NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today reported results for the fourth quarter and full year of 2022.

HIGHLIGHTS & RECENT DEVELOPMENTS

• Highest Earnings in Our History: Net income for the fourth quarter was $218.4 million, or $4.40 per diluted share, compared to a net loss of $34.0 million, or $0.68 per diluted share, in the fourth quarter of 2021. For the full year 2022, net income was $387.9 million, or $7.77 per diluted share, representing an increase of $521.4 million compared to the full year of 2021, which was a net loss of $133.5 million, or $3.48 per share.
  
  
• Adjusted EBITDA^(A) for the fourth quarter was $254.3 million and for the full year of 2022 was $549.1 million.
  
  
• Total liquidity was $541.1 million as of December 31, 2022, which includes cash (and short-term cash investments)^(B) of $323.7 million and $217.4 million of remaining undrawn revolver capacity.
  
  
• Fleet Optimization Program:
  • Sold a 2008-built MR in the fourth quarter for net proceeds after debt repayment of approximately $14 million and has agreed to sell another 2008-built MR in the first quarter of 2023, which is expected to generate $14 million in net proceeds after debt repayment.
  • Declared purchase options on two, 2009-built Aframaxes under sale leaseback arrangement for an expected net cash outflow in March 2023 of approximately $41 million in aggregate, representing at a discount of over 45% to current market prices.
    

• Balance Sheet Enhancements:
  • Received commitments from the Company’s lenders for the $750 Million Credit Facility to amend the senior secured credit facility, subject to completion of formal documentation and closing, which is expected to occur in March 2023, to among other things:
    • Increase the revolving credit facility (“RCF”) by $40 million to nearly $260 million, which remains fully undrawn.
    • Reduce the outstanding balance on the term loan by approximately $100 million, as a result of a prepayment to be made on closing.
    • Reduce the collateral package by 22 vessels, creating unencumbered vessels representing nearly one-third of the total fleet.

• Returns to Shareholders:
  • Declared a combined dividend of $2.00 per share composed of a supplemental dividend of $1.88 per share in addition to regular quarterly cash dividend of $0.12 per share to be paid in March 2023.
  • During 2022, the Company paid a cumulative $1.42 per share in regular and supplemental dividends and repurchased 687,740 shares for approximately $20 million, representing nearly $90 million in returns to shareholders.
  • Returned to shareholders over $280 million in aggregate since the start of 2020.

“2022 was an outstanding year for Seaways, as we capitalized on our increased scale, further enhanced our financial strength, and continued to return significant capital to shareholders,” said Lois K. Zabrocky, International Seaways’ President and CEO. “We generated record earnings for the third consecutive quarter as a result of our strategy of building a diverse fleet of crude and product tankers with sizable operating leverage. In 2022, we continued to build our track record of returning cash to shareholders with nearly $90 million in cash returns by doubling our quarterly dividend, adding supplemental dividends and executing our share repurchase program. Today, we’re continuing that momentum, announcing a combined dividend of $2.00 per share, representing cumulative returns to shareholders of over $280 million since the start of 2020.”

Ms. Zabrocky added, “We are well positioned to carry our significant momentum forward and we anticipate continued market strength based on growing demand and higher tanker utilization from the shifting global energy trade, combined with the lowest orderbook in more than 30 years. We expect near-term catalysts to continue to drive tanker earnings, including sanctions on Russian oil and the reopening of China. Our operating leverage positions us well to capitalize on these trends. Our history of renewing our fleet at cyclical lows continues to serve us well, and we look forward to the delivery of three dual-fuel LNG VLCCs in the first half of 2023, which will not only reduce our carbon footprint today but are well suited to adhere to anticipated environmental regulation into the future.”

Jeff Pribor, the Company’s CFO stated, “We continue to strengthen our balance sheet, generating significant free cash flow from our diversified fleet. With ample liquidity of over $540 million at year’s end and a net loan-to-value ratio of under 24%, we remain focused on executing our disciplined capital allocation strategy, investing in the fleet opportunistically, further de-levering, and continuing to return cash to shareholders. Following the closing of the amendment to our credit facility, our cash break-even levels are expected to decrease by more than $600 per day, which further enhances our ability to generate more free cash flow and continue building our track record of returning cash to shareholders.”

FOURTH QUARTER 2022 RESULTS

Net income for the fourth quarter of 2022 was $218.4 million, or $4.40 per diluted share, compared to a net loss of $34.0 million, or $0.68 per diluted share, for the fourth quarter of 2021. Net income for the quarter reflects the impact of the disposal of older vessels and the write-off of deferred finance costs aggregating $9.7 million. Net income excluding these items was $208.8 million, or $4.21 per diluted share. The increase in the fourth quarter of 2022 was primarily driven by a $242.7 million increase in TCE revenues^(C) as a result of higher demand for tankers due to seasonality, restocking of historically low global inventories and the effects of sanctions on Russian oil that disrupted trading patterns leading to longer voyages and higher tanker utilization.

Consolidated TCE revenues for the fourth quarter were $335.7 million, compared to $93.0 million for the fourth quarter of 2021. Shipping revenues for the fourth quarter were $338.2 million, compared to $94.7 million for the fourth quarter of 2021.

Adjusted EBITDA for the fourth quarter was $254.3 million, compared to $11.9 million for the fourth quarter of 2021.

Crude Tankers

TCE revenues for the Crude Tankers segment were $150.7 million for the fourth quarter, compared to $42.4 million for the fourth quarter of 2021. This increase was primarily attributable to an increase in spot rates as the average spot earnings of the VLCC, Suezmax and Aframax sectors were approximately $64,600, $59,100 and $62,000 per day, respectively, compared with approximately $14,300, $13,100 and $11,500 per day, respectively, during the fourth quarter of 2021. Shipping revenues for the Crude Tankers segment were $152.9 million for the fourth quarter of 2022, compared to $44.5 million for the fourth quarter of 2021.

Product Carriers

TCE revenues for the Product Carriers segment were $184.9 million for the fourth quarter, compared to $50.5 million for the fourth quarter of 2021. This significant increase is attributable to substantially higher spot rates with average spot earnings for the LR1 and MR sectors of approximately $64,000 and $39,700 per day, respectively, in the fourth quarter of 2022 compared with approximately $17,400 and $11,300 per day, respectively, in the fourth quarter of 2021. Shipping revenues for the Product Carriers segment were $185.2 million for the fourth quarter, compared to $50.2 million for the fourth quarter of 2021.

FULL YEAR 2022 RESULTS

Net income for the year ended December 31, 2022, was $387.9 million, or $7.77 per diluted share, compared to a net loss of $133.5 million, or $3.48 per diluted share, for the year ended December 31, 2021. The reported net income for 2022 includes the impact of one-time items, consisting of the gain on disposal of vessels, vessel impairments, net loss on sale of investments in affiliated companies, debt modification expenses and write-off of deferred financing costs, which aggregated $7.8 million. Excluding these items, net income for 2022 was $380 million, or $7.62 per diluted share.

Consolidated TCE revenues for the year ended December 31, 2022, were $853.7 million, compared to $255.9 million for the year ended December 31, 2021. Shipping revenues for the year ended December 31, 2022, were $864.7 million, compared to $272.5 million for the year ended December 31, 2021.

Adjusted EBITDA for the year ended December 31, 2022 was $549.1 million, compared to $40.4 million for the year ended December 31, 2021.

Crude Tankers

TCE revenues for the Crude Tankers segment were $321.9 million for the year ended December 31, 2022, compared to $144.3 million for the year ended December 31, 2021. Shipping revenues for the Crude Tankers segment were $331.7 million for the year ended December 31, 2022, compared to $156.3 million for the year ended December 31, 2021.

Product Carriers

TCE revenues for the Product Carriers segment were $531.9 million for the year ended December 31, 2022, compared to $111.6 million for the year ended December 31, 2021. Shipping revenues for the Product Carriers segment were $533.0 million for the year ended December 31, 2022, compared to $116.3 million for the year ended December 31, 2021.

