SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) (“Chevron”) and Noble Midstream Partners LP (NASDAQ: NBLX) (“Noble Midstream”) announced today that the companies have completed the previously announced acquisition, which resulted in Noble Midstream becoming an indirect, wholly-owned subsidiary of Chevron.

Effective with the opening of markets today, Noble Midstream’s common units will no longer be listed on the Nasdaq Global Select Market, and it will cease to be a publicly traded company.

“We are pleased to fully integrate Noble Midstream’s people, operations, and unitholders into Chevron,” said Colin Parfitt, Vice President of Chevron Midstream. “By combining our businesses, the acquisition streamlines governance and strengthens our leading positions in the DJ and Permian basins.”

About Chevron

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

As used in this news release, the term “Chevron” and such terms as “the company,” “the corporation,” “our,” “we,” “us” and “its” may refer to Chevron Corporation, one or more of its consolidated subsidiaries, or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs.

Please visit Chevron’s website and Investor Relations page at www.chevron.com and www.chevron.com/investors, LinkedIn: www.linkedin.com/company/chevron, Twitter: @Chevron, Facebook: www.facebook.com/chevron, and Instagram: www.instagram.com/chevron, where Chevron often discloses important information about the company, its business, and its results of operations.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release contains forward-looking statements relating to Chevron’s and Noble Midstream’s operations that are based on their respective management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “forecasts,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, neither Chevron nor Noble Midstream undertake any obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: statements regarding the expected benefits of the transaction to Chevron and its shareholders; changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during extended periods of low prices for crude oil and natural gas during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company's ability to achieve the anticipated benefits from the acquisition of Noble Energy, Inc.; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, industry-specific taxes, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; Chevron’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company's 2020 Annual Report on Form 10-K and in other subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.

Veronica Flores-Paniagua, Chevron, +1 (713) 372-0063
Park Carrere, Noble Midstream, +1 (281) 872-3208

HOUSTON--(BUSINESS WIRE)--Waste Management, Inc. (NYSE: WM) today announced the declaration of a quarterly cash dividend of $0.575 per share payable June 18, 2021 to stockholders of record on June 4, 2021.

ABOUT WASTE MANAGEMENT

Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America, providing services throughout the United States and Canada. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The Company’s customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management, visit www.wm.com.

Analysts & Media
Ed Egl
713.265.1656
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Enstor Welcomes Industry Veteran Peter Abt as Senior Vice President, Origination

HOUSTON--(BUSINESS WIRE)--Enstor Gas, LLC (“Enstor”), an independent natural gas storage operator based in Houston, today announced veteran natural gas executive Peter Abt has joined the company as Senior Vice President, Origination. In this role, Mr. Abt is responsible for the company’s growth through sourcing and securing new business at Enstor’s eight storage facilities, which are strategically located across five states and Alberta, Canada. He is primarily focused on long-term structured transactions to grow Enstor’s firm storage service portfolio. Mr. Abt reports directly to Enstor Chief Executive Officer Paul Bieniawski.

“We are thrilled to have Peter join our executive team,” Mr. Bieniawski said. “Peter is uniquely qualified to advance our growing business. He brings senior business development experience and a deep understanding of our industry.”

“I am excited to join Enstor’s highly accomplished team at this pivotal stage to help continue to define and execute on the company’s vision for scaling the business,” Mr. Abt said.

Mr. Abt has 40 years of experience in the energy industry and has worked on all aspects of the value chain, from the wellbore through to the burner tip. The majority of his career has been focused on midstream infrastructure development, including natural gas pipelines and storage. Prior to joining Enstor, Mr. Abt served as Vice President of Business Development at Trilogy Midstream Holdings. Mr. Abt also served as Vice President Commercial for NorTex Midstream Partners, Managing Director for Black & Veatch and Senior Vice President Origination at Gazprom Marketing & Trading USA. He holds a Master of Business Administration degree from The University of Houston and a Bachelor of Science degree in petroleum engineering from The University of Oklahoma.

About Enstor Gas, LLC

Enstor is one of the largest and most geographically diverse, independent natural gas storage operators in the U.S. The company’s eight storage facilities are strategically located across five states and Alberta, Canada. Enstor’s diversified asset base provides direct connectivity to major pipelines and key supply and demand markets. Enstor is backed by ArcLight Capital Partners, LLC, a leading private equity firm focused on North American energy infrastructure investments. For more information, please visit www.enstorinc.com.

Casey Nikoloric, Managing Principal, TEN|10 Group
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Cable line expands Storm’s comprehensive test & measurement product portfolio.

WOODRIDGE, Ill.--(BUSINESS WIRE)--Teledyne Storm Microwave announces a new cable product line for Vector Network Analyzer (VNA) test leads and other interconnect testing, Storm-Test^™, designed to extend a test lead’s useful life while delivering phase stability, critical in precision manufacturing environments where measurement accuracy must be maintained with repeated use over months and years.

The Storm-Test series of test leads expands Storm’s comprehensive portfolio of cable solutions for test and measurement applications, which includes Accu-Test^®, Duratest™, and True Blue^®. The new Storm-Test 50 GHz expands the frequency and phase stability performance offered by Storm test cables.

“Our testing showed that the new Storm-Test cables lasted significantly longer in real manufacturing test environments than competing products,” said Richard Bahou, Director Sales & Marketing for Teledyne Storm Microwave. “This allows customers to maintain phase stable measurement accuracy while replacing test cables much less frequently, saving money and time.”

The Storm-Test 50 GHz series offers two new differentiating features in the VNA test lead market that increase a test lead’s useful life. First, the new cable bend protection solution optimizes product life while delivering mechanical robustness. Secondly, durability is optimized via the braided FEP jacket which aids abrasion resistance, preventing fraying of the outer jacket. It is designed specifically for demanding applications in test, radar, military and aerospace, and offers an operating temperature range of -55 to +125°C.

An additional benefit of the new cables is their superior resistance to crushing and torque, dramatically demonstrated in a new product video showing a passenger car being driven over an example cable, and the assembly performing flawlessly in subsequent measurements.

The Storm-Test products offer a variety of phase matching and customization options and are available for immediate ordering and delivery.

About Teledyne Storm

Teledyne Storm Microwave has been providing high performance flexible and semi-rigid RF/Microwave cable assemblies to defense and test markets worldwide since 1978. They manufacture flexible and semi-rigid coax cables in house, utilizing state-of-the-art manufacturing equipment. Storm continues today to solve engineers' interconnect problems by combining leading technology with the Storm legacy of responsive, flexible, committed customer service.

About Teledyne Defense Electronics

Serving Defense, Space and Commercial sectors worldwide, Teledyne Defense Electronics offers a comprehensive portfolio of highly engineered solutions that meet your most demanding requirements in the harshest environments. Manufacturing both custom and off-the-shelf product offerings, our diverse product lines meet emerging needs for key applications for avionics, energetics, electronic warfare, missiles, radar, satcom, space, and test and measurement. www.teledynedefelec.com. TDE is a business unit of Teledyne Technologies, Inc., a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. www.teledyne.com.

Sharon Fletcher
Teledyne Defense Electronics
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CINCINNATI--(BUSINESS WIRE)--As part of its commitment to be a leader in sustainability, Fifth Third Bank, National Association, today announces that it has joined the Ceres Company Network. By joining, Fifth Third has become part of a network of 60 companies who commit to achieving robust sustainability goals, improving resiliency in their operations and supply chains, and advancing market-based and equitable solutions to the world’s biggest sustainability challenges.

“Joining the Ceres Company Network is another major step forward in our commitment to lead among regional banks in transitioning to a more sustainable future,” said Fifth Third Chairman and CEO Greg D. Carmichael. “It will be a privilege to work with many of the world’s most sustainable companies as we tackle the problems we face, and, together, work to fully realize the potential we have to positively impact our planet and its people.”

The Ceres Company Network provides members with unique access to Ceres experts and a range of peers and stakeholders, including investors and policymakers, to gain various perspectives and guidance in sustainability at this critical time. Members are given clear insight into best practices for achieving sustainability goals as detailed in the Ceres Roadmap 2030. Ceres released the 10-year action plan last year to help companies tackle the world’s most critical sustainability needs - to stabilize the climate, protect water and natural resources and build a just and inclusive economy—and thrive in the accelerated transition to a just, sustainable, net zero emissions future.

“We are excited to welcome Fifth Third Bank into the Ceres Company Network,” said Mindy Lubber, Ceres CEO and president. “The banking sector has a pivotal role to play in tackling the world’s biggest sustainability challenges and accelerating the transition to a more sustainable future. We look forward to working with Fifth Third as it integrates stronger sustainability practices into the bank’s strategy and its work with clients.”

Joining the Ceres Company Network follows Fifth Third’s achievement of carbon neutrality for its own 2020 operations (Scope 1, Scope 2 and business travel under Scope 3), which made Fifth Third the first bank in its peer group to mark that achievement. It also comes as the Bank has committed to measuring and ultimately reducing emissions in certain client portfolios, aided by its joining of the Partnership for Carbon Accounting Financials.

Fifth Third has announced six bold sustainability goals, including a five-year, $8 billion sustainable finance goal announced in 2020. It has achieved three of its five sustainability goals announced in 2017, including using 100% renewable power, reducing water use by 20% and reducing greenhouse gas emissions by 25%. In addition to these goals, Fifth Third has maintained its A- Climate Leadership Score from CDP in 2020 and established a national renewable energy finance center of excellence in 2018.

Fifth Third aligns its work in environmental sustainability to the United Nations Sustainable Finance Goal No. 13 Climate Action. More information is available in Fifth Third’s 2019 ESG Report. Fifth Third expects to publish its 2020 ESG Report in mid-2021.

