enviva’s operations. The agreement is expected to eliminate more than 64,000 metric tons of carbon dioxide (CO2) equivalent from the atmosphere every year, which equates to 14,000 passenger cars being removed from the road.

Enviva’s commitment underwrites a stand-alone GreenGasUSA project to install equipment that captures and treats methane currently being released directly into the atmosphere at a food processing facility in rural South Carolina. As part of the agreement, GreenGasUSA will transport the RNG directly to Enviva’s Hamlet plant to be utilized in its industry-leading emissions control equipment in place of fossil natural gas in the third quarter of 2022. The elimination of direct methane emissions at the food processing facility and conversion of these gases into RNG will be one of the first “food waste to RNG projects” conducted in the U.S. Southeast. In fact, the methane captured and emissions eliminated as a result of this offtake agreement are expected to offset approximately 75% of all Enviva’s direct emissions from its manufacturing operations, or Scope 1 emissions, on an annual basis for the duration of the 10-year agreement.

“We are proud to partner with GreenGasUSA to minimize the use of fossil fuels in our Scope 1 emissions and execute on highly effective carbon-neutral strategies,” said Thomas Meth, Co-founder and Executive Vice President of Sales & Marketing at Enviva. “Selecting GreenGasUSA for this project was a natural choice as several of their agricultural partners are in close proximity to our existing operational infrastructure. The environmental benefits they provide to the communities they serve and their potential to grow and expand with us as a service provider underscores our excitement about this new collaboration.”

Studies have shown that methane released into the atmosphere is a highly potent greenhouse gas that is 85 times more impactful than CO2 over a 20-year life cycle. Capturing fugitive methane from wastewater facilities, landfills, agricultural activities, and other sources has been identified by the EPA as a key strategy to reduce greenhouse gases and slow global warming. In addition, RNG projects provide much needed investment and income in rural agricultural communities disconnected from infrastructure.

“Through GreenGasUSA’s innovative work with established local agribusiness industries, South Carolina is leading the way in carbon mitigation through methane capture. This new partnership reinforces a strong commitment to our environment and to rural South Carolina,” added South Carolina Commissioner of Agriculture Hugh Weathers.

“GreenGasUSA is grateful to work with Enviva on projects like this. Methane capture from agricultural sources is one of the most impactful things we can do to combat climate change. We are thankful for the leadership of Commissioner Weathers and our farming community for embracing these efforts,” said Marc Fetten, founder and CEO of GreenGasUSA. “Eliminating greenhouse gas emissions and creating new income streams for farmers continues to be very gratifying work. Industry leadership, such as Enviva’s commitment to carbon neutrality, is an enabling driver for these types of projects. We sincerely appreciate Enviva’s selection of GreenGasUSA as a decarbonization partner.”

Earlier this year, Enviva announced a Net-Zero Commitment that will reduce, eliminate, or offset all of its direct emissions by 2030. As part of this ambitious plan to cut carbon emissions from fossil fuels and improve energy efficiency, Enviva agreed to adopt innovative and improved lower-emission processes through investments in projects that result in real, additional, and third-party verified net-carbon reductions.

To learn more about Enviva’s 2030 net-zero plans and goals, click here. To learn more about GreenGasUSA’s RNG partnerships, click here.

About GreenGasUSA Holdings, LLC:
Formed in 2019 by Marc Fetten, GreenGas provides low- and zero-emitting energy solutions to industrial, commercial and residential users committed to reducing their environmental footprint. This includes supplying compressed natural gas (CNG) as an alternative to higher-cost and higher-emitting fuels such as oil or propane; operation of a virtual pipeline fleet for CNG and RNG across the U.S.; production of RNG from a variety of waste sources; as well as pipeline injection services. GreenGas currently owns a natural gas injection point in Georgetown, South Carolina that serves as a primary renewable energy aggregation hub enabling farmers to participate in the renewable gas industry and providing income to an important sector in the U.S. economy.

About Enviva
Enviva (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source that is produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva sells a significant majority of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, the European Union, and Japan. Enviva owns and operates 10 plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi. In addition, Enviva exports wood pellets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.

To learn more about Enviva please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.

Cautionary Note Concerning Forward-Looking Statements
The information included herein and in any oral statements made in connection herewith 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 present or historical fact included herein, regarding Enviva’s future financial performance, as well as Enviva’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, 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, Enviva disclaims any duty to revise or update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Enviva.

GreenGasUSA Holdings, LLC
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+1-307-201-3516

MEDIA:
Jacob Westfall
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+1-301-657-5560

HOUSTON--(BUSINESS WIRE)--Archaea Energy Inc. (“Archaea” or “the Company”) (NYSE: LFG) announced today that it plans to issue its earnings release with respect to third quarter 2021 financial results on Monday, November 15, 2021 after the market closes. Archaea will host a conference call for investors and analysts at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Tuesday, November 16, 2021 to discuss third quarter results.

A listen-only webcast of the call and accompanying slide presentation will be available on Archaea’s website at www.archaeaenergy.com. After completion of the webcast, a replay will be available for 12 months on Archaea’s website.

About Archaea

Archaea Energy Inc. is one of the largest RNG producers in the U.S., with an industry leading RNG platform and expertise in developing, constructing, and operating RNG facilities to capture waste emissions and convert them into low carbon fuel. Archaea’s innovative, technology-driven approach is backed by significant gas processing expertise, enabling Archaea to deliver RNG projects that are expected to have higher uptime and efficiency, and lower development costs and time to market, than industry averages. Archaea partners with landfill and farm owners to help them transform their long-lived feedstock sources into RNG and convert their facilities into renewable energy centers. Archaea’s differentiated commercial strategy is focused on long-term contracts that provide commercial partners a reliable, non-intermittent, sustainable decarbonizing solution to displace fossil fuels in high-carbon emission processes and industries.

Additional information is available at www.archaeaenergy.com/.

Investors
Megan Light
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346-439-7589

Media
Katarina Matic
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917-853-1105

HOUSTON--(BUSINESS WIRE)--Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), today announced the pricing of its fifth solar loan securitization and its eleventh residential solar securitization.

The securitization consists of $68.4 million in AA- (sf) rated 2.03% notes, $55.9 million in A- (sf) rated 2.33% notes and $31.5 million in BBB- (sf) rated 2.63% notes. The notes carry a weighted average life of 5.15 years through the anticipated repayment date of October 20, 2028 and have a final maturity of October 20, 2048.

The notes are backed by a diverse portfolio of 3,766 solar rooftop systems distributed across more than 21 states and territories. The weighted average customer FICO score of the related customers at the time of origination is 737. The transaction is expected to close by October 26, 2021, subject to customary closing conditions.

Credit Suisse was the sole structuring agent and bookrunner for the securitization, and Popular Securities acted as co-manager.

The notes have not been and will not be registered under the Securities Act of 1933, as amended, or applicable state securities laws, and, unless so registered, such securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation of an offer or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offer of the notes will be made only by means of a private offering circular.

FORWARD-LOOKING STATEMENTS

This press release contains 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. Forward-looking statements generally relate to future events or Sunnova's future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expect," "plan," "anticipate," "going to," "could," "intend," "target," "project," "contemplates," "believe," "estimate," "predict," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Sunnova's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding the expectations in connection with the offering, including the closing thereof, the use of proceeds from the offering and the use of excess cashflows from the collateral, as well as debt service, cash flows, future financing plans, and Sunnova’s ongoing priorities, objectives and strategies. Sunnova's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to forecast our business due to our limited operating history, the effects of the coronavirus pandemic on our business and operations, results of operations and financial position, our competition, fluctuations in the solar and home-building markets, availability of capital, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Sunnova's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020 and our Quarterly Reports on Form 10-Q for the quarters ended March 31 and June 30, 2021. The forward-looking statements in this release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.

ABOUT SUNNOVA

Sunnova Energy International Inc. (NYSE: NOVA) is a leading residential solar and energy storage service provider with customers across the U.S. and its territories. Sunnova’s goal is to be the source of clean, affordable and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted®.

INVESTOR RELATIONS:
Rodney McMahan, Vice President Investor Relations
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281.971.3323

MEDIA CONTACT
Alina Eprimian, Media Relations Manager
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HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. ("Helix") (NYSE: HLX) reported a net loss¹ of $19.0 million, or $(0.13) per diluted share, for the third quarter 2021 compared to a net loss of $13.7 million, or $(0.09) per diluted share, for the second quarter 2021 and net income of $24.5 million, or $0.16 per diluted share, for the third quarter 2020. Helix reported Adjusted EBITDA² of $26.5 million for the third quarter 2021 compared to $24.8 million for the second quarter 2021 and $52.7 million for the third quarter 2020.

For the nine months ended September 30, 2021, Helix reported a net loss of $35.6 million, or $(0.24) per diluted share, compared to net income of $18.0 million, or $0.10 per diluted share, for the nine months ended September 30, 2020. Adjusted EBITDA for the nine months ended September 30, 2021 was $87.5 million compared to $120.0 million for the nine months ended September 30, 2020. The table below summarizes our results of operations:

Owen Kratz, President and Chief Executive Officer of Helix, stated, "Our third quarter operating results held steady, benefitting from the seasonally stronger summer activity in the North Sea and continued renewables site clearance activity. During the quarter, we reduced our debt with the repayment of our Term Loan and executed with our bank group a new long-term revolving credit facility that we expect will provide us working capital liquidity and manageable financial covenants. Also during the quarter, we achieved zero net debt and ended the quarter in a negative net debt position. With our vessels primarily in the spot market with limited visibility, we expect to maintain minimal net financial leverage in the near term as we prepare for increasing activity offshore. The recent strengthening in oil prices is a promising sign, but its impact on our operations has lagged, particularly in the North Sea. As the macro environment and energy sector continue to improve and stabilize, we anticipate seeing benefits mid-2022 and beyond."

