First Hydrogen truck to debut at ACT EXPO, May 9 in Long Beach

RADNOR, Pa.--(BUSINESS WIRE)--Airgas, an Air Liquide company, has signed an agreement with Hyzon Motors, a global supplier of zero-emissions hydrogen fuel cell powered commercial vehicles, to pilot two heavy duty hydrogen fuel cell trucks, including one 100 kW fuel cell truck and the first Hyzon 200 kW hydrogen fuel cell powered truck to be tested commercially.

These two trucks will be the first heavy duty hydrogen fuel cell powered trucks within the Air Liquide Group globally and are slated to be tested in various cylinder delivery routes in the Los Angeles, California area.

The Hyzon 100 kW fuel cell truck that Airgas will pilot will be on display at the Advanced Clean Transportation (ACT) Expo at the Long Beach Convention Center in Long Beach, California between May 9 and May 12, 2022.

Hyzon’s 200 kW hydrogen fuel cell powered truck, the most powerful fuel cell Hyzon has deployed, will begin testing at Airgas in the fall of 2022.

Through Hyzon’s Repower program, these vehicles are upcycled from existing diesel trucks, with Hyzon’s proprietary fuel cell system, electric drivetrain, and lightweight hydrogen storage design. Hyzon vehicles offer similar payloads, performance, and refueling time to diesel - and water vapor is the only byproduct. By providing end-to-end solutions, Hyzon helps operators transition their fleets without having to modify daily operations.

Brian Jones, Airgas Director, Risk Management & Corporate Responsibility, commented: “We are proud to be one of the first to pilot heavy duty hydrogen fuel cell trucks as we look to continuously lower carbon emissions and increase our use of clean fuel alternative vehicles in our fleet on the Air Liquide path to carbon neutrality by 2050.”

Cory Shumaker, Hyzon Motors USA Head of Business Development ‑ Americas, commented: “Hyzon is leading the transition to zero emissions by providing hydrogen-powered commercial vehicles with leading fuel cell technology. Hyzon vehicles are built to suit demanding applications, including ultra-heavy freight, construction, refuse collection, perishable deliveries, and public transit. It’s all done without challenging the already strained electricity grids – in the United States and around the world.”

Airgas, Inc.

Airgas®, an Air Liquide company, is a leading U.S. supplier of industrial, medical and specialty gases, as well as hardgoods and related products; one of the largest U.S. suppliers of safety products; and a leading U.S. supplier of ammonia products and process chemicals.

Dedicated to improving the performance of its more than 1 million customers, Airgas safely and reliably provides products, services and expertise through its more than 18,000 associates, over 1,400 locations, robust e-Business platform, and Airgas Total Access® telesales channel.

As an Air Liquide company, a world leader in gases, technology and services for Industry and Health, Airgas offers customers an unrivaled global footprint and industry-leading technology and innovations.

For more information, please visit www.airgas.com.

Hyzon Motors

Hyzon is a global leader in fuel cell electric mobility, with US operations in the Rochester, Chicago and Detroit areas, and international operations in the Netherlands, China, Singapore, Australia, and Germany. Hyzon is an energy transition accelerator and technology innovator, providing end-to-end solutions primarily for the commercial mobility sector with a focus on the commercial vehicle market and hydrogen supply infrastructure. Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon aims to supply zero-emission heavy duty trucks and buses to customers in North America, Europe and around the world to mitigate emissions from diesel transportation, which is one of the single largest sources of carbon emissions globally. The Company is contributing to the escalating adoption of fuel cell electric vehicles through its demonstrated technology advantage, leading fuel cell performance and history of rapid innovation. Visit www.hyzonmotors.com

A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.

Taking action today while preparing the future is at the heart of Air Liquide’s strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition—particularly with hydrogen—and takes action to progress in areas of healthcare, digital and high technologies.

Air Liquide’s revenue amounted to more than 23 billion euros in 2021. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50 and FTSE4Good indexes.

Airgas Communications
Kim Menard
267-432-7146
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LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that it has launched a Nature-Based Solutions carbon credit futures contract (“NBS future”).

The NBS future, which trades under the contract code NBT, physically delivers Verified Carbon Unit (VCU) credits certified under Verra’s Verified Carbon Standard (VCS) Agriculture, Forestry and Other Land Use (AFOLU) Projects with Climate, Community and Biodiversity (CCB) Certification, with vintages between January 1, 2016, to December 31, 2020.

Each NBS futures contract is equal to 1,000 carbon credits, where each credit is equal to the removal or reduction of one metric ton of greenhouse gas emissions achieved by projects that preserve and maintain natural ecosystems. ICE has listed NBS futures expiries in December 2022, December 2023, and December 2024.

Participants supporting the contract include Chevron Products Company, a division of Chevron U.S.A. Inc., EDF Trading, Elbow River Marketing Ltd. a fully owned Parkland Fuel subsidiary, the Macquarie Group, Shell, Trafigura, Vertree Partners and Vitol.

“The launch of ICE’s Nature-Based Carbon Futures contract is a significant foundational development in the architecture of global carbon markets, helping to deliver transparency and liquidity for quality nature-based solutions,” said Hannah Hauman, Global Head of Carbon Trading for Trafigura. “The new contract in particular delivers a direct link to Paris-aligned compliance periods, preparing for the next stage of market development as countries operationalize Article 6.”

“Carbon credits have a complementary role to play in the energy transition, but quality assurance is key,” said Michael Curran, Head of Carbon and Environmental Products at Vitol. “We very much welcome the launch of ICE’s NBS futures contract which will facilitate investment in verified carbon mitigating projects and should raise standards and price transparency across the carbon credit-industry.”

“The launch of the ICE Nature-Based Solutions Carbon Credit Future is another important milestone in bringing more transparency and scale to the voluntary carbon market,” said Bill McGrath, Shell’s General Manager for Global Environmental Products. “Carbon credits have an important role in the journey to net zero and innovative market-based mechanisms like this will encourage the flow of capital for the development of nature-based projects.”

“We are excited and supportive of the increasing adoption of the voluntary carbon credit market across the globe. ICE delivers a thoughtful approach to an exchange product that will provide liquidity for this emerging market,” said Elbow River Marketing Ltd., a fully owned Parkland Fuel subsidiary.

“The NBS future is our first contract specifically designed to measure the carbon sequestration and storage capabilities of nature, which we hope will be an important valuation tool to conserve and grow the world’s natural capital base,” said Gordon Bennett, Managing Director of Utility Markets at ICE. “ICE’s environmental markets are instrumental in providing price signals for negative and positive externalities, incentivizing the efficient allocation of capital across the carbon cycle to balance the world’s carbon budget and meet the goals of net zero, providing the mitigation pathway to manage climate risk.”

ICE has operated environmental markets for almost two decades. During this time, over 100 billion tons of carbon allowances, over 250 million renewable energy certificates, three billion carbon credits, and the equivalent of over 1.4 billion Renewable Identification Numbers have traded on ICE, reflecting ICE’s role as the world’s leading environmental marketplace. In 2021, ICE traded the equivalent of an estimated $1 trillion in notional value of carbon allowances, equal to over half the world’s estimated total annual energy-related emissions footprint.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on February 3, 2022.

ICE- CORP

Source: Intercontinental Exchange

ICE Media Contact:
Rebecca Mitchell
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+44 7951 057 351

ICE Investor Contact:
Mary Caroline O’Neal
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(770) 738-2151

HOUSTON--(BUSINESS WIRE)--Aris Water Solutions, Inc. (NYSE: ARIS) (“Aris,” “Aris Water,” or the “Company”) announced today a long-term full cycle water management agreement with Chevron U.S.A. Inc. (“Chevron”) in the Permian Basin. Under the arrangement, Aris will provide produced water handling and recycling services in a portion of Chevron’s core position in the Delaware Basin, including acreage in Eddy and Lea Counties, New Mexico and Culberson and Reeves Counties, Texas. The agreement will facilitate Chevron’s increased use of recycled water in their operations and reduce their use of groundwater, improving their water sustainability footprint.

“We are excited Chevron has chosen to expand their existing relationship with us in such a meaningful manner. We have worked with Chevron for a number of years and have repeatedly proven our ability to deliver secure takeaway and re-use solutions. This is a significant contract for Aris and we are very proud of our entire team that helped achieve this milestone. We continue to make great progress expanding our system, capabilities, and customer base. This agreement increases Aris’s overall acreage giving Aris the premier dedicated acreage position in the Northern Delaware Basin,” said Amanda Brock, President and CEO of Aris Water Solutions.

Aris has repeatedly demonstrated its commitment to delivering sustainable and comprehensive water solutions to its customers in the Permian Basin. The Company continues to rapidly expand its recycling system and enter into new contracts with customers who are increasing their use of recycled water. Aris is also closely collaborating with a number of its customers to identify and pilot additional opportunities for the beneficial reuse of recycled water.

