• As of December 31, 2020, cash and cash equivalents of $68.9 million
• Full year 2020 revenue, net loss and adjusted EBITDA^A of $310.9 million, $(378.9) million and $(25.8) million, respectively
• Revenue, net loss and adjusted EBITDA of $62.0 million, $(35.4) million and $(13.9) million, respectively, for the fourth quarter of 2020
• Fourth quarter 2020 basic loss per share of $(1.18)

HOUSTON--(BUSINESS WIRE)--Nine Energy Service, Inc. ("Nine" or the "Company") (NYSE: NINE) reported fourth quarter 2020 revenues of $62.0 million, net loss of $(35.4) million and adjusted EBITDA of $(13.9) million. For the fourth quarter 2020, adjusted net loss^B was $(35.7) million, or $(1.20) adjusted basic loss per share^C.

“As anticipated, holiday and weather shutdowns were not as pronounced as we have seen historically during the fourth quarter,” said Ann Fox, President and Chief Executive Officer, Nine Energy Service. “Activity improvements are reflected in our 25% increase in revenue quarter over quarter; however, a combination of continued pricing pressure, as well as one-off, non-cash items negatively affected net loss and adjusted EBITDA.”

“The market continues to face unparalleled uncertainty and heightened volatility. Throughout 2020, we were always balancing the short, medium, and long-term needs of the Company including making significant cost-reductions to preserve liquidity, but also maintaining key people, assets, and our footprint in order not to impede the future earnings of the Company. Although profitability was down year over year in conjunction with activity, we were able to demonstrate our ability to flex with the market and preserve liquidity through good working capital management and ended the year with a cash balance of $68.9 million and an undrawn ABL. We were also able to reduce our debt through opportunistic bond buybacks at approximately 27% of par value.”

“Operationally, our team once again demonstrated their ability to gain market share, growing our percentage of US stages completed from approximately 17% in 2019 to approximately 23% in 2020. We organically expanded our cementing service line into the Haynesville and continue to be pleased with the adoption of our dissolvable plugs, despite an unprecedented backdrop for commercializing new technology. Additionally, despite a year with new protocols and ways of working, Nine ended the year with the lowest TRIR in the Company’s history of 0.30.”

“While we have seen improvement in the market throughout Q4 2020, we are still anticipating a very challenging environment in 2021 and expect E&P capital spend will be down year over year. Q1 2021 is off to a slower start as customers finalize their 2021 activity plans and many completion schedules are delayed. Additionally, the inclement weather in Texas caused significant shutdowns within all service lines. Texas weather-related shutdowns in February aside, we anticipate the pace of Q1 activity and revenue will be better sequentially than Q4, but still expect to generate a net loss and negative adjusted EBITDA for the quarter. For Nine, we will continue to flex with the market and our strategy is unchanged. We are focused on building an asset-light business with high barriers to entry and will continue to differentiate through our service execution and leading technology.”

Operating Results

For the year ended December 31, 2020, the Company reported revenues of $310.9 million, net loss of $(378.9) million, or $(12.74) per basic share, and adjusted EBITDA of $(25.8) million. Full year 2020 adjusted net loss was $(118.1) million, or $(3.97) per adjusted basic share. For the full year 2020, the Company reported adjusted gross profit^D of $8.7 million. For the year ended December 31, 2020, the Company generated ROIC^E of (16)%.

During the fourth quarter of 2020, the Company reported revenues of $62.0 million with adjusted gross loss of $(5.0) million. During the fourth quarter, the Company generated ROIC of (35)%.

During the fourth quarter of 2020, the Company reported selling, general and administrative (“SG&A”) expense of $11.0 million, compared to $10.7 million for the third quarter of 2020. For the year ended December 31, 2020, the Company reported SG&A expense of $49.3 million, compared to year ended December 31, 2019 SG&A expense of $81.3 million. Depreciation and amortization expense ("D&A") in the fourth quarter of 2020 was $11.8 million, compared to $11.9 million for the third quarter of 2020. For the year ended December 31, 2020, the Company reported D&A expense of $48.9 million, compared to year ended December 31, 2019 D&A expense of $68.9 million.

The Company recognized an income tax benefit of approximately $0.1 million in the fourth quarter of 2020 and an overall income tax benefit for the year of approximately $2.5 million, resulting in an effective tax rate of 0.6% for 2020. The 2020 income tax benefit is primarily comprised of changes to our valuation allowance position due to impairment recorded during the first quarter of 2020, as well as tax benefit from the five-year net operating loss carryback provision provided by the Coronavirus Aid, Relief, and Economic Security Act signed into law during the first quarter of 2020.

Liquidity and Capital Expenditures

For the year ended December 31, 2020, the Company reported net cash used in operating activities of $(4.9) million. For the year ended December 31, 2020, the Company reported total capital expenditures of $10.2 million, which fell within Management’s guidance of $10-$15 million, compared to the year ended December 31, 2019 total capital expenditures of $62.1 million.

As of December 31, 2020, Nine’s cash and cash equivalents were $68.9 million, and the Company had $37.9 million of availability under the revolving credit facility, which remains undrawn, resulting in a total liquidity position of $106.8 million as of December 31, 2020.

^ABCDESee end of press release for definitions

Conference Call Information

The call is scheduled for Monday, March 8, 2021 at 9:00 am Central Time. Participants may join the live conference call by dialing U.S. (Toll Free): (877) 524-8416 or International: (412) 902-1028 and asking for the “Nine Energy Service Earnings Call”. Participants are encouraged to dial into the conference call ten to fifteen minutes before the scheduled start time to avoid any delays entering the earnings call.

For those who cannot listen to the live call, a telephonic replay of the call will be available through March 22, 2021 and may be accessed by dialing U.S. (Toll Free): (877) 660-6853 or International: (201) 612-7415 and entering the passcode of 13715295.

About Nine Energy Service

Nine Energy Service is an oilfield services company that offers completion solutions within North America and abroad. The Company brings years of experience with a deep commitment to serving clients with smarter, customized solutions and world-class resources that drive efficiencies. Serving the global oil and gas industry, Nine continues to differentiate itself through superior service quality, wellsite execution and cutting-edge technology. Nine is headquartered in Houston, Texas with operating facilities in the Permian, Eagle Ford, SCOOP/STACK, Niobrara, Barnett, Bakken, Marcellus, Utica and Canada.

For more information on the Company, please visit Nine’s website at nineenergyservice.com.

Forward Looking Statements

The foregoing contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that do not state historical facts and are, therefore, inherently subject to risks and uncertainties. Forward-looking statements also include statements that refer to or are based on projections, uncertain events or assumptions. The forward-looking statements included herein are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those forward-looking statements. Such risks and uncertainties include, among other things, the severity and duration of the COVID-19 pandemic, related economic repercussions and the resulting negative impact on demand for oil and gas; the current significant surplus in the supply of oil and the ability of the OPEC+ countries to agree on and comply with supply limitations; the duration and magnitude of the unprecedented disruption in the oil and gas industry currently resulting from the impact of the foregoing factors, which is negatively impacting our business; operational challenges relating to the COVID-19 pandemic and efforts to mitigate the spread of the virus, including logistical challenges, protecting the health and well-being of our employees, remote work arrangements, performance of contracts and supply chain disruptions; pricing pressures, reduced sales, or reduced market share as a result of intense competition in the markets for the Company’s dissolvable plug products; the Company’s ability to implement and commercialize new technologies, services and tools; the Company’s ability to grow its completion tool business; the Company’s ability to reduce capital expenditures; the Company’s ability to accurately predict customer demand; the loss of, or interruption or delay in operations by, one or more significant customers; the loss of or interruption in operations of one or more key suppliers; the adequacy of the Company’s capital resources and liquidity; the incurrence of significant costs and liabilities resulting from litigation; the loss of, or inability to attract, key personnel; the Company’s ability to successfully integrate recently acquired assets and operations and realize anticipated revenues, cost savings or other benefits thereof; and other factors described in the “Risk Factors” and “Business” sections of the Company’s most recently filed Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof, and, except as required by law, the Company undertakes no obligation to update those statements or to publicly announce the results of any revisions to any of those statements to reflect future events or developments.

^AAdjusted EBITDA is defined as net income (loss) before interest, taxes, and depreciation and amortization, further adjusted for (i) property and equipment, goodwill, and/or intangible asset impairment charges, (ii) transaction and integration costs related to acquisitions, (iii) loss or gain on revaluation of contingent liabilities, (iv) gain on the extinguishment of debt, (v) loss or gain on the sale of subsidiaries, (vi) restructuring charges, (vii) stock-based compensation expense, (viii) loss or gain on sale of property and equipment, and (ix) other expenses or charges to exclude certain items which we believe are not reflective of ongoing performance of our business, such as legal expenses and settlement costs related to litigation outside the ordinary course of business. Management believes Adjusted EBITDA is useful because it allows us to more effectively evaluate our operating performance and compare the results of our operations from period to period without regard to our financing methods or capital structure and helps identify underlying trends in our operations that could otherwise be distorted by the effect of the impairments, acquisitions and dispositions and costs that are not reflective of the ongoing performance of our business.

^BAdjusted Net Income (Loss) is defined as net income (loss) adjusted for (i) property and equipment, goodwill, and/or intangible asset impairment charges, (ii) transaction and integration costs related to acquisitions, (iii) restructuring charges, (iv) loss or gain on the sale of subsidiaries, (v) gain on the extinguishment of debt and (vi) tax impact of such adjustments. Management believes Adjusted Net Income (Loss) is useful because it allows us to more effectively evaluate our operating performance and compare the results of our operations from period to period and helps identify underlying trends in our operations that could otherwise be distorted by the effect of the impairments and acquisitions.

