HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced a cash distribution to the holders of its units of beneficial interest of $0.016000 per unit, payable on April 14, 2022 to unitholders of record on March 31, 2022. The net profits interest calculation represents reported oil production for the month of December 2021 and reported natural gas production during November 2021. The calculation includes accrued costs incurred in January 2022.
The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations.
|
|
Underlying Sales Volumes |
|
Average Price |
||||||||||
|
|
Oil |
|
Natural Gas |
|
Oil |
|
Natural Gas |
||||||
|
|
Bbls |
|
Bbls/D |
|
Mcf |
|
Mcf/D |
|
(per Bbl) |
|
(per Mcf) |
||
Current Month |
|
40,390 |
|
1,303 |
|
290,847 |
|
9,695 |
|
$ |
73.25 |
|
$ |
4.96 |
Prior Month |
|
44,180 |
|
1,473 |
|
325,962 |
|
10,515 |
|
$ |
76.45 |
|
$ |
5.31 |
Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $3.0 million for the current month on realized wellhead prices of $73.25/Bbl, down $0.4 million from the prior month distribution period.
Recorded natural gas cash receipts from the Underlying Properties totaled $1.4 million for the current month on realized wellhead prices of $4.96/Mcf, down $0.3 million from the prior month distribution period.
Total accrued operating expenses for the period were $2.3 million, an increase of $0.2 million from the prior period. Capital expenditures increased $0.3 million from the prior period to $0.9 million, primarily associated with four non-operated wells being drilled by a private equity-backed operator in the Permian.
Given the increase in rig count and operator activity on the Underlying Properties, COERT Holdings 1 LLC, the sponsor of the Trust (the “Sponsor”), has withheld $0.3 million from the current month’s net profits to establish a cash reserve for approved, future development expenses expected to be incurred this year. To date, the Sponsor has established a total reserve of $0.3 million for approved development expenses expected to be incurred this year.
About Permianville Royalty Trust
Permianville Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain, predominantly non-operated, oil and gas properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.permianvilleroyaltytrust.com.
Forward-Looking Statements and Cautionary Statements
This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from the Sponsor with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have experienced significant fluctuation since the beginning of 2020 as a result of a variety of factors that are beyond the control of the Trust and the Sponsor. Low oil and natural gas prices will reduce profits to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. Other important factors that could cause actual results to differ materially include expenses of the Trust, reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. In addition, future monthly capital expenditures may exceed the average levels experienced in 2020 and prior periods. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither the Sponsor nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by the Trust is subject to the risks described in the Trust’s filings with the SEC, including the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 23, 2021. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.
Permianville Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell 1 (512) 236-6555
DUBLIN--(BUSINESS WIRE)--The "Global Green Bond Market - Analysis By Type of Issuer, Sector, By Region, By Country (2022 Edition): Market Insights and Forecast with Impact of COVID-19 (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
The Global Green Bond Market was valued at USD 433.30 Billion in the year 2021.
Green bonds are used to fund green projects such as renewable energy, clean transportation, and long-term water management. Government Backed Entities, Non-Financial Corporates, Financial Corporates, Sovereign, Development Banks, Local Government, and other sectors are frequently used to segment green bonds.
Green bonds can also be categorized based on issuer kinds, issuing currency, issue deal size, and other factors. The green bond market is expected to rise in response to expanding demand for renewable energy, clean drinking water, and sanitation, rising concern about CO2 emissions, more awareness about forest protection, and global urbanization, among other factors.
Based on Type of Issuer, the market is segmented into Non-Financial Corporate, Financial Corporate, Government-Backed Entity, Development Bank, Others. The Non-Financial Corporate segment is expected to grow at a higher CAGR during the forecast period as the investment in Green Bond Market is growing by this segment.
Europe is estimated to hold the maximum share in the global Green Bond Market in 2021. During the forecast period, Asia-Pacific is set to be the fastest-growing regional market. Furthermore, Asia-Pacific is seeing great growth as a result of a variety of factors. Several factors have contributed to the rapid growth of green bond markets in Asia-Pacific.
At a broad level, investors are becoming more conscious of the need for sustainable investment, with a recent survey finding that nearly two-thirds of Asian investors are eager to make their investments more sustainable. Green bond issuance has piqued the interest of governments in the region.
Countries looking to expand renewable energy can turn to the bond market, which now includes an increasing number of securities dedicated to environmentally friendly, climate-safe project financing. Renewable energy has risen to prominence as a significant beneficiary of green bond profits.
The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include:
Scope of the Report:
Company Profiles (Business Description, Financial Analysis, Business Strategy)
Key Target Audience:
Key Topics Covered:
1. Report Scope and Methodology
2. Strategic Recommendations
3. Global Green Bond Market: Product Overview
4. Global Green Bond Market: An Analysis
5. Global Green Bond Market Segmentation Analysis
6. Global Green Bond Market: Analysis By Sector
7. Global Green Bond Market: Regional Analysis
8. Americas Green Bond Market: An Analysis (2017-2027)
9. Europe Green Bond Market: An Analysis (2017-2027)
10. Asia-Pacific Green Bond Market: An Analysis (2017-2027)
11. Global Green Bond Market Dynamics
12. Market Attractiveness
13. Competitive Landscape
14. Global Green Bond Market: Recent Developments, Merger & Acquisition
15. Global Green Bond Market: Major Key Players Bonds & Deals
For more information about this report visit https://www.researchandmarkets.com/r/afumbe
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
HOUSTON--(BUSINESS WIRE)--PACIFIC COAST OIL TRUST (OTC–ROYTL) (the “Trust”), a royalty trust formed by Pacific Coast Energy Company LP (“PCEC”), announced today that there will be no cash distribution to the holders of its units of beneficial interest of record on March 28, 2022 based on the Trust’s calculation of net profits generated during January 2022 (the “Current Month”) as provided in the conveyance of net profits interests and overriding royalty interest (the “Conveyance”). Given the Trust’s receipt of insufficient monthly income from its net profits interests and overriding royalty interest during 2020 and 2021, the Trust had been expected to terminate by its terms at the end of 2021; however, as described further below, a court has issued a temporary restraining order enjoining the dissolution of the Trust until an arbitration tribunal can rule on the plaintiff’s request for injunctive relief. As described further below, based on information from PCEC, the likelihood of distributions to the unitholders in the foreseeable future is extremely remote. All financial and operational information in this press release has been provided to the Trustee by PCEC.
