After a challenging year, the ADS industry’s trend toward consolidation continues, with both small startups and large well-funded companies giving up on going it alone

BOULDER, Colo.--(BUSINESS WIRE)--#ArgoAI--A new Leaderboard report from Guidehouse Insights examines the strategy and execution of 15 companies developing automated driving systems (ADSs), with Waymo, Nvidia, Argo AI, and Baidu ranked as the leading market players.

For the ADS industry, 2020 proved to be just as challenging as it was for most business segments thanks to the COVID-19 pandemic. Lockdowns caused disruptions to on-road testing that in many cases lasted several months. However, 2020 also helped to highlight business opportunities, particularly around the delivery market for automated vehicles (AVs). According to a new Leaderboard report from Guidehouse Insights, Waymo, Nvidia, Argo AI, and Baidu are the leading companies developing automated driving systems.

“These leaders are already considered advanced in terms of the development of ADS technology and have also accumulated some years of experience in testing and prototype deployment,” says Sam Abuelsamid, principal research analyst with Guidehouse Insights. “They have also supplemented their technological capabilities with prominent plans to deploy automation for transportation as a service either in house or with partners.”

Last year, the industry’s trend toward consolidation continued, with both small startups and large well-funded companies giving up on going it alone. Uber decided to cease its internal development of ADSs, selling its Advanced Technology Group to Aurora, and Zoox sold itself to Amazon. Volkswagen completed its investment in Argo AI and transferred its ADS team to Argo, while Aptiv and Hyundai Motor Group created their Motional joint venture. Volvo and Fiat Chrysler both teamed up with Waymo to use the ADS developed by the Alphabet subsidiary. At the opposite end of the market, Voyage was acquired by Cruise and its unique model of providing mobility services to retirement communities is being shelved.

The report, Guidehouse Insights Leaderboard: Automated Driving Systems, report differs from prior rankings for AVs. Rather than focusing on the companies that will be deploying AVs to the end consumer market, this report evaluates the companies actually developing the ADSs. All of the companies included are developing systems for light to medium duty vehicles, and that is the primary focus of the evaluation. A total of 15 companies have been ranked, and the report assesses which companies are best equipped to be the leaders in the development of ADSs. 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, Guidehouse Insights Leaderboard: Automated Driving Systems, 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.

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SCHENECTADY, N.Y.--(BUSINESS WIRE)--Distributed Solar Development (DSD) announced today the closing of $85 million in tax equity financing from Bank of America to support its expanding pipeline of distributed generation solar projects in the commercial and industrial (C&I) market through 2021, with a sizeable portion going toward New York State Energy Development and Research Authority Value of Distributed Energy Resources (VDER) assets.

This is the third major financing deal DSD has closed this year. DSD previously announced a two-year, $300 million debt facility financed by Credit Suisse in January and a two-year, $150 million construction revolver with Rabobank in March, both of which will support DSD’s expanding pipeline of distributed generation solar projects in the C&I market.

“Our tax equity financing with Bank of America nicely complements the Credit Suisse and Rabobank financing deals closed earlier this year, and once again validates DSD’s evolution as an industry hub for the C&I market,” says DSD CEO Erik Schiemann. “We look forward to further developing our industry-leading renewable energy solutions.”

As part of Bank of America’s Environmental Business Initiative the company has deployed $200 billion since 2007 to low-carbon, sustainable business activities and recently committed $1 trillion in financing by 2030 to these efforts. Its renewable energy tax equity portfolio was approximately $10.1 billion at the end of 2020 and these investments have contributed to the development of approximately 17% (33GW) of the total installed renewable wind and solar energy capacity in the U.S.

Last November, BlackRock Real Assets completed its acquisition of the remaining 20 percent stake in DSD from GE Renewable Energy. That followed BlackRock’s initial investment in July 2019 for an 80 percent stake in DSD.

“These recent financing deals are a testament to DSD’s continued growth and position as a leading C&I operator,” says Martin Torres, Head of the Americas for the Renewable Power Group at BlackRock. “DSD’s end-to-end capabilities for developing and operating commercial, industrial and municipal solar in the U.S. gives our investors exposure to a market that’s poised to help drive the energy transition forward.”

About Distributed Solar Development

Distributed Solar Development (DSD) is transforming the way organizations harness clean energy. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD creates significant value for our commercial, industrial and municipal customers and partners. Backed by world-leading financial partners like BlackRock Real Assets and rooted in our founding at GE with a 120+ year legacy of innovation, our solar energy team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own and maintain. To learn more about our industry-leading solar energy solutions, visit dsdrenewables.com and be sure to connect with us on LinkedIn and Twitter.

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• Q1 Revenue of $1.49 million exceeds total fiscal year 2020 revenue
• Net income of $2.91 million and Adjusted Net Loss of $0.99 million excluding one-time acquisition-related charges and net warrant valuation adjustment
• Company holds cash reserves of $124.97 million
• Strong market interest reflected in high level of commercial activity

BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”) today announced consolidated financial results for the three months ended March 31, 2021. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with U.S. generally accepted accounting principles (GAAP).

Q1 2021 Financial Highlights

(all comparisons are to Q1 2020 unless otherwise noted)

• Total revenue was $1.49 million, a year-over-year increase of $1.39 million, the result of increased demand for our products across the board. Total Revenue for Q1 2021 exceeded the Total Revenue for all of Fiscal Year 2020, due to:
  • Increased demand for HT-PEM based fuel cell materials;
  • Increased demand for redox flow battery components;
  • Increased shipments of our IoT sensors; and
  • Addition of Advent’s UltraCell business solid revenue contribution.
• Gross Profit of $1.14 million, a year-over-year increase of $1.11 million primarily due to higher revenues and a favorable business mix.
• Operating costs of $8.14 million, a year-over-year increase of $7.79 million, due to One-Time Transaction Related Expenses as well as increased staffing, and public company costs.
• Net income and adjusted net loss were $2.91 million and ($0.99) million. Adjusted net loss excludes the impact from the change in the fair value of outstanding warrants as well as the one-time transaction-related expenses.
• Net income per share was $0.08.
• Cash reserves were $124.97 million on March 31, 2021, an increase of $124.45 million from December 31, 2020 driven by net $140.17 million of cash raised in the quarter from our business combination, including the $65.0 million PIPE, with AMCI that was consummated on February 4, 2021.

“Following our successful business combination with AMCI Acquisition Corp. and the subsequent acquisition of UltraCell LLC, we saw strong demand for our products from existing and new customers,” said Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies. “The substantial increase in revenue in the quarter demonstrates a surge of market interest in high-temperature proton exchange membrane (HT-PEM) based products. We are confident that many of our customers are on a fast growth trajectory, and we are working closely with them to provide MEAs and fuel cell technology systems to serve their needs.”

Q1 2021 Financial Summary

For a more detailed discussion of Advent’s first quarter 2021 results, please see the company’s financial statements and management’s discussion & analysis, which are available at ir.advent.energy.

The financial results include non-GAAP financial measures. These non-GAAP measures are more fully described and are reconciled from the respective measures determined under GAAP in “Presentation of Non-GAAP Financial Measures” and the attached appendix tables.

Q1 2021 Business Updates:

Key recent product development highlights include:

• Scale-up and commercialization of the U.S. Department of Energy (DoE) next-generation MEA technology.
• Development of proprietary fuel cell stack technology for mobility applications, leveraging the know-how of UltraCell lightweight stacks.
• Production automation of MEA and fuel cell stack production.
• Development of materials for low-capex AEM electrolyzers and redox flow-batteries.

Dr. Gregoriou added, “We continue to find new use cases for our technology and becoming a public company with access to the financial markets has allowed us to accelerate this process. We are seeing strong demand for our products coming from all of our addressable markets.”