DELEVERAGING INITIATIVES

In August 2022, the Company redeemed the $25 million aggregate principal outstanding of the 8.5% senior notes due June 2023.

In November 2022, the Company repaid the outstanding balance of $17.8 million on the term loan facility with Macquarie Bank, which unencumbered three vessels.

In February 2023, the lending syndicate for the $750 Million Credit Facility unanimously committed to amend the facility whereby the Company will make a prepayment of approximately $100 million on the term loan, the revolving credit facility will increase by $40 million and 22 vessels will be removed from the collateral package. The amendment is subject to formal documentation and signing, which is expected to occur in March 2023.

FLEET OPTIMIZATION PROGRAM

During 2022, the Company sold or recycled eight vessels with an average age of over 16.5 years. Two of the eight vessels were Panamaxes built between 2002 and 2004 that were sold to be recycled in compliance with the Hong Kong Convention. The Company sold all four of its remaining Handysize vessels with an average age of approximately 16 years and two 2008-built MRs, which saved approximately $4 million per vessel on upcoming drydock and ballast water treatment installation expenditures. In total, net proceeds after debt repayments from vessel sales and recycling were approximately $68 million.

In the first quarter of 2023, the Company has also agreed to sell another 2008-built MR, the High Mercury, which is expected to generate approximately $14 million in net proceeds after debt repayment.

In March 2022, the Company also completed the sale of a 2010-built MR and the purchase of a 2011-built LR1 with the same counterparty for a net cost of approximately $3 million. The LR1 was delivered into our niche commercial pool, Panamax International.

In December 2022, the Company exercised its purchase options on two 2009-built Aframax vessels under sale leaseback arrangement, which were accounted for as operating leases prior to declaration of the options. The vessels are expected to deliver in March 2023 at a net purchase price payable at exercise of approximately $41 million, representing a discount of approximately 45% to the current market value of these vessels.

During 2022, the Company completed the installation of a scrubber on a 2012-built Suezmax, increasing the total count of the fleet fitted with scrubbers to 12, of which ten are VLCCs and two are Suezmaxes. Drydockings for 15 vessels were completed during 2022.

The newbuilding program, composed of three dual-fuel VLCCs, continues to progress with one vessel scheduled for March 2023 delivery and the remaining two scheduled for delivery in the first half of 2023. The vessels were ordered for an aggregate contract price of $288 million and have approximately $172 million in remaining payments as of December 31, 2022, which are fully financed under a sale leaseback arrangement. Upon delivery, the vessels will commence long term time charters with an oil major for the next seven years.

RETURNING CASH TO SHAREHOLDERS

During 2022, the Company doubled its regular quarterly dividend from $0.06 per share to $0.12 per share. The Company also paid a supplemental dividend of $1.00 per share in December 2022. In total, the Company paid $69.8 million in dividends during 2022.

In August 2022, the Company repurchased 687,740 shares of its common stock in open market purchases, at an average price of $29.08 per share, for a total cost of approximately $20.0 million. The Company’s current share repurchase program has approximately $40.0 million remaining and extends through the end of 2023.

The Company’s Board of Directors declared a regular quarterly dividend of $0.12 per share of common stock and a supplemental dividend of $1.88 per share of common stock on February 27, 2023. Both dividends will be paid on March 28, 2023, to shareholders with a record date at the close of business on March 14, 2023.

BALANCE SHEET ENHANCEMENTS

In May 2022, the Company refinanced three existing credit facilities into a senior secured credit facility with an aggregate capacity of $750 million (the “$750 Million Credit Facility”), composed of a term loan with an aggregate principal amount of $530 million and a revolving credit facility of $220 million. The five-year agreement, which was nearly two times oversubscribed, extended the Company’s debt maturities, reduced the average margin and lowered quarterly amortization payments. The Company also enhanced its sustainability-linked features in the covenant structure of the $750 Million Credit Facility to include a target expenditure on energy efficiency improvements, decarbonization and other environmental related initiatives and a safety target (lost time injury frequency performance) in addition to reduction in carbon emissions outlined in the Poseidon Principles.

In June 2022, the Company sold its 50% stake in two floating storage and offshore (“FSO”) vessels to its joint venture partner. The Company received proceeds, net of adjustments for working capital and expenses, of $140 million.

In the first half of 2022, the Company refinanced three MRs through sale and leaseback arrangements with Japanese leasing companies, which generated approximately $21.7 million after debt repayment.

CONFERENCE CALL

The Company will host a conference call to discuss its fourth quarter 2022 results at 10:00 a.m. Eastern Time (“ET”) on Tuesday, February 28, 2023. To access the call, participants should dial (833) 470-1428 for domestic callers and (929) 526-1599 for international callers and entering 426484. Please dial in ten minutes prior to the start of the call. A live webcast of the conference call will be available from the Investor Relations section of the Company’s website at https://www.intlseas.com.

An audio replay of the conference call will be available until March 7, 2023 by dialing (866) 813-9403 for domestic callers and +44 204 525 0658 for international callers, and entering Access Code 907092.

ABOUT INTERNATIONAL SEAWAYS, INC.

International Seaways, Inc. (NYSE: INSW) is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 77 vessels, including 13 VLCCs (including three newbuildings), 13 Suezmaxes, five Aframaxes/LR2s, eight LR1s and 38 MR tankers. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY. Additional information is available at https://www.intlseas.com.

Forward-Looking Statements

This release contains forward-looking statements. In addition, the Company may make or approve certain statements in future filings with the U.S. Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of the Company. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate plans to issue dividends, the Company’s prospects, including statements regarding vessel acquisitions, expected synergies, trends in the tanker markets, and possibilities of strategic alliances and investments. Forward-looking statements are based on the Company’s current plans, estimates and projections, and are subject to change based on a number of factors. Investors should carefully consider the risk factors outlined in more detail in the Annual Report on Form 10-K for 2022 for the Company, and in similar sections of other filings made by the Company with the SEC from time to time. The Company assumes no obligation to update or revise any forward-looking statements. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by the Company with the SEC.

Investor Relations & Media:
Tom Trovato, International Seaways, Inc.
(212) 578-1602
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Category: Earnings

TULSA, Okla.--(BUSINESS WIRE)--W Energy Software, a leading provider of cloud-based accounting and Enterprise Resource Planning (ERP) software supporting multiple energy commodities, today announced that Andy James will join as Chief Product Officer. Bringing vast product strategy experience, James will lead the product management, domain, and functional architecture, UI/UX, and release management teams in close partnership with our engineering team to continue building an industry leading SaaS ERP platform for the future of energy.

Based in Houston and with over 30 years of experience, James joins W Energy from Bluware where he led the commercialization of energy-related Deep Learning solutions and Cloud Technologies. Prior to Bluware, James held leadership positions at IHS Markit and Haliburton, leaving him uniquely qualified to guide W Energy in accelerating its growth though continued product innovation.

W Energy’s CEO, Rachel Collins, said of the announcement: “Andy has a strong reputation for leading with humility and empathy, coaching exceptional talent, and operating with a customer-centric mindset. We're committed to helping our customers simplify their operations by building a product that is flexible and easy to use. As W Energy continues to grow, I am confident that Andy’s knowledge, product innovation expertise, and progressive leadership style will be invaluable to our employees, customers, and partners.”

"It's a privilege to join W Energy, particularly at this moment in the company's history, and I am excited to be a key part of this inspiring executive leadership team focused on driving growth through a worldclass global Product team," said James. "Throughout my career, I have worked closely with developers and customers to build solutions that help drive sustainable growth. W Energy is strongly positioned to build the industry-leading SaaS ERP platform for energy companies, and I'm honored to be a part of the journey."

The announcement comes amidst rapid customer growth and strategic product expansion at W Energy, including the acquisition of Seven Lakes. The integration of Seven Lakes extended the company’s offerings into AI-optimized field operations, data gathering, and production accounting. Seven Lakes’ microservices architecture will transform W Energy’s offerings into a comprehensive, fully modularized, and integrated platform that is native to the cloud.