^CAdjusted Basic Earnings (Loss) Per Share is defined as adjusted net income (loss), divided by weighted average basic shares outstanding. Management believes Adjusted Basic Earnings (Loss) Per Share is useful because it allows us to more effectively evaluate our operating performance and compare the results of our operations from period to period and help identify underlying trends in our operations that could otherwise be distorted by the effect of the impairments and acquisitions.

^DAdjusted Gross Profit (Loss) is defined as revenues less direct and indirect cost of revenues (excluding depreciation and amortization). This measure differs from the GAAP definition of gross profit (loss) because we do not include the impact of depreciation and amortization, which represent non-cash expenses. Our management uses adjusted gross profit (loss) to evaluate operating performance. We prepare adjusted gross profit (loss) to eliminate the impact of depreciation and amortization because we do not consider depreciation and amortization indicative of our core operating performance.

^EReturn on Invested Capital (“ROIC”) is defined as after-tax net operating profit (loss), divided by average total capital. We define after-tax net operating profit (loss) as net income (loss) plus (i) property and equipment, goodwill, and/or intangible asset impairment charges, (ii) transaction and integration costs related to acquisitions, (iii) interest expense (income), (iv) restructuring charges, (v) loss or gain on the sale of subsidiaries, (vi) gain on extinguishment of debt, and (vii) the provision or benefit for deferred income taxes. We define total capital as book value of equity plus the book value of debt less balance sheet cash and cash equivalents. We compute the average of the current and prior period-end total capital for use in this analysis. Management believes ROIC provides useful information because it quantifies how well we generate operating income relative to the capital we have invested in our business and illustrates the profitability of a business or project taking into account the capital invested. Management uses ROIC to assist them in making capital resource allocation decisions and in evaluating business performance.

Nine Energy Service Investor Contact:
Heather Schmidt
Vice President, Strategic Development, Investor Relations and Marketing
(281) 730-5113
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COLUMBIA, Md.--(BUSINESS WIRE)--GSE Systems, Inc. (“GSE Solutions” or “GSE”) (Nasdaq: GVP), a leader in delivering and supporting engineering, compliance, simulation, training and workforce solutions that support decarbonization of the power industry, today announced that it will be hosting a virtual User’s Conference for existing EnVision On-Demand customers to share best practices and innovative ideas.

The EnVision User’s Conference is scheduled for March 9-10 with the theme Making Our Workforce Better – Together. This will be a truly international conference with attendees from more than ten countries, with some of the world’s largest energy companies attending and sharing their successes using EnVision. The conference is designed to show leaders and users new and innovative ways to use EnVision simulators to promote critical thinking and situational awareness.

EnVision is a Software as a Service (SaaS) workforce development solution. It is used by more than 12,000 people around the world, allowing them to learn and train on critical operations anytime, anywhere. EnVision combines computer-based tutorials with high-fidelity simulation models for industry and academic institutions to safely teach operating fundamentals in addition to specialized operational skills.

“We are dedicated to our customers and helping them achieve operational excellence,” said Kyle Loudermilk, President and CEO of GSE Solutions. “Our EnVision User’s Conferences provide a unique format for our clients to share ideas and best practices for using our products that drive professional development for improved safety in their environment.”

GSE EnVision User’s Conference is for GSE users and invited guests only.

ABOUT GSE SOLUTIONS

We are the future of operational excellence in the power industry. As a collective group, GSE Solutions leverages top skills, expertise, and technology to provide highly specialized solutions that allow customers to achieve the performance they imagine. Our experts deliver and support end-to-end training, engineering, compliance, simulation, and workforce solutions that help the power industry reduce risk and optimize plant operations. GSE is proven, with over four decades of experience, more than 1,100 installations, and hundreds of customers in over 50 countries spanning the globe. www.gses.com

Media Contact
Sunny DeMattio, GSE Solutions
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Investor Contact
Kalle Ahl, The Equity Group
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LONDON--(BUSINESS WIRE)--Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB), is pleased to provide a further update to its previously announced non-binding Letter of Intent with DPN LLC of New York, which set out the terms for Argo to acquire 320 acres of land in West Texas, USA. The Company has now completed the acquisition of DPN LLC and as a result, has acquired the land.

The acquisition of DPN LLC (by way of a merger with a wholly owned subsidiary of Argo) gives Argo access to up to 800-megawatts of electrical power, where Argo intends to build a new 200mw mining facility over the next 12 months. This facility will provide Argo with what it believes are some of the lowest electricity rates in the world, the majority of which is from renewable sources.

The consideration for the acquisition was an initial price of US$5M, satisfied by the issue and allotment to the shareholders of DPN LLC of 3,497,817 new ordinary shares in Argo, with up to a further US$12.5m in shares at a predetermined price being payable if certain contractual milestones related to the facility are fulfilled.

Peter Wall, Chief Executive of Argo Blockchain, said: “Argo’s purchase of land in Texas represents a significant milestone for the Company and is a cause for celebration. It not only gives us greater control over our mining operations but also the ability to meaningfully expand our mining capacity on a large scale. We now have access to some of what we believe is the cheapest renewable energy worldwide, in a location where innovation in new technologies is encouraged and incentivised.”

XMS Capital Partners, LLC acted as a financial advisor to Argo Blockchain in connection with the transaction.

Application will be made for the 3,497,817 new Ordinary Shares to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange. Admission is expected to occur at 8:00 a.m. on 11 March 2021. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following Admission, the total number of Ordinary Shares in issue will be 368,361,690 and the total number of voting rights will therefore be 368,361,690. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.

argoblockchain.com

North America
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Europe
Salamander Davoudi
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Emma Valgimigli
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DUBLIN--(BUSINESS WIRE)--The "Global Market for Hydrogen Fueling Stations, 2021" report has been added to ResearchAndMarkets.com's offering.

With 584 hydrogen stations deployed by year-end 2020, the hydrogen fueling station market is witnessing a dramatic acceleration in growth

The deployments of the stations in several markets are in full swing, solidifying prospects for large-scale consumer adoption of fuel cell vehicles (FCVs).

The deployment activity is particularly brisk in Asia-Pacific, where Japan is the clear leader with close to 150 hydrogen stations deployed. However, the fastest growth is in China where more than a hundred hydrogen stations have gone into operation.

South Korea, Austria and Denmark are the first countries where enough hydrogen stations have been deployed to allow an FCV to travel across the country. In the U.S., hydrogen station deployments in California allow an FCV to travel anywhere in the state and be supported by the hydrogen fueling network.

In Europe, the real charge for hydrogen station deployments has been led by Germany. In addition, France and the Netherlands are seeing a rapid uptake in deployments.

In the U.S., California is seeking to further expand its hydrogen station deployments, and in the northeast, a hydrogen station network is rapidly emerging. In the Midwest, Ohio has seen an uptick in deployments.

As hydrogen fuel cell buses and trucks garner greater market acceptance, hydrogen stations for heavy-duty transportation are increasingly being deployed. In the upcoming years, hydrogen fuel cells will begin to be used to drive trains, aircraft, and maritime vessels, further driving the growth of hydrogen stations.

The sums of money being poured into hydrogen station deployments are staggering, mostly raised through public-private partnerships. The deployments portend well for the uptake of hydrogen fuel cell vehicles, including cars, buses, and trucks. By 2035, hydrogen stations will blanket most of the United States, Western Europe, China, Japan, and South Korea.

In 2020, over 50 percent of the hydrogen stations were in Asia-Pacific, and more than one-third were in Europe.

In 2035, the distribution of hydrogen stations will be more even, but Asia-Pacific will continue to lead the market, followed by Europe.

