Expanded goal targets operations-driven emissions and helping customers meet climate goals through equitable clean energy solutions

CHICAGO--(BUSINESS WIRE)--Exelon Utilities today announced it will reduce its operations-driven emissions 50 percent by 2030* and ultimately to net-zero by 2050 as part of its continuing efforts to address the climate crisis. A division of Exelon Corporation, Exelon Utilities is composed of Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and PEPCO. The six utilities deliver electricity and gas to more than 10 million customers across five states and the District of Columbia.

As the nation’s largest producer of emissions-free energy, Exelon Corporation has a long history of leadership on climate change, having met – and exceeded -- three previous emissions reduction goals spanning both our generation company and utilities division dating back to 2005. Each of the company’s utilities has already reduced their own emissions significantly and worked in their communities to deploy smart grid technology, electric vehicle infrastructure and other tools and programs aimed at making the grid more efficient and helping customers reduce energy use. The latest “Path to Clean” goal takes those efforts to the next level.

“Our customers have made clear that climate change is important to them and they want us to continue being part of the solution and pushing ourselves to do more,” said Calvin Butler, CEO of Exelon Utilities. “These aggressive goals seek to eliminate emissions from our utility operations, provide needed support to state and local climate goals and give customers expanded access to clean and affordable energy solutions.”

To achieve net-zero emissions from operations, some of the actions Exelon Utilities will take include:

• Converting 30 percent of its vehicle fleet to electric by 2025 and 50 percent by 2030
• Focusing technology and infrastructure investments on increasing energy efficiency and utilizing clean electricity for operations
• Modernizing natural gas infrastructure to minimize methane leaks and increase safety and reliability

The company also will seek to reduce emissions beyond its own operations by continuing to advocate for sound climate policies, partnering with state and local leaders to achieve community emissions goals, and piloting new grid technologies, among other actions. With transportation accounting for more than half of all carbon emissions, each of the six Exelon utilities has taken steps to support electric vehicle adoption in their jurisdictions. The company also continues to prioritize innovative energy efficiency programs, which in 2020 helped customers save money on their energy bills and reduced usage by 22.3 million megawatt hours, or the equivalent energy use of 932,000 average homes for a year.

As the company moves toward net-zero, another key priority will be to ensure that the economic, jobs and environmental benefits of clean energy are shared equally.

“Equity is central to everything we do at Exelon Utilities, and that mindset guides us in achieving this ambitious goal and combatting the effects of climate change, which have a disproportionate impact on underserved and under-resourced communities,” Butler said. “That same focus on equity is critical to an economy-wide transformation as well, and our company will be a leader in advocating for policy measures and technology solutions that help all communities thrive.”

Additional details on Exelon’s GHG emissions management and accounting program can be found in the 2020 Corporate Sustainability Report.

*The goal to reduce emissions 50 percent by 2030 is relative to a 2015 emissions baseline.

About Exelon

Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.

Paul Adams
Exelon Media Relations
410-245-8717
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HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) and VoltaGrid LLC today announced the first successful deployment of an advanced electric fracturing solution. This project is the first pad in a multi-year contract with Chesapeake Energy Corporation (NASDAQ: CHK) with more than 140 stages in the Marcellus. It combines Halliburton’s all-electric fracturing spread featuring the Zeus™ 5,000 horsepower (HHP) electric pumping unit with VoltaGrid’s advanced power generation system. This high-performing solution reduced emissions for Chesapeake by 32% and applied over 25 megawatts of lower-carbon power generation by leveraging Chesapeake’s local field gas network.

“By safely reducing our emissions profile without impacting the reliability and performance of our operations, this partnership has exceeded our expectations and further demonstrates our commitment to leading a responsible energy future as we continue on our path towards achieving net-zero direct emissions,” said Patrick Finney, Chesapeake’s Vice President – Completions.

Chesapeake credited the two technologies for reducing emissions and driving additional fuel savings. Unlike other pumping units that may average around 3,000 HHP, a single Zeus pumping unit delivers 5,000 HHP at over 22 barrels per minute (BPM). Halliburton’s all-electric spread features a newly designed large-bore, dual-manifold trailer, which allows the Zeus pumps to achieve higher rate capacities with fewer failure points. With its electric-based powertrain and industry leading pump technology, the Zeus pumping unit delivers 40% higher performance than conventional pumps. This spread also provides electric blending, wireline, and ancillary equipment.

“Halliburton’s Zeus fracturing operation exceeds expectations of what is possible with electric fracturing technology,” says Michael Segura, vice president of Halliburton Production Enhancement. “Being able to sustainably deliver higher performance on a prolonged basis reflects the performance and reliability built into this electric pumping equipment.”

Using VoltaGrid’s emissions portal, Chesapeake can track and analyze real-time emissions and carbon intensity throughout the completions operation, allowing the operator to maximize fuel efficiency and minimize emissions.

“Chesapeake is the first operator to use the VoltaGrid system on an electric frac operation,” said Nathan Ough, CEO of VoltaGrid. “The exceptional performance of VoltaGrid allowed Chesapeake to quickly scale power generation to meet the high intermittent demands of a modern completions design.”

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.

About VoltaGrid LLC

VoltaGrid is an advanced energy management and generation company that has developed an innovative platform to provide power, energy storage, and emissions reductions for the pressure pumping, remote mining, utility, and distributed generation industries. VoltaGrid’s fully integrated artificial intelligence platform provides live emissions tracking, asset carbon intensity, automated back-office management, and ESG reporting on a centralized database. Learn more at voltagrid.com.

For Halliburton
Investors:
Abu Zeya
Halliburton, Investor Relations
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281-871-2633

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Halliburton, Public Relations
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281-871-2601

For VoltaGrid
Nathan Ough
President & CEO
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281-636-3074

DUBLIN--(BUSINESS WIRE)--The "Marine Insurance Market By Type, Distribution Channel, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2028" report has been added to ResearchAndMarkets.com's offering.

Marine insurance provides coverage for loss or damage of ships, cargo, terminals, and any other transport engaged in transferring & acquiring of goods held between the points of origin and the final destination.

This insurance policy relies on the principle of utmost good faith. Furthermore, hull insurance, cargo insurance, marine liability insurance, and offshore/energy insurance are the major coverages covered by marine insurance. It provides several policies including floating policy, voyage policy, time policy, mixed policy, fleet policy, and single vessel policy.

Huge losses and higher concentrations of cargo in warehouses, ports & in transit are propelling the demand for marine insurance globally. In addition, increased implementation of telematics which enables real-time tracking & monitoring telematic information regarding the activity of insured vessels are major factors that drive the market growth.

However, imposition of lockdown with stringent measures across several countries and sudden increments in marine insurance premiums are some of the factors that hamper the market growth.

On the contrary, developing economies, such as India, South Korea, Taiwan, and Vietnam, are witnessing high growth in their manufacturing sector. Therefore, expansion of business and supply of goods & services are expected to provide an immense opportunity to the marine insurance market.

Moreover, several benefits such as facilitating loss prediction & prevention, risk monitoring, and simplifies claims processing provided with an incorporation of IoT promote the demand for marine insurance in the coming years.

The report analyses the profiles of key players operating in the marine insurance market such as Allianz, American International Group, Inc., Aon plc, Arthur J. Gallagher & Co., AXA, Chubb, Lloyd's, Lockton Companies, Marsh LLC, and Zurich.

These players have adopted various strategies to increase their market penetration and strengthen their position in the marine insurance industry.

Key Topics Covered:

Chapter 1: Introduction

Chapter 2: Executive Summary

Chapter 3: Market Landscape

3.1. Market Definition And Scope

3.2. Key Findings

3.2.1. Top Investment Pockets

3.2.2. Top Winning Strategies

3.3. Porter's Five Forces Analysis

3.4. Market Share Analysis/Top Player Positioning 2020

3.5. Market Dynamics

3.6. Covid-19 Impact Analysis On Marine Insurance Market

Chapter 4: Marine Insurance Market By Type

4.1. Overview

4.2. Cargo Insurance

4.3. Hull & Machinery Insurance

4.4. Marine Liability Insurance

4.5. Offshore/Energy Insurance

Chapter 5: Marine Insurance Market By Distribution Channel

5.1. Overview

5.2. Wholesalers

5.3. Retail Brokers

Chapter 6: Marine Insurance Market By End User

6.1. Overview

6.2. Ship Owners

6.3. Traders

Chapter 7: Marine Insurance Market By Region

Chapter 8: Company Profiles

• Allianz
• American International Group Inc.
• Aon plc
• Arthur J. Gallagher & Co.
• AXA
• Chubb
• Lloyd's
• Lockton Companies
• Marsh LLC
• Zurich

For more information about this report visit https://www.researchandmarkets.com/r/io9gqd

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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KANSAS CITY, Mo.--(BUSINESS WIRE)--CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) ("CorEnergy" or the "Company") announced today that it will report earnings results for its second quarter, ended June 30, 2021, on August 9, 2021.

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

A replay of the call will be available until September 8, 2021, by dialing +1-919-882-2331. The Conference ID is 40741. A replay of the conference call will also be available on the Company’s website.

About CorEnergy Infrastructure Trust, Inc.

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

Forward-Looking Statements

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although CorEnergy believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in CorEnergy's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, CorEnergy does not assume a duty to update any forward-looking statement. In particular, any distribution paid in the future to our stockholders will depend on the actual performance of CorEnergy, its costs of leverage and other operating expenses and will be subject to the approval of CorEnergy's Board of Directors and compliance with leverage covenants.