About W Energy Software

Headquartered in Tulsa, Oklahoma, W Energy Software offers the energy industry a unified ERP solution built for the cloud that is relied on by some of the largest and most distinguished brands in upstream and midstream companies to accelerate business performance, improve operational efficiency, and reduce costs. W Energy Software combines precision-built software in one extendable cloud-based workspace to deliver solutions that offer flexibility, affordability, and continuous delivery. With W Energy Software, energy companies stay lean and agile with the tools they need to adapt to market changes and meet evolving customer needs head-on, all while gaining the confidence that their business is future-proof with the latest technology. W Energy Software’s investors include True Wind Capital and M33 Growth. For more information, please visit www.wenergysoftware.com.

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THE WOODLANDS, Texas--(BUSINESS WIRE)--Excelerate Energy, Inc. (the “Company” or “Excelerate”) (NYSE: EE) and Venture Global LNG announced today the execution of a 20-year LNG Sales and Purchase Agreement (SPA). Under the SPA, Excelerate will purchase 0.7 million tonnes per annum (MTPA) of liquefied natural gas (LNG) on a free on board (FOB) basis from the Plaquemines LNG facility in Plaquemines Parish, Louisiana.

“We are proud to enter this new strategic partnership with Venture Global, which supports our efforts to enhance energy security and accelerate the energy transition by delivering natural gas to our customers worldwide,” said Steven Kobos, President and Chief Executive Officer of Excelerate. “This agreement is an important milestone for Excelerate as we continue to execute our growth strategy. Building a diversified LNG supply portfolio with strong partners like Venture Global will allow us to offer more flexible and cost-effective products to existing and new customers in downstream markets.”

“Venture Global is thrilled to launch this new collaboration with Excelerate, a leader in the FSRU industry, as their inaugural long-term LNG supplier,” said Mike Sabel, Chief Executive Officer of Venture Global. “Their foresight and transformational work to bring much needed energy infrastructure to markets around the globe has enabled countries from Europe, the global south, and the developing world to fuel switch from coal to natural gas while lifting millions out of energy poverty. We look forward to many years ahead of working together as strategic partners to fuel these diverse markets worldwide.”

ABOUT EXCELERATE ENERGY

Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to customers. The Company offers a full range of flexible regasification services from FSRUs to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Helsinki, Ho Chi Minh City, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit https://www.excelerateenergy.com.

ABOUT VENTURE GLOBAL LNG

Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global's first facility, Calcasieu Pass, commenced producing LNG in January 2022. The company is also constructing or developing an additional 60 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world. The company is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities. For more information, visit https://www.venturegloballng.com.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding Excelerate’s business strategy and plans, including the diversification of its LNG supply portfolio, and objectives of management for future operations are forward-looking statements. All forward-looking statements are based on assumptions or judgments about future events and economic conditions that may or may not be correct or necessarily take place and that are by their nature subject to significant risks, uncertainties and contingencies, including the risk factors that Excelerate identifies in its Securities and Exchange Commission filings, many of which are outside the control of Excelerate. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Excelerate undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

Investors
Craig Hicks
Excelerate Energy
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Media
Stephen Pettibone / Frances Jeter
FGS Global
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Shaylyn Hynes
Venture Global LNG
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HOUSTON--(BUSINESS WIRE)--ADS Services, LLC (“ADS”) and Sayatva™ LLC have entered into a Global Agreement where Sayatva™ and ADS’ leading pressure control brand, Power Chokes™, will work together to supply equipment and systems to the pressure control market globally.

Power Chokes™, a division of ADS, provides patented and cost-effective pressure control solutions for the oil & gas drilling, completion and production markets.

Sayatva™ provides turnkey solutions for the global oil and gas drilling and production markets with its superior High Pressure High Temperature (HPHT) valve technology.

Charlie Orbell, CEO of ADS, stated “The Sayatva™ team’s significant history in the design and manufacture of gate valves over the past 15 years enables two leading pressure control technology companies to come together to offer a unique solution to the industry. This new commercial partnership, where we will have forging and certified in-country manufacturing facilities across the US, Middle East and Southeast Asia, provides Power Chokes™ clients with greater support for their current installed base. This partnership also means that Power Chokes™ can offer a much broader scope of product offerings at highly competitive prices and market-leading quality. Our combined offering will allow us to offer complete choke & kill manifold solutions, managed pressure drilling (“MPD”) manifold solutions, standpipe manifolds and a multitude of well test and production offerings."

"Our shared objective in this agreement is to provide clients with a high quality and comprehensive pressure control offering, for all global markets, by combining our ability to innovate and utilizing the end-to-end manufacturing capabilities available at strategic locations worldwide. We are very excited to partner with Charlie Orbell and the ADS Power Chokes™ team," commented Gaya Ragavan, CTO of Sayatva.™

About ADS Services:

ADS Services, LLC provides industry-leading technology, products and services for critical pressure control in the oil & gas industry. For over 30 years, Power Chokes™, a division of ADS, has been providing the industry with patented choke systems, pressure relief valves, and drilling-related controls and automation solutions. SHIELD Pressure Control™, another division of ADS, serves the onshore US and Middle Eastern markets with highly efficient and patented managed pressure drilling (“MPD”) systems. Based in Houston (TX) and Midland (TX), the ADS management team is comprised of several industry-leading experts in drilling automation and MPD technology.

About SAYATVA™:

Sayatva™ is a leading provider of High-Pressure High Temperature (HPHT) equipment including, but not limited to, valves, choke and kill manifolds, and other well control equipment. The global experience and track record of the Sayatva™ management and technical team, coupled with the extensive manufacturing capabilities, provide the industry with the access to latest technology and solutions.

Sara Davila
832-380-5798
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ALLEN, Texas--(BUSINESS WIRE)--CapturePoint LLC (together with its affiliates, “CapturePoint”) announced today that the company has made a final investment decision to proceed with carbon capture and storage infrastructure investments in the Central Louisiana Regional Carbon Storage Hub (“CENLA Hub”). CapturePoint’s geologic storage sites in the CENLA Hub have the potential to be among the largest onshore deep underground carbon sequestration centers in the United States, with the capacity to permanently secure tens of millions of tons of CO₂ annually up to two miles underground.

The first phase of the CENLA Hub project will involve the capture of dedicated CO₂ emissions from natural gas processing facilities owned by affiliates of Energy Transfer (NYSE:ET) in North and Central Louisiana, as well as from other industrial sources in the area, for transport by pipeline to deep underground sequestration in the CENLA Hub. CapturePoint’s future plans include expansions to capture, transport and store emissions at the CENLA Hub from other sources in the industrial corridors of Southern Louisiana.

CapturePoint filed for an EPA Class VI permit in June 2022 to advance the first CO₂ sequestration wells in the CENLA Hub. The company expects to file a permit application for a second storage site in the CENLA Hub in the first quarter of 2023. The premier geology in the region could ultimately allow each of CapturePoint’s CENLA Hub storage sites to permanently sequester several hundred million tons of CO₂ beneath multiple thick containment layers of rock.

“This is a significant step in the development of the CENLA Hub,” said Tracy Evans, CEO of CapturePoint. “CapturePoint’s final investment decision spotlights our expectations that the CENLA Hub will become one of the most important carbon storage projects in the nation.” Mr. Evans explained that Energy Transfer has worked jointly with CapturePoint to co-develop the project to date and expects Energy Transfer to make a final investment decision regarding the scope of its commercial and operational participation the CENLA Hub later this year. In addition, CapturePoint has now executed deals with private landowners for pore space leases totaling over 14,000 acres associated with the second CENLA Hub storage site. “Our decision to proceed with investments in the CENLA Hub is the culmination of a tremendous effort from the entire CapturePoint team and it solidifies the company’s leadership role in US deep underground carbon storage. CapturePoint has the capital, resources and expertise to deliver on the first phase of this deep underground carbon sequestration project to safely, securely and permanently store large volumes of CO₂ that would otherwise be released into Louisiana’s air,” he said.

