REG introduces EnDura Fuels™, including the latest innovation in biodiesel, and bolsters decarbonization commitments for transport industry by fueling a more sustainable future, today
AMES, Iowa--(BUSINESS WIRE)--Renewable Energy Group, Inc. (NASDAQ: REGI) (REG), a leading bio-based diesel producer in North America, announced today the introduction of a line of branded fuel solutions, EnDura Fuels™. This branded product launch supports Renewable Energy Group’s ongoing efforts to help the transport industry meet its sustainability and business growth objectives, while strengthening the Company’s position in the marketplace.
The EnDura Fuels™ line consists of five bio-based diesel fuels including Renewable Energy Group’s newest product, PuriD™, a next-generation biodiesel. PuriD™ exceeds industry quality standards and enables customers to blend PuriD™ into renewable diesel at virtually any level and utilize higher biodiesel blends with petroleum diesel year-round.
These solutions are helping the trucking, rail, marine, aviation and other industries meet their sustainability targets through cleaner burning, lower emission fuels. With advances in policy and increasing consumer awareness and demand for carbon reduction, fuels like biodiesel, renewable diesel and other renewable fuels are an important element of business strategy for every fuel-dependent entity. A recent study1 revealed that 91% of fleet leaders feel significant pressure to set and meet aggressive sustainability goals.
“At REG, we’re helping to redefine what’s possible with the cleaner fuel solutions that we are unveiling, which allow us to immediately serve our customers and the world as the clean energy transition partner of choice,” said Cynthia (CJ) Warner, President and CEO of Renewable Energy Group. “Bio-based diesel can play an essential role in helping the entire transport industry reduce carbon emissions, and our customers are already seeing great success with our line of fuels, including our latest fuel innovation, PuriD™, and our flagship product Ultra Clean BlenD™.”
The transportation industry is responsible for 29%2 of all U.S. carbon emissions, with trucking the largest contributor. Biodiesel and renewable diesel generate the greatest reduction in fossil carbon emissions, up to 100%, when compared with other alternatives in the transportation sector.
EnDura Fuels™ Product Line:
REG introduced the following high quality, cleaner fuel brands to the market:
InfiniD™ |
High-quality biodiesel for use in most diesel applications |
PuriD™ |
Next-generation biodiesel for use in higher biodiesel blending year-round in most markets and for blending with renewable diesel |
VelociD™ |
Clean-burning, renewable diesel that can be blended at almost any level |
Ultra Clean BlenD™ |
100% renewable fuel made from a blend of VelociD™ and PuriD™ |
BeyonD™ |
Low fossil carbon Sustainable Aviation Fuel (SAF) |
As part of the REG EnDura Fuels™ branded product launch, REG hosted partners and clients, including Manchester United, J.B. Hunt, Canadian National Railway Company (CN) and Booster for discussions about the state of the renewable fuels industry today, focusing on the vital role bio-based diesel can play in helping the energy and transportation industries transition to clean-energy solutions.
“Improving the environmental sustainability of our operations is a key area of focus for our business,” said Craig Harper, Chief Sustainability Officer and Executive Vice President for J.B. Hunt. “Alternative fuels, such as the new EnDura Fuels™ branded product line from REG, play a pivotal role in helping our organization and industry reduce our carbon footprint. Today, more than 50% of all fuel purchased by J.B. Hunt is a bio-blended diesel product.”
To learn more about Renewable Energy Group’s newest branded product line, visit www.regi.com.
About Renewable Energy Group
Renewable Energy Group is leading the energy and transportation industries’ transition to sustainability by converting renewable resources into high-quality, sustainable fuels. Renewable Energy Group is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. Renewable Energy Group utilizes a global integrated procurement, distribution and logistics network to operate 11 biorefineries in the U.S. and Europe. In 2021, Renewable Energy Group produced 480 million gallons delivering 4.1 million metric tons of carbon reduction. Renewable Energy Group is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future. For more information about REG and its sustainable fuel solutions, visit regi.com.
Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding REG’s strategic growth plans, activities to support the adoption of renewable fuels by the transport industry, customer demand for low carbon fuels and the attributes of the EnDura Fuels™. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the failure of REG to achieve their strategic growth plans, customer’s desire for clean fuel options, the inability of customers to successfully blend fuels, changing sustainability targets and consumer interest which could reduce the need for lower carbon fuels, failure of legislative efforts to promote renewable fuels, increased competition from other low carbon fuel suppliers, changing standards applicable to renewable fuels which may require different manufacturing processes and requalification of our fuels, the availability and promotion of electric vehicles, and other risks and uncertainties described in REG’s annual report on Form 10-K for the year ended December 31, 2021 and subsequently filed Form 10-Q and other periodic filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.
Third party trademarks are used herein and are the property of their respective owners and may be used for identification purposes.
_________________________________
1 https://www.automotive-fleet.com/10155197/fleet-leaders-express-sustainability-concerns-in-samsara-survey
2 https://www.epa.gov/ghgemissions/sources-greenhouse-gas-emissions
Katie Stanley
REG
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515-357-9085
HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE: HESM) (“HESM”) today announced the commencement of an underwritten public offering of an aggregate of 7,900,000 Class A shares representing limited partner interests in HESM by a subsidiary of Hess Corporation and an affiliate of Global Infrastructure Partners (the “Selling Shareholders”). The Selling Shareholders intend to grant the underwriters a 30-day option to purchase up to 1,185,000 additional Class A shares. HESM will not receive any proceeds from the sale of Class A shares in the offering.
Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are acting as joint bookrunning managers of the offering.
The offering of these securities is being made only by means of the prospectus supplement and accompanying base prospectus as filed with the Securities and Exchange Commission (the “SEC”). Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge on the SEC’s website at www.sec.gov under HESM’s name or from the underwriters of the offering as follows:
Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: 800-831-9146
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Goldman Sachs & Co. LLC
Attn: Prospectus Department
200 West Street
New York, New York 10282
Telephone: 866-471-2526
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
The Class A shares are being offered and will be sold pursuant to an effective shelf registration statement that was previously filed with the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
About Hess Midstream LP
HESM is a fee-based, growth-oriented midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess Corporation and third-party customers. HESM owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of U.S. securities laws. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. You should keep in mind the risk factors and other cautionary statements in the filings made by HESM with the SEC, which are available to the public. HESM undertakes no obligation to, and does not intend to, update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Investor Contact:
Jennifer Gordon
(212) 536-8244
Media Contact:
Robert Young
(713) 496-6076
WILLISTON, Vt.--(BUSINESS WIRE)--iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50-years of experience accelerating the adoption of innovative electrical technologies, today announced that it will reschedule the release of its results for fourth quarter and full-year 2021, along with the corresponding conference call to discuss these results. Previously scheduled to be released on Wednesday, March 30th, 2022, results will now be released in early April, and will be followed by a conference call to review the Company’s financial results, discuss recent events and conduct a question-and-answer session. iSun will announce details pertaining to the timing of the results and call as soon as they become available.
About iSun Inc.
Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company currently provides a comprehensive suite of solar services across residential, commercial, industrial & municipal, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.
Forward Looking Statements
This press release includes 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, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.
IR Contact:
Tyler Barnes
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802-289-8141
HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced the execution of a definitive agreement providing for the repurchase of $400 million in Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, Hess Midstream’s sponsors (the “Sponsors”). The terms of the proposed unit repurchase transaction were unanimously approved by the Board of Directors of Hess Midstream’s general partner (the “Board”), based on the unanimous approval and recommendation of its conflicts committee composed solely of independent directors.
“With today’s announcement, we again demonstrate both our financial flexibility and our commitment to consistent and ongoing return of capital to our shareholders,” said Jonathan Stein, Chief Financial Officer of Hess Midstream. “The unit repurchase transaction is expected to optimize our capital structure to our targeted 3.0x Debt/Adjusted EBITDA for full year 2022 and provide significant and immediate accretion to our shareholders. In addition, we expect to continue to have financial flexibility, including ongoing free cash flow after distributions, to allow for potential further incremental return of capital to shareholders in 2022.”
