Accountable, Cleaner & More Resilient Emissions Reduction Roadmap

BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina, today announced its Board of Directors has approved a Greenhouse Gas (GHG) emission reduction strategy covering short, medium and long-term initiatives¹.

Fast, Immediate and Aggressive Targets

• 35-40% GHG emissions intensity reduction of Scope 1 and 2 emissions by 2025 or sooner
• 40-60% GHG emissions intensity reduction of Scope 1 and 2 emissions by 2025-2030
• Net zero Scope 1 and 2 emissions by 2050 or sooner

Greenhouse Gas Emission Reduction Actions and Strategy

• Plan developed by GeoPark’s team and supported by Kearney, a globally recognized consulting firm
• Head start with lower-than-average carbon intensity in 2020: current 15.2 kg CO2e/boe² intensity is 28% below industry peer group³
• Main actions underway target core Llanos 34 block (GeoPark operated, 45% WI) where the interconnection to Colombia’s national grid (~70% hydroelectric⁴) by 2022 is a decisive near-term catalyst to improve carbon performance and operational reliability, while reducing cost of energy generation
• In the Llanos 34 block, other initiatives underway include a solar photovoltaic plant to be operational in end-2022 plus subsoil and surface optimization projects
• In the Platanillo block (GeoPark operated, 100% WI), main actions underway include increasing use of gas for energy generation plus subsoil and surface optimization projects
• Near-term actions include construction of additional solar photovoltaic plants, infrastructure to limit routinary flaring and venting and geothermal power generation projects
• Medium-term actions include small-scale hydropower projects, reforestation and afforestation initiatives, among others
• Longer-term actions may include carbon capture, use and storage projects and potential participation in carbon markets

James F. Park, Chief Executive Officer of GeoPark, said: “GeoPark was built for the long-term to be a leader among independent oil and gas exploration and production companies in Latin America on the foundation that our operations would create value and have a positive impact on all stakeholders. Our carbon reduction plan announced today builds on that principle with low costs and low carbon intensity being key elements of our business model. We congratulate our team that has been working so hard to build a robust strategy with ambitious goals and actionable initiatives that will introduce real change in the short-term.”

NOTICE

Additional information about GeoPark can be found in the “Investor Support” section on the website at www.geo-park.com.

Certain amounts included in this press release have been rounded for ease of presentation.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.

Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief, or current expectations, regarding various matters, including our plan to reduce our carbon footprint by 2025, 2030 and 2050, the interconnection of the Llanos 34 block to the power grid in Colombia, the conversion of the Platanillo block to natural gas and its connection to the grid, the construction of solar photovoltaic plants among other projects and our emission-reduction goals.

Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.

Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).

^{_________________________}

¹ GHG emissions reduction targets refer to GeoPark’s operated assets and using 2020 as baseline.

² GeoPark 2020 GHG emissions intensity.

³ Peer group selected by Kearney.

⁴ Colombian Ministry of Energy and Mines, Report to Congress, p. 14.

INVESTORS:
Stacy Steimel
Shareholder Value Director
T: +562 2242 9600
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Miguel Bello
Market Access Director
T: +562 2242 9600
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Diego Gully
Investor Relations Director
T: +5411 4312 9400
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MEDIA:
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Actions align with company’s focus on debt reduction

HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) today announced it will redeem the entire outstanding principal amount of its Floating Rate Senior Notes due 2024 (the “Notes”). The redemption date for the Notes is December 15, 2021. The aggregate principal amount of the Notes outstanding is $450 million. The redemption price for the Notes will be equal to 100% of the principal amount of the Notes outstanding, plus accrued and unpaid interest thereon to, but not including, the redemption date. Phillips 66 plans to use cash on hand to fund the redemption.

A notice of redemption is being sent to all currently registered holders of the Notes by the Trustee, U.S. Bank National Association.

“Today’s announcement reaffirms our commitment to repaying debt as our cash flow recovers. When the redemption of the Notes is completed, we will have paid down an aggregate of $1.5 billion of debt in 2021,” said Kevin Mitchell, Executive Vice President, Finance and Chief Financial Officer. “We will continue to evaluate paying down additional debt to return to pre-pandemic debt levels as part of our disciplined capital allocation.”

This news release is not an offer to sell or a solicitation of an offer to buy any securities.

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Headquartered in Houston, the company has 14,100 employees committed to safety and operating excellence. Phillips 66 had $56 billion of assets as of Sept. 30, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.

^{CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS
OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995}

^{This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Forward- looking statements may be identified by the use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “targets,” “estimates” or other words of similar meaning. Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized, and involve risks and uncertainties, many of which are beyond Phillips 66’s control, including but not limited to Phillips 66’s plans to reduce debt, the expected timing and terms of redemption of the Notes and the source of funding for the redemption. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of the company’s control, such as circumstances and events that could impact liquidity and other factors. A discussion of factors that may affect future results is included in Phillips 66’s filings with the Securities and Exchange Commission. Phillips 66 disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law.}

Jeff Dietert, 832-765-2297 (investors)
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NEWBURY PARK, Calif.--(BUSINESS WIRE)--Kolibri Global Energy Inc. (TSX: KEI) (OTCQB: KGEIF):

All amounts are in U.S. Dollars unless otherwise indicated:

THIRD QUARTER HIGHLIGHTS

• Adjusted funds flow was $1.7 million in the third quarter of 2021 compared to $1.9 million in the third quarter of 2020. The decrease was mainly due to realized losses from commodity contracts in 2021 and a decrease of 15% in production partially offset by a 58% increase in average oil prices
• Net income for the third quarter of 2021 was $0.6 million compared to a net loss of $0.6 million for the third quarter of 2020
• Revenue, net of royalties was $3.9 million in the third quarter of 2021 compared to $2.5 million for the third quarter of 2020, which was an increase of 58%, as average prices increased by 58% which was partially offset by production decreases of 15%
• Average netback from operations for the third quarter of 2021 was $35.87/boe, an increase of 109% from the prior year third quarter due to higher prices in 2021. Average netback including commodity contracts for the third quarter of 2021 was $27.04 per boe, an increase of 9% from the prior year third quarter
• Average production for the third quarter of 2021 was 960 BOEPD, compared to third quarter 2020 average production of 1,134 BOEPD, which was a decrease of 15%. Average production for the third quarter of 2021 was only 3% lower than the second quarter 2021 production. The decrease compared to the prior year quarter was primarily due to normal production decline for existing wells
• General & administrative (“G&A”) expense decreased by 7% in the third quarter of 2021 compared to the prior year quarter due to management’s continued efforts to reduce G&A costs throughout the Company
• Interest expense decreased by 21% in the third quarter of 2021 compared to the same period in the prior year due to lower interest rates and principal payments on the credit facility during 2021 which reduced the outstanding loan balance
• Operating expenses for the third quarter of 2021 increased by 10% compared to the prior year third quarter. Operating expenses for the nine months ended September 30, 2021 increased by 7% compared to the prior year period. The increase was primarily due to higher production taxes in 2021 due to higher prices
• The balance on the credit facility was $17.3 million at September 30, 2021. As part of the September 2021 redetermination, the term of the loan was extended to June 2023 and the Company will make additional principal payments of $1.3 million by April 2022

KEI’s President and Chief Executive Officer, Wolf Regener commented:

“We are pleased that the Company generated third quarter 2021 net income of $0.6 million and adjusted funds flow of $1.7 million from our existing wells. Adjusted funds flow was just 8% lower than the third quarter of last year as the increase in prices offset the normal decline in production. In addition, the Company has made principal repayments of $3.4 million in 2021, which has reduced our interest expense by 34% in the first nine months of 2021 compared to the prior year. The Company expects its low decline rates to allow the Company to continue to generate positive cash flow from its existing operations into next year.

Adjusted funds flow was $1.7 million in the third quarter of 2021 compared to $1.9 million in the third quarter of 2020. The decrease was mainly due to realized losses from commodity contracts in 2021 and a decrease of 15% in production partially offset by a 58% increase in average oil prices.

Net income for the third quarter of 2021 was $0.6 million compared to a net loss of $0.6 million for the third quarter of 2020.

Average netback from operations for the third quarter of 2021 was $35.87/boe, an increase of 109% from the prior year third quarter due to higher prices in 2021. Average netback including commodity contracts for the third quarter of 2021 was $27.04 per boe, an increase of 9% from the prior year third quarter.

Average production for the third quarter of 2021 was 960 BOEPD, compared to third quarter 2020 average production of 1,134 BOEPD, which was a decrease of 15%. Average production for the third quarter of 2021 was only 3% lower than the second quarter 2021 production. The decrease compared to the prior year quarter was primarily due to normal production decline for existing wells.

Net revenue was $3.9 million in the third quarter of 2021 compared to $2.5 million for third quarter of 2020, which was an increase of 58%, as average prices increased by 58% which was partially offset by production decreases of 15%.

G&A expense decreased by 7% in the third quarter of 2021 compared to the prior year quarter due to management’s continued efforts to reduce costs throughout the Company.

Operating expenses averaged $8.40 per BOE for the third quarter of 2021 compared to $6.46 per BOE for the same period in 2020. The increase was mainly due to higher production taxes in the third quarter of 2021 which were $2.86 per BOE compared to $1.37 per BOE in the prior year third quarter. Operating expense per boe excluding production taxes for the third quarter of 2021 increased by 9% compared to the prior year quarter.”

Third Quarter 2021 versus Third Quarter 2020

Oil and gas gross revenues totaled $4.1 million in the third quarter of 2021 versus $2.7 million in the third quarter of 2020. Oil revenues increased $1.4 million or 52% as average oil prices increased by $30.91 per barrel or 80% to $69.61 partially offset by oil production decreases of 16% to 641 boepd. Natural gas revenues increased by $151,000 or 89% to $320,000 as natural gas prices increased $2.33/mcf or 130% which was partially offset by an average natural gas production decrease of 182 mcfpd or 18%. Natural gas liquids (NGLs) revenues increased $294,000 or 109% as NGL prices increased 137% to $34.36/boe which was partially offset by NGL production decreases of 24 boepd or 12%.