Order highlights include:

• Orders for MEAs (Membrane Electrode Assemblies, what we label “the heart of the fuel-cell”), from fuel cell developers in the markets of mobility and stationary applications in Asia.
• Orders for prototype fuel cell stacks from Europe, where we are witnessing a strong increase of major hydrogen projects across the European Union.
• Orders for redox flow battery materials that exceed significantly last year’s activity.
• Revenue from engineering fees in the area of electrochemical sensor development, where we are working closely with IoT companies to commercialize the technology.
• Orders for UltraCell defense-related systems.

Dr. Gregoriou continued, “Following our business combination on February 4, 2021, our team hit the ground running and the momentum continues. We expect to see both revenues and bookings increase as we move through the rest of 2021. In addition, we secured a new headquarters and technology manufacturing space in the highly competitive Boston market, helping us attract top-level talent in order to execute on our business plan.”

Q1 2021 Operating Highlights

• Selection of Advent’s Wearable Fuel Cell for the 2021 Validation Program: On March 31, 2021, Advent announced that UltraCell’s 50 W Reformed Methanol Wearable Fuel Cell Power System (“Honey Badger”) had been selected by the U.S. Department of Defense’s National Defense Center for Energy and Environment (“NDCEE”) to take part in its demonstration/validation program for 2021. The NDCEE is a Department of Defense program that addresses high-priority environmental, safety, occupational health, and energy technological challenges that are demonstrated and validated at active installations for military application. UltraCell’s “Honey Badger 50” fuel cell is the only fuel cell that is part of this program that supports the U.S. Army’s goal of having a technology-enabled force by 2028.

• Collaboration with the DOE: On March 1, 2021, Advent announced that it had entered into a joint development agreement (the “CRADA”) with the United States Department of Energy’s (DOE’s) Los Alamos National Laboratory (LANL), Brookhaven National Laboratory (BNL), and National Renewable Energy Laboratory (NREL). Under this CRADA, along with support from the DOE’s Hydrogen and Fuel Cell Technologies Office (HFTO), Advent’s team of scientists plan to work closely with its LANL, BNL, and NREL counterparts over the coming years to develop breakthrough materials to help strengthen U.S. manufacturing in the fuel cells sector and bring high-temperature proton exchange membrane (HT-PEM) fuel cells to the market.

• Acquisition of UltraCell LLC: On February 18, 2021, Advent acquired UltraCell LLC, the fuel cell business of Bren-Tronics, Inc. for $4.0 million and a maximum of $2.0 million upon the achievement of certain milestones. Those milestones were met and the additional $2.0 million was paid on April 16, 2021. This transaction was critical because it brings a full stack and systems business to Advent’s product portfolio. UltraCell is a leader in lightweight fuel cells for the portable power market with mature products and cutting-edge technology.

• New HQ and technology center in Boston, MA: On February 5, 2021, Advent leased 6,041 square feet of premier office space at 200 Clarendon Street in Boston, MA. This iconic building is in the heart of Boston and provides Advent with ample room to house its executive, technology, and administrative teams. On March 8, 2021, Advent also secured a new eight-year lease for 21,401 square feet in the heart of Boston’s technology and R&D community at Hood Park in Charlestown, MA as its technologies facility to accelerate product development on recent next-generation membrane electrode assembly (MEA) initiatives, including high-temperature polymer electrolyte membrane (HT-PEM) fuel cell technology for the automotive industry.

Dr. Gregoriou concluded, “I am confident the future for Advent Technologies has never been brighter. Our fuel-cell technology, allowing the use of multiple fuels, is an ideally suited solution for the defense and off-grid markets. We believe the “Any Fuel. Anywhere” products give us a clear advantage in a market for which very few companies compete and where hydrogen in its compressed gas form required by the low-temperature PEM competitors is not an economical option. In the mobility market, and particularly in the heavy-duty truck and aviation areas, we have strong validation that the high-temperature PEM technology is well-designed for achieving the total cost of ownership goals of our customers. Furthermore, we have recently seen increased interest in large-scale combined heat and power projects, where the heat produced by our PEM products is something that low-temp products cannot provide. Given that our value-add is in the MEA and fuel cell stack technology rather than in the end-system and application area, we plan to can address all these markets with the same MEA technology rather than completely independent efforts, which would prove very expensive. New policy goals across the developed and developing world are only accelerating this trend, and Advent is well positioned to take advantage of these dynamics.”

Conference Call

The Company will host a conference call on Thursday, May 20, 2021, at 9:00 AM ET to discuss its results.

To access the call please dial (866) 498-0631 from the United States, or (873) 415-0202 from outside the U.S. The conference call I.D. number is 2763459. Participants should dial in 5 to 10 minutes before the scheduled time.

A replay of the call can also be accessed via phone through June 3, 2021 by dialing (800) 585-8367 from the U.S., or (416) 621-4642 from outside the U.S. The conference I.D. number is 2763459.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles critical components for fuel cells and advanced energy systems in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in the San Francisco Bay Area and Europe. With 120-plus patents (issued and pending) for its fuel cell technology, Advent holds the IP for next-gen high-temperature proton exchange membranes (HT-PEM) that enable various fuels to function at high temperatures under extreme conditions – offering a flexible ‘Any Fuel. Anywhere’ option for the automotive, maritime, aviation, and power generation sectors. www.advent.energy

Important Cautions Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including the Company’s plans and expectations with respect to its operating and financial performance for the remainder of 2021, the increased demand for its MEAs and fuel cell technology, the continued development of its next-generation HT-PEM technology alongside the Department of Energy, the advancement of potential breakthrough materials for the HT-PEM market, and the opening of its new manufacturing facility and headquarters in Boston. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to realize the benefits from the business combination; the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading "Risk Factors" in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 26, 2021, as amended on May 19, 2021 as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Presentation of Non-GAAP Financial Measures

In addition to the results provided in accordance with U.S. generally accepted accounting principles (“GAAP”) throughout this press release, the Company has provided non-GAAP financial measures— Adjusted Net Income /(Loss),EBITDA and Adjusted EBITDA —which present results on a basis adjusted for certain items. The Company uses these non-GAAP financial measures for business planning purposes and in measuring its performance relative to that of its competitors. The Company believes that these non-GAAP financial measures are useful financial metrics to assess its operating performance from period-to-period by excluding certain items that the Company believes are not representative of its core business. These non-GAAP financial measures are not intended to replace, and should not be considered superior to, the presentation of the Company’s financial results in accordance with GAAP. The use of the terms Adjusted Net Income / (Loss), EBITDA and Adjusted EBITDA may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures. These measures are reconciled from the respective measures under GAAP in the appendix below.

Supplemental Non-GAAP Measures and Reconciliations

In addition to providing measures prepared in accordance with GAAP, we present certain supplemental non-GAAP measures. These measures are EBITDA, Adjusted EBITDA and Adjusted Net Income / (Loss), which we use to evaluate our operating performance, for business planning purposes and to measure our performance relative to that of our peers. These non-GAAP measures do not have any standardized meaning prescribed by GAAP and therefore may differ from to similar measures presented by other companies and may not be comparable to other similarly titled measures. We believe these measures are useful in evaluating the operating performance of the Company’s ongoing business. These measures should be considered in addition to, and not as a substitute for net income, operating expense and income, cash flows and other measures of financial performance and liquidity reported in accordance with GAAP. The calculation of these non-GAAP measures has been made on a consistent basis for all periods presented.

EBITDA and Adjusted EBITDA

These supplemental non-GAAP measures are provided to assist readers in determining our operating performance. We believe this measure is useful in assessing performance and highlighting trends on an overall basis. We also believe EBITDA and Adjusted EBITDA are frequently used by securities analysts and investors when comparing our results with those of other companies. EBITDA differs from the most comparable GAAP measure, net income / (loss), primarily because it does not include income taxes, depreciation of property, plant and equipment, and amortization of intangible assets. Adjusted EBITDA adjusts EBITDA for transactional gains and losses, asset impairment charges, finance and other income and acquisition costs.

The following tables show a reconciliation of net income/(loss) to EBITDA and Adjusted EBITDA for the three months ended March 31, 2021 and 2020.

