• Budderfly’s energy efficiency solutions are installed at three Connecticut facilities and will abate more than 4,800 tons of carbon emissions over the course of the 10-year contract, the equivalent of taking 1,038 gas-powered cars off the roads for one year
• Budderfly is installing a 317kW solar system to maximize Mystic Manor’s energy savings, which is on target to be operational by Q2 2023

SHELTON, Conn.--(BUSINESS WIRE)--#cleanenergy--Budderfly, the premier sustainability partner for businesses with repeatable footprints, today announced that Mystic Manor Healthcare will receive solar panels to provide additional energy savings as part of Budderfly’s holistic, single-vendor solution for outsourced energy management. Budderfly’s solutions will deliver more than 3,400 MWh of energy savings and produce 3,500 MWh of onsite solar energy over the course of Ryders’ 10-year contract. The impact on carbon emissions reduction is the equivalent of taking 1,038 gasoline-powered cars off the roads for a year.

Ryders Health Management is a family-owned management company for independent skilled nursing and rehabilitation centers operating in Connecticut. In 2018, Ryders partnered with Budderfly to install energy efficiency technologies and equipment upgrades and provide ongoing measurement, monitoring, and maintenance for its Mystic Healthcare facility. Noting the positive impact the bright LED lighting and high efficiency HVAC systems had on the mood and comfort of staff and patients, the company decided to install Budderfly at additional facilities during the pandemic, when a boost to morale and enhanced care was especially needed. Budderfly’s program was subsequently rolled out to Ryders’ Lord Chamberlain location in 2020 and Cheshire House location in early 2022, with plans to expand to all seven locations.

Budderfly’s solutions are provided at zero upfront cost to the customer. Budderfly funds the investment in its customers through a share of the energy cost savings generated by efficiency upgrades and the management and monitoring of energy use and demand.

“We’re in the business of keeping people healthy, and that extends to being better stewards of the environment,” said Martin Sbriglio, RN, DHL, and CEO of Ryder’s Health Management. “Partnering with Budderfly allows us to conserve capital expenditures and operating costs so that more funds can be invested in providing the best level of care for our patients.”

The installation of energy efficient LED lights has dramatically improved the occupant experience, while reducing lighting energy usage by more than 50 percent. Having bright lighting in medical facilities that cater to older patients is particularly beneficial as many have failing eyesight. Budderfly LED lighting has a lifespan of 10 years, so staff do not have to worry about unexpected outages or bulb replacements, allowing them to stay focused on more important tasks.

The addition of a 317 kW rooftop solar system at the Mystic facility will drive further reductions in utility energy consumption and improve sustainability outcomes, enabling Ryders to offset 95% of the facility’s annual energy consumption with no-cost, emissions-free power. The solar system is expected to be operational by June 2023.

In light of the pandemic, air quality control has become increasingly important to healthcare facilities. Budderfly specially selected energy efficient HVAC units with an ultraviolent pathogen elimination system for Ryders’ facilities to help reduce the spread of airborne illnesses and improve the quality of care it provides to approximately 700 patients a year. Staff receives real-time alerts when any equipment issues arise, helping to prevent any disruption in operations. In the case of a refrigerator or freezer malfunction, this service feature can prevent significant financial losses in wasted food as well.

“Ryders Health is one of our longest-standing customers and serves as a premier example of the sustainability, cost, and patient experience benefits that outsourced energy management can offer small- to medium-sized businesses,” said Al Subbloie, founder and CEO of Budderfly. “Our mission has always been to provide customers with holistic energy management solutions, and we’re thrilled to mark the addition of solar to our comprehensive offering through our partnership with Ryders Health.”

About Budderfly
Budderfly, ranked as one of the fastest-growing Energy Efficiency as a Service (EEaaS) companies in the United States, is the premier sustainability partner for businesses with repeatable footprints, such as restaurant chains, assisted living facilities, retail franchises, and more. Budderfly installs, monitors, and manages a combination of patented technologies, equipment upgrades, and proprietary energy software for its customers at no out-of-pocket cost. Businesses benefit with lower energy bills, a reduced carbon footprint, more reliable operations, and an improved customer and employee experience. Budderfly ranked #2 in energy companies and #10 overall on the 2021 Inc. 5000 America’s Fastest-Growing Private Companies list. For more information visit www.budderfly.com or follow us on LinkedIn @Budderfly-Inc.

About Ryders Health
Ryders Health Management is a family-owned management company for independent skilled Nursing & Rehabilitation Centers, Home Health Care & Companion Services, and Outpatient Rehabilitation. Ryders provides a full continuum of post-acute care through its eight facilities across Connecticut.

Media
Tori Bentkover
Antenna Group for Budderfly
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HOUSTON--(BUSINESS WIRE)--$PSX--The board of directors of Phillips 66 (NYSE: PSX) has declared a quarterly dividend of $1.05 per share on Phillips 66 common stock, representing an 8% increase. The dividend is payable on March 1, 2023, to shareholders of record as of the close of business on Feb. 21, 2023.

“Rewarding shareholders through a secure, competitive and growing dividend is a priority for Phillips 66,” said Mark Lashier, President and CEO of Phillips 66. “We have increased the dividend 12 times since our inception in 2012, resulting in a 17% compound annual growth rate. This dividend increase and our share repurchase program support our commitment to return $10 billion to $12 billion to shareholders by year-end 2024.”

About Phillips 66

Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.

Jeff Dietert (investors)
832-765-2297
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Owen Simpson (investors)
832-765-2297
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Thaddeus Herrick (media)
855-841-2368
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• White Paper 281 shows how the success of a CIO is rooted in a solid foundation of maintaining resilient, secure, and sustainable IT operations
• DCIM Monitoring Value Calculator for Distributed IT supports the White Paper and provides a simple framework to help users run “what-if” scenarios and quantify the ROI/payback of implementing monitoring software

MISSISSAUGA, Ontario--(BUSINESS WIRE)--Schneider Electric, the leader in digital transformation of energy management and automation, has released White Paper 281, "How Modern DCIM Addresses CIO Management Challenges within Distributed, Hybrid IT Environments” and a supporting TradeOff Tool, both available for immediate use. The new White Paper focuses on Data Center Infrastructure Management (DCIM) software and takes a close look at the rapidly-changing role of the Chief Information Officer (CIO) as IT has taken center stage in the past few years. The document demonstrates how the success of a CIO is ultimately rooted in a solid foundation of maintaining resilient, secure, and sustainable IT operations. In an environment of highly distributed hybrid IT, this goal becomes harder to accomplish.

“Business requirements are forcing CIOs to hybridize their data center and IT portfolio architecture by placing IT capacity in colocation facilities and building out capacity at the local edge – sometimes in a big way,” said author Patrick Donovan, Senior Research Analyst at Schneider Electric’s Energy Management Research Center. “CIOs have always been tasked with managing and maintaining resilient and secure operations, but generally have been focused on core data center sites. Now, on top of having many more distributed sites needing resiliency and security, they are also being asked to report on the sustainability of their IT operations. This marks a real sea change in terms of their responsibilities.”

The need for resiliency, security, and sustainability

In the 16-page paper, Donovan describes the evolution of enterprise IT portfolios and explores the resulting management challenges. He explains how modern DCIM software has evolved and is more optimized for increasingly distributed environments. Distributed IT makes security a top concern along with the need for improved resiliency and tracking and reporting of the IT operation’s environmental impact.

An opportunity to “trade off” various DCIM scenarios with new calculator

A new Schneider Electric TradeOff Tool, the DCIM Monitoring Value Calculator for Distributed IT, supports the White Paper and provides user-selectable inputs and adjustable assumptions to perform “what-if” scenarios to see the ROI/payback of monitoring software. It considers factors like downtime, staffing, security and environmental incidents, and cashflow.

“We wanted to create a useful framework to help customers quantify the potential value of DCIM in their operations and we are excited for them to try our tool,” said TradeOff Tool creator Wendy Torell, Senior Research Analyst at Schneider Electric’s Energy Management Research Center. “We designed it to be user friendly and it easily adapts to the customer’s specific environment and level of maturity.”

Schneider Electric’s Energy Management Resource Center

Donovan, Torell, and fellow members of the Energy Management Resource Center conduct research that helps Schneider Electric and its customers make informed business and technology decisions backed by facts and research. Much of the research is made freely available to the public.

