Self-mined 157 Bitcoin in January 2023, a >25% increase over December 2022

Deployed fleet of 18,000 miners exceeding hash rate capacity of 2.0 EH/s as of January 31, 2023

Energization of the Nautilus Cryptomine facility remains on track for Q1 2023

Continued focus on expanding to 5.5 EH/s of operating capacity with 50,000 self-miners

Average power cost per Bitcoin of $9,470 in January 2023 reinforcing industry-leading power costs

EASTON, Md.--(BUSINESS WIRE)--$WULF #Bitcoin--TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, domestic bitcoin mining facilities powered by more than 91% zero-carbon energy, today provided an unaudited monthly production and operations update for January 2023.

January 2023 Highlights

• Self-mined 157 Bitcoin in January 2023, an increase of more than 25% from December 2022.
• Deployed fleet of 18,000 miners that consistently achieved hash rate capacity of +2.0 EH/s with self-owned miners delivering nearly 100% operational uptime.
• Power cost decreased in January 2023 to approximately $0.052/kWh, compared to approximately $0.060/kWh in December 2022 following the return to more normalized weather.
• The Company continues to target a blended average cost of power of approximately $0.035/kWh, comprised of approximately $0.045/kWh at the Lake Mariner facility and a fixed, five-year contracted rate of $0.02/kWh at the Nautilus Cryptomine facility.

“TeraWulf made remarkable operational advancements in January as we continued to make significant progress towards expanding capacity at Lake Mariner with the addition of Building 2, and energization of the Nautilus Cryptomine facility, which will be the first behind the meter bitcoin mining facility utilizing low cost, zero-carbon nuclear power at scale in the U.S.,” stated Paul Prager, Co-founder and Chief Executive Officer of TeraWulf.

“In 2023, our plan is to aggressively expand and efficiently operate our deployed hash rate as we receive and install the remaining miner shipments and ramp our two Bitcoin mining facilities with the goal of reaching 5.5 EH/s of sustainable, low-cost operating capacity in early Q2 2023,” added Paul Prager.

Production and Operations Update

As of January 31, 2023, the Company operated approximately 18,000 Bitcoin miners with hash rate capacity of approximately 2.0 EH/s at its Lake Mariner facility. Of these miners, approximately 11,500 are wholly owned with a hash rate capacity of approximately 1.4 EH/s. The remaining approximately 6,500 miners are hosted, for which the Company receives a hosting fee and share of the mining profit.

During the month of January, the Company received approximately 6,100 miners from Bitmain Technologies Limited (“Bitmain”) and is scheduled to receive an additional 15,900 miners in Q1 2023, which will result in a total of approximately 34,000 miners at its Lake Mariner facility and 16,000 miners at its Nautilus facility. Delivery of the remaining miners will conclude TeraWulf’s existing miner purchase agreements with Bitmain and is expected to fully utilize the Company’s 160 MW of infrastructure capacity available in early Q2 2023.

TeraWulf’s power cost in January 2023 corrected to more normalized levels following severe weather and price volatility in late December 2022. Increasingly supportive market fundamentals, forward power curves, and near-term energization of the Nautilus Cryptomine facility (with a fixed power cost of $0.02/kWh) reinforce the Company’s targeted average power cost of approximately $0.035/kWh in 2023.

“These severe weather events highlight why location is so critical and we built where there’s plenty of zero-carbon, baseload energy to maintain our advantage over the long run. That’s what you are seeing when our power costs drop so quickly after major weather events,” said Kerri Langlais, Chief Strategy Officer of TeraWulf. The Company also finalized its enrollment in two additional ancillary service programs with the New York Independent System Operator (NYISO). “We continue to focus on innovative ways for our business to help make the grid more resilient,” Langlais added.

Infrastructure and Miner Energization Update

As previously reported, the Company is in the final stages of construction at its two Bitcoin mining sites and expects to have a total operational capacity of 50,000 miners (5.5 EH/s) in early Q2 2023, representing approximately 160 MW of power demand. Today, the Company’s wholly-owned Lake Mariner facility has approximately 60 MW of operational mining capacity, and TeraWulf expects to reach 110 MW of capacity at the facility in early Q2 2023. The Nautilus Cryptomine facility, a joint venture with Talen Energy Corporation, is in the initial stages of ramping its mining operations and is expected to provide 50 MW of net mining capacity to TeraWulf in Q2 2023, representing the Company’s 25% interest in the joint venture.

Expansion at Existing Sites

TeraWulf is currently evaluating options for utilizing approximately 130 MW of available expansion capacity at its existing sites for further hash rate growth. The Lake Mariner facility has 80 MW of near-term expansion capability with the addition of Building 3 and utilization of existing warehouse space, for which the Company has already commenced development activities. TeraWulf also retains an option to expand its net capacity at the Nautilus facility by an additional 50 MW.

About TeraWulf

TeraWulf (Nasdaq: WULF) owns and operates vertically integrated, environmentally clean Bitcoin mining facilities in the United States. Led by an experienced group of energy entrepreneurs, the Company is currently operating and/or completing construction of two mining facilities: Lake Mariner in New York, and Nautilus Cryptomine in Pennsylvania. TeraWulf generates domestically produced Bitcoin powered by nuclear, hydro, and solar energy with a goal of utilizing 100% zero-carbon energy. With a core focus on ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (8) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (9) employment workforce factors, including the loss of key employees; (10) litigation relating to TeraWulf, RM 101 f/k/a IKONICS Corporation and/or the business combination; (11) the ability to recognize the anticipated objectives and benefits of the business combination; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.

Company Contact:
Sandy Harrison
This email address is being protected from spambots. You need JavaScript enabled to view it.
(410) 770-9500

The Digi IX10 Cellular Router Supports CBRS or Anterix Bands for Smart Grid Applications that Bring Scalability, Reliability, and Agility to Power Infrastructure

SAN DIEGO--(BUSINESS WIRE)--Expanding its portfolio of solutions to support private cellular networks, Digi International (NASDAQ: DGII), a leading global provider of Internet of Things (IoT) solutions, connectivity products, and services, today launched new versions of its widely adopted Digi IX10 cellular router at DistribuTECH 2023. The new solution enables electric utilities to deploy private cellular networks that leverage the CBRS Band 48 shared spectrum or Anterix Band 8 900 MHz licensed spectrum.

Building upon its expansive portfolio of Private Cellular Network (PCN) enabled devices, Digi IX10 is a full-featured cellular router combining trouble-free reliability with long service life. Flexible power and connectivity options make it a versatile and cost-effective choice for electric utilities, smart-grid equipment manufacturers, and other stakeholders that need to secure critical infrastructure data transmission over private cellular networks — including variants for Anterix 900 MHz licensed spectrum and CBRS 3.5 GHz spectrum.

“In the utilities market, private broadband is rapidly emerging as a must-have for grid modernization efforts,” said Carlos L'Abbate, CTO from Anterix. “As the nation’s largest holder of licensed spectrum in the 900 MHz band, our Anterix Active Ecosystem welcomes Digi’s latest addition to its portfolio of PCN-enabled routers. Together, Digi and Anterix are uniquely positioned to help utilities achieve secure, resilient and customer-controlled operations.”

The new Digi solution is ideal for a range of use cases in the industrial and utilities sectors, including transmission and distribution automation, connecting grid assets, metering, power quality monitoring, and remote instrumentation, as well as EV charging, solar farms, and other utilities applications that require greater intelligence, visibility, and edge computing.

“When it comes to modernizing our grid infrastructure, connectivity remains among the most important requirements,” said Kinana Hussain, Vice President of Product Management, from Digi International. “The latest model of the Digi IX10 expands our PCN device portfolio and, coupled with Digi Remote Manager, reaffirms our commitment to providing the smart and affordable connectivity needed by stakeholders in the electric utilities industry.”

Digi’s PCN solutions feature Digi Remote Manager^® (Digi RM), the command center enabling the orchestration, management, and visibility of PCN devices. Digi RM enables low/no-touch provisioning, mass configuration, maintenance, and support, even for thousands of devices. With Digi RM, utilities can evaluate, update, and configure Digi devices while gaining visibility into network health. Digi also offers an on-premise remote management option for deployments requiring full control, and customization of their networking infrastructure.

“Digi International has been a prominent member of the OnGo Alliance for many years,” said Alan Ewing, Executive Director of the OnGo Alliance. “The launch of the Digi IX10 for CBRS marks another milestone in the continued adoption of 4G LTE and 5G solutions using shared spectrum. This addition to the company’s broad portfolio of PCN solutions will offer utilities – and other companies as well – more deployment options as they strive to improve the resiliency of the nation’s grid infrastructure.”

IX10 Features & Benefits:

• Design – Compact, economical and rugged, Digi IX10’s small footprint provides versatility in placement, and its specs ensure it can withstand broad temperature ranges, making it ideal for public or private cellular networks in harsh environments.
  
  
• Flexibility – Wirelessly connects IP-based devices while protecting investments in legacy serial devices. Flexible power input and low-power consumption allows it to use existing DC power in control cabinets, as well as solar for remote installations.
  
  
• Reliability – Redundant connectivity with dual SIMs and Digi SureLink^® for failover from private to public networks, or dual-public networks.
  
  
• Security - Built-in Digi TrustFence^® for device security, device identity and data privacy.

For pricing information, contact Digi International.