(1) Bonus awarded after consummation of the business combination effective February 4, 2021.

Adjusted Net Income/(Loss)

This supplemental non-GAAP measure is provided to assist readers in determining our financial performance. We believe this measure is useful in assessing our actual performance by adjusting our results from continuing operations for changes in warrant liability and one-time transaction costs. Adjusted Net Loss differs from the most comparable GAAP measure, net income / (loss), primarily because it does not include one-time transaction costs and warrant liability changes. The following table shows a reconciliation of net income/(loss) for the three months ended March 31, 2021 and 2020.

Adjuste

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AWS’s secure global infrastructure expands access to DELFI Petrotechnical Suite for more customers

LONDON--(BUSINESS WIRE)--Schlumberger announced today a collaboration with Amazon Web Services (AWS) to deploy domain centric digital solutions, enabled by the DELFI* cognitive E&P environment, on the cloud with AWS. This collaboration will bring AWS customers to the DELFI Petrotechnical Suite, which provides access to AI-enhanced applications from Schlumberger and high-performance computing from AWS’s secure, extensive, and reliable global infrastructure.

“Our partnership with AWS complements our strategy to further expand access to the DELFI environment so that more customers can benefit from their subsurface data,” said Rajeev Sonthalia, president, Digital & Integration, Schlumberger. “By increasing access to digital solutions enabled by DELFI, our collaboration with AWS further unlocks opportunities for customers to continuously improve their productivity and performance.”

The collaboration enables more customers to use advanced digital solutions in the DELFI Petrotechnical Suite to draw deep insights from a large pool of data sources and apply those insights across their workflows for faster and better decision making.

“With AWS, Schlumberger can leverage the most comprehensive set of cloud services in the world, including AI and machine learning services that easily integrate with customer applications,” said Matt Garman senior vice president of sales & marketing at AWS. “Schlumberger’s cloud-based solutions paired with the high performance, scalability and security of AWS cloud, increase efficiencies so customers have more freedom to innovate—and this is just the beginning. By combining our expertise, we have the potential to accelerate innovation across the entire energy sector including new energies.”

By deploying digital solutions enabled by the DELFI environment and running on AWS, customers can run complex models, computer simulations, and analyses in a fraction of the time compared to traditional computing solutions.

For more information about the DELFI Petrotechnical Suite, click here.

About Schlumberger

Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.

Find out more at www.slb.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “believe,” “plan,” “can,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “likely,” “goal,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, digital technologies. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from digital strategies, initiatives or partnerships; and other risks and uncertainties detailed in our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. Statements in this press release are made as of the date of this release, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise.

*Mark of Schlumberger

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Program’s eighth cohort will receive world-class research support and non-dilutive funding to develop and validate technologies to make residential housing more affordable

DENVER--(BUSINESS WIRE)--The Wells Fargo Innovation Incubator (IN²), a technology incubator and platform funded by the Wells Fargo Foundation and co-administered by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), today announced that its eighth cohort consists of five startups that share a focus on technologies that help make housing both more affordable and more sustainable.

The selected companies will receive up to $250,000 in non-dilutive funding from Wells Fargo and will conduct research and development activities at NREL’s state-of-the-art research facilities in Golden, Colorado. NREL researchers will help the startups develop, model, characterize and verify their technologies in one of more than fifty NREL labs and user facilities. They will also join a cleantech ecosystem that includes industry experts, investors, technology bankers, demonstration partners, and a nationwide Channel Partner network of more than 60 cleantech and agtech business incubators, accelerators, and university programs.

The eighth IN² cohort includes community- and district-level planning technologies, design-planning tools and energy-efficiency technologies. Originally nominated by program Channel Partners, the companies underwent in-depth review by Wells Fargo, NREL and IN²’s expert industry advisory board. The selected startups are:

• NeoCharge – San Luis Obispo, CA – Building an integrated software platform that will synchronize charging of electric vehicles and appliances for cleaner and more affordable charging.
• Darcy Solutions – Excelsior, MN – Using groundwater-sourced heating and cooling systems to eliminate emissions, improve energy efficiency and reduce HVAC costs in buildings.
• Radiator Labs – Brooklyn, NY – Designing an insulated smart thermostatic cover system for home-heating radiators to enable homeowners and tenants to control temperature via a software application, while improving functionality and reducing energy costs and emissions.
• Pivot Energy Services – New York City, NY – Lowering energy costs for renters and homeowners through a software platform that captures specific and precise energy-performance data for buildings.
• Stash Energy – Fredericton, NB – Developing a ductless heat pump with built-in thermal energy storage and a thermostat that allows electric utilities to balance heating and air-conditioning demand to lower costs.

“We need to accelerate technology innovation and invest in new ideas to avoid the worst impacts of climate change,” said Jenny Flores, head of Small Business Growth philanthropy at Wells Fargo. “IN² is uniquely positioned to identify start-ups and promising companies that can tackle complex societal and environmental challenges. The energy efficiency solutions from the newest group to join the incubator can have an enduring impact on today’s homes, the environment and future residential housing.”

“Millions of households, especially low-income households, spend an outsized percentage of their monthly income on energy bills,” said Trish Cozart, IN² program manager at NREL. “IN² companies are addressing this problem through innovative energy efficiency solutions.”

With the addition of these five companies, IN²’s total portfolio now includes 51 startups. Since joining the IN² program, portfolio companies have raised $568 million in external follow-on funding — equivalent to an average of more than $46 for every $1 awarded by IN².

About the Wells Fargo Innovation Incubator (IN²)

The Wells Fargo Innovation Incubator (IN²) is a $50 million technology incubator and platform funded by the Wells Fargo Foundation. Co-administered by and housed at the National Renewable Energy Laboratory (NREL) in Golden, Colorado, IN²’s mission is to speed the path to market for early-stage, clean-technology entrepreneurs. Launched in 2014 with an initial focus on supporting scalable solutions to reduce the energy impact of commercial buildings, IN² has since expanded its focus to advance technologies that address the sustainable production of agriculture and housing affordability. For more information, visit in2ecosystem.com.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.98 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 31 countries and territories to support customers who conduct business in the global economy. With approximately 263,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories. Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.

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PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation (NYSE: AA) today announced a development project with the potential to significantly reduce carbon emissions in the alumina refining process, which would further enhance the Company’s strong sustainability performance across the aluminum value chain.

The Australian Renewable Energy Agency (ARENA) has granted to Alcoa of Australia $8.8 million (A$11.3 million) to test the potential use of renewable energy in a process known as Mechanical Vapor Recompression (MVR). Alcoa of Australia is currently conducting technical and commercial studies to adapt MVR technology to refining. Electricity sourced from renewable energy would power compressors to turn waste vapor into steam, which would then be used to provide refinery process heat.

If the feasibility studies are successful, Alcoa of Australia plans to install, by the end of 2023 a three megawatt MVR module with renewable energy at the Wagerup refinery in Western Australia to test the technology at scale.

“Already, Alcoa is the world’s lowest carbon intensity alumina producer, and the application of MVR, if proven successful, would be an important step forward in further reducing greenhouse gas emissions,” said Eugenio Azevedo, Alcoa’s Vice President for Continuous Improvement. “Using lower carbon alumina in the smelting process will reduce the overall carbon footprint of the metal, too, when considering the indirect and direct emissions across bauxite mining, alumina refining and aluminum smelting and casting.”

The MVR technology powered by renewable energy could reduce an alumina refinery’s carbon footprint by 70 percent. The technology also has the potential to significantly reduce water use in the refining process by capturing water vapor that would otherwise be lost to the atmosphere.

Alcoa of Australia has filed provisional patent applications in Australia for the use of MVR technology in the alumina refining process. The patent applications cover a variety of MVR applications in retrofit and greenfield scenarios in refining.

The development project aligns with Alcoa’s strategic priority to “Advance Sustainably.” Today, Alcoa’s global refining system has the industry’s lowest average carbon intensity, and Alcoa is the only company providing a low-carbon alumina brand, EcoSource^TM. Marketed as part of the Company’s Sustana^TM line of products, EcoSource has no more than 0.6 metric tons of carbon dioxide equivalents for every ton of smelter-grade alumina produced, which is better than 90 percent of the industry.

