Brand announces 2030 Ambition goals centered around people and planet, supporting mission for every load of laundry to do a load of good

TORONTO--(BUSINESS WIRE)--Tide®, Canada’s #1 laundry detergent brand¹, announced today its 2030 Ambition, a set of broad-reaching sustainability and purpose-driven commitments, spanning Tide’s full United States and Canadian supply chain and community initiatives.

Tide is reinventing clean on its journey to decarbonize laundry at every step – from design, manufacturing and distribution to consumer use and end of life. To make this goal a reality, the brand will focus on key areas. In 2020, Tide reduced absolute greenhouse gas (GHG) emissions in its direct manufacturing by more than 75 per cent annually versus a decade ago and has set a new goal to cut GHG emissions in half at its direct manufacturing plants by 2030.

With over two-thirds of all GHG emissions in the laundry lifecycle resulting from the consumer use phase, Tide is focusing its efforts on minimizing energy use in the wash cycle. To this end, Tide is launching a significant educational campaign in spring 2021 to convince North American consumers to shift to cold water washing. The goal for three out of four loads of laundry in the United States and Canada to be washed in cold instead of hot by 2030 has the potential to reduce GHG emissions by 4.25 million metric tons (MT), which is equal to removing about one million cars from the road for a year. Over the decade (2020-2030), the total impact of this action would be a cumulative 27 million MT reduction in CO2.

Also, within the decade the brand will expand its Tide Loads of Hope program tenfold, providing clean clothes to millions of people in times of need, with a focus on communities most impacted by climate change as natural disasters continue to worsen.

Tide’s Ambition announcement builds on parent company Procter & Gamble’s own Ambition and stated path to climate neutrality, predicated on the belief that the next decade represents a critical window to accelerate climate action, with no time to waste.

“The climate emergency we face needs urgent action from everyone. Today, Tide announces a series of goals to decrease its carbon footprint across its full value chain,” said Shailesh Jejurikar, Chief Executive Officer, Fabric and Home Care, Procter & Gamble. “Tide’s ambition is to make cold water washing the industry standard. Over two thirds of the emissions in the laundry lifecycle come from washing clothes at home. Switching from hot to cold water reduces energy use by up to 90 per cent and can save Canadians up to $130 a year. Today we’re building on Tide’s 75 years of innovation to make every Tide load of laundry do a load of good.”

Better for Planet

Tide’s journey to decarbonize laundry includes a goal to reduce GHG emissions across the entire laundry lifecycle.

Today, Tide manufacturing plants use 100 per cent renewable electricity. Tide will advance its GHG emissions reduction goal through a pilot development project with Opus12, a Silicon Valley start-up at the forefront of carbon transformation, to explore the company’s carbon capture and utilization technology to incorporate CO2 Made^TM ingredients in the manufacturing of Tide.

Tide will also zero in on an ambitious long-term mission to make cold water washing the industry standard in the U.S. and Canada, compared to today’s baseline, which sees on average less than half of laundry loads washed on cold. Switching from hot to cold water reduces energy use in the wash phase by up to 90% and can save Canadian consumers up to $130 a year.

“Ensuring a sustainable world for future generations requires leading brands to take a comprehensive approach to reducing their environmental impact while also taking action that goes beyond their own footprint,” said Sheila Bonini, SVP of Private Sector Engagement World Wildlife Fund. “Brands have a unique opportunity to collaborate and communicate with millions of consumers at home to help educate and motivate people to make simple changes that add up to meaningful change for our planet.”

Behavior change at this scale will require significant investment, as well as collaboration across the industry. To advance that goal, Tide will launch a “turn to cold water” consumer education campaign in the coming weeks, showing that the bargain brand in hot can’t beat Tide in cold² and educating consumers on how cold water wash saves money and energy.

Other actions to reduce the brand’s overall carbon footprint by 2030 include reducing use of virgin plastic in packaging by half (vs. 2020 baseline), through light weighting, exploring innovative packaging solutions like Eco-Box, and increasing use of post-consumer recycled content. Currently, Tide bottles use at least 25 per cent post-consumer recycled content. At the same time, Tide has pledged 100% recyclable packaging for all products by 2030.

Tide’s focus on environmental footprint goes beyond packaging to the product itself. The safety of Tide formulas as it relates to environmental and human health will remain a top priority, building on Tide’s history of going beyond regulatory compliance to ensure ingredient safety and supporting efforts alongside P&G to enact ingredient disclosure policies.

Finding water efficiencies will also be top of mind, as Tide aims to reduce water use at plants by 40 per cent (by 2030 vs. 2010 baseline), while continuously evolving products to use less water in both formula and wash cycle.

Tide’s actions today are the latest in its 75-year history devoted to deliver a better clean for people and planet. It’s a never-ending journey which, to date, has seen several notable milestones, including a Tide-led coalition to introduce a recycling system for coloured plastics in the 1980s, the introduction of low-water Tide Pods and low-sudsing formulas, the innovation of Eco-Box, made with up to 75 per cent less packaging than traditional bottles, and the development of a cold water formula that’s been incorporated across the Tide portfolio.

Better for People

As Tide looks toward the future for a healthier planet, it remains committed to keeping the communities it serves at the heart of the brand, particularly those affected by climate change.

For fifteen years, Tide Loads of Hope has provided renewed hope and optimism through the basic comfort of clean clothing in the wake of natural disaster. Now, the brand is seeking to build on that history, helping millions of people in times of need by expanding its Tide Loads of Hope program tenfold.

Since 2005, in partnership with Matthew: 25 Ministries, Tide has helped more than 90,000 families across the U.S. and Canada through its Tide Loads of Hope program, bringing a free, mobile laundromat to communities affected by natural disasters. In 2020, Tide grew the Loads of Hope program to provide COVID-19 relief by supporting Food Banks Canada with over $600,000 in product and monetary donations. Tide has also partnered with CanadaHelps to create the Loads of Hope Fund, which will look for more ways to bring hope and optimism to people in need.

For more information about Tide Ambition, visit www.tide.com/en-us/our-commitment/a-load-of-good

¹ Based on laundry detergent sales volume over the past year (Source: Nielsen)
² Leading baking soda 2-in-1 Pak in hot vs. Tide Power Pods in cold

About Procter & Gamble

P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands. For other P&G news, visit us at www.pg.com/news.

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• The French defence procurement agency (DGA) has awarded Thales a contract to develop, qualify and manufacture the SonoFlash air-droppable sonobuoy.
• Complementing the other anti-submarine warfare systems in service with the French Navy, this new-generation sonobuoy is a strategic asset that allows France to have a sovereign solution in high-performance sonobuoys.
• Manufactured in France with local SMEs, the SonoFlash buoyfeatures an innovative design and advanced technology to bring naval aviation units best-in-class performance.

PARIS--(BUSINESS WIRE)--The French Navy has selected the SonoFlash new-generation sonobuoy from Thales. Unveiled at the Euronaval show in October 2018, SonoFlash will enable France to reach its strategic capability goal for acoustic sensors.

The threat posed by submarines is evolving rapidly. Three decades ago, only the superpowers had a true undersea warfare capability, but numerous countries now deploy modern submarine fleets. At the same time, forces increasingly operate in littoral waters, which are much more complex for sonar systems, rather than in the relative certainty of open-ocean environments.

Responding to this evolving threat environment, Thales developed the SonoFlash buoy, a new-generation sonobuoy with an unequalled performance-to-mass ratio that builds on decades of expertise in sonars and acoustic sensors to offer an ambitious new solution.

Its innovative design and advanced technology include a number of key features to deliver unrivalled performance. Today's sonobuoys are either passive or active. By contrast, the SonoFlash buoy offers the best of both modes, combining a powerful, optimised low-frequency transmitter with a high-directivity passive receiver. With the combination of these two capabilities, and the added advantage of long endurance, the SonoFlash buoy is suitable for a wide array of deployment scenarios.

Fully compatible with the other families of Thales sonars, the SonoFlash buoy offers high tactical flexibility and opens up promising new opportunities for multistatic operation. Coupled with the FLASH dipping sonar, for example, the SonoFlash buoy enables an aircraft to expand its coverage area and respond with greater agility to evasive manoeuvres by a submarine. Thanks to its digitised signal and optimal communication range, the SonoFlash buoy data can be readily exploited by any piloted or remotely piloted aircraft, naval vessel or shore centre equipped with a sonobuoy processing system.

The French Navy will be the first operational user of the SonoFlash buoy, which will be deployed by the modernised Atlantique 2 maritime patrol aircraft and NH90 Caiman tactical transport helicopters. It will be delivered to the Navy from 2025 and could be available in export markets to equip all modern maritime patrol aircraft and helicopters as well as all types of unmanned platforms, including autonomous surface vehicles and rotary-wing (VTOL) and fixed-wing UAVs equipped with a suitable multi-sonobuoy dispenser.

Manufactured in France with a network of SMEs such as TELERAD, SelhaGroup and Realmeca, the SonoFlash buoy relies on Thales’s expertise in acoustic sensor technology to contribute to France’s desire for independence in strategic industries.

“Thales has packed 10 years of innovation in hardware and digital technologies into a tube measuring 91.4 cm long and 12.3 cm in diameter. SonoFlash extends the range of a naval force's anti-submarine warfare operations, outclassing all other sonobuoys in the market today and offering a versatile and easy-to-deploy solution for tracking submarines from any piloted or remotely piloted aircraft, frigate or unmanned surface vehicle. We are grateful to the DGA and the Navy for the trust they have placed in us and delighted to be working with French partner SMEs to bring this project to a successful conclusion and restore France's sovereign capabilities in sonobuoys.” Alexis Morel, VP Underwater Systems, Thales.

About Thales

Thales (Euronext Paris: HO) is a global leader in advanced technologies, investing in digital and “deep tech” innovations – connectivity, big data, artificial intelligence, cybersecurity and quantum computing – to build a confident future crucial for the development of our societies. The Group provides its customers – businesses, organisations and governments – in the defense, aeronautics, space, transport, and digital identity and security domains with solutions, services and products that help them fulfil their critical role, consideration for the individual being the driving force behind all decisions.

Thales has 81,000 employees in 68 countries. In 2020 the Group generated sales of €17 billion.

Thales, Media Relations
Land and Naval Defence
Faïza Zaroual
+33 (0)7 64 25 99 31
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Enegix commissions Black & Veatch studies for 600 million kg/pa green hydrogen generation facility in Ceará, Brazil

OVERLAND PARK, Kan,--(BUSINESS WIRE)--Black & Veatch will undertake feasibility studies central to the development of the world’s largest green hydrogen plant. When operational, Enegix Energy’s Base One facility in Ceará, Brazil, will produce more than 600 million kilogrammes of green hydrogen annually.

The highly ambitious new-build electrolysis facility will be powered entirely by renewable energy, initially 3.4 gigawatts of solar and onshore wind. Ceará’s potential for renewable energy generation, coupled with access to a strategic deep-sea port to facilitate the export of hydrogen, were key to the choice of the scoped 500-hectare site for the US$ 5.4 billion investment.

Enegix Energy has signed a memorandum of understanding (MoU) with Black & Veatch for the delivery of feasibility studies key to advancing the green hydrogen plant’s creation. “Hydrogen project developers and investors need confidence in the quality of the advice they receive. The most complete analysis will come from partners with expertise in hydrogen, renewable energy generation, and the complex interfaces between them that define projects like Base One,” said Gary Martin, a Managing Director with Black & Veatch’s Oil & Gas business. “Facilities such as the one proposed by Enegix are at the heart of making hydrogen a core component of a zero-carbon global economy; and our integrated approach places us in a unique position to contribute.”