Related resources:

• Schneider Electric DCIM web page
• The DCIM 3.0 trend explained in 500 words
• EcoStruxure IT and DCIM 3.0 in 60 seconds
• EcoStruxure IT: Enabling Resilient, Secure and Sustainable IT Infrastructure

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

www.se.com/ca

Discover Life Is On 
Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog

Discover the newest perspectives shaping sustainability, electricity 4.0, and next generation automation on Schneider Electric Insights

Hashtags: #DCIM #DCIM3 #sustainability #ecostruxureit

Media:
Media Relations - Edelman on behalf of Schneider Electric, Juan Pablo Guerrero
Phone: +1 416 875 7173, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

MIDLAND, Texas--(BUSINESS WIRE)--Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) announced today that it will report fourth quarter and full year 2022 financial and operating results after the market closes for trading on February 22, 2023. Management will host an earnings conference call on February 23, 2023 at 8:00 a.m. Central (9:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (888) 886-7786 (Conference ID: 74862610) at least 15 minutes prior to the start of the call or via the internet at www.permianres.com. A replay of the call will be available on the Company’s website or by phone at (877) 674-7070 (Passcode: 862610) for a 14-day period following the call.

About Permian Resources

Headquartered in Midland, Texas, Permian Resources is an independent oil and natural gas company focused on the responsible acquisition, optimization and development of high-return oil and natural gas properties. The Company’s assets and operations are located in the core of the Delaware Basin. For more information, please visit www.permianres.com.

Hays Mabry
Sr. Director, Investor Relations
(832) 240-3265
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MILPITAS, Calif.--(BUSINESS WIRE)--SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, announced today that it entered into a multi-year agreement with Freedom Forever, a leading U.S. residential solar installer, for the supply of residential smart energy products and solutions.

As part of the multi-year agreement between the companies, Freedom Forever will offer its customers the SolarEdge Home Smart Energy Ecosystem, including the SolarEdge Home Hub Inverter, SolarEdge Power Optimizers, SolarEdge Home Battery, Backup Interface, Smart Energy Devices such as the SolarEdge EV Charger and Load Controllers.

Brett Bouchy, CEO of Freedom Forever, said: “As the nation’s largest residential installer, it is imperative that we align with world-class organizations like SolarEdge as we embark on our goal to become the first company to install a gigawatt of residential solar in a 12-month period.”

“Electricity costs, recent weather events, and new regulations, like the California’s Net Energy Metering 3.0, are bringing solar and battery solutions to the forefront”, said Zvi Lando, Chief Executive Officer of SolarEdge. “We are proud to enter this strategic cooperation with Freedom Forever to provide smarter, more efficient, and more powerful solar and battery solutions to homes across the United States.”

About SolarEdge

SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions. Visit us at: solaredge.com

About Freedom Forever

Freedom Forever and its family of companies focuses on residential solar installations that deliver best-in-class Engineering, Procurement, and Construction for its dealer network. Since 2011, Freedom Forever has enabled its dealer network to succeed with a premium offering and aggressive pricing flexibility. Freedom Forever's 25-year production guarantee provides the ultimate peace-of-mind for homeowners reluctant to make a big investment when purchasing their solar systems. With Freedom Forever, homeowners know what they're getting every time. For more information, please visit https://freedomforever.com.

SolarEdge Technologies, Inc.
Lily Salkin Global Public and Media Relations Manager
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+972-522028240

SolarEdge Technologies, Inc.
Dana Noyman Head of Corporate Communications and Global PR
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+972 54 999 8809

Call for startup proposals, now open

LAVAL, Québec--(BUSINESS WIRE)--We are pleased to announce that the 3^rd edition of Sweet Biopharma Day will be held, in person, on April 12, 2023. This unique, by invitation-only event invites young Canadian biotechs to submit an application for a chance to present in front of key global biopharma companies, as well as leading Canadian life sciences ecosystem’s stakeholders (such as venture capitalists and representatives from governments and associations). The intent is to develop potential collaborations or partnerships.

Are you a biotechnology start-up or company with fewer than 25 employees and focused on innovative research and development? Do you have a strong commercial potential? You can apply for the chance to be among the 16 promising Canadian biotech companies, the “Sweet 16”, who will be invited to present in front of key biopharmaceutical industry stakeholders on April 12^th.

How to apply: Companies must provide a 2-page executive summary and a short presentation (one set of no more than 5 slides) describing their cutting-edge technology, target indications, and points of differentiation. Application packages must be submitted via this form no later than Wednesday, March 8, 2023, at 11:59 p.m. EDT. The pharmaceutical companies taking part will select the 16 participating companies, who will be notified no later than March 29, 2023.

This event is the perfect opportunity for promising companies to network. The “Sweet 16” company with the best presentation will be awarded a $2,500 prize at the end of the event, a ‘’Prix Coup de Coeur’’ will also be awarded.

The Sweet Biopharma Day is generously financially supported by its Gold sponsor, Fonds de solidarité FTQ, its Silver sponsors, Innovative Medicines Canada, adMare BioInnovations, RBCx, Investissement Québec, Robic and Mispro Biotech Services, its Bronze sponsors Inversago, Amorchem, CTI Fonds Sciences de la vie, Thermo Fisher Scientific and Agilent, and Maple sponsors RBCx and Sciex.

About Sweet Biopharma Day

The Sweet Biopharma Day is a Canadian life sciences by invitation-only event. Its third edition is being organized by BIOQuébec, CQDM, Fonds de solidarité FTQ and adMare BioInnovations. It provides executives from young biotech companies with a unique opportunity to directly interact with international pharmaceutical companies and key venture capital firms to develop synergistic partnerships.

Visit Sweet Biopharma Day website HERE. 

Media Contact:
Gaëlle Bridon, BIOQuébec, T: 001-438-520-4700, This email address is being protected from spambots. You need JavaScript enabled to view it.

LOS ANGELES--(BUSINESS WIRE)--#Environment--Unibail-Rodamco-Westfield (URW) announced today that the recently completed expansion at Westfield Topanga in Los Angeles has been awarded LEED Platinum by the U.S. Green Building Council (USGBC).

Geoff Mason, Executive Vice President, Operating Management and Development at URW said: “We put sustainability at the core of our business, with the goal of increasing our positive environmental, social, and economic impact in the local community and beyond through the delivery of world-class destinations. As URW’s first U.S. retail development to achieve LEED Platinum certification, the Westfield Topanga expansion is setting the standard for which we will strive with all our future projects.”

To achieve LEED Platinum, the Westfield Topanga expansion implemented practical and measurable solutions in areas including sustainable site development, water use reduction and optimized energy performance, including on-site renewable energy and the use of green power. Other sustainability initiatives at the center include the installation of a fully operational 15,000 solar panel array in 2018 – the largest at any shopping center or retail destination at the time in California. Topanga also employs interior and exterior LED lighting, skylight tinting, electric vehicle charging stations, chilled water coils, as well as efficient lighting and chiller control systems.

Peter Templeton, President and CEO at USGBC said: “Westfield Topanga’s LEED certification demonstrates tremendous green building leadership. LEED was created to make the world a better place and revolutionize our buildings and communities by providing everyone with access to healthy, green, and high-performing buildings. The expansion at Westfield Topanga is a prime example of how the innovative work of project teams can create local solutions that contribute to making a global difference.”

The expansion at Westfield Topanga is a combined 180,000-square-feet of indoor and outdoor space creatively reimagined out of former department store space once occupied by Sears. Underpinned by a cutting-edge design, the new district includes Topanga Social, a chef-driven food hall; an AMC DINE-IN theatre; an expanded luxury fashion collection anchored by new Hermès, Dior, and Valentino boutiques; a nearly 21,000-square-foot Arhaus offering artisan-crafted home furnishings and décor; and Pinstripes, an experiential dining and entertainment concept.

The development underscores URW’s commitment to create a one-of-a-kind landmark destination and economic engine for the San Fernando Valley community.

About Unibail-Rodamco-Westfield

Unibail-Rodamco-Westfield is an owner, developer and operator of sustainable, high-quality real estate assets in the most dynamic cities in Europe and the United States.

The Group operates 78 shopping centres in 12 countries, including 45 which carry the iconic Westfield brand. These centres attract over 900 million visits annually and provide a unique platform for retailers and brands to connect with consumers. URW also has a portfolio of high-quality offices, 10 convention and exhibition venues in Paris, and a €3 Bn development pipeline of mainly mixed-use assets. Currently, its €52 Bn portfolio is 87% in retail, 6% in offices, 5% in convention and exhibition venues, and 2% in services (as at December 31, 2022).

URW is a committed partner to major cities on urban regeneration projects, through both mixed-use development and the retrofitting of buildings to industry-leading sustainability standards. These commitments are enhanced by the Group’s Better Places 2030 agenda, which strives to make a positive environmental, social and economic impact on the cities and communities where URW operates.

