• An industry first, two global leaders in power technologies have entered into a non-exclusive, cross-licensing agreement that will allow them to expand their range of high-voltage equipment using a game-changing gas alternative to sulfur hexafluoride (SF₆)
• SF₆ an insulating and switching gas commonly used in high-voltage electrical equipment, is a potent greenhouse gas
• This historic agreement announced just before Earth Day 2021 will enable utilities to accelerate their reduction of greenhouse gas emissions

PARIS & ZURICH--(BUSINESS WIRE)--#GEGrid--GE Renewable Energy’s Grid Solutions business (NYSE: GE) and Hitachi ABB Power Grids Ltd. announced today a non-exclusive, cross-licensing agreement related to the use of an alternative gas to sulfur hexafluoride (SF₆) used in high voltage equipment. This fluoronitrile-based gas mixture has a significantly reduced impact on the environment compared to SF₆.

Under this landmark agreement announced just before Earth Day 2021 between two global leaders in power technologies – both companies will share complementary intellectual property related to their respective SF₆-free solutions. This will help accelerate the use of fluoronitrile-based eco-efficient insulation and switching gas in high-voltage equipment as an alternative to SF₆. A recent EU Commission report concluded that fluorinitrile-based gas mixtures may be the only insulating and switching gas alternative to SF₆ when space is a constraint.

Today’s historic agreement paves the way for a standard SF₆-free solution for high-voltage equipment in the coming years. This would enable utilities and industries to accelerate their reduction of greenhouse gas emissions, while facilitating their ability to plan, as well as operate and maintain their networks thanks to standardized services and the use of the same auxiliary equipment.

For almost half a century, SF₆ gas has been the norm in the electrical power transmission and distribution industry due to its unique physical properties. It is, however a greenhouse gas that contributes to global warming if leaked. For this reason, GE and Hitachi ABB Power Grids have been investing in the development of better alternatives to SF_6.

“Utilities are becoming increasingly aware of their environmental footprint and the impact it has on their communities and the world around them. Today’s landmark agreement reinforces our commitment to help our customers to reduce their greenhouse gas emissions,” said Heiner Markhoff, CEO of GE’s Grid Solutions. “GE pioneered this fluoronitrile-based gas which we named g³ and subsequently developed a broad SF₆-free product range. Our g³ SF₆-free products have been commercially available since 2015 and feature the same compactness and performance as traditional SF₆ equipment,” he added.

“As part of our commitment towards a carbon-neutral future and accelerating the energy transition, we have chosen to work towards a standard solution to address the needs of our customers through this cross-licensing agreement,” said Markus Heimbach, Managing Director of the High Voltage Products business in Hitachi ABB Power Grids. “As a technology leader, we have always been at the frontier of gas-insulated switchgear (GIS) that became a key enabler for urbanization and installed the very first SF₆-free GIS that significantly reduces carbon footprint,” he added.

The two companies will keep the product development, manufacturing, sales, marketing and service activities of their gas solutions fully independent. Each company will continue to independently grant and set terms of licenses to its respective intellectual property, hence preserving supplier base diversity for the industry and fair competition.

Notes to Editor:

GE’s alternative to SF₆ is g³ insulating and switching gas. The global warming potential (GWP) of GE’s g³ gas is more than 99% lower compared to SF₆. More: g3 - SF6-free solutions.

For media inquiries:
Allison J. Cohen
GE Renewable Energy, Grid Solutions business
External Communications Manager
+972-(0)54-7299742
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BUFFALO, N.Y.--(BUSINESS WIRE)--Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and provider of products and services for the renewable energy, conservation, residential and infrastructure markets, announced today that it expects to release its first quarter 2021 financial results at approximately 7:30 a.m. ET on Wednesday, May 5, 2021. It also expects to discuss the results on a conference call that will be webcast live that same day starting at 9:00 a.m. ET. Hosting the call will be Chief Executive Officer William Bosway and Chief Financial Officer Timothy Murphy.

Those who wish to listen to the conference call should visit the Investors section of the Company’s website at www.gibraltar1.com. The call also may be accessed by dialing (877) 407-3088 or (201) 389-0927. For interested individuals unable to join the live conference call, a webcast replay will be available on the Company’s website for one year.

About Gibraltar

Gibraltar Industries is a leading manufacturer and provider of products and services for the renewable energy, conservation, residential, and infrastructure markets. With a three-pillar strategy focused on business systems, portfolio management, and organization and talent development, Gibraltar’s mission is to create compounding and sustainable value with strong leadership positions in higher growth, profitable end markets. Gibraltar serves customers primarily throughout North America. Comprehensive information about Gibraltar can be found on its website at www.gibraltar1.com.

Timothy Murphy
Chief Financial Officer
(716) 826-6500 ext. 3277
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LHA Investor Relations
Carolyn Capaccio/Jody Burfening
(212) 838-3777
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The 105 pledge signatories together generate over $1.4 trillion in global annual revenues and have more than 5 million employees across 25 industries in 16 countries

The Climate Pledge is a commitment co-founded by Amazon and Global Optimism to meet the goals of the Paris Agreement 10 years early and achieve net-zero carbon by 2040

SEATTLE--(BUSINESS WIRE)--Today, Amazon and Global Optimism announced that more than 100 companies have now signed The Climate Pledge. Among the 52 new signatories joining The Climate Pledge today are well-known brands including Alaska Airlines, Colgate-Palmolive, HEINEKEN, PepsiCo, Telefónica, and Visa. Pledge signatories in total generate more than $1.4 trillion in global annual sales and have more than 5 million employees across 25 industries in 16 countries—demonstrating the collective impact The Climate Pledge can have in addressing climate change.

Signatories to The Climate Pledge agree to:

• Measure and report greenhouse gas emissions on a regular basis.
• Implement decarbonization strategies in line with the Paris Agreement through real business changes and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies.
• Neutralize any remaining emissions with additional, quantifiable, real, permanent, and socially beneficial offsets to achieve net-zero annual carbon emissions by 2040—a decade ahead of the Paris Agreement’s goal of 2050.

All signatories are taking science-based, high-impact actions to tackle climate change by innovating in supply chain efficiency, sustainable transportation, circular economy, clean energy solutions, and more. Many organizations are also meaningfully involving customers in their journey to net-zero with initiatives focused on innovative packaging and sustainable product design and development, while delivering solutions to empower customers to reduce their own emissions with educational campaigns and sustainable shopping experiences.

“Less than two years ago, Amazon co-founded The Climate Pledge and called on other companies to reach the Paris Agreement 10 years early—today, more than 100 companies with over $1.4 trillion in global annual revenues and more than 5 million employees have signed the pledge,” said Jeff Bezos, Amazon founder and CEO. “We are proud to stand with other signatories to use our scale to decarbonize the economy through real business change and innovation.”

“We helped to initiate The Climate Pledge to prove a model that accelerates decarbonization with the most ambitious companies,” said Christiana Figueres, the UN’s former climate chief and now founding partner of Global Optimism. “Today over 100 companies, including household brands and companies from all industry sectors, have joined The Climate Pledge with its goal of net-zero by 2040. They are demonstrating that moving faster toward decarbonizing their businesses is a pathway to competitive advantage. There is no doubt we’re at a tipping point to establish the low carbon economy envisioned in the Paris Agreement. I commend the leadership of the companies that have joined The Climate Pledge already and look forward to welcoming the next 100.”

Amazon and Global Optimism welcome the new signatories that have committed to The Climate Pledge.

Information about all 52 new signatories that have committed to The Climate Pledge is available at the About Amazon blog, with new signatories including:

Alaska Airlines
Alaska Airlines serves more than 120 destinations across the United States, Mexico, Canada and Costa Rica, and reaches destinations around the globe through the Oneworld Alliance. The company has a longstanding commitment to care for people and the environment, and is setting out on a bold path to reduce climate impact near and long term to reach net-zero emissions by 2040. This includes continued improvements in efficiency of its fleet; standardizing and expanding the use of first-of-its-kind artificial intelligence and machine learning technology to plan optimized routes, reduce fuel burn, and carbon emissions; working with government and industry to expand the availability and use of sustainable aviation fuels, which have up to 80% less carbon emissions on a lifecycle basis; exploring and advancing novel propulsion approaches that support electrification technologies for regional flying; and investing in credible carbon offsets to close any gaps to target. The company is already reducing emissions through fleet optimization, saving fuel with its aircrafts’ uniquely designed winglets, and navigation technology that sources the most efficient route. Through its broader social and environmental sustainability program, LIFT, Alaska Airlines invites customers to donate their miles to support nonprofits such as the Nature Conservancy and UNCF, to purchase carbon offsets with The Good Traveler, and to reduce waste through in-flight recycling (temporarily paused due to the COVID-19 pandemic), and traveling with reusable water bottles through the company’s #FillBeforeYouFly initiative.

“At Alaska Airlines, we know that travel can make a big difference in people’s lives, and we’re committed to operating in a socially and environmentally responsible way,” said Ben Minicucci, Alaska Airlines CEO. “We’re on a journey to ensure that sustainability is a core part of our culture, and we are grateful for partners within the aviation industry and beyond who are working with us to make the path to net-zero a reality. It will truly take a village to get there and joining the other sustainability-minded companies as part of The Climate Pledge is an important step.”

Colgate-Palmolive
Around the world, Colgate-Palmolive is reimagining a healthier future for all people, their pets, and our planet. The company is committed to preserving the environment by accelerating action on climate change. One critical priority is achieving renewable energy across all operations by 2030 through solar installations and power purchase agreements. With household brands including Colgate, Palmolive, Tom’s of Maine, Hill’s, and more, Colgate-Palmolive serves billions of people across the globe. The company is committed to growth and to operating responsibly and sustainably for the people, customers, and the communities it serves. It continually looks for better and more sustainable ways to make its products and packaging, and seeks opportunities to use less plastic, water, and energy while minimizing waste. In 2019, Colgate introduced a first-of-its-kind recyclable toothpaste tube, with the goal of transitioning its global portfolio by 2025. Colgate is now sharing its technology with third parties, including competitors, to support transformation of all tubes. The company is also leading the charge on promoting water conservation through its Save Water initiative, which encourages customers to "turn off the tap" while brushing, helping people save 155 billion gallons of water and 8.3 million metric tons of greenhouse gas since 2016.

“Colgate is proud to join The Climate Pledge, understanding that accountability, partnership, and collaboration are essential to producing the sustainable environmental improvements we all want," said Prabha Parameswaran, Colgate-Palmolive, Global President. "With the Colgate brand found in more homes than any other, we’ve embraced our extraordinary opportunity—and responsibility—to reduce our environmental footprint and accelerate action on climate change. We are proud of the progress we’ve made and committed to doing more as our company works hard to reimagine a healthier future for all people, their pets, and our planet.”

HEINEKEN
Serving consumers across the globe, HEINEKEN recognizes the importance of running not only a profitable business, but also a sustainable one. The company’s decade long sustainable development ambition, Brew a Better World, demonstrates its commitment to the UN Sustainable Development Goals, building a roadmap against these goals and their specified targets to ensure meaningful and transparent contributions to protecting the planet, ensuring prosperity, and ending poverty. As a part of this ambition, HEINEKEN has already achieved a 51% decrease in carbon emissions and a 33% decrease in water consumption across its operations since 2008. The company’s sustainability efforts span the entire value chain “from Barley to Bar” by supporting sustainable agriculture, brewing, packaging, and distribution, and advocating for responsible consumption of alcohol.

