SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE: VLO, “Valero”) announced today that it has commenced tender offers (each individually, with respect to a series of notes, a “Tender Offer,” and collectively, the “Tender Offers”) to purchase for cash up to a maximum aggregate principal amount of $1,000,000,000 (such aggregate principal amount, the “Maximum Aggregate Principal Amount”) of its outstanding 3.650% Senior Notes due 2025, 2.850% Senior Notes due 2025, 3.400% Senior Notes due 2026, 4.000% Senior Notes due 2029, 4.350% Senior Notes due 2028, 2.150% Senior Notes due 2027, 6.625% Senior Notes due 2037, 4.900% Senior Notes due 2045 and 7.500% Senior Notes due 2032, and the 4.375% Senior Notes due 2026 and 4.500% Senior Notes due 2028, each issued by Valero Energy Partners LP and guaranteed by Valero (such notes, collectively, the “Notes” or the “Securities”), subject to the acceptance priority levels and the Series Tender Caps (as defined below) noted in the table below.

Up to the Maximum Aggregate Principal Amount of $1,000,000,000^(a)
of the Outstanding Securities in the Priority Listed Below

The Tender Offers will expire at midnight, New York City time, at the end of September 23, 2022, unless extended or earlier terminated (the “Expiration Date”). Holders of the Notes must validly tender and not validly withdraw their Notes prior to or at 5:00 p.m., New York City time, on September 9, 2022, unless extended or earlier terminated (the “Early Tender Date”), to be eligible to receive the applicable Total Consideration for such Notes, which is inclusive of an amount in cash equal to the applicable amount set forth in the table above under the heading “Early Tender Payment” (the “Early Tender Payment”). Holders of the Notes who validly tender their Notes after the Early Tender Date but prior to or at the Expiration Date will be eligible to receive the applicable Total Consideration (as defined below) for such Notes minus the Early Tender Payment (the “Late Tender Offer Consideration”).

All Notes tendered prior to or at the Early Tender Date will be accepted based on the acceptance priority levels noted in the table above (subject to any applicable Series Tender Cap) and will have priority over Notes tendered after the Early Tender Date (subject to any applicable Series Tender Cap), regardless of the acceptance priority levels of the Notes tendered after the Early Tender Date. Subject to applicable law, Valero may increase, decrease or eliminate the Maximum Aggregate Principal Amount and/or any Series Tender Cap with respect to a particular series, in any case, at any time and in its sole discretion.

The applicable consideration (the “Total Consideration”) payable for each $1,000 principal amount of each series of the Notes validly tendered prior to or at the Early Tender Date and accepted for payment pursuant to the Tender Offers will be determined in the manner described in the Offer to Purchase by reference to the applicable fixed spread for such Security specified in the table above plus the applicable yield to maturity based on the bid-side price of the applicable U.S. Treasury Reference Security specified in the table above, calculated as of 10:00 a.m., New York City time, on September 12, 2022, unless extended or earlier terminated. In addition to the Total Consideration, Valero will also pay accrued and unpaid interest on Securities purchased up to, but not including, the applicable settlement date. The settlement date for the Notes validly tendered and accepted for payment on the Early Tender Date will occur promptly after the Early Tender Date and is expected to be September 13, 2022. The settlement date for the Notes validly tendered and accepted for payment after the Early Tender Date will occur promptly after the Expiration Date and is expected to be September 27, 2022.

Notes tendered pursuant to the Tender Offers may be withdrawn prior to or at, but not after, 5:00 p.m., New York City time, on September 9, 2022, unless extended or earlier terminated (the “Withdrawal Deadline”).

After the Withdrawal Deadline, you may not withdraw your tendered Securities unless Valero amends the applicable Tender Offer in a manner that is materially adverse to the tendering holders, in which case withdrawal rights may be extended as Valero determines, to the extent required by law (as determined by Valero), appropriate to allow tendering holders a reasonable opportunity to respond to such amendment. Additionally, Valero, in its sole discretion, may extend a Withdrawal Deadline for any purpose. If a custodian bank, broker, dealer, commercial bank, trust company or other nominee holds your Securities, such nominee may have an earlier deadline or deadlines for receiving instructions to withdraw tendered Securities.

The Tender Offers are being made pursuant to an Offer to Purchase, dated August 26, 2022 (as amended or supplemented from time to time, the “Offer to Purchase”), which sets forth a more detailed description of the Tender Offers. Holders of the Securities are urged to read the Offer to Purchase carefully before making any decision with respect to the Tender Offers.

Valero’s obligation to accept for payment and to pay for the Securities validly tendered in the Tender Offers is subject to the satisfaction or waiver of a number of conditions described in the Offer to Purchase. The Tender Offers may be terminated or withdrawn in whole or terminated or withdrawn with respect to any series of the Securities, subject to applicable law. Valero reserves the right, subject to applicable law, to (1) waive any and all conditions to any of the Tender Offers, (2) extend or terminate any of the Tender Offers, (3) increase, decrease or eliminate the Maximum Aggregate Principal Amount and/or any Series Tender Cap with respect to a particular series or (4) otherwise amend any of the Tender Offers in any respect.

Valero has retained BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC as dealer managers (the “Dealer Managers”) for the Tender Offers. Valero has retained D.F. King & Co., Inc. as the tender and information agent for the Tender Offers. For additional information regarding the terms of the Tender Offers, please contact: BofA Securities, Inc. at (888) 292-0070 (toll free) or (980) 387-3907 (collect); Citigroup Global Markets Inc. at (212) 723-6106 (collect) or (800) 558-3745 (toll free); J.P. Morgan Securities LLC at (866) 834-4666 (toll free) or (212) 834-3554 (collect); or Wells Fargo Securities, LLC at (866) 309-6316 (toll free) or (704) 410-4756 (collect). Requests for documents and questions regarding the tendering of securities may be directed to D.F. King & Co., Inc. by telephone at (212) 269-5550 (for banks and brokers only) or (800) 334-0384 (for all others, toll-free), by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or to the Dealer Managers at their respective telephone numbers.

This announcement is for information purposes only and does not constitute a solicitation of an offer to sell or an offer to purchase any securities. The Tender Offers are being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law. None of Valero, the tender and information agent, the Dealer Managers or the trustees with respect to the Securities, nor any of their affiliates, makes any recommendation as to whether holders should tender or refrain from tendering all or any portion of their Securities in response to the Tender Offers.

Safe-Harbor Statement

Statements contained in this press release that state Valero’s or its management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words “anticipate,” “believe,” “expect,” “plan,” “intend,” “scheduled,” “estimate,” “project,” “projection,” “predict,” “budget,” “forecast,” “goal,” “guidance,” “target,” “could,” “would,” “should,” “may,” “strive,” “seek,” “potential,” “opportunity,” “aimed,” “considering,” “continue,” and other similar expressions identify forward-looking statements. Forward-looking statements in this press release include those relating to expected timing of pricing of the Tender Offers, expiration dates for the Tender Offers, Withdrawal Deadlines and settlement dates. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of Valero’s control, such as legislative or political changes or developments, market dynamics, cyberattacks, weather events, and other matters affecting our operations or the demand for our products. These factors also include, but are not limited to, the uncertainties that remain with respect to the Russia-Ukraine conflict, the impact of inflation on margins and costs, the COVID-19 pandemic, variants of the COVID-19 virus, governmental and societal responses thereto, and the adverse effects the foregoing may have on our business or economic conditions generally. For more information concerning these and other factors that could cause actual results to differ from those expressed or forecasted, see Valero’s annual report on Form 10-K, the “Risk Factors” section included in the Offer to Purchase, quarterly reports on Form 10-Q, and other reports filed with the Securities and Exchange Commission.

About Valero

Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and sells its products primarily in the United States (“U.S.”), Canada, the United Kingdom (“U.K.”), Ireland and Latin America. Valero owns 15 petroleum refineries located in the U.S., Canada and the U.K. with a combined throughput capacity of approximately 3.2 million barrels per day. Valero is a joint venture member in Diamond Green Diesel Holdings LLC, which owns a renewable diesel plant in Norco, Louisiana with a production capacity of 700 million gallons per year, and Valero owns 12 ethanol plants located in the Mid-Continent region of the U.S. with a combined production capacity of approximately 1.6 billion gallons per year. Valero manages its operations through its Refining, Renewable Diesel, and Ethanol segments. Please visit www.investorvalero.com for more information.

Valero Contacts

Investors:
Homer Bhullar, Vice President – Investor Relations and Finance, 210-345-1982
Eric Herbort, Director – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992

Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002

Construction of the microgrid will provide power to energize the water wells at the military test facility

FRAMINGHAM, Mass. & WHITE SANDS, N.M.--(BUSINESS WIRE)--#carbonreduction--HSGS-Ameresco, LLC, a joint venture certified as a Service-Disabled Veteran Owned Small Business (SDVOSB) by the Small Business Administration and the Department of Veterans Affairs (VA), today announced that it has been awarded a contract to install a microgrid system at the White Sands Missile Range (WSMR), the Department of Defense’s largest open-air military test facility in New Mexico.