Average third quarter 2021 production per day decreased 16% from the third quarter of 2020. The decrease was primarily due to the normal production decline of existing wells.

Production and operating expenses increased to $742,000 in the third quarter of 2021, an increase of 10%. Operating expenses averaged $8.40 per BOE for the third quarter of 2021 compared to $6.46 per BOE for the same period in 2020. The increase was mainly due to higher production taxes in the third quarter of 2021 which were $2.86 per BOE compared to $1.37 per BOE in the prior year third quarter. Operating expense per boe excluding production taxes for the third quarter of 2021 increased by 9% compared to the prior year quarter mainly due to one-time field maintenance costs incurred in 2021.

Depletion and depreciation expense decreased $244,000 or 22% due to a decrease in production in the third quarter of 2021.

General and administrative expenses decreased $0.1 million or 8% in the third quarter of 2021 due to management’s continued efforts to reduce costs throughout the Company.

Finance income decreased $0.8 million in the third quarter of 2021 compared to the third quarter of 2020 due to realized gains on commodity contracts in the third quarter of 2020.

Finance expense decreased by $0.4 million in the third quarter of 2021 compared to the prior year quarter primarily due to lower unrealized losses on commodity contracts in the third quarter of 2021 compared to 2020 which were partially offset by lower interest expense.

FIRST NINE MONTHS 2021 HIGHLIGHTS

• Adjusted funds flow was $4.7 million in the first nine months of 2021 compared to $5.4 million in the first nine months of 2020. The decrease was primarily due to realized losses from commodity contracts in 2021 and a 16% decrease in production in the first nine months of 2021 compared to 2020 partially offset by a 57% increase in average prices
• Revenue, net of royalties was $10.7 million in the first nine months of 2020 compared to $7.1 million for first nine months of 2020, an increase of 52%, due to an increase in average prices of 57% partially offset by a decrease in production of 16%
• Average netback from operations for the first nine months of 2021 was $31.45/boe, an increase of 103% from the prior year period due to higher prices in 2021. Netback including commodity contracts for the first nine months of 2021 was $25.08/boe which was 7% higher than the prior year period
• Average production for the first nine months of 2021 was 991 BOEPD, a decrease of 16% compared to prior year first nine months average production of 1,174 BOEPD. The decrease was primarily due to the normal production decline of existing wells
• Net loss for the first nine months of 2021 was $1.3 million compared to a net loss of $69.3 million for the first nine months of 2020. The first nine months of 2021 included unrealized losses on commodity contracts of $3.0 million and the first nine months of 2020 included a PP&E impairment of $71.9 million
• General & administrative (“G&A”) expense was flat in the first nine months of 2021 compared to the first nine months of 2020 as cost cutting measures were offset by higher advisor fees in 2021
• Interest expense decreased by 34% in the first nine months of 2021 compared to the same period in the prior year due to lower interest rates and principal payments on the credit facility during 2021 which reduced the outstanding loan balance
• The Company received a notice in June 2021 from the Small Business Administration (SBA) that the entire balance of the original Paycheck Protection Program (PPP) loan of $0.3 million had been forgiven and the Company recorded this amount into income
• Operating expenses for the first nine months of 2021 increased by 7% compared to the prior year third period. The increase was primarily due to higher production taxes in 2021 due to higher prices.

First Nine Months of 2021 versus First Nine Months of 2020

Gross oil and gas revenues totaled $13.7 million in the first nine months of 2021 versus $9.0 million in the first nine months of 2020, an increase of 51%. Oil revenues were $11.5 million in the first nine months of 2021 versus $7.9 million in the same period of 2020, an increase of 47% as average oil prices increased 76% to $62.96 a barrel partially offset by oil production decreases of 16%. Natural gas revenues increased $0.3 million or 65% due to an average natural gas price increase of 97% partially offset by a 16% decrease in natural gas production. NGL revenue increased $0.6 million or 94% due to an average NGL price increase of 121% in the first nine months of 2021 partially offset by a decrease in NGL production of 12%.

Average production per day for the first nine months of 2021 decreased 16% from the prior year comparable period. The decrease was due to the normal production decline of existing wells.

Production and operating expenses increased to $2.7 million or 7% in the first nine months of 2021 compared to the prior year period. Operating expenses averaged $8.17 per BOE for the first nine months of 2021 compared to $6.45 per BOE for the same period in 2020. The increase was due to higher production taxes in the first nine months of 2021 which were $2.59 per BOE compared to $1.75 per BOE in the prior year period. Operating expense per boe excluding production taxes for the first nine months of 2021 increased by 19% compared to the prior year period due to one-time field maintenance costs.

Depletion and depreciation expense decreased $0.9 million due to decreased production and a lower PP&E balance due to the impairment.

G&A expenses were flat as management’s continued efforts to reduce G&A costs throughout the Company were offset by higher advisor fees.

Finance income decreased by $4.4 million due to realized and unrealized gains on financial commodity contracts recorded in 2020.

Finance expense increased $4.3 million due to realized losses on commodity contracts of $1.7 million and unrealized losses of $3.0 million in the first nine months of 2021 partially offset by lower interest expenses compared to the prior year period.

The information outlined above is extracted from and should be read in conjunction with the Company's unaudited financial statements for the three and nine months ended September 30, 2021 and the related management's discussion and analysis thereof, copies of which are available under the Company's profile at www.sedar.com.

NON-GAAP MEASURES

Netback from operations, netback including commodity contracts, net operating income and adjusted funds flow (collectively, the "Company’s Non-GAAP Measures") are not measures recognized under Canadian generally accepted accounting principles ("GAAP") and do not have any standardized meanings prescribed by GAAP.

The Company’s Non-GAAP Measures are described and reconciled to the GAAP measures in the management's discussion and analysis, which are available under the Company's profile at www.sedar.com.

CAUTIONARY STATEMENTS

In this news release and the Company’s other public disclosure:

Caution Regarding Forward-Looking Information

This release contains forward-looking information including information regarding the proposed timing and expected results of exploratory and development work including production from the Company's Tishomingo field, Oklahoma acreage, expectations regarding cash flow, the Company’s reserves based loan facility, including scheduled repayments, expected hedging levels and the Company’s strategy and objectives. The use of any of the words “target”, “plans”, "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements.

Such forward-looking information is based on management’s expectations and assumptions, including that the Company's geologic and reservoir models and analysis will be validated, that indications of early results are reasonably accurate predictors of the prospectiveness of the shale intervals, that previous exploration results are indicative of future results and success, that expected production from future wells can be achieved as modeled and that declines will match the modeling, that future well production rates will be improved over existing wells, that rates of return as modeled can be achieved, that recoveries are consistent with management’s expectations, that additional wells are actually drilled and completed, that design and performance improvements will reduce development time and expense and improve productivity, that discoveries will prove to be economic, that anticipated results and estimated costs will be consistent with managements’ expectations, that all required permits and approvals and the necessary labor and equipment will be obtained, provided or available, as applicable, on terms that are acceptable to the Company, when required, that no unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays or labor or contract disputes are encountered, that the development plans of the Company and its co-venturers will not change, that the demand for oil and gas will be sustained, that the Company will continue to be able to access sufficient capital through financings, credit facilities, farm-ins or other participation arrangements to maintain its projects, that the Company will continue in compliance with the covenants under its reserves-based loan facility and that the borrowing base will not be reduced, that funds will be available from the Company’s reserves based loan facility when required to fund planned operations, that the Company will not be adversely affected by changing government policies and regulations, social instability or other political, economic or diplomatic developments in the countries in which it operates and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company's business and its ability to advance its business strategy.

Forward looking information involves significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: any of the assumptions on which such forward looking information is based vary or prove to be invalid, including that the Company’s geologic and reservoir models or analysis are not validated, anticipated results and estimated costs will not be consistent with managements’ expectations, the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration and development projects or capital expenditures; the uncertainty of reserve and resource estimates and projections relating to production, costs and expenses, and health, safety and environmental risks including flooding and extended interruptions due to inclement or hazardous weather), the risk of commodity price and foreign exchange rate fluctuations, risks and uncertainties associated with securing the necessary regulatory approvals and financing to proceed with continued development of the Tishomingo Field, the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that unexpected geological results are encountered, that completion techniques require further optimization, that production rates do not match the Company’s assumptions, that very low or no production rates are achieved, that the Company will cease to be in compliance with the covenants under its reserves-based loan facility and be required to repay outstanding amounts or that the borrowing base will be reduced pursuant to a bo

For further information, contact:
Wolf E. Regener, President and Chief Executive Officer
+1 (805) 484-3613
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Website: www.kolibrienergy.com

~Lineage becomes a signatory of The Climate Pledge, co-founded by Amazon and Global Optimism, to encourage corporate climate action~

~Commitment calls on signatories to reach net-zero carbon emissions by 2040~

NOVI, Mich.--(BUSINESS WIRE)--#onelineage--Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced it has signed onto The Climate Pledge and committed to be net-zero carbon across business operations by 2040 – 10 years ahead of the Paris Agreement.

The Climate Pledge, co-founded by Amazon and Global Optimism, is a cross-sector community of more than 200 companies working together to encourage corporate action and address the climate crisis. By signing the pledge, Lineage reinforces its commitment to sustainability and has agreed to:

• Measure and report greenhouse gas emissions on an annual basis.
• Implement decarbonization strategies in line with the Paris Agreement through real business change and innovation, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies.
• Take actions to neutralize any remaining emissions with additional, quantifiable, real, permanent, and socially beneficial offsets to achieve net-zero annual carbon emissions by 2040.

