HOUSTON--(BUSINESS WIRE)--Sunnova Energy Corporation (“SEC”), a wholly owned subsidiary of Sunnova Energy International Inc. (“Sunnova”), today announced the pricing of $400 million aggregate principal amount of green 5.875% senior notes due 2026 (the “notes”) in a private placement to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”) and to non-U.S. persons outside of the United States in reliance on Regulation S of the Securities Act. The notes were priced at 98.76% of par. The offering size was increased from the previously announced offering size of $350 million aggregate principal amount of notes.

The notes will be senior unsecured obligations of SEC, and interest will be payable semiannually in arrears. The notes will be guaranteed on a senior unsecured basis by Sunnova and Sunnova Intermediate Holdings, LLC, a wholly owned subsidiary of SEC. The notes will bear interest from August 17, 2021 at an annual rate of 5.875% payable on March 1 and September 1 of each year, beginning on March 1, 2022. The notes will mature on September 1, 2026, and the offering is expected to close on August 17, 2021, subject to customary closing conditions.

SEC intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, existing or new eligible green projects, and pending such use, SEC will maintain or apply the net proceeds in accordance with its normal liquidity practices.

The notes and related guarantees have not been, nor will be, registered under the Securities Act or any state securities laws and, unless so registered, the notes may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

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

FORWARD LOOKING STATEMENTS

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

ABOUT SUNNOVA

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

Investor Relations:
Rodney McMahan, Vice President Investor Relations
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MEDIA CONTACT
Alina Eprimian, Media Relations Manager
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DUBLIN--(BUSINESS WIRE)--The "Global Biogas Upgrading Equipment Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.

The publisher has been monitoring the biogas upgrading equipment market and it is poised to grow by $1.25 billion during 2021-2025, progressing at a CAGR of almost 17% during the forecast period.

The report on biogas upgrading equipment market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the need for cleaner fuel and favorable government policies.

The biogas upgrading equipment market analysis include technology segment and geographic landscape. This study identifies the environment and energy security as one of the prime reasons driving the biogas upgrading equipment market growth during the next few years.

Companies Mentioned

• Acrona Projects Sarl
• Atlas Copco AB
• Carbotech Gas Systems GmbH
• Clean Energy Fuels Corp.
• DMT International
• Greenlane Renewables Inc.
• LAIR LIQUIDE SA
• Pentair Plc
• Terberg RosRoca Group
• Xebec Adsorption Inc.

The report on biogas upgrading equipment market covers the following areas:

• Biogas upgrading equipment market sizing
• Biogas upgrading equipment market forecast
• Biogas upgrading equipment market industry analysis

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Key Topics Covered:

1. Executive Summary

• Market overview

2. Market Landscape

• Market ecosystem
• Value chain analysis

3. Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

4. Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

5. Market Segmentation by Technology

• Market segments
• Comparison by Technology
• Water scrubber - Market size and forecast 2020-2025
• Chemical scrubber - Market size and forecast 2020-2025
• Pressure swing adsorption - Market size and forecast 2020-2025
• Others - Market size and forecast 2020-2025
• Market opportunity by Technology

6. Customer landscape

• Overview

7. Geographic Landscape

• Geographic segmentation
• Geographic comparison
• Europe - Market size and forecast 2020-2025
• North America - Market size and forecast 2020-2025
• APAC - Market size and forecast 2020-2025
• MEA - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity By Geographical Landscape
• Market drivers
• Market challenges
• Market trends

8. Vendor Landscape

• Overview
• Landscape disruption

9. Vendor Analysis

10. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/uuxqb9

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, today reported its second quarter 2021 financial results.

Key Business Highlights

• Hired Dennis M. Gallagher as Chief Operating Officer, an experienced industry executive, with a proven track record in the heavy-duty commercial vehicle space

• Announced a 300-unit Hypertruck ERX product reservation agreement from Detmar Logistics, an industry-leading oilfield logistics company

• Continued to execute on the Multi-Phase Product Development Program used to reach commercialization of the Hypertruck ERX powertrain

• Announced a longer-range all-electric configuration mode that will meet California’s Advanced Clean Truck Rule and qualify for ZEV sales credits

• Improved Hybrid product on track to launch in the latter part of 2021

• Strong balance sheet with sufficient liquidity available to fund current commercialization plans for Hybrid and Hypertruck ERX

Executive Commentary

Thomas Healy, Hyliion’s Founder and Chief Executive Officer, said, “After a strong start to the year, our team continues to execute effectively against the timelines for both Hybrid and Hypertruck ERX products. With the unveiling of our improved Hybrid powertrain and the debut of our Hypertruck ERX demo units both scheduled for the third quarter of 2021, we are at an exciting inflection point in Hyliion’s history.”

“As we make progress on the commercialization of our Hypertruck ERX, I am very pleased to announce the recent appointment of Dennis M. Gallagher as our Chief Operating Officer who will be responsible for all commercialization efforts within Hyliion. Dennis recently served as President of Jacobs Vehicle Systems, an industry-leading supplier to the heavy-duty commercial vehicle market. He brings over 20 years of tenure at Danaher, where he led various global business units and has a proven track record of commercial and operational excellence.”

“Beginning later this year, we plan to take Hypertruck ERX demonstration units on the road to showcase them with our Hypertruck Innovation Council members and other interested fleets. As fleets experience the benefits of our Hypertruck ERX firsthand, like improved driver experience, improved performance versus diesel, and the means to reduce operating costs while offering the ability to reduce carbon emissions more than any other alternative fuel option available now or in the works, we expect customer interest and excitement to continue to grow.”

Hypertruck ERX Commercialization Progress and Product Reservations

Hyliion remains on track with its Hypertruck ERX commercialization timeline, which involves showcasing demo trucks to fleets late in 2021, followed by evaluation and testing throughout 2022. The Hypertruck ERX is projected to be commercially available in late 2022 and followed by volume ramp up.

Hyliion recently announced a reservation for 300 Hypertruck ERX units from Detmar Logistics, a leading oilfield logistics company. An early adopter of electrification solutions in the industry, Detmar placed an initial order of 10 Hyliion Hybrid Electric units earlier this spring. The successful program and deployment met with positive feedback from Detmar’s operations team, drivers, and customers, and generated further interest in the Hypertruck ERX solution and a longer-term commercial relationship with Hyliion. The purchase and sale of the 300 Hypertruck ERX units is subject to the execution of a final agreement between Hyliion and Detmar.

Hypertruck ERX Long-Range Configuration Qualifies for CA’s ACT Rule

In late July, Hyliion announced a long-range variant of the Hypertruck ERX that will offer 75 miles of all-electric range. This new configuration will enable the production vehicle to qualify for zero-emission vehicle (ZEV) sales credits by meeting California’s Advanced Clean Truck (ACT) Rule. The ACT Rule, approved by the California Air Resources Board in June 2020, requires Class 8 truck tractor manufacturers to sell ZEVs in California. Truck manufacturers will be able to achieve up to a 75% ZEV sales credit by selling a Class 8 truck with the Hypertruck ERX electric powertrain. Taking a modular approach to the platform to meet OEM demand, address fleet needs and satisfy government mandates, the production Hypertruck ERX will be available in multiple configurations, including a reduced electric range model that will follow the release of the long-range version. Both configurations will offer over 1,000 miles of total range when using the onboard generator to recharge the battery pack.

Commercial Hybrid Launch

Hyliion is currently finalizing its improved Hybrid electric powertrain and is on track to launch during the latter part of 2021. This improved hybrid electric powertrain includes several enhancements to make the product more attractive to potential customers while also simplifying the installation process. After the launch of the improved Hybrid product, the company will begin to recognize revenue on the units.

Financial Highlights and Operating Expense Guidance

Hyliion ended the second quarter 2021 with $317.7 million in cash and cash equivalents on its balance sheet. Including short-term investments of $140.0 million and long-term investments of $159.7 million, Hyliion had over $617 million available to fund its current commercialization plans for its Hybrid and Hypertruck ERX powertrains.

While Hyliion expects to begin generating revenue from its improved Hybrid product after launch later this year, it does not expect the revenue generated in 2021 to be material.

Hyliion expects full year 2021 operating expenses to range between $130 million and $140 million, a reduction compared to previously disclosed guidance of approximately $140 million. This consists of SG&A and R&D expenses.