Hydrogen has the potential to reduce and replace reliance on fossil fuels for electricity generation and storage, heating, transport, production of green chemicals and fertilizer. Across the globe Black & Veatch is engaged in developing, designing and constructing decarbonization solutions that fulfil these objectives.

“Black & Veatch’s team has the capability to assess all aspects of the project, with transferable skills that cover hydrogen production, handling, transportation, storage and distribution; following the highest standards for safety and efficiency. Black & Veatch is well-positioned to provide these type of services, contributing to the transition of fossil fuels to hydrogen,” said Wesley Cooke, Enegix Founder and CEO.

“As well as new-build undertakings like our MoU with Enegix Energy, Black & Veatch’s reputation for execution certainty means we are supporting many projects to adapt existing power and process infrastructure for a role in the hydrogen economy,” Martin added. “In a US first, for example, we are working with Long Ridge Energy Generation to retrofit a 485-megawatt (MW) combined-cycle power plant making it the nation’s first large gas turbine plant to transition operations to hydrogen fuel.”

In January 2021, reflecting its ongoing commitment to decarbonization and further advancing efforts to create a more balanced energy portfolio, Black & Veatch joined the Hydrogen Council – a global initiative of leading energy, transport and industry organizations with a vision for hydrogen’s ability to foster the energy transition.

Editor’s Notes:

• Base One will be located in Ceará, northeast Brazil, and will provide a strategic location for Enegix’s renewable hydrogen production with direct access to international markets via ocean freight.
• Base One is anticipated to take three to four years to build.

• In late 2020 Black & Veatch and Golar LNG announced the expansion of their long-standing collaboration, focusing on broadening floating production of blue and green hydrogen and ammonia.
• The Intermountain Power Agency also selected Black & Veatch as Owner’s Engineer in 2020 for its Intermountain Power Project Renewal Project, one of the earliest installations of combustion turbine technology designed to use a high percentage of green hydrogen.

About Black & Veatch
Black & Veatch is an employee-owned 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 in over 100 countries by addressing the resilience and reliability of our world's most important infrastructure assets. Our revenues in 2019 were US$3.7 billion. Follow us on www.bv.com and on social media.

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Aetna’s expertise working with retail, hospitality and grocery sectors will help make EV charging more accessible and readily available to a wide range of drivers

LIBERTYVILLE, Ill. & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Electrical services and energy solutions provider Aetna Corp. and global electric vehicle charging solutions company EVBox Group today announced a strategic partnership to help grow EV charging infrastructure in the United States, with a focus on New England and the Mid-Atlantic states — an area Aetna Corp. has served for more than 90 years. Aetna’s expertise in serving retail, hospitality and grocery establishments is expected to play a key role in delivering EV charging to drivers in the places they visit most.

“There has never been a better time for businesses to invest in EV charging, and we are pleased we can now offer EVBox charging solutions to our customers. The electric vehicle industry is growing at a rate of 40% year-over-year. Favorable government policies and support through tax credits, utility rebates and incentives make it more affordable than ever. Companies can help accelerate society’s shift to a cleaner mobility future while also realizing business benefits, such as increased traffic and revenue.” – Chris Angelou, vice president of sales and marketing at Aetna Corp.

While Aetna Corp. has been offering EV charging services since 2017, it is adding EVBox Group to its offerings because of the company’s flexible and scalable approach and the fact that all EVBox products are Open Charge Point Protocol (OCPP) compliant. This allows Aetna Corp. to build customized charging options for its customers and ensure the hardware it sells is future-proof. EVBox Group’s wide range of AC and fast-charging DC hardware options means there is an EV charging solution for every need.

“Aetna Corp.’s expertise in retail and hospitality segments, together with its long history of serving the New England and Mid-Atlantic regions, has the potential to expand and deliver EV charging to tens of thousands more drivers each year. By prioritizing charging solutions with open standards, they are also giving business owners the confidence they need to meet the nation’s rising demand for accessible and readily-available EV charging.” – Kristof Vereenooghe, CEO of EVBox Group.

Aetna Corp. believes retailers and hospitality companies that have already installed EV charging are enjoying the benefits of attracting new customers and as a result, increasing sales. EV charging also helps their customers establish sustainability leadership and stand out from their competition.

In addition to its regional focus, Aetna Corp. offers EV charging services at a national level through its network of installers and provides solutions beyond retail and hospitality for workplace, fleets, multi-family and municipality sectors. The company will also support EVBox Group and its customers by serving as a Field Service partner, performing preventive and corrective maintenance on EVBox stations from Maine to Virginia.

Aetna Corp.’s extensive network of local technicians and energy services experts are available to help businesses plan for their EV futures so they can welcome more customers looking to charge up throughout their day. Companies can schedule a consultation by visiting the Aetna Corp. website. To learn more about EVBox charging solutions, visit www.EVBox.com.

About Aetna Corp.

Aetna Corp. is a national electrical services and energy solutions provider headquartered in Cambridge, Massachusetts. Its forward-thinking perspective combined with over 90 years of experience makes Aetna Corp. one of the most reputable companies in the industry. Aetna Corp. provides turnkey EV charging, efficient interior and exterior lighting solutions, electrical construction and specialty project services. Visit www.aetnacorp.com to learn more.

About EVBox Group

Founded in 2010, EVBox Group empowers forward-thinking businesses to build a sustainable future by providing flexible and scalable electric vehicle charging solutions. With its extensive portfolio of commercial and ultra-fast EVBox charging stations, as well as scalable charging management software engineered by Everon, EVBox Group ensures that electric mobility is accessible to everyone.

EVBox Group is a leader in R&D, with facilities across Europe and North America developing groundbreaking electric vehicle charging technology. With offices across the globe, including Amsterdam, Bordeaux, Munich and Chicago, and strong foundations in dozens of markets, EVBox Group is working to shape a sustainable future of transportation.

In 2021, EVBox Group will become a public company listed on the New York Stock Exchange via a business combination with TPG Pace Beneficial Finance (NYSE: TPGY) and initial investors BlackRock, Inclusive Capital, Neuberger Berman Funds, and Wellington Management. Visit www.EVBox.com to learn more.

EVBox Group Contacts

Investors:
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EVBox:
Job Karstens
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Madeline Vidak
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TORONTO--(BUSINESS WIRE)--Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (OTCQX: LGORD) is pleased to announce that the Company’s Board of Directors (the “Board”) has approved the construction of a new ilmenite concentration plant.

Commercial production from the new plant is expected early in 2023 and the plant's capacity will be approximately 150,000 tonnes of ilmenite concentrate per annum. The Company started an ilmenite pilot plant in October 2019. Based on the promising results, the Board approved construction of a full-scale plant. The advanced engineering and construction of the ilmenite concentration plant is expected to cost approximately US$25.2 million with the majority of these costs being incurred in 2022. The Company is also further evaluating the potential to produce titanium dioxide pigment as a possible follow-on product.

Paulo Misk, President and Chief Executive Officer of Largo, stated: “The approval of our new ilmenite concentration plant is another step to increase and diversify our revenues. As we work to complete this project, we will also continue to explore the feasibility of extracting additional value from the Company’s mineral resource.”

About Largo Resources

Largo Resources is an industry preferred, vertically integrated vanadium company. It services multiple vanadium market applications through the supply of its unrivaled VPURE™ and VPURE+™ products, from one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine located in Brazil. Largo is also focused on the advancement of renewable energy storage solutions through its world-class VCHARGE± vanadium redox flow battery technology. The Company's common shares are listed on the Toronto Stock Exchange under the symbol "LGO".

For more information on Largo and VPURE™, please visit www.largoresources.com and www.largoVPURE.com.

For additional information on Largo Clean Energy, please visit www.largocleanenergy.com.

Forward-looking Information:

This press release contains forward-looking information under Canadian securities legislation, some of which may be considered "financial outlook" for the purposes of application Canadian securities legislation ("forward-looking statements"). Forward‐looking information in this press release includes, but is not limited to, statements with respect to the timing and amount of estimated future production and sales; costs of future activities and operations; the extent of capital and operating expenditures; the iron ore price environment, the timing and cost related to the build out of the ilmenite plan, eventual production from the ilmenite plant, the ability to sell ilmenite on a profitable basis and the extent and overall impact of the COVID-19 pandemic in Brazil and globally. Forward‐looking information in this press release also includes, but is not limited to, statements with respect to our ability to build, finance and operate a VRFB business, our ability to complete a listing on the Nasdaq, our ability to protect and develop our technology, our ability to maintain our IP, our ability to market and sell our VCHARGE± battery system on specification and at a competitive price, our ability to secure the required production resources to build our VCHARGE± battery system, our ability to produce iron ore and the adoption of VFRB technology generally in the market. Forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Largo or Largo Clean Energy to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on SEDAR from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo's annual and interim MD&As which also apply.

Investor Relations:
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Media Enquiries:
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THE WOODLANDS, Texas--(BUSINESS WIRE)--NorthStar HoldCo Energy, LLC ("NorthStar"), a portfolio company of funds managed by Oaktree Capital Management, L.P. (“Oaktree”), is pleased to report that the expansion of JAX LNG and the construction of the 5,400 cubic meter LNG articulated tug barge unit ("ATB"), Clean Canaveral, continue as expected towards being in service by Q4 2021. In addition, NorthStar recently closed on a $137 million debt financing facility to support these LNG expansions.

NorthStar and its partner at JAX LNG, Pivotal LNG, a subsidiary of BHE GT&S, are tripling the facility’s production capability to 360,000 gallons per day and doubling LNG storage capacity to four million gallons. The JAX LNG facility has been in service since the fourth quarter of 2018 and, through its integrated LNG marine loading dock, JAX LNG has safely completed more than 150 deliveries of LNG to the Clean Jacksonville bunker barge. JAX LNG has also been servicing additional customers in the shipping, over-the-road trucking and aerospace segments.

“With the excellent support we have from our construction contractors, we are excited to commence our expanded operations, particularly for our new anchor customer beginning its LNG-powered voyages in 2022,” said Tim Casey Senior Vice President – LNG for NorthStar. “The expansion of JAX LNG and the construction of the Clean Canaveral will allow us to supply our existing customers, take on new customers and deliver LNG to points anywhere from Savannah, Georgia to Miami, Florida. The market for LNG as a bunker fuel is accelerating as more LNG powered ships are put into service. JAX LNG and Polaris New Energy are prepared to support the shipping industry’s important effort to reduce its carbon footprint by using LNG, an environmentally friendly fuel that can reduce greenhouse gas emissions by over 20 percent.”

Last week, NorthStar, through a newly formed entity, Seaside LNG Holdings, LLC, closed on a $137 million debt financing facility supporting its interest in JAX LNG and Polaris New Energy. Proceeds from the financing will be used to fund construction of the JAX LNG expansion and the ATB.

“We are pleased to have the project finance community support our growth. Our lenders recognize the critical importance of LNG in the maritime sector and share in NorthStar’s excitement as a first-mover in LNG bunkering domestically. The financing facility provides the flexibility to stay at the forefront of these segments as we look toward future growth opportunities,” explained Matt McKenzie, Senior Vice President – Finance and Administration of NorthStar.