The decision to invest in the CENLA Hub Project is just one example of CapturePoint projects coming to fruition in the first quarter of 2023, following substantial investment in the second half of 2022 by Mercuria Energy Trading, SA (“Mercuria”). Mercuria, a global energy and commodity group based in Geneva, Switzerland, is one of the world’s leading energy and energy technology investors.

About CapturePoint LLC

CapturePoint LLC is a privately held company based in Allen, Texas focused on cutting-edge energy development and carbon sequestration services.

Forward Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. In addition to the risks and uncertainties previously stated, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The firm undertakes no obligation to update or revise any forward-looking statement to reflect new information or events, nor to update the status of federal or state permits or approvals or other external factors that may affect potential future operations.

Investor Relations and Media Contact:
Tracy Evans, CEO
832-300-8225
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Company achieves milestone revenue targets while broadening its commitment to sustainable, greener business operations

VANCOUVER, British Columbia--(BUSINESS WIRE)--Delta-Q Technologies, a ZAPI GROUP company and leading innovator and supplier of battery charging solutions for electric drive vehicles and industrial equipment, announces major business and revenue milestones, after a record year of substantial growth in its target markets.

In 2022, Delta-Q eclipsed previous revenue years by achieving US $100 million in sales. This achievement was a significant milestone for the company, and validation of the many strategic initiatives implemented throughout the business over the past several years.

“I am tremendously proud of the global Delta-Q team for a record-breaking year. We have successfully scaled the business while continuing to navigate market challenges, out-innovate competitors, and provide customers and partners with the charging solutions they need,” said Steve Blaine, Co-CEO and EVP at Delta-Q Technologies.

The company also reached a new milestone with the shipment of its four-millionth battery charger in April 2022, equating to approximately four million metric tons of abated carbon emissions saved since the company’s founding in 1999.

“At the heart of our mission is a steadfast commitment to model excellence in sustainability within our industry,” said Sarah MacKinnon, Co-CEO and CFO at Delta-Q Technologies. “From our product designs to our company culture, sustainability is a value that is embraced throughout Delta-Q and the ZAPI GROUP of companies. We take great pride in providing charging solutions that power our customers’ industrial electric vehicles on a global scale, making a positive impact on our planet. As we progress into 2023, we will continue to focus on sustainability as we collaborate with our customers and partners to jointly achieve our collective operational and electrification goals.”

To drive the operational shift toward sustainable business practices seen throughout tech manufacturing, Delta-Q recently implemented a dedicated team focused entirely on sustainability. The mandate of the sustainability team includes furthering social responsibility, reducing company carbon emissions, both locally and globally through the innovation of products and programs that enable industries to transition to electrification. Delta-Q is aligning with the United Nations Development Program (UNDP) Sustainable goals to reduce greenhouse gas emissions.

About Delta-Q Technologies

Delta-Q Technologies is charging the future and driving the world’s transition to electric energy. We collaboratively design, test, and manufacture robust battery chargers that improve the performance of our customer’s electric drive vehicles and industrial machines. As the supplier of choice for Tier 1 OEMs, our customer support and engineering expertise guide our customers through the electrification process for a sustainable world.

Delta-Q is part of the ZAPI GROUP of companies and headquartered in Vancouver, Canada. The team and distribution span five continents to service industries such as electric golf cars, lift trucks, aerial work platforms, e-mobility, floor care machines, utility/recreational vehicles, and new markets, like outdoor power equipment. Please visit our newly launched corporate site, offering improved user experiences and access to resources at www.delta-q.com, or follow company updates on Twitter and LinkedIn for more information.

Akanksha Kapil, Delta-Q Technologies
Content Marketing Manager
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Carley Gray, Communiqué PR
Phone: (206) 282-4923 ext. 114
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MADISON, Wis.--(BUSINESS WIRE)--Alliant Energy Corporation (NASDAQ: LNT) announced the pricing of its offering of $500 million aggregate principal amount of its 3.875% convertible senior notes due 2026 in a private placement under the Securities Act of 1933, as amended (the “Securities Act”). Alliant Energy also granted each of the initial purchasers of the convertible notes an option to purchase, within a 13-day period from, and including, the date on which the convertible notes are first issued, up to an additional $75 million aggregate principal amount of the convertible notes. The sale of the convertible notes is expected to close on March 2, 2023, subject to customary closing conditions.

Alliant Energy expects that the net proceeds from the convertible notes will be approximately $490.9 million (or $564.6 million if the initial purchasers exercise their option to purchase additional convertible notes in full), after deducting the initial purchasers’ discounts and commissions and offering expenses payable by Alliant Energy. Alliant Energy intends to use the net proceeds from the offering of the convertible notes for general corporate purposes, which may include repayment or refinancing of debt, working capital, construction and acquisition expenditures, investments and repurchases and redemptions of securities.

The convertible notes will be senior unsecured obligations of Alliant Energy, and will mature on March 15, 2026, unless earlier converted or repurchased in accordance with their terms. The convertible notes will bear interest at a fixed rate of 3.875% per year, payable semiannually in arrears on March 15 and September 15 of each year, beginning on September 15, 2023.

Prior to the close of business on the business day immediately preceding December 15, 2025, the convertible notes will be convertible at the option of the holders only under certain conditions.

On or after December 15, 2025, until the close of business on the business day immediately preceding the maturity date, holders of the convertible notes may convert all or any portion of their convertible notes at their option at any time at the conversion rate then in effect, irrespective of these conditions. Alliant Energy will settle conversions of the convertible notes by paying cash up to the aggregate principal amount of the convertible notes to be converted and paying or delivering, as the case may be, cash, shares of its common stock, $0.01 par value per share, or a combination of cash and shares of its common stock, at its election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the convertible notes being converted.

The conversion rate for the convertible notes will initially be 15.5461 shares of common stock per $1,000 principal amount of convertible notes (equivalent to an initial conversion price of approximately $64.32 per share of common stock). The initial conversion price of the convertible notes represents a premium of approximately 25% over the last reported sale price of Alliant Energy’s common stock on the Nasdaq Global Select Market on February 27, 2023. The conversion rate and the corresponding conversion price will be subject to adjustment in some events but will not be adjusted for any accrued and unpaid interest. Alliant Energy may not redeem the convertible notes prior to the maturity date.

If Alliant Energy undergoes a fundamental change (as defined in the indenture that will govern the convertible notes), subject to certain conditions, holders of the convertible notes may require Alliant Energy to repurchase for cash all or any portion of their convertible notes at a repurchase price equal to 100% of the principal amount of the convertible notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date (as defined in the indenture that will govern the convertible notes). In addition, if certain fundamental changes occur, Alliant Energy may be required, in certain circumstances, to increase the conversion rate for any convertible notes converted in connection with such fundamental changes by a specified number of shares of its common stock.

The offering is being made to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. Any offers of the convertible notes will be made only by means of a private offering memorandum. None of the convertible notes or any shares of the common stock issuable upon conversion of the convertible notes have been or are expected to be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

Statements contained in this press release that are not of historical fact are forward-looking statements intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified as such because the statements include words such as “may,” anticipate,” “will,” “would,” “expected,” or other words of similar import. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Some, but not all, of the risks and uncertainties that could materially affect actual results include, among others:

• the satisfaction of customary closing conditions relating to the convertible notes offering;
• capital market risks; and
• the impact of general economic or industry conditions.

There can be no assurance that the convertible notes offering will be completed on the anticipated terms, or at all. For more information about potential factors that could affect Alliant Energy’s businesses and financial results, please review “Risk Factors” in Alliant Energy’s Annual Report on Form 10-K for the fiscal year ended 2022 filed with the Securities and Exchange Commission (the “SEC”) and in Alliant Energy’s other filings with the SEC. These factors should be considered when evaluating the forward-looking statements, and undue reliance should not be placed on such statements. The forward-looking statements included herein are made as of the date hereof and, except as required by law, Alliant Energy undertakes no obligation to publicly update such statements to reflect subsequent events or circumstances.