About Ceres

Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we inspire action and drive equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews on Twitter.

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of March 31, 2021, Fifth Third had $207 billion in assets and operated 1,098 full-service banking centers and 2,383 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2021, had $464 billion in assets under care, of which it managed $58 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq^® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank, National Association. Member FDIC.

Stacie Haas (Media Relations)
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Mike Faillo (Investor Relations)
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Hundreds of Billions of Dollars in New Federal Infrastructure Spending Could Create New Vulnerabilities

CANTON, Ohio--(BUSINESS WIRE)--More high-profile infrastructure attacks are likely to follow the hack of the Colonial Pipeline and a key part of the problem is weak IT Asset Management of computing devices and software, according to the International Association of IT Asset Managers (IAITAM), the leading authority on IT Asset Management (ITAM).

The now-hacked Colonial Pipeline, stretching from Texas to New England, has been called the “jugular” of the U.S. energy supply line, since it delivers about 45 percent of the fuel used on the East Coast. In recent months, there have been similar attacks on a major dam site, a city water supply, hospitals, municipalities (including police and fire services), and electrical utilities.

IAITAM President and CEO Dr. Barbara Rembiesa said: “The problem here comes down to one central reality: If you are not managing your assets, you’re not managing your business … and you can’t secure what you don’t know you have. Old and new infrastructure projects tend to be big and, as with a pipeline, may cover a huge amount of the country. When most people think about ‘security’ in such cases, they tend to think about the physical, low-tech side of things. But, increasingly, it is the cyber and high-tech side of things that leaves infrastructure projects wide open.

“This country is way behind where it needs to be in ensuring that every single device and piece of software associated with these infrastructure projects is accounted for, secure, and up to date. Old infrastructure is already under attack today because of a lack of rigorous IT Asset Management, and the prospect of the federal government adding billions of dollars to Infrastructure without proper management will only add to the problem and open up more security loopholes. The government ratings on asset management are already low compared to private firms and we see that in GAO reports every year.

“All the people behind these ransomware attacks need is someone running a laptop in an unauthorized fashion on a non-secure network, such as a home Wi-Fi system. They don’t need much more than a central computer system that is running software that has not been properly patched or otherwise updated. And they are delighted to find an employee who is tapping into key systems remotely on a personal cellphone or other device that has not been authorized for such access.

“Until the operators of public water systems, energy pipelines, nuclear power plants, bridges, tunnels, airports, and other key infrastructure elements get serious about thorough and tough-minded IT Asset Management, we are going to see more and more ransomware attacks like the one on the Colonial Pipeline.”

IAITAM has been warning in recent months about a variety of major IT Asset Management lapses exposing U.S. businesses and agencies to serious repercussions. To see how IAITAM played a major leadership role in 2020 in alerting organizations for COVID-19 ITAM issues, see here, here, here, here, and here.

ABOUT IAITAM

The International Association of Information Technology Asset Managers, Inc., is the professional association for individuals and organizations involved in any aspect of IT Asset Management, SAM, Hardware Asset Management, Mobile Asset Management, IT Asset Disposition and the lifecycle processes supporting IT Asset Management in organizations and industry across the globe. IAITAM certifications are the only IT Asset Management certifications that are recognized worldwide. For more information, visit www.iaitam.org.

MEDIA: Max Karlin, 216-225-6765 or This email address is being protected from spambots. You need JavaScript enabled to view it.

BOSTON--(BUSINESS WIRE)--#ESG--Vanguard Renewables’ Farm Powered Strategic Alliance was recognized as a finalist in Fast Company’s 2021 World Changing Ideas Awards in the Established Excellence category. The Farm Powered Strategic Alliance is a pre-competitive collaboration between national food industry leaders to forge a circular decarbonization pathway. Founding members include Unilever, Starbucks, Dairy Farmers of America, and Vanguard Renewables. Fast Company’s World Changing Ideas honors businesses pursuing innovation and alternative approaches to health, climate, economic inequality, and social injustice challenges. The 2021 winners and finalists were selected by Fast Company from more than 4,000 global entries.

“We are thrilled for the Farm Powered Strategic Alliance and Vanguard Renewables to be named as a finalist for Fast Company’s 2021 World Changing Ideas,” says John Hanselman, Founder and CEO of Vanguard Renewables. “The recognition of this pioneering U.S. collaborative movement to establish a circular solution to food waste reduction, repurposing, and decarbonization is a tribute to the Vanguard team along with founding partners Unilever, Starbucks, and Dairy Farmers of America.”

Farm Powered Strategic Alliance (FPSA) members commit to reducing food waste from manufacturing and the supply chain and repurposing any unavoidable waste into renewable energy via farm-based anaerobic digesters. FPSA members also commit to begin the process of decarbonizing thermal energy usage by converting to farm-derived renewable natural gas. It is a call to action for the food industry to embrace a circular solution to solving the food waste challenge and make a meaningful impact on climate change mitigation.

World Changing Ideas is one of Fast Company's annual awards programs focused on highlighting products and concepts that create a positive global impact. The 2021 awards showcase 33 winners, 400 finalists across 34 categories.

About Vanguard Renewables
Vanguard Renewables is the U.S. leader in farm-based organics to renewable energy. The Company is committed to advancing decarbonization by reducing greenhouse gas emissions from farms and food waste and supporting regenerative agriculture best practice on partner farms. Vanguard owns and operates 6 anaerobic digester facilities in the northeast, has 10 under construction or in permitting nationwide, and plans to develop 100 in the top 20 U.S. markets by 2025. Vanguard’s established renewable natural gas offtake agreements with national utilities and its strategic alliance Dairy Farmers of America (DFA), position the Company to significantly impact U.S. production and delivery of renewable natural gas across the country. The Farm Powered Strategic Alliance, founded in 2020 is a pre-competitive movement by food industry leaders to establish a circular decarbonization pathway. Please visit vanguardrenewables.com to learn more.

Kelley Devaney
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(855) 720-2364

Consumer Energy Alliance Releases Report Highlighting Economic Impacts to Midwest and Great Lakes Consumers from Reckless Line 5 Closure

LANSING, Mich.--(BUSINESS WIRE)--#IndianaEnergy--An unnecessary and premature shutdown of the Line 5 pipeline risks at least 33,000 jobs and a minimum of $20.8 billion in economic losses to consumers in Michigan, Ohio, Indiana and Pennsylvania, an independent third-party analysis requested by Consumer Energy Alliance (CEA) finds.

Weinstein, Clower and Associates used the IMPLAN economic input-output model to examine the potential economic losses and business disruptions those states, others nearby and Canadian provinces would sustain as a result of the closure of Enbridge’s Line 5, a vital piece of regional energy infrastructure.

Shockingly, two-thirds of the losses, or $13.7 billion, would come from Ohio. That is more than four times the impact to Michigan, according to the study.

The modeled losses likely understate the real-world impact because the study does not examine several other avenues of knock-on economic effects which will add to the total economic damage. These include expected upward pressure on fuel prices for consumers for gasoline and home heating; commercial trucking and aviation users; and farmers whose fertilizers rely on the feedstock carried by Line 5. Higher fuel prices across the board translate to more expensive costs to consumers.

The report estimated the following regional and state level economic losses (MI, OH, IN, PA):

• $20.8 billion loss in economic activity;
• $8.3 billion reduction in combined Gross State Product;
• $2.36 billion foregone labor earnings in salaries, wages and benefits;
• 33,755 lost jobs; and
• $265.7 million lower annual state tax revenues.

“Line 5 delivers energy that affordably fuels the lives and livelihoods of countless consumers, farmers and businesses across Michigan, Ohio, Indiana and Pennsylvania. After enduring decades of economic and job-creation challenges, CEA is concerned that the reckless and arbitrary action by Governor Whitmer to shut down Line 5 could halt the region’s positive progress and further erode our economic competitiveness,” CEA Midwest Executive Director Chris Ventura said.

“If Line 5 is shut down, the region – with Ohio bearing the highest economic burden – will see job losses, diminished tax receipts and higher energy costs. Our region cannot afford to send people and good-paying jobs to other parts of the country. A shutdown of Line 5 would be bad for the Midwest’s economy and harmful to U.S.-Canadian relations. Instead of closing Line 5, our leaders should acknowledge the necessity of continuing to use the safest, most environmentally responsible way to transport energy while providing additional environmental protections for our Great Lakes by supporting the Line 5 Tunnel Project.”

“While Governor Whitmer may enjoy shutting down her state’s economy for political purposes, families and small businesses across the region and Canada deserve better. We hope Michigan’s governor wakes up to the fact that her irresponsible opposition to Line 5 will destroy the lives and livelihoods of tens of thousands of families, and actually do more harm to the environment. It is time to come together to build the Line 5 Tunnel Project so our families and businesses can continue to receive the life-sustaining energy we need, in the safest and most environmentally responsible way possible.”

About Consumer Energy Alliance

Consumer Energy Alliance (CEA) is the leading voice for sensible energy and environmental policies for consumers, bringing together families, farmers, small businesses, distributors, producers, and manufacturers to support America’s environmentally sustainable energy future. With more than 550,000 members nationwide, we are committed to leading the nation’s dialogue around energy, its critical role in the economy, and how it supports the vital supply chains for the families and businesses that depend on them. CEA works daily to encourage communities across the nation to seek sensible, realistic, and environmentally responsible solutions to meet our nation’s energy needs.

Kristin Marcell
215-595-7046
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Goal Setting and Measurement report finds decarbonization strategies are increasingly complex and current solutions may not be enough to achieve aggressive targets

OVERLAND PARK, Kan.--(BUSINESS WIRE)--Companies of all sizes across business sectors are elevating sustainability as a core tenet of their practices, yet a new Black & Veatch report discovers that many companies continue to establish targets without a clear understanding of how to achieve them.