Second Quarter 2021 Conference Call

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

Conference Call Online Registration: http://www.directeventreg.com/registration/event/1449669

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

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

About Hyliion

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

Forward Looking Statements

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

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

$82M Transaction meaningfully enhances scale and growth prospects for Brightcore and its customers
Clean energy & efficiency as a service for commercial, industrial & institutional real estate owners
End-to-end solutions provide immediate customer savings and environmental benefits

ARMONK, N.Y.--(BUSINESS WIRE)--SER Capital Partners, LLC (“SER”), a sustainable investment focused private equity firm, has committed $82M to invest in and grow Brightcore Energy LLC (“Brightcore”), a clean energy & efficiency as a service company serving commercial, industrial, and institutional real estate owners. SER’s investment will significantly expand Brightcore’s balance sheet and its ability to implement, finance, invest in, and acquire a broad range of clean energy projects and solutions, thereby enabling its customers to reduce operating costs and mitigate their environmental footprint at no upfront expense.

“We’re excited to partner with a strong team that is led by Co-CEOs Rob Krugel, Konstantin Braun and President Mike Richter and that has already completed more than 150 clean energy and efficiency projects for its customers. Commercial, industrial, and municipal demand for clean energy and efficiency is growing exponentially. With SER as a partner, Brightcore now has an enhanced ability to provide competitive financing solutions for customers. We’re eager to see Brightcore accelerate deployment of its solar, LED lighting, HVAC (including geothermal), and other product offerings. Brightcore’s ability to implement and finance a holistic sustainability solution for its customers is highly differentiated and value-additive,” noted Rhem Wooten, Partner of SER.

Rob Krugel, Co-CEO of Brightcore, added: “We are excited to partner with SER, who brings significant experience in the efficiency and sustainability sectors and is fully aligned with our business and mission. This transaction positions us well to meet the significant customer demand for energy efficiency and distributed infrastructure projects at the state and local levels. With a significant balance sheet, combined with our intellectual capital and extensive experience, Brightcore is extremely well positioned to provide economic benefits for customers while decarbonizing their operations.”

Rahul Advani, Managing Partner of SER, commented: “We are excited to welcome Brightcore into SER’s portfolio of businesses. Our portfolio companies are leading the sustainable industrial revolution and reducing overall carbon emissions by installing solar, storage and energy efficiency projects where and when customers need them most. And we see a tremendous market need for Brightcore’s clean energy and efficiency services for customers.”

Metric Point Capital acted as the exclusive placement agent for the fundraise.

About Brightcore

Brightcore Energy is a provider of end-to-end clean energy solutions to the commercial and institutional market, including commercial and community solar, high-efficiency renewable heating and cooling (geothermal), LED lighting and controls, electric vehicle (EV) charging, battery storage, smart building solutions and other emerging technologies. Brightcore Energy accelerates the deployment of a wide range of energy-efficiency and renewable energy technologies through its innovative Efficiency-as-a-Service (EaaS) model that requires no capital investment and provides for immediate operating cost savings, making it affordable and seamless for businesses and institutional buildings to quickly and easily transition their legacy energy platforms to significantly more efficient ones. More is available at www.brightcoreenergy.com.

About SER Capital Partners

SER Capital Partners is an independent, middle-market private equity firm dedicated to investing in North America’s sustainable industrial, environmental, and renewable businesses. Over the past two decades, its team members have amassed successful experience in its targeted sectors as private equity investors and senior executives at both private and public businesses. The firm’s strategy is to create attractive investments while also authentically measuring and improving sustainability. SER team members are also committed to aligning interests across its investors, team members, portfolio companies, and communities. More is available at www.sercapitalpartners.com.

About Metric Point Capital (Member FINRA and SIPC)

Metric Point Capital (“Metric Point”) is a capital advisory firm specializing in raising institutional capital for alternative investment managers. Fund assignments include buyout, growth equity, real estate, and real asset strategies. Metric Point also advises on all aspects of liquidity needs across GP-led transactions, secondaries, directs, and co-investments. The firm has professionals located in New York, Stamford, Chicago, Los Angeles, and Austin.

Michele Lea, 845-545-2431
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DUBLIN--(BUSINESS WIRE)--The "Asia-Pacific Hydrographic Survey Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component and End User" report has been added to ResearchAndMarkets.com's offering.

The APAC hydrographic survey market is expected to grow from US$ 14.97 million in 2019 to US$ 25.13 million by 2027; it is estimated to grow at a CAGR of 6.8 % from 2020 to 2027.

The advancements in hydrographic survey software and services accelerate the market growth. Hydrographers play a key role in identifying the ocean environment and the production of nautical charts for navigation safety. In addition to the primary role of hydrography, the end users are increasingly seeking real-time data for the sustainable management of marine resources and protection of coastal infrastructure. They need hydrographic data to manage the challenges related to climate change and urbanization in coastal communities. Thus, hydrographic surveying and the roles of experts in this field are in experiencing a paradigm shift, and rise in the adoption of disruptive technologies, solutions, and techniques is likely to boost survey capacity and productivity, simultaneously mitigating the risks and costs involved.

The integration of advanced technologies such as artificial intelligence (AI), virtual reality (VR), and automated data collection is emerging as the next step in the further development of the hydrographic survey industry. AI, machine learning (ML), and forward-looking sonar (FLS) transform hydrographic data collection, processing, analysis, and presentation. The technology integration would enable the close-to-real-time transmission of hydrographic data to cloud in the coming years. Moreover, several methods of processing data using complex algorithms and AI are in the developing phase. The introduction of AI and ML capabilities would allow enterprises to shift from being product-centric to data-centric, which would enable enterprises to expand their product and service portfolios, thereby allowing them to ensure greater client satisfaction. Advanced technologies are swiftly gaining prominence in the marine, and oil & gas sectors, and the rising use of hydrographic survey software integrated with advanced technologies is emerging as a prominent trend in the APAC market.

Countries in APAC, especially India, are highly affected due to COVID-19 outbreak. APAC has a large number of developing countries, a positive economic outlook, high industrial presence, huge population, strong investments in industrial infrastructure, and population with rising disposable income. All these factors make APAC a major growth driving region for various markets, including hydrographic survey. The growing spending on the marine and oil & gas industries by the government in the region offer lucrative opportunities for the growth of the global hydrographic survey market. The ongoing COVID-19 outbreak caused huge disruptions in the growth of various industries in the region. Lockdown is disrupting the activities in various plants and factories, restricting the global supply chains, and negatively impacting the various products sales. In APAC, the governments of various countries have taken drastic measures to reduce the outbreak effects by announcing lockdowns, and travel and trade bans. The shutdown of various plants and halts in offshore projects disrupted various major projects in the region. All these measures hindered the growth of the hydrographic survey market in 2020, and it is likely to continue till Mid-2021.

Based on component, the APAC hydrographic survey market for the services segment is expected to grow faster during the forecast period. Services are the intangible assets of organizations, and they play a critical role in boosting their core competencies. Outsourcing certain tasks to various service providers enables end users to stay agile, drive innovations, and respond to market changes more effectively. The hydrographic survey services include training, deployment and integration, support, and maintenance service. The advantages of hydrographic survey services such as less cost, easy availability, presence of different types of services, and customizable according to the user are expected to increase its demand in coming years.

Market Dynamics

Drivers

• Burgeoning Number of Offshore Oil & Gas Projects
• Mounting Maritime Commerce and Transport

Restraints

• Insufficient Awareness in Underdeveloped Countries

Opportunities

• Rising Demand for Energy & Power Projects

Future Trends

• Advancements in Hydrographic Survey Software and Services

Companies Mentioned

• Esri
• HYPACK / Xylem Inc.
• IIC Technologies
• OceanWise Limited
• Quality Positioning Services B.V. (QPS)
• Teledyne Marine (Teledyne Technologies Incorporated)

For more information about this report visit https://www.researchandmarkets.com/r/17z13

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Grant program has provided more than $4.5 million to date for STEM education and research programs reaching 225,000 students nationwide

BALTIMORE--(BUSINESS WIRE)--#PoweringCommunities--Constellation, a leading energy and energy solutions provider, announced today it is now accepting applications for its 2021 E² Energy to Educate grant program, which provides funding for student projects focusing on energy innovation. Educators and students in grades 6-12 can apply for program grants up to $25,000, and two- and four-year colleges can apply for grants up to $50,000. The deadline for applications is Oct. 1, 2021.