The new microgrid system is for several of the base’s potable water wells and is designed to include a new 700kW solar photovoltaic array, a 500kW natural gas generator and a 500kW battery energy storage system. The system is designed to provide 14 days of power to energize the water wells in the event of a power outage, supporting critical missions at the Army Research Lab, Material Test Directorate, fire department, and a Fort Bliss power projection platform.

“We are excited to implement this project to enhance the reliability of WSMR’s energy system,” said Dave McNeil, President and CEO of HSGS-Ameresco. “This diverse solution set will strengthen the base’s energy and water resilience, so that it is no longer dependent on a single source of power.”

The scope of the project also features updated electrical panels, transformers and controls; a fiber optic communication line, a fire alarm system, meters, cyber security measures, anti-terrorism measures and security fencing, among others. HSGS-Ameresco will provide all supervision, labor, materials, equipment, supplies and transportation necessary to perform the microgrid project.

“We’re thrilled to have been selected as a partner on this project for a site that is so important to our national security,” said Nicole Bulgarino, Executive Vice President, Ameresco. “This micro-grid system is designed to enable the base to provide continuous power during a loss of utility event for wells on site that provide critical water supply to the installation.”

Construction is set to begin in December 2022 and is expected to reach completion by late 2023.

To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.

About HSGS-Ameresco

HSGS-Ameresco, LLC, a joint venture certified as a Service-Disabled Veteran Owned Small Business (SDVOSB) by the Small Business Administration and the Department of Veterans Affairs (VA), delivers energy generation, smart controls, and building efficiency solutions to the VA and other Federal agencies nationwide. The HSGS-Ameresco team has extensive Federal contracting expertise, specializing in design-build services, energy savings performance contracts (ESPC), and Energy Supply Agreements (ESAs)/Power Purchase Agreements (PPAs). The company helps Federal agencies reduce their energy consumption and carbon footprint, assure their missions, improve their energy security and resiliency postures, and meet and exceed statutory requirements regarding energy management and the sustainability of Federal facilities.

About White Sands Missile Range

Comprised of 3,200 squares miles (roughly the size of Rhode Island and Delaware) White Sands Missile Range supports the Army, Navy and Air Force, as well as commercial and international users on a reimbursable basis while conducting more than 3,000 tests annually. The mission at White Sands Missile Range begins with a customer, a service developer, a foreign ally or another federal agency ready to find out if their engineers and scientists have built something that will perform according to job specifications. It ends when an exhaustive series of test have been completed and a data report has been delivered to the customer.

The announcement of a customer’s entry into project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. Ameresco’s portion of this project was not included in our previously reported contracted backlog as of June 30, 2022.

Media:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.

TORRANCE, Calif.--(BUSINESS WIRE)--Sonsray’s Thermo King and CASE Construction stores in San Diego combine for a one-stop shop experience. Rather than being two separate locations, they are now under one roof at a newer and bigger facility to offer customers solutions, support and convenience.

Sonsray has been serving the San Diego area for more than a decade and is the largest Thermo King authorized sales, service, parts and warranty dealership in North America with 12 locations throughout California, Nevada, New Jersey and New York.

“We're excited to be in a newer and more spacious location. The facility is currently being upgraded and will include a private lounge area for drivers with wifi, television, and refreshments offered. Just off of Interstate 8 in El Cajon, the new location will be closer to the Otay Mesa border crossing than the previous one and will be more accessible for out-of-state drivers coming into California from the east through Arizona. The El Cajon branch offers a full complement of services, including transport refrigeration units, APU's, tractor A/C, trailer repairs, and DOT inspections,” says Chris Wilson, Parts Manager at Sonsray San Diego.

About

Sonsray’s Thermo King division is the largest authorized sales, service, parts and warranty dealership in North America. With 12 locations in California, Nevada, New Jersey and New York.

https://www.sonsrayfleetservices.com/

Sonsray’s CASE Construction Equipment division is the largest distributor in the Western US, with 15 locations in Washington, Oregon, California, Nevada and Arizona.

https://www.sonsraymachinery.com/

Sonsray services 5 industries: Agriculture, Construction, Transportation, Rental Transportation and Rental Construction with locations across the US.

www.sonsray.com

Jasmine Sim
Brand Marketing Assistant
This email address is being protected from spambots. You need JavaScript enabled to view it.

The partnership will help enable Xcel Energy’s carbon-free future as the company looks to build a diverse portfolio of clean, cost-effective, and dispatchable resources

MARLBOROUGH, Mass.--(BUSINESS WIRE)--Ambri, a provider of long-duration energy storage, today announced that Xcel Energy, a leading energy provider focused on delivering a clean energy future, will use the world-class Solar Technology Acceleration Center (SolarTAC) to demonstrate Ambri’s energy storage technology. Ambri’s Liquid Metal™ battery energy system will support Xcel Energy’s renewable energy and economic development goals.

“We are honored to be selected by Xcel Energy as they continue to drive towards a carbon-free future,” said Adam Briggs, Chief Commercial Officer at Ambri. “Partnering with a progressive and innovative utility such as Xcel Energy is an exciting opportunity for Ambri as their clean energy vision is directly aligned with our mission to leave the planet a better place for future generations.”

In 2018, Xcel Energy became the first utility in the industry to set a long-term goal of providing its customers with zero carbon electricity. The company’s carbon-free electricity goal is a part of its vision is to become a comprehensive clean energy provider for its customers, providing them with zero or net zero electricity, heating, and transportation by 2050. For 15 years, the company has been a national leader in producing and delivering clean power and it received a national 2020 Climate Leadership Award for top Organizational Leadership for its efforts.

Xcel Energy is looking to Ambri’s Liquid Metal™ battery technology to help achieve its clean energy goals as the company installs more renewable energy and retires coal plants. Its groundbreaking energy plans are expected to reduce carbon emissions at least 80% by 2030 (from 2005 levels) and achieve a net-zero energy future by 2050 while delivering reliable, affordable energy service.

“We are pleased to work with Ambri as we continue bringing our customers the clean, affordable energy they depend on,” said Alice Jackson, senior vice president, System Strategy, and chief planning officer-Xcel Energy. “We look forward to learning what their technology can accomplish in a range of extreme environmental conditions as we look to build out the long-duration energy storage that will help us reach our carbon reduction goals.”

The year-long energy storage project will be installed at SolarTAC in Aurora, Colo., where advanced solar and distribution grid technologies have been tested in a real-world, grid-connected environment since 2011. Xcel Energy is a founding member of SolarTAC, which is managed and operated by MRIGlobal, a non-profit contract research organization. The site also supports microgrid capabilities at the edge or end of the electric distribution system.

About Ambri

Ambri’s Liquid Metal™ battery technology solves the world’s biggest energy problems – fundamentally changing the way power grids operate by increasing the contribution from renewable resources and reducing the need to build traditional power plants. Ambri’s long-duration energy storage solution is built for daily cycling – even in extreme, harsh environments. With a lifespan of 20+ years with minimal fade, Ambri systems are not only extremely reliable but also safe, as Ambri systems do not produce or emit any gases and there is no possibility for thermal runaway. For more information, visit www.ambri.com.

About Xcel Energy

Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, Minn., the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com.

Mallory Sass
Director of Marketing, Ambri
This email address is being protected from spambots. You need JavaScript enabled to view it.

Rep. Chrissy Houlahan (PA-06) joins ESS, TerraSol Energies and Sycamore International for ribbon cutting ceremony to inaugurate solar and storage microgrid in Chester County

WEST GROVE, Pa. & WILSONVILLE, Ore.--(BUSINESS WIRE)--$GWH #batteries--ESS Inc. (“ESS”) (NYSE:GWH), a leading manufacturer of long-duration iron flow batteries for commercial and utility-scale energy storage applications, today completed the installation of a microgrid project including an ESS Energy Warehouse™ system at an industrial recycling facility in West Grove, Pennsylvania. The project was developed by TerraSol Energies, Inc., a developer and operator of turnkey solar and storage solutions for commercial customers.

The ESS Energy Warehouse™ will be integrated with a 115 kW DC solar array to form a microgrid which will reduce peak electricity demand and provide back-up at Sycamore International, a technology recycling company working to enable a global circular economy. The project was showcased at a ribbon-cutting event at the Sycamore International industrial recycling facility, with attendees including U.S. Representative Chrissy Houlahan (PA-06).

“This project represents the kind of forward-thinking solution we need to build a decarbonized, resilient energy system,” said Rep. Houlahan. “Southeastern Pennsylvania is home to some of the most cutting-edge businesses in the country and even the world. I’m proud, and not surprised, to see a local business leading the way with innovative energy storage technology and solar, all while providing jobs and opportunity right here in Chester County. On the heels of passing historic energy provisions in the Inflation Reduction Act, I was thrilled to talk about how these paid-for investments will boost American manufacturing and save consumers money on their energy costs.”

“Through collaboration with TerraSol, we identified ESS's sustainable, American-made energy storage technology as the best solution on the market to achieve our climate and business operations goals. This solar and energy storage microgrid delivers backup power when needed to keep our facility fully operational, has a very reasonable return on the capital investment through both electricity production and peak load shaving, and enables our facility to operate comfortably with a net-zero carbon footprint,” said Steve Figgatt, CEO of Sycamore International.