Black & Veatch’s Corporate Sustainability Goal Setting and Measurement report, developed with GreenBiz Group and released today as a free download, finds that corporate leadership teams across all sectors are working to accelerate the shift from discussing and establishing sustainability goals to actively delivering tangible results. How to achieve the most aggressive goals remains an area of uncertainty across business types and scale.

“This report confirms that sustainability strategies increasingly are becoming complex and require companies to consider operational planning views that can extend for decades,” said Rob Wilhite, leader of Black & Veatch’s distributed generation services team. “With decarbonization a critical element, roadmaps will help companies set realistic targets in the short and medium terms, while offering the flexibility and agility required to comply with complex regulatory changes and rapidly evolving technology.”

Key findings include:

• More than 80 percent of companies surveyed with revenues greater than $250 million have set greenhouse gas reduction goals, but 25 percent are unsure how they’ll meet them.
• Electric vehicles are being piloted by more than half of companies with revenues greater than $1 billion as a strategic component toward achieving sustainability goals.
• More than three-quarters of companies with revenues of at least $10 billion are using analytics to reduce energy and water usage, as are more than half of all other companies.
• Companies are using a combination of capital expenditures (CapEx) and operating expenses (OpEx) to fund sustainability projects while green and sustainability bonds gain traction.
• Corporate management and investors are the top stakeholders driving sustainability commitments, far outweighing other influencers such as customers or regulators.
• Of the survey’s largest companies – those with revenue exceeding $10 billion – two-thirds have set Scope 3 emissions targets, reflecting the growing trend to influence emissions of other companies and activities in their value chains.

Greenhouse gas reductions through the combination of energy efficiency and renewable energy sourcing is viewed as essential for many large companies. Given that enterprise-level power assets can have operational horizons that span decades, companies setting or adjusting targets must understand all options available to them to avoid getting locked into one technology path. By having a clear understanding of technology maturity and cost, as well as the changing regulatory environment, companies can avoid these pitfalls.

The transition will take time, but many innovative solutions already are here: Low- and zero-emissions power generation, advanced renewable energy projects, alternative-fueled vehicles and advancing energy storage are creating an entire ecosystem of carbon-reduction technologies. Now companies must identify their impact on the global carbon cycle, comprehend the associated climate risks and identify opportunities to conceive, update or alter their decarbonization roadmap.

GreenBiz Group, in collaboration with Black & Veatch, conducted extensive research into corporate sustainability goals and the strategies being developed and deployed to achieve them. The report is based on an online survey that polled nearly 500 respondents across 14 industry sectors, with additional insight from interviews conducted with sustainability leadership at several Fortune 500 companies.

Editor’s Notes:

• Download Black & Veatch’s Corporate Sustainability Goal Setting and Measurement report.
• The report is based on a survey of 490 qualified stakeholders and interviews conducted with sustainability leadership at Black & Veatch, The Chemours Company, Jones Lang Lasalle, Molson Coors, Pfizer, Prologis, Takeda Pharmaceuticals and United Airlines.
• As a global leader in the design and implementation of sustainable energy, water and communications assets, Black & Veatch works with its clients to explore technology and infrastructure solutions and the environmental, economic and data management tools that can help projects and operations adapt in the face of extreme environmental, social and regulatory risks.

About Black & Veatch

Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow us on www.bv.com and on social media.

MELINA VISSAT | +1 303-256-4065 P | +1 617-595-8009 M | This email address is being protected from spambots. You need JavaScript enabled to view it.
24-HOUR MEDIA HOTLINE | +1 866-496-9149

Elected Officials Across U.S. Praise the Project for Fostering New Jobs and Prosperity

HOUSTON--(BUSINESS WIRE)--Port Houston marks National Infrastructure Week by highlighting the groundbreaking for the start of construction work to support widening and deepening the 52-mile Houston Ship Channel. Known as Project 11, the project’s far-reaching benefits impact the United States and the entire Gulf region, and have generated bipartisan praise from officials across the state and nation.

The nearly billion-dollar project will create safer and more efficient navigation for the ships and vessels, calling the more than 200 private and eight public terminals that comprise the Port of Houston.

“Our port serves as the anchor for the Texas region,” Port Houston Chairman Ric Campo said. “Expanding the Houston Ship Channel to accommodate the growth of vessel calls, vessel sizes, and cargo needs for customers and consumers will continue providing over 3.2 million jobs and $802 billion in economic value to the nation.”

Port Houston is the local sponsor of the Houston Ship Channel, providing stewardship of the federal waterway. Executive Director Roger Guenther praised its strong partnership with the U.S. Army Corps of Engineers (USACE). He applauded the USACE’s “continued commitment” to delivering for the Texas Gulf coast “vital engineering solutions to secure our nation, energize our economy, while also reducing disaster risks.”

“As we begin construction of Project 11, we have a glimpse into the future we are building,” Guenther said. “This project will enable vessels to deliver goods to our doorsteps, export USA-made cargo around the world, provide safe passage for thousands of ships, and shape the livelihoods of millions of Americans for generations to come.”

“The Army Corps of Engineers looks forward to continuing to partner with Port Houston to deepen and widen this lifeline for our nation’s exporters and importers. Port Houston is a perfect example of ‘if there’s a will, there’s a way,’” said USACE Galveston District Col. Timothy Vail, who delivered remarks during Monday’s groundbreaking ceremony, underscoring its importance.

“The Port and the Army Corps of Engineers are making sure that this project is delivered in line with the priorities of the American people, which are to get it done fast, so we see immediate returns on the transportation efficiencies it will provide, and to start thinking about what’s next,” he added.

Chairman Campo recognized the support and collaboration “of hundreds of stakeholders” including “the steadfast advocacy of our local and Congressional delegations, the leadership of Col. Vail and his team, the vision of the Port Commission, and the expertise of our contractors, designers, and Port Houston staff” to reach this milestone.

A testament to this milestone’s significance is the bipartisan praise it elicited from elected officials across Texas and the nation, including U.S. Senator John Cornyn. “Access to safe and efficient infrastructure is critical as more goods come in and out of Texas ports each day,” said Sen. Cornyn. “I applaud Port Houston’s partnership with the U.S. Army Corps of Engineers and will continue to do everything I can to improve the lives of Texans in the Port of Houston.”

U.S. Representative Brian Babin, a member of the House Transportation and Infrastructure Committee said, “Ensuring this important initiative was brought to life has been a top priority for me in Congress. Expanding the HSC will revolutionize Texas by modernizing and improving our infrastructure, which is a critical step toward advancing America’s energy independence and strengthening our national security.”

U.S. Representative Kevin Brady said, “The Houston area – and our nation – is eagerly awaiting completion of Project 11. This project will support over 1.3 million Texas jobs, $800 billion in economic value to the nation, and will ensure the U.S. remains a top energy exporter. I’m proud to have supported this project since the beginning and look forward to its next steps.”

U.S. Representative Sylvia Garcia said, ”The Port of Houston, my district, and our country are powered by highly-skilled union workers who build and transform our nation's transportation, trade, energy, and technology sectors. I am working hard to make sure that our infrastructure is designed to meet the demands of the modern world, and that it supports a robust, growth-driven, and equitable economy."

U.S. Representative Al Green said, “The Port of Houston is an invaluable asset not only to the City of Houston and the State of Texas, but to our nation as a whole. With nearly 700,000 jobs in the local region generated from terminal activity and more than 285 million tons of cargo handled in 2019, the Port of Houston has been a key component of our country’s infrastructure since 1914. I am proud to support the Port in its efforts to expand.”

U.S. Representative Sheila Jackson Lee said, “The Houston Ship Channel generates and processes over 20% of the Texas GDP and this is why I continue to advocate for funding for the important work of the U.S. Army Corps of Engineers, which includes Project 11 to deepen and widen the Houston Ship Channel so that the Port can continue to serve the people of Houston, the State of Texas and the nation.”

U.S. Representative Eddie Bernice Johnson, former chairwoman of the House Transportation and Infrastructure Committee’s Water Resources and Environment Subcommittee said, “I would like to commend Port Houston for the port’s tremendous advancements on Project 11, a critical project which benefits not only the state of Texas, but the entire nation. I am proud to continue working closely as a partner to the Port of Houston. The continued progress on Project 11 will serve to accelerate and augment the port’s success and capabilities into the future.”

U.S. Representative Michael McCaul said, “By improving this port, more manufactured goods and energy will be exported – supporting millions of jobs in both the Houston area and across the United States. I am proud to support the Corps’ mission in carrying out this project.”

Texas Lt. Governor Dan Patrick said, “Projects like Project 11 are key to making the Texas economy even stronger, and I congratulate the Port Houston for moving forward on the Ship Channel expansion. Project 11 will not only affect the Port of Houston region, but its impact will also be felt throughout Texas.”

Harris County Precinct 2 Commissioner Adrian Garcia said, “There is no more important piece of infrastructure in Texas and possibly the entire United States than the Port of Houston. The upcoming widening project will bring about more economic development and more jobs. However, we must also look at supportive infrastructure surrounding the port and the associated new developments that will keep the Port of Houston as the premier commercial waterway in the world.”

Lastly, further signaling its significance to the region, Houston Mayor Sylvester Turner said, “The Port of Houston Authority is integral to the economic success of the entire Houston region. The Project 11 deepening and widening project on the Houston Ship Channel will ensure that we can create jobs and expand the capacity to import and export goods into the future.”

