• H&P announced its fiscal 2023 Supplemental Shareholder Return Plan⁽¹⁾, which is currently projected to provide nearly $210 million combined in established base and supplemental dividends in fiscal year 2023
• The Company reported fiscal fourth quarter and fiscal year net income of $0.42 and $0.05 per diluted share respectively, including select items⁽²⁾ of $(0.03) and $(0.05) per diluted share respectively
• Quarterly North America Solutions operating income increased $35 million sequentially, while direct margins⁽³⁾ increased $36 million to approximately $203 million, as revenues increased by $66 million to $552 million and expenses increased by $30 million to $349 million
• The North America Solutions segment exited the fourth quarter of fiscal year 2022 with 176 active rigs reflecting an increase in revenue per day of approximately $3,000/day or 11% to $29,500/day on a sequential basis, while direct margins⁽³⁾ per day increased by roughly $2,000/day or almost 20% to $12,600/day
• H&P's North America Solutions segment anticipates exiting the first quarter of fiscal year 2023 between 181-186 active rigs with expected direct margins⁽³⁾ per day increasing by another 20% on a sequential basis and expects to reach a maximum active rig count for fiscal year 2023 of 192 rigs by March 31, 2023
• H&P set its fiscal year 2023 capex budget to range between $425 and $475 million
• On September 7, 2022, the Board of Directors of the Company declared a quarterly base cash dividend of $0.25 per share, and on October 17, 2022 declared a supplemental cash dividend of $0.235 per share; both dividends are payable on December 1, 2022 to stockholders of record at the close of business on November 15, 2022

TULSA, Okla.--(BUSINESS WIRE)--Helmerich & Payne, Inc. (NYSE: HP) reported net income of $46 million, or $0.42 per diluted share, from operating revenues of $631 million for the quarter ended September 30, 2022, compared to net income of $18 million, or $0.16 per diluted share, from operating revenues of $550 million for the quarter ended June 30, 2022. The net income per diluted share for the fourth and third quarters of fiscal year 2022 include $(0.03) and $(0.11) of after-tax losses, respectively, comprised of select items⁽²⁾. For the fourth quarter of fiscal year 2022, select items⁽²⁾ were comprised of:

• $0.03 of after-tax gains pertaining to the sale of equipment and non-cash fair market adjustments to equity investments
• $(0.06) of after-tax losses pertaining to a lump sum settlement for a distribution from the pension plan

Net cash provided by operating activities was $117 million for the fourth quarter of fiscal year 2022 compared to $98 million for the third quarter of fiscal year 2022.

For fiscal year 2022, the Company reported net income of $7 million, or $0.05 per diluted share, from operating revenues of $2.1 billion. The net income per diluted share includes $(0.05) of after-tax losses comprised of select items⁽²⁾. Net cash provided by operating activities was $234 million in fiscal year 2022 compared to $136 million in fiscal year 2021.

President and CEO John Lindsay commented, "Supportive market conditions and our adherence to our business and capital allocation strategy have led to sequentially improving quarterly results in fiscal 2022. We are beginning to recognize economic returns at levels that we have not experienced since 2014. As such, we believe there is significant momentum heading into fiscal 2023, and we plan to continue a posture of fiscal discipline, move forward with our supplemental shareholder return plan, and further implement our strategic initiative to expand internationally. These actions align with the Company's history of financial stewardship by increasing the Company's financial returns through long-term investment in the business and increasing cash returns to shareholders through the augmentation of our long-standing dividend commitment.

"Customer demand during the fourth fiscal quarter was satisfied by contractual churn and by reactivating one rig out of stack early in the quarter as expected. Our financial results improved substantially quarter over quarter as pricing increases and better contract economics took hold across more of our FlexRig® fleet. We anticipate a modest 16 rig uplift in our NAS rig count in fiscal 2023 of which roughly two-thirds are already committed and to attain a maximum of 192 active rigs for fiscal 2023 sometime during the second fiscal quarter of 2023. As in prior years, we expect our 2023 rig adds to be weighted toward the front half of the fiscal year, and do anticipate experiencing additional contractual churn throughout the year. We expect our financial results for the first fiscal quarter of 2023 to follow the improving trend of the past two fiscal quarters, where strong demand from customers coupled with rollovers of term contracts, should continue to drive higher average levels of pricing across the active fleet.

"For our International Solutions segment, the Company plans to deploy capital in preparation for more substantive growth in the future. We are seeing opportunities to bid in areas of existing operations as well as in countries that would be new to H&P. Most of these tenders are taking place where unconventional drilling is in its nascent stages, such as in the Middle East, and where we believe our proven drilling solutions can provide a lot of value to customers. We believe our international business is an important avenue of growth for the future and serves as a potential outlet for some of our currently idle super-spec rigs in the U.S. This initiative also adds more diversification to the Company's revenue streams over the long-term and this current allocation of investment capital plays an important part in executing on this strategy."

Senior Vice President and CFO Mark Smith also commented, "Maintaining economic discipline in our capital-intensive business remains paramount, and has resulted in increased capital efficiency and a positive impact on our financial returns. The Company will continue to allocate capital with this mindset. Our North America Solutions direct margins continue to improve, led by our fiscal discipline and robust pricing despite the current inflationary and supply chain challenges, which have been more apparent as of late with a labor-related cost increase just at the end of the fiscal fourth quarter and in our recently announced fiscal 2023 capex budget reflecting higher levels of maintenance expenditures.

"Looking out to fiscal 2023, we expect to see increased profitability for the Company propelling us forward to execute on other strategic capital allocation priorities, such as the recently announced 2023 supplemental shareholder return plan and diversification through further investment in our international operations. We believe both provide incremental returns; one that is more near-term and one that will develop over time. Even beyond these planned capital commitments, the Company should have flexibility to be positioned to take advantage of additional investment opportunities and/or further augment shareholder returns through additional supplemental dividends and/or share repurchases. Essentially in fiscal 2023, we plan to allocate roughly two-thirds of our cash flow generation after capex commitments to shareholders in the form of base and supplemental dividends, which would currently represent an approximate dividend yield of 4%, very competitive for our industry. The remaining one-third we believe, should give us an adequate amount of flexibility. This is further testament to the Company's strong cash flow generation and financial position."

John Lindsay concluded, “We enter fiscal 2023 with momentum and increased confidence that our initiatives in our North America Solutions segment have gained traction and are delivering positive financial results. We are also excited by the prospects and opportunities before us, particularly in our International Solutions segment. The successes the Company has achieved and plans to achieve would not be possible without our devoted and hard-working employee base, which I am proud to say continues to set the standard for our industry."

Operating Segment Results for the Fourth Quarter of Fiscal Year 2022

North America Solutions:

This segment had operating income of $92.1 million compared to operating income of $57.4 million during the previous quarter. The increase in operating income was primarily due to improving contract economics as market pricing continued to increase coupled with term contracts rolling onto market rates.

Direct margins⁽³⁾ increased by $35.9 million to $203.5 million as both revenues and expenses increased sequentially. Quarterly operating results were impacted by the costs associated with reactivating rigs; $7.5 million in the fourth fiscal quarter compared to $6.5 million in the previous quarter.

International Solutions:

This segment had an operating loss of $0.8 million compared to an operating loss of $6.6 million during the previous quarter. The decrease in operating loss is primarily attributable to increased activity in Latin America, particularly with operations in Argentina.

Direct margins⁽³⁾ during the fourth fiscal quarter were $3.3 million compared to a negative $3.2 million during the previous quarter. Current quarter results included a $1.2 million foreign currency loss compared to a $1.1 million foreign currency loss in the previous quarter.

Offshore Gulf of Mexico:

This segment had operating income of $6.6 million compared to operating income of $5.9 million during the previous quarter. Direct margins⁽³⁾ for the quarter were $9.4 million compared to $8.8 million in the prior quarter.