About JAX LNG

JAX LNG, LLC is a joint venture between NorthStar Midstream and Pivotal LNG, a subsidiary of BHE GT&S, currently operating a 120,000 gallon per day LNG plant with two million gallons of storage in Jacksonville, Florida. The LNG facility was constructed to bring liquefied natural gas to the southeast U.S. and Puerto Rico. For more information on JAX LNG, visit www.jaxlng.com

About Polaris New Energy

Polaris New Energy is a wholly owned subsidiary of NorthStar formed to supply marine transportation logistics to the growing demand for marine transportation of LNG in the U.S. Jones Act market. For more information, visit www.polarisnewenergy.com

About NorthStar

NorthStar is a diversified logistics company providing flexible crude oil, sand and LNG services, including storage and transportation solutions, to the North American energy industry. NorthStar’s assets include a 375-acre crude oil and sand logistics transloading and transportation terminal with 500,000 barrels of crude storage and over 23 tons of sand storage located in East Fairview, North Dakota, a crude oil terminal with 160,000 barrels of crude storage located in Alexander, North Dakota, a FERC-regulated crude oil pipeline located in McKenzie County, North Dakota providing access to the Dakota Access Pipeline via the terminals in East Fairview and Alexander, and an LNG production facility, marine loading dock and LNG barging operation in Jacksonville, Florida. For more information, visit www.northstarmidstream.com

About Pivotal LNG

Pivotal LNG, Inc. (Pivotal LNG) is a wholly-owned subsidiary of BHE GT&S, a Berkshire Hathaway Energy company, with more than forty years of experience providing clean, alternative energy solutions to industries throughout the United States – from power generation and manufacturing to marine transportation and heavy-duty trucking. With liquefied natural gas production, transportation and delivery capabilities, the company offers a number of reliable, flexible, and cost-effective solutions. Pivotal LNG owns and operates the Trussville LNG facility in Alabama and has 50% ownership of the JAX LNG facility in Florida. Pivotal LNG’s affiliate owns and operates the Towanda Facility in Bradford County, Pennsylvania. Visit www.pivotallng.com for more information on Pivotal LNG.

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $148 billion in assets under management as of December 31, 2020. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.

Tim Casey
(713) 244-5992
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• Unmanned submersible autonomously gathers underwater data in Lake Travis test
• Led by former Navy SEALs, Terradepth combines machine learning, edge computing and novel energy recharge technology to collect data at scale
• Attains measurable, important progress towards long-term vision of increasing ocean knowledge for science and humanity

AUSTIN, Texas--(BUSINESS WIRE)--#AI--Terradepth, a disruptor in maritime data collection and use, today announced the successful completion of its Phase 1 trials. The test was executed at Lake Travis in Travis County, Texas. The Phase 1 test results conclusively demonstrate that the company’s unmanned submersible could collect and process underwater data, understand features of import, and automatically retask itself with no human intervention.

Terradepth’s mission is to increase ocean knowledge through autonomous, high-resolution, scalable data collection and a radically improved data experience. The company is applying autonomous robotics, AI/ML, and the latest software concepts and methodologies to create the world's first deep ocean data-as-a-service business.

The initial trial is one of multiple tests that will prove out Terradepth’s hybrid ocean data collection submersible, which will operate autonomously to collect an ocean data repository of unprecedented scale.

• “Deep ocean data promises to enlighten and advance us on everything from the understanding of flora and fauna to weather to how the world works,” said Judson Kauffman, co-founder and co-CEO of Terradepth.Succeeded in the overall mission of demonstrating basic, end-to-end in situ automated data processing in a known submerged environment;
• Ran a proprietary machine learning model algorithm on the robot to autonomously detect objects of interest;
• Proved Terradepth’s proprietary data extraction capability for preparing sonar data for onboard processing;
• Created and demonstrated an end-to-end autonomous onboard data processing pipeline to enable automatic target recognition and follow-on autonomous retasking - removing the human from the data interpretation and retasking functions;
• Test parameters:
  • Functionality of computing hardware inside a pressure vessel mounted inside the robot, submerged in water;
  • End-to-end functionality of the data processing pipeline on the robot;
  • Capability of the data processing pipeline to send “snippets” of information to humans for quality assurance and objects of interest;
  • Accuracy of the machine learning model’s inferences contrasted with known subsurface objects of interest.

“The success of our first trial is an important first step towards democratizing ocean data, and is another important step toward our goal of sharing information that can help to conserve and protect 98.5% of Earth’s livable space — the ocean,” said Joe Wolfel, co-founder and co-CEO at Terradepth.

About Terradepth
Terradepth is enabling a holistic reasoning of the Earth for the first time in human history. By making high-resolution undersea information accessible to a diverse stakeholder base, Terradepth is driving human connection with the ocean through greater understanding. From environmental decisions to new medical treatments, Terradepth's combination of subsea drones and its Virtual Ocean are changing our relationship to the ocean for good. To learn more, visit Terradepth.com.

Sarah Frankoff
Treble
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WASHINGTON--(BUSINESS WIRE)--#energy--U.S. government leaders recently joined the National Association of Energy Service Companies (NAESCO) for its annual Federal Market Workshop to make one thing clear: there is a wealth of opportunity for Energy Services Companies (ESCOs) to leverage energy savings performance contracts (ESPCs) to support the Biden-Harris administration’s pursuit of net-zero greenhouse gas (GHG) emissions economy-wide by 2050.

Richard G. Kidd IV, the Deputy Assistant Secretary of Defense for Environment & Energy Resilience, underscored the pervasiveness of the administration’s climate priorities on the first day of the workshop stating, “the DoD is treating the climate crisis as a national security priority, and we anticipate an increase in funding for more complex projects that bring together private and public sectors focusing on resilience.”

Proven pathways towards achieving these goals include retrofitting, upgrading and otherwise adapting the nation’s aging public building infrastructure to meet target energy efficiency, emissions and resilience performance outcomes.

“We host this event every year to better equip our federal partners with the tools, resources, and information they need to achieve our shared climate and resiliency goals. But this year is arguably the most important,” said NAESCO Executive Director Dr. Timothy D. Unruh. “Investment in our aging public infrastructure should be a priority as we emerge from the pandemic and fully reopen facilities. With the new administration’s focus on climate change, it’s crucial federal agencies continue to partner with ESCOs through ESPCs to work towards upgrading our mission-critical facilities for a more sustainable, resilient future.”

President of the Alliance to Save Energy Paula R. Glover echoed these comments stating, “There’s a broad consensus that critical facilities are clearly past due for investment. The 2021 Open Back Better Act, a provision of the recent climate package introduced by House Democrats, will fulfill that obvious need for investment by delivering billions of dollars in federal funding to retrofit public facilities to make them more resilient and energy efficient. The federal funding will be matched with performance contracting and other financing mechanisms to leverage almost $100 billion in private investment.”

Kelly Speakes-Backman, Acting Assistant Secretary for Energy Efficiency and Renewable Energy (EERE) at the U.S. Department of Energy (DOE) disclosed that EERE’s clean energy programs will need to benefit all Americans and American jobs.

“Our focus is building back better after the pandemic and creating jobs and economic activity is of the utmost importance,” said Speakes-Backman. “Additionally, we need to make investments in ensuring our energy system is equitable. Right now, minority communities feel the impacts of pollution and climate change the hardest, and lower income households face the highest-energy burden. Our programs will work to ensure all Americans have access to new technologies and a brighter, cleaner future.”

During the three-day virtual conference, prominent federal officials tasked with setting and implementing federal energy efficiency and infrastructure improvement measures discussed their respective organization’s energy efficiency priorities and continued efforts to meet climate goals. A full list of the 2021 Federal Market Workshop speakers includes:

• Kelly Speakes-Backman, Acting Assistant Secretary for Energy Efficiency and Renewable Energy, U.S. Department of Energy
• Paula R. Glover, President, Alliance to Save Energy
• Richard G. Kidd IV, Deputy Assistant Secretary of Defense for Environment & Energy Resilience
• J.E. "Jack" Surash, Acting Deputy Assistant Secretary for Energy & Sustainability, Department of the Army
• James Balocki, Deputy Assistant Secretary, Installations and Facilities, Department of the Navy
• Mark A. Correll, Deputy Assistant Secretary for Environment, Safety & Infrastructure, Department of the Air Force
• Leslie Nicholls, Director, Federal Energy Management Program, Department of Energy
• Catherine Johnson, Performance Contracting Team Lead, Energy Management Program Service, Department of Veterans Affairs
• Kevin Kampschroer, Director, Office of Federal High-Performance Buildings, General Services Administration

Learn more about NAESCO’s 2021 Federal Market Workshop by visiting www.naesco.org/past-events. And for more about NAESCO, its members, membership benefits and accreditation process at www.naesco.org and follow NAESCO on Twitter (@NaescoNews) and LinkedIn (@naesco).

About NAESCO

The National Association of Energy Service Companies (NAESCO) is the leading advocacy and accreditation organization for Energy Service Companies (ESCOs) and is dedicated to modernizing America’s building infrastructure through performance contracting. Uniting the energy service industry, NAESCO promotes favorable government policies; sponsors a rigorous accreditation program; provides training and education; and champions the interests of ESCOs across the nation.

ESCOs contract with private and public sector energy users to provide cost-effective energy efficiency retrofits across a wide spectrum of client facilities, from college campuses to water treatment plants. Effectively utilizing a performance-based contract business model, ESCOs have implemented more than $50 billion in comprehensive energy efficiency retrofit projects over the last three decades.

Amanda Jada
+1 (813) 808-0736
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HOUSTON--(BUSINESS WIRE)--$NEXT #carboncapture--NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) announced today that it has agreed to sell $24.5 million of Series C Convertible Preferred Stock (Series C Preferred Stock). The Series C Preferred Stock is being issued in a private placement to funds managed by York Capital Management, Avenue Capital Group, and Bardin Hill Investment Partners. NextDecade intends to use proceeds to finalize commercial agreements needed to achieve a final investment decision on Rio Grande LNG in 2021, to advance the work of its NEXT Carbon Solutions business, including developing one of the largest carbon capture and storage (CCS) projects in North America to reduce greenhouse gas emissions at Rio Grande LNG, and for general corporate purposes.

“NextDecade is pleased to solidify its balance sheet with additional development capital from existing and new institutional investors as we progress to an expected FID at Rio Grande LNG in 2021,” Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “This preferred equity capital raise coincides with the formation of NEXT Carbon Solutions and affirms NextDecade’s leadership in efforts to reduce global greenhouse gas emissions. This capital will facilitate the advancement and realization of transformative and impactful contributions that NEXT Carbon Solutions expects to make to the global energy industry and the quest toward a net-zero future.”

The offer and sale of the Series C Preferred Stock has not been, and will not be, registered under the Securities Act of 1933 (Securities Act), or any other securities laws, and the Series C Preferred Stock cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About NextDecade Corporation

NextDecade Corporation (NextDecade) is committed to providing the world access to cleaner energy. NextDecade, through its wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, is developing a 27 mtpa LNG export facility in South Texas along with one of the largest carbon capture and storage projects in North America. The Rio Grande LNG facility is expected to be the largest and greenest U.S. LNG export solution linking Permian Basin and Eagle Ford Shale natural gas to the global LNG market. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, visit www.next-decade.com.