Turner concluded his remarks noting the support and appreciation for the collaborative efforts for this historic milestone, “I sincerely thank the congressional delegation, Port leadership and partners involved in this extraordinary endeavor. By working together, we are building the infrastructure that is needed to make the channel safer and more efficient. We all benefit from a commitment to invest in the project and secure the Houston Ship Channel’s global position as a strong and competitive waterway.”

The first Project 11 construction contract was awarded by Port Houston at the April Port Commission meeting, and will prepare the site to receive dredge material as the channel is expanded. In addition, more than half of the total $24 million in contracts approved at that meeting were to support Project 11 efforts, further demonstrating the Port Commission’s continued efforts towards stewardship of the channel.

About Port Houston

For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient and fastest-growing container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at www.PortHouston.com.

Lisa Ashley, Director, Media Relations
Office: 713-670-2644; Mobile: 832-247-8179
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Building-Integrated Photovoltaics (BIPV): Technologies and Global Markets 2020-2025" report has been added to ResearchAndMarkets.com's offering.

The report provides an overview of the global market for BIPV and analyzes market trends. Using 2019 as the base year, the report provides estimated market data for the forecast period 2020 through 2025. Revenue forecasts for this period are segmented based on technology, application, end-user and geography.

The report also focuses on the major driving trends and challenges that affect the market and the vendor landscape. The report explains the value chain, competitive landscape and current trends in the BIPV market. The report concludes with an analysis of the BIPV vendor landscape and includes detailed profiles of the major players in the global BIPV market.

Companies Mentioned

• Ascent Solar Technologies Inc.
• Avancis Gmbh
• Canadian Solar Inc.
• Certainteed Corp.
• Dow Inc.
• Ertex Solartechnik Gmbh
• First Solar Inc.
• Hanergy Holding Group
• Heliatek Gmbh
• Issol Sa
• Kyocera Corp.
• Nanoflex Power Corp.
• Panasonic Corp.
• Polysolar Ltd.
• Sharp Corp.
• Sphelar Power Corp.
• Sunpower Corp.
• Yingli Green Energy Holding Co., Ltd.

The scope of the report is limited to the below mentioned points only:

• The scope of the report includes the global market of commercially deployed BIPV projects.
• The projects that are in the design phase or the pre-development phase have not been considered in the calculation of the overall market size.
• The market size includes the market of both hardware as well as the service part.
• The after-sales services market such as software upgrade or hardware maintenance has not been considered in the report.
• The report includes both new constructions as well as renovation projects for the calculation of overall market size.
• Utility-scale power grid projects have not been considered in the report scope.

The Report Includes:

• 35 data tables and 89 additional tables
• An updated review of the global market for building-integrated photovoltaic (BIPV) materials and related technologies
• Analyses of the global market trends, with data from 2019-2020, estimates for 2021 and 2023, and projections of compound annual growth rates (CAGRs) through 2025
• Discussion of market opportunities and drivers for BIPV materials market, current trends and ongoing research activities, industry regulations and COVID-19 impact shaping the growth of the PV industry
• Estimation of the market size and corresponding market share analysis by technology, application, end user and geographical region for key market segments and sub-segments
• Identification of major stakeholders in the market, and analysis of their company shares and key competitive landscape
• Patent review and analysis of patents granted for technologies related to advanced PV materials and devices used in BIPV
• A comparative study and SWOT analysis of the top four BIPV technologies, which could further assist stakeholders in formulating appropriate strategies

Key Topics Covered:

Chapter 1 Introduction

Chapter 2 Summary and Highlights

Chapter 3 Market and Technology Background

• Global Energy Sources
• Importance of Renewable Energy
• Overview of Photovoltaics
• BIPV Industry Outlook
• Impact of COVID-19 on Electronic Chemicals and Materials Market
• Overview
• Impact on the Industry
• Conclusion
• Market Dynamics

Chapter 4 Market Breakdown by Technology

• Overview
• Crystalline Silicon
• Single-Crystal Silicon PVs
• Polycrystalline Silicon PVs
• Thin Film
• Amorphous Silicon
• Cadmium Telluride
• Copper Indium Gallium Diselenide
• Others
• Multi-Junction Cells
• Dye-Sensitized Solar Cells
• Quantum Dot PVs
• Organic Solar Cells
• Nanomaterials
• Other Third-Generation PV Materials
• Additional Information

Chapter 5 Market Breakdown by Application

• Overview
• Roofing
• Roofing Shingles
• Roofing Tiles
• Standing Seam Metal Roofing
• Single-Ply Membrane Roofing
• Facades
• Building Cladding
• Green Parking
• Glazing
• Skylights
• Architectural Shading
• Additional Information

Chapter 6 Market Breakdown by End User

• Overview
• Residential
• Commercial
• Industrial
• Additional Information

Chapter 7 Market Breakdown by Region

• Overview
• Americas
• North America
• South America
• Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Taiwan
• Australia
• Middle East and Africa

Chapter 8 Industry Regulations, Standards and Patents

• Patent Analysis
• Overview
• Patent Trends
• Sample Patent Abstracts
• Government Policies and Support
• Government Support
• Overview of BIPV Policies, Regulations and Incentive Programs
• General
• FITs vs. Rates Net Metering
• BIPV Policies, Regulations and Incentive Programs in North America
• BIPV Policies, Regulations, and Incentive Programs in Europe and the EU
• Microanalysis of Individual European Countries
• BIPV Policies, Regulations and Incentive Programs in APAC
• ASEAN Countries
• BIPV Policies, Regulations and Incentive Programs in the Rest of the World
• BIPV-Relevant International Standards
• International Certification Standards
• EU-Specific Certification Standards

Chapter 9 Company Profiles

Chapter 10 Appendix: Acronyms and Abbreviations

For more information about this report visit https://www.researchandmarkets.com/r/otr6lm

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
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DALLAS--(BUSINESS WIRE)--Pioneer Natural Resources Company (NYSE: PXD) (“Pioneer” or “the Company”) today announced that it has priced a public offering of $750.0 million of 0.550% Senior Notes that will mature May 15, 2023 (the “Notes”), pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission. The price to the public for the Notes is 99.994% of the principal amount.

The Company intends to use the net proceeds of $748 million from the offering, after deducting underwriting discounts (excluding fees and expenses of the offering), to finance the redemption of all outstanding 7.750% Senior Notes due 2025 issued jointly by Double Eagle III Midco 1 LLC and Double Eagle Finance Corporation (the “Issuers”), which were indirect wholly-owned subsidiaries of DoublePoint Energy, LLC prior to the Company’s acquisition of the Issuers on May 4, 2021, and for general corporate purposes.

Interest on the Notes will be payable on May 15 and November 15 of each year. The first interest payment will be due on November 15, 2021, and will consist of interest from closing to that date. The offering is expected to close on May 18, 2021, subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC will act as Joint Book-Running Managers for the offering. When available, a copy of the preliminary prospectus supplement and accompanying base prospectus relating to the offering may be obtained from: Goldman Sachs & Co. LLC at: 200 West Street, New York, NY 10282, Attention: Prospectus Department, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Telephone: 1 (866) 471-2526, Facsimile: 1 (212) 902-9316; Morgan Stanley & Co. LLC at: 180 Varick Street, New York, NY 10014, Attention: Prospectus Department, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Telephone: 1 (866) 718-1649; TD Securities (USA) LLC at: 1 Vanderbilt Avenue, 12th Floor, New York, New York 10017, Attention: Syndicate Department, Telephone: 1 (855) 495-9846; or Wells Fargo Securities, LLC at: 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Telephone: 1 (800) 645-3751.

An electronic copy of the preliminary prospectus supplement and accompanying base prospectus may also be obtained at no charge at the Securities and Exchange Commission’s website at www.sec.gov.

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

Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States.

Cautionary Statement Regarding Forward-Looking Information

Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release specifically include statements regarding the redemption. Forward-looking statements and the business prospects of Pioneer are subject to a number of risks and uncertainties that may cause Pioneer’s actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, volatility of commodity prices, product supply and demand, the impact of a widespread outbreak of an illness, such as the COVID-19 pandemic, global and U.S. economic activity, government regulation or action, Pioneer’s ability to implement its business plans or complete its development activities as scheduled, access to and cost of capital, the financial strength of counterparties to Pioneer’s credit facility, investment instruments and derivative contracts and purchasers of Pioneer’s oil, natural gas liquids and gas production, and acts of war or terrorism. These and other risks are described in Pioneer’s Annual Report on Form 10-K for the year ended December 31, 2020, Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and other filings with the Securities and Exchange Commission. In addition, Pioneer may be subject to currently unforeseen risks that may have a materially adverse impact on it. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Pioneer undertakes no duty to publicly update these statements except as required by law.

Pioneer Natural Resources Company Contacts:

Investors
Neal Shah – 972-969-3900
Tom Fitter – 972-969-1821
Michael McNamara – 972-969-3592
Greg Wright – 972-969-1770

Media and Public Affairs
Tadd Owens – 972-969-5760

TORONTO--(BUSINESS WIRE)--Chemtrade Logistics Income Fund (TSX: CHE.UN) convened its annual and special meeting of Chemtrade unitholders at 10 a.m. EDT this morning. Due to a lack of quorum, the meeting was then adjourned until Wednesday, May 26, 2021 at 10 a.m. EDT to allow Chemtrade unitholders additional time to vote.

Chemtrade unitholders who have already voted do not need to recast their votes. Proxies previously submitted will be voted at the reconvened meeting unless properly revoked.

The adjourned meeting will be virtual-only via live audio webcast at https://web.lumiagm.com/283819479. Additional information on the items of business can be found in our Management Information Circular on our website and on SEDAR at www.sedar.com.

