Milestone demonstrates a legacy of perseverance and a vision of growth

HOUSTON--(BUSINESS WIRE)--#25yearanniversary--Audubon Engineering Company LLC (Audubon) is commemorating 25 years since its founding in August 1997. From humble beginnings as a three-person team in New Orleans to an award-winning global EPC services provider with nine affiliate companies, Audubon has much to celebrate.

Audubon’s founders—Ryan Hanemann, Denis Taylor, and Bob Rosamond—are lifelong friends. The trio graduated from Louisiana State University’s College of Engineering in the mid-1980s and later worked together at an engineering company in New Orleans. Seeing the company turn away new work because of limited capacity sparked an entrepreneurial drive in the friends.

In August 1997, Audubon was born with the vision of becoming the largest engineering company in New Orleans.

“Our original motto was, ‘failure is not an option.’ That tenacity and commitment to service quality are now a part of our cultural DNA,” said Ryan. “These values are the cornerstone of Audubon and will continue setting us up for shared success for years to come.”

Over 25 years, the company grew its track record, service offerings, client list, and talent pool. Today, Audubon encompasses nine affiliate companies providing engineering, consulting, construction, fabrication, cybersecurity, and technical field services to the energy, power, infrastructure, and industrial markets.

Audubon employs over 1,100 people at 14 offices across North and South America—and Ryan, Denis, and Bob still serve on Audubon’s board of directors.

“It’s wonderful to work side by side with Ryan and Bob after being on this 25-year adventure together. Our shared history of achievement and overcoming challenges is part of what makes our leadership team unique,” said Denis.

The company has amassed many accolades for its workplace culture. Audubon was recently recognized by the Gas Processing Suppliers Association (GPSA) for its commitment to building a strong culture of safety. The company has been lauded as a top place to work by The Times-Picayune/The New Orleans Advocate, The Oklahoman, and The Houston Chronicle. Audubon is also an LSU One Hundred business and one of ENR’s top design firms.

“On behalf of our leadership team, I want to extend our thanks and appreciation to our employees, customers, and shareholders around the world,” said Bob. “Your continued confidence and trust have been essential to our long-term success, and I look forward to reaching new heights together as we embark on our next quarter century.”

The commitment to excellence that has driven Audubon for the last 25 years will continue to drive us as we become a dominant factor in the energy transition.

In the words of Henry Ford, “Coming together is a beginning, keeping together is progress, working together is success.”

On Twitter: @audubonco

About Audubon Engineering Company LLC

Audubon Engineering Company LLC is a portfolio of affiliate companies providing engineering, consulting, construction, fabrication, cybersecurity, and technical field services to the energy, power, infrastructure, and industrial markets. With proven industry experience, innovative technologies, and data-driven insight, the Audubon group of companies delivers sustainable solutions to build a better tomorrow. For more information, visit auduboncompanies.com.

Ivonne Hallard
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Achieved Revenue Recognition on Energy Warehouses™

Announces Partnership with Energy Storage Industries Asia Pacific

Announces Energy Center Deal with Tampa Electric Company

WILSONVILLE, Ore.--(BUSINESS WIRE)--ESS Tech, Inc. (“ESS,” “ESS, Inc.” or the “Company”) (NYSE:GWH), a leading manufacturer of long-duration iron flow batteries for commercial and utility-scale energy storage applications, today announced financial results for its second quarter of 2022 ended June 30, 2022.

“Q2 marked another quarter of meaningful achievements for ESS across product installations, customer wins and operational improvement. Importantly, we reached a significant milestone in recognizing $686 thousand in revenue. Further underscoring the value proposition of our long-duration iron flow battery technology, ESS was chosen as the partner of Energy Storage Industries Asia Pacific, or ESI, an Australia-based renewables company, to supply local energy storage demand. ESI has already ordered more than 70 Energy Warehouses™ and we began shipping them in July. With backing from the local government, ESI plans to invest $60 million to develop a manufacturing facility to deliver an expected 400 MW of annual capacity for that region, with the production ramp starting in 2024. In addition, I’m thrilled that we secured a key deal with Tampa Electric Company to deliver an Energy Center™ to help enable their transition to a decarbonized grid. Clearly, the trajectory of our business is stronger than ever,” said Eric Dresselhuys, CEO of ESS.

“While our operational initiatives to lower costs and increase capacity remain on track, we have encountered supply challenges with certain vendors that may impact our ability to deliver to our plan of 40 to 50 Energy Warehouses™ this year. With that said, our second semi-automated manufacturing line is now fully operational, adding another 250 MWh of annual production capacity. Additionally, the development of our customer success team is progressing well and we are already seeing incremental value in customer deployments.”

Recent Business Highlights

• Recognized $686 thousand in revenue for three Energy Warehouses™ in the second quarter.
• On August 9, hosted Secretary Jennifer M. Granholm of the U.S. Department of Energy, U.S. Senators Ron Wyden and Jeff Merkley, and Oregon Governor Kate Brown for a tour of our Wilsonville, Oregon manufacturing facility and headquarters.
• Ramped our second semi-automated manufacturing line in the second quarter, which doubles our annual production capacity to 500 MWh.
• Completed delivery of all six of the Energy Warehouse™ units ordered by SDG&E in the second quarter. These Energy Warehouses™ will be coupled with solar energy to supply the Cameron Corners Microgrid and deliver the benefits of energy shifting and mitigate the effects of power safety shutoffs for critical services.
• Delivered one Energy Warehouse™ to partner TerraSol Energies in the second quarter. This unit will be deployed next to Sycamore International, a technology recycling firm in Pennsylvania, where it will complement a solar installation to provide business continuity and energy cost savings. TerraSol has also contracted for a second Energy Warehouse™ to site next to Sycamore International so that Sycamore can participate in the local frequency regulation market.
• Entered into a relationship with Energy Storage Industries Asia Pacific, or ESI, where ESS will supply Energy Warehouses™ and ESI will develop sales, manufacturing and on-site service of Energy Warehouses™ and Energy Centers™ in Queensland, Australia for Australia and neighboring countries. ESI has placed multiple orders for more than 70 Energy Warehouses™ and ESS began shipping in July. ESI will build the manufacturing infrastructure to deliver an expected 400 MW of annual production capacity with ESS delivering the core IP of our technology, assembled and shipped from Oregon.
• In the second quarter, signed a contract to deliver an Energy Center™ to Tampa Electric Company (TECO) to support TECO’s Big Bend Solar Project, which powers 3,300 homes. The Energy Center™ is expected to ship next year, will deliver up to 10 hours of total capacity, and is intended to be used for solar peak shifting and fossil fuel displacement.

Conference Call Details

ESS will hold a conference call on Thursday, August 11, 2022 at 5:00 p.m. EDT to discuss financial results for its second quarter 2022 ended June 30, 2022.

Interested parties may join the conference call beginning at 5:00 p.m. EDT on Thursday, August 11, 2022 via telephone by calling (844) 200-6205 in the U.S., or for international callers, by calling +1 (929) 526-1599 and entering conference ID 179422. A telephone replay will be available until August 18, 2022, by dialing (866) 813-9403 in the U.S., or for international callers, +44 (204) 525-0658 with conference ID 519615. A live webcast of the conference call will be available on ESS’ Investor Relations website at http://investors.essinc.com/.

