Business Wire News

Presented by S&P Global Commodity Insights, the awards recognized Convergent’s Solar-Plus-Storage System providing a Non-Wires Alternative for National Grid in the “Infrastructure Project of the Year” category

NEW YORK--(BUSINESS WIRE)--Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced that it has been named a finalist for the 24th Annual Platts Global Energy Awards in the “Infrastructure Project of the Year” category.



Often described by S&P Global Commodity Insights as "the Oscars of the energy industry," the Platts Global Energy Awards recognize corporate and individual innovation, leadership, and exemplary performance in 19 categories spanning the entire energy and chemicals complex. This year’s awards finalists represent 26 countries from Europe, Asia, and the Americas.

Convergent was named a finalist in the “Infrastructure Project of the Year” category for its solution with National Grid, which is one of the first solar-plus-storage systems providing a non-wires-alternative (NWA). The system, designed, constructed, and operated by Convergent, will deliver more cost-effective, reliable, and sustainable electricity to National Grid customers in Cicero, New York, while leveraging solar energy during nonpeak periods.

Because the system is DC coupled, meaning that two disparate systems are paired such that they share a single connection point to the grid, energy can be captured that would otherwise have been lost in an alternative solution, thereby increasing the utilization of emission-free energy. In addition to providing more sustainable, cost effective and reliable energy to National Grid and its customers, Convergent’s NWA defers the need to construct or upgrade components of pre-existing infrastructure, such as distribution or transmission systems.

“It is an honor to be recognized by S&P Global for our efforts, together with our partners at National Grid, to modernize energy infrastructure and bring sustainable and cost-effective power to communities in New York State,” said Johannes Rittershausen, Convergent’s Chief Executive Officer. “Energy storage is the linchpin of the clean energy transition, 'firming' renewable generation so it is available when it is needed most. Convergent is committed to accelerating the clean energy transition through AI-powered energy storage; we believe this system will serve as a model for the broader energy storage sector.”

“The NWA Pine Grove installation in Cicero, N.Y. aligns with our Clean Energy Vision and is a glimpse into the future of electricity delivery,” said Brian Gemmell, National Grid New York’s Chief Operating Office for Electric. “This solution increases the amount of renewable energy on the grid while deploying storage solutions to support our infrastructure at times of peak usage. Convergent Energy and Power’s innovation adds reliability and resiliency to our grid that directly benefits our customers. We are proud of our work with Convergent and honored to be recognized for it.”

"In a year of unexpected challenges, from Europe's energy crisis to trade-flow changes and banner market volatility, it's particularly inspiring to see the innovation and leadership of this year's finalists in steering a course toward a better energy future," said Sue Avinir, Senior Vice President of Conferences & Advisory Solutions, S&P Global Commodity Insights. "We're proud to honor this year's finalists and celebrate their efforts."

The winners of the Platts Global Energy Awards will be selected by an independent panel of judges. Winners will be announced on December 8th at an awards ceremony and gala in New York City.

About Convergent Energy and Power
Convergent Energy and Power (Convergent) is a leading provider of energy storage solutions in North America. Convergent has over a decade of experience financing and managing all aspects of the energy storage development cycle to help customers reduce electricity costs and increase reliability. The company’s commercial, industrial, and utility-scale assets can yield seven-figure savings while advancing the clean energy transition. Convergent’s proprietary asset management platform, PEAK IQ® leverages machine learning and deep market knowledge to optimize asset performance and maximize value. Convergent has over $500M invested in or committed to projects in operation or under development across North America. For more information, visit convergentep.com or follow us on LinkedIn or Twitter.


Contacts

Convergent Press Contact
Kate Siskel
SVP, Marketing and Communications
Convergent Energy and Power
ksiskel [at] convergentep.com
917-508-0274

The business unveiled the Renegade VOLT ™ 200i and more than a dozen other new products during its first-ever SparkWeek virtual event

NORTH BETHESDA, Md.--(BUSINESS WIRE)--$ESAB #ESABCorporation--Today ESAB, part of ESAB Corporation (NYSE: ESAB), and a world leader in welding and cutting equipment and consumables, unveiled the industry-changing Renegade VOLT™ ES 200i Stick/TIG battery-powered welding system as it closed out SparkWeek, the brand’s week-long, virtual launch event highlighting new welding and fabrication products, automation and robotics solutions, and industry-shaping PPE.


Developed in conjunction with Stanley Black & Decker and powered by four DEWALT® FLEXVOLT® 12 Ah (amp-hour) batteries, the Renegade VOLT marks a crossroads for the welding industry, as ESAB establishes a new product category. For the first-time welders have a battery-powered welding machine which operates on interchangeable, rechargeable power tool batteries. The VOLT is a highly portable option for off-the-grid welding across key industries like maintenance and repair, construction, shipyard, rail, power generation, offshore and farm/agriculture. The product will be available for purchase in Q1 2023.

"ESAB has continuously brought new ideas to the market since the invention of the first coated welding electrode more than a century ago. With the Renegade VOLT, we have taken the idea of portability and supercharged it,” said Olivier Biebuyck, President, EMEA and Global Products, ESAB Corporation. “Up until now, welding jobs have only gone as far as the equipment could reach. Welders were stuck lugging around heavy leads, tripping over cables, and wondering what kind of power would be at the job site. Sometimes welders even spent more time on job set up and breakdown than welding. Today, ESAB eliminated those constraints and ushered in a new age. This is the age of true welding freedom. No cords and heavy leads, no time-consuming setup, no engines, or fuel."

The VOLT launch capped off a string of new and re-imagined solutions from ESAB which were unveiled during SparkWeek. The company made more than 15 announcements between Monday, November 14 and Friday, November 18 via dynamic, live video premieres at ESAB.com/SparkWeek. The event page now features information about these new products and partnerships, including key specifications and availability information:

  • Ruffian 150, ESAB’s all-new engine-driven welder
  • Rogue EM and Rogue EMP, MIG and multi-process machines
  • Rustler, a completely new ESAB line of compact MIG machines
  • Renegade 1 Ph DC, powerful-yet-lightweight machine now in single-phase power
  • Warrior EDGE CX System with RobustFeed Edge CX and Exeor torch, a next-generation pulse-MIG power source, feeder, and torch product family
  • Sentinel A60, the next iteration of ESAB’s industry-leading automatic welding helmet
  • Swarm A10, A20, and A30, affordable, performance driven welding helmet portfolio
  • Vision T6, easy-to-use CNC cutting machine controller
  • Marathon Pac Ultra, a new 1,100-lb. bulk welding wire drum package
  • Cutmaster 30+, next-generation manual plasma cutter focused on power and portability
  • Thermal Dynamics Automation UC Series, a high precision mechanized plasma system
  • Victor Edge 2.0 Phase IV and HRF2400, gas regulator and a regulator/flowmeter combination
  • Versotrac Cadet, a compact, efficient, and easy to use submerged arc welding (SAW) tractor
  • InduSuite, advanced software that connects welding and cutting data, machinery, and processes across one platform
  • PURUS, new and improved premium wire specially formulated to reduce post-weld cleaning

ESAB products are available globally for purchase through select distributors and retail locations. Visit ESAB.com to find a local distributor and learn more about the product portfolio.

About ESAB

ESAB is a world leader in fabrication technology. For more than 100 years ESAB has transformed industries built by fabricators, providing complete workflow solutions through our diverse portfolio of products from more than 40 of the most trusted brands in welding and cutting in the world. From industrial demands to repair and maintenance, innovators that shape the world, rely on ESAB’s portfolio. To learn more, visit ESAB.com.

About ESAB Corporation

ESAB Corporation (NYSE: ESAB) is a world leader in fabrication and gas control technology, providing our partners with advanced equipment, consumables, gas control equipment, robotics, and digital solutions which enable the everyday and extraordinary work that shapes our world. To learn more, visit ESABcorporation.com.