Segment Results

Well Intervention

Well Intervention revenues decreased $1.0 million, or 1%, in the third quarter 2021 compared to the previous quarter. The decrease was primarily due to lower utilization in Brazil and lower rates in West Africa during the third quarter 2021, offset in part by higher utilization in the Gulf of Mexico and the North Sea. Our third quarter revenues were negatively impacted by the completion of our long-term contract in Brazil on the Siem Helix 1 in August, which subsequently commenced its regulatory dry dock during the quarter. Overall Well Intervention vessel utilization remained flat at 72% in the second and third quarters 2021. Well Intervention net loss from operations increased to $13.3 million in the third quarter 2021 compared to $6.7 million in the previous quarter. The increased loss was due to lower revenues in Brazil combined with higher variable costs associated with our increased activity in the Gulf of Mexico during the third quarter.

Well Intervention revenues decreased $9.5 million, or 7%, in the third quarter 2021 compared to the third quarter 2020. The decrease in revenues was primarily due to lower rates and vessel utilization in the Gulf of Mexico and Brazil, offset in part by higher utilization in the North Sea and West Africa during the third quarter 2021. Our third quarter 2021 rates and utilization in the Gulf of Mexico and Brazil were negatively impacted by the completion of our long-term contracts on the Q5000 during the second quarter 2021 and the Siem Helix 1 during the third quarter 2021. Our third quarter 2021 utilization in the North Sea and West Africa benefitted from utilization on the Seawell and the Q7000, both of which were stacked during the third quarter 2020. Well Intervention vessel utilization was 72% in the third quarter 2021 compared to 68% in the third quarter 2020. Well Intervention incurred a net loss from operations of $13.3 million in the third quarter 2021 compared to operating income of $18.8 million in the third quarter 2020. The decrease was due to lower segment revenues as well as higher costs associated with our resumed activity in West Africa.

Robotics

Robotics revenues increased $11.0 million, or 35%, in the third quarter 2021 compared to the previous quarter. The seasonally higher revenues were driven by increased vessel days and ROV activity during the third quarter. Vessel days during the third quarter 2021 included 77 spot vessel days performing ROV support work for a telecom project offshore Guyana, and 99 spot vessel days performing seabed clearance work compared to 61 spot vessel days on the seabed clearance work during the second quarter 2021. Chartered vessel utilization increased to 99% in the third quarter 2021, which included 358 total vessel days, compared to 93% in the second quarter 2021, which included 236 total vessel days. ROV, trencher and ROVDrill utilization increased to 43% in the third quarter 2021 from 36% in the previous quarter, and trenching days in the third quarter 2021 increased to 90 days compared to 84 days in the previous quarter. Robotics operating income increased $4.7 million during the third quarter 2021 compared to the previous quarter due to higher revenues, offset in part by higher operating costs associated with increased spot vessel days quarter over quarter.

Robotics revenues decreased $7.2 million, or 14%, in the third quarter 2021 compared to the third quarter 2020. The decrease in revenues year over year was due to fewer vessel days as well as a reduction in trenching activity compared to the third quarter 2020. Vessel days during the third quarter 2021 decreased to 358 compared to 450 during the third quarter 2020, with fewer days working seabed clearance. Vessel days during the third quarter 2021 included 77 spot vessel days performing ROV support work for a telecom project offshore Guyana and 99 spot vessel days performing seabed clearance work , compared to 196 spot vessel days performing seabed clearance work and 95 spot vessel days performing other projects during the third quarter 2020. Chartered vessel utilization increased to 99% during the third quarter 2021 compared to 95% during the third quarter 2020. Total ROV, trencher and ROVDrill utilization was 43% in the third quarter 2021 compared to 37% in the third quarter 2020, with 90 trenching days in the third quarter 2021 compared to 154 days in the third quarter 2020. Robotics income from operations declined $2.0 million in the third quarter 2021 compared to the third quarter 2020 due to lower revenues year over year.

Production Facilities

Production Facilities revenues increased $4.3 million, or 31%, in the third quarter 2021 compared to the previous quarter primarily due to higher oil and gas production and prices during the third quarter 2021. Production Facilities revenues increased $4.4 million, or 31%, in the third quarter 2021 compared to the third quarter 2020 due to higher oil and gas production and prices and higher revenues from the HFRS during the third quarter 2021.

Selling, General and Administrative and Other

Selling, General and Administrative

Selling, general and administrative expenses were $13.3 million, or 7.4% of revenue, in the third quarter 2021 compared to $13.4 million, or 8.3% of revenue, in the previous quarter.

Other Income and Expenses

Other expense, net was $4.0 million in the third quarter 2021 compared to other income, net of $1.0 million in the previous quarter. Other expense, net includes unrealized foreign currency losses related to the British pound, which weakened approximately 3% during the third quarter 2021.

Cash Flows

Operating cash flows were $28.7 million in the third quarter 2021 compared to $52.7 million in the previous quarter and $52.6 million in the third quarter 2020. The decrease in operating cash flows quarter over quarter was primarily due to increases working capital outflows, offset in part by tax refunds of $12.4 million related to the CARES Act received during the third quarter 2021. The decrease in operating cash flows year over year was due to lower earnings, offset in part by working capital inflows, which include the tax refund related to the CARES Act received during the third quarter 2021.

Capital expenditures totaled $0.6 million in the third quarter 2021 compared to $5.4 million in the previous quarter and $1.6 million in the third quarter 2020. Free cash flow was $28.1 million in the third quarter 2021 compared to $47.2 million in the previous quarter and $51.4 million in the third quarter 2020. The decreases in free cash flow quarter over quarter and year over year were due primarily to lower operating cash flows in the third quarter 2021. (Free cash flow is a non-GAAP measure. See reconciliation below.)

Financial Condition and Liquidity

Cash and cash equivalents were $237.5 million at September 30, 2021 and excluded $71.3 million of restricted cash pledged as collateral on a short-term project-related letter of credit. During the third quarter 2021, we terminated our previous credit agreement, which was scheduled to expire December 31, 2021, and entered into an $80.0 million asset-based revolving credit facility (“ABL facility”). Available capacity under our ABL facility was $69.6 million at September 30, 2021. Long-term debt decreased to $304.5 million at September 30, 2021 from $335.7 million at June 30, 2021 following our repayment of the term loan associated with our previous credit agreement. Negative net debt at September 30, 2021 was $4.3 million.

Conference Call Information

Further details are provided in the presentation for Helix’s quarterly teleconference to review its third quarter 2021 results (see the "For the Investor" page of Helix's website, www.HelixESG.com). The teleconference, scheduled for Thursday, October 21, 2021 at 9:00 a.m. Central Time, will be audio webcast live from the "For the Investor" page of Helix’s website. Investors and other interested parties wishing to participate in the teleconference may join by dialing 1-800-785-8944 for participants in the United States and 1-212-231-2910 for international participants. The passcode is "Staffeldt." A replay of the webcast will be available on the "For the Investor" page of Helix's website by selecting the "Audio Archives" link beginning approximately two hours after the completion of the event.

About Helix

Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. For more information about Helix, please visit our website at www.HelixESG.com.

Non-GAAP Financial Measures

Management evaluates performance and financial condition using certain non-GAAP measures, primarily EBITDA, Adjusted EBITDA, net debt, net debt to book capitalization and free cash flow. We define EBITDA as earnings before income taxes, net interest expense, gain or loss on extinguishment of long-term debt, net other income or expense, and depreciation and amortization expense. Non-cash impairment losses on goodwill and other long-lived assets and gains and losses on equity investments are also added back if applicable. To arrive at our measure of Adjusted EBITDA, we exclude the gain or loss on disposition of assets and the general provision (release) for current expected credit losses, if any. In addition, we include realized losses from foreign currency exchange contracts not designated as hedging instruments, which are excluded from EBITDA as a component of net other income or expense. Net debt is calculated as long-term debt including current maturities of long-term debt less cash and cash equivalents and restricted cash. Net debt to book capitalization is calculated by dividing net debt by the sum of net debt and shareholders’ equity. We define free cash flow as cash flows from operating activities less capital expenditures, net of proceeds from sale of assets.

We use EBITDA, Adjusted EBITDA and free cash flow to monitor and facilitate internal evaluation of the performance of our business operations, to facilitate external comparison of our business results to those of others in our industry, to analyze and evaluate financial and strategic planning decisions regarding future investments and acquisitions, to plan and evaluate operating budgets, and in certain cases, to report our results to the holders of our debt as required by our debt covenants. We believe that our measures of EBITDA, Adjusted EBITDA and free cash flow provide useful information to the public regarding our operating performance and ability to service debt and fund capital expenditures and may help our investors understand and compare our results to other companies that have different financing, capital and tax structures. Other companies may calculate their measures of EBITDA, Adjusted EBITDA and free cash flow differently from the way we do, which may limit their usefulness as comparative measures. EBITDA, Adjusted EBITDA and free cash flow should not be considered in isolation or as a substitute for, but instead are supplemental to, income from operations, net income, cash flows from operating activities, or other income or cash flow data prepared in accordance with GAAP. Users of this financial information should consider the types of events and transactions that are excluded from these measures. See reconciliation of the non-GAAP financial information presented in this press release to the most directly comparable financial information presented in accordance with GAAP.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding the ongoing COVID-19 pandemic and oil price volatility and their respective effects and results, our protocols and plans, our current work continuing, the spot market, our spending and cost reduction plans and our ability to manage changes; our strategy; any statements regarding visibility and future utilization; any projections of financial items; any statements regarding future operations expenditures; any statements regarding the plans, strategies and objectives of management for future operations; any statements regarding our ability to enter into, renew and/or perform commercial contracts; any statements concerning developments; any statements regarding future economic conditions or performance; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to the results and effects of the COVID-19 pandemic and actions by governments, customers, suppliers and partners with respect thereto; market conditions; results from acquired properties; demand for our services; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities including regulatory initiatives by the U.S. administration; operating hazards and delays, which include delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; our ultimate ability to realize current backlog; employee management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in our reports filed with the Securities and Exchange Commission ("SEC"), including our most recently filed Annual Report on Form 10-K and in our other filings with the SEC, which are available free of charge on the SEC's website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by the securities laws.