Forward Looking Statements

Certain matters contained in this press release include “forward-looking statements.” All statements, other than statements of historical fact, included in this press release may constitute forward-looking statements. Although we believe that the expectations and assumptions reflected in these forward-looking statements are reasonable, we cannot assure you that these forward-looking statements will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, the risk factors discussed from time to time in each of our documents and reports filed with the Securities and Exchange Commission.

Readers are cautioned not to place undue reliance on any forward-looking statements contained in this press release, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.

About Aris Water Solutions, Inc.

Aris Water Solutions, Inc. (NYSE: ARIS) is a leading, growth-oriented environmental infrastructure and solutions company that directly helps its customers reduce their water and carbon footprints. Aris Water delivers full-cycle water handling and recycling solutions that increase the sustainability of energy company operations. Its integrated pipelines and related infrastructure create long-term value by delivering high-capacity, comprehensive produced water management, recycling and supply solutions to operators in the core areas of the Permian Basin. Additional information is available on our website, www.ariswater.com.

David Tuerff
Senior Vice President, Finance and Investor Relations
(281) 501-3070
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Earnings Release Highlights

• Exelon completed the separation of Constellation Energy Corporation (Constellation), Exelon’s former power generation and competitive energy business, becoming the nation’s premier transmission and distribution utility company
• GAAP Net Income from Continuing Operations of $0.49 per share and Adjusted (non-GAAP) Operating Earnings of $0.64 per share for the first quarter of 2022; Constellation’s results have been reclassified to discontinued operations
• Reaffirming range for full year 2022 Adjusted (non-GAAP) Operating Earnings guidance of $2.18-$2.32 per share
• Continued strong utility operational performance, including ComEd delivering the most reliable service for customers in the first three months of the year for any year on record
• A settlement was approved by the Maryland Public Service Commission (MDPSC) in Delmarva Power Maryland’s electric distribution rate case in March
• PECO filed a gas distribution rate case with the Pennsylvania Public Utility Commission (PAPUC) in March, seeking an increase in base rates to support significant investments in infrastructure to provide safe and reliable natural gas service and reduce methane emissions
• ComEd filed its last annual distribution formula rate update with the Illinois Commerce Commission (ICC) in April seeking an increase in base rates for 2023 to support investments needed to sustain record-level reliability performance and increase the integration of renewable energy into the system

CHICAGO--(BUSINESS WIRE)--Exelon Corporation (Nasdaq: EXC) today reported its financial results for the first quarter of 2022.

“The first quarter was a milestone for Exelon as we successfully completed our separation of the generation business and embarked on our path as the nation’s premier transmission and distribution utility company,” said Exelon’s President and CEO Chris Crane. “At the same time, our focus on the fundamentals of operational and financial execution continued. Beyond delivering reliable and safe energy to our over 10 million customers, we also continued to live our core values. We awarded $2.4 million in scholarships to 24 students attending Historically Black Colleges and Universities, and opened applications for our $36 million Racial Equity Capital Fund to increase access to funding for small, minority-owned businesses in under-served communities.”

“Adjusted (non-GAAP) Operating Earnings of $0.64 per share in the first quarter was driven in part by the recovery of costs associated with ongoing infrastructure investments to improve reliability and resiliency, enhance service for our customers and prepare the grid for a clean energy future,” said Exelon CFO Joe Nigro. “Our grid modernization investments, enabled by constructive regulatory relationships, continue to drive solid operational results and stable earnings across our utilities. For the remainder of the year, we will continue to deliver on our financial commitments and reaffirm our full-year Adjusted (non-GAAP) Operating Earnings guidance range of $2.18 to $2.32 per share.”

First Quarter 2022

Exelon's GAAP Net Income from Continuing Operations for the first quarter of 2022 decreased to $0.49 per share from $0.53 GAAP Net Income from Continuing Operations per share in the first quarter of 2021. Adjusted (non-GAAP) Operating Earnings for the first quarter of 2022 increased to $0.64 per share from $0.55 per share in the first quarter of 2021. For the reconciliations of GAAP Net Income from Continuing Operations to Adjusted (non-GAAP) Operating Earnings, refer to the tables beginning on page 4.

Adjusted (non-GAAP) Operating Earnings in the first quarter of 2022 primarily reflect:

• Higher utility earnings primarily due to higher electric distribution earnings at ComEd from higher rate base and higher allowed electric distribution ROE due to an increase in treasury rates and rate increases at PECO, BGE, and PHI, partially offset by higher depreciation expense at BGE and PHI.
• Higher earnings at the Exelon holding company due to certain BSC costs that were historically allocated to Constellation Energy Generation, LLC (Generation) but are presented as part of continuing operations in Exelon’s results as these costs do not qualify as expenses of the discontinued operations per the accounting rules; one month of costs included in the first quarter of 2022 for the period prior to separation compared to three months of costs included in the first quarter of 2021.

Operating Company Results¹

ComEd

ComEd's first quarter of 2022 GAAP Net Income decreased to $188 million from $197 million in the first quarter of 2021. ComEd's Adjusted (non-GAAP) Operating Earnings for the first quarter of 2022 decreased to $193 million from $198 million in the first quarter of 2021, primarily due to the voluntary customer refund related to the ICC investigation of matters identified in the Deferred Prosecution Agreement, partially offset by increases in electric distribution formula rate earnings (reflecting the impacts of higher rate base and higher allowed electric distribution ROE due to an increase in treasury rates). Due to revenue decoupling, ComEd's distribution earnings are not affected by actual weather or customer usage patterns.

PECO

PECO’s first quarter of 2022 GAAP Net Income increased to $206 million from $167 million in the first quarter of 2021. PECO's Adjusted (non-GAAP) Operating Earnings for the first quarter of 2022 increased to $208 million from $170 million in the first quarter of 2021, primarily due to distribution rate increases.

BGE

BGE’s first quarter of 2022 GAAP Net Income decreased to $198 million from $209 million in the first quarter of 2021. BGE's Adjusted (non-GAAP) Operating Earnings for the first quarter of 2022 decreased to $200 million from $211 million in the first quarter of 2021, primarily due an increase in depreciation and various expenses, partially offset by favorable impacts of the multi-year plans. Due to revenue decoupling, BGE's distribution earnings are not affected by actual weather or customer usage patterns.

PHI

PHI’s first quarter of 2022 GAAP Net Income increased to $130 million from $128 million in the first quarter of 2021. PHI’s Adjusted (non-GAAP) Operating Earnings for the first quarter of 2022 increased to $136 million from $130 million in the first quarter of 2021, primarily due to distribution and transmission rate increases, partially offset by an increase in storm costs and depreciation expense. Due to revenue decoupling, PHI's distribution earnings related to Pepco Maryland, DPL Maryland, Pepco District of Columbia, and ACE are not affected by actual weather or customer usage patterns.

Recent Developments and First Quarter Highlights

• ComEd Distribution Formula Rate: On April 15, 2022, ComEd filed its annual distribution formula rate update with the ICC. The ICC approval is due by December 2022 and the rates will take effect in January 2023. The filing request includes an increase of $144 million for the initial year revenue requirement for 2023 and an increase of $55 million related to the annual reconciliation for 2021. The revenue requirement for 2023 provides for a weighted average debt and equity return on distribution rate base of 5.94%, inclusive of an allowed ROE of 7.85%, reflecting the average monthly yields for 30-year treasury bonds plus 580 basis points. The reconciliation revenue requirement for 2021 provides for a weighted average debt and equity return on distribution rate base of 5.91%, inclusive of an allowed ROE of 7.78%, reflecting the average monthly yields for 30-year treasury bonds plus 580 basis points less a performance metrics penalty of 7 basis points. This is ComEd's last performance-based electric distribution formula rate update filing, which sunsets at the end of 2022.
• PECO Pennsylvania Natural Gas Distribution Rate Case: On March 31, 2022, PECO filed an application with the PAPUC to increase its annual natural gas rates by $82 million, reflecting an ROE of 10.95%. PECO currently expects a decision in the fourth quarter of 2022 but cannot predict if the PAPUC will approve the application as filed.
• DPL Maryland Electric Base Rate Case: On March 2, 2022, the MDPSC issued an order approving a $13 million increase in DPL's annual electric distribution revenues, reflecting an ROE of 9.60%. The rates were effective on March 2, 2022.
• Financing Activities:
  • On March 7, 2022, Exelon Corporate issued $2,000 million of notes, consisting of $650 million of its 2.75% notes due March 15, 2027, $650 million of its 3.35% notes due March 15, 2032, and $700 million of its 4.10% notes due March 15, 2052. Exelon used the proceeds to repay existing indebtedness and for general corporate purposes.
  • On March 15, 2022, ComEd issued $750 million of First Mortgage Bonds, consisting of $300 million of its First Mortgage 3.15% Bonds, Series 132, due March 15, 2032 and $450 million of its First Mortgage 3.85% Bonds, Series 133, due March 15, 2052. ComEd used the proceeds to repay a portion of outstanding commercial paper obligations and to fund other general corporate purposes.
  • On March 24, 2022, Pepco issued $400 million of its First Mortgage Bonds, 3.97% Series due March 24, 2052. Pepco used the proceeds to repay existing indebtedness and for general corporate purposes.