Contacts

Media Contact for ESAB
Tilea Coleman
Vice President, Corporate Communications
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: 1-301-323-9092

—Reliant’s $25,000 donation funds new program, inspiring wildlife conservation among youth in Texas—

CORPUS CHRISTI, Texas--(BUSINESS WIRE)--#Energy--Reliant and the Texas State Aquarium (TSA) are coming together to expand coastal wildlife rescue and education efforts across the Lone Star State. With a $25,000 donation from Reliant, TSA will provide an interactive learning platform to children in underserved communities in Dallas, Houston, the Rio Grande Valley, and more areas where residents are unable to visit the Aquarium and the new Port of Corpus Christi Center for Wildlife Rescue.



“As longtime supporters of the beloved Texas State Aquarium, we’re excited to provide resources for them to expand their educational program in a fun and unique way that reaches even more Texans,” said Elizabeth Killinger, president of Reliant. “Reliant has a deep commitment to the Lone Star State, and in partnering with the Aquarium, we hope to inspire the next generation to appreciate and protect our coastal wildlife.”

TSA recently converted a retired ambulance donated by the Corpus Christi Fire Department into its Wildlife Rescue vehicle. Its primary purpose is to respond to wildlife emergencies and transport injured, ill, or stranded marine animals. However, when not being used for this purpose, it will serve as the main attraction of the Aquarium’s new educational program, Wildlife Rescue on the Road. The program’s goal is to visit schools and nonprofits, such as the YMCA and Boys & Girls Clubs in underserved communities across Texas.

Last week, the Aquarium launched their brand-new educational program, Wildlife Rescue on the Road, with 6th graders from the Flour Bluff Independent School District and will continue to expand its reach in upcoming months. Participants were able to tour the vehicle and study how it responds to wildlife emergencies, such as stranded marine mammals, cold-stunned sea turtle events, injured shorebirds and more. This first-hand learning experience highlights the Aquarium’s Wildlife Rescue mission, advocating for wildlife conservation and minimizing human impact on the coastal environment.

“We are grateful to Reliant for helping us launch this traveling program, giving us the ability to bring Texas’ coastal wildlife to communities here in Corpus Christi and around the state,” said Jesse Gilbert, Texas State Aquarium President and Chief Executive Officer. “Many children living in our state have never visited the Texas coast, and we are excited to bring this creative initiative to them.”

The educational program, Wildlife Rescue on the Road, will begin its robust statewide tour starting with Houston in January of 2023. To learn more about this initiative, visit texasstateaquarium.org/educate/offsite.

About Reliant

Reliant powers, protects and simplifies life by bringing electricity, security and related services to homes and businesses across Texas. Serving customers and the community is at the core of what we do, and the company is recognized nationally for outstanding customer experience. Reliant is part of NRG, a Fortune 500 company that creates value by generating electricity and providing energy solutions to nearly 6 million residential, small business and commercial customers across the U.S. and Canada. NRG’s competitive residential electricity business, which includes Reliant, is one of the largest in the country. For more information about Reliant, visit reliant.com and connect with Reliant on Facebook at facebook.com/reliantenergy and Twitter or Instagram @reliantenergy. PUCT Certificate #10007.

About The Texas State Aquarium

The Texas State Aquarium (TSA), the Official Aquarium of the State of Texas, is a private, not-for-profit 501(c)(3) institution that is fully accredited by the Association of Zoos and Aquariums and the World Association of Zoos and Aquariums. Its mission is to engage people with animals, inspire appreciation for our seas and support wildlife conservation. TSA, the largest Aquarium in Texas, cares for over 4,000 animals and has been named the #5 Aquarium in North America by USA Today. Learn more at texasstateaquarium.org.


Contacts

Megan Talley, Reliant
713-537-2160
This email address is being protected from spambots. You need JavaScript enabled to view it.

Jennifer Vela, Texas State Aquarium
361-653-2655
This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced a cash distribution to the holders of its units of beneficial interest of $0.047500 per unit, payable on December 13, 2022 to unitholders of record on November 30, 2022. The net profits interest calculation represents reported oil production for the month of August 2022 and reported natural gas production during July 2022. The calculation includes accrued costs incurred in September 2022.

The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations.

 

 

Underlying Sales Volumes

 

Average Price

 

 

Oil

 

Natural Gas

 

Oil

 

Natural Gas

 

 

Bbls

 

Bbls/D

 

Mcf

 

Mcf/D

 

(per Bbl)

 

(per Mcf)

Current Month

 

42,594

 

1,374

 

144,367

 

4,657

 

$

97.06

 

$

7.05

Prior Month

 

43,632

 

1,407

 

237,538

 

7,918

 

$

106.32

 

$

7.56

Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $4.1 million for the current month on realized wellhead prices of $97.06/Bbl, down $0.5 million from the prior month’s oil cash receipts.

Recorded natural gas cash receipts from the Underlying Properties totaled $1.0 million for the current month on realized wellhead prices of $7.05/Mcf, down $0.8 million from the prior month. The decline in receipts reflected a prior period accounting adjustment by one of the operators of the Underlying Properties that was accounted for in the current month’s natural gas revenues.

Total accrued operating expenses for the period were consistent with the prior period at $2.8 million. Capital expenditures decreased $0.9 million from the prior period to $0.4 million.

As previously disclosed, COERT Holdings 1 LLC (the “Sponsor”) has established a $1.1 million cash reserve for approved, future development expenses in 2022. Given the approaching year-end and the Sponsor’s continuing reevaluation of the expected timing for capital expenditures on the Underlying Properties, the Sponsor is releasing $0.1 million from the reserve to partially fund the current month’s capital expenditures. The remaining reserve of $1.0 million will be held to fund incremental future development expenses; however, if those expenses are ultimately delayed or are less than expected, or if the outlook changes, amounts reserved but unspent will be released as an incremental cash distribution in a future period.

About Permianville Royalty Trust

Permianville Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain, predominantly non-operated, oil and gas properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.permianvilleroyaltytrust.com.

Forward-Looking Statements and Cautionary Statements

This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, expectations regarding the cash reserve for future development expenses and expectations regarding current and future capital expenditures and development activities on the Underlying Properties. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from the Sponsor with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have experienced significant fluctuation since the beginning of 2020 as a result of a variety of factors that are beyond the control of the Trust and the Sponsor. Low oil and natural gas prices will reduce profits to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. Other important factors that could cause actual results to differ materially include expenses of the Trust, reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. In addition, future monthly capital expenditures may exceed the average levels experienced in 2021 and prior periods. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither the Sponsor nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by the Trust is subject to the risks described in the Trust’s filings with the SEC, including the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 25, 2022. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.


Contacts

Permianville Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell, 1 (512) 236-6555

LAKE CHARLES, La.--(BUSINESS WIRE)--#CCS--Gulf Coast Sequestration (GCS), a Louisiana-based company building the largest carbon sequestration hub in North America, and leading direct air capture (DAC) company Climeworks today announced the signing of a Memorandum of Understanding (MOU). Their partnership will aim to enable the permanent removal of one million tons of carbon dioxide from the air annually by 2030, with the capability to expand to multi-million ton capacity in future years.


Climeworks and GCS are industry pioneers bringing cutting edge innovation to carbon dioxide (CO2) removal and secure, permanent storage. GCS matches Climeworks’ pioneering DAC technology with comprehensively studied geologic pore space ideally suited for a world-class carbon storage project.

Climeworks and GCS have started dialogue with local stakeholders toward developing an informed community benefits plan that will engage interested parties in the region throughout the planning and development of the project.

“Congratulations to Climeworks and Gulf Coast Sequestration on announcing this innovative collaboration,” said Louisiana Governor John Bel Edwards. “Louisiana is rapidly emerging as a leader in the global energy transition, and carbon capture and sequestration is a crucial part of our plan to get to net-zero carbon emissions by 2050. This significant agreement between a pioneering Louisiana company and a global leader in direct air capture technology is another step forward in diversifying and growing our economy.”

