BATAVIA, N.Y.--(BUSINESS WIRE)--Graham Corporation (NYSE: GHM), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy and process industries, announced that it will present the Company’s new strategic plan and review its fourth quarter fiscal year 2022 financial results on Thursday, June 9, 2022.
During the discussion, Daniel J. Thoren, President and CEO and Christopher J. Thome, CFO, will discuss results for the fourth quarter and full year fiscal 2022 and provide details of the Company’s progress to leverage Graham’s diversified business. Graham’s new strategy and near and long-term outlook will also be discussed. The strategic plan and financial results will be released after the close of financial markets on Wednesday, June 8, 2022.
The Company also announced that it has rebranded with a new logo and website to reflect the changes being made at Graham Corporation to reflect the reenergized organization.
Mr. Thoren, commented, “These are exciting times at Graham as we roll out our new strategy, advance critical U.S. Navy projects at both our operations, and reenergize the earnings power in our legacy business. We have developed a new logo to reflect the new organization and launched a website that we believe better captures our future. We look forward to discussing our progress and potential during our webinar.”
The Company noted that preliminary revenue and adjusted EBITDA for fiscal 2022 is in line with guidance provided on February 7, 2022. Guidance for revenue was in the range of $120 million to $125 million and adjusted EBITDA was expected to be a loss of $5 million.
Corporate Strategy and Financial Results Webinar
A question-and-answer session will follow the presentations. Questions may be submitted through the webinar portal or, alternatively, a teleconference number will be provided to ask any questions live at the event.
A webcast replay will be available on the Company’s website at ir.grahamcorp.com, where a transcript will also be posted once available.
ABOUT GRAHAM CORPORATION
Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy and process industries. The Graham Manufacturing and Barber-Nichols’ global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems.
Graham routinely posts news and other important information on its website, www.grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.
Safe Harbor Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “outlook,” “anticipates,” “believes,” “implies”, “could,” “opportunities,” “plans,” ”may,” “will,” “should,” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, its ability and the timing needed to address challenges in its defense business, including at the Batavia, NY operations, profitability of future projects, the development and impact of better documentation of build processes and pricing models, its ability to meet customers’ delivery expectations, the future impact of low margin defense projects and related cost overruns, expected expansion and growth opportunities within its domestic and international markets, anticipated revenue, adjusted EBITDA, adjusted EBITDA margins, and SG&A expenses, the timing of conversion of backlog to sales, market presence, profit margins, tax rates, foreign sales operations, its ability to improve cost competitiveness and productivity, customer preferences, changes in market conditions in the industries in which it operates, labor constraints, the effect on its business of volatility in commodities prices, including, but not limited to, changes in general economic conditions and customer behavior, forecasts regarding the timing and scope of the economic recovery in its markets, its acquisition and growth strategy and its operations in China, India and other international locations, are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission, included under the heading entitled “Risk Factors.”
Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.
Christopher J. Thome
Vice President - Finance and CFO
Phone: (585) 343-2216
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Deborah K. Pawlowski
Kei Advisors LLC
Phone: (716) 843-3908
System supports 100% of electricity, domestic hot water and peak cooling needs
VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #cgrnenergy--Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), (“Capstone,” the “Company,” “we” or “us”), a global leader in carbon reduction and on-site resilient green energy solutions, today announced that Innovative Energy Company Limited (IEC), Capstone’s exclusive distributor for Jamaica and Guyana, has secured an order for a hybrid PV solar and microturbine trigeneration system for a hotel complex in Jamaica.
The hotel’s parent company, which owns and operates five major hotels in Jamaica, sought to reduce their energy cost, as well as their greenhouse gas emissions. With a 90% estimated efficiency, the new system will negate the company’s previously planned investment in a 2 megawatt (MW) standby generator system.
Designed for maximum sustainability in this environmentally sensitive region, the system will produce 2.25 MW of hybrid electrical capacity or 100% of the hotel’s peak electrical demand, while also providing 60% reserve capacity to support the customer’s interest in establishing energy independence. In addition to delivering approximately 9,000,000 kilowatt hours (kWh) of the hotel’s annual electrical energy, the trigeneration system will produce 440 kW, or 1.5 MMBtu per hour, of domestic hot water and 599 tons of dual-fired absorption cooling for the hotel’s peak cooling demand.
In all, based on Capstone’s calculations, the new installation is estimated to reduce the hotel’s energy cost by over 45%, offering a simple payback of an estimated 3.5 years. The customer has also contracted with IEC and Capstone Green Energy for a 20-year, all-inclusive Factory Protection Plan (FPP), which provides ongoing, worry-free system maintenance, parts and labor.
“This project is the second that this customer has contracted IEC to complete, the previous being similar in design with an equally compelling simple payback of less than 4 years,” said Nigel Davy, Managing Director of IEC. “The goal of IEC and Capstone is to build deep long-term customer relationships and be a one stop shop for green energy solutions,” added Mr. Davy.
Given the hotel’s pristine natural environment, the customer was keenly interested in an environmentally-friendly solution. The highly efficient trigeneration configuration, based on Capstone’s calculations, is estimated to reduce the hotel’s annual greenhouse gas emissions by 31%—the equivalent of 1,154 metric tons of CO2e when compared to energy from traditional, fossil fuel-only generating sources.
“Hotels and resorts are well suited for microturbine-based co- and tri-generation power systems due to their high levels of need for energy to include domestic hot water, power and cooling,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy. “The cost savings alone are highly compelling but add the clean energy benefits, particularly for hotels and resorts in sensitive regions, make systems like this one a truly ideal energy solution.”
About Innovative Energy Company Limited (IEC)
Innovative Energy Company Limited (IEC) is a Jamaican, vertically-integrated energy company with over three decades of experience in the private energy industry. IEC develops, designs, constructs and operates PV solar farms, cogeneration and trigeneration energy projects on a turnkey basis for our clients. We also provide “Energy as a Service” solutions to our clients.
With clean, quiet, reliable and resilient Capstone Microturbines, IEC is giving its clients the power to be independent. IEC is the exclusive Distributor and Service Provider for Capstone Green Energy Corporation in Jamaica and Guyana.
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it.. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today announced that Christophe Raimbault, Vice President and interim Head of Marketing will take on a new role as Vice President - Sustainability and New Energy. Christophe will continue to serve as Vice President and interim Head of Marketing until Matt Lyne joins Valaris as Senior Vice President and Chief Commercial Officer, which is expected to occur in the third quarter of 2022.
President and Chief Executive Officer, Anton Dibowitz said, “The creation of this new position highlights the Company’s continued strategic focus on sustainable business practices that support our purpose of providing responsible solutions that deliver energy to the world. Christophe’s appointment will drive further momentum behind our commitment to reduce emissions from our operations and partner with our customers to support their ESG efforts, as well as identify and progress opportunities within the new energy arena.”