Key Topics Covered

1. Executive Summary

2. Scope of the Study

3. Hydrogen Fueling Infrastructure

3.1 Global Overview

3.2 Global Deployments

3.3 Organizations

3.3.1 Hydrogen Council

3.3.2 IPHE

4. Asia-Pacific

4.1 Hydrogen Station Deployments

4.2 Organizations

4.2.1 International Hydrogen and Fuel Cell Association

4.2.2 Asia-Pacific Hydrogen Association

4.3 Country Activity

4.3.1 Australia

4.3.2 China

4.3.3 India

4.3.4 Japan

4.3.5 Malaysia

4.3.6 South Korea

4.3.7 Taiwan

4.3.8 Other APAC Countries

5. EMEA

6. Europe (Minus Nordic Countries)

6.1 Deployments

6.2 Organizations

6.2.1 Fuel Cells and Hydrogen Joint Undertaking

6.2.2 Hydrogen Europe

6.2.3 Hydrogen Europe Research

6.2.4 Hydrogen Mobility Europe

6.2.5 COHRS

6.2.6 TEN-T

6.2.7 HIT Project

6.2.8 HIT-2 Project

6.2.9 H2 Nodes

6.2.10 HyFIVE

6.2.11 SWARM

6.2.12 H2FUTURE

6.2.13 High V.LO-City Project

6.2.14 HyFLEET:CUTE

6.2.15 Zero Regio Project

6.2.16 H2PiyR

6.3 Country Activity

6.3.1 Austria

6.3.2 Belgium

6.3.3 Czech Republic

6.3.4 Estonia

6.3.5 France

6.3.6 Germany

6.3.7 Italy

6.3.8 Ireland

6.3.9 Latvia

6.3.10 The Netherlands

6.3.11 Poland

6.3.12 Slovenia

6.3.13 Spain

6.3.14 Switzerland

6.3.15 The U.K.

6.3.16 Other European Countries

7. Nordic Region

7.1 Deployments

7.2 Organizations

7.2.1 Nordic Hydrogen Partnership

7.2.2 Nordic Hydrogen Corridor

7.3 Country Activity

7.3.1 Denmark

7.3.2 Finland

7.3.3 Iceland

7.3.4 Norway

7.3.5 Sweden

8. Middle East & Africa

8.1 Deployments

8.2 Country Activity

8.2.1 Israel

8.2.2 Other MEA Countries

9. The Americas

9.1 Hydrogen Stations Deployments

9.1.1 Market Overview

9.1.2 Hydrogen Highway and Fueling Stations

9.2 Government Policies and Initiatives

9.3 Western U.S.

9.3.1 Overview

9.3.2 Industry Organizations

9.3.3 Government Policies and Initiatives

9.3.4 Hydrogen Station Buildout

9.3.5 Related Initiatives

9.4 Eastern U.S.

9.4.1 Overview

9.4.2 Industry Organizations

9.4.3 Government Policies and Initiatives

9.4.4 Hydrogen Station Buildout

9.5 Canada

9.5.1 Overview

9.5.2 Industry Organizations

9.5.3 Government Policies and Initiatives

9.5.4 Hydrogen Station Buildout

9.5.5 Related Initiatives

9.6 Latin America

9.6.1 Brazil

9.6.2 Other Latin American Countries

10. Hydrogen Station Vendors

10.1 Overview

10.2 Major Companies

10.2.1 Air Liquide

10.2.2 Air Products and Chemicals, Inc.

10.2.3 Ballard Power Systems

10.2.4 British Petroleum

10.2.5 FuelCell Energy, Inc.

10.2.6 Hydrogenics Corporation

10.2.7 ITM Power

10.2.8 The Linde Group

10.2.9 Nel Hydrogen

10.2.10 Nuvera Fuel Cells

10.2.11 Plug Power

10.2.12 Shell

10.2.13 Other Companies

11. Market Forecasts

11.1 Overview

11.2 Hydrogen Station Deployments

11.2.1 Global Hydrogen Station Deployments

11.2.2 APAC Hydrogen Station Deployments

11.2.3 EMEA Hydrogen Station Deployments

11.2.4 Americas Hydrogen Station Deployments

11.3 Hydrogen Station Revenue

11.3.1 Global Revenue of Hydrogen Stations

11.3.2 APAC Hydrogen Station Revenue

11.3.3 EMEA Hydrogen Station Revenue

11.3.4 Americas Hydrogen Station Revenue

12. Conclusions

12.1 Hydrogen as a Fuel

12.2 Rollout of FCVs

12.3 Hydrogen Station Deployments

12.4 Funding Requirements

12.5 Customer Experience

12.6 Other Findings

Companies Mentioned

• Air Liquide
• Air Products and Chemicals, Inc.
• Ballard Power Systems
• British Petroleum
• Chart Industries
• FirstElement Fuel Inc.
• FuelCell Energy, Inc.
• HTEC
• Hydrogenics Corporation
• ITM Power
• Millennium Reign Energy
• Nel Hydrogen
• Nuvera Fuel Cells
• PitPoint Clean Fuels
• Plug Power
• PowerTap Hydrogen Fueling Corp.
• Powertech Labs Inc.
• Resato
• Shanghai Hyfun
• Shell
• The Linde Group

For more information about this report visit https://www.researchandmarkets.com/r/p7hagx

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Appirio, a Wipro Company, recognized with Salesforce Partner Innovation Award

INDIANAPOLIS--(BUSINESS WIRE)--#Appirio--Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that Appirio, a Wipro company, is helping National Grid transform its business with an omnichannel customer experience by unifying its engagement with 68 million customers across two continents.

This global hybrid integration platform was recognized both for its positive business impact and for being among the first implementations of Runtime fabric for MuleSoft in the U.S. For this innovative work, Appirio has also been named the recipient of the Salesforce Partner Innovation Award for MuleSoft.

Appirio continues to work with National Grid to create a unified customer experience for 8 million customers across three U.S. states, five clouds, and eight subsidiary companies, as well as 60 million customers in the U.K. Working in a complex regulatory environment, Appirio is connecting multiple marketing channels, eliminating legacy system data silos, and extending its reach to customers and call centers with MuleSoft and reusable Application Programming Interface (APIs).

"More companies are recognizing the power of connected experiences. MuleSoft provides the scale and flexibility they would need to connect disparate systems,” said Hari Raja, Vice President, iDEAS - Apps and Data, Wipro Limited. “Our industry accelerators, delivery models, and MuleSoft expertise are helping enterprises achieve faster time to market and reduced operational costs. National Grid's phenomenal growth has coincided with one of the fastest-growing practices in the MuleSoft Partner Network. We thank Salesforce and MuleSoft for recognizing Appirio's contributions to these results, and we look forward to continuing to support National Grid and other customers in every step of their growth journey.”

“Congratulations to the Wipro/Appirio team for winning the prestigious Salesforce Innovation Award for MuleSoft,” said Amarendar Bura, Senior Director IT, Solutions Engineering CRM, and Digital Enablement, National Grid. “Very proud of what we achieved here at National Grid with your support in the last year, and how we continue to mature MuleSoft as our middleware platform powering API strategy to enable our digital transformation journey! This would not have been possible without a great partnership with Appirio/Wipro teams. Proud to work with this Rockstar team!”

“It’s inspiring to see Partner Innovation Award winners such as Appirio drive success for customers by delivering a unified 360 experience using a hybrid integration platform,” said Tyler Prince, Executive Vice President, Worldwide Alliances & Channels, Salesforce. “Now more than ever, companies need to accelerate their digital transformations—and trusted partners can elevate success for customers across industries.”

Salesforce, MuleSoft and others are among the trademarks of salesforce.com, inc.

About National Grid

National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York, Massachusetts, and Rhode Island. National Grid is transforming our electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to meet the goal of reducing greenhouse gas emissions.

For more information, please visit our website, follow us on Twitter, watch us on YouTube, friend us on Facebook, and find our photos on Instagram.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 190,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.

Forward-Looking Statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry. The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

Nisha Chandrasekaran
Wipro Limited
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BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”), an innovation-driven company in the fuel cell and hydrogen technology space, today announced that it has signed an eight-year lease for 21,401 square feet in the heart of Boston’s innovation and R&D community at Hood Park in Charlestown, MA (www.hoodpark.com).

The purpose of the new Advent Technologies facility is to accelerate product development on recent next-generation membrane electrode assembly (MEA) initiatives, including high-temperature polymer electrolyte membrane (HT-PEM) fuel cell technology for the automotive industry. HT-PEM represents not only a breakthrough technology for heavy-duty automotive but also for aviation, portable, and off-grid power generation applications. Advent is actively recruiting engineers and technicians for its new facility in Boston, expanding its Northeast operations, and increasing engineering personnel and other expertise at UltraCell’s facilities in Livermore, California.

Advent’s new facility at Hood Park is being custom built as a product development and manufacturing center, and will include:

• State-of-the-art coating machines for seamless transition from prototypes to production runs for advanced membranes and electrodes;
• A fully analytical facility for quality control, failure analysis and improving product lifetime;
• Dozens of fuel cell test stations for statistical process control and development of next generation MEA materials;
• A mechanical engineering lab for developing automated processes for membrane electrode assembly.

Jim Coffey, Advent’s Chief Operating Officer and General Counsel, commented: “After a thorough process, we selected Massachusetts and Hood Park for our new state-of-the-art manufacturing facility given the close proximity to top research universities and access to a wide pool of intellectual talent. The offices we recently leased at 200 Clarendon Street in Boston will serve as our global business headquarters, while Hood Park will be our product development facility.”

Dr. Vasilis Gregoriou, Advent’s Chief Executive Officer and Founder, added: “Since going public, we have witnessed a significant interest by industry for HT-PEM fuel cell technology. Following up on our goal of entering into joint development agreements with major Tier1 and original equipment manufacturers (OEMs) in the United States, we are accelerating our product development efforts. The addition of the Hood Park facility comes at the right time and will be a significant addition to Advent’s efforts to becoming a global green energy company with state-of-the-art products.”

Chris Kaneb, Manager, Hood Park LLC, stated, “We’re excited to welcome Advent Technologies to Hood Park where they complement our growing community of tenants who are leaders in the development of sustainable technology and scientific research.”

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is an innovation-driven company in the fuel cell and hydrogen technology space. Our vision is to accelerate electrification through advanced materials, components, and next-generation fuel cell technology. Our technology applies to electrification (fuel cells) and energy storage (flow batteries, hydrogen production) markets, which we commercialize through partnerships with Tier1s, OEMs, and System Integrators. For more information on Advent Technologies Holdings, Inc., please visit the company’s website at https://www.advent.energy/

Sloane & Company
Joe Germani / Alex Kovtun / James Goldfarb
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HOUSTON--(BUSINESS WIRE)--$NEXT #LSTKEPC--NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) and Bechtel Oil, Gas, and Chemicals, Inc. (Bechtel) have completed a pricing refresh on the fully wrapped lump-sum turnkey (LSTK) engineering, procurement, and construction agreements for the first three trains at NextDecade’s Rio Grande LNG project (EPC Agreements) resulting in no impact to the overall cost of the project. The pricing in the EPC Agreements is now valid until December 31, 2021. Additionally, NextDecade and Bechtel agreed to extend the validity of the EPC Agreements until July 31, 2022.

“We value our strong partnership with Bechtel, the world’s leading LNG EPC contractor,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “Our global LNG customers, feed gas suppliers, and other stakeholders can have the utmost confidence in the on-time and on-budget delivery of our Rio Grande LNG project. We are pleased to continue to progress our engineering and procurement activities under limited notices to proceed, and we look forward to providing Bechtel with a full notice to proceed with the development of this world-class project immediately following FID.”