“Louisiana is leading the way on direct air capture innovation,” said Senator Bill Cassidy, M.D. “This deal is a great step forward for our state and all those working to strengthen our economy, create jobs in Louisiana, and reduce global carbon emissions.”

“Direct air capture (DAC) is a key technology for removing unavoidable and historic CO2 from the air,” said Climeworks co-CEO Jan Wurzbacher. “Climeworks is excited to work with GCS on the development of a U.S. hub to scale up the DAC industry in support of a more economically and environmentally sustainable future in Louisiana.”

“Carbon capture and sequestration (CCS) is a key component of today’s energy transition, offering an immediate pathway to rapid decarbonization,” said Gray Stream, President of the Stream Companies, the owner of GCS. “Direct air capture (DAC) presents the inspiring possibility of reaching net-zero or even negative carbon emissions. Together, GCS and Climeworks are uniquely positioned to bring this promise to reality in the Gulf Coast’s industrial corridor.”

Editor’s Note

  • For inquiries relating to Climeworks, please reach out to This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it.

About GCS

Gulf Coast Sequestration (GCS) is the leading carbon sequestration solution in the United States, partnering with industrial customers to capture CO₂ and safely contain it underground.

Initially focused on the industrial corridor between southwest Louisiana and Texas, GCS expects to be the first operational carbon storage hub on the Gulf Coast. With an anticipated launch date in 2024, the hub will remove 10 million tons of CO₂ emissions annually from the atmosphere.

More information about GCS is online at www.gcscarbon.com.

About Climeworks

Climeworks empowers people and companies to fight global warming by offering carbon dioxide removal as a service via direct air capture (DAC) technology.

Climeworks is a global leader in direct air capture, with the world’s largest DAC facility and storage installation currently in operation, and a team of 300 Climeworkers determined to contribute to a net-zero future. Climeworks’ growing customer base includes over 160 companies including Microsoft, Stripe, Shopify, and BCG, as well as more than 16,000 individual Climate Pioneers.

Founded by engineers Christoph Gebald and Jan Wurzbacher in 2009, Climeworks is on a journey to climate impact at scale. To do so, we strive to inspire 1 billion people to act and remove CO2 from the air.

Remove CO2 from the air – with Climeworks:

WebLinkedInTwitterInstagram


Contacts

Ryan Furby, GCS
(337) 501-1478
This email address is being protected from spambots. You need JavaScript enabled to view it.

BROOKLYN HEIGHTS, Ohio--(BUSINESS WIRE)--GrafTech International Ltd. (NYSE: EAF) ("GrafTech" or the "Company") announced today the conditional lifting of the temporary suspension notice related to the Company’s operations located in Monterrey, Mexico, allowing the Company to resume operations at the facility, effective immediately. On November 17, 2022, the State Attorney’s Office for the Secretary of Environment of the State of Nuevo León, Mexico (the “State Attorney”) lifted the suspension notice, subject to the completion of certain agreed-upon activities, including the submission of an environmental impact study with respect to the facility’s operations. The temporary suspension notice had been issued on September 15, 2022, by the State Attorney, as described in the Company’s Current Report on Form 8-K furnished on September 16, 2022.


"We are pleased to have received an order that allows for the immediate restart of our operations in Mexico,” said Marcel Kessler, Chief Executive Officer and President. "We remain committed to being a good corporate citizen and positively supporting the communities in which we operate, and we look forward to expanding our engagement with the Monterrey community for many years to come. I would like to thank the entire GrafTech team, particularly all our employees in Monterrey, for their efforts to address this situation and the continued focus on supporting our customers and moving our business ahead."

For the fourth quarter of 2022, the Company continues to anticipate the temporary suspension will impact its ability to fulfill approximately 10 thousand metric tons (“MT”) to 12 thousand MT of customer orders, consistent with its previous outlook provided on November 4, 2022. The Company will provide an update on the estimated impact of the suspension on its 2023 outlook when it reports its fourth quarter 2022 results.

The Company’s facility in Monterrey has been operating since 1959, has over 550 employees and represents approximately 60 thousand MT of annual production capacity, or 30% of GrafTech’s total annual production capacity, excluding the Company’s facility in St. Marys, Pennsylvania.

About GrafTech

GrafTech International Ltd. is a leading manufacturer of high-quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. The Company has a competitive portfolio of low-cost, ultra-high power graphite electrode manufacturing facilities, including three of the highest capacity facilities in the world. We are the only large-scale graphite electrode producer that is substantially vertically integrated into petroleum needle coke, a key raw material for graphite electrode manufacturing. This unique position provides us with competitive advantages in product quality and cost.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect our current views with respect to, among other things, financial projections, plans and objectives of management for future operations, and future economic performance. Examples of forward-looking statements include, among others, statements we make regarding future estimated revenues and volumes derived from our take-or-pay agreements that had initial terms of three-to-five years, future pricing of short-term agreements and spot sales, anticipated levels of capital expenditures, and guidance relating to earnings per share and adjusted EBITDA. You can identify these forward-looking statements by the use of forward-looking words such as “will,” “may,” “plan,” “estimate,” “project,” “believe,” “anticipate,” “expect,” “foresee,” “intend,” “should,” “would,” “could,” “target,” “goal,” “continue to,” “positioned to,” “are confident,” or the negative versions of those words or other comparable words. Any forward-looking statements contained in this press release are based upon our historical performance and on our current plans, estimates and expectations considering information currently available to us. The inclusion of this forward-looking information should not be regarded as a representation by us that the future plans, estimates, or expectations contemplated by us will be achieved. Our expectations and targets are not predictions of actual performance and historically our performance has deviated, often significantly, from our expectations and targets. These forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business, prospects, growth strategy and liquidity. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to: the ultimate impact the COVID-19 pandemic has on our business, results of operations, financial condition and cash flows, including the duration and spread of any variants, the duration and scope of related government orders and restrictions, the impact on our employees, and the disruptions and inefficiencies in our supply chain; the ultimate impact the conflict between Russia and Ukraine has on our business, results of operations, financial condition and cash flows, including the duration and scope of such conflict, its impact on disruptions and inefficiencies in our supply chain and our ability to procure certain raw materials; the possibility that we may be unable to implement our business strategies, including our ability to secure and maintain longer-term customer contracts, in an effective manner; the cyclical nature of our business and the selling prices of our products, which may decline in the future, may lead to periods of reduced profitability and net losses in the future; the impact of inflation and our ability to mitigate the effect on our costs; the risks and uncertainties associated with litigation, arbitration, and like disputes, including disputes related to contractual commitments; the possibility that global graphite electrode overcapacity may adversely affect graphite electrode prices; our dependence on the global steel industry generally and the electric arc furnace steel industry in particular; the sensitivity of our business and operating results to economic conditions, including any recession, and the possibility others may not be able to fulfill their obligations to us in a timely fashion or at all; the competitiveness of the graphite electrode industry; our dependence on the supply of raw materials, including decant oil, petroleum needle coke, and energy, and disruptions in supply chains for these materials; our manufacturing operations are subject to hazards; changes in, or more stringent enforcement of, health, safety and environmental regulations applicable to our manufacturing operations and facilities; the legal, compliance, economic, social and political risks associated with our substantial operations in multiple countries; the possibility that fluctuation of foreign currency exchange rates could materially harm our financial results; the possibility that our results of operations could deteriorate if our manufacturing operations were substantially disrupted for an extended period, including as a result of equipment failure, climate change, regulatory issues, natural disasters, public health crises, such as the COVID-19 pandemic, political crises or other catastrophic events, including our ability to resume our operations in Monterrey, Mexico and continue to operate once resumed; our dependence on third parties for certain construction, maintenance, engineering, transportation, warehousing and logistics services; the possibility that we are unable to recruit or retain key management and plant operating personnel or successfully negotiate with the representatives of our employees, including labor unions; the sensitivity of goodwill on our balance sheet to changes in the market; the possibility that we are subject to information technology systems failures, cybersecurity attacks, network disruptions and breaches of data security; our dependence on protecting our intellectual property and the possibility that third parties may claim that our products or processes infringe their intellectual property rights; the possibility that our indebtedness could limit our financial and operating activities or that our cash flows may not be sufficient to service our indebtedness; the possibility that restrictive covenants in our financing agreements could restrict or limit our operations; the fact that borrowings under certain of our existing financing agreements subject us to interest rate risk; the possibility that disruptions in the capital and credit markets could adversely affect our results of operations, cash flows and financial condition, or those of our customers and suppliers; the possibility that the market price of our common stock could be negatively affected by sales of substantial amounts of our common stock in the public markets, including by Brookfield Asset Management Inc. and its affiliates; the possibility that we may not pay cash dividends on our common stock in the future; and the fact that our stockholders have the right to engage or invest in the same or similar businesses as us.

