FREMONT, Calif.--(BUSINESS WIRE)--Ionblox, a next-generation lithium-ion battery company announced a second close of its Series B round at an increased $32 million. Strategic partners include original investors Lilium and Applied Ventures who were joined by Temasek and Catalus Capital. The company will use the increased Series B funding to scale its technology, develop advanced high-power cells for electric aviation, and prototype fast-charge cells for Electric Vehicles.

The company’s batteries are developed with high-performance lithium-ion cells that have pre-lithiated silicon dominant anodes. The batteries can address the most demanding use cases such as electric Vertical Take-off and Landing Aircrafts or eVTOL. Ionblox’s pre-lithiated Silicon anode technology enables a groundbreaking combination of up to 50% higher energy density, 5X more power, and an extreme fast charge of 10 minutes compared with conventional lithium-ion cells. Ionblox is currently producing its large format pouch cells of up to 50Ah on its pilot production lines.

“Here at Ionblox, we are commercializing next-generation lithium-ion batteries with pre-lithiated silicon dominant anodes in order to transform the future of electric mobility,” said Sujeet Kumar, chief executive officer at Ionblox. “The funding from this round will enable us to take an important step in our journey to scale our technology and set up our own cell manufacturing in the U.S. and other key markets.”

“The Ionblox technology enables one of the highest performance cells for eVTOL aircraft existing today and we’re proud to partner with Ionblox for our conforming aircraft. Test results to date are showing the technology will deliver not only superior energy and power density for the Lilium Jet at launch but also very good aging performance. We’re excited to continue our work together to support the continuous improvement and the ongoing industrialization of the technology,” said Yves Yemsi, chief operating officer of Lilium.

To commercialize its next-generation technology, Ionblox has received a development contract from USABC to develop low-cost, fast-charge electric vehicle batteries where its cell performance has been verified by Idaho National Lab and is also partnering with leading semiconductor equipment manufacturer Applied Materials.

About Ionblox

Founded in Fremont, California in 2017, Ionblox (previously known as Zenlabs) is a next-generation energy company transforming the future of mobility by land and air. The company has more than 40 issued patents, including for the pre-lithiation of all types of silicon-based anodes. Ionblox’s proprietary pre-lithiated silicon anode and cell design enable multiple performance attributes – fast charging, high energy, high power, and long life at low cost – pushing the limits of traditional battery storage technology and unlocking the viability of widespread electric transportation. Ionblox is leading the electric mobility revolution by delivering superior technology and enabling electric vehicle (EV) and electric vertical take-off and landing vehicle (eVTOL) companies to achieve their goals. Ionblox’s investors include Lilium, Applied Ventures, Temasek and Catalus Capital.

Learn more about Ionblox and how it is transforming the future of electric transportation at www.ionblox.com and LinkedIn (@Ionblox).

Learn more about Lilium at www.Lilium.com; about Applied Ventures at www.appliedmaterials.com/us/en/applied-ventures.html , about Catalus Capital at www.cataluscapital.com; about Temasek at www.temasek.com.sg

Media Contact:
Alex Autry
Silverline
(240) 346-8136
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Company’s Wildlife Rehabilitation Program totals more than $500,000 in grants to centers nationwide through its seven-year history

Funds will be used to combat the Avian Influenza, study copper toxicity, build new shelters, purchase nutritious food and more

ORANGE, Conn.--(BUSINESS WIRE)--The Avangrid Foundation, the primary philanthropic arm of leading sustainable energy company AVANGRID, Inc. (NYSE: AGR), today announced a record total of $136,000 in grants to 15 wildlife rehabilitation centers as part of its Wildlife Rehabilitation Program. This is the highest amount of grants ever given in the program’s history. The funds will support operational capabilities and expand outreach to communities within the service area of the AVANGRID family of companies to improve knowledge and awareness of wildlife resources.

“As a leading clean energy company, we acutely understand the importance of environmental stewardship,” said Pablo Colón, director of corporate citizenship and executive director of the Avangrid Foundation. “We are committed to wildlife protection, preserving healthy ecosystems and promoting biological diversity—all of which are essential for a sustainable future. This year’s grantees are making impactful and lasting changes for the good of wildlife and our environment, all in unique ways. We’re thrilled to support their efforts.”

Now in its seventh year, AVANGRID’s Wildlife Rehabilitation Program has given a total of more than $500,000 in grants to centers nationwide. This round of grantees spans ten states: Arizona, California, Connecticut, Maine, New Mexico, New York, Ohio, Oregon, Pennsylvania and Iowa. The grantees will use the funds to:

• Badger Run Wildlife Rehab (Oregon): Break ground on a quarantine facility to protect avian patients from the Highly Pathogenic Avian Influenza (HPAI) virus.
• Blue Mountain Wildlife (Oregon): Complete the organization’s new Intake Center, which includes exam and quarantine rooms, to combat HPAI.
• Center for Wildlife (Maine): Cover expenses for personal protective equipment needed due to HPAI and an OWL Labs Meeting Camera System to facilitate research and collaboration with other facilities.
• Green Chimneys (New York): Build an emperor and snow geese indoor shelter and a songbird rehabilitation cage at its Farm and Wildlife Center.
• Hawks Aloft (New Mexico): Support a monthly raptor rescue zoom collaboration, employee training, education, and purchasing lead testing equipment.
• Liberty Wildlife (Arizona): Study copper toxicity in California Condors.
• Nature’s Nursery (Ohio): Construct a new raptor rehabilitation habitat to accommodate its growing wildlife admissions rate.
• Ojai Raptor Center (California): Purchase raptor food and medicine.
• Red Creek Wildlife Center (Pennsylvania): Upgrades and supplies need at the temporary facility the will replace the clinic last in a December 2022 fire.
• Roaring Brook Nature Center (Connecticut): Support for Wildlife Rehabilitation Clinic and public viewing window.
• Saving our Avian Resources (SOAR) (Iowa): Purchase nutritious, quality food for rehabilitating raptors and support educational outreach.
• Sharon Audubon (Connecticut): Rehabilitation and education summer paid intern to support its efforts.
• Whispering Willow Wild Care (New York): Offer free programming to low income schools in underserved areas of the Capital Region of New York.
• Wildlife Works (Pennsylvania): Offer a paid internship for high school and college students, ensuring proper staffing during the organization’s busiest season.
• US Davis California Raptor Center (California): Support for the organization’s volunteer and educational work.