The repurchased units will be cancelled upon the closing of the unit repurchase transaction, which is expected to result in increased distributable cash flow per unit and capacity for incremental distribution growth above our 5% annual distribution target, consistent with Hess Midstream’s return of capital framework. The purchase price per Class B unit will be the same per Class A share price paid by the public in the approximately $250 million underwritten secondary public offering by the Sponsors also announced today. The unit repurchase is anticipated to close substantially concurrently with the closing of the secondary public offering and is subject to a number of conditions, including the successful completion of the secondary public offering, the receipt by the conflicts committee of a fairness opinion from its financial advisor and other customary conditions. Hess Midstream expects to fund the unit repurchase through debt financing, which may include borrowings under its existing revolving credit facility.
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, any securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
About Hess Midstream
Hess Midstream LP is a fee-based, growth-oriented midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess Corporation and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. More information is available at www.hessmidstream.com.
Cautionary Note Regarding Forward-Looking Information
This press release contains “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Our forward-looking statements may include, without limitation: our future financial and operational results, including our ability to increase our distributions or achieve our targeted distribution growth rate or reduce leverage below our debt/Adjusted EBITDA target; our business strategy and profitability; the expected timing and completion of the Class B unit repurchase from Hess Corporation (“Hess”) and Global Infrastructure Partners (“GIP”); and our ability to execute future accretive opportunities, including incremental return of capital to shareholders.
Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements: the direct and indirect effects of the COVID-19 global pandemic and other public health developments on our business and those of our business partners, suppliers and customers, including Hess; the ability of Hess and other parties to satisfy their obligations to us, including Hess’ ability to meet its drilling and development plans on a timely basis or at all and the operation of joint ventures that we may not control; our ability to generate sufficient cash flow to pay current and expected levels of distributions; reductions in the volumes of crude oil, natural gas, natural gas liquids (“NGLs”) and produced water we gather, process, terminal or store; fluctuations in the prices and demand for crude oil, natural gas and NGLs, including as a result of the COVID-19 global pandemic; changes in global economic conditions and the effects of a global economic downturn on our business and the business of our suppliers, customers, business partners and lenders; our ability to comply with government regulations or make capital expenditures required to maintain compliance, including our ability to obtain or maintain permits necessary for capital projects in a timely manner, if at all, or the revocation or modification of existing permits; our ability to successfully identify, evaluate and timely execute our capital projects, investment opportunities and growth strategies, whether through organic growth or acquisitions; the satisfaction of the closing conditions of the Class B unit repurchase, including the closing of the secondary public offering and the receipt of a fairness opinion by the conflicts committee; costs or liabilities associated with federal, state and local laws, regulations and governmental actions applicable to our business, including legislation and regulatory initiatives relating to environmental protection and safety, such as spills, releases, pipeline integrity and measures to limit greenhouse gas emissions; our ability to comply with the terms of our credit facility, indebtedness and other financing arrangements, which, if accelerated, we may not be able to repay; reduced demand for our midstream services, including the impact of weather or the availability of the competing third-party midstream gathering, processing and transportation operations; potential disruption or interruption of our business due to catastrophic events, such as accidents, severe weather events, labor disputes, information technology failures, constraints or disruptions and cyber-attacks; any limitations on our ability to access debt or capital markets on terms that we deem acceptable, including as a result of weakness in the oil and gas industry or negative outcomes within commodity and financial markets; liability resulting from litigation; and other factors described in Item 1A—Risk Factors in our Annual Report on Form 10-K and any additional risks described in our other filings with the Securities and Exchange Commission.
As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.
Non-GAAP Measures
In addition to our financial information presented in accordance with U.S. generally accepted accounting principles (“GAAP”), management utilizes certain additional non GAAP measures to facilitate comparisons of past performance and future periods. “Adjusted EBITDA” presented in this release is defined as reported net income (loss) before net interest expense, income tax expense, depreciation and amortization and our proportional share of depreciation of our equity affiliates, as further adjusted to eliminate the impact of certain items that we do not consider indicative of our ongoing operating performance, such as transaction costs, other income and other non-cash, non-recurring items, if applicable. “Distributable cash flow” or “DCF” is defined as Adjusted EBITDA less net interest, excluding amortization of deferred financing costs, cash paid for federal and state income taxes and maintenance capital expenditures. DCF does not reflect changes in working capital balances. We believe that investors’ understanding of our performance is enhanced by disclosing these measures as they may assist in assessing our operating performance as compared to other publicly traded companies in the midstream energy industry, without regard to historical cost basis or, in the case of Adjusted EBITDA, financing methods, and assessing the ability of our assets to generate sufficient cash flow to make distributions to our shareholders. These measures are not, and should not be viewed as, a substitute for GAAP net income or cash flow from operating activities and should not be considered in isolation.
Investor Contact:
Jennifer Gordon
(212) 536-8244
Media Contact:
Robert Young
(713) 496-6076
DUBLIN--(BUSINESS WIRE)--The "Western European Gas Detection Equipment Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
The Western European gas detection equipment market generated revenue of €668.1 million in 2021
The market demand is expected to be driven by the increasing competitive intensity, adoption of wireless and connected technologies, and stringent regulatory norms.
Amongst the 3 product segments, the fixed gas detection segment accounted for 46.0% revenue share in 2021. The portable gas detection segment accounted for 49.7% of the revenue share in 2021 and is expected to have a slightly higher compound annual growth rate (CAGR) of 3.3% from 2021 to 2026, driven by the adoption of connected cloud-based solutions.
Among the end-user industries, oil & gas, chemicals & petrochemicals, and water & wastewater treatment are the 3 major ones accounting for 24.8%, 24.6%, and 12.7% revenue share, respectively, in 2021. The chemicals & petrochemicals, and food & beverage industries will witness the highest growth during the forecast period due to the high demand for detecting hazardous gases, such as ammonia, carbon dioxide, and carbon monoxide.
Germany accounted for 23.7% revenue share in the Western European gas detection equipment market in 2021. The country is expected to witness a CAGR of 3.2% from 2021 to 2026. Post-pandemic growth is likely to be driven by the high adoption of gas detection in small and mid-scale enterprises.
Adoption of Platform/Product as a Service (PaaS) and rental platforms will enable manufacturers' direct tie-ups with end customers to enhance product penetration during the forecast period. The high incidence of injuries due to multiple gas hazards in the industrial environment is expected to boost the growth of multi-gas detection equipment market.
Key Topics Covered:
Key Findings
Market Overview
Key Competitors for Gas Detection Equipment
Key Growth Metrics for Gas Detection Equipment
Technology Trends - Gas Detection Equipment
Competitive Factors Assessment - Gas Detection Equipment
Growth Opportunity Universe - Gas Detection Equipment
For more information about this report visit https://www.researchandmarkets.com/r/t36x63
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--WM (NYSE: WM) announced that it will release first quarter 2022 financial results before the opening of the market on Tuesday, April 26, 2022. Following the release, WM will host its investor conference call at 10 a.m. ET.
A live audio webcast of the conference call can be accessed by visiting investors.wm.com and selecting “Events & Presentations” from the website menu. Alternatively, listeners may access the call by dialing 877-710-6139 (US/Canada) or 706-643-7398 (International) and entering passcode 3365157.
A replay of the call will be available through May 10. To hear a replay of the call over the internet, access the “Events & Presentations” section on investors.wm.com. To hear a telephonic replay of the call, dial 855-859-2056 or 404-537-3406, and enter passcode 3365157.
The Company participates in investor presentations and conferences throughout the year. Interested parties can find a schedule of these conferences at investors.wm.com by selecting "Events & Presentations."
ABOUT WM
Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America, providing services throughout the United States and Canada. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The Company’s customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management, visit www.wm.com.