About Digi International

Digi International (NASDAQ: DGII) is a leading global provider of IoT connectivity products, services, and solutions. It helps companies create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security and reliability. Founded in 1985, Digi has helped customers connect more than 100 million things and counting. For more information, visit www.digi.com.

Peter Ramsay
Global Results Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
949.307.5908

DALLAS--(BUSINESS WIRE)--Atmos Energy Corporation (NYSE: ATO) said today that its Board of Directors declared a quarterly dividend on the company’s common stock of 74.0 cents per share. The indicated annual dividend is $2.96.

The dividend will be paid on March 6, 2023, to shareholders of record on February 20, 2023. This is the company’s 157th consecutive quarterly dividend.

Atmos Energy Corporation, an S&P 500 company headquartered in Dallas, is the country’s largest natural gas-only distributor. We safely deliver reliable, affordable, efficient and abundant natural gas to more than 3 million distribution customers in over 1,400 communities across eight states located primarily in the South. As part of our vision to be the safest provider of natural gas services, we are modernizing our business and infrastructure while continuing to invest in safety, innovation, environmental sustainability and our communities. Atmos Energy manages proprietary pipeline and storage assets, including one of the largest intrastate natural gas pipeline systems in Texas. Find us online at http://www.atmosenergy.com, Facebook, Twitter, Instagram and YouTube.

Analyst and Media Contact:
Dan Meziere
(972) 855-3729

NEW YORK--(BUSINESS WIRE)--Giga Carbon Neutrality Inc. (“GCN”) today announced a USD500 Million capital commitment from GEM Global Yield LLC SCS ("GEM"), the Luxembourg based private alternative investment group, in the form of a Share Subscription Facility (“SSF”). Under the agreement, GEM will provide GCN with a Share Subscription Facility of up to USD 500 Million of GCN’s common stock.

Martin Wade, Chairman of GCN, commented: “The world is embracing rapid industrial transformation brought about by new energy systems and their integration into various industry sectors. GCN has strong and comprehensive technical expertise in commercial vehicles and equipment. With its intelligent V2X (vehicle-connected-to-everything) technology and its smart IoT (internet of things) systems, GCN is a pioneer committed to becoming a total solution provider including vehicle equipment manufacturing, comprehensive technologies, operation platforms, energy data and carbon credit services. The SSF provided by GEM demonstrates investors’ confidence in GCN’s prospects and the company’s ability to build out its leading status as a provider of intelligent new energy commercial solutions. The SSF will allow us to finance cutting-edge technology capabilities and substantial expansion of service platform and sales.”

About GCN

GCN, together with its affiliates, provides solutions of new energy commercial vehicle equipment and comprehensive services to clients globally. GCN acts as a service and product integrator in the global intelligent commercial transportation and equipment market to efficiently realize customers’ carbon neutrality goals. GCN and its partners offer vehicle equipment manufacturing, comprehensive technologies, operation platforms, energy data and carbon credit services. For more information, please visit the website: https://gigacarbonneutrality.com/

About GEM

Global Emerging Markets (“GEM”) is a Luxembourg based private alternative investment group with offices in Paris, New York and The Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 525 transactions in 72 countries. Each investment vehicle has a different degree of operational controls, risk-adjusted returns, and liquidity profiles. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments.

For more information: http://www.gemny.com

GCN
Name: Mr. Timothy Poor
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

DALLAS--(BUSINESS WIRE)--Atmos Energy Corporation (NYSE: ATO) today reported consolidated results for its first fiscal quarter ended December 31, 2022.

Highlights

• Earnings per diluted share was $1.91 for the three months ended December 31, 2022.
• Consolidated net income was $271.9 million for the three months ended December 31, 2022.
• Capital expenditures totaled $795.7 million for the three months ended December 31, 2022, with approximately 88 percent of capital spending related to system safety and reliability investments.

Outlook

• Earnings per diluted share for fiscal 2023 is expected to be in the range of $5.90 to $6.10.
• Capital expenditures are expected to approximate $2.7 billion in fiscal 2023.
• The company's Board of Directors has declared a quarterly dividend of $0.74 per common share. The indicated annual dividend for fiscal 2023 is $2.96, which represents an 8.8% increase over fiscal 2022.

“Our first quarter results, reflect the dedication, focus and effort of all 4,800 Atmos Energy employees as we continued modernizing our natural gas distribution, transmission, and storage systems on our journey to be the safest provider of natural gas services," said Kevin Akers, President and CEO of Atmos Energy. "We remain well positioned to achieve our fiscal 2023 earnings per share guidance," Akers concluded.

Results for the Three Months Ended December 31, 2022

Consolidated operating income increased $45.3 million to $321.2 million for the three months ended December 31, 2022, compared to $275.9 million in the prior year, primarily due to rate outcomes in both segments and customer growth in our distribution segment, partially offset by increased operation and maintenance and higher depreciation and property tax expenses due to increased capital investments.

Distribution operating income increased $41.3 million to $231.8 million for the three months ended December 31, 2022, compared with $190.5 million in the prior-year quarter, primarily due to a $57.5 million increase in rates, a $5.7 million decrease in refunds of excess deferred taxes to customers and customer growth of $2.4 million, partially offset by a $13.2 million increase in operation and maintenance expense driven primarily by pipeline system maintenance and increased administrative costs and a $16.0 million increase in depreciation and property tax expenses.

Pipeline and storage operating income increased $4.0 million to $89.4 million for the three months ended December 31, 2022, compared with $85.4 million in the prior year. Key operating drivers for this segment include a $21.0 million increase from our GRIP filing approved in fiscal 2022, partially offset by a $12.6 million increase in operation and maintenance expense driven primarily by system maintenance spending and a $4.4 million increase in depreciation and property tax expenses.

Capital expenditures increased $111.5 million to $795.7 million for the three months ended December 31, 2022, compared with $684.2 million in the prior year, due to increased system modernization and expansion spending.

For the three months ended December 31, 2022, the company generated operating cash flow of $188.9 million, compared to $61.8 million in the prior-year quarter. The year-over-year increase primarily reflects working capital changes, including the timing of payments for natural gas purchases and deferred gas cost recoveries and the positive effects of successful rate case outcomes achieved in the prior year.

Our equity capitalization ratio at December 31, 2022 decreased to 52.9%, from 53.6% at September 30, 2022, due to $220.0 million in equity issuances under our forward equity agreements, partially offset by the issuance of $500 million of 5.75% senior notes and $300 million of 5.45% senior notes in October 2022. Excluding the $2.2 billion of incremental financing issued to pay for the purchased gas costs incurred during Winter Storm Uri, our equity capitalization ratio was 60.0% and 61.3% at December 31, 2022 and September 30, 2022.

Conference Call to be Webcast February 8, 2023

Atmos Energy will host a conference call with financial analysts to discuss the fiscal 2023 first quarter financial results on Wednesday, February 8, 2023, at 9:00 a.m. Eastern Time. The domestic telephone number is 877-407-3088 and the international telephone number is 201-389-0927. Kevin Akers, President and Chief Executive Officer, and Chris Forsythe, Senior Vice President and Chief Financial Officer, will participate in the conference call. The conference call will be webcast live on the Atmos Energy website at www.atmosenergy.com. A playback of the call will be available on the website later that day.

Forward-Looking Statements

The matters discussed in this news release may contain “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. All statements other than statements of historical fact included in this news release are forward-looking statements made in good faith by the company and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. When used in this news release or any of the company’s other documents or oral presentations, the words “anticipate”, “believe”, “estimate”, “expect”, “forecast”, “goal”, “intend”, “objective”, “plan”, “projection”, “seek”, “strategy” or similar words are intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those discussed in this presentation, including the risks relating to regulatory trends and decisions, the company’s ability to continue to access the credit and capital markets, and the other factors discussed in the company’s reports filed with the Securities and Exchange Commission. These risks and uncertainties include the following: federal, state and local regulatory and political trends and decisions, including the impact of rate proceedings before various state regulatory commissions; increased federal regulatory oversight and potential penalties; possible increased federal, state and local regulation of the safety of our operations; possible significant costs and liabilities resulting from pipeline integrity and other similar programs and related repairs; the inherent hazards and risks involved in distributing, transporting and storing natural gas; the availability and accessibility of contracted gas supplies, interstate pipeline and/or storage services; increased competition from energy suppliers and alternative forms of energy; failure to attract and retain a qualified workforce; natural disasters, terrorist activities or other events and other risks and uncertainties discussed herein, all of which are difficult to predict and many of which are beyond our control; increased dependence on technology that may hinder the Company's business if such technologies fail; the threat of cyber-attacks or acts of cyber-terrorism that could disrupt our business operations and information technology systems or result in the loss or exposure of confidential or sensitive customer, employee or Company information; the impact of new cybersecurity compliance requirements; adverse weather conditions; the impact of greenhouse gas emissions or other legislation or regulations intended to address climate change; the impact of climate change; the capital-intensive nature of our business; our ability to continue to access the credit and capital markets to execute our business strategy; market risks beyond our control affecting our risk management activities, including commodity price volatility, counterparty performance or creditworthiness and interest rate risk; the concentration of our operations in Texas; the impact of adverse economic conditions on our customers; changes in the availability and price of natural gas; and increased costs of providing health care benefits, along with pension and postretirement health care benefits and increased funding requirements.