Rohit Bhardwaj
Chief Financial Officer
Tel: (416) 496-4177

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

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Nuverra Environmental Solutions, Inc. (NYSE American: NES) (“Nuverra” or the “Company”) today announced financial and operating results for the first quarter ended March 31, 2021.

SUMMARY OF FINANCIAL RESULTS

• Revenue for the first quarter of 2021 was $23.7 million compared to $37.9 million for the first quarter of 2020.
• Net loss for the first quarter of 2021 was $7.6 million compared to a net loss of $23.0 million for the first quarter of 2020, primarily as a result of $15.6 million of long-lived asset impairment charges in 2020.
• Adjusted EBITDA for the first quarter of 2021 was a loss of $0.8 million compared to a profit of $1.9 million for the first quarter of 2020, driven by activity declines year over year partially offset by meaningful fixed and variable cost reductions.
• During the three months ended March 31, 2021, the Company generated net cash used in operating activities of $0.8 million.
• Total liquidity available as of March 31, 2021 was $15.6 million including $5.0 million available under the Company’s undrawn operating line of credit.
• Principal payments on debt and finance lease payments during the three months ended March 31, 2021 totaled $0.8 million.
• The Company invested $0.6 million in gross capital expenditures during the first quarter of 2021.

FIRST QUARTER 2021 RESULTS

For the first quarter of 2021 when compared to the first quarter of 2020, revenue decreased by 38%, or $14.3 million, resulting primarily from lower water transport services in the Rocky Mountain and Northeast divisions and lower disposal services in all three divisions. Despite an increase in the average commodity prices for both crude oil and natural gas quarter over quarter, which increased 28% and 83%, respectively, over this time, our customers have been limiting their activities, which reduced production volumes. The reduced demand for gasoline, diesel and jet fuel has led to lower drilling and completion activity with fewer rigs operating in all three divisions. Rig count at the end of the first quarter of 2021 compared to the end of the first quarter of 2020 declined 77% in the Rocky Mountain division, 26% in the Northeast division and 4% in the Southern division.

The Rocky Mountain division experienced a significant slowdown as compared to the prior year, as evidenced by the rig count declining 77% from 52 at March 31, 2020 to 12 at March 31, 2021. Although there was a notable increase in WTI crude oil price per barrel, which averaged $58.09 in the first quarter of 2021 versus an average of $45.34 for the same period in 2020, new drilling and completion activities have been very low, causing total production levels to decline over time as existing wells fell down. Revenues for the Rocky Mountain division decreased by $10.7 million, or 46%, during the three months ended March 31, 2021 as compared to the three months ended March 31, 2020, primarily due to a $4.7 million, or 33%, decrease in water transport revenues from lower trucking volumes. Revenue from company-owned trucking revenue declined 33%, or $3.4 million and third-party trucking revenue decreased 20%, or $0.7 million, and water transfer revenue decreased $0.6 million or 99%. Company-owned trucking activity is more levered to production water volumes, and third-party trucking activity is more sensitive to drilling and completion activity, which has declined to historically low levels. This decline was also materialized by a reduction of driver count, along with other factors cited above, resulted in meaningful revenue reduction. Our rental and landfill businesses are our two service lines most levered to drilling activity, and therefore have declined by a higher percentage versus the prior period. Rental revenues decreased by 61%, or $2.1 million, in the current year due to lower utilization resulting from a significant decline in drilling activity driving the return of rental equipment. Our landfill revenues decreased 97%, or $1.4 million, compared to prior year due primarily to a 98% decrease in disposal volumes at our landfill as rigs working in the vicinity declined materially. Due to the fact that our landfill was over capacity, we turned away some orders, besides the basic required orders. Also, we delayed the expansion of our landfill because of the market conditions, but we expect to expand our landfill capacity during the remainder of 2021. Our salt water disposal well revenue decreased $1.1 million, or 46%, compared to prior year as lower completion activity and lower production volumes led to a 44% decrease in average barrels per day disposed during the current year largely as a result of the trend of operators transporting water to disposal wells via pipeline. Other revenue, which derives from the sale of “junk” or “slop” oil obtained through the skimming of disposal water, decreased by $1.3 million.

Revenues for the Northeast division decreased by $2.5 million, or 25%, during the first quarter of 2021 as compared to the first quarter of 2020 due to decreases in water transport services of $1.8 million, or 25%, and disposal services of $0.4 million, or 19%. Although natural gas prices per million Btu, as measured by the Henry Hub Natural Gas Index, increased 83.2% from an average of $1.91 for the three months ended March 31, 2020 to an average of $3.50 for the three months ended March 31, 2021, producers continued their drilling activities at historical low levels. The limited new drilling activities caused a 26% rig count reduction in the Northeast operating area from 50 at March 31, 2020 to 37 at March 31, 2021. Additionally, although there was a 28% increase in WTI crude oil prices compared to the prior year, many of our customers who have historically focused on production of liquids-rich wells reduced activity levels in our operating area due to lower realized prices for these products. This led to lower activity levels for both water transport services and disposal services despite the increase in natural gas prices and crude oil prices. In addition to reduced drilling and completion activity, our customers continued the industry trend of water reuse during completion activities. Water reuse inherently reduces trucking activity due to shorter hauling distances as water is being transported between well sites rather than to disposal wells. For our trucking services, revenues per billed hour decreased by 15% which was a function of the increased competition and the operator focus on reducing costs. The regional driver count declined approximately 30% year over year which also contributed to the lower revenue. The combination of a lower rig count, water reuse and sharing and competition, contributed to the decline in disposal volumes and pricing.

The Southern division experienced the lowest revenue decline relative to the other business units, driven by its focus on servicing customers who are themselves focused on dry natural gas, which has experienced a relatively smaller impact from the 2020 downturn in commodity prices. Revenues for the Southern division decreased by $1.1 million, or 24%, during the first quarter of 2021 as compared to the first quarter of 2020. The decrease was due primarily to lower disposal well volumes, whether connected to the pipeline or not, resulting from an activity slowdown in the region, as evidenced by fewer rigs operating in the area as well as lower revenue per barrel. Rig count declined 4% in the area, from 48 at March 31, 2020 to 46 at March 31, 2021. Volumes received in our disposal wells not connected to our pipeline decreased by an average of 7,547 barrels per day (or 30%) during the current year and volumes received in the disposal wells connected to the pipeline decreased by an average of 10,230 barrels per day (or 27%) during the current year.

Total costs and expenses for the first quarter of 2021 and 2020 were $30.6 million and $60.0 million, respectively. Total costs and expenses, adjusted for special items, for the first quarter of 2021 were $30.5 million, or a 31% decrease, when compared with $44.1 million in the first quarter of 2020. This is primarily a result of lower volumes and related costs in water transport services and disposal services and company cost cutting initiatives implemented during 2020, resulting in a 41% and 18% decrease in the number of drivers compared to the prior year period in the Rocky Mountain and Northeast divisions respectively. In addition, there were declines in third-party hauling costs and fleet-related expenses, including maintenance and repair costs and fuel, and general and administrative expenses.

Net loss for the first quarter of 2021 was $7.6 million, a decrease of $15.4 million as compared to a net loss for the first quarter of 2020 of $23.0 million. For the first quarter of 2021, the Company reported a net loss, adjusted for special items, of $7.5 million. This compares with a net loss, adjusted for special items, of $7.3 million in the first quarter of 2020.

Adjusted EBITDA for the first quarter of 2021 was a $0.8 million loss, a decrease of 140.7% as compared to adjusted EBITDA for the first quarter of 2020 of $1.9 million. The decrease is a function of the reasons discussed previously, with primary drivers being lower trucking volumes, salt water disposal volumes and rental equipment utilization in the Rocky Mountain division. First quarter of 2021 adjusted EBITDA margin was (3)%, compared with 5% in the first quarter of 2020 driven primarily by declines in revenue partially offset by cost reductions implemented throughout 2020 that still remained in place during the first quarter of 2021.

CASH FLOW AND LIQUIDITY

Net cash used in operating activities for the three months ended March 31, 2021 was $0.8 million, mainly attributable to an increase of $1.5 million in accounts receivable, while capital expenditures net of asset sales consumed $0.5 million. Asset sales were related to unused or underutilized assets. Gross capital expenditures for the first quarter of $0.6 million primarily included the purchase of property, plant and equipment as well as expenditures to extend the useful life and productivity of our fleet, equipment and disposal wells.

Total liquidity available as of March 31, 2021 was $15.6 million. This consisted of $10.6 million of cash and $5.0 million available under our operating line of credit. As of March 31, 2021, total debt outstanding was $33.5 million, consisting of $13.0 million under our equipment term loan, $9.8 million under our real estate loan, $4.0 million under our Paycheck Protection Program loan, $0.3 million under our vehicle term loan, $0.1 million for an equipment term loan and $7.2 million of finance leases for vehicle financings and real property leases, less $0.9 million of debt issuance costs.

About Nuverra

Nuverra Environmental Solutions, Inc. provides water logistics and oilfield services to customers focused on the development and ongoing production of oil and natural gas from shale formations in the United States. Our services include the delivery, collection, and disposal of solid and liquid materials that are used in and generated by the drilling, completion, and ongoing production of shale oil and natural gas. We provide a suite of solutions to customers who demand safety, environmental compliance and accountability from their service providers. Find additional information about Nuverra in documents filed with the U.S. Securities and Exchange Commission (“SEC”) at http://www.sec.gov.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. You can identify these and other forward-looking statements by the use of words such as “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “might,” “will,” “should,” “would,” “could,” “potential,” “future,” “continue,” “ongoing,” “forecast,” “project,” “target” or similar expressions, and variations or negatives of these words.