“For over 150 years, we’ve been passionate about making a positive impact on the world around us. We know that we can only thrive if our people, the planet, and the communities around us thrive,” said Dolf van den Brink, HEINEKEN chairman and CEO. “This means looking at Brew a Better World in every one of our activities. We know actions speak louder than words and that achieving real and lasting change is only possible through collective effort. We must think and act holistically when considering how Brew a Better World positively impacts the entire HEINEKEN ecosystem— including our employees, partners and suppliers, NGOs, governments, local communities, and other stakeholders. By joining The Climate Pledge, we are reinforcing our commitment to sustainability, and are pleased to join a community that will share knowledge, ideas, and best practices.”

PepsiCo
With a portfolio of iconic brands—including Quaker, Walkers, Gatorade, Doritos, and SodaStream—and a wide range of food and beverage products that are enjoyed by customers across the world, PepsiCo is committed to using its scale, reach, and expertise to help build a more sustainable food system. PepsiCo envisions a food system that can provide nutrition and enjoyment, and continue to drive economic and social development, all without exceeding the natural boundaries of the planet. The company is focused on promoting sustainable agriculture, addressing water insecurity, eliminating plastic waste, developing more nutritious and sustainable products, and reducing GHG emissions across its value chain. As part of this effort, PepsiCo is working to build a world where packaging doesn’t become waste. Currently, 88% of the company’s packaging is recyclable, compostable, or biodegradable, with a goal to reach 100% by 2025. PepsiCo also continues to expand its Sustainable from the Start program, an initiative that considers environmental impact at each stage of product development. In January 2021, PepsiCo announced a new science-based goal to cut its carbon emissions by more than 40% by 2030 (against a 2015 baseline)—more than doubling its previous climate commitment, and aiming to achieve net-zero emissions by 2040.

“PepsiCo is delighted to join The Climate Pledge as we continue our work to help build a more sustainable and regenerative food system,” said Ramon Laguarta, PepsiCo chairman and CEO. “At a time when the world is struggling to recover from the shock of a global pandemic, shared solutions to shared challenges are essential. We all must do our parts individually, but also come together to tackle climate change and reach net-zero emissions by 2040.”

Telefónica
As one of the largest telephone operators and mobile network providers in the world, Telefónica is committed to reducing its own carbon footprint, as well as delivering solutions to empower customers to reduce their own emissions. Telefónica is already committed to reducing the emissions of its entire value chain in line with the 1.5 degrees Celsius scenario. This includes a commitment to having net-zero emissions by 2025 across its operations in key markets (Spain, UK, Germany, and Brazil), with operations in Latin America and its broader value chain net-zero by 2040. The company is also committed to helping its customers reduce emissions through connectivity and its Eco Smart services, a product seal that helps shoppers easily incorporate sustainability criteria into their purchasing decisions. Last year, Eco Smart helped customers avoid more than 9.5 million tons of CO2, the carbon equivalent to planting 158 million trees.

“Our energy and climate change strategy centers on mitigating our impact, leveraging new opportunities, and evolving to address climate risks,” said Elena Valderrábano, Telefónica global director for corporate ethics and sustainability. “By joining The Climate Pledge, we are reinforcing our commitment to sustainability, and we’re pleased to join a community of other leading companies putting sustainability first.”

Visa
As a leading global payments technology company, Visa is committed to contributing to a more sustainable and inclusive world, including playing an industry leadership role in the global transition to a low-carbon economy. Visa’s sustainability track record includes achieving its goal in 2020 to fully transition to 100% renewable electricity, improving the sustainability of our offices and data centers through energy and water efficiency, landfill waste diversions, and a global Green Teams program for employees. In 2020, Visa issued a $500 million green bond, believed to be the first of its kind by a digital payments network, in support of these efforts. Visa also continues to inspire and empower sustainable commerce with strategic partnerships and programs focused on embedding sustainability in payment cards and accounts, and enabling sustainable behaviors through its work in transit, electric vehicle charging, travel, and tourism.

“At Visa, we’re committed to sustainability and to creating a more sustainable future,” said Alfred F. Kelly Jr., Visa chairman and CEO. “We’re proud to join The Climate Pledge as part of our pledge to net-zero emissions by 2040, and we look forward to collaborating with signatories to advance this important work.”

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.

About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about.

About Global Optimism
Global Optimism exists to precipitate transformational, sector-wide change. Achieving a zero emissions future is not a far-off challenge. It’s one we must get on track for now. Every scientific assessment shows that to meet the goal of net-zero emissions by 2050, to keep global heating below 1.5 degrees Celsius, we must halve our emissions between 2020 and 2030. Tackling the climate crisis is only possible when everyone, everywhere plays their part. We work with like-minded collectives from all sectors who are willing to invest in the choices required to be on this challenging—and life-affirming—journey. For more information, visit https://globaloptimism.com/.

Amazon.com, Inc.
Media Hotline
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www.amazon.com/pr

Visa marks Earth Day 2021 with industry-leading milestones, innovative partnerships and initiatives toward its vision of a sustainable future

SAN FRANCISCO--(BUSINESS WIRE)--Visa (NYSE: V), a leading global payments technology company, announced today a new global commitment to reach net-zero emissions by 2040, and that the company achieved carbon neutrality across its operations in 2020.ⁱ Visa also outlined plans to become a climate positive company through new partnerships and expanded initiatives to support sustainable commerce and the transition to a low-carbon economy beyond the company’s own footprint.

“Visa is committed to creating a more sustainable future,” said Al Kelly, chairman and chief executive officer of Visa. “Our new net-zero commitment and enhanced efforts across our network in support of sustainable initiatives are immediate ways we will achieve our goals to help build a better future for our planet.”

Net-zero by 2040 – 10 years ahead of Paris Climate Agreement goal

As part of the commitment to reach net-zero emissions by 2040, Visa announced it is a new signatory of The Climate Pledge, an initiative co-founded by Amazon and Global Optimism, as well as a new member of the Climate Business Network, a World Wildlife Fund (WWF) initiative to accelerate action toward a net-zero future. Visa’s net-zero commitment is aligned with emerging global standards and definitions and will include efforts with suppliers to abate a significant portion of the greenhouse gas footprint of the company’s purchased goods and services. Visa also has committed to set science-based targets through the Science Based Target initiative at the 1.5 degree Celsius ambition level. These new commitments join Visa’s existing sustainability leadership, including its transition to 100 percent renewable electricity usage in 2020.

“This Earth Month Visa is using the power of our network to accelerate transformation in sustainability and economic recovery, while helping ensure that the planet and economies around the world thrive,” said Douglas Sabo, chief sustainability officer of Visa. “By prioritizing clean energy and sustainable practices, investing in environmentally innovative initiatives and engaging with corporate and civil society leaders on climate, we are committed to being a part of the global solution to climate change.”

Supporting Sustainable Commerce

Visa is expanding its initiatives to use its products, services, network, data, payments expertise and brand to support sustainable commerce and the transition to a low-carbon economy. Today, Visa announced its collaboration with the Cambridge Institute for Sustainability Leadership (CISL) to work together to identify new opportunities to apply electronic payments capabilities and the Visa network toward realizing a sustainable future. Results of the collaboration are anticipated in Summer 2021.

Visa’s collaboration with CISL complements the company’s efforts to work across its network to support a low-carbon future, including:

• Partnerships advancing sustainable payment cards and accounts
• Global initiatives supporting sustainable behaviors, such as in mobility and travel
• Developing sustainable insights to support stakeholders in commerce in understanding consumer barriers and drivers of sustainable living behaviors
• Using the brand’s platforms to inspire sustainable living among millions of consumers

Visa’s new goals and efforts to support sustainable commerce build upon the company’s existing recognized industry leadership in sustainability, including inclusion on the following: Dow Jones Sustainability North American Index, America’s Most Responsible Companies, 100 Best Corporate Citizens and 100 Most Just Companies.

For more information, please visit: https://usa.visa.com/visa-everywhere/blog/bdp/2021/04/15/sustainable-commerce-and-1618453815474.html.

About Visa Inc.

Visa is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device. As the world moves from analogue to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information visit usa.visa.com/about-visa.html, usa.visa.com/visa-everywhere/blog.html and @VisaNews.

This release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are identified by words such as “will,” “plans,” “is expected,” and other similar expressions. Examples of forward-looking statements include, but are not limited to, statements we make regarding the timing and likelihood of taking actions related to our strategy, plans for future climate initiatives and goals, and the potential impact of our actions. By their nature, forward-looking statements: (i) speak only as of the date they are made; (ii) are not statements of historical fact or guarantees of future performance; and (iii) are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from Visa’s forward-looking statements due to a variety of factors, including those contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2020, and our other filings with the U.S. Securities and Exchange Commission. You should not place undue reliance on such statements. Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future developments or otherwise.

ⁱ This carbon neutrality achievement covers greenhouse gas emissions footprint from Visa’s Scope 1 (owned source), Scope 2 (purchased electricity) and business travel and employee commuting elements of Scope 3 (value chain) emissions. Scopes 1, 2 and 3 are as defined by the Greenhouse Gas Protocol of the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD).

Visa Media
Lindy Mockovak
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Market growth is anticipated to total 1.8 GW of energy storage for both C&I and residential healthcare applications

BOULDER, Colo.--(BUSINESS WIRE)--#COVID19--A new report from Guidehouse Insights provides global forecasts for annual deployments of new distributed energy storage (DES) projects in terms of power capacity (megawatts), energy capacity (megawatt-hours), and project deployment revenue, through 2030.

Driven by technological innovation, more flexible regulation, and the diverse customer benefits gained by adopting energy storage technologies, behind-the-meter (BTM) energy storage is experiencing continued growth globally. Due to extreme weather events such as wildfires, heatwaves, and cold winter storms, thousands and even millions of people are frequently left without power. For hospitals and residential patients, this can result in dangerous situations that may cost lives. Click to tweet: According to a new report from @WeAreGHInsights, the energy storage market for the healthcare industry is expected to experience a compound annual growth rate (CAGR) of 27.3%, with North America, Western Europe, and Asia Pacific leading in global power capacity additions.

“Energy storage for healthcare use is an innovative way to provide critical backup power for healthcare facilities and homes,” says Maria Chavez, research analyst with Guidehouse Insights. “Energy storage in hospitals and clinics is being driven by an increase in facility resilience and opportunities for time of use (TOU) and demand charge cost savings, while decreasing battery prices are making this technology more accessible to residential patients who may not be able be able to evacuate during a power outage.”

Still, a variety of barriers make energy storage a challenge in some cases. Large storage systems can take up critical space in hospitals and remote clinics often have limited resources to fund installation or subsequent maintenance of such a system. Residential customers are especially vulnerable to limited funding for home upgrades like battery storage systems. Increased financial support from outside sources, amplified awareness for residential customers, and a focus on gathering energy storage data specific to healthcare use cases are helping the market overcome these barriers to experience stronger growth in the coming years.

