HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) (“Murphy” or the “Company”) announced today the early tender results of its previously announced series of tender offers (the “Tender Offers”) to purchase for cash certain of its outstanding series of senior notes listed in the table below (collectively, the “Notes”) for an aggregate purchase price, excluding accrued and unpaid interest, of up to $200,000,000 (the “Maximum Aggregate Cap”). The Tender Offers are being made pursuant to the terms and conditions set forth in the Offer to Purchase, dated August 1, 2022 (the “Offer to Purchase”). The Company refers investors to the Offer to Purchase for the complete terms and conditions of the Tender Offers.

As of 5:00 p.m., New York City time, on August 12, 2022 (such date and time, the “Early Tender Date”), according to information provided to Global Bondholder Services Corporation, the tender and information agent for the Tender Offers, the aggregate principal amount of each series of Notes listed in the table below has been validly tendered and not validly withdrawn in each Tender Offer. Withdrawal rights for the Notes expired at 5:00 p.m., New York City time, on the Early Tender Date.

All conditions were satisfied or waived by the Company at the Early Tender Date. The Company has elected to exercise its right to make payment for Notes that were validly tendered at or prior to the Early Tender Date and that are accepted for purchase on August 16, 2022 (the “Early Settlement Date”). The Company intends to fund the purchase of validly tendered and accepted Notes on the Early Settlement Date with available cash on hand.

As the aggregate purchase price of Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date exceeded the Maximum Aggregate Cap, no Notes tendered after the Early Tender Date will be accepted for purchase. As described in the Offer to Purchase, Notes validly tendered and not validly withdrawn on or prior to the Early Tender Date will be accepted based on the acceptance priority levels, and with respect to the 2025 Notes, the 2025 Maximum SubCap, noted in the table above.

As the aggregate principal amount of 2025 Notes validly tendered and not validly withdrawn exceeds the 2025 Maximum SubCap, the 2025 Notes will be accepted on a pro rata basis and will be subject to a proration factor of approximately 61.6%. As the aggregate purchase price of the 2025 Notes and the 6.375% Senior Notes due 2028 (the “2028 Notes”) validly tendered and not validly withdrawn exceeds the Maximum Aggregate Cap, no validly tendered 5.875% Senior Notes due 2027 will be accepted for purchase, and the 2028 Notes will be accepted on a pro rata basis and will be subject to a proration factor of approximately 93.3%. Notes tendered and not purchased on the Early Settlement Date will be returned to holders promptly after the Early Settlement Date. The consideration to be paid for the Notes validly tendered and not validly withdrawn per $1,000 principal amount of such Notes validly tendered and accepted for purchase pursuant to the applicable Tender Offer is the amount set forth in the table above under the heading “Total Consideration.” The amounts set forth in the table above under “Total Consideration” include an early tender premium of $50 per $1,000 principal amount of Notes accepted for purchase (the “Early Tender Premium”). Each holder who validly tendered and did not validly withdraw its Notes at or prior to the Early Tender Date and whose Notes are accepted for purchase will be entitled to receive the applicable “Total Consideration” set forth in the table above under the heading “Total Consideration,” which includes the Early Tender Premium. All holders of Notes accepted for purchase will also receive accrued interest from, and including, the most recent applicable interest payment date preceding the Early Settlement Date to, but not including, the Early Settlement Date, if and when such Notes are accepted for payment.

INFORMATION RELATING TO THE TENDER OFFERS

The complete terms and conditions of the Tender Offers are set forth in the Offer to Purchase. Investors with questions regarding the terms and conditions of the Tender Offers may contact J.P. Morgan Securities LLC at (866) 834-4666 (toll-free) or (212) 834-4087 (collect).

Global Bondholder Services Corporation is the tender and information agent for the Tender Offers. Any questions regarding procedures for tendering Notes or request for copies of the Offer to Purchase should be directed to Global Bondholder Services Corporation by any of the following means: by telephone at (855) 654-2014 (toll-free) or (212) 430-3774 (collect); by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; or by internet at the following web address: https://www.gbsc-usa.com/MUR/.

This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders with respect to, the Notes. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The Tender Offers are being made solely pursuant to the Offer to Purchase made available to holders of the Notes. None of the Company or its affiliates, their respective boards of directors, the dealer manager, the tender and information agent or the trustee with respect to any series of Notes is making any recommendation as to whether or not holders should tender or refrain from tendering all or any portion of their Notes in response to the tender offers. Holders are urged to evaluate carefully all information in the Offer to Purchase, consult their own investment and tax advisors and make their own decisions whether to tender Notes in the Tender Offers, and, if so, the principal amount of Notes to tender.

ABOUT MURPHY OIL CORPORATION

As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the company’s future operating results or activities and returns or the company's ability and decisions to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other ESG (environmental/social/governance) matters, or pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; adverse developments in the U.S. or global capital markets, credit markets or economies in general; and our ability to consummate the Tender Offers on the anticipated terms, if at all. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.

Investor Contacts:
Kelly Whitley, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9107
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Energy Vault will supply a 100 MW (200 MWh) battery energy storage system at a Jupiter Power Facility near Fort Stockton, Texas, which will provide energy and ancillary services to ERCOT.

Energy Vault will additionally construct and commission a 10 MW (20 MWh) battery energy storage system for Jupiter Power in Carpinteria, California, which will participate in the CAISO Resource Adequacy program and provide resiliency to California.

The Jupiter Power battery energy storage systems will utilize Energy Vault Solutions’ (EVS) proprietary system design and EVS’ Energy Management Software which are designed for optimal grid resiliency and economic energy dispatch regardless of the underlying storage technology.

LUGANO, Switzerland & WESTLAKE VILLAGE, Calif. & AUSTIN, Texas--(BUSINESS WIRE)--$NRGV--Energy Vault Holdings Inc. (NYSE: NRGV) ("Energy Vault" or the “Company”), a leader in sustainable, grid-scale energy storage solutions, and Jupiter Power (“Jupiter”), a leading battery energy storage developer and owner/operator of utility-scale battery energy storage projects in the United States, today announced the signing of two contracts whereby Energy Vault will supply equipment, engineering, procurement, construction, balance of plant services and the energy management software for two of Jupiter’s battery energy storage projects.

The projects include a 100 MW (200 MWh) battery energy storage system near Fort Stockton, Texas, which will provide energy and ancillary services to ERCOT, and a 10 MW (20 MWh) system in Carpinteria, California, to provide grid services through participation in the CAISO Resource Adequacy program as well as energy resiliency in Southern California. The projects will provide critically needed dispatchable capacity to these electricity markets and are expected to be completed in 2023.

The systems will utilize Energy Vault Solutions’ (EVS) proprietary integration platform and powered by EVS’ innovative energy management software platform, which started development nine months ago in November 2021, as previously announced. EVS leverages advanced software architecture and optimization algorithms and enables the integration and orchestration of multiple energy assets under a multitude of use cases.

"With today’s inaugural EVS-enabled battery energy storage projects announcement supporting a market leader in storage infrastructure and analytics like Jupiter, we are delivering on our comprehensive energy storage solutions strategy introduced just nine months ago,” said Marco Terruzzin, Chief Commercial Officer, Energy Vault. “We are seeing strong demand for our EVS-enabled energy storage solutions on a global basis due to the unique ability of our platform to integrate and deliver both short and long duration (EVx) energy storage technologies.”

“Jupiter is pleased to be working with Energy Vault to expand our existing battery energy storage portfolio with these two new projects,” said Michael Geier, Chief Technology Officer of Jupiter Power. “As the largest developer and operator of battery energy storage projects on the ERCOT grid, we see a strong need to continue to execute innovative storage solutions to help relieve grid strain. We are also excited to be building our first project in California, where grid conditions continue to demonstrate a strong need for additional battery energy storage capacity.”

Jupiter currently has 654 MWh of battery energy storage projects in operations or commissioning in Texas and more than 11 GW of additional projects in development in several target markets from California to Maine. Jupiter’s projects are critical to decarbonizing the U.S. electricity grid by providing non-emitting generation to support and firm the penetration of renewable electricity resources, namely solar and wind, while increasing grid resiliency and reliability.

About Energy Vault

Energy Vault develops and deploys sustainable energy storage solutions designed to transform the world’s approach to utility-scale energy storage in realizing decarbonization while maintaining grid resiliency. The company’s proprietary gravity-based energy storage technology, battery storage technology, and energy storage management and integration platform are intended to help utilities, independent power producers and large industrial energy users significantly reduce their levelized cost of energy while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial re-use, Energy Vault is facilitating the shift to a circular economy while accelerating the clean energy transition for its customers. For additional information, please visit: www.energyvault.com.

About Jupiter Power

Jupiter is a leading battery energy storage infrastructure platform with deep trading, analytics, development, finance, operations, and construction capabilities and unparalleled intellectual property in dispatch optimization. Jupiter is backed by EnCap Investments L.P., Yorktown Partners and Mercuria Energy, and has offices in Austin and Houston, Texas, and Chicago, Illinois. Jupiter has a portfolio of utility-scale battery energy storage projects operating or in construction in the U.S., with a pipeline of over 11,000MW in active development. For more information on Jupiter Power, please visit our Twitter, LinkedIn, or Facebook pages or visit www.jupiterpower.io.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding Energy Vault’s future expansion, deployments and capabilities. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: risks related to the deployment of Energy Vault’s energy management software the projects announced in this press release, risks related to Energy Vault’s ability to supply equipment, engineering, procurement, construction and balance of plant services for the projects announced in this press release, unforeseen delays in the projects announced in this press release, whether these projects will be constructed on time or whether they will operate as planned, developments and changes in the general market, the continuing impact of COVID-19, political, economic, and business conditions. Additional risks and uncertainties that could affect our financial results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, filed with the SEC on August 8, 2022, which is available on our website at investors.energyvault.com and on the SEC's website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.

Energy Vault

Investors
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Media
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Jupiter Power

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HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)--Civeo Corporation (NYSE:CVEO) (“Civeo” or the “Company”), a leading provider of hospitality services to the natural resources sector, today announced that it has agreed to repurchase approximately 375 thousand Civeo common shares, representing 2.6% of the fully-diluted common shares outstanding, from a shareholder, for approximately $10.7 million.