These factors should not be construed as exhaustive and should be read in conjunction with the Risk Factors and other cautionary statements that are included in our most recent Annual Report on Form 10-K and other filings with the SEC. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Except as required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.


Contacts

Michael Dillon
216-676-2000
This email address is being protected from spambots. You need JavaScript enabled to view it.

Plant Would Continue Serving as a Reliable, Low-Cost, Carbon-Free Bridge While State Brings Online New Clean Energy Resources

AVILA BEACH, Calif.--(BUSINESS WIRE)--Today, the U. S. Department of Energy (DOE) confirmed Pacific Gas and Electric Company’s (PG&E) Diablo Canyon Power Plant (DCPP) is eligible for federal funding through the Civil Nuclear Credit Program.

PG&E filed its application for federal funding on September 2, 2022, the same day California Governor Gavin Newsom signed Senate Bill 846 into law, seeking to extend operations at DCPP in San Luis Obispo County for five years beyond its current license expiration in 2025. The plant would be used to improve statewide energy system reliability and reduce greenhouse gas emissions while additional renewable energy and carbon-free resources come online.

Last month, the state authorized a loan of up to $1.4 billion from the Department of Water Resources to PG&E to support extending operations at the plant. SB 846 further directed PG&E to pursue funds from DOE, and any other potentially available federal funds, to pay back the loan and lower costs for customers should the plant’s operating license be extended.

“This is another very positive step forward to extend the operating life of Diablo Canyon Power Plant to ensure electrical reliability for all Californians,” said PG&E Corporation Chief Executive Officer Patti Poppe. “While there are key federal and state approvals remaining before us in this multi-year process, we remain focused on continuing to provide reliable, low-cost, carbon-free energy to the people of California, while safely operating one of the top performing plants in the country.”

PG&E has been conditionally awarded a total of approximately $1.1 billion from the DOE. Final award amounts will be determined following completion of each year of the award period, and amounts awarded will be based on actual costs.

“This is a critical step toward ensuring that our domestic nuclear fleet will continue providing reliable and affordable power to Americans as the nation’s largest source of clean electricity,” said U.S. Secretary of Energy Jennifer M. Granholm. “Nuclear energy will help us meet President Biden’s climate goals, and with these historic investments in clean energy, we can protect these facilities and the communities they serve.”

DCPP’s Safe and Reliable Operations

PG&E is committed to the highest levels of safety, performance and security at DCPP. The plant has an excellent safe operating record and is subject to rigorous regulatory oversight, including with respect to seismic safety. To learn more, click here. The Nuclear Regulatory Commission’s (NRC) current assessment places DCPP among the highest performing plants in the nation and continues to find the facility is operating safely and meeting industry-established safety and performance objectives. All plant operations will continue to be overseen and monitored by the NRC, as well as several other independent industry and external oversight entities.

DCPP can generate 2,200 megawatts of baseload electricity, and currently provides approximately 17% of California’s zero-carbon electricity supply and 8.6% of the state’s total electricity supply.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit www.pge.com/ and http://www.pge.com/about/newsroom/.


Contacts

Media Relations
415.973.5930

HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) announced today that its board of directors has declared a 2022 fourth quarter dividend of twelve cents ($0.12) a share on the Company’s common stock payable on December 21, 2022, to shareholders of record at the close of business on December 8, 2022.


About Halliburton

Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on Facebook, Twitter, LinkedIn, Instagram and YouTube.


Contacts

For Investors:
David Coleman
Investor Relations
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281-871-2688

For News Media:
Emily Mir
External Affairs
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281-871-2601

HOUSTON--(BUSINESS WIRE)--PrimeEnergy Resources Corporation (NASDAQ: PNRG) announced today the following unaudited results for the periods ended September 30, 2022 and 2021:

 

 

Three Months Ended September 30,

Nine Months Ended September 30,

 

2022

2021

 

 

2022

2021

 

 

Revenues

$

39,651,000

$

17,311,000

 

 

$

101,562,000

$

42,292,000

 

Net Income

$

13,154,000

$

(1,163,000

)

 

$

35,279,000

$

(5,021,000

)

Earnings per Common Share:

 

 

 

 

 

Basic

$

6.79

$

(0.58

)

 

$

17.95

$

(2.52

)

Earnings per Common Share:

 

 

 

 

Diluted

$

4.88

$

(0.58

)

 

$

12.96

$

(2.52

)

Shares Used in Calculation of:

 

 

 

 

 

Basic EPS

 

1,937,091

 

1,994,177

 

 

 

1,965,334

 

1,994,177

 

Shares Used in Calculation of:

 

 

 

 

 

Diluted EPS

2,694,906

 

1,994,177

 

 

 

2,722,522

 

1,994,177

 

 

 

 

 

 

 

Total assets at September 30, 2022 were $212,899,000 compared to $210,914,000 at December 31, 2021. The Company currently has available a $75 million line of credit with no outstanding borrowings as of November 21, 2022.

Oil and gas production and the average prices received (excluding gains and losses from derivatives) for the three and nine months ended September 30, 2022 and 2021 were as follows:

 

 

 

Nine months ended September 30,

 

 

 

2022

 

 

2021

Increase /
(Decrease)

Increase /
(Decrease)

Barrels of Oil Produced

 

752,500

 

480,000

 

272,500

56.8

%

Average Price Received

$

100.39

$

63.28

$

37.11

58.6

%

Oil Revenue (In 000’s)

$

75,546

$

30,376

$

45,170.00

148.7

%

Mcf of Gas Sold

 

2,456,800

 

2,395,000

 

61,800

2.6

%

Average Price Received

$

6.01

$

3.32

$

2.69

81

%

Gas Revenue (In 000’s)

$

14,762

$

7,948

$

6,814,000

85.7

%

Barrels of Natural Gas Liquids Sold

 

332,400

 

298,000

 

34,400

11.5

%

Average Price Received

$

37.54

$

26.11

$

11.43

43.8

%

Natural Gas Liquids Revenue (In 000’s)

$

12,477

$

7,781

$

4,696

60.4

%

Total Oil & Gas Revenue (In 000’s)

$

102,785

$

46,105

$

56,680

122.9

%

 

 

 

Three months ended September 30,

 

 

2022

 

2021

Increase /
(Decrease)

Increase /
(Decrease)

Barrels of Oil Produced

 

244,500

 

152,000

 

92,500

 

60.9

%

Average Price Received

$

95.72

$

68.70

$

27.02

 

39.3

%

Oil Revenue (In 000’s)

$

23,403

$

10,442

$

12,961

 

124.1

%

Mcf of Gas Sold

 

879,800

 

950,000

 

(70,200

)

(7.39

)%

Average Price Received

$

7.23

$

4.21

$

3.02

 

71.7

%

Gas Revenue (In 000’s)

$

6,359

$

3,998

$

2,631

 

59.1

%

Barrels of Natural Gas Liquids Sold

 

122,400

 

103,000

 

19,400

 

18.8

%

Average Price Received

$

34.35

$

35.26

$

(0.91

)

(2.59

)%

Natural Gas Liquids Revenue (In 000’s)

$

4,204

$

3.632

$

572

 

15.7

%

Total Oil & Gas Revenue (In 000’s)

$

33,966

$

18,072

$

15,894

 

87.9

%

PrimeEnergy is an independent oil and natural gas company actively engaged in acquiring, developing and producing oil and natural gas, and providing oilfield services, primarily in Texas. The Company’s common stock is traded on the Nasdaq Stock Market under the symbol PNRG. If you have any questions on this release, please contact Connie Ng at (713) 735-0000 ext 6416.