NextDecade Forward-Looking Information

This press release contains forward-looking statements within the meaning of U.S. federal securities laws including, in particular, statements about the Company’s private placement of Series C Preferred Stock and the use of proceeds thereof. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design” and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on NextDecade’s current assumptions, expectations, and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include uncertainties about progress in the development of NextDecade’s LNG liquefaction and export projects and the timing of that progress; NextDecade’s final investment decision (“FID”) in the construction and operation of a LNG terminal at the Port of Brownsville in southern Texas (the “Terminal”) and the timing of that decision; the successful completion of the Terminal by third-party contractors and an approximately 137-mile pipeline to supply gas to the Terminal being developed by a third-party; NextDecade’s ability to secure additional debt and equity financing in the future to complete the Terminal; the accuracy of estimated costs for the Terminal; statements that the Terminal, when completed, will have certain characteristics, including amounts of liquefaction capacities; the development risks, operational hazards, regulatory approvals applicable to the Terminal’s and the third-party pipeline's construction and operations activities; NextDecade’s anticipated competitive advantage and technological innovation which may render its anticipated competitive advantage obsolete; the global demand for and price of natural gas (versus the price of imported LNG); the availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG industry, including environmental laws and regulations that impose significant compliance costs and liabilities; NextDecade’s ability to develop and implement carbon capture and storage or similar technology to reduce anticipated carbon emissions from the Terminal; the 2019 novel coronavirus pandemic and its impact on NextDecade’s business and operating results, including any disruptions in NextDecade’s operations or development of the Terminal and the health and safety of NextDecade’s employees, and on NextDecade’s customers, the global economy and the demand for LNG; risks related to doing business in and having counterparties in foreign countries; NextDecade’s ability to maintain the listing of its securities on a securities exchange or quotation medium; changes adversely affecting the business in which NextDecade is engaged; management of growth; general economic conditions; NextDecade’s ability to generate cash; compliance with environmental laws and regulations; the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s Annual Report on Form 10-K for the year ended December 31, 2019 and other subsequent reports filed with the Securities and Exchange Commission, all of which are incorporated herein by reference. Additionally, any development of the Terminal remains contingent upon completing required commercial agreements, acquiring all necessary permits and approval, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.

Patrick Hughes
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+1 (832) 209-8131

NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) announced today that it has entered into an agreement to sell its subsidiary Hess Denmark ApS, which holds a 61.5% interest in the South Arne Field, to Ineos E&P AS for a total consideration of $150 million, effective January 1, 2021.

“The sale of our Denmark asset enables us to further focus our portfolio and strengthen our cash and liquidity position,” CEO John Hess said. “Proceeds will be used to fund our world class investment opportunity in Guyana.”

The South Arne Field produced an average of 5,800 barrels of oil equivalent per day net to Hess in the fourth quarter of 2020.

The sale is expected to close in the third quarter of 2021, subject to government approvals and customary closing conditions.

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

Cautionary Statements

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. These forward-looking statements may include, without limitation, the expected timing and completion of the proposed sale and use of proceeds. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements: the ability of our contractual counterparties to satisfy their obligations to us, the ability to satisfy the conditions to the proposed sale; contract and other laws, regulations and governmental actions applicable to our business; and other factors described in the Risk Factor section in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and any additional risks described in our other filings with the Securities and Exchange Commission. As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

Investor Contact:
Jay Wilson
(212) 536-8940
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Media Contact:
Lorrie Hecker
(212) 536-8250
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Rio Grande LNG Expected to be the Greenest LNG Project in the World

HOUSTON--(BUSINESS WIRE)--$NEXT #carboncapture--NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) announced the formation of NEXT Carbon Solutions, LLC (NEXT Carbon Solutions), a wholly owned subsidiary of NextDecade that is expected to:

• develop one of the largest carbon capture and storage (CCS) projects in North America at NextDecade’s Rio Grande LNG project;
• advance proprietary processes to lower the cost of utilizing CCS technology;
• help other energy companies to reduce their greenhouse gas (GHG) emissions associated with the production, transportation, and use of natural gas; and
• generate high-quality, verifiable carbon offsets to support companies in their efforts to achieve net-zero emissions.

NEXT Carbon Solutions’ CCS project is expected to reduce permitted CO₂ emissions at Rio Grande LNG by more than 90 percent without major design changes to the Rio Grande LNG project. As a result, Rio Grande LNG is expected to be the greenest LNG project in the world.

“Efforts to reduce global greenhouse gas emissions are at the very foundation of our company,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “The launch of NEXT Carbon Solutions comes at a pivotal time for our nation and the world, and we are eager to demonstrate the transformative and impactful contributions this business will make to the global energy industry and the quest toward a net-zero future.”

CCS Project

NEXT Carbon Solutions’ CCS project at Rio Grande LNG is expected to enable the capture and permanent geologic storage of more than five million tonnes of CO₂ per year. NEXT Carbon Solutions believes that developing the CCS project at the same time as the Rio Grande LNG project will result in 60-80 percent less capital costs than retrofitting an operating LNG facility.

All-in costs of the CCS project, including capital and operating expenses, interest, transportation, and permanent storage, are expected to be $63 to $74 per metric tonne of CO₂ before any benefit from Section 45Q tax credits. Including the full benefit of Section 45Q tax credits, the breakeven cost of adding CCS to Rio Grande LNG is expected to be $13 to $24 per metric tonne of CO₂ or $0.05 to $0.09 per MMBtu on an LNG basis. Coupled with its low costs, NextDecade believes that LNG from Rio Grande LNG will be among the greenest and most attractively priced in the world.

“I am immensely proud of the carbon emissions reduction work our NextDecade team has completed over the last several years, and of the team’s ability to innovate and continuously challenge industry paradigms,” said Ivan Van der Walt, NextDecade’s Senior Vice President, Engineering and Construction. “We believe our CCS project at Rio Grande LNG and the proprietary processes we are advancing could significantly enhance the environmental performance and positive impacts of low-GHG LNG.”

Greenest LNG Project in the World

NextDecade is working with sustainable Permian and Eagle Ford producers seeking to supply responsibly sourced natural gas (RSG) to Rio Grande LNG. Combining RSG with the anticipated CO₂ emissions reduction associated with our CCS project is expected to enable Rio Grande LNG to produce the lowest lifecycle GHG LNG on an FOB basis and to be the greenest LNG project in the world.

“We continue to believe that reliable, competitively priced LNG and responsible environmental stewardship are not mutually exclusive, and our customers do not have to choose between pocketbook and planet,” said Schatzman. “NextDecade will be a leader in the sustainable production of LNG to be exported from the U.S. Gulf Coast, providing clean energy security to global markets, especially those that have historically relied on coal and other carbon-intensive fuels to generate electricity and industrial process heat.”

To realize the significant benefits associated with co-development of Rio Grande LNG and the CCS project, NextDecade anticipates achieving FID on a minimum of two trains at Rio Grande LNG in 2021 and FID on the CCS project soon after FID at Rio Grande LNG.

Investor Conference Call and Webcast

NextDecade will host a conference call and webcast at 3:30 p.m. U.S. Central Time to discuss the details of today's announcement. NextDecade participants will include Matt Schatzman, Chairman and Chief Executive Officer; Brent Wahl, Chief Financial Officer; Ivan Van der Walt, Senior Vice President, Engineering and Construction; and Patrick Hughes, Senior Vice President, Strategy and Business Development.

• Webcast: https://edge.media-server.com/mmc/p/njw7snjv
• Dial: +1 (833) 519-1405 (Toll Free) or +1 (270) 215-9740 (International)
• Code: 3669485

About NextDecade Corporation

NextDecade Corporation (NextDecade) is committed to providing the world access to cleaner energy. NextDecade, through its wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, is developing a 27 mtpa LNG export project in South Texas along with one of the largest carbon capture and storage projects in North America. The Rio Grande LNG project is expected to be the largest and greenest U.S. LNG export solution linking Permian Basin and Eagle Ford Shale natural gas to the global LNG market. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, visit www.next-decade.com.

NextDecade Forward-Looking Information

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design” and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on NextDecade’s current assumptions, expectations, and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include uncertainties about progress in the development of NextDecade’s LNG liquefaction and export projects and the timing of that progress; NextDecade’s final investment decision (“FID”) in the construction and operation of a LNG terminal at the Port of Brownsville in southern Texas (the “Terminal”) and the timing of that decision; the successful completion of the Terminal by third-party contractors and an approximately 137-mile pipeline to supply gas to the Terminal being developed by a third-party; NextDecade’s ability to secure additional debt and equity financing in the future to complete the Terminal; the accuracy of estimated costs for the Terminal; statements that the Terminal, when completed, will have certain characteristics, including amounts of liquefaction capacities; the development risks, operational hazards, regulatory approvals applicable to the Terminal’s and the third-party pipeline's construction and operations activities; NextDecade’s anticipated competitive advantage and technological innovation which may render its anticipated competitive advantage obsolete; the global demand for and price of natural gas (versus the price of imported LNG); the availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG industry, including environmental laws and regulations that impose significant compliance costs and liabilities; NextDecade’s ability to develop and implement carbon capture and storage or similar technology to reduce anticipated carbon emissions from the Terminal; the 2019 novel coronavirus pandemic and its impact on NextDecade’s business and operating results, including any disruptions in NextDecade’s operations or development of the Terminal and the health and safety of NextDecade’s employees, and on NextDecade’s customers, the global economy and the demand for LNG; risks related to doing business in and having counterparties in foreign countries; NextDecade’s ability to maintain the listing of its securities on a securities exchange or quotation medium; changes adversely affecting the business in which NextDecade is engaged; management of growth; general economic conditions; NextDecade’s ability to generate cash; compliance with environmental laws and regulations; the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s Annual Report on Form 10-K for the year ended December 31, 2019 and other subsequent reports filed with the Securities and Exchange Commission, all of which are incorporated herein by reference. Additionally, any development of the Terminal remains contingent upon completing required commercial agreements, acquiring all necessary permits and approval, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.

Patrick Hughes
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+1 (832) 209-8131

• Corporation reports EPS of $0.12 per share for Q4 2020, sequentially higher than Q3 2020.
• Full year 2020 EPS of $0.56 per share versus $(1.67) loss in full year 2019. First full year of profitability since 2015 despite impact of COVID-19.
• Capitalization significantly improved from 2019. Total debt reduced by $33.6 million or 47% from December 31, 2019.

CARNEGIE, Pa.--(BUSINESS WIRE)--Ampco-Pittsburgh Corporation (NYSE: AP) (the "Corporation" or “Ampco-Pittsburgh”) reported net income for the three and twelve months ended December 31, 2020, of $2.2 million, or $0.12 per common share, and $8.0 million, or $0.56 per common share, respectively. By comparison, the Corporation reported net income for the three months ended December 31, 2019, of $3.1 million, or $0.24 per common share, and a net loss of $(21.0) million, or $(1.67) per common share, for the twelve months ended December 31, 2019. For the full year 2019, this includes a loss from discontinued operations, net of tax, of $(9.1) million, or $(0.72) per common share.

Sales from continuing operations were $87.0 million and $328.5 million for the three and twelve months ended December 31, 2020, respectively, compared to $97.0 million and $397.9 million for the three and twelve months ended December 31, 2019, respectively. The decrease is primarily attributable to a lower volume of shipments for the Forged and Cast Engineered Products segment due to deferral of deliveries by customers in the flat-rolled steel and aluminum markets and reduced demand for forged engineered products, primarily in the oil and gas market.