About Alcoa

Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina and aluminum products, with a strong portfolio of value-added cast and rolled products and substantial energy assets. Alcoa is built on a foundation of strong values and operating excellence dating back 135 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since inventing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability and stronger communities wherever we operate. Visit us online on www.alcoa.com, follow @Alcoa on Twitter and on Facebook at www.facebook.com/Alcoa.

About Alcoa of Australia

Alcoa of Australia is owned by Alcoa World Alumina and Chemicals (AWAC), an unincorporated global joint venture between Alcoa Corporation and Alumina Limited that consists of a number of affiliated entities that own, operate or have an interest in bauxite mines and alumina refineries, as well as an aluminum smelter, in seven countries. Alcoa Corporation owns 60 percent of AWAC with Alumina Limited owning 40 percent.

Dissemination of Company Information

Alcoa Corporation intends to make future announcements regarding company developments and financial performance through its website at www.alcoa.com, as well as through press releases, filings with the Securities and Exchange Commission, conference calls and webcasts.

Forward-Looking Statements

This news release contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “outlook,” “plans,” “projects,” “seeks,” “sees,” “should,” “targets,” “will,” “would,” or other words of similar meaning. All statements by Alcoa Corporation that reflect expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and changes in circumstances that are difficult to predict. Although Alcoa Corporation believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Alcoa Corporation’s filings with the Securities and Exchange Commission. Alcoa Corporation disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law.

###

Investor Contact
James Dwyer
412-992-5450
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Media Contacts
Jim Beck
412-315-2909
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Jodie Read
Alcoa of Australia
0404-800-335
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Coatue and Breakthrough Energy Ventures join existing investors to drive software innovation at intersection of utility and automotive sectors

SAN FRANCISCO--(BUSINESS WIRE)--WeaveGrid, a developer of software solutions for the scalable deployment of electric vehicles (EVs) on the electric grid, today announced $15M in Series A fundraising to enable its next stage of growth. The round was led by Coatue with participation by Breakthrough Energy Ventures and existing investors The Westly Group, Grok Ventures, and several prominent angel investors including Ramez Naam and Josh Felser.

Automaker and government commitments are driving a radical transformation that will soon see millions of new EVs charging across the United States. Electric utilities are in a leading position to benefit from accelerating EV adoption, but face risks as EV charging puts a tremendous new load on the grid. While automakers are increasingly bringing vehicles online, they do not have the infrastructure to interface with electric utilities.

“WeaveGrid’s enterprise software solutions serve as the interface between these two evolving industries, enabling both to benefit from the EV transition and - most critically - to offer a seamless and delightful experience for drivers abandoning gas stations as a relic of the past,” said Divesh Gupta, Director of Strategy for Baltimore Gas & Electric, an early WeaveGrid customer.

Founded by experienced Stanford entrepreneurs, WeaveGrid has excelled by hiring top tier talent from utilities, tech companies, and auto OEMs, with a shared passion for solving the climate challenge via software and data science. WeaveGrid’s charging solutions are now deployed by some of the biggest utilities in the U.S. to lower grid infrastructure costs, integrate more renewables, and save drivers money.

“We are at an inflection point in the public discourse about decarbonization, infrastructure investment, grid reliability, and the transformative nature of EVs,” said WeaveGrid CEO Apoorv Bhargava. “We choose to operate at the intersection of these major, confounding challenges, and are thrilled to work with investors who have validated our vision for software- and analytics-driven solutions to these big, hairy problems.”

Coatue, an investor in EV companies like Tesla and Rivian, sees WeaveGrid’s potential to accelerate EV adoption. “We are excited to partner with WeaveGrid and support Apoorv, John, and their team. WeaveGrid is bridging the tech, mobility, and energy worlds through a software platform that transforms EVs into energy assets. WeaveGrid’s approach could revolutionize the role of EVs in the home,” said Coatue’s Jaimin Rangwalla, who has joined WeaveGrid’s Board of Directors.

“As more drivers find themselves behind the wheels of electric vehicles, it’s going to be critical that utilities are prepared for the increased demand on the grid,” said Carmichael Roberts of Breakthrough Energy Ventures. “By optimizing EV charging, WeaveGrid’s innovative software solution will enable utilities to more efficiently meet demand, reducing the need for additional power generation. It’s a great example of using a smart software technology to solve a capital-intensive infrastructure problem and is exactly the type of innovation we will need to unlock the full potential of EVs and reduce global emissions.”

“We couldn’t be more excited to support WeaveGrid’s mission to accelerate decarbonization of the global transportation industry,” said Danny Cotter, Partner at The Westly Group. “Every automotive manufacturer is moving all-electric. Energy utilities need a way to support this transition without significant impact to their infrastructure, and WeaveGrid’s platform meets that need. We have looked at almost every early-stage company in this sector and WeaveGrid is unique in its software-first solution.”

Mike Cannon-Brookes, co-founder and co-CEO of software giant Atlassian, invested in WeaveGrid via his VC fund Grok Ventures, noting that “WeaveGrid’s software-based EV charging solution helps utilities ensure that consumers can continue to purchase and charge EVs pain free and at low cost. The team has combined their deep understanding of energy markets, utilities and data science to bring us a big step closer to decarbonising the grid and transportation.”

About WeaveGrid

WeaveGrid, a 2021 Global Cleantech 100 company, offers vehicle-grid integration (VGI) smart charging solutions that enable utilities to both provide valuable services to their electric vehicle (EV) customers and support the resiliency of the broader grid.

About Coatue

Coatue is one of the largest technology investment platforms in the world with more than $35 billion in assets under management. Our dedicated team of engineers and data scientists work closely with investment professionals to add value to founders and executive teams in our portfolio. With venture, growth and public funds, we back entrepreneurs from around the globe and at every stage of growth. Some of our private investments have included Airtable, Ant Financial, Anaplan, ByteDance, Chime, Databricks, DoorDash, Instacart, Meituan, Snap, Snowflake and Spotify.

About Breakthrough Energy Ventures

Backed by many of the world’s top business leaders, Breakthrough Energy Ventures (BEV) invests in cutting-edge companies that will lead the world to net-zero emissions. BEV has more than $2 billion in committed capital to support bold entrepreneurs building companies that can significantly reduce emissions from agriculture, buildings, electricity, manufacturing, and transportation. BEV’s strategy links government-funded research and patient, risk-tolerant capital to bring transformative clean energy innovations to market as quickly as possible. The first fund was created in 2016 as part of the Breakthrough Energy network of initiatives and entities, which include investment funds, non-profit and philanthropic programs, and policy efforts linked by a shared commitment to scale the technologies needed to address climate change and achieve a path to net zero emissions by 2050. Visit https://www.breakthroughenergy.org/ to learn more.

About The Westly Group

The Westly Group invests in smart energy and mobility and has 15 of the world’s larger energy and auto companies as investors. The firm has over $500M AUM and has had 6 companies go public including Tesla Motors and Luminar.

About Grok Ventures

Grok Ventures is the private investment office of Mike and Annie Cannon-Brookes. Grok is based in Sydney, Australia, and backs world class teams solving big problems to shape a better future. It provides long-term focused, patient capital to fast growing technology enabled businesses.

Yakov Berenshteyn
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TORONTO--(BUSINESS WIRE)--Chemtrade Logistics Income Fund (TSX: CHE.UN) today announced that it has declared a cash distribution of $0.05 per unit for the month of May 2021 payable on June 25, 2021 to unitholders of record at the close of business on May 31, 2021.

Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund.

For further information:
Rohit Bhardwaj
Vice President, Finance & CFO
Tel: (416) 496-4177

Ryan Paull
Business Development Manager
Tel: (973) 515-1831

LOS ANGELES--(BUSINESS WIRE)--The U.S. Secretary of Transportation recently announced that $1 billion will be available through the competitive Rebuilding American Infrastructure with Sustainability and Equity (RAISE) program. BYD stands ready to assist with application information.