A replay of the call will be available via the web at http://investors.essinc.com/.

About ESS, Inc.

ESS, Inc. (NYSE: GWH) designs, builds and deploys environmentally sustainable, low-cost, iron flow batteries for long-duration commercial and utility-scale energy storage applications requiring from 4 to 12 hours of flexible energy capacity. The Energy Warehouse™ and Energy Center™ use earth-abundant iron, salt and water for the electrolyte, resulting in an environmentally benign, long-life energy storage solution for the world’s renewable energy infrastructure.

Established in 2011, ESS, Inc. enables project developers, utilities and commercial and industrial facility owners to make the transition to more flexible non-lithium-ion storage that is better suited for the grid and the environment. For more information visit www.essinc.com.

Use of Non-GAAP Financial Measures

In this press release, the Company includes Non-GAAP Operating Expenses and Adjusted EBITDA, which are non-GAAP performance measures that the Company uses to supplement its results presented in accordance with U.S. GAAP. As required by the rules of the Securities and Exchange Commission (“SEC”), the Company has provided herein a reconciliation of the non-GAAP financial measures contained in this press release to the most directly comparable measures under GAAP. The Company’s management believes Non-GAAP Operating Expenses and Adjusted EBITDA are useful in evaluating its operating performance and are similar measures reported by publicly-listed U.S. companies, and regularly used by securities analysts, institutional investors, and other interested parties in analyzing operating performance and prospects. By providing these non-GAAP measures, the Company’s management intends to provide investors with a meaningful, consistent comparison of the Company’s profitability for the periods presented. Adjusted EBITDA is not intended to be a substitute for net income/loss or any U.S. GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry. Further, Non-GAAP Operating Expenses are not intended to be a substitute for GAAP Operating Expenses or any U.S. GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry. For guidance purposes, the Company is not providing a quantitative reconciliation of forecasted non-GAAP operating expenses in reliance on the “unreasonable efforts” exception for forward-looking non-GAAP measures set forth in SEC rules because certain financial information is not available and cannot be reasonably estimated without unreasonable effort and expense.

The Company defines and calculates Non-GAAP Operating Expenses as GAAP Operating Expenses adjusted for stock-based compensation and other special items determined by management as they are not indicative of business operations. The Company defines and calculates Adjusted EBITDA as net loss before interest, other non-operating expense or income, (benefit) provision for income taxes, and depreciation, and further adjusted for stock-based compensation and other special items determined by management, including, but not limited to, fair value adjustments for certain financial liabilities associated with debt and equity transactions as they are not indicative of business operations.

Forward-Looking Statements

This communication contains certain forward-looking statements, including statements regarding ESS and its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Examples of forward-looking statements include, among others, statements regarding the Company’s manufacturing plans, the Company’s order and sales pipeline, the Company’s ability to execute on orders, the Company’s ability to effectively manage costs and the Company’s partnerships with third parties. These forward-looking statements are based on ESS' current expectations and beliefs concerning future developments and their potential effects on ESS. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication. There can be no assurance that the future developments affecting ESS will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond ESS control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, continuing supply chain issues; delays, disruptions, or quality control problems in the Company’s manufacturing operations; the Company’s ability to hire, train and retain an adequate number of manufacturing employees; issues related to the shipment and installation of the Company's products; issues related to customer acceptance of the Company's products; issues related to the Company’s partnership with third parties; and the Company’s need to achieve significant business growth to achieve sustained, long-term profitability. Except as required by law, ESS is not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Investors:
Erik Bylin
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Media:
Morgan Pitts
+1 (503) 568-0755
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Trace will focus on traditional energy investments that drive energy security today and opportunities to create the necessary low carbon world of the future.

HOUSTON--(BUSINESS WIRE)--Trace Capital Management (Trace) announced today that it has been formed via the “lift out” of Denham Capital’s Energy Resources investment program - its active funds, people and associated infrastructure - into a newly created energy focused SEC registered investment advisor.

With more than $1.4 billion of invested and callable capital across two actively investing funds, Trace will continue the successful Energy Resources investment strategy of making private investments in energy infrastructure, upstream oil and gas and low/no carbon assets and businesses. Trace generates market leading energy returns by prioritizing management team edge, asset level diligence and discipline, portfolio construction and risk management.

Jordan Marye, Trace’s Managing Partner said, “We are excited to form Trace Capital in a moment of great change and opportunity in the global energy landscape. We believe our investment process, team and proven track record form the foundation of an advantaged energy investment platform for institutional investors, entrepreneurs and businesses seeking to capture real energy returns available today while also taking advantage of opportunities created by the world’s critical low carbon priorities.”

Trace will be led by the current Energy Resources leadership team of Jordan Marye, Stu Porter, Geer Blalock, Steven Smith, James Obulaney and Anil Pillai along with the rest of the current Energy Resources team. The Trace leadership team has worked together for over 10 years during which time the team has managed more than $2.9 billion in total committed and invested capital and 26 investment platforms. Trace’s current portfolio includes 11 active investments including Rushmore Resources, Rockies Resources, Canes Midstream and BANGL Pipeline.

Stu Porter, Managing Partner of Denham and Senior Partner of Trace said, “Denham is proud to have created and fostered the Energy Resources investment platform, and I look forward to remaining involved as a Trace Capital partner, investor and contributor to its continued success.”

About Trace: Trace Capital Management (Trace) is a proven and pragmatic energy investor focused on value and growth investments across the global energy landscape, with a particular focus on energy infrastructure, upstream oil and gas and viable low/no carbon opportunities. Based in Houston, Texas, Trace currently manages funds with invested and committed capital of more than $1.4 billion. Learn more at tracecapital.com

Krystal Patout, 713-627-2223

ROME--(BUSINESS WIRE)--So far, Chery has established a research and development system covering six research and development centers in North America, Europe and Shanghai. It has applied more than 23000 patents and authorized more than 14000 patents (of which the invention patent accounts for 1/3).

In the future, the Group will focus its businesses in new energy and intelligent network. It will be committed to constructing three vehicle platforms, namely, intelligent pure electricity, high performance and hybrid power; it will perfect the layout of battery, motor and electronic control to realize the deep integration of battery technology, electric drive technology, power software, as well as the leading breakthrough of battery charging and changing technologies; it will focus on the intelligent network to make the development and layout of core technologies such as electrical architecture, over-the-air (OTA) technology, big data and interactive ecology come true, and realize the differentiated intelligent experience.

As China’s first automobile enterprise that exports vehicles, CKD spare parts, engines and vehicle manufacturing technologies and equipment overseas, Chery has never ceased its pursuit for the global market. Up to now, it’s products has been exported to more than 80 countries and regions; it has 10 overseas factories as well as more than 1500 overseas distributors and service outlets, cumulatively serving 10 million users.

Upholding the original intention of “Adhering to the Mastering of Core Technologies”, Chery was praised as “Technology Chery” at the beginning of its establishment. Thanks to the six research and development centers and more than 5000 research and development of elites, it has formed the technical advantages in terms of traditional fuel technology, new energy and intelligent field. After more than 20 years of exploration, Chery has established a complete industrial layout including four vehicle platforms, five general subsystems and seven core technologies, which enables its EQ1 model to lead among the micro pure electric vehicles in China and even the world. In terms of intelligent field, Chery has gradually upgraded the intelligent industry in the whole life cycle of research and development, manufacturing, marketing and service, taking the lead in achieving the mass production and marketing of the model equipped with ADAS technology.