These statements relate to our expectations for future events and time periods. All statements other than statements of historical fact are statements that could be deemed to be forward-looking statements, and any forward-looking statements contained herein are based on information available to us as of the date of this press release and our current expectations, forecasts and assumptions, and involve a number of risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date. Future performance cannot be ensured, and actual results may differ materially from those in the forward-looking statements. Some factors that could cause actual results to differ include, among others: the severity, magnitude and duration of the coronavirus disease 2019 ("COVID-19") pandemic and commodity market disruptions; changes in commodity prices; fluctuations in consumer trends, pricing pressures, transportation costs, changes in raw material or labor prices or rates related to our business and changing regulations or political developments in the markets in which we operate; risks associated with our indebtedness, including changes to interest rates, decreases in our borrowing availability, our ability to manage our liquidity needs and to comply with covenants under our credit facilities, including as a result of COVID-19 and oil price declines; the loss of one or more of our larger customers; delays in customer payment of outstanding receivables and customer bankruptcies; natural disasters, such as hurricanes, earthquakes and floods, pandemics (including COVID-19), acts of terrorism, or extreme weather conditions, that may impact our business locations, assets, including wells or pipelines, or distribution channels, or which otherwise disrupt our customers' operations or the markets we serve; disruptions impacting crude oil and natural gas transportation, processing, refining, and export systems, including vacated easements, environmental impact studies, forced shutdown by governmental agencies and litigation affecting the Dakota Access Pipeline; bans on drilling and fracking leases and permits on federal land; our ability to attract and retain key executives and qualified employees in strategic areas of our business; our ability to attract and retain a sufficient number of qualified truck drivers; the unfavorable change to credit and payment terms due to changes in industry condition or our financial condition, which could constrain our liquidity and reduce availability under our operating line of credit; higher than forecasted capital expenditures to maintain and repair our fleet of trucks, tanks, pipeline, equipment and disposal wells; our ability to control costs and expenses; changes in customer drilling, completion and production activities, operating methods and capital expenditure plans, including impacts due to low oil and/or natural gas prices, shut-in production, decline in operating drilling rigs, closures or pending closures of third-party pipelines or the economic or regulatory environment; risks associated with the limited trading volume of our common stock on the NYSE American Stock Exchange, including potential fluctuation in the trading prices of our common stock; risks and uncertainties associated with the potential for a further appeal of the order confirming our previously completed plan of reorganization; risks associated with the reliance on third-party analyst and expert market projections and data for the markets in which we operate that is utilized in our business strategy; present and possible future claims, litigation or enforcement actions or investigations; risks associated with changes in industry practices and operational technologies; risks associated with the operation, construction, development and closure of salt water disposal wells, solids and liquids transportation assets, landfills and pipelines, including access to additional locations and rights-of-way, permitting and licensing, environmental remediation obligations, unscheduled delays or inefficiencies and reductions in volume due to micro- and macro-economic factors or the availability of less expensive alternatives; the effects of competition in the markets in which we operate, including the adverse impact of competitive product announcements or new entrants into our markets and transfers of resources by competitors into our markets; changes in economic conditions in the markets in which we operate or in the world generally, including as a result of political uncertainty; reduced demand for our services due to regulatory or other influences related to extraction methods such as hydraulic fracturing, shifts in production among shale areas in which we operate or into shale areas in which we do not currently have operations, and shifts to reuse of water and water sharing in completion activities; the unknown future impact of changes in laws and regulation on waste management and disposal activities, including those impacting the delivery, storage, collection, transportation, and disposal of waste products, as well as the use or reuse of recycled or treated products or byproducts; and risks involving developments in environmental or other governmental laws and regulations in the markets in which we operate and our ability to effectively respond to those developments including laws and regulations relating to oil and natural gas extraction businesses, particularly relating to water usage, and the disposal and transportation of liquid and solid wastes.

The forward-looking statements contained, or incorporated by reference, herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s views as of the date of this press release. The Company undertakes no obligation to update any such forward-looking statements, whether as a result of new information, future events, changes in expectations or otherwise. Additional risks and uncertainties are disclosed from time to time in the Company’s filings with the SEC, including our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.

NUVERRA ENVIRONMENTAL SOLUTIONS, INC. AND SUBSIDIARIES
NON-GAAP RECONCILIATIONS
(In thousands)
(Unaudited)

This press release contains non-GAAP financial measures as defined by the rules and regulations of the United States Securities and Exchange Commission. A non-GAAP financial measure is a numerical measure of a company’s historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statements of operations or balance sheets of the Company; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.

Nuverra Environmental Solutions, Inc.
Investor Relations
602-903-7802
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Project Applied under Title 17 Innovative Energy Loan Guarantee Program

SALT LAKE CITY--(BUSINESS WIRE)--#ChangeInPower--Mitsubishi Power Americas and Magnum Development today announced that their jointly developed Advanced Clean Energy Storage Project has been invited by the U.S. Department of Energy’s (DOE) Loan Programs Office to submit a Part II Application for up to $595 million under the Title 17 Innovative Energy Loan Guarantee Program to develop a proposed green hydrogen hub in Delta, Utah. The green hydrogen hub is part of a broad effort to support decarbonization efforts across the western U.S. The DOE program finances projects that accelerate commercial deployment of innovative energy technology that avoids, reduces, or sequesters greenhouse gas or air pollutant emissions.

The green hydrogen hub at the Advanced Clean Energy Storage Project would interconnect green hydrogen production, storage and distribution in the West. Green hydrogen — which is hydrogen produced from renewable energy sources — will support decarbonizing multiple industries including power, transportation, and manufacturing.

Haddington Ventures, the financial advisor for the project and equity sponsor of Magnum Development, will submit the Part II Application this summer. If successful, the project will enter due diligence for the potential loan guarantee. Additionally, Haddington Ventures is responsible for interfacing with the DOE as well as managing the Equity Syndication Program (ESP) to provide construction capital on behalf of the Advanced Clean Energy Storage Project.

If the project reaches loan closing, debt financing from the DOE would support construction of the green hydrogen hub, which ultimately targets building more than 1,000 megawatts (MW) of electrolysis facilities capable of producing more than 450 metric tonnes per day of green hydrogen. The hydrogen would be stored in the Advanced Clean Energy Storage Project’s salt caverns, which are natural geological formations providing safe, reliable, and cost-effective bulk storage of hydrogen. The massive salt formation is adjacent to the Intermountain Power Project near Delta, Utah, with transmission interconnections to major demand centers and significant renewable energy resource opportunities in the region.

The project’s salt caverns will be capable of holding more than 5,500 metric tonnes of hydrogen. From an energy storage perspective, one cavern holds the equivalent of 150 gigawatt hours (GWh) of carbon-free dispatchable energy and/or decarbonized fuel that can be used in other industries. By comparison, a U.S. Energy Information Administration (EIA) 2020 report estimates the current installed base of battery energy storage across the U.S. at 1.2 GWh. Therefore, using salt caverns for energy storage is a significant opportunity to expand energy storage resources throughout the U.S. and further supports the increased build-out of renewable energy.

Craig Broussard, President and CEO of Magnum Development, said, “We look forward to working with the Department of Energy to explore financing opportunities for innovative renewable energy projects like ours that not only will help decarbonize the West, but also will support hundreds of clean energy jobs in Millard County and across the state of Utah.”

Paul Browning, President and CEO of Mitsubishi Power Americas, said, “Together with our partner Magnum, we have been planning and developing the world’s largest renewable energy storage project for several years. We would welcome the Department of Energy’s support to help us realize utility-scale green hydrogen production, storage, and distribution to decarbonize power and other industries throughout the western U.S. Our green hydrogen hub will help bring a Change in Power.”

About Mitsubishi Power Americas, Inc.

Mitsubishi Power Americas, Inc. headquartered in Lake Mary, Florida, employs more than 2,000 power generation, energy storage, and digital solutions experts and professionals. Our employees are focused on empowering customers to affordably and reliably combat climate change while also advancing human prosperity throughout North and South America. Mitsubishi Power’s power generation solutions include natural gas, steam, aero-derivative, geothermal, distributed renewable technologies, environmental controls, and services. Energy storage solutions include green hydrogen and battery energy storage systems. Mitsubishi Power also offers digital solutions that enable autonomous operations and maintenance of power assets. Mitsubishi Power, Ltd. is a wholly owned subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI). Headquartered in Tokyo, Japan, MHI is one of the world’s leading heavy machinery manufacturers with engineering and manufacturing businesses spanning energy, infrastructure, transport, aerospace and defense. For more information, visit the Mitsubishi Power Americas website and follow us on LinkedIn.

About Magnum Development

Magnum Development, LLC owns and controls the only known “Gulf Coast” style domal-quality salt formation in the western United States. Magnum was originally funded by Haddington Energy Partners III, LP in 2008 to support a variety of projects centered around a large salt body near Delta, Utah. Site viability and profitability has been proven with one business, Magnum NGLs, LLC, which was successfully developed, brought to commercialization, and sold in 2015. In March 2018, Magnum Development entered into a joint venture with Sawtooth by contributing its refined products business for an 8% ownership interest in the Sawtooth JV. Magnum Development is focused on developing multiple portfolio companies, which are in various stages of development: natural gas, Compressed Air Energy Storage (CAES), refined products, and industrial gases such as hydrogen and helium.

About Haddington Ventures

Founded in 1998, Haddington Ventures, LLC oversees a growing portfolio of successful conventional and renewable energy businesses that are bringing innovative new infrastructure to the U.S. energy sector. Haddington Ventures, through its private equity funds, generally makes control-oriented investments in portfolio companies acquiring or developing energy infrastructure underwritten by long term contracts. Haddington Ventures is led by a team of senior energy professionals who have invested more than $1.5 billion in companies focused on energy infrastructure across multiple private equity funds and co-investment partnerships.