This year, Constellation has refreshed its E² innovation themes (see below) to emphasize inspiring equity in the energy industry.

“We continually evolve and fine-tune our innovation themes with an eye on maintaining our core focus of hands-on STEM energy projects while committing to address elements that will shape the future of energy,” said Jorge Acevedo, senior vice president, Innovation and Strategy for Constellation. “While our focus on diversity, equity and inclusion is not new, this past year has shone a brighter light on socioeconomic and educational disparities, and to that end, we are specifically challenging our applicants to consider ways to extend their project opportunities to underserved groups, including communities of color.”

In 2020, Energy to Educate awarded more than $500,000 across 22 projects and reached more than 20,000 students nationwide. Projects included solar car competitions, fuel cell technology, energy storage, wind power, and teaching energy concepts via an interactive gaming platform. To date, the grant program has provided $4.5 million for research and education projects that have fueled the exploration into STEM fields for more than 225,000 students.

“In addition to being a creative way to engage students, our Virtual STEM Day also motivates, encourages and inspires young people to make a positive impact on our planet as future STEM leaders,” said Dr. Jamal Uddin, professor and director of the Center for Nanotechnology at Coppin State University in Maryland. “As an HBCU, we are proud of our legacy of serving diverse students, and through Constellation’s E² award, we have been able to further extend outreach and programming for STEM and energy projects to more students from diverse backgrounds.”

To be eligible for funding, a project must align with the following energy innovation themes. Project content must also be delivered virtually or through safe in-person settings:

• Equity in Energy: How can we engage underrepresented groups in the energy sector? How can we create pathways to STEM and energy careers for students of color, women, and other underrepresented groups? How can we best engage underrepresented customers? With intentionality, we can increase diverse perspectives and representation in energy careers and reach underserved communities with energy innovations.
• Sustainability as a Lifestyle: How will new technologies and artificial intelligence transform our home energy usage in the future? What will the future of transportation look like? How can our daily choices in transportation and in our home create a more sustainable future? New technologies can power us into a cleaner energy future via electrification and sustainable choices.
• Clean Energy & Zero Waste: Which energy sources and choices have the greatest current and future potential to mitigate against climate change? What if we could harness and store energy that would otherwise be wasted? How can businesses, schools, governments, and communities take action through policies and programs to move us toward a cleaner energy future? The sustainability movement is catching on in energy thanks to innovative technologies and growing advocacy.

Exelon companies, together with Constellation, contributed more than $58 million to nonprofits in 2020 supporting COVID relief efforts plus education, the environment, culture and arts, and community development.

Grant recipients are announced each year during American Education Week. To learn more about the program and application criteria, visit the Community Outreach section of www.constellation.com.

About Constellation

Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation's family of retail businesses serves approximately 2 million residential, public sector and business customers, including more than three-fourths of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with 2020 revenues of approximately $33 billion, and more than 30,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com or on Twitter at @ConstellationEG.

Dave Snyder
Constellation
410-470-9700
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DUBLIN--(BUSINESS WIRE)--The "Electric Ships - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Electric Ships estimated at US$6.3 Billion in the year 2020, is projected to reach a revised size of US$12 Billion by 2027, growing at a CAGR of 9.8% over the period 2020-2027.

Hybrid, one of the segments analyzed in the report, is projected to record 9.7% CAGR and reach US$9.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Fully Electric segment is readjusted to a revised 10.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.9 Billion, While China is Forecast to Grow at 9.2% CAGR

The Electric Ships market in the U.S. is estimated at US$1.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2027 trailing a CAGR of 9.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9% and 8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8% CAGR.

Select Competitors (Total 36 Featured):

• ABB
• Akasol AG
• Anglo Belgian Corporation (ABC) NV
• Bae Systems
• Corvus Energy
• Echandia Marine AB
• ECO Marine Power Co Ltd.
• EST Floattech
• General Dynamics Electric Boat
• General Electric (GE)
• Kongsberg Gruppen
• Leclanche SA
• Man Energy Solutions Se (Traton Group)
• Norwegian Electric Systems as (Havyard Group ASA)
• Saft (Total)
• Schottel GmbH
• Siemens
• Vard (Fincantieri)
• Visedo (Danfoss)
• Wartsila

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/wx9nip

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Global Survey of Dangerous Goods Professionals Reveals Organizations Not Equipped to Meet Future Needs, Require Better Training and Technology

CHICAGO--(BUSINESS WIRE)--#COVID--Labelmaster, the leading provider of products, services and technology for the safe and compliant transport of dangerous goods (DG) and hazardous materials (hazmat), today announced the results of its sixth annual 2021 Global Dangerous Goods Confidence Outlook. Sponsored by Labelmaster, International Air Transport Association (IATA) and Hazardous Cargo Bulletin, the survey of 465 DG pros from around the world examined how organizations managed the pandemic and the ability of their DG management operations to meet supply chain needs. The survey found the need for greater awareness among senior leadership and further investment in DG training and technology.

“The past year has put tremendous pressure on the global supply chain,” said Robert Finn, vice president, Labelmaster. “While the industry kept goods moving, several problematic areas came to light in organizations’ ability to keep dangerous goods (DG) safe and compliant moving forward, particularly related to greater organization awareness and the need for further investment in DG training, technology and infrastructure.”

Key Findings from the Report

Last year’s survey (conducted in June 2020) found that organizations struggled with: receiving goods in a timely manner, lack of carrier availability, training/recertifying employees and keeping teams up-to-date on new and existing compliance rules.

This year’s survey (conducted between March and April 2021) found that despite the range of supply chain challenges, DG pros feel their organizations managed the pandemic reasonably well.

• 80% agree their companies coped well during the pandemic
• 62% agree their supply chain IT capabilities supported DG management well during the pandemic

And many are confident that things are getting back to normal.

• Already back to normal (37%), within the year (29%), 1-2 years (19%), over two years or will never return to normal (14%)

Organizational Performance Gaps

Despite positive sentiment, DG pros are signaling there are still critical organizational issues to be addressed. The most pressing being organizational awareness and infrastructure (50%), training curriculum that meets goals and supports remote learning (46%), harmonized regulations and interpretations (44%) and DG technology (42%).

Given these issues, DG pros acknowledge significant performance gaps.

• Infrastructure: Only 25% believe their company’s current infrastructure is equipped to meet future needs, and less than 20% believe existing tech at their company supports future DG needs
• Compliance training: 41% feel their current training/recertification curriculum is not equipped to meet future needs
• Organizational awareness: 31% feel their company’s senior leaders are not aware of their DG supply chain challenges, and 36% indicate their companies only adhere to the minimum requirements

However, in spite of needing better DG resources, organizational support is not expected to grow with future spending on DG management: Less (15%), the same (60%) and more (25%).

Finn added, “Though organizations feel positive about how they have managed the pandemic, DG pros recognize potential challenges on the horizon if DG management gaps are left unaddressed. But in order to address these gaps, senior leadership needs to recognize the critical role DG management plays in the supply chain and overall business, and then invest in the training, technology and resources needed to not only keep the supply chain running (even when major disruptions arise), but provide real business value and differentiation.”

To learn more about how the pandemic has impacted the DG supply chain, and the changes DG pros feel are needed within their organizations, download the full infographic: https://www.labelmaster.com/dg-confidence-outlook/2021-results.

About Labelmaster

For more than five decades, Labelmaster has been the go-to source for companies – big and small – to navigate and comply with the complex, ever-changing regulations that govern the transport of dangerous goods and hazardous materials. From hazmat labels and UN-certified packaging, hazmat placards and regulatory publications, to advanced technology and regulatory training, Labelmaster’s comprehensive offering of industry-leading software, products, and services helps customers remain compliant with all dangerous goods regulations, mitigate risk and maintain smooth, safe operations. Labelmaster's dedication to supporting its customers' operational and compliance needs is enhanced through its unmatched industry expertise and consulting services, which serve as a valuable resource for customers to answer difficult and commonplace regulatory questions. Whether you're shipping hazardous materials by land, air, or sea, Labelmaster is your partner in keeping your business ahead of regulations and compliant every step of the way. To learn more, visit www.labelmaster.com.