Facebook: Chery Italia
link: https://www.facebook.com/cheryitalia
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link: https://www.facebook.com/Chery-Espa%C3%B1a-105827098547919
Facebook: Chery France
link: https://www.facebook.com/Chery-France-111673837955296
Facebook: Chery Germany
link: https://www.facebook.com/Chery-Germany-106979888430597

Zhijie Zhou
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+86 18315371973

EUCLID, Ohio--(BUSINESS WIRE)--PMT Group and subsidiaries are adding 30,000 sq ft of additional space to expand of its specialty metals production and fabrication facilities. This 30,00 sq ft includes an expansion of Terves’ dissolvable magnesium extrusion facility, and 24,000 sq ft of new construction to house the expanded magnetic materials and lightweight sheet and foil production. The groundbreaking on August 18, 2022 is for the expansion of the extrusion facility, to be completed in 2022, while the new construction will be completed in 2023.

PMT Group’s subsidiary company, Terves, is the only fully integrated wrought magnesium producer in North America and will be furthering its leadership in this space by installing the Vertical Direct Chill Casting system for magnesium alloy billets, which will be the first such system to be installed in North America in this century. With this installation, Terves which is already a market leader in dissolvable magnesium, will be entering the lightweighting market by supplying magnesium extrusions and castings to automotive, aerospace, defense and other companies that care about sustainability and have ambitious carbon neutral goals. Magnesium is the lightest structural material and implementing sustainable lightweight materials and addressing design concepts in a circular economy is one of the most important issues facing OEMs today.

Additionally, PMT Group’s subsidiary company, Magnet Energy, is making strides towards developing and manufacturing advanced nanoengineered magnetic and insulator materials that enable lower cost, more efficient, and higher power density electric motors and controllers. Being the only US based magnetic material producer, while eliminating sensitivity to rare earth price and supply fluctuations; Magnet Energy is in a unique position to support the electrification of transportation and the development of the smart grid. The 24,000 sq ft expansion will significantly accelerate the commercialization of Made-in-USA rare-earth free magnets.

About PMT Group:

PMT Group is a nationally recognized nanotechnology, advanced materials and electrification technology incubator that has led the creation of 8 spinout companies, including two exits. Its current portfolio companies include, Powdermet Inc., Terves Inc., Hybrid Materials LLC, Cratus LLC, Magnet Energy LLC and CermeTech LLC.

About Terves:

Terves is the technology and cost leader in the development, manufacturing and sale of Engineered Response™ smart materials for the oil and gas industry. Terves is the leading manufacturer of dissolvable metals and dissolvable elastomers that are used for making frac balls, plugs, slips, seals and several other components used in oil and gas well completion and production; and have been used for completing tens of thousands of stages across the globe.

About Magnet Energy:

Magnet Energy develops and manufactures advanced nanoengineered magnetic and insulator materials that enable lower cost, more efficient, and higher power density electric motors and controllers. Being the only US based magnetic material producer, while eliminating sensitivity to rare earth price and supply fluctuations; Magnet Energy is in a unique position to support the electrification of transportation and the development of the smart grid.

Anupam Ghildyal
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Increases RNG production and diversifies portfolio with landfill gas-to-power assets

HOUSTON--(BUSINESS WIRE)--Kinder Morgan, Inc. (NYSE: KMI) today announced it has closed on the acquisition of North American Natural Resources, Inc. (NANR) and its sister companies, North American Biofuels, LLC and North American-Central, LLC. The $135 million acquisition in combined purchase price and related transaction costs includes seven landfill gas-to-power facilities in Michigan and Kentucky.

Shortly following close, KMI will make a final investment decision (FID) on the conversion of up to four of the seven gas-to-power facilities to renewable natural gas (RNG) facilities with a capital spend of approximately $175 million. Pending FID, these facilities are expected to be in service by early 2024. Once complete, the facilities are expected to generate approximately 2 billion cubic feet (Bcf) per year of RNG. This acquisition and the additional investments discussed above, combined with the recent Kinetrex Energy and Mas CanAm acquisitions, will enhance the company’s vertically integrated platform that delivers differentiated solutions across the RNG value chain. The combined RNG operations will provide KMI with annual RNG generation capacity of approximately 7.7 Bcf per year once all of the RNG facilities are in service. The remaining three NANR assets, projected to produce 4.8 megawatt-hours in 2023, will further diversify KMI’s renewable portfolio by adding electricity generation to its landfill gas-to-power operations.

“We are excited to continue KMI’s commitment to growing our RNG business through the acquisition of NANR’s facilities and expertise,” said Energy Transition Ventures President Anthony Ashley. “We believe this further positions us as a leader in the RNG marketplace and look forward to expanding our RNG footprint to benefit the customers, businesses and communities we serve.”

“We are proud of the business NANR’s employees have built over the past 43 years,” said NANR President Bob Evans. “With the evolution of energy markets, we are excited to join the KMI family as the world transitions to a cleaner energy future.”

KMI expects the investment to be accretive to its shareholders as the four converted RNG facilities become operational over the next 18 months, with the purchase price and additional development capital expenditures representing less than six times the expected 2024 EBITDA.

KMI’s August investor presentation as revised to include the NANR acquisition has been posted to the Investor Relations page of KMI’s website.

About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient and environmentally responsible manner for the benefit of the people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines, 141 terminals, and 700 billion cubic feet of working natural gas storage capacity. Our pipelines transport natural gas, refined petroleum products, renewable fuels, crude oil, condensate, CO₂ and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, renewable fuel feedstocks, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.

Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. Generally the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning the transaction; the prospects for RNG; the anticipated benefits of the transaction; and the anticipated timing and benefits of RNG conversion projects to KMI’s business and stockholders. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on KMI's operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include changes in the supply of and demand for renewable natural gas; the timing, cost, and success of RNG conversion projects; commodity prices, particularly the prices for Renewable Identification Numbers under the U.S. Environmental Protection Agency’s Renewable Fuel Standard Program; counterparty financial risk; the timing and success of business development efforts; and the other risks and uncertainties described in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2021 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on KMI’s website at ir.kindermorgan.com. Forward-looking statements speak only as of the date they were made, and except to the extent required by law, KMI undertakes no obligation to update any forward-looking statement because of new information, future events or other factors. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements.

Victoria Oddi
Media Relations
(713) 420-4641
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Investor Relations
(800) 348-7320
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www.kindermorgan.com

BURLINGTON, Ontario--(BUSINESS WIRE)--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) will release its financial results for the second quarter of 2022, and as previously disclosed, it will also file its restated annual financial statements for the periods ended December 31, 2021, and 2020, its restated interim financial statements for the three-month period ended March 31, 2022, and its restated management’s discussion and analysis for those periods (collectively, the “Restatements”) on Monday, August 15, 2022, after market close.

Conference Call and Webcast Details

A conference call to review the Company’s financial results will take place at 11:00 a.m. (ET) on Tuesday, August 16, 2022. It will be hosted by Chairman and Chief Executive Officer, Andrew Benedek, Chief Operating Officer, Yaniv Scherson, and Chief Financial Officer, Hani Kaissi. An accompanying slide presentation will be posted to the Investor Relations section of the Company’s website shortly before the call.

