DUBLIN--(BUSINESS WIRE)--The "Global Refinery Coking Units Outlook to 2025 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Coking Units" report has been added to ResearchAndMarkets.com's offering.

The global refinery coking units capacity increased from 8,965 mbd in 2015 to 9,692 mbd in 2020 at an Average Annual Growth Rate (AAGR) of 1.6 percent. It is expected to increase from 9,692 mbd in 2020 to 11,124 mbd in 2025 at an AAGR of 2.8 percent. The US, China, India, Canada, and Brazil are the major countries that accounted for 70.1 percent of the total coking unit capacity in 2020.

Scope

• Updated information on all active and upcoming (planned and announced) refinery coking units globally.
• Provides key details such as refinery name, operator name, refinery type, status for all active, suspended, planned, and announced refinery coking units in a country.
• Provides an annual breakdown of new-build and expansion capital expenditure outlook by region and by key countries for the period 2021-2025.

Reasons to Buy

• Obtain the most up to date information available on all active, suspended, planned, and announced refinery coking units globally
• Identify growth segments and opportunities in the refinery coking units industry
• Facilitate decision making on the basis of strong refinery coking units capacity data
• Assess your competitor's refinery coking units portfolio

Key Topics Covered:

1. Introduction

2. Global Refinery Coking Units, Snapshot

3. Africa Refinery Coking Units

4. Asia Refinery Coking Units

5. Caribbean Refinery Coking Units

6. Europe Refinery Coking Units

7. Former Soviet Union Refinery Coking Units

8. Middle East Refinery Coking Units

9. North America Refinery Coking Units

10. South America Refinery Coking Units

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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DALLAS--(BUSINESS WIRE)--Energy Transfer LP (“ET”) today announced it has priced an underwritten public offering (the “offering”) of 900,000 of its 6.500% Series H Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units (the “Series H Preferred Units”) at a price of $1,000.00 per unit, resulting in total proceeds of $900 million, before deducting underwriting discounts and offering expenses payable by ET.

Distributions on the Series H Preferred Units, which will be paid semi-annually on May 15 and November 15 each year beginning November 15, 2021, will accrue and be cumulative from and including the date of original issue to, but excluding, November 15, 2026, at a rate of 6.500% per annum of the stated liquidation preference of $1,000.00. On and after November 15, 2026, distributions on the Series H Preferred Units will accumulate at a percentage of the $1,000.00 liquidation preference equal to an interest rate equal to the Five-year U.S. Treasury Rate (as described in the prospectus supplement relating to the offering), plus a spread of 5.694% per annum. The Series H Preferred Units are redeemable, in whole or in part, on one or more occasions, at ET’s option during any Redemption Period (as described in the prospectus supplement relating to the offering) at a redemption price of $1,000.00 per Series H Preferred Unit, plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption.

The offering of the Series H Preferred Units is expected to close on or about June 15, 2021, subject to the satisfaction of customary closing conditions.

ET intends to use the net proceeds from the offering to repay certain of its outstanding indebtedness and for general partnership purposes.

J.P. Morgan, Mizuho Securities, PNC Capital Markets LLC and Truist Securities are acting as joint book-running managers of the offering. When available, copies of the prospectus supplement and prospectus relating to the offering may be obtained by sending a request to:

J.P. Morgan Securities LLC
383 Madison Avenue, 3^rd Floor
New York, New York 10179
Attention: Investment Grade Syndicate Desk
Telephone: (212) 834-4533

Mizuho Securities USA LLC
1271 Avenue of the Americas
New York, New York 10020
Attention: Debt Capital Markets
Telephone: (866) 271-7403

PNC Capital Markets LLC
300 Fifth Avenue, 10th Floor
Pittsburgh, Pennsylvania 15222
Attention: Debt Capital Markets
Telephone: 1 (855) 881-0697
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Truist Securities, Inc.
303 Peachtree Street
Atlanta, Georgia 30308
Attention: Prospectus Department
Telephone: (800) 685-4786
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

You may also obtain these documents for free when they are available by visiting EDGAR on the Securities and Exchange Commission (the “SEC”) website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The offering will be made pursuant to an effective shelf registration statement and prospectus previously filed by ET with the SEC.

Energy Transfer LP owns and operates one of the largest and most diversified portfolios of energy assets in the United States. Strategically positioned in all of the major U.S. production basins, its core operations include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. Energy Transfer LP also owns Lake Charles LNG Company, as well as limited partner interests and the general partner interests of publicly traded master limited partnerships Sunoco LP (NYSE: SUN) and USA Compression Partners, LP (NYSE: USAC).

Statements about the offering may be forward-looking statements as defined under federal law. Forward-looking statements can be identified by words such as “anticipates,” “believes,” “intends,” “projects,” “plans,” “expects,” “continues,” “estimates,” “goals,” “forecasts,” “may,” “will” and other similar expressions. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of ET, and a variety of risks that could cause results to differ materially from those expected by management of ET. Important information about issues that could cause actual results to differ materially from those expected by management of ET can be found in ET’s public periodic filings with the SEC, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. ET undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

Energy Transfer LP
Investor Relations:
William Baerg, Brent Ratliff, Lyndsay Hannah, 214-981-0795
or
Media Relations:
Vicki Granado, 214-840-5820

DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) will hold its 2021 Annual Meeting of Shareholders on Friday, June 4, 2021 at 9:30 a.m. Central Time.

The Annual Meeting will be held at The Westin Galleria Dallas hotel, 13340 Dallas Parkway, Dallas, Texas 75240. Refreshments will be provided beginning at 8:30 a.m. Central Time to provide shareholders the opportunity to have a social time with directors, management and senior staff prior to the meeting.

The Annual Meeting will be webcast live. To access the live webcast, you can use the following link https://edge.media-server.com/mmc/p/m4bzpehv or visit the Events page located under the Investor Relations tab on Matador’s website at www.matadorresources.com.

About Matador Resources Company

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

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

Mac Schmitz
Capital Markets Coordinator
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(972) 371-5225

MIDLAND, Texas--(BUSINESS WIRE)--Colgate Energy Partners III, LLC (the “Company” or “Colgate”) announced today that it has entered into a definitive agreement under which Colgate will acquire a majority of the assets owned by Luxe Energy LLC (“Luxe”) in an all-stock transaction. Luxe will continue to own and manage certain assets including a portion of the non-operated leasehold interests that are operated by MDC Reeves Energy, LLC and its affiliates. Closing occurred simultaneously with signing of a definitive agreement on June 1, 2021.

Luxe Highlights

• ~22,000 net acres adjacent to Colgate’s existing position in Reeves and Ward Counties
• Current average net daily production of ~17,000 Boepd
• ~5,000 gross surface acres that support go-forward development
• 1 rig running focused on Luxe’s existing Ward County position

Transaction Highlights

• Combination creates one of the largest private companies in the Permian Basin, with ~57,000 net acres, ~45,000 Boepd and 4 rigs running as of June 1, 2021
• Adds meaningful operational scale and synergies, which will build on Colgate’s track record of successful, low-cost execution
• Adds high-quality inventory directly offset Colgate’s successful legacy development in Reeves and Ward Counties
• Transaction adds significant production and cash flow without assuming any additional debt

“The acquisition of Luxe is a transformational event that positions Colgate as one of the largest private companies in the Permian. It allows both Colgate and Luxe stakeholders to take advantage of increased scale while generating substantial free cash flow. This transaction enhances our already best-in-class balance sheet and puts us in a position of strength as we look to opportunistically pursue further consolidation,” stated James Walter, Co-Chief Executive Officer of Colgate.