Media Hotline: (608) 458-4040
Investor Relations: Susan Gille (608) 458-3956

NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR” or the “Company”), a developer of clean, next-generation battery cell production capacity, today filed its 2022 Annual Report on Form 10-K for the year ended December 31, 2022 (the "2022 Form 10-K") with the U.S. Securities and Exchange Commission (“SEC”), which can be downloaded from the SEC's website (http://www.sec.gov). Our 2022 Form 10-K is also available on our corporate website (https://ir.freyrbattery.com/Financials/sec-filings/default.aspx). Hard copies of our complete 2022 Form 10-K, which includes our audited financial statements, can be ordered, free of charge, by contacting the Company.

About FREYR Battery

FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in the U.S. and Vaasa, Finland. FREYR intends to deliver a minimum of 50 GWh of battery cell capacity by 2025, over 100 GWh of annual capacity by 2028, and over 200 GWh of annual capacity by 2030. To learn more about FREYR, please visit www.freyrbattery.com.

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

Media contact:
Katrin Berntsen
Vice President, Communication
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Tel: (+47) 920 54 570

Meet with GRC to see how liquid immersion cooling is positioned to be the primary technology enabling sustainable data center and edge designs

LONDON--(BUSINESS WIRE)--GRC (Green Revolution Cooling), the leader in immersion cooling for data centers, announced today that it will be exhibiting its liquid immersion solutions at Data Centre World in London, taking place March 8-9 at ExCel London.

Throughout the show, attendees will have the opportunity to visit booth D710 to see the latest immersion cooling offerings from GRC. In addition, representatives from Castrol will be on hand to discuss their DC15 fluid, which is designed to improve the thermal management and performance of immersion cooling systems.

“GRC is delighted to once again participate in Data Centre World,” said Gregg Primm, VP of Global Marketing at GRC. “With over a decade delivering innovative liquid immersion cooling solutions in 22 countries, we look forward to sharing numerous case studies on how we have helped data center operators reduce energy consumption and increase compute density.”

Liquid immersion cooling has long been seen as a niche or special purpose solution, for high-density or high-performance computer servers. Yet, with rising server energy consumption, power costs, Environmental, Social & Governance (ESG) policies, and regulatory scrutiny, immersion cooling is positioned to be the primary technology enabling sustainability for all data centers today and into the future.

At the end of last year, GRC launched its ElectroSafe Fluid Partner Program. The program evaluates and validates dielectric fluids designed for use in GRC’s immersion cooling systems, ensuring globally available, environmentally responsible solutions that meet material compatibility, performance, and safety. In addition to enhancing data center performance, all fluids included in the program will contribute to achieving GRC’s customers’ ESG goals. To date, GRC has announced numerous partners joining the program.

About GRC

GRC is The Immersion Cooling Authority^®. The company's patented immersion cooling technology radically simplifies deployment of data center cooling infrastructure. By eliminating the need for chillers, CRACs, air handlers, humidity controls, and other conventional cooling components, enterprises reduce their data center design, build, energy, and maintenance costs. GRC’s solutions are deployed in twenty-two countries and are ideal for next-gen applications platforms, including artificial intelligence, blockchain, HPC, 5G, and other edge computing and core applications. Their systems are environmentally resilient, sustainable, and space saving, making it possible to deploy them in virtually any location with minimal lead time.

Please visit grcooling.com for more information.

Milldam Public Relations
Adam Waitkunas
978-828-8304 (mobile)
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DALLAS & LUXEMBOURG--(BUSINESS WIRE)--Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, and Clariter, a global cleantech pioneer, announced today that the companies have entered into a strategic collaboration agreement to advance production of Clariter’s high-quality, green petrochemicals made from plastic waste.

Clariter’s proprietary chemical upcycling technology complements other traditional recycling methods. Its unique process transforms the majority of plastic waste streams into new crude oil-free products for industrial and everyday consumer use. Clariter’s sustainably produced oils, waxes and solvents meet the highest industry standards of purity, are food-contact grade and meet or exceed the benchmarks of its fossil-based equivalents.

As part of this long-term collaboration agreement, Flowserve will contribute its flow-control expertise, optimum equipment sizing, and commissioning support for the scale-up of Clariter’s commercial production plants.

Through this partnership, Flowserve will be the single-source supplier of all pumps, valves, seals, and RedRaven products for Clariter’s first four commercial-scale chemical recycling facilities. Additionally, Clariter will continue to source parts and aftermarket services from Flowserve once construction of the plants has been completed. The companies are also committed to developing new, sustainable formulations for the lubrication of pumps and valves, to be made from recycled plastic waste.

“The circular economy presents meaningful growth opportunities for Flowserve and seamlessly ties to our strategy of Diversification, Decarbonization, and Digitization,” said Scott Rowe, Flowserve president and chief executive officer. “We are excited about this agreement and are proud that our comprehensive offerings will support Clariter on its journey to establish commercial-scale plants. Through our mutual decarbonization efforts, we are thrilled to work together to eliminate substantial amounts of plastic waste on a global scale – making the world better, together.”

“Clariter is pleased to welcome Flowserve as a strategic partner,” said Ran Sharon, Clariter president and chief executive officer. “Partnering with Flowserve provides a significant boost to the design and engineering of our future plants, and the bringing to commercial scale of our innovative technology to transform plastic waste into green products that replace fossil-based petrochemicals. I look forward to our cooperation as we pursue our common sustainability goals, and bring an end to plastic waste.”

To read more about how Flowserve is driving decarbonization and how its products and services are helping customers reach similar goals, visit: https://www.flowserve.com/en/energy-transition/decarbonization/

To learn more about Clariter’s unique technology and process, visit: https://clariter.com/solution/

About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.

About Clariter: Clariter is a global cleantech company that has developed a chemical recycling process that provides a solution to the plastic waste epidemic. This proprietary, efficient technology transforms plastic waste into high-quality, high-value products: oils, waxes, and solvents that replace fossil-based products. Clariter offers a commercially attractive combination of profitability and sustainability.

Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.

Flowserve Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (214) 697-8568

Clariter Contact:
Barbara Ciesielska, Public Relations, This email address is being protected from spambots. You need JavaScript enabled to view it.

• Novata expands unique funding consortium of non-profit and for-profit leaders, welcoming new investors including Microsoft.
• Novata announces over 3,500 private companies are contracted to use its platform, enabling a wide range of highly accurate benchmarking capabilities.

NEW YORK--(BUSINESS WIRE)--Novata, an innovative technology platform and public benefit corporation that provides the private markets with a cutting-edge Environmental, Social and Corporate Governance (ESG) solution, has announced a Series B funding round with $30 million raised. This significant capital raise enables Novata to continue to meet the private markets' critical need for a simple and secure data management and analytics platform to enable investors to align their capital flows with the metrics that matters to them.

Hamilton Lane (NASDAQ: HLNE) led the funding round, with participation from existing investors – the Ford Foundation, S&P Global (NYSE: SPGI) and Novata’s founders. The company is also announcing that Microsoft (NASDAQ: MSFT) has joined the investor consortium through its Climate Innovation Fund. In addition, partners and managing directors from a range of private equity firms participated in the Series B, including Canson Capital Partners, Clearlake Capital, Hellman & Friedman, Kohlberg & Company, Lindsay Goldberg and The Vistria Group.

“We are grateful to the broad range of leading investors supporting Novata, including financial institutions, large technology companies, non-profit organizations and private equity firms, which underscores how major facets of global economic activity are coming together to address our most critical common challenges,” said Alex Friedman, CEO & Co-Founder at Novata. "As sustainability priorities have undisputedly changed over the last decade, Novata is ideally positioned to meet the evolving challenges and to help drive progress on ESG transparency and reliability in the private markets.”