To participate on the call, please sign up to receive your personal event-joining details at the following pre-registration link:

• Conference Call Pre-registration: https://ige.netroadshow.com/registration/q4inc/11094/q2-anaergia-conference-call-and-webcast-2022/. You will receive your access details via email.

To listen to the webcast live:

• https://events.q4inc.com/attendee/574451178/

The webcast will be archived and available in the Investor Relations section of our website following the call.

About Anaergia

Anaergia was created to eliminate a major source of greenhouse gases by cost effectively turning organic waste into renewable natural gas (“RNG”), fertilizer and water, using proprietary technologies. With a proven track record from delivering world-leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the municipal solid waste, municipal wastewater, agriculture, and food processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events, including statements relating to the ability of our technologies and projects to address about two-thirds of all point source methane emissions and our business plans, growth strategies and ESG initiatives. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Company’s annual information form dated March 28, 2022 for the fiscal year ended December 31, 2021. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

For further information please see: www.anaergia.com

For media relations please contact: Melissa Bailey, Director, Marketing & Corporate Communications, This email address is being protected from spambots. You need JavaScript enabled to view it.
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DUBLIN--(BUSINESS WIRE)--The "Global Base Oil Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.

This report highlights that the global base oil market is expected to surge at a CAGR of 3.42% in revenue over the forecasted period 2022-2028. In terms of volume, the market is anticipated to reach a CAGR of 3.95%.

Companies Mentioned

• Exxon Mobil Corporation
• Chevron Corporation
• Saudi Aramco
• Shell plc
• Neste Oyj
• Gs Caltex Corporation
• Avista Oil AG
• Pt Pertamina (Persero)
• Phillips 66 Company
• Sepahan Oil
• Ergon Inc
• Grupa Lotos
• Nynas Ab
• S-Oil Corporation
• Repsol SA

The studied market's growth is attributed to factors such as rising demand for high-grade oils from the automotive sector, environmental regulations demanding stricter performance standards, and a vast range of applications across various end-user segments. Further, the rising awareness of consumers and end-use industries toward the adoption of renewable base oil is expected to open new avenues for the base oil market.

However, the volatility in crude oil prices across different countries globally is majorly affecting the growth of this market.

Regional Outlook

The global base oil market includes North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa.

Globally, the Asia-Pacific is expected to witness the fastest growth rate in the market over the forecast years. In China, increasing demand for crude oil owing to rapid industrialization, economic growth, and escalating exports of refined petroleum products are boosting the market's growth. Additionally, the country witnessed significant growth in the production and sales of automobile vehicles. In this regard, the OICA estimated that the total production of cars and commercial vehicles bolstered by over 1.5 million units within a year. Thus, these factors are widening the scope of the base oil market.

Key Topics Covered:

1. Global Base Oil Market - Summary

2. Industry Outlook

2.1. Impact of Covid-19 on the Base Oil Market

2.2. Key Insights

2.2.1. Rapid Industrialization Across the Globe

2.2.2. Increasing Demand for Hydraulic Oil

2.3. Porter's Five Forces Analysis

2.4. Market Attractiveness Index

2.5. Vendor Scorecard

2.6. Key Market Strategies

2.6.1. Product Launches & Developments

2.6.2. Partnerships & Agreements

2.7. Market Drivers

2.7.1. Rising Demand for High-Grade Oils from the Automotive Sector

2.7.2. Wide Range of Applications Across Different End-Users

2.7.3. Stringent Environmental Regulations Leading to Strict Performance Standards

2.8. Market Challenges

2.8.1. Volatility in the Price of Crude Oil

2.8.2. Decrease in the Demand for Group I Base Oil

2.9. Market Opportunities

2.9.1. Increasing Popularity of Renewable Base Oil

2.9.2. Growing Demand Across the Asia-Pacific Region

3. Global Base Oil Market Outlook - by Group (In Terms of Value: $ Million & Volume: Kiloton)

3.1. Group I

3.2. Group Ii

3.3. Group Iii

3.4. Group Iv

3.5. Group V

4. Global Base Oil Market Outlook - by Application (In Terms of Value: $ Million & Volume: Kiloton)

4.1. Automotive Oil

4.2. Industrial Oil

4.3. Greases

4.4. Hydraulic Oil

4.5. Metalworking Fluids

4.6. Other Applications

5. Global Base Oil Market - Regional Outlook (In Terms of Value: $ Million & Volume: Kiloton)

6. Competitive Landscape

7. Research Methodology & Scope

For more information about this report visit https://www.researchandmarkets.com/r/qhbo6n

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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AUSTIN, Texas--(BUSINESS WIRE)--USA Compression Partners, LP (NYSE: USAC) (“USA Compression”) today announced that its senior management will attend the Citi One-on-One Midstream / Energy Infrastructure Conference in Las Vegas, Nevada. Senior management expects to participate in a series of meetings with members of the investment community on August 16, and presentation materials used during these meetings will be posted to USA Compression’s website prior to the investor meetings. Please visit the Investor Relations section of the website at usacompression.com under “Presentations.”

About USA Compression Partners, LP

USA Compression Partners, LP is a growth-oriented Delaware limited partnership that is one of the nation’s largest independent providers of natural gas compression services in terms of total compression fleet horsepower. USA Compression partners with a broad customer base composed of producers, processors, gatherers and transporters of natural gas and crude oil. USA Compression focuses on providing natural gas compression services to infrastructure applications primarily in high-volume gathering systems, processing facilities and transportation applications. More information is available at usacompression.com.

USA Compression Partners, LP

Mike Pearl, CFO
(832) 823-7306

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• Second quarter revenue increased $1.1 million, or 34%, to $4.5 million over the prior-year period
• Tool revenue grew 27% over the prior-year period and Contract Services revenue was up 47%
• Strengthening balance sheet with $2.8 million in cash and $6.7 million in shareholders’ equity at quarter-end
• Secured strategic International channel partner in the Middle East and North Africa
• The Company expects 2022 revenue of between $22 million to $25 million and Adjusted EBITDA* of $6 million to $8 million, which includes the impact of the sale of the initial phase of the existing DNR tool fleet to support Middle East demand.

*Adjusted EBITDA is a non-GAAP measure. See the Forward Looking Non-GAAP Financial Measures discussion in this release.

VERNAL, Utah--(BUSINESS WIRE)--Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or the “Company”), a designer and manufacturer of drilling tool technologies, today reported financial results for the second quarter ended June 30, 2022.

“Our second quarter revenue growth reflected the continued improvement in the oil & gas industry, our success with obtaining additional business with existing customers, and the increasing market for our flagship tool, the Drill-N-Ream® (“DNR”),” commented Troy Meier, Chairman and CEO. “We have continued to see favorable demand in our North America market, and we are encouraged with the improving market conditions in the Middle East. We believe there is significant demand for the DNR internationally. Our recent announcement that Bin Zayed Petroleum for Investment Ltd, one of the foremost global companies with broad petroleum experience, will market and distribute our DNR to key end markets in the Middle East and North Africa is a game-changing event for us. We expect customers to adopt the technology quickly given our new channel partner’s scale, customer reach and market access.”