“Today’s announcement reflects our confidence in Civeo’s business outlook, and this transaction provides an opportunity to deploy our free cash flow to acquire shares of the Company at an attractive valuation,” said Bradley Dodson, President and CEO of Civeo.

About Civeo

Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services. Civeo currently operates a total of 27 lodges and villages in Canada, Australia and the U.S., with an aggregate of over 28,000 rooms. Civeo is publicly traded under the symbol CVEO on the New York Stock Exchange. For more information, please visit Civeo's website at www.civeo.com.

Forward Looking Statements

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that do not state historical facts and are, therefore, inherently subject to risks and uncertainties. The forward-looking statements herein include the statements regarding Civeo’s business outlook and free cash flow are based on then current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Such risks and uncertainties include, among other things, risks associated with global health concerns and pandemics, including the COVID-19 pandemic, any increases in or severity of COVID-19 cases (including due to existing or new variants) and the risk that room occupancy may decline if our customers are limited or restricted in the availability of personnel who may become ill or be subjected to quarantine, risks associated with the general nature of the accommodations industry, risks associated with the level of supply and demand for oil, coal, iron ore and other minerals, including the level of activity, spending and developments in the Canadian oil sands, the level of demand for coal and other natural resources from, and investments and opportunities in, Australia, and fluctuations or sharp declines in the current and future prices of oil, natural gas, coal, iron ore and other minerals, risks associated with failure by our customers to reach positive final investment decisions on, or otherwise not complete, projects with respect to which we have been awarded contracts, which may cause those customers to terminate or postpone contracts, risks associated with currency exchange rates, risks associated with the company’s ability to integrate acquisitions, risks associated with labor shortages, risks associated with the development of new projects, including whether such projects will continue in the future, risks associated with the trading price of the company’s common shares, availability and cost of capital, risks associated with general global economic conditions, global weather conditions, natural disasters and security threats and changes to government and environmental regulations, including climate change, and other factors discussed in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Civeo’s most recent annual report on Form 10-K and other reports the company may file from time to time with the U.S. Securities and Exchange Commission. Each forward-looking statement contained herein speaks only as of the date of this release. Except as required by law, Civeo expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.

Regan Nielsen
Civeo Corporation
Senior Director, Corporate Development & Investor Relations
713-510-2400

Contract to deliver more than 2 million MMBtu per year of RNG with deliveries expected to commence in October 2023

HOUSTON--(BUSINESS WIRE)--Archaea Energy Inc. (“Archaea,” “the Company,” or “we”) (NYSE: LFG), an industry-leading renewable natural gas (“RNG”) company, today announced that it is expanding its commercial partnership with Énergir L.P. (“Énergir”) by entering into a new long-term RNG purchase and sale agreement. This is the second long-term commercial agreement between Archaea and Énergir, the largest natural gas distribution company in Quebec.

Under the agreement, which is subject to regulatory approval by the Quebec Régie de l'énergie, Énergir expects to purchase 2.15 million gigajoules (approximately 2.04 million MMBtu) of RNG generated by Archaea annually from its portfolio of RNG production facilities for a fixed fee for a period of 20 years. Subject to regulatory approval, the agreement is expected to commence in October 2023. The RNG produced by Archaea for this expanded long-term partnership is expected to be a key contributor towards Énergir’s interim target of delivering 2% of its total annual natural gas volumes using RNG by 2023, with a longer-term target of 5% by 2025.

“We are excited to extend and expand our multi-decade partnership with Énergir as a result of this second long-term agreement,” said Brian McCarthy, Archaea’s Co-founder and Chief Financial Officer. “The team at Énergir has been tremendous to work with, and from the top down the organization is focused on executing on its mission of decarbonization. We continue to see natural gas utilities, such as Énergir, as first-movers in the voluntary RNG market who are looking to RNG as a primary method of decarbonization in response to regulatory and existential mandates. We are proud to be one of the few RNG producers capable of offering tailored long-term, fixed-price agreements that can scale with the growing demands of our customers, thereby giving our RNG can a growing impact as a sustainable, multi-decade decarbonization solution. This growth will be enabled by our extensive, high-quality RNG development backlog, including projects related to our Lightning Renewables joint venture with Republic Services and the acquisition of INGENCO, which successfully closed in July 2022.”

“We are thrilled to pursue our relationship with Archaea, a proven RNG producer with an innovative-driven approach,” said Renault-François Lortie, Vice President, Customers and Gas Supply at Energir. “If this agreement is approved by our regulatory authority, it will represent an important addition to our RNG supplies target. It will inevitably strengthen the development of the RNG industry in Quebec, as it will allow a greater number of customers who are concerned about reducing their carbon footprint to benefit from renewable energy at a competitive cost. Once materialized, these additional volumes in our network will help meet our goal of distributing 5% RNG by 2025 and at least 10% by 2030 and therefore, contribute greatly the reduction of Quebec’s GHG emissions.”

ABOUT ARCHAEA

Archaea Energy Inc. is one of the largest RNG producers in the U.S., with an industry-leading platform and expertise in developing, constructing, and operating RNG facilities to capture waste emissions and convert them into low carbon fuel. Archaea’s innovative, technology-driven approach is backed by significant gas processing expertise, enabling Archaea to deliver RNG projects that are expected to have higher uptime and efficiency, faster project timelines, and lower development costs. Archaea partners with landfill and farm owners to help them transform potential sources of emissions into RNG, transforming their facilities into renewable energy centers. Archaea’s differentiated commercial strategy is focused on long-term contracts that provide commercial partners a reliable, non-intermittent, sustainable decarbonizing solution to displace fossil fuels.

Additional information is available at www.archaeaenergy.com.

FORWARD-LOOKING STATEMENTS

This release contains certain statements that may include 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 do not relate strictly to historical or current facts are forward-looking and usually identified by the use of words such as “anticipate,” “estimate,” “could,” “would,” “should,” “will,” “may,” “forecast,” “approximate,” “expect,” “project,” “intend,” “plan,” “believe” and other similar words. Forward-looking statements may relate to expectations for future financial performance, business strategies or expectations for Archaea’s business. Forward looking statements are based on current expectations, estimates, projections, targets, opinions and/or beliefs of Archaea, and such statements involve known and unknown risks, uncertainties and other factors.

The risks and uncertainties that could cause those actual results to differ materially from those expressed or implied by these forward looking statements include, but are not limited to, general economic conditions and the possibility that Archaea may be adversely affected by general economic, business and/or competitive factors; and other risks and uncertainties indicated in Archaea’s Annual Report on Form 10-K for the year ended December 31, 2021 and Archaea’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, including those under “Risk Factors” therein, and other documents filed or to be filed by Archaea with the Securities and Exchange Commission.

Accordingly, forward-looking statements should not be relied upon as representing Archaea’s views as of any subsequent date. Archaea does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.

ARCHAEA

Megan Light
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346-439-7589

Blake Schreiber
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346-440-1627

– Company Allocated Over $356 Million in Green Bond Net Proceeds to Eligible Green Projects –

JERICHO, N.Y.--(BUSINESS WIRE)--Kimco Realty® (NYSE: KIM), North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, including mixed-use assets, today announced the publication of its second Green Bond Report, outlining the use of the net proceeds and the associated estimated environmental impact of the Company’s inaugural green bond, issued in July of 2020. Of the $493.7 million in net proceeds from the green bond issuance, $356.5 million, or over 72 percent, has been allocated to finance Eligible Green Projects, as defined by Kimco’s Green Bond Framework.

Per Kimco’s Green Bond Framework, Eligible Green Projects include Green Buildings, defined, in part, as the new development, maintenance, operation, and acquisition of buildings that have received LEED Silver certifications, or the acquisition of buildings with tenant spaces that have previously received an ENERGY STAR rating of 75 or higher. Kimco has used green bond proceeds to fund and/or acquire LEED Silver certified projects including The Witmer® residential tower at Pentagon Centre in Arlington, Virginia, the Array residential building at West Alex in Alexandria, Virginia, and an office building also at West Alex. Green bond proceeds were also allocated towards the acquisition of twelve ENERGY STAR Certified tenant spaces.

Additional Eligible Green Projects funded in the past year include energy efficiency projects at 123 properties, which have resulted in an estimated total GHG savings of 7200 MTCO2e (based on estimated emissions associated with usage one year after project completion compared to one year prior), and sustainable water and wastewater management projects at 45 properties, resulting in an estimated average water efficiency gain of more than 35 percent.

"Our green bond financing allows us to make investments that enhance the sustainability of our portfolio,” said Conor Flynn, Chief Executive Officer of Kimco Realty. "We believe that efforts to reduce our environmental footprint, while maximizing operational efficiency, will help to create long-term value for all of our stakeholders.”

Additional information on Kimco’s industry leading ESG initiatives and its publicly stated ESG goals can be found in the Company’s 2021 Corporate Responsibility Report.

About Kimco Realty®

Kimco Realty® (NYSE: KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, including mixed-use assets. The company’s portfolio is primarily concentrated in the first-ring suburbs of the top major metropolitan markets, including those in high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities, with a tenant mix focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Kimco Realty is also committed to leadership in environmental, social and governance (ESG) issues and is a recognized industry leader in these areas. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value enhancing redevelopment activities for more than 60 years. As of June 30, 2022, the company owned interests in 533 U.S. shopping centers and mixed-use assets comprising 92 million square feet of gross leasable space. For further information, please visit www.kimcorealty.com.

The company announces material information to its investors using the company’s investor relations website (investors.kimcorealty.com), SEC filings, press releases, public conference calls, and webcasts. The company also uses social media to communicate with its investors and the public, and the information the company posts on social media may be deemed material information. Therefore, the company encourages investors, the media, and others interested in the company to review the information that it posts on the social media channels, including Facebook (www.facebook.com/kimcorealty), Twitter (www.twitter.com/kimcorealty), YouTube (www.youtube.com/kimcorealty) and LinkedIn (www.linkedin.com/company/kimco-realty-corporation). The list of social media channels that the company uses may be updated on its investor relations website from time to time.