Dave Santoleri, President of TerraSol Energies, said: “Today’s ribbon-cutting represents a key milestone in our partnership with ESS that will deliver an environmentally friendly solution to rising electricity costs and peak demand charges, and ensure reliable, clean energy for our customer, Sycamore International.”

“ESS is proud to partner with TerraSol Energies and Sycamore International to meet the needs of an industrial operation with our safe and non-toxic iron flow battery systems,” said Eric Dresselhuys, CEO of ESS. “Our long-duration storage technology makes it possible to deliver clean energy 24/7 for the uninterrupted operation of critical facilities. ESS technology will play a critical role in building a resilient and decarbonized energy system and this project demonstrates the value that iron flow technology can deliver.”

About ESS Inc.
At ESS (NYSE: GWH), our mission is to accelerate global decarbonization by providing safe, sustainable, long-duration energy storage that powers people, communities and businesses with clean, renewable energy anytime and anywhere it’s needed. As more renewable energy is added to the grid, long-duration energy storage is essential to providing the reliability and resiliency we need when the sun is not shining and the wind is not blowing.

Our technology uses earth-abundant iron, salt and water to deliver environmentally safe solutions capable of providing up to 12 hours of flexible energy capacity for commercial and utility-scale energy storage applications. Established in 2011, ESS Inc. enables project developers, independent power producers, utilities and other large energy users to deploy reliable, sustainable long-duration energy storage solutions. For more information visit www.essinc.com.

About TerraSol Energies
TerraSol Energies, Inc. develops and manages turnkey solar and energy storage solutions that provide reliable renewable energy for business owners, homeowners and non-profits. TSE handles all of your renewable energy project needs – from consultation, to design, construction, and ongoing operation of your solar energy and storage system. TerraSol has been servicing the mid-Atlantic region since 2009 and has earned recognition for its professional services and quality installations. We take care of customers to ensure their satisfaction for years to come, unmatched by other big box solar companies. For more information, visit www.TSE-solar.com.

About Sycamore International
Sycamore International is an Information Technology Asset Disposition (ITAD) company with a focus on data security. The company refurbishes and recycles secondary technology to enable a transition to a global circular economy. For more information, visit www.sycamoreinternational.com.

Source: ESS Inc.

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

Media:
Morgan Pitts
503.568.0755
This email address is being protected from spambots. You need JavaScript enabled to view it.

Company will provide essential Technical Sustainment, Engineering, Logistics and Modernization Support to Naval Enterprise Networks

RESTON, Va.--(BUSINESS WIRE)--Science Applications International Corp. (NYSE: SAIC) announced today it has been awarded a $163 million contract by the U.S. Navy to support design, development, integration, modernization, sustainment and life cycle support to shore networks, network components and network service solutions for the Naval Information Warfare Center (NIWC) Pacific Shore Networks Branch located in San Diego, CA.

Under the contract, SAIC will maintain Naval Enterprise Networks for all shore based U.S. Navy commands and personnel critical to the Navy’s day-to-day operations, as well as supporting command and control of U.S. Navy units deployed by operational commanders.

“SAIC is honored to build on our work supporting the U.S. Navy and NIWC Pacific,” said Bob Genter, SAIC President, Defense & Civilian Sector. “We are focused on delivering valuable support and solutions to a range of U.S. Navy network challenges and initiatives.”

NIWC Pacific provides technological and engineering support critical to information warfare for the U.S. Navy, as well as for Marine Corps, Air Force, Army and Coast Guard programs. Systems development and support includes basic research and prototype development through systems engineering, and integration to life cycle support of fielded systems.

About SAIC

SAIC^® is a premier Fortune 500® technology integrator driving our nation’s technology transformation. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective and efficient solutions that are critical to achieving our customers' missions.

We are approximately 26,000 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion, which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.4 billion.​​​​ For more information, visit saic.com. For ongoing news, please visit our newsroom.

Forward-Looking Statements

Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

Media:
Thais Hanson
703.676.8215 | This email address is being protected from spambots. You need JavaScript enabled to view it.

SAN RAMON, Calif.--(BUSINESS WIRE)--Mike Wirth, chairman and CEO of Chevron Corporation (NYSE: CVX), will take part in the Barclays CEO Energy-Power Conference on Wednesday, September 7, 2022, at 8:00 AM ET, discussing corporate strategy and the company’s focus on achieving higher returns and lower carbon.

Please visit www.chevron.com/investors to view a live webcast of the conversation and Q&A session. A replay will be available on the website after the event for those unable to watch the live webcast.

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and growing lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 25 of the company’s 2021 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.

Investor Contact:
Maggie McCourt
+1 (925) 842-8067

SAO PAULO--(BUSINESS WIRE)--CHINT, the leading global provider of smart energy solutions, exhibited at the 2022 Intersolar South America held in Sao Paulo, Brazil on August 23-25, 2022. CHINT displayed its 8 industrial solutions covering new energy, smart grid, data center, and smart water, aiming to promote the energy reform and smart city construction in Latin America with its synchronized development across the power industry chain.

"As the world is striving to achieve carbon neutrality, green energy and smart power are key to the local energy transformation. At the exhibition, CHINT will showcase its rich local management experience in fields of new energy and smart power, share insights with industry insiders, provide partners with carbon reduction solutions, so as to jointly support the development of the power industry in Brazil, Latin America and the Caribbean, and promote the global energy transformation,” said Lily Zhang, CEO of CHINT Electrics.

At the exhibition, CHINT displayed more than 10 series of products and carbon reduction solutions, including new energy and smart power, in 8 zones. Relying on the whole-industry-chain system of power transmission and distribution, CHINT’s data center solution is able to guarantee high safety, low energy consumption and high efficiency of the project, and ensure stable access to municipal power. During the 3-day exhibition, CHINT held 5 activities focusing on themes such as photovoltaic solution and energy efficient building solution to engage power industry insiders from Latin America.

Jackie Xiang, General Manager of CHINT Latin America, said, "The design of CHINT's booth at the exhibition highlights the theme of digital intelligence and carbon control. CHINT is committed to promoting environmental protection with the company's own industrial strength, and serving the energy needs of Latin America with CHINT's solutions across the whole power industry chain.”

Brazil is an integral part of CHINT's global footprint. In 2022, the Brazil warehouse was officially opened to build a supply chain service platform and improve customer satisfaction. So far, CHINT has engaged in the construction of a number of power projects in Brazil, including photovoltaic projects and power transmission and distribution projects. In the future, CHINT will further strengthen its brand image, accelerate market expansion, promote digital and smart transformation in the industry, while continuing to improve localized operation and empower the energy construction in Latin America!

PR: Cora Geng
This email address is being protected from spambots. You need JavaScript enabled to view it.

Diplomatic visits to Escobar and Port Qasim underscore U.S. support for energy security efforts

THE WOODLANDS, Texas--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) (“Excelerate”) received the U.S. Ambassador to Argentina Marc Stanley and U.S. Ambassador to Pakistan Donald Blome to Excelerate’s floating storage and regasification units (FSRUs) in the same week earlier this month. The visits demonstrated high-level U.S. government support for Excelerate’s efforts to enhance energy security and liquefied natural gas (LNG) supply diversification throughout the globe.

Ambassador Stanley and his Embassy team visited the FSRU Expedient on August 5 at the GNL Escobar Terminal in Buenos Aires province. Since the commissioning of South America’s first LNG import terminal in 2008, Excelerate FSRUs have completed 838 ship-to-ship (STS) transfers representing 83,048,420 cubic meters of LNG in Argentina.

Ambassador Blome and a delegation from the U.S. Embassy in Islamabad and U.S. Consulate General in Karachi visited the FSRU Exquisite on August 12 at the Engro Elengy Terminal in Port Qasim. The Exquisite is owned by a joint venture between Excelerate and Qatar Gas Transport Company Limited (Nakilat). Since the commissioning of Pakistan’s first LNG import terminal in 2015, Excelerate FSRUs have completed 456 STS transfers representing 63,533,993 cubic meters of LNG in Pakistan.

“It was a privilege to receive Ambassadors Stanley and Blome aboard our vessels to underscore the strategic importance of reliable energy infrastructure,” said Steven Kobos, President and CEO of Excelerate. “The U.S. has placed energy security for its partners and allies at the heart of its international energy policy. Excelerate is pleased to support these objectives through our continued operations in Argentina and Pakistan.”

About Excelerate Energy:

Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Founded in 2003 by George B. Kaiser, 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. Excelerate offers a full range of flexible regasification services from FSRU to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Ho Chi Minh City, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit www.excelerateenergy.com.

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

Media
Stephen Pettibone / Frances Jeter
FGS Global
This email address is being protected from spambots. You need JavaScript enabled to view it.
or
This email address is being protected from spambots. You need JavaScript enabled to view it.

This green hydrogen deal will provide enough annual power for 30,000 forklifts or 800 heavy-duty trucks as it continues on the path to be net-zero carbon by 2040

SEATTLE--(BUSINESS WIRE)--Amazon (NASDAQ: AMZN) today announced that the company has signed an agreement with Plug Power to supply 10,950 tons per year of green hydrogen for its transportation and building operations starting in 2025. The company will start to use green hydrogen to replace grey hydrogen, diesel, and other fossil fuels as it works to decarbonize its operations, and this green hydrogen supply contract will provide enough annual power for 30,000 forklifts or 800 heavy-duty trucks used in long-haul transportation.