NextDecade anticipates achieving a final investment decision on a minimum of two trains at Rio Grande LNG in 2021.

About NextDecade Corporation

NextDecade Corporation (NextDecade) is a liquefied natural gas (LNG) company focused on delivering the 27 mtpa Rio Grande LNG export facility in South Texas. Rio Grande LNG will be the largest U.S. LNG export solution linking Permian Basin and Eagle Ford Shale natural gas to the global LNG market. Utilizing carbon capture and storage technology and proprietary processes, NextDecade is targeting carbon neutrality at Rio Grande LNG. 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; 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

CARSON CITY, Nev.--(BUSINESS WIRE)--PICO Holdings, Inc. announced that its Board of Directors has amended the Company’s Certificate of Incorporation and Bylaws and changed the name of the Company to Vidler Water Resources, Inc. with effect from March 8, 2021. The Company also announced, concurrent with the change of name of the corporation, it has changed its ticker symbol to VWTR on the Nasdaq Global Market, effective March 9, 2021. The Company also announced its reported results for the fourth quarter ended December 31, 2020. Our reported shareholders’ equity was $178.3 million ($9.59 per share) at December 31, 2020, compared to $178.3 million ($9.01 per share) at December 31, 2019.

Fourth Quarter Results of Operations

Our fourth quarter results of operations were as follows (in thousands):

Full Year Results of Operations

Our full year results of operations were as follows (in thousands):

Vidler Water Resource’s President and Chief Executive Officer, Dorothy Timian - Palmer, commented:

“Our 2020 results were, as in 2019, driven by sales transactions closed in all our service areas and reflect the demand in these high growth and water - scarce regions for long - term sustainable water resources. Our aggregate revenue of $9.6 million in 2020 was comprised mainly from sales of our water rights inventory in northern Nevada and New Mexico. Further sales in the first quarter of 2021, that have either occurred or will shortly close, from our water assets at Dodge Flat, Nevada and the Middle Rio Grande, New Mexico, totaling $2.6 million, means that we have now sold all of our assets in these two locations.

“As evidenced by the reduction in year over year revenue, our sales transactions can vary significantly across reporting periods. However, we believe our portfolio of sustainable water assets throughout the Southwest U.S. can provide residential and commercial developers with one of the few available assured water supplies they require to advance their projects in an environmentally conscious manner. We believe that it is important that the developments that bring growth and economic benefits to local communities are done using sustainable resources. Given the continued growth in demand throughout the Southwest U.S. for assured water supplies – arising from population and economic growth – we believe the continued monetizations of our water assets portfolio will provide an attractive return to investors through a stream of cash flows returned to shareholders. In addition, it appears that our real estate properties in Arizona, have the potential to become alternative energy sites due to their location near existing transmission, fiber optic, and natural gas lines as well as transportation corridors. We continue to explore these opportunities which may provide additional sources of on-going future cash flows.

“Furthermore, due to our existing net operating losses as of December 31, 2020 of $155.3 million, we believe the corporate tax on earnings we generate from future assets sales can be offset by loss carry forwards for the next several years. This will be particularly valuable in the future if the corporate tax rate is increased from the current rate. These savings provide more capital that can be returned to our shareholders as we intend to do under our current business plan. We have generated cumulative book income over the past three years and, given our outlook for future transactions, as of December 31, 2020 we released a portion of our total deferred tax valuation allowance and recorded a deferred tax asset on our balance sheet of $9.3 million.

“Our total costs, excluding cost of sales, for 2020 were $7 million compared to $9.4 million for 2019. These costs include all our acquisition, selling and project costs, including significant legal fees incurred in 2020 as a result of protecting our water rights and applications in Kane Springs, Lincoln County in southern Nevada. These costs also include the costs of operating Fish Springs Ranch in northern Nevada. Clearly, our main focus at Fish Springs Ranch is the sale of our sustainable water rights to developers in the North Valleys region of Reno, Nevada. However, we have been successful in generating different income streams from Fish Springs Ranch to help offset our operating costs and in 2020, in addition to our traditional agricultural income from the ranch, we entered in to a long – term lease of some of our property with an alternative energy provider. We are also exploring opportunities to lease or sell a small portion of our total inventory of water rights at Fish Springs Ranch to Truckee Meadows Water Authority (“TMWA”) as well as other governmental agencies and private water users in the region outside of our service area in the North Valleys. We believe this arrangement, if finalized, demonstrates the benefit of the deep relationships we have with the stakeholders in the Reno community. If we are successful, this arrangement would not only allow us to facilitate the delivery of water to consumers beyond our current service area in the North Valleys but also assist TMWA and other governmental agencies to establish a more certain supply of water to the region for both environmental and growth purposes, as well as a back-up supply for dry years. Our aim is to keep our annual net operating costs (which we define as all costs not directly associated with asset monetizations or acquisitions net of operating income such as agricultural and lease income) as low as possible while we monetize and develop our water asset portfolio over the next several years. Our budget for net operating costs in 2021 is $5.2 million compared to actual net operating costs of $5.6 million in 2020.

“Our capital allocation in 2020 was exclusively focused on repurchasing shares and reflects our Board’s belief that, at current market prices, our stock is significantly undervalued from our estimates of its intrinsic value and, consequently, repurchases should be beneficial to our continuing shareholders. In 2020 we repurchased a total of 1,199,357 shares for $10.4 million ($8.65 per share). From inception of the repurchase program (March 2017) to date we have repurchased a total of 4,702,464 shares for $49.2 million ($10.47 per share). This year’s repurchases are partly responsible for our book value per share increasing to $9.59 at December 31, 2020 from $9.01 at December 31, 2019 despite overall shareholders’ equity essentially remaining unchanged in 2020.

“Finally, our operations are, and have been for a few years, solely focused on the development and sale of our sustainable water assets portfolio at Vidler Water Company. To better reflect the Company’s mission, brand and business plan, the Board has changed the name of the Company to Vidler Water Resources, Inc. and our Nasdaq ticker symbol will change to VWTR. We believe this name change will better highlight our long-standing environmental, social and governance (ESG) principles. Our mission, and indeed the laws under which we operate, require that our assets are sustainable and provide a beneficial use to the citizens of the regions we serve.”

About Vidler Water Resources, Inc.

As of December 31, 2020, our primary holding was Vidler Water Company, Inc. (“Vidler”), a water resource and water storage business, with assets and operations primarily in the Southwestern U.S.

Our business is to source, develop and provide sustainable potable water resources to fast-growing communities throughout the Southwest U.S. that lack, or are running short of, available water resources.

We conduct our business by working closely with many constituents in these communities: regulators, utilities, Native North American tribes, community leaders, residential and commercial developers and alternative energy companies. We ensure the water resources we develop and sell are sustainable and provide benefit to the citizens of the communities and regions we serve.

Currently, we believe the highest potential return to shareholders is from a return of capital. As we monetize our water and real estate assets, rather than reinvest the proceeds, we intend to return capital to shareholders through a stock repurchase program or by other means such as special dividends. Nonetheless, we may, from time to time, reinvest a portion of proceeds from asset monetizations in further development of existing assets, if we believe the returns on such reinvestment outweigh the benefits of a return of capital.

OTHER INFORMATION

At December 31, 2020, we had a market capitalization of $173.8 million, and 18,583,366 shares outstanding.

We remind all of our stockholders that questions regarding our operations may be submitted to This email address is being protected from spambots. You need JavaScript enabled to view it., and, if appropriate, we will post on our website responses to these questions.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains statements that may constitute forward-looking statements, which are based on information currently available, usually identified by words such as "anticipates," "believes," "estimates," "plans,'' "projects," "expects," "hopes," "intends," "strategy," ''focus," "outlook," "will," "could," "should," "may," "continue," or similar expressions, which speak only as of the date the statement was made. Such statements are forward-looking statements and are 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, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical or current fact, are statements that could be deemed forward-looking statements, including without limitation statements regarding our business objectives, our ability to monetize our water resources, the future demand for our water resources, our ability to reduce net operating cash use, our ability to source additional revenue streams, our ability to preserve and utilize NOLs to offset taxable income and reduce our federal income liability, and our ability to monetize assets and return capital to shareholders through stock repurchases or through other means. The forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties.

A number of other factors may cause actual results to differ materially from our expectations, such as: any slow down or downturn in the housing or in the real estate markets in which Vidler operates; fluctuations in the prices of water and water rights; physical, governmental and legal restrictions on water and water rights; a downturn in some sectors of the stock market; general economic conditions; the impacts of the COVID-19 global pandemic on the demand for real estate, the pace of real estate development, and demand for water resources to support residential and commercial real estate development; prolonged weakness in the overall U.S. and global economies; the performance of the businesses in which Vidler operates; the continued service and availability of key management personnel; and potential capital requirements and financing alternatives.

For further information regarding risks and uncertainties associated with our business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of our SEC filings, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, copies of which may be obtained by contacting us at (775) 885-5000 or at http://vidlerwater.com.

We undertake no obligation to (and we expressly disclaim any obligation to) update our forward-looking statements, whether as a result of new information, subsequent events, or otherwise, in order to reflect any event or circumstance which may arise after the date of this press release, except as may otherwise be required by law. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Dorothy Timian-Palmer
President and Chief Executive Officer
(775) 885-5000

HOUSTON--(BUSINESS WIRE)--$NEXT #LNG--NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) and Bechtel Oil, Gas, and Chemicals, Inc. (Bechtel) have completed a pricing refresh on the fully wrapped lump-sum turnkey (LSTK) engineering, procurement, and construction agreements for the first three trains at NextDecade’s Rio Grande LNG project (EPC Agreements) resulting in no impact to the overall cost of the project. The pricing in the EPC Agreements is now valid until December 31, 2021. Additionally, NextDecade and Bechtel agreed to extend the validity of the EPC Agreements until July 31, 2022.