GAAP/Adjusted (non-GAAP) Operating Earnings Reconciliation

Adjusted (non-GAAP) Operating Earnings for the first quarter of 2022 do not include the following items (after tax) that were included in reported GAAP Net Income from Continuing Operations:

Adjusted (non-GAAP) Operating Earnings for the first quarter of 2021 do not include the following items (after tax) that were included in reported GAAP Net Income from Continuing Operations:

Note:
Amounts may not sum due to rounding.
Unless otherwise noted, the income tax impact of each reconciling item between GAAP Net Income (Loss) from Continuing Operations and Adjusted (non-GAAP) Operating Earnings is based on the marginal statutory federal and state income tax rates for each Registrant, taking into account whether the income or expense item is taxable or deductible, respectively, in whole or in part. For all items, the marginal statutory income tax rates for 2022 and 2021 ranged from 24.0% to 29.0%.

Webcast Information

Exelon will discuss first quarter 2022 earnings in a conference call scheduled for today at 9 a.m. Central Time (10 a.m. Eastern Time). The webcast and associated materials can be accessed at www.exeloncorp.com/investor-relations.

About Exelon

Exelon is a Fortune 200 company and the nation’s largest utility company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon.

Non-GAAP Financial Measures

In addition to net income as determined under generally accepted accounting principles in the United States (GAAP), Exelon evaluates its operating performance using the measure of Adjusted (non-GAAP) Operating Earnings because management believes it represents earnings directly related to the ongoing operations of the business. Adjusted (non-GAAP) Operating Earnings exclude certain costs, expenses, gains and losses, and other specified items. This measure is intended to enhance an investor’s overall understanding of period over period operating results and provide an indication of Exelon’s baseline operating performance excluding items that are considered by management to be not directly related to the ongoing operations of the business. In addition, this measure is among the primary indicators management uses as a basis for evaluating performance, allocating resources, setting incentive compensation targets, and planning and forecasting of future periods. Adjusted (non-GAAP) Operating Earnings is not a presentation defined under GAAP and may not be comparable to other companies’ presentation. Exelon has provided the non-GAAP financial measure as supplemental information and in addition to the financial measures that are calculated and presented in accordance with GAAP. Adjusted (non-GAAP) Operating Earnings should not be deemed more useful than, a substitute for, or an alternative to the most comparable GAAP Net Income measures provided in this earnings release and attachments. This press release and earnings release attachments provide reconciliations of Adjusted (non-GAAP) Operating Earnings to the most directly comparable financial measures calculated and presented in accordance with GAAP, are posted on Exelon’s website: www.exeloncorp.com, and have been furnished to the Securities and Exchange Commission on Form 8-K on May 9, 2022.

Cautionary Statements Regarding Forward-Looking Information

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “predicts,” and variations on such words, and similar expressions that reflect our current views with respect to future events and operational, economic, and financial performance, are intended to identify such forward-looking statements.

The factors that could cause actual results to differ materially from the forward-looking statements made by Exelon Corporation, Commonwealth Edison Company, PECO Energy Company, Baltimore Gas and Electric Company, Pepco Holdings LLC, Potomac Electric Power Company, Delmarva Power & Light Company, and Atlantic City Electric Company (Registrants) include those factors discussed herein, as well as the items discussed in (1) the Registrants' 2021 Annual Report on Form 10-K in (a) Part I, ITEM 1A. Risk Factors, (b) Part II, ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and (c) Part II, ITEM 8. Financial Statements and Supplementary Data: Note 19, Commitments and Contingencies; (2) the Registrants' First Quarter 2022 Quarterly Report on Form 10-Q (to be filed on May 9, 2022) in (a) Part II, ITEM 1A. Risk Factors, (b) Part I, ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and (c) Part I, ITEM 1. Financial Statements: Note 12, Commitments and Contingencies; and (3) other factors discussed in filings with the SEC by the Registrants.

Investors are cautioned not to place undue reliance on these forward-looking statements, whether written or oral, which apply only as of the date of this press release. None of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this press release.

Elizabeth Keating
Corporate Communications
312-394-7417

Andrew Plenge
Investor Relations
312-394-2345

AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, today reported its first-quarter 2022 financial results.

Key Business Highlights

• Order backlog increases to 170 Hypertruck ERX™ production slots backed by deposits, plus nearly 2,000 units in reservations to date
• Hypertruck ERX expected to qualify for full credit within the Advanced Clean Fleet legislation, CARB’s new mandate for fleets
• On track with Hypertruck ERX development timeline as the initial design verification units are complete; start of production expected late 2023
• Generated $0.3 million in revenue from Hybrid sales, 70% increase from prior quarter
• Closes quarter with $527 million on balance sheet
• Reiterates full-year 2022 revenue expectations of between $2.0 million and $3.0 million; full-year operating expenses between $135 million to $145 million

Executive Commentary

“The trucking industry is increasingly recognizing Hyliion’s potential to revolutionize the market for Class 8 semi-trucks,” said Thomas Healy, Hyliion’s Founder and Chief Executive Officer. “To date, we have received orders for 170 Hypertruck ERX production slots backed by deposits. At the same time, we reached critical development milestones on schedule for the Hypertruck ERX.

“The recent expansion of our sales force has paid immediate dividends and we are progressing quickly with our commercialization plans to take advantage of the positive feedback we continue to receive from customers at our ongoing Ride and Drive events. 2022 should be a critical year for Hyliion’s product development as we advance our technology solutions to address the transportation sector’s environmental impact.”

Hypertruck ERX Orders and Reservations Update

In the first quarter, the Company secured orders for production slots backed by deposits from multiple fleets, bringing the total number of orders to 170 units for the Hypertruck ERX. These orders are expected to ship between late 2023 and the first quarter of 2024. The Company also has received reservations totaling nearly 2,000 units to date. These orders and reservations remain subject to the finalization of commercial terms.

The Company announced in the first quarter that GreenPath Logistics ordered 50 Hypertruck ERX units backed by deposits to secure production slots after their Ride and Drive experience at Hyliion HQ. The Dallas-based, full-service private fleet - which uses only vehicles powered by alternative fuels - will begin initial controlled fleet trials for the Hypertruck ERX in their operations later this year. GreenPath Logistics moves freight for notable customers such as Amazon, UPS, and the United States Postal Service.

Also, in the first quarter Mone Transport converted 20 of their 40 reservations to orders for production slots after their Ride and Drive experience. Based in Laredo, Texas, Mone is a door-to-door service provider and an early adopter of green technology, with Hyliion Hybrid solution already incorporated into its operations.

Hypertruck ERX Government Credits

In the first quarter, the California Air Resource Board (CARB) released draft language for their Advanced Clean Fleet (ACF) mandate. This initiative puts requirements on the fleets regarding credits that must be obtained by adopting clean vehicles. Under the current draft language of the ACF Rule, the Hypertruck ERX will qualify for a full credit for each vehicle the fleet adopts.

As previously noted, the Hypertruck ERX will also qualify for 75% of a ZEV credit under the Advanced Clean Truck (ACT) CARB mandate. This initiative puts requirements on the vehicle OEMs with regards to the ratio of clean vehicles they manufacture compared to diesel trucks. The Company will continue to work with state and federal government agencies through the legislative process to demonstrate the benefits of the Hypertruck ERX both for its customers and the environment.

Hypertruck ERX Development

In the first quarter, the Company completed the first of its design verification vehicle builds. Hyliion remains on schedule with its previously communicated timeline to complete design verification and initial controlled fleet trials for the Hypertruck ERX by the second half of this year. This will then be followed by final regulatory approvals that will keep the Company on track to start production by late 2023. Hyliion continues to work closely with its suppliers to secure delivery of components necessary to reach its development and commercial milestones.

The use case of the Hypertruck ERX is focused on bringing electrification to linehaul applications of up to 1,000 miles between refueling stops. Hyliion’s multi-phase development program includes design verification and product validation testing, including summer and winter seasons, and the accumulation of up to one million test miles prior to starting production.

Hybrid Update

In the first quarter, Hyliion continued to deliver, install, and recognize revenue on its Hybrid powertrain systems. Due to persistent global shortages of various components, the Company continues to experience longer delivery times, which has continued to impact delivery timing.