Social Media

From time to time we provide information about Helix on Twitter (@Helix_ESG), LinkedIn (www.linkedin.com/company/helix-energy-solutions-group), Facebook (www.facebook.com/HelixEnergySolutionsGroup) and Instagram (www.instagram.com/helixenergysolutions).

Erik Staffeldt - Executive Vice President and CFO
281-618-0465
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Evolves and Expands Food Beliefs to Include Progressive Climate Goals

ST. LOUIS--(BUSINESS WIRE)--Today, Panera Bread announces its commitment to become climate positive – removing more carbon from the atmosphere than it emits – by 2050. The first national fast casual restaurant company to set a climate positive target, Panera today updated its Food Beliefs to include climate goals, establishing an ambitious vision for its business. With approximately 25 percent of global greenhouse gases created from food production¹, Panera hopes to lead and inspire its industry to address the climate crisis.

“Climate change is one of the greatest humanitarian crises of our time, and we must act now for our planet. We embrace the responsibility to take immediate and relentless action to create positive change and hope that our industry will follow us. We are sharing our vision for a climate positive future to inspire both our industry and our supply chain partners to take urgent, decisive and clear action,” said Niren Chaudhary, CEO, Panera Bread.

Reaching this climate positive goal equates to removing approximately 2.4 million metric tons of carbon dioxide equivalents each year as compared to Panera’s 2019 greenhouse gas baseline. This is equal to the amount of carbon sequestered by 2.96 million acres of forest per year, an area 14 times the size of New York City. Since 2017, Panera has already reduced emissions from its operations by 15% per square foot, meeting its 2022 target one year early.

Given the seriousness of the climate crisis and the effects experienced across the globe already, we believe it is Panera’s responsibility to take immediate action to reduce our impact. Therefore, Panera is pursuing the following 2025 short term targets to reduce its footprint:

• Increasing the percentage of Cool Food Meals to 60% of bakery-cafe entrees.
• Transitioning to 100% circular - reusable, recyclable and compostable - packaging.
• Using green, renewable electricity for at least 50% of Panera Bread owned operations.

It is estimated that between both the climate commitments of G20 countries and those of individual companies worldwide, the rate of decarbonization falls well below what is needed to keep warming to 1.5°C². For Panera, we recognize this not only creates a need for immediate action but also to commit to reach beyond net zero, to climate positive. Therefore, Panera is developing a long-term roadmap to reduce its emissions in line with a 1.5°C science-based target, committing to first significantly reduce its carbon footprint and then use credible carbon removal and sequestration projects to reach its goal of becoming climate positive.

“Panera has a long history of making tough, conscious choices about the food system, from serving chicken raised without antibiotics beginning in 2004 to being first to label calories on the menu,” said Sara Burnett, VP Food Beliefs & Sustainability. “With the launch of Cool Food Meals in 2020, Panera recognized the impact of your plate is much bigger than a calorie count; it also has an impact on the planet. As a continuation of our journey, we are committing to our ambitious goal and to work with others in our industry to make this vision for a climate positive future a reality.”

These actions build on Panera’s ongoing efforts to help guests eat with the planet in mind. One year ago, in collaboration with World Resources Institute (WRI), Panera was the first national restaurant company to label Cool Food Meals on its menu—those meals that have a low impact on the climate, making them a delicious way to help the planet. More than half of Panera entrees are Cool Food Meals including guest favorites like the Chipotle Chicken Avocado Melt, Autumn Squash Soup, Fuji Apple Chicken Salad and even Broccoli Cheddar Soup. If, each year, every person in the U.S. swapped 10 quarter-pound burgers with fries for 10 Chipotle Chicken Avocado Melt sandwiches with chips for, given the climate impacts of those items, it would reduce carbon emissions by 77 million metric tons of carbon dioxide equivalent. This change equates to taking more than 16 million passenger vehicles off the road for one year.

To learn more about Panera’s Food Beliefs, visit PaneraBread.com/FoodBeliefs. For a full list of Panera Cool Food menu items, visit PaneraBread.com/CoolFoodMeals, or order a Cool Food Meal now at www.panerabread.com. To learn more about the science behind the Cool Food Meal label, visit CoolFood.org/consumer.

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About Panera Bread

Thirty years ago, at a time when quick service meant low quality, Panera set out to challenge this expectation. We believed that food that was good and that you could feel good about, served in a warm and welcoming environment by people who cared, could bring out the best in all of us. To us, that is food as it should be and that is why we exist.

So, we began with a simple commitment: to bake bread fresh every day in our bakery-cafes. No short cuts, just bakers with simple ingredients and hot ovens. Each night, any unsold bread and baked goods were shared with neighbors in need.

These traditions carry on today, as we have continued to find ways to be an ally for wellness to our guests. That means crafting a menu of soups, salads, and sandwiches that we are proud to feed our families. Like poultry and pork raised without antibiotics on our salads and sandwiches. A commitment to transparency and options that empower our guests to eat the way they want. Seasonal flavors and whole grains. And a commitment to avoid artificial additives (preservatives, sweeteners, flavors, and colors from artificial sources on our No No list) in the food in our U.S. bakery-cafes. Why? Because we think that simpler is better and we believe in serving food as it should be. Because when you don’t have to compromise to eat well, all that is left is the joy of eating.

We’re also focused on improving quality and convenience. With investments in technology and operations, we now offer new ways to enjoy your Panera favorites – like mobile ordering and Rapid Pick-Up® for to-go orders and delivery – all designed to make things easier for our guests.

As of Sept. 28, 2021, there were 2,120 bakery-cafes in 48 states, Washington, DC, and Ontario, Canada, operating under the Panera Bread® or Saint Louis Bread Co.® names. Panera Bread is part of Panera Brands, one of the world’s largest fast casual restaurant companies, comprised of Panera Bread®, Caribou Coffee® and Einstein Bros.® Bagels. For more information, visit panerabread.com or find us on Twitter (@panerabread), Facebook (facebook.com/panerabread) or Instagram (@panerabread).

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Edward Ruddy
Sloane & Company
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Market leader’s data science innovations yield highly accurate ETAs for 100% of ocean shipments, along with powerful new tools to mitigate detention and demurrage risk

CHICAGO--(BUSINESS WIRE)--FourKites^®, the world’s leading real-time supply chain visibility platform, today introduced Dynamic ETA^® for Ocean, a new AI-powered innovation as part of its Dynamic Ocean^SM offering. The new enhancement provides shippers, carriers and 3PLs with the market’s most accurate estimated times of arrival (ETAs) for 100% of their ocean shipments across all lanes worldwide. In addition, the company has rolled out new capabilities for monitoring and mitigating demurrage and detention risks. With these new enhancements, FourKites now provides the most advanced and robust solution on the market for real-time and predictive ocean visibility, exception management and cost controls.

These powerful new tools were designed in direct response to the ongoing disruptions in ocean shipping that have delayed shipments, causing fees and related expenses to soar. Port congestion, vessel delays, and incorrect or incomplete documentation are common challenges for ocean shippers during normal times; the global container shortage, port shutdowns, natural disasters, the COVID-19 pandemic and other recent incidents have exacerbated these issues and caused an accumulation of demurrage and detention fees that are reaching thousands of dollars per container per day — and which can rise into millions of dollars in annual transportation costs for shippers.

FourKites’ new Dynamic ETA for Ocean provides real-time, automated and predictive ETAs that are 20% to 40% more accurate than carrier-generated ETAs. This new AI-driven capability is based on FourKites’ patented Smart Forecasted Arrival technology, and brings together voyage and routing data and captain data, alongside more than 5TB of historical Automatic Identification System (AIS) vessel data and 6 million port-to-port trips across 100,000 lanes worldwide over the last two years.

“FourKites’ automated reporting and tracking for ocean shipments provides more accurate and real-time data,” said Bob Hayes, Vice President of Global Supply Chain at Canfor. “This allows Canfor to respond to customer inquiries quicker and with up-to-date information on our upcoming shipments that would have otherwise had to be manually tracked.”

FourKites has also introduced a suite of new demurrage and detention tools that provide customers with an early warning solution and actionable insights, replacing the manual and/or spreadsheet-driven approaches used by most shippers. These tools include:

• Exception Dashboards that monitor the containers that are (or likely will) incur detention and demurrage fees, and provide real-time rerouting alerts and dwell time notifications for all ocean shipments. Customers can prioritize containers that are currently accumulating fees or that are at risk of incurring penalties, and estimate the costs that are being incurred to minimize transportation fees.
• Notifications and Alerts for containers that are (or soon will be) incurring demurrage and detention fees, giving customers the ability to minimize their impact on transportation costs and proactively manage customer satisfaction.
• Analytics Dashboards that provide performance trends by lane, carrier, stop and other areas, so customers can identify systemic problems, improve strategic decision-making, and minimize detention and demurrage costs.

“Ocean shipping is an indispensable mode of transport that comes with a great deal of uncertainty and risk,” said Chris Stauber, Vice President of Product - Ocean/Air at FourKites. “Today’s release of the industry’s most accurate predictive ETAs for ocean freight, together with our new monitoring and management tools for detention and demurrage, gives shippers the powerful capabilities they need to effectively manage and mitigate rising transportation costs during a time of constant upheaval.”

