Offers are for 23 Series of Notes Issued by Chevron and Certain of its Subsidiaries

SAN RAMON, Calif.--(BUSINESS WIRE)--This news release corrects a prior version published on October 4, 2021 at 9:00 a.m. (Eastern time) and is updated to revise the fixed spread figures of the series of notes listed as Acceptance Priority Level #19, #20 and #23 in the chart. The corrected news release is set forth below.

CHEVRON ANNOUNCES $2 BILLION NOTE TENDER OFFERS

Offers are for 23 Series of Notes Issued by Chevron and Certain of its Subsidiaries

Chevron Corporation (“Chevron”, NYSE: CVX) today announced the commencement of 23 separate offers (the “Offers”) to purchase for cash up to $2.0 billion aggregate principal amount of outstanding notes of the series listed in the table below (collectively, the “Notes”). Subject to the Maximum Purchase Condition (as defined below), the series of Notes that are purchased in the Offers will be based on the acceptance priority levels (each, an “Acceptance Priority Level”) set forth in the table below. If a given series of Notes is accepted for purchase pursuant to the Offers, all Notes of that series that are validly tendered will be accepted for purchase. No series of Notes will be subject to proration pursuant to the Offers.

The Offers are made upon the terms and subject to the conditions set forth in the Offer to Purchase dated October 4, 2021 relating to the Notes (the “Offer to Purchase”) and the accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery”) and, as applicable, the letter of transmittal (the “Letter of Transmittal” and, together with the Offer to Purchase and Notice of Guaranteed Delivery, the “Tender Offer Documents”). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.

The Offers will each expire at 5:00 p.m. (Eastern time) on October 8, 2021, unless extended or earlier terminated (such date and time with respect to an Offer, as the same may be extended with respect to such Offer, the “Expiration Date”). Notes may be validly withdrawn at any time at or prior to 5:00 p.m. (Eastern time) on the Expiration Date (such date and time with respect to an Offer, as the same may be extended with respect to such Offer, the “Withdrawal Date”), but not thereafter, unless extended by Chevron.

For Holders who deliver a Notice of Guaranteed Delivery and all other required documentation at or prior to the Expiration Date, upon the terms and subject to the conditions set forth in the Tender Offer Documents, the deadline to validly tender Notes using the Guaranteed Delivery Procedures will be the second business day after the Expiration Date and is expected to be 5:00 p.m. (Eastern time) on October 13, 2021 (the “Guaranteed Delivery Date”).

The Initial Settlement Date will be the first business day after the Expiration Date and is expected to be October 12, 2021. The Guaranteed Delivery Settlement Date will be the first business day after the Guaranteed Delivery Date and is expected to be October 14, 2021. Each of the Initial Settlement Date and the Guaranteed Delivery Settlement Date is herein referred to as a “Settlement Date.”

Upon the terms and subject to the conditions set forth in the Offer to Purchase, Holders whose Notes are accepted for purchase in the Offers will receive the applicable Total Consideration for each $1,000 principal amount of such Notes in cash on the applicable Settlement Date. Promptly after 2:00 p.m. (Eastern time) on October 8, 2021, the Price Determination Date, unless extended with respect to any Offer, Chevron will issue a press release specifying, among other things, the Total Consideration for each series of Notes validly tendered and accepted.

In addition to the applicable Total Consideration, Holders whose Notes are accepted for purchase will receive a cash payment equal to the accrued and unpaid interest on such Notes from and including the immediately preceding interest payment date for such Notes to, but excluding, the Initial Settlement Date (the “Accrued Coupon Payment”). Interest will cease to accrue on the Initial Settlement Date for all Notes accepted in the Offers and Holders whose Notes are tendered pursuant to the Guaranteed Delivery Procedures and are accepted for purchase will not receive payment in respect of any interest for the period from and including the Initial Settlement Date.

The Company’s obligation to complete an Offer with respect to a particular series of Notes validly tendered is conditioned on the satisfaction of conditions described in the Offer to Purchase, including that the aggregate principal amount purchased for the Offers (the “Aggregate Purchase Amount”) not exceed $2,000,000,000 (the “Maximum Purchase Amount”), and on the Maximum Purchase Amount being sufficient to include the aggregate principal amount of all validly tendered Notes of such series (after accounting for all validly tendered Notes that have a higher Acceptance Priority Level) (the “Maximum Purchase Condition”). Chevron reserves the right, but is under no obligation, to increase or waive the Maximum Purchase Amount, in its sole discretion subject to applicable law, with or without extending the Withdrawal Date. No assurance can be given that Chevron will increase or waive the Maximum Purchase Amount. If Holders tender more Notes in the Offers than they expect to be accepted for purchase based on the Maximum Purchase Amount and Chevron subsequently accepts more than such Holders expected of such Notes tendered as a result of an increase of the Maximum Purchase Amount, such Holders may not be able to withdraw any of their previously tendered Notes. Accordingly, Holders should not tender any Notes that they do not wish to be accepted for purchase.

If the Maximum Purchase Condition is not satisfied with respect to each series of Notes, for (i) a series of Notes (the “First Non-Covered Notes”) for which the Maximum Purchase Amount is less than the sum of (x) the Aggregate Purchase Amount for all validly tendered First Non-Covered Notes and (y) the Aggregate Purchase Amount for all validly tendered Notes of all series having a higher Acceptance Priority Level as set forth in the table above (with 1 being the highest Acceptance Priority Level and 23 being the lowest Acceptance Priority Level) than the First Non-Covered Notes, and (ii) all series of Notes with an Acceptance Priority Level lower than the First Non-Covered Notes (together with the First Non-Covered Notes, the “Non- Covered Notes”), then Chevron may, at any time on or prior to the Expiration Time:

(a) terminate an Offer with respect to one or more series of Non-Covered Notes for which the Maximum Purchase Condition has not been satisfied, and promptly return all validly tendered Notes of such series, and any other series of Non-Covered Notes, to the respective tendering Holders; or

(b) waive the Maximum Purchase Condition with respect to one or more series of Non-Covered Notes and accept all Notes of such series, and of any series of Notes having a higher Acceptance Priority Level, validly tendered; or

(c) if there is any series of Non-Covered Notes with a lower Acceptance Priority Level than the First Non-Covered Notes for which:

(i) the Aggregate Purchase Amount necessary to purchase all validly tendered Notes of such series, plus

(ii) the Aggregate Purchase Amount necessary to purchase all validly tendered Notes of all series having a higher Acceptance Priority Level than such series of Notes, other than any series of Non-Covered Notes that has or have not also been accepted as contemplated by this clause (c), is equal to, or less than, the Maximum Purchase Amount, accept all validly tendered Notes of all such series having a lower Acceptance Priority Level, until there is no series of Notes with a higher or lower Acceptance Priority Level to be considered for purchase for which the conditions set forth above are met.

It is possible that a series of Notes with a particular Acceptance Priority Level will fail the meet the conditions set forth above and therefore will not be accepted for purchase even if one or more series with a higher or lower Acceptance Priority Level are accepted for purchase.

For purposes of determining whether the Maximum Purchase Condition is satisfied, Chevron will assume that all Notes tendered pursuant to the Guaranteed Delivery Procedures will be duly delivered at or prior to the Guaranteed Delivery Time and Chevron will not subsequently adjust the acceptance of the Notes in accordance with the Acceptance Priority Levels if any such Notes are not so delivered. Chevron reserves the right, subject to applicable law, to waive the Maximum Purchase Condition with respect to any Offer.

The tender offers are subject to the satisfaction of these conditions and certain other conditions. Chevron reserves the right, subject to applicable law, to waive any and all conditions to any Offer. If any of the conditions is not satisfied, Chevron is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered notes, in each event subject to applicable laws, and may terminate or alter any or all of the tender offers. The tender offers are not conditioned on the tender of a minimum principal amount of notes.