Financial Highlights and Operating Expense Guidance

In the first quarter, the Company recorded $0.3 million in revenue which represents a 70% increase from the prior quarter. The Company’s first-quarter operating expenses totaled $25.6 million, driven primarily by R&D. Hyliion ended the quarter with over $527 million of capital available on its balance sheet, which is sufficient to fund its current commercialization plans for the Hybrid and Hypertruck ERX powertrains. This includes $227 million in cash and cash equivalents, short-term investments of $134 million, and long-term investments of $166 million.

For the full-year 2022, Hyliion continues to expect revenue in the range of $2 million to $3 million from Hybrid sales, with operating expenses in the range of $135 million to $145 million, driven primarily by an increase in research and development costs to support commercialization of the Hypertruck ERX.

Upcoming Events

The Hyliion team is participating in the 2022 Advanced Clean Transportation Expo, May 10 – 12, in Long Beach, California. The Expo is the world’s largest advanced transportation technology and clean fleet event. Hyliion-powered trucks will be on display and available for ride-along demonstrations. The Company will also attend the World Economic Forum, May 22 – 26, in Davos, Switzerland.

First Quarter 2022 Conference Call

Hyliion will host a conference call and accompanying webcast at 11:00 a.m. EST / 10:00 a.m. CST on Tuesday, May 10, 2022, to discuss its financials, business results, and outlook. The live webcast of the call, as well as an archived replay following, will be available online on the Investor Relations section of Hyliion’s website. Those wishing to participate can access the call using the links below:

Conference Call Online Registration: https://conferencingportals.com/event/vjUOPPlo%20

Webcast: https://investors.hyliion.com/events-and-presentations/default.aspx

First-quarter 2022 financial results for Hyliion Holdings Corp. will also be filed with the SEC on Form 10-Q.

About Hyliion

Hyliion’s mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 semi-trucks by being a leading provider of electrified powertrain solutions. Hyliion offers fleets efficient and practical systems to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that can be installed on most major Class 8 semi-trucks, and leverages advanced software algorithms and data analytics to improve overall efficiencies. Hyliion’s goal is to transform the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.

Forward Looking Statements

The information in this press release includes “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. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, our status as an early stage company with a history of losses, and our expectation of incurring significant expenses and continuing losses for the foreseeable future; our ability to develop to develop key commercial relationships with suppliers and customers; our ability to retain the services of Thomas Healy, our Chief Executive Officer; our ability to disrupt the powertrain market; the effects of our dynamic and proprietary solutions on commercial truck customers; the ability to accelerate the commercialization of the Hypertruck ERX; our ability to meet 2022 and future product milestones; the impact of COVID-19 on long-term objectives; the ability of our solutions to reduce carbon intensity and greenhouse gas emissions, and the other risks and uncertainties described under the heading “Risk Factors” in our other SEC filings including in our Annual Report (See item 1A. Risk Factors) on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 24, 2022 for the year ended December 31, 2021. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.

Hyliion Holdings Corp.
Ryann Malone
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(833) 495-4466

Sharon Merrill Associates, Inc.
Nicholas Manganaro
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(617) 542-5300

Representing Northland’s Second Sustainability-Linked Financing and EDC’s Inaugural Sustainability-Linked Transaction

TORONTO--(BUSINESS WIRE)--BNP Paribas, a leading global bank, announced today that it has recently closed an amendment to add sustainability-linked incentives to its Letter of Credit (“LC”) Facility with renewable power producer, Northland Power Inc. (“Northland”).

Northland converted its $50 million bilateral LC Facility with BNP Paribas to a sustainability-linked agreement, which is backed by Canada’s export credit agency, Export Development Canada (“EDC”). This marks EDC’s first sustainability-linked LC facility, which will support Northland’s current and future renewable energy growth strategy, including offshore wind projects across the globe. EDC’s bonding solutions, offered in partnership with private sector financial institutions, help free up the working capital that companies need to operate.

This LC facility also represents Northland’s second sustainability-linked credit facility, after Northland renewed, extended and converted its CAD $1 billion revolving credit facility (“RCF”) to a sustainability-linked loan (“SLL”) structure in September 2021. The SLL structure aligns with Northland’s Green Financing Framework, unveiled in the first half of 2021. The five-year RCF features a pair of KPIs with targets linked to increasing Northland’s renewable energy generation and reducing carbon intensity. BNP Paribas acted as a co-sustainability structuring agent on the SLL.

"EDC is pleased to partner with BNP Paribas through our bonding program to support Northland Power as it scales up its renewable power generation capacity," said Guillermo Freire, Senior Vice President, Mid-Market, and responsible for EDC’s cleantech practice. "This sustainability-linked LC facility for Northland Power is a good example of how industry partners can work together to help Canadian companies grow internationally, support the global energy transition, and help build an innovative and sustainable future.”

Northland continues to progress its plan to double its renewable power generating capacity by the end of the decade. Northland’s plan includes developing and operating a portfolio of large- scale offshore wind projects in Europe and Asia, further adding to its offshore wind portfolio, where it is already the fourth largest owner and operator generating capacity globally.

“BNP Paribas is very proud to be a strategic partner to corporations actively participating in the fight against climate change. We are dedicated to working with our corporate clients to identify tailored solutions that align with their specific efforts and commitments toward achieving their ESG goals”, said Rod O’Hara, Head of Canada Corporate Coverage of BNP Paribas. “We couldn’t be happier to continue our partnership with Northland Power, as the company progresses on its sustainability journey, and to support EDC with its inaugural sustainable transaction.”

BNP Paribas acted as Sole Structuring Agent. Elsewhere in Canada, the Bank has played key roles in several noteworthy sustainability-linked transactions. By using innovative financing solutions, Canadian corporates have a unique opportunity to create the economy of the future.

About BNP Paribas in Canada
For over 60 years, BNP Paribas in Canada has been helping Canadian businesses and institutions grow by offering them a full range of specialized financial services and investment products. With over 1,250 employees in offices in Montreal and Toronto, BNP Paribas in Canada combines a clear understanding of the Canadian landscape with global expertise.

Learn more: https://www.bnpparibas.ca/en/

About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 190,000 employees, including nearly 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval ; Investment & Protection Services for savings, investment and protection solutions ; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, Eastern Europe as well as via a large network in the western part of the United States. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.

Learn more: https://group.bnpparibas/en/

About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business.

For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.

About Northland Power
Northland Power is a global power producer dedicated to helping the clean energy transition by producing electricity from clean renewable resources. Founded in 1987, Northland has a long history of developing, building, owning and operating clean and green power infrastructure assets and is a global leader in offshore wind. In addition, Northland owns and manages a diversified generation mix including onshore renewables, efficient natural gas energy, as well as supplying energy through a regulated utility.

Headquartered in Toronto, Canada, with global offices in eight countries, Northland owns or has an economic interest in 3.2 GW (net 2.8 GW) of operating capacity. The Company also has a significant inventory of projects in construction and in various stages of development encompassing over 14 GW of potential capacity.

Publicly traded since 1997, Northland's common shares, Series 1, Series 2 and Series 3 preferred shares trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B and NPI.PR.C, respectively.

Press
BNP Paribas
Claire Schiff
+1 (646) 634 4042
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EDC
Export Development Canada
1-888-222-4065
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HOUSTON--(BUSINESS WIRE)--WM (NYSE: WM) today announced the declaration of a quarterly cash dividend of $0.65 per share payable June 17, 2022 to stockholders of record on June 3, 2022.

ABOUT WM

WM (WM.com) is North America's largest comprehensive waste management environmental solutions provider. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renewable energy, WM provides environmental solutions to and collaborates with its customers in helping them achieve their sustainability goals. WM has the largest disposal network and collection fleet in North America, is the largest recycler of post-consumer materials and is the leader in beneficial reuse of landfill gas, with a growing network of renewable natural gas plants and the most gas-to-electricity plants in North America. WM's fleet includes nearly 11,000 natural gas trucks – the largest heavy-duty natural gas truck fleet of its kind in North America – where more than half are fueled by renewable natural gas. To learn more about WM and the company's sustainability progress and solutions, visit Sustainability.WM.com.

Waste Management

Website
investors.wm.com

Analysts
Ed Egl
713.265.1656
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Media
Toni Werner
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MELBOURNE, Fla.--(BUSINESS WIRE)--L3Harris Technologies (NYSE:LHX) today announced that Joanna L. Geraghty, President and Chief Operating Officer of JetBlue Airways Corporation, has been elected to its Board of Directors. Her addition expands the L3Harris Board to 14 members.

“Joanna is a proven leader who brings deep expertise and experience across business, operations, technology and talent domains, including from her current role leading operations for a major U.S. airline,” said William M. Brown, Executive Chair. “We are proud to have Joanna join our Board and look forward to the many contributions she will make to the company.”