The report, Energy Storage and Solar PV for Healthcare Facilities, examines market drivers and barriers in the storage for healthcare industry and market trends for this topic across world regions. It also provides global forecasts for annual deployments of new distributed energy storage projects in terms of power capacity (megawatts), energy capacity (megawatt-hours), and project deployment revenue. These forecasts are separated by global region and customer segment. In addition, this report provides a review of the technology and market issues surrounding DES for healthcare, including in-home care and commercial clinics and hospitals. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights

Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.

About Guidehouse

Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 8,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.

* The information contained in this press release concerning the report, Energy Storage and Solar PV for Healthcare Facilities, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.

Lindsay Funicello-Paul
+1.781.270.8456
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Energy Executive Joins as Chief Corporate Development Officer

HOUSTON--(BUSINESS WIRE)--#blockchain--Data Gumbo, provider of GumboNet™ — the massively interconnected industrial smart contract network secured and powered by blockchain, today announced that it expanded its executive team with the addition of Robin Macmillan as Chief Corporate Development Officer to lead the Corporate Development team.

Macmillan joins Data Gumbo with a 40+ year career in energy with the last 12 years as Vice President and Senior Vice President for Business Development at National Oilwell Varco (NOV Inc.), the American multinational corporation and leading worldwide provider of equipment and services to upstream the oil and gas industry.

“The sheer breadth of Macmillan’s experience will serve as an invaluable asset to Data Gumbo as we continue to exponentially grow and mature our company into new industrial markets and further solidify our leadership in energy,” said Andrew Bruce, CEO and Founder, Data Gumbo. “Macmillan has the experience to expand Data Gumbo’s commercial market penetration to aid companies in undertaking digital transformation with smart contracts to reveal streamlined efficiencies and cost savings, sustainability insights across supply chains and transactional certainty in any commercial relationship.”

Macmillan is the current VP of Drilling Services at the International Association of Drilling Contractors (IADC) where he is also Chair Emeritus of the Advanced Rig Technology committee. He is also vice-chair of the Society of Petroleum Engineers (SPE) Drilling Systems Automation Technical Section. With a degree in Geology from the University of Leeds in England, Macmillan has worked in numerous countries including eight years in Latin America. His previous experience includes Management of Schlumberger Drilling and Measurements in Canada and President at the drill bit company ReedHycalog.

“There is tremendous opportunity right now to change how business is executed,” said Macmillan. “Data Gumbo is poised to deliver trust through automated, auditable blockchain-backed smart contracts that execute transactions in real-time. I am thrilled to be a part of the Data Gumbo executive team as the company is in a period of hyper growth into new industries, serving as a harbinger for significant digital transformation across commercial relationships and transparent, accurate sustainability impact data.”

About Data Gumbo

Data Gumbo is a Houston-headquartered technology company that provides GumboNet™ — a massively interconnected industrial smart contract network secured and powered by blockchain. With integrated real-time capabilities that automate and execute smart contracts, GumboNet reduces contract leakage, frees up working capital, enables real-time cash and financial management and delivers provenance with unprecedented speed, accuracy, visibility and transparency. Data Gumbo also provides GumboNet™ ESG, the automated and accurate sustainability measurement solution that ties a company’s operational data to environmental, social and governance (ESG) standards reporting for industrial supply chains.

To date, Data Gumbo has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator. With offices in Stavanger, Norway, and London, UK, the growing company was recognized as the Disruptive Innovator in the Forbes Energy Awards 2020 and named to CB Insights Blockchain 50, among other awards last year. For more information, visit www.datagumbo.com or follow on LinkedIn, Twitter and Facebook.

Gina Manassero
Data Gumbo
VP of Communications
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Digital freight network commits to reaching net-zero carbon emissions by 2040

SEATTLE--(BUSINESS WIRE)--Convoy, the nation’s most efficient digital freight network, announced today that it has joined The Climate Pledge, a commitment co-founded by Amazon and Global Optimism. Signatories of the Climate Pledge commit to reaching net-zero carbon emissions by 2040, ten years ahead of the goal set out in the United Nations' Paris Agreement.

“Sustainability is at the heart of our business model and fundamental to Convoy,” said Dan Lewis, Convoy Co-founder and CEO. “We empower the freight industry to ship responsibly and create efficiencies in trucking, helping our customers and communities meet their environmental goals. Convoy is proud to sign The Climate Pledge and support real carbon-reducing actions, and we will continue to work to achieve our mission to transport the world with endless capacity and zero waste.”

Convoy is one of more than 100 organizations that have now signed the Climate Pledge, which commits signatories to three principal areas of action:

• Measuring and reporting greenhouse gas emissions on a regular basis.
• Implementing decarbonization strategies in line with the Paris Agreement through real business changes and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies.
• Neutralizing any remaining emissions with additional, quantifiable, real, permanent, and socially-beneficial offsets to achieve net-zero annual carbon emissions by 2040.

“Less than two years ago, Amazon co-founded The Climate Pledge and called on other companies to reach the Paris Agreement 10 years early—today, more than 100 companies with over $1.4 trillion in global annual revenues and more than 5 million employees have signed the pledge,” said Jeff Bezos, Amazon founder and CEO. “We are proud to stand with other signatories to use our scale to decarbonize the economy through real business change and innovation.”

Convoy is already operating its business fully carbon neutral across scope 1, scope 2, and scope 3 emissions. The company’s technology is eliminating carbon emissions from the trucking industry by enhancing the ability to connect shipments more effectively. For example, Convoy’s Automated Reloads program reduces empty miles from the industry standard of 35% to 19% by bundling shipments into a single job for a driver. If the industry as a whole is able to achieve the same efficiency improvements that Convoy has seen on bundled shipments, it would reduce CO2 emissions by 32 million metric tons, the equivalent of taking 6.9 million cars off of the road annually. To date, Convoy has eliminated more than 2.6 million pounds of carbon emissions for its customers, including Fortune 500 shippers like Anheuser-Busch, P&G, Niagara, and Unilever.

About Convoy

Convoy is the nation’s most efficient digital freight network. We move thousands of truckloads around the country each day through our optimized, connected network of carriers, saving money for shippers, increasing earnings for drivers, and eliminating carbon waste for our planet. We use technology and data to solve problems of waste and inefficiency in the $800B trucking industry, which generates over 72 million metric tons of wasted CO2 emissions from empty trucks. Fortune 500 shippers like Anheuser-Busch, P&G, Niagara, and Unilever trust Convoy to lower costs, increase logistics efficiency, and achieve environmental sustainability targets.

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.

Chris Volk
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310-663-4315

EVANSTON, Ill.--(BUSINESS WIRE)--Star Peak Energy Transition Corp. (“Star Peak” or “the Company”) (NYSE: STPK), a publicly traded special purpose acquisition company, reminds its holders of common stock to vote in favor of the approval of the Company’s proposed business combination with Stem, Inc. (“Stem”), a global leader in artificial intelligence (AI)-driven clean energy storage systems, and the related proposals to be voted upon at the Company’s virtual Special Meeting on April 27, 2021.

The Special Meeting to approve the pending business combination is scheduled for Tuesday, April 27, 2021, at 11:00 a.m. ET. It will be completely virtual and conducted via live webcast via the following link: https://www.cstproxy.com/starpeakcorp/2021. Holders of Star Peak’s shares of common stock at the close of business on the record date of March 4, 2021 are entitled to notice of the virtual Special Meeting and should vote before 11:59 p.m. ET on April 26, 2021.

If the proposals at the Special Meeting are approved, the parties anticipate that the business combination will close shortly thereafter, subject to the satisfaction or waiver (as applicable) of all other closing conditions.

It remains important that all holders who owned Star Peak common stock as of March 4, 2021 – even if they have since sold – vote by the April 26, 2021 deadline to ensure the deal proceeds in a timely manner.

There are three ways to vote: online, via telephone or by mail. More information on how to vote can be found at https://stpk.starpeakcorp.com/vote. Holders of Star Peak common stock who need assistance voting or have questions regarding the Special Meeting may contact Star Peak’s proxy solicitor, Morrow Sodali, toll-free at (877) 787-9239 or email Morrow Sodali at This email address is being protected from spambots. You need JavaScript enabled to view it..

About Stem

Stem provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena™, a world-class artificial intelligence (AI)-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter.

Headquartered in Millbrae, Calif., Stem is directly funded by a consortium of leading investors including Activate Capital, Angeleno Group, BNP Paribas, Constellation Technology Ventures, Copec, Iberdrola (Inversiones Financieras Perseo), GE Ventures, Magnesium Capital, Mithril Capital Management, Mitsui & Co. LTD., Ontario Teachers’ Pension Plan, RWE Supply & Trading, Temasek and Total Energy Ventures. For more information, visit www.stem.com.

About Star Peak Energy Transition Corp.

Star Peak is a blank check company incorporated in Delaware for the purpose of effecting a merger, capital stock exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Star Peak is led by a management team with extensive experience investing in the energy, energy infrastructure and renewables sectors, including Chairman, Michael Morgan and Chief Executive Officer, Eric Scheyer. Michael Morgan is Chairman and Chief Executive Officer at Triangle Peak Partners LP and currently serves as a director of Sunnova Energy International (NYSE: NOVA) and lead director of Kinder Morgan, Inc. (NYSE: KMI), one of the largest energy infrastructure companies in North America, a company he joined at its founding in 1997. Eric Scheyer is a Partner at Magnetar and has served as the Head of the Magnetar Energy and Infrastructure Group since its inception in 2005. For more information, visit https://stpk.starpeakcorp.com/.

Additional Information

This communication is being made in respect of a proposed merger transaction (the “proposed transactions”) involving Star Peak and Stem. The proposed transactions will be submitted to stockholders of Star Peak for their consideration and approval at a special meeting of stockholders. In connection with the proposed transactions, Star Peak has filed a Registration Statement on Form S-4 (the “Registration Statement”) with the Securities and Exchange Commission (“SEC”), which includes a definitive proxy statement / prospectus / written consent solicitation that has been distributed to Star Peak stockholders in connection with Star Peak’s solicitation for proxies for the vote by Star Peak’s stockholders in connection with the proposed transactions and other matters as described in such Registration Statement, as well as the prospectus relating to the offer of the securities. Star Peak has mailed a definitive proxy statement / prospectus / written consent solicitation and other relevant documents to its stockholders as of the record date established for voting on the proposed transactions. Investors and security holders of Star Peak are advised to read the definitive proxy statement / prospectus / written consent solicitation in connection with Star Peak’s solicitation of proxies for its special meeting of stockholders to be held to approve the proposed transaction because the proxy statement / prospectus / written consent solicitation contains important information about the proposed transaction and the parties to the proposed transaction. Stockholders may also obtain copies of the definitive proxy statement / prospectus / written consent solicitation, without charge at the SEC’s website at www.sec.gov or by directing a request to: Star Peak Energy Transition Corp., 1603 Orrington Ave., 13 Floor Evanston, IL 60201.