Will Hickey, Co-Chief Executive Officer of Colgate, added “This acquisition is a perfect fit into the existing Colgate portfolio. The large contiguous acreage position sits right in Colgate’s backyard, and its Ward County position will compete for capital immediately. This transaction delivers the right balance of up-front production and cash flow to provide balance sheet strength, along with high-quality inventory to drive value over the coming years. The Colgate team is excited to continue our operational success on the Luxe assets.”

Conference Call

Colgate will host a conference call for investors and analysts to discuss the transaction on Wednesday, June 2, 2021 at 10:00 a.m. EST / 9:00 a.m. CDT. To participate in the Conference Call, register using this link or at https://www.colgateenergyir.com/irinfo.

About Colgate

Colgate is a privately held, independent oil and natural gas company headquartered in Midland, Texas that is engaged in the acquisition, exploration and development of oil and natural gas assets in the Delaware Basin, with operations principally focused in Reeves County, Ward County, and Eddy County. For more information regarding Colgate, please visit our Investor Relations website.

Forward-Looking Statements

This press release contains forward-looking statements based on Colgate’s current expectations that involve a number of risks and uncertainties. Generally, forward-looking statements do not relate strictly to historical or current facts and may include words such as “believes,” “will,” “expects,” “anticipates,” “intends” or similar words or phrases. No forward-looking statement can be guaranteed. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statement.

Michael Poynter
432-695-4222
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Fourth Quarter Revenues of $31.7 Million Increased 10% Year Over Year

SANTA ANA, Calif.--(BUSINESS WIRE)--$ITI #IoT--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today reported financial results for its fiscal fourth quarter and full year ended March 31, 2021. During the fiscal first quarter 2021, the company completed the sale of its Agriculture and Weather Analytics segment to DTN, LLC. The results of the Agriculture and Weather Analytics segment are reported as discontinued operations for all periods presented in this release. During the fiscal third quarter 2021, the company completed its acquisition of substantially all of the assets of TrafficCast International, Inc. (TrafficCast).

Fiscal Fourth Quarter 2021 Financial Highlights

• Record total revenue of $31.7 million, up 10% year over year
• Record total ending backlog of $78 million, up 26% year over year
• GAAP net loss from continuing operations of $0.4 million, or $(0.01) per share, a $1.6 million, or $0.04 per share, improvement year over year
• Adjusted EBITDA of $1.8 million, a $0.8 million decrease year over year

Fiscal Full Year 2021 Financial Highlights

• Record total revenue of $117.1 million, up 9% year over year
• GAAP net income from continuing operations of $0.5 million, or $0.01 per share, a $2.2 million, or $0.05 per share, improvement year over year
• Adjusted EBITDA of $7.5 million, a $3.3 million, or 79%, increase year over year
• Acquisition of TrafficCast on December 7, 2020

Fiscal Full Year 2022 Outlook

• Total revenue of $132.0 million to $142.0 million, which would represent growth of 22% year over year at the high end of our guidance range
• Adjusted EBITDA of 7% to 8% of full fiscal year 2022 revenue, which would represent growth of 27% year over year at the high end of our guidance range

Management Commentary:

“Our record fourth quarter revenue is a nice capstone to a solid fiscal year ending March 31, 2021,” said Joe Bergera, president and CEO of Iteris. “Despite the challenges of COVID-19, our ClearMobility strategy demonstrated measurable operating leverage with 9% revenue growth translating to significant improvements in fiscal 2021 net income, adjusted EBITDA and cash flow from operations. Additionally, we made good progress delivering against our ClearMobility roadmap, and the successful acquisition and integration of TrafficCast accelerated the development of Iteris’ ClearMobility Cloud.

“Based on our product roadmap and record total ending backlog as we enter fiscal 2022, we expect to gain additional share of the smart mobility infrastructure management market, which remains vibrant due to the need for cities and states to upgrade aging infrastructure and the desire of various commercial entities for better insight into the infrastructure they depend upon. Therefore, in fiscal 2022, we anticipate an acceleration in year-over-year revenue growth with significant improvements in net income and adjusted EBITDA, even without any potential upside from a possible national infrastructure investment program.”

GAAP Fiscal Fourth Quarter 2021 Financial Results

Total revenue in the fourth quarter of fiscal 2021 increased 10% to $31.7 million, compared with $28.9 million in the same quarter a year ago. This revenue increase was driven primarily by a 19% increase in Roadway Sensors and a 3% increase in Transportation Systems.

Operating expenses in the fourth quarter increased 14% to $13.4 million, compared with $11.7 million in the same quarter a year ago. This increase was primarily due to expenses related to the amortization of intangible assets and other operating expenses as a result of the acquisition of TrafficCast, and an increase in research and development expenses.

Operating loss from continuing operations in the fourth quarter was approximately $0.4 million, which included approximately $0.1 million of acquisition-related expenses and $0.1 million of a fair value inventory adjustment related to the TrafficCast acquisition, compared with an operating income from continuing operations of approximately $1.0 million in the same quarter a year ago. Net loss from continuing operations in the fourth quarter was approximately $0.4 million, or $(0.01) per share, compared with a net income of approximately $1.1 million, or $0.03 per share, in the same quarter a year ago.

GAAP Fiscal Full Year 2021 Financial Results

Total revenue in fiscal 2021 increased 9% to $117.1 million, compared with $107.4 million in fiscal 2020. This revenue increase was driven primarily by a 15% increase in Roadway Sensors and a 4% increase in Transportation Systems.

Operating expenses in fiscal 2021 increased 1% to $46.4 million, compared with $45.7 million in fiscal 2020. This increase was primarily due to expenses related to the amortization of intangible assets and acquisition costs related to the TrafficCast acquisition, and an increase in research and development expenses.

Operating income from continuing operations in fiscal 2021 was approximately $0.4 million, compared with an operating loss from continuing operations of approximately $2.1 million in the previous year period. Net income from continuing operations in fiscal 2021 was approximately $0.5 million, or $0.01 per share, compared with a net loss of approximately $1.8 million, or $0.04 per share, in the previous year period.

Non-GAAP Fiscal Fourth Quarter and Full Year 2021 Financial Results

In addition to results presented in accordance with generally accepted accounting principles in the United States (“GAAP”), the company has included the following non-GAAP financial measure: Adjusted income (loss) from continuing operations before interest, taxes, depreciation, amortization, stock-based compensation expense, restructuring costs, executive severance and transition costs and opening inventory fair value adjustment (“Adjusted EBITDA”). A discussion of the company’s use of this non-GAAP financial measure is set forth below in the financial statements portion of this release under the heading “Non-GAAP Financial Measures and Reconciliation.”

Adjusted EBITDA in the fourth quarter of fiscal 2021 was approximately $1.8 million, or 5.5% of total revenues, compared with approximately $2.5 million, or 8.7% of total revenues, in the same quarter a year ago.

Adjusted EBITDA in fiscal 2021 was approximately $7.5 million, or 6.4% of total revenues, compared with approximately $4.2 million, or 3.9% of total revenues in fiscal 2020.

Earnings Conference Call

Iteris will conduct a conference call today to discuss its fiscal fourth quarter and full year 2021 results.

Date: Tuesday, June 1, 2021
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Toll-free dial-in number: +1 800-367-2403
International dial-in number: +1 334-777-6978
Conference ID: 1646227

To listen to the live or archived webcast of the earnings call or to view the press release, please visit the investor relations section of the Iteris website at www.iteris.com.

A replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through June 8, 2021. To access the replay dial information, please click here.

About Iteris, Inc.

Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.