Geraghty, 49, is responsible for JetBlue’s safety, operations and commercial performance, including leadership of the airline’s frontline workforce as well as the network, brand and marketing, and revenue management functions. Since joining JetBlue in 2005, she has played a key role in successfully expanding JetBlue’s differentiated brand and unique culture as it grew from a small northeast carrier into an international airline with more than 1,000 flights a day. Prior to her current role, Geraghty held various senior executive management positions at JetBlue, including Executive Vice President of Customer Experience, Executive Vice President and Chief People Officer, and Vice President and Associate General Counsel. Before joining JetBlue, Geraghty was a partner at Holland & Knight LLP.

Geraghty earned a bachelor’s degree in sociology from College of the Holy Cross and a juris doctor and master’s degree in international relations from Syracuse University.

“Joanna’s intimate knowledge of the aerospace industry and first-hand experience leading a global organization will be invaluable assets as we continue to grow our international market presence and address our customers’ critical missions,” said Christopher E. Kubasik, Vice Chair and Chief Executive Officer.

“In today’s fast-changing global business environment, L3Harris is well positioned to address the growing demand for innovative solutions that can be delivered rapidly,” Geraghty said. “I am excited to be a part of L3Harris’ Board of Directors and to contribute to the company’s long-term growth strategy.”

Biography

High resolution photograph

About L3Harris Technologies

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. L3Harris has more than $17 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. L3Harris.com.

Jim Burke
Media Relations
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321-727-9131

PASADENA, Calif.--(BUSINESS WIRE)--Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrated solar energy technology, today announced the rescheduling of the release of its first quarter 2022 financial results and conference call previously scheduled for Monday, May 9, 2022, and Tuesday, May 10, 2022, respectively. Heliogen will make a further announcement regarding the timing of the release and conference call as soon as practicable.

About Heliogen

Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in heavy industry and powering a sustainable future. The company’s AI-enabled, modular concentrated solar technology aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, or green hydrogen fuel at scale – for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996. For more information about Heliogen, please visit Heliogen.com.

Forward-Looking Statements

This press release contains certain 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. Statements that are not historical in nature, including the words “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions are intended to identify forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our financial and business performance, including risk of uncertainty in our financial projections and business metrics and any underlying assumptions thereunder; (ii) our ability to execute our business model, including market acceptance of our planned products and services and achieving sufficient production volumes at acceptable quality levels and prices; (iii) our ability to access sources of capital to finance operations, growth and future capital requirements; (iv) our ability to maintain and enhance our products and brand, and to attract and retain customers; (v) our ability to scale in a cost-effective manner; (vi) changes in applicable laws or regulations; (vii) developments and projections relating to our competitors and industry; (viii) the ongoing impacts of the COVID-19 pandemic and the potential impacts of Russia’s invasion of Ukraine on our business; (ix) our ability to protect our intellectual property and (x) our ability to find and retain critical employee talent and key personnel. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section in our Annual Report on Form 10-K filed for the annual period ended December 31, 2021 and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the 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 Heliogen assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Heliogen Media Contact:
Cory Ziskind
ICR, Inc.
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Heliogen Investor Contact
Louis Baltimore
VP, Investor Relations
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The JB Poindexter & Co business unit will showcase its next-generation VX Control system prototypes, demonstrating brand collaboration and commitment to innovation

LONG BEACH, Calif.--(BUSINESS WIRE)--EAVX, the newest business unit of JB Poindexter & Co (JBPCO) that collaborates with the most advanced electric and alternative power chassis producers, today announced its debut at the Advanced Clean Transportation (ACT) Expo. Attendees can visit booth No. 567 to see its latest technological innovations on display in collaboration with Morgan Truck Body (Morgan), a sister business unit, and Vicinity Motor Corp. (Vicinity), a North American supplier of commercial electric vehicles.

“The JBPCO team is thrilled to have our own dedicated space at the ACT Expo, illustrating our commitment to the transportation industry’s mission to reduce emissions and build a cleaner, more sustainable tomorrow,” said John Poindexter, CEO and Chairman at JBPCO. “By leveraging the resources of JBPCO and collaborating with industry leaders in electric- and alternative-power chassis and technology suppliers, the EAVX team looks forward to showcasing how it is transforming the world’s largest fleets for a more sustainable future.”

JBPCO’s presence will showcase a wide variety of its next-generation technology for the work truck industry. Three Morgan Truck Body bodies on electric chassis will be onsite, as well as firsthand illustrations of how EAVX’s innovative concepts can be implemented into their VX Control system, the technology infrastructure of each vehicle. Among technologies integrated into the multiplexed system, attendees can expect to experience 360-degree camera systems, digital rear view and side view mirrors, and vehicle warning technologies. In-booth collaboration examples include prototypes from Morgan vehicles on electric chassis upfitted with technology from Lion Electric, International and VMC.

“As the innovation hub of JBPCO, the EAVX team is on a mission to create the next generation of commercial vehicles by integrating body and chassis with leading-edge technology and innovation,” said Mark Hope, Chief Operating Officer and General Manager at EAVX. “Our comprehensive approach to integration, deployment and serviceability empowers the industry to meet higher standards for sustainability and performance. Ultimately, EAVX strives to be at the forefront of revolutionizing the road ahead.”

Collaboration with Vicinity Motor Corp.

Vicinity will showcase its vehicles in a joint exhibit with its strategic partner EAVX. The two companies will jointly exhibit its VMC 1200 Class 3 electric truck with a ProStake Platform Body by Morgan Truck Body. The unit will also be upfitted by EAVX with its latest VX Control multiplexed technology system, including a 360-degree camera system, digital rear view and side view mirrors, advanced driver assistance systems and load sensing technology.

Morgan Truck Body Innovations

Morgan Truck Body recently debuted two advanced electric vehicle truck body concepts at NTEA Work Truck Week – an electrified refrigerated concept truck body and a dry freight cargo van body – both of which will be on display in JBPCO’s ACT Expo booth. Mounted on a Lion Electric Lion6 chassis and equipped with a Thermo King all-electric refrigerated unit, Morgan’s refrigerated body is designed to maximize thermal efficiency while lightening the load. The 24-foot dry freight cargo van body features an electric chassis by International and provides significant weight reduction, improved aerodynamics and enhanced situational awareness.

“As Morgan Truck Body celebrates its 70th year, we are pushing forward with our goal to provide the most innovative EV solutions by working with partners like EAVX to integrate our next-generation bodies with their VX Control system technology infrastructure,” said Dan DesRochers, President and COO of Morgan. “Our customers seek energy-efficient solutions that offset the weight added by batteries, without losing cargo capacity and delivery range, and these bodies address these challenges head on.”

Additional JBPCO business units who will be displaying at the ACT Expo outside of the parent booth will be Morgan Olson and Reading. To keep up with the latest industry news, learn more about EAVX or how the company is innovating the work truck industry, visit jbpoindexter.com/eavx.

About EAVX

EAVX, the newest business unit and subsidiary of JB Poindexter & Co, collaborates with the most advanced electric and alternative power chassis producers, allowing chassis partners to focus on their revolutionary and proprietary technologies. EAVX and the individual business units of JBPCO are the integration bodybuilders of choice for chassis producers serving present and future EV and alternative fuel markets and advanced vehicle technology markets. Visit jbpoindexter.com/eavx or our LinkedIn page for more information.

About Morgan Truck Body

Those who depend on trucks to move their business choose Morgan Truck Body. As the company celebrates its 70th Anniversary, Morgan remains committed to its mission to design, build, sell, and support the most reliable truck bodies in the world, as the preferred global partner providing innovative middle-mile solutions connecting the world’s supply chain. Founded in 1952 and headquartered in Morgantown, PA, Morgan Truck Body is the largest manufacturer of light- and medium-duty truck bodies in North America. Morgan employs over 2,300 team members in 14 manufacturing locations and 8 service centers across the United States and Canada. Morgan Truck Body, LLC is a subsidiary of JB Poindexter & Co, an owner-operated business enterprise providing best-in-class automotive and manufacturing goods and services. www.MorganCorp.com

About JB Poindexter & Co

JB Poindexter & Co is a portfolio of businesses that provide best-in-class commercial automotive and manufacturing goods and services. The company applies innovative operational and financial disciplines to truck and van bodies, pickup truck covers and accessories, industrial vehicle storage and shelving, funeral coaches, limousines, specialty industrial parts and expandable foam packaging. The portfolio of industry-leading business units includes Morgan Truck Body, Morgan Olson, Reading, Truck Accessories Group, EFP Corporation, Specialty Vehicle Group, MIC Group, Masterack and EAVX. The corporation employs more than 7,000 team members at 62 sites in the U.S., Canada and Mexico. For more information, visit JBPoindexter.com or LinkedIn.