Waste Management
Website:
www.wm.com
Analysts:
Ed Egl
713.265.1656
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Media
Toni Werner
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Colby Barrett Named Vice Chair of Board of Directors
COMMERCE CITY, Colo.--(BUSINESS WIRE)--GeoStabilization International®, the leading geohazard mitigation firm in North America, announces today that Dominic Ivankovich is joining the team as Chief Executive Officer (CEO). Ivankovich succeeds Colby Barrett, who has led GeoStabilization since 2008. Barrett will stay on as Vice Chair of the Board of Directors.
“GeoStabilization was founded twenty years ago on a promise to provide value to an underserved market. Over the years, we have seen ongoing success because of our commitment to our clients, the dedication of our employees, and our culture of innovation, service, and quality,” said Colby Barrett, Board of Directors Vice Chair of GeoStabilization International. “I’m thrilled to pass the reins to Dominic to further drive our mission of providing cutting-edge, sustainable solutions. His leadership and business growth acumen combined with our unwavering passion and unmatched technical capabilities will undoubtedly bring decades more success for GeoStabilization and our clients.”
Dominic joins GeoStabilization after nearly twenty years with Danaher and Fortive, including more than 10 years leading large global businesses across essential industries. With a degree in Chemical Engineering from Montana State University and an MBA from the Kellogg School of Management at Northwestern University, Dominic has a rich track record of driving growth acceleration and market share gains via improved client satisfaction, innovation, commercial execution, and strategic acquisitions in core and new markets. Additionally, Dominic’s significant depth in acquisition integration and construction management will be critical to GeoStabilization’s future as it continues to grow in current and new mission critical applications that are consistent with the company’s mission. Dominic has spent the last month physically working with GeoStabilization field crews across the United States as part of his transition into the CEO role.
“What attracted me to GeoStabilization is the company culture, the passion of its team, and a family atmosphere that has stood the test of time. As a company grows, this is incredibly rare – and is a testament to the leadership of Colby Barrett and the company founders Albert Ruckman and Robert Barrett,” said Dominic Ivankovich, GeoStabilization International CEO. “I am excited to join this amazing team and help further the advancements in improving infrastructure and protecting people from the dangers of geohazards.”
20 Years of Success
Founded in 2002, GeoStabilization grew from a drive to bring cutting-edge geohazard mitigation solutions that increase efficiency, decrease cost, and minimize environmental impact. Today, the company has implemented more than 5,500 unique solutions and built a team of more than 600 people composed of geologists, geotechnical engineers, equipment operators, geohazard mitigation technicians, data analysts, and rockfall remediation technicians.
GeoStabilization provides routine and emergency geohazard mitigation solutions for critical infrastructure within the transportation, railway, mining, commercial and energy industries. Many of GeoStabilization’s projects use an integrated design and construction contracting process and a suite of specialized technologies such as the Soil Nail Launcher™, RailJET®, the Spider Excavator, and multi-platform geospatial remote sensing.
The company continues to diversify its portfolio of innovations and services, adding new disciplines and dedicating resources to research and development. To stay up to date on the latest, visit www.geostabilization.com.
About GeoStabilization International®
GeoStabilization International® is the leading geohazard mitigation firm operating throughout the United States, Canada, and New Zealand. GeoStabilization specializes in emergency landslide repairs, rockfall mitigation, and grouting using design/build contracting. GeoStabilization International’s team includes some of the brightest and most dedicated professionals in the geohazard mitigation industry. Their expertise, proprietary tools, and worldwide partnerships allow them to repair virtually any slope stability or foundation problem in any geologic setting.
Megan Schulz
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701-238-0740
New facility is one of many battery projects the company is undertaking
Event video available here
SAN DIEGO--(BUSINESS WIRE)--Less than a year after it completed the Top Gun Energy Storage facility in the Miramar area, San Diego Gas & Electric (SDG&E) today announced the completion of a second energy storage project in the City of San Diego. SDG&E Senior Vice President of Customer Services and External Affairs Scott Crider, SDG&E Vice President of Energy Innovation Miguel Romero and local labor leaders cut the ribbon on the region’s latest energy storage facility located in Kearny Mesa. The new 20MW/80MWh facility can meet the energy needs of about 13,000 homes for up to four hours.
“Investing in advanced technologies like energy storage is critical to advancing our state’s and region’s aggressive climate goals, including getting to net zero greenhouse gas emissions, with the added benefit of building a more resilient energy grid,” said SDG&E CEO Caroline Winn. “Project by project, step by step, we are making progress toward a cleaner, safer and more reliable energy future.”
The Kearny facility is one of several SDG&E projects that will help California reach its goal of 100% carbon-free electricity, while also bolstering grid reliability during the summer. SDG&E completed the Top Gun Energy Storage, a 30MW/120MWh lithium-ion battery system, last June. The facility can provide the energy equivalent for serving 20,000 homes for four hours. Top Gun is connected to the California Independent System Operator (CAISO) market and can be dispatched by CAISO to support statewide grid needs. The Kearny facility began commercial operation this month and will also be available for dispatch by CAISO. By year end, SDG&E expects to have 145 MW of owned storage connected to the regional grid. To learn more about SDG&E’s clean energy projects, visit sdge.com/sustainability.
Battery storage works by capturing renewable resources like wind and solar when they are abundant during the day, then sending that energy back to the grid when it is needed, such as at night when the sun has set or when energy supply is tight during hot summer months.
The Kearny facility consists of lithium-ion phosphate batteries, which feature a chemistry that is more durable. The batteries are housed in special storage cubes that bring additional safety benefits such as temperature sensors and fire retardant.
SDG&E is an innovative San Diego-based energy company that provides clean, safe and reliable energy to better the lives of the people it serves in San Diego and southern Orange counties. The company is committed to creating a sustainable future by providing its electricity from renewable sources; modernizing natural gas pipelines; accelerating the adoption of electric vehicles; supporting numerous non-profit partners; and, investing in innovative technologies to ensure the reliable operation of the region’s infrastructure for generations to come. SDG&E is a subsidiary of Sempra (NYSE: SRE). For more information, visit SDGEnews.com or connect with SDG&E on Twitter (@SDGE), Instagram (@SDGE) and Facebook.
Krista Van Tassel
San Diego Gas & Electric
877-866-2066
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Twitter: @sdge
A leading multinational company in the Philippines and one of the world’s top container terminal operators chooses Rimini Street software support for SAP to optimize ERP investments and align its ERP roadmap to business priorities
LAS VEGAS--(BUSINESS WIRE)--Rimini Street, Inc. (NASDAQ: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products, and a Salesforce partner, today announced that International Container Terminal Services, Inc. (ICTSI), has switched to Rimini Street’s award-winning software support services for SAP. Rimini Street will support business-critical functions such as financials, treasury, asset tracking, equipment maintenance and repair that powers the entire sea freight business for the Philippines and other ICTSI-operated terminals.
By leveraging Rimini Street services, ICTSI will achieve 50% savings in annual support fees while enjoying an extraordinary client experience with improved service quality. The savings in both IT budget and resources will allow ICTSI to focus its resources and invest in transforming its SG&A processes, accelerating growth, and improving innovation, productivity and efficiency moving forward.
“Our existing ECC 6 platform has become a constraint, rather than an enabler for our business, with more and more initiatives that would drive efficiency and digital transformation either blocked, expensive, or requiring third-party add-on solutions. It is a legacy system, and, as such, it is vital that we minimize investment in it and divert that investment into preparing for a replacement that would again enable and transform our business,” said Brian Hibbert chief information officer, ICTSI. “Working with Rimini Street not only delivers that spend reduction, but with their exceptional support, we can turn our internal focus on preparing for that change and going to market for our future ERP needs.”
Established in 1987, ICTSI is a leader in the port operations sector, employing more than 7,000 people and managing 35 terminals in 20 countries. It is the Philippines’ largest multinational company and the eighth largest container terminal operator in the world, with established operations in both developed and emerging market economies. As the company explores digital transformation opportunities, ICTSI looks to the next evolution of its IT infrastructure.