“Lineage is deeply committed to sustainable operations, and we look forward to joining other forward-looking signatories of The Climate Pledge to work towards its important mission,” said Greg Lehmkuhl, Lineage’s President and CEO. “Building off of our demonstrated achievements in this space – and with continued emphasis on innovation in logistics optimization, refrigeration system efficiency and renewable energy technologies – I am confident in Lineage’s ability to lead our industry’s charge on decarbonization and encourage others to reduce their impact on our climate.”

Lineage aims to meet the goal of The Climate Pledge through a combination of innovative energy efficiency measures, onsite energy generation and storage, and network-wide standards to minimize and eliminate carbon emissions associated with its daily operations.

“As the world’s largest temperature-controlled warehousing company, Lineage has a responsibility to lead sustainability innovation and progress across the cold chain,” said Chris Thurston, Lineage’s head of renewable energy projects. “In our never-ending pursuit of carbon savings across our facility network, we are constantly developing and deploying new technologies and are excited to share even more as we work towards net-zero operations by 2040.”

Lineage has already begun implementing major initiatives across its network to reduce its carbon footprint. The Company previously committed to decreasing its energy intensity by 25% over 10 years starting in 2015 and met the target in just two years. Additionally, Lineage has committed to installing 85 MW of onsite solar energy capacity by 2025. These plans would place Lineage among Top 5 in the World in on-site solar capacity. As part of these efforts, Lineage also announced that its Colton, CA facility will be among the first of its kind to generate 100% of its energy consumption on-site.

In 2021, the company was awarded the U.S. Department of Energy Better Plants award for the third consecutive year for its cutting-edge energy efficiency initiatives.

About Lineage Logistics

Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 19 countries across North America, Europe and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was listed as No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com)

About The Climate Pledge

In 2019, Amazon and Global Optimism co-founded The Climate Pledge, a commitment to reach the Paris Agreement 10 years early and be net-zero carbon by 2040. Now 105 organizations have signed The Climate Pledge, sending an important signal that there will be rapid growth in demand for products and services that help reduce carbon emissions. For more information, visit www.theclimatepledge.com.

Lineage Logistics
Megan Hendricksen
949.247.5172
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NEW YORK--(BUSINESS WIRE)--#ESG--Despite attracting a wall of money, capital markets are failing to price in climate risks due to policy confusion and a lack of clarity on financial impact, according to a global survey by KPMG, CREATE-Research and the CAIA Association.

Based on interviews with almost 100 leaders from large investment houses and pension plans with $34.5 trillion of assets, the “Can capital markets help save the planet?” survey found that only 14% of respondents believed equities are currently pricing in climate risks. The corresponding figure for alternative investments was 11%, and for bonds, 8%.

Respondents also indicated that progress is more evident in public equities because the stewardship opportunities they offer are now believed to be critical to value creation in the transition to a low-carbon future. Overall, climate pricing is more evident in the energy sector and least evident in capital-intensive projects that have a longer time horizon to commercialization.

“There is currently no clear line of sight between climate investing and its impacts. Green portfolios have not yet equated to a green planet,” said Anthony Cowell, co-author and Head of Asset Management, KPMG Islands Group.

The key barrier appears to be the inexact nature of climate science and its resulting effect on GDP. No historical record or experience exists of how our economic and financial systems can or will react to these effects. The problem is only compounded by the seeming lack of clarity in policy pathways from governments and regulators that should be incentivising a low-carbon future. Intentions run ahead of actions. The opportunities and risks inherent in climate change have been hard to assess.

“The invisible hand of markets needs to be matched by the visible boot of governments,” said Amin Rajan, the report’s co-author and the chief executive of CREATE-Research.

As yet, no jurisdiction has an established set of rules that properly integrate environmental and social costs into companies’ financial reporting, particularly in ways that can assist the price discovery of climate risks. Because of this, market-based incentives and investment in low-carbon technologies are slow to evolve. Progress is also hindered by the lack of uniform carbon price in the current generation of emissions trading systems, which remain at the forefront of tackling climate change.

However, two events are noted as being critical turning points. One is the new green agenda of the key economies, involving, among others, the adoption of clean energy standards, the mandatory reporting of the carbon footprint of listed companies and a revision of the fiduciary rules on the inclusion of environmental, social and governance factors in the portfolios of pension plans; the other is the United Nations COP26 in Glasgow starting on October 31, 2021. “Respondents see this as vital to the carbon-pricing debate, but sustainable action in the home port of the Parties is an essential next step,” said William Kelly, the third co-author of the report and the CEO of CAIA Association.

According to 84% of survey respondents, more coordinated intergovernmental actions are likely following the Glasgow summit, and capital markets are bracing themselves for stronger tailwinds following progress on three key fronts: carbon pricing, innovation in alternative energy and mandatory data reporting.

When asked whether capital markets are likely to start factoring in climate risks on a notable scale, 42% of respondents said ‘yes’, 30% said ‘maybe’ and 28% said ‘no’. Over 60% of respondents expect all asset classes to advance further towards pricing in climate risks over the next three years.

The report concludes that channelling trillions of dollars of capital toward the technologies needed to power a low-carbon economy requires a huge, concerted effort in policy as well as incentives. Without these, some respondents fear that if the policy inertia of the recent past continues to allow risks to build up in the global financial system, a ‘Minsky moment’ will take place: a collapse in securities’ prices due to sudden panic at some future date.

Download the full report here.

For media queries:
Brian O’Neill, Senior Manager, Global External Communications
T: +44 7823 668 689
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HOUSTON & THE HAGUE, Netherlands--(BUSINESS WIRE)--Energy technology company Baker Hughes (BKR: NYSE) and Shell Global Solutions BV (Shell) have signed a broad strategic collaboration agreement to accelerate the global energy transition by helping each other achieve their respective commitments for net-zero carbon emissions and advancing solutions to decarbonize energy and industrial sectors.

The memorandum of understanding (MoU) intends to build on the existing relationship between Shell and Baker Hughes in key areas:

• Shell will initially provide selected Baker Hughes U.S. sites with power and renewable energy credits and the companies will negotiate renewable power for Baker Hughes’ sites in Europe and Singapore.
• Shell and Baker Hughes also agreed to broader collaboration to identify other opportunities to accelerate each other’s transition to net-zero carbon emissions by 2050, such as Baker Hughes providing low-carbon technology solutions for Shell’s LNG fleet.
• The two companies will further explore potential opportunities to co-invest and participate in new models to decarbonize energy and industrial sectors.

“Our agreement with Shell is another example of how we are collaborating in new ways to meet net-zero targets for our company and for our customers,” said Lorenzo Simonelli, Baker Hughes chairman and CEO. “The urgency around the energy transition to meet Paris Agreement goals requires collaboration to accelerate actionable steps to reduce emissions in various ways."

Harry Brekelmans, projects & technology director at Shell, said: “Shell and Baker Hughes both have clear ambitions to decarbonize and have already made progress through technical innovations. I’m proud of the work that has been done so far, and with this new agreement, we are taking it one step further. It will enable us – and our partners – to push the boundaries of what can be achieved and move even closer toward our net-zero targets.”

Power agreement for certain Baker Hughes sites

As a first step in the collaboration, the parties seek to finalize Shell’s supply of certain Baker Hughes U.S. facilities with power and renewable energy credits for a two-year period. In 2021, Baker Hughes’ global renewable electricity consumption was 22%, and with this agreement, it is expected to grow by 2% to 24% annually. Shell and Baker Hughes will also negotiate supply of up to 100 GWh of renewable power for Baker Hughes facilities in Europe and explore the development of an on-site solar solution for Baker Hughes’ chemical blending plant in Singapore.

Other solutions to meet companies’ net-zero carbon emissions targets

Shell and Baker Hughes will further collaborate to explore additional opportunities to help Baker Hughes accelerate its transition to net-zero carbon equivalent emissions, including Shell providing low-carbon transportation and fuel solutions for Baker Hughes.

In turn, Shell will evaluate opportunities for Baker Hughes to provide low-carbon solutions for Shell’s LNG fleet through technology upgrades and compressor re-bundles. Baker Hughes will also help Shell develop digital solutions to accelerate decarbonization across Shell’s global assets and operations.

Exploration of new collaboration models to decarbonize energy and industrial sectors

In addition to advancing each other’s own emissions reductions, Shell and Baker Hughes will collaborate to explore opportunities to offer solutions for hard to abate industries globally.

Shell and Baker Hughes have already achieved important results through their long-standing relationship, including:

• Baker Hughes was the first supplier to participate in Shell’s ‘Supplier Energy Transition Hub’ - a key collaboration and co-learning platform where suppliers define and estimate their emissions reduction ambitions while learning from other industry experiences.
• Under the Open AI Energy Initiative (OAI), Baker Hughes helped Shell develop and bring to market solutions to accelerate decarbonization across Shell’s assets and the wider industry.
• The two companies also introduced VitalyX, a digital lubrication oil monitoring system using the latest digital technologies to ensure the uptime, performance, and optimization of a customers’ marine fleet.

About Baker Hughes

Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

About Shell

Royal Dutch Shell plc is incorporated in England and Wales‚ has its headquarters in The Hague and is listed on the London‚ Amsterdam‚ and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing‚ marketing and shipping of oil products and chemicals and renewable energy projects. For further information‚ visit www.shell.com. The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this document “Shell” is sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general.

Baker Hughes Contacts

Baker Hughes Media Relations:
Stephanie Price
+1 281 605 8399
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Baker Hughes Investor Relations:
Jud Bailey
+1 281-809-9088
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Shell Contacts

Shell Media Relations:
Laura van Lingen
+31 70 377 8750
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HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced it signed an agreement with Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) to grant Teck access to Neftex^® Predictions to support their global mineral exploration efforts. Teck is one of Canada’s leading mining companies and is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal as well as investments in energy assets with operations in Canada, the United States, Chile, and Peru.