Accordingly, while we believe these forward-looking statements to be reasonable, there can be no assurance that they will approximate actual experience or that the expectations derived from them will be realized. Further, the company undertakes no obligation to update or revise any of our forward-looking statements whether as a result of new information, future events or otherwise.

About Atmos Energy

Atmos Energy Corporation, an S&P 500 company headquartered in Dallas, is the country’s largest natural gas-only distributor. We safely deliver reliable, affordable, efficient and abundant natural gas to more than 3 million distribution customers in over 1,400 communities across eight states located primarily in the South. As part of our vision to be the safest provider of natural gas services, we are modernizing our business and infrastructure while continuing to invest in safety, innovation, environmental sustainability and our communities. Atmos Energy manages proprietary pipeline and storage assets, including one of the largest intrastate natural gas pipeline systems in Texas. Find us online at http://www.atmosenergy.com, Facebook, Twitter, Instagram and YouTube.

This news release should be read in conjunction with the attached unaudited financial information.

Analysts and Media Contact:
Dan Meziere (972) 855-3729

Over 572 million lightning pulses detected across the country

GERMANTOWN, Md.--(BUSINESS WIRE)--AEM, the essential source for environmental insights, today announced the release of its 2022 U.S. Lightning Report. Throughout 2022, the company’s Earth Networks Total Lightning Network® detected more than 86 million total lightning flashes, which were comprised of over 572 million total lightning pulses.

Unsurprisingly, the lightning capital of the United States, Florida, led all other states with the greatest density of lightning flashes. Its 103 lightning flashes per square mile translated to more than 5.5 million total lightning flashes across the state, and those flashes were made up of more than 62 million lightning pulses.

Although Florida had the most lightning activity per square mile, it was Hawaii that had the most thunder hours, or hours with lightning activity in its vicinity (more than 23,000).

“Hawaii’s high number of thunder hours might seem surprising, since Hawaii has one of the lowest lightning densities of any state,” said Dr. Elizabeth DiGangi, a lightning scientist at AEM. “However, Hawaii’s tropical ocean climate results in frequent thunderstorms on and around the island chain, which in aggregate produce much less lightning than those we typically see across the continental United States. This is why thunder hours are an important supplemental metric for understanding thunderstorm frequency – a piece of the story not well-captured by measurements of only lightning volume and lightning density.”

At the county level, six Florida counties made the top-10 list of counties with the densest lightning activity. However, the county with the densest lightning activity was Poquoson City, Va., with an average of 300 lightning flashes per square mile. Providing context for the observation, Dr. DiGangi noted, “Poquoson City is situated near the mouth of the Chesapeake Bay, a region that the National Park Service reports has experienced greater precipitation extremes and a 10% increase in annual precipitation.”

Other noteworthy insights from the report:

• California, another state with a comparatively low amount of lighting activity per square mile, ranked among the top 10 states for most thunder hours (likely driven by the state’s monsoon season, which can bring frequent storms with minimal lightning activity to the mountains).
• The monsoon season was also a key factor in an exceptional lightning storm that sparked fires across California – and in creating the conditions that helped prevent those fires from causing much more destruction.
• We explain why Hurricane Ian’s dramatic spike in lightning activity before making landfall in Florida was accompanied by a sudden increase in wind speeds.
• We examine why the lighting activity that visited northwestern New York in mid-November came with record-setting snowfall.

Dr. DiGangi will present findings from the 2022 U.S. Lightning Report, along with her expert commentary, during a free webinar on Feb. 15. To register and get details about the event, visit the AEM website.

The lightning activity detailed in the report was detected by AEM’s proprietary Earth Networks Total Lightning Network (ENTLN), which monitors both in-cloud and cloud-to-ground lightning activity in more than 100 countries. With more than 1,800 sensors and scientifically advanced detection algorithms, the ENTLN is the most extensive lightning detection network in the world. In fact, since algorithm changes in 2021, the ENTLN detects 50% more lightning worldwide than ever before. Plus, in regions with higher sensor density, the network’s lightning detection efficiency climbs above 95%.

About AEM

AEM is combining global technology leaders like Earth Networks to empower communities and organizations to survive and thrive in the face of escalating environmental risks. By deploying intelligent sensing networks, operating a secure and scalable data management infrastructure, and delivering high-value analytics through a suite of end-user applications, AEM serves as the essential source for environmental insights. These technologies enable positive outcomes, helping reduce environmental impact and creating a safer world. For more information, visit https://aem.eco.

John Lauer
Director of Demand Generation
This email address is being protected from spambots. You need JavaScript enabled to view it.

• On-Track to Complete Previously Announced Separation on April 3, 2023
• Crane Company and Crane NXT to Host Investor Conferences on March 9, 2023

STAMFORD, Conn.--(BUSINESS WIRE)--Crane Holdings, Co. (“Crane” or the “Company,” NYSE: CR), a diversified manufacturer of highly engineered industrial products, announced that the U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form 10 filed by Crane Company. The Form 10 relates to the Company’s previously announced plan to separate into two independent and simplified businesses to optimize investment and capital allocation, accelerate growth, and unlock shareholder value. We intend to complete the separation and distribution on April 3, 2023.

Max Mitchell, Crane’s President and Chief Executive Officer of Crane stated: “The effectiveness of the Form 10 is another key milestone toward the separation transaction, and further confirmation that we are on-track to complete the transaction on our original target date in early April. We continue to believe that the separation will deliver long-term value for our stakeholders by creating two focused businesses, each with differentiated technology, industry leading positions, strong balance sheets and significant opportunities for growth and value creation.”

Upcoming Investor Conference for Crane Company and Crane NXT

Crane Company and Crane NXT will each host an investor conference on March 9, 2023 in New York City. At both events, key executives will provide a detailed review of each company’s business, strategy, capital structure, and capital deployment policies, as well as an update on their 2023 business outlook. To RSVP or to request additional information, please email: This email address is being protected from spambots. You need JavaScript enabled to view it..

Details of Previously Announced Separation

On March 30, 2022, Crane announced that its Board of Directors had unanimously approved a plan to pursue a separation into two independent, publicly-traded companies to optimize investment and capital allocation, accelerate growth, and unlock shareholder value.

Upon completion, Crane shareholders will have ownership in two focused and simplified businesses that are both leaders in their respective industries and well-positioned for continued success:

• Crane NXT will be a premier Industrial Technology business with substantial global scale, a best-in-class margin profile, and strong free cash flow generation. This year, the Payment and Merchandising Technologies (“PMT”) business that will become Crane NXT is expected to achieve approximately $1.4 billion in sales with a pre-corporate Adjusted EBITDA margin of approximately 30%.
  
  In addition to its market-leading brands, Crane NXT will differentiate itself through its technology leadership, positioning it to leverage long-term secular drivers including automation, security, and productivity across several high-growth adjacent markets.
  
  After the separation, Crane NXT will be positioned to drive earnings growth through continued investment in the business and value-enhancing acquisitions. Its balance sheet and free cash flow will also allow it to support significant acquisitions and a dividend in-line with peers. Crane NXT's shares are expected to continue to be listed on the NYSE under the ticker symbol “CXT”. As previously announced, Crane NXT will be led by Aaron Saak, with the executives currently leading Crane’s PMT business continuing to serve in senior positions.
  

• Crane Company will be a leading global provider of mission-critical, highly engineered products and solutions, with differentiated technology, respected brands, and leadership positions in its markets. After the separation, Crane Company will include the Aerospace & Electronics and Process Flow Technologies global strategic growth platforms, as well as the Engineered Materials segment.
  
  This year, these businesses are expected to generate approximately $2 billion in annual sales with a pre-corporate Adjusted EBITDA margin of approximately 19.5%. The company will be well-positioned to accelerate organic growth in its large and attractive end markets, benefit from favorable secular trends, and apply its proven processes to drive new product development and commercial excellence. Crane Company is expected to have a strong, well-capitalized balance sheet underpinning a capital deployment strategy focused on supporting the company’s organic and inorganic strategic growth objectives, while providing a dividend in-line with peers.
  
  Crane Company will be led by Max Mitchell, who will continue to serve as President and Chief Executive Officer, with Rich Maue continuing to serve as Chief Financial Officer. Crane Company’s shares have been approved for listing on the NYSE and are expected to trade under Crane’s current ticker symbol, “CR”.

Transaction Details

The separation is expected to occur through a tax-free distribution of the Aerospace & Electronics, Process Flow Technologies, and Engineered Materials businesses to the Company’s shareholders. Crane Holdings, Co. will retain the Payment & Merchandising Technologies businesses and will be renamed Crane NXT, Co. concurrent with the separation. The Aerospace & Electronics, Process Flow Technologies, and Engineered Materials businesses will be owned by the newly created public company, named Crane Company. Upon completion of the separation, shareholders as of the record date will own 100% of the equity in both of the publicly traded companies.

About Crane Holdings, Co.

Crane Holdings, Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane provides products and solutions to customers across end markets including aerospace, defense, chemical and petrochemical, water and wastewater, payment automation, and banknote security and production, as well as for a wide range of general industrial and consumer applications. The Company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies, and Engineered Materials. Crane has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia. Crane is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.