Operational Outlook for the First Quarter of Fiscal Year 2023

North America Solutions:

• We expect North America Solutions direct margins⁽³⁾ to be between $250-$270 million, which includes approximately $8.5 million in estimated reactivation costs
• We expect to exit the quarter between approximately 181-186 contracted rigs

International Solutions:

• We expect International Solutions direct margins⁽³⁾ to be between $7-$10 million, exclusive of any foreign exchange gains or losses
• International Solutions direct margins⁽²⁾ are expected to be reduced by operating costs related to establishing our Middle East hub

Offshore Gulf of Mexico:

• We expect Offshore Gulf of Mexico direct margins⁽³⁾ to be between $8-$10 million

Other Estimates for Fiscal Year 2023

• Gross capital expenditures are expected to be approximately $425 to $475 million;
  • approximately two-thirds expected for North America Solutions, including maintenance per active rig of $1.1 to $1.3 million and reactivating up to 16 super-spec rigs of which six are planned walking conversions
  • approximately one-quarter for International Solutions, including five super-spec upgrades and six reactivations that will be also converted to walking capabilities for export from the U.S. fleet
  • remainder for corporate and information technology expenditures
  • ongoing asset sales include reimbursements for lost and damaged tubulars and sales of other used drilling equipment that offset a portion of the gross capital expenditures and are expected to total approximately $50 million in fiscal year 2023
• Depreciation for fiscal year 2023 is expected to be approximately $400 million
• Research and development expenses for fiscal year 2023 are expected to be roughly $28 million
• General and administrative expenses for fiscal year 2023 are expected to be approximately $195 million
• Cash taxes for fiscal year 2023 are expected to be approximately $190-$240 million
  • inclusive of approximately $45 million relating to fiscal year 2022 amounts to be paid in fiscal 2023
  • exclusive of roughly $28 million in income tax receivables of which $25 million was already received during the fiscal first quarter of 2023

Select Items⁽²⁾ Included in Net Income per Diluted Share

Fourth quarter of fiscal year 2022 net income of $0.42 per diluted share included $(0.03) in after-tax losses comprised of the following:

• $0.02 of non-cash after-tax gains related to fair market value adjustments to equity investments
• $0.01 of after-tax gains related to the sale of equipment
• $(0.06) of after-tax losses related to a lump sum settlement for a distribution from the pension plan

Third quarter of fiscal year 2022 net income of $0.16 per diluted share included $(0.11) in after-tax losses comprised of the following:

• $(0.11) of non-cash after-tax gains related to fair market value adjustments to equity investments
• $(0.00) of after-tax losses related to restructuring charges

Fiscal year 2022 net income of $0.05 per diluted share included $(0.05) in after-tax losses comprised of the following:

• $0.42 of non-cash after-tax gains related to fair market value adjustments to equity investments
• $0.13 of after-tax gains related to a settlement of a previous contractual dispute with an international customer
• $(0.01) of after-tax losses related to restructuring charges
• $(0.03) of after-tax losses related to the sale of equipment
• $(0.03) of non-cash after-tax losses for impairments related to fair market value adjustments to decommissioned rigs and equipment that are held for sale
• $(0.06) of after-tax losses related to a lump sum settlement for a distribution from the pension plan
• $(0.47) of after-tax losses related to a debt make-whole premium and write-off of debt discount and issuance costs

Conference Call

A conference call will be held on Thursday, November 17, 2022 at 11:00 a.m. (ET) with John Lindsay, President and CEO, Mark Smith, Senior Vice President and CFO, and Dave Wilson, Vice President of Investor Relations, to discuss the Company’s fourth quarter fiscal year 2022 results. Dial-in information for the conference call is (877) 830-2596 for domestic callers or (785) 424-1877 for international callers. The call access code is ‘Helmerich’. You may also listen to the conference call that will be broadcast live over the Internet by logging on to the Company’s website at http://www.helmerichpayne.com and accessing the corresponding link through the investor relations section by clicking on “Investors” and then clicking on “News and Events - Events & Presentations” to find the event and the link to the webcast.

About Helmerich & Payne, Inc.

Founded in 1920, Helmerich & Payne, Inc. (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. At September 30, 2022, H&P's fleet included 236 land rigs in the United States, 28 international land rigs and seven offshore platform rigs. For more information, see H&P online at www.helmerichpayne.com.

Forward-Looking Statements

This release includes “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and such statements are based on current expectations and assumptions that are subject to risks and uncertainties. All statements other than statements of historical facts included in this release, including, without limitation, statements regarding the registrant’s business strategy, future financial position, operations outlook, future cash flow, future use of generated cash flow, dividend amounts and timing, supplemental shareholder return plans, share repurchases, investments, active rig count projections, budgets, projected costs and plans, objectives of management for future operations, contract terms, financing and funding, capex spending, outlook for international markets, and actions by customers are forward-looking statements. For information regarding risks and uncertainties associated with the Company’s business, please refer to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s SEC filings, including but not limited to its annual report on Form 10‑K and quarterly reports on Form 10‑Q. As a result of these factors, Helmerich & Payne, Inc.’s actual results may differ materially from those indicated or implied by such forward-looking statements. Investors are cautioned not to put undue reliance on such statements. We undertake no duty to publicly update or revise any forward-looking statements, whether as a result of new information changes in internal estimates, expectations or otherwise, except as required under applicable securities laws.

Helmerich & Payne uses its Investor Relations website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.helmerichpayne.com. Information on our website is not part of this release.

Note Regarding Trademarks. Helmerich & Payne, Inc. owns or has rights to the use of trademarks, service marks and trade names that it uses in conjunction with the operation of its business. Some of the trademarks that appear in this release or otherwise used by H&P include FlexRig, which may be registered or trademarked in the United States and other jurisdictions.

⁽¹⁾ The Company's planned base and supplemental dividends represent our current intention of returning capital to shareholders during fiscal year 2023 based upon our outlook of market and industry conditions at present, including our current expectations surrounding rig pricing, activity levels, margins, cash generation, capital expenditures and other investment opportunities. In determining whether to proceed with the fiscal year 2023 base dividends and the supplemental dividends, management and the Board of Directors will continue to review the Company's financial position and performance together with relative market conditions at that time in order for the Board of Directors to determine the amount, timing and approval of any dividend payments.

⁽²⁾ Select items are considered non-GAAP metrics and are included as a supplemental disclosure as the Company believes identifying and excluding select items is useful in assessing and understanding current operational performance, especially in making comparisons over time involving previous and subsequent periods and/or forecasting future periods results. Select items are excluded as they are deemed to be outside the Company's core business operations. See Non-GAAP Measurements.

⁽³⁾ Direct margin, which is considered a non-GAAP metric, is defined as operating revenues less direct operating expenses and is included as a supplemental disclosure. We believe it is useful in assessing and understanding our current operational performance, especially in making comparisons over time. See Non-GAAP Measurements for a reconciliation of segment operating income(loss) to direct margin. Expected direct margin for the first quarter of fiscal 2023 is provided on a non-GAAP basis only because certain information necessary to calculate the cost comparable GAAP measure is unavailable due to the uncertainty and inherent difficulty of predicting the occurrence and the future financial statement impact of certain items. Therefore, as a result of the uncertainty and variability of the nature and amount of future items and adjustments, which could be significant, we are unable to provide a reconciliation of expected direct margin to the most comparable GAAP measure without unreasonable effort.

Dave Wilson, Vice President of Investor Relations
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(918) 588‑5190

HOUSTON--(BUSINESS WIRE)--On November 16, Air Liquide supported the successful launch of the historic Artemis 1 mission through the supply of high-pressure nitrogen to Launch Complex-39B at Kennedy Space Center in Florida. Air Liquide’s support of NASA’s Artemis program drove an expansion of the capabilities of the Group’s Merritt Island, Florida, site and a renewed ten-year contract with NASA.

Artemis 1 is the first in a series of increasingly complex missions as NASA conducts integrated tests of their deep space exploration systems. The expansion of Air Liquide’s Merritt Island capabilities played a critical role in the launch’s success, as the Artemis launch required nearly double the amount of high-pressure nitrogen than any previous launch. Air Liquide’s flexible and reliable supply of high-pressure nitrogen will help NASA meet its commitment and capability to extend human existence to the Moon and beyond.

In the U.S., for over 50 years, dating back to the Apollo era missions in 1968, Air Liquide has played a valuable role in NASA’s advancement of the U.S. space program through the supply of high pressure nitrogen. The continuous supply of nitrogen has been integral to the lunar missions of the 1970’s, the thirty year Space Shuttle program, the construction of the International Space Station, and most recently the first commercial launches of crew and cargo to orbit from U.S. soil since the shuttle program ended in 2011.

Mike Graff, Chairman & CEO, American Air Liquide Holdings, Inc., said: “Air Liquide is committed to the innovation and advancement of the space program not only in the United States but across the globe. Our expertise in gas applications for the space industry has made Air Liquide a major contributor to space exploration for 60 years. We are proud of the support we are able to provide to an innovative leader like NASA and remain dedicated to delivering operational excellence to the Artemis program and NASA’s pursuit to land the first woman and first person of color on the moon, and to space exploration beyond the moon.”