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

This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "feel(s)," "seeks," "estimates," "may," "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the Company’s anticipated demand and growth opportunities, conversion of bookings to revenue, the impact and success of new solution offerings, the Company’s recent acquisition, our future performance, growth and profitability, operating results, and financial condition and prospects. Such statements are subject to certain risks, uncertainties, and assumptions that are difficult to predict and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, federal, state and local government budgetary issues, spending and scheduling changes, funding constraints and delays, including in light of the COVID-19 pandemic; the timing and amount of government funds allocated to overall transportation infrastructure projects and the transportation industry; our ability to replace large contracts once they have been completed; the effectiveness of efficiency, cost, and expense reduction efforts; our ability to achieve anticipated benefits from our sale of our Agriculture and Weather Analytics segment; our ability to successfully complete and integrate acquired assets and companies; our ability to specify, develop, complete, introduce, market and gain broad acceptance of our new and existing product and service offerings; risks related to our ability to recruit and/or retain key talent; the potential unforeseen impact of product and service offerings from competitors, increased competition in certain market segments, and such competitors’ patent coverage and claims; any softness in the markets that we address; adverse effects of the COVID-19 pandemic on our vendors and our employees; and the impact of general economic and political conditions and specific conditions in the markets we address, and the possible disruption in government spending and commercial activities, such as the COVID-19 pandemic, import/export tariffs, terrorist activities or armed conflicts in the United States and internationally. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, as contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC's website (www.sec.gov).

ITERIS, INC.
UNAUDITED CONDENSED CONSOLIDATED
BALANCE SHEETS
(in thousands)

ITERIS, INC.
UNAUDITED CONDENSED CONSOLIDATED
STATEMENT OF OPERATIONS
(in thousands, except per share amounts)

ITERIS, INC.
UNAUDITED SEGMENT REPORTING DETAILS
(in thousands)

ITERIS, INC.
Non-GAAP Financial Measures and Reconciliation

In addition to results presented in accordance with GAAP, the company has included the following non-GAAP financial measure in this release: Adjusted income (loss) from continuing operations before interest, taxes, depreciation, amortization, stock-based compensation expense, and restructuring charges (“Adjusted EBITDA”).

When viewed with our financial results prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) and accompanying reconciliations, we believe Adjusted EBITDA provides additional useful information to clarify and enhance the understanding of the factors and trends affecting our past performance and future prospects. We define these measures, explain how they are calculated and provide reconciliations of these measures to the most comparable GAAP measure in the table below. Adjusted EBITDA and the related financial ratios, as presented in this Annual Report on Form 10-K (“Form 10-K”), are supplemental measures of our performance that are not required by or presented in accordance with GAAP. They are not a measurement of our financial performance under GAAP and should not be considered as alternatives to net income or any other performance measures derived in accordance with GAAP, or as an alternative to net cash provided by operating activities as measures of our liquidity. The presentation of these measures should not be interpreted to mean that our future results will be unaffected by unusual or nonrecurring items.

We use Adjusted EBITDA non-GAAP operating performance measures internally as complementary financial measures to evaluate the performance and trends of our businesses. We present Adjusted EBITDA and the related financial ratios, as applicable, because we believe that measures such as these provide useful information with respect to our ability to meet our operating commitments.

Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. Some of these limitations include:

• They do not reflect our cash expenditures, future requirements for capital expenditures or contractual commitments;
• They do not reflect changes in, or cash requirements for, our working capital needs;
• Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for such replacements;
• They are not adjusted for all non-cash income or expense items that are reflected in our statements of cash flows;
• They do not reflect the impact on earnings of charges resulting from matters unrelated to our ongoing operations; and
• Other companies in our industry may calculate Adjusted EBITDA differently than we do, whereby limiting its usefulness as comparative measures.

Because of these limitations, Adjusted EBITDA and the related financial ratios should not be considered as measures of discretionary cash available to us to invest in the growth of our business or as a measure of cash that will be available to us to meet our obligations. You should compensate for these limitations by relying primarily on our GAAP results and using Adjusted EBITDA only as supplemental information. See our audited consolidated financial statements contained in this Form 10-K. However, in spite of the above limitations, we believe that Adjusted EBITDA is useful to an investor in evaluating our results of operations because these measures:

• Are widely used by investors to measure a company’s operating performance without regard to items excluded from the calculation of such terms, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired, among other factors;
• Help investors to evaluate and compare the results of our operations from period to period by removing the effect of our capital structure from our operating performance; and
• Are used by our management team for various other purposes in presentations to our Board of Directors as a basis for strategic planning and forecasting.

The following financial items have been added back to or subtracted from our net income (loss) when calculating Adjusted EBITDA:

• Interest expense. Iteris excludes interest expense because it does not believe this item is reflective of ongoing business and operating results. This amount may be useful to investors for determining current cash flow;
• Income tax. This amount may be useful to investors because it represents the taxes which may be payable for the period and the change in deferred taxes during the period, and may reduce cash flow available for use in our business;
• Depreciation expense. Iteris excludes depreciation expense primarily because it is a non-cash expense. These amounts may be useful to investors because it generally represents the wear and tear on our property and equipment used in our operations;
• Amortization. Iteris incurs amortization of intangible assets in connection with acquisitions. Iteris also incurs amortization related to capitalized software development costs. Iteris excludes these items because it does not believe that these expenses are reflective of ongoing operating results in the period incurred. These amounts may be useful to investors because it represents the estimated attrition of our acquired customer base and the diminishing value of product rights;
• Stock-based compensation. These expenses consist primarily of expenses from employee and director equity based compensation plans Iteris excludes stock-based compensation primarily because they are non-cash expenses and Iteris believes that it is useful to investors to understand the impact of stock-based compensation to its results of operations and current cash flow;
• Restructuring charges. These expenses consist primarily of employee separation expenses, facility termination costs, and other expenses associated with Company restructuring activities. Iteris excludes these expenses as it does not believe that these expenses are reflective of ongoing operating results in the period incurred. These amounts may be useful to our investors in evaluating our core operating performance;
• Acquisition costs. In connection with its business combinations, Iteris incurs professional service fees, changes to the fair value of contingent consideration, and other direct expenses. Iteris excludes such items as they are related to acquisitions and have no direct correlation to the operation of Iteris’ business. These amounts may be useful to our investors in evaluating our core operating performance..
• Executive severance and transition costs. Iteris excludes executive severance and transition costs because it does not believe that these expenses are reflective of ongoing operating results in the period incurred. These amounts may be useful to our inve

Iteris Contact
Douglas Groves ​​​​​​​
Senior Vice President and Chief Financial Officer
Tel: (949) 270-9643
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

• Initial funding commitment aims to participate in the fast growing solar power generation sector in Brazil

LONDON--(BUSINESS WIRE)--VH Global Sustainable Energy Opportunities plc (“GSEO”) – a £243m London-listed Investment company – is proud to announce a $63m commitment to fund the construction of 18 remote distributed solar generation projects across ten Brazilian states with a total capacity of 75MW. Brazil is a Key Partner of the OECD and one of the world’s fastest growing energy markets.

An initial tranche of $4m will fund the construction of four projects across Rio de Janeiro, which once operational will provide 5MW of energy to a combination of local communities and regional utilities.

The initial tranche will be followed by a second $24m tranche in June to fund up to eight projects across Sergipe, Rio Grande do Norte, Paraiba, Mato Grosso do Sul, Piaui, Bahia and Para, which will provide 28MW of energy.

The remaining $35m will be deployed by August across Rio de Janeiro, Minas Gerais, Bahia and Sao Paulo to build six solar projects which will generate 42MW of power.