Forward-Looking Statements

This Report contains forward-looking statements that are based on management's current expectations, estimates and projections. Words such as "expects," "anticipates," "intends," "plans," "believes", "projects" and "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and are subject to the safe harbors created thereby. These statements are not guarantees of future performance and involve risks and uncertainties and are based on a number of assumptions that could ultimately prove inaccurate and, therefore, there can be no assurance that they will prove to be accurate. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company's oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company's ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected.


Contacts

Connie Ng, (713) 735-0000 ext 6416

HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of November 2022. Unitholders of record on November 30, 2022 will receive distributions amounting to $0.185205910 per unit, payable on January 31, 2023. The Trust received $265,426, which came from the New Mexico portion of the Trust’s San Juan Basin properties operated by Hilcorp San Juan LP, an affiliate of Hilcorp Energy Company and $105,067 which came from the Hugoton Royalty properties operated by Scout Energy Group V, LP. No income was received in November 2022 from the Colorado portion of the Trust’s San Juan Basin properties operated by SIMCOE LLC, an affiliate of IKAV Energy Inc or from the Colorado portion of the Trust’s San Juan Basin properties operated by Red Willow Production Company. This month, after the Trust’s withholding for cash reserves and the payment of administrative expenses, income from the distributable net profits was $345,148.

The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. In addition, as further described in the Trust’s most recent filing on Form 10-Q, distributions to unitholders are expected to be materially reduced during 2022, as the Trust intends to increase cash reserves to a total of $2.0 million to provide added liquidity.

Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.

This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, prices received by working interest owners and other risks described in the Trust’s Form 10-K for the year ended December 31, 2021. Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.


Contacts

Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020

http://mtr.q4web.com/home/default.aspx

DUBLIN--(BUSINESS WIRE)--The "Global Solar Panel Recycling Market 2022-2026" report has been added to ResearchAndMarkets.com's offering.


The solar panel recycling market is poised to grow by $312.17 mn during 2022-2026, accelerating at a CAGR of 26.01% during the forecast period. The report on the solar panel recycling market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by reduction in costs of solar PV systems, growth in solar PV panel installation, and government regulations pertaining to solar waste recycling.

The solar panel recycling market is segmented as below:

By Product

  • Crystalline
  • Thin-film

By Geographical Landscape

  • Europe
  • APAC
  • North America
  • Middle East and Africa
  • South America

This study identifies the increasing investment in renewable energy sources as one of the prime reasons driving the solar panel recycling market growth during the next few years. Also, rise in popularity of the pay-as-you-go (PAYG) solar business model and the development of zero-energy buildings will lead to sizable demand in the market.

The report on the solar panel recycling market covers the following areas:

  • Solar panel recycling market sizing
  • Solar panel recycling market forecast
  • Solar panel recycling market industry analysis

Key Topics Covered:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

Companies Mentioned

  • EIKI Trading Co. Ltd.
  • Canadian Solar Inc.
  • Dynamic Lifecycle Innovations
  • ENVARIS GmbH
  • Etavolt Pte. Ltd.
  • First Solar Inc.
  • Poseidon Solar Services Pvt. Ltd.
  • PV Industries Pty Ltd
  • Reclaim PV Recycling Pty Ltd.
  • Recycle Technologies Inc.
  • Reiling GmbH and Co. KG
  • Reliance Industries Ltd.
  • REMA System AS
  • Rieger and Kraft Solar GmbH
  • Rinovasol Global Services BV
  • ROSI SAS
  • SILCONTEL Ltd.
  • Sofina SA
  • Targray Technology International Inc.
  • Veolia Environment SA

For more information about this report visit https://www.researchandmarkets.com/r/krrbyf


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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For GMT Office Hours Call +353-1-416-8900

DUBLIN--(BUSINESS WIRE)--The "LPG Market Outlook" report has been added to ResearchAndMarkets.com's offering.


Featuring proprietary supply, demand and trade forecasts, this new outlook provides insight into changing trends and market patterns, allowing market participants to identify and take advantage of opportunities in the global LPG market.

The LPG Market Outlook provides a reliable, forward-looking perspective that empowers users to make critical business decisions with confidence. The publisher has been a trusted advisor to the LPG industry since the 1970s. With unrivalled expertise and the most capable team of LPG professionals in the world, the publisher is pleased to bring its wealth of knowledge to clients.

Market Insight

The LPG Market Outlook identifies where patterns of demand are changing, when demand is likely to be higher, the timing of market dynamics, the scope of shifts in demand and forward-looking arbitrage opportunities.

Unmatched Expertise

The publisher's many years of experience in LPG markets provides a deep understanding of the competitive landscape. Whether it's shipping operations, planning and logistics, cancellations, the impact of external events - weather, outages, politics or oil price spikes and more - put the publisher's insight to work for you.

Identifying Demand-Side Opportunities

The LPG Market Outlook includes 18-month demand forecasts for all major LPG importers, allowing market participants to focus on countries where there may be opportunities to sell. Information about demand changes due to seasonality, petrochemical expansions, turnarounds and overall growth high-light opportunities in importing countries.

The LPG Market Outlook identifies where patterns of demand are changing, when demand is likely to be higher, the timing of markets dynamics, the scope of shifts in demand and forward-looking arbitrage opportunities. LPG Market Outlook includes insight on trade patterns and flows, exports and imports by country and region.

In addition to the monthly report, clients receive an Excel data supplement with supply by source, total trade and domestic demand for key countries, enabling users to adjust the forecasts in line with their own books.

Key Topics Covered:

  1. Global Overview
  2. Norway/Russia
  3. United States
  4. Italy/UK
  5. Portugal/Japan
  6. India/Canada
  7. Economics

For more information about this report visit https://www.researchandmarkets.com/r/5a6b6s


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Achievement recognizes Voya’s commitment to diversity of leadership in its legal department and outside counsel firms


NEW YORK--(BUSINESS WIRE)--$Voya #DEI--Voya Financial, Inc. (NYSE: VOYA) announced today that it has achieved Mansfield Rule: Legal Department Edition (MRLD) 2.0 Certification. The certification is a recognition of Voya’s purposeful and ongoing efforts to expand the slate of diverse lawyers considered for internal leadership roles or outside counsel representation.

“Voya’s long-standing commitment to welcoming different perspectives at every level of our organization is grounded in the belief that inclusion leads to better outcomes for our customers, employees and communities,” said My Chi To, chief legal officer, Voya Financial. “We will continue to work to enhance our diversity, equity and inclusion efforts through recruiting, training and mentoring, and look to our outside counsel firms to do the same.”

The Mansfield Rule aims to increase and sustain diversity in leadership within legal departments by considering at least 50% historically underrepresented lawyers — women lawyers, LGBTQ+ lawyers, lawyers with disabilities and/or underrepresented racial and/or ethnic lawyers — for senior and top attorney job openings, discretionary high-visibility opportunities, and with outside counsel representation. Legal departments also must create and publish job descriptions and advancement criteria for leadership roles.