RAISE, formerly known as BUILD and TIGER, now includes funding opportunities for projects addressing climate change, including energy storage solutions, electric buses and trucks, and the planning and construction of electric vehicle charging stations.

BYD can assist in the application process by providing agencies with the cost of battery electric buses and trucks, chargers, charging infrastructure, energy storage solutions, and grid solutions.

With total solutions for green energy generation and storage, BYD is the USA’s industry leader in battery electric buses and trucks with over 600 vehicles at work across America. BYD’s electric buses meet and exceed Buy America standards.

Projects for RAISE funding will be evaluated based on merit criteria that include safety, environmental sustainability, quality of life, economic competitiveness, state of good repair, innovation, and partnership. Within these criteria, the Department will prioritize projects that can demonstrate improvements to racial equity, reduce impacts of climate change and create good-paying jobs.

For information on BYD products and solutions, contact Maria Mendoza, Director of Bids and Grants, at This email address is being protected from spambots. You need JavaScript enabled to view it., or Jason Yan, Director of Sales Operations, at This email address is being protected from spambots. You need JavaScript enabled to view it..

Instructions for submitting RAISE applications can be found at www.transportation.gov/RAISEgrants along with specific instructions for the forms and attachments required for submission. Webinars about the grant program can be found at www.transportation.gov/RAISEgrants/outreach.

The deadline to submit an application is July 12, 2021 at 5p.m. Eastern, 2 p.m. Pacific Time.

ABOUT BYD

The Official Sponsor of Mother Nature™, BYD, the world’s leading electric vehicle company, is dedicated to creating a “total solution.” Globally, BYD has committed to corporate social responsibility, deeply monitoring our supply chain in terms of human rights, environmental safety, hazardous substance control and intellectual property rights. We only select suppliers who share our commitment to just labor practices, human rights standards and the environment.

For more information, please visit https://en.byd.com/ or follow BYD on LinkedIn, Twitter, Facebook and YouTube.

Jim Skeen
Media Relations Specialist
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661-436-0513

AWS’s secure global infrastructure expands access to DELFI Petrotechnical Suite for more customers

LONDON--(BUSINESS WIRE)--Regulatory News:

Schlumberger announced today a collaboration with Amazon Web Services (AWS) to deploy domain centric digital solutions, enabled by the DELFI* cognitive E&P environment, on the cloud with AWS. This collaboration will bring AWS customers to the DELFI Petrotechnical Suite, which provides access to AI-enhanced applications from Schlumberger and high-performance computing from AWS’s secure, extensive, and reliable global infrastructure.

“Our partnership with AWS complements our strategy to further expand access to the DELFI environment so that more customers can benefit from their subsurface data,” said Rajeev Sonthalia, president, Digital & Integration, Schlumberger. “By increasing access to digital solutions enabled by DELFI, our collaboration with AWS further unlocks opportunities for customers to continuously improve their productivity and performance.”

The collaboration enables more customers to use advanced digital solutions in the DELFI Petrotechnical Suite to draw deep insights from a large pool of data sources and apply those insights across their workflows for faster and better decision making.

“With AWS, Schlumberger can leverage the most comprehensive set of cloud services in the world, including AI and machine learning services that easily integrate with customer applications,” said Matt Garman senior vice president of sales & marketing at AWS. “Schlumberger’s cloud-based solutions paired with the high performance, scalability and security of AWS cloud, increase efficiencies so customers have more freedom to innovate—and this is just the beginning. By combining our expertise, we have the potential to accelerate innovation across the entire energy sector including new energies.”

By deploying digital solutions enabled by the DELFI environment and running on AWS, customers can run complex models, computer simulations, and analyses in a fraction of the time compared to traditional computing solutions.

For more information about the DELFI Petrotechnical Suite, click here.

About Schlumberger

Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.

Find out more at www.slb.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “believe,” “plan,” “can,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “likely,” “goal,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, digital technologies. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from digital strategies, initiatives or partnerships; and other risks and uncertainties detailed in our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. Statements in this press release are made as of the date of this release, and Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise.

*Mark of Schlumberger

Media
Giles Powell – Director of Corporate Communication, Schlumberger Limited
Tel: +1 (713) 375-3494
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Amazon.com, Inc.
Media Hotline
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
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SANTA ANA, Calif.--(BUSINESS WIRE)--$ITI #IoT--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that it will participate in the 18th Annual Craig-Hallum Institutional Investor Virtual Conference on Wednesday, June 2, 2021.

Iteris president and CEO Joe Bergera, and CFO Douglas Groves will be hosting virtual meetings with investors throughout the day.

For additional information or to schedule a virtual meeting with Iteris management, please contact your Craig-Hallum representative, or Iteris' investor relations firm, MKR Investor Relations, at This email address is being protected from spambots. You need JavaScript enabled to view it..

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.

Iteris Contact
Douglas Groves
​​​​​​​Senior Vice President and Chief Financial Officer
Tel: (949) 270-9643
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Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
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HOUSTON--(BUSINESS WIRE)--#analytical--Universal Plant Services (UPS) has entered into a Memorandum of Understanding (MoU) with Demerara Group/AGT Energy Group. The MoU states that UPS is to provide maintenance, repair and installation services for rotating, fixed, reciprocating and electrical equipment to support the energy sector. Demerara Group/AGT is engaged to provide services to multinational companies to support all services associated with the upstream sector of Guyana and Suriname both offshore and onshore. Together, the organizations are working to support ExxonMobil’s offshore refining interests in Guyana.

UPS, a Jones Industrial Holdings company, provides world-class integrated specialty services designed to maximize the performance of critical energy assets. As one of North America’s largest comprehensive specialty service providers, UPS provides construction and maintenance, repair, and installation services for rotating, fixed, reciprocating and electrical equipment to the refining, petrochemical, power generation and offshore industries. The company has the proven skills to guide diverse construction projects to successful completion with extensive experience operating in greenfield (new) and brownfield (existing) construction.

“UPS is honored to enter into this agreement with AGT Energy and begin work in Guyana. We understand the importance of Guyana’s oil and gas sector to the growth of the country and its people and recognize the significance this particular refining project will have on both,” said Reagan Busbee, President and Chief Operating Officer of UPS. “We’ve successfully completed projects all over the world, and we’re excited to bring our expertise and passion to this project, as well as to the people of Guyana.”

Darren Debideen, Oil and Gas Consultant for Demerara Contractors and Engineers Limited (DCEL), a subsidiary of Demerara Distillers Limited (DDL), stated, “We’re excited to bring UPS onto the team. They have an extensive track record as a trusted service provider to ExxonMobil, and we’re confident that experience, along with their reputation for training and community involvement, will be beneficial for this project. We’re confident UPS is the right partner who will be dedicated not only to the success of the project, but to Guyana and its people as well,” said Danny Balkissoon, Managing Director of AGT Energy Group Inc.

About Universal Plant Services

Universal Plant Services, a Jones Industrial Holdings company, is one of North America’s largest comprehensive specialty service providers for the energy industry — providing maintenance, repair and installation services for rotating, fixed, reciprocating and electrical equipment. With headquarters in Houston, Texas, UPS employs 3,000 highly trained individuals with 16 full-service facilities that specialize in daily maintenance, turnarounds and capital projects. For more information, please visit universalplant.com.

About AGT Energy Group

AGT Energy Group Inc. Guyana was founded with a joint consortium agreement with the Demerara Group of companies in Guyana under the umbrella of Demerara Contractors and Engineering Limited. AGT Energy strives to become Guyana’s preferred integrated solutions provider of engineering, maintenance, repair, overhaul, sub-sea and project management services. The Demerara Group is a local Guyanese conglomerate with deep industry and investment expertise, providing a differentiated set of capabilities and experiences to their multinational customers in the oil and gas sector of Guyana. For more information, please visit agtenergygroup.com.