Air Liquide in the United States

Air Liquide employs more than 20,000 people in the U.S. in more than 1,300 locations and plant facilities including a world-class R&D center. The company offers industrial and medical gases, technologies and related services to a wide range of customers in energy, petrochemical, industrial, electronics and healthcare markets. usa.airliquide.com

A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.

Taking action today while preparing the future is at the heart of Air Liquide’s strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition—particularly with hydrogen—and takes action to progress in areas of healthcare, digital and high technologies.

Air Liquide’s revenue amounted to more than 23 billion euros in 2021. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50 and FTSE4Good indexes.

Corporate Communications
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Investor Relations
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Air Liquide Corporate Communications, Americas
Alyson Bartol
+713-624-8594

New 200 MMcf/d plant will increase Iron Horse’s total processing capacity in the region to 425 MMcf/d

DALLAS--(BUSINESS WIRE)--Iron Horse Midstream (“Iron Horse”) announced today its plans to construct a new, 200 million cubic feet per day (MMcf/d) natural gas cryogenic processing plant on its existing 120-acre complex located in Grady County, Oklahoma, in the heart of the SCOOP/STACK/Merge play in the Anadarko Basin. The new plant, which is expected to be operational in late 2023, will increase Iron Horse’s total natural gas processing capacity in the region to 425 MMcf/d, with the capability for further expansion as driven by customer needs.

“As production activity in this highly prolific area continues to increase, installing our second train is a natural and necessary growth opportunity. Expanding our Iron Horse processing complex provides capacity exactly where it is needed - in the core of the basin, where we have access to numerous high-quality, residue gas markets,” said Tim Roberts, Iron Horse Chief Executive Officer. “We understand that our success is driven by the success of the companies we serve; this expansion is a testament to our continued focus on providing reliable, customized and flexible midstream solutions to our producer customers.”

Iron Horse Midstream currently owns and operates a newly-built, highly efficient natural gas gathering and processing asset in Oklahoma’s SCOOP/STACK/Merge play. The Iron Horse System includes approximately 300 miles of high- and low-pressure natural gas gathering pipelines, multiple compressor stations and the 225 MMcf/d Iron Horse cryogenic gas processing plant.

About Iron Horse Midstream

Based in Dallas, TX, Iron Horse Midstream is focused on natural gas and crude oil midstream services. The company operates a 225 MMcf/d cyrogenic natural gas processing plant located on 120-acre complex in the heart of the SCOOP/STACK/Merge plan in the Anadarko Basin. Iron Horse also operates approximately 300 miles of high and low-pressure natural gas gathering pipelines and multiple compressor stations. For more information on the company, please visit www.ironhorsemidstream.com.

About EnCap Flatrock Midstream

EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to new management teams from EFM Fund IV, a $3.25 billion fund. For more information, please visit www.efmidstream.com.

About NGP

Founded in 1988, NGP is a premier private equity firm with over $20 billion of cumulative equity commitments organized to make strategic investments in the energy industry. For more information visit www.ngpenergycapital.com

Meggan Morrison
Redbird Communications Group
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Industry-leading geothermal expertise enabled evaluation of countrywide geothermal potential to explore decarbonization pathways

HOUSTON--(BUSINESS WIRE)--SLB (NYSE: SLB) is collaborating with Oman’s Ministry of Energy and Minerals and the Oman Investment Authority in building a national strategy to develop the potential of Oman’s geothermal resources.

This announcement follows the completion of an extensive project to evaluate data from more than 7,000 oil, gas and water wells, with the objective of mapping sweet spots for geothermal prospects in the country. Commissioned by the Omani authorities, the SLB experts assessed surface, subsurface and well data from the national data repository over a three-month period.

“Geothermal is one of the world’s most promising clean energy resources, and it has a crucial role to play in reaching net-zero targets,” said Gavin Rennick, president of SLB’s New Energy business. “Using digital technology solutions to assess geothermal resource potential can accelerate prospectivity analysis and, ultimately, the delivery and performance of geothermal installations. We are excited to work with the Ministry of Energy and Minerals and the Oman Investment Authority to explore decarbonization pathways for Oman.”

In the initial phase of the collaboration, SLB’s GeothermEx multidisciplinary geothermal consulting team used a proprietary AI solution to expedite assessment, sorting, and evaluation of the huge volume of data from the Oman Oil & Gas Data Repository (OGDR), and delivered a comprehensive assessment of Oman’s geothermal potential. The next phase will include assessment of the economic feasibility of the development of potential geothermal resources.

“This collaboration between the Ministry of Energy and Minerals, Oman Investment Authority and SLB is in line with Oman’s efforts to decarbonize the energy sector, achieve its Net Zero goal, and implement Oman Vision 2040. Building on existing country data and infrastructure, this collaboration will create opportunities by utilizing the latest technologies in the field of geothermal exploration and ramp up activities in Oman’s clean energy stream. We are glad to work with SLB given the extensive global experience in this field,” said HE Salim Al Aufi, the Omani Minister of Energy and Minerals.

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

About Oman Investment Authority (OIA)

Oman Investment Authority (OIA) is Oman’s sovereign wealth fund, and it is entrusted with managing, investing, and developing the Sultanate’s national and international assets. It has diverse investment portfolios both nationally and internationally, whereby it invests in over 40 countries across various sectors including food, energy, logistics, ICT, public services, finance and investment, food security, tourism, mining, industry, and aviation.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s New Energy technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s New Energy strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in the companies’ public filings, including SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, the parties disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

Media
Moira Duff – Director of External Communication, SLB
Tel: +1 (713) 375-3407
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, SLB
Joy V. Domingo – Director of Investor Relations, SLB
Tel:+1 (713) 375-3535
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Competing Chinese Auto Makers Start Exports in Significant Volumes

BOSTON--(BUSINESS WIRE)--#Chinese--Auto makers have restructured their businesses and strategies to become “all-electric” as the European Union and other national governments begin mandating sales bans of new combustion engine-powered light vehicles. The Strategy Analytics’ Electric Vehicle Service (EVS) report: OEM Hybrid and Electric Vehicle Strategies: Global OEMs Raise Production Capacity For "All-Electric" While Chinese OEMs Begin Exports sees auto makers streamlining their business in an effort to raise investment to become “all-electric,” as well as lowering production cost to mitigate the cost premium in electric vehicles caused mainly by batteries.

“Streamlining efforts include the increased levels of manufacturing automation, the use of mega-castings to reduce component count and the increased use of simulation to lower development cost,” says Kevin Mak, principal analyst in the Global Automotive Practice (GAP). “Furthermore, legacy combustion engine and hybrid powertrain businesses are now being spun-off from the auto groups to raise focus to the surviving electric vehicle business. This comes at a time when Chinese auto makers are starting to export their vehicles to other market regions in significant volumes. These auto makers have a ten-year head-start in the electric vehicle market, backed by economies of scale and a battery supply chain dominated by Chinese vendors.”

Source: Strategy Analytics, Inc.

#SA_Automotive

About Strategy Analytics

Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Part of TechInsights, our multi-discipline capabilities include: industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com.

For more information about Strategy Analytics
Electric Vehicle Service (EVS): Click Here

Report contacts:
European Contact: Kevin Mak, +44 (0)1908 423 644, This email address is being protected from spambots. You need JavaScript enabled to view it.
US Contact: Ed Sanchez, +1 617 614 0717, This email address is being protected from spambots. You need JavaScript enabled to view it.
China Contact: Julia An, +86 10 8975 5246, This email address is being protected from spambots. You need JavaScript enabled to view it.

New fund to invest in 15 to 20 early and growth-stage companies across U.S.

BOSTON--(BUSINESS WIRE)--MassMutual Ventures (MMV) announced today that it has launched a new $100 million fund to invest in early and growth-stage companies across the U.S. in the climate technology sector. The MMV Climate Tech Fund (CTF) will make investments in 15 to 20 technology companies that address the sources of climate change and provide solutions for managing its impact on individuals, businesses, and communities.

“Climate change represents a challenge to the world economy of unprecedented urgency and scale, leaving no industry or business process unaffected. Meeting this challenge will require an equally unprecedented level of commercial ingenuity and innovation,” said Karl Beinkampen, MMV Managing Director, who will co-lead the MMV Climate Technology Fund. “We believe there is a growing investment opportunity to support the companies and founders who are building solutions to mitigate, measure and manage climate change. MMV’s investment capabilities, access to fund and founder networks and early-stage business expertise will enable the next generation of climate innovators to scale over time while creating a more sustainable future.”