“Amazon is proud to be an early adopter of green hydrogen given its potential to decarbonize hard-to-abate sectors like long-haul trucking, steel manufacturing, aviation, and ocean shipping,” said Kara Hurst, vice president of Worldwide Sustainability at Amazon. “We are relentless in our pursuit to meet our Climate Pledge commitment to be net-zero carbon across our operations by 2040, and believe that scaling the supply and demand for green hydrogen, such as through this agreement with Plug Power, will play a key role in helping us achieve our goals.”

As the largest corporate purchaser of renewable energy, Amazon continues to invest in a range of technologies because no single solution can fully close the emissions gap to net-zero carbon. When it comes to hydrogen, the challenge is that over 95% of supply is currently made from fossil fuels. Amazon wants to help change that. Large purchase agreements like this one help foster the growth of green hydrogen, which is produced through a zero-carbon pathway using water and renewable electricity.

“We already have more than 70 fulfillment centers outfitted with hydrogen storage and dispensing systems, which will allow us to start using green hydrogen to replace fossil fuels. Today, we use that system to power over 15,000 fuel-cell propelled forklifts, with plans to grow that number to 20,000 across 100 fulfillment centers by 2025. That’s just the start,” said Dean Fullerton, vice president of Global Engineering and Security Services at Amazon. “Across Amazon’s operations, we’re exploring and testing the use of other hydrogen applications, such as fuel-cell electric trucks and fuel-cell power generation stations providing electricity to Amazon buildings.”

Forklifts are just one use-case for scaling hydrogen, and many more potential uses are under development. Hydrogen can be used as a fuel similar to natural gas or diesel through a combustion process. It can also be used in “fuel cells,” where hydrogen and oxygen mix in a reaction that creates electricity with no direct emissions of pollutants or greenhouse gases at the point of use. However, to help power Amazon’s operations and meet our net-zero commitment, more hydrogen-powered equipment needs to be made commercially available.

Our supply agreement for green hydrogen not only reinforces Amazon’s commitment to urgent climate action, but signals to the industry a need to expand the hydrogen economy.

“Plug is fully committed to a green hydrogen future, and we are building a complete hydrogen ecosystem – from molecule to applications combined with a resilient network of green hydrogen plants around the world – to make hydrogen adoption easy for companies looking to reach net-zero carbon emissions,” said Andy Marsh, CEO of Plug. “Securing this major green hydrogen supply deal with a customer like Amazon affirms our multi-year investment and strategic expansion into green hydrogen. We are honored to help Amazon meet its ambitious sustainability goals and look forward to possibly expanding our relationship through the use of other hydrogen applications, such as fuel-cell electric trucks and fuel-cell power generation stations that could provide electricity to Amazon buildings and the deployment of electrolyzers in fulfillment centers.”

In addition to the supply contract with Plug Power, Amazon recently announced that it has invested in two companies developing electrolyzer technology to increase green hydrogen production. The investment is part of the Climate Pledge Fund, Amazon’s $2 billion venture investment program that supports the development of sustainable technologies and services.

Amazon co-founded The Climate Pledge in 2019, committing to reach net-zero carbon by 2040—10 years ahead of the Paris Agreement. The Pledge now has more than 300 signatories, including Best Buy, IBM, Microsoft, PepsiCo, Siemens, Unilever, Verizon, and Visa. To reach our goal, we will continue to reduce emissions across our operations by taking real business actions to decarbonize our operations. The company is already on a path to power our operations with 100% renewable energy, by 2025, five years ahead of the original target of 2030. Amazon is also delivering on its Shipment Zero vision to make all Amazon shipments net-zero carbon, with 50% net-zero carbon by 2030, and purchasing 100,000 electric delivery vehicles from Rivian, the largest order ever of electric delivery vehicles. Learn more about Amazon’s sustainability efforts: https://sustainability.aboutamazon.com/

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

Amazon.com, Inc.
Media Hotline
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.amazon.com/pr

TORONTO--(BUSINESS WIRE)--$DMJ #carbonemissions--dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce that the Chief Program Development and Innovation Officer of Verra signed an agreement engaging Earthood Services Private Limited (Earthood”) to provide independent third-party verification services related to dynaCERT’s application under Verra’s Verified Carbon Standard (“VCS”) programme.

In summary, dynaCERT and Verra have achieved the following steps in regard to dynaCERT’s Carbon Credit initiatives:

• dynaCERT Inc., the developer under the VCS programme, pursuant to the VCS rules of Verra, has, prepared the methodology submission and documentation and completed Step 1 as set out in Verra’s methodology process.
• Verra has reviewed the methodology documentation as set out in Step 2 of its methodology approval process.
• Verra has conducted its stakeholder consultation with the public as set out in Step 3 of its approval process which was completed after proposals were submitted.
• As Step 4 of Verra’s approval process, Verra contracted with a Verra approved Validator to provide services in respect of the “Validation of the Methodology” in accordance with the terms and conditions set out in the agreement and the VCS Rules.

dynaCERT, Earthhood, Verra and, dynaCERT’s consultant, International Environmental Partners Limited are now currently engaged in completing the VCS process with a view to dynaCERT’s Carbon Credits achieving Verra’s Verified Carbon Standard.

Dr. Kaviraj Singh, Managing Director of Earthood, stated, “It is a pleasure to be associated with dynaCERT through Verra for this methodology validation. We will put in our absolute best efforts to review the methodology as proposed and come up with quality results. If done right, we believe that this could be a game changer for the sector and we are looking forward to finishing this assessment in quick time, as we understand that this has been much awaited.”

Archit Srivastava, General Manager, Strategic Business of Earthood, stated, “Having done several such assignments with Verra on the front of methodology validations, I am confident that Earthood will carry out a just assessment with transparency and accuracy. We have been known in the carbon markets for delivering many ‘first-of-its-kind’ projects, and this one is another opportunity to retain and enhance the brand image that Earthood has built over the years.”

Monika Wojcik, CEO of Global Environmental Partners, dynaCERT’s consultant for the VCS application, stated, “Most sectors can use alternative technologies and processes to reduce the emissions from their operations and supply chains as well as the emissions associated with the products they sell, but some activities are hard to decarbonize. Innovation and policy developments will enable progress and must be developed at speed, but additional solutions to help tackle emissions in the short term are needed. The carbon credits earned by dynaCERT’s users of its HydraGEN™ Technology will help businesses, that are turning to voluntary carbon markets to increase their decarbonization efforts.”

Jim Payne, President and CEO of dynaCERT stated, “dynaCERT is very pleased to have now reached this point where Verra has approved the engagement of Earthood to verify our application under the Verified Carbon Credit Standard and we thank them both for this important milestone. Our HydraLytica™ software collects data on the vehicles with the integrated HydraGEN™ technology. This telematics device software displays fuel savings and carbon emission reports. HydraLytica™ allows truck drivers or vehicle owners to monitor on their computers automatically calculated diesel fuel savings and emission reduction reports with the HydraGEN™ Technology, in real-time. Our Technology is being marketed globally and is designed to offer the benefits of reducing fuel consumption in internal combustion engines. In addition, HydraGEN™ Technology reduces Greenhouse gases (GHG’s) and allows users to significantly lower their Carbon Footprint and contribute to the Net-Zero goals of mankind.”

About dynaCERT Inc.

dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, refrigerated trailers, off-road construction, power generation, mining and forestry equipment, marine vessels and railroad locomotives. Website: www.dynaCERT.com.

READER ADVISORY
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, the information contained herein by Verra and Earthood Services Private Limited which cannot be independently verified. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither The Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of The Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of the release.

On Behalf of the Board

Murray James Payne, CEO

Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com

Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com

• SquareOne Energy, LLC announces development of its innovative used oil recycling facility, which will be the first process in the U.S. to recycle used oil materials into clean on-road fuel products
• Sunoco LP, a leading national fuel distribution company, has entered into a multi-year offtake agreement to purchase all SquareOne’s ultra-low sulfur diesel and naphtha products
• The Company’s initial facility will be constructed in the Philadelphia region at PBF’s active refined products terminal location in Paulsboro, NJ; the PBF site will provide substantial benefits namely through existing infrastructure and multi-modal access, which will position SquareOne to be operational in 1H24
• The Company has secured used oil feedstock commitments for over 60% of its plant inlet capacity, and expects to be fully contracted at the point of full operation
• SquareOne will generate strong cash flow margins from its advanced processing operations with future added benefit from potential low carbon fuel credits

PHILADELPHIA--(BUSINESS WIRE)--SquareOne Energy, LLC (“SquareOne” or the “Company”) announced today the development of its initial discarded and used oil recycling facility in the Philadelphia region, the first to serve the northeast U.S. and mid-Atlantic markets. The facility will feature the most advanced process in the re-refining industry and create a holistically sustainable approach for re-energizing wasted oil. The Company will accomplish this by converting a wide array of used oils and other waste hydrocarbon streams into clean transportation fuel products, primarily ultra-low sulfur diesel (“ULSD”). SquareOne’s ULSD, which will meet Colonial Pipeline specifications, will be available for immediate delivery into vehicles, transportation pipelines, and marine vessels, making SquareOne the first facility in the nation to recycle discarded oil into high quality on-road fuel.