URW’s stapled shares are listed on Euronext Amsterdam and Euronext Paris (Ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from a BBB+ rating from Standard & Poor’s and from a Baa2 rating from Moody’s.

For more information, please visit www.urw.com.

About the U.S. Green Building Council

The U.S. Green Building Council (USGBC) is committed to a healthy, resilient and equitable future for all through the development of green buildings, cities and communities. For more than 20 years, USGBC has been advancing green building practices through the development of LEED, the world’s most widely used green building program. With the support of thousands of members, volunteers and partners, USGBC provides robust green building education courses, a rigorous professional credentialing program, and advocates for effective public policies. It convenes an international network of green building and sustainability leaders through the annual Greenbuild International Conference & Expo, and forward thinking programs, including the Center for Green Schools. For more information, visit usgbc.org and connect on Twitter, Facebook, Instagram and LinkedIn

Robyn Cottelli
929.254.8309
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Dividend Represents 5% Growth Year-over-Year

BETHESDA, Md.--(BUSINESS WIRE)--Enviva Inc. (NYSE: EVA) (“Enviva,” “we,” “us,” or “our”) today announced that the board of directors declared a quarterly dividend of $0.905 per common share for the fourth quarter of 2022. The fourth quarter of 2022 dividend represents a 5.2% increase from the fourth quarter of 2021. The quarterly dividend will be paid on Friday, February 24, 2023, to shareholders of record as of the close of business Tuesday, February 21, 2023. Including this dividend, Enviva has declared dividends in the aggregate of $3.62 per common share for full-year 2022, which represents an increase of 9.7% over 2021.

“Enviva is a growth company with a robust contracted revenue backlog and a large pipeline of new, high-quality customers around the globe,” said Thomas Meth, President and Chief Executive Officer. “As we execute our strategic plan, our goal is to achieve new levels of durable cash flow, and the continued market tailwinds we are experiencing provide us tremendous confidence in our ability to deliver on our long-term growth objectives.”

About Enviva

Enviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11^th plant in Epes, Alabama. Enviva is planning to commence construction of its 12^th plant, near Bond, Mississippi, in 2023. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with primarily creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to decarbonize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuels. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.

To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.

Cautionary Note Concerning Forward-Looking Statements

The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding Enviva’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans, and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms, and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Enviva disclaims any duty to revise or 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 hereof. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Enviva. These risks include, but are not limited to: (i) the volume and quality of products that we are able to produce or source and sell; (ii) the prices at which we are able to sell or source our products; (iii) failure of our customers, vendors, and shipping partners to pay or perform their contractual obligations to us; (iv) our inability to successfully execute our project development, capacity, expansion, and new facility construction activities on time and within budget; (v) the creditworthiness of our contract counterparties; (vi) the amount of low-cost wood fiber that we are able to procure and process; (vii) changes in the price and availability of natural gas, coal, or other sources of energy; (viii) changes in prevailing economic and market conditions; (ix) inclement or hazardous environmental conditions, including extreme precipitation, temperatures, and flooding; (x) fires, explosions, or other accidents; (xi) changes in domestic and foreign laws and regulations (or the interpretation thereof) related to renewable or low-carbon energy, the forestry products industry, the international shipping industry, or power, heat, or combined heat and power generators; (xii) changes in domestic and foreign tax laws and regulations affecting the taxation of our business and investors; (xiii) changes in the regulatory treatment of biomass in core and emerging markets; (xiv) our inability to acquire or maintain necessary permits or rights for our production, transportation, or terminaling operations; (xv) changes in the price and availability of transportation; (xvi) changes in foreign currency exchange or interest rates, and the failure of our hedging arrangements to effectively reduce our exposure to related risks; (xvii) risks related to our indebtedness, including the levels and maturity date of such indebtedness; (xviii) our failure to maintain effective quality control systems at our wood pellet production plants and deep-water marine terminals, which could lead to the rejection of our products by our customers; (xix) changes in the quality specifications for our products that are required by our customers; (xx) labor disputes, unionization, or similar collective actions; (xxi) our inability to hire, train, or retain qualified personnel to manage and operate our business and newly acquired assets; (xxii) the possibility of cyber and malware attacks; (xxiii) our inability to borrow funds and access capital markets; (xxiv) viral contagions or pandemic diseases, such as COVID-19; (xxv) changes to our leadership and management team; and (xxvi) overall domestic and global political and economic conditions, including the imposition of tariffs or trade or other economic sanctions, political instability or armed conflict, including the ongoing conflict in Ukraine, rising inflation levels and government efforts to reduce inflation, or a prolonged recession.

Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Enviva’s expectations and projections can be found in Enviva’s periodic filings with the SEC. Enviva’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

INVESTOR CONTACT:
Kate Walsh
Vice President, Investor Relations
+1 240-482-3856
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TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB):

February 2023 Cash Dividend - $0.06 per share

Superior Plus Corp. (“Superior”) today announced its cash dividend for the month of February 2023 of $0.06 per share payable on March 15, 2023. The record date is February 28, 2023 and the ex-dividend date will be February 27, 2023. Superior’s annualized cash dividend rate is currently $0.72 per share. This dividend is an eligible dividend for Canadian income tax purposes.

Move to Quarterly Dividend Payments

As previously communicated and subject to approval of future common share dividends by the Board of Directors, Superior intends to move from its current practice of paying monthly dividends to a quarterly common share dividend payment, following the monthly March 2023 dividend to be paid in April 2023. Quarterly dividend payments are expected to be made on the last business day of March, June, September and December to shareholders of record on the 10th day of the corresponding month, if, as and when declared by the Board of Directors. Should the record date fall on a weekend or on a statutory holiday, the record date will be the next succeeding business day following the weekend or statutory holiday. Subject to approval by the Board of Directors, the first quarterly dividend is expected to be paid in June 2023.

2022 Fourth Quarter and Year-End Results and Conference Call

Superior expects to release its 2022 fourth quarter and year-end after the close of North American markets on Thursday February 16, 2023. A conference call and webcast to discuss the 2022 fourth quarter and full year financial results will be held at 10:30 AM EDT on Friday February 17, 2023. To listen to the live webcast, please use the following link: Register Here. The webcast will be available for replay on Superior's website at: www.superiorplus.com under the Events section.

About the Corporation

Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing approximately 890,000 customer locations in the U.S. and Canada.

For further information about Superior, please visit Superior’s website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Capital Markets, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll-Free: 1-866-490-PLUS (7587).

Forward-Looking Information
This news release contains certain forward-looking information and statements based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, "expects", "annualized", and similar expressions.

In particular, this news release contains forward-looking statements and information relating to: future dividends, which may be declared on Superior’s common shares; the timing and the amount of such dividend payments; and the expected tax treatment thereof. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms promptly. These forward-looking statements are not guarantees of future performance and are subject to several known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2021, which can be found at www.sedar.com.

Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.

Beth Summers, Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
or
Rob Dorran, Vice President, Capital Markets
Tel: (416) 340-6003
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HOUSTON--(BUSINESS WIRE)--#energyexploration--Geospace Technologies Corporation (NASDAQ: GEOS) (the “Company”) today announced results for its first quarter ended December 2022. For the three-months ended December 31, 2022, Geospace reported revenue of $31.1 million compared to revenue of $18.0 million for the comparable year-ago quarter. Net loss for the three-months ended December 31, 2022 narrowed to $0.1 million, or $(0.01) per diluted share, compared to a net loss of $6.8 million, or ($0.52) per diluted share, for the quarter ended December 31, 2021.

The revenue reported for the first quarter marks the highest quarterly revenue the Company has recorded since 2014. This increase in revenue was driven largely by the Company’s Oil and Gas business segment which made up 65% of the quarter’s revenue.

Management’s Comments

Walter R. (“Rick”) Wheeler, President and CEO of the Company said, “We’re pleased to see that revenue for our first quarter of fiscal year 2023 exceeded $31 million. This is an increase of 73% over last year’s same period and represents the Company’s highest amount of quarterly revenue in the last eight-and-half years, namely since June of 2014. In addition, gross profits for the quarter reached a three year high of $10.5 million, leading to a narrow loss of a penny per share. This first quarter result puts forth a strong beginning to the fiscal year and aligns well with our commitment to achieve future profitability through streamlining our operations, reducing operating costs, and increasing revenue in each of our business segments. The majority of first quarter revenue came from our Oil & Gas segment, led by wireless seismic products. Although a sale of GSX land equipment from our rental fleet was a contributing factor, our OBX ocean bottom nodes generated the largest portion of wireless seismic revenue. The majority of this revenue came from executed OBX rental contracts. However, it’s worth noting that a significant portion of that revenue was the result of a compensatory purchase of OBX equipment that was lost by a rental customer during a survey. We intend to build out additional OBX nodes to replenish this lost equipment in the rental fleet. Demand for both the deep-water and shallow-water OBX models continues to strengthen, and many of our existing customers have stated an intention to move their crews into follow-on client contracts after existing surveys are complete. Given an increasing number of shallow water surveys being put out for bid, interest in using our new Mariner nodal technology is also growing significantly.