Chevron has retained J.P. Morgan Securities LLC and Barclays Capital Inc. to act as the lead dealer managers for the Offers and BNP Paribas Securities Corp., Standard Chartered Bank, and SG Americas Securities, LLC to act as co-dealer managers of the Offers. Questions regarding the terms and conditions for the Offers should be directed to J.P. Morgan at (866) 834-4666 (toll-free) or (212) 834-3424 (collect) or Barclays at (800) 438-3242 (toll-free) or (212) 528-7581 (collect).

D.F. King & Co, Inc. will act as the Tender Agent and the Information Agent for the Offers. Questions or requests for assistance related to the Offers or for additional copies of the Offer to Purchase may be directed to D.F. King & Co, Inc. at (866) 796-7184 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers. The Tender Offer Documents can be accessed at the following link: http://www.dfking.com/chevron.

If Chevron terminates any Offer with respect to one or more series of Notes, it will give prompt notice to the Tender Agent and Information Agent, and all Notes tendered pursuant to such terminated Offer will be returned promptly to the tendering Holders thereof. With effect from such termination, any Notes blocked in the Depositary Trust Company (DTC) will be released.

Holders are advised to check with any bank, securities broker or other intermediary through which they hold Notes as to when such intermediary would need to receive instructions from a beneficial owner in order for that Holder to be able to participate in, or withdraw their instruction to participate in the Offers before the deadlines specified herein and in the Offer to Purchase. The deadlines set by any such intermediary and

DTC for the submission and withdrawal of tender instructions will also be earlier than the relevant deadlines specified herein and in the Offer to Purchase.

GENERAL

This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to sell any Notes or any other securities of the Company or any of its subsidiaries. The Offers are being made solely pursuant to the Offer to Purchase. The Offers are not being made to Holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to have been made on behalf of the Company by the Dealer Managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

No action has been or will be taken in any jurisdiction that would permit the possession, circulation or distribution of either this announcement, the Offer to Purchase or any material relating to us or the Notes in any jurisdiction where action for that purpose is required. Accordingly, neither this announcement, the Offer to Purchase nor any other offering material or advertisements in connection with the Offers may be distributed or published, in or from any such country or jurisdiction, except in compliance with any applicable rules or regulations of any such country or jurisdiction.

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower carbon future, we are focused on lowering the carbon intensity in our operations and growing our lower carbon businesses. More information about Chevron is available at www.chevron.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements that are based on management's current expectations, estimates and projections. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential, ” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results and future prospects or that could cause events or circumstances to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries (OPEC) and other producing countries; public health crises, such as pandemics) and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which we operate; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; our ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of our suppliers, vendors, partners and equity affiliates; the inability or failure of our joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of our operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond our control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; our future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; our ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company’s 2020 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission.

Sean Comey +1-925-842-5509

LONDON--(BUSINESS WIRE)--#ORM--The global operational risk management (ORM) software applications market will grow from $1.5 billion in 2020, at a CAGR of 9%, to $2.6 billion in 2026 according to a new study from independent research firm Verdantix. Verdantix research finds that the post-COVID-19 ORM software market is driven by maturation of the market, rise in remote operations, pandemic driven growth in digitization to support lean operations, real-time risk management enablement, and safe operations rising to the top of executive priority lists. Vendors positioned to benefit from this growth include ORM software providers such as AdaptIT, CONFORMiT, Enablon, Go-Arc, MODS Management, NiSoft, RiskPoynt, SAP, Sphera, Tenforce and Yokowaga RAP.

“As expected, the COVID-19 pandemic significantly slowed the ORM software market’s nominal growth rate throughout 2020, but it proved fairly resilient,” commented Malavika Tohani, Research Director, Operational Excellence. “To maximize growth, ORM software providers must broaden their offerings to cover process safety management (PSM), have an open architecture to support greater integrations with industrial systems and incorporate digital twins to visually communicate risk.”

The Verdantix report, Market Size And Forecast: Operational Risk Management Software Applications 2020-2026 (Global), provides executives at ORM software providers, systems integrators and financial investors with the information they need to inform business planning and strategy. The model breaks down the market size and forecast trends across 16 industry segments specified by asset class and 10 economic regions. Oil and gas industries accounted for over one-third (34%) of ORM software spend in 2020, followed by manufacturing (25%) and power distribution and generation (18%). The ORM software market is forecast to experience the highest growth in spend from South Asia and China growing at a double-digit CAGR from 2020 to 2026 and will witness increased uptake amongst all industries, with the fastest growth in chemicals.

“The market is set for strong growth between 2021 and 2026,” commented Hugo Fuller, Verdantix Analyst. “To exploit the attractive market opportunity, ORM software suppliers need to expand their offerings to provide an integrated solution for PSM, incorporate digital twins to collate risks into a single source and communicate them visually, and have an open architecture to support easy integration with external systems.”

Isobel Calisse
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MONTREAL--(BUSINESS WIRE)--Rio Tinto has reached a new Collective Labour Agreement for its BC Works operation, which includes the Kitimat smelter and Kemano hydropower facility in British Columbia, following a vote by Unifor Local 2301 members.

In addition to the Collective Labour Agreement, the parties have agreed on a Memorandum of Understanding for a new way of working together and on a return to work protocol. The agreements outline a shared vision for a safe, engaged, strong and competitive business that will benefit employees, communities, the environment, and stakeholders.

Rio Tinto BC Works General Manager Affonso Bizon said: “We welcome this vote from employees in support of the new agreement and our shared vision of a strong, sustainable future for BC Works. Our focus will now be on ensuring the return of workers and ramp-up of production at the smelter is managed in a safe and controlled manner over coming months, to deliver lasting benefits for our employees, the broader community and our customers.”

Over the next few days, Rio Tinto BC Works management will initiate the return to work process for employees, followed by the progressive restart of the smelter’s production cells.

Please direct all enquiries to This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Relations, UK
Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas
Matthew Klar
T +1 514 608 4429

Media Relations, Australia
Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

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M +61 436 653 412

Investor Relations, UK
Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia
Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: BC Works

Implemented upgrades will enhance occupant and correctional staff safety while saving the county $560,000 annually

FRAMINGHAM, Mass. & WELLS COUNTY, Ind.--(BUSINESS WIRE)--#cleanenergy--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced its partnership with Wells County, Indiana on a comprehensive jail facility renovation and modernization project. Ameresco’s selection as project partner follows a competitive bidding process and the rollout of a comprehensive audit of Wells County’s jail facility.

The audit highlighted several improvement areas for the county jail, including needed upgrades to its mechanical, electrical and plumbing infrastructure, as well as a solution to the facility’s inmate containment issues. To address these issues, Ameresco will replace the jail’s existing HVAC units, update its lighting with LED retrofits both inside and outside, redesign its parking lot, upgrade its controls system and remodel and build a new facility addition.

Implemented improvements will enhance occupant and correctional staff safety while also saving the facility $560,000 annually. The renovations will also allow the facility to double its intake area to effectively contain inmates who may have infectious diseases, creating a safer environment for all who occupy and work at the facility.

“The jail is now 35 years old and some of the original HVAC equipment is in need of replacement. In addition, the jail operations needs have changed as we now house Level 6 inmates who may require mental health and substance abuse counseling as well as other educational programs,” said Wells County Sheriff Scott Holliday. “We need to adapt to these requirements, make changes to address the Covid-19 pandemic concerns and create a safe working environment for our corrections staff.”

“We are so honored to lead this comprehensive renovation project for Wells County. Our slated improvements will not only enhance the facility’s energy efficiency but will also foster a safer environment for occupants and staff,” said Lou Maltezos, executive vice president, Ameresco. “Covid-19 has highlighted the need for improved infrastructure upgrades throughout this country, and we commend Wells County’s vision and commitment to maintaining sustainable facilities and operating practices.”