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

Participants in the Solicitation

Star Peak and Stem and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Star Peak’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Star Peak s stockholders in connection with the proposed business combination is set forth in Star Peak’s registration statement / proxy statement that has been filed with the SEC. Investors and security holders may obtain more detailed information regarding the names and interests in the proposed transaction of Star Peak’s directors and officers in Star Peak’s filings with the SEC, and such information is also in the Registration Statement that has been filed with the SEC by Star Peak, which includes the definitive proxy statement / prospectus / written consent solicitation of Star Peak for the proposed transaction.

Forward-Looking Statements

Certain statements in this communication may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events of Star Peak or Stem’s future financial or operating performance. For example, projections of future revenue and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “or“ or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Star Peak and its management, and Stem and its management, as the case may be, are inherently uncertain factors that may cause actual results to differ materially from current expectations include, but are not limited to: 1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive merger agreement with respect to the business combination; 2) the outcome of any legal proceedings that may be instituted against Star Peak, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; 3) the inability to complete the business combination due to the failure to obtain approval of the stockholders of Star Peak, to obtain financing to complete the business combination or to satisfy other conditions to closing; 4) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; 5) the ability to meet the New York Stock Exchange’s listing standards following the consummation of the business combination; 6) the risk that the business combination disrupts current plans and operations of Stem as a result of the announcement and consummation of the business combination; 7) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; 8) costs related to the business combination; 9) changes in applicable laws or regulations; 10) the possibility that Stem or the combined company may be adversely affected by other economic, business and/or competitive factors; 11) Stem’s estimates of its financial performance; 12) the impact of the novel coronavirus disease pandemic and its effect on business and financial conditions; and 13) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Star Peak’s Annual Report on Form 10-K for the year ended December 31, 2020. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Star Peak nor Stem undertakes any duty to update these forward-looking statements, except as otherwise required by law.

Investor Contact – Stem
Ted Durbin, Stem, Inc.
Marc Silverberg, ICR, Inc.
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Media Contact – Stem
Cory Ziskind, ICR, Inc.
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Star Peak
Tricia Quinn
Courtney Kozel
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847 905 4400

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) will announce its earnings for the First Quarter ended March 31, 2021 on May 5, 2021, before the market opens.

Genesis Energy, L.P.’s First Quarter Earnings Conference Call will be held Wednesday, May 5, 2021, at 8:30 a.m. Central time (9:30 a.m. Eastern time). This call can be accessed at www.genesisenergy.com. Choose the Investor Relations button. For those unable to attend the live broadcast, a replay will be available beginning approximately one hour after the event.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, marine transportation and onshore facilities and transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.

Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Nuverra Environmental Solutions, Inc. (NYSE American: NES) (“Nuverra” or the “Company”) today announced the appointment of Patrick L. Bond as the Chief Executive Officer of Company, effective April 21, 2021. Charlie Thompson, the Company’s current Chief Executive Officer, will continue to serve as Chairman of the Company’s Board of Directors following the transition.

“Pat has a long and distinguished history in the oilfield services sector, and we are excited to have him lead the Nuverra team,” said Mr. Thompson. “As a 30-year industry veteran, Pat brings not only tremendous operational expertise, but also a deep commercial focus that will be critically important to the Company as the industry emerges from the effects of the COVID-19 pandemic and the oil price collapse in 2020. He is a petroleum engineer who has successfully undertaken numerous business development and management roles throughout the United States and internationally, including senior leadership positions at Halliburton, Weatherford, Schlumberger and several of its affiliated companies, and most recently as Co-CEO of Gravity Oilfield Services. Pat has spent the better part of the last ten years leading smaller private companies like Gravity and its predecessors, and we believe he will be an excellent fit for Nuverra, our customers and our employees.” Mr. Bond will be based in the Company’s corporate office in Houston.

As previously announced, David J. Nightingale joined the Board of Directors of the Company effective April 6, 2021. Mr. Nightingale brings relevant industry experience having served as Executive Vice President, Wellsite Services of Select Energy Services, Inc. and as the Executive Vice President and Chief Operating Officer of Rockwater Energy Solutions, Inc. “We are looking forward to the strategic insights that David will bring as a result of his many years in the broader oil service industry as well as the water sector specifically,” said Mr. Thompson.

“The addition of Pat and David to these key leadership roles adds formidable commercial strength, strategic insight and operating expertise to help Nuverra address the challenges and uncertainties the business is facing.”

About Nuverra

Nuverra Environmental Solutions, Inc. provides water logistics and oilfield services to customers focused on the development and ongoing production of oil and natural gas from shale formations in the United States. Our services include the delivery, collection, and disposal of solid and liquid materials that are used in and generated by the drilling, completion, and ongoing production of shale oil and natural gas. We provide a suite of solutions to customers who demand safety, environmental compliance and accountability from their service providers. Find additional information about Nuverra in documents filed with the U.S. Securities and Exchange Commission (“SEC”) at http://www.sec.gov.

Nuverra Environmental Solutions, Inc.
Investor Relations
602-903-7802
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 Fluence and Northvolt are working to develop sustainable, next-generation battery systems which are intended to lower total cost of ownership and improve functionality of technology that is key to reliable, resilient & decarbonized electric grids

ARLINGTON, Va. & STOCKHOLM--(BUSINESS WIRE)--Fluence, a leading global energy storage technology, software and services provider, and Northvolt, the leading European battery developer and manufacturer, today announced an agreement to co-develop next-generation battery technology for grid-scale storage applications. As part of the agreement, Fluence also plans to purchase battery systems from Northvolt.

The companies will draw on Fluence’s systems-level knowledge, including 13 years of energy storage system operating data, and Northvolt’s battery manufacturing expertise and digital competences to develop stationary energy storage products with industry-leading embedded intelligence and total system optimization.

Fluence and Northvolt will work together to develop Northvolt battery hardware and battery management systems optimized for Fluence energy storage solutions. Digital intelligence, tightly integrated through the full product lifecycle from battery manufacturing to end-of-life, will lower total cost of ownership and create unique opportunities to generate value for Fluence customers. The agreement provides Northvolt with an unmatched channel to deliver systems to the global market and expands Fluence’s supply chain to include the leading European-based battery manufacturer.

“Grid-scale energy storage will play a crucial role in transforming the way we power our world, and we are excited to join forces with a true innovator like Northvolt to deliver technology with significant societal and environmental benefits,” said Manuel Perez Dubuc, CEO of Fluence. “This integrated approach to optimize battery technology for Fluence product offerings is intended to make our systems greener, more cost-effective and more impactful, and to help us meet growing demand for sustainable energy storage solutions around the world.”

Battery energy storage is a key element of reliable, resilient, decarbonized electric grids. In response to surging demand for grid-scale battery solutions, Northvolt recently announced a $200M investment to ramp up its stationary energy storage manufacturing capacity.

Both Fluence and Northvolt are committed to decarbonizing the battery supply chain. Northvolt, which has a focus on delivering the lowest carbon footprint possible for its products and developing the world’s greenest battery, will use clean power at its production facilities and is developing advanced recycling capabilities for batteries.

“In order to reach the Paris Agreement, the world needs to make significant investments in building truly sustainable energy grids. And battery systems will play a crucial part in that process. With their technology and reach, Fluence is the perfect partner to help put these solutions in the hands of a large number of customers, and thereby drive the change on the scale that we need,” said Peter Carlsson, CEO and Co-Founder of Northvolt.

Both Fluence and Northvolt will continue to collaborate with OEMs globally to evolve batteries and systems for energy storage applications and will be able to integrate the learnings from the co-development to speed up the transition to a sustainable society.

About Fluence

Fluence, a Siemens and AES company, is helping drive the global energy transition with grid-scale technology, products, and services that help customers maximize the value and performance of single projects or entire portfolios of assets. Fluence delivers energy storage and bidding optimization software products and engineering, delivery, and operational services to customers globally. The company has more than 5.6 GW of storage and optimized bidding assets in operation or contracted in 29 markets.

To learn more about Fluence, please visit: fluenceenergy.com

About Northvolt

Northvolt is a European supplier of sustainable, high-quality battery cells and systems. Founded to enable the European transition to a decarbonized future, the company has made swift progress on its mission to deliver the world’s greenest lithium-ion battery with a minimal CO2 footprint. Among Northvolt industrial partners and customers are ABB, BMW Group, Scania, Siemens, Vattenfall, Vestas and the Volkswagen Group.

Media

Fluence: Alison Mickey, This email address is being protected from spambots. You need JavaScript enabled to view it.
Northvolt: Jesper Wigardt, This email address is being protected from spambots. You need JavaScript enabled to view it.

SAN LEANDRO, Calif.--(BUSINESS WIRE)--FreeWire Technologies, a leader in electric vehicle (EV) charging and power solutions, today announced that it has formed an alliance with AssetWorks, a leading supplier of fleet management software in North America and the United Kingdom. Under this collaboration, FreeWire’s EV charging solutions can be combined with AssetWorks’ robust FuelFocusEV software solution that monitors and compiles EV charging data, enabling fleet organizations to make better-informed decisions based on vehicle energy consumption.

"The future of fleet management is zero emission, and our support for fleet electrification is constantly growing," says Michael Terreri, EV Product Manager at AssetWorks. “FuelFocusEV is a giant leap forward for how fleets track and manage EV charging. By fully integrating with charging solution providers like FreeWire, FuelFocusEV provides a single dashboard and control interface for fleet leaders to manage their operations and plan future growth.”

“FreeWire has been providing battery-integrated electric vehicle charging to fleets since 2015, and we look forward to working with the leader in fleet and fuel management systems,” said John Erdman, Director of Partner Sales at FreeWire. “AssetWorks is leading the way to enable fleet managers to incorporate and manage electric vehicles in their fleets. By combining FreeWire DC Fast-Charging (DCFC) stations with the FuelFocusEV platform, AssetWorks will enable fleet managers to charge electric fleet vehicles without the need for an upgrade to 480V service, saving time and infrastructure costs and greatly reducing operating expenses by providing off-peak and demand-charge-elimination technology.”

FreeWire has deployed battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations. In December 2020, FreeWire and bp pulse, one of the UK’s leading providers of EV charging infrastructure, announced an exclusive MOU for bp pulse to deploy Boost Charger in its operations across the UK. FreeWire and ampm, a bp subsidiary and convenience store chain with over 1,000 locations, have already deployed multiple public charging stations in the U.S.

In January 2021, FreeWire announced a $50 million Series C funding round, led by Riverstone Holdings, with participation from current shareholders bp ventures, Energy Innovation Capital, and Blue Bear Capital. This financing will enable FreeWire to accelerate international market expansion of Boost Charger and expand production capacity to meet unprecedented customer demand.

About FreeWire Technologies

FreeWire's turnkey power solutions deliver energy whenever and wherever it's needed for reliable electrification beyond the grid. With scalable clean power that moves to meet demand, FreeWire customers can tackle new applications and deploy new business models without the complexity of upgrading traditional energy infrastructure. Learn more at www.freewiretech.com

About AssetWorks

AssetWorks is a leading supplier of fleet management software, automated fueling systems and enterprise asset management software in North America and the United Kingdom, with more than 550 software customers, including private fleet operators as well as City, County, State and Federal organizations. AssetWorks solutions enable fleet organizations of all sizes to improve maintenance practices, streamline operations and improve accountability for mission-critical transportation assets.