Our strategic diversification efforts continue to bear fruit as evidenced by the performance of our Adjacent Markets segment. First quarter revenue from these products came within 1% of our all-time record set in last year’s third quarter, supporting our move toward profitability. Our market position for the manufacture and supply of ruggedized water meter connector cabling continues to climb. To maintain this superior position, we work closely with trusted water meter companies to meet the “design-in” specifications of their domestic municipality customers. The breadth of discussions taking place with these partners for specialty cables as well as the Aquana smart valve products gives us confidence in our future growth in this market.

More recently, after the first quarter closed, our Quantum Technology Sciences subsidiary entered a new contract with an undisclosed federal government contractor. Although the initial dollar amount is modest, the contract holds strategic significance and future potential for an application unrelated to border security. In conjunction with ongoing discussions surrounding other unique applications of Quantum’s analytics technology, we believe the outlook for projects in our Emerging Markets segment is expanding.

In keeping with our plans for streamlining operations and reducing costs, we anticipate completing the sale of our satellite Houston facility within the next quarter. This facility currently houses our OBX rental operations which we are in the process of consolidating into our main campus location. Following the end of the quarter, we sold obsolete equipment to accommodate this consolidation."

Oil and Gas Markets Segment

Revenue from the Company’s Oil and Gas Markets segment totaled $20.1 million for the three months ended December 31, 2022. This compares to $9.7 million in revenue, an increase of 109%, over the same period a year ago.

Traditional Exploration Products revenue totaled $2.8 million for the three-month period ended December 31, 2022. This compares to $0.6 million in revenue during the same period a year ago. The increase in revenue is due to higher demand for seismic sensor and marine products. In part, traditional seismic sales are up over the prior year period as the Company fulfills a long-term sensor sales order for an international company. Additionally, the on-going conflict between Russia and the Ukraine has led to extensive sanctions against Russia, which has resulted in a modest increase in domestic sales in that region.

Wireless Seismic Exploration Products revenue totaled $17.2 million for the three-month period ended December 31, 2022. This is a 98% increase when compared to the same year ago period. The first quarter increase is due to higher rental revenue from higher utilization of our OBX rental fleet and higher marine wireless product revenue resulting from a rental equipment customer contractually obligated to provide compensation for lost OBX nodes.

Adjacent Markets Segment

Revenue from the Company’s Adjacent Markets segment totaled $10.9 million for the three-month period ended December 31, 2022, compared to $8.2 million in the year ago period, representing an increase of 32%. The increase in revenue is the result of higher demand for the Company’s smart water meter cable and connector products.

Emerging Markets

The Company’s Emerging Markets segment generated revenue of $0.09 million for the three-month period ended December 31, 2022, compared to $0.1 million for the similar three-month period of the previous year. The quarter’s revenue is attributed to the Company’s on-going contract with U.S. Customs and Border Protection. Efforts to expand this segment’s SADAR passive seismic monitoring products into new markets is generating growing interest and should lead to orders materializing within fiscal year 2023.

Balance Sheet and Liquidity

For the three-month period ended December 31, 2022, the Company used $4.9 million in cash and cash equivalents in operating activities. The Company generated $0.2 million in cash from investing activities that included $0.6 million in proceeds from the sale of rental equipment, offset by $0.4 million of cash invested in rental equipment and property, plant and equipment. As of December 31, 2022, the Company had $12.3 million in cash, cash equivalents and short-term investments, and maintained additional borrowing availability of $8.5 million under its bank credit agreement with no borrowings outstanding. Thus, as of December 31, 2022, the Company’s total liquidity was $20.8 million. The Company additionally owns unencumbered property and real estate in both domestic and international locations. In fiscal year 2023, management anticipates a capital expenditure budget of $7.3 million, including $6.0 million earmarked for additions to its rental equipment. Additions to our rental fleet will only occur when warranted by market conditions and financial commitments are made by customers.

Conference Call Information

The Company will host a conference call to review its first quarter fiscal year 2023 financial results on February 9, 2022, at 10:00 a.m. Eastern Time (9:00 a.m. Central Time). Participants can access the call at (800) 274-8461 (US) or (203) 518-9843 (International). Please reference the conference ID: GEOSQ123 prior to the start of the conference call. A replay will be available for approximately 60 days and may be accessed through the Investor Relations tab of the Company’s website at www.geospace.com.

About Geospace Technologies

Geospace Technologies is a global technology and instrumentation manufacturer specializing in vibration sensing and highly ruggedized products which serve energy, industrial, government and commercial customers worldwide. The Company’s products blend engineering expertise with advanced analytic software to optimize energy exploration, enhance national and homeland security, empower water utility and property managers, and streamline electronic printing solutions. With more than four decades of excellence, the Company’s more than 600 employees across the world are dedicated to engineering and technical quality. Geospace is traded on the U.S. NASDAQ stock exchange as GEOS. For more information, visit www.geospace.com.

Forward Looking Statements

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as “may”, “will”, “should”, “could”, “intend”, “expect”, “plan”, “budget”, “forecast”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue”, “evaluating” or similar words. Statements that contain these words should be read carefully because they discuss future expectations, contain projections of our future results of operations or of our financial position or state other forward-looking information. Examples of forward- looking statements include, statements regarding our expected operating results, the timing, adoption, results and success of our rollout of our Aquana smart water valves and cloud based control platform, future demand for our Quantum security solutions the adoption and sale of products in various geographic regions, potential tenders for permanent reservoir monitoring (PRM) systems, future demand for OBX rental equipment, the adoption of Quantum’s SADAR® product monitoring of subsurface reservoirs, the completion of new orders for channels of our GCL system, the fulfillment of customer payment obligations, the impact of and the recovery from the impact of the coronavirus (COVID-19) pandemic, our ability to manage changes and the continued health or availability of management personnel, the impact of the current armed conflict between Russia and Ukraine, volatility and direction of oil prices, anticipated levels of capital expenditures and the sources of funding therefor, and our strategy for growth, product development, market position, financial results and the provision of accounting reserves. These forward-looking statements reflect our current judgment about future events and trends based on currently available information. However, there will likely be events in the future that we are not able to predict or control. The factors listed under the caption “Risk Factors” in our most recent Annual Report on Form 10-K which is on file with the Securities and Exchange Commission, as well as other cautionary language in such Annual Report, any subsequent Quarterly Report on Form 10- Q, or in our other periodic reports, provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. Such examples include, but are not limited to, the failure of the Quantum or OptoSeis® or Aquana technology transactions to yield positive operating results, decreases in commodity price levels, the continued adverse impact of COVID-19, which could reduce demand for our products, the failure of our products to achieve market acceptance (despite substantial investment by us), our sensitivity to short term backlog, delayed or cancelled customer orders, product obsolescence resulting from poor industry conditions or new technologies, bad debt write-offs associated with customer accounts, inability to collect on promissory notes, lack of further orders for our OBX systems, failure of our Quantum products to be adopted by the border and security perimeter market or a decrease in such market due to governmental changes, and infringement or failure to protect intellectual property. The occurrence of the events described in these risk factors and elsewhere in our most recent Annual Report on Form 10-K or in our other periodic reports could have a material adverse effect on our business, results of operations and financial position, and actual events and results of operations may vary materially from our current expectations. We assume no obligation to revise or update any forward- looking statement, whether written or oral, that we may make from time to time, whether as a result of new information, future developments or otherwise, except as required by applicable securities laws and regulations.

Caroline Kempf, This email address is being protected from spambots. You need JavaScript enabled to view it. 321.341.9305

New solar and wind power purchases, energy efficiency investments, and green building construction among eligible bond allocations to support sustainable business

PHILADELPHIA--(BUSINESS WIRE)--Comcast today announced the issuance of a $1 billion 10-year green bond, offering investors the opportunity to support environmental efforts such as those currently underway or under consideration as part of Comcast’s goal to be carbon neutral by 2035.