Stephen Dye
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312-957-8911

Market barriers include cybersecurity threats, cost, integration challenges, other building investment priorities, and new sensor requirements

BOULDER, Colo.--(BUSINESS WIRE)--#BAS--A new report from Guidehouse Insights examines the global market for commercial intelligent building (IB) solutions that assist in remotely managing and controlling major building automation systems (BASs) such as HVAC controls, lighting controls, fire and life safety, security and access, and building management systems, with revenue forecasts through 2030.

The global market for IB solutions has experienced double-digit growth in the past decade. These solutions connect multiple BASs so that they can operate as an integrated whole, increasing operational efficiencies, improving capital asset management, and providing tools for building management. According to a new report from Guidehouse Insights, IB solution revenue is anticipated to grow globally from $38.2 billion in 2021 to $127.9 billion by 2030 at a compound annual growth rate (CAGR) of 14.4%.

“The coronavirus pandemic could have slowed the adoption of IB solutions in 2020 and 2021. Several building segments faced dramatic decreases in use including retail, transportation, and office space while others, such as healthcare, faced exceptional demand,” says William Hughes, principal research analyst with Guidehouse Insights. “In practice, however, demand increased in all building types in all geographic regions and will likely continue to grow in double digits through 2030.”

Despite the many compelling reasons to install IB solutions, there are also inhibitors, which include cybersecurity threats, the significant cost of hardware, software, and services, challenges when integrating multiple BASs, other building investment priorities, and new sensor requirements to ensure optimal performance.

The report, Market Data: Intelligent Buildings, examines the global market for commercial IB solutions that enable building owners, managers, and operations to remotely manage and control major BASs such as HVAC controls, lighting controls, fire and life safety, security and access, and building management systems. Market conditions, technology issues, and trends are analyzed to forecast the adoption and success of these systems. The report includes estimates of market size and revenue forecasts for 2021 through 2030 for five global regions (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa), each system type, and eight building types. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights

Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.

About Guidehouse

Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 10,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.

* The information contained in this press release concerning the report, Market Data: Intelligent Buildings, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.

For more information, contact:
Lindsay Funicello-Paul
+1.781.270.8456
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) announced today it will host virtual investor meetings at the following conferences:

• Goldman Sachs Power, Utilities, MLPs and Pipelines Conference Wednesday, August 11, 2021; and
• Citi One-on-One Midstream / Energy Infrastructure Conference Wednesday, August 18 and Thursday, August 19, 2021.

A copy of the slides that may be used during the meetings will be available on the Enterprise website at www.enterpriseproducts.com under the Investors tab.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.

Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations, (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.

Initiative will reduce CITY Furniture’s carbon emissions by 52,000 tons

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--#RNG--OPAL Fuels LLC, a vertically integrated producer and distributor of Renewable Natural Gas (RNG) for heavy-duty truck fleets, announced today a contract with CITY Furniture to build three RNG fueling stations and supply the company with 7.75 million gasoline gallon equivalent (GGE) of RNG over the terms of the agreement. TruStar Energy, an OPAL Fuels company, will manage the CNG station development, construction, and service in Miami Gardens, Ocoee, and Plant City, Florida.

“Companies operating heavy duty trucks are quickly realizing that they don’t have to wait for new, unproven technologies and infrastructure to significantly reduce their greenhouse gas emissions and save on fuel costs—RNG does that today,” said Adam Comora, Co-Chief Executive Officer of OPAL Fuels LLC. “Our partnership with CITY Furniture will reduce their carbon emissions by 52,000 tons by switching to RNG from diesel fuel.

The three new stations join CITY Furniture’s first RNG fueling station in Tamarac, Florida, which OPAL Fuels built ten years ago. The stations and RNG dispensing agreement are part of CITY Furniture’s sustainability push and Green Promise for carbon neutrality by 2040. CITY Furniture is an early leader among Florida-based firms making a time-certain pledge to achieve net zero carbon emissions.

“We made the promise to invest in a greener future and to make a substantial effort to care for our planet two years ago. Our 2040 Green Promise using CNG lowers emissions compared to diesel. Using RNG will significantly reduce emissions even further,” said Andrew Koenig, President of CITY Furniture. “There was no other option but to partner with OPAL Fuels on this venture. We make thousands of deliveries every year, so transitioning all of our trucks to RNG is a critical step in reducing our emissions.”

Following years of testing and growing use, RNG has developed into a proven, low-cost, low-carbon fuel available today. RNG is chemically identical to the natural gas Americans use to cook and heat their homes, with one critical difference: it's not a fossil fuel pumped from the ground. Instead, RNG is the natural byproduct of landfills and animal waste, captured and processed before it leaks into the atmosphere or is required to be burned off. Fleets that use RNG can reduce their total GHG by 99 to 149 percent compared to diesel, and RNG can also cost 40 to 70 percent less per gallon, providing an attractive rate of return on natural gas truck capital expenditures and a significant annual operating cost savings.

“We are proud to say our fleet is one of the greenest in the industry,” said Koenig, “and our transition to 100% RNG solidifies that. We will continue to push for a cleaner, more sustainable future partnered with OPAL Fuels.”

About OPAL Fuels LLC

OPAL Fuels LLC, a FORTISTAR portfolio company, brings together FORTISTAR Methane Group, FORTISTAR RNG, and TruStar Energy to create a vertically integrated renewable fuels platform. OPAL is an emerging leader in the production and distribution of renewable natural gas (RNG), a proven low carbon fuel with a decades-long track record of results that has the power to rapidly decarbonize the transportation industry. OPAL captures harmful methane emissions at the source and recycles the trapped energy into a commercially viable, low-cost alternative to diesel fuel. OPAL’s subsidiary company, TruStar Energy, manages all compressed natural gas (CNG) fueling station development, construction, and service. As a vertically integrated producer and distributor of RNG for heavy-duty truck fleets for over 20 years, OPAL delivers best-in-class, complete renewable solutions to customers and production partners. To learn more about OPAL and how it is leading the effort to decarbonize North America's transportation industry, please visit www.opalfuels.com.

About CITY Furniture

CITY Furniture is South Florida’s ultimate furniture and mattress store committed to providing the highest quality home furnishings at excellent values. Celebrating its 50^th year in business, CITY operates 20 showrooms from Miami through Vero Beach, and in Southwest and Central Florida, as well as 14 Ashley HomeStore showrooms as the brand’s Southeast and Southwest Florida licensee. For more information, please visit www.cityfurniture.com.

Media
Lily Thieneman
502-468-8801
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• INNIO joins more than 9,500 companies and 3,000 non-business signatories to support UN goals and issues
• INNIO joins United Nations Global Compact as part of continued pursuit to achieve climate-neutral future
• Joining the United Nations Global Compact demonstrates another step in INNIO’s commitment to sustainability across its Jenbacher and Waukesha businesses

JENBACH, Austria--(BUSINESS WIRE)--#INNIO--INNIO today announced that it has joined the United Nations Global Compact, the world’s largest corporate sustainability initiative. In joining this critical voluntary leadership platform, INNIO continues its path to build on an expanded commitment to its environmental, social and governance (ESG) program. As part of the Global Compact initiative — which is focused on the development, implementation and disclosure of responsible business practices – INNIO proudly aligns itself with thousands of other companies and non-business signatories globally committed to taking responsible business action to create a better world.

As part of its relentless pursuit to achieve a climate-neutral, greener and more secure energy future, INNIO established its Sustainability Review Board (SRB), tasked with developing INNIO’s ESG goals and strategy for its Jenbacher and Waukesha businesses in close alignment with INNIO’s growth strategy. In an act to cement its commitment to sustainability, INNIO leadership – in conjunction with its SRB – moved swiftly to become a participant of the Global Compact. INNIO recognized the Global Initiative as being a beacon platform bringing together companies and non-business signatories everywhere to align their operations and strategies with ten principles in the areas of human rights, labor, environment and anti-corruption, and to take action in support of UN goals and issues embodied in the Sustainable Development Goals. Launched in 2000, the UN Global Compact is composed of more than 9,500 companies and 3,000 non-business signatories based in over 160 countries, and more than 70 Local Networks.

“We are delighted to have taken this step to add our voice to that of thousands of others in helping to impact positive change across the world through business,” said Carlos Lange, president and CEO of INNIO. “While our expertise lies in the domain of power generation and gas compression, we recognize that our responsibility does not end with the sustainable production and delivery of electricity and gas compression. As a responsible corporate citizen, we are ethically and morally bound to maintain a responsible role as it pertains to human rights, labor, and anti-corruption as well as the environment. As part of the Global Compact, we are now positioned with our corporate neighbors to advance broader societal goals, such as the UN Sustainable Development Goals, through collaboration and innovation. Together, we can push further and faster to effectively address the world’s most pressing challenges.”