About Valaris Limited
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
Cautionary Statements
Statements contained in this press release that are not historical facts are 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. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," “likely,” "plan," "project," "could," "may," "might," “should,” “will” and similar words. The forward-looking statements contained in this press release are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the COVID-19 outbreak and global pandemic and the related public health measures implemented by governments worldwide; the cancellation, suspension, renegotiation or termination of drilling contracts and programs, including drilling contracts which grant the customer termination rights if final investment decision (FID) is not received with respect to projects for which the drilling rig is contracted; oil and natural gas price volatility, customer demand for drilling rigs; downtime and other risks associated with offshore rig operations; severe weather or hurricanes; changes in worldwide rig supply, competition and technology; risks inherent to shipyard rig reactivation, upgrade, repair or maintenance; our ability to enter into, and the terms of, future drilling contracts; suitability of rigs for future contracts; governmental regulatory, legislative and permitting requirements affecting drilling operations; our ability to obtain financing, fund capital expenditures and pursue other business opportunities; the effects of our emergence from bankruptcy on the Company's business, relationships, comparability of our financial results and ability to access financing sources; actions taken by regulatory authorities or other third parties, including related to the COVID-19 global pandemic; increased scrutiny of Environmental, Social and Governance (“ESG”) practices and reporting responsibilities; changes in customer strategy; future levels of offshore drilling activity; governmental action, civil unrest and political and economic uncertainties; terrorism, piracy and military action; environmental or other liabilities, risks or losses; debt agreement restrictions that may limit our liquidity and flexibility; failure to satisfy our debt obligations; and cybersecurity risks and threats. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10-Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.
Investor & Media Contact:
Tim Richardson
Director - Investor Relations
+1-713-979-4619
Logility chosen for delivering pioneering technology solutions that power today’s supply chains
ATLANTA--(BUSINESS WIRE)--#SCM--Logility, Inc., a leader in supply chain innovation powering the sustainable and resilient enterprise, today was announced as a winner of Inbound Logistics’ 2022 Top 100 Logistics IT Providers award. This marks the 25th consecutive year Logility has received this recognition, which honors IT companies that support and enable logistics excellence.
“Implementing the best logistics technology helps large companies expand markets and drive undiscovered efficiencies. World-class solutions such as Logility are force equalizers for SMEs by levelling the playing field with their larger competitors,” said Felecia Stratton, editor, Inbound Logistics magazine. “Inbound Logistics editors selected Logility for its consistent ability to deliver innovative solutions empowering logistics and supply chain excellence for companies large and small.”
Drawn from a pool of more than 300 companies using questionnaires, phone calls, personal interviews and other research, Inbound Logistics selected the preeminent logistics IT providers who are leading the way to supply chain efficiency for 2023. Editors seek to match readers’ fast-changing needs to the capabilities of those companies selected. All companies selected reflect leadership by answering Inbound Logistics readers’ needs for simplicity, flexible pricing, return-on-investment (ROI) and frictionless implementation.
“Challenges remain and continue to evolve in today’s global supply chain, and companies have increasingly complex needs not only to succeed but to simply stay afloat,” said Allan Dow, president, Logility. “Logility proudly supports our clients by making supply chain performance and optimization a more streamlined and approachable process, delivering consistently innovative solutions and reducing costs to combat disruption.”
To check out Logility’s full recognition and access the comprehensive list of winners, please visit www.inboundlogistics.com/cms/top-100-lit. Learn more about Logility at www.logility.com
About Inbound Logistics
Inbound Logistics is the pioneering magazine empowering demand-driven enterprises. IL's educational mission is to guide businesses to efficiently manage logistics, reduce and speed inventory, and neutralize transportation cost increases by aligning supply to demand and adjusting enterprise functions to support that paradigm shift. More information about demand-driven logistics practices is available at www.inboundlogistics.com
About Logility
Accelerating the digital sustainable supply chain, Logility helps companies seize new opportunities, sense and respond to changing market dynamics and more profitably manage their complex global businesses. The Logility® Digital Supply Chain Platform leverages an innovative blend of artificial intelligence (AI) and advanced analytics to automate planning, accelerate cycle times, increase precision, improve operating performance, break down business silos and deliver greater visibility. Logility’s SaaS-based platform transforms sales and operations planning (S&OP) and integrated business planning (IBP) processes; demand, inventory and replenishment planning; global sourcing; quality and compliance management; product life cycle management; supply and inventory optimization; manufacturing planning and scheduling; retail merchandise planning, assortment and allocation. Logility customers include Big Lots, Husqvarna Group, Parker Hannifin, Sonoco Products and Red Wing Shoe Company. Logility is a wholly owned subsidiary of American Software, Inc. (NASDAQ: AMSWA). To learn how Logility can help you make smarter decisions faster, visit www.logility.com.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to substantial risks and uncertainties. References below to the Company means Logility, Inc. There are a number of factors that could cause actual results or performance to differ materially from what is anticipated by statements made herein. These factors include, but are not limited to, continuing U.S. and global economic uncertainty and the timing and degree of business recovery; the irregular pattern of the Company’s revenues; dependence on particular market segments or customers; competitive pressures; market acceptance of the Company’s products and services; technological complexity; undetected software errors; potential product liability or warranty claims; risks associated with new product development; the challenges and risks associated with integration of acquired product lines, companies and services; uncertainty about the viability and effectiveness of strategic alliances; American Software, Inc.’s ability to satisfy in a timely manner all Securities and Exchange Commission (SEC) required filings and the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 and the rules and regulations adopted under that Section; as well as a number of other risk factors that could affect the Company’s future performance. For further information about risks the Company and American Software could experience as well as other information, please refer to American Software, Inc.’s current Form 10-K and other reports and documents subsequently filed with the SEC. For more information, contact: Kevin Liu, American Software, Inc., (626) 657-0013 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
Logility® is a registered trademark of Logility, Inc. Other products mentioned in this document are registered, trademarked or service marked by their respective owners.
Marti Kirsch
Executive Vice President Marketing at Logility
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NEW YORK--(BUSINESS WIRE)--OceanTech Acquisitions I Corp. (“OceanTech” or the “Company”) (Nasdaq: OTECU), a special purpose acquisition company, today announced that it has caused to be deposited $1,548,900 into the Company’s Trust account for its public stockholders, representing $0.15 per public share, allowing the Company to extend the period of time it has to consummate its initial business combination by six months from June 2, 2022 to December 2, 2022 (the “Extension”). The Extension is permitted under the Company’s governing documents.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Relations
Lena Cati
The Equity Group, Inc.
(212) 836-9611
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HOUSTON--(BUSINESS WIRE)--Magnolia Oil & Gas Corporation (NYSE: MGY) (“Magnolia” or the “Company”) today announced the pricing of the previously announced underwritten block trade of 7,500,000 shares of the Company’s Class A common stock (the “Class A Common Stock”) by certain affiliates of EnerVest, Ltd. (the “Selling Stockholders”) resulting in total gross proceeds of $203.6 million (the “Offering”). The Offering is expected to close on or about June 6, 2022, subject to customary closing conditions. The Company will not sell any shares of its Class A Common Stock in the Offering or receive any proceeds from the Offering.
In connection with the Offering, the Company has agreed to purchase from the Selling Stockholders 2,000,000 shares of the Company’s Class B common stock at a price per share equal to the price per share at which the underwriter purchases shares of the Company’s Class A Common Stock in the Offering (the “Class B Common Stock Purchase”). The Offering is not conditioned upon the completion of the Class B Common Stock Purchase, but the Class B Common Stock Purchase is conditioned upon the completion of the Offering.
Following the closing of the Offering and Class B Common Stock Purchase, the Selling Stockholders will own 10,912,450 Class A and 28,710,432 Class B shares of the Company, or approximately 18% of the total outstanding shares of the Company.