Forward-Looking Statements Disclaimer

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief, or expectations, including, but not limited to: statements regarding Crane’s and the ultimate spin-off company’s (“SpinCo”) portfolio composition and their relationship following the business separation; the anticipated timing, structure, benefits, and tax treatment of the separation transaction; benefits and synergies of the separation transaction; strategic and competitive advantages of each of Crane and SpinCo; future financing plans and opportunities; and business strategies, prospects and projected operating and financial results. In addition, there is also no assurance that the separation transaction will be completed, that Crane’s Board of Directors will continue to pursue the separation transaction (even if there are no impediments to completion), that Crane will be able to separate its businesses or that the separation transaction will be the most beneficial alternative considered. We caution investors not to place undue reliance on any such forward-looking statements.

Words such as “anticipate(s),” “expect(s),” “intend(s),” “believe(s),” “plan(s),” “may,” “will,” “would,” “could,” “should,” “seek(s),” and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained.

Risks and uncertainties that could cause actual results to differ materially from our expectations include, but are not limited to: changes in global economic conditions (including inflationary pressures) and geopolitical risks, including macroeconomic fluctuations that may harm our business, results of operation and stock price; the continuing effects from the coronavirus pandemic on our business and the global and U.S. economies generally; information systems and technology networks failures and breaches in data security, theft of personally identifiable and other information, non-compliance with our contractual or other legal obligations regarding such information; our ability to source components and raw materials from suppliers, including disruptions and delays in our supply chain; demand for our products, which is variable and subject to factors beyond our control; governmental regulations and failure to comply with those regulations; fluctuations in the prices of our components and raw materials; loss of personnel or being able to hire and retain additional personnel needed to sustain and grow our business as planned; risks from environmental liabilities, costs, litigation and violations that could adversely affect our financial condition, results of operations, cash flows and reputation; risks associated with conducting a substantial portion of our business outside the U.S.; being unable to identify or complete acquisitions, or to successfully integrate the businesses we acquire, or complete dispositions; adverse impacts from intangible asset impairment charges; potential product liability or warranty claims; being unable to successfully develop and introduce new products, which would limit our ability to grow and maintain our competitive position and adversely affect our financial condition, results of operations and cash flow; significant competition in our markets; additional tax expenses or exposures that could affect our financial condition, results of operations and cash flows; inadequate or ineffective internal controls; specific risks relating to our reportable segments, including Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies and Engineered Materials; the ability and willingness of Crane and SpinCo to meet and/or perform their obligations under any contractual arrangements that are entered into among the parties in connection with the separation transaction and any of their obligations to indemnify, defend and hold the other party harmless from and against various claims, litigation and liabilities; and the ability to achieve some or all the benefits that we expect to achieve from the separation transaction.

Readers should carefully review Crane’s financial statements and the notes thereto, as well as the section entitled “Risk Factors” in Item 1A of Crane’s Annual Report on Form 10-K for the year ended December 31, 2021 and the other documents Crane and its subsidiaries file from time to time with the SEC. Readers should also carefully review the “Risk Factors” section of the registration statement relating to the business separation, which has been filed by SpinCo with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.

These forward-looking statements reflect management’s judgment as of this date, and Crane assumes no (and disclaims any) obligation to revise or update them to reflect future events or circumstances.

We make no representations or warranties as to the accuracy of any projections, statements or information contained in this document. It is understood and agreed that any such projections, targets, statements and information are not to be viewed as facts and are subject to significant business, financial, economic, operating, competitive and other risks, uncertainties and contingencies many of which are beyond our control, that no assurance can be given that any particular financial projections ranges, or targets will be realized, that actual results may differ from projected results and that such differences may be material. While all financial projections, estimates and targets are necessarily speculative, we believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection, estimate or target extends from the date of preparation. The assumptions and estimates underlying the projected, expected or target results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the financial projections, estimates and targets. The inclusion of financial projections, estimates and targets in this press release should not be regarded as an indication that we or our representatives, considered or consider the financial projections, estimates and targets to be a reliable prediction of future events.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, securities for sale.

Non-GAAP Financial Measures

Crane Holdings, Co. reports its financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). This press release includes certain forward-looking non-GAAP financial measures, including pre-corporate Adjusted EBITDA margin, that are not prepared in accordance with GAAP. Crane Holdings, Co. calculates “pre-corporate Adjusted EBITDA margin” as pre-corporate Adjusted EBITDA (earnings before interest, tax, depreciation and amortization expenses, before corporate overhead expense which includes director compensation, securities laws compliance costs, audit and professional fees, and other public company costs, and before Special Items which include transaction related expenses such as tax charges, professional fees and incremental corporate costs related to the proposed separation and other potential corporate transactions), divided by sales. These non-GAAP measures are an addition, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to operating income, net income or any other performance measures derived in accordance with GAAP.

We believe that pre-corporate Adjusted EBITDA margin on a forward-looking or projected basis provides useful supplemental information to investors about Crane Company and Crane NXT after the proposed separation transaction by presenting a prospective view of each post-separation company’s underlying profitability that is not influenced by: depreciation and amortization related to historical acquisition and capital investment activity, and which may not be representative of future levels of capital investment and acquisition activity post-separation; corporate costs which will be influenced by the corporate structure of each post-separation company that will be determined by management teams and Boards of Directors that have not yet been fully established; and Special Items primarily related to separation transaction costs that are not related to the underlying and ongoing operations of the post-separation company’s businesses. Our management uses certain forward looking non-GAAP measures to evaluate projected financial and operating results. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore our non-GAAP measures may not be directly comparable to similarly titled measures of other companies.

Reconciliations of the forward-looking and projected non-GAAP measures used in this press release, such as pre-corporate Adjusted EBITDA margin, to the closest corresponding GAAP measure are not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures, which could have a potentially significant impact on our future GAAP results.

Jason D. Feldman
Vice President, Investor Relations
203-363-7329
www.craneco.com

Study aims to demonstrate that clean energy tech increases resilience and lowers costs

WATERBURY, Vt.--(BUSINESS WIRE)--Nomad Transportable Power Systems’ innovative mobile storage solutions will be part of an EPRI study to determine how microgrids and clean energy technologies can benefit National Guard sites by offering energy resilience, cost savings, emissions reductions, and reliability during times of emergencies. EPRI is an independent, non-profit energy research and development institute.

“When we set out to design NOMAD, one of our first goals was to create a product that would deliver unrivaled emergency response capabilities,” said NOMAD Director Jay Bellows. “This project is an extension of that work and will bring NOMAD together with other innovative energy technologies to provide energy security and savings to National Guard sites.”

The U.S. Department of Defense’s (DOD) 2022 Environmental Security Technology Certification Program selected the EPRI project team, which also includes Blue Frontier, ClearFlame Engine Technologies, and Helia, to deploy integrated microgrid systems at three National Guard sites in Delaware, Mississippi, and Texas. The effort comes in response to high energy infrastructure costs at National Guard sites across the U.S. The DOD is seeking a solution that guarantees up to 1 MW of peak power with a 14-day resiliency goal.

The EPRI research team will explore how advances in electricity, heating and cooling, and energy management can offer solutions for the National Guard.

Haresh Kamath, director of energy storage and distributed energy at EPRI, explained that retrofitting existing air conditioning and diesel generator technology, integrating mobile energy storage, coordinating electrical and cooling demand, decentralizing controls, and modernizing operations and maintenance can bring a full suite of benefits to the sites.

“EPRI has been working to improve reliability and resilience for decades,” he said. “Through collaboration with this team, we hope to help deliver increased reliability, reduced emissions, and lowered costs for the National Guard.”

The study uses proprietary planning tools such as EPRI’s Distribution Energy Resources Value Estimate Tool (DERVET™) to find the optimal microgrid design to meet the specific needs of each National Guard site.

ClearFlame CTO and Co-founder Julie Blumreiter said the study can showcase liquid biofuels' role in providing a pathway for decarbonizing heavy-duty applications. “Our technology unlocks heavy-duty diesel engines and generators to operate using a range of renewable liquid fuels in place of diesel without compromising durability or performance — an example of how ClearFlame can serve as an affordable, complementary solution to emissions reduction and energy resilience.”

At the building level, the project will demonstrate cost-savings achievable through the stacking of operations. Jorge Elizondo, CEO and co-founder at Heila Technologies explained, “The Heila EDGE® is a decentralized and modular platform that makes it easy to connect, coordinate, and optimize solar PV arrays, batteries and other distributed energy resources (DERs). Using emergent intelligence to link and coordinate components, the Heila EDGE creates a self-organizing network that significantly minimizes the system's complexity and costs.”

At the network level, NOMAD’s mobile lithium-ion storage systems will enable National Guard sites to better meet their power needs with right sized, mobile battery storage systems that feature stationary docking systems and grid integration equipment.

“NOMAD’s battery storage solutions are plug-and-play, designed to be used with systems like those being deployed by the other members of the team,” Bellows said. “Our commitment is to deliver units assembled here in the United States to bring reliability and on-demand power to the National Guard.”

About Nomad Transportable Power Systems, Inc.

Nomad Transportable Power Systems, Inc. (“NOMAD”), is a Delaware-based company formed by KORE Power in 2020 to provide the energy industry with a standardized mobile energy storage platform. NOMAD is the first entrant into the mobile lithium-ion energy storage space and combines its patent-pending, over-the-road storage units with a standardized docking platform capable of interconnection with any distribution or transmission utility. The NOMAD system was designed from the onset to provide its customers all the benefits of fixed site energy storage, while eliminating both the capital commitments and long-term obligations that traditional energy storage requires.