The Current Month’s distribution calculation for the Developed Properties resulted in operating income of approximately $1.4 million. Revenues from the Developed Properties were approximately $3.4 million, lease operating expenses including property taxes were approximately $1.8 million, and development costs were approximately $174,000. The average realized price for the Developed Properties was $79.42 per Boe for the Current Month, as compared to $69.74 per Boe in December 2021. Oil prices generally have continued to rise in recent months, following the sharp decline in the first quarter of 2020, and were higher in the Current Month as compared to November 2020. The cumulative net profits deficit amount for the Developed Properties declined approximately $1.1 million, to approximately $19.9 million in the Current Month versus approximately $21.0 million in the prior month.
The Current Month’s calculation included approximately $109,000 generated from the 7.5% overriding royalty interest on the Remaining Properties from Orcutt Diatomite and Orcutt Field. Average realized prices for the Remaining Properties were $77.82 per Boe in the Current Month, as compared to $67.76 per Boe in December 2021. The cumulative net profits deficit for the Remaining Properties decreased by approximately $226,000 and was approximately $1.9 million for the Current Month.
The monthly operating and services fee of approximately $96,000 payable to PCEC, together with Trust general and administrative expenses of approximately $30,000 together exceeded the payment of approximately $109,000 received from PCEC from the 7.5% overriding royalty interest on the Remaining Properties, creating a shortfall of approximately $17,000.
PCEC has provided the Trust with a $1 million letter of credit to be used by the Trust if its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. As of March 31, 2021, the letter of credit has been fully drawn down. Further, the trust agreement provides that if the Trust requires more than the $1 million under the letter of credit to pay administrative expenses, PCEC will, upon written request of the Trustee, loan funds to the Trust in such amount as necessary to pay such expenses. Under the trust agreement, the Trust may only use funds provided under the letter of credit or loaned by PCEC or another source to pay the Trust’s current accounts or other obligations to trade creditors in connection with obtaining goods or services or for the payment of other accrued current liabilities arising in the ordinary course of the Trust’s business. As the Trust has fully drawn down the letter of credit, PCEC will be loaning funds to the Trust to pay the expected shortfall of approximately $17,000, which would bring the total amount of outstanding borrowings (including the amount drawn from the letter of credit, which also must be repaid as provided in the trust agreement) from PCEC to approximately $3.3 million plus interest thereon, related to shortfalls from prior months. Consequently, no further distributions may be made to Trust unitholders until the Trust’s indebtedness created by such amounts drawn or borrowed, including interest thereon, has been paid in full.
Sales Volumes and Prices
The following table displays PCEC’s underlying sales volumes and average prices for the Current Month: |
|||||
Underlying Properties |
|||||
Sales Volumes |
Average Price |
||||
(Boe) |
(Boe/day) |
(per Boe) |
|||
Developed Properties (a) |
42,701 |
1,377 |
|
$79.42 |
|
Remaining Properties (b) |
19,170 |
618 |
$77.82 |
||
(a) Crude oil sales represented 99% of sales volumes |
|||||
(b) Crude oil sales represented 100% of sales volumes |
|||||
Update on Estimated Asset Retirement Obligations
As previously disclosed, in November 2019, PCEC informed the Trustee that, as permitted by the Conveyance, PCEC intended to begin deducting its estimated asset retirement obligations (“ARO”) associated with the West Pico, Orcutt Hill, Orcutt Hill Diatomite, East Coyote and Sawtelle fields, thereby reducing the amounts payable to the Trust under its Net Profits Interests. ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face. PCEC engaged an accounting firm, Moss Adams LLP (“Moss Adams”), acting as third-party consultants, to assist PCEC in determining its estimated ARO, and on February 27, 2020, PCEC informed the Trustee that based on the analysis performed by Moss Adams, PCEC’s estimated ARO, as of December 31, 2019, was $45,695,643, which is approximately $10.0 million less than the undiscounted amount that was originally estimated before Moss Adams completed its analysis, as previously disclosed in the Trust’s Current Report on Form 8‑K filed on November 13, 2019. According to PCEC and its third-party consultants, its estimated ARO, which reflected PCEC’s assessment of current market conditions as of December 31, 2019 and changes in California law, was determined to be approximately $33.2 million for the Developed Properties and approximately $12.5 million for the Remaining Properties, or approximately $26.5 million and approximately $3.1 million net to the Trust, respectively, and PCEC has reflected these amounts beginning with the calculation of the net profits generated during January 2020. The accrual has resulted in a current cumulative net profits deficit of approximately $23.3 million, which must be recouped from proceeds otherwise payable to the Trust from the Trust’s Net Profits Interests. Therefore, until the net profits deficit is eliminated, the only cash proceeds the Trust will receive are pursuant to the 7.5% overriding royalty interest.
PCEC has informed the Trustee that in accordance with generally accepted accounting principles, PCEC will evaluate the ARO on a quarterly basis. As a result of that re-evaluation, the actual ARO incurred in the future may be greater or less than the estimated amounts provided by PCEC. As previously disclosed, PCEC has informed the Trustee that at year-end 2020, and following the end of each of the first, second and third quarters of 2021, in light of the accounting guidance under Accounting Standards Codification 410-20-35-3, which requires the recognition of changes in the asset retirement obligation due to the passage of time and revision of the timing or amount of the originally estimated undiscounted cash flows, PCEC re-evaluated the estimated ARO, which resulted in an aggregate increase to the ARO accrual for the Developed Properties by approximately $5.1 million, net to the Trust’s interest, and an aggregate increase to the ARO accrual for the Remaining Properties by approximately $288,000, net to the Trust’s interest.
Based on PCEC’s estimate of its ARO attributable to the Net Profits Interest, deductions relating to estimated ARO are likely to eliminate the likelihood of any distributions to Trust unitholders for the foreseeable future, as previously disclosed in the Trust’s Current Report on Form 8-K filed on November 13, 2019.
As previously disclosed, the Trust engaged Martindale Consultants, Inc. (“Martindale”), a provider of analysis and compliance review services to the oil and gas industry, to perform an independent review of the estimated ARO in the Moss Adams report that PCEC provided to the Trustee. The Trustee also has engaged an accounting expert to advise the Trustee regarding the accruals that PCEC has booked relating to its estimated ARO. As disclosed in the Trust’s Current Report on Form 8-K filed on December 29, 2020, Martindale has completed its review of the estimated ARO and on December 21, 2020 provided its analysis and recommendations to the Trustee. Based on Martindale’s recommendations provided in its report to the Trust, as disclosed in the Trust’s Current Report on Form 8-K filed on December 29, 2020, the Trustee requested that PCEC promptly make several adjustments to its calculations and methods of deducting ARO from the proceeds to which the Trust is otherwise entitled pursuant to its Net Profits Interests. PCEC has responded to the Trustee, indicating PCEC’s view that the adjustments would violate applicable contracts and accounting standards, and has therefore declined to make any adjustments to the estimated ARO calculation based on those requests and the recommendations of the Martindale report. The Trustee has concluded that it has taken all action reasonably available to it under the Trust’s governing documents in connection with PCEC’s ARO calculation and therefore has determined not to take further action at this time.