Mitsubishi Power Americas
Christa Reichhardt
+1 407-484-5599
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Magnum Development
Michelle Judd
+1 801-748-5560
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Haddington Ventures
Karla Coronado
+1 713-532-7992
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KANSAS CITY, Mo.--(BUSINESS WIRE)--CorEnergy Infrastructure Trust, Inc. ("CorEnergy" or the "Company") today announced financial results for the first quarter, ended March 31, 2021.

First Quarter 2021 and Recent Highlights

• Effective February 1, 2021, CorEnergy acquired Crimson Midstream Holdings, LLC (“Crimson”) in exchange for total consideration of $344 million, including a 49.5 % voting interest and the right to the remaining voting interest upon regulatory approval.
• As part of the Crimson transaction, effective February 1, 2021, CorEnergy transferred its GIGS asset to the sellers of Crimson, terminated the lease of GIGS, and agreed to forgo collection efforts on past rents and to dismiss other claims against the tenant of GIGS.
• Also effective February 1, 2021, CorEnergy entered into an agreement to acquire Corridor, its external manager in exchange for CorEnergy equity securities (subject to stockholder approval as required by NYSE rules).

Management Commentary

"In the first quarter of 2021 CorEnergy created a critical infrastructure platform of energy pipelines and storage assets, subject to regulatory oversight," said Dave Schulte, Chief Executive Officer. "The Crimson management team retained substantially all of their value in equity securities, and the Corridor team agreed to internalize for equity. We created an industry leading platform to own and operate or lease infrastructure assets with desirable REIT characteristics and management alignment directly with our stockholders."

"The first quarter results include two months of Crimson operations in California, where volumes have continued to be constrained by the effects of the COVID-19 pandemic. We believe that a combination of a return to pre-COVID market conditions in California, near-term commercial opportunities and acquisition efficiencies will ultimately enable CorEnergy to increase our annualized common stock dividend from the current $0.20 per year to our target of $0.35-$0.40 per share. In the interim, our newly strengthened balance sheet provides coverage of our debt and preferred equity obligations, plus additional protection to our common equity holders through the potential subordination of dividends on common equivalent equity expected to be held by management upon approval of our stockholders."

"While we have just completed a significant transaction, we are already evaluating both asset and platform-level expansion opportunities. We believe CorEnergy is positioned to develop scale and further diversification, while participating in the ongoing energy transition in the United States, particularly within our footprint in California," continued Schulte. "While there is no assurance that acquisitions will be completed, the increase in prospective opportunities should enable us to provide stockholders with dividend stability with prospects for modest long-term growth."

First Quarter Performance Summary

First quarter 2021 reflects the adverse impact of the disposition of GIGS and related assets and costs, and only two months of activity from Crimson, which was acquired effective February 1, 2021. First quarter financial highlights are as follows:

¹ Adjusted Net Income excludes special items of $6.1 million which are not representative of on-going operations; however CAD has not been so adjusted. Reconciliations of Adjusted Net Income and CAD, as presented, to Net Loss and Net Cash Used In Operating Activities are included at the end of this press release. See Note 1 for additional information.

² Adjusted EBITDA excludes special items of $6.1 million which are not representative of on-going operations. Reconciliation of Adjusted EBITDA, as presented, to Net Loss is included at the end of this press release. See Note 2 for additional information.

Dividend and Distribution Declarations

The Company currently expects all of its 2021 Common Stock and Preferred Stock dividends will be characterized as Return of Capital for tax purposes.

Common Stock: A first quarter 2021 dividend of $0.05 per share was declared for CorEnergy's common stock. The dividend will be paid on May 28, 2021, to stockholders of record on May 14, 2021.

Preferred Stock: For the Company's 7.375% Series A Cumulative Redeemable Preferred Stock, a cash dividend of $0.4609375 per depositary share was declared. The preferred stock dividend, which equates to an annual dividend payment of $1.84375 per depositary share, will be paid on May 28, 2021, to stockholders of record on May 14, 2021.

Class A-1 Units: For the Company's Series C Preferred stock, as if they were outstanding, a cash dividend which equates to 9% annually on the par value was declared from the period commencing April 1, 2021 ending on May 31, 2021, payable in cash as a distribution to holders of Class A-1 Units.

Class A-2 Units: For the Company's Series B Preferred stock, as if they were outstanding, a dividend which equates to 4% annually on the par value was declared from the period commencing April 1, 2021 ending on May 31, 2021, which the Company intends to pay as a distribution to holders of Class A-2 Units.

Outlook

CorEnergy updated the following outlook provided subsequent to its acquisition of Crimson California, with revenue and adjusted EBITDA guidance from the second half of 2021.

• Revenue expected to be $130-$135 million annualizing both CORR’s legacy assets and Crimson’s assets for the second half 2021
• Internalization of manager expected to result in approximately $2.0 million of annualized SG&A savings
• Combined adjusted EBITDA of $50-$52 million, on an annualized basis, beginning in the second half of 2021
• Maintenance capital expenditures expected to be in the range of $10-$11 million in 2021
• Current annualized dividend of $0.20, targeting $0.35-$0.40 upon a return to pre-COVID market conditions in California, with near term commercial opportunities providing upside
• Term Loan amortization scheduled at $8.0 million per year facilitates deleveraging to a target of < 4.0x Adjusted EBITDA by FYE 2022 to create financial flexibility and reduce risk

First Quarter Results Call

CorEnergy will host a conference call on Tuesday, May 11, 2021 at 2:00 p.m. Central Time to discuss its financial results. Please dial into the call at +1-201-689-8035 at least five minutes prior to the scheduled start time. The call will also be webcast in a listen-only format. A link to the webcast will be accessible at corenergy.reit.

A replay of the call will be available until 2:00 p.m. Central Time on June 11, 2021, by dialing +1-919-882-2331. The Conference ID is 40739. A webcast replay of the conference call will also be available on the Company’s website, corenergy.reit.

About CorEnergy Infrastructure Trust, Inc.

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

Forward-Looking Statements

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although CorEnergy believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including, among others, failure to realize the anticipated benefits of the Transaction or Internalization; the risk that CPUC approval is not obtained, is delayed or is subject to unanticipated conditions that could adversely affect CorEnergy or the expected benefits of the Transaction, risks related to the uncertainty of the projected financial information with respect to Crimson, the failure to receive the required approvals by existing CorEnergy stockholders; the risk that a condition to the closing of the Internalization may not be satisfied, CorEnergy’s ability to consummate the Internalization, and those factors discussed in CorEnergy’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, CorEnergy does not assume a duty to update any forward-looking statement. In particular, any distribution paid in the future to our stockholders will depend on the actual performance of CorEnergy, its costs of leverage and other operating expenses and will be subject to the approval of CorEnergy’s Board of Directors and compliance with leverage covenants.

Notes

¹Management uses CAD as a measure of long-term sustainable performance. Adjusted Net Income and CAD are non-GAAP measures. Adjusted Net Income represents net income (loss) adjusted for loss on impairment of property; (gain) loss on disposal of property; deferred rent receivable write-off; (gain) loss on extinguishment of debt and transaction-related costs. CAD represents Adjusted Net Income adjusted for depreciation, amortization and ARO accretion expense; amortization of debt issuance costs and income tax expense (benefit) less maintenance capital expenditures; preferred dividend requirements and mandatory debt amortization. Reconciliations of Adjusted Net Income and CAD to Net Loss and Net Cash Provided By (Used In) Operating Activities are included in the additional financial information attached to this press release.

² Management uses Adjusted EBITDA as a measure of operating performance. Adjusted EBITDA represents net income (loss) adjusted for items such as loss on impairment of property; (gain) loss on disposal of property; deferred rent receivable write-off; (gain) loss on extinguishment of debt and transaction-related costs. Adjusted EBITDA is further adjusted for depreciation, amortization and ARO accretion expense; income tax expense (benefit) and interest expense. The reconciliation of Adjusted EBITDA to Net Loss is included in the additional financial information attached to this press release.

Non-GAAP Financial Measurements (Unaudited)

The following table presents a reconciliation of Net Loss, as reported in the Consolidated Statements of Operations, to Adjusted Net Income and CAD (includes the Crimson Transaction from February 1, 2021 to March 31, 2021):

The following table reconciles net cash provided by (used in) operating activities, as reported in the Consolidated Statements of Cash Flow, to CAD (includes the Crimson Transaction from February 1, 2021 to March 31, 2021):

The following table presents a reconciliation of Net Loss, as reported in the Consolidated Statements of Operations, to Adjusted EBITDA (includes the Crimson Transaction from February 1, 2021 to March 31, 2021):

Source: CorEnergy Infrastructure Trust, Inc.

CorEnergy Infrastructure Trust, Inc.
Investor Relations
Debbie Hagen or Matt Kreps
877-699-CORR (2677)
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• BOEM issues favorable Record of Decision for Vineyard Wind 1, the first commercial-scale offshore wind project in the U.S.
• 800 MW project to create thousands of jobs and cut carbon emissions by 1.6 million tons annually.
• Vineyard Wind to break ground in 2021 and begin delivering clean electricity to Massachusetts in 2023.

ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, confirmed today that the U.S. Bureau of Ocean Energy Management (BOEM) has issued its Record of Decision (ROD) for Vineyard Wind 1, an 800-megawatt project of AVANGRID joint venture Vineyard Wind. This final major federal approval will enable the beginning of construction activities on the first commercial-scale offshore wind project in the U.S. this year. The project represents the beginning of an energy transition in New England where clean power will be created by harnessing the region’s strong coastal winds.