Proceeds from the green bond may be allocated to five investment areas, all of which contribute to Comcast's efforts to reduce its carbon footprint, including renewable energy, energy efficiency, green buildings, campuses, communities and cities, clean transportation, and circular economy adapted products, production technologies and processes. Comcast’s Green Financing Framework provides details on eligible green investments in these categories, in addition to the processes for project selection and progress reporting.

"We’re excited to have offered investors the opportunity to join us as we scale clean energy technologies and other decarbonization strategies across our business,” said Sara Cronenwett, Senior Vice President of Corporate Strategy and Environmental Sustainability at Comcast. “These investments bring great value to the broader community of Comcast shareholders, employees, and customers by helping to foster a cleaner, healthier environment.”

As part of its goal to be carbon neutral by 2035, Comcast’s environmental efforts have included:

• Reducing Scope 1 and 2 emissions 31% since 2019.
• More than doubling the use of renewable electricity from 2020 to 2021.
• Decreasing Comcast Cable’s energy per consumed terabyte nearly 30% from 2019 to 2021.
• Piloting electric and hybrid vehicles in select locations, including debuting the first four electric trams in the Universal Studios Hollywood fleet.
• Increasing the number of green buildings it owns or occupies, including the LEED Platinum Comcast Technology Center.

Comcast worked with S&P Global Ratings to obtain an independent second party opinion on the Green Financing Framework, which concluded the framework is aligned with the ICMA Green Bond Principles (2021) and LMA/LSTA/APLMA Green Loan Principles (2021).

“We’re pleased that our inaugural green bond offering was largely led and underwritten by four nationally recognized minority-, women-, and service-disabled veteran-owned investment banking firms with whom Comcast has a strong historical relationship,” said Jason Armstrong, Chief Financial Officer and Treasurer for Comcast Corporation. “We value the role these firms play and are delighted to have partnered with them on such an important transaction for Comcast.”

BofA Securities, Inc. was sole Green Structuring Agent, an Active Bookrunner, and a Coordinator for the minority- and women-owned broker-dealers on the transaction. Also leading the green bond as active bookrunners were service-disabled veteran-owned Academy Securities, Inc., African-American-owned Loop Capital Markets LLC, Hispanic-owned Samuel A. Ramirez & Company, Inc., and African-American- and women-owned Siebert Williams Shank & Co., LLC. All 10 co-managers on the transaction were diversity firms.

“The strong response from investors to Comcast’s inaugural green bond offering highlights the market’s positive view of the company and appetite for this type of security structure,” said Andrew Karp, head of Global Sustainable Banking Solutions Group at BofA Securities, Inc.

For more information on Comcast’s environmental efforts, visit the environment page at www.comcastcorporation.com.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information.

Forward-Looking Statements

This press release includes statements that may constitute forward-looking statements. In evaluating these statements, you should consider various factors, including the risks and uncertainties we describe in the “Risk Factors” section of our most recent Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission (“SEC”). Factors that could cause our actual results to differ materially from these forward-looking statements include changes in and/or risks associated with: the competitive environment; consumer behavior; the advertising market; programming costs; consumer acceptance of our content; key distribution and/or licensing agreements; use and protection of our intellectual property; our reliance on third-party hardware, software and operational support; keeping pace with technological developments; cyber attacks, security breaches or technology disruptions; weak economic conditions; acquisitions and strategic initiatives; operating businesses internationally; natural disasters, severe weather-related and other uncontrollable events; loss of key personnel; laws and regulations; adverse decisions in litigation or governmental investigations; labor disputes; and other risks described from time to time in reports and other documents we file with the SEC. There are also certain risks and challenges we may face in meeting our environmental goals that are beyond our control, including political, economic, regulatory and geopolitical conditions, the evolution of carbon offset markets, limited large-scale investments and innovations in technology and infrastructure, and supply chain and labor issues. The inclusion of forward-looking statements that may address our corporate responsibility initiatives, progress, plans and goals in this press release is not an indication that they are necessarily material to investors or required to be disclosed in our filings with the SEC. Such statements may contain estimates, make assumptions based on developing standards that may change and provide aspirations and commitments that are not intended to be promises or guarantees. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made, and involve risks and uncertainties that could cause actual events or our actual results to differ materially from those expressed in any such forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise.

Press contacts:
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Concho County community members joined Avantus to celebrate the more than 250 workers responsible for the project and its benefits to the local economy

AUSTIN, Texas--(BUSINESS WIRE)--Today, Avantus (formerly 8minute), a leader in low-cost clean energy, celebrated the groundbreaking and continued development of the Galloway 2 Solar Project in Concho County, Texas. Community and industry leaders heard from local business leaders and solar workers about the economic benefits the project has brought to the community, as well as its lasting impact.

Galloway 2 is creating over 250 peak construction jobs and will generate more than $18 million in local property taxes, supporting essential local services, like education, the county hospital, and public safety. More than half of this funding will directly benefit the Paint Rock School District, which is located less than five miles from the project. Once completed, the project will serve as a dedicated 147 MWdc / 110 MWac resource for Texas’ energy grid, generating enough low-cost clean electricity to provide power for 60,000 Texans.

“Texas leads the nation in energy production, so it’s no surprise the Lone Star State is leading the charge in building out massive amounts of clean energy. Today, solar is not only one of the lowest cost forms of electricity generation, but also one of the fastest growing workforces in America. Here in Texas, we are creating lifelong careers in clean energy that can sustain generations to come,” said Dr. Tom Buttgenbach, Founder and CEO of Avantus. “Avantus is committed to helping Texas reach its potential by bringing in more projects like Galloway 2 to provide low-cost, reliable energy, high-quality jobs, and incredible benefits to local communities like Paint Rock and Concho County.”

At the groundbreaking ceremony, attendees toured the construction site. Initial work began at the site in the summer of 2022 and is currently at peak construction. The project is expected to come online before the end of the year.

“Galloway 2 has been such a great addition to our local economy here in Paint Rock,” said Paint Rock Mayor Francis Maupin. “Our town is busier than ever, and the tax revenue will help create real benefits for our school and community for years to come.”

“The Galloway 2 project helps cement Texas’ status as a leader in energy, bringing local jobs, and strengthening our area industries,” said Representative Drew Darby. “We are grateful to Avantus for their partnership, vision, and commitment to our state, and look forward to the many economic benefits Galloway 2 will provide to Concho County and West Texas.”

The majority of the project’s energy is committed to BASF Corporation, who is purchasing renewables to offset the energy demand at its Freeport, Texas site. The Galloway 2 project is owned by Allianz Capital Partners, with Avantus maintaining a minority stake in the project. RES is providing the Engineering, Procurement, and Construction services.

This is Avantus’ second utility-scale project development in the Paint Rock area, with many workers returning to support Galloway 2. Together, these two projects are providing tens of millions of dollars in local tax revenues to the County, spanning the next few decades.

Driven by Avantus’ growing team in Austin and commitment to Texas, the company has already brought 600 MWdc of solar energy online with more than four gigawatts (GW) of solar and 12 gigawatt-hours (GWh) of energy storage under development across the state. The company’s portfolio will continue to bolster the Lone Star State’s energy industry and deliver critical economic benefits across local communities. Avantus’ pipeline of solar and energy storage spans more than 90 utility-scale projects across Texas and the Southwest, representing over $70 billion in investments and large enough to provide reliable, low-cost power for more than 30 million people, day and night.

ABOUT AVANTUS

Avantus is shaping the future by making reliable, low-cost clean energy a global reality. Our legacy of leadership in next generation solar energy includes developing the nation’s largest solar cluster and the first plant to beat fossil fuel prices back in 2016. Today, we are expanding the boundaries of existing technologies to build one of the largest portfolios of smart power plants with integrated storage, capable of providing 30 million people with affordable, zero-emission energy – day and night. Through our relentless pursuit of better, we are decarbonizing our planet at the gigaton level, and bringing the advantages of clean energy to all of us.

For more information, please visit www.avantus.com, and follow Avantus on Twitter and LinkedIn.

Avantus
Katie Struble
Director, Corporate Communications
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KILGORE, Texas--(BUSINESS WIRE)--Martin Midstream Partners L.P. (NASDAQ: MMLP) (“MMLP” or the “Partnership”) plans to release its financial results for the fourth quarter and full-year ended December 31, 2022 and issue 2023 financial guidance after the market closes on February 15, 2023.

An investors’ conference call to review the fourth quarter and full-year results, along with 2023 financial guidance will be held the following day.

Date: Thursday, February 16, 2023

Time: 8:00 a.m. CT (please dial in by 7:55 a.m.)