Media:
Cory Ziskind
ICR
646-277-1232
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• Orders of $4.5 billion for the quarter, down 12% sequentially and down 18% year-over-year.
• Revenue of $4.8 billion for the quarter, down 13% sequentially and down 12% year-over-year.
• GAAP operating income of $164 million for the quarter, down 10% sequentially and favorable year-over-year.
• Adjusted operating income (a non-GAAP measure) of $270 million for the quarter was down 42% sequentially and up 13% year-over-year.
• Adjusted EBITDA* (a non-GAAP measure) of $562 million for the quarter was down 27% sequentially and down 5% year-over-year.
• GAAP loss per share of $(0.61) for the quarter which included $0.73 per share of adjusting items. Adjusted earnings per share (a non-GAAP measure) was $0.12.
• Cash flows generated from operating activities were $678 million for the quarter. Free cash flow (a non-GAAP measure) for the quarter was $498 million.

^{The Company presents its financial results in accordance with GAAP. However, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. Please see reconciliations in the section entitled "Reconciliation of GAAP to non-GAAP Financial Measures."  See Exhibit 99.2 for additional reconciliations of certain GAAP to non-GAAP financial measures as a Financial Supplement to this earnings release. Certain columns and rows in our tables and financial statements may not sum up due to the use of rounded numbers.}

^{*Adjusted EBITDA (a non-GAAP measure) is defined as operating income (loss) excluding depreciation & amortization and operating income adjustments}

LONDON & HOUSTON--(BUSINESS WIRE)--Baker Hughes Company (NYSE: BKR) ("Baker Hughes" or the "Company") announced results today for the first quarter of 2021.

^{"F" is used in most instances when variance is above 100%. Additionally, "U" is used in most instances when variance is below (100)%.}

“We are pleased with our first quarter results as we generated strong free cash flow, continued to drive forward our cost-out efforts, and took further meaningful steps in the execution of our strategy. During the quarter, TPS delivered solid orders and operating income while OFS continued to execute cost-out programs to help drive another strong quarter of margin performance. We also advanced our position in the energy transition, investing in strategic areas for growth and entering important partnerships to advance new energy frontiers including hydrogen and carbon capture, utilization and storage. I want to thank our employees for their continued hard work and commitment to safety,” said Lorenzo Simonelli, Baker Hughes chairman and chief executive officer.

“As we look ahead to the rest of 2021, we remain cautiously optimistic that the global economy and oil demand will recover from the impact of the global pandemic. We expect spending and activity levels to gain momentum through the year as the macro environment improves, likely setting up the industry for stronger growth in 2022.

“We remain focused on executing our strategy, and are well positioned to benefit from an economic recovery while leading the energy transition and the journey to net-zero. We will continue to take energy forward by supporting our customers, staying disciplined on our strategic priorities, and delivering for our shareholders,” concluded Simonelli.

Quarter Highlights

Supporting our Customers

The OFS segment executed a major software deployment for Saudi Aramco, deploying its WellLink™ service to deliver real-time data visualization and analysis across all Saudi Aramco drilling activities. The five-year contract was awarded in 2020 and includes a detailed planning phase to transition from the incumbent provider to Baker Hughes. Using WellLink, Saudi Aramco personnel can collaborate and make decisions using a single view of data, paving the way for the use of artificial intelligence to enhance operations. Despite significant pandemic-related challenges, the deployment was completed 50% faster than planned and used local resources extensively.

Baker Hughes continued to invest in localization for Saudi Arabia. In addition to the WellLink deployment project, Saudi Aramco awarded OFS a five-year drill bits contract, supported by the Baker Hughes drill bits manufacturing facility in Dhahran. The facility recently expanded its capabilities and has produced more than 15,000 drill bits since beginning operations a decade ago. OFS also inaugurated its completions manufacturing center in Saudi Arabia to support growth plans and add in-country value.

The TPS segment continued to maintain its leadership in FPSO and LNG with several offshore topside contracts in Latin America and Asia. In Latin America, TPS was awarded a contract for multiple FPSOs, including one of the world’s largest units, to provide power generation systems, compression trains for gas reinjection, CO2 compression services and water injection centrifugal pumps. In Asia, TPS secured a topside offshore contract to provide three aeroderivative gas turbine-driven compressor units for a fixed platform. TPS also continued to strengthen long-term relationships with key customers, achieving a major milestone by securing a 10-year services contract extension in Malaysia for one of the largest LNG facilities in the world.

The DS segment continued to expand across industrial end markets, including marine, aerospace, electronics, and pulp and paper. The Bently Nevada product line signed a multi-year agreement with P&O Maritime Logistics to supply a hybrid condition-based monitoring solution that combines the VitalyX lubrication oil monitoring solution with Bently Nevada’s vibration monitoring and Host Remote Monitoring & Diagnostic service. By combining oil and vibration monitoring, Bently Nevada can provide greater protection against asset loss and ensure valuable uptime for over 180 assets on 19 P&O Maritime Logistics vessels in its Caspian fleet. This cloud-based subscription contract is the first of its kind for both P&O Maritime Logistics and Bently Nevada.

Bently Nevada also secured a contract to supply plant-wide condition monitoring solutions for Arauco’s pulp and paper plant in Chile, one of the main global players in wood pulp and bioenergy. The brownfield contract includes hardware, software and services support of 900+ sensors integrated to System 1 software for 450 machines across three sites, increasing productivity and efficiency of Arauco’s operations. In the industrial inspections segment, the Waygate Technologies (WT) product line secured multiple orders from one of the world's leading battery manufacturers in Asia. The customer has initiated a global roll-out project with WT's Phoenix CT systems to inspect lithium ion batteries for electric vehicles.

DS secured major contracts to advance customers’ energy transition goals, helping to reduce methane and carbon emissions as well as improve efficiencies. The Panametrics product line secured several orders for the Flare.IQ advanced flare gas monitoring and optimization system, with contracts for oil and gas operators in North America, China and the U.A.E. The Druck product line secured a number of significant contracts across North America and China to supply pressure sensors to improve aircraft fuel efficiency. This included one of the largest aerospace engine contracts in Druck’s history, a 25-year deal, and strengthened Baker Hughes’ leadership position with aerospace OEMs.

Executing on Priorities

Baker Hughes made progress in strategically positioning the company for new frontiers, announcing new collaborations to advance industrial decarbonization and low- to zero-carbon solutions:

• Signed a cooperation agreement with PAO NOVATEK to decarbonize natural gas and LNG production by developing and implementing innovative compression and power generation technologies for NOVATEK’s LNG projects. The agreement will begin with a pilot program to introduce hydrogen blends into the main process for natural gas liquefaction to reduce carbon dioxide emissions from LNG export terminals including NOVATEK’s Yamal LNG complex.
• Signed a memorandum of understanding (MOU) with Horisont Energi AS for the Polaris offshore carbon storage facility in Norway to explore the development and integration of technologies to minimize the footprint, cost and delivery time for carbon capture, transport and storage. The Polaris facility is part of the “Barents Blue” project, the first global and full-scale carbon neutral “blue” ammonia production plant. The project is expected to have a total carbon storage capacity of 100+ million tons, equivalent to twice Norway’s annual greenhouse gas emissions.
• Acquired from SRI International an exclusive license for the use of Mixed Salt Process technology for carbon capture applications including fossil-fueled power plants, gas turbines, industrial applications, and the cement industry. The agreement further expands and complements Baker Hughes’ CCUS technology portfolio offering as it strategically positions to be able to offer customers a variety of solutions based on project size, design requirements and plant location.

The OFS and OFE segments continued to transform core operations and improve productivity and profitability, developing new business models and exiting product lines and geographies that did not meet strong return requirements. OFS completed the sale of pressure pumping assets in Argentina’s Neuquén Basin to Tenaris, including a hydraulic fracturing fleet, coiled tubing unit and related equipment. OFE announced a joint venture company (JV) with Akastor ASA to combine Baker Hughes’ Subsea Drilling Systems business with Akastor’s subsidiary, MHWirth AS. The new JV will deliver global offshore drilling solutions to better serve customers while driving productivity and cost synergies.

OFS continued to see growth in the Chemicals product line with a five-year production chemicals contract from a major operator in Guyana and one of the largest Chemicals contracts in Baker Hughes history. As part of the contract, Baker Hughes developed a new oilfield chemicals technology solution in record time to meet specific regional production challenges. Notably, Chemicals also secured a five-year production chemicals contract for multiple deep-water blocks in Angola, and a five-year contract for specialty chemicals and services in offshore Norway.

OFE expanded its non-metallic materials portfolio and won multiple contracts in its Flexible Pipe Systems (FPS) product lines. A new onshore composite flexible pipe was launched in January, addressing the corrosion and cost of ownership challenges with conventional steel pipes for the energy and industrial sectors. The lightweight reinforced thermoplastic pipe (RTP) is manufactured at a state-of-the-art Houston facility, and the spoolable design can reduce installation costs by more than 20%. This technology has been well received and has led to early adoption by two customers within the quarter.

DS expanded its industrial asset performance management (APM) portfolio by acquiring ARMS Reliability, a leading global provider of reliability solutions deploying reliability engineering, data capture, integration, visualization, and analytics to improve the reliability and availability of physical assets. The acquisition closed on April 1, positioning Bently Nevada as a comprehensive industrial asset management platform with a full spectrum of APM services and extended plant-level coverage for industrial customers. ARMS Reliability’s current customer base includes the mining, oil and gas, power generation, manufacturing, and utility segments.

Leading with Innovation

Baker Hughes continued to develop technologies to advance the energy transition, improve efficiencies, reduce emissions and accelerate the digital transformation of industrial segments.

BakerHughesC3.ai (BHC3) released its latest application, BHC3 Production Schedule Optimization (PSO). PSO improves supply chain and delivery performance for highly engineered products while minimizing manufacturing costs. The application generates industrial customer demand predictions and optimal production schedules using a holistic view of buyer activity, supply chain materials, and manufacturing and distribution options. PSO is the third BHC3 AI-based application released since the alliance was formed in 2019 and allows for further customer penetration in the downstream oil and gas segment.

OFS continued to innovate to reduce emissions and environmental footprint for customers. The Artificial Lift and Completions product lines secured a contract to supply equipment and services for the first wireline-retrievable electric submersible pumping (ESP) system in Italy. This latest ESP technology was developed in collaboration with channel partner AccessESP and will allow the customer to reduce its carbon footprint, minimize deferred production, and reduce workover costs by eliminating the need for a rig during ESP change-out operations.

OFS is also utilizing novel plug and abandonment (P&A) technologies to decommission wells in Europe in a more environmentally friendly, less emissive way. In one project in the Netherlands, the Baker Hughes HEAVY METAL section milling service was paired with a rigless P&A unit to reduce metal waste by 288,000 pounds and reduce carbon dioxide emissions by 73% compared to the incumbent’s services.

Consolidated Results by Reporting Segment

Orders for the quarter were $4,541 million, down 12% sequentially and down 18% year-over-year. The sequential decrease was a result of lower order intake in Oilfield Equipment and Turbomachinery & Process Solutions, partially offset by growth in Digital Solutions. Equipment orders were down 23% sequentially and service orders were down 4%.