The fully-equity funded projects are at the ready-to-build stage and are expected to be operational in less than six months from investment. Once operational, the expected annual returns will exceed the Company’s target annual dividend yield of 5% and total return of 10%.

An independent assessment of the project, as per the process, has concluded that it is compliant with the Company’s six relevant Sustainable Development Goals – goals 3, 7, 8, 9 13 and 17 – and will do no significant harm in the context of the remaining eleven goals.

GSEO is partnering with developer Energea Global LLC, which has a proven track record in developing and operating distributed power generation assets in Brazil.

The aim of this investment is to support and accelerate the growth of a sustainable energy system in Brazil by improving and securing localised access to clean energy and helping to lower Brazilian energy prices.

The projects involve building solar PV farms to supply energy to creditworthy commercial and industrial energy users, as well as large multinational corporations with operations in Brazil. About half of the total production capacity is to be contracted with a multinational telecoms company. The lengths of the contracts will be 20 years on average and will be inflation-linked.

Approximately 37% of the net proceeds raised on IPO are currently committed to the Enhanced Pipeline Assets.

Eduardo Monteiro, Co-Chief Investment Officer of Victory Hill Capital Advisors LLP (“Victory Hill”), investment adviser to GSEO, said: “As promised to investors, this funding commitment marks the beginning of a very exciting journey for the Company in Brazil, where we can support real and lasting improvements in the country’s energy infrastructure. Brazil is experiencing rapid growth in its energy sector and there is significant potential for investors with the right expertise to help contribute to the country’s growth with cleaner and reliable sources of power.”

Mike Silvestrini, Managing Partner at Energea, said: “Brazil is one of the most exciting markets in the world when it comes to distributed generation and we are proud to have the backing of an experienced team at Victory Hill to develop further distributed solar power generation across the country. Right now, Brazil has the attractive combination of enabling policy landscape, strong energy economics and high degrees of customer adoption, marking it as a prime opportunity for investors looking to have a positive impact on the world and help battle the climate crisis.”

Ends

Notes to editors

Distributed power generation: Distributed generation refers to the use of technology such as solar panels to generate electricity near to where it will be used, serving either a single home or business, or forming part of a ‘microgrid’ tied into the larger electricity network which can be used to serve thousands of homes and businesses. Distributed generation can help support delivery of clean, reliable power to additional customers and reduce electricity losses along transmission and distribution lines and help lower energy prices.

About Victory Hill Capital Advisors LLP

Victory Hill Capital Advisers LLP is the investment-focused subsidiary of Victory Hill Capital Group LLP. Victory Hill Capital Advisors LLP (FRN 938594) is an Appointed Representative of G10 Capital Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 648953).

Victory Hill is based in London and was founded in May 2020 by an experienced team of energy financiers that have spun-out of a large established global project finance banking group. The team have an established track record built over five years while working together in their previous roles and participating in over $37.1bn in sustainable energy project transaction values, generating over 24.2 per cent. equity returns. In addition, the team has also participated in more than $200bn in transaction values across 91 conventional and renewable energy-related transactions in over 30 jurisdictions worldwide, throughout their individual careers. The average experience per individual is 21 years of relevant energy finance experience.

The Victory Hill team deploys its experience across different financial disciplines to holistically assess investments from different perspectives. The firm pursues operational stability and well-designed corporate governance to generate sustainable positive returns for investors. It focuses on supporting and accelerating the Energy Transition and the attainment of the UN Sustainable Development Goals.

Victory Hill is a signatory of the United Nations Principles for Responsible Investing (UN PRI), the United Nations Global Compact (UN GC) and is a formal supporter of the Financial Stability Board’s Task-Force on Climate-related Disclosures (TFCD).

About Energea

Energea was launched in 2017 by American entrepreneurs Mike Silvestrini and Chris Sattler, who have built successful US distributed generation businesses, Greenskies Renewable Energy and North American Power. Today, Energea Global develops projects across multiple countries around the world and have built a presence in Brazil over the last four years with over 24 staff members based in Brazil and the US. The company is an expert developer and operator of highly differentiated distributed generation projects.

For more information on Victory Hill
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Ryan Becnel
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NEW YORK--(BUSINESS WIRE)--#dividend--The Board of Directors of Hess Corporation (NYSE: HES) today declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on June 30, 2021 to holders of record at the close of business on June 15, 2021.

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at http://www.hess.com.

For Hess Corporation

Investor Contact:
Jay Wilson
(212) 536-8940

Media Contact:
Lorrie Hecker
(212) 536-8250
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~Acquisition marks Lineage’s entrance into the European freight forwarding industry, strengthening efficiencies in global supply chain offering~

NOVI, Mich.--(BUSINESS WIRE)--#onelineage--Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced it has closed the acquisition of UTI Forwarding (“UTI”), a renowned Rotterdam-based freight forwarder.

The acquisition was first announced on April 26, 2021.

UTI Forwarding is a leading freight forwarding company that is strategically located in Rotterdam, Netherlands, which specializes in the exporting and importing of Full Container Load (“FCL”) cargo, handling both temperature-controlled and other containerized goods.

The acquisition marks Lineage’s entrance into the freight forwarding industry in Europe, further strengthening Lineage’s end-to-end supply chain offering by advancing the operational synergies for the movement of goods through Lineage’s global warehouse network.

“Together with UTI we will create even greater opportunities to provide end-to-end supply chain offerings for our shared customers,” said Mike McClendon, President of International Operations & EVP of Network Optimization at Lineage. “We are thrilled to close on this acquisition and officially welcome UTI into the Lineage family.”

About Lineage Logistics

Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 340 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 15 countries across North America, Europe, Asia-Pacific, and South America. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was recognized as the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com)

Lineage Logistics
Megan Hendricksen
949.247.5172
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Allison Transmission FracTran™ will drive productivity and deliver sustainability for fracturing fleets

INDIANAPOLIS--(BUSINESS WIRE)--Allison Transmission, a leading designer and manufacturer of conventional and electrified propulsion solutions and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions for commercial and defense vehicles, today announced the launch of the Allison FracTran, a revolutionary hydraulic fracturing transmission.

Purpose built based on the specific performance requirements of the customer, the FracTran is an all-new Oil Field Series^TM transmission, designed to meet the unique and continually evolving demands of the hydraulic fracturing industry. This next-generation solution is a result of extensive voice of customer insights as well as an analysis of duty cycle information from decades of Allison products operating in this application. This significant front-end effort ensures FracTran will provide differentiated value, meet the evolving needs of Allison’s customers, and deliver the Allison Brand Promise of providing the most reliable and valued propulsion solutions in the world.

“As hydraulic fracturing fleets and operators move toward higher horsepower, smaller spreads to reduce their environmental footprint, and seek shorter times to reach depth in search of improved sustainability, efficiency and profitability, Allison is innovating with them to remain a desired partner of choice for the energy market,” said John Coll, Senior Vice President of Global Marketing, Sales, and Service at Allison Transmission. “Allison is committed to our energy customers and has invested significant resources to bring them the product they demanded, FracTran.”

Based on current market demand, FracTran will be launched with a rating of 3,300 horsepower and 10,000 lb.-ft. of input torque. However, FracTran is capable of up to 3,500 horsepower with no hardware modifications required. This robust hydraulic fracturing transmission will deliver unparalleled performance in high pressure duty cycles in the harshest of operating environments. Key benefits and specifications of the FracTran include high reliability with a service life up to 25,000 hours, an overhaul that provides a second life without hard parts replacement resulting in low total cost of ownership, and eight ranges available with multiple gear ratio options to meet the unique performance demands of our customers. In addition, the FracTran offers filter and fluid life prognostics, a transmission-mounted control module, torsional measuring diagnostics, and an on-rig telematics gateway.