Commenting on the quarter and full year results, Brett McBrayer, Ampco-Pittsburgh’s Chief Executive Officer, said, “Despite the decline in sales driven by the global pandemic, Ampco-Pittsburgh delivered another profitable quarter in Q4 2020 and improved sequentially over prior quarter EPS. The restructuring initiatives and efficiency improvements our team has been engaged in over the past two years have positioned us to face these challenges and deliver our first profitable year since 2015 while improving our liquidity position. We are cautiously optimistic that order activity levels will increase moving into the second half of 2021 as the lingering impacts of the pandemic subside.”

The Corporation reported income from continuing operations for the three and twelve months ended December 31, 2020, of $2.0 million and $6.4 million, respectively, compared to income of $3.0 million and a loss of $(10.9) million, respectively, for the same periods of the prior year. Income from continuing operations for the twelve months ended December 31, 2020, includes $0.8 million in subsequent proceeds from a 2018 business interruption claim (“Proceeds from Business Interruption Insurance Claim”) and a $0.3 million charge associated with the potential insolvency of an asbestos-related insurance carrier (“Asbestos-Related Charge”). By comparison, loss from continuing operations for the twelve months ended December 31, 2019, includes $1.8 million in Proceeds from Business Interruption Insurance Claim, $4.6 million in excess costs of the Corporation’s Avonmore, PA cast roll manufacturing facility (“Avonmore”), which was sold in September 2019 (“Excess Costs of Avonmore”), $2.4 million in professional fees and employee severance costs associated with the Corporation’s overall restructuring plan (“Restructuring-Related Costs”), $1.4 million in bad debt expense for a cast roll customer who had filed for bankruptcy protection (“Bad Debt Expense”), and an impairment loss (“Impairment Charge”) of $10.1 million associated with the write-down of certain assets of Avonmore in anticipation of its sale.

Excluding the Proceeds from the Business Interruption Insurance Claim and the Asbestos-Related Charge from the current year operating results, and the Bad Debt Expense, the Excess Costs of Avonmore, the Restructuring-Related Costs, the Proceeds from the Business Interruption Insurance Claim, and the Impairment Charge from the prior year operating results, as applicable, adjusted income (loss) from continuing operations, which is not based on U.S. generally accepted accounting principles (“GAAP”), was $2.3 million and $6.0 million for the three and twelve months ended December 31, 2020, in comparison to $1.9 million and $5.7 million for the three and twelve months ended December 31, 2019, respectively. Adjusted income from continuing operations for the three and twelve months ended December 31, 2020, increased by $0.4 million and $0.3 million, respectively, in comparison to the prior year periods, despite decreases in sales of approximately 10% and 17%, respectively, for the three and twelve months ended December 31, 2020, driven principally by the pandemic. Although the current year periods benefited from reduced SG&A expense compared to the corresponding periods of 2019, and, we experienced improved roll pricing and lower raw material costs during fiscal year 2020 compared to fiscal year 2019, these factors were approximately offset by the pandemic-driven impacts of the lower shipment volumes and net unfavorable plant absorption from lower production levels in the Forged and Cast Engineered Products segment. A reconciliation of these GAAP to non-GAAP results is provided below under “Non-GAAP Financial Measures Reconciliation Schedule.”

Other income – net for the three months ended December 31, 2020, improved in comparison to the prior year primarily due to lower interest expense. On a year-to-date basis, however, lower interest expense and lower foreign exchange transaction losses in 2020 did not completely offset the impact of net gains recorded in 2019 from the curtailment of pension and postretirement plans and special termination benefit costs associated with the Avonmore cast roll plant exit.

The income tax benefit for the twelve months ended December 31, 2020, includes a benefit of $3.5 million for the additional tax loss carryback provisions included in the CARES Act.

Segment Results

Forged and Cast Engineered Products

Sales for the three and twelve months ended December 31, 2020, declined 14% and 22% from the respective prior year periods primarily due to customers deferring shipments for mill rolls in response to pandemic-related market impacts and, to a lesser extent, lower demand for other forged engineered products, mainly in the oil and gas market. Operating results for the three months ended December 31, 2020, declined compared to prior year given the $1.8 million in Proceeds from Business Interruption Insurance Claim recorded in the prior year quarter. The unfavorable effects of lower sales volumes, pricing and product mix were more than offset by the favorable effects of reduced cost structure from the segment’s restructuring efforts and the restructuring-related costs recorded in the prior year quarter which are not recurring. Operating results for the twelve months ended December 31, 2020, improved significantly from the prior year period, as the prior year included the Impairment Charge, the segment’s portion of the Restructuring-Related Costs, the Excess Costs of Avonmore, and the Bad Debt Expense. In addition, favorable pricing and product mix, lower raw materials costs and lower selling and administrative expense compared to the prior year partially offset the unfavorable effects of the lower volume of shipments, net unabsorbed costs due to the periodic and temporary idling of plant capacity in response to the pandemic, and the lower Proceeds from Business Interruption Insurance Claim in the current year compared to the prior year.

Air and Liquid Processing

Despite the market effects of COVID-19, sales for the Air and Liquid Processing segment for the three and twelve months ended December 31, 2020, were comparable to prior year levels. Operating income for the quarter and full year was approximately equal to the prior year level, as favorable product mix and process improvement savings offset the Asbestos-Related Charge in the current period.

Teleconference Access

Ampco-Pittsburgh Corporation (NYSE: AP) will hold a conference call on Thursday, March 18, 2021, at 10:30 a.m. Eastern Time (ET) to discuss its financial results for the fourth quarter and fiscal year ended December 31, 2020. The Corporation encourages participants to pre-register at any time, including up to and after the call start time via this link: https://dpregister.com/sreg/10152460/e2dc80e4bc. Those without internet access or unable to pre-register should dial in at least five minutes before the start time using:

• Participant Dial-in (Toll Free): 1-844-308-3408
• Participant International Dial-in: 1-412-317-5408

For those unable to listen to the live broadcast, a replay will be available one hour after the event concludes on the Corporation’s website under the Investors menu at www.ampcopgh.com.

About Ampco-Pittsburgh Corporation

Ampco-Pittsburgh Corporation manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry throughout the world. Through its operating subsidiary, Union Electric Steel Corporation, it is a leading producer of forged and cast rolls for the global steel and aluminum industry. It also manufactures open-die forged products that principally are sold to customers in the steel distribution market, oil and gas industry, and the aluminum and plastic extrusion industries. The Corporation is also a producer of air and liquid processing equipment, primarily custom-engineered finned tube heat exchange coils, large custom air handling systems, and centrifugal pumps. It operates manufacturing facilities in the United States, England, Sweden, Slovenia, and participates in three operating joint ventures located in China. It has sales offices in North and South America, Asia, Europe, and the Middle East. Corporate headquarters is located in Carnegie, Pennsylvania.

Non-GAAP Financial Measures

The Corporation presents non-GAAP adjusted income from continuing operations as a supplemental financial measure to GAAP financial measures regarding the Corporation’s operational performance. This non-GAAP financial measure excludes unusual items affecting comparability, as described more fully in the footnotes to the attached “Non-GAAP Financial Measures Reconciliation Schedule,” including the Impairment Charge, the Restructuring-Related Costs, the Excess Costs of Avonmore, the Bad Debt Expense, the Proceeds from Business Interruption Insurance Claim, and the Asbestos-Related Charge, which the Corporation believes are not indicative of its core operating results. A reconciliation of this non-GAAP financial measure to income (loss) from continuing operations, the most directly comparable GAAP financial measure, is provided below under “Non-GAAP Financial Measures Reconciliation Schedule.”

The Corporation has presented non-GAAP adjusted income from continuing operations because it is a key measure used by the Corporation’s management and Board of Directors to understand and evaluate the Corporation’s operating performance and to develop operational goals for managing the business. Management believes this non-GAAP financial measure provides useful information to investors and others in understanding and evaluating the operating results of the Corporation, enhancing the overall understanding of the Corporation’s past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by management in its financial and operational decision-making. Non-GAAP adjusted income from continuing operations should be used only as a supplement to GAAP information, in conjunction with the Corporation’s condensed consolidated financial statements prepared in accordance with GAAP, and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. There are limitations related to the use of non-GAAP adjusted income from continuing operations rather than GAAP income (loss) from continuing operations. Among other things, the Excess Costs of Avonmore, which are excluded from the non-GAAP financial measure, necessarily reflect judgments made by management in allocating manufacturing and operating costs between Avonmore and the Corporation’s other operations and in anticipating how the Corporation will conduct business following the sale of Avonmore, which was completed on September 30, 2019.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 (the “Act”) provides a safe harbor for forward-looking statements made by or on behalf of Ampco-Pittsburgh Corporation (the “Corporation”). This press release may include, but is not limited to, statements about operating performance, trends, events that the Corporation expects or anticipates will occur in the future, statements about sales and production levels, restructurings, the impact from global pandemics (including COVID-19), profitability and anticipated expenses, future proceeds from the exercise of outstanding warrants, and cash outflows. All statements in this document other than statements of historical fact are statements that are, or could be, deemed “forward-looking statements” within the meaning of the Act and words such as “may,” “will,” “intend,” “believe,” “expect,” “anticipate,” “estimate,” “project,” “forecast” and other terms of similar meaning that indicate future events and trends are also generally intended to identify forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made, are not guarantees of future performance or expectations, and involve risks and uncertainties. For the Corporation, these risks and uncertainties include, but are not limited to: cyclical demand for products and economic downturns; excess global capacity in the steel industry; fluctuations of the value of the U.S. dollar relative to other currencies; increases in commodity prices or shortages of key production materials; consequences of global pandemics (including COVID-19); changes in the existing regulatory environment; new trade restrictions and regulatory burdens associated with “Brexit”; inability of the Corporation to successfully restructure its operations; limitations in availability of capital to fund the Corporation’s operations and strategic plan; inoperability of certain equipment on which the Corporation relies; work stoppage or another industrial action on the part of any of the Corporation’s unions; liability of the Corporation’s subsidiaries for claims alleging personal injury from exposure to asbestos-containing components historically used in certain products of those subsidiaries; inability to satisfy the continued listing requirements of the New York Stock Exchange or NYSE American; failure to maintain an effective system of internal controls; potential attacks on information technology infrastructure and other cyber-based business disruptions; and those discussed more fully elsewhere in this report and in documents filed with the Securities and Exchange Commission by the Corporation, particularly in Item 1A, Risk Factors, in Part I of the Corporation’s latest Annual Report on Form 10-K, and Part II of the Quarterly Report on Form 10-Q for the period ended September 30, 2020. The Corporation cannot guarantee any future results, levels of activity, performance or achievements. In addition, there may be events in the future that the Corporation may not be able to predict accurately or control which may cause actual results to differ materially from expectations expressed or implied by forward-looking statements. Except as required by applicable law, the Corporation assumes no obligation, and disclaims any obligation, to update forward-looking statements whether as a result of new information, events or otherwise.