Morgan Stanley is acting as the sole book-running manager for the Offering. The Offering is being made pursuant to an effective shelf registration statement, which has been filed with the Securities and Exchange Commission (the “SEC”) and became effective August 30, 2018. The Offering will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus, copies of which may be obtained on the SEC’s website at www.sec.gov. Alternatively, Morgan Stanley will arrange to send you the preliminary prospectus supplement and related base prospectus if you request them by contacting: Morgan Stanley, Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Magnolia Oil & Gas Corporation
Magnolia (MGY) is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders through steady production growth, strong pre-tax margins, and free cash flow. For more information, visit www.magnoliaoilgas.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 historical fact included in this press release, including, without limitation, statements regarding the Offering and the Class B Common Stock Purchase, Magnolia’s future financial position, business strategy, budgets, projected revenues, projected costs and plans and objectives of management for future operations are forward-looking statements. When used in this press release, 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, Magnolia disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Magnolia cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Magnolia, incident to the development, production, gathering and sale of oil, natural gas and natural gas liquids (“NGLs”). In addition, Magnolia cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the length, scope and severity of the ongoing coronavirus disease 2019 (“COVID-19”) pandemic, including the emergence and spread of variant strains of COVID-19, including the effects of related public health concerns and the impact of continued or new actions taken by governmental authorities and other third parties in response to the pandemic and its impact on commodity prices and supply and demand considerations; (ii) legislative, regulatory or policy changes, including those following the change in presidential administrations; (iii) the market prices of oil, natural gas and NGLs, and other products or services; (iv) the supply and demand for oil, natural gas, NGLs and other products or services; (v) production and reserve levels; (vi) geopolitical and business conditions in key regions of the world; (vii) drilling risks; (viii) economic and competitive conditions; (ix) the availability of capital resources; (x) capital expenditures and other contractual obligations; (xi) weather conditions; (xii) inflation rates; (xiii) the availability of goods and services; (xiv) cyber attacks; (xv) occurrence of property acquisitions or divestitures; (xvi) the integration of acquisitions; (xvii) general market, political and economic conditions, including as a result of COVID-19 and the political environment of oil-producing regions, including uncertainty or instability resulting from civil disorder, an outbreak or escalation of armed hostilities or acts of war or terrorism; and (xviii) the securities or capital markets and related risks such as general credit, liquidity, market and interest-rate risks. 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 differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in Magnolia’s filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Magnolia’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
Magnolia Oil & Gas Corporation
Investors
Brian Corales
(713) 842-9036
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Media
Art Pike
(713) 842-9057
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GALESBURG, Mich.--(BUSINESS WIRE)--#dieselengine--Power management company Eaton today announced its eMobility business has introduced a 48-volt programmable power electronics control unit for electrically heated catalysts that can be used by commercial vehicle manufacturers to meet tightening global emissions regulations. Rapidly warming up the exhaust aftertreatment catalyst, and keeping it warm during low engine load operation, is essential for optimal performance to reduce harmful nitrogen oxide (NOx) exhaust emissions.
“Commercial vehicle manufacturers face new challenges generating and controlling this level of electrical power for a single vehicle accessory,” said Tom Stoltz, chief engineer, 48-volt Systems, Eaton’s eMobility business. “Our control unit helps them overcome these challenges and enables electrical integration in meeting future ultralow nitrogen oxide emissions regulations.”
The air-cooled electric catalyst heater controller is part of Eaton’s broader 48-volt electrical system portfolio, which contains several technologies that allow manufacturers to integrate 48-volt architectures in next-generation vehicles. Eaton’s family of electric heater power electronics controllers are being developed for solutions between 2 kW and 15 kW of power and operate with up to 99% peak efficiency. The controller is designed to receive power commands from the aftertreatment system, provide soft-start and soft-stop capabilities for assisting in maintaining system voltage control, and diagnostic feedback of the heater element.
“The aftertreatment catalyst heater controller contains all the necessary power electronics to smoothly deliver power to the heater and ensure the vehicle electrical system remains stable during heater operation,” Stoltz said.
This technology comes at a time when vehicle manufacturers are facing tightening emissions standards around the globe. In Europe, the next stage of emissions standards, known as Euro VII for heavy-duty diesel trucks, is targeted for introduction as early as 2026. In the U.S., the California Air Resources Board and U.S. Environmental Protection Agency are introducing more stringent regulations in 2024 and 2027. Collectively, the new regulations are designed to reduce tailpipe NOx limits by up to 90%, thus accelerating the need for global engine manufacturers to employ additional emission-reducing strategies such as electric catalyst heating.
Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.
Founded in 1911, Eaton has been listed on the NYSE for nearly a century. We reported revenues of $19.6 billion in 2021 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on Twitter and LinkedIn.
Thomas Nellenbach
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(216) 333-2876 (cell)
WASHINGTON--(BUSINESS WIRE)--Nodal Exchange today announced new calendar month records for May in power, natural gas and environmental futures. In power, Nodal set a calendar month record for May with traded power futures volume of 220 million MWh, up 83% from 120 million MWh in May 2021. The majority of U.S. power futures open interest is on Nodal Exchange with 1.210 billion MWh representing $180 Billion of notional value based on both sides as of the end of May 2022.
Nodal Exchange also set a May record in natural gas with traded futures volume of 138 million MMBtu, up from 4 million in May 2021.
Nodal further posted new record volumes and open interest in the environmental market suite of products in May.
A total of 35,787 lots of environmental contracts traded in May, up 230% from 10,843 a year earlier. Open interest at the end of May for the product group was 197,504 lots, up 48% from 133,060 for the same time a year earlier.
May featured a daily volume record of 10,000 contracts on May 18th and open interest record for the product suite of 209,405 contracts on May 24th.
Open interest in Texas CRS wind and solar contracts ended the month at a record 34,757 lots, up 106% from 17,377 a year earlier. Developed in collaboration with IncubEx, Texas CRS wind and solar contracts are the most successful voluntary renewable energy certificate contracts ever listed with open interest equal to 34.7 million MWh, or the equivalent of power for 3.15 million homes for a year.
North American carbon contracts listed on Nodal traded 23,874 lots, up 844% from 2,529 a year earlier. Combined open interest for California Carbon Allowance (CCA) and Regional Greenhouse Gas Initiative (RGGI) futures ended the month at 28,459 lots, up 332% from 6,593 a year earlier.
“Nodal Exchange is proud to serve the power, natural gas and environmental markets in managing risk and we are very pleased to see continued growth in all of these markets," said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “As the year progresses, we look forward to continuing to develop and offer innovative products that meet the evolving needs of our markets.”
ABOUT NODAL
Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American commodities markets. Nodal Exchange is a leader in innovation, having introduced the world’s largest set of electric power locational (nodal) futures contracts and the world’s largest set of environmental contracts. As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. In addition, Nodal Exchange offers natural gas and environmental contracts. All Nodal Exchange contracts are cleared by Nodal Clear which is a CFTC registered derivatives clearing organization. Nodal Exchange is a designated contract market regulated by the CFTC.
PRESS:
Nodal
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- Partnership includes Avolon, Corporación América Airports, GOL, Grupo Comporte and Vertical Aerospace
- Partnership will explore infrastructure requirements to make eVTOL operations a reality in Brazil this decade
DUBLIN & LONDON & NEW YORK & SÃO PAULO--(BUSINESS WIRE)--A partnership of global leaders in aviation and airports announces its intention to explore the infrastructure requirements to bring eVTOL passenger flight to Brazil within this decade. The partnership includes:
The partnership will explore and define vertiport design and locations, as well as further infrastructure requirements for eVTOL operations in Brazil. With its well-developed Urban Air Mobility (UAM) market based on helicopter services, advanced aviation ecosystem and unique demographics, Brazil is set to become one of the pioneering markets for eVTOL services, including for Vertical’s VX4.