As described in more detail in the Trust’s filings with the SEC, the trust agreement provides that the Trust will terminate if the annual cash proceeds received by the Trust from the Net Profits Interests and 7.5% overriding royalty interest total less than $2.0 million for each of any two consecutive calendar years. Because of the cumulative net profits deficit—which PCEC contends is the result of the substantial reduction in commodity prices during 2020 due to the COVID-19 pandemic and PCEC’s deduction of estimated ARO beginning in the first quarter of 2020—the only cash proceeds the Trust has received since March 2020 have been attributable to the 7.5% overriding royalty interest. As a result, the total proceeds received by the Trust in each of 2020 and 2021 were less than $2.0 million. Therefore, the Trust had been expected to terminate by its terms at the end of 2021.
Status of the Dissolution of the Trust
As previously disclosed in the Trust’s Current Report on Form 8-K filed on December 23, 2021, on December 8, 2021, Evergreen Capital Management LLC (“Evergreen”) filed an Amended Class Action and Shareholder Derivative Complaint alleging a derivative action on behalf of the Trust and against PCEC in the Superior Court of the State of California for the County of Los Angeles (the “Court”).
On December 10, 2021, Evergreen filed a motion for a preliminary injunction, seeking to (1) enjoin the Trustee from dissolving the Trust, (2) enjoin PCEC from dissolving the Trust, (3) direct PCEC to account for all monies withheld from the Trust on the basis of ARO costs since September 2019, and (4) direct PCEC to place such monies in escrow. Also on December 10, 2021, Evergreen filed a motion for a temporary restraining order, seeking to (1) enjoin the dissolution of the Trust, (2) enjoin the Trustee from taking any action toward the dissolution of the Trust, and (3) enjoin PCEC from taking any action toward the dissolution of the Trust.
On December 16, 2021, the Court granted Evergreen’s application for a temporary restraining order. Accordingly, the Trust did not dissolve at the end of 2021 and commence the process of selling its assets and winding up its affairs. On January 11, 2022, PCEC and Evergreen filed an agreed stipulation, which the Court approved, to stay the prosecution of Evergreen’s derivative claims pending an arbitration of such claims. On January 13, 2022, the Court signed an Order dissolving the December 16, 2021, temporary restraining order and entering a new temporary restraining order (the “Arbitration TRO”) to preserve the status quo until a tribunal of three arbitrators appointed pursuant to the trust agreement can rule on any request by Evergreen for injunctive relief. The Arbitration TRO will dissolve upon a ruling by the arbitration tribunal granting or denying, in whole or in part, a request by Evergreen for injunctive relief. Any dissolution of the Trust will not occur until after there is a final order on Evergreen’s request for injunctive relief.
Production Update
PCEC has informed the Trustee that PCEC continues to strategically deploy capital to enhance production. Costs associated with returning wells to service must be recovered before cash flow to the Trust can be created. Although oil prices have improved significantly from their lowest levels in 2020, any monthly payments that PCEC may make to the Trust may not be sufficient to cover the Trust’s administrative expenses and outstanding debt to PCEC, and therefore the likelihood of distributions to the unitholders in the foreseeable future is extremely remote.
Overview of Trust Structure
Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California (the “Underlying Properties”). The Underlying Properties and the Trust’s net profits, and royalty interests are described in the Trust’s filings with the SEC. As described in the Trust’s filings with the SEC, the amount of any periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, development expenses, and the amount and timing of the Trust’s administrative expenses, among other factors. For additional information on the Trust, please visit https://royt.q4web.com/home/default.aspx.
Cautionary Statement Regarding Forward-Looking Information
This press release contains statements that are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are "forward-looking statements" for purposes of these provisions. These forward-looking statements include estimates of future asset retirement obligations, expectations regarding the impact of deductions for such obligations on future distributions to unitholders, estimates of future total distributions to unitholders, expectations regarding the outcome of the legal proceedings relating to the Trust and any future dissolution of the Trust, expectations regarding the impact of lower commodity prices on oil and gas reserve estimates, statements regarding the impact of returning shut-in wells to production, expectations regarding PCEC’s ability to loan funds to the Trust, and the amount and date of any anticipated distribution to unitholders. In any case, PCEC’s deductions of its estimated asset retirement obligations will have a material adverse effect on distributions to the unitholders and on the trading price of the Trust units and may result in the termination of the Trust. Any anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from PCEC with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will be significantly and negatively affected by low commodity prices, which declined significantly during 2020, could decline again and could remain low for an extended period of time as a result of a variety of factors that are beyond the control of the Trust and PCEC. Other important factors that could cause actual results to differ materially include expenses related to the operation of the Underlying Properties, including lease operating expenses, expenses of the Trust, and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither PCEC nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by Pacific Coast Oil Trust is subject to the risks described in the Trust's Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on March 8, 2019, and if applicable, the Trust’s subsequent Quarterly Reports on Form 10-Q. The Trust's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q are available over the Internet at the SEC's website at http://www.sec.gov.
Pacific Coast Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
1(512) 236-6555
SANTA CRUZ, Calif.--(BUSINESS WIRE)--Joby Aviation, Inc. (NYSE:JOBY), a California-based company developing all-electric aircraft for commercial passenger service, today announced the completion and subsequent approval of its first Systems Review and its first Compliance Review by the Federal Aviation Administration (“FAA”).
These reviews, completed at the end of last year, were recently granted approval by the FAA, providing the Company with confidence in its development approach, preliminary production design, and defined path toward certification.
The Systems Review assessed Joby’s plans and process for the development of complex, safety-critical, aerospace-grade systems and equipment. Systems involved in the review included flight controls, propulsion controls, battery management, among many others.
The Compliance Review evaluated Joby’s approach to the development and verification of aerospace-grade software and airborne electronic hardware.
“The safety of modern aircraft owe much to rigorous, well-defined and repeatable development and verification processes. Successfully completing our first System Review and Compliance Review demonstrates that Joby’s engineering practices are maturing to a level where they can be applied for the most demanding safety-critical development while producing all the required certification data to prove our design to one of the world’s toughest and most respected regulators,” said Tom Ferrell, Development Assurance Lead at Joby.
“We will now proceed to the second round of reviews, which focus on the outputs of Joby’s development process, including validation of certification requirements, design capture, and implementation of that design in both hardware and software.”