As ongoing disruption continues to impact global supply chains, FourKites has seen unprecedented growth in its ocean visibility platform. Over the last 12 months, FourKites has seen 450% growth in ocean loads tracked, and 40% growth quarter over quarter. Since launching Dynamic Ocean in April 2021, which covers 98% of global ocean shipments, 100% of terminals in North America and the majority of terminals in Europe, FourKites has seen a 50% increase in ocean visibility customers, including Yara International, International Forest Products and Zebra Technologies.

About FourKites

FourKites^® is a leading global supply chain visibility platform, extending visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 2 million shipments daily across road, rail, ocean, air, parcel and courier, and reaching 176 countries, FourKites combines real-time data and powerful machine learning to help companies digitize their end-to-end supply chains. More than 620 of the world’s most recognized brands — including 9 of the top-10 CPG and 18 of the top-20 food and beverage companies — trust FourKites to transform their business and create more agile, efficient and sustainable supply chains. To learn more, visit https://www.fourkites.com/.

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• Orders of $5.4 billion for the quarter, up 6% sequentially and up 5% year-over-year.
• Revenue of $5.1 billion for the quarter, down 1% sequentially and up 1% year-over-year.
• GAAP operating income of $378 million for the quarter, up 95% sequentially and favorable year-over-year.
• Adjusted operating income (a non-GAAP measure) of $402 million for the quarter was up 21% sequentially and up 72% year-over-year.
• Adjusted EBITDA* (a non-GAAP measure) of $664 million for the quarter was up 9% sequentially and up 21% year-over-year.
• GAAP earnings per share of $0.01 for the quarter which included $0.15 per share of adjusting items. Adjusted earnings per share (a non-GAAP measure) was $0.16.
• Cash flows generated from operating activities were $416 million for the quarter. Free cash flow (a non-GAAP measure) for the quarter was $305 million.

The Company presents its financial results in accordance with GAAP. However, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. Please see reconciliations in the section entitled "Reconciliation of GAAP to non-GAAP Financial Measures." Certain columns and rows in our tables and financial statements may not sum up due to the use of rounded numbers.

*Adjusted EBITDA (a non-GAAP measure) is defined as operating income (loss) excluding depreciation & amortization and operating income adjustments.

LONDON & HOUSTON--(BUSINESS WIRE)--Baker Hughes Company (NYSE: BKR) ("Baker Hughes" or the "Company") announced results today for the third quarter of 2021.

“We are pleased with the way the team has continued to execute on our strategy over the course of the third quarter. At the total company level, we had a strong orders quarter, grew adjusted EBITDA and adjusted Operating Income margin rate sequentially and year-over-year, and we had another solid quarter of free cash flow. We did experience some mixed results across our segments during the quarter. TPS and OFE delivered solid orders, and TPS also delivered solid operating income and margin rates. OFS was negatively impacted by Hurricane Ida, cost inflation in our chemicals business, and delivery issues stemming from supply chain constraints, while DS also faced supply chain issues that impacted product deliveries. Despite these challenges, I want to thank our employees and partners for their continued hard work and commitment to safety,” said Lorenzo Simonelli, Baker Hughes chairman and chief executive officer.

“As we look ahead to the rest of 2021 and into 2022, we see continued signs of global economic recovery that should drive further demand growth for oil and natural gas. However, the pace of growth is being hampered by the COVID-19 Delta variant, global chip shortages, supply chain issues, and energy supply constraints. Despite these headwinds, global growth appears to be on relatively solid footing, underpinning a favorable outlook for the oil market, aided by continued spending discipline by the world’s largest producers. Natural gas and LNG fundamentals remain strong, with a combination of solid demand growth and extremely tight supply in many regions. In addition, we believe the positive case for structural demand growth in natural gas as part of the broader energy transition is becoming increasingly evident."

“We remain committed to evolving our company with the energy and industrial markets while continuing to prioritize higher margins, returning capital to our shareholders, and free cash flow. We look forward to supporting our customers, advancing our strategic priorities, and delivering for our shareholders,” concluded Simonelli.

Quarter Highlights

Supporting our Customers

The OFS segment secured several key contracts for Integrated Well Services (IWS). OFS secured an IWS contract for a new gas production startup project in Trinidad and Tobago, providing comprehensive well construction solutions including drilling services, drilling and completion fluids, cementing, drill bits and downhole tools, wellbore cleanout and completion services. The OFS team delivered the project scope 27 days ahead of the planned time.

OFS’s Completions and Well Intervention, Drilling Services, Drill Bit, and Drilling and Completion Fluids product lines continued to expand their presence in Guyana. Key contracts were secured for services and equipment for a third rig, in addition to two rigs already utilizing Baker Hughes services. OFS' Oilfield & Industrial Chemicals product line and TPS will also be providing equipment and products on a new floating production, storage and offloading (FPSO) vessel arriving in Guyana later this year.

The OFE segment continued to support customers with subsea projects in multiple regions. In Australia, OFE secured a contract with Chevron to deliver subsea compression manifold technology for the Jansz-lo Compression (J-lC) project. The contract was secured using OFE’s Subsea Connect portfolio of technologies and early engagement approach, allowing for the latest technologies to be utilized by J-IC. This award builds on OFE’s previous successes for subsea equipment orders for Chevron’s Gorgon natural gas facility.

The TPS segment continued to see growth in the offshore segment, securing several contracts to supply turbomachinery equipment for FPSO projects. In Brazil, TPS will supply critical turbomachinery technology for two FPSO projects, including LM2500 and LM6000 gas turbines for power generation and compression, electric motor driven compressors, and spare parts.

TPS also secured multiple contracts to supply its innovative and flexible NovaLT16 gas turbine technology for industrial applications. In India, TPS secured a contract to provide one NovaLT16 turbine for power generation at an ammonia plant. The customer awarded the contract based on the NovaLT’s superior performance in electrical efficiency (36% at ISO conditions), plant availability (35,000 hours mean time between maintenance) and emissions reduction capabilities. In China, TPS was awarded a contract for the supply two NovaLT16 turbines to be used in energy production for power and heating needs across a number of industrial segments, including electronics, and pharmaceutical manufacturing.

The DS segment continued to secure key contacts in multiple segments, including downstream oil and gas, renewable energy, pulp and paper, and transportation. The Panametrics product line secured a key contract with a major Mexican oil & gas operator for PanaFlow flowmeters and flare management solutions to be used in a refinery.

In Latin America, the Bently Nevada product line secured a contract with Aliança Energia, one of the largest private power generation companies in Brazil, to deploy System 1 and condition monitoring solutions to two hydroelectric plants and a wind farm. System 1 will deliver proactive asset management to more than 600 megawatts of power between the three power generation facilities, enabling safer and more reliable renewable energy.

The Nexus Controls product line secured a contract to upgrade two pumped-storage hydroelectric power generation facilities in Korea. The upgrade represents the first application of its kind for the Nexus Oncore Control System in the Asia-Pacific region.

The Druck and Waygate Technologies product lines secured several strategic contracts in the aerospace and transportation segments. Druck continued to see growth in its pressure measurement technologies in the recovering aerospace segment, securing contracts in North America, Asia and Europe, including orders for air data test sets (ADTS) and trench-etched resonant pressure sensors (TERPS) from both military and commercial customers.

Waygate Technologies secured a large contract with Deutsche Bahn (DB), the largest railway company in Europe, to inspect material flaws in the wheels of high-speed trains during scheduled maintenance. Waygate will provide its Krautkrämer ultrasonic testing technology to DB, significantly reducing inspection time over handheld methods and allowing the wheels to stay on the train due to the automatic process.

Executing on Priorities

During the third quarter, Baker Hughes announced a $2 billion share repurchase authorization in July 2021, representing the optimistic view of the Company’s future as well as its strong balance sheet and robust cash profile.

On October 1, 2021, OFE completed the merger of its Subsea Drilling Systems product line (SDS) with Akastor ASA’s subsidiary, MHWirth AS, to form a new joint venture company (JV). The new JV, known as HMH, provides integrated delivery capabilities, capital, renowned industry expertise and a full range of offshore drilling equipment solutions at scale. Baker Hughes owns a 50% stake in HMH.

OFE also advanced its non-metallic composite pipe applications, signing a memorandum of understanding (MOU) with Primus Line to drive non-metallic pipeline growth in the pipeline integrity management market. The collaboration aims to rehabilitate and repurpose existing pressure pipelines, offering Baker Hughes’ scale and extensive non-metallics portfolio alongside Primus Line’s domain expertise and existing customer base in trenchless pipeline rehabilitation. The collaboration will also aim to jointly offer non-metallic solutions to repurpose existing pipeline networks for hydrogen and carbon dioxide (CO2) transportation.

AkerBP awarded a contract to TPS for the upgrade of the turbogenerator train systems at the Alveheim FPSO in Norway. The scope of supply includes Carbon Optimizer, a digital solution that enables the reduction of fuel gas and CO2 emissions by leveraging data gathered through the TPS iCenter data vault and combining it with control software to optimize the efficiency of the equipment at partial load. Combined with an Outcome Based Service contractual framework, Baker Hughes estimates that its solution will enable AkerBP to achieve up to a seven percent CO2 reduction per year, helping the customer reach its target to be net-zero by 2050.

TPS secured an award for the upgrade of control systems on rotating equipment for two different customers in Egypt and Italy for refinery and onshore gas reinjection applications, respectively. Baker Hughes will replace the current system with its Nexus OnCore solution from the DS segment. The advanced, fully configurable solution improves asset visibility, provides built-in troubleshooting and maintenance tools, simplified expansion capabilities, and reduces overall installation and training costs.