Project construction will begin in October 2021 and is expected to reach completion by October of 2022.

To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported awarded backlog as of June 30, 2021.

Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.

VANCOUVER, British Columbia--(BUSINESS WIRE)--$LPEN--Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell solutions, today announced that Mr. Darren Ready has resigned as the Company’s Chief Financial Officer effective November 30, 2021 to pursue other opportunities. As announced previously, the role of Corporate Secretary was transferred from Mr. Ready to Ms. Wendy Bach on September 13.

"Darren has been an invaluable member of the senior leadership team over the last several years. His entrepreneurial drive has been instrumental in helping the company get to this point and I am confident that this will continue to serve him well in his future endeavors. The board and entire senior management team thank him for his contribution and wish him all the best," said Ben Nyland, Chief Executive Officer. "We have commenced a formal search process and we are confident we will be able to onboard a new CFO in the near future who will bring financial leadership and public company experience to successfully help navigate our next stages of growth.”

“Since joining the company, it's been my goal to help position the company for the next phase of its business plan and utilize its patented eFlow technology in the heavy-duty motive markets,” said Darren Ready. “I am proud of what we have achieved to date and I am excited to watch the company as it continues to grow in this exciting energy transition market.”

About Loop Energy Inc.

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

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

Loop Energy Media Contact:
Ethan Hugh, Marketing Director, Loop Energy Inc.
Tel: +1.604.222.3400 x 304
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Virtual Event Featuring Industry Experts and Government Officials to Take Place on Wednesday, October 6, 2021, from 1:00 to 3:00 PM EST (Full Agenda)

REGISTER NOW

TORONTO--(BUSINESS WIRE)--Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or “the Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced it will be hosting its inaugural Battery Recycling Day.

Li-Cycle’s Battery Recycling Day will bring major players in the battery recycling industry and government representatives together to discuss issues pertinent to the industry’s future. The event will take a deep dive into the role battery recycling plays in the electric vehicle revolution and the United Nations’ goal of achieving zero-carbon emissions by 2050.

Registration Link
Registration is available via the following link:

REGISTER NOW

Agenda and Featured Participants

Li-Cycle – Battery Recycling Day
Wednesday, October 6^th, 2021
1:00-3:00 PM EST

1:00-1:05 PM
Welcome by Li-Cycle’s Co-Founders

• Ajay Kochhar, President and CEO, Co-Founder, Li-Cycle
• Tim Johnston, Executive Chairman, Co-Founder, Li-Cycle

1:05-1:10 PM
Video Presentation

1:10-1:25 PM
Recycling Batteries in the Transportation Sector

• Host – Kunal Phalpher, Chief Commercial Officer (CCO), Li-Cycle
• Guest panelists:
  • General Motors (GM) – Pablo Valencia Jr., Senior Manager
  • Arrival – Richard Colley, Public Policy and Regulatory Affairs

1:25-1:30 PM
Video Presentation

1:30-1:45 PM
Sustainable Raw Materials: Supply and Demand of Critical Materials

• Host – Ajay Kochhar, President and CEO, Co-Founder, Li-Cycle
• Guest panelists:
  • Traxys – Landon Berns, Trader, Battery Raw Materials
  • Benchmark Mineral Intelligence (BMI) – Andrew Miller, Product Director

1:45-1:50 PM
Video Presentation

1:50-2:05 PM
Next Generation Batteries: Solid State Batteries and Recyclability

• Host – Tim Johnston, Executive Chairman, Co-Founder, Li-Cycle
• Guest panelists:
  • SES – Rohit Makharia, President and Chief Operating Officer (COO)
  • Li-Metal – Dean Frankel, Chief Commercial Officer

2:05-2:10 PM
Video Presentation

2:10-2:25 PM
Environmental and Community Impact

• Host – Chris Biederman, Chief Technical Officer (CTO), Li-Cycle
• Guest panelists:
  • Town of Greece Supervisor – Bill Reilich
  • New York State Senator – Jeremy Cooney

2:25-2:30 PM
Vote of thanks

2:30-3:00 PM
Live Q&A

About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.

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WEST ALLIS, Wis.--(BUSINESS WIRE)--Toshiba America Energy Systems Corporation (“TAES”), an affiliate of Toshiba Energy Systems & Solutions Corporation (“Toshiba ESS”), today completed its acquisition of the EtaPRO^® business from GP Strategies Corporation (NYSE: GPX), a global provider of workforce transformation solutions. The acquisition was originally announced in May 2021.

A long-time partner of GP Strategies, Toshiba ESS deploys EtaPRO^® technology to many of its power generation customers. This acquisition will enhance Toshiba’s current global servicing and maintenance solutions for turbines and equipment across multiple platforms. TAES will integrate EtaPRO^® employees into its operations and will continue operating existing EtaPRO^® office locations, retaining EtaPRO^®’s valuable talent and culture. Toshiba is now in Phase 2 of its strategic "Toshiba Next Plan," which emphasizes strong growth through infrastructure service offerings.

“This acquisition enables Toshiba ESS to more efficiently meet the needs of customers with EtaPRO^®’s digital technologies,” said Takao Konishi, Director, President and CEO at Toshiba ESS. “These technologies have always enabled our customers to enhance power generation operations with EtaPRO^®’s unique digital solutions, and this acquisition only expands those possibilities.”

“Toshiba’s acquisition of EtaPRO^® will allow this technology to reach its full potential with a global reach and new functional possibilities,” said Richard DesJardins, former GP Strategies Senior Vice President and newly appointed Chief Operating Officer at TAES’s EtaPRO LLC subsidiary. “On behalf of the greater Toshiba family, we are excited to welcome the talented EtaPRO team to Toshiba,” said Koichi Kitaguchi, President and CEO of EtaPRO LLC. “We greatly value their unique industry experience and specialized knowledge.”

“We believe that this acquisition will be a strategically positive deal for both Toshiba and GP Strategies,” GP Strategies’ CEO Adam Stedham said. “We look forward to seeing how the EtaPRO^® business flourishes with its integration into the Toshiba portfolio.”

Outline of new company
Name: EtaPRO LLC
Address (Headquarters): 25 Northpointe, Suite 100, Amherst, New York, 14228, US
Representative: Koichi Kitaguchi (Director, President and CEO)
Business: General business operations of EtaPRO^® (Development and Sales)
Established: September 2021

Stock Ratio: Toshiba Group 100%

Number of Employees：Approximately 60

www.etapro.com

About Toshiba America Energy Systems Corporation
Toshiba America Energy Systems Corporation (TAES), headquartered in West Allis, Wisconsin, with a large manufacturing and service shop, provides turbine/generator equipment and services for the energy industry, including thermal, geothermal, hydropower and nuclear power plants, large-scale battery and hydrogen systems, and superconducting magnet and Toshiba Heavy ion therapy systems. TAES is an affiliate of Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) and represents Toshiba ESS in the Americas, TAES is proud to provide high-quality, reliable and cost-effective products and services that address current and future power generation, cancer treatment and advanced technological needs. For more information please visit http://www.toshiba.com/taes.

About Toshiba Energy Systems & Solutions Corporation
Toshiba Energy Systems & Solutions Corporation is a leading supplier of integrated energy and medical solutions. With its long experience and expertise in a wide range of power generation and, transmission systems and energy management technology, the company delivers innovative, reliable and efficient energy solutions across the globe. Split off from Toshiba Corporation (TOKYO: 6502) in October 2017.
https://www.toshiba-energy.com/en/index.htm

About GP Strategies
GP Strategies Corporation (NYSE: GPX) is a global workforce transformation provider of organizational and technical performance solutions. GP Strategies' solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting, and business improvement services customized to meet the specific needs of its clients. Clients include Fortune 500 companies, automotive, financial services, technology, aerospace and defense industries, and other commercial and government customers. Additional information can be found at gpstrategies.com.