Safe Harbor Statement

This communication 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. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, are generally identifiable by use of the words “believe,” “expect,” “intend,” “commit,” “anticipate,” “estimate,” “project,” “will,” “target,” “forecast” or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which, in some cases, are beyond the Company’s control and could materially affect actual results, performances or achievements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to, (i) general adverse economic and local real estate conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iii) the reduction in the Company’s income in the event of multiple lease terminations by tenants or a failure of multiple tenants to occupy their premises in a shopping center, (iv) the availability of suitable acquisition, disposition, development and redevelopment opportunities, and risks related to acquisitions not performing in accordance with our expectations, (v) the Company’s ability to raise capital by selling its assets, (vi) increases in operating costs due to inflation and supply chain issues, (vii) risks related to future opportunities and plans for the combined company, including the uncertainty of expected future financial performance and results of the combined company following the merger between Kimco and Weingarten Realty Investors (the “Merger”), (viii) the possibility that, if the Company does not achieve the perceived benefits of the Merger as rapidly or to the extent anticipated by financial analysts or investors, the market price of the Company’s common stock could decline, (ix) changes in governmental laws and regulations, including but not limited to changes in data privacy, environmental (including climate change), safety and health laws, and management’s ability to estimate the impact of such changes, (x) valuation and risks related to the Company’s joint venture and preferred equity investments, (xi) valuation of marketable securities and other investments, including the shares of Albertsons Companies, Inc. common stock held by the Company, (xii) impairment charges, (xiii) pandemics or other health crises, such as coronavirus disease 2019 (“COVID-19”), (xiv) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms to the Company, (xv) the level and volatility of interest rates and management’s ability to estimate the impact thereof, (xvi) changes in the dividend policy for the Company’s common and preferred stock and the Company’s ability to pay dividends at current levels, (xvii) unanticipated changes in the Company’s intention or ability to prepay certain debt prior to maturity and/or hold certain securities until maturity, and (xviii) the other risks and uncertainties identified under Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the year-ended December 31, 2021. Accordingly, there is no assurance that the Company’s expectations will be realized. The Company disclaims any intention or obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. You are advised to refer to any further disclosures the Company makes in the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that the Company files with the Securities and Exchange Commission (“SEC”).

David F. Bujnicki
Senior Vice President, Investor Relations and Strategy
Kimco Realty Corporation
1-866-831-4297
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SAN FRANCISCO--(BUSINESS WIRE)--Stem (NYSE: STEM), a global leader in artificial intelligence (AI)-driven energy software and services, issued a statement today from Chief Executive Officer John Carrington on the signing of the Inflation Reduction Act (IRA) by President Biden expected in the coming days.

“At Stem and AlsoEnergy, we view the investments in clean energy within the Inflation Reduction Act (IRA) as transformational for our country, the energy industry, and our company as we continue to accelerate the clean energy transition,” said John Carrington, CEO of Stem. “For customers deploying energy storage and solar, the most significant parts of the bill are tax credits for clean electricity investment and production. We anticipate that these incentives will increase investment certainty and make adoption more affordable in existing and new energy markets.”

As part of IRA, the following incentives will be in place for 10 years and may be extended until power sector emissions fall by 75%.

• Standalone Storage Investment Tax Credit (ITC): New tax credit of 30% for stand-alone battery storage projects. Previously, tax credits were limited to storage projects that were attached to solar. IRA also provides additional credits when projects meet requirements such as domestic content, citing in “energy communities”, and prevailing wage and apprenticeship provisions.
• Solar Production Tax Credit (PTC): Extends the current solar PTC framework for facilities that begin construction prior to January 1, 2025, and sets requirements for additional qualifying credits.

To help developers, owners, and EPCs plan for IRA’s passage, Stem’s clean energy and policy experts are hosting a webinar, “What the Inflation Reduction Act Means for Your Clean Energy Project,” on Wednesday, August 17, 2022. Register here.

NOTICE: This content is preliminary and is provided for informational and planning purposes only regarding the potential passage of the Inflation Reduction Act. This does not constitute legal, tax, regulatory, policy, or other advice or guidance. The provisions in legislative bill text require further clarification and guidance by executive branch, regulatory, and other agencies.

About Stem

Stem (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena®, a world-class AI-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation, and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility, and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter. Stem is also a leader in solar asset management, bringing project developers, asset owners, and commercial customers an integrated solution for solar and energy storage management and optimization. For more information, visit www.stem.com.

Source: Stem, Inc.

Stem/AlsoEnergy Media Contacts
Suraya Akbarzad, Stem
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Jessica Fishman, AlsoEnergy
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Stem Investor Contacts
Ted Durbin, Stem
Marc Silverberg, ICR
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(847) 905-4400

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) announced today that it has commenced a consent solicitation (“Consent Solicitation”) with respect to proposed amendments to the indenture (the “Indenture”) governing the outstanding senior secured first lien notes due 2028 (the “Notes”) of the Company listed in the table below.

The purpose of the Consent Solicitation is to amend the Indenture to (i) implement a customary net income builder basket for Restricted Payments (as defined in the Indenture), increase the general basket for Restricted Payments from $100 million to $175 million and make other incremental changes to the Company’s Restricted Payments capacity and (ii) increase the general basket for Investments (as defined in the Indenture) from the greater of $100 million and 4.0% of total assets to the greater of $175 million and 6.5% of total assets, in each case as more fully described in the consent solicitation statement (collectively, the “Proposed Amendments”). The Proposed Amendments are intended to provide greater and more customary flexibility over time, while continuing to provide noteholders with ample collateral coverage. The Proposed Amendments would provide the Company customary financial flexibility during an industry upcycle, positioning it to maximize value for all stakeholders once the Company is generating meaningful free cash flow or should strategic opportunities arise.

Subject to receiving the consent of the holders of at least a majority of the aggregate principal amount of the Notes (the “Required Consents”) and satisfaction or waiver of all of the other conditions to the Consent Solicitation, each holder who validly delivers (and does not validly revoke) its consent prior to 5:00 p.m., New York City time, on August 19, 2022, unless extended by the Company in its sole discretion (such time and date, as it may be extended, the “Expiration Date”), will receive a cash payment for each $1,000 in aggregate principal amount of Notes for which such holder has consented (the “Consent Fee”). Any consenting holder will not be permitted to trade its Notes, unless such holder validly revokes its consent, between the time that it provides such consent and the Expiration Date. The aggregate Consent Fee will be $2,749,225, to be shared by all consenting holders who validly deliver consents to the Proposed Amendment before the Expiration Date (and do not validly revoke such consents). Specifically, the Consent Fee will be an amount, per $1,000 principal amount of Notes for which a holder validly delivers its consent prior to the Expiration Date (and does not validly revoke such consent), equal to the product of $5.00 multiplied by a fraction, the numerator of which is the aggregate principal amount of Notes outstanding as of the Expiration Date and the denominator of which is the aggregate principal amount of Notes for which the holders have validly delivered (and not validly revoked) consents prior to the Expiration Date. As a result, the Consent Fee for the Notes will range from $5.00 per $1,000 (if all holders consent) to approximately $10.00 per $1,000 (if holders of only a majority of the aggregate principal amount of the Notes consent). The Consent Fee will be paid by the Company promptly following the Expiration Date and the satisfaction or waiver of the other conditions.

The Proposed Amendments will be effected through a supplemental indenture with respect to the Notes, to be executed promptly after receipt of the Required Consents. Holders will not be able to revoke their consents after the supplemental indenture is executed, which may occur prior to the Expiration Date. The Proposed Amendments will not become operative and the Company will not benefit from the Proposed Amendments until the Consent Fee is paid with respect to each Note for which a Consent Fee is payable.

Beneficial owners who wish to participate in the consent solicitation must promptly instruct their brokers, dealers, custodians or other intermediaries to deliver a consent on their behalf to the tabulation agent in accordance with The Depository Trust Company’s Automated Tender Offer Program’s procedures, in advance of the Expiration Date as such brokers, dealers, custodians or other intermediaries will require an earlier deadline to receive their instructions.

Valaris in its sole discretion may terminate the Consent Solicitation without obligation at any time, whether or not the Required Consents have been received, and may waive any of the consent conditions in its sole discretion. Full details of the terms and conditions of the Consent Solicitation are included in the consent solicitation statement, dated August 15, 2022.

Valaris has engaged Deutsche Bank Securities Inc. to act as the sole solicitation agent and Global Bondholder Services Corporation to act as the information and tabulation agent in connection with the Consent Solicitation. Additional information concerning the terms and conditions of the Consent Solicitation may be obtained from Deutsche Bank Securities Inc. by calling (855) 287-1922 (toll-free) or (212) 250-7527 (collect). Requests for assistance in submitting consents or requests for additional copies of the consent solicitation statement and related documents should be directed to Global Bondholder Services Corporation by calling (212) 430-3774 (banks and brokers collect) or (855) 654-2015 (all others toll-free) or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

None of Valaris, its board of directors, its officers, the solicitation agent, the information agent or Wilmington Savings Fund Society, FSB, as trustee, or any of Valaris’ or their respective affiliates, makes any recommendation that holders consent or refrain from consenting to the Proposed Amendments, and no one has been authorized by any of them to make such a recommendation. Holders must make their own decision as to whether to consent to the Proposed Amendments.

No Offer or Solicitation

This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any Notes or any other securities. This press release is also not a solicitation of consents with respect to the Proposed Amendments or any securities. The solicitation of consents is not being made in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such solicitation under applicable state or foreign securities or “blue sky” laws.

Cautionary Statement Regarding Forward-Looking Statements

Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to: statements regarding (i) the Proposed Amendments and the execution of the supplemental indenture giving effect thereto and (ii) the expected payment of the Consent Fee. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “likely,” “plan,” “project,” “could,” “may,” “might,” “should,” “will,” and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management’s current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause the Company’s actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to the Company on the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Valaris Limited

Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.

Investor & Media Contact:
Tim Richardson
Director - Investor Relations
+1-713-979-4619

Company seeks to redefine solar energy market with high-density vertical solar structures

TORONTO--(BUSINESS WIRE)--$VSOL #NEOExchange--NEO is excited to welcome Three Sixty Solar Ltd. (“Three Sixty”), a B.C.-based solar energy company, as they go public on the NEO Exchange. Three Sixty begins trading today under the symbol NEO:VSOL.