Since its successful commercial launch in April 2022, Novata has experienced significant global demand and today has more than 3,500 private companies contracted to use the platform. Novata launched its unique benchmarking capabilities in November 2022, enabling clients to compare key non-financial data against public and private market industry averages and identify opportunities for improvement. Novata’s broad-reaching analytical tools are a market differentiator, offering an unprecedented view of ESG performance in private markets by providing clients with access to anonymized and reliable data from thousands of companies in its contributory database.

“We consider Novata to be the critical infrastructure needed to accelerate sustainability and strong governance in the private markets,” said Erik Hirsch, Vice Chairman and Head of Strategic Initiatives at Hamilton Lane. “As our industry continues to grow, we all face increasing expectations from investors, regulators, and the broader society to ensure that strong investment performance is delivered alongside responsible business practices. Novata is exactly the kind of neutral intermediary the private markets ecosystem needs to collect the metrics that matter and put them in context.”

Novata’s simple, customized and partner-agnostic offering represents a major step forward in the current landscape of sustainability tools and metrics. The Novata solution takes a much-needed systems-wide approach in the private markets, bringing together the non-profit and for-profit sectors to help drive impact toward sustainable and inclusive capitalism.

“Better collection and use of enterprise data will create new opportunities for every organization to achieve progress in addressing the world’s toughest environmental and social problems,” said Brandon Middaugh, Senior Director, Climate Innovation Fund at Microsoft. “Software technologies like Novata offer the capability to record and track sustainability metrics, informing corporate actions to build a more sustainable and inclusive future.”

​Novata’s ESG Advisory Council, comprised of a broad range of global industry experts, provides direction on methodology and advises on the best path forward for ESG data in the private markets. Novata’s General Partner Advisory Committee, made up of leading private equity and credit firms, serves to both inform its approach to product development and enable participating firms to share best practices.

To learn more about Novata’s platform offerings and to schedule a demo, visit the website and follow Novata on LinkedIn to keep up with the company’s latest news and views.

About Novata

Novata is a public benefit corporation that enables the private markets to achieve a more sustainable and inclusive form of capitalism. Novata’s technology platform makes navigating the ESG landscape simple for private markets by identifying a clear starting point for selecting the metrics that matter, streamlining data collection, and contextualizing data to drive reporting and action. Novata, which is backed by the Ford Foundation, Hamilton Lane, Microsoft, Omidyar Network, and S&P Global, is majority controlled by mission-driven organizations and its employees. For more information, please visit https://www.novata.com/.

Katie Stueber
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AUSTIN, Texas--(BUSINESS WIRE)--#CleanAir--State energy offices across the U.S. are facing the same challenge—how to make sure new climate investments have the largest impact possible. The Colorado Energy Office (CEO) recently selected CLEAResult, an experienced energy efficiency and decarbonization solutions provider, as the trusted implementing partner to help prioritize the office's $25 million Clean Air Program (CAP) Grants.

CAP Grant projects will be focused on reducing air pollutant emissions from industrial and manufacturing sites throughout Colorado, and applications are expected to open in Spring 2023. CLEAResult's decarbonization team is coming on board to perform on-site Scope 1 Emissions Assessments and evaluate the technical validity and potential reduction impact of an applicant's proposed project. The team will then share the data and insights collected at each site to help inform the Colorado Energy Office's award decisions.

"The industrial sector is a major source of greenhouse gas emissions in Colorado," said CEO Strategic Initiatives & Financing Program Manager Wil Mannes. "We are looking forward to working with CLEAResult to ensure that technical assessments and Clean Air Program grant funding maximize emissions reductions from this sector and move us closer to the clean energy future we envision for the state."

"Reducing direct, or scope 1, emissions at the source is the end goal we're all working toward," said Keri Macklin, CLEAResult's Vice President of Decarbonization. "We want people to see that progress is taking place and trust that the grant money is being well spent."

The climate industry often breaks GHG emissions into 3 different scopes. Scope 1 refers to direct emissions that are generated on-site at a company's facility, including company vehicles. Scope 2 and 3 refer to indirect emissions such as purchased electricity or distribution supply chains. CLEAResult has 20 years of experience reducing carbon emissions through its energy efficiency work with utilities, businesses and communities across the U.S. and Canada. The company also measures and reports on its own carbon footprint in an effort to reach their goal of becoming Net Zero by 2025.

"Projects like this will be great models for our industry to learn from as states get more and more funding for climate initiatives," said CLEAResult's CEO Rich McBee. "It's so important that we get this right to show Colorado, and the country, that we can make a meaningful impact for our planet."

As states prepare for money to begin to flow from the Inflation Reduction Act, all eyes are on climate leaders like the state of Colorado and early implementers like CLEAResult to find successful strategies the industry can rely on.

For updates on CAP Grant applications, visit the Colorado Energy Office's website. More information on CLEAResult can be found at www.clearesult.com.

About CLEAResult

CLEAResult is the largest provider of energy efficiency, energy transition, and decarbonization solutions in North America. Since 2003, our mission has been to change the way people use energy. Today, our experts lead the transition to a sustainable, equitable, and carbon-neutral future for our communities and our planet. Our hometown teams collaborate with a diverse network of local partners to deliver world-class technology and personalized services that make it easy for commercial and industrial businesses, governments, utilities and residential customers to reduce their energy use and carbon footprint. CLEAResult is headquartered in Austin, Texas, and has over 2,400 employees in more than 60 cities across the U.S. and Canada. CLEAResult is majority owned by TPG through its middle market and growth equity investment platform TPG Growth and its multi-sector global impact investing strategy The Rise Fund.

Explore all our energy solutions at clearesult.com.

Follow us on: Facebook | LinkedIn | Twitter | Instagram

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Amber Tester
Director Corporate Communications

Capital supports the growth of Net-metered Industrial Solar in Texas’ ERCOT market

WASHINGTON & AUSTIN, Texas & DURHAM, N.C.--(BUSINESS WIRE)--#ENERGYTRANSITION--EIG, a leading institutional investor in the global energy and infrastructure sectors, and diversified clean energy company Modern Energy announced today a $90 million investment in Industrial Sun, a Modern Energy company and developer of large-scale solar projects for power sale to industrial clients in Texas’ ERCOT energy market. This investment aligns with EIG's strategy of supporting projects and companies that drive the transition from fossil fuels to more sustainable energy sources on a global scale.

"We are excited to partner with Industrial Sun and join forces with their talented team," said Andrew Ellenbogen, Managing Director at EIG. "We have been impressed by their strong track record, innovative business model, and the opportunity they have created to generate significant value for their customers. This investment allows us to deepen our relationship with Modern Energy and participate in the scaling of a promising clean energy platform."

EIG and Modern Energy announced a partnership in July 2020, in which EIG committed $100 million to Modern Energy through a debt facility to fund the development of clean energy assets. Modern Energy also previously committed $30 million to launch Industrial Sun in November 2021.

“Our utility-scale solar projects help our ERCOT customers save millions of dollars at the facility level without any capital expense required," said Wade Gungoll, CEO at Industrial Sun. "Our solution delivers the lowest net cost of power available in the United States, making it a true win-win-win opportunity for everyone involved. In fact, our offering is so compelling that any high-demand energy user should consider locating its facilities in ERCOT over any other location."

"We are selective with our partners, and bringing EIG into the mix will only accelerate our growth and help us capitalize on our mission to bring net-metered industrial solar to market," Gungoll added.

With the investment, Modern Energy will continue to manage and provide a range of services to support Industrial Sun’s growth. "This transaction reflects Modern Energy’s approach to partnering with great leaders of early-stage clean energy businesses. We deliver development capital, business-building capabilities, and expertise that accelerate growth. Industrial Sun was a brand new company 15 months ago and now it is capitalized to execute on gigawatts of pipeline opportunities that will further the energy transition,” said Chris Hamilton, Chief Investment Officer at Modern Energy.