SquareOne’s facility will be constructed on an active refined products terminal site in the Philadelphia region owned and operated by PBF Logistics LP (NYSE: PBFX) and PBF Energy Inc. (NYSE: PBF) (collectively, “PBF”). PBF’s terminal, located in Paulsboro, NJ, provides the Company strong benefits from its existing infrastructure, multiple modes of transport access and comprehensive utilities, substantially reducing the development cost of the Company’s new recycling facility. By leveraging the significant advantages of the existing infrastructure, the facility is expected to be operational in the first half of 2024.

SquareOne’s Innovative Process and Initial Recycling Facility

SquareOne is a Philadelphia-based independent enterprise formed to create a progressive solution to address the critical issue of used oil disposal and processing in the U.S. The Company recognizes the existing used oil re-refining industry needs an innovative approach to a) broaden the waste streams that are recycled and b) advance the products created from these feedstock materials. According to government studies, as much as one-third of used oil is either burned or illegally disposed, causing significant environmental harm to the ground and waterways. As such, significant energy potential from these previously refined hydrocarbons is wasted. As the country aggressively pursues steps towards energy transition to a cleaner future, so must the used oil re-refining space, which SquareOne is addressing through its advanced recycling process and move beyond existing, less complex technologies in the industry.

The Company’s facility design will have a sophisticated front end and pre-treatment stage, which will enable the facility to accept and process numerous types of recyclable feedstocks, many of which are currently being improperly disposed. SquareOne’s wider array of recyclable feedstocks differentiate it from the existing re-refiners that traditionally only process used motor oil. Acceptable feedstock materials, in addition to used motor oil, will also include residual marine oils and more unmarketable material (unusable distillates combined with gasoline) as well as various other off-spec and distressed hydrocarbons.

SquareOne will also license proven technology for its facility, delivering the cleanest set of product yields in the U.S. re-refining industry. The Company’s primary product will be pipeline-spec ULSD, with associated products including low sulfur naphtha and high viscosity Group III base oil blendstock.

John Sadlowski, President and Chief Executive Officer of SquareOne, stated, “We are very excited to confidently move forward on the development of our state-of-the-art recycling facility which will better serve the industry and provide a long overdue environmentally focused solution for processing used oil and other discarded energy. Our Philadelphia facility will be the first used oil recycling operation in the Northeastern U.S. as well as the most advanced and capable recycling asset in the country, processing a broad spectrum of feedstock streams for our local communities into clean fuel products much needed by the transportation industry.

“We are fortunate to have partnered with strong organizations in PBF and Sunoco, who have enabled us to take critical steps towards full operation of our facility. SquareOne is committed to providing a highly sophisticated and practical solution to capture and transform waste oil into cleaner energy, while supporting our local communities through proper outlets for used oil disposal and creating new job opportunities. After years of support and dedication from our Company’s management, operating team and capital partners, we are fully prepared to execute our plan to build our initial facility and are already pursuing additional opportunities in other regions where similar innovative solutions are needed.”

Sunoco Products Offtake Partnership

Concurrent with the development of the SquareOne facility, the Company has entered into an offtake agreement with Sunoco LP (NYSE: SUN) (“Sunoco”), the largest independent fuel distributor in the U.S. Sunoco will purchase and market all the Company’s recycled ULSD and naphtha products that are generated from SquareOne’s facility on the Paulsboro site. This commitment from Sunoco provides strong validation of SquareOne’s vision and process design through conversion of problematic feedstock streams into clean and fully usable on-road fuel. SquareOne will also benefit from Sunoco’s extensive marketing and distribution channels to realize the environmental value of the Company’s recycled fuel.

Initial Site for SquareOne Development

SquareOne’s new facility will be situated on PBF’s active refined products terminal site in Paulsboro, NJ (the “Paulsboro site”). The Paulsboro site serves as an ideal location for SquareOne to construct its initial facility, as it provides multiple characteristics that substantially reduce the Company’s development and ongoing operating costs. SquareOne’s facility will strongly benefit from the logistics of the Paulsboro site, which is situated in an advantaged location in the Philadelphia area, enabling more effective service to the Northeastern U.S. markets. Furthermore, the Paulsboro site provides comprehensive logistical flexibility, including full access to deepwater docks on the Delaware River and an active rail terminal.

The Company will gain valuable access to and utilize various components of PBF’s existing infrastructure on the Paulsboro site. The site provides a centralized land position that will house the plant’s processing units, available storage tank capacity for both feedstock material and finished products, access to the site’s existing marine, rail, and truck rack, core utility needs, wastewater and H₂S treatment, as well as assistance for ontake/offtake of materials and product.

Environmental and Social Benefits to the Community

SquareOne’s groundbreaking project brings a fresh vision for sustainability to historically abandoned feedstock materials. Traditionally, many discarded oil materials have been improperly disposed of, leading to harmful environmental consequences. SquareOne’s highly flexible processing capabilities will drive the elimination of these practices by providing economic and environmentally beneficial solutions for those who generate or aggregate such material. By working closely with communities, municipalities and both local and national organizations, the Company plans to build awareness and greater access to resources for proper disposal of used and other discarded oils. SquareOne is initiating programs with local, county and state officials to provide for the efficient collection of these feedstock streams in the wider region.

“I believe that we are bringing a paradigm shifting set of values and perspective to the industry. The clear environmental and cultural benefit is palpable and will have a positive effect on the entire sector and help power us into a sustainable future”, stated Amanda Moninghoff, Founder and Executive Vice President of SquareOne.

SquareOne plans to bring new jobs with a variety of opportunities at various skill levels to the communities in which it will operate. These sustainable infrastructure jobs will offer upward mobility and advanced training, providing support and skills to a workforce meeting the challenges of energy transition.

Current Development Process

SquareOne is currently finalizing its FEL-2 engineering process for the Paulsboro facility and is working towards finalizing its engineering contract, as well as its potential commercial arrangement with PBF. The Company has partnered with the Axens Group, a worldwide leader in refining, renewables, recycling and petrochemical technologies, to license its existing designs for the front-end pre-treatment facility and hydrocracker unit. SquareOne has identified project financing capital and anticipates initiating construction in late 2022.

Project Funding & Strategic Advisors

PhiCap Advisors, LLC, a Philadelphia-based capital advisory firm, serves as the Chief Financial Officer for SquareOne, and has led the comprehensive business development and fundraising process for the engineering and construction of the Company’s initial facility in the Philadelphia area. The funding process has included the completion of Series A and B development rounds of over $12 million in combined investment capital, as well as coordinating the full project financing for the Philadelphia plant.

King & Spalding is serving as project and engineering legal counsel to SquareOne. Royer Cooper Cohen Braunfeld LLC is acting as legal counsel on capital financing for the project. Shearman & Sterling also provided legal counsel on company matters to SquareOne. Parker McCay is serving as legal counsel to the Company on environmental and permitting efforts.

SquareOne Management Profiles

John Sadlowski, President & Chief Executive Officer – John Sadlowski is currently serving as President and Chief Executive Officer of SquareOne and has 20 years of oil industry experience. Prior to joining SquareOne, he held a progressive series of commercial management positions at Philadelphia Energy Solutions with responsibility across the whole barrel, ultimately serving as Chief Commercial Officer, in which he oversaw all commercial operations around the company’s refining complex. Prior to his experience at Philadelphia Energy Solutions, John worked at Sunoco from 2004-2012 where he initially worked in the Office of Investor Relations and soon matriculated to the trading floor. John began his career in Financial Consulting at Arthur Andersen and holds a degree in Economics as well as an MBA in Finance from La Salle University.

Amanda Moninghoff, Founder & Executive Vice President – Amanda developed the concept and vision for SquareOne’s operations to recycle used oil into environmentally friendly fuels. Amanda brings valuable and extensive experience in the public sector, notably in the U.S. Senate office in Delaware, where she specialized in strengthening communities through federally supported solutions. Amanda attended Northeastern University, where she obtained a degree in Political Science, concentrating in Legal Studies.

Steve Herzog, Chief Operating Officer – Steve holds over 40 years of notable experience and engineering leadership in the refined products industry, including strategic planning & execution, and facility design & management. Most recently, Steve led Philadelphia Energy Solutions as Senior Vice President of Strategic Planning. Steve also acted as Refinery Manager for Sunoco’s Philadelphia, Marcus Hook (PA) and Eagle Point (NJ) facilities. Steve holds a degree in Chemical Engineering from the University of Washington, and an MBA from Villanova University.

Brian Begley, CFA (PhiCap Advisors, LLC), Co-Chief Financial Officer - Brian is a Co-founder and Partner at PhiCap Advisors, LLC, and brings over 25 years of experience in capital markets activity, corporate finance and M&A transactions. PhiCap Advisors is a Philadelphia-based capital and management advisory firm that specializes in clean energy and energy transition clients. Brian served as Vice President of Investor Relations and Capital Markets for Atlas Energy and its subsidiaries, where his team managed numerous IPO’s and capital raises in the upstream and midstream oil & gas industry. Brian holds a degree in Accounting from Villanova University and is a CFA Charterholder.