AMPCO-PITTSBURGH CORPORATION
NON-GAAP FINANCIAL MEASURES RECONCILIATION SCHEDULE
(in thousands)

As described under “Non-GAAP Financial Measures” above, the Corporation presents non-GAAP adjusted income (loss) from continuing operations as a supplemental financial measure to GAAP financial measures. The following is a reconciliation of income (loss) from continuing operations, the most directly comparable GAAP financial measure, to this non-GAAP financial measure for the three and twelve months ended December 31, 2020 and 2019:

Michael G. McAuley
Senior Vice President, Chief Financial Officer and Treasurer
(412) 429-2472
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DAYTON, Ohio--(BUSINESS WIRE)--REX American Resources Corporation (NYSE: REX), a leading ethanol company, announced today that it will report its fiscal 2020 fourth quarter financial results on Thursday, March 25, pre-market and will host a conference call and webcast at 11:00 a.m. ET that morning to review the results.

To access the conference call, interested parties may dial 212/231-2920 (domestic and international callers). Participants can also listen to a live webcast of the call on the REX website at www.rexamerican.com/Corp/Page4.aspx. A webcast replay will be available for 30 days following the live event at www.rexamerican.com/Corp/Page4.aspx.

About REX American Resources Corporation

REX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 605 million gallons of ethanol over the twelve-month period ended October 31, 2020. REX’s effective ownership of the trailing twelve-month gallons shipped (for the twelve months ended October 31, 2020) by the ethanol production facilities in which it has ownership interests was approximately 220 million gallons. In addition, the Company acquired a refined coal operation in August 2017. Further information about REX is available at www.rexamerican.com.

Douglas Bruggeman
Chief Financial Officer
937/276‑3931
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Joseph Jaffoni, Norberto Aja
JCIR
212/835-8500

Dangerous Goods Specialist Recognized for Leadership in Helping Shippers Navigate Business Challenges, Leverage Supply Chains for Competitive Advantage

CHICAGO--(BUSINESS WIRE)--#Compliance--Labelmaster, the leading provider of products, services and technology for the safe and compliant transport of dangerous goods (DG) and hazardous materials (hazmat), today announced that Director of Regulatory Affairs and Corporate Responsibility Brian Beetz has been selected as a 2021 Pros to Know Award recipient by Supply & Demand Chain Executive magazine.

The Pros to Know Awards recognize outstanding executives whose accomplishments offer a roadmap for other leaders looking to leverage supply chain for competitive advantage. This year’s list includes individuals and teams from software and service providers, consultancies and academia, trucking and transportation firms, professional development agencies, sourcing and procurement divisions, and more. All have helped supply chain clients and the supply chain community at large prepare to meet many of today’s – and tomorrow’s – challenges.

Brian Beetz has more than 20 years of experience in the hazmat, environmental, health and safety sectors. As director of regulatory affairs and corporate responsibility, Beetz helps provide organizations in diverse industries (including manufacturing, retail, electronics, pharmaceutical and others) with the DG products, technology, training, regulatory materials and support services they need to in order to execute their supply chain operations efficiently, safely and compliantly.

“We are proud to have Brian recognized for his ongoing efforts to support the safe and compliant movement of dangerous goods around the globe,” said Alan Schoen, president, Labelmaster. “His deep industry expertise and knowledge of hazmat shipping regulations helps organizations navigate the complex, ever-changing regulations that govern the transport of dangerous goods, and achieve real business value by creating a more compliant supply chain.”

Overcoming Gaps in Today’s Hazmat Supply Chain

The growth of ecommerce, the evolution of the global supply chain, expanding regulations and a host of other factors have made moving DG in a safe and compliant manner more important than ever. Unfortunately, several key gaps exist within many organizations’ processes and infrastructure that make maintaining a safe and reliable hazmat supply chain challenging, and put their operational efficiency and bottom line at risk.

These DG management gaps became especially clear during the COVID-19 pandemic, as many organizations experienced significant challenges in keeping goods moving, as well keeping teams up-to-date and trained on new and existing compliance rules. To learn more about the gaps that exist within the DG supply chain, and strategies to improve compliance within your organization, download the 2020 Global Dangerous Goods Confidence Outlook report: https://www.labelmaster.com/dg-confidence-outlook.

To learn more about dangerous goods software or how to establish a safer, more compliant supply chain, visit https://www.labelmaster.com.

About Labelmaster

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

Stephen Dye
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312-957-8911

NY Green Bank Founding President Alfred Griffin to Lead New Division

SAN FRANCISCO--(BUSINESS WIRE)--Generate, a leading sustainable infrastructure company, today announced it is launching a dedicated credit business to provide flexible financing solutions to technology companies and project developers at the forefront of the Infrastructure Revolution. Alfred Griffin, founding president of the NY Green Bank, has joined Generate to lead the new Generate Credit division.

Today’s announcement represents an important expansion of Generate’s franchise, where its core business of financing, building, owning and operating sustainable infrastructure has established Generate as the only “one-stop-shop” for sustainable infrastructure pioneers.

“Credit is a critical part of the financial ecosystem for clean energy and sustainable infrastructure solutions, and we are thrilled to expand access to this important tool that we’ve used to support our partners since inception,” said Scott Jacobs, chief executive officer and co-founder of Generate. “Generate has been a pioneer in electric bus leasing, renewable energy development lending, and fleet financing for electric and hydrogen mobility, in addition to our core business building, owning and operating assets. Our partners are asking us to take additional roles in financing, developing and deploying proven solutions to some of the world’s most pressing problems. We are excited to bring Alfred on board to accelerate this business.”

Griffin, a leading national figure in renewable energy, brings 25 years of banking and finance experience to Generate. At NY Green Bank, a New York State-sponsored specialty finance company, he led the organization from concept to lending over $1 billion to support sustainable infrastructure projects in areas such as renewable energy generation and energy efficiency. Prior to the Green Bank, Griffin held roles in investment banking, capital markets and risk management at Citigroup Global Markets Inc.

“Generate has been the clear market leader in financing the deployment of innovative and highly impactful clean energy business models and technologies, thanks to its dedicated expertise and singular focus on sustainability,” said Griffin. “I’m thrilled to join Generate to expand its credit platform for sustainable infrastructure and work with this industry-leading team. Our fight against climate change demands fast results, and it’s imperative to provide the right kind of capital at the right time to projects and companies who are driving the Infrastructure Revolution.”

Generate Credit will focus on the same areas of the Infrastructure Revolution that have been Generate’s core markets since inception, including renewable power, energy efficiency, microgrids, energy storage, electric mobility, hydrogen, wastewater, waste management, and sustainable agriculture. Generate has made more than $600 million in similar types of clean energy loans since its founding.

With broad financing capabilities, a permanently capitalized balance sheet, and a leading operating platform for distributed assets, Generate offers project developers and technology companies the world’s most comprehensive and flexible range of financial and operational solutions. The new credit business will build on the company’s track record, targeting new loans that expand the market for the deployment of sustainable infrastructure.

About Generate

Generate Capital, Inc. is a leading sustainable infrastructure company driving the infrastructure revolution. Generate builds, owns, operates and finances solutions for clean energy, water, waste and transportation. Founded in 2014, Generate partners with over 35 technology and project developers and owns and operates more than 2,000 assets globally. Generate is the one-stop shop offering pioneers of the infrastructure revolution tailored funding and support needed to get projects built. Our Infrastructure-as-a-Service model delivers affordable, reliable and sustainable resources to over 1,000 customers, companies, communities, school districts and universities. Together, we are rebuilding the world. For more information, please visit www.generatecapital.com.

Emily Chasan
(415) 480-2914
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Colombia’s Largest Petroleum Company Deploys Aspen GDOT Software to Optimize Margin in Cartagena and Barrancabermeja Refineries

BEDFORD, Mass.--(BUSINESS WIRE)--Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in asset optimization software, today announced that Ecopetrol, the largest petroleum company in Colombia, has selected Aspen GDOT™ dynamic optimization software as part of its digitalization initiative to improve refining margins at its two refineries in Cartagena and Barrancabermeja, and upgrading to Aspen DMC3™ advanced process control software in Barrancabermeja refinery.

“Optimizing production and increasing margins in today’s downstream business environment requires digital technology that enables refineries to see the entire process and make adjustments based on real-time data,” said Francisco Trespalacios Vergara, digital downstream champion at Ecopetrol. “This combination of AspenTech solutions gives us unparalleled visibility and control so that we can respond to changes in market conditions and align our planning, optimization and control strategies at our Cartagena and Barrancabermeja facilities with our global models. These solutions also fit in with our corporate digitalization initiative that we call ‘Best of the Best,’ which is an effort to deploy the ideal technology solutions to meet our needs across the organization.”

Aspen GDOT and Aspen DMC3 join other AspenTech solutions currently used by Ecopetrol, including Aspen PIMS-AO™ for planning, aspenONE® Engineering for process optimization, Aspen Petroleum Scheduler™ and Aspen Refinery Multi-Blend Optimizer™ for scheduling, and Aspen Operations Reconciliation and Accounting™ for mass balance reconciliation. With Aspen GDOT, Ecopetrol aims to improve performance and margin by closed-loop coordination of multiple refining units in real time. Ecopetrol will use Aspen DMC3 to sustain optimal performance with adaptive process control technology that enables simultaneous process optimization, background model maintenance and testing.

“Ecopetrol is applying a truly innovative, state-of-the-art approach to production optimization and closing the gap between planning, scheduling and operations,” said Alex Muro, Vice President of Regional Sales for Latin America at Aspen Technology. “These solutions will give these Ecopetrol facilities the agility and operational flexibility they need to adapt to customer demands and will allow Ecopetrol to achieve greater time to value by integrating with the AspenTech software already in place.”

Supporting Resources

• Aspen GDOT™
• Aspen DMC3™
• Aspen PIMS-AO™
• aspenONE® Engineering
• Industrial AI

About Aspen Technology

Aspen Technology (AspenTech) is a global leader in asset optimization software. Its solutions address complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with artificial intelligence. Its purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets safer, greener, longer and faster. Visit AspenTech.com to find out more.

© 2021 Aspen Technology, Inc. AspenTech,, the Aspen leaf logo, Aspen GDOT™, Aspen DMC3™, Aspen PIMS-AO™ and aspenONE^® are trademarks of Aspen Technology, Inc.

Aspen Technology, Inc.
Andy Rodger
+ 1 781-221-4252
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DUBLIN--(BUSINESS WIRE)--The "Compressor Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global compressor oil market reached a value of US$ 5.8 Billion in 2020. Looking forward, the publisher expects the global compressor oil market to exhibit moderate growth during the next five years.

Compressor oil is a lubricant used for reducing heat and cooling down the compressors in air conditioning and refrigeration systems. It ensures the proper functioning of the metal components and improves machinery performance with its anti-rust properties. Compressor oil also has exceptional oxidation stability and leaves a low carbon residue that reduces the operation and maintenance costs for the user. It is manufactured using a combination of base oil and various other additives. The type of base oil used, such as synthetic, mineral, semi-synthetic and bio-based, determines the quality and longevity of the compressor oil. With cost- and energy-saving properties, it finds extensive applications in various industries ranging from construction, general manufacturing, mining, power generation, chemical and petrochemical, etc.

The need for cost optimization is one of the key factors driving the market growth. Compressor oil assists in heat dissipation and maintaining the temperature of the compressor. This subsequently leads to reduced wear and tear of the compressor and aids in its smooth operation, thereby helping manufacturers to avoid high repair costs.

Furthermore, significant growth in the heating, ventilation, and air conditioning (HVAC) industry along with the establishment of cold chain facilities, particularly in the developing regions, is also augmenting the demand for compressor oil. Other factors such as increasing investments in research and development (R&D) activities to develop improved product variants, such as environment-friendly compressor oil, are also favoring the growth of the market.