TPS also saw continued customer interest in carbon capture, utilization and storage (CCUS) and hydrogen applications. TPS was selected to supply booster and export centrifugal pumps to the Northern Lights CO2 transport and storage project in Norway. Once operational in 2024, the Northern Lights project will be the first ever cross-border, open-source CO2 transport and storage infrastructure network. TPS was selected for the project due to its proven CO2 pump injection capabilities and will be the first CCUS project for the Pumps product line.

OFS continued to advance customer collaborations in CCUS and geothermal by leveraging its subsurface domain expertise. In California, a CCUS study was conducted for Aemetis, Inc., an advanced renewable fuels and biochemicals company, confirming more than two million metric tonnes (MT) of CO2 can be captured annually from two ethanol plant sites and sequestered safely in local geologic formations. The project is the first of its kind globally and is projected to yield below zero carbon intensity once complete.

In geothermal, OFS delivered a significant technical and economic feasibility study in conjunction with the University of Oklahoma that is expected to advance the first SuperHot Rock (SHR) geothermal project in the U.S. The study was performed on behalf of Seattle-based AltaRock Energy and demonstrates the potential for scalable, low-cost geothermal energy using an engineered geothermal system (EGS) resource at Newberry Volcano in Oregon.

OFS continued to transform oilfield operations by making digital and automated improvements, enabling customers to increase production and reduce emissions. U.S.-based natural gas producer Vine Energy is deploying OFS’ artificial lift solution, ProductionLink™ Edge, across 100 natural gas wells in Louisiana’s Haynesville Shale. ProductionLink Edge uses advanced analytics and “smart” edge technology to boost production and reduce associated methane emissions from oil and gas wells by reducing well unloading events. During a three-month, 10-well joint pilot project, Vine’s gas production increased by 5% and well unloading events decreased by 94%.

DS continued growth in industrial asset management wins across in multiple end-markets and drove digital transformation for customers. In the Middle East, Bently Nevada secured a five-year strategic framework agreement with SABIC to deliver plant-wide condition monitoring and machine asset protection services across more than 1,200 assets and 16 facilities in Saudi Arabia. In Brazil, the Bently Nevada product line secured a contract with Vale, the world’s largest producer of iron ore, to deploy System 1 asset management software and edge devices to monitor critical components on mining haul trucks and shovels.

Leading with Innovation

The BakerHughesC3.ai alliance (BHC3) announced that Canadian customer MEG Energy successfully deployed the AI-based BHC3 Production Optimization application to improve operational efficiency, productivity, and better visualize risk across the company’s upstream production operations. MEG Energy is using BHC3 Production Optimization to monitor moment-to-moment operations, allowing seamless integration between engineers and field staff. The application creates actionable predictive insights to improve the efficiency of MEG’s steam-assisted gravity drainage (SAGD) production, with a system of virtual alerts and meters are providing measurements for emulsion, gas, and vapor across more than 300 thermal production wells.

OFS introduced the i-Trak™ automated reservoir navigation service (RNS), a first-of-its-kind offering that lets Baker Hughes engineers steer the bottomhole assembly to the most productive sections of a reservoir more consistently, faster and with fewer resources. The service uses reservoir models, reservoir mapping systems, real-time formation evaluation data, proprietary algorithms, and continuous steerable drilling systems to automate the process. I-Trak is already proven in the field, with an extra 100,000 barrels added to a customer's reserves in one recent well. It has already been used on more than 25 extended reach and multilateral wells to navigate more than 150,000 feet (45000 meters) of reservoir.

Waygate Technologies launched several new industrial inspection solutions to improve accuracy, digital connectivity and ergonomics for customers, including the new Krautkramer USM 100 handheld UT device and the Everest Mentor Flex VideoProbe. In addition, Waygate launched its latest InspectionWorks Analyze software for advanced automatic defect recognition (ADR) capabilities, helping customers to automatically detect defects, classify them and simply decision-making. These technologies are applicable to multiple industrial end-markets and already have significant customer adoption in the aerospace, automotive, electronics, rotating equipment, and power markets.

Consolidated Results by Reporting Segment

Consolidated Orders by Reporting Segment

Orders for the quarter were $5,378 million, up 6% sequentially and up 5% year-over-year. The sequential increase was a result of higher order intake in Turbomachinery & Process Solutions, Oilfield Services, and Oilfield Equipment, partially offset by a reduction in Digital Solutions. Equipment orders were up 15% sequentially and service orders were down 1%.

Year-over-year, the increase in orders was a result of higher order intake in Oilfield Equipment, Oilfield Services, and Digital Solutions, partially offset by a decline in Turbomachinery & Process Solutions. Year-over-year equipment orders were down 7% and service orders were up 18%.

The Company's total book-to-bill ratio in the quarter was 1.1; the equipment book-to-bill ratio in the quarter was 1.1.

Remaining Performance Obligations (RPO) in the third quarter ended at $23.5 billion, a decrease of $0.3 billion from the second quarter of 2021. Equipment RPO was $7.6 billion, down 1%. Services RPO was $15.9 billion, down 2% sequentially.

Consolidated Revenue by Reporting Segment

Revenue for the quarter was $5,093 million, a decrease of 1%, sequentially. The decrease in revenue was driven by Oilfield Equipment, Turbomachinery & Process Solutions, and Digital Solutions, partially offset by higher volume in Oilfield Services.

Compared to the same quarter last year, revenue was up 1%, driven by higher volume in Oilfield Services, Turbomachinery & Process Solutions, and Digital Solutions segments, partially offset by Oilfield Equipment.

Consolidated Operating Income by Reporting Segment

On a GAAP basis, operating income for the third quarter of 2021 was $378 million. Operating income increased $185 million sequentially and increased $427 million year-over-year. Total segment operating income was $508 million for the third quarter of 2021, up 14% sequentially and up 46% year-over-year.

Adjusted operating income (a non-GAAP measure) for the third quarter of 2021 was $402 million, which excludes adjustments totaling $24 million before tax, mainly related to restructuring and separation related charges. A complete list of the adjusting items and associated reconciliation from GAAP has been provided in Table 1a in the section entitled “Reconciliation of GAAP to non-GAAP Financial Measures.” Adjusted operating income for the third quarter of 2021 was up 21% sequentially, driven by volume in Oilfield Services, and margin expansion in Turbomachinery & Process Solutions, partially offset by margin contraction in Oilfield Equipment. Adjusted operating income was up 72% year-over-year driven by volume and margin expansion in the Turbomachinery & Process Solutions and Oilfield Services segments, partially offset by lower volume in Oilfield Equipment and margin contraction in the Digital Solutions segment.

Depreciation and amortization for the third quarter of 2021 was $262 million.

Adjusted EBITDA (a non-GAAP measure) for the third quarter of 2021 was $664 million, which excludes adjustments totaling $24 million before tax, mainly related to restructuring and separation related charges. Adjusted EBITDA for the third quarter was up 9% sequentially and up 21% year-over-year.

Corporate costs were $105 million in the third quarter of 2021, down 5% sequentially and down 8% year-over-year.

Other Financial Items

Income tax expense in the third quarter of 2021 was $193 million.

Other non-operating loss in the third quarter of 2021 was $102 million. Included in other non-operating loss are losses from the net change in fair value of our investment in C3.ai.

GAAP diluted earnings per share was $0.01. Adjusted diluted earnings per share was $0.16. Excluded from adjusted diluted earnings per share were all items listed in Table 1a in the section entitled "Reconciliation of GAAP to non-GAAP Financial Measures" as well as the "other adjustments (non-operating)" found in Table 1c.

Cash flow from operating activities was $416 million for the third quarter of 2021. Free cash flow (a non-GAAP measure) for the quarter was $305 million. A reconciliation from GAAP has been provided in Table 1d in the section entitled "Reconciliation of GAAP to non-GAAP Financial Measures."

Capital expenditures, net of proceeds from disposal of assets, were $111 million for the third quarter of 2021.

Results by Reporting Segment

The following segment discussions and variance explanations are intended to reflect management's view of the relevant comparisons of financial results on a sequential or year-over-year basis, depending on the business dynamics of the reporting segments.

Oilfield Services

Oilfield Services (OFS) revenue of $2,419 million for the third quarter increased by $60 million, or 3%, sequentially.

North America revenue was $714 million, up 3% sequentially. International revenue was $1,705 million, an increase of 2% sequentially, driven by higher revenues in the Middle East, Latin America and Russia CIS, partially offset by lower revenues in Europe, Asia Pacific and Sub Saharan Africa.

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• Hanford Mayor Francisco Ramirez and City Manager Mario Cifuentez recently visited Faraday Future’s manufacturing site in Hanford, California to review the construction and equipment installation progress
• FF will hire 50 new employees at its Hanford production facility by year end and up to an additional 350 more in 2022 as it ramps up production
• FF recently completed its first major milestone at its Hanford facility and laid out its upcoming plans for the remaining key milestones leading up to Start of Production (SOP) next summer

HANFORD, Calif.--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, recently welcomed Hanford Mayor Francisco Ramirez and City Manager Mario Cifuentez to its production facility in the Central Valley of California to share current and future progress updates related to its production plans. FF invited the local officials as a part of a recent executive update session at its Hanford plant that detailed upcoming milestones in its manufacturing process for the ultimate intelligent techluxury FF 91 EV. FF remains on-target to launch the FF 91 in July 2022.

“I want to thank FF for giving me a very straightforward and thorough update tour of their FF 91 factory here in Hanford last week. I was able to see firsthand just how far they have come in a short time and also hear about their strategic milestones, including local hiring plans, as they ramp up to fully complete their production facility in the coming months,” said Hanford Mayor Ramirez. “This facility will be a first-rate production hub for their vehicles and will allow local qualified residents to be part of the workforce they are bringing in now and the near future to help deliver the FF 91 to the market next summer.”