“We are very excited and proud to be part of the birth of an incredibly important new industry for the U.S. Offshore wind is a key part of America’s clean energy future, and Vineyard Wind 1 is a major step forward to the clean and connected future we envision and work toward every day,” said Dennis V. Arriola, CEO of AVANGRID. “We appreciate the thorough review by BOEM as well as the considerable input from stakeholders, including 33,000 public comments and hundreds of hours of public hearings. The broad engagement from many parties throughout this process has improved the project and positioned both Vineyard Wind 1 and the broader offshore wind industry for long-term success.”

Located 15 miles off the coast of Martha’s Vineyard, Vineyard Wind 1 will provide enough electricity to power more than 400,000 homes and businesses in the Commonwealth of Massachusetts, create 3,600 Full Time Equivalent (FTE) job years, reduce electricity rates by $1.4 billion over the first 20 years of operation and is expected to reduce carbon emissions by more than 1.6 million metric tons per year.

AVANGRID, through its subsidiary Avangrid Renewables, is a leading developer of onshore wind and solar and is pioneering the development of offshore wind in the U.S. In addition to Vineyard Wind 1, Avangrid Renewables is a partner on Park City Wind, an 804 MW project that will serve the state of Connecticut, as well as additional lease areas off the coast of Massachusetts and Rhode Island to deliver up to 3,500 MW. In the mid-Atlantic, Avangrid Renewables is also developing Kitty Hawk Offshore Wind that has the potential to deliver 2,500 MW of clean energy into Virginia and North Carolina.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $38 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of 7.5 GWs of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by Forbes and Just Capital as one of the 2021 JUST 100 companies – a list of America’s best corporate citizens – and was ranked number one within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.

Media Contacts:

• Morgan Pitts
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• Susan Millerick
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WILLISTON, Vt.--(BUSINESS WIRE)--iSun, Inc. (NASDAQ: ISUN) (“iSun” or the “Company”), a leading solar energy and clean mobility infrastructure company with 50 years of construction experience in solar, electrical and data services, today announced that its Board of Directors has determined to postpone and reschedule the 2020 and 2021 Annual Meetings of Stockholders (“the Meetings”) which were scheduled to be held on May 11, 2021, due to delays in the process of printing and mailing the proxy materials to the Stockholders on a timely basis. The 2020 and 2021 Annual Meetings of Stockholders will now be held on Tuesday, May 25, 2021 beginning at 1:00 p.m (Eastern Time). In addition, the Company has received an extension from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) with respect to the holding of the Company’s 2020 Annual Meeting until May 25, 2021, and at this time remains in compliance with Nasdaq listing standards.

ABOUT iSUN

Headquartered in Williston, VT, iSun, Inc. (NASDAQ: ISUN) is a business rooted in values that align people, purpose, innovation, and sustainability. Ranked by Solar Power World as one of the leading commercial solar contractors in the United States, iSun provides solar energy and clean mobility infrastructure to customers for projects from smart solar mobile phone and electric vehicle charging, up to multi-megawatt renewable energy solutions. iSun’s innovations were recognized this year by the Solar Impulse Foundation of Bertrand Piccard as one the globe’s Top 1000 Sustainability Solutions. As a winner, this award will result in the iSun solution being presented to hundreds of government entities around the world, including various municipal, state and federal agencies in the United States. Since entering the renewable energy market in 2012, iSun has installed over 650 megawatts of rooftop, ground mount and EV carport solar systems (equal to power required for 123,500 homes). We continue to focus on profitable growth opportunities. For more information, visit www.isunenergy.com

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about (i) iSun’s plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts; and (ii) other statements identified by words such as “expects” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “targets,” “projects,” or words of similar meaning generally intended to identify forward-looking statements. These forward-looking statements are based upon the current beliefs and expectations of the respective management of iSun and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of iSun. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties.

INVESTOR CONTACT
Chase Jacobson
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802-264-2040

 It's time to take your power back Texans!

AUSTIN, Texas--(BUSINESS WIRE)--NATiVE Solar has partnered with KXAN’s Go Green initiative to share ways we all can help protect our environment. Our mission is to provide simple tips on how we can foster a healthier living environment in Central Texas and beyond.

Climate and Energy Reporting
Each month NATiVE Solar will join Kristen Currie as she features different topics that will help educate viewers on everyday actions they can do to reduce their carbon footprint. May’s topic is composting!

Studio 512 and Beyond
NATiVE Solar will also be featured each month in a segment on KXAN’s Studio 512 lifestyle show where we’ll dive deeper into renewable energy trends, the role of EV’s and Vehicle to Grid (V2G), green career pathways and even customer testimonials. You can also catch these PSA’s on KNVA and KBVO.

Though Go Green is specific to Central Texas, our impact reaches far beyond our local community. NATiVE Solar brings almost two decades of net zero home building, solar, storage and sustainable designs into our changing lifestyles.

Dedication to Solar Jobs and Our Community
In addition to the Go Green initiative, NATiVE Solar recognizes the need for construction workers and cultivates local programs with access to immediate jobs, apprenticeships, and technical certifications. Are you a former US veteran or simply looking for green career pathways? Are you interested in a virtual or onsite Town Hall?

Solar Austin and Alamo Colleges
In 2020, NATiVE partnered with Solar Austin to launch their Pathways to Clean Energy Careers Program and never looked back. This program focuses on diversity, equity and inclusion by recruiting women and students of color into the growing clean energy industry. In May we joined Alamo Colleges (San Antonio) to hire federal work-study students as PT employees with federal funds to supplement student wages.

Green Careers Dallas
NATiVE Solar’s Dallas team then partnered with a local non-profit to provide rooftop solar installation training for hard-to-employ individuals, such as those with a criminal record, or those looking for a job change. NATiVE will seek to expand this program to include sales training.

Solar Ready Vets Network
The Solar Foundation leads the Solar Ready Vets Network with funding from the US Department of Energy. This program connects military service members and veterans with career pathways in the rapidly growing solar industry. To stay current on resources and opportunities for veterans related to solar training and careers, please join the network at SolarReadyVeterans.org

NATiVE Town Hall
Are you tired of sifting through social media and “free solar” ads?
To demystify solar, NATiVE Solar has developed informational sessions to inform HOAs, communities and consumers about the reality and opportunities with renewable energy. Either virtual or onsite, local teams provide educational sessions to educate community members. This is a conscious effort to expand consumer knowledge and awareness of misinformation.

Stay Connected
Stay tuned in to your local KXAN channel to see NATiVE’s participation in the Go Green initiative. You can also visit NATiVE’s website to learn more about our community initiatives and going solar!

Local Energy. Global Impact.
NATiVE Solar is one of the longest running, most established Texas-owned and operated solar installation companies in the Lone Star State. Composed of a team of solar industry professionals with unrivaled skills & expertise, NATiVE Solar has earned its reputation as one of the best, most dependable, award-winning companies delivering intelligent, custom solar solutions in Texas.

Ryan Doty
Marketing and Communications
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855.253.6284

ALPHARETTA, Ga.--(BUSINESS WIRE)--Neenah Inc. (NYSE: NP), a leading global manufacturer of specialty materials today announced that its Whiting, Wisc., facility was one of 12 recipients of the 2021 Energy Efficiency Excellence Award from Focus on Energy®. Neenah’s Whiting facility earned the award for its energy management systems and efforts to continuously improve energy performance.

“Our commitment to being responsible environmental citizens is a fundamental tenant of our business practices and governance,” said Jon Waterman, Neenah Operating System Process Engineer. “Whether reducing our air emission and footprint or utilizing renewable energy resources, we continually look for ways to increase our efficiency and reduce consumption. We are honored to be recognized by Focus on Energy, and to receive the prestigious Energy Efficiency Excellence Award. It’s a fitting testament to our ongoing sustainability efforts and programs to protect our environment and the communities where we live and work.”

The Focus on Energy Awards recognize business participants of Focus on Energy, Wisconsin’s statewide energy efficiency and renewable resources program, who have demonstrated an outstanding commitment to reducing energy waste by implementing energy-saving upgrades in their facilities and operations.

"I am proud to recognize each of these recipients for their commitment to drive down Wisconsin’s carbon emissions and increase our annual energy savings," said PSC Chairperson, Rebecca Cameron Valcq.

Neenah’s Whiting facility was the only paper manufacturer among the 12 award recipients. Through waste stream reductions and heat energy efforts, including dryer hood and insulation improvements, the facility’s energy efficiency has increased by four percent and provided more than $1 million in energy cost savings. Additionally, the facility completed the Strategic Energy Management program, which helped them achieve ISO 50001 Ready status.

Neenah’s vision is to manufacturer growth for our employees, customers, end-users and shareholders. As a manufacturer, sustainability is at the heart of our business and critical for our long-term success. Learn more about our sustainability commitment and efforts in our 2021 Corporate Sustainability Report.

About Neenah, Inc.
Neenah is committed to manufacturing growth for its customers, end users, shareholders and employees. With manufacturing facilities in North America, Europe, the United Kingdom and Asia, we are a leading global manufacturer of specialty materials serving customers across six continents, with headquarters in Alpharetta, GA. We are focused on growing in filtration media, specialty coatings, custom-engineered materials and premium packaging. Our materials are found in a variety of products used every day, such as transportation and water filters, release liners, premium packaging of spirits, technology and beauty products, industrial labels, tapes and abrasives and digital printing for high-end apparel. To learn more, please visit www.neenah.com.

Missy Elam-Chavez
Director, Communications and Engagement
Neenah, Inc.
678.518.3263
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Sandra Jackson
Senior Manager, Communications and Engagement
Neenah, Inc.
678.938.3524
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