“We value our strong partnership with Bechtel, the world’s leading LNG EPC contractor,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “Our global LNG customers, feed gas suppliers, and other stakeholders can have the utmost confidence in the on-time and on-budget delivery of our Rio Grande LNG project. We are pleased to continue to progress our engineering and procurement activities under limited notices to proceed, and we look forward to providing Bechtel with a full notice to proceed with the development of this world-class project immediately following FID.”

NextDecade anticipates achieving a final investment decision on a minimum of two trains at Rio Grande LNG in 2021.

About NextDecade Corporation

NextDecade Corporation (NextDecade) is a liquefied natural gas (LNG) company focused on delivering the 27 mtpa Rio Grande LNG export facility in South Texas. Rio Grande LNG will be the largest U.S. LNG export solution linking Permian Basin and Eagle Ford Shale natural gas to the global LNG market. Utilizing carbon capture and storage technology and proprietary processes, NextDecade is targeting carbon neutrality at Rio Grande LNG. 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; 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

DUBLIN--(BUSINESS WIRE)--The "Innovative Business Models Focused on Digital Solutions Offer New Opportunities in the North American Positive Displacement Pumps Market" report has been added to ResearchAndMarkets.com's offering.

The main objective of this growth opportunity analysis is to assess the impact of market trends and challenges influencing growth prospects for positive displacement (PD) pump original equipment manufacturers (OEMs) in the next 5 years.

As business uncertainty becomes an inevitable factor, end users across industry verticals are revisiting their strategies to adapt to the new market conditions. The unpredicted outbreak of Coronavirus 2019 (COVID-19) and its consequent impact on slowing down global manufacturing, which is also being interpreted as the COVID-19 induced economic recession, has severely affected the performance of pump OEMs' North American business in 2020.

Oil prices reached their lowest level in history, worsening of US-China trade relations, closure of rigs by small oil enterprises, and massive job cuts in both the United States and Canada have contributed to the decrease in sales of PD pumps in North America.

Some of the key trends analyzed in this study include the Industrial Internet of Things (IIoT) and digital transformation, energy efficiency, impact of oil prices, and the US-China trade war. IIoT is one of the key trends affecting manufacturers as end users continue to emphasize improvements to plant maintenance as well as a reduced operational expenditure (OPEX).

As companies realize that the future of manufacturing will be driven by IIoT, they will begin to look at data ownership, security, integration with existing infrastructure, and return on investment (ROI).

Importantly, this research offers 5 lucrative growth opportunities for pump OEMs to consider in the North American market. Frost & Sullivan considers these 5 growth opportunities as key enablers that will unlock new revenue streams and deliver differentiating pump products and services.

This research embraces a specific methodology that includes discussions with senior management of PD pump manufacturers and is supported by secondary research.

Research Highlights

• Analyzing demand patterns for PD pumps in the region
• Focusing on end-user verticals including oil & gas, chemicals, water & wastewater, power generation, metals & mining, construction, food & beverage, and pharmaceuticals
• Examining new product capabilities: energy-efficient pumps, smart pumps, and pump monitoring solutions

Key Issues Addressed

• What is the current size of the North American positive displacement pumps market? Is it expected to grow between 2020 and 2025?
• What is the impact of the COVID-19 pandemic on the market? When is the market expected to recover from the impact?
• What are the key drivers and restraints that will impact market growth prospects over the next 5 years?
• What are the primary growth opportunities that market participants can leverage to unleash new revenue streams?
• Which industries are expected to boost pump demand and which pump type will witness the highest growth?
• What is the competitive landscape like? Who are the key participants?
• Are manufacturers likely to move to new business models? Are they likely to benefit from them?

Key Topics Covered:

1. Strategic Imperatives

• Why Is It Increasingly Difficult to Grow?
• The Strategic Imperative
• The Impact of the Top Three Strategic Imperatives on the North American PD Pumps Industry
• Growth Opportunities Fuel the Growth Pipeline Engine

2. Growth Opportunity Analysis, North American Positive Displacement Pumps Market

• Positive Displacement Pumps Market, Scope of Analysis
• Positive Displacement Pumps, Market Segmentation
• Key Competitors for the North American Positive Displacement Pumps Market
• Key Growth Metrics for the North American Positive Displacement Pumps Market
• Distribution Channels, North American Positive Displacement Pumps Market
• Growth Drivers for the North American Positive Displacement Pumps Market
• Growth Restraints for the North American Positive Displacement Pumps Market
• Forecast Assumptions, North American Positive Displacement Pumps Market
• Revenue Forecast, North American Positive Displacement Pumps Market
• Revenue Forecast by Product, North American Positive Displacement Pumps Market
• Revenue Forecast by Sub-Product, North American Positive Displacement Pumps Market
• Revenue Forecast by Industry Vertical, North American Positive Displacement Pumps Market
• Revenue Forecast Analysis, North American Positive Displacement Pumps Market
• Revenue Forecast Analysis by Product and Sub-Product, North American Positive Displacement Pumps Market
• Revenue Forecast Analysis by Industry Vertical, North American Positive Displacement Pumps Market
• Pricing Trends and Forecast Analysis, North American Positive Displacement Pumps Market
• Competitive Environment, North American Positive Displacement Pumps Market
• Market Share, North American Positive Displacement Pumps Market
• SWOT Analysis of Key Participants, North American Positive Displacement Pumps Market

3. Growth Opportunity Analysis, Reciprocating Pumps

• Key Growth Metrics for Reciprocating Pumps
• Revenue Forecast, Reciprocating Pumps
• Percent Revenue by Industry Vertical and Sub-Product, Reciprocating Pumps
• Revenue Forecast Analysis, Reciprocating Pumps

4. Growth Opportunity Analysis, Rotary Pumps

• Key Growth Metrics for Rotary Pumps
• Revenue Forecast, Rotary Pumps
• Percent Revenue by Industry Vertical and Sub-Product, Rotary Pumps
• Revenue Forecast Analysis, Rotary Pumps

5. Growth Opportunity Universe, Positive Displacement Pumps Market

• Growth Opportunity 1 - Integration of IIoT Technology to Deliver Energy-efficient Pumps, 2020-2025
• Growth Opportunity 2 - Redefine Value Proposition with Pumps-as-a-Service Business Model, 2020-2025
• Growth Opportunity 3 - Expand Service Offerings with Managed Contracts, 2020-2025
• Growth Opportunity 4 - Enabling Integrated Supply Chain Network with IIoT, 2020-2025
• Growth Opportunity 5 - Water & Wastewater, Food & Beverage, and Pharmaceuticals are Lucrative End-user Segments, 2020-2025

6. Appendix

• List of Participants

7. Next Steps

For more information about this report visit https://www.researchandmarkets.com/r/g7lee8

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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GumboNet ESG Ties Real-Time Operational Data to Blockchain-Powered Smart Contracts for Fast, Accurate, Verifiable Environmental Performance Monitoring

Automated Reporting Based on Sustainability Accounting Standards Board (SASB) Framework for Scalable, Trustworthy Insights

HOUSTON--(BUSINESS WIRE)--#ESG--Data Gumbo, provider of GumboNet™ — the massively interconnected industrial smart contract network secured and powered by blockchain, today announced GumboNet ESG, the automated and accurate sustainability measurement solution that ties a company’s operational data to environmental, social and governance (ESG) standards reporting. The result is real-time verifiable environmental performance monitoring, setting a new bar for transparency to satisfy investors, regulators and other stakeholders’ desire for faster and better environmental impact data. GumboNet ESG utilizes the Sustainability Accounting Standards Board (SASB) framework with a specific smart contract to create automated ESG reports.

“GumboNet ESG provides the ability to execute a company’s monitoring of sustainability goals over time across their supply chain, providing trustworthy and auditable reports for the market against the credible and widely used SASB standards,” said Andrew Bruce, Founder and CEO of Data Gumbo. “It’s a new dawn for reliable and automated environmental impact measurements based on smart contracts powered and secured by blockchain.”

Sustainability Data Growing Pains and the Power of GumboNet ESG

The need to reduce their carbon footprint is forcing companies to examine the quality, quantity and timeliness of their data to satisfy investors, regulators, lenders and other stakeholders. Yet monitoring ESG measurement consumes human capital, time and financial resources without the guarantee of accuracy or repeatability. GumboNet ESG allows companies to automate reporting with the promise of accurate measurements from the field, simplifying historically inaccurate self-reporting practices, and supporting standardization in accordance with SASB Standards.

“Data Gumbo is poised to address sustainability measurement growing pains with near real-time environmental data from the field,” said Jeff Cohen, CAIA, Director of Capital Markets Integration. “GumboNet ESG stands to enable accurate, automated measurement by industrial sectors as to their carbon emissions, while saving time, human capital and money. This solution supports better reporting into SASB standards in a way that could ultimately scale to all sectors of the economy.”

As a neutral third-party, GumboNet reaches across data sources, silos and counterparty information in a supply chain, capturing and verifying real-world events and services as they unfold with a corroborated, auditable record. This data used by companies in GumboNet smart contracts to automate invoicing and payments and wring out process inefficiencies is the same data needed to measure sustainability such as carbon emissions. In effect, sustainability measurement is paid for by removing waste from the supply chain. GumboNet ESG is available as a configurable smart contract, and taps a company's own operational Industrial Internet of Things (IIoT) field data and that of their supply chain’s to produce an accurate picture of environmental impact.