Source: CorEnergy Infrastructure Trust, Inc.

CorEnergy Infrastructure Trust, Inc.
Investor Relations
Debbie Hagen or Matt Kreps
877-699-CORR (2677)
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• Industry-Leading Provider of Industrial Cleaning and Specialty Infrastructure Services Expands Clean Harbors’ Industrial and Field Services Offerings
• Complementary and Diverse Customer Base and Services Create Significant Cross-Selling and Margin Improvement Opportunities
• Transaction Expected to Close in 2021

NORWELL, Mass.--(BUSINESS WIRE)--Clean Harbors, Inc. (“Clean Harbors”) (NYSE: CLH) today announced it has entered into a definitive agreement to acquire HydroChemPSC (HPC), from an affiliate of Littlejohn & Co., LLC, for $1.25 billion in an all-cash transaction. HPC is a leading U.S. provider of industrial cleaning, specialty maintenance and utilities services. The acquisition, which is subject to regulatory approval and other customary closing conditions, is expected to close in 2021.

With more than 240 service locations throughout the country, HPC serves a broad range of end markets including refining, chemical and utilities. Its services are built around providing solutions to customers focused on cleaning, maintenance and environmental compliance of essential, mission critical equipment and infrastructure.

“In a business where brand equity, customer service and reputation for safety are important, HPC is a recognized leader with terrific assets that will enhance our Environmental Services capabilities, particularly in the higher-value areas of specialty work and facility services,” said Alan S. McKim, Chairman, President and Chief Executive Officer of Clean Harbors. “This acquisition highlights our disciplined approach to M&A, which is geared around accretive transactions that create multiple cross-selling opportunities and drive waste into our network.”

HPC expects to generate revenues of approximately $744 million in 2021, with full-year Adjusted EBITDA of approximately $115 million. Clean Harbors estimates it can achieve cost synergies of $40 million from the acquisition after the first full year of operations, which would equate to a purchase multiple of 8.1 times on a post-synergized basis. The Company expects to fund the acquisition through a combination of available cash and the issuance of additional debt.

Key Strategic Benefits

Clean Harbors’ planned acquisition of HPC offers significant strategic benefits, including:

• Brings on a talented and experienced leadership team with a track record of growth
• Increases the size, scale and capabilities of the Industrial Services and Field Services businesses
• Drives incremental volumes of waste into Clean Harbors’ incinerators, landfills and other waste treatment facilities
• Adds deep customer relationships, including 180+ embedded locations
• Improves Industrial Services safety profile through more automation and hands-free technologies
• Generates considerable cross-selling opportunities, particularly in disposal and emergency response
• Captures significant synergies in areas such as customer service, transportation, branch network, asset rentals, vehicle and tank refurbishment, subcontracting and procurement

HPC has more than 5,000 employees and operates a sizeable fleet of specialized vehicles and equipment. The fleet consists of more than 5,600 units including vacuum trucks, roll-off trucks, high pressure water blasters, and light duty vehicles. In addition, HPC is the only provider of industrial cleaning and specialty services with a dedicated manufacturing and technology center. HPC’s proprietary technology and ability to fabricate and create custom tools for complex or unique applications gives them a true competitive advantage.

“With its commitment to safety, innovation and environmental compliance, HPC operates on the same principles as Clean Harbors,” McKim said. “That cultural alignment is a big part of what makes this an exciting acquisition for us and why we look forward to adding their talented team of employees.”

Brad Clark, President and CEO of HydroChemPSC, said, “As a leading provider of environmental and industrial services, Clean Harbors represents the ideal buyer of HPC. Through this transaction, our organization gains access to considerable resources, a broader suite of offerings and the largest network of permitted disposal and recycling assets in North America. We are confident that this combination will provide a meaningful benefit to our customers while enriching career opportunities for HPC employees.”

“One of the many reasons we were attracted to HPC is its differentiated technology, which provides safe, highly efficient and more profitable cleaning and specialty solutions,” McKim said. “HPC leads the industry when it comes to hands-free technologies and automation for industrial services. Part of our ESG efforts have been focused on ensuring the safety of our people and our customers. The acquisition of HPC is another important step in that direction.”

McKim concluded, “We are confident that this transaction will build substantial shareholder value in the years ahead. HPC’s specialty services and leading technology position will enable us to become closer to our customers and improve our Environmental Services business. The operational, productivity and sales synergies are broad-based and achievable. We have built a business model that generates strong cash flow, enabling us to continually reinvest in and grow our business. Given its track record, HPC should only enhance that cash flow generation going forward.”

Goldman Sachs is serving as financial advisor to Clean Harbors and is providing a $1.0 billion debt commitment for the transaction. Davis, Malm & D’Agostine is serving as legal counsel to Clean Harbors. For HydroChemPSC, Moelis & Company is serving as financial advisor and Troutman Pepper Hamilton Sanders is serving as legal counsel.

About Clean Harbors

Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, energy and manufacturing, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the United States, Canada, Mexico, Puerto Rico and India. For more information, visit www.cleanharbors.com.

Safe Harbor Statement

Any statements contained herein that are not historical facts, including information related to the definitive agreement to acquire HydroChemPSC are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans to,” “seeks,” “should,” “estimates,” “projects,” “may,” “likely,” or similar expressions. Such statements may include, but are not limited to, statements about future financial and operating results, and other statements that are not historical facts. Such statements are based upon the beliefs and expectations of Clean Harbors’ management as of this date only and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, without limitation, the risks and uncertainties surrounding the proposed Clean Harbors and HydroChemPSC transaction, and those items identified as “Risk Factors” in Clean Harbors’ most recently filed Form 10-K and Form 10-Q. Forward-looking statements are neither historical facts nor assurances of future performance. Therefore, readers are cautioned not to place undue reliance on these forward-looking statements. Clean Harbors undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements other than through its filings with the Securities and Exchange Commission, which may be viewed in the “Investors” section of Clean Harbors’ website at www.cleanharbors.com.

Michael L. Battles
EVP and Chief Financial Officer
Clean Harbors, Inc.
781.792.5100
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Jim Buckley
SVP Investor Relations
Clean Harbors, Inc.
781.792.5100
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AvalonBay’s 407-unit luxury rental at 27 Barker Avenue in White Plains, N.Y. hosts first-in-class indoor battery storage system with interactive grid management

AvalonBay sets new paradigm with indoor lithium-ion battery storage paired with Logical Buildings’ virtual power plant platform to serve the grid and community

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--#AvalonBayCommunities--AI innovator Logical Buildings, in collaboration with AvalonBay Communities, Inc., has installed the first indoor lithium-ion battery storage unit in New York State at Avalon White Plains, a 407-unit luxury rental property at 27 Barker Avenue in White Plains, NY. The circa 2008 master-metered building is now benefiting from a demand-response initiative in which a 144kW battery bank discharges at peak hours to support the electricity grid when under stress; and re-charges at off-peak times to take advantage of low cost, low carbon emission power. Another advantage is the battery is able to serve as a generator in the event of power outages.

“This is a game-changing technology that will mitigate power outages during peak hours, not only benefiting the building but the entire city of White Plains,” said Jeff Hendler, CEO of Logical Buildings. “The fact that AvalonBay is the first in the entire state to debut this technology is a testament to the organization’s commitment to decarbonization and sustainability.

“The Northeast has traditionally lagged behind the West Coast in battery installation and AMI meter-based grid responsive building technology. But this project paves the way for buildings in the region to take advantage of the most efficient battery tech.”

The indoor installation of the lithium-ion battery, which is comparable in size to two side-by-side refrigerators, required new safety guidelines commensurate with the revolutionary technology. Building codes were updated and an intensive review process initiated by the City of White Plains included industry peers and utility provider Con Edison. With unwavering support from NYSERDA, Logical Buildings was able to navigate funding and permits from the various entities. Moreover, through the leadership demonstrated by AvalonBay and Logical Buildings, it is anticipated similar indoor battery installations will be implemented in other high-density areas throughout the state, including New York City.

Mr. Hendler continued, “In addition to taking pressure off the grid and contributing to de-carbonization, the program is providing significant savings in utility costs at the building. We have worked with AvalonBay on several utility grid-resiliency programs over the years, but this was an especially cooperative endeavor that will have far-reaching benefits for their properties and beyond.”

On July 27, the battery participated in a two-hour demand-response event called by local utility, Con Edison. The building provided ~100kW from discharging the battery and another ~50kW by reducing demand from other systems, such as cooling and lighting. This is an example of one way the battery contributes to grid stability when demand is highest.

AvalonBay purchased both the Stem battery and its proprietary Athena AI software analytics systems to reduce daily peak demand through charging and discharging. Logical Buildings worked with Stem to integrate the demand-response signals being received by its SmartKit AI™ software into battery demand-response algorithms that automatically optimize battery discharge during four-hour load reduction windows.

“The battery system transforms Avalon White Plains into a hybrid smart building, which intelligently sources power from the grid and onsite battery based on multiple parameters, including electricity pricing, billing demand, building systems, and grid conditions,” added Abhay Ambati, Senior Vice President, Technology Services at Logical Buildings. “Beyond adding resiliency and cost savings for the Avalon community, the battery will support important environmental, social and governance (ESG) goals, such as the installation of electric vehicle (EV) charging stations.”