Jeffrey Slotterback, CPA (PhiCap Advisors, LLC), Co-Chief Financial Officer – Jeffrey is a Co-founder and Partner at PhiCap Advisors, LLC, and brings substantial financial leadership to the Company. PhiCap Advisors is a Philadelphia-based capital and management advisory firm that specializes in clean energy and energy transition clients. Jeffrey served as CEO and CFO for several companies in the Atlas Energy oil & gas group, where he helped lead over 20 asset acquisitions and disposals, several IPOs, multiple corporate monetizations, and SPAC business combinations. Jeffrey holds a degree in Accounting from Muhlenberg College and is a licensed CPA in Pennsylvania.

About SquareOne Energy

SquareOne is an independent enterprise founded in the Philadelphia area, committed to creating and growing a holistically sustainable blueprint for re-energizing waste oil. SquareOne is currently developing an innovative used oil recycling process, which will be the first in the U.S. to recycle used oil materials into clean on-road fuel products. For more information, please visit www.sq1energy.com or contact the Company at This email address is being protected from spambots. You need JavaScript enabled to view it..

SquareOne Energy, LLC
This email address is being protected from spambots. You need JavaScript enabled to view it.

• Focusing on four of the biggest challenges facing the grid, specifically modernization, decarbonization, digitization and electrification, GE Renewable Energy’s Grid Solutions business spotlights its holistic approach to building the grid of the future at this year’s CIGRE
• Combining advanced hardware with software and services, GE emphasizes its commitment to deliver innovative solutions that help customers modernize the grid and accelerate the energy transition
• For the first time in more than 100 years, the global energy landscape is undergoing a massive transformation

PARIS--(BUSINESS WIRE)--#GEGrid--GE Renewable Energy’s Grid Solutions business (NYSE: GE) today announced it will unveil new technologies at CIGRE Session 2022. Among these are the world’s first SF₆-free g³ circuit-breaker for 420 kV gas-insulated substations (GIS). These technologies demonstrate the value of combining advanced hardware with digital technologies to address customers’ needs and adapt to a more digitalized, decentralized, and decarbonized energy landscape, while bringing reliable electricity online all around the world.

“For the first time in more than 100 years, the global energy landscape is undergoing a massive transformation. To support this transition while building a grid that will be sustainable for the next hundred years, we are working closely with our customers to continue to find ways to make the grid more efficient, resilient, and sustainable,” said Vera Silva, Chief Technology Officer at GE Grid Solutions. “We are investing in and delivering advanced technologies and services to meet these new grid challenges and many of these new technologies are on display during the CIGRE Session 2022.”

At this year’s CIGRE, GE Renewable Energy’s Grid Solutions business will spotlight its latest innovations and services as part of the company’s holistic approach to building the grid of the future with a special emphasis on four of the biggest challenges facing the grid: modernization, decarbonization, digitization and electrification.

To read the full news release - click here.

If you are attending CIGRE, visit GE's stand #343 on the third floor of Palais des Congrès de Paris, France.

Contact GE for interviews with our industry experts on-site during CIGRE. For daily updates, follow GE’s Grid Solutions business at @GE Grid Solutions and hashtags #GEatCIGRE & #GEGrid.

Allison J. Cohen
GE Renewable Energy, Grid Solutions business
External Communications Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

New EV cell pilot production center expected to begin operations in early 2023

WOBURN, Mass.--(BUSINESS WIRE)--Factorial Energy (Factorial), an industry leader in the development of solid-state battery technology for electric vehicle (EV) applications, today announced it will establish a new advanced manufacturing facility in the Boston suburb of Methuen, Mass. The new facility will produce Factorial’s innovative new solid-state battery cell technology for EVs. A groundbreaking ceremony will be held at the site in Methuen at 3:00 pm EDT today.

The new production site at 501 Griffin Brook Drive in Methuen was recently secured by Factorial with the support of the Massachusetts Office of Business Development and the City of Methuen’s Economic and Community Development Department. The existing 67,000 square-foot building on the site will undergo extensive buildout to house Factorial’s pilot production facility, which will manufacture automotive-sized solid-state batteries at pre-production speed and volume. Factorial will invest $45 million in the facility, which is expected to begin operations in early 2023 and will bring 166 new jobs to the Methuen community.

Based in Woburn, Mass., Factorial is developing the next generation of electric mobility technology. The company is currently working with automakers Hyundai Motor Company, Mercedes-Benz and Stellantis to develop safer and higher performance solid-state EV battery cells for future passenger and commercial vehicles.

“The collaboration between Factorial, the City of Methuen and the Commonwealth of Massachusetts has been extremely helpful and productive,” said Siyu Huang, CEO of Factorial. “Our relationship is a true partnership between our company and our community. We plan to continue building solid-state EV battery research and development facilities in New England and establish the region as a hub for electric mobility technology.”

“Factorial Energy is an excellent example of an innovative company choosing to build its business and provide high-skilled jobs here in Methuen,” said Mayor Neil Perry, City of Methuen. “We are excited to help Factorial start its new operations in Methuen, and we’re honored to support the growth of this future-focused company. This is an excellent example of local and state government working hand in hand with private enterprise to craft a solution beneficial to all.”

"We are thrilled to see Factorial Energy expanding operations in its home state," said Housing and Economic Development Secretary Mike Kennealy. "Massachusetts remains a leader in innovation, and as the electric mobility industry grows, this new advanced manufacturing facility in the Gateway City of Methuen will play an important role delivering the solid-state batteries that will power our transition to clean energy while creating jobs here in the Commonwealth."

About Factorial Energy

Based in Woburn, Mass., Factorial Energy is developing breakthrough solid-state batteries that offer longer range per charge and increased safety and aim to be cost competitive with conventional lithium-ion batteries. The company’s proprietary FEST™ (Factorial Electrolyte System Technology) leverages a solid electrolyte material, which has the potential to enable safe and reliable cell performance with high-capacity cathode and anode materials. FEST™ has been successfully scaled in 40Ah cells, works at room temperature, and is highly compatible with existing lithium-ion battery manufacturing equipment. The company has entered into joint development agreements with Mercedes-Benz, Stellantis, and Hyundai Motor Company. More information can be found at www.factorialenergy.com.

Media:
Jack Shaw
Antenna for Factorial Energy
This email address is being protected from spambots. You need JavaScript enabled to view it.

MELBOURNE, Australia--(BUSINESS WIRE)--Hansen Technologies (ASX:HSN), a leading global provider of software and services to the energy, water and communications industries, is pleased to announce today that it has entered a long-term agreement with Allente, a provider of television and entertainment services within the Nordic region. Allente has chosen the latest version of Hansen CCB as its preferred customer-care and billing platform, to support Allente in delivering a frictionless experience for the company’s end-customers across Denmark, Finland, Norway and Sweden, for DTH, IPTV and OTT.

A scalable customer-care and billing solution for many of today’s leading communications and pay-TV providers, Hansen CCB, part of the Hansen Suite for Communications, Technology and Media, delivers the power to rapidly bring new content and OTT partner services online. Support for multiple pricing and packaging models will give Allente enhanced flexibility to create bundled offerings targeting different customer segments. It will also enable integrated customer care and billing for non-pay-TV services including VoIP, broadband and fixed wireless access.

Jon Espen Nergard, Chief Technology Officer, Allente, commented: “With the vast amount of entertainment services available to today’s consumers, distributors such as Allente need to secure a seamless aggregation of these much-desired services across our markets. With consumer expectations changing in the digital era, we count more than ever on our long-term valued partners such as Hansen to enable the rollout of a customer-first approach, in line with our long-term transformation vision.”

David Castree, Division President, Communications, Technology and Media at Hansen, commented: “At Hansen, we are extremely pleased to extend our valued relationship with Allente. With more demands being placed by consumers on service providers than ever before, Hansen CCB is a complete subscription and pay-TV customer-care and billing solution that manages complexity, with state-of-the-art architecture that scales for growth for several million customers – precisely the traits prized by Allente.”
For further information about Hansen Technologies, please visit www.hansencx.com.

About Hansen Technologies
Hansen Technologies (ASX: HSN) is a leading global provider of software and services to the energy, water and communications industries. With its award-winning software portfolio, Hansen serves 600+ customers in over 80 countries, helping them to create, sell, and deliver new products and services, manage and analyse customer data, and control critical revenue management and customer support processes.
For more information, visit www.hansencx.com

About Allente
Allente is a Nordic TV distributor that offers TV solutions via satellite TV and IPTV, to more than 1 million customers in Denmark, Finland, Norway and Sweden. In addition, the company offers streaming services, as well as IPTV solutions and fiber broadband via open networks. The company was established on 5 May 2020, as a result of a merger between Canal Digital and Viasat Consumer. The company is jointly owned by Telenor Group (which owned Canal Digital) and Nordic Entertainment Group, now the Viaplay Group.
For more information, visit https://www.allente.no/

Adnan Bashir
Senior Manager, Global Corporate Communications
Hansen Technologies
+1 647-204-0999

• Aggregate Industries, part of the Holcim US family, introduces DYNAMax, offering concrete innovation and the ability to “build more with less”
• Pairs with Holcim’s exclusive iCONCrete to provide job-site optimization in the most complex and technically demanding projects.