With this new fund, MMV will manage over $1 billion in investment capital – including the funds managed by its other Boston-based team and Europe and Asia-Pacific (APAC) team investing in digital health, financial technology, enterprise SaaS, and cybersecurity companies across the globe. Following its new fund and geographic expansion announced earlier this year, MMV’s Europe and APAC team also considers investment opportunities in the climate tech sector in Europe and the APAC region.

“We look forward to building on the success the MMV fund family has achieved over the past eight years as we launch this new fund focused on a critical and rapidly growing sector,” said Doug Russell, who has served as Managing Director and Head of MassMutual Ventures since its formation in 2014. “While we will concentrate on the climate tech sector, we will primarily target investments in undercapitalized markets that have the potential to generate strong investment returns and drive the breakthrough innovations that are needed to decarbonize the world.”

About MassMutual Ventures
MassMutual Ventures (MMV) is a multistage global venture capital firm with teams based in Boston, Singapore, and London, managing over $1 billion in investment capital. We help accelerate the growth of the companies we partner with by providing capital, connections and advice. With our deep expertise and extensive Fortune 500 network, MMV helps entrepreneurs build compelling and scalable companies of value. For more information, visit www.massmutualventures.com.

Media:
Chelsea Haraty
413‐426‐2008
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DUBLIN--(BUSINESS WIRE)--The "Global Femtocell Market Size, Share & Industry Trends Analysis Report by Type, End-user, Application, Technology, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The Global Femtocell Market size is expected to reach $13.6 billion by 2028, rising at a market growth of 19.6% CAGR during the forecast period.

The requirement to guarantee that femtocell service providers have the capacity and competence to supply data service with excellent performance amid the rise in traffic demand is becoming more and more important. As a result, service providers investing significantly in the femtocell industry in a variety of use cases including local mobile phone network operators as well as the data service provider. Femtocells also assist organizations in managing the ongoing pandemic and continuing to run profitable enterprises.

The market is growing as a result of a number of factors, including the femtocell's low cost and low power consumption and the rise in commercial demand for wireless networks brought on by the digitization of industries. Additionally, the expansion of the market is being driven internationally by an increase in smartphone and wearable device usage. Furthermore, a significant femtocell business opportunity is projected due to the rise in demand for 5G networks and low latency high-speed internet.

Market Growth Factors

High Demand for Wireless Networks

Installing a femtocell is essential to meeting the growing need for high-speed wireless networks because it ensures dramatically improved data rates from Mbps to Gbps - and ultra-reliable decreased latency - from tens of milliseconds to milliseconds. Additionally, it is a low-power gadget. Network densification, which is expanding available network capacity by adding more femtocells, is a key factor in the success of femtocell deployment.

Rising Adoption of Femtocells to Reduce Costs

An enormous increase in data traffic has been caused by the growing use of smartphones. To meet the needs of customers in various regions, mobile network operators are providing high-quality network services at competitive prices. The signal to interference plus noise ratio (SINR), which affects system capacity, rises as the distance between a receiver and a transmitter decrease. System capacity can be boosted by using femtocells to reduce cell size.

Market Restraining Factors

Ongoing Competition with Wi-Fi

Mobile customers in both private and public spaces have welcomed femtocells as a way to enhance network quality and deliver faster data speeds. However, as Wi-Fi can offload data traffic considerably better than femtocells, they are up against fierce competition from this technology. Additionally, Wi-Fi has a number of benefits over femtocells, including spectrum independence, extensive indoor coverage, interference cancellation, high power levels, as well as high data transmission.

Scope of the Study

Market Segments Covered in the Report:

By Type

• 4G Femtocell
• 2G Femtocell
• 3G Femtocell
• 5G Femtocell

By End User

• Residential
• Commercial
• Public Space

By Application

• Indoor
• Outdoor

By Technology

• IMS/SIP
• IU-H

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

• Samsung Electronics Co., Ltd. (Samsung Group)
• Cisco System, Inc.
• Ericsson AB
• Fujitsu Limited
• Analog Devices, Inc.
• Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
• Nokia Corporation
• ZTE Corporation
• Motorola Solutions, Inc.
• Vodafone Group Plc

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

Chapter 3. Global Femtocell Market by Type

Chapter 4. Global Femtocell Market by End User

Chapter 5. Global Femtocell Market by Application

Chapter 6. Global Femtocell Market by Technology

Chapter 7. Global Femtocell Market by Region

Chapter 8. Company Profiles

Companies Mentioned

• Samsung Electronics Co., Ltd. (Samsung Group)
• Cisco System, Inc.
• Ericsson AB
• Fujitsu Limited
• Analog Devices, Inc.
• Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
• Nokia Corporation
• ZTE Corporation
• Motorola Solutions, Inc.
• Vodafone Group

For more information about this report visit https://www.researchandmarkets.com/r/gku39n

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Project GodJira and Danny Cole’s Creature World have joined Flowcarbon’s climate positive decentralized art collection, Flow3rs, in order to offset their historical emissions.

NEW YORK--(BUSINESS WIRE)--Flowcarbon, a leading climate technology company creating carbon reduction and removal solutions, announced today the addition of two leading digital art projects, Project GodJira (PG) and Danny Cole’s Creature World, to its climate positive decentralized art collection, Flow3rs. Flow3rs is Flowcarbon’s newly launched collection of 200 works of unique digital art, a significant portion of which will go toward retiring carbon offsets from nature based projects around the world. To offset historic and current emissions from their decentralized art collections and more, Creature World and PG will acquire a commensurate number of carbon credits, which will be offset, on-chain by Flowcarbon.

PG, a unique community driven NFT project and industry leader, has built a community of over 7,000 holders and has created a launch-pad and network to support other NFT projects. In partnership with Flowcarbon, PG will offset more than 700 tons of carbon emissions to become carbon negative and advise other Web2 and Web3 projects on how to offset their emissions in both their NFT and real-world operations.

“As the industry is moving towards becoming more sustainable, this is an opportunity to continue the momentum and encourage NFT projects to offset even more emissions than they are responsible for,” said Shan, PG’s co-founder. “In the post-Merge world, we look forward to continuing to partner with Flowcarbon to have a positive impact on the environment and a better reputation for the NFT community.”

Creature World, an immersive art project and experience started by NYC-based artist Danny Cole, created a popular community around a collection of 10,000 unique pieces of digital artwork. Its blockchain transactions, at about 600 tons of carbon emissions, will be offset in this partnership along with the emissions from Creature World’s live events and art installations. Cole is known for creating magical experiences with his art, and his Creature World collection has sold over $120 million worth of digital art, attracting an engaging community of passionate collectors.

“Creature World’s mission is about making our experience of life magical and that means ensuring that future generations will be able to experience life as we are able to,” said Danny Cole.

The partnership with PG and Creature World illustrates the ability of blockchain technology to unlock and rapidly multiply social impact for Web3 projects, harnessing the power of Web3 to unite communities, artists and collectors around the shared goal of fighting climate change through meaningful art.

“Blockchain has the power to catalyze change for climate action and right the environmental wrongs of legacy proof-of-work systems,” said Dana Gibber, CEO at Flowcarbon. “As the technology becomes more sustainable, NFT projects have the opportunity to not just become carbon neutral, but to support the environment by becoming carbon negative and making a real-world impact.”

Check out Flow3rs.io for more information about the Flow3rs collection.

About Flowcarbon
Flowcarbon is a pioneering climate technology company that brings carbon credits onto the blockchain. Its mission is to make carbon markets accessible and transparent, enabling the efficient and early flow of capital to be invested directly into projects that combat climate change. Flowcarbon is committed to driving real impact for people, biodiversity, and the planet. To learn more about our work visit our blog.

About Creature World
In 2017, visual artist Danny Cole created The Creature World, a magical realm that seeks to take collectors on limitless expeditions by means of visual art, live experiences, and community projects. Each experience has brought hundreds to thousands of attendees into a unique iteration of the Creature World. In August 2021, Cole released 10,000 unique artworks of his signature character, The Creature, paired with an innovative ongoing digital experience. In the time since, these artworks have seen a trading volume of over $120 million. While the digital collection of 10,000 Creature portraits has thrust Creature World into the limelight with mind-boggling sales figures, this experience will open the door for a different type of art and has galvanized a whole movement among its community. Each experience has brought hundreds to thousands of attendees into a unique iteration of the Creature World.