Earlier this month, Joby announced it had completed its first series of FAA conformity tests to confirm the material strength of the composite material comprising the aerostructure of the aircraft. In 2020, Joby became the first and only eVTOL company to sign a G-1 (stage 4) certification basis with the FAA, having received an initial (stage 2) signed G-1 from the FAA in 2019.
Joby’s piloted five-seat electric vertical take-off and landing (eVTOL) aircraft can carry four passengers at speeds of up to 200 mph (320 km/h), with a maximum range of 150 miles (240 km). With more than 10 years of development and over a thousand flight tests completed, Joby is targeting the launch of its aerial ridesharing service in 2024.
ABOUT JOBY AVIATION
Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient air taxi service beginning in 2024. The aircraft, which has a maximum range of 150 miles on a single charge, can transport a pilot and four passengers at speeds of up to 200 mph. It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transit. Founded in 2009, Joby employs around 1,000 people, with offices in Santa Cruz, San Carlos, and Marina, California, as well as Washington, D.C. and Munich, Germany. To learn more, visit www.jobyaviation.com.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of our aircraft including our initial plant capacity and regulatory outlook; our business plan, objectives, goals and market opportunity; and our current expectations relating to our business, financial condition, results of operations, prospects and capital needs. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, "expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our limited operating history and history of losses; our ability to launch our aerial ridesharing service and the growth of the urban air mobility market generally; our plans to operate a commercial passenger service beginning in 2024; the competitive environment in which we operate; our future capital needs; our ability to adequately protect and enforce our intellectual property rights; our ability to effectively respond to evolving regulations and standards relating to our aircraft; our reliance on a third-party suppliers and service partners; uncertainties related to our estimates of the size of the market for its aircraft and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in our Registration Statement on Form S-1 (File No. 333-260608), filed with the Securities and Exchange Commission on October 29, 2021, and in other reports we file with or furnish to the Securities and Exchange Commission. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While Joby may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change.
Investors: This email address is being protected from spambots. You need JavaScript enabled to view it.
+1-831-201-6006
Media:
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--NOV Inc. (NYSE: NOV) will hold a conference call to discuss its first quarter 2022 results on Friday, April 29, 2022 at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, April 28, 2022. The call will be webcast live on www.nov.com/investors.
About NOV
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.
Visit www.nov.com for more information.
Blake McCarthy
Vice President, Corporate Development and Investor Relations
(713) 815-3535
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NASDAQ: BKR) will hold a webcast on Wednesday, April 20, 2022 to discuss the results for the first quarter ending March 31, 2022. The webcast is scheduled to begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). A press release announcing the results will be issued at 7:00 a.m. Eastern Time (6:00 a.m. Central Time).
To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the website following the webcast.
About Baker Hughes:
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
Investor Relations
Jud Bailey
+1 281-809-9088
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Relations
Thomas Millas
+1 713-879-2862
This email address is being protected from spambots. You need JavaScript enabled to view it.
PARIS--(BUSINESS WIRE)--Technip Energies (PARIS:TE) (the “Company”), a leading Engineering & Technology company for the Energy Transition, today publishes its 2021 Annual Report.
The Company filed its 2021 Annual Report with the Dutch Authority for the Financial Markets (AFM).
The 2021 Annual Report is available on: https://investors.technipenergies.com/financial-information/results-center
Technip Energies will hold its Annual General Meeting in Schiphol, the Netherlands on May 5, 2022. The convocation, agenda and all related documents will be available at https://investors.technipenergies.com/events-presentations/agm on March 24, 2022.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts (“ADRs”) program, with its ADRs trading over-the-counter. For further information: www.technipenergies.com.
Investor Relations
Phillip Lindsay
Vice-President, Investor Relations
+44 203 429 3929
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Relations
Stella Fumey
Director, Press Relations & Digital Communications
+33 1 85 67 40 95
This email address is being protected from spambots. You need JavaScript enabled to view it.
Jason Hyonne
Press Relations & Social Media Lead
+33 1 47 78 22 89
This email address is being protected from spambots. You need JavaScript enabled to view it.
Rule 21 Enables Capstone Green Energy to Comply with New California Power Generation Communication and Control Requirements
VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #CaliforniaRule21--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green Energy as a Service (EaaS) solutions, announced today that the C65 and C200 inverters have received certification for California Rule 21 tariff requirements. The certification builds upon Capstone’s previous successes with UL1741 SA and prepares inverters for meeting the new UL1741 Supplement B.
“Our Capstone engineering team works continuously to stay ahead of the growing number of new global grid interconnect requirements and standards,” stated Darren Jamison, President and Chief Executive Officer of Capstone. “Country specific standards continue to evolve, and while they are starting to adopt similar standards in certain areas, they are different enough to require detailed software changes and extensive testing in our state-of-the-art grid simulation lab,” added Mr. Jamison.
The controller integrated solution includes a gateway module that facilitates two-way utility connections for remote monitoring, as well as dispatching updated settings for inverter output response. The gateway acts as a communications protocol converter, allowing a utility connection based on IEEE 2030.5 and the Sunspec Common Smart Inverter Profile (CSIP) to read and write data using the proprietary Capstone protocol integrated into the microturbine Smart Inverters. The gateway is also certified as a standalone device in the event that a full feature controller is not required.
“Staying current on the evolving global grid interconnect standards is no small task,” said Don Ayers, Vice President of Technology. “In the case of the Rule 21 certification, we utilized combined resources within the company to ensure that we could complete this project, while continuing to make progress on other challenging grid interconnect projects, particularly for the German market. The success of this project was truly the result of cross-departmental collaboration, along with maintaining close relationships with our external partners,” added Mr. Ayers.
At the turn of the century, traditional grid standards were still primarily focused on ensuring the safe adoption of power generation equipment. However, as photovoltaic (PV) and wind generation accelerated in Germany in the 2000’s, these standards evolved to guide the impact of inverters on grid integrity. The evolution of grid standards has expanded to every country, including the United States, Italy, Australia, and Great Britain, where standards have been developed to meet unique grid infrastructure needs. More recently, these standards continue to advance with the adoption of utility monitoring and control of distributed generating assets, such as Rule 21.
“While we have a small team dedicated to certification and surveillance, we have been able to partner with different Nationally Recognized Testing Laboratories (NRTLs) to stay on top of constantly evolving grid requirements that are promulgated,” said Victor Kong, Director of Product Engineering at Capstone Green Energy. “Ultimately, Capstone can meet these standards for the majority of customer sites, which only involves a quick software update with minimal downtime and no hardware changes.”