Paul Stouffer
Vice President of Corporate Development
Universal Plant Services
+1-832-540-2468

HOUSTON--(BUSINESS WIRE)--Orion Group Holdings, Inc. (NYSE: ORN) (the "Company") a leading specialty construction company, today announced three contract awards for its Concrete segment in each of its key markets, totaling approximately $17 million.

The Company was awarded a contract from Hensel Phelps to provide concrete services for the new Royal Caribbean Cruise Terminal in the Port of Galveston, Texas. The $5.5 million project calls for paving and tilt-wall construction for the facility with work expected to start during the second quarter with completion expected later this year.

The Company was also awarded a $6.5 million project in San Antonio, Texas, that requires the construction of four tilt-wall buildings and associated paving. This work will begin in the third quarter and be completed by the fourth quarter of this year.

In addition, the Company was awarded a $5.1 million contract to construct multiple tilt-wall buildings and perform site paving for a new business park northwest of the Dallas-Fort Worth area. The work under this contract will begin in the third quarter and be completed by the second quarter of 2022.

“These project awards are a direct result of the quality and professionalism our team provides our customers,” said Mark Stauffer, Orion’s President and Chief Executive Officer. “We are also extremely excited for Hensel Phelps providing our team the opportunity to be involved in the new Royal Caribbean Cruise Terminal, as this work represents a great example of cross-selling opportunities between segments for our services.”

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as 'believes', 'expects', 'may', 'will', 'could', 'should', 'seeks', 'approximately', 'intends', 'plans', 'estimates', or 'anticipates', or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statement, express or implied, concerning future operating results or the future generation of or ability to generate revenues, income, net income, profit, EBITDA, EBITDA margin, or cash flow, including to service debt, and including any estimates, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward looking statements also include estimated project start date, anticipated revenues, and contract options which may or may not be awarded in the future. Forward looking statements involve risks, including those associated with the Company's fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints and any potential contract options which may or may not be awarded in the future, and are the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company's plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise.

Please refer to the Company’s Annual Report on Form 10-K, filed on March 2, 2021, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

Orion Group Holdings Inc.
Francis Okoniewski, Vice President Investor Relations
(346) 616-4138
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.oriongroupholdingsinc.com

Robert Tabb, Executive Vice President & CFO
(713) 852-6500
www.oriongroupholdingsinc.com

SAN DIEGO--(BUSINESS WIRE)--#ACRP--XENDEE Corporation, Converge Strategies, Barrett Energy Resources Group, and Principal Investigator RMI have launched a new Airport Microgrid Implementation Toolkit designed to expedite the transition of airports and aerospace facilities to secure on-site Microgrids and distributed energy resources (DERs). The project, which was funded by the Airport Cooperative Research Program, seeks to provide airports with a standardized framework for increasing resilience and avoiding the disruptive impacts of electrical power loss. The toolkit itself is available for free online and leads airport staff through eight guided modules that introduce Microgrid concepts and best practices.

“When one of the world’s busiest airports came to a standstill in 2017 because of a power failure we saw how airport blackouts can cause cascading impacts not just regionally but across the country. This event underscored the importance of understanding the critical functions that would be impacted by electricity disruptions,” said Meredith Pringle, Director at Converge Strategies. “This toolkit seeks to address these concerns, and offers Airport staff an actionable framework for validating how a Microgrid or distributed energy resources could strengthen the energy resilience posture of their airport.”

To access the new toolkit, airport personnel can navigate to the Airport Microgrid Implementation Toolkit website and register for free. This will grant access to download the toolkit as well as a user guide that walks personnel through all eight modules explaining definitions and Microgrid concepts as it progresses. This toolkit also systematically leads airport personnel through the information gathering process, which is meant to organically involve other departments at the airport and to make sure the future needs of the airport are considered and the right maintenance decisions are being made.

“Energy resilience and security are becoming more important with each passing year as temperatures rise and the energy grid continues to age,” said Adib Naslé, CEO of XENDEE. “This toolkit was designed to help make the distributed energy transition process possible for airport facility owner/operators.”

With the energy goals of the airport defined as well as metrics like their critical loads, energy supply, and energy consumption, the toolkit will generate a project validation report. This report includes current and future energy needs, equipment already onsite, and suggestions for how much capacity will be required to meet the facilities’ security and sustainability goals. With this information, projects can easily be submitted to contractors for bids, or airports can engage with the project team directly and utilize their Microgrid design, optimization, training and consulting services directly through the US Government’s GSA catalog.

As more facilities complete the Airport Microgrid Implementation Toolkit, the project team will be updating and adapting their framework based on feedback and real world results. This will allow the framework to remain responsive as it addresses the ever evolving operational needs of modern aerospace facilities.

“The toolkit was developed and enhanced by our workshops and research at the Ithaca-Tompkins and Massport’s Hanscom Airports. However as more facilities move through the process and provide feedback we can add more data points and continue to refine the toolkit to address new technologies and emerging challenges,” said Dr. Michael Stadler, CTO of XENDEE.

A report on this toolkit, as well as its ability to address vulnerabilities in the existing electrical system, has also been published by the Transportation Research Board and is available here.

About XENDEE: XENDEE develops world-class Microgrid decision support software that helps designers and investors optimize and certify the resilience and financial performance of projects with confidence. The XENDEE Microgrid platform enables a broad audience; from business decision makers to scientists, with the objective of supporting investments in Microgrids and maintaining electric power reliability when integrating sources of renewable generation.

About Converge Strategies, LLC: Converge Strategies, LLC is a consulting company focused on the intersection of clean energy, resilience, and national security. We build partnerships with the military, civilians, and all levels of government to accelerate resilience and security in the clean energy transformation. For more information, visit www.convergestrategies.com.

Jay Gadbois | This email address is being protected from spambots. You need JavaScript enabled to view it.
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NEW YORK--(BUSINESS WIRE)--tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today it has signed an agreement with EnergyFunders, an energy projects funding platform, to digitize approximately $25 million of equity interest in EnergyFunders’ Yield Fund I, the company’s largest fund to-date that will invest in oil and gas assets throughout the U.S. This partnership represents EnergyFunders’ first digital security project, with plans to conduct more digital securities offerings in the future. Based in the energy capital of Houston, Texas, EnergyFunders is the first-of-its-kind platform providing direct access to cash flow returns at the wellhead of oil and gas projects, successfully launching nearly 40 oil and gas investment funds since its inception in 2013.

The digital security will use tZERO’s smart contract technology and will be built on the Ethereum Blockchain. EnergyFunders will be launching its Regulation D 506(c) offering this month. The Yield Fund I digital security is expected to become tradeable on the tZERO ATS, subject to legal and regulatory due diligence and securities laws considerations, offering investors secondary liquidity.

tZERO CEO Saum Noursalehi stated, “We are thrilled to partner with EnergyFunders to digitize and trade $25 million of equity interest in its Yield Fund I. Opening access to traditionally illiquid investments like this aligns with our mission, and we look forward to collaborating with EnergyFunders on the digitization and trading of future funds.”

EnergyFunders is the world’s largest online investment marketplace disrupting the energy industry by evolving the way capital investment and energy projects come together to generate more profitable commerce. It is led by experienced securities attorneys and trusted specialists in the oil and gas industry, offering unprecedented access to one of the oldest and most elite asset classes.

EnergyFunders CEO Laura Pommer Fidler shared, “EnergyFunders is democratizing access to energy investments. We strive to compound investor capital at above-market rates, which historically required tying up capital for several years in private market partnerships. tZERO’s revolutionary blockchain-based platform offers a leading regulatory-compliant, continuous, and automated trading environment for private market assets in the U.S. We couldn't be more pleased about this potential opportunity to provide a secondary market for trading our new EnergyFunders Yield Fund I in the same way that you might trade stocks, bonds or ETFs in a regular brokerage account. This will give our investors access to the potential for liquidity in a regulatory-compliant manner.”