"As a purpose-driven company, our diversity, equity and inclusion (DEI) efforts span all levels and areas of our company, strengthening our culture and employee well-being, which is ultimately reflected in how we serve our customers and our communities,” said Angela Harrell, chief diversity and corporate impact officer. “The tenets of the Mansfield Rule and our legal department’s intentional focus on the diversity of its leadership and outside counsel reinforce our commitment to integrate DEI across our enterprise.”

The MRLD is a rigorous, two-year certification program that aims to boost and sustain diversity in legal department leadership.1 To achieve MRLD 2.0 Certification, Voya’s legal department collaborated with Diversity Lab over a 24-month certification period with built-in measurement, transparency and accountability mechanisms. Legal departments also must share lessons learned through monthly knowledge sharing forums, to ensure that all departments are working as a community to move the needle on DEI in the legal profession, and they must meet check-in, data-collection and reporting milestones.

“We are incredibly proud to have worked alongside these Mansfield 2.0 Certified legal departments over the past two years," said Valerie Portillo, legal department director, Diversity Lab. “Attaining certification is hard work, and we're thrilled to shine a spotlight on this community of legal departments and dedicated in-house leaders as an example of what collective action can achieve."

Learn more about the Mansfield Rule and see the full list of MRLD 2.0 Certified legal departments in this open letter from the 2020-2022 Mansfield Legal Department Leaders.

About Voya Financial®

Voya Financial, Inc. (NYSE: VOYA) is a leading health, wealth and investment company that provides products, solutions and technologies that enable a better financial future for its clients, customers and society. Serving the needs of 14.3 million individual, workplace and institutional clients, Voya has approximately 6,000 employees and had $711 billion in total assets under management and administration as of September 30, 2022. Certified as a “Great Place to Work” by the Great Place to Work® Institute, Voya is purpose-driven and equally committed to conducting business in a way that is socially, environmentally, economically and ethically responsible. Voya has earned recognition as: one of the World’s Most Ethical Companies® by the Ethisphere Institute; a member of the Bloomberg Gender-Equality Index; and a “Best Place to Work for Disability Inclusion” on the Disability Equality Index. For more information, visit voya.com. Follow Voya Financial on Facebook, LinkedIn and Twitter @Voya.

  1. The Mansfield Rule: Legal Department Edition (MRLD) 2.0 Certification period ran from July 1, 2020 through June 30, 2022. Voya did not pay to be considered for the certification.

VOYA-IR VOYA-CR


Contacts

Media:
Kathryn Emery
Voya Financial
Office: (860) 580-2980
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Drivers of the automaker’s first all-electric SUV will have the option to redeem the EVgo charging credit or a home charger installation credit

LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO) (EVgo), one of the nation’s largest public fast charging networks for electric vehicles (EVs), announced a commercial agreement with Subaru of America, Inc. to provide drivers of the 2023 Solterra EV SUV with the option to receive a $400 charging credit on the EVgo public fast charging network. This announcement follows the company’s previous news of becoming Subaru’s preferred EV charging partner in the beginning of 2022.



“Subaru and EVgo share a commitment to delivering first-in-class customer experiences and combatting climate change,” said Jonathan Levy, Chief Commercial Officer at EVgo. “It’s a natural fit for Subaru and EVgo to bring Solterra drivers a convenient and reliable charging experience on EVgo’s network as they start their electric journey.”

Customers who purchase or lease a new 2023 Subaru Solterra EV SUV will have the option to select $400 of pre-paid charging credits with EVgo* or a home charger installation credit. Solterra customers will receive an email from Subaru to redeem their credit of choice.

With EVgo’s more than 850 public fast charging locations and 1,200+ L2 charging stalls, Subaru drivers will have access to more than 46,000 L2 and DC fast charge public chargers through EVgo, and its roaming partners at convenient locations across the U.S. Subaru EVgo account holders can also enjoy a seamless charging experience with Autocharge+ and 24/7 customer support from the EVgo Charging Crew while on their urban and outdoor adventures.

“With the upcoming deliveries of the Solterra, we wanted to help provide a seamless ownership experience for drivers, and we knew that EVgo provided a strong platform for our customers,” said Robert Brennan, Electric Vehicle Sales Strategy Manager at Subaru. “Our collaboration with EVgo to offer a $400 EVgo charging credit gives our drivers more confidence in their transition to electric and the ability to choose the charging option that best fits their lifestyle.”

EVgo’s industry-leading network is powered by 100% renewable electricity, providing environmentally conscious drivers even more peace of mind. To date, EVgo stations have powered more than 280 million electric miles.

For more information around the locations of fast chargers within EVgo’s charging network, visit www.evgo.com.

*Receive $400 charging credit on the EVgo network with the purchase or lease of a new model year 2023 Subaru Solterra. The $400 complimentary credit will be applied to EVgo per-minute or per-kwh (in select regions) prepaid rates (plus applicable taxes and fees) on EVgo chargers only. Charging rates will vary by region and can be found at evgo.com/pricing. All rates are subject to change. Rates and fees will vary on non-EVgo chargers accessible through the EVgo app. Please see walk-up rates at non-EVgo chargers through the EVgo app prior to initiating a charging session. At the expiration of the offer (two years from date of purchase/lease), customer will roll over to a Pay As You Go Plan. Customers are responsible for any and all charging costs beyond the credit.

About Subaru of America, Inc.
Subaru of America, Inc. (SOA) is a wholly owned subsidiary of Subaru Corporation of Japan. Headquartered at a zero-landfill office in Camden, N.J., the company markets and distributes Subaru vehicles, parts and accessories through a network of more than 630 retailers across the United States. All Subaru products are manufactured in zero-landfill plants and Subaru of Indiana Automotive, Inc. is the only U.S. automobile manufacturing plant to be designated a backyard wildlife habitat by the National Wildlife Federation. SOA is guided by the Subaru Love Promise, which is the company's vision to show love and respect to everyone, and to support its communities and customers nationwide. Over the past 20 years, SOA and the SOA Foundation have donated more than $270 million to causes the Subaru family cares about, and its employees have logged nearly 78,000 volunteer hours. As a company, Subaru believes it is important to do its part in making a positive impact in the world because it is the right thing to do.

For additional information visit media.subaru.com. Follow us on Facebook, Twitter, and Instagram.

About EVgo
EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since its founding in 2010, EVgo has led the way to a cleaner transportation future and its network has been powered by 100% renewable energy since 2019 through renewable energy certificates. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network features over 850 fast charging locations – currently serving over 60 metropolitan areas across more than 30 states – and continues to add more DC fast charging locations through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables world-class charging experience where drivers live, work, travel and play.


Contacts

For Investors:
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NEW YORK & SYDNEY & MELBOURNE, Australia--(BUSINESS WIRE)--Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Spirit Super, an Australian industry super fund, today announced the signing of a definitive agreement to acquire 100% of Australia’s GeelongPort Pty Limited (“GeelongPort”). GeelongPort is Victoria’s second largest port located approximately 75 kilometers southwest of Melbourne within Victoria’s largest regional city, Geelong. Under the terms of the agreement, Stonepeak, on behalf of its managed funds and accounts, will hold a majority 70% interest in the entity and Spirit Super will have a 30% stake.


GeelongPort is a diversified landlord port and a major driver of Victoria’s economy, managing over A$7 billion of trade and supporting more than 1,800 jobs across the state. We believe the location of GeelongPort makes it of high strategic significance, as it provides easy access to logistics routes for trade through critical road, rail, air, and channel connections for Geelong and south-west Victoria’s supply chains.

Stonepeak and Spirit Super’s long-term investment horizon and strong focus on operations will, in our view, support GeelongPort in its continued efforts to grow and deepen relationships with key customers and business partners. For over 150 years, GeelongPort has played a fundamental role in the Victorian economy with operations underpinned by long-dated, blue-chip public and private contracts, including the Spirit of Tasmania operated by TT Line.