“The Avangrid Foundation has provided us with this grant at a critical time for wildlife rehabs across the country as we all deal with Highly Pathogenic Avian Influenza (HPAI),” said Laura Hale, president of Badger Run Wildlife Rehab. “The HPAI virus has made it critical for us to be able to quarantine all new avian patients upon admission to avoid spreading this virus throughout our facility. This virus would be deadly to any raptor patients, as well as our entire team of educational avian animal ambassadors. By providing these funds, the Avangrid Foundation will make it possible for us to break ground in Spring 2023 to erect a building specifically dedicated as a quarantine facility on our grounds. This will allow us to safely admit and triage multiple new patients at the same time while keeping them safely separated during the quarantine period. Our most heartfelt thank you to the Avangrid Foundation for helping us continue to care for the sick, injured, and orphaned wildlife of Southern Oregon.”

For more information on the Avangrid Foundation, click here.

About Avangrid Foundation: The Avangrid Foundation is an independent, nonprofit organization that funds philanthropic investments that primarily impact communities where AVANGRID, Inc. (NYSE: AGR) and its subsidiaries operate. Since 2001, the Avangrid Foundation and its predecessors have invested more than $36 million in partnerships that focus on building sustainable, vital and healthy communities; preserving cultural and artistic heritage; advancing education; and improving people’s lives. The Avangrid Foundation is committed to advancing the United Nations Sustainable Development Goals in the United States. For more information, please visit www.avangridfoundation.org.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,000 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, AVANGRID ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. AVANGRID is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.

MEDIA CONTACT:
Sarah Warren
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585-794-9253

New sulfuric acid plant guarantees strict control of particulate and sulfur dioxide emissions for optimum air quality in critical region

ST. LOUIS--(BUSINESS WIRE)--Indonesian mining company PT Amman Mineral Industri (AMIN) has partnered with Elessent Clean Technologies (Elessent) for the provision of a new smelter off-gas MECS^® sulfuric acid plant equipped with MECS^® DynaWave^® wet gas scrubbing technology. The new plant will be constructed in Sumbawa, Nusa Tenggara Barat, Indonesia with anticipated startup in 2024.

Over the last few years, Indonesia has become a critical region for the battery metal marketplace. As the EV revolution sweeps the globe, consumers are procuring more vehicles to support energy transition. Battery metals are essential for the production of electric vehicles, as well as numerous other electronics, and producers are turning to Indonesian mining operations for access to materials. Elessent’s MECS^® sulfuric acid plant technology provides sulfuric acid used in HPAL (high-pressure acid leaching) extraction of battery raw materials with the most stringent control of emissions. With a new office in Jakarta, Elessent’s subsidiary, PT MECS MandR Solution, will be a local provider of technical services to customers throughout the country.

“AMIN chose Elessent for their reputation in meeting environmental regulations and the high reliability of their technologies. Using MECS^® acid plant design and its incorporated technologies, our new plant will expectedly meet site-specific environmental, cost and operational goals, as well as environmental requirements,” said Mr. Anil Upadhyay, Copper Smelter Project Director, AMIN.

The MECS^® sulfuric acid process design for AMIN incorporates state of the art technology including both MECS^® pre-conversion technology, which offers a novel approach for processing gas streams with elevated sulfur dioxide concentrations, and MECS^® DynaWave^® wet gas scrubbing technology. DynaWave^® scrubbers clean and condition the off gas from the copper smelter furnaces upstream of the sulfuric acid plant and are the gold standard for gas cleaning applications. Licensed and marketed by Elessent Clean Technologies, MECS^® DynaWave^® scrubbing technology has been successfully used at more than 400 sites worldwide.

The new sulfuric acid plant will enable AMIN to provide high quality sulfuric acid to the local Indonesian market, as well as benefiting the country and region by tightly controlling air emissions from the smelter.

The MECS^® sulfuric acid technology has been in use for nearly 100 years in the phosphate fertilizer, non-ferrous metals (leaching & smelting), oil refining and general chemical industries. MECS^® technologies feature breakthrough solutions, many of which have revolutionized the performance, quality and cost-effectiveness of customer operations. They include MECS^® heat recovery systems (HRS™), MECS^® SolvR^® regenerative SO₂ scrubbing and MECS^® MAX3™ sulfuric acid production technology. Integrated into these MECS^® technologies are proven specialty products such as catalysts, Brink^® mist eliminators, DynaWave^® scrubbers, ZeCor^® corrosion resistant alloy products, and acid coolers all of which are specifically designed for the most demanding operating environments. Licensed and marketed by Elessent Clean Technologies, the MECS^® technology is the world-leading sulfuric acid production technology with more than 400 licensed acid plants worldwide since the 1960’s. Elessent Technologies is committed to long-term customer satisfaction and support for the life of customer assets. Learn more at ElessentCT.com.

About Elessent Clean Technologies

Elessent Clean Technologies is a global leader in process technologies to drive sustainability and carbon neutrality in the metal, fertilizer, chemical and oil refining industries with an unwavering commitment to customer support. We provide extensive global expertise across our portfolio of offerings in key applications – MECS^® sulfuric acid production, STRATCO^® alkylation, BELCO^® wet scrubbing and IsoTherming^®  hydroprocessing. Offering critical process equipment, products, technology and services, we enable an array of industrial markets, including phosphate fertilizer, non-ferrous metals, oil refining, petrochemicals and chemicals, to minimize their environmental impact and optimize productivity. We are dedicated to helping our customers produce high-quality products used in everyday life in the safest, most environmentally-sound way possible, with a vision to make the world a better place by creating clean alternatives to traditional industrial processes. Learn more at www.ElessentCT.com.