About EIG

EIG is a leading institutional investor in the global energy and infrastructure sectors with $22.7 billion under management as of December 31, 2022. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 40-year history, EIG has committed $44.6 billion in 396 projects or companies in 42 countries on six continents. EIG is headquartered in Washington, D.C., with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG’s website at www.eigpartners.com.

About Modern Energy

Modern Energy® is a diversified clean energy company that invests in, builds, and operates energy transition businesses to drive progress toward a net-zero carbon economy. Our portfolio includes platforms that deliver distributed energy solutions to customers in the United States and Brazil. Using our unique Capital + Capabilities + Culture model, we empower early-stage energy development companies to reach their full potential. With offices in Durham, NC, Austin, TX, and Sao Paulo, Brazil, Modern Energy® is a certified B-Corp with a mission to make affordable, reliable, sustainable energy for all. To learn more, please visit our website at www.modern.energy.

About Industrial Sun

Industrial Sun is a renewable energy and storage developer, purpose-built to serve industrial and high energy demand customers, including refineries, pumping and compression stations, manufacturing and/or processing plants, terminals, and data centers. Our development team works with project landowners and surrounding communities to responsibly develop power projects that support the success of local communities for generations to come. Industrial Sun’s senior team possesses a wealth of collective renewable energy experience and expertise in project development, power sale, and financing. For more information, visit www.industrialsun.com.

EIG
FGS Global
Kelly Kimberly / Brandon Messina
+1 212-687-8080
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Modern Energy
Lauren Scolnic
+1 919-590-0327
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AUSTIN, Texas--(BUSINESS WIRE)--Atlas Energy Solutions Inc. (NYSE: AESI) (“Atlas”) announced today that it has launched an initial public offering of 18,000,000 shares of its Class A common stock (“Common Stock”) at an anticipated initial offering price between $20.00 and $23.00 per share pursuant to a registration statement on Form S-1 previously filed with the Securities and Exchange Commission (the “SEC”). In addition, Atlas intends to grant the underwriters a 30-day option to purchase up to an additional 2,700,000 shares of its Common Stock. The shares have been authorized for listing on the New York Stock Exchange under the ticker symbol “AESI,” subject to official notice of issuance.

Goldman Sachs & Co. LLC, BofA Securities and Piper Sandler are acting as lead book-running managers for the offering. RBC Capital Markets, Barclays, and Citigroup are also acting as passive book-running managers. Raymond James, Johnson Rice & Company L.L.C., Stephens Inc., Capital One Securities, Pickering Energy Partners and Drexel Hamilton are acting as co-managers for the offering.

The offering of these securities will be made only by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933, as amended. A copy of the preliminary prospectus may be obtained from any of the following sources:

Goldman Sachs & Co. LLC
Attn: Prospectus Department
200 West Street
New York, NY 10282
Telephone: 1-866-471-2526
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BofA Securities NC1-004-03-43
Attn: Prospectus Department
200 North College Street, 3^rd Floor
Charlotte, NC 28255-0001
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Piper Sandler & Co.
Attn: Prospectus Department
800 Nicollet Mall, J12S03
Minneapolis, MN 55402
Telephone: 800-747-3924
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About Atlas Energy Solutions Inc.

Atlas acts as a leading provider of proppant and logistics services to customers engaged in the oil and natural gas industry within the Permian Basin of West Texas and New Mexico, the most active basin in North America. Atlas’ core mission and key focus is to maximize value for its stockholders by generating strong cash flow and allocating capital resources efficiently, including providing a regular and durable return of capital to investors through industry cycles. In pursuit of this mission, Atlas deploys innovative techniques and technologies to develop their high-quality resource base and efficient delivery of their products to customers through leading-edge solutions.

Important Information

A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement may be obtained free of charge at the SEC’s website at www.sec.gov under “Atlas Energy Solutions Inc.” This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the anticipated size, timing or results of the initial public offering, represent Atlas’ expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Atlas’ control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Atlas does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Atlas to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus on Form S-1 filed with the SEC in connection with Atlas’ initial public offering. The risk factors and other factors noted in Atlas’ prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.

Atlas Energy Solutions Inc.
John Turner
President and Chief Financial Officer
(512) 220-1200

KANSAS CITY, Mo.--(BUSINESS WIRE)--$CORR--CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) ("CorEnergy" or the "Company") announced today that it will report results for its fourth quarter and full year ended December 31, 2022, on March 7, 2023.

CorEnergy will host a conference call on Tuesday, March 7, 2023, at 10:00 a.m. Central Time to discuss its financial results. The call may also include discussion of Company developments and forward-looking and other material information about business and financial matters. To join the call, dial +1-973-528-0011 and provide access code 423263 at least five minutes prior to the scheduled start time. The call will also be webcast in a listen-only format. A link to the webcast will be accessible at corenergy.reit.

A replay of the call will be available until 10:00 a.m. Central Time on April 6, 2022, by dialing +1-919-882-2331. The Conference ID is 47572. A webcast replay of the conference call will also be available on the Company’s website, corenergy.reit.

About CorEnergy Infrastructure Trust, Inc.

CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) is a real estate investment trust that owns and operates or leases regulated natural gas transmission and distribution lines and crude oil gathering, storage and transmission pipelines and associated rights-of-way. For more information, please visit corenergy.reit.

Forward-Looking Statements

With the exception of historical information, certain statements contained in this press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although CorEnergy believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those factors discussed in CorEnergy’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, CorEnergy does not assume a duty to update any forward-looking statement. In particular, any dividends paid in the future to our stockholders will depend on the actual performance of CorEnergy, its costs of leverage and other operating expenses and will be subject to the approval of CorEnergy’s Board of Directors and compliance with leverage covenants and other applicable requirements.

Source: CorEnergy Infrastructure Trust, Inc.

CorEnergy Infrastructure Trust, Inc.
Investor Relations
Debbie Hagen or Matt Kreps
877-699-CORR (2677)
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Solar panels, battery energy storage extend century-old ties between global critical infrastructure leader, renowned university

OVERLAND PARK, Kan.--(BUSINESS WIRE)--More than a century since two University of Kansas (KU) engineering graduates launched Black & Veatch, that global critical infrastructure solutions leader has donated renewable energy infrastructure that now powers the university’s new welcome center on its main Lawrence campus.

As an asset meant to enhance KU’s recruitment competitiveness in attracting tomorrow’s engineers and other students, the Jayhawk Welcome Center unveiled last Saturday has a powerhouse behind the scenes: rooftop solar panels and complementary battery storage, courtesy of Black & Veatch.

The 30,000-square-foot center — privately funded and attached to the newly renovated Adams Alumni Center – will enhance engagement for all Jayhawks, including current student leaders and the global alumni network, which has grown by 40 percent since 1983.

Black & Veatch’s participation in the welcome center is the latest KU connection in a long history that began when late Jayhawks Ernest Bateman Black and Nathan Thomas Veatch founded the company, now a global leader in innovative, resilient and sustainable infrastructure solutions.

“Our deep history with the University of Kansas dates to the 1915 origin of our company and its growth from just 12 professionals to more than 10,000 today. This Jayhawk Welcome Center extends those ties in a very modern way through sustainable energy,” said Mario Azar, Black & Veatch’s Chairman and CEO. “We’ve taken what we do best in sustainability and invested it in the promise of tomorrow’s leaders who will walk through those doors, pursue their careers and innovate.”

The sustainable energy provided by the welcome center’s solar panels will not only lower the university’s carbon footprint but also power digital exhibits, including a board detailing how the renewable power is generated and how much is being stored — for example, the annual solar power made possible by Black & Veatch is enough to power the field lights at David Booth Kansas Memorial Stadium for 50 football games.

According to the university, recent enrollment trends confirm that the campus visit is pivotal in attracting prospective students; in 2019 and 2020, students who visited the university enrolled at twice the rate of those who did not tour the campus.

“The Jayhawk Welcome Center is a showcase for our broader views on sustainability that factor in not only the environment but promote economic prosperity for all, ensuring that all members of society are treated with equality and respect,” said Douglas A. Girod, the university’s chancellor. “The center, with the support of Black & Veatch and many partners and contributors, will be a real game-changer for our university and our mission.”