“With the White Plains battery, we have reached another important milestone in our decarbonization journey,” noted Mark Delisi, Vice President of Corporate Responsibility and Energy Management at AvalonBay. “The future of AvalonBay is one that will source clean, renewable energy for our communities in combination with onsite storage. We learned a great deal in partnership with Logical Buildings, STEM, and NYSERDA, which will serve us well in future applications.”

Immediately after going live in June during the first heatwave of the summer, the lithium-ion battery was able to offer 50kW of demand reduction at the building for two consecutive days. It is anticipated the battery will deploy at least four times per month over the summer.

About Logical Buildings

Logical Buildings is a smart building technology software developer, IoT and DER systems integrator, and smart building services provider. Integration of Logical Buildings’ products and services in large multifamily, commercial, industrial, and manufacturing properties are recognized for reducing operating expenses, generating revenue from existing mechanical equipment, and enabling wireless connectivity. Its Smartkit AI, Smart Building AI IoT platform and software analytics, and EPAX Energy Procurement Advisory and Execution software platforms are contracted to owners and operators of more than 200 million square feet nationwide. Logical Buildings introduced the consumer based GridRewards™ in a pilot program in summer 2020 and fully launched the app in late 2020. Logical Buildings (formerly "ETS - Energy Technology Savings") currently serves more than 60 million square feet of major multifamily and mixed-use properties in urban markets. GridRewards™ is currently available to more than 4 million households and businesses. www.logicalbuildings.com

About AvalonBay Communities, Inc.

As of March 31, 2021, the Company owned or held a direct or indirect ownership interest in 290 apartment communities containing 85,787 apartment homes in 11 states and the District of Columbia, of which 15 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, Southeast Florida, Denver, Colorado, the Pacific Northwest, and Northern and Southern California. More information may be found on the Company’s website at http://www.avalonbay.com.

Linda Alexander
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1 917.881.5360

Ameresco ranked ahead of category competitors with nearly 17% of total ESCO market share

FRAMINGHAM, Mass.--(BUSINESS WIRE)--#atlasenergyintelligence--Atlas Energy Intelligence recently ranked Ameresco, Inc. (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, as the U.S. energy service company (ESCO) market leader by revenue for 2020-2022, according to its June 2021 report, “The North American Energy Service Company (ESCO) Market.”

Currently, the U.S. ESCO market is dominated by ten major organizations that collectively represent 70% of the industry. Ameresco leads the pack with an estimated 16.9% share of the market by revenue.

The report offers a comprehensive overview of the U.S. and Canadian ESCO markets and provides clarity on the opportunities afforded to market participants by the energy transition. As government agencies face increasing pressure to take definitive action on climate change and innovate economic rebuilding efforts in the wake of the Covid-19 pandemic, ESCOs are poised to play an integral role in developing clean energy and diversifying offered energy solutions.

“When I started this company over 20 years ago, the importance of sustainability was not a topic that other businesses and the greater public were openly focused on,” said Ameresco CEO and Founder George Sakellaris. “Finally, we’ve reached a point where those conversations are no longer just conversations. They’re innovative, tangible projects that are actively transforming the way we view our world and are gaining us recognition by esteemed organizations like Atlas Energy Intelligence. We are honored to be included in such a notable ranking and cannot wait to continue this upward trajectory.”

According to Atlas Energy Intelligence, the North American ESCO market will increase from $4.9B in 2021 to $6.5B in 2027 at a compound annual growth rate of 4.8% across all customer sectors. Organizations are drawn to ESCOs for their ability to help businesses achieve lower energy costs, reduce carbon emissions and boost resiliency.

“ESCOs today are called upon to go beyond energy efficiency and offer innovative distributed energy solutions that help customers address priorities such as decarbonization, resiliency, and others,” said Eric Bloom, managing director at Atlas Energy Intelligence. “In recent years, Ameresco has emerged as a market leader in the U.S. federal sector, and the company’s development of a broadened solutions portfolio has positioned them well for continued growth.”

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

About Ameresco, Inc.

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

About Atlas Energy Intelligence

Atlas Energy Intelligence is a market research and strategy consulting firm that helps all types of organizations - manufacturers, project developers and integrators, utilities, government agencies, and others - navigate the rapidly changing clean energy landscape by providing best-in-class market intelligence. The company’s deep expertise in analyzing market developments for renewable energy, energy efficiency, intelligent grid technologies, smart cities, and other segments of the clean energy sector helps position market leaders for success in the ongoing energy transition, providing them with the insights needed to sharpen their strategies, expand into new markets, and take advantage of transformational changes underway in the energy sector. To learn more, visit www.atlasenergyintel.com.

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

Highlights:

• Receives Increment II/III award to replace aging deep-water and new shallow-water ranges
• Sustains and enhances airborne, surface and undersea Navy readiness and proficiency
• Extends 60-year partnership providing Navy with undersea training range technology

MELBOURNE, Fla.--(BUSINESS WIRE)--The U.S. Navy has awarded L3Harris Technologies (NYSE:LHX) a $393 million contract to install increments II and III of the Undersea Warfare Training Range (USWTR).

The award follows nearly 10 years of execution by L3Harris on Increment I and will replace and upgrade the remaining underwater training range sites.

USWTR Increment I included installing the ocean sensor and shore electronics subsystems instrumenting the approximately 500-square-nautical-mile area near Jacksonville, Florida. Under Increments II and III, L3Harris will upgrade and replace the previously installed systems at the U.S. Navy’s three other range locations near Hawaii, Bahamas and Southern California.

The USWTRs enable ships, submarines and aircraft to track targets on the surface and subsurface for anti-submarine warfare training. The ranges each include more than 600 miles of undersea cables, several hundred sophisticated acoustic sensors, as well as shore-based control, display and processing facilities.

“I’m proud of our team for delivering Increment I two years early so we could accelerate this award to support the sailors and provide them with early access to the best undersea range technology available to maintain operational readiness,” said Christopher E. Kubasik, Chief Executive Officer, L3Harris. “For six decades in partnership with both our U.S. and international Navy customers, L3Harris has successfully developed, manufactured, installed and supported undersea training range technology. Our capabilities ensure that sailors train in an environment that is as close to their mission environment as possible, giving them a competitive advantage.”

About L3Harris Technologies

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $18 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. L3Harris.com.

Forward-Looking Statements

This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the value or expected value of orders, contracts or programs or about technology capabilities or delivering early or achieving initial operational capability ahead of schedule are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Media Contacts:
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• Achieves 30% Increase in Q2 Revenues to $926.5 Million
• Delivers Q2 Net Income of $67.1 Million, or EPS of $1.22, with Adjusted EPS of $1.19
• Reports Q2 Adjusted EBITDA of $187.8 Million, a 36% Increase; Margin Improves by 80 Basis Points to 20.3%
• Unveils Incineration Expansion Plan at Kimball, Nebraska Facility Where New State-of-the-Art Kiln will be Constructed
• Announces Plans to Acquire HydroChemPSC for $1.25 Billion (See Separate News Release Issued Today)
• Raises 2021 Adjusted EBITDA and Adjusted Free Cash Flow Guidance

NORWELL, Mass.--(BUSINESS WIRE)--Clean Harbors, Inc. (“Clean Harbors”) (NYSE: CLH), the leading provider of environmental and industrial services throughout North America, today announced financial results for the second quarter ended June 30, 2021.

“Our second-quarter financial results far exceeded our guidance, as we benefitted from a steady flow of high-value waste streams into our disposal network and a strong performance within our Safety-Kleen Sustainability Solutions business,” said Alan S. McKim, Chairman, President and Chief Executive Officer. “These factors, coupled with a rebound in demand for many of our service offerings, drove substantial revenue growth and the highest second-quarter Adjusted EBITDA, Adjusted EBITDA margin and adjusted free cash flow in the Company’s history. Positive underlying market trends helped generate growth across all key lines of business.”

Second-Quarter 2021 Results
Revenues increased 30% to $926.5 million from $710.0 million in the same period of 2020. Income from operations grew 83% to $110.0 million from $60.2 million in the second quarter of 2020.

Net income was $67.1 million, or $1.22 per diluted share. This compares with net income of $29.0 million, or $0.52 per diluted share, for the same period in 2020. Adjusted for certain items in both periods, adjusted net income was $65.4 million, or $1.19 per diluted share, for the second quarter of 2021, compared with adjusted net income of $28.9 million, or $0.52 per diluted share, in the same period of 2020. (See reconciliation tables below)

Adjusted EBITDA (see description below) increased 36% to $187.8 million from $138.3 million in the same period of 2020. Benefits from Canadian and U.S. government assistance programs accounted for $5.2 million of contributions in the second quarter of 2021 compared with $23.4 million in the same period of 2020.

Q2 2021 Review
“Within our Environmental Services segment, revenues increased 18% from a year ago and 11% from Q1, fueled by growth in disposal and recycling volumes and a surge in Industrial Services activity,” McKim said. “Our incineration network continued to see strong demand, particularly for high-value waste streams, leading to utilization of 87% and a 5% increase in the average price per pound from a year ago. Our landfill business rebounded after several challenging quarters due to the pandemic, as volumes grew 13% and the average price increased 10%. Our Safety-Kleen Environmental branches continued their steady recovery, with quarterly parts washer services reaching 240,000 for the first time since the pandemic began. We also saw a meaningful contribution from our Industrial Services business with more than 50% growth driven by a backlog of deferred maintenance by customers during the past year.”