"Process is always king. Preparing for a new ERP platform requires first reviewing our internal processes and data assets and ensuring that before we implement any new system, our processes and data requirements are driving that implementation,” added Hibbert. “Partnering with Rimini Street helps us ensure that our technology meets the needs and goals of our business today. Allowing us to focus on addressing emerging market requirements and being well-positioned to capitalize on future opportunities."
Personalized and Responsive Support Services
To deliver the experience and efficiencies clients have come to expect, Rimini Street leverages patented AI technology and a primary support engineer to provide ultra-responsive, personalized, premium-level services from highly experienced senior engineers. The Company continues to expand its portfolio with services that help clients optimize, evolve and transform their IT infrastructure. Rimini Street’s expanded portfolio of services and client success has put the Company on a stated target of $1 Billion in annual revenue by 2026.
“With Rimini Street's client-centric and expert-led support services, businesses like ICTSI are truly free to focus on aligning their IT roadmap, innovation plans, and investments with their strategic business objectives,” said Andrew Seow, regional general manager ASEAN and Greater China, Rimini Street. “Rimini Street’s enterprise software services are a game-changer for companies wanting to stabilize and maintain their IT operations and achieve cost efficiency while building resilience as they grow amid shifting business circumstances globally. As ICTSI continues its transformation journey, Rimini Street will continue to provide trusted, reliable services that deliver significant business value and offer peace of mind to ICTSI, allowing them to grow their business and optimize the value they deliver to their own stakeholders.”
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products, and a Salesforce partner. The Company offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, more than 4,400 Fortune 500, Fortune Global 100, midmarket, public sector, and other organizations from a broad range of industries have relied on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter, and find Rimini Street on Facebook and LinkedIn. (IR-RMNI)
Forward-Looking Statements
Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion, and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; the impact of our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the discontinuance of LIBOR and transition to any other interest rate benchmarks; the duration of and operational and financial impacts on our business of the COVID-19 pandemic and related economic impact, as well as the actions taken by governmental authorities, clients or others in response to the continuance of the pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, including terrorism and geopolitical actions specific to an international region; changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or any new litigation; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; the sufficiency of our cash and cash equivalents to meet our liquidity requirements, including under our credit facility; our ability to maintain an effective system of internal control over financial reporting and our ability to remediate any identified material weaknesses in our internal controls; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate reserves for tax events; competitive product and pricing activity; challenges of managing growth profitably; the customer adoption of our recently introduced products and services, including our Application Management Services (AMS) offerings, in addition to other products and services we expect to introduce in the future; the loss of one or more members of Rimini Street’s management team; our ability to attract and retain qualified personnel; uncertainty as to the long-term value of Rimini Street’s equity securities; the effects of seasonal trends on our results of operations, including the contract renewal cycles for vendor supplied software support and managed services; our ability to prevent unauthorized access to our information technology systems, protect the confidential information of our employees and clients and comply with privacy and data protection regulations; and those discussed under the heading “Risk Factors” in Rimini Street’s Annual Report on Form 10-K filed on March 2, 2022, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans, or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.
© 2022 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.
Vikki Hansen
Rimini Street, Inc.
+1 (708) 556-3185
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HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast beginning at 9:00 a.m. Eastern Daylight Time (EDT) on Wednesday, May 4, 2022 to discuss first quarter 2022 earnings. The company plans to release its financial and operating results before the market opens that morning.
A webcast link and related presentation material will be included on the Investors page of the company’s website at http://ir.murphyoilcorp.com.
Date: Wednesday, May 4, 2022
Time: 9:00 a.m. EDT
Toll Free Dial-in: 888-886-7786
Conference ID: 86484903
ABOUT MURPHY OIL CORPORATION
As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events or results, are subject to inherent risks and uncertainties. Factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement include, but are not limited to: macro conditions in the oil and natural gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the US or global capital markets, credit markets or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the US Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.
Investor Contacts:
Kelly Whitley, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9107
Megan Larson, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9470
OAKLAND, Calif.--(BUSINESS WIRE)--Navis, the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global cargo supply chain, today announced that ITS ConGlobal (ITSC) has selected Octopi by Navis’ cloud-based terminal operating system (TOS) for its greenfield intermodal facility, the Mid-Willamette Valley Intermodal Center, in Millersburg, Oregon.
As North America’s leading operator of intermodal and depot service terminals, ITSC was selected to manage cargo passing through the newly built 50,000-container-per-year intermodal transportation facility, which is set to open in late 2022. Centrally located in the Willamette Valley, the facility is positioned where the Union Pacific Railroad mainline, Portland Western Railroad and Interstate 5 come together, making it ideal to serve as a centralized reload center for the valley’s natural resource-based economy. The new facility will allow goods to be shipped by rail to maritime ports along Washington’s Puget Sound, decreasing traffic congestion on the interstates, especially in the Portland metro area. Among the reasons ITSC was selected for the new site is its vast experience working with Class 1 railroad customers.
For the greenfield project, ITSC needed a TOS to optimize the planning and execution of its operations and enable connectivity within its broader supply chain ecosystem. The company opted to implement Octopi, tapping into the powerful cloud-based technology and industry-leading expertise of Navis without requiring the upfront IT investment and technical expertise in order to get up and running quickly. In addition to the core planning and execution capabilities - such as EDI exchange, gate processing, yard management, rail processing and critical reporting and invoicing functions - ITSC also benefits from Octopi’s ability to integrate with ITSC’s Transportation Management System (TMS) and the Sight.IO AGS solution, ensuring peak operational performance throughout the entire cargo journey.
“In our search for a TOS for our greenfield facility in Millersburg, Octopi by Navis outshined all other options by offering a full functionality solution that we could get up and running quickly,” said Ryan Swartz, Vice President of Operations - Intermodal at ITS ConGlobal. “It was important to us to find a holistic solution capable of connecting with our automated gate system, as well as communicating in real time with our other commercial shipping partners. Navis is the right partner for us as we grow our operations in the region.”
“Intermodal transportation is becoming increasingly common as it is a great strategy for reducing freight costs and carbon footprint, among other benefits,” said Kim Kuesel, VP and General Manager, Americas, Navis. “ITS Conglobal is a demonstrated leader in intermodal and depot services and Navis looks forward to both working and growing with ITSC by providing a cloud-based TOS that connects to a larger ecosystem, and that can scale as ITSC grows their strategic presence in the region and into more inland depots with maintenance & repair capabilities.”
To learn more, visit www.navis.com and www.octopi.co.
About Navis, LP
Navis is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations. www.navis.com.
Jennifer Grinold
Navis, LP
T+1 510 267 5002
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Anna Patrick
Gregory FCA
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PORTLAND, Ore.--(BUSINESS WIRE)--Northwest Natural Holding Company (NYSE: NWN) (NW Natural Holdings) announced today the pricing of an underwritten public offering of 2,500,000 shares of its common stock, at a price to the public of $50.00 per share. In connection with the offering, NW Natural Holdings granted the underwriters involved in the offering with a 30-day option to purchase up to an additional 375,000 shares of its common stock. The offering is expected to close on April 1, 2022, subject to customary closing conditions.
The net proceeds from the offering will be used for general corporate purposes, including repayment of its short-term indebtedness and/or making equity contributions to NW Natural Holdings’ subsidiaries, Northwest Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), and NW Natural Renewables Holdings (NW Natural Renewables). Contributions to NW Natural and NW Natural Water will be used for general corporate purposes. A portion of any contribution received by NW Natural may be used to repay its short-term indebtedness.
Wells Fargo Securities, J.P. Morgan and RBC Capital Markets are acting as book-running managers of the offering. Siebert Williams Shank is acting as co-manager of the offering.