About tZERO

tZERO Group, Inc. and its broker-dealer subsidiaries (tZERO) provide an innovative liquidity platform for private companies and assets. We offer institutional-grade solutions for issuers looking to digitize their capital table through blockchain technology, and trade on a regulated alternative trading system. tZERO democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors. For more information on tZERO, please visit https://www.tzero.com/.

tZERO is not a registered broker-dealer, funding portal, underwriter, investment bank, investment adviser or investment manager, and is not providing brokerage, investment banking or underwriting services, recommendations or investment advice to any person, and does not provide any brokerage services. tZERO takes no part in the negotiation or execution of secondary market transactions for the purchase or sale of securities and at no time has possession of investor funds or securities in connection with such transactions.

About tZERO ATS

tZERO ATS, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. More information about tZERO ATS may be found at https://brokercheck.finra.org/. Digital securities that trade on tZERO ATS are conventional uncertificated securities. Ownership of such securities is reflected on the traditional books and records of regulated market participants. The term "digital" refers to the blockchain technology elements of a security that are intended to enhance investor experience through added transparency.

About EnergyFunders

Founded in 2013, EnergyFunders provides access to direct oil and gas investments via its online platform. The platform presents details about all projects and allows smaller investments to spread over more projects to give investors control over their portfolios. Its mission is to give transparent access to drilling investments traditionally reserved for the wealthy or industry insiders.

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Investors should note that trading securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity, which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in single security could mean lack of diversification and, consequently, higher risk. Potential investors are urged to consult a professional adviser regarding any economic, tax, legal or other consequences of trading any securities as described herein.

No Offer, Solicitation, Investment Advice or Recommendations

This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by tZERO or any of its affiliates, subsidiaries, officers, directors or employees. No reference to any specific security constitutes a recommendation to buy, sell, or hold that security or any other security. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this release should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this release, we have not taken into account the investment needs, objectives, and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.

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tZERO
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EnergyFunders
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DUBLIN--(BUSINESS WIRE)--The "Engine Oil Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Global Engine Oil market was valued at around 22,000 Kilotons in 2020 and the market is projected to register a CAGR of greater than 2% during the forecast period (2021-2026).

Companies Mentioned

• Bharat Petroleum Corporation Limited
• BP p.l.c.
• Caltex Australia Group
• Chevron Corporation
• China National Petroleum Corporation
• China Petrochemical Corporation
• Exxon Mobil Corporation
• FUCHS
• Gazpromneft - Lubricants Ltd
• Gulf Oil Lubricants India Ltd
• HPCL
• Idemitsu Kosan Co.,Ltd.
• Indian Oil Corporation Ltd
• ENEOS Corporation
• LUKOIL
• Motul
• Petrobras
• PETRONAS Lubricants International
• Phillips 66 Company
• PT Pertamina Lubricants
• Repsol
• Royal Dutch Shell plc
• SK Lubricants Co. Ltd
• Veedol International Limited
• Total
• Valvoline LLC

Key Market Trends

Automotive and Other Transportation Segment Dominated the Market

• The automotive & other transportation segment was the highest consumer of engine oil. Engine oils are widely used to lubricate internal combustion engines and are composed of 75-90% base oils and 10-25% additives.
• They are typically used for applications, such as wear reduction, corrosion protection, and engine internals' smooth operation. They function by creating a thin film between the moving parts for enhancing heat transfer and reducing tension during the contact of parts.
• High-mileage engine oils are in demand, owing to properties that help in oil leak prevention and reduce oil-burn offs. Most light and heavy vehicle diesel and gasoline engines use 10W40 and 15W40 viscosity grade oils globally.
• Due to the global economic slowdown after 2018, new vehicle car sales have witnessed a growth slowdown. Vehicle sales registered a decline of 13.8%, from 90.423 million in 2019 to 77.97 million in 2020.
• Technological advancements are imposing a threat to engine oils' growth, owing to the increased engine oil change intervals.
• Additionally, the global sales of electric vehicles in 2020 increased by 39% year on year to reach 3.1 million units, where the total passenger car sales declined by 15.9 % from 63.73 million units in 2019 to 53.59 million units in 2020, which is expected to hinder the market growth for engine oil.
• Therefore, the aforementioned factors are expected to impact the engine oil market in the coming years significantly.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific region dominated the global market share. With the increasing investments in the automotive industry in the countries such as Malaysia, India, and Thailand. For instance, the British-brand MG, owned by China's SAIC Motors and developed in collaboration with Thailand's Charoen Pokphand Group, is targeting Thailand with its first-ever pickup truck, the "Extender" which is further likely to stimulate the demand for engine oil in the region during the latter part of the forecast period.
• China is the largest engine oil consumer in the region, as well as globally. However, there is a declining trend in the demand and production of vehicles in the country, and the country is expected to witness a growth slowdown till the mid forecast period due to factors like market saturation and global economic slowdown.
• China is the world's largest automotive producer. However, as of 2020 OICA sales statistics, China had witnessed a decline of 1.9% in sales to reach 25.31 million units in 2020 from 25.79 million units in 2019 due to the COVID-19 pandemic, which in turn negatively impacted the demand for the regional engine oil market.
• Car sales in China jumped 365 percent year-on-year to 1.455 million in February of 2021, the eleventh straight month of increases, as the automobile industry's recovered further from the coronavirus crisis. Considering the first two months of the year, car sales totaled 3.958 million units, up 76.9 percent year-on-year. For 2021, the China Association of Automobile Manufacturers expects car sales to rise by around 4 percent relative to 2020.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Increasing Adoption of High-performance Lubricants

4.1.2 Other Drivers

4.2 Restraints

4.2.1 Extended Drain Intervals

4.2.2 Modest Impact of Electric Vehicles (EVs) in the Future

4.2.3 Impact of COVID-19 Pandemic

4.3 Industry Value-Chain Analysis

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 End-user Industry

5.2 Geography

5.2.1 Asia-Pacific

5.2.2 North America

5.2.3 Europe

5.2.4 South America

5.2.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers & Acquisitions, Joint Ventures, Colaborations and Agreements

6.2 Market Ranking Analysis

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Numerous Upcoming Construction Projects in North America and Asia-Pacific

For more information about this report visit https://www.researchandmarkets.com/r/v0y5nk

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DENVER--(BUSINESS WIRE)--Taproot Energy Partners LLC announced today that its affiliate, Taproot Rockies Midstream LLC (“Taproot”) has been awarded an acreage dedication for crude gathering by Confluence Resources (Confluence) for its Platte River position. The in-service date for the pipeline is expected to be July 1, 2021.

The Confluence acreage dedication brings Taproot’s current dedicated acreage to over 325,000 acres from five producers and continues Taproot’s growth story of system expansion to support premier DJ Basin operators.

“We look forward to providing world-class midstream services and solutions to Confluence as it develops its very attractive, productive DJ Basin acreage position. As our system expands, so does producer access to crude gathering pipelines, eliminating the need for trucking and providing the safest, most environmentally friendly transportation from the wellhead,” said Garrick Brown, Taproot CCO.

“The growth Taproot has accomplished in the DJ Basin since its inception in 2018 has been remarkable. We are excited to continue our record of on-time and under-budget projects as we construct the Confluence pipeline, and providing exceptional midstream service thereafter,” said Kevin Sullivan, Taproot CEO.

For more information, please contact Colin Moe, Taproot VP of Commercial Development, at (303) 749-0365.

About Taproot Energy Partners LLC

Based in Denver, Colorado, Taproot is a midstream company led by an experienced management team with extensive prior success in creating long-term value for its producer customers. Taproot management brings a full suite of skills to partner with producers in providing all necessary midstream services. Capabilities include natural gas gathering, compression, treating and processing, crude oil gathering and transportation, produced water disposal, fresh water supply, condensate treating/blending and natural gas liquids products marketing. Taproot is backed by Energy Spectrum Capital, based in Dallas, Texas.

Visit www.TaprootEP.com for more information.