Dial In #: (888) 330-2384

Conference ID: 8536096

Replay Dial In # (800) 770-2030 – Conference ID: 8536096

A webcast of the conference call will also be available by visiting the Events and Presentations section under Investor Relations on our website at www.MMLP.com.

During the conference call, management will discuss certain non-generally accepted accounting principle financial measures for which reconciliations to the most directly comparable GAAP financial measures will be provided in Martin Midstream Partners’ announcement concerning its financial results for the quarter ended December 31, 2022, along with an archive of the replay.

About Martin Midstream Partners

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

MMLP-F

Sharon Taylor
Chief Financial Officer
(877) 256-6644
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HOUSTON--(BUSINESS WIRE)--Waste Management, Inc. (NYSE: WM) (“WM” or the “Company”) today announced that it has priced a public offering of $1,250,000,000 aggregate principal amount of senior notes under an effective shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”), as follows:

• $750,000,000 aggregate principal amount of 4.625% senior notes due February 15, 2030; and
• $500,000,000 aggregate principal amount of 4.625% senior notes due February 15, 2033.

The notes will be fully and unconditionally guaranteed by the Company’s wholly owned subsidiary, Waste Management Holdings, Inc. The notes have been assigned ratings of A- by Standard & Poor’s, BBB+ by Fitch and Baa1 by Moody’s.

The offering is expected to close on February 15, 2023, subject to the satisfaction of closing conditions. The Company intends to use the net proceeds from the offering (i) to repay borrowings under its commercial paper program used for working capital, which is fully supported by the Company’s $3.5 billion revolving credit facility, (ii) to repay $500 million aggregate principal amount of its outstanding 2.40% Senior Notes when they mature in May 2023 and (iii) for general corporate purposes.

J.P. Morgan Securities LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., Wells Fargo Securities, LLC, Barclays Capital Inc., BofA Securities, Inc., Deutsche Bank Securities Inc., RBC Capital Markets, LLC and Scotia Capital (USA) Inc. are acting as joint book-running managers of the offering. In addition, BNP Paribas Securities Corp., MUFG Securities Americas Inc., Truist Securities, Inc., U.S. Bancorp Investments, Inc., Academy Securities, Inc., Loop Capital Markets LLC, MFR Securities, Inc., Mischler Financial Group, Inc. and Siebert Williams Shank & Co., LLC are acting as co-managers of the offering. Copies of the final prospectus supplement and related prospectus for this offering may be obtained by visiting EDGAR on the SEC website at www.sec.gov or, upon request, from any of the joint book-running managers at: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, by mail: 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, or by telephone at 1-866-803-9204; Mizuho Securities USA LLC, by mail: 1271 Avenue of the Americas, New York, NY 10020, Attn: Debt Capital Markets or by phone at 1-866-271-7403; SMBC Nikko Securities America, Inc., by mail: 277 Park Avenue, New York, NY 10172, Attn: Debt Capital Markets, by phone at 1-888-868-6856 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; or Wells Fargo Securities, LLC, by mail: 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, by phone at 1-800-645-3751 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes described herein, nor shall there be any sale of these notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The notes will be offered only by means of a prospectus, including the prospectus supplement relating to the notes, and any free writing prospectus prepared by or on behalf of us, each of which meeting the requirements of Section 10 of the Securities Act of 1933, as amended. A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time. Each credit rating should be evaluated independently of any other credit rating.

ABOUT WM

WM is North America's largest comprehensive waste management environmental solutions provider. Previously known as Waste Management and based in Houston, Texas, WM is driven by commitments to put people first and achieve success with integrity. The Company, through its subsidiaries, provides collection, recycling and disposal services to millions of residential, commercial, industrial and municipal customers throughout the U.S. and Canada. With innovative infrastructure and capabilities in recycling, organics and renewable energy, WM provides environmental solutions to and collaborates with its customers in helping them achieve their sustainability goals. WM has the largest disposal network and collection fleet in North America, is the largest recycler of post-consumer materials and is the leader in beneficial reuse of landfill gas, with a growing network of renewable natural gas plants and the most gas-to-electricity plants in North America. WM's fleet includes nearly 11,000 natural gas trucks – the largest heavy-duty natural gas truck fleet of its kind in North America – where more than half are fueled by renewable natural gas.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release are discussed in the Company’s most recent Annual Report on Form 10-K and subsequent reports on Form 10-Q.

Waste Management

Analysts
Ed Egl
713.265.1656
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Media
Toni Werner
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• Introduction of ECOPact^® low-carbon concrete to Minneapolis, Saint Paul and Fargo markets will reduce the carbon footprint of the built environment in these urban centers
• Leading the way to a more sustainable future, Holcim US accelerates the introduction of low-carbon building materials to enable building more with less

CHICAGO--(BUSINESS WIRE)--Holcim US, the leader in sustainable building materials, today announced the expansion of its innovative ECOPact low-carbon concrete with the launch in the Twin Cities, Minnesota and Fargo, North Dakota, markets. Providing 30% to 90% lower CO₂ emissions (without the purchase of offsets) compared to standard concrete, ECOPact offers the industry’s broadest range of low-carbon concrete solutions for high-performing, sustainable and circular construction.

Limiting the emissions that buildings release over their lifetime is critical to stabilizing the climate—making reduced embodied carbon in construction an urgent issue. As the world’s largest diversified supplier of building materials, Holcim is driving the market transition to a net-zero future by being among the first in the industry to offer low-carbon concrete, low-carbon cement, recycled aggregates, services that promote sustainability and transparency through environmental product declarations.

The introduction of ECOPact low-carbon concrete building solutions in the Minneapolis, Saint Paul and Fargo metro areas will help these cities meet their sustainability commitments to the US Mayors' Climate Protection Agreement for reducing greenhouse gas emissions below 1990 levels. It will also make a strong contribution to achieving Holcim’s climate-action goals of reducing scope 1 and 2 emissions per ton of cementitious materials by 25% by 2030 (from a 2018 base year).

Minneapolis has been striving to reduce greenhouse gas emissions for 30 years, starting with the adoption of the Minneapolis-Saint Paul Urban CO₂ Project Plan in 1993. Over the last decade, it has also experienced population growth and rapid changes to its urban landscape. “With countless developments already in the pipeline and so much on the horizon, engineers, architects and developers are driving demand to integrate sustainable building practices throughout the region,” said Randy Gaworski, Sr. Vice President ACM North Central Region, Holcim US. “This is an exciting opportunity to offer our customers high-quality, low-carbon products for meeting our shared commitments to sustainability and net-zero construction.”

ECOPact was first launched throughout the Boston and Washington DC metropolitan areas in 2020. The green concrete is sold at a range of low-carbon levels, from 30% to 90% less carbon emissions compared to standard concrete. Up to 80% less carbon is achieved primarily through the use of lower CO₂-intensive materials. Where conditions allow, ECOPact products can even integrate construction and demolition waste, thus closing the material cycle completely.

About Holcim

Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, creating smarter infrastructure, and improving living standards around the world. With sustainability at the core of our strategy, Holcim is becoming a net-zero company, with our people and communities at the heart of our success. The company is driving circular construction as a world leader in recycling, to build more with less. Holcim is the company behind some of the world’s most trusted brands in the building sector, including ACC, Aggregate Industries, Ambuja Cement, Disensa, Firestone Building Products, Geocycle, Holcim, Lafarge and Malarkey Roofing Products. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.

In the United States, Holcim US includes nearly 350 sites in 43 states and employs 7,000 people. Our customers rely on us to help them design and build better communities with innovative solutions that deliver structural integrity and eco-efficiency. For more information, visit www.holcim.us.

Meredith Castro, Holcim
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THOUSAND OAKS, Calif.--(BUSINESS WIRE)--Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, OTCQX: KGEIF) is issuing this press release in response to recent trading activity in its common shares.

The Company is not aware of any information related to the Company or its operations that would account for the change in market price and level of trading volume that occurred yesterday. The Company’s operations in the field and preparations for drilling are proceeding as planned and the Company anticipates providing a regular corporate update shortly.

About Kolibri Global Energy Inc.

Kolibri Global Energy Inc. is a North American energy company focused on finding and exploiting energy projects in oil, gas, and clean and sustainable energy. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the OTCQX under the stock symbol KGEIF.