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it.. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three full fiscal years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Schlumberger today provided the following update with regard to its operations in Russia:
“We have watched with immense concern as the conflict in Ukraine has escalated,” said Chief Executive Officer Olivier Le Peuch. “First and foremost, we are deeply focused on the health, safety and security of our employees, colleagues and their families in Ukraine, Russia and throughout the region.
“As the situation has developed, we have been evaluating our path forward, and have decided to immediately suspend new investment and technology deployment to our Russia operations. We continue to actively monitor this dynamic situation and will fulfill any existing activity in full compliance with applicable international laws and sanctions.
“Safety and security are at the core of who we are as a company, and we urge a cessation of the conflict and a restoration of safety and security in the region.”
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, Schlumberger collaborates to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com.
Media
Josh Byerly – Vice President of Corporate Communication, Schlumberger Limited
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
This email address is being protected from spambots. You need JavaScript enabled to view it.
ST. CATHARINES, Ontario--(BUSINESS WIRE)--#yourmarinecarrierofchoice--Algoma Central Corporation (“Algoma” or the “Company”) (TSX:ALC), a leading provider of marine transportation services, announced today that the Toronto Stock Exchange (“TSX”) has accepted its notice of intention to proceed with the renewal of its normal course issuer bid (the “NCIB”).
Algoma’s Board of Directors believes that the market price of Algoma’s common shares (“Shares”), from time to time, may not reflect the inherent value of the Company and purchases of Shares pursuant to the NCIB may represent an appropriate and desirable use of funds. Any purchases made under the NCIB will be made by Algoma subject to favourable market conditions at the prevailing market price at the time of acquisition through the facilities of the TSX and/or alternative Canadian trading systems.
Pursuant to the notice, during the twelve month period commencing March 21, 2022 and ending March 20, 2023, Algoma may purchase up to 1,890,047 of its Shares, representing approximately 5% of the 37,800,943 Shares that were issued and outstanding as of March 9, 2022. Under the NCIB, other than purchases made pursuant to block purchase exemptions, Algoma may purchase up to 1,517 Shares on the TSX during any trading day, which represents approximately 25% of the average daily trading volume of the Shares on the TSX for the past six calendar months, being 6,070 Shares. Any Shares purchased under the NCIB will be cancelled.
In conjunction the renewal of the NCIB, Algoma has entered into a new automatic share purchase plan (the “ASPP”) with a designated broker to allow for the purchase of its Shares under the NCIB at times when Algoma normally would not be active in the market due to applicable regulatory restrictions or internal trading black-out periods.
Before the commencement of any particular internal trading black-out period, Algoma may, but is not required to, instruct its designated broker to make purchases of Shares under the NCIB during the ensuing black-out period in accordance with the terms of the ASPP. Such purchases will be determined by the broker in its sole discretion based on parameters established by Algoma prior to commencement of the applicable black-out period in accordance with the terms of the ASPP and applicable TSX rules. Outside of these black-out periods, Shares will continue to be purchasable by Algoma at its discretion under its NCIB.
The ASPP will commence on the Company’s behalf during the quarterly blackout period of the Company for its first quarter 2022 results commencing March 31, 2022 and will terminate on the earliest of the date on which: (a) the maximum annual purchase limit under the NCIB has been reached; (b) Algoma terminates the ASPP in accordance with its terms; or (c) the NCIB expires. The ASPP constitutes an “automatic securities purchase plan” under applicable Canadian securities laws.
The Company’s previous NCIB commenced on March 19, 2021 and expires on March 18, 2022 (the “Previous NCIB”). Under the Previous NCIB, the Company obtained the approval of the TSX to purchase up to 1,890,457 Shares, which represented 5% of the 37,809,143 Shares issued and outstanding as at the close of business on March 8, 2020. The Company purchased no Shares under the Previous NCIB.
Although Algoma intends to purchase Shares under its NCIB there can be no assurances that any such purchases will be completed.
About Algoma Central Corporation
Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes - St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. Since 2010 we have introduced 10 new build vessels to our domestic dry-bulk fleet, with one under construction and expected to arrive in 2024, making us the youngest, most efficient and environmentally sustainable fleet on the Great Lakes. Each new vessel reduces carbon emissions on average by 40% versus the ship replaced. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates a diversified portfolio of dry-bulk fleets serving customers internationally. Algoma truly is Your Marine Carrier of Choice™.
Forward-looking Statements
Certain information contained in this press release may constitute forward-looking information under applicable securities laws, including statements related to Algoma’s intentions with respect to the NCIB and purchases thereunder and the effects of repurchases under the bid. Forward-looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. Much of this information can be identified by looking for words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar words. Purchases made under the NCIB are not guaranteed and may be suspended at the discretion of Algoma’s Board of Directors. Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. Forward-looking statements contained in this press release are made as of the date hereof and are subject to change. Algoma assumes no obligation to revise or update forward-looking statements to reflect new circumstances, except as required by law.
Gregg A. Ruhl
President & CEO
905-687-7890
Peter D. Winkley CPA, CA
Chief Financial Officer
905-687-7897
Or visit
www.algonet.com or www.sedar.com
HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced it immediately suspended future business in Russia as the Company complies with sanctions that prohibit transactions and work, including for certain state-owned Russian customers. Halliburton will prioritize safety and reliability as we wind down our remaining operations in Russia.
Several weeks ago, the Company halted all shipments of specific sanctioned parts and products to Russia. Halliburton has no active joint ventures there.
“The war in Ukraine deeply saddens us. We have employees in both Ukraine and Russia, and the conflict greatly impacts our people, their families, and loved ones throughout the region,” said Halliburton Chairman, President and CEO Jeff Miller. “Since the start of this conflict, we prioritized employee safety and compliance with all relevant sanctions.”
ABOUT HALLIBURTON
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
Halliburton
For Investors:
David Coleman
Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
281-871-2688
For News Media:
Emily Mir
External Affairs
This email address is being protected from spambots. You need JavaScript enabled to view it.
281-871-2601
TEMPE, Ariz.--(BUSINESS WIRE)--Moov, a data-fueled marketplace for used semiconductor manufacturing equipment, today announced the location of its new headquarters in the 100 Mill building in Tempe, Arizona.
Moov will command the 16th floor, spanning about 32,000 square feet, at 100 Mill. That 18-story tower is among the premier commercial real estate locations in Greater Phoenix. Amazon and Deloitte also are building tenants.