About EtaPRO
EtaPRO^® is a real-time digital platform for improving the efficiency and reliability of power generating assets through empirical and physics-based digital twin technology combined with traditional vibration frequency analysis for detecting and diagnosing equipment deterioration or operating abnormalities in their earliest stages. EtaPRO is adapted to customer-specific requirements and is used by the global power industry on nearly 700 GW of generation in 40 countries, including thermal, geothermal, hydro, wind, and solar generating technologies.

Toshiba America Energy Systems Corporation
Eddie Temistokle
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GP Strategies
Nancy Williams, Vice President, Marketing
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Candice Hester, Vice President, Investor Relations
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Solution Will Manage Power for California Residential Demonstration Microgrid

FORT LEE, N.J.--(BUSINESS WIRE)--Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer Power" or the "Company"), a leader in the design and manufacturing of distributed generation and EV charging infrastructure as well as electrical distribution and on-site power generation equipment, today announced that its newly introduced E-Bloc integrated power center product will be utilized in Southern California Gas Company’s (“SoCalGas”) H2 Hydrogen Home prototype.

The one-time order is valued at approximately $500,000, and the Company expects it to be delivered in the fourth quarter of 2021.

SoCalGas’ H2 Hydrogen Home is a state-of-the-art demonstration project aimed at showing the role hydrogen could play in attaining California's goal of achieving carbon neutrality. Pioneer Power’s E-Bloc system is a packaged electrical infrastructure solution that will integrate and control the various distributed energy resources, including an H2 Fuel Cell, PV solar and energy storage, to form an islanded microgrid that can support the power needs of the prototype two-story model home, eliminating the need for connectivity to a public utility grid. Natural gas, water and sewer will be the only utilities connected to the home.

Nathan Mazurek, Pioneer Power's Chairman and Chief Executive Officer, said, “SoCalGas’ prototype hydrogen home is a first of its kind project that will demonstrate the once unimaginable possibilities of a fully- integrated, clean energy residential system that does not depend on electric power from a public utility grid. California is leading the way with its aspiration to be carbon neutral by 2045, and our participation in this highly visible project is an opportunity for us showcase the functionality of the E-Bloc integrated power center in a practical way. Beyond the H2 Hydrogen Home, we are actively engaged with a number of customers across a variety of industries, including big box retail, EV fleet charging and corporate enterprise customers that we believe will result in materially larger orders in the coming months.”

To learn more about Pioneer Power’s E-Bloc infrastructure solution, contact us at This email address is being protected from spambots. You need JavaScript enabled to view it..

About H2 Hydrogen Home

The H2 Hydrogen Home, which will be built this year in the city of Downey, is the first fully integrated demonstration project with solar panels, a battery and electrolyzer to create hydrogen for the fuel cell to supply electricity for the home. Hydrogen will also be blended with natural gas and used in the home's heat pump HVAC unit, water heater, clothes dryer and gas stove. The home will function and feel exactly like a regular home but use reliable and clean energy 24 hours a day, 7 days a week, 365 days a year.

To learn more about the H2 Hydrogen Home, visit here.

About Pioneer Power Solutions, Inc.

Pioneer Power Solutions, Inc. manufactures, sells and services a broad range of specialty electrical infrastructure and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company’s principal products include switchgear and engine-generator controls, complemented by a national field-service network to maintain and repair power generation assets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.

Safe Harbor Statement:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company’s ability to successfully increase its revenue and profit in the future, (ii) general economic conditions and their effect on demand for electrical equipment, (iii) the effects of fluctuations in the Company’s operating results, (iv) the fact that many of the Company’s competitors are better established and have significantly greater resources than the Company, (v) the Company’s dependence on a single customer for a large portion of its business, (vi) the potential loss or departure of key personnel, (vii) unanticipated increases in raw material prices or disruptions in supply, (viii) the Company’s ability to realize revenue reported in the Company’s backlog, (ix) future labor disputes, (x) changes in government regulations, (xi) the fact that the Company’s chairman, who controls a majority of the Company’s voting power, may develop interests that diverge from yours, (xii) the liquidity and trading volume of the Company’s common stock and (xiii) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event.

More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual and Quarterly Reports on Form 10-K and Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Brett Maas, Managing Partner
Hayden IR
(646) 536-7331
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New antifouling technology “Hydrophilic & Hydrophobic Nano domain structures” continuously expands a strong environmental impact for the industry reducing 7-8 % of the fuel energy saving

OSAKA, Japan--(BUSINESS WIRE)--At the latest major of the marine coatings market, the main type of antifouling paint is hydrolysis, and it exerts antifouling performance by dissolving hydrolysis resin and biocide into the ocean.
Under that situation, it has a possibility to be affected to dissolve hydrolysis resin and biocide excessively into the ocean by external factors, for instance, due to rising sea temperatures or ship speed etc. To resolve these issues, Nippon Paint Marine focused on the structure of the coating surface of the antifouling paint and strove to create “Hydrophilic & Hydrophobic Nano domain structures”.

“Hydrophilic & Hydrophobic Nano domain structures” has achieved a truly effective paint to set proper dry film thickness and it exerts excellent antifouling performance. It is made possible adding new mechanism to conventional technology to more precisely control the release of hydrolysis resin and antifouling ion into the ocean.

The nano domain structure is formed of both hydrophilic & hydrophobic domains laid out in molecular patterns and it enables antifouling diffusion and retention from the antifouling agent "biocide", and it shows excellent antifouling performance.

This product, already applied in trial to 10 vessels in 2020, has been launched in January 2021. It secured approximately 60 ships in 2021 improving the marine environment on an ESG perspective and saving a fuel consumption more effectively.

FASTAR realizes 7-8% fuel energy saving just by A/F
FASTAR XI and FASTAR XII incorporate pioneering water trapping hydrogel technology used in A-LF-Sea system as “biomimetic technology” that shows fuel saving effect, and the percentage of the fuel saving is to be about 7-8% in A/F only compared with current SPC AF. The application of dry dock will be greatly improved by coating drying time and procedure.
Especially during the winter, there is a possibility that the application process can be shortened approximately 37%. Also, it is possible to anchor for up to 45 days in seawater temperature of below 25°C.

Please contact free as below person in charge for FASTAR
NIPPON PAINT MARINE COATINGS CO., LTD.
Sales & Marketing Division Mr. Makoto Nakagawa / Mr. Shuhei Nishi
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TEL: +81-50-3142-1208

WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) today announced that it will issue a press release containing its third quarter 2021 financial results after the Nasdaq closes on Monday, November 1, 2021. On Tuesday, November 2, 2021 at 10:00 a.m. Eastern Time, Chief Executive Officer Jonathan Pertchik, President Barry Richards and Chief Financial Officer and Treasurer Peter Crage will host a conference call to discuss these results.

The conference call telephone number is (877) 329-4614. Participants calling from outside the United States and Canada should dial (412) 317-5437. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior to the scheduled start of the call. A replay of the conference call will be available through Tuesday, November 9, 2021. To hear the replay, dial (412) 317-0088. The replay pass code is 10160345.

A live audio webcast of the conference call will also be available in a listen-only mode on the company's website, which is located at www.ta-petro.com. Participants who want to access the webcast should visit the company's website about five minutes before the call. The archived webcast will be available for replay on the company's website after the call.

About TravelCenters of America Inc.:

TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 18,000 team members serve guests in 275 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.