INNIO, a global provider of energy services, equipment and digital solutions for power generation and gas compression at or near the point of use, is relentlessly dedicated to being a model corporate citizen. As part of this effort, INNIO recently took a bold step in advancing sustainability in the power industry to build the first industrial scale hydrogen-fueled power plant. In close collaboration with HanseWerk Natur, INNIO initiated field testing of a 1-megawatt (MW) pilot power plant with a Jenbacher gas engine that represents the world’s first large-scale gas engine in the 1 MW range, capable of operating with variable hydrogen-natural gas mixtures or up to 100% hydrogen. INNIO’s efforts are being recognized as evidenced with its recent accolade of receiving a Silver Medal rating from EcoVadis, placing INNIO Jenbacher in the top 17% of its peers working towards sustainability.

In its capacity as a thought leader, INNIO always seeks new energy sources and better energy solutions to support its customers and their communities, while investing in its Jenbacher and Waukesha product lines and digital solutions to support the energy transition. Its gas engines—many of which have passed stringent sustainability tests for efficiency and energy savings—offer industry-leading emission levels and reduced carbon footprints. INNIO’s gas engine fleet helps to provide a more sustainable future by developing new, innovative low-carbon technologies, such as its hydrogen-ready Jenbacher gas engine technology. Its Waukesha gas engines help customers achieve low emissions and responsibly produce natural gas now and in the future. INNIO’s digital products and solutions play an important role in reduction of emissions and remote smart management of assets for our customers.

In 2021, EcoVadis awarded INNIO Jenbacher a silver medal to honor its engagement for a climate-neutral, greener, and more secure energy future. This places INNIO Jenbacher in the top 17% of its peers working towards sustainability.

About INNIO

INNIO is a leading provider of renewable gas, natural gas, and hydrogen-based solutions and services for power generation and gas compression at or near the point of use. With our Jenbacher and Waukesha gas engines, INNIO helps to provide communities, industry and the public access to sustainable, reliable and economical power ranging from 200 kW to 10 MW. We also provide life-cycle support and digital solutions to the more than 53,000 delivered gas engines globally, through our service network in more than 100 countries. We deliver innovative technology driven by decarbonization, decentralization, and digitalization to help lead the way to a greener future. Headquartered in Jenbach, Austria, the business also has primary operations in Welland, Ontario, Canada, and Waukesha, Wisconsin, U.S. For more information, visit the company's website at www.innio.com. Follow INNIO on Twitter and LinkedIn.

Susanne Reichelt
INNIO
+43 664 80833 2382
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After 37 years of service, James R. Lines announces plans to retire

BATAVIA, N.Y.--(BUSINESS WIRE)--Graham Corporation (NYSE: GHM), a global business that designs, manufactures and sells critical equipment for the defense, energy and chemical/petrochemical industries, today announced that its Board of Directors has appointed Daniel J. Thoren as its President and Chief Executive Officer, effective September 1, 2021. Mr. Thoren will also join the Board of Directors upon assuming the new role.

Mr. Thoren currently serves as Graham’s President and Chief Operating Officer. He will succeed James R. Lines, who plans to retire from the Company and step down from the Board of Directors.

James J. Malvaso, Graham’s Board Chairman, commented, “We first met Dan in 2019 when we were evaluating the acquisition of Barber-Nichols (“BN”), which we completed on June 1, 2021. Dan has proven his strong leadership skills through the rapid growth of BN and, since joining Graham, has demonstrated a robust vision for the future of the Company. Dan had built a strong leadership bench at BNI enabling this succession plan to be another key benefit of our transformative acquisition. We are excited to have him take charge of the next phase of Graham’s future.

“On behalf of the entire board, I thank Jim for more than 37 years of service to Graham and the notable contributions he made as leading the organization over 15 years. Under his leadership, Graham has improved its cash generation, expanded into more geographic and end markets, with the Navy being particularly noteworthy, and created more flexible and efficient production processes while building a strong culture of quality. We appreciate his support through the transition and wish him the very best in his retirement.”

Mr. Lines commented, “It has been an honor and privilege to serve as the president and chief executive officer of Graham. I value the relationships developed through the years with our employees, customers, and shareholders, and, I appreciate the support the board of directors has provided all these years. I am excited about Graham’s future under Dan’s leadership and look forward to watching the Company transform into a leading defense industry supplier while further advancing our energy business. We have enhanced our strong leadership team with the BNI acquisition, and I expect that, supported by our tremendously talented team of employees, they will propel Graham to new heights.”

Mr. Thoren commented, “I believe these are incredible times for Graham as we work to transform the business and pivot toward growth. I am excited to lead the team as we expand our defense business, develop new products and capture a larger share of the defense and energy markets we serve. I am looking forward to working with our combined team and the Board to drive value for customers and shareholders.”

Dan Thoren became Graham’s President and Chief Operating Officer in June 2021. Prior to that, Mr. Thoren served as Barber Nichols’ President and CEO since 1997 and more than quadrupled the size of the business in that time. From 1991 to 1997, he held Senior Engineer and Engineering management posts at the company. Mr. Thoren earned a B.S. degree in Mechanical Engineering from the University of Wyoming and a M.S. degree in Organizational Management from the University of Colorado, Denver.

ABOUT GRAHAM CORPORATION

Graham is a global business that designs, manufactures and sells critical equipment for the energy, defense, aerospace, medical, technology, automotive and chemical/petrochemical industries. The Graham and Barber-Nichols’ global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenics, and turbomachinery technologies, as well as the Company’s responsive and flexible service and unsurpassed quality.

Graham routinely posts news and other important information on its website, www.graham-mfg.com, where additional comprehensive information on Graham Corporation and its subsidiaries can be found.

Safe Harbor Regarding Forward Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “confidence,” “projects,” “typically,” “outlook,” “anticipates,” “indicates”, “believes,” “appears,” “could,” “opportunities,” “seeking,” “plans,” “aim,” “pursuit,” “look towards” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, expected expansion and growth opportunities within its defense and energy markets, anticipated revenue, the timing of conversion of backlog to sales, market presence, profit margins, tax rates, foreign sales operations, its ability to improve cost competitiveness and productivity, customer preferences, changes in market conditions in the industries in which it operates, the effect on its business of volatility in commodities prices, including, but not limited to changes in general economic conditions and customer behavior, forecasts regarding the timing and scope of the economic recovery in its markets, its acquisition and growth strategy are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission, included under the heading entitled “Risk Factors.”

Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

Jeffrey F. Glajch
Vice President - Finance and CFO
Phone: (585) 343-2216
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Deborah K. Pawlowski
Kei Advisors LLC
Phone: (716) 843-3908
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ROCKVILLE, Md.--(BUSINESS WIRE)--#NewYork--New York’s largest community solar project connected to an energy storage system is nearing completion. Solar energy leader Standard Solar Inc. developed, installed and funded the community distributed generation (CDG) project in Lenox, NY. The Lenox Community Solar Project includes a 20-megawatt hour (MWh) DC-coupled battery directly charged from the 17,966 fixed-tilt and single-axis tracker solar modules.

Distributed Generation photovoltaic (PV) solar and storage have a natural, symbiotic relationship. Together, they help energy consumers meet increasing energy demands, aid the nation’s aging grid and achieve aggressive clean energy targets. The Lenox CDG or community solar + storage system will allow hundreds of area subscribers, homeowners and businesses who otherwise might not have access to solar to benefit from the power and savings of renewable energy.

The system is projected to generate 5,933.00 MWh in the first year of operation and reduce annual carbon offset by an estimated 264,931,764 pounds of coal burned.

“Community solar with battery storage is an extremely effective method for bringing the benefits of clean energy to as many people as possible while also transforming the U.S. electric grid,” said Daryl Pilon, Director of Business Development at Standard Solar. “The Lenox Community Solar Project is the kind of high impact asset that aligns with Standard Solar’s goal to scale renewables to help Americans lower their electric bills, innovate the energy industry and ensure the future of our planet.”

The system will bring environmental sustainability and savings to hundreds of residents and businesses and help National Grid meet its New York Clean Energy Standard requirements – to generate 70% of the state’s electricity through renewable sources by 2030.