Elessent Clean Technologies, the Elessent Logo, and all trademarks and service marks denoted with ™, ^SM or ® are owned by affiliates of Elessent Clean Technologies Inc. unless otherwise noted.

Elessent Clean Technologies
Mary Reiss
Tel: +1-314-464-4375
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MECS^® Sulfuric Acid Technology
Sarah Douglas
Tel: +1-314-464-3764
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DAVIS, Calif.--(BUSINESS WIRE)--BioConsortia, Inc., a recognized leader in the field of gene-editing to unleash the power of microbes for crop protection, nitrogen-fixation and yield improvement, announced today that Dr. Damian Curtis, BioConsortia’s Director of Synthetic Biology and Genomics, will present “Unleashing the Power of Microbes to Meet the World’s Food Needs” at the 5^th Annual CRISPR AgBio Congress. The event will take place in San Diego, February 14 to 16, 2023.

Dr. Curtis’ presentation will highlight the company’s recent success in its efforts to design microbes for superior nitrogen-fixing performance. Dr. Curtis, who leads new technology development in strain improvement and engineering for BioConsortia’s next generation of biopesticides, biostimulants and nitrogen fixation products, will also be seeking to connect with potential partners from the seed, fertilizer, and seed treatment industries to discuss ways BioConsortia’s gene-edited microbes can address performance challenges in crop production.

CRISPR AgBio Congress
Date: February 14 – 16, 2023
Conference Link: https://crispr-agbio-conference.com/

For more information on the 5^th Annual CRISPR AgBio Congress or to schedule a one-on-one meeting, please contact BioConsortia at This email address is being protected from spambots. You need JavaScript enabled to view it..

ABOUT BIOCONSORTIA:

BioConsortia, Inc. develops superior microbial products that protect plants, enhance fertility, and increase yields while improving the sustainability of agriculture for our environment. Pioneering the use of directed selection within microbial communities, BioConsortia’s patented Advanced Microbial Selection (AMS) process and cutting-edge GenePro genomics and gene-engineering platform enable the company to predict, design, and unleash the natural power of microbes.

BioConsortia’s microbial products deliver superior efficacy, higher consistency, and easier grower adoption. The company’s rich pipeline includes nitrogen fixation microbes to replace synthetic nitrogen fertilizers; nutrient use efficiency and biostimulants to increase crop yields; bionematicides & biofungicides to protect crops from pests and diseases; and products for post-harvest pathogen control to safeguard food waste in the distribution chain, retail store and home. BioConsortia is producing breakthrough solutions for growers in major agricultural markets with multiple environmental benefits.

Media contact: Jon Amdursky
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In this role, Loban will lead the growing digital practice and oversee the integration of digital strategies across the agency

NEW YORK--(BUSINESS WIRE)--Antenna Group, an integrated marketing, public relations, and strategic communications agency, announced today that Jacob Loban has joined the team as Executive Vice President and Head of Digital and Performance Marketing.

Loban has nearly two decades of experience in integrated marketing, performance intelligence and operations. He joins Antenna Group from Edelman where he served as Executive Vice President, Head of Performance Intelligence, North America. While at Edelman, Loban launched the firm’s Performance Intelligence group, a division of Edelman Data & Intelligence (DxI). Within two years, he successfully established the audience intelligence, activation, centralized operations, data infrastructure, and planning processes needed to deliver the truly integrated communication strategies, data-driven creative development, and holistic measurement solutions critical to DxI’s value proposition. Prior to Edelman, Loban was Head of U.S. Performance Media at Omnicom Group’s PHD, where he led the integration of Resolution, Accuen, and PHD’s traditional digital capability to establish the agency’s first fully integrated, audience-led, performance-based solution. Prior to PHD, Loban held leadership roles at the world's largest agencies, including WPP’s MediaCom and multiple tours at Omnicom’s Resolution Media.

“Antenna clients expect digital marketing campaigns that are innovative, creative and results-oriented. This expectation demands leaders that are relentlessly committed to driving continual improvements,” said Antenna Group CEO Keith Zakheim. “Jake’s professional experience, skillset and character reflect a leadership profile that will drive value for our clients and staff, as well as unlock growth opportunities for the entire organization. We feel fortunate to have Jake on our leadership team and as the steward of our digital marketing practice.”

Antenna Group is aggressively growing its digital and performance marketing capabilities to include a diverse group of talent across online advertising, marketing automation, lead generation, social media management and search engine optimization. Loban will lead this group and partner with Antenna’s leadership team to ensure efficiency and seamless client service across cross-functional teams. Additionally, Loban will leverage his experience and marketing acumen to identify new digital channels and build innovative service offerings that will empower our clients to thrive in a digital-first world.

“From day one, Antenna has focused on supporting companies that have not only taken a stand but have taken action to make our world a better place,” said Loban. “I couldn’t be more thrilled to work with leaders like Keith Zakheim and Chief Operating Officer Eric Schoenberg, as well as the full team of talented and passionate ‘Ants’ to further accelerate growth for our clients through the strategic application of innovative data and technology solutions.”

About Antenna Group

Antenna Group is an integrated marketing, public relations, public affairs and digital agency that partners with the world’s most exciting and disruptive companies across cleantech, mobility, real estate, healthcare, and emerging B2B tech sectors. Our clients are transformational and distinguished corporations, startups, investors, and nonprofits that are at the bleeding edge of the “Age of Adoption” — the world today in which companies, representing every economic sector, are furiously adopting climate tech and sustainable solutions. To learn more, please visit https://www.antennagroup.com/.

Media
Isaac Steinmetz
VP of Media Relations
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Auto Show Returns After Two-year Hiatus to New Venue on New Dates

SANTA CLARA, Calif.--(BUSINESS WIRE)--The Silicon Valley Auto Show returns to the Bay Area, after a two-year hiatus, with a collection of some of the latest cars, trucks, crossovers, SUVs, electric vehicles, exotics and more. The show is back and celebrating all things cars and tech at its new location, the Santa Clara Convention Center, with plenty of free parking. Set to take place Friday, February 17 through Sunday, February 19, 2023, this is the place to check out many of the 2023-new model vehicles in a non-selling environment.