Mr. Meier added, “Our contract services business has been very strong as we continue to expand the volume and products we manufacture and refurbish for our long-time legacy customer. Equally exciting, is the number of inquiries and discussions we are having with other major industry players to leverage our state-of-the-art drilling tool fabrication facility and expertise to support their growth initiatives and strategies. Our efforts going forward are focused on talent acquisition and retention, and ensuring we have the necessary manufacturing capacity to capture the incredible demand for our products and manufacturing services.”

Second Quarter 2022 Review ($ in thousands, except per share amounts) (See at “Definitions” the composition of product/service revenue categories.)

Revenue growth reflects the continued recovery in the North America oil & gas industry and continued strong demand for the manufacture and refurbishment of drill bits and other related tools.

For the second quarter of 2022, North America revenue comprised approximately 89% of total revenue, with remaining sales all within the Middle East. Revenue in North America grew year-over-year from increased Tool Revenue and strong growth in Contract Services. Over the last year, International market growth has been at a slower rate compared with the Company’s domestic market due to ongoing pandemic-related restrictions, which have impacted travel, labor recruitment and oil and gas industry investment.

Second Quarter 2022 Operating Costs

⁽¹⁾ Adjusted EBITDA is a non-GAAP measure defined as earnings before interest, taxes, depreciation, and amortization, non-cash stock compensation expense, and unusual items. See the attached tables for important disclosures regarding SDP’s use of Adjusted EBITDA, as well as a reconciliation of net loss to Adjusted EBITDA.

The increase in the cost of revenue as a percent of revenue was the result of global inflationary headwinds that affected payroll expenses, raw material cost, supplies, and repair and maintenance costs. In addition, the Company has expanded its workforce to accommodate for its current and expected growth, with talent being added in operations, quality, safety and general production support areas.

Selling, general & administrative expenses were 41.7% of revenue, an improvement of 160 basis points from the prior-year period due to the leverage on higher sales volume. On a sequential basis, the change in SG&A as a percent of revenue was unfavorable due to inflation and higher stock-based compensation expense as well an increase in professional fees.

Depreciation and amortization expense decreased approximately 31% year-over-year to $403 thousand as a result of fully amortizing a portion of intangible assets and fully depreciating manufacturing center equipment.

Balance Sheet and Liquidity

Cash at the end of the quarter was $2.8 million, comparable with year-end 2021. Cash generated by operations for the year-to-date period was $1.4 million compared with $335 thousand in the prior-year period, largely reflecting the improvement in net income. Capital expenditures were $1.2 million for the first six months of 2022, which reflected machining capacity expansion, an increase in maintenance, and an increase in the Company’s Middle East DNR rental tool fleet. The comparable period in 2021 had $55 thousand of capital spending. The Company expects capital spending for fiscal 2022 to range between $3 million to $4 million.

Total debt at quarter-end was $2.4 million, down 2% from December 31, 2021. The Company has sufficient cash to pay off, and expects to retire, the Hard Rock Note with its final $750 thousand payment in October 2022.

2022 Outlook and Guidance

The Company’s expectations for 2022 are as follows:

Revenue: $22 million to $25 million
SG&A: $7.0 million to $7.3 million
Adjusted EBITDA: $6 million to $8 million

The full year 2022 expectations reflects the impact from the sale of the $3.8 million stage one MENA DNR fleet to Bin Zayed Petroleum in the third quarter of 2022. The Company expects third quarter 2022 revenue will be $8 million to $9 million and Adjusted EBITDA to range between $3.5 million to $4.0 million.

Mr. Meier concluded, “We are extremely encouraged with the execution of our channel partner agreement with Bin Zayed for the Middle East and North African markets. We believe this progress, combined with our expanded relationship with our long-term legacy customer, will position us well in the global oil & gas industry as we prepare to move into 2023.”

Webcast and Conference Call

The Company will host a conference call and live webcast today at 10:00 am MT (12:00 pm ET) to review the results of the quarter and discuss its corporate strategy and outlook. The discussion will be accompanied by a slide presentation that will be made available prior to the conference call on SDP’s website at www.sdpi.com/events. A question-and-answer session will follow the formal presentation.

The conference call can be accessed by calling (201) 689-8470. Alternatively, the webcast can be monitored at www.sdpi.com/events. A telephonic replay will be available from 1:00 p.m. MT (3:00 p.m. ET) the day of the teleconference until Friday, August 19, 2022. To listen to the archived call, please call (412) 317-6671 and enter conference ID number 13731267 or access the webcast replay at www.sdpi.com, where a transcript will be posted once available.

Definitions and Composition of Product/Service Revenue:

Contract Services revenue is comprised of repair and manufacturing services for drill bits and other tools or products for customers.

Other Related Tool Revenue is comprised of royalties and fleet maintenance fees.

Tool Sales/Rental revenue is comprised of revenue from either the sale or rent of tools to customers.

Tool Revenue is the sum of Other Related Tool Revenue and Tool Sales/Rental revenue.

About Superior Drilling Products, Inc.

Superior Drilling Products, Inc. is an innovative, cutting-edge drilling tool technology company providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry. The Company designs, manufactures, repairs and sells drilling tools. SDP drilling solutions include the patented Drill-N-Ream® wellbore conditioning tool and the patented Strider™ oscillation system technology. In addition, SDP is a manufacturer and refurbisher of PDC (polycrystalline diamond compact) drill bits for a leading oil field service company. SDP operates a state-of-the-art drill tool fabrication facility, where it manufactures its solutions for the drilling industry, as well as customers’ custom products. The Company’s strategy for growth is to leverage its expertise in drill tool technology and innovative, precision machining in order to broaden its product offerings and solutions for the oil and gas industry.

Additional information about the Company can be found at: www.sdpi.com.

Safe Harbor Regarding Forward Looking Statements

This news release contains forward-looking statements and information that are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical fact included in this release, including, without limitations, the continued impact of COVID-19 on the business, the Company’s strategy, future operations, success at developing future tools, the Company’s effectiveness at executing its business strategy and plans, financial position, estimated revenue and losses, projected costs, prospects, plans and objectives of management, and ability to outperform are forward-looking statements. The use of words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project”, “forecast,” “should” or “plan, and similar expressions are intended to identify forward-looking statements, although not all forward -looking statements contain such identifying words. These statements reflect the beliefs and expectations of the Company and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, the duration of the COVID-19 pandemic and related impact on the oil and natural gas industry, the effectiveness of success at expansion in the Middle East, options available for market channels in North America, the deferral of the commercialization of the Strider technology, the success of the Company’s business strategy and prospects for growth; the market success of the Company’s specialized tools, effectiveness of its sales efforts, its cash flow and liquidity; financial projections and actual operating results; the amount, nature and timing of capital expenditures; the availability and terms of capital; competition and government regulations; and general economic conditions. These and other factors could adversely affect the outcome and financial effects of the Company’s plans and described herein. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

Forward Looking Non-GAAP Financial Measures

Forward-looking adjusted EBITDA is a non-GAAP measure. The Company is unable to present a quantitative reconciliation of these forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measure because such information is not available, and management cannot reliably predict the necessary components of such GAAP measures without unreasonable effort largely because forecasting or predicting our future operating results is subject to many factors out of our control or not readily predictable. In addition, the Company believes that such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The unavailable information could have a significant impact on the Company’s fiscal 2022 and future financial results. This non-GAAP financial measure is a preliminary estimate and is subject to risks and uncertainties, including, among others, changes in connection with purchase accounting, quarter-end and year-end adjustments. Any variation between the Company’s actual results and preliminary financial data set forth in this presentation may be material.