Each partner brings sector-specific and complementary expertise to bring eVTOL operations into operation in Brazil this decade. In particular, the partnership will benefit from Corporación América Airports’ special team dedicated to the research and development of the Advanced Air Mobility (AAM) segment and its two-decade long expertise in airports design, construction and operation, as well as passenger traffic management. Corporación América Airports has already developed its own conceptual vertiport design and progressed AAM traffic analysis across several countries.
With some of the most congested cities in the world, the introduction of eVTOLs, such as the VX4, will transform how people move around and above the urban landscape, in Brazil. The VX4 will permit short-haul zero emissions journeys that will revolutionise city air travel for Brazilians’ everyday lives by changing how we connect, commute and travel more efficiently, all in a more sustainable way.
This partnership builds on GOL’s and Grupo Comporte’s commitment to purchase or lease up to 250 of Vertical’s VX4 eVTOL aircraft from Avolon, announced last year. That commitment saw Avolon launch and lead a Working Group aiming at commercialising eVTOL aircraft in Brazil with Vertical Aerospace, Grupo Comporte and GOL. The Working Group has already conducted project familiarisation workshops with the Brazilian civil aviation authority Agência Nacional de Aviação Civil (ANAC) to permit the swift validation of the piloted, zero operating emissions and four-passenger VX4 aircraft. The VX4 is projected to have speeds of up to 200 mph, a range over 100 miles, be near silent when in flight and offer low cost per passenger mile.
Dómhnal Slattery, CEO of Avolon commented: “The scale of our ambition for eVTOLs is reflected in our partnerships with some of the leading transportation and airport operators in Latin America. We are partnered with companies that share our ambition to materially reshape the commercial aviation market. Our objective is to deliver the infrastructure requirements to bring zero emissions travel to Brazil mid this decade and revolutionise air travel in the region.”
Martin Eurnekian, CEO of Corporación América Airports, commented: “A new mobility ecosystem is arising and Corporación América Airports as a world leader in airport operations wants to be an agent of change in supporting the AAM implementation in those regions where we operate. With our expertise as airport operators in six countries in three continents along more than 20 years, we are committed to contribute with the development of the AAM ecosystem, in order to better connect people, goods and cultures and promoting a leaner, faster and more sustainable air transport.”
Paulo Kakinoff, CEO of GOL commented: "GOL completely bets on the expertise of CAAP in Advanced Aerial Mobility. Within reach, we have at hand a unique opportunity to unite the efforts of all parties involved to create a sustainable and safe operating ecosystem for eVTOL, with zero carbon emissions, both in Brazil and beyond. Constantly expanding in the regional segment, GOL is committed to including new and providential connectivity alternatives with this new air modal, based on its already extensive air network."
Stephen Fitzpatrick, Founder and CEO of Vertical commented: “I’m delighted that Vertical is partnering with Avolon, GOL, Grupo Comporte and CAAP to deliver critical eVTOL infrastructure in Brazil. It was in Brazil that I had the inspiration to begin Vertical Aerospace so it is incredible to see it becoming a reality there”.
About Corporación América Airports’ Operational Footprint
Corporación América Airports currently operates 53 airports globally, including 2 airports in Brazil. Through its Brazilian joint venture with Inframerica, Corporación América Airports operates the Brasilia airport – which is the second largest airport in Brazil by passenger numbers – and Natal. Additionally, it is the largest private airport concession operator in the world, based on the number of airports under management. Corporación América Airports brings substantial AAM thought leadership, having studied the AAM space since 2021 and has an internal AAM working group, that has developed a conceptual vertiport design and carried out AAM traffic analysis around the airports it operates in Brazil, Argentina, Uruguay and Italy.
About Avolon’s VX4 Orderbook
In June 2021, Avolon ordered 500 VX4 eVTOL aircraft from Vertical Aerospace (NYSE: EVTL) valued at US$2 billion. Since announcing that order, Avolon placed 250 VX4 aircraft with GOL and Grupo Comporte in Brazil, up to 100 aircraft with Japan Airlines in Japan, a minimum of 100 aircraft with AirAsia, and up to 100 aircraft with Gözen Holding. Avolon has now fully placed the entirety of its initial VX4 orderbook, with the orderbook being oversubscribed by 50 options.
About the VX4 eVTOL Aircraft
The four passenger, one pilot VX4 is projected to have speeds up to 200mph, a range over 100 miles, near silent when in flight, zero operating emissions and low cost per passenger mile. Upon its introduction, the VX4 will be designed to the safest certification standards, set by EASA and the CAA, at the same level as commercial aircraft. The VX4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel. Find out more: vertical-aerospace.com
About Avolon
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s second largest aircraft leasing business with an owned, managed and committed fleet, as of 31 March 2022, of 832 aircraft.
Website: www.avolon.aero
Twitter: @avolon_aero
About Corporación América Airports
Corporación América Airports acquires, develops and operates airport concessions. The Company is the largest private airport operator in the world based on the number of airports. Currently, the Company operates 53 airports in 6 countries across Latin America and Europe (Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy). In 2021, Corporación América Airports served 35.7 million passengers, 57.6% lower than the 84.2 million served prior to the pandemic, in 2019. The Company is listed on the New York Stock Exchange where it trades under the ticker “CAAP”. For more information, visit http://investors.corporacionamericaairports.com.
About GOL
GOL is the largest airline in Brazil – a leader in the corporate and leisure segments. Since founded in 2001, the Company has had the lowest unit cost in Latin America, thus democratizing air transportation. The Company has alliances with American Airlines and Air France-KLM and makes available several codeshares and interline agreements available to Customers, bringing more convenience and simple connections to any place served by these partnerships. With the purpose of “Being the First for All”, GOL offers the best travel experience to its passengers, including the largest number of seats and more space between seats; the greatest platform with internet access, movies and live TV; and the best frequent-flyer program, SMILES. GOLLOG delivers orders to different regions in Brazil and abroad in cargo transportation. The Company has a team of 15,000 highly qualified aviation professionals focused on Safety, GOL’s #1 value, and operates a standardized fleet of 135 Boeing 737 aircraft. The Company’s shares are traded on the NYSE (GOL) and the B3 (GOLL4). For further information, go to www.voegol.com.br/ri.
About Vertical Aerospace
Vertical Aerospace is pioneering electric aviation. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the OVO Group, a leading energy and technology group and Europe’s largest independent energy retailer. Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have over 1,700 combined years of engineering experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems.
Vertical’s top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification allows for a lean cost structure and enables production at scale. Vertical has a market-leading pre-order book (by value) for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes conditional pre-order options from Virgin Atlantic and Marubeni, and in doing so, is creating multiple potential near term and actionable routes to market.
Vertical’s ordinary shares listed on the NYSE in December 2021 under the ticker “EVTL”. Find out more: www.vertical-aerospace.com
Media
Avolon
Jonathan Neilan / Sam Moore
FTI Consulting
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GOL Linhas Aéreas
InPress Porter Novelli
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Corporación América Airports
Carolina Barros
Chief Communications Officer
T +541148996215 | C +5491140712447
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Vertical Aerospace
Gavin Davis / Ambika Sharma
Nepean
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NEW YORK--(BUSINESS WIRE)--#SolarPower--American Solar CEO Meir Yaniv will speak at the upcoming Reuters Global Energy Transition 2022 event taking place June 14-15 in New York.