About Project GodJira
PG is a unique community driven NFT project with a diverse set of revenue streams that align with a core set of values, including transparency, integrity, and generosity which they promote amongst their community members. They are the innovators of the NFT space, with a track record of generating and executing new ideas that bring utility back to the community. From their existing and future revenue streams, 100% of all mint and secondary proceeds go to the community vault overseen by our council. These funds are actively managed to leverage their reach within the Web3 space and provide the war chest needed to continue pushing the boundaries of this space and blurring the dichotomy between Web2 and Web3.

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Forbright’s lead financing helps support the goal of transitioning 40% of the island’s energy to renewable sources by 2025

CHEVY CHASE, Md.--(BUSINESS WIRE)--Forbright Bank, a nationwide full-service bank that is helping accelerate the transition to a clean energy economy, has successfully raised and syndicated debt facilities for Infinigen Renewables, a subsidiary of ArcLight Energy Partners Fund VII, L.P., (together with its affiliates, "ArcLight").

Infinigen owns and operates two solar parks in Puerto Rico – Oriana in Isabela, PR and Horizon in Salinas, PR. The solar parks provide total generation capacity of 73MW. Both assets are fully contracted under 20+ year term power purchase contracts with the country’s utility – Puerto Rico Electric Power Authority (PREPA).

Transitioning to sustainable solar resources is essential for Puerto Rico to enhance safety, reliability, and lower the cost of power. Under Puerto Rico law (Act 17), PREPA must meet a 40% renewable generation goal by 2025 scaling up to 100% renewable energy by 2050. As of 2021, only 3% of the country’s energy was generated by renewables with the rest of the distributed energy powered by higher cost imported oil, coal, and fracked gas. The Forbright financed solar projects help to progress the island’s energy revolution which will provide for cleaner, more storm resilient, and localized power generation.

“This financing is another example of the role Forbright plays in speeding the transition to a cleaner economy,” said Don Cole, CEO of Forbright Bank. “Supporting ArcLight and its Infinigen solar platform is a key part of Forbright’s mission to finance companies taking action to decarbonize the economy.”

Forbright Bank is committed to accelerating the transition to clean energy by providing financing for projects and technologies that support decarbonization and sustainability. Forbright has committed to dedicating half its portfolio by 2025 to financing the companies, investors, and innovators – like Infinigen – taking action to increase sustainability and shift to a lower-carbon economy.

“Infinigen and ArcLight are pleased to partner with Forbright Bank on this transaction,” stated Gavin Danaher, Partner at ArcLight. “The relationship with Forbright provides us an opportunity to partner with companies that not only contribute to a lower carbon future, but also have a deep understanding of renewable financings. Forbright and its syndicate partners provided Infinigen capital that will allow the Infinigen platform to develop additional solar projects in Puerto Rico.”

Forbright acted as First Lien Administrative Agent, Offshore Collateral Agent and Lender and was joined by Generate and Banco Popular as First Lien Lenders in the transaction.

About Infinigen:
Infinigen Renewables is an ArcLight backed platform focused on utility-scale solar and commercial and industrial (C&I) projects. The platform includes a dedicated operating and asset management team positioned to develop and operate renewable opportunities in North America, Central America, and the Caribbean. To learn everything about Infinigen Renewables, please visit www.infinigenrenewables.com.

About ArcLight Capital Partners:
ArcLight Capital Partners, LLC is a leading private equity firm focused on energy, infrastructure and energy transition with a successful long-term track record. Founded in 2001, the firm helped pioneer an asset-based approach to investing across the power, renewables, infrastructure and broader energy value chain. Through its large infrastructure portfolio, ArcLight invests in companies that provide decarbonizing energy solutions with a strong focus on ESG, including providing access to reliable and affordable energy resources through safe and environmentally responsible operations. Based in Boston, the firm's investment team employs a value-added investment approach that benefits from its dedicated in-house technical, operational, and commercial specialists and partners, as well as the firm's approximately 1,800-person asset management affiliate. More information about ArcLight can be found at www.arclight.com.

About Forbright Bank:
Forbright Bank (www.forbrightbank.com), Member FDIC, is a full-service bank, commercial lender, and asset manager headquartered in Chevy Chase, Maryland, that is committed to accelerating the transition to a sustainable, clean energy economy by financing the companies, investors, and innovators driving that change. With approximately $9 billion of owned and managed assets, the Bank provides specialty lending and banking services to clients across the United States. Its lending divisions provide nationwide products, including customized real estate loans, working capital, warehouse lines of credit, and forward loan purchase agreements. The Bank provides real estate loans, mortgage loans, and other business loans, as well as sophisticated and competitive deposit products.

Ben Wakana
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PORTLAND, Ore.--(BUSINESS WIRE)--Western Machine Works LLC, an engineering-focused equipment service and maintenance provider based in Portland, Oregon is recognized as Top Manufacturing Company by the Portland Business Journal for its annual Top Makers & Manufacturers Award. Western Machine Works joins a distinguished list of companies driving the Northwest region’s economy with excellence, productivity, and innovation, in the manufacturing sector.

Western Machine Works LLC was recognized for its outstanding services in the repair and refurbishing of critical equipment for industries that are vital to the Pacific Northwest’s economy, such as wind power, hydroelectric, marine, pulp & paper, advanced recycling, and transportation. Some notable projects include repair and refurbishing support for wind repowering projects, natural gas pollution control modifications, and hydro power plant upgrades.

Operating in its 34,000 sq. ft. facility, the company is set to increase its equipment capacity and staff hiring to accommodate its growing business. The company has not experienced any layoffs even in downturns and continues to provide Cost of Living Adjustment contributions annually to all its employees.

Manufacturing continues to account for a higher employment share in Oregon at 9.9% compared to 8.4% nationally.

About Western Machine Works LLC:

Western Machine Works LLC was founded in 1985 in Portland, Oregon, specializing in engineering-focused equipment repair, upgrades, and manufacture of heavy machinery, including large precision components for wind, hydro, marine, pulp & paper, and other critical industries.

Visit www.westernmachine.com for more information.

Greg Allen
503-286-7791

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the RBC Capital Markets Midstream and Energy Infrastructure Conference in Dallas, Texas. The conference is being held in person on Wednesday, November 16, 2022 and Thursday, November 17, 2022.

The Partnership’s latest presentation materials are available and may be downloaded by visiting the Partnership’s website at www.genesisenergy.com under “Presentations” under the Investors tab.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.

Genesis Energy, L.P.
Dwayne Morley
VP – Investor Relations
(713) 860-2536

PITTSBURGH--(BUSINESS WIRE)--The Wabtec Foundation, the philanthropic arm of Wabtec Corporation (NYSE: WAB), today announced a donation of $25,000 to support local relief efforts in Florida following Hurricanes Ian and Nicole. The donation is being made to the Red Cross.

“We are an active community member in Florida and are committed to supporting those in need where our employees live and work,” said Nicole Theophilus, Chief Human Resource Officer for Wabtec. “The back-to-back nature of these recent hurricanes left our community members in Florida hurting and without the basic services we depend on every day. Thousands of Florida residents continue to deal with the lingering effects of these storms. The Red Cross is the ideal partner to support as they help the impacted communities get back on their feet.”

Wabtec has approximately 700 employees across multiple sites in Florida. Most of Wabtec’s employees are in Jacksonville and Melbourne.

For more than 140 years, the Red Cross has been on the scene supporting those in need following natural disasters. Since Hurricanes Ian and Nicole, the Red Cross has had thousands of volunteers providing meals, shelters, and supplies to the impacted region.

About Wabtec

Wabtec Corporation (NYSE: WAB) is focused on creating transportation solutions that move and improve the world. The company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for over 150 years and has a vision to achieve a zero-emission rail system in the U.S. and worldwide. Visit Wabtec’s website at: www.wabteccorp.com.

Tim Bader
682-319-7925
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HOUSTON--(BUSINESS WIRE)--SCF Partners (“SCF”) is pleased to announce its investment in Westbrook Energy Group (“Westbrook”), a leading manufacturer of pressure control connection products for the downstream, natural gas distribution, LNG, upstream, and general industrial markets.

Founded in 1966, Westbrook has been a market leading manufacturer for over 50 years and has built a reputation for providing top quality products and customer service. The company offers a range of fittings and flanges that serve as critical components in nearly every flow control application. Customers depend on Westbrook to provide products that can withstand high-pressure and high-temperature processes to keep their operations running safely and efficiently.