David Jakubiak
This email address is being protected from spambots. You need JavaScript enabled to view it.
(708) 299-7733

Aleysha Newton
This email address is being protected from spambots. You need JavaScript enabled to view it.
(208) 758-9392

HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR"), with respect to the previously announced agreement to acquire FlexSteel Technologies Holdings, Inc. and its affiliates through a merger with its holding company, HighRidge Resources, Inc. (“FlexSteel”) and Atlas Merger Sub, LLC, a newly formed subsidiary of Cactus, Inc.

The expiration of the HSR waiting period occurred at 11:59 p.m. Eastern Standard Time on February 6, 2023, without any action taken by the Federal Trade Commission or the U.S. Department of Justice. This was a condition to the closing of the pending transaction. Completion of the transaction is subject to the satisfaction of the remaining customary closing conditions and is expected to occur during the first quarter of 2023.

About Cactus, Inc.

Cactus designs, manufactures, sells and rents a range of highly engineered wellhead and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus operates service centers throughout the United States and Australia, while also providing equipment and services in select international markets.

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 are subject to risks, uncertainties and other factors, many of which are outside of Cactus’ control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Forward-looking statements can be identified by the use of forward-looking terminology including “may,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “continue,” “potential,” “will,” “hope” or other similar words and include the Company’s expectation of future performance contained herein. These statements discuss future expectations, may contain projections of results of operations or of financial condition, or state other “forward-looking” information. You are cautioned not to place undue reliance on any forward-looking statements, which can be affected by assumptions used or by risks or uncertainties, including unanticipated challenges relating to the pending FlexSteel transaction and related financing. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risk factors and other factors noted in the Company’s Annual Report on Form 10-K, any Quarterly Reports on Form 10-Q and the other documents that the Company files with the Securities and Exchange Commission. The risk factors and other factors noted therein could cause actual results to differ materially from those contained in any forward-looking statement. Cactus disclaims any duty to update and does not intend to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this presentation.

Cactus, Inc.
John Fitzgerald, 713-904-4655
Director of Corporate Development and Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.

Veteran energy industry entrepreneurs partner to help enterprises achieve Net Zero

SAN FRANCISCO--(BUSINESS WIRE)--#carbonemissions--CFEX, Inc., provider of a cloud-based decarbonization platform to help enterprises track, plan, and reduce Scope 2 GHG emissions, announced today that it has closed its seed funding led by Accurant International, a global investment platform leading the Net Zero charge. The investment will accelerate the roll-out of the company’s products to help enterprises worldwide to achieve Net Zero.

“Energy generation is responsible for 25% of the GHG emissions, most of which are attributable to enterprises’ energy consumption and hence their Scope 2 emissions; CFEX addresses one of the most urgent and critical problems for enterprises as they strive to decarbonize their businesses – a lack of scalable operational support infrastructure for Scope 2 decarbonization,” said Bahman Hoveida, President of Accurant International. “CFEX’s team has the unique vision and proven capabilities to address the problems, and we’re confident this company is poised for rapid growth.”

Through its Carbon-Free Energy Cloud, CFEX delivers turnkey applications that enable its clients to:

• Calculate Scope 2 emissions on a 24x7 hourly basis with accuracy and auditability
• Develop mitigation strategies and simulate their carbon and cost impacts
• Operationalize Scope 2 mitigation programs including management of energy data, Energy Attribute Certificates (EACs), PPA contracts, and billing and settlement processes
• Evaluate the performance and effectiveness of Scope 2 mitigation programs.

CFEX’s team has a proven track record of delivering market-leading products to the energy industry, having previously developed large-scale meter data management, billing, and settlement technologies for leading utilities.

“As they accelerate the pace of decarbonization and respond to the regulatory ESG reporting requirements worldwide, enterprises need a scalable, utility class operation support system to track and reduce Scope 2 emissions,” said Jian Zhang, Co-Founder and CEO of CFEX, Inc. “The investment from Accurant will speed up the pace of our product roll-out to the market. We are looking forward to partnering with Accurant to help enterprises worldwide achieve Net Zero.” As part of the investment, Bahman Hoveida of Accurant International, a veteran energy industry entrepreneur and experienced executive, has joined the CFEX board.

About CFEX, Inc.

CFEX partners with enterprises and Carbon-Free Energy suppliers worldwide to decarbonize their businesses. The company’s Carbon Free Energy Cloud application suite helps these organizations track Scope 2 emissions, plan mitigation strategies and operationalize mitigation programs. CFEX is the trademark of CFEX, Inc., www.CFEX.cloud.

About Accurant International

Accurant International is a technology consulting and capital investment firm, with emphasis on investing in early and mid-stage companies in energy, power, and climate- tech, including renewable energy and grid operations. Accurant can help its client companies to meet their mission goals by advising them in various areas including business development and sales, business operations, product planning, grid modernization, renewables management, EV management, and other Net Zero energy and efficiency technologies. For more information, visit www.accurantllc.com.

CFEX Media Contact
Marek Zhang
This email address is being protected from spambots. You need JavaScript enabled to view it.

Accurant International Media Contact
Mimi Nelson
This email address is being protected from spambots. You need JavaScript enabled to view it.

• New Pathway Report from Kearney shows that urgent action is needed to prevent the car industry from massively overshooting IPCC’s 1.5-degree limit
• Electrification alone is not enough: report recommends a 3-lever approach to set industry on the right path and calls for new forms of collaboration to build rapid momentum
• Collective action to reduce greenhouse gas emissions in supply chain and increase renewable energy in the grids is needed in addition to faster EV adoption

GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar (Nasdaq: PSNY) and Rivian (Nasdaq: RIVN) have collaborated on a ‘Pathway Report' which concludes that the automotive industry is set to overshoot the IPCC’s 1.5-degree pathway by at least 75% by 2050. The two pioneering EV makers initiated the report in response to the climate crisis. The report, which uses existing, open-source data to model the current trajectory for emissions stemming from the car industry, was carried out by global management consulting firm Kearney.

Passenger vehicles currently account for 15% of all greenhouse gas (GHG) emissions globally.¹ The IPCC has stated that all GHG emissions need to be reduced by 43% by 2030, and the report makes clear that the automotive industry is far off track, and, alarmingly, will have spent its full CO₂e budget already by 2035 without urgent action.

Despite the gloomy outlook, the report suggests that the car industry still has a chance to get on track. By redirecting resources and focus, the industry can rapidly build the momentum required to remain in line with the Paris Agreement. The Pathway Report focuses on the current decade and outlines immediate, clear actions that car manufacturers can take between now and 2030, including some that can be triggered immediately.

The data presents a pathway based around three key levers. Lever 1 looks at the speed at which fossil fuel-powered cars need to be replaced by electric cars but points out that this alone will not be enough. A lot more work will be required for levers 2 and 3:

• Increasing renewable energy in power grids
• Reducing greenhouse gas emissions in the manufacturing supply chain

Pulling just one or two levers in isolation will be insufficient and only reduce the overshoot. Collective action from automakers is needed on all three levers, in parallel, at a global level. Firstly, the industry must accelerate the transition to electric vehicles by investing in manufacturing capabilities, as well as implementing a firm end date for fossil fuel car sales globally. Secondly, build out renewable energy supply to global grids that enable EV's to reach their full potential through green charging. Thirdly, decarbonize the manufacturing supply chains for these vehicles through switching to low carbon materials, and investing in renewable energy solutions for supply chains.

Fredrika Klarén, Polestar Head of Sustainability, says: “Car companies may be on different paths when it comes to brand, design, and business strategies, and some won’t even admit that the road to the future is electric. I believe it is, and that the climate crisis is a shared responsibility, and we must look beyond tailpipe emissions. This report makes clear the importance of acting now and together. There’s a clear cost to inaction, but there’s also a financial opportunity for innovators who find new answers to the challenges we face.”

Kearney’s report has also been shared with several of the world’s leading car makers, together with an invitation to a roundtable held at the end of January to discuss areas of collective action. The aim is to find a path towards unprecedented, relevant and collective climate action for the car industry.

Anisa Costa, Rivian’s Chief Sustainability Officer, adds: “The report’s findings are sobering. Our hope is that this report lays the groundwork for the automotive industry to collaborate in driving progress at the pace and scale we need – and ideally inspiring other industries to do the same. Together, I’m confident we can win the race against time.”

The Pathway Report clearly shows the cost of inaction and the strong case for sustainable development. The investment community is moving, and capital flows are shifting from traditional investment to sustainable investment, recognizing an increasing link between sustainable transformation and financial benefits. In 2021, global sustainability investments totaled USD 35.3 trillion, representing over a third of all assets in five of the world’s biggest markets.

Angela Hultberg, global sustainability director at Kearney, says: “We are proud to have been chosen as a trusted expert to develop this report. The result of our modeling clearly shows that the industry needs to accelerate the pace of becoming a low carbon industry. We looked at different scenarios, different data points, and the conclusion is that no matter how you model it, we are far too close for comfort. We sincerely hope this report will be a starting point for the industry to focus on areas where there is agreement and find specific initiatives. It will take collective action to solve some of the issues at hand, and we look forward to seeing what the manufacturers will do in the near future.”

More talks are planned over the coming months. Other car manufacturers interested in partaking can contact This email address is being protected from spambots. You need JavaScript enabled to view it..

Read the full report here.

__________________
¹ https://www.kearney.com/automotive/article/-/insights/polestar-and-rivian-pathway-report-

Rivian
Harry Porter (UK)
This email address is being protected from spambots. You need JavaScript enabled to view it.