A video interview with Hanford Mayor Ramirez with more detail on his visit to FF’s manufacturing facility can be found here: https://ev.ff.com/3BXpYet

The FF 91 production goals are modest, focusing on smaller volume and specific clientele, ensuring a smooth roll out of the FF 91 and future vehicles. FF’s Hanford facility will adopt a bespoke, high-quality, luxury-focused production setup for its flagship FF 91 EV, engineered and designed for superior craftsmanship befitting FF’s exclusive, high-end, luxury vehicles. This is one of the many FF differentiators compared to traditional OEM mass production.

“FF represents a true anchor on which to attract additional technology and EV companies. The Economic Development Corp. (EDC) was involved in helping to recruit FF to Kings County, and we have maintained a positive relationship with the company,” said Kings County EDC President Lance Lippincott. “We are confident their success will encourage suppliers and other businesses to locate in Kings County. We are ready to help them be successful.”

Since going public in July, FF has kicked off construction at the Hanford plant and has completed the pilot line systems to support FF pre-production builds. A video link with more detail on FF’s Hanford manufacturing facility including a detailed walk through conducted by Matt Tall, FF’s VP of manufacturing can be viewed here: https://ev.ff.com/3E0mt7I

The FF 91 Futurist Alliance Edition and FF 91 Futurist models represent the next generation of intelligent techluxury EVs. They are high-performance EVs, all-in-one all-ability cars, and ultimate robotic vehicles that allow users to experience a third internet living space beyond their home and office. The models encompass extreme technology, an ultimate user experience and a complete ecosystem. Users can reserve an FF 91 Futurist model now via the FF intelligent APP or FF.com at: https://www.ff.com/us/reserve

Download the new FF intelligent APP at: https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online

ABOUT FARADAY FUTURE

Established in May 2014, FF is a global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. Since its inception, FF has implemented numerous innovations relating to its products, technology, business model, profit model, user ecosystem, and governance structure. On July 22, 2021, FF was listed on NASDAQ with the new company name “Faraday Future Intelligent Electric Inc.”, and the ticker symbols “FFIE” for its Class A common stock and “FFIEW” for its warrants. FF aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. With the ultimate intelligent techluxury brand positioning, FF’s first flagship product FF 91 Futurist is equipped with unbeatable product power. It is not just a high-performance EV, an all-ability car, and an ultimate robotic vehicle, but also the third internet living space.

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NO OFFER OR SOLICITATION

This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

FORWARD LOOKING STATEMENTS

This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside FF’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include FF’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; FF’s estimates of the size of the markets for its vehicles and costs to bring its vehicles to market; the rate and degree of market acceptance of FF’s vehicles; the success of other competing manufacturers; the performance and security of FF’s vehicles; potential litigation involving FF; the result of future financing efforts and general economic and market conditions impacting demand for FF’s products. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the preliminary registration statement on Form S-1 recently filed by FF and other documents filed by FF from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FF does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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Leading investment firm works to accelerate the transition to clean energy through inclusion, collaboration, and transparent reporting

NEW YORK--(BUSINESS WIRE)--#EIPESG--Energy Impact Partners (EIP), one of the world’s leading investors focused on the clean energy transition, announced today it has issued its 2021 ESG and Impact Performance Report. EIP’s impact expanded in 2020 with increased carbon savings across its portfolio – notably, lifetime carbon savings increased by 42 percent - and a new fund devoted entirely to founders and leaders from underrepresented groups in its industry.

EIP’s ESG and Impact Performance Report measures the environmental impact and DE&I efforts of the firm’s investment activities in 2020, as well as its portfolio companies’ ESG performance. Highlights from this year’s report include the following:

Measurable impact generated by EIP:

• Coalition of strategic investors achieved CO2e emission reductions of 40 percent
• Launched the Elevate Future Fund, which aims to create a more diverse founder community and inclusive venture capital ecosystem within the broader energy transition
• Provided additional DE&I training and a summer internship program focused exclusively on expanding DE&I in the clean energy sector
• Portfolio supported over 3,500 jobs and created over 1,000 new clean energy jobs

Measurable impacts generated by EIP’s portfolio companies:

• 2.8 million metric tons of CO2e avoided – equivalent to planting 46 million trees or taking 590,000 cars off the road – an increase of 56% over 2019
• Saved 150 million gallons of fuel– the equivalent of 3.7 billion vehicle miles driven per year – an increase of 59% over 2019
• Reduced the consumption of electricity by 3.2 million MWh – equivalent to the annual electricity consumption of 290,000 homes per year – up 90% from 2019
• Mitigated the use of 1.9 billion gallons of water – the equivalent of 22,000 households per year – up 46% from 2019

As its platform has grown, EIP has expanded and improved its ESG and impact measurements to increase transparency and accountability in the industry. This year, EIP measured its impact in four distinct pathways including direct impacts, foundational impacts, partner impacts and industry thought leadership. The firm also improved its ESG data collection and evaluation questionnaires and systems, particularly for evaluating potential investments DE&I impact, policies and goals.

“We are a data driven organization. We were custom-built on the premise of having an impact on both our partners future and the environment. Measuring that impact has always been an integral part of fulfilling this mission. As our platform has grown, we have expanded and improved our ESG and impact measurement across all our funds, starting with formal impact reporting more than three years ago,” said Hans Kobler, Founder & Managing Partner at EIP.

“Tackling climate change and the path towards net zero carbon is a massive challenge. Collaboration between key stakeholders is the key to getting us there on time,” said Peter Fox-Penner, Chief Impact Officer and Partner at EIP.

EIP is deeply engaged with an industry that is at the core of the energy transition. The firm brings together a diverse group of forward-looking utilities, companies and entrepreneurs that are committed to reduce greenhouse gas emissions. EIP’s partner networks owns and manages massive energy and industrial systems across four continents; serves more than 200 million residential electric customers, and collectively spends more than $65 billion in capital expenditures each year.

For more information about EIP’s ESG and Impact Performance Report, click here.

About EIP

Energy Impact Partners, LP (EIP) is a global investment platform leading the transition to a sustainable energy future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure – and has a team of more than 50 professionals based in its offices in New York, San Francisco, Palm Beach, London, Cologne and Oslo. For more information on EIP, please visit www.energyimpactpartners.com

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Tori McDonnell
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703-338-2362

LONDON--(BUSINESS WIRE)--Total Telecom attended Huawei’s Better World Summit (BWS) for Green ICT for Green development in Dubai in United Arab Emirates (UAE), found out that the ICT industry, which is a backbone of the modern-day global economy, must adopt green and energy-efficient practices and products and take the lead in correcting the course of the climate change crisis.

Huawei is at the forefront to reduce our new carbon emissions and has taken several initiatives to bring down its own carbon emissions. "With our innovative products and solutions, we want to work with customers and industry partners to jointly define industry standards, and help operators better measure and manage their carbon reduction roadmaps," says Bob Cai, Chief Marketing Officer at Carrier Business Group, while opening the Summit.

The company is not just taking measures to reduce its carbon emissions but is also pursuing innovations to make telecom networks more sustainable and energy-efficient. Cai further elaborated that the ICT industry has to maintain a balance between development and lowering carbon emissions to better manage and measure carbon reduction roadmaps.

Several speakers highlighted the role of 5G in bringing down carbon emissions. "5G is significantly greener technology compared with previous standards besides emerging as a revenue generator. It has already been deployed in 176 countries providing ultra-high-speed broadband to around 500 million subscribers. In China, it helped the operators achieve 11.2% in profit," says Jiang of Huawei.

Several senior industry leaders from different segments of the industry participated in the event to highlight the efforts made and the strategy adopted by them to reduce carbon emissions and reach the target of net-zero.

Addressing the problem of climate change demands close collaboration between all the stakeholders, including the vendors, service providers, and industry bodies, the event provided a perfect opportunity to the ecosystem players to discuss different strategies to bring down the carbon emissions for a more sustainable world.

About Total Telecom

Total Telecom offers daily online news with the option to sign up for headlines by email and monthly analysis. Total Telecom organises the annual World Communication Awards, Asia Communication Awards and a range of conferences and networking opportunities, including Submarine Networks EMEA, 5GLIVE, Connected Italy, Connected Britain, Connected Germany and the Total Telecom Congress. Find out more at www.totaltele.com

Media
James Llewellyn
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HOUSTON--(BUSINESS WIRE)--The 26^th annual Halliburton Charity Golf Tournament raised $2.6 million for over 75 U.S. nonprofit organizations, once again making it one of the largest non-PGA golf tournament fundraisers. The tournament has raised more than $25 million for charities since it started in 1993.

Suppliers, employees, and Halliburton volunteers participated in the fundraiser, held at The Clubs of Kingwood, and 130 organizations sponsored the event.

“We are grateful for our sponsors who, with their generous contributions, made this event possible. It is an honor to provide funds to these outstanding charities whose work makes a positive difference in the lives of thousands of individuals every day,” said Jeff Miller, Halliburton chairman, president and CEO.

Out of the over 75 charities who benefited, the Halliburton Charitable Foundation invited 31 to join the golfers at the event. This year’s participating charities are:

ABOUT HALLIBURTON

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 130 nationalities in more than 70 countries, the Company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

For Investors:
David Coleman
Investor Relations
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281-871-2688

For News Media:
Erin Fuchs
External Affairs
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281-871-2601

DUBLIN--(BUSINESS WIRE)--The "Global Midstream New-Build and Expansion Projects Outlook to 2025 - Transmission Pipelines Dominate Global Midstream Project Starts" report has been added to ResearchAndMarkets.com's offering.

Globally, 1,174 upcoming midstream projects are expected to start operations during the 2021 to 2025 outlook period. Of these, 1,073 represent new build projects and 101 are expansions of existing projects.