Allison’s commitment to quality and customer support extends beyond the purpose built FracTran hardware. FracTran will be backed by Allison’s Authorized Service Network of more than 1,400 Allison Authorized Dealers and Distributors. Each location is outfitted with specialized tools and equipment, and teams of trained and certified technicians that will ensure FracTran delivers optimized total cost of ownership by minimizing nonproductive time.

Allison hosted an event at its global headquarters in Indianapolis today to kick off its FracTran road show. Over the next several months, the company will visit dozens of cities in North America to showcase FracTran to our valued customers and industry partners, in preparation for start of production in 2023.

For more information on the Allison FracTran and to view footage from today’s event, please visit https://tinyurl.com/FracTranMediaEvent.

About Allison Transmission

Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of vehicle propulsion solutions for commercial and defense vehicles, the largest global manufacturer of medium- and heavy-duty fully automatic transmissions, and a leader in electrified propulsion systems that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has more than 1,400 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.

Claire Gregory
Director, Global External Communications
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317-694-2065

Demonstrates strong progress in completeness of vision, offers robust end-to-end solutions

IRVINE, Calif.--(BUSINESS WIRE)--#3pl--Ingram Micro Commerce & Lifecycle Services today announced that it has been named a Visionary Third-Party Logistics provider in Gartner’s recent industry report: 2021 Magic Quadrant for Third-Party Logistics, North America. The highly regarded biannual report evaluates third-party logistics providers conducting significant business in the U.S., Canada and Mexico.

2021 marks Ingram Micro Commerce & Lifecycle Services’ third appearance in the Gartner Magic Quadrant for 3PLs report. Through each new analysis, the company has demonstrated more advanced and thorough logistics solutions to support customers’ needs through all stages of their product lifecycles. The most recent report highlights Ingram Micro’s strengths in the following areas:

• Comprehensive end-to-end services, including supply chain planning, forward and reverse logistics, transportation, IT asset disposition and management, product liquidation and secondary market sales;
• Advanced technology platforms including Shipwire, BlueIQ and Renugo, as well as investments and innovations under development in software and hardware automation to further support retail, e-commerce and enterprise customers; and
• A commitment to reduce the company’s environmental impact through BREAAM-certified sites, zero-waste practices, transportation optimization and sustainable packaging.

“We are proud to be recognized as a Visionary supply chain and logistics leader in Gartner’s 2021 Third-Party Logistics report,” said Glen Sutton, senior vice president, Ingram Micro Commerce & Lifecycle Services. “Our service offerings are more robust than ever, which is validated by the diversity of new customers we’re working with and the growth and expansion of our existing relationships. Furthermore, over the past year, our global warehouse network and operations teams delivered amazing results, handling the unprecedented demand for e-commerce and the challenges of the global pandemic with admirable agility, adherence to safety precautions, and a resolute commitment to success.”

Gartner states: “Visionaries display process, technological or business model innovation, and are influencing […] the direction of the logistics industry,” adding that customers seek such providers for their “less-regimented and potentially innovative approach to logistics.”

The 2021 Gartner Magic Quadrant for Third-Party Logistics, North America, assessed 19 elite 3PL providers in writing its report. Gartner noted that this year, the global pandemic shed clear light on the value of strategic partnerships between shippers and 3PLs. It also emphasized the importance of continuous improvement, innovative and technology-driven solutions, and supply chain visibility.

About Ingram Micro Commerce & Lifecycle Services

Ingram Micro Commerce & Lifecycle Services provides global supply chain solutions that connect supply and demand. From cross-border fulfillment to dropship and returns management, IT asset disposition, re-marketing, distribution and more, our solutions drive growth across the commerce and technology markets.

We proudly serve customers ranging from fast-growing brands to Global 2000 enterprises and are dedicated to facilitating their success through our global warehousing network, world-class technology, strategic partnerships, and decades of experience. Learn more at www.ingrammicroservices.com.

Lauren Jow
Global Brand Manager
Ingram Micro Commerce & Lifecycle Services
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TULSA, Okla.--(BUSINESS WIRE)--Helmerich & Payne, Inc. (NYSE: HP) today announced that John Lindsay, President and Chief Executive Officer; Mark Smith, Senior Vice President and Chief Financial Officer; Dave Wilson, Vice President of Investor Relations; and other members of H&P management plan to participate in the following investor conferences during June 2021. Participation by the management team will vary by event.

• 2021 Virtual Wells Fargo Energy Conference on Thursday, June 3, 2021

• 2021 RBC Capital Markets Global Energy, Power & Infrastructure Conference on Tuesday, June 8, 2021

• The TPH Hotter ’N Hell Conference on Thursday, June 10, 2021

• The J.P. Morgan 2021 Energy, Power & Renewables Conference on both Tuesday and Wednesday, June 22-23, 2021

Investor slides to be used during the conferences will be available for download on the company’s website, within Investors, under Presentations, the afternoon of June 1, 2021.

About Helmerich & Payne, Inc.

Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com.

Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.helmerichpayne.com.

Dave Wilson, Vice President of Investor Relations
918-588-5190
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Barriers to broader adoption include geographic restrictions, improved Li-ion battery technology, and higher upfront costs in the pricing of new projects

BOULDER, Colo.--(BUSINESS WIRE)--#electricity--A new report from Guidehouse Insights explores drivers for long duration energy storage and the technologies being implemented to provide long duration storage services.

Stationary energy storage is projected to play a major role in future decarbonized electricity grids around the world. Government policies, utility procurement targets, and regulatory bodies have begun to forecast greater levels of utility-scale energy storage (UES) deployments, with project sizes of larger power capacity also being planned around the world. According to a new report from Guidehouse Insights, North America, Western Europe, and Asia Pacific are expected to account for approximately 89% of the new long duration energy storage capacity installed worldwide through 2030.

“There is little agreement on which attributes of energy storage will be required and valued over time, specifically the energy capacity or duration of energy storage that could be cost-effective for certain electricity grid services and applications,” says Ricardo Rodriguez, research analyst with Guidehouse Insights. “Nevertheless, as plans to deploy substantial amounts of new renewable energy generation mount, future electricity grids will likely require different types of energy storage than those currently being deployed, particularly for long duration challenges and seasonal capacity challenges.”

Despite the numerous advantages of long duration energy storage technologies, actual deployments have been limited so far. Barriers to broader adoption include geographic restrictions, lack of trust in new technologies, low round-trip efficiencies, improved Li-ion battery technology, and higher upfront project costs.

The report, Market Data: Utility-Scale Long Duration Energy Storage, examines the long duration energy storage market in seven major geographic regions, presenting a 10-year forecast and market sizing from 2021 through 2030. The report provides forecasts for the long duration storage market segmented by technology, application, and discharge duration. Applications included in the forecasts consist of capacity and reserves, transmission and distribution (T&D) asset optimization, solar energy shifting, and wind energy shifting. All forecasts are also segmented by duration for each region, technology, and application. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights

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

About Guidehouse

Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 8,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.

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

Lindsay Funicello-Paul
+1.781.270.8456
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Winners to be featured in company’s first-ever “Protect Our Watersheds” wall calendar

MECHANICSBURG, Pa.--(BUSINESS WIRE)--Pennsylvania American Water today announced the winners of its 19^th Annual “Protect Our Watersheds” art contest, with a sixth-grade student from Allegheny County scoring top honors. The company received nearly 200 entries from fourth-, fifth- and sixth-graders across the Commonwealth.