Companies Mentioned

• Royal Dutch Shell PLC
• ExxonMobil Corporation
• BP International Limited
• Chevron Corporation
• Total S.A.
• Sinopec Group
• The PJSC Lukoil Oil Company
• Indian Oil Corporation Ltd.
• The Fuchs Group
• Idemitsu Kosan Co. Ltd.
• Petroliam Nasional Berhad (Petronas)
• DuPont de Nemours Inc (DuPont)
• Croda International PLC.
• Sasol Limited
• The Phillips 66 Company
• Bel-Ray Company LLC.
• Morris Lubricants Limited and Penrite Oil Company

Key Questions Answered in This Report:

• How has the global compressor oil market performed so far and how will it perform in the coming years?
• What are the key regional markets in the global compressor oil industry?
• What has been the impact of COVID-19 on the global compressor oil industry?
• What is the breakup of the market based on the compressor type?
• What is the breakup of the market based on the base oil?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the end use industry?
• What are the various stages in the value chain of the global compressor oil industry?
• What are the key driving factors and challenges in the global compressor oil industry?
• What is the structure of the global compressor oil industry and who are the key players?
• What is the degree of competition in the global compressor oil industry?
• What are the profit margins in the global compressor oil industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Compressor Oil Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Breakup by Compressor Type

5.5 Market Breakup by Base Oil

5.6 Market Breakup by Application

5.7 Market Breakup by End Use Industry

5.8 Market Breakup by Region

5.9 Market Forecast

6 Market Breakup by Compressor Type

6.1 Positive Displacement Compressor

6.1.1 Market Trends

6.1.2 Market Forecast

6.2 Dynamic Compressor

6.2.1 Market Trends

6.2.2 Market Forecast

7 Market Breakup by Base Oil

7.1 Synthetic Oil

7.1.1 Market Trends

7.1.2 Market Forecast

7.2 Mineral Oil

7.2.1 Market Trends

7.2.2 Market Forecast

7.3 Semi-Synthetic Oil

7.3.1 Market Trends

7.3.2 Market Forecast

7.4 Bio-Based Oil

7.4.1 Market Trends

7.4.2 Market Forecast

8 Market Breakup by Application

8.1 Gas Compressor

8.1.1 Market Trends

8.1.2 Market Forecast

8.2 Air Compressor

8.2.1 Market Trends

8.2.2 Market Forecast

9 Market Breakup by End Use Industry

9.1 General Manufacturing

9.2 Construction

9.3 Oil and Gas

9.4 Mining

9.5 Chemical and Petrochemical

9.6 Power Generation

9.7 Others

10 Market Breakup by Region

10.1 Asia Pacific

10.2 Europe

10.3 North America

10.4 Middle East and Africa

10.5 Latin America

11 SWOT Analysis

12 Value Chain Analysis

13 Porters Five Forces Analysis

14 Price Analysis

15 Competitive Landscape

15.1 Market Structure

15.2 Key Players

15.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/ex1zag

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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WILLISTON, Vt.--(BUSINESS WIRE)--$ISUN #EV--iSun, Inc. (NASDAQ: ISUN) (“iSun” or the “Company”), a leading solar energy and clean mobility infrastructure company with 50 years of construction experience for solar, electrical and data services, today announced that it has made a $1.5 million strategic investment in Gemini Electric Mobility Co. (“Gemini”) and a $1 million investment in Nad Grid Corp (“AmpUp”).

Highlights

• Establishes strategic relationships to drive future opportunities to install, own and operate large networks of EV charging stations with high utilization
• Consistent with iSun’s strategy to invest in companies that help iSun provide energy as a service
• Provides iSun with access to software development capabilities necessary for EV charging services
• Investments aim to accelerate the adoption of electric mobility

“The investments in Gemini and AmpUp are important steps forward for iSun as we seek to expand our presence in the clean mobility market and further establish the Company as a leader in solar infrastructure, inside and outside of our traditional regional markets from Maine to California,” said Jeffrey Peck, Chairman and Chief Executive Officer of iSun. “These investments complement our new product offerings acquired in January and are part of our ongoing growth strategy that targets companies serving new markets and that help iSun provide energy as a service to enable our customers to convert from dirty energy to clean energy. We believe the investments in Gemini and AmpUp fit well within that framework. They provide iSun with a unique advantage to serve our customers in the clean mobility infrastructure market and provide growth opportunities for our solar installation business. The investments also expand our opportunities to own and operate electric vehicle charging assets and to increase our base of recurring revenue and earnings.”

Gemini Electric Mobility Co. has developed a sustainable fintec solution for mobility, which accelerates the adoption of electric vehicles for those who drive the most. Their solution delivers on EV’s GHG reduction and clean air promises, by increasing accessibility and by maximizing utilization over the full vehicle lifecycle.

AmpUp (Nad Grid Corp) was founded by Thomas Sun, Timotej Gavrilovic and Ronnie Nguyen in 2019. AmpUp is an electric vehicle (EV) software company and network provider that enables drivers, hosts, and fleets to charge stress-free. With three issued and four pending patents, their technology gives businesses and property owners the ability to efficiently manage multiple charge stations and locations in one platform. Advanced features, such as smart scheduling, dynamic access control and energy optimization provide site hosts more flexibility and affordability for their charger investment. AmpUp’s network and software solutions have been deployed for customers across North America requiring installation and management of multiple electric vehicle chargers. AmpUp has been working with iSun on the development of its proprietary iSunOS solution, which provides site owners with metrics across solar power generation, electric vehicle charging status, clean miles driven, air quality and battery management capacities.

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 200 megawatts of rooftop, ground mount and EV carport solar systems (equal to power required for 38,000 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

New Contracts and Market Strength Fuel 2021 Outlook

LOUISVILLE, Ky.--(BUSINESS WIRE)--$SYPR--Sypris Solutions, Inc. (Nasdaq/GM: SYPR) today reported financial results for its fourth quarter and full-year ended December 31, 2020. Having completed a series of strategic initiatives over the past several years, Sypris Solutions is now well positioned to achieve long-term growth and increasing margins. These initiatives have included reducing and realigning the Company’s cost structure while diversifying its book of business in terms of both customers and markets.

The Company’s results for 2020 fundamentally reflected these expectations, highlighted by the improved performance of Sypris Electronics. The essential nature of the defense and communication programs served by Sypris Electronics continued to enable this segment to sustain operations at planned levels throughout the year. The commercial vehicle and automotive markets served by Sypris Technologies recovered during the second half of 2020 from the sharp reduction in demand during the second quarter, as the global economic impact of the COVID-19 pandemic continued to lessen. Favorable market conditions for both segments are forecasted in 2021, positioning the Company for top line growth and expanding margins.

HIGHLIGHTS

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• Consolidated gross margin for the full year 2020 increased 280 basis points from 2019 to 14.0% despite a 6.3% decrease in revenue primarily attributable to the impact of COVID-19 in the second quarter.
• Consolidated gross profit for the full year 2020 improved 17.0% from 2019 and, when combined with lower spending for selling, general and administrative expenses, contributed to a 102.1% increase in operating income compared to 2019.
• Earnings per diluted share for the full year 2020 increased to $0.08 compared to a loss of $0.19 per share for the prior year, reflecting the improvement in operating income and the release of a valuation allowance on certain foreign deferred tax assets.
• Full year 2020 revenue for Sypris Electronics increased 41.3% from the prior year, reflecting its strong backlog and improved electronic component availability. Gross margin improved 1,420 basis points from the prior year to 14.6% in 2020.
• Subsequent to quarter-end, Sypris Electronics announced a contract award to manufacture and test a variety of electronic power supply modules for a mission-critical, long-range, precision-guided anti-ship missile system, with production to begin during 2021.
• Subsequent to quarter-end, Sypris Technologies announced a long-term contract extension with a leading commercial vehicle manufacturer. The new contract continues the existing product lines and includes the award of two additional axle shaft model lines to begin production in 2021 and the adoption of certain Sypris Ultra^® series lightweight axle shaft design features.
• Subsequent to quarter-end, Sypris Technologies also announced awards from two high-pressure energy projects. The contracts, which provide for the use of closures in the Anchor Field development project in the Gulf of Mexico and the planned upgrade of a natural gas pipeline system in North America, call for shipments to begin prior to year-end 2021.
• The impact of these recent contract wins, when combined with current positive market conditions, is forecast to fuel an increase of 20% in revenue, a 200 to 300 basis point expansion of margins and strong double-digit percentage growth in cash flow from operations for the year.

────────────────────

“While the economic headwinds and disruptions in 2020 had an impact on our results, we are pleased with our performance during the year. Our operations performed extremely well during 2020 and returned to profitability, despite the adverse conditions incurred during the second quarter, which continued during the course of the year,” commented Jeffrey T. Gill, President and Chief Executive Officer. “Last year presented historic challenges brought on by the pandemic, yet our businesses pulled together to protect our employees, while balancing the needs of our customers, communities and business partners during these difficult times. The effort and execution by our people resulted in a strong performance for the year.

“Full year revenue for Sypris Electronics increased 41.3% from the prior year, reflecting its strong backlog and improved electronic component availability. Gross margin improved 1,420 basis points from the prior year to 14.6% in 2020, and recent contact wins are expected to provide important support for the growth of the business during the coming year. We have been designated as an essential supplier to our customers serving the defense and communications industries and as such, our team has done an excellent job making sure that we were able to provide for their increasing needs during 2020.

“Demand from customers serving the automotive, commercial vehicle, sport utility, and off-highway markets recovered in the second half of 2020, with Class 8 North American production up almost 32% over the first half. The recent announcement of the long-term contract extension with one of our key customers combined with the improved outlook for these markets, gives us a clear path to support our growth objectives in the coming year.

“The energy markets faced unprecedented pressures in 2020, with the COVID-19 outbreak driving depressed demand, uncertainty and spending reductions for the entire oil and gas industry. We have remained vigilant in our pursuit of new opportunities in these markets, which has resulted in recent contract awards. While we expect activity levels in this market to remain challenging during the first half of 2021, steadily improving commodity prices, gradually reopening economies and increasing pipeline activity is anticipated to lead to year-over-year growth.

“Gross profit for 2020 was $11.6 million, or 14.0% of revenue, as compared to gross margin of 11.2% for 2019. Given 2020 margin performance includes the burden of the pandemic’s impact on the second quarter, we are pleased to be maintaining this trend line. Our margins have improved steadily since 2016, and we expect further improvement in 2021.”

Concluding, Mr. Gill said, “Our customer base and the markets we serve are considerably more diversified than at any point in our recent history. As an essential business, we have a responsibility to ensure that our defense, communications, energy, and transportation sectors remain vibrant. We will continue to monitor developments, act promptly to mitigate risks and take the necessary steps required to ensure deliveries continue to be made to our customers in a timely manner.”

Fourth Quarter and Full-Year Results

The Company reported revenue of $20.6 million for the fourth quarter ended December 31, 2020, compared to $21.6 million for the prior-year period. Additionally, the Company reported a net loss of $1.2 million for the fourth quarter of 2020, or $0.06 per share, compared to a net loss of $0.9 million, or $0.04 per share, for the prior-year period. Results for the quarter ended December 31, 2020, include a loss of $0.6 million on the disposal of assets. Results for the quarter ended December 31, 2019, include a $0.2 million gain on the sale of assets.