This offering is being made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission, and only by means of a prospectus supplement for this offering and a related base prospectus. Copies of the prospectus supplement and related base prospectus may be obtained by contacting:
Wells Fargo Securities, LLC Attention: Equity Syndicate Department 500 West 33rd Street New York, NY 10001 Telephone: (833) 690-2713 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. |
J.P. Morgan Securities LLC c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (866) 803-9204 Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
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RBC Capital Markets, LLC Attention: Equity Syndicate 200 Vesey Street, 8th Floor New York, NY 10281 Telephone: (877) 822-4098 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. |
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
ABOUT NW NATURAL HOLDINGS
Northwest Natural Holding Company (NYSE: NWN) is a public utility holding company headquartered in Portland, Oregon, which, through its largest subsidiary, Northwest Natural Gas Company, provides natural gas distribution service to approximately two million people in more than 140 communities through more than 785,000 meters in Oregon and Southwestern Washington. NW Natural Water provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. NW Natural Renewables is investing in renewable energy and the transition to a decarbonized future with a focus on the production and supply of net low-carbon fuels supporting a variety of sectors.
Forward-Looking Statements
This press release contains forward-looking statements regarding our planned offer and sale of common stock and the use of the net proceeds from any such sale. NW Natural Holdings cannot be sure that we will complete the offering or, if we do, on what terms we will complete it. Forward-looking statements are based on current beliefs and expectations and are subject to inherent risks and uncertainties, including those discussed under the captions “Risk Factors” and “Forward-Looking Statements” in the prospectus and prospectus supplement. In addition, NW Natural Holdings’ management retains broad discretion with respect to the allocation of the net proceeds of this offering. The forward-looking statements speak only as of the date of this release, and NW Natural Holdings is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise, except as may otherwise be required by law.
Investor Contact:
Nikki Sparley
Phone: 503-721-2530
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Media Contact:
David Roy
Phone: 503-610-7157
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SAN DIEGO--(BUSINESS WIRE)--$DFCO #AKFGroup--In response to the immediate need for sustainable energy practices that modernize government and commercial buildings, Dalrada Energy Services (DES), a subsidiary of Dalrada Corporation (OTCQB: DFCO, "Dalrada"), proudly announces a strategic partnership with LogosAKF, a Service-Disabled Veteran-Owned Small Business (SDVOSB) that is part of the federal Small Business Administration’s Mentor Protégé Program. Through this partnership, LogosAKF is now a preferred distributor of Dalrada ESG solutions as well as the exclusive engineering and design partner for DES worldwide. Together, DES and LogosAKF provide ESG-compliant building engineering, design, and commissioning services with innovative green energy-focused products that produce significant cost savings.
The U.S. government has allocated $15 billion to modernize the Department of Veterans Affairs. Included in this is a total of $5 billion for modernizing federal building infrastructure to lower carbon emissions and reduce operational energy costs. The strategic partnership with LogosAKF allows DES to compete for these business opportunities.
Tom Giles, President of Dalrada Energy Services, states, “Dalrada Energy Services is proud to partner with LogosAKF. Dalrada is committed to improving the quality of life for future generations through innovations made in clean energy, technology, engineering, and health, and the strategic partnership between DES and LogosAKF will support this goal. Improving the quality of life for U.S. veterans in modernized care facilities, while saving the government a considerable amount in energy costs, is another important goal. It will also enable state and federal organizations to reinvest savings directly intended for veterans.”
LogosAKF’s services streamline building construction and renovation, resulting in 15%-40% energy savings. Recent LogosAKF energy related project success stories include:
DES and LogosAKF are committed to implementing green energy innovations with a positive environmental impact. Providing LEED® engineering, design, and commissioning services for new and existing buildings, DES and LogosAKF utilize all rating systems at all levels of certification. Our combined products and services include:
As an ENERGY STAR Service and Certification Provider, LogosAKF is committed to improving the energy efficiency of U.S. buildings and industrial plants, benchmarking or certifying new or existing buildings with modernized, sustainable green energy solutions.
DES leads with disruptive advanced technology solutions to reduce time and expense to market for its clients, implementing long-term clean energy and sustainability initiatives while reducing the environmental impact of harmful carbon and greenhouse gas emissions.
Dalrada continuously creates innovative, impactful solutions to address the complex challenges of today and the future. For more information about Dalrada Energy Services, please visit www.Dalrada.com.
About LogosAKF
Maryland-based Logos BZ and New York-based AKF Group partnered to create a Service-Disabled Veteran-Owned Small Business (SDVOSB) joint venture, LogosAKF, as part of the federal Small Business Administration's Mentor Protégé Program. Our principals, Charlie Malone, Louis Celli and Mitch Patterson have been serving the public and private sectors and advising executive stakeholders for more than three decades and have diverse backgrounds in healthcare design, healthcare planning, organizational transformation and optimization. The LogosAKF joint venture is committed to client-focused engineering and design leadership that helps imagine, create, and optimize energy efficiency in government and commercial buildings. Combined, LogosAKF has over 500 member employees across thirteen offices in the United States and Mexico.
About Dalrada (DFCO)
With perseverance, valor, dedication, and vision, Dalrada Corporation is dedicated to tackling worldwide challenges of today and tomorrow.
Dalrada is a global company that operates under the tenet of creating impactful innovations that matter for the world. The Company works continually to produce disruptive solutions that bridge the gap of accessibility and accelerate positive change for current and future generations.
Established in 1982, the Company has since grown its footprint to include the business divisions: Dalrada Health, Dalrada Precision, and Dalrada Technologies. Each of Dalrada's subsidiaries actively produces affordable and accessible world-class solutions to global problems. For more information, please visit www.dalrada.com.
Disclaimer
Statements in this press release that are not historical facts, the statements are forward-looking, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors and will be dependent upon a variety of factors including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations regarding these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
Denise Mahaffey
858.283.1253
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DUBLIN & ISTANBUL--(BUSINESS WIRE)--Avolon, the international aircraft leasing company, announces that Gözen Holding, one of Turkey’s leading aviation conglomerates and owner of Freebird Airlines, has committed to purchase or lease up to 50 VX4 eVTOL aircraft from Avolon, with the option to purchase or lease up to 50 additional aircraft. As a result of this announcement, Avolon has now placed its entire 500 VX4 eVTOL aircraft orderbook, with the orderbook being oversubscribed by 50 options.
As part of the agreement, Avolon, through its investment and innovation affiliate Avolon-e, has formed a strategic partnership with Gözen Holding to commercialise zero-emissions eVTOL travel and develop an industry leading urban air mobility (‘UAM’) platform in Turkey. Avolon and Gözen Holding will collaborate in a Working Group to identify and target local partners, research potential market opportunities, as well as infrastructure and certification requirements for UAM. The partnership will allow Avolon to leverage Gözen Holding’s expertise in airline operations, pilot training, airport handling and security, airline representation as well as digital platforms, while Gözen Holding will benefit from Avolon’s deep industry expertise and global platform of UAM Working Groups, which are active in Brazil (with GOL), Greenland (with Air Greenland), Japan (with Japan Airlines) and Southeast Asia (with AirAsia).
Dómhnal Slattery, CEO of Avolon commented: “Today marks an important milestone on our eVTOL journey, as we have now fully placed our VX4 orderbook with some of the leading international airlines and aviation companies all over the world. The opportunities to deploy the VX4 are enormous and, as is evident with our placement progress to date, zero emissions eVTOL air travel will reshape the short-haul travel market. Our partnership with Gözen Holding will create a pioneer in UAM in Turkey, bringing sustainable air travel to the region.
The strong demand for our VX4 orderbook and for zero emissions travel, confirms our view that demand for eVTOL aircraft would always outstrip supply. As a result, we will continue working with other partners that want to purchase or lease the VX4 in order to fully size the potential market and demand for this aircraft.”