Neftex^® Predictions from Halliburton Landmark provides geoscience context, knowledge, and insight and delivers the most comprehensive, integrated geological framework for subsurface evaluation and risk assessment. The integrated infrastructure for subsurface prediction delivers a complete understanding of key geological features that guide mineral exploration.

The cloud-deployed portfolio also provides access to a suite of predictive global models for exploration, tools for subsurface visualization, and analytical capabilities. Together, these capabilities increase subsurface accuracy to reduce exploration risk and improve confidence in decision-making.

“We look forward to collaborating with Teck and supporting their mineral exploration and digital transformation in the mining sector,” said Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions and Consulting.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

For Investors:
David Coleman
Investor Relations
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281-871-2692

For News Media:
William Fitzgerald
External Affairs
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281-871-2601

ESS Inc. CEO Eric Dresselhuys is founding member

WILSONVILLE, Ore.--(BUSINESS WIRE)--$GWH #COP26--ESS Tech, Inc. (NYSE:GWH) (“ESS” or “ESS Inc), a manufacturer of long-duration iron flow batteries for utility-scale and commercial energy storage applications, announces its participation in the Long-Duration Energy Storage (LDES) Council launched today at COP26.

The global, CEO-led LDES Council seeks to accelerate decarbonization of the energy system and provide guidance to governments and grid operators on how LDES technologies can help achieve this at the lowest overall cost to society. Between 85 and 140 terawatt-hours (TWh) of LDES deployment will be required to achieve grid net-zero by 2040, according to the Council’s forthcoming report set to publish on November 23, 2021. The Council also estimates that at least 1 TWh of LDES deployment is needed by 2025 to put the global power sector on track for full decarbonization by 2040.

“ESS commends the formation of the LDES Council and is proud to be a founding member of an organization committed to global decarbonization,” says ESS Inc. CEO and LDES Council founding member Eric Dresselhuys. “As an industry, we are uniting to provide our expertise and experience to accelerate energy sector transformation with long-duration energy storage as a key enabler of clean, reliable power grids.”

The LDES Council is made up of 24 technology companies, users and investors. Deployment of LDES technologies in line with its projections would require a $1.5 to $3 trillion investment and facilitate an increase in dispatchable renewable energy used to eliminate the 1.5 to 2.3 Gigatons (Gt) of CO2 produced annually, equivalent to 10-15% of today’s total power emissions.

ESS joins other LDES Council founding members that also include Alfa Laval, BP, Breakthrough Energy Ventures, Form Energy, Highview Power, Siemens Energy, and others.

More information can be found at www.ldescouncil.com.

About the LDES Council

The LDES Council is a global, CEO-led organization that strives to accelerate decarbonization of the energy system at lowest cost to society by driving innovation, commercialization and deployment of long-duration energy storage.

The LDES Council provides fact-based guidance and information to governments, industry and broader society, drawing from the experience of its members, which include leading energy companies, technology providers, investors and end-users.

About ESS Inc.

ESS Inc. (NYSE:GWH) designs, builds and deploys environmentally sustainable, low-cost, iron flow batteries for long-duration commercial and utility-scale energy storage applications requiring from 4 to 12 hours of flexible energy capacity. The Energy Warehouse™ and Energy Center™ use earth-abundant iron, salt, and water for the electrolyte, resulting in an environmentally benign, long-life energy storage solution for the world’s renewable energy infrastructure. Established in 2011, ESS Inc. enables project developers, utilities, and commercial and industrial facility owners to make the transition to more flexible non-lithium-ion storage that is better suited for the grid and the environment. For more information visit www.essinc.com.

Investors:
Erik Bylin
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Media:
Gene Hunt
Trevi Communications, Inc.
978.750.0333 x.101
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DUBLIN--(BUSINESS WIRE)--The "Renewable Energy Global Group of Eight (G8) Industry Guide - Market Summary, Competitive Analysis and Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The G8 Renewable Energy industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

• The G8 countries contributed $248,359.0 million in 2020 to the global renewable energy industry, with a compound annual growth rate (CAGR) of 7.4% between 2016 and 2020. The G8 countries are expected to reach a value of $321,668.7 million in 2025, with a CAGR of 5.3% over the 2020-25 period.
• Among the G8 nations, the US is the leading country in the renewable energy industry, with market revenues of $97,969.0 million in 2020. This was followed by Japan and Canada, with a value of $43,355.6 and $37,259.7 million, respectively.
• The US is expected to lead the renewable energy industry in the G8 nations with a value of $134,563.6 million in 2016, followed by Japan and Canada with expected values of $57,266.5 and $42,550.5 million, respectively.

Reasons to Buy

• What was the size of the G8 renewable energy market by value in 2020?
• What will be the size of the G8 renewable energy market in 2025?
• What factors are affecting the strength of competition in the G8 renewable energy market?
• How has the market performed over the last five years?
• What are the main segments that make up the G8 renewable energy market?

Key Topics Covered:

1 Introduction

2 Group of Eight (G8) Renewable Energy

3 Renewable Energy in Canada

4 Renewable Energy in France

5 Renewable Energy in Germany

6 Renewable Energy in Italy

7 Renewable Energy in Japan

8 Renewable Energy in Russia

9 Renewable Energy in The United Kingdom

10 Renewable Energy in The United States

11 Company Profiles

11.1. BC Hydro

11.2. Hydro-Quebec

11.3. Ontario Power Generation Inc.

11.4. TransAlta Corporation

11.5. Direct Energie SA

11.6. Electricite de France SA

11.7. Engie SA

11.8. EnBW Energie Baden-Wuerttenberg AG

11.9. Edison S.p.A.

11.10. Enel Green Power SpA

11.11. Eni S.p.A

11.12. The Tokyo Electric Power Company Holdings., Incorporated

11.13. Tohoku Electric Power Company, Incorporated

11.14. The Kansai Electric Power Co, Incorporated

11.15. Iberdrola, S.A.

11.16. RusHydro

11.17. Enel Russia

11.18. Territorial Generating Company No.1. JSC

11.19. Orsted AS

11.20. E.ON Climate & Renewables GmbH

11.21. SSE Plc.

11.22. EDF Energy Renewables Ltd

11.23. NextEra Energy, Inc.

11.24. Enel Green Power North America Inc.

11.25. General Electric Company

11.26. First Solar, Inc.

12 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/ufng6p

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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- Under the theme of Carbon Neutrality, the exposition presents future energy technologies and declares KEPCO’s carbon neutrality vision

- Held for three days starting on November 10, 2021 online and onsite, participated by 248 companies from Korea and other countries

GWANGJU, South Korea--(BUSINESS WIRE)--#2050CarbonNeutralityVision--Korea Electric Power Corporation (President & CEO Cheong Seung-il, KEPCO) (KRX:015760) hosts the Bitgaram International Exposition of Electric Power Technology 2021 (BIXPO 2021) on November 10-12, 2021 to introduce future technologies in the energy industry. Hosted at the Kim Dae Jung Convention Center in Gwangju, the exposition is also held online simultaneously.

Marking its 7th year, the BIXPO 2021 will undoubtedly be a comprehensive international energy exposition that presents future technologies and direction of the energy industry, including renewable energies and energy efficiency, under the theme of Carbon Neutrality, the global critical issue.

KEPCO has been hosting the BIXPO to provide the global energy industry with opportunities to share the latest technologies and expand exchanges and collaborations between leading companies in Korea and other countries.

The event this year features keynote addresses by Ban Ki-moon, former Secretary General of the United Nations, and Angela Wilkinson, Secretary General of the World Energy Council (WEC).

At the ceremony of declaring the carbon neutrality vision, Cheong Seung-il, President of KEPCO, initially declares the company’s vision of achieving carbon neutrality by 2050, and discusses its significance.

To help Korea achieve the carbon neutrality goal on schedule, KEPCO plans to lead decarbonization in the energy transition sector by innovating power supply systems, and to fully support other implementation segments, such as overall industry, transportation and buildings.

As part of its efforts to reduce greenhouse gas, KEPCO will demonstrate major technologies and policies for addressing the climate crisis by composing realistic content, such as smart tables and videos of future vision.

At the Energy Leaders Summit, the primary conference of BIXPO, experts from international organizations in the energy sector including the WEC, International Renewable Energy Agency (IRENA) and International Energy Agency (IEA) will discuss global trends of implementing commitment for carbon neutrality by 2050. Also, chief executive officers and chief technology officers at global utilities will disclose commitment to achieving imminent carbon neutrality goals and action plans for achieving such goals of their respective countries.

Visitors who are difficult to participate in person in the event can take part in a variety of events online. Visitors who entered metaverse cyberspace installed in the online platform can visit each booth using their avatars as though they visit real-world booths to view videos of new technologies and directly communicate with exhibitors via voice and text chatting channels.

Major events such as the opening ceremony and international conferences can be viewed in real-time telecasts and recorded videos.

For more information, please visit the website (https://www.bixpo.kr/).

For KEPCO
PR HOUSE
Ara Jo
+82 (70) 4278-1938
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SALES, GROSS PROFIT AND BACKLOG UP; 2022 OUTLOOK: REVENUE UP 25%

LOUISVILLE, Ky.--(BUSINESS WIRE)--Sypris Solutions, Inc. (Nasdaq/GM: SYPR) today reported financial results for its third quarter ended October 3, 2021.