New York is one of the top five states with the most community solar installations in the country in part due to Governor Cuomo’s NY-Sun initiative and Reforming the Energy Vision (REV) plan.

About Standard Solar

Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 17 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 200 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.

PR:
Leah Wilkinson
Wilkinson + Associates
703-907-0010
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• Revenue of $20.2 million up 21%, driven by defense and refining industry sales
• Orders increased to $20.9 million including $11.4 million from the refining industry
• Backlog at quarter-end was $235.9 million; 80% of backlog was for the defense industry; Added space industry to backlog with acquisition of Barber Nichols
• Profits and margins heavily impacted by product mix

BATAVIA, N.Y.--(BUSINESS WIRE)--Graham Corporation (NYSE: GHM), a global business that designs, manufactures and sells critical equipment for the defense, energy, and chemical/petrochemical industries, today reported financial results for its first quarter ended June 30, 2021 (“first quarter of fiscal 2022”). Results include one month of financials related to Barber-Nichols (“BN”) which was acquired on June 1, 2021. Separately today the Company announced that Daniel J. Thoren will be promoted to President and Chief Executive Officer effective September 1, 2021, immediately following the retirement of James R. Lines who served with the Company for 37 years.

Mr. Lines commented, “While sales improved as a result of the acquisition, we had a number of projects with lower margins which heavily impacted profitability in the quarter. This partially reflects our initial strategy to aggressively enter the Naval Nuclear Propulsion Program (“NNNP”). Given our strong performance on the NNNP projects, we were successful with our strategy and have since earned a sole source position. We expect that the vast majority of the impact of first order projects will be behind us by the end of fiscal 2022.”

Mr. Lines added, “While the quarter’s results were disappointing, we view this fiscal year as a transition and believe we are better positioned to drive growth and stronger margins for the future.”

First Quarter Fiscal 2022 Sales Summary (All comparisons are with the same prior-year period unless noted otherwise. See accompanying financial tables for a breakdown of sales by industry and region.)

Net sales of $20.2 million increased $3.4 million, or 21%, driven by $3.5 million in sales associated with the acquisition of BN and higher sales to the refining industry which helped to offset lower petrochemical sales. Last fiscal year’s first quarter benefitted from the shipment of a large petrochemical project that had been extended from fiscal 2020 into fiscal 2021 due to the COVID-19 pandemic. BN had one month of sales included in the fiscal 2022 first quarter’s results.

Sales to the defense markets were up 104% to $7.1 million and represented 35% of total revenue. Sales to the refining markets increased $1.9 million from the prior-year period to $4.6 million and represented 23% of total sales. Chemical/petrochemical market sales were $4.6 million compared with $8.0 million in the prior fiscal year.

From a geographic perspective, domestic sales were 69% of total sales and reflect the impact of BN, along with higher sales to the defense industry. The majority of international sales were to Asia, which accounted for 17% of total sales.

Fluctuations in Graham’s sales among geographic locations and industries can vary measurably from quarter-to-quarter based on the timing and magnitude of projects. Graham does not believe that such quarter-to-quarter fluctuations are indicative of business trends.

First Quarter Fiscal 2022 Performance Review

(All comparisons are with the same prior-year period unless noted otherwise.)

*Graham believes that Adjusted EBITDA (defined as consolidated net income (loss) before net interest expense, income taxes, depreciation, amortization and other acquisition related expenses), and Adjusted EBITDA margin (Adjusted EBITDA as a percentage of sales), which are non-GAAP measures, help in the understanding of its operating performance. Moreover, Graham’s credit facility also contains ratios based on Adjusted EBITDA. Graham also believes that adjusted EPS, which adds back intangible amortization expense related to acquisitions, provides a better representation of the cash earnings of the Company. See the attached table on page 9 for additional important disclosures regarding Graham’s use of Adjusted EBITDA, Adjusted EBITDA margin and Adjusted diluted EPS as well as the reconciliation of net income/(loss) to Adjusted EBITDA and Adjusted diluted EPS.

Lower gross profit and margin despite higher sales volume, was due to a poor mix of projects in the Company’s Batavia production facility combined with a lower level of outsourced fabrication.

Selling, general and administrative (“SG&A”) expenses were $4.9 million, up $1.0 million, or 26%. BN accounted for $0.6 million of the increase, including the impact of intangible asset amortization. The remaining increase was due to acquisition-related and organizational development costs. SG&A, as a percent of sales for the three-month periods ended June 30, 2021, and 2020 were 24.4% and 23.4%, respectively.

Net loss per diluted share was $0.31. On a non-GAAP basis, which excludes intangible amortization and other costs related to the acquisition, adjusted earnings per share were $(0.28).

Strong Balance Sheet with Ample Liquidity

Cash, cash equivalents and investments at June 30, 2021 were $19.1 million compared with $65.0 million at March 31, 2021. During the quarter, in connection with the acquisition of BN, the Company utilized $41.1 million of cash, cash equivalents and investments, and incurred debt of $20 million pursuant to a 5-year term loan.

Net cash used by operating activities was $7.1 million compared with cash usage of $4.4 million in the prior-year period. The change in cash usage reflects the higher net loss and changes in working capital, which included the utilization of customer deposits.

Year-to-date capital spending was $0.4 million. The Company has adjusted anticipated capital expenditures for fiscal 2022 to be between $3.5 million and $4.0 million (including BN).

Orders and Backlog

Orders of $20.9 million increased 82% over the prior-year period and 55% sequentially. The year-over-year growth was across each of Graham’s major industries, with the bulk from defense and refining. The growth in orders sequentially was largely from the refining industry. The one month of orders from BN during the quarter were $0.2 million. Domestic orders were 74% of total net orders in the first quarter of fiscal 2022 compared with 28% in the prior-year period, reflecting the demand from the U.S. Navy.

Backlog at the end of the quarter was $235.9 million, inclusive of BN backlog of $94.4 million.

Backlog by industry at June 30, 2021 was approximately:

• 80% for defense projects
• 12% for refinery projects
• 3% for chemical/petrochemical projects
• 2% for space projects
• 3% for other industrial applications

The Company expects approximately 35% to 40% of backlog will convert to revenue in the last nine months of fiscal 2022. Approximately $25 million to $27 million of backlog related to the defense industry is expected to convert to sales in fiscal 2022.

Fiscal 2022 Guidance Remains Unchanged

Daniel J. Thoren, currently the Company’s President and COO, concluded, “I am encouraged by the improvement in orders in the quarter, specifically from the refining market. Our quoting activity is picking up and, while still early, we believe our customers are more optimistic. We anticipate this optimism will translate into greater capital investments and improving demand for our products. In the meantime, our second quarter will benefit from having BN for a full three months. However, based on the timing of customers’ projects, we expect that revenue and profits will ramp through the second half of the fiscal year. We see fiscal 2022 as a transition year as it relates to earnings, given the timing of conversion of first order projects for the U.S. Navy.”

He added, “We are very optimistic about our future. We believe that we have the right strategy, the best talent and the ideal technologies to capitalize on the growing requirements of our customers in the defense industry. We also are encouraged with the improvements we are seeing in our core energy markets. Together, our combined Graham and BN teams are looking to improve our growth profile while driving profitability.”

Revenue in fiscal 2022 is expected to be $130 million to $140 million with 45% to 50% associated with the defense industry. Revenue expectations are inclusive of BN’s 10-month revenue contribution for the fiscal year which is expected to be between $45 million to $48 million. Adjusted EBITDA* is expected to be approximately $7.0 million to $9.0 million in fiscal 2022.

*Please refer and read the safe harbor statement regarding forward-looking non-GAAP measures.

Webcast and Conference Call

Graham’s management will host a conference call and live webcast today at 11:00 a.m. Eastern Time to review its financial condition and operating results for the first quarter of fiscal 2022, as well as its strategy and outlook. The review will be accompanied by a slide presentation, which will be made available immediately prior to the conference call on Graham’s website at www.graham-mfg.com under the heading “Investor Relations.” A question-and-answer session will follow the formal presentation.

Graham’s conference call can be accessed by calling (201) 689-8560. Alternatively, the webcast can be monitored on Graham’s website at www.graham-mfg.com under the heading “Investor Relations.”