In the midstream sector, the trunk/transmission pipelines segment is expected to witness the start of operations of the highest number of projects globally with 509 during the 2021-2025 period. Liquids storage and gas processing segments follow with 276 and 146 projects, respectively.

Scope

• Global midstream projects count by type, and development stage that are expected to start operations during 2021-2025
• Global midstream projects cost by type, region, segment, and key countries during the period 2021-2025
• Global midstream projects capacity additions by type, segment, and key countries during the period 2021-2025
• Details of major LNG liquefaction, LNG regasification, pipelines, liquid storage, gas processing, and gas storage projects that are expected to start operations during 2021-2025

Reasons to Buy

• Understand outlook of global midstream projects that are expected to start operations during 2021-2025
• Understand global midstream capacity and cost outlook by key segments during the period 2021-2025
• Keep abreast of key upcoming midstream projects globally during the outlook period
• Facilitate decision making on the basis of strong midstream projects data
• Develop business strategies with the help of specific insights on the global midstream sector
• Assess your competitor's planned midstream projects in the region

Key Topics Covered:

1 Table of Contents

1.1 List of Tables

1.2 List of Figures

2. Global Midstream New-Build and Expansion Projects Outlook, 2021-2025

2.1 Key Highlights

2.2 Midstream Projects Outlook by Type and Segment

2.3 Midstream Projects Outlook by Development Stage

2.4 Midstream Projects Cost Outlook by Type and Region

2.5 Midstream Projects Cost Outlook by Type and Key Countries

3. LNG Liquefaction Projects Outlook

3.1 LNG Liquefaction Projects Outlook by Type

3.2 LNG Liquefaction Projects Outlook by Development Stage

3.3 LNG Liquefaction Projects Capacity Additions Outlook by Type and Key Countries

3.4 LNG Liquefaction Projects Cost Outlook by Type and Key Countries

3.5 Major LNG Liquefaction Projects

4. LNG Regasification Projects Outlook

4.1 LNG Regasification Projects Outlook by Type

4.2 LNG Regasification Projects Outlook by Development Stage

4.3 LNG Regasification Projects Capacity Additions Outlook by Type and Key Countries

4.4 LNG Regasification Projects Cost Outlook by Type and Key Countries

4.5 Major LNG Regasification Projects

5. Pipelines Projects Outlook

5.1 Projects Outlook by Pipeline Type

5.2 Pipeline Projects Outlook by Development Stage

5.3 Pipeline Projects Length Additions Outlook by Type and Key Countries

5.4 Pipelines Projects Cost Outlook by Type and Key Countries

5.5 Major Pipelines Projects

6. Liquids Storage Projects Outlook

6.1 Liquids Storage Projects Outlook by Type

6.2 Liquid Storage Projects Outlook by Development Stage

6.3 Liquids Storage Capacity Additions Outlook by Type and Key Countries

6.4 Liquids Storage Projects Cost Outlook by Type and Key Countries

6.5 Major Liquids Storage Projects

7. Gas Processing Projects Outlook

7.1 Gas Processing Projects Outlook by Type

7.2 Gas Processing Projects Outlook by Development Stage

7.3 Gas Processing Projects Capacity Additions Outlook by Type and Key Countries

7.4 Gas Processing Projects Cost Outlook by Type and Key Countries

7.5 Major Gas Processing Projects

8. Gas Storage Projects Outlook

8.1 Gas Storage Projects Outlook by Type

8.2 Gas Storage Projects Outlook by Development Stage

8.3 Gas Storage Capacity Additions Outlook by Type and Key Countries

8.4 Gas Storage Projects Cost Outlook by Type and Key Countries

8.5 Major Gas Storage Projects

9. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/x855ru

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

UNIONDALE, N.Y.--(BUSINESS WIRE)--#billingsoftware--EC Infosystems, a leader in Electronic Data Interchange (EDI) and Billing/Customer Information Solutions (CIS) for companies in the deregulated energy industry, announced their annual user conference has been moved to February 2-4, 2022 and will remain at The Four Seasons Resort and Spa in Orlando, Florida.

In facing the difficult decision to push the event scheduled for November 2021, EC Infosystems will offer a half-day virtual session on November 11, 2021. The virtual gathering will feature an abbreviated version of the original agenda, with a full agenda for the in-person event to be released in the coming months. Virtual registration is open currently.

Located conveniently in the Walt Disney hotel district and just three miles from the legendary theme parks, the user conference will be held at the sprawling Four Seasons Resort and Spa at 10100 Dream Tree Boulevard LAKE BUENA VISTA, Orlando, FL 32836.

“The continued health of our clients, employees, and communities are a top priority, and we made the tough choice to push our event to February when we believe the pandemic will be in a safer state for both Florida and in the pandemic as a whole,” says EC Infosystems’ President and CEO, Mohan Wanchoo.

The 2022 event will focus on “Driving Growth.” Retailers can expect to collaborate, learn, and strategize significant growth opportunities leveraging EC Infosystems’ industry leading technology and tools.

“We look forward to welcoming our clients into a safe environment in February,” says Ananda Goswami, EC Infosystems’ Chief Revenue Officer.

User conference registration is complimentary and open for registration only to EC Infosystems’ EDI and Billing clients. Attendees are encouraged to take advantage of the extremely discounted lodging options at The Four Seasons Orlando early. EC Infosystems will also be offering a limited number of sponsorship opportunities for any energy industry companies looking to partner with their expansive customer base. To learn more or register, please visit the EC Infosystems’ website and reserve your spot today.

About EC Infosystems

EC Infosystems is a market-leading Software as a Service provider (SaaS) of Electronic Data Interchange (EDI) and UtiliBill™ (Billing/Customer Information Solutions (CIS)), serving more than 300 clients in the deregulated energy industry across the United States. The company's sophisticated software platform is user friendly, improves efficiency and operating performance, and provides clients with a strong competitive advantage. For more information, visit www.ecinfosystems.com.

ECI Media
Andreya Shaak
EC Infosystems
516-874-8000
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Accelerates growth in commercial vehicles and communications infrastructure

CHICAGO & PLAINVILLE, Conn.--(BUSINESS WIRE)--$LFUS--Littelfuse, Inc. (NASDAQ: LFUS) and Carling Technologies, Inc. (“Carling”) today announced that they have entered into a definitive agreement for Littelfuse to acquire Carling for $315 million in cash, subject to a working capital adjustment. Founded in 1920, Carling has a leading position in switching and circuit protection technologies with a strong global presence in commercial vehicle, marine and datacom/telecom infrastructure markets. The business is headquartered in Plainville, Connecticut, with offices and facilities located around the world. The company has annualized sales of approximately $170 million.

"We are excited to welcome Carling employees to the Littelfuse team," said Dave Lesperance, Vice President and General Manager, Littelfuse Commercial Vehicle Business. "With its strong brand name and a long history of innovation, quality, and reliability, Carling enhances our presence and growth in commercial vehicles and communications infrastructure. Our complementary engineering capabilities, application expertise, and product portfolios will drive deeper engagement with a broader base of customers and distribution partners, serving as a platform for future growth.”

"The combination of Carling and Littelfuse, both with a rich heritage, will leverage our collective resources and portfolios to create increased value for our customers," said Richard Sorenson, Sr., Carling Technologies President and Chief Executive Officer. "Joining a world-class organization like Littelfuse will accelerate our business plans and provide expanded opportunities for our employees around the world.”

The transaction is subject to customary closing conditions and regulatory approvals, and is expected to close during the fourth calendar quarter of 2021.

Littelfuse will share additional details about Carling during the company’s third quarter of fiscal 2021 earnings conference call on Wednesday, October 27, 2021 at 9:00 a.m. Central Time. The conference call will be available via webcast from www.littelfuse.com. A recording of the call will also be available there.

About Littelfuse

Littelfuse (NASDAQ: LFUS) is an industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 15 countries, and with 12,000 global associates, we partner with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, our products are found in a variety of industrial, transportation and electronics end markets – everywhere, every day. Learn more at littelfuse.com.

About Carling Technologies

Carling Technologies, Inc. is a privately owned global leader in switching, circuit protection, and power distribution technologies predominately serving the on-/off-highway vehicle, marine and datacom/telecom infrastructure markets. With worldwide operations and 2,800 employees, Carling has delivered high-quality solutions to a diverse OEM and distributor customer base for over 100 years. Learn more at carlingtechnologies.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

The statements in this press release that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of the Private Securities Litigation Reform Act. These statements may involve risks and uncertainties, including, but not limited to, risks and uncertainties relating to general economic conditions; the severity and duration of the COVID-19 pandemic and the measures taken in response thereto and the effects of those items on the company’s business; product demand and market acceptance; the impact of competitive products and pricing; product quality problems or product recalls; capacity and supply difficulties or constraints; coal mining exposures reserves; cybersecurity matters; failure of an indemnification for environmental liability; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Littelfuse, Inc.'s ("Littelfuse" or the "Company") accounting policies; labor disputes; restructuring costs in excess of expectations; pension plan asset returns less than assumed; integration of acquisitions; uncertainties related to political or regulatory changes; and other risks which may be detailed in the company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This release should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended December 26, 2020. Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 26, 2020, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at www.sec.gov. These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information.

LFUS-A

Littelfuse, Inc.
Investor Contact:
Trisha Tuntland
Head of Investor Relations
(773) 628-2163

Media Contact:
Steve Schrier
Head of Corporate Communications
(773) 628-2112
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Carling Technologies, Inc.
Paige Mazzochi
Strategic Marketing Manager
(860) 793‑7753
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CLEARWATER, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, today announced that the Company will hold a webcast to review its fourth quarter and full year fiscal 2021 results on Tuesday, October 26, 2021, at 10:00 a.m. Eastern Time.