Year-over-year, the decline in orders was a result of lower order intake in Oilfield Services and Oilfield Equipment, partially offset by growth in Digital Solutions and Turbomachinery & Process Solutions. Year-over-year equipment orders were down 18% and service orders were down 18%.

The Company's total book-to-bill ratio in the quarter was 0.9; the equipment book-to-bill ratio in the quarter was 0.8.

Remaining Performance Obligations (RPO) in the first quarter ended at $23.2 billion, a decrease of $0.2 billion from the fourth quarter of 2020. Equipment RPO was $7.5 billion, down 6% sequentially. Services RPO was $15.7 billion, up 2% sequentially.

Revenue for the quarter was $4,782 million, a decrease of 13%, sequentially. The decrease in revenue was driven by lower volume across all segments.

Compared to the same quarter last year, revenue was down 12%, driven by lower volume across the Oilfield Services, Oilfield Equipment, and Digital Solutions segments, partially offset by Turbomachinery & Process Solutions.

^{*Non-GAAP measure.}

^{"F" is used in most instances when variance is above 100%. Additionally, "U" is used in most instances when variance is below (100)%.}

On a GAAP basis, operating income for the first quarter of 2021 was $164 million. Operating income decreased $18 million sequentially and increased $16,223 million year-over-year. Total segment operating income was $379 million for the first quarter of 2021, down 34% sequentially and up 5% year-over-year.

Adjusted operating income (a non-GAAP measure) for the first quarter of 2021 was $270 million, which excludes adjustments totaling $106 million before tax, mainly related to restructuring and separation related charges. A complete list of the adjusting items and associated reconciliation from GAAP has been provided in Table 1a in the section entitled “Reconciliation of GAAP to non-GAAP Financial Measures.” Adjusted operating income for the first quarter was down 42% sequentially, driven by declines in the Oilfield Equipment, Digital Solutions, and Turbomachinery & Process Solutions segments which were primarily seasonal, offset by margin expansion in Oilfield Services. Adjusted operating income was up 13% year-over-year driven by volume in the Turbomachinery & Process Solutions segment, and margin expansion in the Oilfield Equipment segment, partially offset by lower volume in the Oilfield Services and Digital Solutions segments.

Depreciation and amortization for the first quarter of 2021 was $292 million.

Adjusted EBITDA (a non-GAAP measure) for the first quarter of 2021 was $562 million, which excludes adjustments totaling $106 million before tax, mainly related to restructuring and separation related charges. Adjusted EBITDA for the first quarter was down 27% sequentially and down 5% year-over-year.

Corporate costs were $109 million in the first quarter of 2021, down 2% sequentially and down 11% year-over-year.

Other Financial Items

Income tax expense in the first quarter of 2021 was $69 million.

Other non-operating loss in the first quarter of 2021 was $626 million. Included in other non-operating loss was a $788 million loss from the change in fair value of the investment in C3.ai, partially offset by the reversal of current accruals of $121 million due to the settlement of certain legal matters.

GAAP diluted loss per share was $(0.61). Adjusted diluted earnings per share was $0.12. Excluded from adjusted diluted earnings per share were all items listed in Table 1a in the section entitled "Reconciliation of GAAP to non-GAAP Financial Measures" as well as the "other adjustments (non-operating)" found in Table 1c.

Cash flow from operating activities was $678 million for the first quarter of 2021. Free cash flow (a non-GAAP measure) for the quarter was $498 million. A reconciliation from GAAP has been provided in Table 1d in the section entitled "Reconciliation of GAAP to non-GAAP Financial Measures."

Capital expenditures, net of proceeds from disposal of assets, were $180 million for the first quarter of 2021.

Results by Reporting Segment

The following segment discussions and variance explanations are intended to reflect management's view of the relevant comparisons of financial results on a sequential or year-over-year basis, depending on the business dynamics of the reporting segments.

Oilfield Services (OFS) revenue of $2,200 million for the first quarter decreased by $82 million, or 4%, sequentially.

North America revenue was $625 million, up 1% sequentially. International revenue was $1,575 million, a decrease of 5% sequentially, driven by lower revenues in Russia CIS, the Middle East, and Europe, partially offset by Latin America.

Segment operating income before tax for the quarter was $143 million. Operating income for the first quarter was up $2 million, or 1% sequentially, primarily driven by productivity as a result of cost efficiencies and restructuring, partially offset by lower volume.

Oilfield Equipment (OFE) orders were down $147 million, or 30%, year-over-year, driven by lower order intake across most of the segment. Equipment orders were down 25% and services orders were down 35% year-over-year.

^{*Non-GAAP measure.}

OFE revenue of $628 million for the quarter decreased $84 million year-over-year. The decrease was driven by lower volume in the Subsea Services and the Subsea Drilling Systems businesses, and from the disposition of the Surface Pressure Control flow business in the fourth quarter of 2020, offset by higher volume in the Subsea Production Systems and the Flexible Pipe Systems businesses.

Segment operating income before tax for the quarter was $4 million, an increase of $12 million year-over-year. The increase was driven by higher cost productivity.

Investor Relations

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SAN RAMON, Calif. & PLANO, Texas--(BUSINESS WIRE)--Chevron U.S.A. Inc., through its Chevron Products Company division (Chevron), and Toyota Motor North America, Inc. (Toyota) announced a memorandum of understanding to explore a strategic alliance to catalyze and lead the development of commercially viable, large-scale businesses in hydrogen, with the goal to advance a functional, thriving global hydrogen economy.

Chevron and Toyota are seeking to work on three main strategic priorities: collaborating on hydrogen-related public policy measures that support the development of hydrogen infrastructure; understanding current and future market demand for light-duty and heavy-duty fuel cell electric vehicles and supply opportunities for that demand; and exploring opportunities to jointly pursue research and development in hydrogen powered transportation and storage.

“We are excited to collaborate with Toyota. Working towards a strategic alliance on hydrogen presents an opportunity to build a large-scale business in a low-carbon area that is complementary to our current offerings,” said Andy Walz, president of Chevron’s Americas Fuels & Lubricants. “This opportunity leverages our market position, assets, technology, and organizational capability and supports our efforts to help advance a lower-carbon future.”

“This is another important step toward building a hydrogen economy,” said Bob Carter, executive vice president, Toyota Motor North America. “Combining Toyota’s decades of experience in developing hydrogen powered fuel cell electric technology with Chevron’s deep resources in the energy sector has the potential to create new transportation choices for both consumers and businesses that move us toward our goal of carbon neutrality.”

About Chevron

Chevron U.S.A. Inc. is a subsidiary of Chevron Corporation, one of the world’s leading integrated energy companies. Through its subsidiaries that conduct business worldwide, Chevron Corporation is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company's operations. Chevron is based in San Ramon, CA. More information about Chevron is available at www.chevron.com.

About Toyota

Toyota (NYSE:TM) has been a part of the cultural fabric in North America for more than 60 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands plus our 1,800 dealerships. Toyota has created a tremendous value chain and directly employs more than 47,000 in North America. The company has contributed world-class design, engineering, and assembly of more than 40 million cars and trucks at our 14 manufacturing plants, 15 including our joint venture in Alabama that begins production in 2021.

Through its Start Your Impossible campaign, Toyota highlights the way it partners with community, civic, academic and governmental organizations to address our society’s most pressing mobility challenges. We believe that when people are free to move, anything is possible. For more information about Toyota, visit www.toyotanewsroom.com.

Tyler Kruzich, Chevron External Affairs
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Tania Saldana, Toyota Mobility Communications
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PORTLAND, Maine--(BUSINESS WIRE)--WEX (NYSE: WEX), a leading financial technology service provider, has signed a multi-year fuel card agreement with Kum & Go. The retailer ranked No. 18 on CSP's (Convenience Store Products) list of Top 202 Convenience Store Chains of 2020 and is continuing a trend of rapid growth. With more than 400 stores across 11 states and nearly 5,000 employees, Kum & Go is one of the largest privately held, company-operated convenience store chains in the United States.

“WEX has industry-leading technology and customer service that has allowed us to grow. Through our partnership together we have developed what we believe to be a top tier fleet program,” says Ken Kleemeier, vice president of fuels, Kum & Go. “As Kum & Go prepares for the future, it’s good to know we have a partner like WEX.”

Kum & Go, a long-standing WEX accepting merchant, has supported several WEX initiatives, including being a part of the WEX EDGE savings network where WEX customers can earn valuable fuel savings at participating locations.

“Kum & Go has been a valuable partner,” says Jay Collins, senior vice president and general manager, small business, WEX. “They want to be at the forefront of new initiatives and technology and are always interested in helping us develop new products. This agreement allows us to continue this momentum into the foreseeable future.”

About WEX

Powered by the belief that complex payment systems can be made simple, WEX (NYSE: WEX) is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in more than 20 currencies through more than 5,200 associates around the world. WEX fleet cards offer 15.8 million vehicles exceptional payment security and control; purchase volume in travel and corporate solutions was $20.9 billion in 2020; and the WEX Health financial technology platform helps 408,000 employers and 33.1 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.

About Kum & Go

For over 60 years, Kum & Go has been dedicated to the communities it serves, sharing 10 percent of its profits with charitable causes. For four generations the family-owned convenience store chain has focused on providing exceptional service and delivering more than customers expect. Established in Hampton, Iowa, in 1959, the chain has since grown to employ nearly 5,000 associates in 400 stores in 11 states: Iowa, Arkansas, Colorado, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oklahoma, South Dakota and Wyoming.

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Kum & Go Media Contact
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SAVANNAH, Ga.--(BUSINESS WIRE)--#ports--Genesee & Wyoming Inc. (G&W) today announced its subsidiary Savannah Port Terminal Railroad, Inc. (SAPT) has broadened its long-term rail services agreement with the Georgia Ports Authority (GPA) to include GPA’s new Mason Mega Rail Terminal.

The new agreement is especially significant as rail container capacity at the port, which already has the country’s largest and fastest-growing container terminal, is expected to double to two million TEUs per year with the completion of the Mason Mega Rail project later this year.

“We are confident in the ability of Genesee & Wyoming’s SAPT railroad to consistently provide the safe, efficient rail services needed to match our growth trajectory,” said GPA Executive Director Griff Lynch. “With the near completion of Garden City Terminal’s Mason Mega Rail project, intermodal trade via the Port of Savannah is expected to play an increasing role in our business.”

Founded by G&W in 1998, SAPT provides the Port of Savannah’s rail intermodal and merchandize service, railcar switching and yardmaster services, and interchange with connecting railroads CSX and Norfolk Southern, as well as track inspection and maintenance. SAPT currently operates 24/7 over 18 track-miles inside the Port, which is increasing by an additional 15 track-miles serving the Mega Rail Terminal. When completed later this year, the new terminal will have the ability to build and receive six 10,000-foot trains simultaneously and cut transit times to the Midwest by 24 hours.

“After 23 years of providing rail services to the Port of Savannah, it is an honor for SAPT to extend its relationship with Georgia Ports Authority for the long term and be entrusted with the doubling of rail capacity at such a vital component of U.S. transportation infrastructure and the nation’s economy,” said G&W Chief Executive Officer Jack Hellmann. “To support their success, customers demand that we provide safe, highly responsive service that is constantly adapting to new business conditions, and there is no better illustration of that close partnership than the phenomenal growth at the Port of Savannah.”