HIGHLIGHTS

─────────────────────

• Revenue for the third quarter increased 15.9% year-over-year, driven by the 38.3% expansion of shipments at Sypris Technologies, despite the impact of material shortages and supply chain challenges.
• Gross profit increased 12.4% year-over-year, reflecting the 14.5% growth at Sypris Electronics and 10.6% increase for Sypris Technologies. Gross margin increased 460 basis points to 20.8% for Sypris Electronics, while gross margin for Sypris Technologies declined to 12.6% reflecting mix and expenses incurred to increase capacity.
• Backlog for Sypris Electronics increased 24.0% year-over-year and 51.3% year-to-date on the strength of orders in the first nine months of 2021. Similarly, backlog for the energy products of Sypris Technologies increased 38.8% year-over-year and 59.6% year-to-date.
• Sypris Electronics announced a number of important contract awards during the quarter, including the following:
  • A contract to manufacture and test embedded circuit card assemblies that will perform certain Cryptographic functions for the Army Key Management System, with production to begin before year-end; and
  • A contract to produce and test multiple power supply modules for the upgrade of the electronic warfare suite of certain U.S. fighter jets. The system will deliver fully integrated radar warning, situational awareness, geolocation and self-protection capabilities. Production is expected to begin during the first quarter of 2022.
• The Company updated its full-year outlook for 2021, with revenue now expected to increase 20-25% year-over-year, down from prior guidance due to supply chain challenges. Gross margin is expected to expand 400-500 basis points year-over-year in the fourth quarter and contribute to strong double-digit percentage growth in cash flow generated from operations for the full year.
• The outlook for 2022 remains quite positive, reflecting the continued momentum of new contract awards and strong demand across many of the Company’s markets. Revenue for 2022 is forecast to increase 25%, gross margins are expected to expand 200 basis points, and cash flow from operations is forecast to increase materially year-over-year.

────────────────────

“Both operating segments reported gross profit growth for the quarter, contributing to a strong performance for the Company and positioning the business for further progress. Backlog for Sypris Electronics is up 24.0% from the third quarter of 2020 and up 51.3% since the beginning of the year, while the OEM backlog of Class 8 commercial vehicles is estimated to be up 210% year-over-year,” commented Jeffrey T. Gill, President and Chief Executive Officer.

“Backlog for Sypris Electronics in 2021 remains at its highest point in over a decade, with deliveries now scheduled well into 2023. While shipments during the quarter were impacted by the delayed receipt of material necessary to complete the build of certain products, we expect shipments from our recent contract wins to begin to contribute to revenue in the fourth quarter and provide meaningful growth in the top line going forward. In support of the expected increase in shipments, we secured customer funding for certain key programs to partially fund an increase in our inventories which should help to minimize production disruptions arising from supply chain constraints over the term of the related contracts.

“Demand from customers serving the automotive, commercial vehicle, sport utility, and off-highway markets remains strong, although our revised guidance is primarily driven by customer production levels that are lower than what we had previously anticipated. Freight demand is currently overwhelming industry capacity, with supply chain constraints currently dictating OEM production levels, which is flowing down and impacting demand for our products. Although the near-term outlook remains constrained, we have a clear path to capitalize on our growth objectives going forward as the various challenges facing this industry begin to subside.

“As we discussed on our previous earnings call, activity levels in the oil and gas industry remained challenging during the first nine months of 2021. However, steadily improving commodity prices, gradually reopening economies and increasing pipeline activity have resulted in increased orders recently of our energy related products, and an expected increase in volume during the fourth quarter of 2021 is well supported by a solid backlog of orders.”

Third Quarter Results

The Company reported revenue of $25.7 million for the third quarter of 2021, compared to $22.2 million for the prior-year period. Additionally, the Company reported net income of $0.3 million for the third quarter of 2021, or $0.01 per diluted share, compared to net income of $3.5 million, or $0.17 per diluted share, for the prior-year period. Results for the quarter ended October 4, 2020, include an income tax benefit of $3.2 million, primarily from the release of a valuation allowance on certain foreign deferred tax assets.

For the nine months ended October 3, 2021, the Company reported revenue of $71.6 million compared with $61.7 million for the first nine months of 2020. The Company reported net income for the nine-month period of $2.5 million, or $0.11 per diluted share, compared with $2.8 million, or $0.14 per diluted share, for the prior-year period. Results for the nine months ended October 3, 2021, include the recognition of a $3.6 million gain on the forgiveness of the Company’s PPP loan. Results for the nine months ended October 4, 2020, include net gains of $0.8 million from the sale of idle assets by Sypris Technologies and an income tax benefit of $3.2 million, primarily from the release of a valuation allowance on certain foreign deferred tax assets.

Sypris Technologies

Revenue for Sypris Technologies was $16.7 million in the third quarter of 2021 compared to $12.1 million for the prior-year period, reflecting the positive impact of new programs and the strength of the commercial vehicle market, partially offset by decreased energy related product sales. Gross profit for the third quarter of 2021 was $2.1 million, or 12.6% of revenue, compared to $1.9 million, or 15.8% of revenue, for the same period in 2020. Gross profit for the third quarter of 2021 was negatively impacted by product mix, increased operating supply spend and equipment maintenance expenses as we prepare for higher production levels anticipated in 2022.

Sypris Electronics

Revenue for Sypris Electronics was $9.0 million in the third quarter of 2021 compared to $10.1 million for the prior-year period. Shipments during the third quarter of 2021 were lower than the prior-year period as production tapered down on a limited rate production contract for a key program that is expected to ramp up beginning late in the fourth quarter as full rate production is launched. Certain programs have also been impacted by material availability, as receipts of a limited number of specific parts necessary to complete the build of the products were delayed or, in other instances, required us to resource and obtain alternative parts or use alternative suppliers. Gross profit for the third quarter of 2021 was $1.9 million, or 20.8% of revenue, compared to $1.6 million, or 16.2% of revenue, for the same period in 2020 due to a more favorable mix.

Outlook

Commenting on the future, Mr. Gill added, “While challenging supply chain conditions impacted our third-quarter results and forecast for the remainder of the year, the overall outlook for the U.S. economy remains positive. Demand is up considerably year-over-year from customers serving the automotive, commercial vehicle and sport utility markets, with Class 8 forecasts showing year-over-year production increases of over 22.9% for 2021, 18.3% in 2022 and an additional 15.5% in 2023. Similarly, demand from customers in the defense and communications sector remains robust. While the energy market continues to be volatile, we continue to secure new orders on important projects around the world.

“We expect the significant growth in orders and strength of our markets to have a substantial impact on our financial results through the remainder of the year and into 2022, with strong increases in revenue, margins and income forecast for the period and continuing going forward.

“We have updated our outlook to include a 20-25% growth in the Company’s top line in 2021, which is down from our previous guidance. Gross margin is forecast to expand in the fourth quarter 400-500 basis points over the comparable period in 2020, which is expected to contribute to strong double-digit percentage growth in cash flow generated from operations for the full year.

“As we close out this year and prepare for 2022, we remain focused on meeting the important needs of our customers who serve defense, communications, energy, transportation, and other critical infrastructure industries. In our initial outlook for 2022, we expect the top line to increase 25% year-over-year as a result of the combined strength of our backlog for Sypris Electronics, the Class 8 industry production forecasts and improving market conditions for our energy products. We also expect to achieve further gross margin expansion in the range of 200 basis points in 2022, while cash flow from operations is forecast to materially increase year-over-year.”

About Sypris Solutions

Sypris Solutions is a diversified provider of truck components, oil and gas pipeline components and aerospace and defense electronics. The Company produces a wide range of manufactured products, often under multi-year, sole-source contracts. For more information about Sypris Solutions, visit its Web site at www.sypris.com.

Forward Looking Statements

This press release contains “forward-looking” statements within the meaning of the federal securities laws. Forward-looking statements include our plans and expectations of future financial and operational performance. Such statements may relate to projections of the company’s revenue, earnings, and other financial and operational measures, our liquidity, our ability to mitigate or manage disruptions posed by the current coronavirus disease (“COVID-19”), and the impact of COVID-19 and economic conditions on our future operations, among other matters. The COVID-19 pandemic has resulted, and is likely to continue to result, in significant economic disruption and has and will likely adversely affect our business. The Company has continued to operate at each location and sought to remain compliant with government regulations imposed due to the COVID-19 pandemic.

Each forward-looking statement herein is subject to risks and uncertainties, as detailed in our most recent Form 10-K and Form 10-Q and other SEC filings. Briefly, we currently believe that such risks also include the following: the impact of COVID-19 and economic conditions on our future operations; possible public policy response to the pandemic, including legislation or restrictions that may impact our operations or supply chain; the impact of potential U.S. Government COVID-19 vaccine mandates on our ability to attract and retain employees and on our business and results of operations; our failure to successfully complete final contract negotiations with regard to our announced contract “orders”, “wins” or “awards”; our failure to successfully win new business; the termination or non-renewal of existing contracts by customers; our failure to achieve and maintain profitability on a timely basis by steadily increasing our revenues from profitable contracts with a diversified group of customers, which would cause us to continue to use existing cash resources or require us to sell assets to fund operating losses; breakdowns, relocations or major repairs of machinery and equipment, especially in our Toluca Plant; volatility of our customers’ forecasts especially in the commercial truck markets and our contractual obligations to meet current scheduling demands and production levels (especially in our Toluca Plant), which may negatively impact our operational capacity and our effectiveness to integrate new customers or suppliers, and in turn cause increases in our inventory and working capital levels; cost, quality and availability or lead times of raw materials such as steel, component parts (especially electronic components), natural gas or utilities; the cost, quality, timeliness, efficiency and yield of our operations and capital investments, including the impact of tariffs, product recalls or related liabilities, employee training, working capital, production schedules, cycle times, scrap rates, injuries, wages, overtime costs, freight or expediting costs; dependence on, retention or recruitment of key employees and distribution of our human capital; inaccurate data about markets, customers or business conditions; disputes or litigation involving governmental, supplier, customer, employee, creditor, stockholder, product liability, warranty or environmental claims; the fees, costs and supply of, or access to, debt, equity capital, or other sources of liquidity; our ability to comply with the requirements of the SBA and maintain forgiveness of all or a portion of our Paycheck Protection Program loan; our inability to develop new or improved products or new markets for our products; our reliance on a few key customers, third party vendors and sub-suppliers; inventory valuation risks including excessive or obsolescent valuations or price erosions of raw materials or component parts on hand or other potential impairments, non-recoverability or write-offs of assets or deferred costs; other potential weaknesses in internal controls over financial reporting and enterprise risk management; failure to adequately insure or to identify product liability, environmental or other insurable risks; unanticipated or uninsured disasters, public health crises, losses or business risks; unanticipated or uninsured product liability claims; the costs of compliance with our auditing, regulatory or contractual obligations; labor relations; strikes; union negotiations; pension valuation, health care or other benefit costs; costs associated with environmental claims relating to properties previously owned; our inability to patent or otherwise protect our inventions or other intellectual property from potential competitors; adverse impacts of new technologies or other competitive pressures which increase our costs or erode our margins; our reliance on revenues from customers in the oil and gas and automotive markets, with increasing consumer pressure for reductions in environmental impacts attributed to greenhouse gas emissions and increased vehicle fuel economy; U.S. government spending on products and services that Sypris Electronics provides, including the timing of budgetary decisions; changes in licenses, security clearances, or other legal rights to operate, manage our work force or import and export as needed; risks of foreign operations; currency exchange rates; war, terrorism, or political uncertainty; cyber security threats and disruptions; our ability to maintain compliance with the Nasdaq listing standards minimum closing bid price; risk related to owning our common stock including increased volatility; or unknown risks and uncertainties. We undertake no obligation to update our forward-looking statements, except as may be required by law.