Highlights:
If you are attending Reuters’ Global Energy Transition 2022 and would like to meet with Meir Yaniv at the conference, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..
About American Solar
American Solar is committed to achieving one goal – covering America with solar to achieve net-zero emissions targets at an accelerated pace. The company’s Modular Digital Enterprise (MDE) platform employs innovative management tools and advanced data-based technology to expedite and simplify the way homeowners purchase solar panels. American Solar’s mission is to heal the planet while helping Americans become energy independent and accumulate a substantial amount of savings year after year. The fast-growing cleantech company is headquartered in Los Angeles, California. Please visit https://www.americansolar.com for more information and follow us on LinkedIn, Facebook and Twitter.
Media
Jenna Beaucage, 508-340-6851
Michelle McMahon, 781-718-3248
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BOSTON--(BUSINESS WIRE)--Schneider Electric, the global leader in energy management and automation, was ranked second in the Gartner Supply Chain Top 25 for 2022.
This is the third time Schneider Electric has placed in the top five and the seventh consecutive year it has ranked on the list. This demonstrates the company’s ongoing commitment and investment to strengthen its supply chain strategy.
This recognition comes in a year of prolonged supply chain disruption. Companies around the world and across industries continue to be challenged by the impact of the COVID-19 pandemic, facing constrained labor availability, global shortages of raw materials and electronics, and transportation issues. It has become even more critical for corporates to rethink, reprioritize, and reinforce the robustness of their supplier network and increase local capacity.
The Gartner Supply Chain Top 25 for 2022 identifies, celebrates, and profiles companies demonstrating excellence in supply chain management amid global supply chain disruption. The list is decided based on three aspects:
“We are humbled and honored to be recognized by Gartner and our peers,” said Mourad Tamoud, Schneider Electric’s Executive Vice President of Global Supply Chain. “We continue to invest in improving our supply chain because we have an unwavering commitment to our customers and sustainability. We think this recognition is further proof we are on the right path — that investing in people and fourth industrial revolution technologies has concrete benefits for resilience, agility, efficiency, and sustainability.”
Earlier this year, Schneider was recognized by Gartner in the Power of the Profession™ Supply Chain Awards, for its Adaptive Machine Learning Driver ‘Self-Healing’ Supply Chain in the Process or Technology Innovation of the Year category. The Schneider platform optimizes performance-related parameters such as safety stock quantity, minimum order quantities, and lead times on a real-time basis through machine learning. This has resulted in savings of more than €100 million.
Sustainability is at the core of Schneider’s purpose and mission, and the first pillar in its supply chain strategy, STRIVE (Sustainable, Trusted, Resilient, Intelligent, Velocity and Efficiency). Now in its second year, the company has accelerated its transformation toward becoming the most agile, innovative, planet and customer-centric supply chain.
Last year, Schneider launched the Zero Carbon Project, which aims to lower the carbon footprint of its supply chain. More than 1,000 suppliers, which represent 70% of Schneider’s carbon emissions, have committed to the initiative to half their operations’ CO2 emissions by 2025. The Project is part of Schneider’s 2021-2025 sustainability goals, and is a concrete step towards limiting the rise in average global temperatures to 1.5°C or less by 2050, as targeted by the Paris Agreement.
Earlier this year, Schneider Electric’s Le Vaudreuil factory in France was recognized by the World Economic Forum as a Sustainability Lighthouse, one of only six globally, and two for the company with the other being Lexington, Kentucky. Its Hyderabad factory in India was also recognized as an Advanced Lighthouse, bringing the company’s total count to five.
To learn more, visit www.se.com
Gartner, The Gartner Supply Chain Top 25 for 2022, May 26, 2022
Gartner Press Release, Gartner Announces the 2022 Power of the Profession Supply Chain Award Winners, March 16, 2022
Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
GARTNER and POWER OF PROFESSION are registered trademarks and service marks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog
Discover the newest perspectives shaping sustainability, electricity 4.0, and next generation automation on Schneider Electric Insights
Hashtags: #LifeIsOn #SupplyChain #GartnerTop25
Schneider Electric Media Relations – Thomas Eck, This email address is being protected from spambots. You need JavaScript enabled to view it.; (919) 266-8623
Defense contractor elevates its offerings of turnkey solutions with addition of electric hardware components manufacturer
BELOIT, Wis.--(BUSINESS WIRE)--#FMD--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (“Arcline”), has acquired Research Tool & Die (RT&D), a privately owned manufacturer of marine electrical-systems hardware based in Carson, California. RT&D products secure and support cables and wires throughout naval ships. This acquisition adds to FMD’s expanding portfolio of turnkey solutions.
“Over the last few years, FMD has broadened the scope of our product offerings to our valued customers through the acquisition of best-in-class marine manufacturers like Research Tool & Die,” said FMD CEO George Whittier. “The global mission to defend our nation’s freedom is non-stop and requires a service partner who is up to the task, and RT&D puts FMD in an even better position to meet the needs of our customers while we support the mission of our military and marine partners.”
Founded in 1944, RT&D is a supplier of critical electrical hardware to the United States Navy and Canadian Navy. The company operates from two manufacturing facilities on its campus in Carson, California. It designs and manufactures its hardware products, including wireways, cable trays, racking systems, and light supports, and sells its products directly to naval shipyards.
“FMD has a prestigious reputation as a top-of-the-line defense contractor for clients that RT&D also serves,” said RT&D President Kevin Perrault. “This merger makes perfect sense. Our companies are forward-thinking and well-positioned to provide top-tier parts and services to our customers.”
This acquisition represents a pivotal addition to FMD’s ongoing mission to build, maintain, and service the most trusted naval power and propulsion systems on the planet. In line with the acquisition of RT&D, FMD has also recently made acquisitions to its brand family to boost its capabilities with manufacturing and service providers, including Maxim Watermakers, Federal Equipment Company (FEC), Hunt Valve Company, Ward Leonard, and Welin Lambie.
PMCF served as financial advisor to FMD.
About Fairbanks Morse Defense (FMD)
Fairbanks Morse Defense (FMD) builds, maintains, and services the most trusted naval power and propulsion systems on the planet. For more than 100 years, FMD has been a principal supplier of a growing array of leading marine technologies, OEM parts, and turnkey services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and Canadian Coast Guard. FMD stands ready to rapidly support the systems that power military fleets without compromising safety or quality. In times of peace and war, the experienced engineers, sailors, and technicians of FMD demonstrate our commitment to supporting the mission and vision of critical global naval operations wherever and whenever needed. FMD is a portfolio company of Arcline Investment Management.
About Research Tool & Die (RT&D)
Research Tool & Die Works (RT&D) is a manufacturing company with over 70 years of experience in electrical-systems hardware design and metal stamping fabrication. Skilled tool and die makers, design engineers, and production personnel have combined to build a distinguished reputation for quality products and have established RT&D as a leader in developing innovative designs and manufacturing processes. RT&D has obtained over thirty domestic and foreign patents on products and tooling techniques.
To learn more, visit www.FairbanksMorseDefense.com.