“Our smart contract network is extremely efficient in its ability to track, report and audit the carbon footprint across supply chains. This is based on field data and facts, not estimates, as it’s also the data that companies are invoicing with and paying bills off. GumboNet ESG empowers companies to tackle previously nonexistent, difficult or subpar measurement strategies around emissions and carbon tracking, providing the trust required for accurate, provable — not estimated — ESG reporting,” said Bruce.

Data Gumbo customers will have access to the GumboNet ESG as part of their GumboNet subscription to automate commercial transactions. GumboNet ESG licenses and applies the Sustainability Accounting Standards Board (SASB) Materiality Map® and full standards in its work.

About Data Gumbo

Data Gumbo is a Houston-headquartered technology company that provides GumboNet™ — the massively interconnected industrial smart contract network secured and powered by blockchain. With integrated real-time capabilities that automate and execute smart contracts, GumboNet reduces contract leakage, frees up working capital, enables real-time cash and financial management and delivers provenance with unprecedented speed, accuracy, visibility and transparency. Beyond its Houston office, the company has subsidiary offices in Stavanger, Norway, and in London, UK. To date, the company has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator. Data Gumbo was recognized as the Disruptive Innovator in the Forbes Energy Awards 2020 and was named to CB Insights Blockchain 50, among other awards. For more information, visit www.datagumbo.com or follow on LinkedIn, Twitter and Facebook.

About SASB

The Sustainability Accounting Standards Board (SASB) connects businesses and investors on the financial impacts of sustainability. SASB Standards enable businesses around the world to identify, manage, and communicate financially material sustainability information to investors. SASB Standards are industry-specific and are designed to be decision-useful for investors and cost-effective for companies. They are developed using a process that is evidence based and market informed. The standards cover business activities that, when managed effectively, avoid or reduce harm, benefit stakeholders, and contribute to solutions for a just and sustainable world. To download any of the 77 industry-specific standards, or learn more about SASB, please visit SASB.org.

Media contact:
Gina Manassero
Data Gumbo
VP of Communications
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The company makes donations to the Houston Harris County Winter Storm Relief Fund and the Houston Food Bank.

HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) announced today it is contributing a total of $450,000 to winter storm relief and recovery efforts across Houston, with $250,000 going to the Houston Harris County Winter Storm Relief Fund and $200,000 going to the Houston Food Bank.

“We are very grateful for the organizations that stepped up and helped millions of Houstonians who struggled to keep themselves and their families warm and fed when the winter storm hit,” said Phillips 66 Chairman and CEO Greg Garland. “These groups have been on the frontline helping communities hit by the pandemic, too, and Phillips 66 is proud to support their efforts.”

Thousands of Houstonians are still without running water two weeks after the storm. The Houston Harris County Winter Storm Relief Fund, established by the City of Houston and Harris County, helps support recovery efforts. It provides grants to nonprofits focused on plumbing and home repairs, temporary housing and other basic needs. The fund is managed by the Greater Houston Community Foundation and United Way of Greater Houston.

“There are so many in our community who were impacted by the Texas severe winter storm, including many who were already struggling from the pandemic and its economic impact,” said United Way of Greater Houston President and CEO Amanda McMillian. “We are incredibly grateful for Phillips 66’s generosity.”

The Houston Food Bank, the largest in the nation, serves 18 counties in the Houston area and has been a critical lifeline to those struggling due to the pandemic. It served more than 104,000 households in January, and in February prepared and distributed meals to shelters and warming centers during the storm.

“The COVID-19 pandemic has had an enormous impact on our communities and now they are facing additional hardships from this most recent disaster,” said Houston Food Bank President and CEO Brian Greene. “This gift from Phillips 66 will provide access to 600,000 meals for people in need in our community. We thank them for their continued support to help us provide food for better lives.”

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,300 employees committed to safety and operating excellence. Phillips 66 had $55 billion of assets as of Dec. 31, 2020. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.

Allison Stowe, 855-841-2368 (media)
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COLUMBUS, Ind.--(BUSINESS WIRE)--Global power leader Cummins Inc. (NYSE: CMI) and Cummins Westport Inc. announced today that the ISX12N+Endurant HD N powertrain from its Integrated power portfolio is now available for heavy-duty customers, delivering a fully integrated natural gas powertrain. The combination of the ISX12N near zero natural gas engine and the Endurant HD N 12-speed automated transmission from Eaton Cummins Automated Transmission Technologies is well suited for heavy-duty regional haul fleets looking to lower emissions and improve their sustainability profile.

“The ultra-low emissions of the ISX12N combined with the Endurant HD N transmission provides the optimal powertrain solution for customers working to lower their carbon footprint,” said Thomas R. Hodek, President of Cummins Westport. “The deep powertrain integration delivers improved launch, low speed maneuverability, and smoother shifts that drivers will appreciate.”

When paired with the Endurant HD N automated transmission, the ISX12N natural gas engine is available with a rating of 400 horsepower and 1,450 lb-ft torque and can operate with 100% compressed natural gas (CNG), liquid natural gas (LNG) or renewable natural gas (RNG). This reduces smog-forming NOx emissions by 90% compared to the current Environmental Protection Agency (EPA) standard. When operated using RNG, the system is credited with a neutral to negative carbon index, resulting in net greenhouse gas (GHG) emissions at or below zero.

The new Endurant HD N automated transmission was optimized for integration with the ISX12N natural gas engine and features new software functionality and calibrations, and a new diaphragm spring clutch designed to meet the load requirements of the natural gas engine while protecting the engine for optimal performance.

The integration between the engine and transmission results in improved launch performance, improved low-speed maneuverability and smoother shifts when compared to previous natural gas engines and automated manual transmission combinations.

Inquiries regarding OEM availability may be made with your preferred OEM or dealer.

About Cummins Inc.

Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 57,800 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $1.8 billion on sales of $19.8 billion in 2020. Learn more at cummins.com.

About Eaton Cummins Automated Transmission Technologies

Eaton Cummins Automated Transmission Technologies is a 50/50 joint venture between Eaton (NYSE: ETN) and Cummins, Inc. (NYSE: CMI). The global joint venture produces and markets industry-leading, heavy-duty automated transmissions for commercial vehicles. For more information visit www.eatoncummins.com.

About Cummins Westport Inc.

Cummins Westport Inc. designs, engineers and markets 5.9 to 12 liter spark-ignited natural gas engines for North American commercial transportation applications such as trucks and buses. Cummins Westport is a joint venture of Cummins Inc. (NYSE:CMI), a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems, and Westport Fuel Systems Inc. (NASDAQ: WPRT / TSX: WPRT), a global leader in alternative fuel, low-emissions technologies that allow engines to operate on clean-burning fuels such as compressed natural gas (CNG), liquefied natural gas (LNG), Propane (LPG), hydrogen, and biofuels such as landfill gas.

Jon Mills
Director – External Communications
(317) 658-4540
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• Leading industry association recognizes Schneider Electric’s innovative solutions for next-generation energy monitoring and control capabilities
• Scalable grid-to-plug solutions offers enhanced energy management for backup power, battery storage, solar and more for the modern home

BOSTON--(BUSINESS WIRE)--#LifeIsOn--Schneider Electric, the leader in the digital transformation of energy management and automation, today announced its Square D™ Energy Center was selected as the winner of the 2020 National Association of Home Builders (NAHB) Global Innovation Award (GIA). The Square D™ Energy Center, powered by Wiser Energy intelligence, took home the Product of the Year award for its ability to create a smarter, safer, and more connected home.

NAHB's Global Innovation Awards honor the most innovative products, services, homes and communities in the global residential building industry – from new augmented reality technology to ultra-efficient HVAC units and everything in between.

The Square D™ Energy Center is an all-in-one home energy system that provides unprecedented residential insights and monitoring capabilities into residential energy use. Users can monitor and custom-control energy use from across a home’s entire ecosystem with a single app, as well as enable instantaneous backup power from batteries, and generators. With this industry leading technology, home builders are differentiating their offer while providing homeowners the ability to make sustainable energy choices and power what matters the most – even during an outage.

“Our generation is faced with an unprecedented energy crisis, and households account for a staggering one-third of all greenhouse gas emissions. As an industry leader, we are focused on innovations for home builders that will ensure homes of the future are more sustainable, energy efficient, and resilient,” said Richard Korthauer, Vice President, Home & Distribution, Schneider Electric. “We are proud that the NAHB has recognized the Square D Energy Center as we work with home builders nationwide to incorporate technologies to futureproof homes by making them sustainable and more resilient.”

Code-compliant, energy-efficient system that is easy to install

The way a home sources and uses energy is changing. Square D™ Energy Center makes it easy for home builders to get ahead of their competition and install transformative technology from a company they already know and trust.

The stylish, smart and code-compliant system, powered by Wiser Energy intelligence, integrates an array of smart home technology from grid to plug and also includes the safety of whole-home surge protection for greater energy savings and homeowner piece of mind. The Square D™ Energy Center seamlessly enables the convergence, scalability, and optimization of residential distributed energy resources, including utility power, solar power, energy storage, future smart home devices and generators. Further, this new solution allows home builders to easily address changing building regulations, including California’s Title 24 Building Energy Efficiency Standards.

To learn more about the 2020 NAHB Global Innovation Award and see the full list of winners, check out: www.nahb.org/nahb-community/awards/global-innovation-award.

For more information on The Square D Energy Center, please visit: https://www.se.com/us/en/home/offers/connected-home/energy-center

About National Association of Home Builders

The National Association of Home Builders is a Washington-based trade association representing more than 140,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 700 state and local home builder associations around the country. NAHB's builder members will construct about 80 percent of the new housing units projected for this year.

About Schneider Electric

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

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

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

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

www.se.com

Discover Life Is On

Hashtags: #LifeIsOn #SmartHome #SquareD #NAHB

Schneider Electric Media Relations
Thomas Eck, Phone: 919-266-8623; This email address is being protected from spambots. You need JavaScript enabled to view it.