For further information, contact:
Wolf E. Regener, +1 (805) 484-3613
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.kolibrienergy.com

THE WOODLANDS, Texas--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) today announced that Dana Armstrong, Chief Financial Officer, will host one-on-one investor meetings at the upcoming investor conference:

Raymond James 44^th Annual Institutional Investors Conference | JW Marriott Grande Lakes in Orlando, Florida
Participation Date: March 6, 2023

ABOUT EXCELERATE ENERGY:

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

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ROCKVILLE, Md.--(BUSINESS WIRE)--X-Energy Reactor Company, LLC (“X-energy” or the “Company”), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, today announced the appointments of Christopher Ginther and Kathleen Hyle to the Company’s Board of Directors (the “Board”), effective immediately. Ginther is Executive Vice President of Business Strategy and Commercial Management at Ontario Power Generation (“OPG”), one of the largest clean power producers in North America. Hyle currently serves on the board of directors for AmerisourceBergen Corporation (NYSE: ABC) and Bunge Limited (NYSE: BG), where she also serves as Board Chair.

“We are pleased to welcome Chris and Kathleen to the Board during a time of significant growth for our Company,” said X-energy founder and Executive Chairman Kam Ghaffarian. “Their extensive leadership experience across industries and in various corporate governance and oversight roles will bring important expertise to our Board as we transition to a public company. With their thorough knowledge and understanding of the nuclear and energy sectors, both will be instrumental in guiding X-energy through our next phase of advanced nuclear energy business growth.”

Ginther joins X-energy’s Board following a total of $40 million in private investments OPG has made in X-energy since 2021, including a $30 million investment in December 2022, and a previously announced OPG commercial partnership with X-energy to pursue opportunities to deploy X-energy’s advanced reactors at industrial sites in Canada. As an energy supplier for Canada’s most populous province, OPG is a globally recognized leader in the development and production of clean energy and nuclear energy projects. OPG has identified small modular nuclear reactors as a core component of its strategy to achieve net-zero emissions by 2040.

“As a clean power operator, investor, and owner, OPG believes X-energy’s innovative technology and approach are well placed to advance the global delivery of nuclear energy at scale,” said Ginther. “OPG is proud to be a leader in the development and deployment of clean energy projects, and we are excited to provide financial and strategic support for its decarbonization commitments. I look forward to joining X-energy’s Board and working closely with the other directors and the management team to realize the Company’s vision.”

As a senior executive at OPG, Ginther is responsible for the company’s business strategy, development, commercial structuring, negotiations, and commercial positioning in support of OPG’s growth strategy. Ginther began his legal career at Torys LLP in Toronto. He has served as Vice President and General Counsel at BCE/Bell and Chief Legal Officer at Ontario Lottery and Gaming Corporation. Ginther received his Bachelor of Arts Degree from the University of Western Ontario in 1983 and graduated from Osgoode Hall Law School in 1986. He received his Master of Laws Degree from Osgoode Hall in 1999.

Hyle brings a wealth of public company governance, operational and financial leadership experience to X-energy. Notably, she held multiple senior positions at Constellation Energy Corporation, where, until her retirement, she served as Senior Vice President and Chief Operating Officer of Constellation Energy Resources, as well as Chief Financial Officer for Constellation Energy Nuclear Group. She also previously served as Chief Financial Officer for ANC Rental Corp., and held the role of Treasurer at both AutoNation, Inc. and Black & Decker Corporation. She holds a Bachelor of Arts in Accounting from Loyola College, Baltimore, Maryland, and is a Certified Public Accountant.

“I believe X-energy is uniquely positioned to lead the transition to a zero-carbon economy through the deployment of its more advanced nuclear technology,” said Hyle. “X-energy represents a tremendous opportunity to support people, businesses, and communities around the world with clean, reliable energy. It is essential to quickly bring these advancements to the market, and I am honored to help guide X-energy forward in its journey to become a publicly-traded leader in the clean energy generation market.”

As previously announced on December 6, 2022, X-energy has entered into a definitive business combination agreement with Ares Acquisition Corporation (NYSE: AAC) (“AAC”), a publicly-traded special purpose acquisition company. Upon the closing of the transaction, which is expected to be completed in the second quarter of 2023, the combined company will be named X-Energy, Inc. and its common equity securities and warrants are expected to be listed on the New York Stock Exchange.

Completion of the transaction is subject to approval by AAC’s shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions.

About X-Energy Reactor Company, LLC

X-Energy Reactor Company, LLC, is a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation that is redefining the nuclear energy industry through its development of safer and more efficient advanced small modular nuclear reactors and proprietary fuel to deliver reliable, zero-carbon and affordable energy to people around the world. X-energy’s simplified, modular and intrinsically safe SMR design expands applications and markets for deployment of nuclear technology and drives enhanced safety, lower cost and faster construction timelines when compared with other SMRs and conventional nuclear. For more information, visit X-energy.com or connect with us on Twitter or LinkedIn.

About Ares Acquisition Corporation

AAC is a special purpose acquisition company (SPAC) affiliated with Ares Management Corporation, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination. AAC is seeking to pursue an initial business combination target in any industry or sector in North America, Europe or Asia. For more information about AAC, please visit www.aresacquisitioncorporation.com.

Additional Information and Where to Find It

In connection with the business combination (the “Business Combination”) with X-energy, AAC has filed the registration statement on Form S-4 (the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”) on January 25, 2023, which includes a preliminary proxy statement/prospectus to be distributed to holders of AAC’s ordinary shares in connection with AAC’s solicitation of proxies for the vote by AAC’s shareholders with respect to the Business Combination and other matters as described in the Registration Statement, as well as a prospectus relating to the offer of securities to be issued to X-energy equity holders in connection with the Business Combination. After the Registration Statement has been declared effective, AAC will mail a copy of the definitive proxy statement/prospectus, when available, to its shareholders. The Registration Statement includes information regarding the persons who may, under the SEC rules, be deemed participants in the solicitation of proxies to AAC’s shareholders in connection with the Business Combination. AAC has filed and will file other documents regarding the Business Combination with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF AAC AND X-ENERGY ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS CONTAINED THEREIN, AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE BUSINESS COMBINATION AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION.

Investors and security holders will be able to obtain free copies of the Registration Statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by AAC through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by AAC may be obtained free of charge from AAC’s website at www.aresacquisitioncorporation.com or by written request to AAC at Ares Acquisition Corporation, 245 Park Avenue, 44th Floor, New York, NY 10167.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the Business Combination, including statements regarding the benefits of the Business Combination, the anticipated timing of the Business Combination, the markets in which X-energy operates and X-energy’s projected future results. X-energy’s actual results may differ from its expectations, estimates and projections (which, in part, are based on certain assumptions) and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. Although these forward-looking statements are based on assumptions that X-energy and AAC believe are reasonable, these assumptions may be incorrect. These forward-looking statements also involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Factors that may cause such differences include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted in connection with any proposed business combination; (2) the inability to complete any proposed business combination or related transactions; (3) inability to raise sufficient capital to fund our business plan, including limitations on the amount of capital raised in any proposed business combination as a result of redemptions or otherwise; (4) delays in obtaining, adverse conditions contained in or the inability to obtain necessary regulatory approvals or complete regulatory reviews required to complete any business combination; (5) the risk that any proposed business combination disrupts current plans and operations; (6) the inability to recognize the anticipated benefits of any proposed business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain key employees; (7) costs related to the proposed business combination; (8) changes in the applicable laws or regulations; (9) the possibility that X-energy may be adversely affected by other economic, business and/or competitive factors; (10) the ongoing impact of the global COVID-19 pandemic; (11) economic uncertainty caused by the impacts of the conflict in Russia and Ukraine and rising levels of inflation and interest rates; (12) the ability of X-energy to obtain regulatory approvals necessary for it to deploy its small modular reactors in the United States and abroad; (13) whether government funding and/or demand for high assay low enriched uranium for government or commercial uses will materialize or continue; (14) the impact and potential extended duration of the current supply/demand imbalance in the market for low enriched uranium; (15) X-energy’s business with various governmental entities is subject to the policies, priorities, regulations, mandates and funding levels of such governmental entities and may be negatively or positively impacted by any change thereto; (16) X-energy’s limited operating history makes it difficult to evaluate its future prospects and the risks and challenges it may encounter; and (17) other risks and uncertainties separately provided to you and indicated from time to time described in filings and potential filings by X-energy, AAC or X-energy, Inc. with the SEC.

The foregoing list of factors is not exhaustive. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by investors as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AAC’s Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, the proxy statement/prospectus related to the transaction, when it becomes available, and other documents filed (or to be filed) by AAC from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. These risks and uncertainties may be amplified by the conflict between Russia and Ukraine, rising levels of inflation and interest rates and the ongoing COVID-19 pandemic, which have caused significant economic uncertainty. Forward-looking statements speak only as of the date they are made. Investors are cautioned not to put undue reliance on forward-looking statements, and X-energy and AAC assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities and other applicable laws.