FINANCIAL TABLES FOLLOW.

⁽¹⁾ Adjusted EBITDA represents net income adjusted for income taxes, interest, depreciation and amortization and other items as noted in the reconciliation table. The Company believes Adjusted EBITDA is an important supplemental measure of operating performance and uses it to assess performance and inform operating decisions. However, Adjusted EBITDA is not a GAAP financial measure. The Company’s calculation of Adjusted EBITDA should not be used as a substitute for GAAP measures of performance, including net cash provided by operations, operating income and net income. The Company’s method of calculating Adjusted EBITDA may vary substantially from the methods used by other companies and investors are cautioned not to rely unduly on it.

For more information, contact investor relations:
Deborah K. Pawlowski
Kei Advisors LLC
(716) 843-3908
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WASHINGTON--(BUSINESS WIRE)--On August 12, 2022 Congress passed the Inflation Reduction Act of 2022, which will now be sent to President Biden to be signed into law. The Inflation Reduction Act will create a new clean hydrogen production tax credit, an incentive that is critical to developing the hydrogen economy in the U.S. The CHFC is supportive of the hydrogen-related provisions in the Inflation Reduction Act and looks forward to continued work with Congress to advance hydrogen technologies.

CHFC Chair Erik Mason, Nikola Global Head of Energy Supply & Trading, issued the following statement on the legislation:

“The Clean Hydrogen Future Coalition (CHFC) commends Congress on the passage of the Inflation Reduction Act (IRA), which includes a new clean hydrogen production tax credit (PTC). This new PTC with the ability to take elective payment will enable private sector investments in clean hydrogen projects throughout the country and leverage the commitment Congress already made to clean hydrogen hubs in the Infrastructure Investment and Jobs Act. The CHFC thanks Congressional leaders in the House and Senate that contributed to the development of this provision and championed them throughout this process.

The CHFC aims to support policy solutions that promote a resource-agnostic, technology-neutral approach to the economy-wide deployment of clean hydrogen. CHFC members believe all clean hydrogen production methods with low or net-zero CO2 emissions are necessary to scale clean hydrogen to levels at which it can contribute to economy-wide decarbonization. The CHFC is supportive of a hydrogen production tax credit that will result in investments for all forms of clean hydrogen production and celebrates the establishment of a clean hydrogen PTC, even if it may fall short of that goal.

We look forward to President Biden signing the IRA into law so that clean hydrogen can continue to advance as a versatile decarbonization tool and create well-paying jobs across all sectors of our economy. The CHFC looks forward to continued engagement with the administration on the implementation of this important provision.”

Jenna Peth
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TORONTO--(BUSINESS WIRE)--Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) announced today that it has changed its auditor to Deloitte LLP (“Deloitte”) from Baker Tilly WM LLP (“Baker Tilly”), effective August 11, 2022. Following the recommendation of the Audit Committee, Carbon Streaming’s Board of Directors accepted the resignation of Baker Tilly and approved the appointment of Deloitte as the Company’s auditor until the next annual general meeting of the Company.

In accordance with National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”), the Notice of Change of Auditor, together with the response letters from Deloitte and Baker Tilly, have been filed on SEDAR. There were no “reportable events”, as the term is defined in NI 51-102, between the Company and Baker Tilly.

About Carbon Streaming

Carbon Streaming is an ESG principled company offering investors exposure to carbon credits, a key instrument used by both governments and corporations to achieve their carbon neutral and net-zero climate goals. Our business model is focused on acquiring, managing and growing a high-quality and diversified portfolio of investments in projects and/or companies that generate or are actively involved, directly or indirectly, with voluntary and/or compliance carbon credits.

The Company invests capital through carbon credit streaming arrangements with project developers and owners to accelerate the creation of carbon offset projects by bringing capital to projects that might not otherwise be developed. Many of these projects have significant social and economic co-benefits in addition to their carbon reduction or removal potential.

The Company has executed carbon credit streaming agreements related to over 10 projects around the globe, including nature-based, biochar, methane avoidance, clean cookstove and water filtration projects.

To receive corporate updates via e-mail, please subscribe here.

ON BEHALF OF THE COMPANY:
Justin Cochrane, Chief Executive Officer
Tel: 647.846.7765
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www.carbonstreaming.com

Investor Relations
Andrea Cheung, VP, Investor Relations
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Media
Amy Chambers, Director, Marketing, Communications & Sustainability
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Passage would bring affordable clean energy solutions to under-resourced communities

BETHESDA, Md.--(BUSINESS WIRE)--#cdfi--Calvert Impact Capital applauded the passage today of the Inflation Reduction Act of 2022. The bill is expected to be signed into law imminently and includes significant funding that can be used to create a national green bank with a mandate to invest–both directly and indirectly through local green banks and other community based financial institutions–in energy and emission reducing projects.

Jenn Pryce, President and CEO, said:

“The provision for a Greenhouse Gas Reduction Fund (GGRF) in the recently passed Inflation Reduction Act is a game changer for the communities we serve. It will create a centralized national green bank to make it possible to reach households, businesses and communities that have not benefited from the energy transition to date. For nearly 30 years, we have supported the growth of community-based organizations to address inequality and climate change and the GGRF will dramatically accelerate our collective work to ensure that every American has access to clean, reliable, and affordable energy so the U.S. can meet our global emission reduction goals.

This legislation is the start of an urgent process to ensure that every public dollar maximizes the economic and health benefits for communities while saving our planet. To do this effectively will require a centralized entity supported by a broad coalition of trusted partners built to provide affordable financial products and services to communities historically left behind. Like we have done throughout the pandemic, we look forward to working with partners to translate this legislation into direct, positive impact on people’s lives.”

Among its major features, the Inflation Reduction Act includes $20 billion that can be used to create a single non-profit national clean power financing institution that will make investments with private sector partners to reduce greenhouse gas emissions, benefitting all consumers, with an explicit focus on low-income and under-resourced communities. In addition, state, local, and tribal governments can obtain $7 billion of capital for their own financial institutions dedicated to the same purposes.

Calvert Impact Capital has joined a broad coalition that has been supporting a national green bank given its promise to drive capital to projects for under-resourced and low- to moderate-income communities. Beth Bafford, Vice President of Strategy, added “The potential to quickly and effectively bring green investments to communities across the country by leveraging the existing community finance infrastructure is exciting. In our 30 years of supporting these lenders, we know they deliver for American communities and wholeheartedly believe that they will play a critical role in supporting an equitable energy transition.”

About Calvert Impact Capital

Calvert Impact Capital is a global nonprofit investment firm that helps all types of investors and financial professionals invest in solutions that people and our planet need. During our 27-year history, we have mobilized over $3 billion of investor capital. Calvert Impact Capital also offers loan syndications and capital advisory services, where we consult on and structure loans for institutional and accredited lenders seeking environmental and social impact. To date, we have arranged more than $750 million of capital for private impact transactions. More at calvertimpactcapital.org.