“This new alliance with SCF will allow the Westbrook family of companies to build upon our proud history of providing the energy and industrial sectors with high quality products,” says Howard Houston, CEO of Westbrook. “With support and guidance from the SCF team, our future has never been brighter, and our brand will flourish with new offerings and partnerships providing our customers with an unparalleled source of products.”

“SCF is excited to be partnering with the Westbrook team in this next phase of growth, building upon their stellar 50+ year history,” says Garrett Jackson, Director at SCF. “Westbrook’s employees and products are essential in supporting both today’s existing energy infrastructure as well as the build-out of the broader energy and industrial infrastructure needed to support the world’s evolving sources of energy.”

About Westbrook Energy Group:

Westbrook Energy Group is a globally-integrated, industry-leading, domestic manufacturer of pressure control connection products located in Houston, TX. Founded in the mid-1960’s, Westbrook’s mission has always been to provide exemplary service and a quality product. The company offers a wide line of fittings and flanges – servicing the downstream, natural gas distribution, LNG, upstream, and general industrial markets. To learn more, go to www.westbrookmfg.com.

About SCF Partners:

Founded in 1989, SCF provides equity capital and strategic growth assistance to build and grow leading energy service, equipment, and technology companies that operate throughout the world. SCF has invested in more than 70 platform companies and made more than 400 additional acquisitions to develop 18 publicly listed energy service and equipment companies over its history. The firm is headquartered in Houston, Texas, and has offices in Singapore, Aberdeen, and Australia. Learn more at www.scfpartners.com

Griffin Doyle
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The long-term, multi-level partnership between Sakuu and LiCAP Technologies will accelerate Sakuu’s development of a high-throughput, cost-effective, additive manufactured battery line for best-in-class solid-state batteries with ultra-high energy density.

SAN JOSE, Calif.--(BUSINESS WIRE)--Sakuu, innovator of Swift Print™ solid-state battery technology, today announces that it has entered a memorandum of understanding (MOU) with LiCAP Technologies, Inc. (“LiCAP”) a leader in sustainable and scalable electrode coating solutions. Under the MOU, the two companies will partner to establish best practices for end-to-end development and the reliable commercial supply of premium electrodes for Sakuu’s additive manufactured (AM) solid-state battery technology.

Through this partnership, Sakuu plans to license LiCAP’s novel and proprietary battery electrode technology. Further, LiCAP plans to provide high-performance electrodes for Sakuu’s anticipated at-scale solid-state battery production needs, and to co-develop Sakuu’s next generation ultra-high energy density batteries.

“We are pleased to have established this relationship with LiCAP towards introducing and commercializing sustainably printed solid-state batteries,” said Arwed Niestroj, SVP of Customer Enablement at Sakuu. “LiCAP’s electrodes can substantially increase energy and power performance of Sakuu’s battery cells. Its innovative and cost-effective electrode technology can further promote performance, cost-savings, and product recyclability across our planned AM solid-state battery line.”

LiCAP’s novel electrode solution is anticipated to become an important component of Sakuu’s AM-produced battery line. Sakuu is developing cost-effective and safe ultra-high energy density solid-state batteries that can be printed in custom shapes and sizes and are anticipated to be 50% smaller and 30% lighter compared to established roll-to-roll manufacturing processes.

“We are extremely impressed with Sakuu’s AM battery manufacturing concept and see many synergies with our sustainable and cost-effective electrode platform. Sharing sustainability and performance goals with Sakuu will ensure long-term mutual growth,” said Linda Zhong, President of LiCAP Technologies. “We are excited that a company which we believe is on the verge of becoming a significant driver of product and process innovation in the energy storage space is working with our technology for their game-changing solid-state battery concept.”

Manufacturing scalability is widely considered one of the biggest challenges faced by developers of solid-state batteries today. Sakuu’s anticipated cost-effective, ultra-high energy density, safe, solid-state batteries—that could be printed in custom shapes and sizes—introduces a new paradigm in the energy storage space.

About Sakuu

Sakuu is reinventing large-scale, sustainable battery technology and manufacturing. Sakuu’s breakthrough solid-state battery cells are anticipated to deliver best-in-class performance, safety, and customizability in a recyclable format. Sakuu’s batteries will be produced by Sakuu’s transformative Kavian™ platform in gigafactory settings, which enables rapid, additive manufactured, high-volume, low-cost, and sustainable battery production to meet mass-market demand. Sakuu operates two facilities in Silicon Valley, California, where it is headquartered: a solid-state battery pilot line facility and a battery printing and engineering facility.

To learn more, visit www.sakuu.com

About LiCAP

LiCAP is a leading developer of the world’s most sustainable and cost-effective electrode manufacturing platform that will be a game changer for developers of solid-state batteries, lithium-ion batteries, lithium-ion capacitors, and ultracapacitors. LiCAP’s core technology, Activated Dry Electrode™, removes toxic NMP solvent from manufacturing, removes drying step and solvent recovery from electrode materials processing, reduces capital equipment, enables direct recycling of electrode scrap materials, and produces premium electrodes with ultra-high energy density and fast charging capability.

Co-founded and led by the original inventor of the “dry electrode” technology, LiCAP is headquartered in Sacramento, California and operates the world’s fastest commercial dry coating line for ultracapacitor manufacturing and a pilot line for lithium-ion battery manufacturing.

To learn more, visit www.licaptech.com

Sakuu Contacts:

Pal Hollywood
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8608779670

• Agreement signed will support Egypt’s long term vision to become a green hydrogen hub
• The project will produce 800,000 tonnes of green ammonia per year for export

DUBAI, United Arab Emirates--(BUSINESS WIRE)--AMEA Power, one of the fastest growing renewable energy companies in the Middle East, announced today that it has signed a Framework Agreement with the Government of Egypt to develop a 1,000MW green hydrogen project, for the production of green ammonia focused on the export market.

Announced on the sidelines of the 2022 United Nations Climate Change Conference (COP27) in Sharm El-Sheikh, the project will support the long term vision of Egypt to become a hub for green hydrogen production. AMEA Power has partnered with the Sovereign Fund of Egypt, the Egyptian Electricity Transmission, the New and Renewable Energy Authority, and the Suez Canal Economic Zone to deliver the project.

Hussain AlNowais, Chairman of AMEA Power, said: “The world is entering a new era of clean energy deployment, where emerging solutions like green hydrogen will present huge opportunities for investment, job creation and countries like Egypt to become major hubs for clean energy. AMEA Power is committed to working with its partners to help deliver the global energy transition and support emerging markets to advance their economic and social development. This project is the first of several large scale clean energy projects that AMEA Power will develop across the region as the Company enters a new phase in its journey and begins to scale up operations across Africa.”

Located at the coastal town of Ain Sokhna in the Suez Governorate, the green hydrogen project will have a capacity to produce 800,000 tonnes of green ammonia per year for domestic and international export.

The clean energy project is aligned with the Integrated Sustainable Energy Strategy (ISES) set out by the Egyptian government, which aims to reach renewable energy targets of 42% by 2035.

Ayman Soliman, Chief Executive Officer of The Sovereign Fund of Egypt, said: “This great success marks a major milestone for Egypt’s green strategy and was only possible with the persistence of all government sponsors and the partners’ belief in the potential of Egypt as a green hydrogen hub. Egypt has put a tremendous effort in the development of its Green Hydrogen Program and has made incredible progress reaching this stage in a matter of months. The signing of this binding agreement is a testament to TSFE’s ability to execute on its role in attracting private investment into strategic sectors. It comes in-line with TSFE’s decarbonization strategy using sustainable means that benefit the economy and position Egypt as a regional green energy hub.”

AMEA Power is in advanced discussions with a number of European, Chinese and Japanese companies to secure a long-term offtaker for the green ammonia. AMEA Power is also discussing with Egyptian Hydrocarbon Corporation in Egypt to potentially provide it with a portion of the green hydrogen production to support the development of green industries in the country.

AMEA Power has already completed a feasibility study for the project, which was conducted by a selected group of international advisors in the different areas - legal, technical and financial. Front End Engineering Design (FEED) is scheduled to start in January 2023, with a Final Investment Decision expected within the next 24 – 36 months.

The plant will be developed in two 500MW phases to de-risk the project and ensure it benefits from technology efficiency improvements and declining equipment prices. Operations on the first phase of the project are expected to commence in 2027.