On a mission to create a world powered by renewable resources, Three Sixty designs, builds, and installs patent-pending vertical solar tower structures with smaller footprints than conventional methods. Three Sixty Solar towers are designed to provide energy efficient solutions for small commercial projects through to large utility-scale solar farms.

“Three Sixty Solar is proud to bring solar to people and places where it could never be deployed before,” commented Brian Roth, CEO of Three Sixty Solar. “As the solar industry continues its rapid growth, Three Sixty is excited to be addressing one of the biggest challenges in the market – access to land. Three Sixty’s solar towers enable developers to save up to 90% of the space normally required to deploy solar technology, leading to new opportunities in a host of markets.”

Roth continued: “We elected to partner with NEO because it is Canada’s Tier 1 stock exchange for the innovation economy. The NEO Exchange provides increased investor confidence through greater visibility and liquidity which will enable the continued growth of Three Sixty.”

Investors can trade shares of NEO:VSOL through their usual investment channels, including discount brokerage platforms and full-service dealers.

“We’re at it again! It is an honour for NEO to serve as the listing exchange of choice for yet another innovative, solutions-oriented, and disruptive company in the clean energy space,” remarked Jos Schmitt, President of NEO and Senior Vice President of Global Listings for Cboe Global Markets. “Three Sixty is redefining the solar energy market, and today marks the beginning of an exciting new chapter as they become a publicly listed company. We look forward to serving as a catalyst for their next phase of growth and providing the many benefits of a Tier 1 stock exchange, including increased quality of trading, exposure to a wider pool of sophisticated investors, and of course, a seamless customer service experience.”

Three Sixty Solar joins almost 250 unique listings on the NEO Exchange, including some of the most innovative Canadian and international growth companies, and ETFs from Canada’s largest ETF issuers. NEO consistently facilitates between 10% and 15% of all volume traded in Canadian-listed companies and close to 20% of all volume traded in Canadian ETFs. Click here for a complete view of all NEO-listed securities.

About the NEO Exchange

The NEO Exchange is Canada’s Tier 1 stock exchange for the innovation economy, bringing together investors and capital raisers within a fair, liquid, efficient, and service-oriented environment. Fully operational since 2015 and acquired by Cboe Global Markets in 2022, NEO provides access to trading across all Canadian-listed securities on a level playing field. NEO lists companies and investment products seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.

Connect with NEO: Website | LinkedIn | Twitter | Instagram | Facebook

About Three Sixty Solar Ltd.

Three Sixty Solar Ltd. is an all-Canadian enterprise which focuses on solar equipment supply to the global market. The company’s premier product line is the patent pending SVS series commercial solar tower. Three Sixty Solar’s unique tower concept is a high density, clean energy solution that uses up to 90% less land space than conventional solar farms and can co-locate adjacent to homes, retail, agriculture, and industry, thus minimizing line loss and maximizing energy delivery in places where renewables have been difficult to install, until now.

Connect with Three Sixty: Website | LinkedIn | Twitter

NEO Media Contact:
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WHITE PLAINS, N.Y.--(BUSINESS WIRE)--OPAL Fuels Inc. (Nasdaq: OPAL), a vertically integrated producer and distributor of renewable natural gas (RNG), today announced the appointment of Gordon (Gord) McLennan as Vice President of Business Development, reporting to Dave Unger, Executive Vice President.

Gord will expand OPAL Fuels’ business development reach on the upstream side of the business. He has over 35 years of experience in domestic and international sales, revenue generation, project development, operations management, change management and leadership, both in small- to medium-sized enterprises as well as large publicly listed companies.

“We’re very pleased to have Gord join our team to help support and expand our significant growth goals,” said Unger. “His contacts throughout the industry and experience in closing transactions makes him a key asset to OPAL Fuels.”

Since 2014, Gord has served as VP Business Development at Iogen Corporation, where he has been responsible for developing and delivering new commercial opportunities for renewable natural gas and cellulosic ethanol initiatives. Gord received an MBA from the John Molson School of Business at Concordia University as well as a BSc and BA from Dalhousie University.

“I am honored to join OPAL Fuels, the leading RNG company in the industry,” said McLennan. “I look forward to helping drive further growth of the company as it continues to help customers and partners unlock value through its growing renewable fuels platform.”

About OPAL Fuels Inc.
OPAL Fuels Inc. (Nasdaq: OPAL), is a leading vertically integrated renewable fuels platform involved in the production and distribution of renewable natural gas (RNG) for the heavy-duty truck market. RNG is a proven low-carbon fuel that is rapidly decarbonizing the transportation industry now while also significantly reducing costs for fleet owners. OPAL Fuels captures harmful methane emissions at the source and recycles the trapped energy into a commercially viable, lower-cost alternative to diesel fuel. OPAL Fuels also develops, constructs, and services RNG and hydrogen fueling stations. As a producer and distributor of carbon-reducing fuel for heavy-duty truck fleets for more than a decade, the company delivers best-in-class, complete renewable solutions to customers and production partners. To learn more about OPAL Fuels and how it is leading the effort to capture North America’s harmful methane emissions and decarbonize the transportation industry, please visit www.opalfuels.com and follow the company on LinkedIn and Twitter at @OPALFuels.

Forward-Looking Statements
Certain statements in this communication may be considered forward-looking statements. Forward-looking statements are statements that are not historical facts and generally relate to future events or OPAL Fuels’ future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements, including the identification of a target business and a potential business combination or other such transaction are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by OPAL Fuels and its management, as the case may be, are inherently uncertain and subject to material change. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management’s control, including general economic conditions and other risks, uncertainties and factors set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the proxy statement/prospectus filed on June 27, 2022 in connection with our Registration Statement on Form S-4 (File No. 333-262583) and other filings with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. OPAL Fuels expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in OPAL Fuels’ expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.

Disclaimer
This communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities, nor shall there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

OPAL Fuels

Media
Jason Stewart
Senior Director Public Relations & Marketing
914-421-5336
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ICR, Inc.
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Investors
Todd Firestone
Vice President Investor Relations & Corporate Development
914-705-4001
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DUBLIN--(BUSINESS WIRE)--The "Electric Power Transmission and Distribution Equipment Market: Trends, Opportunities and Competitive Analysis" report has been added to ResearchAndMarkets.com's offering.

The global electric transmission and distribution equipment market is expected to reach an estimated $381 billion by 2027 with a CAGR of 5.4% from 2021 to 2027.

The future of the electric transmission and distribution equipment market looks promising with opportunities in the power utilities, residential, commercial, and industrial sectors. The major drivers for this market are increasing demand for electricity, new power generation capacity additions, and the expansion of transmission and distribution infrastructure.

Emerging trends, which have a direct impact on the dynamics of the electric transmission and distribution equipment industry, include growing implementation of smart grid technology, implementation of advanced metering infrastructure, and transition from conventional to modular switchgears.

In this market, utilities are the largest end use market, whereas the wire and cable segment is the largest market by product type.

The analyst forecasts that the wire and cable segment will remain the largest segment due to increasing electricity access to residential and commercial buildings. The transformer segment is expected to witness the highest growth over the forecast period, supported by government spending in electrical infrastructure and growth in housing demand in emerging markets.

Utilities are expected to remain the largest end use market due to the replacement and upgradation of existing infrastructure and increasing focus on renewable energy. The analyst predicts that the residential end use segment is likely to experience the highest growth over the forecast period, supported by growth in low voltage equipment, including cables and switchgears.

Asia Pacific is expected to remain the largest market by value; it is also expected to witness the highest growth over the forecast period because of growth in construction activities, increasing electric access, urbanization, and rapid industrialization.

Some of the electric T&D companies profiled in this report include ABB, Siemens AG, Mitsubishi Electric Corp., Schneider Electric, General Electric, Xian XD Switchgear Electric, and Crompton Greaves.

Features of the Electric Transmission and Distribution Equipment Market

• Market Size Estimates: Electric transmission and distribution equipment market size estimation in terms of value ($M)
• Trend And Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
• Segmentation Analysis: Electric transmission and distribution equipment market size by various segments, such as end use industry, product type, voltage, and region, in terms of value.
• Regional Analysis: Electric transmission and distribution equipment market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different end use, product type, voltage, and regions for the electric transmission and distribution equipment market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the electric transmission and distribution equipment market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

Key Topics Covered:

1. Executive Summary

2. Market Background and Classifications

2.1: Introduction, Background, and Classification

2.2: Supply Chain

2.3: Industry Drivers and Challenges

3. Market Trends and Forecast Analysis from 2016 to 2027

3.1: Macroeconomic Trends and Forecast

3.2: Global Electric Transmission and Distribution Equipment Market Trends and Forecast

3.3: Global Electric Transmission and Distribution Equipment Market by Product Type

3.3.1: Wire and Cable

3.3.1.1 Market by Voltage

3.3.1.2 Market by End Use

3.3.2: Switchgear

3.3.3: Transformer

3.3.3.1 Market by Type

3.3.3.1.1: Power Transformer Market

3.3.3.1.2: Distribution Transformer Market

3.3.3.1.3: Specialty Transformer Market

3.3.3.2: Market by Voltage

3.3.3.3: Market by End Use

3.3.4: Meter

3.3.4.1: Market by Type

3.3.4.2: Market by End Use

3.3.5: Insulator

3.3.6: Capacitor

3.4: Global Electric Transmission and Distribution Equipment Market by End Use

3.4.1: Utilities

3.4.2: Industrial

3.4.3: Residential

3.4.4: Commercial

3.5: Global Electric Transmission and Distribution Equipment Market by Voltage

3.5.1: Low Voltage

3.5.2: Medium Voltage

3.5.3: High Voltage

4. Market Trends and Forecast Analysis by Region

4.1: Global Electric Transmission and Distribution Equipment Market by Region

4.2: North American Electric Transmission and Distribution Equipment Market

4.2.1: North American Market by Product Type

4.2.2: United States Electric Transmission and Distribution Equipment Market

4.2.3: Canadian Electric Transmission and Distribution Equipment Market

4.2.4: Mexican Electric Transmission and Distribution Equipment Market

4.3: European Electric Transmission and Distribution Equipment Market

4.4: APAC Electric Transmission and Distribution Equipment Market

4.5: ROW Electric Transmission and Distribution Equipment Market

5. Competitor Analysis

5.1: Product Portfolio Analysis

5.2: Market Share Analysis

5.3: Operational Integration

5.4: Geographical Reach

5.5: Porter's Five Forces Analysis

6. Cost Structure Analysis

6.1: Raw Material Cost

6.2: Labor Cost

6.3: Energy Cost

6.4: SG&A

6.5: EBITDA Margin

7. Growth Opportunities and Strategic Analysis

7.1: Growth Opportunity Analysis

7.1.1: Growth Opportunities for the Global Electric Transmission and Distribution Equipment Market by Product Type

7.1.2: Growth Opportunities for the Global Electric Transmission and Distribution Equipment Market by Voltage

7.1.3: Growth Opportunities for the Global Electric Transmission and Distribution Equipment Market by End Use

7.1.4: Growth Opportunities for the Global Electric Transmission and Distribution Equipment Market by Region

7.2: Emerging Trends of the Global Electric Transmission and Distribution Equipment Market

7.3: Strategic Analysis

7.3.1: New Product Development

7.3.2: Capacity Expansion of the Global Electric Transmission and Distribution Equipment Market

7.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Electric Transmission and Distribution Equipment Market

7.3.4: Certification and Licensing

8. Company Profiles of Leading Players

8.1: ABB Ltd.