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

ARNHEM, Netherlands--(BUSINESS WIRE)--Allego N.V. (“Allego” or the “Company”) (NYSE: ALLG), a leading pan-European public electric vehicle fast and ultrafast charging network, today announced that management would participate in a fireside chat and 1x1 investor meetings at the Citi 2023 Global Industrial Tech and Mobility Conference in Miami, FL from February 21-23, 2023.

The fireside chat will take place on Thursday, February 23, 2023 at 2:40 PM ET. It will be webcast live and can be accessed in the Events and Publications section at https://ir.allego.eu.

About Allego

Allego delivers charging solutions for all types and models of electric vehicles, facilitating consumers, businesses, and urban infrastructures. A leader in charging solutions, we nurture and have built an international public charging network comprising of just under 40,000 public charge points, operational throughout the pan-European market. Our charging solutions are connected to the proprietary platform, EV-Cloud. At Allego, we are committed to providing independent, reliable, and safe charging solutions, agnostic of vehicle model or network affiliation. Being a pioneering company, we continually strive to make EV charging easier, more convenient, and more enjoyable for all.

Allego in short: Pan-European public charging network established in 2013, listed on NYSE in 2022. covering 16 European countries, with an operable network of almost 40,000 public charge points, that use 100% clean renewable energy, enabling over 260 million green miles in 2021.

Please refer to www.allego.eu for more information.

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

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

Consortium Accelerates California’s Climate Leadership and Offers Transformative Benefits to Local Communities

LONG BEACH, Calif.--(BUSINESS WIRE)--Carbon TerraVault Holdings, LLC (CTV), a subsidiary of California Resources Corporation (NYSE: CRC), today announced it has assembled a consortium of organizations across industry, technology, academia, national labs, community, government, and labor, to pursue U.S. Department of Energy (DOE) funding under its Regional Direct Air Capture (DAC) Hubs Initiative to create the California DAC Hub, the state’s first full-scale DAC plus storage (DAC+S) network of regional DAC+S hubs. DAC+S is a solution that can remove and then permanently store atmospheric carbon dioxide (CO₂) using low carbon emission energy and provide economic benefits to surrounding communities.

California DAC Hub will help accelerate the Golden State’s climate leadership and achieve its carbon neutrality goal, and prioritize surrounding under-represented California communities through transformative benefits potentially including local air quality improvements, from helping maximize the use of renewable energy; utilization of reclaimed water and/or production of new water; quality union jobs in construction and low carbon energy technologies; and science, technology, engineering, and math (STEM) and energy transition education programs. Through California DAC Hub, the consortium will pursue funding to develop a network of DAC+S hubs across the state under the DOE’s Regional DAC Hubs Initiative, as outlined under the recent $3.5 billion Funding Opportunity Announcement (FOA), to accelerate the commercialization of atmospheric CO₂ removal via integrated capture, processing, transport, and secure geologic storage. CO₂ from DAC+S hubs will not be used for enhanced oil recovery. Key to the success of the California DAC Hub will be strong relationships with diverse community stakeholders to develop an equitable, just, and environmentally responsible approach to the project.

Non-profit energy research and development institute EPRI intends to submit an application to the DOE on or before March 13, 2023, as specified in the FOA instructions on behalf of the California DAC Hub consortium, including consortium lead CTV Direct, LLC, a wholly owned subsidiary of CTV focused exclusively on DAC+S, and community benefits plan lead Kern Community College District (Kern CCD). The first hub is targeted to launch in Kern County, California, and the consortium will look to expand to other locations across the state. Each hub will provide benefits to surrounding communities, such as high-paying and permanent jobs and training programs for reskilling workers, to help California progress toward its 2030 and 2045 carbon removal goals.

Following Governor Gavin Newsom’s call for more ambitious climate action, the California Air Resources Board (CARB) released its updated California Climate Plan to implement the most ambitious climate action of any jurisdiction in the world, including annual carbon removal/capture targets of 20 million metric tonnes (MT) of CO₂ equivalent by 2030 and 100 million MT by 2045. According to the Intergovernmental Panel on Climate Change (IPCC), carbon removal methods such as DAC+S are key to mitigation pathways aimed at keeping global warming to below 1.5 degrees Celsius. In its 2022 Scoping Plan For Achieving Carbon Neutrality, CARB quoted the IPCC saying, “The deployment of CDR [carbon dioxide removal] to counterbalance hard-to-abate residual emissions is unavoidable if net zero CO₂ or GHG [greenhouse gas] emissions are to be achieved.” California DAC Hub, combined with permanent geological storage, will be essential to executing on those ambitions and helping build a clean and equitable energy economy that benefits all California communities.

The blueprint for expanding DAC+S throughout California leverages the significant ongoing investments in the San Joaquin Valley community, including:

• The High Road Training Partnerships (HRTP) initiative, a $10 million demonstration project designed to model partnership strategies in the state to address urgent questions of income inequality, economic competitiveness, and climate change through regional skills strategy programs. Projects identified for the San Joaquin Valley include “High Road to Manufacturing in San Joaquin Valley” and “High Road to Regional Workforce Strategies: Kern County.”
• The Community Economic Resilience Fund (CERF), a program created to promote a sustainable and equitable recovery from the economic distress of COVID-19 by supporting new plans and strategies to diversify local economies and develop sustainable industries that create high-quality, broadly accessible jobs for all Californians. CERF has named the Kern Coalition one of 13 High Road Transition Collaboratives to receive funding. Kern Coalition is a partnership between Better Bakersfield and Boundless Kern (B3K Prosperity), Community Action Partnership of Kern (CAPK), Kern Inyo and Mono Central Labor Council, Building Healthy Communities, and Kern CCD.
• Two Local Energy Action Plan (LEAP) grants awarded by the DOE to support locally tailored pathways to clean energy for the County of Kern and City of Bakersfield.
• $50 million in state funds to create a California Renewable Energy Laboratory (CREL) at Kern CCD to support the energy industry in the region with four projects: 1) Carbon Dioxide Reduction Center of Excellence, 2) Clean Energy and Grid Resilience Center of Excellence, 3) Clean Transportation Center of Excellence, and 4) Workforce Innovation and Learning Center. These four centers will partner with the District’s colleges to provide formal and informal learning opportunities for the region’s community centered on energy, including living laboratories featuring new technologies used in microgrids and carbon dioxide removal. CREL also has the mission to partner with local industry to identify transitional opportunities for the region’s workforce and develop professional opportunities to upskill and reskill the incumbent workforce.
• $83 million in state funds for the California State University, Bakersfield (CSUB) Energy Innovation Center, an incubator for science, research and technology that will bring together CSUB faculty and students, in partnership with industry and community leaders. The Center will contain CSUB’s California Energy Research Center, expanded fabrication lab, faculty and staff offices, and serve as the home base to up to 30 degree programs of the Schools of Natural Science, Mathematics and Engineering and Extended Education and Global Outreach.
• A $2.5 million pledge by CRC to fund Kern County initiatives including the establishment of the CRC Carbon Management Institute with Kern CCD, a first-of-its-kind initiative that will empower local private and public partnerships to lead the way in defining how collaboration between education and industry can positively impact communities; the launch of the CRC Energy Transition Lecture Series at CSUB on relevant topics and emerging issues related to CCS and technologies that will lead the way to achieving a net zero future, and the establishment of the CRC Carbon TerraVault Scholarship to help provide CSUB students with academic opportunities.

Led by CTV Direct, Kern CCD and EPRI, the consortium includes the following organizations and may expand as appropriate based on further community engagement and future regional hub locations: Industry – Accenture, AECOM, Bloom Energy, Brookfield Renewable, Carbon TerraVault, EPRI, GeothermEx, GreenFire Energy, Pacific Gas and Electric (PG&E), Sage Geosystems, and Southern California Gas Company (SoCalGas); Technology – Avnos and Climeworks; Academia – Bakersfield College, CSUB, Taft College, and the University of California, Los Angeles (UCLA) Institute for Carbon Management; National Labs – Lawrence Livermore National Laboratory (LLNL), Livermore Lab Foundation (LLF), National Renewable Energy Laboratory (NREL), and Pacific Northwest National Laboratory (PNNL); Community – B3K Prosperity, CAPK, Greater Bakersfield Chamber of Commerce, Kern CCD, Kern County Black Chamber of Commerce, Kern County Hispanic Chamber of Commerce (KCHCC), Mexican American Opportunity Foundation (MAOF), National Impact Mentoring and Training Program (NIMTP), and the Tejon Indian Tribe; Government – City of Bakersfield, Kern Economic Development Corporation (KEDC), and the West Kern Water District (WKWD); and Labor – Employers’ Training Resource (ETR), International Brotherhood of Electrical Workers (IBEW) - Local 428; International Union of Operating Engineers - Local 12, Kern, Inyo, Mono Counties Building Trades Council, and the State Building and Construction Trades Council of California (SBCTC).

“Governor Newsom has set the most ambitious targets for California of any state in the nation – and in the world – to rapidly and permanently remove carbon from the atmosphere, and California DAC Hubs will be essential to helping achieve the Governor’s goals,” said Mac McFarland, CRC President and Chief Executive Officer. “According to the International Energy Agency (IEA), carbon removal technologies such as DAC+S are expected to be critical in the transition to a decarbonized economy. We have an unprecedented consortium of project participants who are committed to working together to create DAC+S hubs across the state, accelerate the energy transition and benefit working families throughout our California communities.”