A telephonic replay will be available from 2:00 p.m. ET today through Tuesday, August 17, 2021. To listen to the archived call, dial (412) 317-6671 and enter conference ID number 13721239. A transcript of the call will be placed on Graham’s website, once available.

ABOUT GRAHAM CORPORATION

Graham is a global business that designs, manufactures and sells critical equipment for the defense, energy, aerospace, medical, technology, automotive and chemical/petrochemical industries. The Graham and Barber-Nichols’ global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenics, and turbomachinery technologies, as well as the Company’s responsive and flexible service and unsurpassed quality.

Graham routinely posts news and other important information on its website, www.graham-mfg.com, where additional comprehensive information on Graham Corporation and its subsidiaries can be found.

Safe Harbor Regarding Forward Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “confidence,” “projects,” “typically,” “outlook,” “anticipates,” “indicates”, “believes,” “appears,” “could,” “opportunities,” “seeking,” “plans,” “aim,” “pursuit,” “look towards” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, effects of the COVID-19 global pandemic, the integration of the BNI acquisition, the future expected contributions of BN, expected expansion and growth opportunities within its domestic and international markets, anticipated revenue, the timing of conversion of backlog to sales, market presence, profit margins, tax rates, foreign sales operations, its ability to improve cost competitiveness and productivity, customer preferences, changes in market conditions in the industries in which it operates, the effect on its business of volatility in commodities prices, including, but not limited to, changes in general economic conditions and customer behavior, forecasts regarding the timing and scope of the economic recovery in its markets, its acquisition and growth strategy and its operations in China, India and other international locations, are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission, included under the heading entitled “Risk Factors.”

Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

In addition, forward looking adjusted EBITDA and adjusted EBITDA margin are non-GAAP measures. The Company is unable to present a quantitative reconciliation of these forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because such information is not available, and management cannot reliably predict the necessary components of such GAAP measures without unreasonable effort or expense. In addition, the Company believes that such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The unavailable information could have a significant impact on the Company’s fiscal 2022 financial results. These non-GAAP financial measures are preliminary estimates and are subject to risks and uncertainties, including, among others, changes in connection with purchase accounting, quarter-end and year-end adjustments. Any variation between the Company’s actual results and preliminary financial data set forth above may be material.

¹⁾ Applies a normalized tax rate of 19% to non-GAAP adjustments above, which are each pre-tax.

Non-GAAP Financial Measure:

Adjusted EBITDA is defined as consolidated net income (loss) before net interest expense, income taxes, depreciation, amortization and other acquisition related expenses and Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of sales. EBITDA and EBITDA margin are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Graham believes that providing non-GAAP information, such as EBITDA, is important for investors and other readers of Graham's financial statements, as it is used as an analytical indicator by Graham's management to better understand operating performance. Moreover, Graham’s credit facility also contains ratios based on EBITDA. Because EBITDA is a non-GAAP measure and is thus susceptible to varying calculations, EBITDA, as presented, may not be directly comparable to other similarly titled measures used by other companies.

Adjusted net income and diluted EPS are defined as net income and diluted EPS as reported, adjusted for certain items and at a normalized tax rate. Adjusted net income and diluted EPS are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP, and may not be comparable to the measures as used by other companies. Nevertheless, Graham believes that providing non-GAAP information, such as adjusted net income and diluted EPS, is important for investors and other readers of the Company’s financial statements and assists in understanding the comparison of the current quarter’s and current year's net income and diluted EPS to the historical periods' net income and diluted EPS. Graham also believes that adjusted EPS, which adds back intangible amortization expense related to acquisitions, provides a better representation of the cash earnings of the Company.

Jeffrey F. Glajch
Vice President - Finance and CFO
Phone: (585) 343-2216
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Deborah K. Pawlowski
Kei Advisors LLC
Phone: (716) 843-3908
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ARLINGTON, Va.--(BUSINESS WIRE)--#NSTA--Shell Oil Company and the National Science Teaching Association today announced the recipients of the annual Shell Urban Science Educator Development Award. In lieu of the in-person event that typically takes place annually at the NSTA National Conference, the awardees (listed below) were formally recognized in May for their achievement during a virtual award ceremony.

Shell Urban Science Educator Development Awardees:

• Shavonne Bragg, Elementary Science Teacher, Double Tree Elementary School, Memphis, Tennessee
• Alexander Eden, Biology Teacher, Greater Lowell Technical High School, Methuen, Massachusetts
• Michelle Ellis, Science Teacher, Hunter Huss High School, Gastonia, North Carolina
• Carla Marie Neely, Elementary Science Teacher, Warner Girls Leadership Academy, Cleveland, Ohio
• LaShan Rose, Science Teacher, Lindley Academy Charter School at Birney, Philadelphia, Pennsylvania
• Cenia A. Santana, Science Teacher, Sleepy Hollow High School, Sleepy Hollow, New York
• Tiffany Scott, Fifth Grade Science Teacher, Luling Elementary School, Luling, Louisiana
• Erica Stephens, Elementary STEM Teacher, John P. Freeman Optional School, Memphis, Tennessee
• John Carlo Tulinao, First Grade STEAM Teacher, Amberlea Elementary School, Phoenix, Arizona
• Leslie White, Middle and High School Science Specialist, Duval County Public Schools, Jacksonville, Florida
• Nakia Williams, Elementary Science Teacher, Lukeville Elementary School, Brusly, Louisiana

“Diverse science teachers serving in challenging environments must receive professional development to engage all students in inquiry-based and hands-on activities,” said Frazier Wilson, VP, Shell Oil Company Foundation Director, Workforce Development and Diversity Outreach. “Our investment in their development will also create a pipeline for their participation in science leadership initiatives while strengthening recruitment and retention of technical and inventive talent from underrepresented groups that will help solve the complex problems of today’s world and its future.”

Created for K–12 classroom science teachers in urban settings, the Shell Urban Science Educator Development Award is designed to help strengthen quality science teaching and enhance teacher content knowledge.

“We all know the value of a great teacher, and every one of these award winners has proven themselves to be both outstanding and inspirational,” said Dr. Elizabeth Allan, NSTA Retiring President.

Each of the teachers received $1,800 and expenses to attend NSTA’s Engage: Spring21 virtual conference, which took place April 12-May 8.

More information about the Shell Urban Science Educator Development Award and the NSTA Teacher Awards Program can be found online at http://www.nsta.org/about/awards.aspx.

About Shell Oil Company

Shell Oil Company is an affiliate of the Royal Dutch Shell plc, a global group of energy and petrochemical companies with operations in more than 70 countries. In the U.S., Shell operates in 50 states and employs more than 20,000 people working to help tackle the challenges of the new energy future.

About NSTA

The National Science Teaching Association (NSTA) is a vibrant community of 40,000 science educators and professionals committed to best practices in teaching science and its impact on student learning. NSTA offers high quality science resources and continuous learning so that science educators grow professionally and excel in their career. For new and experienced teachers alike, the NSTA community offers the opportunity to network with like-minded peers at the national level, connect with mentors and leading researchers, and learn from the best in the field.

Kate Falk, NSTA
(703) 312-9211
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Company to discuss role of smart charging in the emissions-free mobility future at ACT Expo

BELMONT, Calif.--(BUSINESS WIRE)--The Mobility House continues to pioneer the field of vehicle-to-grid (V2G) technology by bringing its ChargePilot software to Southeast Asia for the first V2G trial. SP Group (formerly Singapore Power), Singapore’s national grid operator and leading sustainable solutions provider, has increased its initial investment in The Mobility House in conjunction with the start of its V1G and V2G technology trial. The trial will test and verify the feasibility of controlled charging as well as using energy stored in electric vehicles (EVs) to enhance grid stability. The goal is to accommodate higher EV grid penetration, particularly as Singapore prepares to replace all internal combustion engine vehicles by 2040.

The Mobility House has become a market leader in V2G around the world and has demonstrated the broad range of its technology applications. This includes mitigating transmission line congestion in Germany to stabilize the power grid and providing emergency power supply for the Johan Cruijff ArenA in Amsterdam. Here onsite chargers allow visitors to charge vehicles while parked and also return energy to the stadium in emergency situations. The European Investment Bank (EIB) also invested €15 million to promote EV integration into the electric grid through research and development funding for The Mobility House’s intelligent Charging and Energy Management system ChargePilot and its underlying EV Aggregation Platform.