Kristin Brown, Director, Investor Relations
(617) 796-8251

VAASA, Finland--(BUSINESS WIRE)--#AlternatyEnergy--With industry-leading rated power of 333 kW, the Ampner ACE^TM 300 string inverter family enables building flexible and reliable solar power plants and battery energy storages for environmentally extremely demanding conditions, such as heat, cold, high altitudes, and highly corrosive areas. The robust devices operate even at -40°C and provide a large variety of input options to facilitate the plant design. They also support bifacial and high-power modules for future proof operation of the photovoltaic power plants.

“For our customers the qualities of the ACE 300 and its high power density mean minimized downtime, lower Levelized Cost of Energy and higher energy yield. Because of its good fit for hybrid installations, the ACE 300 provides an efficient tool for the growing solar energy and energy storage market” says Mika Jantunen, Ampner CEO.

The IEC certified devices will be presented at the Intersolar 2021 exhibition in Munich on 6-8^th October and are ready for deliveries immediately. The products are designed and manufactured in Finland.

Company

Ampner Ltd. provides products and services for connecting renewable energy sources to the grid. The company designs and manufactures string inverters capable of operating in demanding conditions in photovoltaic power plants and battery energy storage systems globally.

Ampner also creates smart solutions for managing, testing and assuring the quality of a variety of renewable energy sources. The company designs, calculates and simulates electrical connections to the grid, whatever the energy source: wind, the sun, water or battery energy storage.

www.ampner.com

Additional information
Mr. Mika Jantunen, CEO
+358 40 165 7933
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Mr. Mika LongBusiness Unit Director, Solar PV and Energy Storage
+358 50 313 1793
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TAMPA, Fla.--(BUSINESS WIRE)--Overseas Shipholding Group, Inc. (NYSE: OSG) (“OSG”) a provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, today announced that it closed on a seven-year $325 million term loan credit facility with Stonebriar Commercial Finance (the “Term Loan Refinancing”). Proceeds were used to refinance and replace its existing term loan facility with The Prudential Insurance Company of America, as administrative agent, and certain other lenders, and an existing term loan with Wintrust Commercial Finance, as well as the partial refinancing of a term loan with Banc of America Leasing & Capital, LLC. The remaining proceeds, after transaction costs, will be used for general working capital purposes.

The performance of the borrowers’ obligations under the Term Loan Refinancing are guaranteed by OSG and certain other subsidiaries, and the loan contains customary representations and warranties and affirmative and negative covenants.

“We are very pleased to have completed this major refinancing that lengthens our maturity profile and provides a significant increase to the Company’s liquidity position,” noted Dick Trueblood, the Company’s Vice President and Chief Financial Officer. “OSG now has no scheduled debt maturities until September 2024. We would like to thank our existing lender Stonebriar who completed this transaction and has become our largest financial partner.”

Sam Norton, OSG’s President and CEO, commenting on the new loan facility, stated, “The series of transactions completed this week fulfill several key elements considered during the strategic review being conducted by the Company and its Board of Directors. Notably, several of OSG’s lending agreements have been consolidated under the new Term Loan Refinancing. Coordinated amendments to the remaining legacy debt agreements will result in covenant provisions being harmonized with the terms of the new facility. Looking forward through the end of 2022, available liquidity will be the principal financial compliance metric in all debt agreements. Available liquidity has been enhanced, as cash balances at the end of September were $85 million. In addition, cash required for debt service during 2022 will be reduced by approximately $10 million as compared to the requirements under our prior facilities. We believe the improving trajectory of our markets and the benefits of the completed transactions give OSG a solid platform to realize the full long-term potential of its unique and valuable operating franchise.”

Mr. Norton added, “Energy markets continue to provide evidence of strengthening demand and improving fundamentals. In line with these developments, OSG’s financial results have shown steady incremental progress as 2021 has progressed, including during the just completed third quarter. With two tankers having been activated in recent weeks and discussions with customers that indicate a likely increase in seasonal demand during the winter months ahead, we believe the recovery in our markets that we have been anticipating will become more evident as we move into the fourth quarter and new year.”

About Overseas Shipholding Group, Inc.

Overseas Shipholding Group, Inc. (NYSE: OSG) is a publicly traded company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG’s 22 vessel U.S. Flag fleet consists of three crude oil tankers doing business in Alaska, two conventional ATBs, two lightering ATBs, three shuttle tankers, ten MR tankers, and two non-Jones Act MR tankers that participate in the U.S. Maritime Security Program. OSG also currently owns and operates one Marshall Islands flagged MR tanker which trades internationally.

OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts should be considered forward-looking statements. Words such as “may”, “will”, “should”, “would”, “could”, “appears”, “believe”, “intends”, “expects”, “estimates”, “targeted”, “plans”, “anticipates”, “goal”, and similar expressions are intended to identify forward-looking statements but should not be considered as the only means by which these statements may be made. Such forward-looking statements represent the Company’s reasonable expectations with respect to future events or circumstances based on various factors and are subject to various risks, uncertainties, and assumptions relating to the Company’s operations, financial results, financial condition, business, prospects, growth strategy and liquidity. Accordingly, there are or will be important factors, many of which are beyond the control of the Company, that could cause the Company’s actual results or outcomes, or the timing of certain events, to differ materially from the expectations expressed or implied in these statements, including as a result of the uncertainty associated with being able to identify, evaluate and complete any strategic transaction or alternative, the impact of the announcement of the special transaction committee’s review of strategic alternatives, as well as any strategic transaction or alternative that may be pursued, on the Company’s business, including its financial and operating results and its employees. Undue reliance should not be placed on any forward-looking statements and, when reviewing any forward-looking statements, consideration should be given to factors including, but not limited to, those factors discussed in the Company’s Annual Report on Form 10-K, filed with the SEC on April 1, 2021, and those factors discussed in the Company’s Quarterly Report on Form 10-Q, filed with the SEC on May 7, 2021. Investors should carefully consider these risk factors and the additional risk factors outlined in other reports hereafter filed by the Company with the SEC under the caption “Risk Factors.” The Company assumes no obligation to update or revise any forward-looking statements except as may be required by law. Forward-looking statements in this press release and written and oral forward-looking statements attributable to the Company or its representatives after the date of this press release are qualified in their entirety by the cautionary statement contained in this paragraph and in other reports hereafter filed by the Company with the SEC.

Investor Relations & Media Contact:
Susan Allan, Overseas Shipholding Group, Inc.
(813) 209-0620
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BASINGSTOKE, England--(BUSINESS WIRE)--#energysavings--A new study from Juniper Research has found that global smart grid deployments will lead to annual energy savings of 1,060 terawatt-hours by 2026, from 316 terawatt-hours in 2021. This is the equivalent of powering over 42 million 90-minute football matches at Wembley stadium.

The research identified increased sustainability and energy security as critical to the appeal of smart grids, with analytics and demand-responsive networks able to have a dramatic impact in a renewables-heavy future. The report predicts vendors who can best combine analytics that deliver operational insights to energy companies, with low-cost sensors and connectivity, will achieve the greatest success.

For more insights, download the free whitepaper: Why Smart Grid is Critical to Energy Market Sustainability

Smart Grid Analytics Critical to Boosting Sustainability

The new research, Smart Grid: Industry Trends, Competitor Leaderboard and Market Forecasts 2021-2026, found that smart grid software, which analyses energy usage in real-time to enable responsive features for utility companies, will be critical to delivering energy and cost savings. The essential nature of these benefits will drive smart grid software spend to over $38 billion annually by 2026, from $12 billion in 2021; reflecting its dramatically increasing importance.

Research co-author Damla Sat explained: “To meet ambitious climate targets and lower spiralling operating costs for utility companies, the grid must evolve rapidly into a smart grid. Leveraging connectivity and deploying analytics at scale will be vital in achieving the truly demand-responsive grid that is needed today.”