GeelongPort comprises 15 berths over two primary precincts, Corio Quay and Lascelles Wharf, providing land, infrastructure, and services to facilitate trade for some of Victoria’s largest businesses. GeelongPort handles close to 12 million tonnes of cargo and more than 600 vessel visits each year.

As a high-quality landlord port with operations that are critical to Australia’s economy, GeelongPort is a natural fit for Stonepeak’s core infrastructure strategy,” said Darren Keogh, Senior Managing Director at Stonepeak. “It is a highly contracted entity with strong barriers to entry and stable and predictable demand drivers, which we believe are even more compelling when coupled with the port’s meaningful opportunities for long-term growth through additional development to meet future import-export demand in the region. We look forward to working closely with the GeelongPort team to help further their objectives and invest behind this integral component of the Victorian economy.”

We are excited for what our investment will mean for the long-term growth of GeelongPort and pleased that members will now own a direct stake in one of Australia's largest regional infrastructure assets,” said Ross Barry, Chief Investment Officer at Spirit Super. “As the fund for hard working Australians, a key investment focus for the fund has been regional Australia, where we believe there is strong potential for long-term growth.”

The transaction is expected to close towards the end of the first quarter of 2023, subject to customary regulatory approvals.

The Consortium were advised by Gresham Partners acting as financial advisor, King & Wood Mallesons as legal advisor and Clayton Utz as tax advisor.

About Stonepeak

Stonepeak is a leading alternative investment firm specialising in infrastructure and real assets with approximately US$51.7 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy transition, transport and logistics, and social infrastructure. Stonepeak is headquartered in New York with offices in Austin, Hong Kong, Houston, London, and Sydney. For more information, please visit www.stonepeak.com.

About Spirit Super

Spirit Super was established in 2021 through the merger of Tasplan and MTAA Super. As an industry fund for hard working Australians, they are focused on growing membership in rural and regional Australia. Spirit Super has over 324,000 members and $25 billion in funds under management.


Contacts

Stonepeak
Kate Beers
+1 (646) 540-5225
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Spirit Super
David Imber
+61 (0)413 274 204
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Citadel-MAGNUS
James Strong
+61 (0)448 881 174
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Jack Gordon
+61 (0)478 060 362
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AED 2.5 Billion Strategic Investment also Offers Exposure to Maritime Activities in the Mediterranean Region and Port Facilities in Spain

ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--AD Ports Group (ADX: ADPORTS) today announced that it has acquired Noatum, a global integrated logistics platform with a presence in 26 countries and LTM revenue and EBITDA of AED 6.91 billion (EUR 1.80 billion) and AED 555 million (EUR 145 million), respectively.


The total purchase consideration (Enterprise Value) for 100% ownership amounts to AED 2.5 billion (EUR 660 million), implying an LTM EV/EBITDA of 4.6x. This value and earnings accretive acquisition, which significantly broadens AD Ports Group’s global footprint and positions it among the leading logistics and freight forwarding companies in the world, will be fully funded through a new acquisition loan.

Recognising Noatum’s high growth potential and capacity to scale, AD Ports Group intends to create a market-leading international logistics brand, merging its existing logistics business with Noatum to create a significant presence in the region and enhancing services across the company’s global footprint. Moving forward, Noatum will lead AD Ports Group’s Logistics Cluster, consolidating the company’s existing logistics offering into its operations.

This will be AD Ports Group’s third major international acquisition in 2022, following the acquisition of a 70 percent equity stake in Transmar and TCI in September, and the announcement in November of its acquisition of an 80% equity stake in Dubai-based Global Feeder Shipping (GFS).

Noatum, whose origins date back to 1963, operates in three business areas – Logistics, Maritime, and Port Terminals – with market-leading positions in Spain and Turkey and a significant presence in the US, UK, China, and Southeast Asia.

Noatum’s global Logistics business specialises in comprehensive freight management, project logistics, contract logistics, international supply chain management, customs, and e-solutions, with offices and a wide network of agents around the world.

In particular, Noatum has advanced capacities in heavy lift logistics, which AD Ports Group aims to bring to the region.

The company’s Terminals operations include 15 Ro-Ro, dry bulk, general cargo and container terminals in Spain, supported by highly professional management, while its Maritime division provides shipping agency services, including outsourcing and ancillary services, and cargo services, such as liquid bulk, breakbulk cargo, reefer and dry cargo.

Despite its geographical diversification, the majority (75%) of Noatum’s revenues are EUR and USD denominated.

The company, which employs more than 2,600 professionals, provides tailored multi-modal transport solutions, comprehensive logistics services, and advanced port operations across its key markets, and aligns well with AD Ports Group’s integrated business model.

In addition, the company has specialised automotive, project cargo, and port logistics divisions and offers comprehensive supply chain solutions in the oil & gas, renewable energies, food, industrial manufacturing, pharma and healthcare, and retail industries with customised solutions for clients.

Some of the revenue and costs synergies of the acquisition include joint purchasing, stronger relationships with shipping lines to attract them to the group’s terminals, expansion of the agency business by leveraging Noatum’s Maritime business, integration of corporate services and functions, transfer of best practices, and best-in-class technology.

Subject to regulatory approvals, the transaction is expected to close in H1 2023. As part of the transaction, Noatum’s management is locked in for a period of three years to ensure smooth integration.

H.E. Falah Mohammed Al Ahbabi, Chairman of AD Ports Group, said: “Under the direction of our wise leadership, AD Ports Group continues to extend our global footprint through value-adding acquisitions and partnerships with market leaders. This ambitious acquisition brings a major global logistics platform into the AD Ports Group family, significantly enhancing our global connectivity and extending the range of maritime, logistics and ports solutions we can offer as we continue to pursue a determined strategy for growth. This acquisition makes AD Ports Group one of the most significant global players in the finished vehicle logistics, which we intend to expand in our home and core markets.”

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “We thank the leadership of the UAE for their guidance and support for this historic acquisition, which is set to be one of the most significant in the industry this year. Bringing Noatum into our integrated network of businesses will add scale and new layers of expertise, supporting both our global ambitions and our contribution to economic diversification within the UAE. Noatum operates an asset-light model with a high cash conversion rate and will make an immediate contribution to our financials, at the same time as positioning us for international expansion. We will leverage the acquisition of Noatum to build a strong international logistics brand with deep roots in this region.”

Rothschild & Co acted as the financial advisor and A&O as the legal advisor while Bain & Co completed the commercial due diligence and PwC the financial and tax due diligence for AD Ports Group in this transaction.

About AD Ports Group:

For more information, please visit: adportsgroup.com

Follow AD Ports Group on:

LinkedIn: https://www.linkedin.com/company/adportsgroup

Instagram: https://instagram.com/adportsgroup

Facebook: https://www.facebook.com/adportsgroup

Twitter: https://twitter.com/adportsgroup

YouTube: https://www.youtube.com/c/adportsgroup

*Source: AETOSWire


Contacts

Sana Maadad
Director Corporate Communications - AD Ports Group
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+971 50 625 0890

Or

AD Ports Media Office
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TORONTO & SUDBURY, Ontario--(BUSINESS WIRE)--The United Steelworkers union welcomes the news of the new deal by Vale Canada to supply battery-grade nickel sulfate to General Motors (GM) to manufacture electric vehicles.

The nickel that Vale will be providing GM will be mined in Canada, from Vale operations in Sudbury, Ont., Voisey’s Bay, N.L. and Thompson, Man., with Steelworkers members. The nickel may then be sent to a plant in Becancour, Que.

“Steelworkers are vital members of the communities we live in. As a union, we strive to support and give back to our communities and this is made possible when our jobs are supported,” said Nick Larochelle, USW Local 6500 President.

USW represents almost 5,000 Canadian members that are employed by Vale. In Sudbury, USW Local 6500’s 2,700 members primarily mine, mill and smelt nickel, but also mine copper, cobalt, precious metals, gold and silver.