Features of the Jayhawk Welcome Center and renovated Adams Alumni Center highlight the university’s research, discoveries, innovations and economic impact, in addition to stories of accomplished alumni.

It also features expansive views of campus — including the football stadium and World War II Memorial Campanile — along with a 360-degree virtual exhibit capturing experiences in classrooms, laboratories and Allen Fieldhouse. A two-story LED screen will offer personalized greetings for visitors and customized videos, photo slideshows, animations and social media feeds.

Editor’s Notes:

• Black & Veatch designed, procured and installed a complete 57.95kW PV/30 kWh battery energy storage system (BESS).
• For more information about the Jayhawk Welcome Center, visit jayhawkwelcomecenter.org.
• To read more about Black & Veatch’s renewable energy solutions, click here.

About Black & Veatch

Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2022 were US$4.3 billion. Follow us on www.bv.com and on social media.

About the University of Kansas

The University of Kansas is a major comprehensive research and teaching university. The university's mission is to lift students and society by educating leaders, building healthy communities and making discoveries that change the world. The KU News Service is the central public relations office for the Lawrence campus.

About the KU Alumni Association

Through the support of members and donors, the KU Alumni Association advocates for the University of Kansas, communicates with Jayhawks in all media, recruits students and volunteers, serves the KU community and unites Jayhawks. For more information, visit kualumni.org.

JIM SUHR | +1 913-458-6995 P | +1 314-422-6927 M | This email address is being protected from spambots. You need JavaScript enabled to view it.
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New automated Ammunition Handling System combined with Mk 45 gun to give UK Royal Navy critical advantage at sea

LOUISVILLE, Ky.--(BUSINESS WIRE)--BAE Systems, Inc. has received a $219 million (GBP181 million) contract to equip the Royal Navy’s Type 26 frigates with five Mk 45 Maritime Indirect Fire Systems (MIFS). The system combines the 5-inch, 62-caliber Mk 45 Mod 4A naval gun system with a fully automated Ammunition Handling System (AHS).

“We have innovated and customized the Mk 45 system to provide a critical and reliable fully-automatic ammunition handling solution that revolutionizes medium and large caliber naval gunnery,” said Brent Butcher, vice president of the weapon systems product line at BAE Systems, Inc. “The customized, lightweight and compact Mk 45 gun system with AHS provides our customers commonality with the U.S. Navy, a highly-reliable system with security of lifecycle support, and access to future technology upgrades. We look forward to continuing to build these critical partnerships and delivering the MIFS system to our U.K. customer.”

The Type 26 frigates, the first of which is due to be delivered to the Royal Navy in the mid-2020s, will be one of the world’s most advanced classes of warships, with the primary purpose of anti-submarine warfare. In addition to its range of advanced weapons and sensors, it will also be capable of countering piracy, delivering humanitarian aid and disaster relief. As part of the ships’ world-class capabilities, this innovative, automated naval gun solution will help the Royal Navy increase crew productivity, reduce sailor safety hazards, and improve the operational capability of these advanced warships as they deliver protection to the Royal Navy’s Continuous At Sea Deterrent and Carrier Strike Group.

Engineering and program support for the new contract will be performed at BAE Systems’ Minneapolis and Louisville, Kentucky production facilities. BAE Systems shipped the main equipment for the first MIFS system at the end of 2022 with installation to follow in 2023.

Michelle Tiemeyer, BAE Systems
Mobile: +1 (717) 645-6553
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www.baesystems.com/US
@BAESystemsInc

KILGORE, Texas--(BUSINESS WIRE)--Martin Midstream Partners L.P. (NASDAQ: MMLP) (the “Partnership”) announced today that the Partnership’s 2022 tax package, which includes Schedule K-1, will be available to download after 5:00 p.m. Central Time today from the Investor Relations section of the Partnership’s website and may also be accessed by visiting https://www.taxpackagesupport.com/martinmidstream. In an effort to be environmentally friendly, the Partnership encourages its unitholders to sign up for electronic delivery of their MMLP tax package.

The Partnership will begin mailing the 2022 tax package to its unitholders on Monday, March 6, 2023. For additional information, unitholders may contact the K-1 Tax Package Support Line toll free at (888) 334-7473. In addition, you can send a request by mail to: Martin Midstream Partners L.P., Attn: Tax Package Support, P.O. Box 139031, Dallas, Texas 75313.

About Martin Midstream Partners

MMLP, headquartered in Kilgore, Texas, is a publicly traded limited partnership with a diverse set of operations focused primarily in the Gulf Coast region of the United States. MMLP’s primary business lines include: (1) terminalling, processing, and storage services for petroleum products and by-products, including the refining of naphthenic crude oil; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) specialty products, including the marketing, distribution, and transportation services for natural gas liquids and the blending and packaging services for finished lubricants and grease. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn, Facebook, and Twitter.

MMLP-C

Sharon Taylor
Chief Financial Officer
(877) 256-6644
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The solar farm developed by AVANGRID delivers 150 Megawatts of clean electricity to Puget Sound Energy (PSE).

ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, has announced today that it has achieved commercial operation at its 150-Megawatt (MW) Lund Hill solar farm in Klickitat County, Washington, the state’s largest photovoltaic plant. The facility will supply Puget Sound Energy’s Green Direct program, which allows large commercial and governmental participants the ability to purchase 100 percent of their energy from dedicated, local renewable energy resources.

“It’s exciting to see utility-scale renewable energy generation come online, and with our efforts this upcoming session, this should be the first of many clean energy projects that bring good-paying jobs and affordable, zero-emission energy to Washingtonians,” said Governor Jay Inslee.

“Lund Hill represents a major milestone for us at AVANGRID and is proof of our commitment with accelerating the energy transition in the U.S.,” said Pedro Azagra, AVANGRID’s CEO. “We are pleased to work with Puget Sound Energy to help it meet its ambitious goals to reduce emissions and provide clean, reliable power to its customers.”

“We’re excited to see AVANGRID’s Lund Hill project go into full operation as we start to receive clean energy from the largest solar project in Washington state,” said Mary Kipp, PSE president and CEO. “This project will help our Green Direct customers meet their clean energy goals as we work together to create a cleaner energy future for all.”

AVANGRID’s facility will supply the solar for PSE’s second round offering of their Green Direct program, for which more than 40 customers have already signed up, among them six Washington state government agencies, including the Departments of Health, Ecology, and Transportation (WSDOT), among others. The initiative allows participants the ability to purchase 100 percent of their energy from dedicated, local, renewable energy resources.

Lund Hill is located on approximately 1,800 acres, a mix of land leased from private landowners and the Washington Department of Natural Resources, the state’s first solar power land lease.

By adding more renewables to PSE’s portfolio, Green Direct also furthers PSE’s deep decarbonization goals and move toward 100 percent clean energy by 2045, as called for in Washington’s Clean Energy Transformation Act.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $41 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: networks and renewables. Through its networks business, AVANGRID owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, AVANGRID owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,500 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, AVANGRID ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. AVANGRID is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.

About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.

With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.

About Puget Sound Energy: Puget Sound Energy is proud to serve our neighbors and communities in 10 Washington counties. We’re the state’s largest utility, supporting approximately 1.2 million electric customers and 900,000 natural gas customers. We aspire to be a beyond net zero carbon energy company by 2045.

For more about us and what we do, visit pse.com. Also follow us on Facebook and Twitter.

MEDIA CONTACT:
Mariel Huerta
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Andrew Padula
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) today announced that it has filed the partnership’s Annual Report on Form 10-K for the year ended December 31, 2022 with the Securities and Exchange Commission. The report is available on the Enterprise website at www.enterpriseproducts.com. Hard copies of the report may be requested free of charge at https://ir.enterpriseproducts.com/notifications-requests. The 2022 Annual Investor Letter is also available on the Enterprise website under the Investors tab.

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

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