8.2: Bharat Heavy Electricals Ltd.

8.3: Crompton Greaves Ltd

8.4: Siemens AG

8.5: Alstom SA

8.6: Schneider Electric

8.7: General Electric

8.8: Havells India Ltd.

8.9: Mitsubishi Electric Corporation

8.10: EMCO Ltd.

8.11: TBEA

For more information about this report visit https://www.researchandmarkets.com/r/tfkh6b

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Second Quarter 2022 Financial Highlights

• Generated revenues of $24.8 million during second quarter 2022, an increase of 41% over second quarter 2021
• Second quarter 2022 GAAP net income of $21.6 million, as compared to second quarter 2021 net loss of $0.4 million driven by a $21.4 million non-cash gain from fair value remeasurement of both warrants and alignment shares
• Second quarter 2022 adjusted EBITDA* of $13.9 million, an increase of 37% over second quarter 2021
• Reaffirmed full year 2022 adjusted EBITDA* guidance of $57-63 million

Second Quarter Business Highlights

• Completed conversion of initial CBRE client engagement into long-term agreements for power
• Generated 137 megawatt hours of clean, locally sited electricity
• Avoided over 97,000 metric tons of CO2 equivalent when compared to utility power¹
• Issued inaugural Sustainability Report covering full-year of 2021, with commitment to issuing future reports annually

STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (NYSE: AMPS) (“Altus Power” or the “Company”), a premier commercial-scale clean electrification company, today announced its financial results for the second quarter of 2022.

“During second quarter we entered into a large number of commitments to supply clean energy with new customers stemming from our early collaboration with CBRE and continued collaboration with Blackstone and our channel partners," said Lars Norell, Co-CEO of Altus Power. "Converting on these opportunities is a crucial step in building our portfolio of long-term contracted assets we're focused on at Altus Power."

"Altus Power's execution on this growing scale of customer engagement brings into focus our vision for a national construction platform," added Gregg Felton, Co-CEO of Altus Power. "During the first six months of 2022 we've added significant talent to our team to help convert our pipeline into Altus Power operating projects.”

Second Quarter Financial Results

Operating revenues during the second quarter of 2022 totaled $24.8 million, compared to $17.6 million during the same period of 2021, an increase of 41%. The increase reflects the growth of megawatts installed over the past twelve months. Second quarter 2022 GAAP net income totaled $21.6 million, compared to net loss of $0.4 million for the same period last year. The increase in net income in the quarter was driven by the $21.4 million non-cash gain from remeasurement of both warrants and alignment shares. This benefit from remeasurement is non-cash and is driven by a lower Altus Power common share price between March 31, 2022, and June 30, 2022. Both the warrants and alignment shares are revalued quarterly according to our share price at the end of each quarter.

Adjusted EBITDA* during the second quarter of 2022 was $13.9 million, compared to $10.2 million for the second quarter of 2021, a 37% increase. The quarter over quarter growth in adjusted EBITDA* is primarily the result of increased revenue from additional solar energy facilities, partially offset by an increase in our general and administrative expenses. Adjusted EBITDA margin* during the second quarter of 2022 was 56%.

Balance Sheet and Liquidity

Altus Power ended the second quarter of 2022 with $295.1 million in unrestricted cash and cash equivalents, and $538.3 million of total debt. The Company expects to fund its operations using available cash, additional borrowings under debt facilities and third-party tax equity financing.

2022 Guidance

Altus Power reaffirms its full year 2022 adjusted EBITDA* guidance range of $57-63 million, as well as guidance for 2022 adjusted EBITDA margin* in the mid-50% range. Management focuses on adjusted EBITDA and adjusted EBITDA margin as key measures of profitable growth and approximation of cash flow generation.

Conference Call Information

The Altus Power management team will host a conference call to discuss its first quarter 2022 financial results on Monday, August 15, 2022, at 8:30 a.m. Eastern Time. The call can be accessed via a live webcast accessible on the Events & Presentations page in the Investor Relations section of Altus Power’s website at www.altuspower.com. An archive of the webcast will be available after the call on the Investor Relations section of Altus Power’s website as well.

About Altus Power, Inc.

Altus Power, based in Stamford, Connecticut, is a premier commercial-scale clean electrification company, serving commercial, industrial, public sector and community solar customers with an end-to-end solution. Altus Power originates, develops, owns and operates locally sited solar generation, energy storage, and EV charging infrastructure across 18 states from Vermont to Hawaii. Visit altuspower.com to learn more.

Use of Non-GAAP Financial Information

*Denotes Non-GAAP financial measure. We present our operating results in accordance with accounting principles generally accepted in the U.S. (“GAAP”). We believe certain financial measures, such as adjusted EBITDA and adjusted EBITDA margin provide users of our financial statements with supplemental information that may be useful in evaluating our business. The presentation of non-GAAP financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

We define adjusted EBITDA as net income (loss) plus net interest expense, depreciation, amortization and accretion expense, income tax expense, acquisition and entity formation costs, non-cash compensation expense, and excluding the effect of certain non-recurring items we do not consider to be indicative of our ongoing operating performance such as, but not limited to, gain on fair value remeasurement of contingent consideration, gain on disposal of property, plant and equipment, change in fair value of redeemable warrant liability, change in fair value of alignment shares, loss on extinguishment of debt, and other miscellaneous items of other income and expenses.

We define adjusted EBITDA margin as adjusted EBITDA divided by operating revenues.

Adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures that we use to measure our performance. We believe that investors and analysts also use adjusted EBITDA in evaluating our operating performance. This measurement is not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance. The GAAP measure most directly comparable to adjusted EBITDA is net income and to adjusted EBITDA margin is net income over operating revenues. The presentation of adjusted EBITDA and adjusted EBITDA margin should not be construed to suggest that our future results will be unaffected by non-cash or non-recurring items. In addition, our calculation of adjusted EBITDA and adjusted EBITDA margin are not necessarily comparable to adjusted EBITDA as calculated by other companies and investors and analysts should read carefully the components of our calculations of these non-GAAP financial measures.

We believe adjusted EBITDA is useful to management, investors and analysts in providing a measure of core financial performance adjusted to allow for comparisons of results of operations across reporting periods on a consistent basis. These adjustments are intended to exclude items that are not indicative of the ongoing operating performance of the business. Adjusted EBITDA is also used by our management for internal planning purposes, including our consolidated operating budget, and by our board of directors in setting performance-based compensation targets. Adjusted EBITDA should not be considered an alternative to but viewed in conjunction with GAAP results, as we believe it provides a more complete understanding of ongoing business performance and trends than GAAP measures alone. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP.

Altus Power does not provide GAAP financial measures on a forward-looking basis because the Company is unable to predict with reasonable certainty and without unreasonable effort, items such as acquisition and entity formation costs, gain on fair value remeasurement of contingent consideration, change in fair value of redeemable warrant liability, change in fair value of alignment shares. These items are uncertain, depend on various factors, and could be material to Altus Power’s results computed in accordance with GAAP.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as "believes," "expects," "intends," "aims", "may," “could,” "will," "should," "plans," “projects,” “forecasts,” “seeks,” “anticipates,” “goal,” “objective,” “target,” “estimate,” “future,” “outlook,” “vision,” or variations of such words or similar terminology that predict or indicate future events or trends or that are not statements of historical matters. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to Altus Power’s future prospects, developments and business strategies. These statements are based on Altus Power’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Altus Power’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the ability of Altus Power to maintain its listing on the New York Stock Exchange; (2) the ability to recognize the anticipated benefits of the recently completed business combination and related transactions, which may be affected by, among other things, competition, the ability of Altus Power to grow and manage growth profitably, maintain relationships with customers, business partners, suppliers and agents and retain its management and key employees; (3) changes in applicable laws or regulations; (4) the possibility that Altus Power may be adversely affected by other economic, business, regulatory and/or competitive factors; and (5) the impact of COVID-19, inflationary pressures, and supply chain issues on Altus Power’s business.

Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found under the heading “Risk Factors” in Altus Power’s Form 10-K filed with the Securities and Exchange Commission on March 24^th, 2022, as well as the other information we file with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made and the information and assumptions underlying such statement as we know it and on the date such statement was made, and Altus Power undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.

This press release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Altus Power and is not intended to form the basis of an investment decision in Altus Power. All subsequent written and oral forward-looking statements concerning Altus Power or other matters and attributable to Altus Power or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.

Non-GAAP Financial Reconciliation

Reconciliation of GAAP reported Net Income to non-GAAP adjusted EBITDA:

Reconciliation of non-GAAP adjusted EBITDA margin:

¹ Conversion from megawatt hours according to EPA AVERT Calculator

Altus Power Contacts
For Media:
Cory Ziskind
ICR, Inc.
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For Investors:
Chris Shelton, Head of IR
Caldwell Bailey, ICR, Inc.
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TerraPower undertakes a large private capital fundraise in support of advanced nuclear deployment

BELLEVUE, Wash.--(BUSINESS WIRE)--TerraPower, a leading nuclear innovation company, announced today the close of an equity raise that yields a minimum of $750 million. This is one of the largest advanced nuclear fundraises to-date.