Calvert Impact Capital, Inc., a 501(c)(3) nonprofit, offers the Community Investment Note, which is subject to certain risks, is not a mutual fund, is not FDIC or SIPC insured, and should not be confused with any Calvert Research and Management-sponsored investment product. Any decision to invest in these securities through this site should only be made after reading the prospectus or by calling 800.248.0337.

Jody Lowe
414-322-9311

And Participation in Investor Conferences

HOUSTON--(BUSINESS WIRE)--Today Western Midstream Partners, LP (NYSE: WES) (“WES” or the “Partnership”) announced that before the market open on Monday, August 15, 2022, it will make available on its website at www.westernmidstream.com a post-earnings interview with Kristen Shults, Senior Vice President and Chief Financial Officer and Kamal Govender, Director of ESG, to provide additional insights related to second-quarter results.

On August 16 and 17, 2022, Michael Ure, President and Chief Executive Officer, Ms. Shults, and Daniel Jenkins, Director of Investor Relations, will participate in one-on-one and group sessions at the Citi One-on-One Midstream/Energy Infrastructure Conference. Additionally, an updated investor presentation will be provided in the events and presentations section of the partnership’s website.

On September 7, 2022, Ms. Shults and Mr. Jenkins will participate in one-on-one and group sessions at the Barclays CEO Energy-Power Conference.

On September 14, 2022, Ms. Shults and Mr. Jenkins will participate in one-on-one and group sessions virtually at the NYSE Energy & Utilities Investor Access Day.

On September 15, 2022, Ms. Shults and Mr. Jenkins will participate in one-on-one and group sessions at the Pickering Energy Partners Technology, Energy, and Mobility Fest. In addition, Ms. Shults will participate in an investor discussion panel.

On September 30, 2022, Ms. Shults and Mr. Jenkins will participate in one-on-one and group sessions virtually at the Wolfe Research Utilities, Midstream, and Clean Energy Conference.

ABOUT WESTERN MIDSTREAM

Western Midstream Partners, LP (“WES”) is a Delaware master limited partnership formed to acquire, own, develop, and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas, and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, NGLs, and crude oil; and gathering and disposing of produced water for its customers. In addition, in its capacity as a processor of natural gas, WES also buys and sells natural gas, NGLs, and condensate on behalf of itself and as an agent for its customers under certain of its contracts.

For more information about Western Midstream Partners, LP and Western Midstream Flash Feed updates, please visit www.westernmidstream.com.

WESTERN MIDSTREAM CONTACTS

Daniel Jenkins
Director, Investor Relations
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832.636.1009

Shelby Keltner
Manager, Investor Relations
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832.636.1009

WASHINGTON--(BUSINESS WIRE)--The Carbon Utilization Research Council’s (CURC) Executive Director Shannon Angielski provided the following statement on the Inflation Reduction Act of 2022:

“The Carbon Utilization Research Council (CURC) applauds the passage of the Inflation Reduction Act of 2022, which includes significant enhancements to the 45Q tax credit that I am certain will lead to unprecedented private sector investment in the carbon management infrastructure of the future. The inclusion of these improvements is a testament to the leadership role that CURC members have taken in implementing CCS technologies and a product of the carefully cultivated relationships our members have with Members of Congress, which has led to continual progress on the 45Q tax credit program since it was first enacted in 2008.

Our members are appreciative of the opportunity to work collaboratively with Members of Congress and their staff to identify the needed changes for 45Q to be an effective tool to deploy CCUS projects. Together with our labor members and partners, CURC is encouraged that bill will incentivize the creation of a domestic clean energy job industry that will be critical for a domestic CCUS industry to grow.

The 45Q enhancements will enable CCUS project deployment with the increased credit values for 45Q and a direct payment mechanism that will make project financing accessible. The IRA changes will ensure lower concentration and more costly CCUS projects will be able to significantly reduce CO₂ emissions and avoid the need for tax equity markets to get the necessary capital investments in CCUS infrastructure.

CURC thanks the bipartisan group of Members that introduced the bill that was included in the IRA, as well as Senators Manchin and Smith for their critical leadership on 45Q enhancements.”

Jenna Peth
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CAMPBELL, Calif.--(BUSINESS WIRE)--ChargePoint Holdings, Inc. (NYSE: CHPT), a leading electric vehicle charging network, today announced it will release financial results for the second quarter ended July 31, 2022, after market close on August 30, 2022. ChargePoint management will host a conference call to review its financial results at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) on the same day.

A live webcast of the conference call will be accessible from the “Events and Presentations” section of ChargePoint’s investor relations website (investors.chargepoint.com) on August 30, 2022. A replay will be available after the conclusion of the webcast and archived for one year. A copy of the press release with the financial results will also be available on ChargePoint’s investor relations website prior to the commencement of the webcast.

About ChargePoint

ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds of thousands of places to charge in North America and Europe. To date, more than 113 million charging sessions have been delivered, with drivers plugging into the ChargePoint network on average every second. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the ChargePoint North American European press offices or Investor Relations.

CHPT-IR

ChargePoint Holdings, Inc.

Press
AJ Gosselin
Director, Corporate Communications
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Investor Relations
Patrick Hamer
VP, Capital Markets and Investor Relations
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MISSISSAUGA, Ontario--(BUSINESS WIRE)--#PVsolar--Silfab Solar, North America’s leading provider of high-efficiency and durable PV solar modules, applauds the Biden administration and U.S Congress for enacting the Inflation Reduction Act, along with passage of the Solar Energy Manufacturing in America Act (SEMA).

Silfab’s relentless commitment to US manufacturing and the solar industry is reflected in the continued expansion of our two (2) technologically advanced US solar manufacturing facilities.

“Solar represents the most effective means to achieve clean energy goals in the United States. At Silfab, we applaud the passage of the Inflation Reduction Act, SEMA and the efforts by the Biden Administration to further invest in the solar industry,” said Silfab Chief Executive Officer Paolo Maccario. “Silfab Solar will continue our US manufacturing expansions, incorporating the most-advanced solar technologies and meeting the industry and customer demand for leading edge solar products designed and manufactured in the United States.”

The Inflation Reduction Act and SEMA will mean more U.S. solar jobs. With over a decade of US operations, Silfab already has the most active, dedicated U.S. labor force experienced at sourcing materials, engineering products, designing equipment and manufacturing high-quality solar panels. As the most experienced North American solar manufacturing company, we look forward to further helping our customers and partners benefit from our experience now aided by this new legislation.

www.silfabsolar.com

Geoff Atkins
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +1-905-255-2501 Ext. 737

HOUSTON--(BUSINESS WIRE)--$PSX #Seminoe--Phillips 66 (NYSE: PSX) announces that its subsidiary, Phillips 66 Carrier, LLC, is launching a binding expansion open season on its Seminoe Pipeline system to solicit shipper commitments for services from Billings, Montana, to Casper, Wyoming. The expansion open season will provide an opportunity for interested shippers to secure long-term refined product transportation with Seminoe Pipeline under binding transportation services agreements.

The expansion includes new takeaway capacity of 5,800 barrels per day on Seminoe Pipeline with origination stations in Billings to destination at Casper. The higher capacity is expected to be available during the second quarter of 2023.