PR agency for Schneider Electric
LEWIS Communications; Phone: 774-826-5391; This email address is being protected from spambots. You need JavaScript enabled to view it.

NEEDHAM, Mass.--(BUSINESS WIRE)--#CO2reduction--A new forecast from International Data Corporation (IDC) shows that the continued adoption of cloud computing could prevent the emission of more than 1 billion metric tons of carbon dioxide (CO2) from 2021 through 2024.

The forecast uses IDC data on server distribution and cloud and on-premises software use along with third-party information on datacenter power usage, carbon dioxide (CO2) emissions per kilowatt-hour, and emission comparisons of cloud and non-cloud datacenters.

A key factor in reducing the CO2 emissions associated with cloud computing comes from the greater efficiency of aggregated compute resources. The emissions reductions are driven by the aggregation of computation from discrete enterprise datacenters to larger-scale centers that can more efficiently manage power capacity, optimize cooling, leverage the most power-efficient servers, and increase server utilization rates.

At the same time, the magnitude of savings changes based on the degree to which a kilowatt of power generates CO2, and this varies widely from region to region and country to country. Given this, it is not surprising that the greatest opportunity to eliminate CO2 by migrating to cloud datacenters comes in the regions with higher values of CO2 emitted per kilowatt-hour. The Asia/Pacific region, which utilizes coal for much of its' power generation, is expected to account for more than half the CO2 emissions savings over the next four years. Meanwhile EMEA will deliver about 10% of the savings, largely due to its use of power sources with lower CO2 emissions per kilowatt-hour.

While shifting to cleaner sources of energy is very important to lowering emissions, reducing wasted energy use will also play a critical role. Cloud datacenters are doing this through optimizing the physical environment and reducing the amount of energy spent to cool the datacenter environment. The goal of an efficient datacenter is to have more energy spent on running the IT equipment than cooling the environment where the equipment resides.

Another capability of cloud computing that can be used to lower CO2 emissions is the ability to shift workloads to any location around the globe. Developed to deliver IT service wherever it is needed, this capability also enables workloads to be shifted to enable greater use of renewable resources, such as wind and solar power.

IDC's forecast includes upper and lower bounds for the estimated reduction in emissions. If the percentage of green cloud datacenters today stays where it is, just the migration to cloud itself could save 629 million metric tons over the four-year time period. If all datacenters in use in 2024 were designed for sustainability, then 1.6 billion metric tons could be saved. IDC's projection of more than 1 billion metric tons is based on the assumption that 60% of datacenters will adopt the technology and processes underlying more sustainable "smarter" datacenters by 2024.

"The idea of 'green IT' has been around now for years, but the direct impact of hyperscale computing can have on CO2 emissions is getting increased notice from customers, regulators, and investors and it's starting to factor into buying decisions," said Cushing Anderson, program vice president at IDC. "For some, going 'carbon neutral' will be achieved using carbon offsets, but designing datacenters from the ground up to be carbon neutral will be the real measure of contribution. And for advanced cloud providers, matching workloads with renewable energy availability will further accelerate their sustainability goals."

The IDC report, Worldwide CO2 Emissions Savings from Cloud Computing Forecast, 2021–2024: A First-of-Its-Kind Projection (IDC #US47426420), presents IDC's first global forecast of CO2 emissions savings from cloud computing. The report provides annual CO2 savings on a worldwide and regional basis and estimates the annual savings for each year above the 2020 baseline. A methodology section explains how the emissions savings were calculated along with the underlying assumptions and identifies the sources of third-party data that were used in the calculations. IDC believes this is the first comprehensive study of this kind.

About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights: http://bit.ly/IDCBlog_Subscribe.

Michael Shirer
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508-935-4200

DUBLIN--(BUSINESS WIRE)--The "Global LNG Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.

The global LNG market is evaluated at 379.503 million tonnes for the year 2020, growing at a CAGR of 8.91% reaching the market size of 633.317 million tonnes by the year 2026.

One of the key advantages which has been driving the market for LNG over the years is its ability to emit lower amounts of CO2 which is about 30% to 50% lesser than emitted by other combustible fuels.

Furthermore, natural gas is one of the lightest hydrocarbons, consisting of one carbon atom for 4 hydrogen atoms, the combustion of which does not generate soot, dust, or fumes with a significant level of reduction in the nitrogen oxide (N0x) emissions and very low sulphur dioxide (SO2) emissions which has further led to an increase in the demand of LNG across several countries.

The market for LNG is expected to be also driven by a significant number of governmental relaxations and investments which has led to developments taking place in the transport infrastructure of the gas as well. The rise in the awareness about the benefits of LNG has been a catalyst to the market.

A key factor driving the market for LNG is the rise in the demand for the gas for various industrial applications including construction & dairy products, furnaces, fluid bed dryers, food processing, manufacturing, mining, power generation sector and others.

Furthermore, the dynamism in the prices of oil has pushed the demand for LNG in several countries due to which a significant amount of investments are being made for the production of LNG to cope up with its demand and also to develop the transport infrastructure.

The growing industrialization and urbanization has led to the inclination of more efficient and cleaner fuels for the applications

The advent of COVID-19 had a slightly adverse impact on the global LNG market since the pandemic brought industrial activities to a standstill globally, which restricted the demand of LNG worldwide. According to a report by the International Energy Agency (IEA), the demand for LNG dropped about 4% during the year 2020. Given the amount of developments being made in the sector, the supply over took the demand of the gas during the pandemic. Though the impact of the pandemic has effected the medium term growth potential of the gas which resulted in about 75 bcm of lost growth during the period of 2019-2025.

According to the report, an average growth rate in the demand of liquefied natural gas is expected to be 1.5% per year during the period 2019 to 2025. After the initial lockdown period, the industries came back in operation but with restrictions and certain protocols that were required to be followed like the plant will be operated with lesser capacity which will require less labour to come in contact and social distancing was required to be maintained as well. The marker for LNG is expected to recover with industries recovering from the impact which will result in an increase in the demand of the gas for various industrial purposes.

The segmentation of the global LNG market has been done into application and geography. By application, the classification of the market has been done into Power generation, Fertilizer, Petrochemicals, Utilities, Manufacturing, Transportation fuel. Furthermore, on the basis of geography, the global market has been distributed as North America, South America, Europe, Middle East and Africa, and the Asia Pacific.

Increasing number of investments in the sector is expected to drive the market during the forecast period

The growth of the LNG market is fuelled by a significant increase in the number of investments in the sector by various organizations, which has led to substantial growth of the production as well as transport infrastructure of the gas due to which the prices of the gas has become cheaper.

Given the dynamism in the prices of oil across the world, there has been a significant shift towards the use of LNG for various purposes like transportation fuel or for power generation purposes. For instance, the Asian LNG market has been significantly driven by the developments and the ongoing investments in the sector in countries like China and India. According to a conference held in New Delhi, India in the year 2020, the country is expected to witness an investment of INR 10,000 Cr in the next three years in the LNG sector. The gas has higher energy density than CNG which is currently one of the most preferred fuel in the country.

According to the report on the conference, the investment includes opening up of more than 1,000 LNG stations in the private as well as the public sector. The market for LNG will also be driven by a significant amount of investments done in the sector by the Canadian government. A major liquefied natural gas (LNG) complex is under development in the Kitimat, British Columbia.

According to a report by the Ministry of Innovation, Science and Economic Development, the plant is expected to receive an investment of about US$ 275 Million from the ministry. The complex is worth US$ 40 Billion making it one of the biggest complex present in the country.

According to the report, the investment made is one of the highest private sector investment in the history. The investment includes US$ 220 Million for the development of the infrastructure used for the gas in order to make highly efficient gas turbines for LNG in Canada which is further expected to minimise the emissions of greenhouse gases. The other US$ 55 Million of the investments is made in order to replace the Haisla Bridge in the District of Kitimat to support and manage the increased level of traffic in the region.

Dynamic oil prices across several countries will be a tailwind to the market in the coming years

The market is expected to witness a significant increase during the forecast period owing to the increasing dynamism in the oil prices which has led to an increasing demand for LNG in several countries. The countries which already have a presence of the LNG stations are working on developing a more innovative, safe and cost efficient way for the transportation of the gas across different areas.

Moreover, the market is significantly driven by the increasing demand from the countries where the source has been recently introduced like India, wherein a substantial amount of investments are being made to develop the transport and production infrastructure from scratch.

The COVID-19 pandemic has adversely impacted the oil industry with a noticeable dynamism in the prices of oil. Several countries went into price wars with a drastic variation in the demand and production of oil worldwide which consequently increased the oil prices significantly. With the given dynamism of the oil prices in the current scenario, the demand for a cheaper alternative like LNG is expected to witness a rapid rise during the forecast period.

Competitive Insights

The players in the global LNG market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years.

The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the market.