For the full-year 2020, the Company reported revenue of $82.3 million compared with $87.9 million for the prior year. The Company reported net income of $1.7 million, or $0.08 per diluted share, for 2020 compared with a net loss of $3.9 million, or $0.19 per share, for the prior-year. Results for 2020 include an income tax benefit of $3.0 million, primarily from the release of a valuation allowance on certain foreign deferred tax assets and net gains of $0.2 million from the sale or disposal of idle assets. Results for 2019 include a gain of $1.5 million in connection with a contract settlement with a customer and net gains of $0.7 million from the sale of idle assets, partially offset by costs of $0.5 million related to preparing the Broadway facility for sale.

Sypris Technologies

Revenue for Sypris Technologies was $12.1 million in the fourth quarter of 2020 compared to $13.0 million for the prior-year period, primarily reflecting reduced demand in the oil and gas market partially offset by a rebound in the commercial vehicle market. Gross profit for the fourth quarter of 2020 was $1.5 million, or 12.7% of revenue, compared to $2.0 million, or 15.4% of revenue, for the same period in 2019.

Sypris Electronics

Revenue for Sypris Electronics was $8.5 million in the fourth quarter of 2020 compared to $8.6 million for the prior-year period. Shipments during the fourth quarter of 2020 were impacted by delays on certain programs due to customer design modifications. However, management was able to largely offset these delays by increasing production on other programs, reflecting the impact of a growing backlog. Additionally, many of the challenges faced during the prior year with electronic component shortages and extensive lead-times have been resolved. Gross profit for the fourth quarter of 2020 was $1.0 million, or 11.9% of revenue, compared to $0.7 million, or 8.2% of revenue, for the same period in 2019.

Outlook

Commenting on the future, Mr. Gill added, “First and foremost, we remain focused on the health and safety of our employees, their families and our customers. While the future potential impact of the pandemic remains unknown, we are optimistic regarding the current economic outlook for 2021.

“Demand has strengthened significantly from customers serving the automotive, commercial vehicle and sport utility markets, with Class 8 forecasts showing year-over-year production increases of over 41% for 2021. Similarly, demand from customers in the defense and communications sector remains robust. While the energy market continues to be volatile, we continue to secure new orders on important projects around the world.

“The continuing momentum of new contract awards, when combined with increasingly positive market conditions, provide important support for our financial outlook for 2021, which includes 20% growth in the Company’s top line, 200 to 300 basis points of further expansion in the Company’s gross margin and strong double digit percentage growth in cash flow generated from operations.

“As we prepare for 2021, we remain focused on meeting the important needs of our customers who serve defense, communications, energy, transportation, and other critical infrastructure industries. With a strong backlog and recovering markets, we believe that the outlook for the coming year has the potential to be very positive for Sypris and we approach our new fiscal year with optimism.”

About Sypris Solutions

Sypris Solutions is a diversified provider of truck components, oil and gas pipeline components and aerospace and defense electronics. The Company produces a wide range of manufactured products, often under multi-year, sole-source contracts. For more information about Sypris Solutions, visit its Web site at www.sypris.com.

Forward Looking Statements

This press release contains “forward-looking” statements within the meaning of the federal securities laws. Forward-looking statements include our plans and expectations of future financial and operational performance. Such statements may relate to projections of the company’s revenue, earnings, and other financial and operational measures, our liquidity, our ability to mitigate or manage disruptions posed by the current coronavirus disease (“COVID-19”), and the impact of COVID-19 and economic conditions on our future operations, among other matters. In March 2020, the President of the United States declared the COVID-19 outbreak a national emergency. COVID-19 continues to spread throughout the United States and other countries across the world, and the duration and severity of its effects are currently unknown. The COVID-19 pandemic has resulted, and is likely to continue to result, in significant economic disruption and has and will likely adversely affect our business. The Company has continued to operate at each location and sought to remain compliant with government regulations imposed due to the COVID-19 pandemic.

Each forward-looking statement herein is subject to risks and uncertainties, as detailed in our most recent Form 10-K and Form 10-Q and other SEC filings. Briefly, we currently believe that such risks also include the following: the impact of COVID-19 and economic conditions on our future operations; possible public policy response to the pandemic, including legislation or restrictions that may impact our operations or supply chain; our failure to successfully complete final contract negotiations with regard to our announced contract “orders”, “wins” or “awards”; our failure to successfully win new business; the termination or non-renewal of existing contracts by customers; our failure to achieve and maintain profitability on a timely basis by steadily increasing our revenues from profitable contracts with a diversified group of customers, which would cause us to continue to use existing cash resources or require us to sell assets to fund operating losses; breakdowns, relocations or major repairs of machinery and equipment, especially in our Toluca Plant; the cost, quality, timeliness, efficiency and yield of our operations and capital investments, including the impact of tariffs, product recalls or related liabilities, employee training, working capital, production schedules, cycle times, scrap rates, injuries, wages, overtime costs, freight or expediting costs; dependence on, retention or recruitment of key employees and distribution of our human capital; disputes or litigation involving governmental, supplier, customer, employee, creditor, stockholder, product liability, warranty or environmental claims; our failure to achieve targeted gains and cash proceeds from the anticipated sale of certain equipment; the fees, costs and supply of, or access to, debt, equity capital, or other sources of liquidity; our ability to comply with the requirements of the SBA and seek forgiveness of all or a portion of our Paycheck Protection Program loan; our inability to develop new or improved products or new markets for our products; cost, quality and availability or lead times of raw materials such as steel, component parts (especially electronic components), natural gas or utilities; our ability to maintain compliance with the NASDAQ listing standards minimum closing bid price; our reliance on a few key customers, third party vendors and sub-suppliers; inventory valuation risks including excessive or obsolescent valuations or price erosions of raw materials or component parts on hand or other potential impairments, non-recoverability or write-offs of assets or deferred costs; other potential weaknesses in internal controls over financial reporting and enterprise risk management; failure to adequately insure or to identify product liability, environmental or other insurable risks; unanticipated or uninsured disasters, public health crises, losses or business risks; unanticipated or uninsured product liability claims; volatility of our customers’ forecasts, scheduling demands and production levels which negatively impact our operational capacity and our effectiveness to integrate new customers or suppliers, and in turn cause increases in our inventory and working capital levels; the costs of compliance with our auditing, regulatory or contractual obligations; labor relations; strikes; union negotiations; pension valuation, health care or other benefit costs; costs associated with environmental claims relating to properties previously owned; our inability to patent or otherwise protect our inventions or other intellectual property from potential competitors; adverse impacts of new technologies or other competitive pressures which increase our costs or erode our margins; U.S. government spending on products and services that Sypris Electronics provides, including the timing of budgetary decisions; changes in licenses, security clearances, or other legal rights to operate, manage our work force or import and export as needed; risks of foreign operations; currency exchange rates; war, terrorism, or political uncertainty; cyber security threats and disruptions; inaccurate data about markets, customers or business conditions; risk related to owning our common stock including increased volatility; or unknown risks and uncertainties. We undertake no obligation to update our forward-looking statements, except as may be required by law.

Anthony C. Allen
Chief Financial Officer
(502) 329-2000

Invests in Solar Generation Assets Under EnfraGen Subsidiary Fontus Renewables

Increasing Contribution to the Energy Transition Trend Across Latin America

NEW YORK & SANTIAGO, Chile--(BUSINESS WIRE)--EnfraGen, LLC ("EnfraGen"), a developer, owner, and operator of specialized sustainable and renewable power and grid stability assets in Latin America owned by leading global private markets firm Partners Group, on behalf of its clients, and Glenfarne Group, LLC ("Glenfarne"), announced today an expansion of its renewables business through new investments in solar energy generation assets, which further enhance EnfraGen’s infrastructure market leadership in the energy transition.

EnfraGen, through its Fontus Renewables division, has recently acquired 10 ready-to-build solar photovoltaic (PV) projects and three nine-megawatt operating solar PV plants, all of which are located in Chile.

EnfraGen also announced it has entered into EPC contracts with Metka – EGN Limited and its Chilean subsidiary Metka EGN Chile SpA, as well as with Elecnor S.A. and its Chilean subsidiary Elecnor Chile S.A., to construct the 10 ready-to-build projects. EnfraGen has provided Metka and Elecnor with a limited notice to proceed beginning the construction process.

The 10 projects, once completed and in operations, will total approximately 90 MWac installed capacity and when combined with the newly acquired and existing operating projects owned by EnfraGen, the portfolio totals 126 MWac. All projects will qualify for Chile’s stabilized price regime as PMG/PMGD plants and add to EnfraGen’s existing value-added renewable power business, Fontus Renewables.

Brendan Wolters, Head of Solar for Fontus Renewables, said, “Chile has some of the greatest potential for solar photovoltaic power generation in the world and an energy policy designed to support its advancement. Fontus Renewables’ solar efforts leverage our existing capabilities and expertise in the region, and contribute to Chile’s energy transition to renewable power.”

Ed Diffendal, Managing Director, Private Infrastructure Americas, Partners Group, adds, "EnfraGen continues to grow as a premier platform of renewable power and grid stability assets in Latin America, providing essential renewable solar power to local communities. We are proud of the significant transformation the business has gone through to date, as well as the broad positive impact it has by securing sustainable power for the region. Partners Group looks forward to further supporting EnfraGen's growth and leadership in the transition to a more sustainable future."

“The acquisition of these 13 solar assets marks another significant milestone for the EnfraGen business, which has grown into one of the pre-eminent power businesses in Latin America,” said Brendan Duval, Chief Executive Officer of EnfraGen, LLC, and Founder and Managing Partner of Glenfarne Group, LLC. “Chile has made great strides to incorporate renewable energy sources into its power grid in recent years, and we see further growth potential to enhance our power infrastructure portfolio in Latin America going into 2021 and beyond.”

About EnfraGen, LLC

EnfraGen is a developer, owner, and operator of grid stability and value-added renewable energy infrastructure businesses across Latin American investment-grade countries. EnfraGen’s grid stability assets supply flexible capacity and energy to local and regional grids in support of renewable power plant intermittent energy production. EnfraGen’s renewable plants are smaller scale, distributed solar photovoltaic and hydroelectric assets that take advantage of unique access points to electrical infrastructure or are located in optimized geographical locations. The business’ mission is to support the transition to zero-carbon emission electric grids.

EnfraGen is jointly controlled by Glenfarne Group, LLC, and global private markets investment manager Partners Group, on behalf of its clients, and has operational and in-construction assets across its subsidiaries totaling over 1.7GW of installed capacity in operation. The company, including its affiliates and subsidiaries, is supported by a team of approximately 325 professionals. EnfraGen maintains offices and assets in Chile, Panama, Colombia, and the United States.

About Glenfarne Group, LLC

Glenfarne is a privately held energy and infrastructure development and management firm based in New York City and Houston, Texas with offices in Dallas, Texas, Panama City, Panama; Santiago, Chile, and Bogota, Colombia. Glenfarne's seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy and infrastructure assets throughout North and South America and Asia. For more information, please visit www.glenfarnegroup.com.

About Partners Group

Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 145 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group is a committed, responsible investor and aims to create broad stakeholder impact through its active ownership and development of growing businesses, attractive real estate and essential infrastructure. With over USD 109 billion in assets under management as of 31 December 2020, Partners Group serves a broad range of institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.

Kris Cole
This email address is being protected from spambots. You need JavaScript enabled to view it.
(310) 652-1411