Hunter Dodson
512-914-6745
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ATHENS, Greece--(BUSINESS WIRE)--Danaos Corporation (NYSE: DAC), one of the world’s largest independent owners of containerships, announced today that it will release its results for the first quarter ended March 31, 2022, after the close of the market in New York on Monday, May 16, 2022.

The Company’s management team will host a conference call to discuss the results on Tuesday, May 17, 2022 at 9:00 A.M. ET.

Conference Call Details:
Participants should dial into the call 10 minutes before the scheduled time using the following numbers:

U.S. Toll Free Dial-in: 1 844 802 2437
U.K. Toll Free Dial-in: 0 800 279 9489
Standard International Dial-in: +44 (0) 2075 441 375

Please indicate to the operator that you wish to join the Danaos Corporation earnings call.

A telephonic replay of the conference call will be available until May 24, 2022 by dialing 1 877 344 7529 (US Toll Free Dial In) or 1-412-317-0088 (Standard International Dial In) and using 2700349# as your access code.

Audio Webcast:
A live audio webcast of the conference call will be available through the Danaos Corporation website (www.danaos.com). Participants of the live audio webcast should register on the website approximately 10 minutes prior to the start of the webcast. An archived version of the audio webcast will be available on the website within 48 hours of the completion of the call.

About Danaos Corporation
Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our fleet of 77 containerships aggregating 482,789 TEUs, which includes 6 containerships on order aggregating 46,200 TEU with scheduled deliveries in 2024, ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Our fleet is chartered to many of the world’s largest liner companies on fixed-rate charters. Danaos Corporation’s shares trade on the New York Stock Exchange under the symbol “DAC”.

Visit our website at www.danaos.com

Company:

Evangelos Chatzis
Chief Financial Officer
Danaos Corporation
Athens, Greece
Tel: +30 210 419 6480
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Iraklis Prokopakis
Senior Vice President & Chief Operating Officer
Danaos Corporation
Athens, Greece
Tel. +30 210 419 6400
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Investor Relations and Financial Media:

Rose & Company
New York
Tel. 212-359-2228
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) announced today it will host investor meetings at the following conferences:

• MUFG Oil & Gas Conference, Tuesday, May 10, 2022 in New York, NY; and
• EIC Investor Conference, Monday, May 16, 2022 and Tuesday, May 17, 2022 in Palm Beach, FL.

The latest investor deck, which may be used to facilitate investor meetings, can be accessed under the Investors tab on the Enterprise website.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key United States inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.

Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations, (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.

Bi-directional charging enables power flow between the power grid and the car, allowing for integration with power storage and non-grid renewable power resources

DURHAM, N.C. & SAN DIEGO--(BUSINESS WIRE)--Rhombus Energy Solutions, a leader in electric vehicle (EV) charging and power conversion technology, today announced that Wolfspeed, Inc., (NYSE: WOLF), the global leader in Silicon Carbide technology, will supply its EV2flex™ line of charging infrastructure products with Silicon Carbide MOSFETs, which will offer the products greater efficiency, higher power density and faster charging times.

Rhombus’ EV2flex™ infrastructure includes a family of products that enables fast, bi-directional charging and efficient energy storage. Vehicle-to-grid (V2G) charging supports power flow between the grid and the car, allowing a charged vehicle to become a power source when needed and ultimately enhancing the stability of the power grid.

“Wolfspeed has unequivocally demonstrated the high value of their Silicon Carbide MOSFETs and we are pleased to partner on advanced technology products,” said Deanne Davidson, senior vice president and general manager of Rhombus Energy Solutions. “As Rhombus continues to be the leading provider for V2G charging systems, Wolfspeed’s Silicon Carbide MOSFETs are a critical component for Rhombus to meet the demands in the growing DC fast-charging market for EVs.”

“Wolfspeed is excited to work with Rhombus, as we believe bi-directional charging is a game-changing technology for the stability of the power grid and our Silicon Carbide solutions will help accelerate that transformation,” said Jay Cameron, senior vice president and general manager of Wolfspeed Power. “Silicon Carbide increases both power system efficiency and power density to create a faster, more reliable transfer of power. Wolfspeed is leading the industry-wide transition from silicon to Silicon Carbide, which is critical as we look for more efficient and innovative ways to support the power grid, such as bi-directional EV charging.”

Wolfspeed is the preferred Silicon Carbide provider for Rhombus due to its unmatched, 30+ year history and expertise working with Silicon Carbide power devices. Wolfspeed’s 1200V Silicon Carbide MOSFETs will power Rhombus’ EV2flex-120™ charging infrastructure. Wolfspeed’s third generation MOSFETs deliver the performance and reliability required to meet a wide variety of industrial, energy and automotive applications.

Rhombus’ latest product in the EV2flex™ portfolio; the EV2flex-120™ dual channel will be on display at the 2022 Advanced Clean Transportation (ACT) Expo in Long Beach, CA.

About Rhombus Energy Solutions

Rhombus develops and manufactures bi-directional electric vehicle charging systems including the EV2flex™ line of charging infrastructure, high-efficiency power conversion systems and energy management system (EMS) software for vehicle-to-grid (V2G) capable electric vehicle fleet charging, energy storage and microgrid applications. The high reliability of our solutions is the result of decades of experience developing high-power systems for a variety of applications and deployment scenarios, including UL-1741-SA system-to-grid solutions. For more information, please visit www.RhombusEnergy.com.

EV2flex™ and EV2flex-120™ are trademarks of Rhombus Energy Solutions.

About Wolfspeed:

Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of Silicon Carbide and GaN technologies. We provide industry-leading solutions for efficient energy consumption and a sustainable future. Wolfspeed’s product families include Silicon Carbide materials, power-switching devices and RF devices targeted for various applications such as electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defense. We unleash the power of possibilities through hard work, collaboration and a passion for innovation. Learn more at www.wolfspeed.com.

Wolfspeed^® is a registered trademark of Wolfspeed, Inc.

Forward Looking Statements:

This press release contains forward-looking statements by Wolfspeed involving risks and uncertainties, both known and unknown, that may cause Wolfspeed’s actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may be unable to manufacture these new products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk we may encounter delays or other difficulties in ramping up production of our new products; customer acceptance of our new products; the rapid development of new technology and competing products that may impair demand or render Wolfspeed’s products obsolete; and other factors discussed in Wolfspeed’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 27, 2021, and subsequent filings. For additional product and company information, please refer to www.wolfspeed.com.

Wolfspeed Media Relations Contact:
Melinda Walker
Director, Corporate Communications
818-261-4585
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Wolfspeed Investor Relations Contact:
Tyler Gronbach
VP, Investor Relations
919-407-4820
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Rhombus Press/Media/Analyst Contact:
Carolyn Paynton
Director, Strategy & Corporate Development
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+1 888-978-6564

Rebrands to enhance agile processes with new technologies to better serve customers, continuing to drive growth in third-party services for Fresh Del Monte

MIAMI--(BUSINESS WIRE)--Network Shipping (NWS), Fresh Del Monte’s ocean logistics arm, continues to drive growth for Fresh Del Monte’s third-party services by further enhancing its platform through a rebrand that optimizes cargo space on Fresh Del Monte’s 13 owned vessels – offering tailored shipping solutions to a broader audience amid continuous supply chain pressures. The company’s recent rebrand improves its service functions with digital technology that better supports human interactions, including a renovated and easy-to-use interface that efficiently streamlines customer bookings and trade-lane information – while also offering six new fully cellular reefer box ships and renaming its four ‘smart’ routes to and from Ecuador, Guatemala, Costa Rica, Peru, and the U.S. to raise awareness of endangered marine species.

“As disruptions in logistics and shipping continue to grow, the need to find agile and efficient solutions is greater than ever. Network Shipping is leveraging Fresh Del Monte’s resources, achieving an almost 100% on-time delivery rate, and responding quickly to ever-evolving market needs,” said Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer at Fresh Del Monte. “We’re looking forward to offering our solutions to more people, giving them access to our robust, reliable distribution and logistics network that FDM customers have come to know and appreciate.”

Network Shipping’s value proposition focuses on providing the best solutions with a human touch. Operating as a hybrid shipping line/cargo owner, the boutique ocean logistics company understands the market pain points customers go through. “Amid the ongoing supply chain crisis, customers need a reliable partner. At NWS, our goal is to build extended products enabling better end-to-end solutions tailored to each customer’s needs,” said Francis McCawley, Head of Commercial at Network Shipping. “We don't follow a 'one size fits all' model as we know each and every customer is different and equally important, no matter the size.”

​​“Our focus is to provide our customers with excellent service, integrated ocean and inland solutions, flexible last-minute changes, optimized route consultations, reefer expertise, and human interactions,” said Helmuth Lutty, Senior Vice President, Shipping Operations. “That’s what distinguishes us from the liner pack, everything follows our boutique ideology.”