“While much of today’s headlines focus on high priced vehicles, there are many affordable new car choices to check out including an abundance of affordable fuel-sipping new cars too – 40, 50 or even 60 miles per gallon is common in today’s hybrid and plug-in hybrid vehicles,” said Kelly Blue Book Executive Editor Brian Moody “Trucks, hybrids, electric vehicles, high performance and high tech, the Silicon Valley Auto Show really does have something for everyone.”

Product specialists from leading automotive manufacturers will be at the auto show to answer questions and provide information. From all-electric vehicles to large trucks, attendees are invited to sit behind wheels, inspect engines, experience new technologies.

A lineup of all-new gas and electric vehicles will be available for test drives right at the show. Licensed drivers are invited to get a feel for the performance and handling of several new models from Toyota, Polestar, and Kia, including Kia’s all-electric EV6 and Niro EV. New this year, the all-electric Polestar 2 will be available for test drives, courtesy of Polestar San Jose.

A collection of exotics will turn heads at the auto show with models from McLaren, Porsche, Ferrari, and more. Additionally, car fans will enjoy a showcase of custom tricked-out cars with wild paint jobs and custom modifications, courtesy of Spider Custom Cars.

The Silicon Valley Auto Show takes place at its new location, the Santa Clara Convention Center, 5001 Great America Parkway, Santa Clara, CA 95054 (next to Levi’s Stadium). Free parking available onsite. The Silicon Valley Auto Show is owned and presented by the Silicon Valley Automobile Dealers Association and sponsored by CEFCU. Visit www.svautoshow.com.

DeeDee Taft
Spin Communications
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o) 415-380-8390

With interview requests doubling and the average time-to-interview dropping nearly 50% across Skillit customers, 2023 is set to be a win-win for skilled labor and large, self-perform contractors

NEW YORK--(BUSINESS WIRE)--Skillit, the data-driven recruiting platform for skilled, full-time construction labor, today announced the findings from its first annual Craft Intelligence Report. The results reveal that continued commercial construction spending and hiring demands are amplifying the construction labor market as we head into 2023. The Skillit Craft Intelligence Report is an accumulation of insights gained from Skillit’s purpose-built recruiting platform and its proprietary Skillit Relative Demand Score.

Based on 2022 trends, Skillit’s analysis focused on four key trades: Commercial Carpenters, Operating Engineers, Solar Installers, and Superintendents. Using the Skillit Relative Demand Score, this analysis revealed that Austin, Dallas, and San Jose are among the most competitive markets across Commercial Carpenters, Operating Engineers, and Superintendents. Solar Installers are in extremely high demand in Dallas, TX, three times more so than in Miami, the second highest market.

The Skillit Relative Demand Score is a cross-MSA measure of short-term demand for identified trades relative to their available supply in specific markets. The values are standardized by trade to indicate where the demand is likely to be the highest (and lowest), also suggesting where wages will likely increase (or decrease).

Data from Skillit’s recruiting platform, analyzing interview processes and demand in 2022, revealed that:

• Interview requests from September to October doubled
• Interview requests increased by another 24% from October to November
• The average time-to-interview decreased from 6.2 days in Q2 to 3.3 days in Q4

“2022 saw a shortage of about 650,000 workers, but as we dove into the data, it was obvious that shortage was not due to an actual lack of skilled workers, it was the inability to identify and make intentional connections between workers and employers,” said Fraser Patterson, CEO and Founder, Skillit. “Our industry has a data problem. Taking a data-driven approach to the skilled labor shortage is a game changer. As the construction industry booms with the demand for infrastructure, manufacturing facilities and housing, it will increasingly be served by large, self-perform contractors as they can decrease cost and reduce risk. Skillit exists to unlock the opportunity of smarter and more efficient hiring processes as these trends accelerate.”

To access the Skillit Craft Intelligence Report, visit https://skillit.com/craft-recruiting-report-q4-2022/.

About Skillit
Skillit is the first recruiting platform purpose-built for construction that uses data to solve the industry’s biggest problem - the shortage of skilled labor. The company is on a mission to solve the skilled labor crisis by delivering technology and data solutions that meet the needs of both skilled workers and construction companies alike. Founded by an entrepreneur with personal experience as a General Contractor and Carpenter, Skillit connects the supply of skilled workers with contractor demand in the $1.6T annual construction industry. An end-to-end purpose-platform providing visibility into the full employee lifecycle, Skillit improves recruitment (supply and hiring process) and retention outcomes for the world’s leading ENR contractors. Founded in 2021 and backed by venture capitalists, including Building Ventures, MetaProp, and HOLT Ventures, Skillit is delivering meaningful improvements to key metrics for hiring managers, including percent of offers accepted and time to hire. To learn more, please visit: https://www.skillit.com/

Media
Kate Gundry
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617-797-5174

CANONSBURG, Pa.--(BUSINESS WIRE)--Equitrans Midstream Corporation (NYSE: ETRN) will release its fourth quarter and full-year 2022 earnings information on Tuesday, February 21, 2023, and will also host a conference call with analysts and investors at 10:30 am (ET). A brief Q&A session for security analysts will immediately follow the results discussion.

Call Access: An audio live stream of the call will be available on the internet, and participants are encouraged to pre-register online, in advance of the call, at: Q4/Full-Year 2022 Webcast. A link to the audio live stream will be available on the Investors page of Equitrans' website the day of the call.

Security Analysts :: Dial-In Participation
To participate in the Q&A session, security analysts may access the call in the U.S. tollfree at (888) 330-3573; and internationally at (646) 960-0677. The Equitrans conference ID is 6625542.

All Other Participants :: Webcast Registration
Please Note: For optimal audio quality, the webcast is best supported through Google Chrome and Mozilla Firefox browsers.