CHICAGO--(BUSINESS WIRE)--Holcim US, the leader in sustainable building solutions, has introduced DYNAMax high-performance concrete to its innovative concrete product portfolio in the Denver and Colorado Springs, Colorado, and Twin Cities, Minnesota, markets. Integrating high strength, durability, and superior rigidity, DYNAMax addresses today’s engineering demands for design innovation, complex technical requirements, and environmental responsibility.

“The ever-increasing population demands more buildings and infrastructure, and in the U.S. especially, this needs to happen in metro areas where space is becoming scarcer,” said Chance Allen, general manager, ACM Mountain Region at Holcim US. “To meet these demands, we offer many solutions that support new design trends. Holcim innovated DYNAMax as a product that helps the construction industry build more with less.”

Holcim strategically chose to concentrate in Denver, Colorado Springs, and the Twin Cities because this high-performance concrete offers the ideal fit for urban high-rise construction as well as other building types such as mid-rise buildings, bridges, and public buildings. Moreover, DYNAMax’s unique properties translate into the ability to execute components and structures with less concrete and steel reinforcement, making the concrete a valuable resource-saving material.

“DYNAMax allows designers to bring more innovation to their plans and incorporate new dimensions,” said Randy Gaworski, general manager, ACM North Central Region. “As a total solution, it also supports more design freedom and space, optimal job-site performance, and conservation of resources, enabling lower project and construction costs.”

Because it utilizes the same working processes as conventional concrete, DYNAMax supports job-site optimization, especially when integrated with Holcim’s exclusive iCONCrete technology, which is designed to provide full control of concrete performance even in the most complex and technologically demanding projects. Recently, DYNAMax became a concrete of choice for a two-tower condo project in Denver being developed by Amacon.

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

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

Meredith Castro, Holcim
This email address is being protected from spambots. You need JavaScript enabled to view it.

Agreement to explore how NuScale’s innovative technology can benefit Estonia’s carbon-free energy goals

PORTLAND, Ore.--(BUSINESS WIRE)--NuScale Power (NuScale) announced today that it has signed a memorandum of understanding (MOU) with Fermi Energia, an Estonian energy company that is looking to adopt clean energy power sources to meet the country’s ambitious climate goals. Under the agreement, Fermi Energia will evaluate NuScale’s groundbreaking small modular reactor (SMR) design for deployment in Estonia.

In July 2019, Fermi Energia announced it would conduct a feasibility study on the deployment of SMRs in Estonia. NuScale’s design was one of the technologies chosen to be studied due to its near-term deployable timeline, strong safety case, and cost-competitiveness. Under this new MOU, NuScale will support Fermi Energia as it conducts further analysis and considers deploying a NuScale VOYGR™ SMR power plant in country to meet clean, baseload energy needs by 2031.

“Considering the geopolitics of today, this agreement builds upon the existing momentum and strong interest from the international community who are looking to NuScale’s SMR technology as the premier, flexible, and cost-competitive climate solution,” said John Hopkins, NuScale Power President and Chief Executive Officer. “NuScale looks forward to working with Fermi Energia as they evaluate how our SMRs can become a key component of Estonia’s energy future.”

“The great advantage of the new generation of small modular reactors is clearly manifested in the case of Estonia. They fit better into the electricity grid, are more flexible and economical to operate, and meet stricter safety requirements than the existing nuclear plants,” said Kalev Kallemets, Fermi Energia CEO and co-founder. “Before choosing the most suitable technology for Estonia, we will conduct a comprehensive analysis and evaluate which of the small reactors that will become market-ready in the near future best meets Estonia's needs to produce CO2-free energy year-round, in any weather, at an affordable price.”

Estonia has committed to stop using oil shale, currently its largest source of energy, in its power plants by 2030. To replace this greenhouse gas intensive power source, Fermi Energia has advocated to utilize SMR technology to secure the country’s energy independence. By 2031, Fermi Energia envisions clean, safe, affordable, and carbon-free electricity courtesy of the next generation of nuclear energy. In a nation like Estonia, NuScale’s small, scalable design is well suited to meet the baseload energy demand and can significantly contribute to meeting climate goals.

About NuScale Power

NuScale Power (NYSE: SMR) is poised to meet the diverse energy needs of customers across the world. It has developed small modular reactor (SMR) nuclear technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production, and other process heat applications. The groundbreaking NuScale Power Module™ (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. NuScale’s 12-module VOYGR™-12 power plant is capable of generating 924 MWe, and NuScale also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs.

Founded in 2007, NuScale is headquartered in Portland, Ore., and has offices in Corvallis, Ore.; Rockville, Md.; Charlotte, N.C.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power's website or follow us on Twitter, Facebook, LinkedIn and Instagram.

About Fermi Energia

Fermi Energia is an Estonian energy company that focuses on the development and deployment of Small Modular Reactors (SMR). The company's goal is to provide an opportunity to reach carbon neutrality with reliability and affordability to Baltic consumers. Since 2019, Fermi Energia has conducted a series of research and preliminary works, with the aim to start energy production in 2031.

Forward Looking Statements

This release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties and assumptions. Actual results may differ materially as a result of a number of factors. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, NuScale’s results may differ materially from its expectations and projections. While NuScale may elect to update these forward-looking statements at some point in the future NuScale specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing NuScale’s assessments of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Diane Hughes, Vice President, Marketing & Communications, NuScale Power
This email address is being protected from spambots. You need JavaScript enabled to view it.
(C) (503) 270-9329

Mihkel Loide, Head of Communications, Fermi Energia
This email address is being protected from spambots. You need JavaScript enabled to view it.
+372 53 001 777

IPSC to Spearhead Operations, Maintenance and Now Asset Management Needs for CE+P’s Sugar Valley Energy Campus

ALISO VIEJO, Calif.--(BUSINESS WIRE)--IHI Power Services Corp. (IPSC), a leading owner and operator of power plants across the U.S., today announced it has deepened its partnership with California Ethanol + Power (CE+P) via a 15-year asset management deal to oversee its forthcoming Sugar Valley Energy campus outside of Brawley, Calif.

The project is expected to produce approximately 70 million gallons of extremely low-carbon, fuel-grade Essential Ethanol™ from locally grown sugarcane; up to 49 MW of baseload electricity produced from biomass; and 737 Mcf of pipeline quality biomethane.

IPSC was originally tapped to support a 15-year operation and maintenance (O&M) contract for the 160-acre ethanol biorefinery, bioelectric generation plant and wastewater treatment facility project back in March of this year. Now, due to its impressive portfolio, proven track record of success and full range of O&M services, CE+P made the strategic decision to add asset management services to IPSC’s project scope.

“IPSC is dedicated to offering value-added services that ensure power plants and energy generation facilities run safely, reliably and cost-effectively,” said John Keller, chief operating officer at IPSC. “We are proud to be flexing a number of our power facility management capabilities for the new Sugar Valley Energy campus and are eager to continue to deepen this truly aligned partnership with the world-class team at CE+P.”

“Sugar Valley Energy is a part of a multi-billion-dollar wave of new energy investment taking place in California and particularly in the Imperial Valley, adding resilience to our state’s energy portfolio and creating thousands of jobs,” said CE+P President and CEO Dave Rubenstein. “IPSC’s experience, vision and commitment to sourcing employment in the Valley provide significant confidence that Sugar Valley Energy will deliver on its promise for the region.”

The completed Sugar Valley Energy campus will support an estimated 200 permanent new jobs onsite and in the Imperial County community, as well as hundreds of agriculture-related jobs associated with cultivating sugarcane. Construction of the facility alone is estimated to support more than 9,000 jobs in various trades. The project represents a $1 Billion investment in the Imperial Valley region.

Headquartered in Aliso Viejo, Calif., IPSC currently operates more than 40 projects with more than 15,000 MW of generation. As both an owner and operator itself, the firm understands the business and technical concerns of owning, operating and maintaining power plants, and provides an elevated management style that brings deep understanding, experience, insight and perspective to clients. For over three decades, IPSC has operated and managed numerous green technology facilities including solar, wind, pumped storage, energy storage and biomass, among others and is dedicated to maximizing the value of all client assets through its delivery of first-class services.

To learn more, visit: www.ihipower.com.

ABOUT IHI POWER SERVICES CORP: IHI Power Services Corp’s (IPSC) parent company, IHI Corporation, based in Tokyo, Japan, is a heavy industrial manufacturing and services company. The company is active in several industries, including aerospace, shipbuilding, power generation, automotive and transportation infrastructure. IPSC was specifically formed to provide operations, maintenance, management and power plant support services to the U.S. power generation industry. The IPSC team of energy professionals delivers value-added service based on expertise gleaned through years of hands-on experience in the power generation industry. As an owner and operator, IPSC understands that minimizing operational risks and maximizing asset value while maintaining a safe work environment that is environmentally compliant is key to the success of every facility. By instituting proven programs, industry best practices and upholding the company’s guiding principles of growth, respect, accountability, integrity, and lack of limitation, IPSC provides world-class service to each of the more than 40 facilities and 12.7 gigawatts it manages. For more information, visit www.ihipower.com and follow IPSC on LinkedIn.