Smart Metering Important to Smart Grid, but Deployments Uneven

The research found that smart metering roll-outs are growing, with global smart meters in service set to reach over 2 billion in 2026, from 1.1 billion in 2021. While this represents growth of just under 95%, adoption is very uneven worldwide, with markets including Latin America and Africa & Middle East lagging significantly behind the leaders in Western Europe and the Far East & China. The research recommends that vendors lobby governments urgently to support smart metering roll-outs, or they will rapidly fall further behind.

Smart Grid market research: https://www.juniperresearch.com/researchstore/key-vertical-markets/smart-grid-research-report

Whitepaper download: https://www.juniperresearch.com/whitepapers/why-smart-grid-is-critical-to-energy-market

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

Sam Smith
Press Relations
T: +44(0)1256 830002
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HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) announced today that it has closed its previously announced all stock transaction to acquire oil and gas assets in the Eagle Ford from an undisclosed seller. The aggregate purchase price for these assets was $33 million, subject to customary purchase price adjustments and a June 1, 2021 effective date. In accordance with the terms of the Purchase and Sale Agreement, the transaction consisted of approximately 1.5 million shares of SilverBow’s common stock.

MANAGEMENT COMMENTS

Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “We continue to execute on our key objectives, as exemplified by the successful closing of this acquisition. Namely, we are growing production and EBITDA while living within cash flow, expanding inventory, driving a peer-leading cost structure and further de-levering our balance sheet. We seek to build on this momentum as we close out the year.”

ABOUT SILVERBOW RESOURCES, INC.

SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the Eagle Ford Shale in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested. For more information, please visit www.sbow.com. Information on the Company’s website is not part of this release.

FORWARD-LOOKING STATEMENTS

This 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. These forward-looking statements represent management's expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, risks and uncertainties discussed in the Company’s reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this news release. You should not place undue reliance on these forward-looking statements.

Jeff Magids
Director of Finance & Investor Relations
(281) 874-2700, (888) 991-SBOW

Welcomes Fiona Reynolds, Global Leader in Responsible Investment

LONDON & SYDNEY & HOUSTON--(BUSINESS WIRE)--Quinbrook Infrastructure Partners (‘Quinbrook’), a specialist investor in renewables, storage and grid support infrastructure, today announced the appointment of Fiona Reynolds to its Advisory Board. Reynolds joins Mark Fulton, Dawn Turner and recent appointee Kurt Akers in helping guide Quinbrook’s strategies and impact initiatives in climate policy, ESG and responsible investment.

Fiona Reynolds is currently the CEO of the Principles for Responsible Investment (‘PRI’) in London and will join Quinbrook when she steps down from her current role later this year. Reynolds has led the PRI for the past nine years overseeing the network of signatories now exceeding 4,000 global institutions representing US$ 121 trillion in global assets¹. Reynolds is widely acknowledged for her outstanding work and global leadership in promoting investor action in responsible investing and ESG stewardship. Reynolds is a board member of UN Global Compact, Steering Committee – Climate Action IOO and the Investor Agenda, a member of the Global Advisory Council on Stranded Assets at Oxford University, and the Advisory Board for the Green Investment Principles for the Belt and Road. It’s the latest series of appointments for Fiona, including CEO at Sydney-based Conexus Financial, a member of a proposed new advisory board at Affirmative Investment Management, and independent Director of the Frontier Board.

Commenting on her appointment, Reynolds said she was delighted to join Quinbrook, a firm focused exclusively on investment in impactful infrastructure solutions that help resolve the climate emergency.

“Only a few weeks ago, the Intergovernmental Panel on Climate Change, released their new assessment of the climate science, in what the UN Secretary General called a ‘code red for humanity.’ Contained within the report are really three key messages for the investment community: 1. Human-induced climate change is in-disputable. 2. Climate change is affecting every region on our planet and therefore investments globally. And 3. Strong, rapid reductions in greenhouse gas emissions are needed to curb global warming,” commented Reynolds. “As we head to COP26 in Glasgow, we must move from commitment to action, with investors pro-actively changing the way they invest and this includes investing right now in climate solutions, the technology and energy solutions that will power the industry of tomorrow. Business as usual – investing as usual – is not going to get us to Net Zero and that is why I am delighted to be joining the Advisory Board of Quinbrook. In my life post PRI, I want to work with people who are making a real difference in the world.”

David Scaysbrook, Co-Founder and Managing Partner of Quinbrook, said, “Few other individuals have blazed the trail that Fiona has in placing responsible investment at the forefront of priorities for institutional investors the world over. She has been a true leader and her tireless efforts have been important and impactful. We are beyond excited to welcome Fiona to our board of senior advisors and know she will be highly influential in helping to shape Quinbrook’s future.”

About Quinbrook Infrastructure Partners

Quinbrook Infrastructure Partners (www.quinbrook.com) is a specialist investment manager focused exclusively on lower carbon and renewable energy infrastructure investment and operational asset management in the US, UK and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested over U.S.$8 billion of equity in energy infrastructure assets since the early 1990's, representing a total enterprise value of US$28.7 billion or 19.5 GW of power supply capacity. Quinbrook's investment and asset management team has offices in Houston, London, Jersey, and the Gold Coast of Australia. Quinbrook's global investment and portfolio company teams are actively developing and constructing a portfolio exceeding 18,000 MW of onshore wind, solar PV, reserve peaking power, battery storage projects, grid support infrastructure, Virtual Power Plants and Community Energy Networks across the US, UK and Australia.

________________

US/UK Media
Jennifer Pflieger
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+1 (212) 446 1866

Australian Media
Guy McKanna
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0430 355 985

Hyundai’s New Genesis GV60 Will Feature Wireless Charging

WATERTOWN, Mass.--(BUSINESS WIRE)--WiTricity, the pioneer in wireless charging, today announced that its patented technology is seeing its first availability as factory-installed equipment in a fully electric vehicle (BEV). Hyundai unveiled the Genesis GV60 in a series of videos and announcements featuring wireless charging. The Hyundai Motor Group previously demonstrated wireless charging technology at the 2018 Geneva Motor Show and has been a leader in moving the technology forward. The Genesis GV60 is the brand’s third SUV and first BEV. It will initially be available in South Korea.

“We’re thrilled to see our technology in a new luxury EV like the GV60,” said WiTricity CEO Alex Gruzen. “This is truly a watershed moment with Hyundai at the forefront of technology solutions that enable a better driving experience. We expect it won’t be long until all car manufacturers include wireless charging for their customers.”

In the future, in addition to simplicity and reliability, wireless charging also has the potential to provide Vehicle-to-Grid (V2G) power and dynamic charging to power vehicles in motion. And it will be indispensable for autonomous vehicles, providing the ability to refuel without human intervention.

About WiTricity

WiTricity is the global industry leader in wireless charging, powering a sustainable future of mobility that is electric and autonomous. WiTricity’s patented magnetic resonance technology is being incorporated into global automakers’ and Tier 1 suppliers’ EV roadmaps and is the foundation of major global standards developed to support wide-scale adoption. Advancements like dynamic charging of moving vehicles, and the charging of autonomous robots and vehicles without human intervention all depend on WiTricity technology. See how WiTricity enables a magically simple, efficient charging experience.

Allison Webster
V2 Communications
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Global EV Charging and Energy Management Provider Wallbox and Kensington Capital Acquisition Corp. II Complete Closing of Business Combination

BARCELONA, Spain & WESTBURY, N.Y.--(BUSINESS WIRE)--Wallbox, a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced it has completed its business combination with Kensington Capital Acquisition Corp. II (NYSE: KCAC), a special purpose acquisition company. The business combination was approved by Kensington stockholders in a special meeting held on September 30, 2021 and formally closed on October 1, 2021. Wallbox shares will start trading today on the NYSE under the ticker symbol "WBX” and warrants will trade under the ticker symbol “WBX.WS”.