“Our Safety-Kleen Sustainability Solutions (SKSS) segment delivered extraordinary growth and profitability in the quarter, as our new segment continues to benefit from the combination of our waste oil collection with our SK Oil business. The supply shortages for base and blended oil, along with the impacts of IMO 2020, created a highly favorable pricing environment,” McKim said. “These market conditions led to the widening spread in our used oil market. Segment revenue was up 32% from the first quarter and more than doubled from a year ago, when the pandemic temporarily shut down more than half of our re-refining plants. Adjusted EBITDA in the segment doubled from Q1 and was up more than seven-fold from a year ago. Waste oil collections grew to 57 million gallons from 47 million in the first quarter and from 43 million a year ago.”

In late June, Clean Harbors announced the signing of a definitive agreement with Vertex Energy, Inc. (NASDAQ: VTNR) to acquire certain assets related to Vertex’s used motor oil collection and re-refinery business in an all-cash transaction for $140 million, subject to working capital and other adjustments. The acquisition is now expected to close toward the end of the current quarter of 2021 or shortly thereafter, subject to approval by U.S. regulators and Vertex shareholders, and other customary closing conditions.

Company Announces Planned Expansion of Incineration Network Capacity
Clean Harbors plans to construct a 70,000-ton hazardous waste incinerator at the Company’s plant in Kimball, Nebraska, which specializes in the destruction of hazardous and non-hazardous materials. The advanced new kiln will more than double annual incineration capacity at the 600-acre site to nearly 130,000 tons. Costing approximately $180 million to permit and construct over a four-year time frame, the new incinerator will add over 100 full-time workers upon completion.

“Clean Harbors is proud to make this investment in Nebraska to provide much needed environmental service capabilities to the Western U.S.,” McKim said. “We are excited to build upon our longtime relationship with the Kimball community, and confident these new jobs and increased business activity will benefit the economy of the region and the entire state.”

The Kimball expansion will be designed as North America’s most technologically advanced hazardous waste incinerator, equipped with world-class air emissions control technology that exceeds the Federal Clean Air Act’s most stringent air emissions standards. The plant will be only the second U.S. commercial hazardous waste incinerator to come online in the past 25 years, along with Clean Harbors El Dorado incinerator that opened in early 2017.

“While there is a lengthy permitting process and complex construction requirements, we are targeting having this facility operational in late 2024 and accepting waste in the first half of 2025,” McKim said. “We are confident that incineration demand – driven by the ongoing U.S. chemical and manufacturing expansion, and the continuing reduction of captive incinerators – will enable our additional capacity to be readily absorbed when it opens.”

Business Outlook and Financial Guidance
“We enter the second half of 2021 with considerable momentum across all our key markets, backed by a promising North American economic environment. We expect a record-setting financial year for the Company,” McKim concluded. “Within our Environmental Services segment, we see encouraging signs for steady waste volumes, project work and rising demand for our broad suite of service offerings. With the planned acquisition of HydroChemPSC, we will significantly bolster our capabilities within Industrial Services and Field Services while driving more volumes into our network. Within our SKSS segment, we see our used oil to base oil pricing spread extending until later in the year, and we will continue to see the benefits of separating out this segment. We will continue to capitalize on the opportunities afforded by these current market conditions, and look forward to adding the Vertex facilities, personnel and waste oil collection assets to this segment. Overall, we continue to maintain a favorable outlook in both of our segments for the remainder of the year and into 2022.”

Based on its second-quarter financial performance and current market conditions, Clean Harbors is raising its 2021 guidance. For the year, the Company currently expects:

• Adjusted EBITDA in the range of $620 million to $650 million, based on anticipated GAAP net income in the range of $159 million to $193 million; and
• Adjusted free cash flow in the range of $285 million to $315 million, based on anticipated net cash from operating activities in the range of $475 million to $525 million.

For the third quarter of 2021, Clean Harbors expects Adjusted EBITDA to be at a level similar to or slightly above the third quarter of 2020, when the Company recognized $13.3 million from government assistance programs.

Non-GAAP Results
Clean Harbors reports Adjusted EBITDA, which is a non-GAAP financial measure and should not be considered an alternative to net income or other measurements under generally accepted accounting principles (GAAP), but viewed only as a supplement to those measurements. Adjusted EBITDA is not calculated identically by all companies, and therefore the Company’s measurement of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. Clean Harbors believes that Adjusted EBITDA provides additional useful information to investors since the Company’s loan covenants are based upon levels of Adjusted EBITDA achieved and management routinely evaluates the performance of its businesses based upon levels of Adjusted EBITDA. The Company defines Adjusted EBITDA in accordance with its existing revolving credit agreement, as described in the following reconciliation showing the differences between reported net income and Adjusted EBITDA for the three and six months ended June 30, 2021 and 2020 (in thousands, except percentages):

This press release includes a discussion of net income and earnings per share adjusted for the loss on sale of businesses and the impacts of tax-related valuation allowances as identified in the reconciliations provided below. The Company believes that discussion of these additional non-GAAP measures provides investors with meaningful comparisons of current results to prior periods’ results by excluding items that the Company does not believe reflect its fundamental business performance. The following shows the difference between net income and adjusted net income, and the difference between earnings per share and adjusted earnings per share, for the three and six months ended June 30, 2021 and 2020 (in thousands, except per share amounts):

Adjusted Free Cash Flow Reconciliation
Clean Harbors reports adjusted free cash flow, which it considers to be a measurement of liquidity that provides useful information to investors about its ability to generate cash. The Company defines adjusted free cash flow as net cash from operating activities excluding cash impacts of items derived from non-operating activities, less additions to property, plant and equipment plus proceeds from sale and disposal of fixed assets. The Company excludes cash impacts of items derived from non-operating activities such as taxes paid in connection with divestitures and in 2020 have also excluded cash paid in connection with the purchase of its corporate headquarters and certain capital improvements to the site as these expenditures are considered one-time in nature. Adjusted free cash flow should not be considered an alternative to net cash from operating activities or other measurements under GAAP. Adjusted free cash flow is not calculated identically by all companies, and therefore the Company’s measurement of adjusted free cash flow may not be comparable to similarly titled measures reported by other companies.

An itemized reconciliation between net cash from operating activities and adjusted free cash flow is as follows for the three and six months ended June 30, 2021 and 2020 (in thousands):

Adjusted EBITDA Guidance Reconciliation
An itemized reconciliation between projected GAAP net income and projected Adjusted EBITDA is as follows (in millions):

Adjusted Free Cash Flow Guidance Reconciliation
An itemized reconciliation between projected net cash from operating activities and projected adjusted free cash flow is as follows (in millions):

Conference Call Information
Clean Harbors will conduct a conference call for investors today at 9:00 a.m. (ET) to discuss the information contained in this press release. During the call, management will discuss Clean Harbors’ financial results, business outlook and growth strategy. Investors who wish to listen to the webcast and view the accompanying slides should visit the Investor Relations section of the Company’s website at www.cleanharbors.com. The live call also can be accessed by dialing 201.689.8881 or 877.709.8155 prior to the start time. If you are unable to listen to the live conference call, the webcast will be archived on the Company’s website.

About Clean Harbors
Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, energy and manufacturing, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the United States, Canada, Mexico, Puerto Rico and India. For more information, visit www.cleanharbors.com.

Safe Harbor Statement
Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans to,” “seeks,” “should,” “estimates,” “projects,” “may,” “likely,” or similar expressions. Such statements may include, but are not limited to, statements about future financial and operating results, the definitive agreement to acquire HydroChemPSC and other statements that are not historical facts. Such statements are based upon the beliefs and expectations of Clean Harbors’ management as of this date only and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, without limitation, the risks and uncertainties surrounding the proposed Clean Harbors and HydroChemPSC transaction, and those items identified as “Risk Factors” in Clean Harbors’ most recently filed Form 10-K and Form 10-Q. Forward-looking statements are neither historical facts nor assurances of future performance. Therefore, readers are cautioned not to place undue reliance on these forward-looking statements. Clean Harbors undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements other than through its filings with the Securities and Exchange Commission, which may be viewed in the “Investors” section of Clean Harbors’ website at www.cleanharbors.com.

Michael L. Battles
EVP and Chief Financial Officer
Clean Harbors, Inc.
781.792.5100
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Jim Buckley
SVP Investor Relations
Clean Harbors, Inc.
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Delivering Titanium with Better Than Wrought Elongation and Tensile Strength Exceeding Industry Standards, Desktop Metal Is the First Company to Commercialize Titanium for Bound Metal Production of High-Strength, Lightweight Components

BOSTON--(BUSINESS WIRE)--#3Dprint--Desktop Metal (NYSE:DM), a leader in mass production and turnkey additive manufacturing solutions, today announced it has qualified the use of titanium alloy Ti-6Al-4V (Ti64) for the Studio System 2™, an accessible metal 3D printing platform that offers customers the easiest way to print high-performance metal parts in low volumes for pre-production and end-use applications. With plans to begin shipping Ti64 next month, Desktop Metal will be the first and only company to make the material commercially available for extrusion-based bound metal additive manufacturing technologies.

Ti64 is the most widely used titanium alloy and is characterized by its high tensile strength, corrosion resistance, and biocompatibility. With a high strength-to-weight ratio, Ti64 is considered an ideal material for high-performance production applications in industries such as aerospace and defense, automotive, and oil and gas. In addition, its biocompatibility makes it particularly desirable in medical applications, such as with surgical devices and implants.

The Studio System 2 produces Ti64 with exceptional mechanical properties. Tensile properties include 730 MPa yield strength, 845 MPa ultimate tensile strength, and 17 percent elongation. These mechanical properties exceed those set by ASTM F2885-17 standards for metal injection molded surgical implant applications.