“With our permanent headquarters at 100 Mill, we establish Moov as among the most significant players within the semiconductor industry here in the Silicon Desert,” said Moov co-founder and CEO Steven Zhou. “Our accelerating success and funding are affirmations that Moov is filling a critical need in the semiconductor industry — creating a more flexible supply chain for capital equipment while drastically reducing procurement lead times. As the United States and other countries around the world double down on growing their domestic semiconductor manufacturing capabilities, the ability to quickly and cost-effectively source capital equipment to expand existing capacity and equip new fabs is critical.”
Moov’s new headquarters also sets the stage for the company’s plan to increase its headcount by about 300% in 2022. Moov will employ more than 150 total employees by the end of this year. About three-quarters of the new hires will be based in Greater Phoenix.
The region has become a burgeoning national semiconductor hub, attracting billions of investment dollars in recent months.
A growing urgency has pervaded the sector, as the shortage of new manufacturing equipment, especially for legacy nodes, is increasingly acute. Lead times on some types of equipment can exceed a year. Chip shortages are expected to spur a 10% increase in expenditure on semiconductor equipment this year, hitting a record high of $98 billion, according to the industry trade group SEMI.
Moov is uniquely positioned to solve a problem identified by a U.S. Department of Commerce January report: Less-advanced chips are feeling supply shortages most keenly; they are produced by equipment often no longer in production — an obstacle compounded by the fact that no unified secondary market for equipment exists.
Chicago-based Cushman & Wakefield plc (NYSE: CWK) is assisting Moov’s custom buildout with real estate and project management services.
Amenities at the state-of-the-art 100 Mill building include 10-foot floor-to-ceiling glass, a rooftop deck, a fitness center, a training room and conference center, a tenant bar and lounge, a covered outdoor first-floor patio, a lobby coffee shop, on-site bike storage and retail space spanning 7,500 square feet.
“We are investing time and resources to custom-build our new space, which will accommodate our ambitious hiring plan for the greater Phoenix area, while keeping employee wellness in mind,” Zhou said. “What can we provide to make them most productive while elevating the electric culture we’ve already created? The layout of our new headquarters space encourages easier cross-functional collaboration and sets all Moovers up for success. We’ve also been intentional in the design. It will have stations that accommodate various styles of working: standing, sitting, ‘relaxed,’ private, collaborative, etcetera. We’ll also have unique areas for relaxation and fun that all organically build a sense of camaraderie, where our teammates can gather and talk about things outside of work initiatives.”
Greater Phoenix continues to grow in importance to the U.S. semiconductor industry.
California-headquartered Intel Corp. (Nasdaq: INTC) last year announced it would invest $20 billion to build two new semiconductor factories at the chip company’s Chandler campus. And, the investment by Taiwan Semiconductor Manufacturing Co. in its already-under-construction semiconductor fabrication facility in north Phoenix ultimately could reach roughly $35 billion.
The region now is home to more than 75 semiconductor and related device manufacturing operations that employ nearly 20,000 people, according to the Greater Phoenix Economic Council’s 2021 Semiconductor Industry Report. The council’s current prospect pipeline includes 40 semiconductor manufacturers and related supply chain firms that could bring an additional number of jobs surpassing 10,000 and $45 billion in capital investment to the region. Semiconductor and related device manufacturing jobs in Phoenix grew 10.94% from 2020 to 2021.
Additionally, Moov is contributing to Metro Phoenix’s and Tempe’s boom in the general tech-job market. City of Tempe data shows that Metro Phoenix ranks third nationally in tech talent markets for growth, with Tempe No. 1 within the metro area. Bestplaces.net projects Tempe job growth during the next decade to be 49.9% — significantly higher than the national average of 33.5%. SmartAsset last year listed Tempe No. 7 in its rankings of America’s top boomtowns.
About Moov Technologies Inc.
Headquartered in Tempe, Arizona, and Austin, Texas, Moov is a technology-driven marketplace and asset management platform that matches buyers and sellers of pre-owned semiconductor manufacturing equipment. Built by a team with more than 50 years of experience in the manufacturing equipment brokerage industry, Moov’s platform ensures accurate listings and faster transactions. CEO Steven Zhou and Managing Director Maxam Yeung co-founded the company in 2017. Moov employs more than 50 people, and also boasts a presence in San Francisco; Shanghai, China; and Taipei, Taiwan. To learn more, please visit Moov.co.
Media contact
Treble
Michael Kellner
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Regulatory News:
Schlumberger (SLB: NYSE)
Schlumberger today provided the following update with regard to its operations in Russia:
“We have watched with immense concern as the conflict in Ukraine has escalated,” said Chief Executive Officer Olivier Le Peuch. “First and foremost, we are deeply focused on the health, safety and security of our employees, colleagues and their families in Ukraine, Russia and throughout the region.
“As the situation has developed, we have been evaluating our path forward, and have decided to immediately suspend new investment and technology deployment to our Russia operations. We continue to actively monitor this dynamic situation and will fulfill any existing activity in full compliance with applicable international laws and sanctions.
“Safety and security are at the core of who we are as a company, and we urge a cessation of the conflict and a restoration of safety and security in the region.”
About Schlumberger
Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, Schlumberger collaborates to create technology that unlocks access to energy for the benefit of all.
Find out more at www.slb.com.
Media
Josh Byerly – Vice President of Corporate Communication, Schlumberger Limited
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
This email address is being protected from spambots. You need JavaScript enabled to view it.
BARCELONA, Spain--(BUSINESS WIRE)--Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced its participation in two upcoming institutional investor-focused events following the release of its fourth quarter and full year financial results:
JP Morgan Global ESG Conference on March 24, 2022 at 11:00am GMT
Founder and CEO Enric Asuncion will join this virtual panel discussion on the electrification of Europe and the future of EV charging. Audience Q&A will follow. Interested institutional investors that are clients of JP Morgan should contact their sales person directly.
Piper Sandler EV Charging Day on April 5th at 10:00am EDT
Enric Asuncion will join Piper Sandler for this event and host investor meetings immediately following. This virtual event will be webcasted and can be accessed via the Events and Presentations section of the Investor Relations website at investors.wallbox.com.
About Wallbox
Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users' relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 98 countries. Founded in 2015 and headquartered in Barcelona, the company now employs over 900 people in its offices in Europe, Asia, and the Americas. For additional information, please visit www.wallbox.com.
Wallbox Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the timing of upcoming conferences and events. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “predict,” “potential,” “continue” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements, including those discussed under the caption “Risk Factors” in Wallbox’s final prospectus on Form 424(b)(3) filed with the SEC on November 12, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
Wallbox Public Relations Contact:
Elyce Behrsin
Public Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
+34 622 513 358
Wallbox Investor Contact:
Matt Tractenberg
VP, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 404-574-1504
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) today announced that Roger W. Jenkins, President and Chief Executive Officer, will present at the Scotia Howard Weil Energy Conference on Tuesday, March 22, 2022 at 2:30 p.m. Eastern Daylight Time (EDT).