“The ‘community’ in community colleges is a real answer for good jobs with equity and the development of the future energy workforce,” said Sonya Christian, Chancellor, Kern Community College District. “Kern CCD is well-positioned to do the important work to ensure the California DAC Hub project is grounded in authentic partnerships between community and industry and provides educational and workforce opportunities that will lead to economic mobility for the people and communities we serve.”

“Preserving affordability and reliability on the path to net-zero rests on deploying every tool in the carbon reduction toolbox,” said Neva Espinoza, Vice President, Energy Supply and Low-Carbon Resources, EPRI. “Advancing the development of direct air capture technology through collaborative innovation could bring net-zero one step closer by offsetting emissions from hard-to-decarbonize sources.”

“It is very exciting that these organizations are working together cross-functionally to not only provide a carbon removal and storage solution but doing so using low carbon energy and providing economic benefits to California communities,” said California State Treasurer Fiona Ma. “This project is more than a shared DAC infrastructure project; it serves as a hub model that delivers community benefits and jobs for other parts of the U.S. that also face climate change induced challenges.”

CTV is committed to engaging with our community-based organizations and including them throughout the development of the California DAC Hub and future associated regional hubs. Open and meaningful dialogue with our diverse stakeholders is a priority for the consortium as we expand participation of organizations and local communities.

Guggenheim Securities, LLC is acting as financial advisor for CRC in connection with the formation of CTV Direct and the development of the California DAC Hub consortium.

About Carbon TerraVault Holdings

Carbon TerraVault Holdings, LLC (CTV), a subsidiary of CRC, provides services that include the capture, transport and storage of carbon dioxide for its customers. CTV is engaged in a series of CCS projects that inject carbon dioxide (CO₂) captured from industrial sources into depleted underground reservoirs and permanently store CO₂ deep underground. CTV Direct is a wholly owned subsidiary of CTV focused on direct air capture. For more information, visit www.carbonterravault.com.

About EPRI

Founded in 1972, EPRI is the world's preeminent independent, non-profit energy research and development organization, with offices around the world. EPRI's trusted experts collaborate with more than 450 companies in 45 countries, driving innovation to ensure the public has clean, safe, reliable, affordable, and equitable access to electricity across the globe. Together, we are shaping the future of energy.

About Kern Community College District

Kern Community College District (Kern CCD) serves more than 33,000 students in communities over 24,800 square miles in parts of Kern, Tulare, Inyo, Mono and San Bernardino counties through the programs of Bakersfield College, Cerro Coso College, and Porterville College.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that we believe to be “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. All statements other than historical facts are forward-looking statements, and include statements regarding our future financial position, business strategy, projected revenues, earnings, costs, capital expenditures and plans and objectives of management for the future. Words such as “expect,” “could,” “may,” "anticipate,” “intend,” “plan,” “ability,” “believe,” “seek,” "see,” “will,” “would,” “estimate,” “forecast,” “target,” “guidance,” “outlook,” “opportunity” or “strategy” or similar expressions are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Although CRC believes the expectations and forecasts reflected in our forward-looking statements are reasonable, they are inherently subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. No assurance can be given that such forward-looking statements will be correct or achieved or that the assumptions are accurate or will not change over time. Particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include, but are not limited to: legislative or regulatory changes, including those related to direct air capture and the availability of related tax credits; our ability to successfully develop and finance direct air capture projects, including our ability to obtain funding from the federal government and other financing sources; availability or timing of, or conditions imposed on, permits and approvals necessary for direct air capture and other carbon management projects; and the other risks and uncertainties set forth in the CRC’s Annual Report on Form 10-K for the year ended December 31, 2021 (especially in Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations) and in the CRC’s other filings with the SEC. There may be other factors of which CRC is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. CRC does not assume any obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement.

Richard Venn (Media)
818-661-6014
This email address is being protected from spambots. You need JavaScript enabled to view it.

Joanna Park (Investor Relations)
818-661-3731
This email address is being protected from spambots. You need JavaScript enabled to view it.

Recertification Marks 15-Years of Compliance with California’s Rigorous Air Quality Standards for On-site Distributed Generation

LOS ANGELES--(BUSINESS WIRE)--$CGRN #CARB--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced that the California Air Resources Board (CARB) has recertified the Capstone C65 microturbine as a distributed generation resource exempt from CARB’s emission standards (Executive Order DG-018). The C65 was first certified in 2007 and has maintained its CARB certification and compliance with the Board’s testing standards for the last 15 years.

“As a California-based company serving a worldwide market, the CARB certification remains a meaningful achievement for Capstone Green Energy. California is known throughout the United States for setting the standard when it comes to air quality and emissions regulations. This certification, even now that we have held it for 15 years, gives Capstone credibility when we talk about our green energy commitment,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy.

The CARB recertification represents Capstone’s long-term commitment to developing microturbines with exceptional reliability, low maintenance requirements, and adherence to stringent emissions guidelines. Together, these attributes help Capstone customers achieve their energy efficiency and carbon reduction goals. Maintaining certification to these strict emissions standards has made the Energy-as-a-Service (EAAS) business more streamlined in assuring expedited air permitting for rental customers.

“The CARB certification is important because it certifies that vehicles and equipment meet certain emissions standards set by the state of California. This is significant because California has some of the strictest air quality regulations in the United States and the CARB certification serves as a benchmark for other states and countries to follow,” stated Don Ayers, Vice President of Technology at Capstone Green Energy.

About Capstone Green Energy

Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.

To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it..

For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
This email address is being protected from spambots. You need JavaScript enabled to view it.

Utilities can achieve over 300 percent ROI for load shifting with Bidgely’s comprehensive EV Solution

SAN DIEGO--(BUSINESS WIRE)--Bidgely today introduced electric vehicle (EV) Active Managed Charging to its award-winning UtilityAI™ EV Solution at DistribuTECH, the world’s premier event that connects utilities to future-ready solutions. New Active Managed Charging (also known as direct load control) is now part of Bidgely’s end-to-end EV Solution that also includes: EV Detection and Targeting, EV Passive Managed Charging (behavioral load shift) and EV Grid Analytics. Active Managed Charging can be launched in just weeks without data integration as a turn-key standalone application. Over 25 OEMs are available for data connection with seven available for active control: Ford, Hyundai, Jaguar, Land Rover, Toyota, Tesla, VW.

As the industry’s only complete and proven approach to EV engagement and management, Bidgely’s EV Solution accurately targets high-peak charging customers for incentive programs using the company’s patented AI-powered EV disaggregation technology. By delivering 90 percent or better accuracy in identifying customers with EVs on the grid and providing behind-the-meter visibility into their charging behaviors, Bidgely’s EV Solution provides utilities the ability to better target their highest-value customers for load-shift programs, reducing program costs from an average of ~$225/kW to ~$65/kW.

“The EV revolution is going to have a rapid and profound impact on load pressure, grid resilience and decarbonization. This will mean that utilities will need to take a smart and integrated approach to EV engagement and management, at a pace they have not historically moved,” said Bidgely CEO Abhay Gupta. “The only way to do this rapidly at the scale this revolution demands is by harnessing the power of data and AI to empower smarter energy decisions in an integrated and connected way.”

While other EV solutions rely on a patchwork of partners and technology that drive up costs, complexity, and time-to-value, the introduction of Active Managed Charging means Bidgely now provides an end-to-end solution for the smart integration of EVs onto the grid. This approach helps utilities to:

• Identify all EVs in a utility’s territory using Bidgely's patented EV disaggregation technology;
• Recruit economically at scale with Bidgely's omni-channel customer engagement solution, recognized as a leader in IDC's MarketScape report for digital customer engagement solutions;
• Target the specific EVs causing congestion based on advanced grid analytics; and
• Optimize charging of millions of EVs to help grid resilience, while offering the best value charging for consumers.

Bidgely has partnered with a range of utilities to help them realize sustainable load shift through the intersection of AI and EV consumer behavior influence. A tier one investor-owned utility reported over 90 percent accuracy in EV detection and estimation, with a 75 percent load-shift from on-peak to off-peak. Now, 97 percent of all EV charging is occurring off-peak.

To learn more about Bidgely’s new EV Active Managed Charging, visit: bidgely.com/resources/ev-active-managed-charging-with-telematics-solution-brief

Bidgely at DistribuTECH 2023

Visitors to DistribuTECH can join Bidgely at the event alongside notables like Duke Energy, Ameren, Southern California Edison, the Department of Energy and more in a series of live sessions and demonstrations. Attendees of yesterday’s SECC 2023 Best Practices Awards ceremony, where Bidgely’s EV Solution was honored as the winner for the Smart Energy Innovation category in collaboration with United Illuminating, can also schedule a meeting with Bidgely at DistribuTECH by visiting: bidgely.com/events/dtech.

About Bidgely

Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data - such as energy consumption, demographic, and interactions - into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, Bidgely is advancing smart meter innovation with data-driven solutions for solar PVs, EV detection, EV behavioral load shifting and managed charging, energy theft, short-term load forecasting, grid analytics, and TOU rate designs. Bidgely’s UtilityAI™ energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 17 energy patents, $75M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at bidgely.com/blog.

Christine Bennett
Bidgely
This email address is being protected from spambots. You need JavaScript enabled to view it.