Mekin Gözen, CEO of Gözen Holding, commented: “We are delighted to announce our partnership and VX4 order with Avolon. As an integral part of the Turkish aviation industry, we feel it is incumbent upon us to be at the forefront of the sustainability movement and that is why we identified Avolon, and Vertical’s VX4, as the zero-emissions eVTOL aircraft that will revolutionise air travel. With over 15 million people living in Istanbul, the city is consistently faced with congestion which hinders both the cities’ development and attractiveness as a tourist and business location. We strongly believe that the deployment of the VX4 will dramatically reshape Istanbul and the rest of Turkey. Our partnership with Avolon will see us create an eVTOL ecosystem in the country and is the first step in delivering sustainable air travel to the region, position it as a global leader.”
Stephen Fitzpatrick, Founder and CEO of Vertical commented: “We are delighted that Turkey has been added to the global destinations where the VX4 will fly. We look forward to welcoming Gözen into the Vertical family and continue to celebrate our growing partnership with Avolon."
UAM Opportunity in Istanbul and Turkey
The UAM market potential in Istanbul, Turkey and surrounding countries is significant. Istanbul offers one of the most unique opportunities worldwide for eVTOLs due to its distant airports, traffic congestion and vast waterway networks. With over 50 million people using ferries or city boats in Istanbul every year, eVTOLs offer a faster, quieter and more sustainable form of travel, helping reduce travellers’ environmental footprint. Istanbul’s ancient and modern city and surrounding attractions such as Cappadocia, Troy, Mount Ida, Antalya, Izmir, Çeşme, Bodrum, Marmaris, and Fethiye present compelling eVTOL use cases that the Working Group will explore. These attractions make the country one of the most sought-after tourist and business destinations in the world.
About Avolon’s VX4 Orderbook
In June 2021, Avolon ordered 500 VX4 eVTOL aircraft from Vertical Aerospace (NYSE: EVTL) (‘Vertical’), valued at US$2 billion. Since announcing that order, Avolon placed 250 VX4 aircraft with GOL and Grupo Comporte in Brazil, up to 100 aircraft with Japan Airlines in Japan, a minimum of 100 aircraft with AirAsia, and up to 100 aircraft with Gözen Holding. Avolon has now fully placed the entirety of its initial VX4 orderbook, with the orderbook being oversubscribed by 50 options.
About VX4 eVTOL Aircraft
The four passenger, one pilot VX4 is projected to have speeds up to 200mph, a range over 100 miles, near silent when in flight, zero operating emissions and low cost per passenger mile. Upon its introduction, the VX4 will be designed to the safest certification standards, set by EASA, at the same level as commercial aircraft. The VX4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel. Find out more: vertical-aerospace.com
About Avolon
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s second largest aircraft leasing business with an owned, managed and committed fleet, as of 31 December 2021, of 824 aircraft.
Website: www.avolon.aero
Twitter: @avolon_aero
About Gözen Holding
Gözen Holding is a group of companies, active in the field of airlines, representation, surveillance, fuel, controlling, brokerage, security and training in the aviation industry. Based on its experience and know-how gained over 43 years, Gözen Holding has become a brand in the industry by gathering its companies Gözen Air Services, Freebird Airlines, Freebird Airlines Europe, Gözen Security Services, Free Bird Travel, IFTC International Flight Training Center, AFSC Antalya Flight Simulator Center, Flydog K9 Services, and Gözen Digital Aviation under the same roof.
Gözen Holding continues its successful activities in the field of tourism and aviation sector with its more than 3,500 employees.
Website: https://www.gozenholding.com
About Vertical Aerospace
Vertical Aerospace is pioneering electric aviation. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the Ovo Group, a leading energy and technology group and Europe’s largest independent energy retailer. Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have over 1,700 combined years of engineering experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems.
Vertical’s top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification allows for a lean cost structure and enables production at scale. Vertical has a market-leading pre-order book (by value) for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes conditional pre-order options from Virgin Atlantic and Marubeni, and in doing so, is creating multiple potential near term and actionable routes to market.
Vertical’s ordinary shares listed on the NYSE in December 2021 under the ticker “EVTL”. Find out more: www.vertical-aerospace.com
Ross O’Connor
Head of Capital Markets
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Jonathan Neilan/Sam Moore
FTI Consulting
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Hollywood Stars Showed Up for this Year’s Green Pre-Oscar Party
LOS ANGELES--(BUSINESS WIRE)--#driveH2--Energy Independence Now (EIN), Global Green USA, and a gathering of eco-conscious celebrities, athletes and influencers convened at the Petersen Automotive Museum the night before the Oscars to learn about and raise funds for research, policy advocacy and public outreach to promote the widespread adoption of diverse zero emissions solutions.
Among the celebrities in attendance were Ronen Rubenstein, Jessica Parker Kennedy, Sharon Lawrence, Tawny Newsome, Jeff Timmons, Jordyn Woods, Jake Busey, Caelynn Miller-Keves & Dean Unglert, Olympic Skateboarders Manny Santiago, Mariah Duban and Christina Means; Victoria Konefal, Kara Del Toro, Alyssa Lynch, Greg Louganis and many others.
The event featured musical performances by Jake Wesley Rogers and Eric Krasno (and a surprise performance by Son Little), offered experiential live auction items and shone the spotlight squarely on sustainable entertainment, cars, cocktails and a glimpse into a more environmentally-friendly future. Planet-friendly gift-bags curated by Erewhon were provided to guests, who were also treated to sustainable foods and drinks.
Also receiving the spotlight on the evening was DriveH2, the public service initiative by environmental nonprofit EIN and its message of a hydrogen powered future. Working with EIN, Toyota (one of the event’s sponsors, and makers of the Mirai, a groundbreaking, zero emission, hydrogen fuel cell powered car), has already made vehicle donations to non-profit organizations such as the American Red Cross, Petersen Automotive Museum (for education programs), Social Justice Learning Institute, ThinkWatts LA, and After-School All-Stars. These vehicles and other examples of the Toyota Mirai were on display throughout the venue.
“Tonight’s Green Pre-Oscar Gala was an incredibly fun and fulfilling event,” said Brian Goldstein, EIN’s Executive Director. “It’s exciting to see high profile personalities from film, television, sports and music working to educate themselves about sustainable, zero emission alternatives to fossil fuels that are polluting our air and destroying the planet. I find it heart-warming that so many influential people are enthusiastic to use their platforms to spread the word about our DriveH2 public service initiative. EIN is the only environmental nonprofit dedicated to advocating for clean hydrogen, which is the foundation of the new energy economy. Government and private investments in clean hydrogen are critical if we are going to meet our environmental goals, and public awareness is a vital catalyst for both. We have no time to waste in our fight for clean air and there’s no disputing the urgency of the climate crisis, so it was really quite gratifying to see so many influencers here to support our work and spread the word.”
Learn more at www.driveh2.org, or follow EIN’s story and updates across all social media platforms at @DriveH2.
About EIN and the DriveH2 Campaign
DriveH2 is a public service initiative by Energy Independence Now (EIN), an environmental nonprofit committed to educating the world about the benefits of hydrogen fuel cell electric vehicles. The organization engages in comprehensive research, policy advocacy and public outreach to promote the widespread adoption of a diverse zero emissions portfolio.
Media Contact:
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LONDON & NEW YORK--(BUSINESS WIRE)--Vertical Aerospace (Vertical) [NYSE: EVTL] notes Avolon’s announcement today that it has exceeded its whole 500 unit pre-order of Vertical’s VX4 electric aircraft within nine months. Avolon, the world’s second largest aircraft lessor, pre-ordered 500 VX4s in June 2021, and as of today has placed all of these units, as well as an additional 50 aircraft options, with leading global airlines.
This has been achieved by placing aircraft with flag carriers and innovative airlines such as JAL, AirAsia and Brazil’s largest airline Gol, in addition to today’s announcement with leading Turkish aviation group, Gözen Holding, for up to 100 VX4 eVTOL aircraft. Avolon’s success in placing 550 VX4s in under a year emphasises the high demand for the aircraft and displays the significant growth in market appetite for eVTOLs.