No Offer or Solicitation

This press release is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities or the solicitation of any vote in any jurisdiction pursuant to the Business Combination or otherwise, nor shall there be any sale, issuance or transfer of securities in any contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

Participants in the Solicitation

AAC and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from AAC’s shareholders, in favor of the approval of the proposed transaction. For information regarding AAC’s directors and executive officers, please see AAC’s Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, and the other documents filed (or to be filed) by AAC from time to time with the SEC. Additional information regarding the interests of those participants and other persons who may be deemed participants in the Business Combination may be obtained by reading the registration statement and the proxy statement/prospectus and other relevant documents filed with the SEC when they become available. Free copies of these documents may be obtained as described in the preceding paragraph.

X-energy

Investors:
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Ares Acquisition Corporation

Investors:
Carl Drake and Greg Mason
+1-888-818-5298
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Jacob Silber
+1-212-301-0376
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Brittany Cash
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• Q4 revenue was $491 million, above the high end of guidance
• Q4 GAAP EPS from continuing operations was $1.20; Q4 Non-GAAP EPS was $1.70, above the mid-point of guidance
• 2022 revenue was a record $1.85 billion, with each end market up 20% or more
• 2022 GAAP EPS from continuing operations was $5.35; 2022 Non-GAAP EPS was a record $6.49
• 2022 cash flow from continuing operations was $184 million

DENVER--(BUSINESS WIRE)--Advanced Energy Industries, Inc. (Nasdaq: AEIS), a global leader in highly engineered, precision power conversion, measurement, and control solutions, today announced financial results for the fourth quarter and year ended December 31, 2022.

“We delivered strong financial results in the fourth quarter, taking advantage of improved component availability and solid manufacturing execution,” said Steve Kelley, president and CEO of Advanced Energy. “For the full year, we achieved record revenue and earnings, thanks to strong demand in all of our markets and improved execution across the company. Although we expect lower revenue in the near-term due to a downturn in the semiconductor equipment market, we anticipate a record level of design-in activity, leveraging our strong pipeline of technology-leading products.”

Quarter Results

Sales were $490.7 million in the fourth quarter of 2022, compared with $516.3 million in the third quarter of 2022 and $396.9 million in the fourth quarter of 2021.

GAAP net income from continuing operations was $45.3 million or $1.20 per diluted share in the quarter, compared with $74.9 million or $1.99 per diluted share in the prior quarter, and $39.7 million or $1.05 per diluted share a year ago.

Non-GAAP net income was $64.2 million or $1.70 per diluted share in the fourth quarter of 2022. This compares with $79.6 million or $2.12 per diluted share in the third quarter of 2022, and $51.5 million or $1.36 per diluted share in the fourth quarter of 2021.

Advanced Energy generated $70.7 million of cash flow from continuing operations during the quarter, repurchased $0.7 million of common stock and paid $3.8 million in a quarterly dividend.

Full Year 2022 Results

2022 revenue was a record $1.85 billion, a 27% increase from $1.46 billion in 2021.

GAAP net income from continuing operations was a record $201.9 million or $5.35 per diluted share in 2022, compared with $134.7 million or $3.51 per diluted share in 2021.

Non-GAAP net income was a record $244.8 million or $6.49 per diluted share in 2022, compared to $183.2 million or $4.78 per diluted share in 2021.

The company generated $183.7 million of operating cash from continuing operations in 2022, repurchased $26.6 million of common stock and paid $15.2 million in dividends. Cash and equivalents including long-term marketable securities at ended the year were $460.9 million.

A reconciliation of GAAP to non-GAAP measures is provided in the tables below.

First Quarter 2023 Guidance

Based on the Company’s current view, beliefs, and assumptions, guidance for the first quarter of 2023 is within the following ranges:

Conference Call

Management will host a conference call today, February 8, 2023, at 4:30 p.m. Eastern Time to discuss the fourth quarter and full year financial results. To participate in the live earnings conference call, please dial 877-407-0890 approximately ten minutes prior to the start of the meeting and an operator will connect you. International participants can dial +1-201-389-0918. A webcast will also be available on our investor web page at ir.advancedenergy.com in the Events & Presentations section. The archived webcast will be available approximately two hours following the end of the live event.

About Advanced Energy

Advanced Energy Industries, Inc. (Nasdaq: AEIS) is a global leader in the design and manufacture of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. Advanced Energy’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial production, medical and life sciences, data center computing, networking, and telecommunications. With engineering know-how and responsive service and support for customers around the globe, the company builds collaborative partnerships to meet technology advances, propels growth of its customers and innovates the future of power. Advanced Energy has devoted four decades to perfecting power. It is headquartered in Denver, Colorado, USA. For more information, visit www.advancedenergy.com.

Advanced Energy | Precision. Power. Performance. Trust.

Non-GAAP Measures

This release includes GAAP and non-GAAP income and per-share earnings data and other GAAP and non-GAAP financial information. Advanced Energy’s non-GAAP measures exclude the impact of non-cash related charges such as stock-based compensation and amortization of intangible assets, as well as discontinued operations, and non-recurring items such as acquisition-related costs and restructuring expenses. The non-GAAP measures included in this release are not in accordance with, or an alternative for, similar measures calculated under generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. We believe that these non-GAAP measures provide useful information to management and investors to evaluate business performance without the impacts of certain non-cash charges, non-economic foreign currency remeasurements, and other cash charges which are not part of our usual operations. We use these non-GAAP measures to assess performance against business objectives, make business decisions, develop budgets, forecast future periods, assess trends, and evaluate financial impacts of various scenarios. In addition, management’s incentive plans include these non-GAAP measures as criteria for achievements. Additionally, we believe that these non-GAAP measures, in combination with its financial results calculated in accordance with GAAP, provide investors with additional perspective. To gain a complete picture of all effects on our financial results from any and all events, management does (and investors should) rely upon the GAAP measures as well, as the items excluded from non-GAAP measures may contribute to not accurately reflecting the underlying performance of the company’s continuing operations for the period in which they are incurred. Furthermore, the use of non-GAAP measures has limitations in that such measures do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP, and these measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP measures.

Forward-Looking Statements

This release and statements we make on the above announced conference call contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this report that are not historical information are forward-looking statements. For example, statements relating to our beliefs, expectations and plans are forward-looking statements, as are statements that certain actions, conditions, or circumstances will continue. The inclusion of words such as "anticipate," "expect," "estimate," "can," "may," "might," "continue," "enables," "plan," "intend," "should," "could," "would," "likely," "potential," or "believe," as well as statements that events or circumstances "will" occur or continue, indicate forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to: (a) supply chain disruptions and component shortages that may impact our ability to timely manufacture products and deliver to customers; (b) the effects of global macroeconomic conditions upon demand for our products and services, including supply chain cost increases, inflationary pressures, economic downturns, and volatility and cyclicality of the industries we serve; (c) the impact of political and geographical risks, including trade and export regulations, other effects of international disputes, war, terrorism, or geopolitical tensions; (d) managing backlog orders; (e) our ability to develop new products expeditiously and be successful in the design win process; (f) delays in capital spending by end-users in our served markets; (g) the risks and uncertainties related to the integration of acquired companies including SL Power Electronics; (h) the continuing spread of COVID-19 and its potential adverse impact on our operations; (i) our ability to avoid additional costs and lawsuits after the solar inverter wind-down; (j) the accuracy of our assumptions on which our financial statement projections are based; (k) the timing of orders received from customers; (l) our ability to realize benefits from cost improvement efforts including avoided costs, restructuring plans and inorganic growth; (m) unanticipated changes to management’s estimates, reserves or allowances; and (n) changes and adjustments to the tax expense and benefits related to the U.S. tax law changes, any of which could negatively impact our customers’ and our presence, operations, and financial results. These and other risks are described in Advanced Energy’s Form 10-K, Forms 10-Q and other reports and statements filed with the Securities and Exchange Commission (the “SEC”). These reports and statements are available on the SEC’s website at www.sec.gov. Copies may also be obtained from Advanced Energy’s investor relations page at ir.advancedenergy.com or by contacting Advanced Energy’s investor relations at 970-407-6555. Forward-looking statements are made and based on information available to us on the date of this press release. Aspirational goals and targets discussed on the conference call or in the presentation materials should not be interpreted in any respect as guidance. We assume no obligation to update the information in this press release.