“Titanium has been a challenging material for bound metal 3D printing because it is both extremely reactive in powder form and difficult to sinter,” said Jonah Myerberg, co-founder and CTO of Desktop Metal. “We are excited to be the first to commercialize the most common titanium alloy, Ti64, for 3D printing through our Studio System 2 solution, opening the door to more accessible production of high-performance titanium parts.”

“3D printing with titanium is incredibly valuable in industries like aerospace because of the material’s ability to support complex and lightweight designs,” said Steve Wozniak, co-founder of Privateer Space, a new satellite company focused on monitoring and cleaning up objects in space. “With the Studio System 2, the team at Privateer Space will be able to achieve the affordability and lightweighting capabilities needed to pave the way for our satellite design and launch. This technology is truly a differentiator in helping companies to accelerate innovations in space and, through the material advancements that Desktop Metal is making, we have an amazing opportunity to collaborate and keep space accessible for future generations.”

Titanium - Key Applications

With the Studio System 2, Ti64 parts demonstrate excellent mechanical properties and corrosion resistance on a more accessible platform than legacy powder bed fusion 3D printing alternatives. Examples of key uses cases include:

• Machine Bracket
  This machine bracket has been designed using a gyroid lattice infill and titanium in place of 17-4PH stainless steel to reduce weight and material while maintaining the required functional strength and stiffness. The resulting geometry would be impossible to produce using conventional manufacturing processes due to its complexity. 3D printing this new design on the Studio System 2 in Ti64 reduces the part weight by 59 percent.

• Telescope Focus Ring
  Small telescope focus rings hold lenses in place on a mobile telescope, which has multiple motors that are used to position and focus the lenses. 3D printing the rings in titanium ensures that all components are lightweight, allowing the use of smaller motors, reducing the wear on the components and the overall cost of the assembly. Typically this part is produced in low volumes, which would require investing in expensive tooling or custom fixturing using conventional manufacturing processes. The Studio System 2 supports printing up to six focus rings in less than 24 hours, which would be ready for installation in a matter of days.

• Drone Coupling
  A drone coupling is used to fasten two assemblies together on a drone frame. One of the main challenges with drones is battery life, which is predominantly determined by the weight of the drone. Producing the coupling in titanium enables significant weight reduction while maintaining the structural integrity required for the drone frame. The Studio System 2 supports low volume production of this part in quantities of 15 to 25 per week before moving it into mass production, all without any tooling or machining necessary.

• Fuel Injector Nozzle
  Fuel injector nozzles are critical for safe and reliable operations in the aerospace industry, where they are responsible for driving fuel into a burner for propulsion. This part features internal channels that can result in enhanced burner performance but would be impossible to create using conventional manufacturing processes. Titanium is an essential material for this application as the nozzle needs to be able to withstand extreme temperatures and pressures while remaining lightweight. With the Studio System 2, engineers can test many design variations of the nozzle in just days with as many as four versions of the nozzle printed in less than 24 hours.

The Studio System 2 - Office-Friendly Metal 3D Printing

The Studio System 2 is an office-friendly metal additive manufacturing system that leverages Desktop Metal’s proprietary Bound Metal Deposition™ (BMD) technology to produce parts. The easy, two-step process provides a nearly hands-free experience, while eliminating loose powders and dangerous lasers commonly associated with metal 3D printing. Consisting of a printer and furnace, the Studio System 2 simplifies in-house low volume production of a wide range of complex geometries with outstanding surface finish and high-performance mechanical properties.

The Studio System 2 is compatible with 316L stainless steel and Ti64 as well as all materials previously supported by the Studio System, including 17-4PH stainless steel, 4140 low-alloy steel, H13 tool steel, and copper. A broad portfolio of additional materials that take advantage of the Studio System 2’s streamlined, two-step process is in active R&D with new releases slated to roll out this year.

Ti64 for Studio System 2 is expected to ship September 2021. To learn more about the Studio System 2 and applications for titanium, visit www.desktopmetal.com.

About Desktop Metal

Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with an expansive portfolio of 3D printing solutions, from rapid prototyping to mass production. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make additive manufacturing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum and named to MIT Technology Review’s list of 50 Smartest Companies. For more information, visit www.desktopmetal.com.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks, uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to, the risks and uncertainties set forth in Desktop Metal, Inc.'s filings with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Desktop Metal, Inc. assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Media Relations:
Caroline Legg
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Jay Gentzkow
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HOUSTON--(BUSINESS WIRE)--Sunnova Energy Corporation (“SEC”), a wholly-owned subsidiary of Sunnova Energy International Inc. (“Sunnova”), today announced that it intends to offer, subject to market conditions, $350 million aggregate principal amount of green 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 under the Securities Act.

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.

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, as described in Sunnova’s recently launched new green financing framework, and pending such use, will maintain or apply the net proceeds in accordance with Sunnova’s normal liquidity practices.

The notes have not been and will not be registered under the Securities Act or any state securities laws and, unless so registered, 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^®.

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• Square D™ Energy Center recognized for empowering homeowners to actively manage their energy use and reduce their carbon footprint
• Grid-to-plug solution offers simplified energy management, future-proofing homes while providing greater energy resiliency
• Green Builder Media the latest to recognize Schneider Electric for leadership and innovation in decarbonization and sustainability

BOSTON--(BUSINESS WIRE)--#EnergyCenter--Schneider Electric, the leader in digital transformation of energy management and automation, has been recognized as a 2021 Eco-Leader by Green Builder Media in their July/August issue. Green Builder recognizes pioneering companies confronting environmental challenges in innovative ways with the Eco-Leader award. As a 2021 Eco-Leader, Schneider Electric join a prestigious list of companies renowned for developing sustainable products and creating manufacturing processes that reduce their environmental footprint, improve people’s lives and enhance profitability.

Green Builder focused on the Square D™ Energy Center with the award for its innovation as a grid-to-plug solution giving homeowners convenient access to backup power, battery storage, solar and more, from a convenient smart phone app. As the most sustainable corporation in the world and four-time ENERGY STAR^® Partner of the Year, Schneider Electric recognizes the importance of decarbonization and sustainability to meet the challenges facing homeowners, including rising energy costs, frequent power disruptions and an increasing need for residential energy.

“With residential homes expected to become the single-largest greenhouse gas emitters over the next decade, innovation in the home building sector is crucial for achieving the world’s energy and decarbonization goals,” said Rich Korthauer, VP, Home and Distribution Business at Schneider Electric. “Net zero homes are critical for reducing emissions and mitigating the impacts of climate change. With the Square D Energy Center, we’re enabling homeowners to actively control their energy use and leverage the provided insights to make better energy choices.”

Grid-to-plug innovation: Square D™ Energy Center

The Square D™ Energy Center seamlessly enables the convergence, scalability, and optimization of residential distributed energy resources and empowers homeowners to take an active role in their home energy management, conveniently through the Wiser Energy app. Energy use can be monitored in real time, usage costs can be compared to utility rates for optimal savings, and power sources can be easily changed to battery or generator backup sources to ensure resiliency. More than just a smart energy panel, this grid-to-plug solution also enhances safety with whole-home surge protection and custom alerts for potential issues.

The platform is a major step towards enabling net zero, self-sufficient homes and bringing sustainable energy choices directly to consumers.

Schneider Electric is committed to developing solutions focused on efficiency to meet the challenges facing homeowners, including rising energy costs, frequent power disruptions and an increasing need for residential energy.

For more information on these grid-to-plug innovations from Schneider Electric, please visit https://www.se.com/us/en/home/offers/connected-home/.

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

www.se.com

Discover Life Is On

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Hashtags: #LifeIsOn #SquareD #EnergyCenter #Sustainability

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LOS ANGELES & BOCA RATON, Fla.--(BUSINESS WIRE)--NextGen Acquisition Corporation (NASDAQ:NGAC) (“NextGen”) a publicly-traded special purpose acquisition company, reminds its shareholders to vote in favor of the approval of NextGen’s proposed business combination with Xos, Inc. (“Xos” or the “Company”), a leading manufacturer of fully electric Class 5 to Class 8 commercial vehicles, and the related proposals to be voted upon at NextGen’s extraordinary general meeting on August 18, 2021.

The extraordinary general meeting of NextGen’s shareholders to approve, among other things, the proposed business combination will be held in a virtual format and physically at the offices of Skadden, Arps, Slate, Meagher & Flom LLP located at One Manhattan West, New York, NY 10001 on August 18, 2021 at 9:00 a.m. Eastern Time or virtually via live webcast at https://www.cstproxy.com/nextgenacq/sm2021. NextGen strongly recommends that shareholders attend the meeting virtually. NextGen’s shareholders of record as of the close of business on the record date of July 2, 2021 (the “Record Date”) should submit their vote promptly and no later than 11:59 p.m. Eastern Time on August 17, 2021.

It remains important that all holders who owned NextGen’s shares as of July 2, 2021 – even if they have since sold their shares – vote by 11:59 p.m. Eastern Time on August 17, 2021 to ensure the deal proceeds in a timely manner.

We recommend that you vote your shares online, though you may also vote by mail or telephone. More information on how to vote can be found at https://www.nextgenacq.com/vote.html or, if you hold in street name, by following the instructions provided by your broker, bank or other nominee on the Voting Instruction Form mailed or e-mailed to you. If you did not receive or have misplaced your Voting Instruction Form, contact your bank, broker or other nominee to obtain your control number in order to vote.