Vertical has sold its VX4 aircraft directly to a broad range of customers including aircraft lessors, airlines, helicopter operators and tourism groups. The global reach achieved through Vertical’s conditional pre-orders for its VX4 means it has the largest pre-order book by value in the eVTOL market for $5.4bn, and together with Avolon’s placements means that the VX4 will fly in the US, UK, Japan, Brazil, Turkey, Greenland, Southeast Asia and the Caribbean.
Avolon exceeding its VX4 pre-orders marks a significant milestone in its partnership with Vertical and further reflects Avolon’s confidence in Vertical’s electric aircraft, which is on track to be to be flying in cities worldwide by the middle of the decade. Vertical and Avolon are collaborating with the VX4’s airline customers in Working Groups to accelerate the deployment of the VX4, as well as on eVTOL infrastructure and regional-specific certification requirements.
Together with its partners including Rolls-Royce, Honeywell and Microsoft, along with GKN, Leonardo and Solvay, Vertical is now in the later build stages of the VX4 with its full test flight program to commence later in 2022.
Stephen Fitzpatrick, Founder & CEO of Vertical said, “We are delighted that Turkey has been added to the global destinations where the VX4 will fly. We look forward to welcoming Gözen into the Vertical family and continue to celebrate our growing partnership with Avolon."
Dómhnal Slattery, CEO of Avolon commented: “Today marks an important milestone on our eVTOL journey, as we have now fully placed our VX4 orderbook with some of the leading international airlines and aviation companies all over the world. The opportunities to deploy the VX4 are enormous and, as is evident with our placement progress to date, zero emissions eVTOL air travel will reshape the short-haul travel market. Our partnership with Gözen Holding will create a pioneer in UAM in Turkey, bringing sustainable air travel to the region.
The strong demand for our VX4 orderbook and for zero emissions travel, confirms our view that demand for eVTOL aircraft would always outstrip supply. As a result, we will continue working with other partners that want to purchase or lease the VX4 in order to fully size the potential market and demand for this aircraft.”
About Vertical Aerospace
Vertical Aerospace is pioneering electric aviation. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the Ovo Group, a leading energy and technology group and Europe’s largest independent energy retailer. Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have over 1,700 combined years of engineering experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems. Vertical’s top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification allows for a lean cost structure and enables production at scale. Vertical has a market-leading pre-order book (by value) for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes conditional pre-order options from Virgin Atlantic and Marubeni, and in doing so, is creating multiple potential near term and actionable routes to market. Vertical’s ordinary shares listed on the NYSE in December 2021 under the ticker “EVTL”. Find out more: vertical-aerospace.com
About Avolon
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s second largest aircraft leasing business with an owned, managed and committed fleet, as of 31 December 2021 of 824 aircraft. Website: avolon.aero
About VX4 eVTOL Aircraft
The four passenger, one pilot VX4 is projected to have speeds up to 200mph, a range over 100 miles, near silent when in flight, zero operating emissions and low cost per passenger mile. The VX4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel.
Vertical Media Kit
Available here
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the certification and the commercialization of the VX4, the differential strategy compared to its peer group, and the transition towards a net-zero emissions economy, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “are likely to” and similar statements of a future or forward-looking nature. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation, Vertical’s limited operating history without manufactured non-prototype aircraft or completed eVTOL aircraft customer order; Vertical’s history of losses and the expectation to incur significant expenses and continuing losses for the foreseeable future; the market for eVTOL aircraft being in a relatively early stage; the potential inability of Vertical to produce or launch aircraft in the volumes and on timelines projected; the potential inability of Vertical to obtain the necessary certifications on the timelines projected; the potential that certain of Vertical’s strategic partnerships may not materialize into long-term partnership arrangements; the impact of COVID-19 on Vertical’s business; as a foreign private issuer and intend to follow certain home country corporate governance rules, Vertical not be subject to U.S. proxy rules and will be subject to Exchange Act reporting obligations that, to some extent, are more lenient and less frequent than those of a U.S. domestic public company; and the other important factors discussed under the caption “Risk Factors” in Vertical’s prospectus pursuant to Rule 424(b) filed with the U.S. Securities and Exchange Commission (“SEC”) on December 1, 2021, as such factors may be updated from time to time in Vertical’s other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. Vertical disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law
Vertical Media
Samuel Emden
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Vertical Investors
Eduardo Royes
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+1 (646) 200-8871
PORTLAND, Ore.--(BUSINESS WIRE)--Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), announced today the commencement of an underwritten public offering of 2,500,000 shares of its common stock. In conjunction with this offering, NW Natural Holdings intends to grant the underwriters a 30-day option to purchase up to an additional 375,000 shares of its common stock.
The net proceeds from the offering will be used for general corporate purposes, including repayment of its short-term indebtedness and/or making equity contributions to NW Natural Holdings’ subsidiaries, Northwest Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), and NW Natural Renewables Holdings (NW Natural Renewables). Contributions to NW Natural, NW Natural Water, and NW Natural Renewables will be used for general corporate purposes. A portion of any contribution received by NW Natural may be used to repay its short-term indebtedness.
Wells Fargo Securities, J.P. Morgan and RBC Capital Markets are acting as book-running managers of the offering. Siebert Williams Shank is acting as co-manager of the offering.
This offering is being made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission, and only by means of a prospectus supplement for this offering and a related base prospectus. Copies of the prospectus supplement and related base prospectus may be obtained by contacting:
Wells Fargo Securities, LLC Attention: Equity Syndicate Department 500 West 33rd Street New York, NY 10001 Telephone: (833) 690-2713 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. |
J.P. Morgan Securities LLC c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (866) 803-9204 Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
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RBC Capital Markets, LLC Attention: Equity Syndicate 200 Vesey Street, 8th Floor New York, NY 10281 Telephone: (877) 822-4098 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. |
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
ABOUT NW NATURAL HOLDINGS
Northwest Natural Holding Company, (NYSE: NWN) is a public utility holding company headquartered in Portland, Oregon, which, through its largest subsidiary, Northwest Natural Gas Company, provides natural gas distribution service to approximately two million people in more than 140 communities through more than 785,000 meters in Oregon and Southwestern Washington. NW Natural Water provides water distribution and wastewater services to communities through the Pacific Northwest and Texas. NW Natural Renewables is investing in renewable energy and the transition to a decarbonized future with a focus on the production and supply of net low-carbon fuels supporting a variety of sectors.
Forward-Looking Statements
This press release contains forward-looking statements regarding our planned offer and sale of common stock and the use of the net proceeds from any such sale. NW Natural Holdings cannot be sure that we will complete the offering or, if we do, on what terms we will complete it. Forward-looking statements are based on current beliefs and expectations and are subject to inherent risks and uncertainties, including those discussed under the captions “Risk Factors” and “Forward-Looking Statements” in the prospectus and prospectus supplement. In addition, NW Natural Holdings’ management retains broad discretion with respect to the allocation of the net proceeds of this offering. The forward-looking statements speak only as of the date of this release, and NW Natural Holdings is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise, except as may otherwise be required by law.
Investor Contact:
Nikki Sparley
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DUBLIN--(BUSINESS WIRE)--The "North America Oil Conditioning Monitoring Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Sampling, Sensor Type, Product, Measurement, and Industry" report has been added to ResearchAndMarkets.com's offering.
Off-Site Segment to Dominate North America Oil Conditioning Monitoring Market during 2020-2028
North America Oil Conditioning Monitoring Market is expected to reach US$ 513.81 million by 2028 from US$ 321.97 million in 2021 and is estimated to grow at a CAGR of 6.9% from 2021 to 2028.
Increasing demand of cost-effective services is the major factor driving the growth of the North America oil conditioning monitoring market. However, concerns about extra costs associated with retrofitting of current systems hinder the growth of North America oil conditioning monitoring market.