An updated investor presentation will be available on Equitrans Midstream's Investor Relations website the day of the call.

Call Replay: For 14 days following the call, an audio replay will be available at (800) 770-2030 or (647) 362-9199. The Equitrans Midstream conference ID is 6625542.

About Equitrans Midstream Corporation

Equitrans Midstream Corporation has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located infrastructure assets in the Marcellus and Utica regions, Equitrans has an operational focus on gas transmission and storage systems, gas gathering systems, and water services that support natural gas development and production across the Basin. With a rich 140-year history in the energy industry, Equitrans was launched as a standalone company in 2018 with a vision to be the premier midstream services provider in North America. While working to meet America's growing need for clean-burning energy, Equitrans is proud of its environmental, social, and governance (ESG) practices, striving every day to preserve and protect the environment, provide an engaging workplace for its employees, support and enrich its local communities, and to deliver sustained value for customers and shareholders.

Visit www.equitransmidstream.com; and to learn more about our ESG practices visit Equitrans Sustainability Reporting.

Analyst/Investor inquiries:
Nate Tetlow – Vice President, Corporate Development and Investor Relations
412-553-5834
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Media inquiries:
Natalie A. Cox – Communications and Corporate Affairs
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The Company also announces Edward T. Lewis’s retirement from the Wills Group board after more than 30 years

LA PLATA, Md.--(BUSINESS WIRE)--#BoardofDirectors--The Wills Group, a family-owned company headquartered in La Plata, Maryland, announced today the appointment of Lenny Comma to its Board of Directors. His appointment was made effective on January 1, 2023.

Lenny Comma joins the Wills Group Board of Directors bringing 30-plus years of experience across food service and retail fuels marketing throughout his career. Comma spent more than 19 years with Jack In the Box, Inc. where he led the effort to transform the company’s business model while also working to align operations in support of the company’s brand strategy. Prior to Jack in the Box, Comma was with ExxonMobil where he worked across the company’s retail fuels and convenience store lines of business.

“We are honored to have Lenny Comma join the Wills Group board,” said Blackie Wills, President & COO of the Wills Group. “Comma’s experience as a leader during times of change will be especially instrumental as the Wills Group continues its transformation and commitment to expanding our food service offerings at our Dash In stores. Comma’s vision will be a welcome addition to our Board.”

Today the Wills Group also announced the retirement of Board Member Edward T. (Ted) Lewis who departs the Wills Group board after more than 30 years of contributions.

“Ted Lewis’s contributions over the course of the past 30 years have been remarkable,” added Wills. “We wish Edward all the best – his tenure on the Wills Group Board has created a solid foundation for our continued growth.”

The Wills Group’s Board of Directors consists of J. Blacklock Wills, Jr., Executive Chairman; Julian Blacklock (Blackie) Wills, III, President & COO, Wills Group; Craig A. Ruppert, President, Ruppert Companies; Stephanie Reel, former CIO, Johns Hopkins University & Health Systems; Tuajuanda C. Jordan Ph.D, President, St. Mary’s College of Maryland; Michael D. Hankin, President and CEO, Brown Advisory Incorporated; Stephen L. Owen, former Partner, DLA Piper, LLC; Van T. Mitchell, President, MSI, Inc.; and Simon Pearce, Founder and Managing Partner, Emotiff.

About Wills Group, Inc.

Headquartered in La Plata, Maryland, the Wills Group has nearly 300 retail locations across the Mid-Atlantic region, including Dash In, Splash In ECO Car Wash, and SMO Motor Fuels. A family-owned company since 1926 with expertise in convenience retailing, fuels marketing, and commercial real estate, the Wills Group prides itself on keeping customers, employees and communities’ Lives in Motion. For more information about the Wills Group, visit willsgroup.com.

Jim Healy
202-321-5808
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DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”) today announced it will report fourth quarter and full year 2022 financial results on Monday, February 27, 2023, after market close. The Company’s press release will be available on the Primoris website at www.prim.com.

In conjunction with the press release, management will host a conference call and webcast on Tuesday, February 28, 2023, at 9:00 a.m. U.S. Central Time (10:00 a.m. U.S. Eastern Time), to discuss the Company’s fourth quarter and full year 2022 results and its business outlook for 2023.

Interested parties are invited to dial-in at 1-888-330-3428, or from outside the U.S. at 1-646-960-0679, using access code: 7581464, or by asking for the Primoris conference call. A link to the webcast will be accessible from the “Investors” section of the Company’s website at www.prim.com.

A replay of the conference call will be available Tuesday, February 28, 2022, beginning at 5:00 p.m. U.S. Central Time for seven days. The phone number for the conference call replay is 1-800-770-2030 or, for calls from outside the U.S., 1-647-362-9199, using access code: 7581464. The replay of the webcast will also be available on the Company’s website following the end of the live call.

About Primoris

Primoris Services Corporation is a leading specialty contractor providing critical infrastructure services to the utility, energy/renewables and pipeline services markets throughout the United States and Canada. The Company supports a diversified base of blue-chip customers with engineering, procurement, construction and maintenance services. A focus on multi-year master service agreements and an expanded presence in higher-margin, higher-growth markets such as utility-scale solar facility installations, renewable fuels, power delivery systems and communications infrastructure have also increased the Company’s potential for long-term growth. Additional information on Primoris is available at www.prim.com.

Blake Holcomb
Vice President, Investor Relations
214-545-6773
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Intercraft Solar deploys Tigo products to deliver solar performance in complex and varied shade and roof pitch environments.

RIO DE JANEIRO--(BUSINESS WIRE)--Tigo Energy, Inc. ("Tigo," or the "Company"), a leading provider of intelligent solar and energy storage solutions, today unveiled its work with Intercraft Solar (“Intercraft”), a designer and installer of solar photovoltaic energy solutions based in Rio de Janeiro, Brazil, to maximize solar performance on shade-prone and variable pitch roofs. Intercraft uses Tigo MLPE (Module Level Power Electronics) devices to deliver optimal power generation, detailed module-level monitoring, and advanced rapid-shutdown functionality.