The fundraise was co-led by SK Inc. and SK Innovation (collectively, “SK”) and TerraPower’s founder Bill Gates. SK invested $250 million. SK Group is among South Korea's largest energy providers and the second-largest conglomerate. Additional funding will come from other investors.

This fundraise enhances TerraPower’s groundbreaking work in advanced nuclear energy technologies and nuclear medicine.

“TerraPower is committed to solving some of the toughest challenges that face this generation through innovation,” said TerraPower President and CEO Chris Levesque. “Whether it’s addressing climate change with carbon-free advanced nuclear energy, or fighting cancer with nuclear isotopes, our team is deploying technology solutions and investors across the world are taking note.”

TerraPower is experiencing terrific growth, partially driven by the U.S. Department of Energy’s Advanced Reactor Demonstration Program (ARDP) award and the construction of the Natrium™ demonstration plant¹ at a retiring coal facility in Wyoming. Part of the ARDP award requires a match of 50% of project costs, up to $2 billion. This new fundraise further builds on the support of existing investors and will support TerraPower’s current implementation efforts.

The TerraPower Isotopes (TPI) program is supporting the transformation of the fight against cancer by advancing the next generation of isotopes. TPI has unique access to Actinium-225 and is working to provide this isotope to the pharmaceutical community for the development of drugs that target and treat cancer.

Moohwan Kim, Executive Vice President and Head of Green Investment Center at SK Inc. noted that “SK is excited to expand our energy, technology and bioscience investments with leading companies in the U.S. We are committed to supporting TerraPower’s global deployment of game changing products. We see important synergies in our businesses and this investment reinforces our strategic global carbon reduction goals.”

Credit Suisse acted as the exclusive placement agent to TerraPower. Perkins Coie LLP acted as outside corporate counsel to TerraPower. TerraPower will continue to be a privately held company. Further terms of the fundraise were not disclosed.

About TerraPower
TerraPower is a leading nuclear innovation company that strives to improve the world through nuclear energy and science. Since it was founded by Bill Gates and a group of like-minded visionaries, TerraPower has emerged as an incubator and developer of ideas and technologies that offer energy independence, environmental sustainability, medical advancement and other cutting-edge opportunities. It accepts and tackles some of the world’s most difficult challenges. Behind each of its innovations and programs, TerraPower actively works to bring together the strengths and experiences of the world’s public and private sectors to answer pressing global needs. Learn more at terrapower.com.

About SK Group
SK Group, South Korea’s second-largest conglomerate according to the Korea Fair Trade Commission, is a collection of global industry-leading companies driving innovations in semiconductors, sustainable energy, telecommunications and life sciences. For more information, visit eng.sk.com.

About SK Inc.
Established in 2007, SK Inc. (formally known as “SK Holdings Co., Ltd.”) is a holding company of SK Group with specialization in investment activities, headquartered in Seoul and ranks 117th on the Fortune Global 500 list. The company’s investment principles and strategies target environmental, social and governance (ESG) priorities alongside financial returns to drive sustainable growth for its stakeholders and society. The strategic investment areas of SK Inc. include advanced materials, biopharmaceutical, green energy, and digital technologies. For more information on SK Inc., visit sk-inc.com/en/.

About SK Innovation Co., Ltd.
Established as South Korea’s first and largest oil refining company in 1962, now leading the way toward ‘Green Energy & Materials Company’ with the ESG value. SK Innovation is a SK Group intermediate holding company in energy, petrochemical, lubricants, E&P, e-mobility battery, information and electronic materials businesses along with eight major subsidiaries. SK Innovation has established a value chain in its businesses with a vertical integration from E&P to producing petrochemical products and expanded the green portfolio through continuous investment in battery and materials sectors. SK Innovation and its subsidiaries are accelerating its future eco-friendly business such as plastic recycling, CCS (Carbon Capture & Storage) and BMR (Battery Metal Recycling) businesses. SK Innovation is also considering various new businesses to play the role of ‘Portfolio Designer & Developer.’ For more information, visit eng.skinnovation.com.

_________________
¹ A TerraPower and GE Hitachi technology

Media
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Companies will receive financial, business development, and R&D mentorship at Indianapolis innovation hub during immersive 13-week program

INDIANAPOLIS--(BUSINESS WIRE)--The Heritage Group (“THG”) Accelerator today announced that seven companies have been selected to participate in its 2022 hard tech accelerator program at THG’s innovation hub in Indianapolis. The chosen companies are focused on building a sustainable future through innovation in specialty chemicals, advanced materials, infrastructure and construction, environmental solutions, and industrial systems.

Throughout the program, each participating startup will receive mentorship from executives, scientists, industry professionals, and successful entrepreneurs, and will be able to access THG’s 30+ operating companies to gain critical industry insights and opportunities to pilot their technologies. The program will conclude on November 15 with a public event in which the startups will demonstrate their technologies and pitch their businesses to a global audience of leading investors.

“The need for innovators interested in a greener future has never been more clear. At The Heritage Group Accelerator, we pair innovators with hand-selected resources and expertise to scale their transformative technologies and write the next chapter in sustainable manufacturing, materials, infrastructure, waste and water treatment, and other hard tech verticals,” said Nida Ansari, Managing Director of the THG Accelerator. “We are thrilled to welcome these seven promising companies to Indianapolis for our program.”

Each company was selected to be part of the 2022 THG Accelerator program after a rigorous application and review process. The selected startups are:

• Allium Engineering (Cambridge, MA) has built a proprietary rebar technology to eliminate steel corrosion and create more resilient, affordable, and sustainable material. Structures that would last 30 years with traditional rebar can be built to last 100 years with Allium’s innovative solutions.
• ZILA Works (Renton, WA) is developing a novel industrial bioplastic to help product manufacturers lower their carbon footprint. The company’s patented process uses vegetable oils to create a bio-epoxy resin system that reduces carbon emissions by as much as 60% compared to petroleum-based epoxies.
• Nanode Battery Technology (Edmonton, AB) has invented a next-generation high-performance material that optimizes rechargeable lithium and sodium-ion batteries. Batteries utilizing Nanode’s technology have 5x the energy density of traditional batteries at 40% the cost.
• SeaChange Technologies Inc. (Raleigh, NC) offers a patented water treatment technology that eliminates toxic sludge from industrial waste water, reducing both costs and impact on the environment.
• Sirionix Renewables (Seattle, WA) creates high-performing plant-based cleaning products that are sustainable, nontoxic and perform better than incumbent chemical-based brands.
• SusMaX (Philadelphia, PA) uses a thermodynamics-based technology to transform waste coal ash into lightweight construction aggregates. This technology promotes landfill diversion, extends the service life of construction materials, and reduces transportation costs by 50%.
• Ourobio (Charlottesville, VA) turns industrial byproducts into low-footprint, performance-enhancing, biodegradable plastic additives. Plastics incorporating the company’s technology are less expensive, more sustainable, and easier to manufacture.

The 2022 Heritage Accelerator cohort will be greeted today by more than 150 industry, technical, and business professionals during a Welcome to Our Ecosystem event at THG’s innovation hub, The Center. Following that event, cohort founders will continue building relationships with Indiana’s startup professionals while packing meals for food-insecure Hoosiers during an interactive networking event in cooperation with Pack Away Hunger.

With the addition of this cohort, the THG Accelerator portfolio now includes 36 startups. In the past three years, THG Accelerator alumni have conducted 25+ pilots and raised more than $28 million in follow-on funding. Three Accelerator companies have relocated their headquarters to Indiana or opened significant operations in the Hoosier state.

About HG Ventures:
HG Ventures is the corporate venture arm of The Heritage Group, headquartered in Indianapolis. HG Ventures supports innovation and growth across The Heritage Group by investing and partnering with innovative, high-growth companies to support a sustainable future. The team leverages the world-class expertise of The Heritage Group operating companies and a research center to offer a unique value proposition to its portfolio company partners. Learn more at www.hgventures.com. More about The Heritage Group Accelerator at https://hgaccelerator.com/.

About The Heritage Group:
Founded in 1930, The Heritage Group (THG) is a fourth-generation, family-owned business managing a diverse portfolio of companies specializing in heavy construction and materials, environmental services, and specialty chemicals. Companies within the THG portfolio include Heritage Environmental Services, Heritage Construction + Materials, and Monument Chemical. With more than 6,000 employees and 30 operating companies worldwide, THG aims to build a safer, more enriching and sustainable world by harnessing the power of family.

Media:
HG Ventures
Regan Keller
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- Equinox Partners to vote against board-slate candidates who have served for two or more years but have invested less than two years of director’s fees into company stock

- Insider ownership among gold mining companies has declined, board turnover driven by passive investor owners largely to blame

STAMFORD, Conn.--(BUSINESS WIRE)--Equinox Partners Investment Management, LLC, a long-term value investor, today announced its new investment stewardship policy toward directors of public companies. Based on years of active engagement with boards, Equinox Partners has decided to adopt a strict policy of voting against directors who have served for two or more years but have invested less than two years of director’s fees into the company’s stock.

Equinox Partners estimates that as a result of this policy it will vote against approximately 10% of the board-slate candidates in the 2023 proxy season. By adopting a clear, lower-bound for director share ownership, Equinox Partners intends to push back on the growing indifference of boards to non-executive director stock ownership and the decision of some companies to prohibit non-executive directors from owning stock all together.

“Shareholders should not support directors who lack meaningful financial alignment with the companies for which they bear ultimate governing responsibility,” said Sean Fieler, President and Chief Investment Officer of Equinox Partners. “We have seen a troubling deemphasis of financial alignment among international mining companies. By elevating individuals who do not own stock and are unlikely to acquire a significant financial interest in the company they oversee, the board is adding colleagues who will tend to prioritize collegiality and reputation over its company’s financial interests.”

Since 2015, the insider ownership amongst the gold mining companies that make up the MVIS Global Junior Miners Index (MVGDXJTR) has fallen over the past seven years. The proximate cause of this decline is board turnover driven by passive investors.

“Unlike activists who propose specific directors, large passive managers propose categories of directors rather than individuals. Corporate insiders have largely acquiesced to these demands by nominating new directors that fit the passive investors’ criteria, but are unlikely to rock the boat,” said Fieler.