The live video webcast presentation will be available on the company’s website at http://ir.murphyoilcorp.com.
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.
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
DAYTON, Ohio--(BUSINESS WIRE)--REX American Resources Corporation (NYSE American: REX), a leading ethanol company, announced today that it will report its fiscal 2021 fourth quarter financial results on Wednesday, March 23, pre-market and will host a conference call and webcast at 11:00 a.m. ET that morning to review the results.
To access the conference call, interested parties may dial 212/231-2936 (domestic and international callers). Participants can also listen to a live webcast of the call by going to the Investors section on the REX website at www.rexamerican.com. A webcast replay will be available for 30 days following the live event.
About REX American Resources Corporation
REX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 691 million gallons of ethanol over the twelve-month period ended October 31, 2021. REX’s effective ownership of the trailing twelve-month gallons shipped (for the twelve months ended October 31, 2021) by the ethanol production facilities in which it has ownership interests was approximately 279 million gallons. Further information about REX is available at www.rexamerican.com.
Douglas Bruggeman
Chief Financial Officer
937/276‑3931
This email address is being protected from spambots. You need JavaScript enabled to view it.
Joseph Jaffoni, Norberto Aja
JCIR
212/835-8500
OSAKA, Japan--(BUSINESS WIRE)--Osaka Gas Co., Ltd. (Osaka Gas) today announced its wholly owned subsidiary, Osaka Gas Singapore Pte. Ltd. (OGS), has entered into an agreement with energy-related companies in Singapore including City Energy Pte. Ltd. (as Trustee of City Energy Trust) and City-OG Gas Energy Services Pte. Ltd. (City-OG) to conduct a feasibility study on a methanation project in Singapore.
Methanation is a chemical reaction that converts carbon dioxide (CO2) and hydrogen to methane (synthetic methane), which is carbon neutral when converted from CO2 and green hydrogen that is produced from electrolysis powered by renewable electricity. Synthetic methane can be distributed through existing gas infrastructure, combusted in existing gas appliances, and used to meet the market demand for high-temperature heat that cannot be generated by electricity.
The joint study will explore business models and conduct economic evaluation over an approximately 6 months period to produce synthetic methane from low carbon hydrogen and CO2 sourced from either overseas or in Singapore.
This study is in line with the Daigas Group Carbon Neutral Vision (CNV) announced in January 2021. Aiming to become carbon neutral by 2050 under CNV, Osaka Gas has also been developing other methanation projects such as the methanation technical development with INPEX in Nagaoka city, Niigata prefecture1, the innovative methanation (SOEC methanation) basic research to synthesize methane with a high energy conversion efficiency using renewable energy2 and the joint study with ATCO Australia Pty Ltd on methanation project in Australia3.
1Announed on October 15, 2021 in a press release “Osaka Gas to Commence Technical Development Business on CO2 Emissions Reduction and Practical Application of Effective CO2 Use Through One of World’s Largest Methanation Operations: Toward the Practical Application of Technology Enabling Carbon Neutralization of City Gas” (in Japanese)
https://www.osakagas.co.jp/company/press/pr2021/1300478_46443.html
2Announed on January 25, 2021 in a press release “New SOEC Prototype Developed by Osaka Gas, Key Technology to Innovative Methanation for Carbon Neutralization of Gas: Applicable to Highly Efficient Production of Hydrogen and Liquid Fuels” (in Japanese)
https://www.osakagas.co.jp/company/press/pr2021/1291456_46443.html
3Announed on December 23, 2021 in a press release “Osaka Gas Australia to Undertake Joint Methanation Study with ATCO Australia”.
https://www.osakagas.co.jp/en/whatsnew/__icsFiles/afieldfile/2021/12/23/211223_1.pdf
1. Joint Study Overview
Period |
Approximately 6 months (plan) |
Subject |
1. Suitable locations and technologies for a methanation pilot plant 2. Transportation of CO2 and hydrogen |
2. Company Overview
Name |
Osaka Gas Singapore Pte. Ltd. (OGS) |
Location |
182 Cecil Street #30-02 Frasers Tower Singapore 069547 |
Representative |
Hirabayashi Motoyuki |
Establishment |
2013 |
Main business |
Providing Energy Solutions in Southeast Asia |
Name |
City Energy Pte. Ltd. (as Trustee of City Energy Trust) |
Location |
1 Harbourfront Avenue, #18-01, Keppel Bay Tower, Singapore 098632 |
Representative |
Perry Ong |
Establishment |
1861 |
Main business |
Manufacturing and retailing town gas in Singapore |
Name |
City-OG Gas Energy Services Pte. Ltd. (City-OG) |
Location |
26 Senoko Avenue, Singapore 758312 |
Representative |
Tan Jun Jie |
Establishment |
2013 |
Main business |
Retailing natural gas to industrial customers in Singapore |
HARUKA KOKONNO
OSAKA GAS CO., LTD.
CORPORATE COMMUNICATION DEPT.
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
MILPITAS, Calif.--(BUSINESS WIRE)--SolarEdge Technologies, Inc. (Nasdaq: SEDG) (“SolarEdge”) today announced that it plans to conduct a registered public offering (the “Offering”), subject to market conditions and other factors, of 2,000,000 shares of its common stock (the “Common Stock”).
SolarEdge intends to grant the underwriters a 30-day option from the date of the prospectus supplement to purchase up to an additional 300,000 shares of its Common Stock upon the same terms as set forth underwriting agreement. SolarEdge intends to use the net proceeds from the Offering for general corporate purposes, which may include acquisitions. However, SolarEdge does not have agreements or commitments for any acquisitions at this time.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the Offering and as the representatives of the underwriters. The Offering is being made pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement related to the Offering of the Common Stock will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the Common Stock may be obtained from: Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Telephone: (866) 471-2526, Attention: Registration Department; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or via telephone: 1-866-803-9204; or Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or sale of, the Common Stock in any state or jurisdiction in which the offer, solicitation, or sale would be unlawful.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified as such because the statements include information, among other things, concerning: the timing and amount of the Offering, whether the Offering will be completed and the use of proceeds therefrom, our possible or assumed future results of operations; future demands for solar energy solutions; business strategies; technology developments; financing and investment plans; dividend policy; competitive position; industry and regulatory environment; general economic conditions; potential growth opportunities; and the effects of competition. These forward-looking statements are often characterized by the use of words such as “may,” “believe,” “expect,” “anticipate,” “plan,” “project,” “will,” “projections,” “estimate,” or other words of similar import. Similarly, statements that describe future financial performance or plans or strategies are forward-looking statements.