This contract calls for nickel supply for up to 350,000 electric vehicles a year could certainly mean a direct increase in Vale productions across Canada. Indirectly, workers, their families and their communities will also see an added benefit when healthy, union jobs are around.

“I am thrilled this contract between Vale and General Motors supports and protects good local union jobs as well as creating new jobs at the same time. I am confident that our members are up to the challenge and will deliver,” said Myles Sullivan, District 6 Director (Ontario and Atlantic Canada).

The new deal also supports a green shift needed to reduce greenhouse gasses and pollution. The USW has been a vocal advocate in mitigating a further climate crisis through Just Transition, while at the same time ensuring that workers are not left behind and sustainable work also means good-paying, family-sustaining unions jobs.

The United Steelworkers union represents 225,000 members in nearly every economic sector across Canada and is the largest private-sector union in North America with 850,000 members in Canada, the United States and the Caribbean.

Each year, thousands of workers choose to join the USW because of its strong track record in creating healthier, safer and more respectful workplaces and negotiating better working conditions and fairer compensation – including good wages, benefits and pensions.


Contacts

For more information, please contact:
Myles Sullivan, USW District 6 Director, 416-243-8792;
Nick Larochelle, USW Local 6500 President, 705-675-3381
Shannon Devine, USW Communications, (cell) 416-938-44027

THE WOODLANDS, Texas--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) (the “Company”) today announced that Steven Kobos, President and Chief Executive Officer, will participate in a breakout session at the 2022 Wells Fargo 21st Annual Midstream & Utilities Symposium at 12:55 p.m. Eastern Time on December 7, 2022.


A live audio webcast of the presentation and an archived recording will be available on the Investors page of the Company’s website at www.excelerateenergy.com. Management will also be available onsite for one-on-one and small group meetings with investors.

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.


Contacts

Investors
Craig Hicks
Excelerate Energy
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Media
Stephen Pettibone / Frances Jeter
Sard Verbinnen & Co
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or
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Currents’ platform will help meet the growing demand for end-of-life electric vehicle batteries and improve supply chains

INDIANAPOLIS--(BUSINESS WIRE)--HG Ventures, the corporate venture arm of The Heritage Group, announced today the addition of Currents, a second-life battery marketplace platform, to its growing portfolio.


Currents, a business-to-business marketplace designed for stakeholders throughout the end-of-life electric vehicle (EV) lithium-ion battery supply chain, is a facilitation platform that extends the lives of retired EV batteries, paving the way for a sustainable, renewable future powered by second-life batteries. The platform drives value for buyers by solving pain points around sourcing, while enabling suppliers to scale their operations to the largest available demand pool, fulfilling a real gap in the industry.

Demand for EV batteries has never been higher, but we’re seeing critical materials and EV batteries being dispersed throughout the US at scrap yards with no sustainable solution to properly discard them,” said Nick Arnold, Senior Associate at HG Ventures. “Currents is building a circular marketplace solution to give end-of-life batteries the option to be repurposed into energy storage or recycled. We’re excited to add them to our growing roster of emerging technology companies solving real-world problems.”

The closed-loop model effectively extends the life of valuable battery assets and reduces greenhouse gas emissions created by production. For every one ton of lithium mined, 15 tons of carbon dioxide are emitted. Last year, 11.4 million EV batteries or 100,000 tons of lithium were produced, yet less than 5% of lithium-ion batteries are properly recycled.

Currents provides the channel and solution for the end-of-life lithium supply chain challenged from the growing demand for EV batteries. In the first quarter of 2022, EV sales grew by 60% and demand for EV batteries continues to rise. The rise in demand, coupled with other macroeconomic factors, has caused material prices, including lithium, to skyrocket over the last couple of years. Maximizing the effective life of every battery is of the utmost importance to strengthen our energy independence, unlock the value of renewables, and bolster domestic supply chains.

We’re creating a platform that facilitates and optimizes the end-of-life lithium supply chain to ensure that every battery is handled responsibly while maximizing their lifecycle value,” said Anthony Garbarino, CEO of Currents. “Sustainability, resource and energy independence, and modernizing supply chains are at the forefront of our business model, and we’re excited to launch our platform and drive innovation for stakeholders throughout the value chain. We’re glad HG Ventures recognized this gap in the industry and we’re excited to partner with them to bring our product to market.”

With its partnership with HG Ventures, Currents will be able to leverage The Heritage Group’s network and expertise in the battery industry. HG Ventures is committed to supporting the continued innovation in sustainable battery solutions.

HG Ventures
HG Ventures is the corporate venture arm of The Heritage Group, headquartered in Indianapolis, Ind. HG Ventures supports innovation and growth across The Heritage Group by investing and partnering with innovative, high-growth companies to support a sustainable future. We leverage the world-class expertise of The Heritage Group operating companies and research center to offer a unique value proposition to our portfolio company partners. www.hgventures.com.

Currents
Currents is a B2B facilitation marketplace designed for retired electric vehicle lithium-ion batteries tailor-made for auto OEMs, second life (2L) integrators, and auto recyclers with a mission of enabling the closed loop economic model for all stakeholders. Currents is the safe, trusted sales channel that will provide the platform needed to build a sustainable, renewable future powered by second life batteries.


Contacts

Media
Regan Keller
Vice President of Cleantech
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HAMILTON, Bermuda--(BUSINESS WIRE)--Friday, November 18, 2022 – Triton International Limited (NYSE: TRTN) today announced that Michael Pearl has been appointed Triton’s Chief Financial Officer, effective January 1, 2023. Mr. Pearl currently serves as Triton’s Senior Vice President, Treasurer. He will succeed John Burns, who as previously announced, will retire at the end of 2022 after more than 25 years with Triton. Mr. Burns will remain with Triton in a consulting role following his retirement to ensure a smooth transition.


Mr. Pearl joined Triton in 2009 and has led the company’s Treasury function since 2016. He played an integral role in helping to drive the successful Triton-TAL merger integration and has also been responsible for other significant areas within the finance organization, including credit and risk management, business development and financial planning and analysis. Before Triton, Mr. Pearl worked for a number of companies in the financial sector, including National City Bank, Wachovia Bank, and S&P Global. Mr. Pearl received an M.B.A. from the University of Michigan and a B.A. from Colby College.

Brian Sondey, Chief Executive Officer of Triton commented “Michael has been a significant contributor to the success of our company. He was instrumental in transforming and strengthening our capital structure over the last few years and driving significant improvements in our borrowing costs. Michael’s appointment reflects the deep bench of talent we have developed at Triton, and he will have an exceptional team supporting him in his new role. We look forward to benefitting from Michael’s experience and capabilities as we continue to build on our strong financial position and create value for our shareholders.”

Mr. Sondey added, “I also want to again thank John for his many contributions to Triton as an exceptional and valued leader, colleague and friend. We are truly grateful for his service and wish him all the best in his well-deserved retirement.”

About Triton International Limited

Triton International Limited is the world’s largest lessor of intermodal freight containers. With a container fleet of over 7 million twenty-foot equivalent units ("TEU"), Triton’s global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis.

Important Cautionary Information Regarding Forward-Looking Statements

Certain statements in this release, other than purely historical information, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, 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 include, among others, statements relating to Triton’s business, future performance and the management transition discussed in this release. Statements that include the words "expect," "intend," "plan," "seek," "believe," "project," "predict," "anticipate," "potential," "will," "may," "would" and similar statements of a future or forward-looking nature may be used to identify forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties, many of which are beyond Triton's control. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements. These factors include, without limitation, economic, business, competitive, market and regulatory conditions; risks related to management transitions; and other risks and uncertainties, including those set forth in the section entitled “Risk Factors” in our most recent annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) and subsequent filings with the SEC. Except to the extent required by applicable law, we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.


Contacts

Andrew Greenberg
Senior Vice President
Business Development & Investor Relations
(914) 697-2900

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