To access the webcast, please visit the investor relations section of the Company's website: http://www.marinemax.com. The online replay will be available for a limited time beginning within one hour of the conclusion of the call.

The Company will release its fourth quarter and full year fiscal 2021 financial results prior to the market open on Tuesday, October 26, 2021.

During the call, it is possible that the Company may make public disclosure of material nonpublic information and may make forward-looking statements regarding the Company's business, operations, and financial condition.

About MarineMax

MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 77 retail dealership locations, which includes 31 marinas or storage operations. Through Fraser Yachts and Northrop and Johnson, the Company also is the largest super-yacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufactures boats and yachts with sales through our select retail dealership locations and through independent dealers. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also operates Boatyard, a pioneering digital platform that enhances the boating experience. MarineMax is a New York Stock Exchange-listed company (NYSE: HZO). For more information, please visit www.marinemax.com.

Michael H. McLamb
Chief Financial Officer
727-531-1700

Media:
Abbey Heimensen
MarineMax, Inc.

Investors:
Brad Cohen or Dawn Francfort
ICR, LLC
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DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today provided a brief operational update.

In August 2021, Matador began operating a fifth operated drilling rig on behalf of its midstream affiliate, San Mateo Midstream, LLC (“San Mateo”), for the purpose of drilling an additional salt water disposal well in the Company’s Greater Stebbins Area in Eddy County, New Mexico. This new salt water disposal well and the associated facilities are needed and expected to handle additional produced water volumes anticipated as a result of Matador’s increased drilling and completions activity in the Greater Stebbins Area during 2021. Matador expects to turn to sales nine wells in this area during the fourth quarter of 2021 as previously disclosed.

The anticipated drilling and completion of this new salt water disposal well was included as part of San Mateo’s 2021 capital expenditures budget as originally provided by the Company on February 23, 2021 and subsequently updated on July 27, 2021. Drilling operations on this salt water disposal well were completed in late September 2021, and this well is currently undergoing completion operations.

Matador’s portion of San Mateo’s capital expenditures was approximately $15 million for the third quarter of 2021, including the drilling costs associated with this new salt water disposal well, approximately 6% below the Company’s estimate of $16 million for the third quarter.

Matador contracted this fifth operated drilling rig for a term of six months. As a result, in early October 2021, following the conclusion of drilling operations on the salt water disposal well, Matador moved this rig to its Rodney Robinson leasehold in the western portion of the Antelope Ridge asset area in Lea County, New Mexico. Matador is currently running two rigs on its Rodney Robinson leasehold and expects to drill nine new wells there during the fourth quarter of 2021. These nine Rodney Robinson wells are anticipated to be completed in January and February 2022 and turned to sales before the end of the first quarter of 2022. By electing to use this additional drilling rig on its Rodney Robinson leasehold, Matador expects to be able to drill and complete all nine wells prior to any disruption of such operations beginning in early March 2022 attributable to regulatory restrictions associated with the mating season of the Lesser Prairie Chicken, as is customary in this area of New Mexico.

Matador incurred capital expenditures for drilling, completing and equipping wells (“D/C/E capital expenditures”) of approximately $121 million, approximately 14% below the Company’s estimate of $140 million for D/C/E capital expenditures for the third quarter of 2021. Matador estimates that approximately $5 to $6 million of these savings were directly attributable to its continued improvement in operational efficiencies resulting in lower-than-expected drilling and completion costs in the Delaware Basin. The remainder of these cost savings resulted primarily from the timing of both operated and non-operated drilling and completion activities, and most of these costs are expected to be incurred in the fourth quarter of 2021. As a result of achieving these additional cost savings in the third quarter of 2021, Matador does not anticipate any change to the midpoint of its full-year 2021 guidance for D/C/E capital expenditures, despite operating this additional drilling rig during the fourth quarter of 2021.

Matador looks forward to providing additional details regarding its third quarter 2021 operational and financial results when it issues its third quarter earnings release after the market close on Tuesday afternoon, October 26, 2021.

About Matador Resources Company

Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations, primarily through its midstream joint venture, San Mateo, in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.

For more information, visit Matador Resources Company at www.matadorresources.com.

Forward-Looking Statements

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. “Forward-looking statements” are statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “could,” “believe,” “would,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “should,” “continue,” “plan,” “predict,” “potential,” “project,” “hypothetical,” “forecasted” and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements include, but are not limited to, statements about guidance, projected or forecasted financial and operating results, future liquidity, the payment of dividends, results in certain basins, objectives, project timing, expectations and intentions, regulatory and governmental actions and other statements that are not historical facts. Actual results and future events could differ materially from those anticipated in such statements, and such forward-looking statements may not prove to be accurate. These forward-looking statements involve certain risks and uncertainties, including, but not limited to, the following risks related to financial and operational performance: general economic conditions; the Company’s ability to execute its business plan, including whether its drilling program is successful; changes in oil, natural gas and natural gas liquids prices and the demand for oil, natural gas and natural gas liquids; its ability to replace reserves and efficiently develop current reserves; costs of operations; delays and other difficulties related to producing oil, natural gas and natural gas liquids; delays and other difficulties related to regulatory and governmental approvals and restrictions; its ability to make acquisitions on economically acceptable terms; its ability to integrate acquisitions; availability of sufficient capital to execute its business plan, including from future cash flows, increases in its borrowing base and otherwise; weather and environmental conditions; the impact of the worldwide spread of the novel coronavirus, or COVID-19, on oil and natural gas demand, oil and natural gas prices and its business; the operating results of the Company’s midstream joint venture’s Black River cryogenic natural gas processing plant; the timing and operating results of the buildout by the Company’s midstream joint venture of oil, natural gas and water gathering and transportation systems and the drilling of any additional produced water disposal wells; and other important factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. For further discussions of risks and uncertainties, you should refer to Matador’s filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of Matador’s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. Matador undertakes no obligation to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Mac Schmitz
Capital Markets Coordinator
(972) 371-5225
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• Jack adds customer insight as well as deep knowledge into charging infrastructure needs and challenges to the board

LOVELAND, Colo.--(BUSINESS WIRE)--$ZEV #commercialevs--Lightning eMotors (NYSE: ZEV), a leading provider of all-electric powertrains and medium-duty and specialty commercial electric fleet vehicles, announced today that Kenneth Jack, vice president of fleet operations for Verizon Communications, was elected to the Lightning eMotors Board of Directors effective October 7^th.

Jack, 47, brings to the board more than 25 years of experience in fleet, logistics and operations management. With the addition of Jack, Lightning eMotors now has seven directors. Shareholders also reelected Robert Fenwick-Smith, Chairman of Lightning eMotors’ Board of Directors, and CEO Tim Reeser to the board.

“Ken Jack is an exciting addition to our Board of Directors,” Fenwick-Smith said. “His proven mobility and fleet operations leadership, and insights into Voice of the Customer, will be instrumental in helping us drive value for shareholders and other stakeholders as we continue to advance our commitment to simplifying fleet electrification.”

As Verizon Communications’ vice president of fleet operations, Jack is responsible for all procurement, performance, maintenance, operations, and policy related to Verizon's almost 30,000 vehicle North America fleet. Prior to joining Verizon in 2011, Jack was the general manager of transportation operations for Con Edison. There, he was responsible for all engineering, fleet procurement, administration, compliance, asset management and maintenance activities for Con Edison of NY and Orange & Rockland Utilities.

“Ken will not only provide valuable insights into the minds of our customers, he also brings a deep understanding of the nation's electric grid. He has first-hand knowledge of the challenges and opportunities related to developing a nationwide fleet electric vehicle charging infrastructure,” Reeser said. “His knowledge and insight will help us as we broaden our all-inclusive Charging-as-a-Service (CaaS) offerings for our commercial vehicle customers.”

In addition to his executive leadership roles, Jack is active in both community and industry organizations, holding Board of Directors positions with the NAFA Fleet Management Association, the General Motors EV Vision Advisory Board, WEX and Build Edison as the Mobility & Fleet Advisor since 2018. Jack holds a degree in Mechanical Engineering from Polytechnic/NYU, an MBA from Columbia University and was named Automotive Fleet Magazine’s “Fleet Executive of the Year” in 2019.

“Joining the Lightning eMotors Board feels like a culmination of my almost 30 years in this profession. I’m excited to work with Robert, Tim and other board members to further advance their values, vision and commitment to delivering the highest quality electric commercial vehicles, service and charging solutions available,” Jack said. “Fleets today are challenged to both select and deploy EVs that meet their operational needs, as well as to ensure access to charging infrastructure. I spend much of my day thinking about this issue in my role at Verizon and I look forward to working with Lightning eMotors in its position as an industry leader as we collectively work towards answering those compelling questions.”

Lightning eMotors, (NYSE: ZEV) has been providing specialized and sustainable fleet solutions since 2009, deploying complete zero-emission-vehicle (ZEV) solutions for commercial fleets since 2018 – including Class 3 cargo and passenger vans, Class 4 and 5 cargo vans and shuttle buses, Class 4 Type A school buses, Class 6 work trucks, Class 7 city buses, and Class A motor coaches. The Lightning eMotors’ team designs, engineers, customizes, and manufactures zero-emission vehicles to support the wide array of fleet customer needs including school buses and ambulances, with a full suite of control software, telematics, analytics, and charging solutions to simplify the buying and ownership experience and maximize uptime and energy efficiency. Lightning eMotors also offers charging technologies and “charging as a service” (CaaS) to commercial and government fleets via its Lightning Energy division. To learn more, visit https://lightningemotors.com.

Lightning eMotors Media Relations Contact:
Nick Bettis
(800) 223-0740
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Lightning eMotors’ Investor Relations Contact:
Nick Bettis
(800) 223-0740
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