“…the Canadian E&P industry is an example of a more responsible approach to director alignment. It is common for Canadian E&P companies to mandate that board members own at least three years of directors’ compensation in stock. Not coincidentally, the Canadian E&P industry has turned into a sector which prioritizes returns on and of owners’ capital.” (Equinox Partners Q2 Letter)

About Equinox Partners

Equinox Partners, headquartered in Connecticut is a long-term value investor with a large weighting in precious metals miners. Equinox Partners’ high conviction approach to fundamental investing involves a strong, active focus on corporate governance.

Media:

Thomas Conroy
Peregrine Communications
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+1 917 970 8667

SWINDON, England--(BUSINESS WIRE)--Sensata Technologies Holding plc (NYSE: ST) (“Sensata Technologies”) today announced that its indirect wholly owned subsidiary Sensata Technologies B.V. (the “Issuer”) intends to offer, subject to market and other customary conditions, $500 million in aggregate principal amount of senior notes (the “Notes”) in a private offering that is exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”).

The Notes will be guaranteed on a senior unsecured basis by each of the Issuer’s wholly owned subsidiaries that is a borrower or a guarantor under Sensata’s senior credit facilities and an issuer or a guarantor under Sensata’s outstanding series of existing notes. The Notes and the guarantees will be the Issuer’s and the guarantors’ senior unsecured obligations and will rank equally in right of payment to all existing and future senior indebtedness of the Issuer or the guarantors, respectively, including the senior credit facilities and outstanding series of existing notes. The Notes and the guarantees will be senior to all the Issuer’s and the guarantors’ existing and future indebtedness that is expressly subordinated to the Notes and the guarantees. The Notes and the guarantees will be effectively junior to the Issuer’s and the guarantors’ existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness, including indebtedness under the senior credit facilities, and will be structurally subordinated to all of the existing and future obligations of any of, as applicable, the Issuer’s or the respective guarantor’s subsidiaries that do not guarantee the Notes.

Sensata Technologies intends to use the net proceeds from the offering of the Notes for the redemption of its 4.875% senior notes due 2023.

The Notes and the related guarantees will be offered only to persons reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act. The Notes and the related guarantees have not been and will not be registered under the Securities Act or the securities laws of any state or other jurisdiction and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue-sky laws or outside the United States except in compliance with foreign securities laws.

This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities. The Notes offering is not being made to any person in any jurisdiction in which the offer, solicitation or sale is unlawful. Any offers of the Notes will be made only by means of a private offering memorandum.

About Sensata Technologies

Sensata Technologies is a global industrial technology company striving to create a cleaner, more efficient, electrified and connected world. Through its broad portfolio of sensors, electrical protection components and sensor-rich solutions which create valuable insights, Sensata helps its customers address increasingly complex engineering and operating performance requirements. With more than 21,000 employees and operations in 13 countries, Sensata serves customers in the automotive, heavy vehicle & off-road, industrial, and aerospace markets.

Safe Harbor Statement

Statements in this release which are not historical facts, such as those that may be identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “would,” and similar expressions, are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, but are not limited to, the consummation of the offering by the Issuer and the use of proceeds. Detailed information about some of the other known risks is included in our Annual Report on Form 10-K for the year ended December 31, 2021 and our other reports filed with the Securities and Exchange Commission. Because actual results could differ materially from our intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements contained in this news release with caution. Except as required by applicable law, we do not undertake to publicly update or revise any of these forward-looking statements, whether as a result of new information, future events, or otherwise.

Media:
Alexia Taxiarchos
Head of Media Relations
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Investor:
Jacob Sayer
Vice President, Finance
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HOUSTON--(BUSINESS WIRE)--Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today a series of executive leadership promotions, effective immediately. John Black has been promoted to Executive Vice President and Chief Financial Officer and will report directly to Robert Halpin, who will continue in his role as President and report directly to Robert G. Phillips, Founder, Chairman and Chief Executive Officer. Additionally, Josh Wannarka has been promoted to Senior Vice President, Finance and Andrew Thorington has been promoted to Vice President, Finance and Investor Relations.

Mr. Black has been with Crestwood since 2014, most recently serving as Senior Vice President, Finance since 2019. During his tenure in various finance roles, Mr. Black has played a critical role in the development and execution of Crestwood’s corporate and financial strategies over the past eight years. In his new role, Mr. Black will be responsible for overseeing Crestwood’s corporate finance organization including financial planning and analysis, capital markets execution, treasury and cash management, and investor relations. Prior to joining Crestwood, Mr. Black held positions at First Reserve and Citi.

In his role as President, Mr. Halpin will continue to support Mr. Phillips in the execution of Crestwood’s long-term strategy through the leadership of Crestwood’s commercial, operations, engineering and project management, sustainability, corporate communications, and financial activities.

Mr. Phillips commented, “I am excited to announce John’s well-deserved promotion to Chief Financial Officer,” stated Robert G. Phillips, Founder, Chairman and Chief Executive Officer. “Alongside Robert, John has been an integral part of Crestwood’s management and finance teams as the company has continued to grow and evolve through various commodity cycles. His leadership, work ethic, financial acumen and strength of character perfectly embodies the culture we have worked so hard to build at Crestwood over the past twelve years. As Crestwood looks to capture the benefits of the numerous transactions announced over the last twelve months, I am thrilled to add additional depth to our knowledgeable and experienced executive team and to continue to advance and develop our highly talented individuals for the continued success of Crestwood.”

Additionally, Josh Wannarka has been promoted to Senior Vice President, Finance and Andrew Thorington has been promoted to Vice President, Finance and Investor Relations. Mr. Wannarka joined Crestwood in 2015, most recently serving as Senior Vice President, Investor Relations. In his seven years of leadership of Crestwood’s investor relations team, Mr. Wannarka has built strong credibility with Crestwood’s investor base and has consistently been one of the highest regarded investor relations professionals in the midstream sector. In his new expanded role, Mr. Wannarka will continue to have ultimate leadership over Crestwood’s investor relations team while also overseeing Crestwood’s full financial planning and analysis function.

Mr. Thorington joined Crestwood in 2014, most recently serving as Vice President, Finance. In his new role, Mr. Thorington will become Crestwood’s primary execution lead over investor relations while continuing his leadership role over Crestwood’s financial planning and analysis group including continuing support of Crestwood’s commercial, business development, and corporate development and strategy teams in the execution of the company’s long-term growth strategy around its core operating assets.

Mr. Halpin commented, “I share Bob’s excitement in today’s announcements of the advancement of Crestwood’s executive leadership and finance teams. John, Josh, and Andrew have each played critical roles in the success of Crestwood over the years. I have been very fortunate in my tenor as CFO to have such a talented group of finance professionals supporting our team. I have the upmost confidence in their ability to assume greater leadership of Crestwood’s corporate finance function and to continue the execution of our strategy to drive long-term value for our investors.”

About Crestwood Equity Partners LP

Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. Visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.

Forward Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal securities law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. These risks and assumptions are described in Crestwood’s annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.

Crestwood Equity Partners LP
Investor Relations Contacts

Andrew Thorington, 713-380-3028
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Vice President, Finance and Investor Relations

Rhianna Disch, 713-380-3006
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Director, Investor Relations

Sustainability and Media Contact
Joanne Howard, 832-519-2211
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Senior Vice President, Sustainability and Corporate Communications

DALLAS--(BUSINESS WIRE)--Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client PGH Petroleum & Environmental Engineers, LLC to GAI Consultants, Inc. The transaction closed April 6, 2022.

PGH Petroleum & Environmental Engineers (PGH), located in Austin, Texas is unique in the oil and gas consulting field in that the Company offers clients a full range of petroleum and regulatory consulting services. In operation for over 25 years, the Company has developed a broad set of capabilities and has completed work on a variety of projects. PGH’s staff of professional engineers, professional geologists, technicians and support personnel are dedicated to providing the highest quality engineering services available, in the most efficient and cost-effective manner possible.

With multiple offices located throughout the U.S. and headquartered in Homestead, Pennsylvania, GAI Consultants (GAI) is an employee-owned company that delivers award-winning engineering, planning, and environmental expertise to energy, transportation, development, government, and industrial clients worldwide. GAI’s accomplished specialists are dedicated to earning their clients’ trust—they approach every initiative with enthusiasm and integrity, delivering multifaceted services to meet the greatest challenges.

Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team led by Managing Director, M&A, Julio Dominguez, successfully closed the transaction. Senior Managing Director, Brian Hendershot established the initial relationship with PGH.

About Generational Equity

Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.

With more than 300 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.

The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.

Carl Doerksen
972-342-0968
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IEG Adds Innovative Mechanical, Electrical, and Plumbing Design & Engineering Solutions to Huckabee Architects

WESTLAKE, Texas--(BUSINESS WIRE)--Godspeed Capital Management LP (“Godspeed Capital”), a lower middle-market Defense & Government services, solutions, and technology focused private equity firm, today announced the successful acquisition of Image Engineering Group (“IEG” or the “Company”), a Texas-based Mechanical, Electrical, and Plumbing (“MEP”) design firm focused on sustainability in the education, commercial, and retail markets. The financial terms of the transaction were not disclosed.

Founded in 1991 in Westlake, Texas, IEG is a leading provider of innovative MEP design and engineering solutions. Driven by a mission to deliver sustainable, cost-effective buildings and deep expertise operating within the education, commercial, and retail architecture markets, IEG’s seasoned management team boasts a more than 30-year track record of providing environmentally friendly and cost-effective MEP solutions to education, commercial, and retail facilities across Texas and nationally.

IEG will join Rachlin Partners and TSK Architects as part of Huckabee Architects, Inc. (“Huckabee”), Godspeed Capital’s Architectural, Engineering, and Consulting (“AEC”) services and solutions growth platform focused on education and government markets. Continuing Godspeed’s ongoing strategy to further grow and diversify Huckabee’s capabilities, IEG will add technology solutions, geographic and market reach, and customer relationships to the platform. Under the Huckabee umbrella, IEG will integrate its MEP engineering capabilities to enhance the platform’s design innovation and expand the continuum of capabilities offered to Huckabee’s growing customer base.