AMEA Power is rapidly expanding its investments in wind, solar, energy storage and green hydrogen, demonstrating its long term commitment to the global energy transition. The Company has a clean energy pipeline of nearly 6GW across 15 countries, including several large scale projects in Egypt. The Company is at advanced stages with its 500MW Abydos Solar Photovoltaic (PV) Plant, which is located within the Aswan Governorate, and the 500MW Amunet Wind Farm, located within the Red Sea Governorate.

About AMEA Power

Headquartered in Dubai, AMEA Power is a developer, owner and operator of renewable energy projects. As one of the fastest growing renewable energy companies in the region, AMEA Power has assembled a world class team of industry experts to deliver projects across Africa, the Middle East and other emerging markets. The company is rapidly expanding its investments in wind, solar, energy storage and green hydrogen, demonstrating its long term commitment to the global energy transition.

Website: www.tsfe.com

*Source: AETOSWire

Robert Sinclair
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Landline: +971 (0) 4 310 7065
Mobile: +971 (0) 56 998 0713
For more information, please visit: www.ameapower.com

LOS ANGELES--(BUSINESS WIRE)--Surf Air Mobility Inc. announced today its confidential submission of a draft registration statement on Form S-1 with the Securities and Exchange Commission (the "SEC") for a proposed direct listing of its common stock. The registration statement is expected to become effective after the SEC completes its review process, subject to market and other conditions.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations of offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). This announcement is being issued in accordance with Rule 135 under the Securities Act.

Media
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Awards event recognized organizations that are transforming industries and shaping society

LOS ANGELES--(BUSINESS WIRE)--Patented battery system provider Joule Case received the first ever CleanTech Deal of the Year recognition at the inaugural 2022 Equity Crowdfunding Awards gala last week. The awards ceremony was the foundational event of the 2022 Equity Crowdfunding Week, a three-day showcase of leaders, founders and investors involved with the crowdfunding industry.

Nominees for each award were determined by quantitative and qualitative factors detailed by the KingsCrowd rating and analytics platform, and then opened to public voting to determine the winner.

“This is a validation for our investors, our team, our customers and everyone who believes in our vision and ability to transform industries with flexible, scalable and emission-free energy sources,” said James Wagoner, CEO, Joule Case. “Our momentum and increasing success in current and emerging markets would not be possible without your support. We also want to thank KingsCrowd, StartupStarter and everyone who made this event possible to bring together and recognize incredibly inspiring companies.”

Earlier this year, Joule Case completed a successful crowdfunding campaign that raised $1,127,379 and attracted 920 investors. It then opened a new $4M round on Wefunder to raise a total of $5M to expand into new markets where clean, safe, and cost-efficient renewable power is a strategic priority and an ideal match with the company’s portable, emission-free energy storage expertise and product line.

The company has recently partnered with Insane Impact, to offer a new off-grid, battery-powered solution for its state-of-the-art displays which have elevated some of the most prestigious live experiences from globally recognized sporting events to music festivals to experiential installations for the world’s leading brands. Joule Case is also partnering with Dronedek to provide emissions-free power to its “mailbox of the future” products that deliver a secure deposit receptacle for autonomously and traditionally delivered packages.

Prior to the awards ceremony, Joule Case also participated in a cleantech industry roundtable to share insights about the future of clean energy from those “shaping the industry from within.”

About Joule Case Inc.

Joule Case provides power where you need it when you need it, with flexible, patented battery systems that easily scale for a variety of power applications. The company was started in a Boise, Idaho garage by James Wagoner and Alex Livingston, fueled by their shared passion to enable clean and renewable energy to reach more people. They have spent years developing the unique stackable, portable, scalable, easy-to-use battery system now powering live events, food trucks and several other applications across the United States. The flexibility and adaptability of Joule Case systems can be combined together to make larger battery systems with minimal engineering and installation time.

Media Contact
Chad Biggs
Red Sky
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208.996.0710

EV Charging License Aligned with Evolving EV Charging Infrastructure

DENVER--(BUSINESS WIRE)--MPEG LA, LLC today announced that it has further aligned its EV Charging Patent Portfolio License (“EV Charging License”) with evolving EV charging infrastructure to make the License more effective in addressing the market’s needs now and in the future.

“As the world transitions rapidly to electrified transportation with convenient, reliable, and affordable networks of standards-based electric vehicle chargers in automobiles, along highways and in communities worldwide, MPEG LA’s EV Charging patent pool will assure implementers access to fundamental intellectual property on reasonable terms,” said Larry Horn, President and CEO of MPEG LA. “It is a necessary element of an orderly transition providing freedom to operate, reduced litigation risk and predictability in business planning to equip the market.”

In support of the worldwide EV charging rollout, MPEG LA’s EV Charging License addresses multiple geographic and industry standards and the higher power and increasing importance of High-Level Communications (HLC) in commercial chargers to make the License a one-stop solution for the worldwide EV charging market. Royalty products and rates were recently revised in recognition of emerging market needs. More information may be found here.

MPEG LA’s objective is to offer worldwide access to as many EV charging essential patents as possible to everyone on the same terms under a single license. Any party that believes it has patents that are essential to the EV Charging Standard is welcome to submit them for an evaluation of their essentiality by MPEG LA’s patent experts and inclusion in the License if determined to be essential. Terms and procedures governing patent submissions may be requested here.

MPEG LA, LLC

MPEG LA is the world’s leading provider of one-stop licenses for standards and other technology platforms. Starting in the 1990s, it pioneered the modern-day patent pool helping to produce the most widely used standards in consumer electronics history and is expanding access to other groundbreaking technologies. MPEG LA has operated licensing programs for a variety of technologies consisting of more than 26,000 patents in 120 countries with 285 patent holders and some 7,300 licensees. By assisting users with implementation of their technology choices, MPEG LA offers licensing solutions that provide access to fundamental intellectual property, freedom to operate, reduced litigation risk and predictability in the business planning process. For more information, go to www.mpegla.com.

Tom O’Reilly
MPEG LA, LLC
Tel: 303.200.1710
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• BYD's acceleration on promoting New Energy Vehicles. From the first new energy vehicle to the 1 millionth new energy vehicle in 13 years and from 1 million to 2 million in just 1 year and from 2 million to 3 million in just 6 months, BYD is actively promoting NEVs.
• "To reassure our customers about safety, we have made it a mission that we will carry to the end". In addition to the Blade Battery and CTB technology, BYD will also launch another safe and novel pioneering technology which will be equipped for the first time on the new model of its high-end brand, the Yangwang brand.
• BYD Auto will build up its brand matrix with five brands. These five brands are Dynasty, Ocean, Denza, Yangwang, and a new brand that specializes in professional and personalized identities.
• BYD operates globally. As a global seeker of talent, BYD acquires its talents worldwide. In terms of operation, BYD has extended its new energy vehicle footprint to over 400 cities across 70 countries and regions on 6 continents. In particular, BYD's new energy passenger cars have entered Norway, Germany, Japan, Thailand, Brazil, and other markets in the world. In the future, BYD's new energy passenger cars will enter more markets and will be manufactured as well as sold globally.

SHENZHEN, China--(BUSINESS WIRE)--On November 16, the roll-off production line ceremony of BYD's 3 millionth new energy vehicle was held at BYD's global headquarters. It was not only a symbolic milestone for BYD but also an important achievement for the development of new energy vehicles worldwide. While it took BYD 13 years to achieve the first one million new energy vehicle landmark, just one year later, BYD accomplished the milestone from "one million to two million new energy vehicles". Now, just in 6 months, BYD reached the milestone of " from two million to three million new energy vehicles". BYD has showcased a massive "acceleration" in the new energy vehicle industry, facilitating the rapid change of global green mobility. At the ceremony, Mr. Wang Chuanfu, Chairman and President of BYD, expressed his sincere gratitude to BYD customers, media friends, industry partners, peers, and employees.

At the event, Wang Chuanfu, Chairman and President of BYD, delivered the 3 millionth new energy vehicle to Wang Shuang, a soccer player who was named Asian Football Confederation (AFC) Women’s Player of the Year in 2018. “It is a great honor to be the owner of BYD's 3 millionth new energy vehicle”, said Wang Shuang, “I hope everyone can support sustainable mobility to help Cool the Earth by 1℃ and show our strength to the world.”

“Dealing with the industrial transformation and the ever-changing consumption trends in the future, BYD will continue to focus on scientific and technological innovation. In addition to that, BYD will keep on fulfilling people’s pursuit for a better life with leading technologies and diversified products”, said Wang Chuanfu.