Holders of NextGen’s shares who need assistance voting or have questions regarding the extraordinary general meeting may contact NextGen’s proxy solicitor, Morrow Sodali LLC, toll-free at (800) 662-5200 or (203) 658-9400 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

About NextGen

NextGen Acquisition Corporation is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. NextGen is led by George Mattson, a former Partner at Goldman, Sachs & Co., and Gregory Summe, former Chairman and CEO of PerkinElmer and Vice Chairman of the Carlyle Group. NextGen is listed on NASDAQ under the ticker symbol "NGAC." For more information, please visit www.nextgenacq.com.

About Xos, Inc.

Xos, Inc. is an electric mobility company dedicated to making fleets more efficient. Xos designs and develops fully electric battery mobility systems specifically for commercial fleets. The company’s primary focus is on medium- and heavy-duty commercial vehicles that travel on “last mile” routes (i.e. predictable routes that are less than 200 miles per day). The company leverages its proprietary technologies to provide commercial fleets zero emission vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine and commercial EV counterparts. For more information, please visit www.xostrucks.com.

IMPORTANT LEGAL INFORMATION

Additional Information and Where to Find It

This document relates to a proposed transaction between Xos and NextGen. This document is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. In connection with the proposed transaction, NextGen filed a registration statement on Form S-4 with the SEC on May 14, 2021, as amended on June 25, 2021, July 22, 2021, July 28, 2021 and July 29, 2021, which was declared effective by the SEC on July 30, 2021 and includes a document that serves as a prospectus and proxy statement of NextGen (the “proxy statement/prospectus”). A definitive proxy statement/prospectus has been mailed to all NextGen’s shareholders of record as of July 2, 2021, the record date established for the extraordinary general meeting of shareholders relating to the proposed transaction. NextGen also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of NextGen are urged to read the registration statement, the proxy statement/prospectus included therein and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. Investors and security holders may obtain free copies of the registration statement, the proxy statement/prospectus included therein and all other relevant documents filed or that will be filed with the SEC by NextGen through the website maintained by the SEC at www.sec.gov. The documents filed by NextGen with the SEC also may be obtained free of charge at NextGen’s website at https://www.nextgenacq.com/nextgen-i.html or upon written request to 2255 Glades Road, Suite 324A, Boca Raton, Florida 33431.

Participants in the Solicitation

NextGen and Xos and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from NextGen’s shareholders in connection with the proposed transaction. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus. You may obtain a free copy of this document as described in the preceding paragraph.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Xos and NextGen, including statements regarding the anticipated timing of the transaction and the products, customers and markets of Xos. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of NextGen’s securities, (ii) the risk that the transaction may not be completed by NextGen’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by NextGen, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the Merger Agreement by the shareholders of NextGen, the availability of the minimum amount of cash available in the trust account in which substantially all of the proceeds of NextGen's initial public offering and private placements of its warrants have been deposited following redemptions by NextGen’s public shareholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the proposed transaction, (v) the inability to complete the PIPE investment in connection with the transaction, (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vii) the effect of the announcement or pendency of the transaction on Xos’ business relationships, operating results, and business generally, (viii) risks that the proposed transaction disrupts current plans and operations of Xos and potential difficulties in Xos employee retention as a result of the transaction, (ix) the outcome of any legal proceedings that may be instituted against Xos or against NextGen related to the Merger Agreement or the proposed transaction, (x) the ability to maintain the listing of NextGen’s securities on a national securities exchange, (xi) the price of NextGen’s securities may be volatile due to a variety of factors, including changes in the seven competitive and regulated industries in which NextGen plans to operate or Xos operates, variations in operating performance across competitors, changes in laws and regulations affecting NextGen’s or Xos’ business, Xos’ inability to implement its business plan or meet or exceed its financial projections and changes in the combined capital structure, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities, and (xiii) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of NextGen’s registration statement on Form S-1 (File No. 333-248921), the registration statement on Form S-4 discussed above, the definitive proxy statement/prospectus and other documents filed or that may be filed by NextGen from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward looking statements, and Xos and NextGen assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Xos nor NextGen gives any assurance that either Xos or NextGen, or the combined company, will achieve its expectations.

Xos Investor Relations
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Xos Media Relations
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NextGen
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Comprehensive management software designed to help solar installers around the world save time and money

CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., the solar industry’s worldwide leader in Flex MLPE (Module Level Power Electronics), today unveiled its Energy Intelligence (EI) Solution, a comprehensive digital platform designed to optimize the installer experience around commissioning, monitoring, and maintaining fleets of solar installations.

For solar installers, operations and maintenance represents a significant and ongoing burden due to the lack of visibility to the module-level information. Tigo EI quickly identifies issues that increase truck rolls, undermine energy output, and undercut the economic success of said installations. EI also delivers the tools to decrease operation and maintenance costs, increase system performance and revenue, and improve the user experience for both installers and customers. The platform also simplifies the commissioning process by providing greater system visibility and information to end installers and EPCs.

“Fleet management technology is the next key enabler in renewable energy, and the Tigo EI Platform will accelerate this domain with improved data gathering and analytics software,” said Archie Roboostoff, vice-president of software at Tigo Energy. “We are confident that the upgraded EI Solution solution will assist installers in pushing forward their energy systems and we look forward to seeing the results.”

Tigo Energy supports the revenue and strategic goals of installers through a holistic approach to energy management and by providing premium hardware and smart software solutions. With hundreds of terabytes of data on solar system performance collected to date, the value of the resulting analytics continues to increase. Installers have the opportunity to choose what works best for their systems and fleets. Key features of the EI Solution that will improve installer experience and interaction include:

• Fleet management view for installers to easily sort and analyze installed systems
• Power flow diagramming with interactive charts presenting archived and real-time power generation and distribution data
• Advanced performance reports designed to reduce alert fatigue for installers
• Advanced chart pages updated to include a calendar flow, and income statistics to show monetary equivalent of energy production.
• Innovative kiosk view showcasing energy details for system owners to illustrate to friends, colleagues and customers their renewable energy commitment

Earlier this year, Tigo Energy announced it surpassed 75GWh of Reclaimed Energy since 2009 in tens of thousands of installations. With EI, users and installers can access the ‘Reclaimed Energy’ feature, a tool that quantifies energy system optimization for greater energy generation. Existing customers that are currently using the platform will be automatically switched over to the newest version of EI, but the previous version of the platform will still be available for use at the customer’s discretion.

The platform is available on the web and as a mobile application named Tigo EI on Apple’s App Store and Google’s Play Store.

To learn more about Tigo Energy, visit tigoenergy.com.

About Tigo Energy

Tigo Energy is the worldwide leader in Flex MLPE (Module Level Power Electronics) with innovative solutions that increase solar energy production, decrease operating costs, and significantly enhance safety of solar energy systems. The Tigo TS4 platform maximizes the benefit of solar and provides customers with the most scalable, versatile, and reliable MLPE solution available. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy worldwide. Tigo systems operate on seven continents and produce gigawatt hours of reliable, clean, affordable, and safe solar energy daily. With a global team, Tigo Energy is dedicated to making the best MLPE on earth so more people can enjoy the benefits of solar. Find us online at www.tigoenergy.com.

Technica Communications
Gabrielle Reitano
(408) 806-9626 Ext. 9783
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Follow-On Round by Repeat Investors Equinor Ventures, Saudi Aramco Energy Ventures and L37 to Power Blockchain Smart Contracts and Automated ESG Measurements for Industry

HOUSTON--(BUSINESS WIRE)--#blockchain--Data Gumbo, provider of GumboNet™ — the massively interconnected industrial smart contract network secured and powered by blockchain, today announced that it has closed its Series B funding round totaling $7.7 million with follow-on investments led by Equinor Ventures, the corporate venture capital arm of Equinor, with participation from Saudi Aramco Energy Ventures, the corporate venture capital fund of Saudi Aramco, and Bay Area and Houston-based venture firm L37.

Data Gumbo’s first close of the Series B round was announced in September 2020 at $4 million. The additional funds to close the Series B will be used to scale Data Gumbo to serve demand for GumboNet™ and GumboNet™ ESG. Additionally, Data Gumbo plans to establish a presence in the Middle East to cover expected demand growth in the region.

“The successful close of our series B is continued proof of the efficacy and booming interest in our ability to capture critical cost savings, deliver trust and provide transparency across commercial relationships,” said Andrew Bruce, Founder and CEO, Data Gumbo. “Compounded by the growing demand for transparent, accurate sustainability data and the launch of our automated ESG measurement solution, GumboNet™ ESG, Data Gumbo’s trajectory is well-positioned to serve our growing customer base by ensuring economic productivity and value. This infusion of capital will support our expansion efforts as we bring more international users to our network.”

With total funding raised to date at $18.4 million, the company has achieved notable milestones including being named to The CB Insights Blockchain 50, recognized as ‘Disruptive Innovator’ in the Forbes Energy Awards 2020, more than doubling the size of the company in 2020 including expansion of its executive team, building a robust customer pipeline and adding several strategic partnerships into new industries.

Investor Quotes

“Equinor’s recent pilot at the Johan Sverdrup field has demonstrated that GumboNet can create strong value for the partnership,” said Gareth Burns, Head of Equinor Ventures. “Our follow-on investment confirms Equinor Ventures’ confidence in Data Gumbo’s solution for our company and the broader energy industry.”