Key Topics Covered

1. Introduction

1.1. Market Definition

1.2. Market Segmentation

2. Research Methodology

2.1. Research Data

2.2. Assumptions

3. Executive Summary

3.1. Research Highlights

4. Market Dynamics

4.1. Market Drivers

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.4. Industry Value Chain Analysis

5. LNG market Analysis, by Application

5.1. Introduction

5.2. Power generation

5.3. Fertilizer

5.4. Petrochemicals

5.5. Utilities

5.6. Manufacturing

5.7. Transportation fuel

6. LNG market Analysis, by Geography

6.1. Introduction

6.2. North America

6.3. South America

6.4. Europe

6.5. Middle East and Africa

6.6. Asia-Pacific

7. Competitive Environment and Analysis

7.1. Major Players and Strategy Analysis

7.2. Emerging Players and Market Lucrativeness

7.3. Mergers, Acquisitions, Agreements, and Collaborations

7.4. Vendor Competitiveness Matrix

8. Company Profiles

8.1. British Petroleum PLC

8.2. Chevron Corporation

8.3. Exxon Mobil Corporation

8.4. Royal Dutch Shell PLC

8.5. Petronet LNG Limited

8.6. China National Petroleum Corporation

8.7. Petroliam Nasional Berhad (PETRONAS)

8.8. ConocoPhillips Company

8.9. Shell Oil Company

8.10. PetroChina Company Limited

For more information about this report visit https://www.researchandmarkets.com/r/rx6iy2

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DAVIDSON, N.C.--(BUSINESS WIRE)--Ingersoll Rand Inc. (NYSE: IR) appointed Chris Miorin today as its vice president of investor relations. Miorin replaces Vikram Kini in the role, who was appointed in June to chief financial officer.

Miorin assumes the role from his current one with the Ingersoll Rand Execution Excellence team where he has served as the vice president of corporate development since the merger of Gardner Denver and Ingersoll Rand’s industrial business in March 2020.

“Chris is a talented leader who demonstrates aptitude and excellent management capabilities with knowledge of our business strategy and operations,” said Kini. “He has played a critical role in accelerating Ingersoll Rand’s growth strategy, most recently with the acquisition of Tuthill Vacuum and Blower Systems and divestiture of the High Pressure Solutions segment. This experience will further build our program to engage more deeply with the investor community. I look forward to working alongside Chris as he continues to be an integral leader in executing our strategic plan to deliver both near and long-term value for our stockholders.”

A proud veteran of the United States Army, Miorin served as an infantry officer and Ranger from 2007-2012, including a deployment with the 25^th Infantry Division in support of Operation Iraqi Freedom, leadership roles in The Old Guard at Arlington National Cemetery, and service as an aide to the President of the United States. After the military, he held roles as a controller with ExxonMobil, and investment banking associate with RBC Capital Markets and Simmons & Company International before joining Gardner Denver in June 2018 as the director of strategy and corporate development.

His community volunteerism is as impressive as his work experience. Miorin is passionate about education initiatives for underserved communities and supporting transitioning veterans. He served for two years as the service chair on the YPG Board of Directors with the Barbara Bush Houston Literacy Foundation and served three years as a board member and secretary of Combined Arms, an organization committed to veterans navigating the transition from military to civilian life.

Miorin has an MBA from Northwestern University and a Bachelor of Science degree from the United States Military Academy at West Point where he graduated with honors.

About Ingersoll Rand Inc.

Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for our employees, customers and communities. Customers lean on us for our technology-driven excellence in mission-critical flow creation and industrial solutions across 40+ respected brands where our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity and efficiency. For more information, visit www.IRCO.com.

Media:
Misty Zelent
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Investor Relations:
Vikram Kini
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New grant program distributes 99 grants helping K-12 schools in Casey’s communities

ANKENY, Iowa--(BUSINESS WIRE)--Today, Casey’s General Stores announced its Cash for Classrooms grant program is awarding $1 million to benefit K-12 schools through 99 grants. The funds come as teachers, students and families have faced a full year of challenges and changed routines brought on by the coronavirus pandemic.

“We are grateful to be able to distribute these funds to schools in need through our new, Cash for Classrooms grant program. Together, with our guests and partners like LIFEWTR, we are proud to be able to make a big impact on students and teachers in our communities,” said Megan Elfers, Vice President of Marketing at Casey’s.

The Cash for Classrooms grants support projects and initiatives taking place at K-12 schools in Casey’s communities across the heart of America. A few examples include:

Physical Improvements: New playground equipment and expanded playground areas to encourage play and enrichment at Parkview Elementary in Van Buren, Ark., and Our Lady of Guadalupe Elementary in Dubuque, Iowa. An outdoor classroom for students at Black Hawk Elementary in Kahoka, Mo.

Material Needs: Updated technology like projectors and document cameras to improve learning for both in-person and remote students at Nebraska City Public Schools in Nebraska City, Neb.

Teacher Support: New computers for teachers at Crab Orchard CUSD #3 schools in Marion, Ill., to increase effectiveness in the online learning environment.

Community Engagement: Adding reusable bags to Wapello Elementary School’s food pantry to provide more sustainable, long-term solution for families using the pantry in Wapello, Iowa. Enhancing an outdoor learning and community space for James Knoll Elementary School and the community of Ortonville, Minn.

The Cash for Classrooms grants were made possible by donations from Casey’s guests during its January round up campaign, a meal deal partnership between Casey’s and LIFEWTR, a PepsiCo brand.

“As we mark one year of the COVID-19 pandemic in the U.S., we recognize there are still many challenges ahead, and certainly in our local classrooms,” said Guillermo Prieto, Director of Shopper Marketing, PepsiCo Beverages North America, Central Division. “We’re proud to partner with Casey’s to support the educators who both academically and creatively inspire our students in the Heartland community through the Cash for Classrooms program.”

More information can be found at: https://www.caseys.com/community/cash-for-classrooms-grants.

About Casey’s General Stores

Casey's General Stores is a Fortune 500 company (NASDAQ: CASY) operating over 2,200 convenience stores in 16 states. Founded more than 50 years ago, the company has grown to become the fourth-largest convenience store retailer and the fifth-largest pizza chain in the United States. Casey’s provides freshly prepared foods, quality fuel and friendly service at every location. Guests can enjoy pizza, donuts, other assorted bakery items, and a wide selection of beverages and snacks. Learn more and order online at www.caseys.com, or in the mobile app.

About PepsiCo

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $70 billion in net revenue in 2020, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, Tropicana and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. "Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of our business strategy and brands. For more information, visit www.pepsico.com.

Media contact:
Katie Petru
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NEW YORK--(BUSINESS WIRE)--EnfraGen, LLC ("EnfraGen"), a developer, owner, and operator of grid stability and value-added renewable power and assets in Latin America, jointly owned by Glenfarne Group and Partners Group, on behalf of its clients, announced today the close of its acquisition of Termovalle S.A.S. E.S.P., the largest natural gas-fired plant in Western Colombia. The sellers are Juneau Business Inc., Termovalle Investment Limited, Altra Private Equity Fund II LP, Altra Private Equity Fund II-A, Fondo de Capital Privado Altra FCP II and Altra Investments II GP Inc. With an installed capacity of 241 MW, the acquisition brings EnfraGen’s portfolio of operating and in-construction power assets to a combined capacity of approximately 1.7 GW. Following the acquisition, Termovalle will be renamed Prime Termovalle S.A.S. E.S.P.

Termovalle is the most efficient gas-fired plant in Colombia and benefits from dual-fuel technology. Located in Palmira, Termovalle provides essential capacity and energy to the Colombian electrical system and is strategically located to benefit from the planned LNG import terminal proposed by the Colombian government.

EnfraGen operates its grid stability portfolio in Colombia under the brand name Prime Energía, which also includes the 610 MW Termoflores natural gas-fired plant in Barranquilla acquired in 2019.

Brendan Duval, CEO of EnfraGen and Managing Partner of Glenfarne Group said, “Our grid stability portfolio across investment-grade Latin America, designed to support the accelerating adoption of renewables, has grown significantly over the past few years, and positions EnfraGen at the heart of the energy transition process. The Termovalle acquisition expands and diversifies EnfraGen’s presence in Colombia, reinforcing our commitment to Colombia’s energy transformation and providing confidence and optimism around our ability to expand to this important and attractive market. The acquisition also provides EnfraGen with synergies and additional operating leverage and efficiency across the Prime Energía Colombia business.”

Ed Diffendal, Managing Director, Private Infrastructure Americas, Partners Group, added, “The Termovalle acquisition furthers EnfraGen’s growth and is symbolic of the robust pipeline of accretive opportunities in Latin America, core to Partners Group's transformational investment strategy for the platform. We believe EnfraGen’s business model focusing on critical grid stability and value-added renewable assets will continue to bring new opportunities for the business and further EnfraGen's standing as one of the most important energy infrastructure companies in Latin America.”

EnfraGen completed the purchase through its wholly owned subsidiary EnfraGen Energía Sur.

Paul Hastings served as US legal advisor and Gómez-Pinzón served as Colombian local legal advisor to EnfraGen.

BNP Paribas acted as financial advisor to the sellers. Philippi Prietocarrizosa Ferrero DU & Uría served as Colombian legal advisor and Simpson Thacher & Bartlett served as US legal advisor to the sellers.

EnfraGen, through its Prime Energía division in Chile, also owns five operating grid stability plants with a total installed capacity of 409 MW, and five grid stability plants under construction with an estimated total installed capacity of 375 MW. The Company recently announced its successful refinancing of more than US$1.7 billion to consolidate its assets in Latin America.

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 1.4 GW of installed capacity. The company, including its affiliates and subsidiaries, is supported by a team of approximately 275 professionals. EnfraGen maintains offices and assets in Chile, Panama, Colombia, and the United States.

About Prime Energía

Prime Energía, an EnfraGen company, develops and operates back-up and grid stability energy infrastructure assets throughout Chile and Colombia. Prime Energía is dedicated to advancing Latin America’s energy transition contributing investment, technical expertise, and operational excellence to the transformation of the sector and key players in Colombia. Prime Energía began operations in Colombia in 2019 through the acquisition of the Termoflores power plant in Barranquilla, which has an installed capacity of 610 megawatts. Through Termoflores and Termovalle, we provide reliable back-up power in the predominantly hydroelectric Colombian power system and support the national grid primarily during the dry season to ensure a secure supply of energy.

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 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 investment manager. 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
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