He also stated that building on the existing “four-in-one” security system that guarantees the safety of battery’s raw materials, battery cells, battery packs, and vehicles, BYD would introduce another pioneering technology to further improve the security system. “To reassure our customers about safety, we have made it a mission that we will carry to the end”, said Wang Chuanfu.

During the event, Wang Chuanfu announced that BYD would build a high-end brand targeting the luxury market, Yangwang, with disruptive technologies and products. Its upcoming model will launch in the first quarter of 2023, bringing users unprecedented high performance.

In addition, in 2023, BYD will release a new brand grounded in highly professional and personalized identities, to meet the diversified demand of consumers. The brand will harness the co-creation with users and warmly welcome all the franchised dealerships to join BYD for its promotion.

In the future, BYD Auto will form a powerful brand matrix including BYD (Dynasty & Ocean), Denza, Yangwang, and another new brand that specializes in professional and personalized identities, covering family cars and luxury cars. With popularized and personalized design, BYD will constantly provide high-quality products that address customers' ever-rising expectations.

Furthermore, BYD will adhere to its global strategy by further developing the global market and promoting the passenger vehicle industry globally. Currently, BYD has extended its new energy vehicle footprint to over 400 cities across 70 countries and regions on 6 continents.

The roll-off of the 3 millionth NEV is not only an important milestone in BYD's history but also the vital landmark of witnessing the acceleration of global green mobility. In the future, BYD will continue to cooperate with partners from various sectors to achieve high-quality development. Under this collaboration, BYD will also persist in facilitating the progress of the global new energy vehicle industry and accelerating the transition of our mother planet to become a greener world.

About BYD

BYD is a multinational high-tech company devoted to leveraging technological innovations for a better life. Founded in 1995 as a rechargeable battery maker, BYD now boasts a diverse business scope covering automobiles, rail transit, new energy, and electronics, with over 30 industrial parks in China, the United States, Canada, Japan, Brazil, Hungary, and India. From energy generation and storage to its applications, BYD is dedicated to providing zero-emission energy solutions that reduce global reliance on fossil fuels. Its new energy vehicle footprint now covers 6 continents, over 70 countries and regions, and more than 400 cities. Listed in both Hong Kong and Shenzhen Stock Exchanges, the company is known to be a Fortune Global 500 enterprise that furnishes innovations in pursuit of a greener world.

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

About BYD Auto

Founded in 2003, BYD Auto is the automotive subsidiary of BYD, a multinational high-tech company devoted to leveraging technological innovations for a better life. Aiming to accelerate the green transition of the global transportation sector, BYD Auto focuses on developing pure electric and plug-in hybrid vehicles. The company has mastered the core technologies of the entire industrial chain of new energy vehicles, such as batteries, electric motors, electronic controllers, and automotive-grade semiconductors. It has witnessed in recent years significant technological advancements, including the Blade Battery, the DM-i and DM-p hybrid technology, the e-Platform 3.0, and the CTB technology. The company is the world’s first carmaker to stop the production of fossil-fueled vehicles on EV shift and has remained top of new energy passenger vehicle sales in China for 9 years in a row.

Asia-Pacific: Mia Gu, This email address is being protected from spambots. You need JavaScript enabled to view it. tel: +86-755-8988-8888-69666
Europe: Penny Peng, This email address is being protected from spambots. You need JavaScript enabled to view it. tel: +31-102070888
North America: Frank Girardot, This email address is being protected from spambots. You need JavaScript enabled to view it. tel: +1 213 245 6503
Latin America: Sofίa Mardones, This email address is being protected from spambots. You need JavaScript enabled to view it. tel: +56 9 9821 6851
Brazil: Adalberto Maluf, This email address is being protected from spambots. You need JavaScript enabled to view it. tel: +19 3514 2554
Africa: Nikki Li, This email address is being protected from spambots. You need JavaScript enabled to view it. tel: +86-18938862670

Facility expected to create more than 500 full-time jobs and approximately 4,500 construction jobs and generate an estimated $50 billion for the community over 20 years

THE WOODLANDS, Texas--(BUSINESS WIRE)--Chevron Phillips Chemical Company LLC and QatarEnergy announced today that they are proceeding with the construction of an $8.5 billion integrated polymers facility in Orange, Texas, expected to create more than 500 full-time jobs and approximately 4,500 construction jobs and generate an estimated $50 billion for the community in residual economic impacts.

The companies have made a positive final investment decision on the project and created a joint venture company, Golden Triangle Polymers Company LLC, named for the Golden Triangle region of Texas that includes the city of Orange. Chevron Phillips Chemical owns a 51% equity share in the joint venture and QatarEnergy owns 49%.

“Chevron Phillips Chemical and QatarEnergy have collaborated for over 20 years on the assets we operate together in Qatar. We have a great relationship and a proven track record of operating these facilities safely and reliably,” said Chevron Phillips Chemical President and CEO Bruce Chinn. “Our products help make life better for billions of people every day, and they are part of a lower carbon future. This facility will help meet the growing demand for our products and improve the quality of life for the world’s growing global population.”

His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy said: “We are excited to announce taking the FID on our largest petrochemical investment ever, highlighting QatarEnergy’s integrated position as a major player in the LNG and international exploration sectors, as well as being a global petrochemicals producer. This important project will complement QatarEnergy’s growing portfolio, both internationally as well as in the United States, and will help meet growing global demand for polymers. It builds on our long-term and successful partnership with Chevron Phillips Chemical, and we look forward to further collaborations in the future.”

Once operational, the plant will produce Marlex® polyethylene. Polyethylene is used in the production of durable goods like pipe for natural gas and water delivery and recreational products such as kayaks and coolers. It is also used in essential packaging applications to protect and preserve food, helping prevent it from going to landfills, and keep medical supplies sterile.

The plant, expected to begin operations in 2026, will include a 2,080 KTA ethane cracker and two 1,000 KTA high-density polyethylene units. The project is targeting to have approximately 25% lower greenhouse gas emissions than similar facilities in the United States and Europe, supporting the company’s efforts to help enable a lower carbon future. Chevron Phillips Chemical will manage engineering, procurement and construction for the project and operate the facility after start-up.

Construction of the Golden Triangle Polymers plant will begin immediately near Chevron Phillips Chemical’s existing facility in Orange, located 113 miles east of Houston. Chevron Phillips Chemical and its predecessors have had a presence in the Orange community since 1955.

The engineering, procurement and construction of the polyethylene units will be executed through ZDJV, a joint venture between Zachry Industrial Inc. (Zachry Group) and DL USA, Inc. The furnace portion of the ethane cracker engineering and procurement will be executed by T.EN Stone & Weber Process Technology, Inc. while PCL Industrial Construction Co. will provide construction services. Engineering, procurement and construction for the additional portions of the ethane cracker will be executed by JKJV, a joint venture between JGC America, Inc. and Kiewit Energy Group, Inc., and BMZ Third Coast Partners, a joint venture between Burns & McDonnell Engineering Company, Inc. and Zachry Industrial, Inc., (Zachry Group) will execute the utilities and infrastructure scope of work. The main automation contractor for the project is Emerson Process Management, LLLP, and W.T. Byler Co., Inc. is managing heavy civil work for the entire site. The project also includes a rail and storage-in-transit yard, with engineering, procurement and construction services provided by W.T. Byler Co., Inc.

“We work hard to be a good neighbor in the communities where we operate, and we are extremely grateful to the community members and public officials in Orange for their support as we developed this project,” Chinn said. “This facility will contribute to the social and economic fabric of the entire Golden Triangle region of Texas, bringing in thousands of high-paying American jobs and billions of dollars in economic impact. We care deeply about the community of Orange, and we’re thrilled to be bringing jobs and resources to the region with safety and environmental performance at the forefront, as always.”

For more information about the project and to contact us, visit www.cpchem.com/goldentrianglepolymers.

About Chevron Phillips Chemical Company LLC

Chevron Phillips Chemical is one of the world’s top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping and polymer resins. With approximately 5,000 employees, Chevron Phillips Chemical and its affiliates own nearly $18 billion in assets, including 31 manufacturing and research facilities in six countries. Chevron Phillips Chemical is equally owned indirectly by Chevron U.S.A. Inc. and Phillips 66 Company and is headquartered in The Woodlands, Texas. For more information about Chevron Phillips Chemical, visit www.cpchem.com. Also, follow us on Twitter: @chevronphillips.

“Chevron Phillips Chemical” or “CPChem” may refer to one or more Chevron Phillips Chemical subsidiaries or affiliates or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs.

Lisa Trow
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