About California Ethanol + Power (CE+P)

CE+P is a development company that intends to develop, construct, operate and own numerous facilities that will convert locally grown sugarcane into Essential EthanolTM sustainable, renewable, and extremely low carbon transportation fuel that will assist California in meeting its groundbreaking AB32 requirements. CE+P is committed to employing processes and equipment that are both commercially proven and financeable, while also meeting California’s stringent environmental regulations. For more information, visit www.californiaethanolpower.com

MEDIA CONTACTS:
For IHI Power – Leslie Licano, Beyond Fifteen Communications,
This email address is being protected from spambots. You need JavaScript enabled to view it. | 949-733-8679 x 101
For California Ethanol + Power – Barbara Caruso
This email address is being protected from spambots. You need JavaScript enabled to view it. | 714-328-3273

• Generator to be integrated into Hyliion’s Hypertruck powertrain platform to offer a next generation fuel agnostic semi-truck solution
• KARNO generator is expected to be 20%+ more efficient than today’s leading generators; achieved by 3D printing of thermal components and innovative fuel to electricity conversion
• Will be capable of operating on over 20 different fuels, including hydrogen, with significant emissions improvements

AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, announced today it has entered into a definitive agreement to acquire a new hydrogen and fuel agnostic capable generator (“KARNO”) from GE Additive – part of GE (NYSE: GE) – a world leader in metal additive technologies and manufacturing.

“Solving climate change, whether through adopting electric vehicles or reducing emissions from manufacturing sites, requires clean, efficient and dependable electricity. Hyliion will leverage the KARNO as the next generation generator onboard the Hypertruck, creating a solution that will operate on various fuel sources that are available today, while remaining future-proofed to run on hydrogen when it becomes widely accessible,” said Thomas Healy, Founder and CEO of Hyliion.

The KARNO generator emerged out of GE’s long-running R&D investments in metal additive manufacturing across multiple industries and in areas such as generator thermal and performance design. Initial testing indicates the KARNO generator is expected to comply with all current and foreseeable emissions standards, specifically from CARB and EPA, even when utilizing conventional fuels.

The technology is expected to achieve a 20%+ efficiency improvement over today’s conventional generators and could be more efficient than most available fuel cells. These efficiency improvements should, in turn, enable fuel cost reductions and improved vehicle range. The technology should also provide for significant reductions in noise, vibration, moving parts and maintenance as compared to current combustion engines.

The KARNO power system will be capable of operating on over 20 different fuels including hydrogen, natural gas, propane, ammonia and conventional fuels. The technology uses heat to drive a sealed linear generator to produce electricity. The heat is produced by reacting fuels through flameless oxidation or other heat sources including renewables.

In late 2023, Hyliion plans to first release the Hypertruck ERX powertrain, which leverages a natural gas engine as the generator onboard. In the years following, Hyliion plans to release the Hypertruck KARNO, its fuel agnostic variant, as phase two in the Hyliion journey to a hydrogen-based future. Hyliion will also explore other adjacent markets to leverage this technology for cost savings and emissions reductions.

The transaction is subject to customary closing conditions and is expected to close by the end of Q3 2022. With an acquisition value of ~$37 million, GE will receive $15 million in cash and approximately $22 million in Hyliion stock. Hyliion will acquire the generator technology and integrate the Cincinnati-based engineering team that created the KARNO system into Hyliion.

KARNO Announcement Conference Call

Hyliion will host a webcast at 12:00 p.m. EST / 11:00 a.m. CST on Thursday, August 25 to discuss the acquisition and technology in greater detail. The live webcast of the call, as well as an archived replay following, will be available online on the Investor Relations section of Hyliion’s website. Those wishing to participate can access the call using the link or dial-in information below:

Webcast: https://event.on24.com/wcc/r/3916718/AA88C1EC4D32D86AE5EE69A67326FB1E

Conference Call Dial-In Details:
Conference ID: 38179
Participant Toll-Free Dial-In Number: 1 (888) 770-7112
Participant Toll Dial-In Number: 1 (929) 203-1926

About the Hypertruck

The Hypertruck is an electric powertrain that is recharged by an onboard generator for Class 8 commercial trucks that aims to provide lower operating costs, emissions reductions, and superior performance. The initial product variant to come to market is the Hypertruck ERX^TM which leverages an onboard natural gas engine as the generator. The Hypertruck Fuel Agnostic will leverage the KARNO fuel agnostic generator to produce electricity. Hyliion also plans to release a Hypertruck Fuel Cell, which will only operate on hydrogen.

About Hyliion

Hyliion’s mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.

Forward Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, Hyliion’s ability to disrupt the powertrain market, Hyliion’s focus in 2022 and beyond, the effects of Hyliion’s dynamic and proprietary solutions on its commercial truck customers, accelerated commercialization of the Hypertruck ERX™, the ability to meet 2022 and future product milestones, the impact of COVID-19 on long-term objectives, the ability to reduce carbon intensity and greenhouse gas emissions, the expected performance and integration of the KARNO generator and system, and the other risks and uncertainties set forth in “Risk Factors” section of Hyliion’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 24, 2022 for the year ended December 31, 2021. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.

Hyliion Holdings Corp.
Ryann Malone
This email address is being protected from spambots. You need JavaScript enabled to view it.
(833) 495-4466

Sharon Merrill Associates, Inc.
Nicholas Manganaro
This email address is being protected from spambots. You need JavaScript enabled to view it.
(617) 542-5300

 One-Day Event Features an All-Star Speaker Line-Up that Addresses Today’s Most Excitable Topics, Plus Startup Booths, Fireworks, & Investor Pitches

HOBOKEN, N.J.--(BUSINESS WIRE)--Propelify Innovation Festival, powered by TechUnited:NJ, returns October 6, 2022 at Maxwell Place Park in Hoboken, NJ. Founders, C-Suite leaders, and industry experts take the stage to share their insider insights and innovators unite to celebrate what’s new and create what’s next with inspiration, education and interactive experiences. The event celebrates innovation and entrepreneurship, giving thousands of attendees a unique opportunity to connect, learn, and propel their businesses.

“Whether you’re an entrepreneur looking to scale your business, an investor looking for access to early stage tech before it makes headlines, an innovator looking to grow your career in tech, or if you’re part of an enterprise searching for new ways to innovate and leverage technology, Propelify is where ideas are propelled into action. Plus, it’s fun.” said Propelify Founder and TechUnited CEO Aaron Price.

Entrepreneurship and innovation are the focus of Propelify's Stage of Wisdom: tackling topics including climate change, diversity, smart cities, communication, wellness and venture capital. This year, the event will introduce the Stage of Finspiration presented by Cross River Bank, which will dive into fintech innovations, emerging technologies, the metaverse, Web3 and more.

The event will feature a range of industry leaders, including:

• Jeff Hoffman, Cofounder, Priceline
• Amanda Cassatt, Serotonin Cofounder & CEO; Mojito Cofounder & President
• Dr Dan Karlin, CMO MindMed
• Douglas Rushkoff, Best Selling Author and host of Team Human Podcast
• Katica Roy, Founder, Pipeline Equity
• Nora Apsel, Founder and CEO, Morty
• Ben Sun, Founder, Primary Ventures
• Y-Vonne Hutchinson, CEO and Founder, ReadySet
• Vinit Bharara, Co-Founder and CEO at Mojo
• Clara Krivoy, Partner, Head of Digital Commerce Group, Brown Rudnick
• Click Here for full speaker list

"The Propelify Innovation Festival unites innovators who are building the future, continuing the legacy of innovation rooted in New Jersey.” said Governor Phil Murphy. “We're thrilled that TechUnited:NJ leads the way to welcome some of the most inspired companies, entrepreneurs and innovators to New Jersey who propel ideas into action."

The winners of 2022 TechUnited:BetterX Challenges will also be announced at Propelify, awarding innovative entrepreneurs $100,000 in cash, as well as instrumental mentorship opportunities. This year's competition includes the following challenge statements:

• BetterPlanet Challenge, powered by PSEG: Accelerate ClimateTech Adoption
• BetterWellness Challenge , powered by Labcorp & RWJBarnabas: Build the Modern Patient Experience
• BetterConnected Challenge Newark, powered by Audible: Tech for Traction: Modernize & Grow Main Street

The BetterX Challenges are also supported by Samsung, Verizon Business, & Cross River Bank.

About Propelify

The Propelify Innovation Festival empowers innovators and entrepreneurs to advance their businesses and careers. Over the years, the Propelify Innovation Festival has welcomed over 40,000 attendees, hundreds of exhibitors, and world-renowned speakers like Arianna Huffington, Gary Vaynerchuk, James Altucher, Beth Comstock, Gov. Phil Murphy, and more. The gathering features talks, tech, drones, investors, VR, AI, startup competitions, music, food, and drinks, earning a recognition from Forbes as "The SXSW of the Northeast."

About TechUnited

TechUnited:NJ is a membership-driven, non-profit organization that offers opportunities for tech-enabled companies and entrepreneurs to connect, collaborate, and grow to propel the future of New Jersey and beyond through events, mentorship, content creation, and more.

Press Contact
Niki Turkington This email address is being protected from spambots. You need JavaScript enabled to view it.@techunited.co