Sixth grader Ishi Gupta of South Fayette Middle School earned the grand prize for her artwork, which will be featured on the cover of Pennsylvania American Water’s first-ever “Protect Our Watersheds” wall calendar. The calendars will be printed and distributed across the Commonwealth later this year.

“With increasing emphasis on environmental education in schools, we are seeing more students take an active role in watershed preservation and protection,” said Pennsylvania American Water President Mike Doran. “Activities like our art contest help to remind us that we all have a part in protecting our water sources.”

Gupta’s artwork earned first prize among western Pennsylvania entries, followed by Clare Johnson, a sixth-grade student from Thomas Jefferson Middle School (Allegheny County), in second place. Sixth grader Lizzie O’toole McKenna, also of Thomas Jefferson Middle School, finished third.

In eastern Pennsylvania, the first-place winner is Lia Limongelli, a sixth-grade student from Holy Rosary School (Luzerne County), with second place going to fourth-grader Veronica Griffith from Berks County, and fifth-grader Bianca Tolorico from St. Mary Mt. Carmel School (Lackawanna County) earning third place. The winning students will receive Barnes & Noble gift cards.

In addition, six runners-up have been selected and will also have their artwork featured in the calendar. They are Arjun Kairi, a fourth-grader at Mt. Lebanon Montessori School (Allegheny County), Sydney Ogoreuc, a sixth-grader at Thomas Jefferson Middle School (Allegheny County), Morgan Riddle, a sixth-grader from Southmoreland Middle School (Fayette County), Alice Hollenbach, a fifth-grader from Meadowbrook Christian School (Union County), Lillian Michael, a fourth-grader from Fairview Elementary (Luzerne County), and Eileen Wang, sixth-grader from Harrisburg Academy (Cumberland County).

Pennsylvania American Water’s contest requires that the students accompany their artwork with a short description of how watershed protection affects them personally.

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 2.4 million people. With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 7,000 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to an estimated 15 million people in 46 states. American Water provides safe, clean, affordable and reliable water services to our customers to help make sure we keep their lives flowing. For more information, visit amwater.com and follow American Water on Twitter, Facebook and LinkedIn.

Media:
Heather DuBose
Senior Specialist, External Affairs – Western PA
C: 412-335-9925
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• Digital project delivers data management and insights across Aramco’s entire drilling fleet, making it the largest deployment in Baker Hughes’ history
• Cross-training of local talents and a new digital remote center create a foundation for transformation

DHAHRAN, Saudi Arabia--(BUSINESS WIRE)--Baker Hughes (NYSE:BKR) announced it has deployed its industry-leading remote operations digital technology across Aramco’s drilling operations, encompassing 200+ sites, the largest deployment of its kind in Baker Hughes’ history.

Building upon Aramco’s existing industry-leading data management infrastructure and capabilities, this project provides the company with a single solution that covers data aggregation from the edge; real-time, unified data streaming and visualization; data management; software development services; rig-site digital engineers; and monitoring personnel. The project supports Aramco’s ongoing efforts to further drive digital opportunities and initiatives and to enhance operating performance and reduce emissions.

Baker Hughes’ technology, delivered through the WellLink solution, includes the following benefits that build on Aramco’s current digital capabilities:

• Remote monitoring personnel receive faster, higher quality, standardized, real-time data delivered through a modern user experience, enabling enhanced well monitoring and management.
• Field-based personnel have access to a unified view of wellsite operations from all providers on location, enabling effective and proactive mitigation of drilling hazards.
• Office-based personnel have easy access to current and historical well data for quick visualization and benchmarking, enabling proactive operations management with a direct line to the wellsite.

By connecting all drilling sites with an integrated solution, Aramco enhances its view of its drilling operations in real time. Following the contract award to Baker Hughes in 2020, the combined teams worked in close collaboration and deployed the technology 50% faster than originally planned, despite working under pandemic conditions. Baker Hughes teams conducted more than 400 onshore and offshore trips across 350,000 kilometers (217,480 miles) to install rig-site edge devices and integrate data streaming, monitoring and visualization capabilities into Aramco’s existing digital infrastructure.

To support the needs of 2,000+ end users and 24/7 drilling operations, Baker Hughes and Aramco established a dedicated center staffed by a multi-disciplinary team of software engineers, data professionals and field service technicians. As part of Baker Hughes’ localization strategy, the team is staffed with 90% Saudi nationals who are being cross-trained on essential digital competencies in data operations.

“This remote operations deployment, the largest in Baker Hughes’ history, is a strong example of how we are investing for growth with customers who are driving digital transformation at a rapid pace, such as Aramco,” said Maria Claudia Borras, executive vice president of Oilfield Services at Baker Hughes. “We will continue to expand our upstream digital capabilities to transform core operations, improve efficiency and reduce emissions. I am proud of the Baker Hughes team’s resilience in safely executing this complex project amid the challenges of the pandemic.”

The Aramco deployment builds on Baker Hughes’ remote operations capabilities, spanning remote drilling, logging, and production monitoring, to remote monitoring and diagnostic services for turbomachinery and large-scale industrial and renewable energy applications. Baker Hughes currently executes 87% of global drilling services jobs remotely, leading to consistently better outcomes for customers.

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

Madonna Mekhail
+971 (4) 8211708
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TAOS, N.M.--(BUSINESS WIRE)--Kit Carson Electric Cooperative, Inc (KCEC) is installing nine additional electric vehicle (EV) charging stations in the Enchanted Circle to complement KCEC's regional beneficial electrification plan for a greener, cleaner future. KCEC commends the hard work by the municipalities, tribes, governments, and Enchanted Circle COAD members to aid the transition to EVs in Northern New Mexico. Not only will EV's reduce carbon emissions, but they will also provide a new opportunity for rural communities to invest in more carbon-efficient vehicles.

The KCEC Board of Trustees unanimously approved the nine additional EV chargers to KCEC's current EV infrastructure. The future of transportation is shifting toward a carbon-free environment that relies on EV vehicles, charging stations and new cars with an extended battery range. The addition of the new stations will create opportunities for locals, tourists and businesses to invest in EVs.

"We are creating a clean environment for our communities to preserve the natural beauty of Northern NM. Creating a carbon-free climate will raise the standard for a better quality of life for our younger generations. We are investing in their future,” says CEO, Luis A. Reyes

KCEC wants to thank the Town of Taos, EC-COAD members, Renewable Taos, Taos County, Village of Red River, Village of Eagle Nest, Village of Questa, Village of Angel Fire and other critical stakeholders for their cooperation on the EV project. The participation and buy-in from these entities’ plan to introduce EVs to their fleets helps to support a regional carbon reduction footprint.

In a joint effort, KCEC is engaging with local and state stakeholders to find the desire for electrification infrastructure opportunities in our communities. Through a series of meetings, KCEC and these organizations have created a working group to address issues regarding KCEC's Beneficial Electrification Plan.

Sol Luna, a local solar installer and KCEC partner, will utilize a local labor force to install the EV charging stations in KCEC's service territory. KCEC's overall Beneficial Electrification Plan will import and introduce new economic development opportunities to the region and fill the demand for long-range electric vehicle drivers.

Once the EV Project is completed, KCEC will have 19 EV charging stations with 28 charging points for the communities to use. In May of 2020, KCEC received a New Mexico Environment Department (NMED) grant award, for $200,119, as one of 43 projects throughout the state from the Volkswagen Settlement Fund. The grant is meant to initiate an EV charging station network in the state and the Enchanted Circle.