“Data Gumbo’s success is marked by a wide variety of business use cases and opportunities for expansion,” said Bruce Niven, Chief Investment Officer, Aramco Ventures. “Our continued investment is a testament to our continued support as the company attracts new customers, experiences further demand for its network and gains traction in new markets.”

“Data Gumbo is the market leader for smart contracts backed by blockchain, and the coming year will be a period of exponential growth for the company as they penetrate new industrial markets,” said Kemal Farid, Partner at L37. “We believe strongly that GumboNet will become the de facto network for smart contracts across industries for capturing value and solving enormous pain points in contractual relations. Additionally, as companies move to meet increasing sustainability measurement demands and ESG improvements, there is a huge growth path available for Data Gumbo with the launch of GumboNet ESG.”

About Equinor Ventures

Equinor Ventures is Equinor’s corporate capital venture arm dedicated to investing in attractive and ambitious early phase and growth companies. We believe that the innovation, creativity and agility of startups can drive change and transition the energy industry toward a low carbon future. We deliver strategic business impact by connecting external innovation to Equinor. For more information, visit https://www.equinor.com/en/what-we-do/equinor-ventures.html.

About Saudi Aramco Energy Ventures

Saudi Aramco Energy Ventures LLC (SAEV) is the corporate venture fund of Aramco Ventures, the Venture Capital subsidiary of Aramco, the world’s leading fully integrated energy and chemical enterprise. Headquartered in Dhahran with offices in North America, Europe and Asia, SAEV’s mission is to invest globally in startup and high growth companies with technologies of strategic importance to its parent company. For more information, visit www.saev.com.

About L37

L37 is a new generation, hybrid venture capital and private equity company. We invest in visionary founders and companies who want to solve problems and transform industries. We work alongside founding teams, leveraging frameworks and our network of trusted relationships with customers, capital and talent to design new categories and engineer market-first, globally-minded companies. For more information, please visit www.L37.vc.

About Data Gumbo

Data Gumbo is a Houston-headquartered technology company that provides GumboNet™ — a massively interconnected industrial smart contract network secured and powered by blockchain. With integrated real-time capabilities that automate and execute smart contracts, GumboNet reduces contract leakage, frees up working capital, enables real-time cash and financial management and delivers provenance with unprecedented speed, accuracy, visibility and transparency. Data Gumbo also provides GumboNet™ ESG, the automated and accurate sustainability measurement solution that ties a company’s operational data to environmental, social and governance (ESG) standards reporting for industrial supply chains.

To date, Data Gumbo has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco; Equinor Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator; and with L37, a hybrid venture capital and private equity company. With offices in Stavanger, Norway, and London, UK, the growing company was recognized as the Disruptive Innovator in the Forbes Energy Awards 2020 and named to CB Insights Blockchain 50, among other awards last year. For more information, visit www.datagumbo.com or follow the company on LinkedIn, Twitter and Facebook.

Gina Manassero
Data Gumbo
VP of Communications
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HOUSTON--(BUSINESS WIRE)--The Board of Directors of Murphy Oil Corporation (NYSE: MUR) today declared a quarterly cash dividend on the Common Stock of Murphy Oil Corporation of $0.125 per share, or $0.50 per share on an annualized basis. The dividend is payable on September 1, 2021, to stockholders of record as of August 16, 2021.

ABOUT MURPHY OIL CORPORATION

As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. The company sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events or results, are subject to inherent risks and uncertainties. Factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement include, but are not limited to: macro conditions in the oil and gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the U.S. or global capital markets, credit markets or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.

Investor Contacts:
Kelly Whitley, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9107
Megan Larson, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9470

ATLANTA--(BUSINESS WIRE)--Williams Industrial Services Group Inc. (NYSE American: WLMS), an infrastructure and maintenance services company, will release financial results for second quarter ended June 30, 2021 before financial markets open on August 18, 2021. Management will host a conference call and webcast later that morning to discuss these results; a question-and-answer session will follow.

Second Quarter 2021 Conference Call

August 18, 2021
10:00 a.m. Eastern Time
Phone: (201) 493-6780
Internet webcast link and accompanying slide presentation: http://ir.wisgrp.com/

An audio replay of the earnings call will be available later that day by dialing 412-317-6671 and entering conference ID 13722254. Alternatively, the webcast replay can be accessed at http://ir.wisgrp.com/.

About Williams Industrial Services Group

Williams Industrial Services Group Inc. has been safely helping plant owners and operators enhance asset value for more than 50 years. The Company provides a broad range of building, maintenance and support services to infrastructure customers in the energy, power and industrial end markets. Williams’ mission is to be the preferred provider of construction, maintenance, and specialty services through commitment to superior safety performance, focus on innovation, and dedication to delivering unsurpassed value to its customers. Additional information can be found at www.wisgrp.com.

Investor Contact:
Chris Witty
Darrow Associates
646-345-0998
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• Corporate power purchase agreements executed for electricity from largest solar project in Louisiana
• 345 MWdc solar farm estimated to abate about 450,000 metric tons of GHG emissions annually, equivalent to annual emissions from about 99,000 fuel burning cars
• Project to stimulate local economy by generating an estimated $30 million in new revenue to the Pointe Coupee Parish along with creating approximately 400 construction jobs

BATON ROUGE, La.--(BUSINESS WIRE)--#AmericanJobs--McDonald’s Corporation and eBay Inc. today announced agreements with Lightsource bp to purchase power from what will be Louisiana’s largest solar project, located 30 miles northwest of Baton Rouge in Pointe Coupee Parish. The 345 megawatt Ventress Solar project will help McDonald’s and eBay meet their sustainability goals and advance their commitment to climate action, while growing Lightsource bp’s expanding footprint of solar assets across the Southeast. Once complete, the project will generate over 600,000 megawatt-hours (MWh) of clean energy annually, equivalent to the average annual consumption of 59,000 US homes.

“As one of the world’s largest restaurant companies, McDonald’s is uniquely positioned to help spur significant action around climate change," said Emma Cox, Global Renewable Energy Lead at McDonald’s. "Our renewable energy deal with Lightsource bp will not only create Louisiana's largest solar project and serve as the latest milestone in making significant progress toward our science-based emissions reduction target for 2030, but also demonstrate our belief that meaningful solutions to building a sustainable future require partnership and collaboration."

“At eBay, investing in clean energy remains a focus of our business as we aim to attain 100 percent renewable energy by 2025,” said Renee Morin, Chief Sustainability Officer, eBay. “This project enables us to source the clean energy equivalent of our data center. Our collaboration with Lightsource bp and McDonald’s uniquely propels our shared goal to accelerate the transition to a clean energy economy.”

Construction is expected to begin as early as the end of this year on the Ventress Solar farm, with commercial operation starting in mid-2023. Lightsource bp is developing the project and will be the long-term owner and operator.

“This agreement is a great example of the teamwork needed to achieve our mutual goals for a healthier, more sustainable and resilient planet and economy for generations to come,” said Kevin Smith, CEO of the Americas for Lightsource bp. “Customer aggregation deals such as this allow businesses of varying sizes and energy needs to come together and spur meaningful development of clean and affordable energy sources in the US. This collaborative agreement by McDonald’s and eBay is a model we hope others will replicate.”

Local economic benefits beyond reducing greenhouse gas pollution

Beyond improving the health and energy security of communities across America, large-scale solar projects help strengthen local economies. Construction of the over $300 million privately funded solar farm will:

• Create approximately 400 construction jobs for 15-18 months, comprised primarily of local labor
• Provide an estimated $30 million dollar boost to Pointe Coupee Parish over the project life – providing additional funding for schools, fire departments, libraries and health services – without a tax increase on its citizens
• Deliver an indirect economic impact of over $200 million, according to a study by the Baton Rouge Area Chamber, an economic development agency supporting the nine-parish Baton Rouge Area

“This project is exciting news for our parish,” said Major Thibaut, Pointe Coupee Parish President. “It brings the largest economic development project to the area in thirty years, with minimal impact on our infrastructure. The participation in the PILOT program means approximately $30 million in revenue for parish government, law enforcement and school system without an increase in taxes on our residents.”

Dual use solar – maximizing benefits to the environment and local community

With proper planning and land management, solar farms can increase biodiversity and improve local ecosystems. A long-term environmental action plan is underway for Ventress Solar that aims to maximize local sustainability benefits through habitat creation and co-located agriculture to farm the land while also harnessing solar energy.

CustomerFirst Renewables and 3Degrees, representing McDonald’s and eBay respectively, partnered to advise the buyer aggregation during the transaction, and Ballard Spahr led negotiations on behalf of the buyers.

About Lightsource bp

Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Our team includes over 500 industry specialists, working across 15 countries. We provide full scope development for our projects, from initial site selection, financing and permitting through to long-term management of solar projects and power sales to our clients. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. Since late 2017, the team has developed a pipeline of more than 8 gigawatts of large-scale solar projects at various stages of development across the United States with over 2.7 gigawatts of contracted assets representing more than $2.2 billion in potential investment. For more information please visit lightsourcebp.com.

About McDonald’s

McDonald's is the world's leading global foodservice retailer with over 39,000 locations in over 100 countries. Approximately 93% of McDonald's restaurants worldwide are owned and operated by independent local business owners. For more information, visit www.mcdonalds.com, or follow us on Twitter @McDonalds and Facebook. www.facebook.com/mcdonalds.

About eBay

eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects millions of buyers and sellers in 190 markets around the world. We exist to enable economic opportunity for individuals, entrepreneurs, businesses and organizations of all sizes. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2020, eBay enabled $100 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.