The expansion open season will commence at 8 a.m. CDT on August 12, 2022. Prior to participating in the open season, interested parties must execute a confidentiality agreement to govern the receipt of the open season documentation. For a form of confidentiality agreement and additional information regarding the expansion of Seminoe Pipeline, please contact Tarek Saad at This email address is being protected from spambots. You need JavaScript enabled to view it..

About Phillips 66

Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.

Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Bernardo Fallas (media)
855-841-2368
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OAKLAND, Calif.--(BUSINESS WIRE)--Today, Pacific Gas and Electric Company (PG&E) announced an expansion of its remote grid program, including progressing four new Standalone Power Systems in 2022 and deploying a standardized monitoring and control platform that will help it scale the program to more than 30 systems by 2026.

A Standalone Power System (or remote grid) is expected to provide the same or better levels of electric reliability using locally sited solar, batteries, and back-up generators as a permanent alternative to traditional energy infrastructure such as poles and powerlines. Remote grids meet customer needs with a significantly lower risk of fire at lower lifetime costs.

Collectively, the following four new Standalone Power Systems allow PG&E to remove 4.5 miles of overhead distribution electric lines while enabling five customers to continue receiving safe, reliable, affordable, low-carbon, and wireless energy:

• Two wireless systems near Paskenta, Calif., in Tehama County, allowing PG&E to remove 2 miles of overhead power lines, each serving one customer meter;
• One wireless system near Mariposa, Calif., in Mariposa County, allowing PG&E to remove 1 mile of overhead power lines, serving two customer meters; and
• One wireless system near Ahwahnee, Calif., in Mariposa County, allowing PG&E to remove 1.5 miles of overhead power lines, serving two customer meters

PG&E is working with Potelco, a Quanta West, LLC Company to build and construct the four new systems, which are expected to begin operations by early 2023 following construction and successful testing and commissioning.

PG&E also recently selected Richmond, Calif.-based New Sun Road’s Stellar Microgrid OS™ as the remote monitoring and control platform for its growing fleet of hybrid renewable Standalone Power Systems.

The Stellar platform enables PG&E to monitor and control remote grids via satellite and cellular connectivity, with capabilities for remote performance management, safety diagnostics, alarms, reporting, and automated refueling notifications. A Standalone Power System also features an integrated fire suppression system to protect the hardware and facility.

“PG&E has identified many locations where remote grids may be the most effective way of reducing wildfire risk and improving electric reliability in the communities we're privileged to serve. As we expand the use of Standalone Power Systems, we now have a standardized platform for our operations, engineering, and asset management teams that will help us understand and manage real-time and historic system performance,” said Jason Glickman, PG&E's Executive Vice President, Engineering, Planning and Strategy.

The four new systems under development this year will generally be modeled on the successful deployment of PG&E’s first operational remote grid in Briceburg, Calif. (Mariposa County), which was commissioned in June 2021 and is also managed by New Sun Road’s Stellar monitoring and control platform.

“New Sun Road’s Stellar platform will manage PG&E’s fleet of standalone systems, ensuring maximized solar usage and high reliability,” said Jalel Sager, New Sun Road CEO and co-founder. “Stellar remotely operates systems in over 23 countries, and we’re proud that our technology will now enable more resilient clean energy in California.”

Remote Systems Offer a New Grid Architecture

Throughout PG&E's 70,000-square-mile service area, pockets of remote customers are served via long electric distribution lines that in many cases traverse through high fire-risk areas. Replacing these distribution lines with a reliable and low-carbon local energy source is an innovative option that has now become a feasible and, in many cases, preferred option for serving customers at the edges of the grid.

PG&E is one of the first energy companies in North America to deploy Standalone Power Systems as an alternative customer service offering to electricity provided through traditional grid infrastructure. Remote grids operate independently from the larger electric grid that delivers energy throughout the state, and they allow PG&E to remove overhead powerlines, significantly reducing wildfire risk and service interruptions in high fire-threat areas.

In Briceburg, for example, PG&E opted not to rebuild approximately 1.4 miles of distribution line that was destroyed in the 2019 Briceburg fire, and instead deployed the localized stand-alone power system. This hybrid renewable option reliably powers five customers without the need to rebuild the overhead line, and the system remained operational throughout the recent Oak Fire even as powerlines serving customers near the fire were de-energized for safety.

Potelco and New Sun Road join a growing ecosystem of microgrid vendors, including Grass Valley, Calif.-based BoxPower—which engineered the Briceburg remote grid—working alongside PG&E to design, deploy and scale standalone power systems as a service offering.

PG&E has identified multiple potential locations for additional remote grids, with sites currently being assessed in high fire-threat areas of Lake, Sonoma, and Tulare counties, all of which would be managed on New Sun Road’s Stellar platform.

For more information and to watch a video about PG&E’s Remote Grid program, visit pge.com/remotegrids.

About PG&E

PG&E, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

About New Sun Road

New Sun Road is on a mission to accelerate the deployment of renewable energy systems with its technology and seeks to enable energy and Internet access for underserved and remote populations. Our cloud-based “Stellar” suite offers robust remote monitoring and control for over 700 microgrids in over 23 countries. We use IoT and machine learning to reduce operating costs, increase control and visibility, and improve performance.

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MUNICH--(BUSINESS WIRE)--#airtowater--Today, Aquahara Technology GmbH from Gilching near Munich, Germany, announced the initial test results of its pilot system using a liquid absorber and solar thermal energy to extract drinking water from air humidity near Marrakech in Morocco. With temperatures around 40 °C and air humidity as low as 25 % during the day, the system can produce 200 liters (50 gallons) of water per day, using 100 square meters (around 1000 square ft) of solar collectors. This means an Aquahara system offers an alternative water supply for millions of house owners who face the challenge of private water wells running dry.

Aquahara points out that almost all “water-from-air” devices on the market today are just classical dehumidifiers that cool and condense the air, wasting a lot of electricity. If the electricity is taken from the grid, which is still mostly fossil fuel based, such devices are very harmful to the environment: they effectively burn 1 liter of fossil fuel to produce 5 liters of water. If they are operated with solar panels, their low efficiency requires 200 square meters of solar panels (around 2000 square feet), double the area needed for an Aquahara system. If air humidity is below 40 %, they practically stop working, making them useless in dry climate regions.

Aquahara’s engineers have developed a system with higher efficiency. They use water with a very high concentration of a special salt, potassium acetate, a food additive. The salt ions attract water molecules out of the air. When the air is very dry, they run the absorption process at night, when it is slightly cooler, and store the water in the salt solution tanks. During the day, the system uses solar thermal energy to run the salt solution through a distillation process to extract pure water.

With its next-generation system, Aquahara hopes to reach water costs of 40 USD per 1000 gallons, still much higher than seawater desalination, but cheaper than any competitors and cheaper than water truck delivery in regions that cannot be served by seawater desalination plants.

About Aquahara Technology GmbH

Aquahara Technology GmbH was founded in 2017. With its patent-protected solar atmospheric water generator using a liquid desiccant, it is challenging major players like Source Global PBC, backed by BlackRock and Breakthrough Energy Ventures, who are using solid instead of liquid desiccants. Liquids have the intrinsic technical advantages of better heat transfer and heat recovery, which means they will be essential in further increasing the efficiency and reducing the cost of solar atmospheric water generators.

For more information, visit https://www.aquahara.com

Aquahara Technology GmbH
Philippe Verplancke
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Tel. +49 170 9466402