Fairbanks Morse Media Contact:
Mercom Communications
Michelle Hargis
Tel: 512-215-4452
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Department of Energy’s Better Buildings Alliance and the Institute for Market Transformation Honor OPI for the Second Time
NEWTON, Mass.--(BUSINESS WIRE)--Office Properties Income Trust (Nasdaq: OPI) announced it has been selected as a Gold Level 2022 Green Lease Leader by the U.S. Department of Energy’s (DOE) Better Buildings Alliance and the Institute for Market Transformation. Launched in 2014, Green Lease Leaders sets national standards for what constitutes a green lease, while recognizing landlords and tenants who modernize their leases to spur collaborative action on energy efficiency, cost-savings, air quality, and sustainability in buildings.
To receive this recognition, OPI qualified for credits in energy efficiency and sustainability best practices such as utility data tracking and sharing, cost recovery for capital improvements and sustainability training. This is the second time that OPI has been recognized as a Green Lease Leader after being named a Silver Level Green Lease Leader in 2019.
This honor follows recent recognition of OPI by other industry and government organizations. Recently, OPI was named ENERGY STAR® Partner of the Year for the fifth consecutive year in a row. Currently, 47 properties in OPI’s portfolio are ENERGY STAR certified. Additionally, 40 OPI properties are designated as 360 Performance Buildings by BOMA, which recognizes the best operational practices in the commercial real estate industry.
Christopher Bilotto, President and Chief Operating Officer of OPI, made the following comment:
“We are proud to achieve Gold Level recognition as a Green Lease Leader, which highlights OPI’s commitment to environmental stewardship and the continued efforts of our manager, The RMR Group, to drive sustainability initiatives across our portfolio.”
OPI is a client of The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with more than $37 billion in assets under management. All properties owned by OPI are managed by RMR, which provides asset and property management services nationwide for nearly 1,400 properties with approximately 116 million square feet of office, industrial, medical office, life science and retail space. RMR exclusively provides property management services to its clients and does not offer standalone property management services to third-parties.
About Office Properties Income Trust
Office Properties Income Trust (Nasdaq: OPI) is a national REIT focused on owning and leasing office properties primarily to single tenants and those with high credit quality characteristics. As of March 31, 2022, approximately 64% of OPI's revenues were from investment grade rated tenants. OPI owned and leased more than 170 properties as of March 31, 2022, with approximately 23 million square feet located in 32 states and Washington, D.C. In 2022, OPI was named as an Energy Star® Partner of the Year for the fifth consecutive year. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company. For more information, visit opireit.com.
About The RMR Group
The RMR Group (Nasdaq: RMR) is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. RMR’s vertical integration is supported by more than 600 real estate professionals in over 30 offices nationwide who manage more than $37 billion in assets under management and leverage 35 years of institutional experience in buying, selling, financing and operating CRE. RMR benefits from a scalable platform, a deep and experienced management team and a diversity of direct real estate strategies across its clients. RMR is headquartered in Newton, MA and was founded in 1986. For more information, please visit www.rmrgroup.com.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
Kevin Barry
Director, Investor Relations
(617) 219-1410
MISSISSAUGA, Ontario--(BUSINESS WIRE)--Schneider Electric, the leader in the digital transformation of energy management and automation is celebrating success and recognition at the world's most celebrated design awards this year.
The company's product design and engineering teams continue to apply decades of experience in making homes and buildings safe, sustainable, efficient, and sophisticated – by providing the smart, connected, and intuitive design solutions that are continuing to attract the attention of some of the world's top awards juries.
These esteemed design awards acknowledge and reward the exceptional, innovative design concept and functionality of Schneider Electric products and their role in empowering our society to make the most of our energy and resources for a climate-positive world.
IF Design Award-winning products that can produce and manage energy, adapt it to your lifestyle, keep you feeling safe and give you an opportunity to contribute to sustainable living
Recognized by 132 high-profile design experts from over 20 countries for designing products that have the greatest innovative power, Schneider Electric received seven prestigious IF Design Awards across several categories, including Hardware and Building, Industry/Tools and Interface for Digital Media.
The winning products of 2022 IF design award are the Wiser DC Smoke alarm, The SpaceLogic Controller Series, New Ovalis wiring device, The EvoPact medium voltage circuit breaker, The Facility Expert for Small Business Advisor, The Jueshi surge Protective Device, and Clipsal Max9 circuit protection.
Frederic Beuvry, SVP of Industrial Design and Ergonomics at Schneider Electric said:
"While quality and reliability are trademarks of Schneider Electric's products and solutions, design is the unique element that enhances our customer's experience. Our intuitive design creates an environment that builds a connection with our products and solutions and enables them to achieve their maximum potential. Through our unique design process, we build end-to-end experiences that are truly valuable to our customers and inspire them to contribute to sustainable living and reshape their business with our innovative and efficient solutions."
Three Red Dot design awards from product to design, including Smart Home devices and home energy products.
With the design of its products being recognized as sophisticated, ergonomic, and user-friendly, the company has also received three notable accolades at the Red Dot Awards 2022.
The winning products include, once again, Wiser Smoke Alarm and SEMC-I Surge Protection Device and Putuo MT - Motor Mechanism - an electric motor that can remotely or manually operate molded case circuit breakers. Its new large slide design impresses with its user-friendliness and efficiency and allows users to easily switch between automatic and manual modes.
Professor Dr. Peter Zec, founder and CEO of Red Dot said:
“In this year of the competition, I have been particularly struck by the exceptional creativity shown by the award-winning products, including a range of solutions from Schneider Electric. It is really impressive and praiseworthy that there are still designs out there that can surprise us with their form and functionality. This makes it clear that design cannot be restricted or brought to a standstill by unfavorable circumstances. On the contrary: more and more new ideas and creations emerge, and futuristic techniques are developed. The fact that the quality of these products equals their level of innovation makes them well-deserved winners in the Red Dot Award: Product Design 2022.”
Since 1954, the iF DESIGN AWARD has been recognized as an arbiter of quality for excellent design. The iF Design brand is renowned worldwide for outstanding design services, and the iF DESIGN AWARD is one of the most important design prizes in the world. It honors design achievements in all disciplines: product, packaging, communication and service design, architecture and interior architecture as well as professional concept, user experience (UX) and user interface (UI). All award-winning entries are featured on www.ifdesign.com.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog
Discover the newest perspectives shaping sustainability, electricity 4.0, and next generation automation on Schneider Electric Insights
Media Relations - Edelman on behalf of Schneider Electric, Juan Pablo Guerrero, Phone: +1 416 875 7173, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
VALLEY FORGE, Pa.--(BUSINESS WIRE)--#ESG--UGI Corporation (NYSE: UGI) (“The Company”) today announced that it has achieved a 35% reduction in Scope I (direct) emissions and is on track to meet its commitment of a 55% reduction by the end of fiscal 2025. The Company has also approved more than $200 million for investment in renewable solutions to date, and is on track to meet its commitment to invest over $1 billion by 2025.
These important achievements and many others are included in UGI’s fourth Environmental, Social and Governance (“ESG”) report titled, Transparency, Action, and Progress, which the Company issued today. The report also highlights UGI’s commitment to progress throughout all aspects of its ESG journey and aligns with the Company’s business activities to the United Nations Sustainable Development Goals.
Roger Perreault, President and Chief Executive Officer of UGI Corporation said, “In the past year, we made terrific strides to lower our emissions, invest in renewable solutions for our customers that do not require effort or investment on their part, sharply improve safety data, invest and support our local communities, and strengthen our commitment to diversity.”