Tellus Markets, a leading climate technology company, introduces the industry’s first technology solution with clean power and emissions reduction marketplaces.

DENVER--(BUSINESS WIRE)--Tellus Climate Suite, being released today by Tellus Markets, provides a single solution for companies to track, plan and meet their climate goals. This platform includes three interoperable products for streamlined operation and error-free data transfer. Tellus Climate Suite combines greenhouse gas accounting with digital marketplaces for users to purchase clean power, carbon offsets and RECs, providing the most comprehensive functionality of any climate solution available today.

Tellus Climate Suite is the logical evolution of their existing product offering for clean power purchasing, Tellus PPA. The expanded functionality brings enhanced value to existing customers, and offers a strong value proposition to any company with sustainability goals.

“An increasing number of firms are either beginning or accelerating their sustainability journey, committing to reducing emissions and hiring staff to implement those objectives. Up to now, sustainability teams had to go through a long process to identify and select technology solutions and digital marketplaces, ending up with a disconnected technology stack requiring significant management time and manual data transfer. With the launch of Tellus Climate Suite, for the first time these teams can leverage a single solution to manage and execute their organization’s sustainability plans to help achieve their climate goals,” said Chip Horton, Chief Executive Officer at Tellus Markets.

About Tellus Markets

Tellus Markets creates technology solutions that empower transformation of the global energy system. We are focused on improving the fragmented markets and inefficient transaction processes prevalent in climate markets and making our solutions available to a broad range of organizations. To learn more, please visit: https://www.tellusmarkets.com/

James Cahalin
+1 855-525-2500 x250
+1 720-771-0158
This email address is being protected from spambots. You need JavaScript enabled to view it.

Cognite advances delivery of simple access to complex industrial data with the latest release of its Industrial DataOps Platform, Cognite Data Fusion^®

OSLO, Norway & AUSTIN, Texas--(BUSINESS WIRE)--#Data--Cognite, a global leader in industrial software, today announced data product-based, advanced data modeling capabilities coming to its Industrial DataOps platform, Cognite Data Fusion^®. Data modeling is critical to build and maintain a standards-based Open Industrial Digital Twin. Managing data models as data products accelerates deployments and drives down the costs and complexity of industrial digital solution scaling through standardization and governance.

Cognite Data Fusion^® enables multiple data users to leverage common data in their unique tools and workflows, all from a single, trusted source. It allows them to build data products and populate data models that reduce the complexity of developing and scaling a wide variety of Asset Performance Management (APM) solutions across the enterprise. Cognite Data Fusion^® makes it easy for industrial companies to establish sound DataOps practices where the experts who know the data – data engineers and architects – collaborate with the experts who know the business context of the data – the subject matter experts and data scientists.

Previously, application developers and data scientists needed to query, filter, and stage data explicitly for their needs. With advanced data modeling practices, the data consumers who use these solutions can find and interpret data more easily than ever before. Thanks to the more robust search, filter, sorting, and aggregation capabilities, asset-heavy organizations can build, deploy, and scale industrial digital solutions 10-25x faster, resulting in 400% ROI, as identified by the Forrester Total Economic Impact™ study.

“With the latest updates to Cognite Data Fusion^®, we continue to make it easier to synchronize IT and OT systems and provide simple access to complex industrial data,” said Moe Tanabian, Chief Product Officer at Cognite. “Cognite Data Fusion^® makes it simple to connect to and operate data flows for a number of industry solutions. In this release, you’ll see a specific focus on features that help optimize production, reliability, maintenance, and environmental KPIs.”

Book a 30-minute Cognite Value Review for a complimentary consultation to uncover the economic impact your organization can expect from Cognite Data Fusion^®: www.cognite.com/en/value-review

About Cognite

Cognite is a global industrial SaaS company that was established with a clear vision: to rapidly empower industrial companies with contextualized, trustworthy, and accessible data to help drive the full-scale digital transformation of asset-heavy industries around the world. Our core Industrial DataOps platform, Cognite Data Fusion^®, enables industrial data and domain users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutions and applications to deliver both profitability and sustainability. Visit us at www.cognite.com and follow us on Twitter and LinkedIn.

Michelle Holford
Vice President, Global PR Cognite
This email address is being protected from spambots. You need JavaScript enabled to view it.

- NRG makes it easier to own and drive an EV with a no-cost home charger and lower-priced, off-peak charging -

PHILADELPHIA--(BUSINESS WIRE)--NRG, one of the nation’s leading electricity and natural gas suppliers, now offers an energy plan designed to make it easier for customers to own and charge their electric vehicles (EVs) and to facilitate greater adoption of EVs. It is the first such plan available to electricity customers who live within select utilities in Pennsylvania and Maryland.

NRG’s EV Power Charger plan includes a Level 2 at-home EV charger at no-cost and reduced-price energy at night and early morning, when most EV owners typically charge their vehicles.

“We’re excited to roll out our EV Power Charger plan and help remove potential barriers to owning an EV,” said Bucky Gardner, Vice President and General Manager of NRG Home East. “At NRG, we believe in giving customers the power to choose their electricity supplier and a plan that fits their lifestyle. With this first-of-its-kind plan, our customers are in the driver’s seat.”

Here’s how the time-of-use portion of the plan works. Customers who charge their electric vehicles and use appliances between 10 p.m. and 7 a.m., when demand is lowest, will receive lower electricity supply prices.

For those on the fence about getting an EV, the convenience of efficient charging at home along with lower-cost, time-of-use pricing, can help people decide to take that step to buy an EV and is what makes NRG’s EV Power Charger Plan so unique.

Level 2 EV chargers typically take between three and eight hours, depending on the range of the vehicle, to fully charge a vehicle. The charger is compatible with most EVs, although Tesla owners would need a separate adapter.

To learn more about NRG’s EV Power Charger plan, visit picknrg.com/ev.

About NRG

NRG Energy is a leading energy and home services company powered by people and our passion for a smarter, cleaner, and more connected future. A Fortune 500 company operating in the United States and Canada, NRG delivers innovative solutions that help people, organizations, and businesses achieve their goals, while also advocating for competitive energy markets and customer choice. More information is available at www.nrg.com. Connect with NRG on Facebook, and LinkedIn, and follow us on Twitter, @nrgenergy.

Dave Schrader, Senior Manager Communications East
267-295-5768
This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that it will host its fourth quarter and full year 2022 earnings conference call at 10:00 a.m. Central Standard Time on Tuesday, February 21, 2023. FET will issue a press release regarding its fourth quarter and full year 2022 earnings prior to the conference call.

The call will be webcast through the Investor Relations link on FET’s website at ir.f-e-t.com.

Important note regarding the process for asking questions during the conference call: Participants who want to ask a question during the call should register on FET’s Investor Relations website page or click here to receive the dial-in numbers and a unique PIN. Participants are encouraged to join the call approximately ten minutes prior to its start time. A replay of the call will be available on the Investor Relations website beginning on February 21, 2023, at approximately 5:00 p.m. Central Standard Time.

FET is a global company, serving the oil, natural gas, industrial and renewable energy industries. FET provides value added solutions that increase the safety and efficiency of energy exploration and production. We are an environmentally and socially responsible company headquartered in Houston, TX with manufacturing, distribution and service facilities strategically located throughout the world. For more information, please visit www.f-e-t.com.

Rob Kukla
Director Investor Relations
281.994.3763
This email address is being protected from spambots. You need JavaScript enabled to view it.

LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, announced the first delivery of Low Sulphur Gasoil futures since Russian oil was excluded from the contract at the end of 2022.

Following extensive consultation with market participants, and in line with sanctions preventing the delivery or export of Russian oil in the European Union (EU) which took effect from February 5, 2023, ICE changed the methodology for Low Sulphur Gasoil futures from previously delivering diesel from any origin, to deliver diesel that does not include any originating from Russia. ICE Gasoil is the global benchmark for refined oil products.

A total of 69,800 tons entered the delivery process, with Gasoil delivered in the Amsterdam, Rotterdam, and Antwerp areas, in-line with the amount delivered in January 2022. Gasoil open interest is at 596,900 contracts, up 13% since the start of the year, with trading volumes up 40% in January 2023 versus December 2022.

“ICE worked closely with market participants and regulators to design a workable solution for our customers, so that they can confidently participate in physical delivery and trade Gasoil with the knowledge that the contract is EU sanctions compliant and fully representative of physical distillates flows,” said Jeff Barbuto, Global Head of Oil Markets at ICE. “It is encouraging to see customers engaging in the new, Russian-Free Gasoil contract through the delivery mechanism and on a financial trading basis.”

The ICE Low Sulphur Gasoil Futures contract has a successful 42-year history as a physically deliverable futures contract for what is now ultra-low sulphur diesel. The contract forms part of ICE’s global crude and refined product complex which includes Brent crude, the price barometer for approximately 80% of global crude, WTI, Midland WTI Gulf Coast (HOU), (Platts) Dubai, and Murban benchmarks. These provide the foundation for over 600 related oil products spread over multiple geographic markets, giving participants access to the products they need at the point of consumption or production.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.

Category: EXCHANGES

ICE- CORP

Source: Intercontinental Exchange

ICE Investor Contact:
This email address is being protected from spambots. You need JavaScript enabled to view it.

ICE Media Contact:
This email address is being protected from spambots. You need JavaScript enabled to view it.