Following the transaction, IEG will continue to be led by Founder, Don Penn, and President, Jonathan Penn.

Chris Huckabee, Chief Executive Officer of Huckabee, said “We are thrilled to announce the addition of IEG to our platform, whose highly technical MEP engineering capabilities are a key area of expertise for Huckabee as we work to become a diversified, leading national AEC services platform. IEG is a recognized leader within the industry and has gained a tremendous amount of respect for their innovative engineering solutions and the premier client service that IEG’s team brings to each of its projects. We look forward to leveraging the firm’s capabilities to provide Huckabee’s clients a fully comprehensive offering of AEC services and solutions.”

Don Penn, Founder of Image Engineering Group, said, “We are excited to join forces with Huckabee and add new design and engineering innovations, scale, and diversity to the platform. Not only will Huckabee’s expansive AEC offerings enable us to expand our network into the growing K-12 and Higher Education sectors across the Southwestern US; the platform will also provide us with a substantial inflow of work to backfill our business development pipeline.”

About Image Engineering Group

Image Engineering Group is a Mechanical, Electrical, and Plumbing design firm located in the Dallas-Fort Worth, Texas area founded by Don Penn in 1991. IEG has dedicated its efforts to educating school districts and other specialty clients in ways to become more environmentally friendly and cost effective in their Mechanical, Electrical and Plumbing design. IEG’s over 30 engineers and designers, by merging geothermal HVAC with solar and wind solutions, have created some of the most energy efficient facilities in the country. For more information, please visit https://www.iegltd.com/

About Huckabee Architects

Huckabee Architects is the platform brand of Godspeed Capital’s new architecture, engineering, and consulting services and solutions growth strategy focused on providing cutting edge, technology-driven education design and engineering solutions in attractive, high-growth U.S. markets. Founded in 1967 and headquartered in Fort Worth, Texas, Huckabee is the largest education architecture and design services firm in the state of Texas and consistently ranks among the top educational architecture firms in the nation. The firm’s expertise ranges from early learning to higher education, the arts, athletics and spaces where learners of all ages can expand their knowledge. The firm’s education-focused services complement a holistic, human-centric and evidence-based approach to design. For more information, please visit https://www.huckabee-inc.com/

About Godspeed Capital

Godspeed Capital is a lower middle-market Defense & Government services, solutions, and technology focused private equity firm investing alongside forward-thinking management teams that seek an experienced and innovative investment partner with unique sector expertise, operational insight, and flexible capital for growth. While a typical investment will involve companies generating approximately $3 million to $30 million of EBITDA, Godspeed Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, and special situations. For more information, please visit the Godspeed Capital website at www.godspeedcm.com

Media:
For Godspeed Capital:
Alex Jeffrey/Sara Widmann
Gasthalter & Co.
(212) 257-4170

Altus Power to help develop rooftop solar, battery storage and EV charging in U.S. and Europe

NEW YORK--(BUSINESS WIRE)--CBRE Investment Management announced today a sustainability initiative that is intended to scale the development of solar projects within its direct logistics portfolio, which now spans 17 countries worldwide and encompasses more than 600 assets, 200 million sq. ft. and $30.2 billion AUM.

As part of this initiative, CBRE Investment Management is working closely with Altus Power, Inc. (NYSE: AMPS), a premier commercial-scale clean electrification company, in the U.S. and Europe to establish solutions that are focused on decarbonization and resiliency, including the development and installation of solar power generation, battery storage and electric-vehicle charging systems.

“We are focused on deploying onsite solar projects across our logistics assets where viable in order to advance our sustainability goals and support the transition to clean energy,” said Chuck Leitner, chief executive officer of CBRE Investment Management. “We look forward to expanding our relationship with Altus Power across core markets in the U.S. and Europe as we scale to make our portfolio more resilient, profitable and sustainable.”

Earlier this year, CBRE Investment Management announced its first agreement with Altus Power to build and operate a portfolio of rooftop community solar projects on logistics facilities that are managed by CBRE Investment Management in Maryland. These projects, which provide renewable energy to residential customers and CBRE Investment Management logistics tenants, are expected to produce savings for approximately 5,700 residential customers in Maryland.

CBRE Investment Management’s enhanced focus on clean electrification comes two years after the business adopted its logistics investor-developer-operator model that focuses on delivery across all aspects of an asset’s lifecycle, from investment through to the user experience. In line with this, the firm created a global sector-specific logistics team in June 2021 to enhance and better align its expertise across the sector. Since then, CBRE Investment Management’s direct logistics assets under management have increased by more than 34% from $22.5 billion to $30.2 billion, while the firm’s full real assets portfolio now stands at a record high of $146.9 billion.

Earlier this year, Trammell Crow Company, another CBRE subsidiary, announced a strategic partnership to bring Altus Power’s clean energy solutions to 35 million sq. ft. of industrial assets in the company’s U.S. real estate development pipeline.

About CBRE Investment Management

CBRE Investment Management is a leading global real assets investment management firm with $146.9 billion in assets under management* as of June 30, 2022, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.

Caroline Wells
+44 (0) 7727 740364 | This email address is being protected from spambots. You need JavaScript enabled to view it.

TORONTO--(BUSINESS WIRE)--#Facedrivefoods--STEER Technologies Inc. (“STEER” or “the Company”) (TSXV: FD) (OTCQX: FDVRF), an integrated ESG technology platform, is pleased to announce its electric vehicle subscription service (“STEER EV”) has obtained a business license to operate in British Columbia, Canada, and added the province as a new service area. STEER EV’s subscription service is available to the eligible residents of the province as of August, 2022. STEER EV has been working on expanding the financing required to accommodate further launches, and is now aiming to grow both its fleet size and geographical footprint throughout the second half of 2022.

From its inception, the STEER EV platform has been focused on challenging the traditional car ownership model and accelerating the general public’s switchover to environmentally friendly transportation through an automobile subscription service. Having transformed the platform into a leading provider of subscription-based EV services in Canada, the Company feels its turnkey month-to-month model – which includes insurance, maintenance, vehicle swaps and concierge delivery – presents an attractive alternative for customers seeking a time-efficient and hassle-free transportation solution.

The Company sees STEER EV capitalizing on two mega-trends in the personal transport industry: increasing eco-consciousness on part of individuals and governments alike, as well as a general shift away from traditional car ownership in favour of more flexible options such as per-use or subscription-based services, particularly among the younger generation. The global car subscription market was valued at $3.55 billion in 2019, and is projected to reach $12.1 billion by 2027, representing a compounded annual growth rate (CAGR) of 23.1%.¹ As an ESG ecosystem, STEER is confident that its commitment to working alongside responsible governments, businesses and individuals in addressing environmental, social and governance concerns positions its well to capture growth in the electric vehicle subscription services market in the years to come.

STEER EV’s expansion into British Columbia marks an important step in the platform’s expansion, as the province is a known supporter of EV adoption, having increased the number of EVs on its roads by 1,600% in the past six years². The Company also feels this expansion aligns with the views of the Government of Canada, which has continually expressed support for that the electrification of Canada’s light-duty vehicles as part of a shift towards cleaner fuels and a general decarbonisation of the country’s transportation sector. Currently, transportation accounts for approximately 25% of Canada’s greenhouse gas emissions (GHG), of which almost half comes from passenger cars and light trucks. ³

“We are pleased to bring our EV subscription services to British Columbia, which is our second market in Canada, and our first launch on the west coast. Our team has put a lot of hard work, time and dedication to ensure a successful start of this new chapter. Having proved the efficacy and the popularity of the STEER business model in our Washington, Toronto and Texas markets, we are focused on continuous growth and replicating success in new North American markets. Shortly after British Columbia, our continent-wide rollout will continue with planned launches in Florida and California,” said Suman Pushparajah, CEO of STEER.

About the Company

STEER is an integrated ESG technology platform that moves people and delivers things through subscription and on-demand services. The Company’s goal is to build a one-of-a-kind system that aggregates conscientious users, through a series of connected offerings, and enables them to buy, sell, or invest with the same platform, STEER. The Company’s offerings generally fall into two categories: subscription-based offerings led by its flagship electric vehicle subscription business, STEER EV, and on-demand services incorporating delivery, B2B marketplace, Delivery-as-a-Service (DaaS) and rideshare businesses. The Company’s platform is also powered by EcoCRED, its big data, analytics and machine learning engine which seeks to capture, analyze, parse and report on key data points in ways that measure the Company’s impact on carbon reductions and offsets.

For more about the Company, visit www.facedrive.com.
Suman Pushparajah, CEO
This email address is being protected from spambots. You need JavaScript enabled to view it.
STEER
100 Consilium Pl, Unit 400
Scarborough, ON
Canada M1H 3E3
www.facedrive.com

Forward-Looking Information

Certain information in this press release contains forward-looking information, including with respect to the Company’s business, operations and condition, management’s objectives, strategies, beliefs and intentions, and the company’s forward plans to rebrand. This information is based on management’s reasonable assumptions and beliefs in light of the information currently available to us and are made as of the date of this press release. Actual results and the timing of events, such as those pertaining to the Company’s planned future launches and intended fleet growth, may differ materially from those anticipated in the forward-looking information as a result of various factors. Information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. Statements containing forward-looking information are not facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements.

See “Forward-Looking Information” and “Risk Factors” in the Company’s Annual Management Discussion & Analysis (MD&A) for the year ended December 31, 2021 (filed on SEDAR on May 2, 2022) and its interim MD&A for the period ended March 31, 2022 (filed on SEDAR on May 30, 2022) for a discussion of the uncertainties, risks and assumptions associated with these statements and other risks. Readers are urged to consider the uncertainties, risks and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. We have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation and regulatory requirements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

¹ https://www.alliedmarketresearch.com/car-subscription-market-A10188#:~:text=The%20global%20car%20subscription%20market,with%20a%20CAGR%20of%2021.7%25
² https://news.gov.bc.ca/releases/2022EMLI0037-000869
³ https://www.nrcan.gc.ca/energy-efficiency/transportation-alternative-fuels/zero-emission-vehicle-infrastructure-program/21876

Company Contact: Maria Verbytska, This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Contact: Sana Srithas, This email address is being protected from spambots. You need JavaScript enabled to view it., Tel: 1-888-300-2228