The achievement of superior safety performance and supplier diversity are two important short- and long-term strategic initiatives for UGI. The Company’s Belonging, Inclusion, Diversity, & Equity (“BIDE”) initiative is the blueprint for achieving greater diversity of gender, race, culture, experience and thought throughout the organization.
“At UGI, the social components of ESG are critical to our culture, embody our core values and provide the building blocks for the future,” continued Perreault. “In an effort to align our ESG program with stakeholder expectations, we established two safety goals and a supplier diversity goal in last year’s report. As always, safety is not only our top priority, it is a way of life for us.”
In Fiscal 2021, UGI achieved critical safety and diversity goals including:
“At the center of all of our progress is our ultimate differentiator: UGI’s people,” said Perreault. “Last year, UGI employees donated over 50,000 hours to support community-based organizations and we celebrated our 100th year partnering with the United Way. Together, we made real progress toward meaningful goals and we are not even close to being done.”
“UGI has the distinct opportunity to drive unprecedented change in the energy sector with our renewables strategy that will benefit a more sustainable world now and for generations to come,” concluded Perreault. “We remain steadfast in making a difference in our local communities by being a trusted corporate citizen. And, we will continue to offer our employees a safe workplace that is inclusive and operates with the highest standards and integrity. We know that by achieving these goals, UGI can continue to be a company that customers want to work with; investor want to invest in; and where our employees will feel proud to build their careers.”
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, natural gas utilities in West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas, in the Mid-Atlantic region of the United States and California, and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
1Scope 1 emissions reduction target does not include emissions from the Mountaineer acquisition, which closed in 2021. The emissions from the Pine Run acquisition, announced in February 2021, will be included in the baseline 2020 number as this investment will contribute to our five year goal. The 2020 base number also takes a 5-year emissions average from the Hunlock generation facility to account for year-over-year differences in run time. |
2All domestic UGI companies use the OSHA definition for Total Recordable Injuries (“TRIR”). TRIR represents the number of work-related injuries or illness’s requiring medical treatment beyond first aid, per 200,000 hours. |
3UGI International reports rates in accordance with the Industrial Management System guidelines. A TRIR represents a work-related recordable injury to an employee or hired staff that requires medical treatment beyond first aid, as well as one that causes death, or days away from work. |
4UGI Utilities and UGI Energy Services use the American Gas Association definition for AVI, which defines an AVI as a reportable motor vehicle incident in which the driver failed to do everything that reasonably could have been done to avoid the incident. |
5UGI International reports rates in accordance with the Industrial Management System guidelines. An AVI represents an incident that caused or contributed to, in whole or in part, by actions of the company driver or contractor driver, or an incident that could have been avoided by the company driver, using reasonable defensive driving measures, which resulted in injury or damage, either to the vehicle, or to the object struck, regardless of value. |
6AmeriGas defines an AVI as any incident that could have been preventable. |
Investor Relations
Tameka Morris, 610-456-6297
Arnab Mukherjee, 610-768-7498
Shelly Oates, 610-992-3202
HOUSTON--(BUSINESS WIRE)--Global energy unicorn Octopus Energy Group has today announced that its software licensing arm, Kraken Technologies, will open its first U.S. headquarters in Houston, Texas.
The company is aiming to attract top tech talent from Space City and the rest of the country to the tech hub to roll out Kraken in the U.S., accelerating the energy transition across the globe. Within the first year, Octopus will create at least 50 new green jobs, with opportunities for further scaling as its U.S. arm continues to grow.
Octopus’ technology platform Kraken launched to market three years ago, offering its clients end-to-end management of the whole energy supply chain through one simple solution. Since then, it has been contracted to serve 11 million (40 percent) of all UK households through licensing deals with E.ON, EDF Energy and the platform’s parent company Octopus Energy Group and others. It is active and developing in ten countries across four continents, licensed to look after 25 million energy customers with world-class customer service and relentless efficiency.
Kraken is also designed to leverage smart metering, such as smart thermostats, to understand customers’ real-time energy usage, as well as management and optimization of power assets–such as EVs, solar energy, and batteries. Its flexibility arm, KrakenFlex, allows the platform to connect with a whole host of clean energy technologies, allowing it to control, dispatch and optimize those devices to match real-time energy demand and supply.
Kraken Technology developers in Houston will work hand-in-hand with the Customer Operations arm at Octopus Energy in the U.S. to enable constant innovation and upgrades to the platform to better serve customers, utility clients and partners. It will also benefit the scale of Kraken as it hopes to enter even more states and markets in North America, disrupting the energy industry and offering better service.
“I am delighted to welcome the UK’s Kraken Technologies to the growing list of Texas tech titans. Octopus Energy, the parent company, has been steadily building its customer base in Texas, where its strong customer focus has seen them disrupt the market as they have in the UK,” said Richard Hyde, British Consul General in Houston. “The decision to make Houston the home of Kraken recognises this city’s growing reputation as a tech centre. It will bring hundreds of green jobs to the energy capital of the world.”
“Energy is one of the few global sectors still undisrupted by tech – Kraken changes that. It is essentially a big robot that eliminates all the inefficiencies that energy companies have built up over the decades, automating repetitive tasks, allowing humans to do what they are best at, and unlocking smart products,” said Greg Jackson, CEO and Founder of Octopus Energy Group. “Working with our tech hubs in the UK, New Zealand, Japan and the rest of the world, our new Houston base will be able to expand Kraken’s capabilities to benefit any kind of utilities market, whether regulated or not.”
“Texas’ energy transition is continuing to accelerate, and with the recent inflation in fossil fuels, it has never made more sense to switch to solar, storage, wind, and EVs. To leverage this opportunity, technology will need to underpin the role of these assets to unlock the lowest cost nature of this rapidly changing grid. Kraken Tech, which has already allowed Octopus Energy U.S. to double its customers in 2022 alone, and offer Intelligent Octopus, an integrated demand response, fixed-rate energy plan, so customers have access to cheaper electricity when renewable energy is abundant, is perfect for this,” said Michael Lee, CEO of Octopus Energy U.S. “There are incredible opportunities coming to play in Texas this year and I couldn’t be more thrilled to have Kraken Technology on the ground in Houston with us.”
In addition to Octopus Energy U.S.’s existing presence in Houston, Texas is also a leading wind and solar generator in the U.S., making it a prime location to establish a Kraken hub stateside. Texas produces more wind power than any other state and comes in second in solar power generation. In 2021, the state even led the U.S. in developing new renewable energy projects, demonstrating its leadership to create greener, more accessible energy.
About Octopus Energy U.S.
Octopus Energy Group is a technology-driven, renewable energy retailer, directly supplying over 3.2 million customers globally with 100% green electricity at a cheaper price and with a focus on incredible customer service. Founded six years ago as a global energy retailer, Octopus Energy entered the U.S. market in 2020, forming Octopus Energy U.S. and fueling the company’s global expansion. Octopus Energy is valued at nearly $5 billion and is one of energy-tech’s fastest-growing private companies. To learn more, visit: www.octopusenergy.com.
All of this is made possible by OEG's tech arm, Kraken Tech, which offers a proprietary, in-house platform based on advanced data and machine learning capabilities, Kraken automates much of the energy supply chain to allow outstanding service and efficiency as the world transitions to a decentralized, decarbonized energy system.