Wallbox offers EV charging and energy management solutions for residential, semi-public and public use. The company’s product line-up includes Quasar, the world’s first DC bidirectional charger for home use; Supernova and Hypernova, DC fast and ultrafast chargers for public use; and a suite of AC charging solutions and smart energy management software. Ahead of budgeted expectations, Wallbox closed the first half of 2021 with more than 300% YoY revenue growth, propelled by its global expansion, an array of strategic alliances and steadily growing market tailwinds for EVs and charging infrastructure worldwide.

With nine offices across three continents and a presence in more than 80 countries, Wallbox has sold more than 200,000 charging units since its founding in 2015. One of the only truly global players in its industry, Wallbox operates a vertically integrated supply chain, managing its production internally. This has allowed Wallbox better gross margins over its peers in the EV charging market, and has enabled the company to sustain production despite COVID and global chip shortage-related supply challenges. The company currently manufactures its products in Europe and China, and recently announced the addition of a U.S. manufacturing facility in Arlington, Texas, which is slated to begin production in 2022.

"Entering the public markets was a natural next step for our company, as the demand for EV charging and energy management infrastructure is growing steadily around the world," said Enric Asunción, Co-Founder and Chief Executive Officer of Wallbox. "The transaction grants Wallbox the necessary resources to fund our continued global expansion and further advance the innovation of both existing and new solutions for private, public and corporate use. While this is a great milestone, our mission remains the same - accelerating the transition to greener energy consumption worldwide.”

The transaction will result in gross proceeds of approximately $252 million to Wallbox. Funds from the transaction are expected to support the company’s strategic growth initiatives, including accelerated expansion in the U.S. by increasing investment in the product development and certifications, while also maintaining its path to profitability.

"We take great pride in our focus on investing in automotive innovation, and we are thrilled to reach the completion of our business combination with Wallbox, which we feel has a truly unique value proposition, technology advantage, and steadily growing market traction across EV charging and energy management,” said Justin Mirro, Chairman and Chief Executive Officer of Kensington II. “As governments, consumers and businesses around the world continue to push for the widespread adoption of electric vehicles and more sustainable energy use, Wallbox is positioned to become a leading supplier of solutions to bring about the future of energy and transportation."

Hughes Hubbard & Reed LLP served as legal advisor to Kensington and Latham and Watkins LLP served as legal advisor to Wallbox. Houthoff and Loyens & Loeff advised Kensington and Wallbox, respectively, on matters of Dutch law and Cuatrecasas, Gonçalves Pereira, S.L.P. advised Kensington on matters of Spanish law. UBS Securities LLC, Stifel Nicolaus & Company, Incorporated and Robert W. Baird & Co. Incorporated served as financial advisors to Kensington and Barclays Capital Inc. and Drake Star Partners served as financial advisors to Wallbox. UBS Securities LLC and Barclays Capital Inc. served as joint placement agents on the PIPE offering.

About Wallbox

Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users' relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably.

Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 80 countries.

Founded in 2015 and headquartered in Barcelona, the company now employs over 700 people in its offices in Europe, Asia, and the Americas.

For additional information, please visit www.wallbox.com.

About Kensington

Kensington Capital Acquisition Corp. II (NYSE: KCAC) was a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with a business in the automotive and automotive-related sector. The company was sponsored by Kensington Capital Partners ("KCP") and the management team of Justin Mirro, Bob Remenar, Simon Boag and Dan Huber. The company was also supported by a board of independent directors including Tom LaSorda, Nicole Nason, Anders Pettersson, Mitch Quain, Don Runkle and Matt Simoncini. The Kensington team has completed over 70 automotive transactions and has over 300 years of combined experience leading some of the largest automotive companies in the world.

For additional information, please visit www.autospac.com.

Caution About Forward-Looking Statements

The information in this press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the benefits of the transaction and the combined company's future financial performance, as well as the combined company's strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words "are designed to," "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, Wallbox disclaims any duty to 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. Wallbox cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of either Kensington or Wallbox. In addition, Wallbox cautions you that the forward-looking statements contained herein are subject to the following uncertainties and risk factors that could affect Wallbox's future performance and cause results to differ from the forward-looking statements herein: Wallbox's ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of Wallbox to grow and manage growth profitably following the business combination; risks relating to the outcome and timing of the Company's development of its charging and energy management technology and related manufacturing processes; intense competition in the electric vehicle charging space; risks related to health pandemics, including the COVID-19 pandemic; the possibility that Wallbox may be adversely affected by other economic, business, and/or competitive factors; the possibility that the expected timeframe for, and other expectations regarding the development and performance of, Wallbox products will differ from current assumptions; the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination; the outcome of any legal proceedings that may be instituted against Kensington or Wallbox, the combined company or others following the announcement of the business combination; the inability to complete the business combination due to the failure to obtain approval of the shareholders of Kensington or to satisfy other conditions to closing; changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations; the ability to meet stock exchange listing standards following the consummation of the business combination; the risk that the business combination disrupts current plans and operations of Kensington or Wallbox as a result of the announcement and consummation of the business combination; and costs related to the business combination; changes in applicable laws or regulations. Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the proxy statement/prospectus of Wallbox N.V. in the registration statement on Form F-4 filed with the SEC. Kensington's and Wallbox N.V.'s SEC filings are available publicly on the SEC's website at www.sec.gov.

For Wallbox
Investors
ICR, Inc.
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Media
ICR, Inc.
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For Kensington
Dan Huber
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703-674-6514

Related Links:

www.wallbox.com
www.autospac.com

Terms of the definitive agreement reached on September 8, 2021 have been met

WILLISTON, Vt.--(BUSINESS WIRE)--$isun #cleanenergy--iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services, announced today that it has completed its acquisition of SunCommon, pursuant to the terms previously announced on September 8, 2021.

HIGHLIGHTS:

• Creates a regional full-service solar installation leader servicing the residential, commercial, industrial and utility-scale markets as well as the growing demand for the electric vehicle charging infrastructure.
• Positions combined company to effectively capitalize on emerging opportunities in the residential and small commercial landscape.
• Leverages brand and marketing expertise of SunCommon to effectively grow presence and message in new regional markets.
• Transaction consideration to SunCommon shareholders includes approximately $25,534,621 in cash and an aggregate of 1,810,915 shares of ISUN shares of Common Stock of iSun; provides for the future distribution of $2.5 million directly to SunCommon employees, expands eligibility under the Company’s Equity Incentive Plan to all iSun employees, and provides for $1.5 million working capital infusion into SunCommon, now a wholly owned subsidiary of iSun Residential, Inc.
• Anticipated to be accretive to earnings as a result of increased combined revenues and net income as of Q4 2021.
• Alignment of software, shared services and vendor base will enable synergies with expected $1.25 million in savings in year-1 and provide opportunities to reduce customer acquisition costs across all business segments.

The transaction executes phase one of iSun’s recently announced East Coast residential strategy and builds on iSun’s commercial, industrial and utility-scale presence in Maine, New Hampshire, Vermont, Connecticut, Massachusetts, Rhode Island, New York, Maryland, North Carolina and South Carolina. The acquisition furthers iSun’s ability to both drive the transition from dirty to clean energy and capitalize on the increasing focus on the climate crisis. The combined organization on a pro forma basis generated net revenues of approximately $51.4 and $70.0 million in calendar years 2020 and 2019, respectively. SunCommon’s anticipated positive EBITDA will enhance the Company’s overall EBTIDA. Management estimates year-1 SG&A synergies to be approximately $1.25 million related to integration of backend software and implementation of a shared services platform consisting of administrative related functions (finance, IT, software), while the differing revenue cycles of the two business will improve cash-flow.