G&W railroads serve more than 30 ports in North America, the United Kingdom and continental Europe. Operations include direct rail service to inland, river and Atlantic/Gulf Coast/Pacific ports in North America; long-term contracts to operate rail infrastructure for leading port authorities in North America; “last mile” rail services within Europe’s largest port; and complete “dock-to-door” rail and road transport of maritime containers from the major U.K. seaports.

About Genesee & Wyoming

G&W owns or leases 116 freight railroads organized in locally managed operating regions with 7,300 employees serving 3,000 customers.

• G&W’s four North American regions serve 42 U.S. states and four Canadian provinces and include 113 short line and regional freight railroads with more than 13,000 track-miles.
• G&W’s UK/Europe Region includes the U.K.’s largest rail maritime intermodal operator and second-largest freight rail provider, as well as regional rail services in continental Europe.

G&W subsidiaries and joint ventures also provide rail service at more than 30 major ports, rail-ferry service between the U.S. Southeast and Mexico, transload services, and industrial railcar switching and repair. For more information, please visit www.gwrr.com or LinkedIn.

Michael Williams, G&W Corporate Communications
1-203-202-8916

• Net income of $0.19 per diluted share
• Cash flow from operating activities of $203 million and free cash flow of $157 million

HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) announced today net income of $170 million, or $0.19 per diluted share, for the first quarter of 2021. This compares to a net loss for the fourth quarter of 2020 of $235 million, or $0.27 per diluted share, as well as adjusted net income for the fourth quarter of 2020, excluding impairments and other charges, of $160 million, or $0.18 per diluted share. Reported operating income was $370 million in the first quarter of 2021 compared to reported operating loss of $96 million and adjusted operating income of $350 million in the fourth quarter of 2020, excluding impairments and other charges.

“I am pleased with our first quarter performance, which demonstrates the benefits of our strong operating leverage in a recovering global market. We achieved total company revenue of $3.5 billion and operating income of $370 million, representing increases of 7% and 6%, respectively, compared to revenue and adjusted operating income in the prior quarter,” commented Jeff Miller, Chairman, President and CEO.

“The first quarter marked an activity inflection for the international markets, while North America continued to stage a healthy recovery. I expect international activity growth to accelerate, and the early positive momentum in North America gives me confidence in the activity cadence for the rest of the year.

“Our free cash flow performance in the first quarter was a great first step to delivering strong free cash flow for the full year. It demonstrates our margin progression and focus on managing all aspects of capital efficiency, including technological advancements, process improvements, and working capital efficiencies.

“I am optimistic about how this transition year is shaping up. Our focus on technology innovation, digital investments, and capital efficiency positions us for profitable growth internationally and maximizing value in North America. Halliburton will continue to execute our key strategic priorities to deliver industry-leading returns and solid free cash flow as the multi-year recovery unfolds,” concluded Miller.

Operating Segments

Completion and Production

Completion and Production revenue in the first quarter of 2021 was $1.9 billion, an increase of $60 million, or 3%, when compared to the fourth quarter of 2020, while operating income was $252 million, a decrease of $30 million, or 11%. The increase in revenue was driven by higher stimulation and artificial lift activity in North America, higher cementing activity in the North Sea, improved stimulation activity in Argentina and Mexico, and higher completion tools sales in Latin America. This increase was partially offset by lower cementing services in Russia, lower pressure pumping activity in the Middle East, reduced seasonal completion tools sales, and lower well intervention services in the Eastern Hemisphere. Operating income was negatively impacted primarily by decreased completion tools sales, as well as reduced pressure pumping activity in the Eastern Hemisphere.

Drilling and Evaluation

Drilling and Evaluation revenue in the first quarter of 2021 was $1.6 billion, an increase of $154 million, or 11%, when compared to the fourth quarter of 2020, while operating income was $171 million, an increase of $54 million, or 46%. These increases were primarily due to higher software sales globally, improved drilling-related services and wireline activity in the Western Hemisphere and Norway, and increased project management activity internationally, which were partially offset by lower drilling-related services in Asia.

Geographic Regions

North America

North America revenue in the first quarter of 2021 was $1.4 billion, a 13% increase when compared to the fourth quarter of 2020. This increase was driven by higher drilling-related services, stimulation, and artificial lift activity in North America land, as well as higher wireline activity and software sales in North America land and the Gulf of Mexico. Partially offsetting these increases were reduced completion tools sales and lower cementing and fluids activity in the Gulf of Mexico.

International

International revenue in the first quarter of 2021 was $2 billion, a 2% increase when compared to the fourth quarter of 2020. This improvement was driven by higher activity across multiple product service lines in Latin America and the North Sea, coupled with increased software sales and project management activity internationally. Partially offsetting these increases were lower completion tools sales, reduced well intervention services in the Eastern Hemisphere, lower stimulation activity in the Middle East, reduced cementing activity in Russia, and lower drilling-related services in Asia.

Latin America revenue in the first quarter of 2021 was $535 million, a 26% increase sequentially, resulting primarily from increased activity in multiple product service lines in Argentina and Mexico, as well as higher fluid services in the Caribbean. Partially offsetting these improvements was reduced activity across multiple product service lines in Colombia.

Europe/Africa/CIS revenue in the first quarter of 2021 was $634 million, a 1% decrease sequentially, resulting primarily from reduced completion tools sales and well intervention services across the region, coupled with lower activity in Russia and lower fluid services in Kazakhstan. These decreases were partially offset by higher well construction activity in the North Sea and increased software sales across the region.

Middle East/Asia revenue in the first quarter of 2021 was $878 million, a 6% decrease sequentially, largely resulting from lower stimulation and well intervention services in the Middle East, reduced drilling-related activity in Indonesia and China, and lower completion tools sales across the region. These decreases were partially offset by improved project management activity in Iraq and Saudi Arabia, and higher wireline activity in Asia.

Selective Technology & Highlights

• Halliburton successfully delivered real-time control of fracture placement while pumping on a multi-well pad using the SmartFleet™ intelligent fracturing system in the Permian Basin. An industry first, SmartFleet applies automation enabled by subsurface measurements and real-time visualization to intelligently adapt and respond to reservoir behavior, driving real-time improvement in completion execution and fracture outcomes.

• Halliburton introduced the Ovidius™ isolation system, a new packer that transforms from an engineered metal alloy into a rock-like material when it reacts with downhole fluids, creating a long-lasting seal for improved well integrity. Operators can deploy Ovidius in wellbore isolation applications, where it will provide the traditional benefits of expanding elastomers with new capabilities to withstand differential pressures and extreme temperatures found in the most challenging high-pressure/high-temperature environments while providing unparalleled anchoring forces.

• Kuwait Oil Company (KOC) awarded Halliburton a contract to collaborate on their digital transformation journey through the maintenance and expansion of digital solutions for their North Kuwait asset. It will allow KOC to accelerate their data-to-decisions cycle by designing and operating digital twins of the field to automate work processes, supported by DecisionSpace® 365, a cloud-based subscription service for E&P applications.

• Halliburton signed an eight-year contract with the Norwegian Petroleum Directorate (NPD) to deploy and operate Diskos, the national repository of seismic, well, and production data for the Norwegian oil and gas industry. Halliburton Landmark will deliver Diskos 2.0 using DecisionSpace® 365 cloud services in iEnergy® – the industry’s first E&P hybrid cloud. The cloud-native services are Open Subsurface Data Universe™ compliant and provide high-quality data, security, and governance, so users can easily access, visualize, and interpret data from the Norwegian Continental Shelf.

• Halliburton and Optime Subsea formed a global strategic alliance to apply Optime’s innovative Remotely Operated Controls System (ROCS) to Halliburton’s completion landing string services. The companies will also collaborate and offer intervention and workover control system services leveraging Optime’s Subsea Controls and Intervention Light System (SCILS) technology, a remote digital enabled system that complements Halliburton’s subsea intervention expertise. The alliance will provide umbilical-less operations and subsea controls for deepwater completions and interventions delivering increased operational efficiencies while minimizing safety risk through a smaller offshore footprint. Halliburton will offer Optime’s innovative technologies as a service across its global portfolio.

• Bhavesh V. (Bob) Patel joined Halliburton’s board of directors effective February 17, 2021. He will stand for election by shareholders at the Company’s annual meeting on May 19,2021. Mr. Patel serves as chief executive officer of LyondellBasell, one of the largest plastics, chemicals, and refining companies in the world. Prior to becoming CEO, he served in senior executive leadership roles for LyondellBasell’s largest business segment.

• Halliburton Labs announced the inaugural group of companies selected to participate in its collaborative environment where entrepreneurs, academics, and investors come together to advance cleaner, affordable energy. Enexor BioEnergy, Momentum Technologies and OCO Inc. will have access to Halliburton’s deep business and technical expertise, facilities, and network to accelerate their respective offerings.

About Halliburton

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

Forward-looking Statements

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the severity and duration of the COVID-19 pandemic, related economic repercussions and the resulting negative impact on demand for oil and gas; the current significant surplus in the supply of oil and the ability of the OPEC+ countries to agree on and comply with supply limitations; the duration and magnitude of the unprecedented disruption in the oil and gas industry currently resulting from the impact of the foregoing factors, which is negatively impacting our business; operational challenges relating to the COVID-19 pandemic and efforts to mitigate the spread of the virus, including logistical challenges, protecting the health and well-being of our employees, remote work arrangements, performance of contracts and supply chain disruptions; the continuation or suspension of our stock repurchase program, the amount, the timing, and the trading prices of Halliburton common stock, and the availability and alternative uses of cash; changes in the demand for or price of oil and/or natural gas; potential catastrophic events related to our operations, and related indemnification and insurance matters; protection of intellectual property rights and against cyber-attacks; compliance with environmental laws; changes in government regulations and regulatory requirements, particularly those related to oil and natural gas exploration, radioactive sources, explosives, chemicals, hydraulic fracturing services, and climate-related initiatives; compliance with laws related to income taxes and assumptions regarding the generation of future taxable income; risks of international operations, including risks relating to unsettled political conditions, war, the effects of terrorism, foreign exchange rates and controls, international trade and regulatory controls and sanctions, and doing business with national oil companies; weather-related issues, including the effects of hurricanes and tropical storms; changes in capital spending by customers, delays or failures by customers to make payments owed to us, and the resulting impact on our liquidity; execution of long-term, fixed-price contracts; structural changes and infrastructure issues in the oil and natural gas industry; maintaining a highly skilled workforce; availability and cost of raw materials; agreement with respect to and completion of potential dispositions, acquisitions and integration and success of acquired businesses and operations of joint ventures. Halliburton's Form 10-K for the year ended December 31, 2020, recent Current Reports on Form 8-K and other Securities and Exchange Commission filings discuss some of the important risk factors identified that may affect Halliburton's business, results of operations, and financial condition. Halliburton undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

For Investors:
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Halliburton, Investor Relations
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FREIBURG, Germany--(BUSINESS WIRE)--#CTO--NexWafe GmbH today named Dr. Dirk Habermann its Chief Technology Officer. Dr. Habermann brings extensive experience in delivering products from small batch piloting to full production manufacturing at some of the photovoltaic industry’s top manufacturing companies.