Forward-looking statements are only predictions based on SolarEdge’s current expectations and SolarEdge’s projections about future events. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause SolarEdge’s actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Given these factors, you should not place undue reliance on these forward-looking statements. These factors include, but are not limited to, the matters discussed in the section entitled “Risk Factors” of SolarEdge’s Annual Report on Form 10-K for the year ended December 31, 2021, filed on February 22, 2022, Current Reports on Form 8-K and other reports filed with the SEC. All forward-looking statements included in this release are given only as at the date hereof and SolarEdge assumes no obligation, and disclaims any duty, to update the forward-looking statements in this release.
You should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. SolarEdge cannot guarantee future results, levels of activity, performance or achievements. SolarEdge is under no duty to update any of these forward-looking statements after the date of this release or to conform these statements to actual results or revised expectations.
Investor Contacts
SolarEdge Technologies, Inc.
Ronen Faier, Chief Financial Officer
+1 510-498-3263
This email address is being protected from spambots. You need JavaScript enabled to view it.
or
Sapphire Investor Relations, LLC
Erica Mannion or Michael Funari
+1 617-542-6180
This email address is being protected from spambots. You need JavaScript enabled to view it.
TurnOnGreen Overcomes Supply Chain Bottlenecks to Resume Expansion of EV Charging Network and E-Commerce Operations
LAS VEGAS--(BUSINESS WIRE)--$AGH #AmosKohn--BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (the “Company”), announced today that its green energy technology and power electronics subsidiary, TurnOnGreen, Inc. (“TurnOnGreen”), has resumed work on the installation of its Level 3 electric vehicle (“EV”) chargers at the first of three Tim Hortons quick service restaurant locations in Canada. COVID-19 pandemic-related supply chain issues and restricted access to Canada delayed the pilot program. Since resuming in February 2022, significant milestones have been reached.
In December 2020, TurnOnGreen entered into an agreement with select franchisees to install Level 3 EV chargers at select Tim Hortons locations as part of a revenue-sharing program. Since the resumption of work, TurnOnGreen, with its Canadian partner, has completed site planning, permitting and provisioning the required power infrastructure to support the installation of two FSP1200, 120 kW DC Fast Chargers at the first pilot location. Installation is expected to be completed during the second quarter of 2022.
Furthermore, obtaining the safety certificate for EV700 Level 2 residential charger and easing supply chain restrictions has increased inventory, allowing TurnOnGreen’s distribution partner iNetSupply to expand its EV700 charger sales to NewEgg.com. The EV700 is now sold at four major online retailers, including Amazon.com, NewEgg.com, and iNetSupply.com. TurnOnGreen’s flagship product continues to gain consumer interest following the 4.4 star rating from industry specialist Tom Moloughney on his popular technology show State of Charge.
“Despite many obstacles in 2020 and 2021, TurnOnGreen has remained committed to product development and revenue growth,” said Marcus Charuvastra, Chief Revenue Officer for TurnOnGreen. “We expect to continue to build value through superior product offerings and our firm commitment to our commercial and direct-to-consumer distribution partners in Canada and the United States, respectively.”
“We are pleased to reach a major milestone in commercializing our flagship, feature-reach EV700 Level 2 charger. We are also excited to have made significant progress with our DC Fast Charging project in Canada,” said TurnOnGreen Chief Executive Officer, Amos Kohn. “We expect to continue to expand operations in the Canadian market through strategic partnerships such as our partnership with Okanogan TH Holdings Ltd. related to the Tim Hortons’ agreement.”
For more information on TurnOnGreen’s product line, please visit www.TurnOnGreen.com.
For more information on BitNile Holdings and its subsidiaries, BitNile recommends that stockholders, investors, and any other interested parties read BitNile’s public filings and press releases available under the Investor Relations section at www.BitNile.com or available at www.sec.gov.
About BitNile Holdings, Inc.
BitNile Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, BitNile owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, BitNile extends credit to select entrepreneurial businesses through a licensed lending subsidiary. BitNile’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.
About TurnOnGreen, Inc.
TurnOnGreen Inc. designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include defense and aerospace, medical and healthcare, industrial, telecommunications and e-Mobility. TurnOnGreen brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen’s headquarters are located at Milpitas, CA; www.turnongreen.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.BitNile.com.
This email address is being protected from spambots. You need JavaScript enabled to view it. or 1-888-753-2235
MONTREAL--(BUSINESS WIRE)--Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of sustainable gas technologies, announces that in recognition of the accelerated progress made to date in transitioning Jim Vounassis into the role of President and CEO of Xebec, it has been determined to advance the formal date of such transition from May 12, 2022, such that it will take effect immediately. Mr. Vounassis has also been appointed to the Board of Directors, effective immediately.
“We are delighted to welcome Jim officially in his role as President and CEO of Xebec, and on behalf of the Board wish him success in taking Xebec through the next phase of its evolution,” commented William Beckett, Lead Independent Director of Xebec Adsorption Inc.
The current CEO and President Kurt Sorschak is retiring as a member of Xebec’s executive management team but will, however, remain as the Chairman of the Board until May 11, 2022, at which point he will retire from the Board and the next generation of leadership will build upon the solid foundation that he has created. Once again, Xebec thanks Mr. Sorschak for his 18 years of dedication and service to the company.
Related links:
About Xebec Adsorption Inc.
Xebec is a global provider of sustainable gas solutions used in energy, mobility and industrial applications. The company specializes in deploying a portfolio of proprietary technologies for the distributed production of hydrogen, renewable natural gas, oxygen and nitrogen. By focusing on environmentally responsible gas generation, Xebec has helped thousands of customers around the world reduce their carbon footprints and operating costs. Headquartered in Québec, Canada, Xebec has a worldwide presence with eight manufacturing facilities, seventeen Cleantech Service Centers and four sales offices spanning over four continents. Xebec trades on the Toronto Stock Exchange under the symbol (TSX: XBC). For more information, xebecinc.com.
Cautionary Statement
This press release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, and subject to risks and uncertainties. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar expressions. Forward-looking statements also include, but are not limited to, the statements regarding Xebec’s future appointment of a permanent CEO, the formal appointment of a new COO and the general timing related thereto. Forward-looking statements are subject to business and economic factors and uncertainties, and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risks factors set out in Xebec’s public documents, including in the most recent annual management discussion and analysis and annual information form, filed on SEDAR at www.sedar.com. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Although Xebec believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Xebec disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 450.979.8700 ext 5762
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.