“The electrification of everything – automobiles in particular - is going to rapidly accelerate energy demand across all sectors,” stated Jeffrey Peck, iSun Chairman and Chief Executive Officer. “With this acquisition, iSun is perfectly positioned (has the perfect partner) to address this opportunity across the residential sector with a partner who has built a scalable residential platform with best-in-class capabilities, industry leading customer acquisition cost of $0.36/Wdc, and most important – who shares our values. We’re excited to help enhance their capabilities as we progress to phase two of our residential strategy.”

Transaction Details.

Both iSun and SunCommon’s respective Boards of Directors unanimously approved the Definitive Agreement, which includes a cash payment of $25,534,621 and 1,810,915 shares of common stock (approximately $2.5 million of the consideration will be distributed to SunCommon employees), $1.5 million working capital infusion and additional earnout provisions, subject to customary purchase price adjustments and customary seller representations and warranties and indemnification obligations.

In 2020, SunCommon generated approximately $33.1 million in revenue with gross margins of approximately 30.2% and maintained customer acquisition costs well below those advertised by other residential solar market leaders.

Mr. Peck will serve as the CEO of the combined organizations, and Mr. Peterson and Mr. Moore will continue to serve as co-Presidents of SunCommon. The existing iSun Board of Directors will remain as currently established.

B. Riley Commercial Capital, LLC provided a $10 million secured loan to the Company, which allowed the Company to take advantage of its low debt to equity ratio and preserve shareholder value for the transaction.

Additional details of the transaction will be included with the Company’s Current Report on Form 8-K, which will be filed with the United States Securities and Exchange Commission, and will be available on the iSun website when filed.

About iSun Inc.

Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company has provided solar EPC services across residential, commercial & industrial, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.

About SunCommon.

SunCommon is a market-solution to climate change. Operating in New York's Hudson Valley and as the market-leading provider of residential, community and commercial solar in Vermont – SunCommon believes that everyone has the right to a healthy environment and brighter future – and renewable energy is where it starts. SunCommon is a Certified B Corp based on a rigorous third-party assessment of its commitment to the triple bottom line of people, planet and profit. SunCommon’s 200 employees are passionate about SunCommon’s values-led business and the positive environmental impact SunCommon has created and will continue to create. For more information, go to https://suncommon.com or connect with SunCommon on Facebook and Twitter @suncommon.

Forward Looking Statements

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

The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.

All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.

IR:
Tyler Barnes
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802-289-8141

LONDON--(BUSINESS WIRE)--#ClimateChangeRisk--Independent research firm Verdantix has released its global survey of senior executives responsible for ESG and sustainability to examine their firms’ governance, strategies and priorities relating to technology and services. The survey respondents – senior executives, holding SVP, VP and global head of functions roles, and directors and managerial professionals – reveal that firms are ramping up investments in ESG and sustainability, with 57% predicting double-digit spend increases in 2022, and are prioritizing funding initiatives relating to climate change and supply chain sustainability.

“Firms across the globe are grappling with the developing demands of ESG and sustainability and are scheduling huge investment into ESG initiatives in 2022,” commented Verdantix analyst and author of the report Connor Taylor. “Firms are being pushed to act by a developing regulatory landscape and stakeholder pressure that they can no longer avoid. ESG is now a priority for the C-suite.”

Key findings of the Verdantix ‘Global Corporate Survey: ESG And Sustainability Governance, Strategies And Priorities’ report:

• According to 43% of our survey participants, the pandemic was a tipping point for CEO attitudes towards ESG, with a further 26% stating that ESG was now a top three priority for CEOs.
• Climate change policy development has emerged as the most significant driver for increasing corporate engagement with sustainability issues in the last 12 months
• Executives are making improving supply chain sustainability metrics their number one priority over the next two years (25% of respondents), followed by analysis of climate change risk to physical assets (22%) and enhancing ESG scores with ratings agencies (19%).
• High priority digital projects to receive funding over the next two years include improving IT systems for environmental performance and metrics (51% of respondents) and improving IT systems for governance performance and metrics (49%).
• Survey respondents identified ESG data dispersity and complexity as the most significant barrier to improving ESG and sustainability data (31%), closely followed by lack of clarity on reporting standards (30%).

“Our study reveals that firms are anxiously awaiting to see how the ESG landscape evolves in the near future. Investment is already skyrocketing; changes in regulation could see spending increase astronomically,” Continued Taylor. “The ramifications this has for ESG solutions and services providers is substantial, and the question remains; who will best align their offerings to fit this developing market?”

Media Contact
Isobel Calisse
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1 in 4 Utility Executives Say Pandemic is Delaying Upgrades Yet Natural Disasters, Renewables and Electric Vehicles Demand Modern Infrastructure

LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#EVs--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, released its 2021 Resourcefulness Insight Report detailing why modernizing energy infrastructure is the path to achieving a resilient and reliable grid that successfully mitigates the impacts of climate disruption, minimizes interruptions from natural disasters, integrates renewables and prepares for the increased adoption of electric vehicles (EVs). Preparing for the Unexpected and the Inevitable: An Itron Resourcefulness Report summarizes key findings from surveys of 500 utility executives and 500 informed consumers from across five countries – United States, Australia, France, Germany and Indonesia – on the key challenges, barriers and concerns facing utilities in the next five years.

Launched today at Itron Inspire 2021, the company’s premier customer-focused event, the report dives deep into the differing opinions of consumers and utility executives related to resilience planning for an innovative, reliable grid. Across the surveyed countries, integrating renewables and modernizing aging grid infrastructure are the top two biggest challenges. The findings indicate that in the next five years utility execs surveyed see EV demands becoming the biggest challenge for the grid. Additional key findings in the report show:

• Consumers agree with the top priorities of integrating renewables and upgrading infrastructures. However, they are more concerned about natural disasters (20%) than EVs (16%).
• Utility executives are extremely/very concerned about the grid and the impact of disasters (88%), demand from EVs (85%), integrating renewables (86%) and complying with environmental mandates (90%).
• Consumers are less concerned than utility executives about the impact of disasters and EVs on the grid, however they are also less confident in how prepared utilities are to manage these situations with 84% of utilities stating they are ready vs. 47% of consumers.

“In looking at these results, there is agreement on the need for grid modernization, but utility executives and consumers have different concerns and priorities. We see that utilities are looking to the future to plan and prepare for what is coming, while consumers indicated more immediate concerns,” said Marina Donovan, vice president of global marketing and public affairs. “Consumers remain concerned about how climate disruption – and the resulting rise in natural disasters – are impacting their lives, yet they are less aware or even unaware of the impact of EVs and renewables on the grid.”

Across all five countries, the biggest challenges to the reliability and resiliency of the grid are upgrading aging infrastructure, integrating renewables and complying with carbon mandates, but these priorities change as executives look to the future:

According to the survey, the COVID-19 pandemic has delayed technology investments across all the countries. Yet, the technology is critical to create a more resilient infrastructure. The report notes that advanced metering infrastructure and distribution automation are high priorities for EVs, distributed energy resources (DER) deployments, and disaster response. And sensors are the highest priority technology for grid resiliency in the face of disasters.

“In America, the U.S. Senate passed a $1.2 trillion bipartisan infrastructure bill, which is currently being debated in the House of Representatives, that will be critical to driving grid modernization. Replacing aging electrical infrastructure is paramount to making the grid more resilient and reliable in the face of extreme weather conditions and climate disruption. This federal investment is needed to protect and prepare for disasters as well as sustainable growth,” added Donovan.

To download a full copy of the Itron Resourcefulness Insight Report, visit www.itron.com/resourceful. To listen to key sessions and keynotes at the virtual Itron Inspire Event, Oct. 4-6, please visit www.itron.com/inspire.

About Itron

Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.

Itron^® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners, and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
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