NexWafe is pioneering the use of a proprietary green silicon manufacturing process fully compatible with conventional solar cell manufacturing. The result is ultra-thin, high-efficiency, monocrystalline silicon wafers that can lower their production costs while increasing solar panel efficiency.

Prior to his new position at NexWafe, Dr. Habermann served as a consultant to NexWafe while heading H2GEMINI Technology Consulting GmbH in Switzerland. H2GEMINI develops and markets technology solutions for photovoltaics, wind energy and energy storage systems. Prior to H2GEMINI, Mr. Habermann served as Chief Innovation Officer and CTO at Switzerland-based Meyer Burger Technology AG, a leading European photovoltaic (PV) company, after being elevated from his role as Head of Process, Material and Line Design there. Other industry roles he has held include VP of R&D at the Schmid Group, Technical Director of SCHMID Technology Systems GmbH, and Process Manager at RENA GmbH.

“NexWafe recently completed a €10 million round of funding, putting us on our way to pilot production and beyond,” said Davor Sujita, CEO of NexWafe. “Dr. Habermann will be instrumental in accelerating the pace of our wafer development so manufacturers can start building even more efficient photovoltaic cells into their solar panels as part of the global energy transition.”

Prior to working in the photovoltaics industry, Dr. Habermann worked as a consultant to electronics companies while also serving as an Assistant Professor in Experimental Physics at the Technical University Bergakademie Freiberg.

About NexWafe GmbH
NexWafe GmbH designs, develops and pilots a proprietary process to produce ultra-thin, high-efficiency, monocrystalline green solar wafers to make photovoltaics more sustainable and efficient. Fully compatible with conventional solar cell manufacturing, NexWafe offers a 70% reduction in carbon dioxide emissions during manufacturing. NexWafe’s continuous, direct gas-to-wafer manufacturing process also minimizes waste, resulting in wafers that are 30% less expensive than conventional wafers. NexWafe’s in-line, ultra-scalable process shatters cost down roadmap barriers and inherently supports the industry’s extraordinary growth as the transition to solar power accelerates worldwide. The company was spun out from Fraunhofer Institute for Solar Energy Systems ISE in 2015. For more information, please visit https://www.nexwafe.com and follow on LinkedIn and Twitter.

Jenna Beaucage or Alan Ryan
Rainier Communications
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Backed by Clearlake Capital, Unifrax’s new fiber-based catalysis media offers enhanced production for specialty chemical and industrial catalytic reactions, with applications in hydrogen gas and fuel cell production

BUFFALO, N.Y.--(BUSINESS WIRE)--Unifrax, the leading manufacturer of high-performance specialty materials, today introduced FlexCat™ by Unifrax, a new high-surface area flexible media designed to provide enhanced catalyst effectiveness with increased yield using fewer raw materials. For use in fuel cells, specialty gas production, chemical processing, air purification and other applications, FlexCat offers catalyzers and industrial partners better performance, considerable cost savings, and improved safety for employees.

A game-changing solution for specialty catalyst markets

With many industries currently relying on alumina pellets to drive catalytic reactions, specialty chemical companies often grapple with stalled reactions because of clogged materials, large upfront investments and significant space requirements. They are also forced to contend with environmentally harmful emissions. To address these issues, Unifrax has designed a fibrous catalyst support solution that is 15 times lighter on average than the industry standard, while using significantly less precious metal catalysts and rare earth metals to drive an increase in yield while improving purity. This allows for increased output using existing equipment and enables a smaller reactor footprint for future designs. FlexCat can be incorporated into existing plant emission control systems to drive lower carbon footprints and allowing customers to meet tougher Environmental Protection Agency (EPA) standards.

“FlexCat is a truly revolutionary offering as a very lightweight, customized product form that is extremely durable in the harsh conditions typically encountered in many reactors,” said Chad Cannan, senior vice president of research and development, Unifrax. “FlexCat provides our industry partners with the potential to save millions of dollars across their operations in material costs, capital investments and improved quality from existing equipment. From cleaner emissions to meeting tougher EPA standards to increased purity, flow rates, and conversion speeds, the introduction of FlexCat is a true environmental, social, and governance (ESG) game changer for the industry.”

FlexCat is also poised to impact the hydrogen economy. As the demand for hydrogen increases, FlexCat supports the growth of hydrogen production through better selectivity and increased yield using significantly less catalyst material. FlexCat technology drives greater adoption by utilizing smaller and more efficient units that span from fuel cells to consumer devices.

Fiber-based technology that delivers

Leveraging the effective surface area of Unifrax’s unique fibrous material, FlexCat offers enhanced outputs by providing a more tortuous path for improved catalysis inside a reactor. FlexCat eliminates the need for any prewash or zeolite-coating process before applying catalyst metals. Testing to date has shown:

• Ability to use up to 80 percent less metal, including platinum group metals (PGMs), while obtaining the same conversion yield
• Extreme durability to nearly 1,850°F (~1,000°C) with more consistent product purity
• Enhanced conversion and selectivity of catalytic reactions, even after aging, allowing industrial plants better output with existing equipment
• Strong adhesion of PGMs and almost no loss of catalyst, even after thermal aging

FlexCat’s lightweight fiber mat structure allows for safer installation and removal, and limits hazardous waste, important benefits for Unifrax’s client’s workforce and the safety of the environment.

FlexCat and Unifrax’s deep technology portfolio

FlexCat is Unifrax’s first step into industrial catalysis, building on the company’s deep history of fiber-based technology and manufacturing. Unifrax has a track record of 75+ years developing and supplying engineered inorganic materials on a large scale to advanced industries worldwide, including electric vehicles, aerospace and chemical processing.

“Unifrax continues to pursue its mission to provide greener, cleaner, and safer solutions for our customers and partners. FlexCat is a revolutionary step forward for industrial catalysis that delivers on those three pillars,” commented John Dandolph, president and CEO, Unifrax. “Unifrax has worked closely with petrochemical and renewable fuels partners throughout our company’s history. As these industries look for new and innovative technologies to deliver cost-savings and efficiencies that current products can’t offer today, products like FlexCat, along with our new vehicle emissions technology Eco-lytic™, deliver unique, game-changing solutions to catalysis industries overall. These products will have a transformational impact on safety, cost, and the environment in hundreds of industrial and chemical processes.”

Customizable for individual partners, processes and specific reactions, FlexCat can be manufactured at scale today. Unifrax will be available at Hydrogen 2021 Digital Conference & Exhibition to discuss in more with interested parties. For more information on the event visit this link.

Learn more about FlexCat at www.unifrax.com/landing-page/flexcat/.

About Unifrax

Unifrax develops and manufactures high-performance specialty materials used in advanced applications, including high-temperature industrial insulation, electric vehicles, energy storage, filtration and fire protection, among many others. Unifrax products are designed with the ultimate goal of saving energy, reducing pollution and improving safety for people, buildings and equipment by delivering on our commitment to our customers of greener, cleaner, safer solutions for their application challenges. Unifrax has 37 manufacturing facilities operating in 12 countries and employs 2,700+ employees globally. More information is available at www.unifrax.com. For updates, follow us on Twitter, LinkedIn, and Facebook.

About Clearlake

Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.^® The firm’s core target sectors are industrials, technology and consumer. Clearlake currently has approximately $35 billion of assets under management and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.

For Unifrax:
Deborah L. Myers
Global Marketing Communication Director
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716.812.4802

For Clearlake:
Jennifer Hurson
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845.507.0571

Merger on track to close in the second half of 2021

ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, announced today that it has received Federal Energy Regulatory Commission (FERC) approval for its proposed PNM Resources (NYSE: PNM) merger.

“This approval is an important step in the merger process, which will bring together two companies focused on delivering safe, reliable and clean energy for customers and communities,” said Dennis V. Arriola, CEO of AVANGRID. “The merger will further AVANGRID’s growth in both clean energy distribution and transmission, as well as expand our leadership position in renewables.”

Today’s announcement follows Federal Communications Commission (FCC) approval, the approval of the merger by PNM Resources’ shareholders, the receipt of regulatory clearance from the Committee on Foreign Investment in the United States (CFIUS) and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

The company recently announced a unanimous stipulation agreement with all parties for the merger approval before the Public Utility Commission of Texas and continues to pursue state approval for the merger from the New Mexico Public Regulation Commission. The merger also requires approval from the Nuclear Regulatory Commission.

AVANGRID announced the strategic PNM Resources merger combination in October 2020 in an all cash offer for PNM Resources’ shares at $50.30 per share, an $8.3 billion enterprise value transaction. The resulting entity would be one of the major clean energy companies in the US with ten regulated utilities in six states and the third largest renewables company with operations in 24 states.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $38 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by Forbes and Just Capital as one of the 2021 JUST 100 companies – a list of America’s best corporate citizens – and was ranked number one within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com

Forward-Looking Statements

Certain statements made in this press release for AVANGRID that relate to future events or expectations, developments, projections, estimates, intentions, goals, targets, and strategies are made pursuant to the Private Securities Litigation Reform Act of 1995. All statements contained in this Press Release that do not relate to matters of historical fact should be considered forward-looking statements, and are generally identified by words such as “may,” “will,” “would,” “can,” “expect(s),” “intend(s),” “anticipate(s),” “estimate(s),” “believe(s),” “future,” “could,” “should,” “plan(s),” “aim(s),” “assume(s)”, “project(s)”, “target(s)”), “forecast(s)”, “seek(s)” and or the negative of such terms or other variations on such terms, comparable terminology or similar expressions. These forward-looking statements generally include statements regarding the potential transaction between AVANGRID and PNM Resources, including any statements regarding the expected timetable for completing the potential merger, the ability to complete the potential merger, the expected benefits of the potential merger, projected financial information, future opportunities, and any other statements regarding AVANGRID’s and PNM Resources’ future expectations, beliefs, plans, objectives, results of operations, financial condition and cash flows, or future events or performance. Readers are cautioned that all forward-looking statements are based upon current reasonable beliefs, expectations and assumptions. AVANGRID assumes no obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, AVANGRID cautions readers not to place undue reliance on these statements.

AVANGRID’s business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond its control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see AVANGRID’s Form 10-K and Form 10-Q filings and the information filed on Avangrid’s Forms 8-K with the Securities and Exchange Commission (the “SEC”) as well as its subsequent SEC filings, and the risks and uncertainties related to the proposed merger with PNM Resources, including, but not limited to: the expected timing and likelihood of completion of the pending merger, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending merger that could reduce anticipated benefits or cause the parties to abandon the transaction, the failure by AVANGRID to obtain the necessary financing arrangement set forth in commitment letter received in connection with the Merger, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, the risk that the parties may not be able to satisfy the conditions to the proposed Merger in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed Merger, and the risk that the proposed transaction and its announcement could have an adverse effect on the ability of PNM Resources to retain and hire key personnel and maintain relationships with its customers and suppliers, and on its operating results and businesses generally. Other unpredictable or unknown factors not discussed in this communication could also have material adverse effects on forward looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

Media:
Athena Hernandez, 203-231-2146 or
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Investors:
Patricia Cosgel, 203-499-2624 or
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