NWS has exceeded expectations by turning 2021 into a record year both in revenue and cargo. Commercial cargo, which falls under Fresh Del Monte’s Other Products and Services segment, saw an increase in 2021 revenue by approximately 45% compared with 2020. Its strong performance continued into Q1 2022. NWS is outpacing its big shipping line competitors with an almost 100 percent on-time arrival rate versus the reliability between 26 to 50 percent for big shipping lines.

The company has also opened new agencies in the U.S., Guatemala, Costa Rica, and Peru to better serve customers. NWS aims to become a more proactive logistics partner in cold-chain solutions (i.e., cold storage at ports and cross-docking) and by enabling better end-to-end solutions through the creation of extended products.

To learn more about Network Shipping, visit www.network-shipping.com. To learn more about Fresh Del Monte’s services, visit www.freshdelmonte.com.

ABOUT FRESH DEL MONTE

Fresh Del Monte Produce Inc. is one of the world's leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa, and the Middle East. Fresh Del Monte markets its products worldwide under the DEL MONTE® brand (under license from Del Monte Foods, Inc.), a symbol of product innovation, quality, freshness, and reliability for over 135 years. The company also markets its products under the MANN™ brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd. Fresh Del Monte is the first global marketer of fruits and vegetables to commit to the “Science Based Targets” initiative. In 2022, Fresh Del Monte Produce was ranked as one of “America’s Most Trusted Companies” by Newsweek based on an independent survey rating companies on three different touchpoints, including customer trust, investor trust, and employee trust. Fresh Del Monte Produce is traded on the NYSE under the symbol FDP.

ABOUT NETWORK SHIPPING

Network Shipping™ (NWS), a Fresh Del Monte company, is a boutique logistics company operating sea and land solutions for perishable cargo in Latin America and the United States for over 25 years. Network Shipping's smart sea routes have virtually 100% on-time delivery and are a great cost-effective solution to ship cargo precisely where it needs to be. Commercial cargo falls under Fresh Del Monte’s Other Products and Services segment. To learn more about Network Shipping, visit www.network-shipping.com.

Claudia Pou
Vice President, Global Head of Corporate Communications
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Program Honors Superior Energy Achievements

Achieves Sustained Excellence Designation for Third Year in a Row

NEWTON, Mass.--(BUSINESS WIRE)--Office Properties Income Trust (Nasdaq: OPI) today announced that it received the 2022 ENERGY STAR® Partner of the Year Sustained Excellence Award for its outstanding leadership in energy management. This is the fifth consecutive year that OPI has achieved Partner of the Year recognition and the third consecutive year OPI has earned the Sustained Excellence designation in the Energy Management category. Currently, 47 buildings in OPI’s portfolio are ENERGY STAR certified.

Each year, the ENERGY STAR program honors a group of businesses and organizations that have made outstanding contributions to protecting the environment through superior energy achievements. The Sustained Excellence Award is the highest honor bestowed by the ENERGY STAR program and winners are part of a distinguished group that has made a long-term commitment to fighting climate change and protecting public health through energy efficiency. They are among the nation’s leaders in driving value for the environment, the economy and the American people.

Christopher Bilotto, President and Chief Operating Officer of OPI, made the following comments:

“We are honored to be recognized as an Energy Star Partner of the Year for the fifth consecutive year and a Sustained Excellence honoree for the third year in a row. We believe this recognition is a testament to our dedication to delivering energy efficiency solutions that lower building energy consumption and that benefit the environment, our tenants and OPI. Environmental stewardship is core to our business, and we remain committed to our sustainability initiatives as we manage and shape our portfolio.”

Winners are selected from a network of thousands of ENERGY STAR partners. For a complete list of 2022 winners and more information about ENERGY STAR’s awards program, visit energystar.gov/awardwinners.

OPI is a client of The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with more than $37 billion in assets under management. RMR received the 2022 ENERGY STAR Partner of the Year Award for the fourth consecutive year.

About Office Properties Income Trust

Office Properties Income Trust (Nasdaq: OPI) is a national REIT focused on owning and leasing office properties primarily to single tenants and those with high credit quality characteristics. As of March 31, 2022, approximately 64% of OPI's revenues were from investment grade rated tenants. OPI owned and leased more than 170 properties as of March 31, 2022, with approximately 23 million square feet located in 32 states and Washington, D.C. In 2022, OPI was named as an Energy Star® Partner of the Year for the fifth consecutive year. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company. For more information, visit opireit.com.

About The RMR Group

The RMR Group (Nasdaq: RMR) is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. RMR’s vertical integration is supported by more than 600 real estate professionals in over 30 offices nationwide who manage more than $37 billion in assets under management and leverage 35 years of institutional experience in buying, selling, financing and operating CRE. RMR benefits from a scalable platform, a deep and experienced management team and a diversity of direct real estate strategies across its clients. RMR is headquartered in Newton, MA and was founded in 1986. For more information, please visit www.rmrgroup.com.

About ENERGY STAR

ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations—including more than 40 percent of the Fortune 500®—rely on their partnership with the U.S. Environmental Protection Agency (EPA) to deliver cost-saving energy efficiency solutions. Since 1992, ENERGY STAR and its partners helped American families and businesses avoid more than $500 billion in energy costs and achieve more than 4 billion metric tons of greenhouse gas reductions. More background information about ENERGY STAR’s impacts can be found at energystar.gov/impacts and state-level information can be found at energystar.gov/statefacts.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Kevin Barry
Director, Investor Relations
(617) 219-1410

FRAMINGHAM, Mass.--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc. (NYSE:AMRC), a leading clean technology integrator specializing in energy efficiency and renewable energy, today announced that members of its management team will attend the following investor conferences:

• On May 11, 2022, Ameresco’s Executive Vice President and Chief Financial Officer, Doran Hole, will participate in a fireside chat at the Citi’s 2022 Global Energy, Utilities and Climate Technology Conference at 1:45am ET. Ameresco’s management will also host virtual investor meetings throughout the day.

• On May 26, 2022, Ameresco’s Executive Vice President and Chief Financial Officer, Doran Hole, will present at the B. Riley Securities 22nd Annual Investor Conference at 1:00pm PT. Ameresco’s management will also host investor meetings throughout the day.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent clean technology integrator of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

Media Relations
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Investor Relations
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Allison Transmission’s propulsion solutions support the U.S. Marine Corps in its mission to increase fuel efficiencies and mitigate logistics risk in contested environments.

WASHINGTON--(BUSINESS WIRE)--Allison Transmission, a leading designer and manufacturer of conventional and electrified vehicle propulsion solutions for tactical wheeled and tracked defense vehicles as well as medium- and heavy-duty commercial vehicles, will be exhibiting its latest propulsion technology at the 2022 Modern Day Marine Expo from May 10-12, 2022, which will take place at the Walter E. Washington Convention Center in Washington, D.C.

Allison Transmission propulsion solutions are featured in every major tactical wheeled vehicle platform used by the U.S. Marine Corps larger than a High Mobility Multipurpose Wheeled Vehicle (HMMWV). From the Joint Light Tactical Vehicle (JLTV) to the Medium Tactical Vehicle Replacement (MTVR) and Logistics Vehicle System Replacement (LVSR), the Marine Corps trusts the world-class reliability and performance of Allison transmissions. The Amphibious Combat Vehicle (ACV), the Corps’ next-generation vehicle designed to move Marines from ship to shore, is equipped with the powerful Allison 4800SP^TM transmission designed to provide ease of operation, superior reliability and torque to take on challenging surf and complete a long swim from ship to shore.

In addition, when the Marine Corps sought to improve fuel economy in their workhorse MTVR, Allison responded by providing more fuel-efficient software settings and a means for the Marine Corps to deploy the changes throughout the fleet. Allison’s FuelSense® 2.0 is an advanced set of software and electronic controls that deliver quantifiable fuel savings of up to 6% without sacrificing performance. Key features such as Neutral at Stop and DynActive® Shifting use a learning algorithm to achieve an ideal balance between fuel consumption and performance by automatically selecting the most efficient shift point. Together, these features optimize efficiency and performance while maintaining the traditional Allison advantages of quality, reliability, durability, and productivity.

In a briefing to the U.S. House of Representatives on December 2, 2021, Lieutenant General Edward Banta, Deputy Commandant, Installations and Logistics, underscored the importance of fuel efficiency and described how the Marine Corps has been able to reduce the demand on fuel with their existing platforms. “We’ve made some successes there with software updates to our MTVR fleet that yielded 10-15% efficiency improvements in current fuel sources,” said Lt-Gen Banta. Allison’s FuelSense 2.0 contributed to these improvements.

“Allison Transmission’s brand promise is to provide the most reliable and valued propulsion solutions in the world to enable our customers to work more efficiently. Allison is proud to support the Marine Corps expeditionary force capable of littoral operations in contested environments by maximizing mobility and reducing logistical demand,” said Dana Pittard, Vice President for Defense Programs, Allison Transmission.