KCEC's great partnership with its wholesale energy provider, Guzman Energy, gives KCEC the flexibility to reduce its carbon footprint while adapting to the transition of renewable energy. Guzman Energy has been a partner of KCEC since 2016 and is helping KCEC meet its goal of providing 100% daytime solar energy by 2022 through the development and commissioning of several solar arrays throughout the region.

About Kit Carson Electric Cooperative

Formed in 1944, Kit Carson is a member owned electric distribution cooperative in northern New Mexico and is the second largest cooperative in the state. Kit Carson is one of 16 electric cooperatives that serve rural New Mexico communities, serving nearly 30,000 members in Taos, Colfax and Rio Arriba counties. To learn more about Kit Carson, visit www.kitcarson.com.

Jill Petersen
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DUBLIN--(BUSINESS WIRE)--The "Ship Repairing Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global ship repairing market as it emerges from the COVID-19 shut down.

The global ship repairing market is expected to grow from $30.16 billion in 2020 to $32.29 billion in 2021 at a compound annual growth rate (CAGR) of 7.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $39.04 billion in 2025 at a CAGR of 4.9%.

Companies Mentioned

• Hyundai Mipo Dockyard Co., Ltd
• China Shipbuilding Industry Corporation (CSIC)
• Damen Shipyards Group
• Sembcorp Marine Ltd.
• Oman Drydock Company
• Cochin Shipyard Limited
• United Shipbuilding Corporation
• Arab Shipbuilding and Repair Yard
• Fincantieri S.p.A
• Keppel Offshore and Marine
• Orskov Yard A/S
• Tsuneishi Holdings Corporation
• Swissco Holdings Limited
• Egyptian Ship Repair & Building Company
• Desan Shipyard
• Dae Sun Shipbuilding & Engineering Co. Ltd.
• Dundee Marine & Industrial Services Pte Ltd.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
• Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market research findings.
• Benchmark performance against key competitors.
• Utilize the relationships between key data sets for superior strategizing.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider ship repairing market, and compares it with other markets.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
• The ship repairing market section of the report gives context. It compares the ship repairing market with other segments of the ship repairing market by size and growth, historic and forecast.

The ship repairing market consists of revenue generated by sales of ship repairing services by entities (organizations, sole traders and partnerships) that operate shipyards. Only goods and services traded between entities or sold to end consumers are included.

The ship repairing market covered in this report is segmented by vessel type into oil and chemical tankers; bulk carriers; general cargo; container ships; gas carriers; offshore vessels; passenger ships and ferries; mega yachts and other vessels, and by application into general services; dockage; hull part; engine parts; electric works; auxiliary services.

The increasing seaborne trade is anticipated to drive the growth of the ship repairing market. Seaborne transport, which plays a key role in the development of a country, involves ports, inland water systems, ship repair, shipping and ship building. According to the United Nations Conference on Trade and Development (UNCTAD), international seaborne trade volume increased from 10.7 billion tons in 2017 to 11.0 billion tons in 2018 and is projected to expand at an average annual growth rate of 3.5% during 2019-2024. According to the Indian Ministry of Shipping, approximately 70% of India's value trading and 95% of India's volume is handled by seaborne transport. Upswing activities in sea-borne trade activities increase the need for regular maintenance and repairs. This scenario is expected to augment the demand for the ship repairing market.

For more information about this report visit https://www.researchandmarkets.com/r/qtamp2

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Champion Energy Services today announced that three Texas high school seniors have been selected to receive the 2021 Champion Scholars Award. Recipients were chosen from several hundred applicants for their academic excellence and contributions to their communities. The students will receive scholarship awards totaling $10,000 in 2021.

Champion Energy Services and its parent company Calpine Corporation remain committed to making a positive impact on the communities they serve. Now in its seventh year, the Champion Scholars Award was formed by Champion Energy Services to recognize promising young leaders who are active champions in their communities. To date, the Champion Scholars Award has provided $70,000 in scholarships to high school seniors pursuing higher education.

While the 2021 Champion Scholars Award recipients have diverse backgrounds and educational aspirations, they are united in their extensive service records and remarkable leadership qualities. Despite a challenging end to their high school careers, these graduates have allowed no concessions in their dedication to service. From leading socially distanced birthday parades to coordinating meals for displaced families following a natural disaster, these students have demonstrated an unwavering commitment to bettering the world around them.

The 2021 Champion Scholars Award recipients include:

• Michael Morse of Clear Lake High School;
• Michaela Sinclair of The Woodlands College Park High School; and
• Grace Ross of Veritas Classical Academy.

“Each of these students has an impressive history of being an active champion within their community,” said Michael Sullivan, CEO of Champion Energy Services. “Our hope is that these Champion Scholars will continue to embrace the spirit of service and carry it with them into their future endeavors.”

About Champion Energy Services

Champion Energy Services, a subsidiary of Calpine Corporation, is one of the largest retail electric providers in the United States. Champion Energy serves residential, governmental, commercial and industrial customers in deregulated electric energy markets across the U.S. Champion Energy’s growth is driven by competitive, straightforward pricing and a reputation for maintaining the highest levels of satisfaction with its customers. For more information, visit https://www.championenergyservices.com/.

Brett Kerr
VP, Governmental & Regulatory Affairs
(713) 830-8809
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Coolisys Hires Key Management As It Moves Toward Commercial Launch

LAS VEGAS--(BUSINESS WIRE)--$AGH #AP--Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced that its subsidiary, Coolisys Technologies Corp.^® (“Coolisys”) has formed the subsidiary, TurnOnGreen, Inc., to provide flexible and scalable electric vehicle supply equipment (“EVSE”) and services.

TurnOnGreen was founded with the goal to be an industry leader with a robust product portfolio that Coolisys anticipates will include residential, commercial, and ultra-fast charging stations. TurnOnGreen also provides full-service eMobility charging management application software and network services. Coolisys’ current ACECOOL products will be rebranded as TurnOnGreen products. Coolisys has hired three key executives to join Amos Kohn, President and CEO of Coolisys, in leading this new subsidiary.

Mr. Kohn, as President and CEO of TurnOnGreen, stated, “As we move closer to the commercial launch of our products, we are pleased to have an experienced management team to lead the charge and build out our brands. With a shared mission to do our part to fight climate change, this team continuously strives to bring to emerging markets innovative solutions that provide value for the Company, its consumers and its shareholders. With our 50 years of experience in the power electronics business, we have the knowledge base to enable a successful launch of our product lines.” Mr. Kohn concluded, “Further, given the talents of our new management team, I have the utmost confidence in our ability to quickly scale and provide EV drivers with charging options at home, work and destination locations.”

Joining Coolisys and TurnOnGreen are three individuals with expertise in sales, marketing and technology, respectively:

Marcus Charuvastra, Chief Revenue Officer

Marcus Charuvastra is an accomplished leader with 20 years of experience in strategic planning, sales, services, marketing and business and organizational development. At TurnOnGreen, Marcus leads the sales, mobility ecosystem relationships, and business development functions.

Before joining TurnOnGreen, Mr. Charuvastra spent 11 years at Targeted Medical Pharma serving as Vice President of Operations and as the Managing Director of this microcap biotech start-up. During his tenure, he was instrumental in taking Targeted Medical Pharma public. Mr. Charuvastra was previously Director of Sales and Marketing at Physician Therapeutics and was responsible for building the sales and distribution network in the United States and abroad. He is a graduate of UCLA.