Intercraft serves the residential and commercial solar markets by combining a focus on customer satisfaction and service with advanced solar technology. Intercraft uses Tigo Flex MLPE devices because of their broad compatibility with inverter models from top manufacturers, which gives installers like Intercraft the flexibility to design systems to the cost and performance criteria provided by customers. In Intercraft’s portfolio of systems installed with Tigo Energy optimizers, installations are often found with shading due to walls, antennas and trees, as well as a ground system with modules at four different angles.

“I advise my customers to use what I think are the best products on the market because these investments should deliver great performance throughout their more than two-decade lifespans, and Tigo is always on that list,” said Wesseley Dutra, co-owner of Intercraft Solar. “Tigo TS4-A-O optimizers allow us to design systems that deliver outstanding solar energy production, even on roofs with shading obstructions like walls, antennas, and trees. In addition to great performance, we deploy Tigo because the products deliver the reliability and longevity our customers have come to expect.”

The Tigo TS4 platform maximizes the benefit of PV systems for installers on all continents. With a range from less than 10kW to more than 10MW in size, and installation in less than ten seconds per module, Tigo has a globally proven, trusted, and reliable product portfolio, from rapid shutdown to module-level monitoring and advanced energy optimization. Additionally, Tigo products can work seamlessly with more than 2,000 inverter types.

“At Tigo, our mission is to help solar installers deliver the best possible solution for their customers by empowering them with greater design flexibility, features, and performance they expect,” said Hugo Moreira, technical manager, Latin America at Tigo Energy. “The team at Intercraft Solar serves as a great example of a solar installation company that takes full advantage of everything Tigo has to offer, and I look forward to our continued collaboration.”

To learn more about Tigo Flex MLPE products, please visit www.tigoenergy.com or contact the Tigo sales team at https://www.tigoenergy.com/contacts.

About Tigo Energy, Inc.

Founded in 2007, Tigo is a worldwide leader in the development and manufacture of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Tigo combines its Flex MLPE (Module Level Power Electronics) and solar optimizer technology with intelligent, cloud-based software capabilities for advanced energy monitoring and control. Tigo MLPE products maximize performance, enable real-time energy monitoring, and provide code-required rapid shutdown at the module level. The company also develops and manufactures products such as inverters and battery storage systems for the residential solar-plus-storage market. For more information, please visit www.tigoenergy.com.

Media Contact for Tigo in Brazil
Manoel Monteiro
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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
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(410) 770-9500

EV test track powered by ComEd is open to Chicago Auto Show attendees from Feb. 11-20

CHICAGO--(BUSINESS WIRE)--Attendees at this year’s Chicago Auto Show will have the opportunity to experience electric vehicles (EVs) firsthand at the Chicago Drives Electric Track powered by ComEd. The ComEd-sponsored test track will feature EVs from BMW Cadillac, Chevrolet, Nissan and Volkswagen to give drivers who are considering an EV the chance to ride in one and help aid their decision to make the switch.

“As part of our commitment to creating a cleaner and brighter future for every community in northern Illinois, ComEd is working to help customers transition to clean transportation that will lower emissions and improve air quality in our communities,” said Melissa Washington, chief customer officer at ComEd. “Making the switch to an EV can be a difficult decision, which is why ComEd offers a variety of resources to help make the process of switching as easy as possible. From the EV Track at the Chicago Auto Show to ComEd’s EV Toolkit, we are here to help our customers navigate their EV journey.”

The Chicago Drives Electric Track will offer rides in a variety of EVs, driven by product specialists, on the 1/3-mile-indoor loop. This experience is included as part of general admission to the Chicago Auto Show, and the track will be open for the entire show, from Feb. 11 - 20.

ComEd 2030, the company’s recently announced vision for an equitable transition to a cleaner energy future, sets a 2030 target of ComEd being able to support up to 1.8 million EVs on the road in northern Illinois. Navigating the new electric vehicle market can be intimidating, and ComEd is committed to helping its customers learn about their options in switching from fossil-fuel powered vehicles to EVs to support this transportation transition.

In addition to providing customers the opportunity to test these vehicles firsthand, ComEd has created a one-stop-shop for those considering an EV purchase. The ComEd EV Toolkit offers a variety of interactive features for individuals and organizations considering EVs as well as those who have already bought an EV. Customers can use the EV Toolkit to:

• Calculate Fuel Cost Savings – get a real-time look at your potential fuel cost savings from switching from a gas or diesel vehicle to an EV by plugging in data on your miles driven, current gas prices and more.
• Review Vehicles and Chargers – peruse a list of EV brands and models available for purchase, and if you have the option to install in-home charging, choose a charger that meets your needs.
• Search Incentives – review a list of available state rebates and federal tax credits, and how to qualify for incentives before you buy.
• New EV Owner – find out about service rate options to maximize savings based on the time you charge, and register your EV with ComEd to help ensure your home is EV ready.
• Public Charging Locator – search a map of over 500 public charging stations in the area, and where to charge for free, according to your zip code.
• Fleet Electrification Tips – explore ComEd’s roadmap to fleet electrification, covering everything from vehicle classes to charging models and technology.

For those considering an EV, new zero-emissions vehicles provide a range of consumer savings and benefits. This includes significant savings, due to the efficiency of EV engines and their 100 percent use of electricity instead of gasoline. The savings are even higher when considering avoided operations and maintenance costs over the lifetime of the vehicle.

In addition to saving at the pump, electrifying transportation – including cars and public transit – can also create tangible environmental and health benefits for all communities and families across northern Illinois. In fact, EVs can reduce air pollutants in the areas that would benefit most: diverse and low-income communities. The American Lung Association estimates that conversion to EVs in Illinois could save a cumulative $3.2 billion by 2050.

Additionally, the City of Chicago’s Air Quality and Health Index reports the areas with the worst air quality and health indices are also neighborhoods where people of color make up a higher share of the population, and moreover, these communities are more likely to live close to industrial facilities and busy transit routes, where air pollutant emissions are higher.