Anthony C. Allen
Chief Financial Officer
(502) 329-2000

DUBLIN--(BUSINESS WIRE)--The "North America Hydrogen Market - Overview, Demand, Policies, Deals and Key Players" report has been added to ResearchAndMarkets.com's offering.

Hydrogen markets are taking off around the world, and the publisher expects low-carbon hydrogen production in North America to nearly triple by 2030, reaching 1.4 million tons per annum (mtpa).

North America has been increasing investments in new sectors for hydrogen, such as transportation, green fuels, and power, in line with the global trend toward hydrogen as a clean energy transition fuel.

In a reversal of the global trend towards green hydrogen, 85% of upcoming low-carbon hydrogen capacity North America is blue hydrogen. Blue hydrogen production in North America is some of the cheapest in the world due to low natural gas prices and an abundance of suitable sites for geological carbon storage.

Scope

• Analyze market trends for hydrogen production and demand in North America
• Review of deals and partnerships in the hydrogen sector
• Geographies covered include - North America
• Evaluation of the costs of hydrogen production routes
• Review of hydrogen policies and funding

Reasons to Buy

• Understand hydrogen trends and opportunities in North America
• Identify which sectors will drive hydrogen demand
• Assess what conditions are likely to reduce the cost of low-carbon hydrogen
• Understand which companies are the most active in the North American market

Key Topics Covered:

• Overview
• Executive Summary
• Hydrogen Production Routes
• North America in the Global Context
• Low Carbon Hydrogen in North America
• Global Upcoming Capacity
• Upcoming Capacity in North America

2030 Production Capacity Scenarios

• Major Projects in North America
• Future Hydrogen Demand
• US Demand Scenarios
• End-use Sectors
• Demand in Oil Refining + Chemicals
• Demand in Transportation
• Demand in Biofuels + Synfuels
• Demand in Power + Industry
• Economics of Low Carbon Hydrogen
• Blue Hydrogen Feasibility
• Costs of Grey, Blue, & Green H2
• Green Hydrogen Cost Factors
• Policies, Deals, & Key Players
• US Policies & Funding
• Canada Policies & Funding
• Deals & Partnerships
• Company Filing Trends
• Key Players in North America

For more information about this report visit https://www.researchandmarkets.com/r/cfvo1b

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
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DUBLIN--(BUSINESS WIRE)--The "North America Capacity and Capital Expenditure Outlook for LNG Liquefaction Terminals to 2025 - Capacity and Capital Expenditure Outlook with Details of All Planned and Announced (New Build and Expansion) LNG Liquefaction Terminals" report has been added to ResearchAndMarkets.com's offering.

North America's LNG liquefaction capacity is expected to grow by more than 200 percent over the next four years, potentially increasing from 72.9 million tonnes per annum (mtpa) in 2021 to 241.6 mtpa in 2025 from planned and announced projects.

Among countries, the United States dominates North America with 130.5 mtpa of liquefaction capacity additions by 2025. Mexico and Canada follow with capacities of 26.0 mtpa and 16.8 mtpa, respectively.

Scope

• North America LNG liquefaction capacity outlook for 2021 to 2025 by countries
• New build and expansion capex outlook in North America by country and key companies
• Details of the major planned and announced LNG liquefaction projects in North America up to 2025

Reasons to Buy

• Obtain the most up to date information available on the LNG liquefaction projects in North America
• Identify growth segments and opportunities in the North America LNG industry
• Facilitate decision making on the basis of strong LNG liquefaction capacity data
• Develop business strategies with the help of specific insights about LNG liquefaction projects in North America
• Keep abreast of key planned and announced LNG liquefaction projects in North America
• Assess your competitor's planned and announced LNG liquefaction projects and capacities

Key Topics Covered:

1 Table of Contents

1.1 List of Tables

1.2 List of Figures

2. North America LNG Liquefaction Industry Outlook to 2025

2.1 Key Highlights

3. North America LNG Liquefaction Capacity and Capex Outlook

3.1 New Build and Expansion Capacity Outlook by Countries

3.2 New Build and Expansion Capex Outlook by Countries

3.3 New Build and Expansion Capex Outlook by Key Companies

4. North America LNG Liquefaction Capex Outlook by Country and Company

4.1 United States - New Build and Expansion Capex Outlook

4.2 United States - New Build and Expansion Capex Outlook by Key Companies

4.3 Canada - New Build and Expansion Capex Outlook

4.4 Canada - New Build and Expansion Capex Outlook by Key Companies

4.5 Mexico - New Build and Expansion Capex Outlook

4.6 Mexico - New Build and Expansion Capex Outlook by Key Companies

5. North America Planned and Announced LNG Liquefaction Terminals

6. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/auja54

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Intent to purchase an EV among U.S. consumers increases dramatically when provided the option to wirelessly charge

More education and experience with EVs will produce more EV owners, too

WATERTOWN, Mass.--(BUSINESS WIRE)--A new research study conducted by TideWatch Partners, an independent market research firm, finds that wireless charging significantly increases the likelihood of a consumer purchasing an electric vehicle (EV) in the U.S. For those already intending to purchase an EV, their likelihood to purchase increased 40% – from 60% to 84% – when presented with wireless charging as an alternative to plugging in. The increase was even greater – nearly 70% – for people less certain about purchasing an EV.

The study, commissioned by WiTricity, aimed to uncover what it would take to accelerate the adoption of EVs among U.S. car owners. It is based on results of a September 2021 survey of more than 1,000 U.S.-based adult EV Owners, “EV Intenders” (those intending to purchase an EV in the next 18 months), and “EV Considerers” (those intending to purchase an EV in the next 5 years).

Over the summer, the U.S. joined other countries in proposing EV policies aimed to fight climate change by announcing a goal that half of all new vehicles sold in the U.S. by 2030 be electric. However, the U.S. has some work to do: according to a recent Pew Research Center survey, only 7% of U.S. adults currently have an electric or hybrid vehicle. WiTricity’s study evaluated attitudes and orientations toward EVs, and EV charging in particular, to determine barriers for consumer EV adoption and opportunities for automakers to increase sales of EVs.

The study found that education, experience, and better charging options will propel EV adoption amongst U.S. consumers.

Wireless Charging Significantly Increases Likelihood of EV Purchase

Eighty-one percent (81%) of all consumers surveyed are very or extremely interested in EV wireless charging. Respondents agree that wireless charging makes EV charging easier (72%) and more convenient (68%), and almost 2 in 3 (63%) say they’d like to see wireless charging in public EV charging stations.

Automakers looking to compete for share of the growing EV market will need to differentiate – and EV wireless charging is one way to do so, as evidenced by:

• EV Considerers, who need the most convincing to purchase an EV, indicated that their intent to purchase increased almost 70% (from 35% to 59%) if wireless charging were an option, significantly improving the odds for EV adoption.
• EV Intenders’ intent to purchase in the next 18 months increased by 40% (from 60% to 84%).
• EV Owners were already very likely to purchase an EV again (91%), but 96% of them say that they are extremely or very interested in an EV equipped for wireless charging.

“The research shows consumers want wireless charging for their EVs,” said WiTricity CEO Alex Gruzen. “Automakers can sell more EVs when equipped with our proven wireless charging technology. Let’s improve the EV ownership experience, remove a real barrier to EV adoption, and welcome in the next wave of new EV owners.”

Experience and Education is Necessary Amongst EV Considerers and Intenders

Battery range anxiety is common among people who don’t own an EV – 41% of EV Considerers are worried that they won’t be able to go as far as they need to on a single charge. Those who have made the leap to EV ownership are 50% less likely to share that concern. EV Owners are also 50% less likely to worry about the time it takes to charge. EV Owners report driving an average of 97 miles/day, which is well within the battery range of today’s EVs, and most (74%) charge at home.

Further, once people purchase an EV, they love them. EV Owners have a Net Promoter Score (NPS) of 82%, are satisfied with their car, and 81% are likely to recommend one to others. The virtual unanimity among EV owners in their interest for wireless charging will become another benefit for them to point to as they champion their cars to others. GenX owners are even more passionate about their EV and are 10% more likely to recommend their EV than the average owner.

Charging issues overall are the major barriers for EV adoption, and wireless charging can significantly help to reduce those barriers. The availability of wireless charging increases purchase intent, will bring new owners to EVs, and will help expand the market beyond today’s early adopters.

To download the report, visit here. For more information on WiTricity’s automotive solutions, visit here.

About WiTricity

WiTricity is the global industry leader in wireless charging, powering a sustainable future of mobility that is electric and autonomous. WiTricity’s patented magnetic resonance technology is being incorporated into global automakers’ and Tier 1 suppliers’ EV roadmaps and is the foundation of major global standards developed to support wide-scale adoption. Advancements like dynamic charging of moving vehicles, and the charging of autonomous robots and vehicles without human intervention all depend on WiTricity technology. See how WiTricity enables a magically simple, efficient charging experience.