About Allison Transmission

Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of vehicle propulsion solutions for commercial and defense vehicles and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has more than 1,400 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.

Claire Gregory
Director, Global External Communications
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(317) 694-2065

OMAHA, Neb.--(BUSINESS WIRE)--Valmont Industries, Inc., a global leader that provides vital infrastructure and advances agricultural productivity while driving innovation through technology and Convert Italia, a Valmont Company and leading supplier of single-axis solar trackers, will launch the new Valmont Solar^TM brand at Intersolar Europe 2022 in Munich, Germany.

Valmont acquired Convert Italia in 2018, and the launch of Valmont Solar combines the strength of both brands to strategically deliver products and services that support resiliency to climate change and sustainable use of resources. Consistent with Valmont’s commitment to Environmental, Social and Governance (ESG) principles, the new brand will continue enabling the delivery of reliable power to the world and will help advance access to renewable energy sources. Under the new Valmont Solar banner, the solar industry can now access a stable partner for distributed generation and utility scale projects with a full suite of product and service offerings.

“Europe is seeing unprecedented times when it comes to energy,” says Matteo Demofonti, European business line manager, Valmont Solar. “On one hand, Europe has aggressive renewable energy targets to meet by 2025. On the other hand, supply chain and energy market volatility is causing a lot of uncertainty. The time is perfect for a company like Valmont to leverage their more than 75 years of expertise to meet these challenges.”

Valmont Solar will be positioned in a fast-paced market, where it can strategically capitalize on its market-leading position in offering innovative, sustainable, and comprehensive solutions for the PV industry in its key strategic markets of Europe, Latin America, and North America.

Unique to the brand partnership between Valmont and Convert is the ability to supply total grid solutions, in addition to its flagship solar tracker product line. Thanks to a full line of engineered products, from transmission and distribution, to substation packaging and renewable generation, Valmont Solar has the ability to provide bundled offerings to partners.

“Valmont has been a major player in the utility industry for years providing grid-hardening solutions to build a smarter, more resilient grid,” said Greg Turi, vice president, Valmont Global Generation. “Now, with Valmont Solar, we are bringing in the generation piece by partnering with PV integrators through our product and service offerings. It’s a unique role to be supplying the hardware and service that is going to help us realize a modern, clean electricity grid and we couldn’t be more excited to be on the forefront of this change.”

By leveraging Vamont’s more than 85 locations, including warehousing and service centers around the world, Valmont Solar has a truly global manufacturing and logistics footprint to meet customers’ needs. With supply chain issues at the top of developers’ minds, Valmont Solar offers the industry a powerful solution when it comes to solar trackers.

Valmont Solar’s main product, the Convert Single Axis Tracker, is a leading solar tracker with more than 15 years of performance in the field. Convert Trackers are proven performers both in the field and in the lab for their durability and easy, fast installation. Convert Trackers increase efficiency by following the sun as it moves across the sky and have up to a 25% performance increase compared to a 1 MW project using fixed-in-place solar racks.

Valmont Solar will be exhibiting its line of solar trackers and integrated offerings from May 11-13 at Intersolar Europe in Munich. To learn more about Valmont Solar, visit www.valmontsolar.com.

About Valmont Industries, Inc.

For over 75 years, Valmont^® has been a global leader in creating vital infrastructure and advancing agricultural productivity. Today, we remain committed to doing more with less by innovating through technology. Learn more about how we’re Conserving Resources. Improving Life.^® at valmont.com.

Kelsea Jones
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LOS ANGELES--(BUSINESS WIRE)--Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced its wholly owned subsidiary D&V Electronics has received an order for an automated inverter test system from Taiwan’s Automotive Research & Testing Center (ARTC) to support the development of electric vehicles and related technologies. Terms of the contract were not disclosed.

The traction inverter is a critical component in an electric vehicle’s powertrain system, designed to convert direct current from the battery to alternating power suitable for driving the electric motor.

“This prestigious research and testing center is committed to innovation and safety, including the development of green transportation solutions, based on internationally recognized testing standards and certification, and we are proud to have been selected by ARTC after a rigorous evaluation process,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc.

“As the global electric vehicle market evolves, we anticipate increasing demand for our technology -- particularly our ability to support the testing of electric motor inverters used in automotive and other transportation applications, and the testing of multiple driveline components at any stage of R&D in the manufacturing process. We appreciate ARTC’s confidence in our technology and look forward to future opportunities to work together,” said Bill Hardy, chief executive officer of D&V Electronics.

ABOUT ARTC

The Automotive Research & Testing Center (ARTC) was established in 1990 by the Ministry of Economic Affairs together with the Ministry of Transportation and Communication and the Environmental Protection Administration. Additional information is available at www.artc.org.tw.

ABOUT D&V ELECTRONICS

Founded in 1997 and acquired by Motorcar Parts of America in 2017, the electrical vehicle subsidiary, with customers in more than 90 countries, designs and manufactures testing solutions for performance, endurance, and production of multiple components in the electric power train – providing simulation, emulation, and production applications for the electrification of both automotive and aerospace industries, including electric vehicle charging systems. Additional information is available at www.dvelectronics.com.

About Motorcar Parts of America, Inc.

Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States, Canada, and Mexico, with facilities located in California, New York, Mexico, Malaysia, China and India, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia, and Canada. In addition, the company’s electrical vehicle subsidiary designs and manufactures testing solutions for performance, endurance, and production of multiple components in the electric power train – providing simulation, emulation, and production applications for the electrification of both automotive and aerospace industries, including electric vehicle charging systems. Additional information is available at www.motorcarparts.com.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company’s current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company’s Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2021 and in its Forms 10-Q filed with the SEC for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.

Gary S. Maier
(310) 972-5124

BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“ or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, is pleased to announce the signing of a technology assessment agreement with a second large global automotive manufacturer.

With a common goal of sustainability and the faster decarbonization of the U.S. automotive industry, Advent is supporting efforts to advance innovative fuel cell technology as a sustainable and efficient option for achieving carbon neutrality. More specifically, Advent will provide assistance, through:

• Supplying Membrane Electrode Assemblies (“MEAs”) for testing, evaluation, and optimization under the collaborator’s conditions.
• Providing support on MEA operational parameters while the collaborator supplies feedback to Advent on performance and durability.
• Sharing technical know-how for fuel cell stacks, proprietary HT-PEM technology, and leveraging HT PEM for advanced cooling systems.

One of the primary objectives will be to conduct a detailed assessment of Advent’s proprietary HT-PEM technology and newly launched MEAs for consideration of future opportunities. Contingent upon the successful execution of the first phase of the project, the companies will work to establish a Joint Development Agreement governing, among other things, specific product requirements, goals, milestones, and plans.

The new Advent MEAs to be tested as part of this project, are currently being developed within the framework of L’Innovator, Advent’s joint development program with the U.S. Department of Energy’s Los Alamos National Laboratory, Brookhaven National Laboratory, and National Renewable Energy Laboratory. MEAs are the most important components of a fuel cell as they greatly define the performance, lifetime, weight, and cost of the end system. Advent MEAs operate at high-temperature (80^oC to 240^oC) while the incumbent LT-PEM technology is limited to below 100^oC. High-temp operation is essential for efficient heat removal in heavy-duty mobility applications, making HT-PEM an ideal technology for trucks, aviation, and marine. Furthermore, Advent MEAs can work with impure hydrogen which can be reformed on-board from methanol, natural gas, and other renewable fuels, and are resilient to extreme temperature, humidity and air quality conditions.

Dr. Emory De Castro, Advent’s Chief Technology Officer, stated, “We are anxious to decarbonize the automotive industry using next-generation fuel cell technology and welcome this highly impactful collaboration. MEA is the heart of the fuel cell and a critical component used in fuel cells and other electrochemistry applications such as CO2-free hydrogen production, and energy storage. All of us at Advent technologies look forward to a long and productive collaboration, which will enable us to share our long-standing expertise and help reshape the automotive industry by replacing the need for conventional fuels while producing clean power.”

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles fuel cell systems and the critical components for fuel cells and other advanced energy systems. Advent is headquartered in Boston, Massachusetts, with locations in California, Denmark, Germany, Greece, and the Philippines. With 150-plus patents issued, pending, or licensed for its fuel cell technology, Advent holds the IP for next-generation HT-PEM that enable various fuels to function at high temperatures under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, maritime, aviation, and power generation sectors. For more information, visit www.advent.energy.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance corporate reputations and brand; expectations concerning relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission, as well as the other information each has files with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read the filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, with no obligation to update or revise any of these statements. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Advent Technologies Holdings, Inc.
Michael Trontzos / Chris Kaskavelis
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