Illinois is poised to increase EV adoption considerably in the years ahead, thanks to the passage of state and federal climate action. The Climate and Equitable Jobs Act law, passed in 2021, makes Illinois the first state in the Midwest to set a goal of achieving 100 percent clean energy by 2050. CEJA also sets a goal of adding 1 million EVs to Illinois roads by 2030.

For more information on EVs and to access the toolkit, visit www.comed.com/EV.

​​​

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube.

ComEd
Media Relations
312-394-3500

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

Novata is the premier ESG data management platform for private markets

Ms. Sutphen will provide a valuable viewpoint on ESG from a political and regulatory background

NEW YORK--(BUSINESS WIRE)--Novata, a public benefit corporation and technology platform that provides private markets stakeholders with intuitive and effective Environmental, Social and Governance (ESG) data management solutions, today announced the appointment of Mona Sutphen, Partner and Head of Investment Strategies at The Vistria Group (Vistria), to Novata’s Board of Directors, effective immediately.

Ms. Sutphen has spent over two decades at the intersection of the public and private sectors. Prior to joining Vistria, she was a Partner at global corporate and capital markets firm Macro Advisory Partners and earlier was Managing Director at UBS AG. She served as White House Deputy Chief of Staff for Policy for President Obama, where she advanced the policy and regulatory agenda on a range of domestic and international issues. Earlier in her career, Ms. Sutphen was a diplomat serving on the staff of the National Security Council during the Clinton Administration and the U.S. Mission to the UN, as well as posts in Asia and Europe. Ms. Sutphen serves on the Boards of Spotify, Unitek Learning, and is a Trustee for Putnam Mutual Funds. She is a Trustee of Mount Holyoke College and is a member of the Council on Foreign Relations and serves on the Boards of the International Rescue Committee and Human Rights First.

Backed by a consortium that includes the Ford Foundation, S&P Global (NYSE: SPGI), Hamilton Lane (NASDAQ: HLNE) and Omidyar Network, and with the support of more than a dozen private equity firms and pension funds, Novata is the leading ESG data management platform built specifically for the private markets. The Novata platform provides customers with a clear on-ramp for selecting ESG metrics, painless data collection and data insights and analytics tools to inform investment decisions.

“We are thrilled to welcome Mona to the Novata Board at a critical inflection point for ESG and for the company,” said Alex Friedman, Chief Executive Officer and Co-Founder of Novata. “Together with the other members of the Board, she will provide valuable expertise and leadership as we move full steam ahead towards our collective mission to advance ESG in the private markets.”

Since Novata’s successful platform launch in April, Novata has welcomed a range of private equity and credit firms to the General Partner Advisory Committee (GPAC) and has experienced significant global demand for its ESG data management platform.

“Novata has established itself as an industry innovator and leader in helping private market players understand the ESG implications of their investment activities,” said Ms. Sutphen. “I’m honored to join the Board to bring my experience across government and business to continue to build on the strategic vision and advance the important efforts underway to build a more sustainable and inclusive form of capitalism.”

To learn more about Novata’s platform offerings and to schedule a demo, please see here: https://www.novata.com/

About Novata

Novata is a public benefit corporation that enables the private markets to achieve a more sustainable and inclusive form of capitalism. Novata ESG solutions, technology platform and contributory database simplify the processes of selecting reporting metrics; collecting and storing relevant data; conducting analysis; and reporting to key stakeholders, including limited partners and regulators. Novata, a partnership of the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network, is majority controlled by mission-driven organizations and its employees. For more information, please visit https://www.novata.com/.

Katie Stueber
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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

Vicinity expands service to the Fenway area to offer carbon-free eSteam^TM to support IQHQ’s ESG goals.

BOSTON--(BUSINESS WIRE)--#BOSpoli--Vicinity Energy, a national decarbonization leader with an extensive portfolio of district energy systems across the United States, announced a long-term partnership with IQHQ, Inc., a premier life sciences real estate development company focused on leadership in sustainability. Vicinity will provide eSteam^TM, its new carbon-free, renewable thermal energy offering to IQHQ to rapidly decarbonize IQHQ’s developments in the Fenway neighborhood district.

Under the agreement, IQHQ’s development at 109 Brookline Avenue will use 100% eSteam^TM for heating—making it one of Boston’s first entirely carbon-neutral buildings. The 305,000-square-foot office and laboratory space is part of IQHQ’s FWD district, a growing life science cluster connecting Kenmore Square with the Longwood Medical Academic Area.

IQHQ is also pursuing eSteam^TM at its Fenway Center development, a mixed-use, transit-oriented life science campus located at the western gateway to Boston. Fenway Center will include nearly 1 million square feet of commercial office and lab space built over the Mass Pike, and will become the anchor of IQHQ’s FWD district.

Vicinity will begin delivering carbon-free eSteam^TM in 2024.

“At IQHQ, we have a commitment to developing class-A life science districts that provide our tenant, visitors, and communities at large with healthy, resilient, and responsible spaces,” said Jenny Whitson, Director, Sustainability & ESG for IQHQ. “We are excited to partner with Vicinity Energy to decarbonize the steam serving our projects.”

Vicinity’s expansion into Boston’s Fenway neighborhood marks a significant milestone in Vicinity's Clean Energy Future plans, and paves the way for more building owners and property managers to leverage eSteam^TM for rapid building decarbonization to combat climate change and meet sustainability goals.

Vicinity is the first district energy company in the U.S. to commit to fully decarbonizing its operations, offering renewable thermal energy by installing electric boilers, industrial-scale heat pumps, and thermal storage at its central facilities starting in Boston and Cambridge, with its other districts to follow. eSteam^TM is the nation's first 100% carbon-free renewable energy product, providing a one-stop-shop for Greater Boston businesses and institutions grappling with enforceable emissions performance standards and cities tackling the highest source of emissions.