Allison Webster for WiTricity
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617-426-2222

NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, joins the United Nations Race to Zero campaign by signing the SME Climate Commitment. As part of the commitment, FREYR pledges to halve its greenhouse gas emissions before 2030, achieve net zero emissions before 2050, and disclose progress on a yearly basis.

“We are on a mission to decarbonize the society for a better planet. It is an obvious step for us to join the governments and businesses around the world to take immediate action to tackle climate change,” said Tom Einar Jensen, the CEO of FREYR.

The small and medium-sized enterprises (SME) Climate Commitment provides SMEs with the opportunity to make an internationally recognized climate commitment which is aligned with the latest climate science. SMEs that make the SME Climate Commitment will be recognized by the United Nations Race to Zero campaign and join a wide range of governments, businesses, cities, regions, and universities around the world that are committed to achieving net zero carbon emissions.

“The science is clear, climate change poses a real threat to the economy, nature, and the society. We are proud to join the other SMEs around the globe on the journey towards net zero emissions. Together, we can make a real impact in cutting the carbon emissions to protect our planet for future generations,” said Elizabeth Tate, VP Sustainability.

In November 2021, the UK is hosting the UN Climate Change Conference (COP26) in Glasgow that helps accelerate collaboration amongst governments, businesses, and civil society to deliver on climate goals faster. In addition to signing the SME Climate Commitment, Tom Einar Jensen, the CEO of FREYR will be speaking at The Building a Better Battery panel led by the US Department of Energy.

About FREYR Battery

FREYR plans to develop up to 43 GWh of battery cell production capacity by 2025 with an ambition of up to 83 GWh in total capacity by 2028 to position the company as one of Europe’s largest battery cell suppliers. Five of the facilities will be located in the Mo i Rana industrial complex in Northern Norway, leveraging Norway’s highly skilled workforce and abundant, low-cost renewable energy sources from hydro and wind in a crisp, clear, and energized environment. FREYR will supply safe, high-energy density and cost competitive clean battery cells to the rapidly growing global markets for electric vehicles, energy storage, and marine applications. FREYR is committed to supporting cluster-based R&D initiatives and the development of an international ecosystem of scientific, commercial, and financial stakeholders to support the expansion of the battery value chain in our region. For more information, please visit www.freyrbattery.com.

About the SME Climate Hub

The SME Climate Hub is an initiative founded by the International Chamber of Commerce, the Exponential Roadmap Initiative, the We Mean Business coalition and the UNFCCC Race to Zero campaign. It aims to support small and medium-sized businesses to build business resilience, both financially and environmentally, by providing access tools, incentives and other resources that make it easier to cut carbon emissions and bring innovative green solutions to market.

Forward-looking Statements

All statements, other than statements of present or historical fact included in this press release, including, without limitation, statements regarding FREYR’s pledge to halve its greenhouse gas emissions before 2030 and achieve net zero emissions before 2050, FREYR’s impact on cutting carbon emissions and FREYR’s yearly progress towards fulfilling the SME Climate Commitment pledges are forward-looking and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.

Most of these factors are outside FREYR’s control and difficult to predict. Information about factors that could materially affect FREYR is set forth under the “Risk Factors” section in FREYR’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the "SEC") on August 9, 2021, as amended, and in other SEC filings available on the SEC’s website at www.sec.gov.

Media contact:
Katrin Berntsen
Vice President, Communication and Public Affairs
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Tel: (+47) 9920 54 570

Investor contact:
Jeffrey Spittel
Vice President, Investor Relations
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Tel: (+1) 281-222-0161

The Energy Solutions Division of Mantis Innovation was recently named the ABC (Aggregators, Brokers, and Consultants) of the Year by The Energy Professionals Association (TEPA) during their national conference in Austin, Texas

HOUSTON--(BUSINESS WIRE)--#TEPA--Mantis Innovation, provider of smart, sustainable solutions to improve facility performance, announced today that its Energy Solutions division received the 2021-2022 TEPA (The Energy Professionals Association) ABC (Aggregators, Brokers, and Consultants) of the Year award presented during the 16th Annual TEPA Conference last week in Austin, Texas. The award is voted on by TEPA’s Supplier membership and is intended to recognize the outstanding ABC Member company in categories such as overall satisfaction, ease of doing business, ethical business practices, customer service, and market knowledge.

TEPA currently has more than 150 member organizations, representing over 10,000 energy professionals specializing in procurement, renewable energy, advancements in energy technologies, and more. Since 2014, TEPA has presented these awards to outstanding members in deregulated retail energy markets across the country. This has become a highly sought-after honor among energy professionals that meet TEPA’s standards of ethics, education, and advocacy in the market.

“Achievements such as this reflect the quality of solutions we’re providing for clients and position Mantis as a trusted leader in our industry,” said Steve Campbell, President of Energy Solutions, Mantis Innovation. “We pride ourselves on our ability to develop and maintain strong supplier relationships, including holding data-driven quarterly reviews, which have been acknowledged as some of the best in the industry. We are honored to be recognized by TEPA for these efforts.”

“We’re excited to recognize Mantis Innovation as our 2021-2022 TEPA ABC of the Year for their hard work in retail energy markets across the country,” said Shannon McGriff, Executive Director, TEPA. “Their excellent reputation amongst suppliers and customers continues to raise the industry standard. We not only appreciate their efforts to build up this industry, but the value they bring to TEPA and the clients they serve.”

This award marks the third of its kind for Mantis Innovation in just two months. The Energy Solutions division recently won two ABC Excellence Awards for Overall Satisfaction and Share of Supplier Top 5 by the Energy Research Consultant Group (ERCG).

About Mantis Innovation
Mantis Innovation is the premier provider of smart solutions that deliver better building performance through managed facility services and turnkey program management. Mantis leverages expertise from a vast array of professional disciplines in engineering, comprehensive data collection and analysis, technology-enabled solutions, and a network of trusted partners. The Mantis Innovation managed solutions include energy procurement, demand management, solar, roofing, building envelope, pavement, LED lighting, HVAC/mechanical, building automation systems, and data center optimization. Mantis is headquartered in Houston, Texas, with 17 locations across the United States from Massachusetts to Washington.

Learn more at https://mantisinnovation.com/.

Press
Mantis Innovation
Caroline Haley
Marketing Director
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(978) 394-8670

FRANKLIN, Tenn.--(BUSINESS WIRE)--Eco-Energy, an energy solutions and midstream company with a long history in renewable energy, announces the appointment of Soren Schroder, former CEO of Bunge, as the new independent member of the company's board of directors.

The 60-year-old Danish economist assumes this new position, in the company fully owned by Copersucar since 2017, with the aim to promote increased global use of clean energy and to create value for society from fuels with lower carbon intensity. His broad experience of 35 years in the agribusiness sector in the United States and Europe, with stints at companies such as Continental Grain Company, Cargill and as CEO of Bunge North America, will reinforce Eco-Energy’s leadership in the domestic market and expand the biofuels industry to other markets.

Founded in 1992 and headquartered in Franklin, Tennessee, Eco-Energy is an integrated energy marketer and coast to coast midstream fuel company with $4 billion in annual revenues. The company is leveraging its platform to find solutions for emissions reduction through low carbon renewable energy. Together with Copersucar, Eco-Energy has created one of the largest business platforms for ethanol in the world.

More details about Eco-Energy, visit the link: www.eco-energy.com

More details about Copersucar, visit the link: http://www.copersucar.com.br

Craig Willis, This email address is being protected from spambots. You need JavaScript enabled to view it.

Schoeller Bleckmann Oilfield Technology Purchases First End-to-end Solution—Including the Sapphire^® Printer—in Europe to Expand its Additive Manufacturing Capabilities, Will Join Velo3D at Formnext 2021

AUGSBURG, Germany--(BUSINESS WIRE)--(Formnext 2021) - Velo3D, Inc. (NYSE: VLD), a leading metal additive manufacturing technology company for mission-critical parts, has expanded its European presence to support its growth efforts in the region. The expansion includes the opening of a technical center in Augsburg, Germany, where Velo3D’s Sapphire^® systems will be assembled and demonstrated, as well as delivering the first end-to-end manufacturing solution to Schoeller-Bleckmann Oilfield (SBO) Technology, a European contract manufacturer specializing in the production of high-value metal parts for the oil and gas industry. Both companies will be at Formnext 2021, the leading additive manufacturing conference in Europe, taking place on November 16-19, 2021, in Frankfurt, Germany.

“Europe is a key market for Velo3D’s growth in the coming years and we’re thrilled to deliver our first end-to-end additive manufacturing solution and open our new technical center to accelerate this expansion,” said Benny Buller, Velo3D CEO and Founder. “With Velo3D’s end-to-end solutions, seeing is believing, and at our Augsburg facility, we’ll be able to demonstrate our impressive additive manufacturing technology in person to customer prospects. We’re also pleased to be launching in Europe with our first customer, SBO, supporting its effort to expand its capabilities and service new industries using our Sapphire^® system.”

SBO is a multinational corporation with 1,130 employees worldwide operating more than 450 conventional CNC machines. The company’s U.S.-based subsidiary, Knust-Godwin LLC, has extensively validated Velo3D’s end-to-end additive manufacturing technology in its Houston facility and is using its solutions to build production parts for its customers in the aerospace and oil and gas industries. SBO’s new Sapphire^® system will be located in the company’s Austrian headquarters and will unlock the ability to print complex metal parts in Inconel 718. SBO has EN 9100, ISO 9001, and ISO 14001 certifications, which allow it to develop and produce parts for aerospace customers, as well as other industries, while also meeting certain standards for quality and environmental management.