About Confluence Resources

Founded in September 2016, Confluence Resources is a private oil and gas company headquartered in Denver, Colorado. The management team comprises recognized leaders in the industry with proven track records of creating significant shareholder value over more than three decades across multiple oil and gas resource plays. The team is currently executing on the development of assets in the DJ Basin.

Visit www.confluenceresources.com for more information.

About Energy Spectrum Capital

Founded in 1995, Energy Spectrum Capital is a Dallas-based venture capital firm that makes direct investments in well-managed, lower-middle-market companies that acquire, develop and operate energy infrastructure assets in the United States and Canada. Since inception, the firm has raised more than $4.5 billion of equity capital commitments and has sponsored 65 portfolio companies.

Visit www.EnergySpectrum.com for more information.

Colin Moe
Taproot VP of Commercial Development
(303) 749-0365

ATLANTA--(BUSINESS WIRE)--Green Atom Renewable Energy Corporation has awarded PIC Group the Operation and Maintenance Agreement (O&M Agreement), effective December 2020, for the operation and maintenance of the first utility scale Waste to Energy (WtE) power generation plant in the Philippines located in Barangay Sapang Balen Mabalacat City, Philippines. Under the terms of the O&M Agreement, valued at more than $60 million, PIC Group will provide mobilization, full care and custody operations and maintenance services of the 12MW Waste to Energy Power Plant through 2035.

“Being the first utility scale Waste to Energy plant in Philippines, Green Atom wanted a well-established and experienced Operation and Maintenance company with a proven yet versatile set of O&M Management Systems, Programs and Standards,” said Rex Recarro, President at Green Atom Renewable Energy Corporation. “PIC Group has this along with a successful record of nationalized staffing and knowledge transfer.”

“PIC Group’s O&M services comprise unique, systemic programs for long-term Operation and Maintenance Services of the facilities,” said Frank Avery, President and CEO at PIC Group. “This includes remote monitoring of the plant equipment’s performance on a continuous basis, to ensure that we exceed the owner’s expectations.” PIC Group’s approach to O&M services ensures consistent and reliable operations while enabling Green Atom to achieve the maximum financial and operational goals, to include compliance, performance, and commercial management, while reducing operational risk.

About Green Atom Renewable Energy Corporation

Green Atom Renewable Energy Corporation, a subsidiary of Rublou Inc, was established in February 2015 through the collaboration of incorporators who share the same passion, advocacy and aspiration in the development of Renewable Energy Power Plants in the Philippines and elsewhere in the world.

About PIC Group

Founded in 1988, PIC Group, Inc. is dedicated to delivering value by providing global energy services to facilities across four continents – North America, South America, Asia and Africa. PIC provides O&M Services (Care, Custody and Control), Commissioning and Startup, Documentation & Training and Staffing services and serves the power generation, oil and gas, petrochemical, pulp and paper and manufacturing industries.

PIC Group, Inc. is a wholly owned subsidiary of Marubeni Corporation, a Fortune Global 500 Company. Marubeni is a major Japanese sogo shosha (international trading company) and the third largest global independent power producer (IPP).

(www.picgroupinc.com)

About Marubeni

Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business including consumer products, food, agriculture, chemicals, energy and metals and power business machinery and infrastructure.

For press inquiries, contact:
Douglas Shuda
Marketing Director
678-627-4142
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• Detmar Logistics selects Hyliion to help forge path as early alternative fuel adopter

• Hyliion supporting Detmar’s vision to fully electrify its fleet of over 100 trucks in the next five years

AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, today announced that it has partnered with leading frac sand solutions provider Detmar Logistics LLC. Their first collaboration with a company serving the oil and gas industry, Hyliion will work closely with Detmar as they initiate the electrification of their fleet over the next five years.

“We’re thrilled to be building a lasting relationship with a business that shares our vision of a net-carbon-negative commercial transportation industry,” said Hyliion’s Founder and CEO Thomas Healy. “Detmar is paving the way with their commitment to adopting alternative fuels, and we look forward to continuing to offer the practical solutions they need to help realize their goal of becoming a fully electrified fleet.”

An early adopter of electrification in the oil and gas industry, Detmar owns and operates 127 trucks and hauls over 200 loads of fracking sand per day. The logistics company has placed their initial order of 10 Hyliion Hybrid Electric units, marking the first step on its path to powering 100% of its fleet by low emission solutions.

“Oil and gas will continue to be an important part of the world’s energy future, and it’s imperative that we align with climate efforts to make our operations sustainable for generations to come. Hyliion’s approach to electrification by making improvements to our existing semi-trucks makes the most sense for us. We also see natural gas playing a significant role as an energy source for powering electric vehicles in the years ahead,” said Detmar Logistics President and CEO Matthew Detmar.

Flaring at oil and gas extraction sites is one of the largest greenhouse gas emitting practices in the industry. However, with an increasing focus on environmental, social, and corporate governance (ESG), the infrastructure to convert flare gas into usable CNG continues to grow, allowing what was once a waste product to be turned into usable fuel to power electrified trucks, like Hyliion’s CNG Hybrid and Hypertruck ERX.

“We want to work with our customers to keep American energy moving forward and oil and gas production sustainable. We believe in doing our part in pushing toward reliable, low carbon alternatives and we look forward to achieving that through Hyliion’s Hybrid solution and the Hypertruck ERX in the future,” Detmar added.

These initial Hybrid units are being installed on Detmar’s Volvo trucks at Hyliion’s headquarters in Austin, TX. Hyliion’s Diesel and CNG Hybrid solutions can be installed on most major Class 8 commercial trucks and are designed to improve performance, reduce emissions, lower fuel costs, and enhance the driver experience.

About Hyliion

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

Forward Looking Statements

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

Hyliion Holdings Corp.
Ryann Malone
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(833) 495-4466

Customers May Qualify for Several Different Financial Assistance Programs at Once

Apply or Enroll Now, Don’t Wait for Summer

SAN FRANCISCO--(BUSINESS WIRE)--Customers who have been financially impacted by the COVID-19 pandemic can now find new and updated information and web resources on various programs available to those who are behind on their bills and/or needing financial assistance due to the ongoing pandemic by going to pge.com/covid19.

Pacific Gas and Electric Company’s (PG&E) updated customer support website, launched earlier this month, provides information on all the financial assistance and support programs currently available to qualified customers in one easy to use page.

Get Help with Past Due Bills

The Get Help with Past Due Bills portions of the page points to a variety of financial assistance programs and payment plan arrangement support, including:

• Low-Income Home Energy Assistance Program (LIHEAP) offers up to $1,000 to pay eligible household energy costs.
• Relief for Energy Assistance through Community Help (REACH) Program offers one-time financial assistance to qualified customers with past-due bills.
• Arrearage Management Plan (AMP) offers up to $8,000 in unpaid balance forgiveness, if a customer is enrolled in the California Alternate Rates for Energy Program (CARE) or Family Electric Rate Assistance (FERA) Program (FERA), owes a specific bill amount and are more than 90 days past due.
• Payment Arrangement Plans offers flexible payment plans to spread balance out, up to 12 months or choose an extension allowing full payment later.

Find Ways to Reduce Future Energy Bills

The Find Ways to Reduce Future Energy Bills section links customers to applications for ongoing monthly discounts as part of the CARE and FERA Programs as well as the Energy Savings Assistance Program offering free energy efficiency upgrades to qualified customers.

Get Additional Information

The Get Additional Information portion of the page highlights more ways for customers to access support through PG&E’s Medical Baseline Program as well as various external programs such as the California COVID-19 Rent Relief Act helping income-eligible households pay rent and utilities, both for past due and future payments. Renters and landlords are eligible to apply.

The revamped webpage offers a useful resource for customers as the existing COVID-19 customer protections expire on July 1, 2021. PG&E remains committed to providing support for customers during this transition, and we want our customers to know that we are here to help.

For additional questions, we encourage customers to call 800-743-5000. Financial resources for business customers are available here.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

MEDIA RELATIONS:
415-973-5930