Jodi Brichan, Executive Chairwoman

Jodi Brichan is a commercialization expert with more than 20 years of experience in bringing new products to market in hypergrowth healthcare industries such as pharmaceuticals, medical devices, energy devices and life sciences. With more than five years of board experience, Jodi joins TurnOnGreen as Executive Chairwoman supporting the organizational development of TurnOnGreen and its board of directors as well as its executive management team with a view to support the CEO and President and the other members of the management team in striving to achieve TurnOnGreen’s goals, concentrating on its marketing initiatives to drive revenue and shareholder value.

Before joining TurnOnGreen, Ms. Brichan served as CEO of a wholly owned animal health subsidiary of an EU-based pharmaceutical company that develops new chemotherapy products to treat cancer in companion animals. She also served as a communications executive at two of the leading global communications networks, Omnicom and Publicis. She has significant experience in guiding successful new product launches, creating award-winning advertising campaigns, directing digital transformation initiatives, and leading successful business expansion into new markets. As an EV driver for the past eight years, she is passionate about the societal benefits of driving electric. She holds a B.A.A. from Central Michigan University in Mount Pleasant, Michigan.

Douglas Gintz, Chief Technology Officer

Douglas P. Gintz serves as Chief Technology Officer at Coolisys Technologies, Corp. He is responsible for driving strategic software initiatives and delivering key technologies essential to the market penetration of the Coolisys’ EV charging systems.

Mr. Gintz is a programmer, marketing technologist and designer who has been delivering essential technology and content solutions to a wide audience for more than 30 years. Specializing in emerging technologies, he has developed DNA reporting engines, medical billing software, manufacturing compliance systems and e-commerce applications for companies ranging from startups to multinational corporations. Mr. Gintz’s hands-on experience in bringing retail products to market includes concept development, research, planning, programming and package design. His previous leadership roles include positions such as CEO, CTO, CIO, and CMO.

Mr. Charuvastra stated that “The future is bright for TurnOnGreen. We have the products, the people and the passion to quickly enter the dynamic EV charging market and quickly scale to provide affordable EV chargers for home, businesses and destination locations.”

About Ault Global Holdings, Inc.

Ault Global Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holdings’ headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.

About Coolisys Technologies Corp.

Coolisys Technologies Corp. designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical and life-sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include automotive, defense, aerospace, medical and healthcare, industrial, and telecommunications. Coolisys brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. Coolisys is headquartered in Milpitas, CA; www.Coolisys.com.

About TurnOnGreen, Inc.

TurnOnGreen provides flexible and scalable electric vehicle (EV) charging solutions with a portfolio of residential, commercial and ultra-fast charging station products, charging management software, and network services. We believe that we are the only green-energy technology company in the EV charging market that develops a broad range of robust products with smart service management support and cultivates strong partnerships with the passion and purpose that powers positive change. TurnOnGreen is headquartered in Milpitas, CA; www.TurnOnGreen.com.

Forward-Looking Statements

This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.AultGlobal.com.

Contacts at TurnOnGreen:
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Contacts at Ault Global Holdings:
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EL PASO, Texas--(BUSINESS WIRE)--As required by the Public Utility Regulatory Act and the Public Utility Commission Texas (PUC) Rules, El Paso Electric (EPE, or the Company) submitted a base rate application for its Texas customers today.

“The timing is based on the PUC’s Rules that require EPE to file a base rate review no later than four years from the final order in its last rate review, which was December 18, 2017,” stated EPE President and CEO Kelly A. Tomblin. “We are sensitive to the timing of this filing, but we must act according to the process, rules and procedures set forth by the PUC. We continue to be committed to providing safe and efficient energy to every customer, and have invested in maintaining the reliability our customers expect as we prepare for weather extremes.”

The 2021 base rate application asks the PUC to consider almost $1 billion of investments the Company has made into its generation, transmission, and distribution system. This includes the need for addressing additional growth within the service region and the necessary replacements made to infrastructure in order to ensure reliable service. If approved by the PUC, the base rate filing will result in a monthly bill increase of $11.76, or 13.36%, for an average Texas residential customer utilizing 686 kilowatt hours (kWh) .

The filing also proposes a reduction to the minimum bill for all non-grandfathered distributed generation (DG) residential and small commercial customers, from the current $30 to $24.02 and $25.19 respectively. This proposal includes the elimination of the minimum bill for those DG customers who have elected the demand charge time of day rate. Additionally, EPE is proposing to return approximately $2.5 million in excess deferred taxes to customers over the next four years. The application also introduces a new plan to support the deployment of electric vehicle (EV) charging stations to ensure our region is ready for the transition to EVs.

The regulatory process can take anywhere from six months to a year to reach a final approved decision. The next step in the process will be for the PUC to assign an Administrative Law Judge and establish a procedural schedule.

About El Paso Electric

El Paso Electric is a regional electric utility providing generation, transmission, and distribution service to approximately 443,240 retail and wholesale customers in a 10,000-square mile area of the Rio Grande valley in west Texas and southern New Mexico.

Facebook @ElPasoElectric | www.epelectric.com | Twitter @ElPasoElectric

Javier C. Camacho
Public Relations Specialist
El Paso Electric Company
C: 915.487.4753
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TORONTO--(BUSINESS WIRE)--Cybin Inc. (NEO:CYBN) (OTCQB:CLXPF) (“Cybin” or the “Company”), a biotechnology company focused on progressing psychedelic therapeutics, today announced the sponsorship of Kernel’s feasibility study of its Kernel Flow technology to measure Ketamine’s psychedelic effect on cerebral cortex hemodynamics.

On January 11, 2021 Cybin announced that it would be partnering with Kernel to leverage Kernel’s proprietary Kernel Flow device for psychedelic-based studies and clinical trials. The Kernel Flow device is the first-of-its-kind that uses quantitative neuroimaging technology that can measure brain activity in real time using a wearable helmet during psychedelic treatments.

Kernel Flow uses pulsed light instead of continuous wave light to increase measured brain information. In contrast with electroencephalography (“EEG”) electrodes that usually require gel on the head or functional magnetic resonance imaging (“fMRI”) studies that require a participant to lie in a scanner, the Flow device is an easily wearable helmet that could in the future be more broadly used for neuroscientific or physiological studies of brain activity during psychedelic use. To date, direct neuroimaging research of psychedelic effects, in vivo, has rarely been attempted, and never with a wearable device.

"We still have much to learn about what is occurring in the brain during a psychedelic experience. This first-of-its-kind, Cybin-sponsored study, using the Kernel Flow device, aims to expand our physiological understanding of psychedelic pharmacotherapy. We are excited to be part of this pioneering journey with our partners at Kernel," stated Doug Drysdale, Chief Executive Officer of Cybin.

“Psychedelics have shown great promise for mental health and wellness, and Kernel’s collaboration with Cybin has the promise of offering increased scientific rigor for their development,” stated Bryan Johnson, Founder & Chief Executive Officer of Kernel.

About Cybin

Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.

Cautionary Notes and Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding enhanced liquidity, the value of additional capital markets exposure, access to institutional and retail investors, the Company’s new strategic brand messaging campaign, and psychedelic drug development programs to potentially treat mental health disorders. There are numerous risks and uncertainties that could cause actual results and Cybin’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

Cybin makes no medical, treatment or health benefit claims about Cybin’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceutical products. The efficacy of such products have not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin’s performance and operations.

The NEO Exchange has neither approved nor disapproved the contents of this news release and is not responsible for the adequacy and accuracy of the contents herein.

Investor Contacts:
Tim Regan/Scott Eckstein
KCSA Strategic Communications
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Lisa M. Wilson
In-Site Communications, Inc.
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Media Contacts:
John Kanakis
Cybin Inc.
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