“By adding Velo3D’s innovative additive manufacturing solution to our capabilities, we will be able to expand into new markets and service new customers, helping them build metal parts that were previously thought impossible to create,” said Campbell MacPherson, SBO EVP of Advanced Manufacturing. “Over the past few years, many of our customers have inquired about 3D printing. Velo3D’s ability to create parts without having to design them for additive manufacturing makes it stand out compared to other solutions. Its end-to-end solution is very complementary to our existing offerings and will allow us to greatly improve the supply chain for our customers.”

Velo3D’s new European Technology Center will allow the additive manufacturing technology company to better service customers like SBO by enabling company leaders to demonstrate its advanced 3D printing capabilities. The facility will be located at the Augsburg Innovations Park in Augsburg, Germany, and will include more than 110 square meters (1,200 square feet) of space across a main hall (which will house Sapphire^® systems), a lab area, and offices. It also includes conference rooms for hosting customers for presentations, events, and other meetings.

“The feedback we’ve received from engineers and additive manufacturing experts across Europe is that Velo3D’s technology delivers novel capabilities in geometry, quality, and scalability,” said Zach Murphree, Velo3D VP of Global Sales and Business Development. “By taking delivery of our first machine in Europe, SBO stands to differentiate itself in the European contract manufacturer market, which is one of the largest markets for high-value metal parts. We look forward to growing our customer base in the region.”

Europe-based engineers who would like to learn more about Velo3D’s end-to-end additive manufacturing solution can visit the company at Formnext 2021 in Hall 11, booth C11. At the booth, conference attendees will learn more about Velo3D’s capabilities, see SupportFree™ parts printed using Velo3D’s technology, and meet the Velo3D and SBO teams.

About Velo3D:

Velo3D is a metal 3D printing technology company. 3D printing—also known as additive manufacturing (AM)—has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.

Velo3D has overcome these limitations so engineers can design and print the parts they want. The company’s solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy and semiconductor to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The end-to-end solution includes the Flow™ print preparation software, the Sapphire^® family of printers, and the Assure™ quality control system—all of which are powered by Velo3D’s Intelligent Fusion^® manufacturing process. The company delivered its first Sapphire^® system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy, and Lam Research. Velo3D has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2021. For more information, please visit velo3d.com, or follow the company on LinkedIn or Twitter.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continue”, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Investor Relations:
Bob Okunski, VP Investor Relations
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Media Contact:
Dan Sorensen, Senior Director of Public Relations
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Integrated Enterprise Shipping Solution Streamlines and Simplifies Hazmat Shipping for ERP Users

CHICAGO & LONG BEACH, Calif.--(BUSINESS WIRE)--#Compliance--Labelmaster, the leading provider of labels, packaging and technology for the safe and compliant transport of dangerous goods and hazardous materials (hazmat), today announced the integration of its Dangerous Goods Information System (DGIS) with ShipERP, a leading multi-carrier shipping software provider. The partnership provides a seamless solution for managing the entire DG shipping process and ensures compliance with the latest regulations.

As the leading SAP-integrated shipping solution, ShipERP provides advanced shipping management functionality to users of the SAP ERP system, and helps businesses seamlessly integrate more than 250 shipping carriers to realize a more efficient shipping operation while reducing freight costs. With this enterprise solution, businesses can fulfill shipping requirements, including small parcel, less than truckload (LTL) or a combination, using integrated carrier real-time rate quoting, tracking, proof of delivery, transportation planning, shipping compliance and many other functionalities.

“The complex, ever-evolving nature of hazmat regulations makes shipping those goods challenging and time-consuming,” said Joseph Cabrera, managing partner, ShipERP. “Integrating DGIS with ShipERP will help automate the process and reduce the risk of fines or delayed shipments by ensuring shipments are in full compliance with the latest regulations. This not only helps take the guesswork out of transporting hazardous goods, but also streamlines the shipping process to create a more efficient supply chain.”

With the integration of DGIS into ShipERP’s enterprise shipping software, users will be able to create compliant shipping documents, labels and more within a single interface, while DGIS validates DG data against the latest rules and regulations, including carrier variations that may differ from other industry or government regulatory bodies. This reduces the chance for a rejected shipment or fines due to noncompliance. In addition, diagrams for packing and markings will provide visual instruction to further ensure employees across the supply chain are preparing DG shipments properly.

“Maintaining a smooth and efficient supply chain is more important than ever as businesses around the world are working hard to navigate a range of supply chain challenges and disruptions,” said Kristen Dapore, director business strategy, Labelmaster. “Shipping hazmat adds another level of complexity and risk to the supply chain, so we’re excited to partner with ShipERP to provide a best-in-class DG shipping software that will enable its users to better manage shipping operations and further promote a safe and compliant supply chain.”

About ShipERP

ShipERP is dedicated to increasing supply chain efficiencies for businesses looking to transform their order-to-cash process via shipment optimization. The company’s flagship product, ShipERP, is the enterprise solution to fulfill your business shipping requirements, whether it’s small parcel shipping, less than truckload (LTL) or a combination of them all. ShipERP helps businesses to seamlessly integrate over 250 shipping carriers to increase the effectiveness of their shipping operation. This allows the business to focus on reducing freight costs, as well as closely managing the shipping process to achieve better efficiencies. Experience maximum innovation and efficiency via integrated carrier rate quoting, transportation planning, shipping compliance and many other functionalities. To learn more, visit www.shiperp.com or contact Jeff Gleason at This email address is being protected from spambots. You need JavaScript enabled to view it..

About Labelmaster

For more than five decades, Labelmaster has been the go-to source for companies – big and small – to navigate and comply with the complex, ever-changing regulations that govern the transport of dangerous goods and hazardous materials. From hazmat labels and UN-certified packaging, hazmat placards and regulatory publications, to advanced technology and regulatory training, Labelmaster’s comprehensive offering of industry-leading software, products, and services helps customers remain compliant with all dangerous goods regulations, mitigate risk and maintain smooth, safe operations. Labelmaster's dedication to supporting its customers' operational and compliance needs is enhanced through its unmatched industry expertise and consulting services, which serve as a valuable resource for customers to answer difficult and commonplace regulatory questions. Whether you're shipping hazardous materials by land, air, or sea, Labelmaster is your partner in keeping your business ahead of regulations and compliant every step of the way. To learn more, visit www.labelmaster.com.

Stephen Dye
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DUBLIN--(BUSINESS WIRE)--The "Well Completion Equipment and Service Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Offerings (Equipment and Service) and Location (On-Shore and Off-Shore)" report has been added to ResearchAndMarkets.com's offering.

The well completion market was valued at US$ 8,509.96 million in 2021 and is projected to reach US$ 11,335.47 million by 2028; it is expected to grow at a CAGR of 4.2% from 2021 to 2028.

Rise in demand for oil & gas exploration across the world and increase in demand for natural gas in past few years, owing to the rising consumption of energy worldwide and the surging number of gas rig exploration which will drive the growth of the market.

In addition, new offshore oil well projects have been launched across different regions that are also propelling the demand for well completion equipment & services across countries. According to the study, there were more than 14,000 oil & gas well completions reported in FY 2019.

The sudden outbreak of COVID-19 has a number of implications for the oil and gas sector in the world. Oil and gas power-generating facilities have reduced activities, such as shutting down construction, operations, and maintenance projects at several locations, after the imposition of multiple "stay at home" orders by state governors around the world.

In the energy industry, these quarantine measures and shutdowns are causing furloughs and layoffs of technical, construction, and manufacturing personnel, as well as project demobilizations in many cases. As a result, many oil wells are struggling to keep up with maintenance and operations.

Furthermore, the COVID-19 pandemic has made it difficult for oil and gas producers to get project finance or equity capital.

Key players operating in the global well completion equipment and service market and profiled in the market study are

• Baker Hughes Company
• FTS International
• Halliburton Company
• Nov Inc.
• NCS Multistage, LLC
• Royal Dutch Shell PLC
• RPC Incorporated
• Schlumberger
• Nine Energy Services
• Welltec

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Well Completion Equipment and Services Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. Well Completion Equipment and Services Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Rise in Demand for Oil & Gas Exploration Worldwide

5.1.2 Resumption of Shale Gas Operations

5.2 Market Restraints

5.2.1 Downfall in the Oil & Gas Industry in FY 2020

5.3 Market Opportunities

5.3.1 Arctic Exploration Projects and Collaboration of Oil Service Vendors

5.4 Future Trends

5.4.1 Adoption of Smart Well Technologies

5.5 Impact Analysis of Drivers and Restraints

6. Well Completion Equipment and Services - Global Market Analysis

6.1 Global Well Completion Equipment and Services Market Overview

6.2 Global Well Completion Equipment and Services Market Revenue Forecast and Analysis

6.3 Market Positioning - Five Key Players

7. Well Completion Equipment and Services Market - By Offerings

7.1 Overview

7.2 Well Completion Equipment and Services Market, By Offerings (2020 and 2028)

7.3 Equipment

7.3.1 Overview

7.3.2 Equipment: Well Completion Equipment and Services Market - Revenue and Forecast to 2028 (US$ Million)

7.3.3 Packers

7.3.4 Sand Control Tools

7.3.5 Multistage Fracturing Tools

7.3.6 Liner Hangers

7.3.7 Smart Wells

7.3.8 Valves

7.3.9 Control Devices

7.4 Services

8. Well Completion Equipment and Services Market - By Location

8.1 Overview

8.2 Well Completion Equipment and Services Market, by Location (2020 and 2028)

8.3 Onshore

8.4 Offshore

9. Well Completion Equipment and Services Market - Geographic Analysis

9.1 Overview

10. Well Completion Equipment and Services Market - COVID-19 Impact Analysis

10.1 Overview

10.2 North America

10.3 Europe

10.4 Asia Pacific

10.5 Middle East and Africa

10.6 South America

11. Global Well Completion Market-Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 Merger and Acquisition

11.4 New Product Launch

12. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/2ettcw

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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