“ChargePilot’s intelligent integration of EVs into the power grid not only stabilizes power supply but can also improve the CO2 emissions reductions of charging an EV by almost double,” said The Mobility House U.S. Managing Director Greg Hintler. “The Mobility House offers the only non-proprietary, open-standards technology in the market, affirming our ability to expand our global footprint of smart charging and V2G deployments to Southeast Asia, North America and beyond.”

Given the significant amount of time vehicles are parked unused, V2G can provide additional value by intelligently connecting EVs to the power grid to provide various grid-stabilizing services. The Mobility House’s ChargePilot enables smart charging and discharging of EVs according to the grid’s needs in a comprehensive solution for a fully electrified, emissions-free mobility future. Bridging the gap between energy and mobility also makes offsetting new electrification costs possible, as they provide end users with added benefits of utility bill reduction and increased revenue streams.

To learn more about The Mobility House's global expertise in optimizing charging for the largest U.S. electric public transit and school bus fleets, many of the largest fleets in Europe and more, visit: mobilityhouse.com.

The Mobility House at ACT Expo 2021

The Mobility House team will be exhibiting (Booth #1716) at the upcoming Advanced Clean Transportation Expo 2021, to be held at the Long Beach Convention Center on August 30-September 2. Visitors will be able to see live demonstrations of the company’s intelligent Charging and Energy Management system ChargePilot and engage with The Mobility House experts on-site. Conference attendees can also hear from Rajiv Singhal, director of strategic partnerships for The Mobility House during the session titled, Light and Medium Duty Vehicle Summit Part 2 – Making Charging Smarter, taking place at 11:15am local time on September 2. Here Rajiv will discuss how smart charging technologies are optimizing charging, fuel costs and up-time for fleets today.

About The Mobility House

The Mobility House’s mission is to create an emissions-free energy and mobility future. Since 2009, the company has developed an expansive partner ecosystem to intelligently integrate electric vehicles into the power grid, including electric vehicle charger manufacturers, 1,000+ installation partners, 80+ energy suppliers, and automotive manufacturers ranging from Audi to Tesla. The intelligent Charging and Energy Management system ChargePilot and underlying EV Aggregation Platform enable customers and partners to integrate electric vehicles into the grid for optimized and future proof operations. The Mobility House’s unique vendor-neutral and interoperable technology approach to smart charging and energy management has been successful at over 500 commercial installations around the world. The Mobility House has more than 200 employees across its operations in Munich, Zurich and Belmont, Calif. For more information visit mobilityhouse.com.

Christine Bennett for The Mobility House
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The Riviera Beach, FL plant will be the only U.S. facility to produce heterojunction solar modules, delivering high-efficiency, longer lasting solutions for the residential and commercial solar market

SAULT STE. MARIE, Ontario--(BUSINESS WIRE)--Heliene, a Customer-First provider of North American made solar modules, today announced it will open its third North American solar module manufacturing facility located in Riviera Beach, Florida. The new facility is Heliene’s second plant in the United States, increasing its manufacturing capacity by an additional 100 megawatts (MW). Heliene will begin manufacturing operations at the new facility in September 2021.

Heliene is expanding upon its product suite of high-quality, North American produced solar modules, which to date have been designed and manufactured in multiple configurations in Minnesota and Ontario, Canada. The Florida plant will be the only facility in the U.S. to produce super high-efficiency heterojunction solar cell modules for residential and commercial applications. Heterojunction solar cell modules deliver more power per unit area, more units of electricity over the life of the module, and greater reliability compared to conventional high efficiency modules – all in an aesthetically-pleasing, low-profile package.

“With the launch of the Florida facility, Heliene is strongly positioned to meet the significant forecasted demand for residential and commercial solar in the U.S. through our industry-leading module technology and manufacturing efficiency,” said Martin Pochtaruk, CEO, Heliene. “Heterojunction module technology changes the economics of solar, giving our customers greater production density when designing residential and commercial installations. Delivering the most superior products available with a just-in-time solution and always-available customer support is critical to our strategy to increase clean energy access across North America.”

Heterojunction cell technology combines the advantages of N-type crystalline silicon with the excellent absorption and passivation of amorphous silicon. Heliene’s 66 cell Heterojunction 370W module uses multiwire technology and 18 round microwires in place of traditional flat busbars, which reduces shading by 25 percent by creating a light trapping effect. The N-type silicon results in extremely low light induced degradation (LID) and potential induced degradation (PID), guaranteeing more power over the lifespan of the module. The heterojunction module is also excelling in low light and high temperature conditions.

The 75,000 square foot Riviera Beach facility will create over 60 new manufacturing, maintenance, engineering and logistics jobs in the area. As a member of the Solar Energy Manufacturing for America (SEMA) Coalition, Heliene is committed to generating well-paying manufacturing jobs in the U.S. and strengthening America’s solar supply chain to accelerate clean energy adoption and reach national decarbonization targets.

With over five percent of the company’s revenue invested in R&D annually, Heliene’s modules are produced with an advanced PV bill-of-materials, ensuring durability and aesthetics. The modules undergo yearly independent third party engineering evaluations to ensure long-term reliability and are approved for projects financed by major banking institutions worldwide.

Heliene is currently accepting orders for the 66 cell Heterojunction 370W module.

About Heliene

Heliene is one of North America’s fastest-growing domestic module manufacturers serving the utility-scale, commercial, and residential markets. With an in-house logistics team and remarkably responsive support staff, Heliene delivers competitively priced, high performance solar modules precisely when and where customers need them to accelerate North America’s clean energy transition. Founded in 2010, Heliene consistently ranks as a Bloomberg New Energy Finance Tier 1 module manufacturer and has production facilities located in Canada, Minnesota and Florida. For more information, visit www.heliene.com.

Annika Harper
PR Director
Antenna Group
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Integrated approach to reduce uncertainty and improve efficiency in major gas development project

HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced that Sapura Drilling, a subsidiary of Sapura Energy, has awarded it an offshore integrated contract.

Sapura, with Halliburton as its technical partner, will execute an Integrated Rig Drilling Completion (i-RDC) contract for a six well offshore well construction program. The uniquely integrated nature of the contract opens the pathway for Halliburton, in collaboration with Sapura Drilling and PETRONAS Carigali Sdn Bhd, to synergistically deploy its state-of-the-art Halliburton 4.0 digital platform to its fullest potential to achieve a step change improvement in operational efficiency.

Digital technologies will include the complete suite of Digital Well Program®, Digital Well Operations and Digital Well Automation, all DecisionSpace®365 cloud applications. Consistent with Halliburton 4.0, the scope of work also includes key digital technologies from Sperry Drilling, Cementing, Drill Bits, Baroid, and Completions product lines. The campaign is the first integrated project of its kind in country that combines rig services with all aspects of planning, operations and automation.

About Halliburton

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

For Investors:
Abu Zeya
Investor Relations
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281-871-2688

For News Media:
William Fitzgerald
External Affairs
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281-871-2601

HALIFAX, Nova Scotia--(BUSINESS WIRE)--Jackie Sheppard, Chair of Emera Inc. (TSX: EMA), announces the appointment of Gil Quiniones to Emera’s Board of Directors, effective today.

“Gil will be a tremendous contributor to the Emera Board,” says Sheppard. “He brings extensive experience and is one of today’s energy industry leaders driving innovation, new technologies and cleaner energy solutions for customers.”

Mr. Quiniones’ career spans 30 years and extends across regulated and unregulated utility markets, public utilities, and state and local governments.

As President and CEO of the New York Power Authority (NYPA), Mr. Quiniones is playing a key role in state-led energy reform initiatives to empower customers and encourage the growth of clean renewable energy and energy efficiency. He has also served as Chief Operating Officer and Executive Vice President, Marketing Sales and Corporate Affairs at the NYPA. Previously, he was Senior Vice President of Energy and Telecommunications at the New York City Economic Development Corporation.

Mr. Quiniones is a member of numerous not-for-profit boards and energy research associations in the U.S., including Chair of GridWise Alliance, past Chair and current board member of the Electric Power Research Institute and Vice Chair of the New York Energy Research and Development Authority.

Mr. Quiniones grew up in the Philippines and earned his Bachelor of Science degree in Mechanical Engineering from De La Salle University in Manila. He lives in New York with his family.

About Emera

Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F and EMA.PR.H. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional Information can be accessed at www.emera.com or at www.sedar.com.

Media
Dina Seely
(902) 478-0080
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