“We are proud to partner with IQHQ as our first carbon-free eSteam^TM customer to reduce their buildings' carbon emissions and enable IQHQ to achieve their ESG goals while complying with the city’s BERDO 2.0 regulations,” said Bill DiCroce, president and chief executive officer of Vicinity Energy. “This eSteam partnership not only signifies our commitment to a clean energy future, but it also demonstrates the commitment from progressive, innovative industry leaders, like IQHQ, who are committed to lower carbon emissions and to combat climate change.”

Click here to read more about Vicinity’s district energy systems and its commitment to innovation and the environment.

About IQHQ

IQHQ is giving progress a home, empowering the life science community to thrive and succeed by creating and developing districts that inspire innovation and drive progress and growth. IQHQ’s focus is to acquire, develop, and operate sustainable transformational life science districts in the innovation hubs of San Francisco, San Diego, and Boston in the United States, and the United Kingdom. IQHQ has offices in San Diego, Boston and the UK. To learn more, visit iqhqreit.com or follow us on Linkedin or Instagram.

About Vicinity Energy

Vicinity Energy is a clean energy company that owns and operates an extensive portfolio of district energy systems across the United States. Vicinity produces and distributes reliable, clean steam, hot water, and chilled water to over 230 million square feet of building space nationwide. Vicinity continuously invests in its infrastructure and the latest technologies to accelerate the decarbonization of commercial and institutional buildings in city centers. Vicinity is committed to achieving net zero carbon across its portfolio by 2050. To learn more, visit www.vicinityenergy.us or follow us on LinkedIn, Twitter, Instagram, or Facebook.

Vicinity Energy
Sara DeMille
Marketing and Communications
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• 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

The state-of-the-art, highly automated industrial punch press technology for the Gwinner plant is among the first of its kind to be installed in North America

WEST FARGO, N.D.--(BUSINESS WIRE)--Bobcat Company, a global leader in the compact equipment industry, has completed a $9.3 million investment in punch press automation and press technology at its manufacturing facility in Gwinner, N.D. The new press line, which recently began production, is expected to more than double press production capabilities, reduce energy consumption, lower noise levels and improve complex forming for sheet metal parts, all of which will help meet the increasing demand for Bobcat equipment. The company also invested an additional $1.2 million for entrance and building upgrades at the Gwinner location.

"As the home of our original manufacturing facility in North America, we are excited to invest in the facility and add this new automation technology to the Gwinner plant,” said Mike Ballweber, president of Bobcat Company North America. “This investment will provide us with new capabilities and efficiencies in our metal stamping operations, and it also aligns with our commitment to innovation, sustainability and continued investments in our manufacturing footprint.”

Bobcat partnered with AP&T North America, Inc., a leading provider of advanced production solutions, for the fully automated tandem line, which includes design and build of the new 2000 Ton Valveless Servo Hydraulic Lead Press at the Gwinner facility.

“Bobcat is one of the first companies in North America to invest in the future by implementing this automated solution using our new press technology,” said Dr. Christian Koroschetz, chief sales officer of AP&T Group. “This investment also supports Bobcat’s interest in pursuing sustainable, energy-efficient manufacturing solutions.”

The highly automated, closed-looped, valveless servo-hydraulic press is 70 percent more energy efficient than a conventional hydraulic press. The press also provides increased productivity and superior forming capabilities, which enables the pressing of more intricate and complex designed parts, along with shorter cycle times. The press line and automation are smart controlled via internet-based solutions.

Bobcat first became aware of the new press technology through a relationship with Wisconsin-based TCR Integrated Stamping Systems, a leading equipment manufacturer consultant and system provider for the metal forming industry. Bobcat partnered with TCR Integrated Stamping Systems to provide the new press control systems and magnetic quick die changes for all other presses in the tandem line.

“While visiting AP&T in Sweden, I was introduced to their latest automation breakthrough and knew it would provide a significant advancement for Bobcat. This unique solution provided the ability to move parts in excess of 200 pounds very quickly over great distances; it was perfect for them,” said Todd Wenzel, president of TCR. “In addition to the latest automation, AP&T also demonstrated their new valveless, servo hydraulic technology for me. It’s unique capabilities, too, had clear application for the Gwinner facility and is consistent with Bobcat’s sustainability goals.”

The Gwinner manufacturing complex serves as the very first Bobcat production facility, which was established in 1947. Today, the facility covers 780,000 square feet, employs approximately 1,500 employees, and produces Bobcat loaders and utility work machines. The operation continues to grow with about 60 open positions in general production, including assembly, welding, material handling, fabrication, paint, maintenance and machining.

“This investment demonstrates Bobcat’s commitment to our manufacturing footprint in Gwinner and supports our next generation manufacturing capabilities for North America,” said Jim Flynn, vice president of operations at Bobcat Company. “It is another step for us when it comes to automation, robotics, new technologies and advanced data analytics."

The investment in people and technology at Gwinner is part of Bobcat Company’s long-term strategic growth initiatives as a leading equipment manufacturer to support its manufacturing footprint plan.

Media Resources: Images of the installed 2000 Ton Valueless Servo Hydraulic Press are available to download and publish at this Dropbox link. Please click into each photo to see a caption and short descriptor within the “Info” section. Longer captions and descriptions may be found within the Description document in the Dropbox folder.

About Bobcat Company

Since 1958, Bobcat Company has been empowering people to accomplish more. As a leading global manufacturer of compact equipment, Bobcat has a proud legacy of innovation and a reputation based on delivering smart solutions to customers’ toughest challenges. Backed by the support of a worldwide network of independent dealers and distributors, Bobcat offers an extensive line of compact equipment, including loaders, excavators, compact tractors, utility products, telehandlers, mowers, attachments, implements, parts, and services. Headquartered in West Fargo, North Dakota, Bobcat continues to lead the industry, all while helping people succeed and build stronger communities and a better tomorrow.

©2023 Bobcat Company. All rights reserved.

Nadine Erckenbrack, Bobcat Public Relations Manager
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701-205-9207

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
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