North America is known for the highest rate of adoption of advanced technologies due to favorable government policies to boost innovation and strengthen infrastructure capabilities. As a result, any factor affecting performance of industries in the region hinders its economic growth.
Currently, the US is the world's worst-affected country due to the COVID-19 outbreak, which has led governments to impose several limitations on industrial, commercial, and public activities in the country, to control the spread of infection. The oil sector is in the midst of its third price crash in the last twelve months.
The industry recovered after the first two shocks, and business as usual resumed. This time, though, things are different. The current situation includes a supply shock, a historically low demand, and a worldwide humanitarian catastrophe. Furthermore, the financial and structural health of the sector is worse than in past crises.
Poor returns have been attributed to the introduction of shale, excess production, and liberal finance markets that disregarded the lack of capital discipline. With prices nearing 30-year lows and public pressure increasing, leaders recognized that change is unavoidable. The COVID-19 problem is intensifying. Therefore, the COVID-19 epidemic and its repercussions are wreaking havoc on North America's oil conditioning monitoring market
Leading companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
For instance, in 2021, SGS SA has launched a new testing facility, dedicated to Oil Conditioning Monitoring (OCM), in Coatzacoalcos, Mexico. The new laboratory provides a complete range of OCM services for many industries, including oil and gas, power generation, mining, aviation, transportation, seaports, building maintenance and construction
Report Highlights
Key Market Dynamics
Key Market Drivers
Key Market Restraints
Key Market Opportunities
Future Trends
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/5luvic
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LOS ANGELES--(BUSINESS WIRE)--Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, today announced that it has begun shipping the first production pedigree packs to a key customer that manufactures fully electric heavy-duty commercial vehicles.
This successful production launch is the culmination of a custom pack development program using Romeo’s off-the-shelf modules and battery management system. The 80 kWh packs were prototyped and manufactured in Romeo’s 112,000 square foot factory in Vernon, California.
“Romeo has just achieved a major milestone, not only for ourselves, but for zero-emissions commercial transportation as a whole. Our energy-dense batteries now power fully electric heavy-duty vehicles that are expected to travel up to 350 miles on a single charge,” said Susan Brennan, Romeo’s Chief Executive Officer. “It’s thrilling to see our battery technology enable this important step in electrification.”
Romeo will continue to expand production capacity for this and other customers in its new Cypress factory. Production is scheduled to commence in the new factory later this year with the transition from Vernon to Cypress expected to be completed during the third quarter of 2022.
About Romeo Power, Inc.
Founded in 2016 and headquartered in Los Angeles, California, Romeo Power (NYSE: RMO) is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. The Company’s suite of advanced battery electric products, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. To keep up with everything Romeo Power, please follow the Company on social media @romeopowerinc or visit www.romeopower.com.
Forward Looking Statements
Certain statements in this press release may constitute “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, express or implied statements concerning Romeo Power’s ability to develop or sell new products, or to pursue customers in new product or geographic markets, Romeo Power’s expectations regarding its future financial performance, the demand for safe, effective, affordable and sustainable EV products, Romeo Power’s ability to produce and deliver such products on a commercial scale, and Romeo Power’s expectations that its customers will adhere to contracted purchase commitments on the currently expected timeframe are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Romeo Power’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: Romeo Power’s ability to execute on its plans to develop and market new products and the timing of these development programs; Romeo Power’s ability to increase the scale and capacity of its manufacturing processes; Romeo Power’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Romeo Power’s products; the success of other competing technologies that may become available; Romeo Power’s ability to identify and integrate acquisitions; Romeo Power’s potential need for and ability to secure additional capital; the performance of Romeo Power’s products and customers; potential litigation involving Romeo Power; demand for battery cells and supply shortages; the potential effects of COVID-19; and general economic and market conditions impacting demand for Romeo Power’s products. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s filings with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from those implied by our forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Romeo Power undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For Investors:
Joe Caminiti or Ashley Gruenberg
Alpha IR Group
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312-445-2870
EMSA will be using SES’s multi-band, multi-frequency satellite services for Remotely Piloted Aircraft operations for security, rescue and pollution monitoring missions
LUXEMBOURG--(BUSINESS WIRE)--The latest contract awarded by the European Maritime Safety Agency (EMSA) will see the agency continue to use SES’s high-performance satellite connectivity services for Remotely Piloted Aircraft Systems’ (RPAS) operations, SES and EMSA announced today. Under the new agreement, SES’s managed connectivity service will allow end-users to receive and exchange RPAS data in near real-time and support the operational needs of missions at sea.
SES has been a longstanding partner of EMSA in delivering integrated maritime services that support the EU’s objectives of creating a safe, secure, green and competitive maritime sector. The new multi-year contract follows a previously-awarded agreement that enabled multiple EMSA missions with the guaranteed high-performance connectivity service for pollution monitoring, maritime safety and general maritime surveillance.
Under the new framework agreement, SES will leverage its extensive government SATCOM Ku-, Ka- and military-Ka band capacity and ground segment to continue delivering connectivity services for EMSA’s RPAS missions across multiple coastal regions of the European Union. The service will be enabling Long Endurance Remotely Piloted Aircraft Systems for medium and long-range operations. In addition, the GovSatCom-grade service will bring connectivity to the ships, enabling data-intensive applications such as distribution of audiovisual RPAS mission data, secure access to the network and connection to the headquarters on land to ensure timely decision-making.
The connectivity solution provided to EMSA is based on the REACH platform, a new capability developed by SES specifically for European governmental and institutional users requiring fast, flexible, reliable and secure connectivity. The platform allows for GovSatCom-level service for safety, security and emergency response applications.
“With the rise in number of sensors used in the RPAS missions and the subsequent additional data information flow, we require GovSatCom-level capabilities that can quickly and flexibly respond to our growing performance, security and coverage needs to support our users. We are very pleased to continue working with SES to ensure maritime safety of the European Union,” said Maja Markovčić Kostelac, Executive Director of EMSA.
“As the European Union is increasingly adopting RPAS for the maritime missions, it is our priority to deliver the fully-managed high-performance GovSatCom-grade service leveraging SES’s space and ground infrastructure, and global multi-band, multi-frequency coverage. This enables the end user with the information and tools they need to carry out safe and successful missions, including remote monitoring and real-time situational awareness,” said Philippe Glaesener, Senior Vice President for Defence, Security and Institutions at SES. “And we do not stop here. SES continues putting in place innovative multi-orbit solutions, further expanding government services to meet the growing demand.”
The new agreement with EMSA will allow the European Union member states to access SES’s extensive Ku- and Ka- bands on seven SES satellites, as well as the GovSat-1 satellite’s government military-Ka band and GovSat’s secure missions operations centre in Europe. SES is the only company that operates a total of 70 satellites including over 50 geostationary as well as 20 non-geostationary Medium Earth Orbit satellites providing carrier-grade SATCOM connectivity globally.
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About EMSA
The European Maritime Safety Agency (EMSA) is a decentralised agency of the EU, based in Lisbon, Portugal. EMSA serves the EU’s maritime interests for a safe, secure, green and competitive maritime sector, delivering value for member states through support for pollution prevention and response, maritime surveillance, safety and security, digitalisation and the provision of integrated maritime services, and technical assistance.
About SES
SES has a bold vision to deliver amazing experiences everywhere on earth by distributing the highest quality video content and providing seamless connectivity around the world. As the leader in global content connectivity solutions, SES operates the world’s only multi-orbit constellation of satellites with the unique combination of global coverage and high performance, including the commercially-proven, low-latency Medium Earth Orbit O3b system. By leveraging a vast and intelligent, cloud-enabled network, SES is able to deliver high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to the world’s leading telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners. SES’s video network carries over 8,400 channels and has an unparalleled reach of 361 million households, delivering managed media services for both linear and non-linear content. The company is listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at: www.ses.com.
For further information please contact:
Suzanne Ong
External Communications
Tel. +352 710 725 500
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