Mary Grikas
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Transaction follows the successful integration of three previously announced acquisitions in the U.S. Midcontinent region since the establishment of Presidio’s partnership with Morgan Stanley Energy Partners.

FORT WORTH, Texas--(BUSINESS WIRE)--Presidio Investment Holdings LLC (“Presidio Petroleum”, “Presidio”, or the “Company”), a portfolio company of Morgan Stanley Energy Partners, announced today that it has closed upon the issuance of term asset backed securities (the “Notes”) in a private placement transaction with a syndicate of U.S.-based institutional investors. The Notes are the largest single issuance of asset backed securities by an energy producer, the first such issuance to a syndicate of Note purchasers, and include two investment grade rated tranches. The Company plans to use the net proceeds of the issuance to accelerate its acquisition-driven growth strategy in the Midcontinent region of the United States and recapitalize its balance sheet.

Presidio was established as a differentiated oil and gas operator focused on the optimization of mature, producing oil and natural gas assets in the United States. Without drilling new wells, Presidio has achieved significant scale, growing to 38,000 boe/d of net production under management since the start of its partnership with Morgan Stanley Energy Partners. Presidio has consistently and successfully executed on its strategy to enhance the operational, financial, and sustainability performance of legacy oil and natural gas assets in pursuit of industry-leading returns.

Chris Hammack, Co-Founder and Co-Chief Executive Officer of Presidio, said, “Presidio’s disciplined operating model and culture of continuous innovation has enabled us to generate exceptional returns on capital from under-managed legacy oil and gas assets. We look forward to continuing the efficient and responsible management of our assets under this new structure.”

Will Ulrich, Co-Founder and Co-Chief Executive Officer of Presidio, added, “Presidio is the last and best steward of oil and gas assets which are essential to supporting the global economy as it continues to decarbonize. We plan to be fully compatible with the International Energy Agency’s recent Net Zero by 2050 roadmap for the global energy sector, and, as part of this Note issuance, have developed Sustainability Performance Targets with Moody’s affiliate Vigeo Eiris to formalize the reduction of Scope 1 and Scope 2 greenhouse gas emissions from our assets.”

Robert Lee, Managing Director of Morgan Stanley Energy Partners, said, “This innovative securitization of Presidio’s existing asset base will enable the Company to pursue additional, capital-efficient acquisitions in the U.S. Midcontinent. The Presidio management team has established a strong track record of strategic consolidation of legacy assets in the Anadarko Basin. We continue to see opportunity to grow the Presidio platform through consolidation and improved management of producing assets.”

John Moon, Managing Director and Head of Morgan Stanley Energy Partners, added, “We are pleased to partner with Presidio in pioneering the use of securitization as a financing strategy within the energy industry. Presidio’s diversified asset base and free cash flow profile are a strong match for long-term, investment grade debt securities, and this inaugural issuance to a broad base of U.S. institutional investors validates Presidio’s strong track record and differentiated strategy.”

Terms of the transaction were not disclosed. Sidley Austin LLP served as legal counsel to Presidio and MSEP and Guggenheim Securities LLC served as sole structuring advisor and placement agent to Presidio and MSEP in connection with the transaction.

About Presidio Petroleum

Headquartered in Fort Worth, Texas, Presidio Petroleum is a leading oil and natural gas efficiency company with assets located in the Anadarko Basin of Texas, Oklahoma, and Kansas. For further information about Presidio Petroleum, please visit www.presidiopetroleum.com.

About Morgan Stanley Energy Partners

Morgan Stanley Energy Partners is the energy-focused private equity business of Morgan Stanley Investment Management that makes privately negotiated equity and equity-related investments in energy companies located primarily in North America. Morgan Stanley Energy Partners pursues a differentiated investment strategy, focused on the buyout and build-up of strategically attractive, established energy businesses across the energy value chain in partnership with world-class management teams. For further information about Morgan Stanley Energy Partners, please visit www.morganstanley.com/im/energypartners.

Morgan Stanley Media Relations: Lauren Bellmare, 212.761.5303

• Flexjet to be launch customer for SAF initiative at Monterey Airport
• Marks 4AIR’s first facilitation of climate-friendly sustainable aviation fuel
• During Monterey Car Week, 4AIR and Del Monte Aviation will offer SAF to outbound flights at no additional cost above jet fuel
• 4AIR will also offset the carbon emissions of all inbound and outbound private flights regardless of operator during Monterey Car Week

BOSTON--(BUSINESS WIRE)--4AIR, the first and only rating system focused on comprehensive sustainability in private aviation, today announced that it is facilitating a sustainable aviation fuel (SAF) offering at Monterey Regional Airport (ICAO: KMRY) with fixed base operator (FBO) Del Monte Aviation and the Monterey Fuel Company LLC. SAF generates a net reduction in aircraft emissions that contribute to climate change. Flexjet, a global leader in private jet travel, is the launch customer, and will uplift only SAF for its aircraft taking on fuel at Monterey.

“Sustainable aviation fuel is a highly effective strategy for reducing aircraft emissions that contribute to climate change,” said Kennedy Ricci, 4AIR’s president. “The use of sustainable aviation fuel goes beyond offsetting emissions to bring in-sector reductions in the near term, which ultimately is the next phase for aviation sustainability. We congratulate Flexjet, as Monterey’s launch customer for SAF, for joining us in taking this significant step forward.”

Sustainable aviation fuel is a “drop-in” fuel that meets all the same technical and safety requirements as standard jet fuel. Although SAF contains the same hydrocarbons as traditional petroleum-based jet fuel, the hydrocarbons come from more sustainable sources, such as:

• used or waste cooking oils,
• tallow (waste animal fats),
• waste woody biomass and
• municipal solid waste (MSW).

This results in a net reduction of emissions when compared to petroleum-based jet fuel on a life cycle basis. To claim the reductions from the use of the fuel, appropriate documentation must be kept to prove chain of custody and track accurate emission reduction calculations.

Del Monte Aviation at the Monterey Regional Airport offers as a fuel option Avfuel’s Neste MY Sustainable Aviation Fuel^TM to aircraft owners and operators fueling at Monterey Regional Airport. Now, 4AIR will facilitate user documentation for aircraft uplifting SAF at Monterey, beginning with Flexjet. Since June 7, 2021, Flexjet has uplifted only SAF in Monterey. 4AIR will provide all documentation and sustainability accounting to prove transfer of ownership and accurate emissions reductions calculations.

“As the aviation industry focuses on ways to reduce its impact on the environment, SAF will play a key role. More and more operators are committing to decrease the CO2 footprint of their flight operations through the use of SAF.” said Del Monte Aviation General Manager Matthew Wright. “Our collaboration with Avfuel and Neste on the supply side and 4AIR and Flexjet on the user side is truly game changing in providing access to SAF.”

The 4AIR rating framework promotes SAF as one of its highest-valued emissions strategies and offers benchmarks that are aligned with industrywide carbon reduction goals and consistent with international standards. The framework offers various levels, each with specific, science-based goals, independently verified results and progressively greater impacts on sustainability.

Participants in 4AIR’s rating system that commit to using SAF can be rated at 4AIR Level 3 (Gold) –Beyond Neutral, which enables them to go beyond emissions neutrality to actually reducing emissions by at least 5 percent through solutions such as using SAF or purchasing SAF credits through 4AIR.

Emissions of All Flights to and from Monterey Car Week to Be Offset by 4AIR and Del Monte Aviation

Monterey Car Week, which is held annually along Monterey County, California’s beautiful Pacific coast, features automotive events, including exhibitions, auctions and rallies that conclude at the world-renowned Pebble Beach Concours d’Elegance. The events draw an audience that include many attendees who arrive via private aircraft.

To reduce the emissions associated with Monterey Car Week’s air traffic, 4AIR and Del Monte Aviation have committed to providing outbound private aircraft flights at Monterey Regional Airport the option to fuel with SAF. Del Monte Aviation has secured over 24,000 additional gallons of 30%-blended SAF for aircraft being serviced through the airport for Monterey Car Week private jet traffic. 4AIR will cover the premium cost of SAF over the cost of traditional jet fuel for operators uplifting during the event and while supplies last. 4AIR will manage all of the SAF accounting and documentation for the offering. In addition, all inbound and outbound flights to Del Monte Aviation will be offset to 4AIR Level 1, meaning all air travel to and from Del Monte Aviation for Monterey Car Week will be carbon-neutral.

About 4AIR

4AIR is an industry pioneer offering sustainability solutions beyond just simple carbon neutrality. Its industry-first framework seeks to address climate impacts of all types and provides a simplified and verifiable path for private aviation industry participants to achieve meaningful aircraft emissions counteraction and reduction.

The 4AIR framework offers four levels, each with specific, science-based goals, independently verified results and progressively greater impacts on sustainability that make it easy for private aviation users to pursue sustainability through access to carbon markets, use of Sustainable Aviation Fuel, support for new technologies and other strategies.

All carbon credits through 4AIR are quantified and verified through the most respected and international leading bodies that issue and register credits, including the American Carbon Registry, Climate Action Reserve, Verified Carbon Standard (VERRA) and The Gold Standard. Additionally, end-of-year commitment audits are independently verified by third parties. 4AIR also serves the demand signal working groups with the World Economic Forum’s Clean Skies for Tomorrow Coalition.

For more information, visit us at www.4air.aero.

Media Contact:
Sarah Churbuck
The Hubbell Group, Inc.
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