Media
Oluwatona Campbell
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Beyond the Megawatt aims to benefit people and the planet through resilience, equity, and environmental sustainability
WASHINGTON, D.C.--(BUSINESS WIRE)--The Clean Energy Buyers Institute (CEBI) launched the Beyond the Megawatt Initiative recently to create a resilient, equitable, and environmentally sustainable energy system for the benefit of all by leveraging energy customer demands for clean energy. Energy customer companies continue to demonstrate their critical role in influencing the evolution of the energy market by advancing over 52 gigawatts (GW) of clean energy since 2014.
"Beyond the Megawatt embodies the priorities of a growing coalition of voices focused on maximizing scale and impact of energy procurement. There has never been a better time to craft bold, innovative solutions for the benefit of all," said Miranda Ballentine, CEO of CEBI. "Energy customers are raising the industry standard and leading the way for their peers."
Beyond the Megawatt aims to unite and amplify existing efforts for the benefit of people and planet across three key energy system pillars:
Each pillar of the Beyond the Megawatt Initiative will cultivate diverse working groups consisting of key energy industry stakeholders, including energy customers, procurement partners, and sustainability experts. The diverse coalition of voices will evaluate, foster, and advance solutions to maximize impact through clean energy procurement, while enabling an environment for customer-driven clean energy for all.
CEBI’s Beyond the Megawatt Initiative has been made possible by generous contributions of its Foundational Funders, including Johnson & Johnson, Salesforce, Amazon, Hemlock Semiconductor (HSC), General Motors, First Solar, Walmart, and Workday. CEBI also works with Groundswell, a community power non-profit, to explore how energy customer procurement can generate co-benefits for local communities.
For more information on how to participate in the Beyond the Megawatt Initiative working group or to learn about funding opportunities, please visit: cebi.org/programs/beyond-the-megawatt or contact This email address is being protected from spambots. You need JavaScript enabled to view it. for more information.
Beyond the Megawatt Initiative Foundational Funders:
"Salesforce is proud to be a foundational founder of CEBI's Beyond the Megawatt Initiative," said Max Scher, Senior Director of Sustainability, Salesforce. "Companies that purchase renewable energy have an unparalleled opportunity to help shape the industry. CEBI's work focused on integrating resilience, equity, and environmental sustainability considerations into renewable energy procurements enables companies like Salesforce to maximize the economic, social, and environmental benefits of the transition to clean energy."
"As the largest corporate buyer of renewable energy, Amazon is proud to be a founding member of the Beyond the Megawatt initiative in partnership with the Clean Energy Buyers Institute," said Kara Hurst, Vice President of Worldwide Sustainability at Amazon. "We look forward to working within the clean energy industry to promote a just transition through diversity, equity and inclusion, while also ensuring greater energy security, resilience, and biodiversity."
"Supply chains matter. How we manufacture renewables matters. Buyers have an opportunity and obligation to use our procurement power to create a more sustainable and resilient economy," said AB Ghosh, Chairman and CEO of Hemlock Semiconductor. "Solar installations are expected to more than triple in the next decade and more manufacturing will be needed to support this growth. This is our moment to build a cleaner, more secure domestic solar supply chain in an industry where new capacity is required."
"The General Motors Climate Equity Fund was established to help bring everyone along as the world adapts to climate change," said Jessica James, senior manager, Climate Equity Fund, General Motors. "We are proud to be a foundational funder of the Beyond the Megawatt equity pillar to help ensure community voices are the cornerstone of an equitable, clean energy future."
"Responsible procurement practices can play a crucial role in ensuring that the transition to a sustainable energy future is just and equitable and does not come at the price of people or the planet," said Samantha Sloan, Vice President of Policy at First Solar. "First Solar’s support for the Beyond the Megawatt Initiative reflects our commitment to advocating for responsible solar and strengthening resilient clean energy technology supply chains that enhance energy security, economic growth, and the environment."
"Programs like CEBI’s Beyond the Megawatt Initiative can go a long way in helping decarbonize our energy grid by building momentum for the specific transitions needed to reach zero emissions goals," said Bruce Harris, VP, Federal Government Affairs, Walmart. "By focusing on maximizing scale and coalition building, we believe the initiative can help build renewable energy systems for the benefit of all."
About Clean Energy Buyers Institute
The Clean Energy Buyers Institute (CEBI) is a 501c3 public charity that solves the toughest market and policy barriers to achieve a carbon-free energy system. CEBI’s aspiration is to achieve a 90% carbon-free U.S. electricity system by 2030 and a global community of customers driving clean energy. Visit cebi.org for more information.
Marisa Long, This email address is being protected from spambots. You need JavaScript enabled to view it., 412.877.7592
Katie Boyer, This email address is being protected from spambots. You need JavaScript enabled to view it., 740.507.7531
DUBLIN--(BUSINESS WIRE)--The "Global Mining Equipment Market (by Type, Application & Region): Insights & Forecast with Potential Impact of COVID-19 (2022-2026)" report has been added to ResearchAndMarkets.com's offering.
The global mining equipment market is expected to reach US$133.2 billion in 2026, growing at a CAGR of 5.00%, during 2022-2026. Factors such as increasing coal consumption in China, rising copper production from underground, growing sales of mineral fertilizers, rising demand for cobalt batteries and increasing use of electric machinery in underground mining would drive the growth of the market.
However, the market growth would be challenged by export of used mining machinery to developing countries and stringent regulations on mining activities. A few notable trends may include Upsurge in the copper consumption in passenger vehicles, accelerating capital expenditure in mining industry, use of telematics in mining machinery and growing use of outsourcing equipment.
Mining equipment market is expanding speedily all across the world due to the development in new mining tools and machinery. Technology is becoming a critical differentiating factor for manufacturers and mining companies as digitization and automation are continuously gaining momentum. Key players are focusing on reducing the cost of extraction and equipment maintenance. Moreover, the industry is witnessing a large scale adoption of different clusters of technologies, such as robotics & automation, smart sensors, and 3D printing, to enhance operational efficiency, which is propelling the market growth considerably.
Regionally, the market is analyzed across Asia-Pacific, North America, Europe, and ROW. Asia-Pacific holds the largest market share for mining equipment with India, Australia, and China as the main revenue-generating countries in region.
Companies Mentioned
Scope of the report
Key Target Audience
Key Topics Covered:
1. Market Overview
2. COVID-19 Impact
2.1 Downfall in the Iron Ore Production
2.2 Decline in Copper Exploration Spending
2.3 Fall in the Rig Count
3. Global Market
3.1 Global Mining Equipment Market by Value
3.2 Global Mining Equipment Market Forecast by Value
3.3 Global Mining Equipment Market by Type
3.3.1 Global Surface Mining Equipment Market by Value
3.3.2 Global Surface Mining Equipment Market Forecast by Value
3.3.3 Global Underground Mining Equipment Market by Value
3.3.4 Global Underground Mining Equipment Market Forecast by Value
3.3.5 Global Mineral Processing Equipment Market by Value
3.3.6 Global Mineral Processing Equipment Market Forecast by Value
3.4 Global Mining Equipment Market by Application
3.4.1 Global Metal Mining Equipment Market by Value
3.4.2 Global Metal Mining Equipment Market Forecast by Value
3.4.3 Global Non-Metal Mining Equipment Market by Value
3.4.4 Global Non-Metal Mining Equipment Market Forecast by Value
3.4.5 Global Coal Mining Equipment Market by Value
3.4.6 Global Coal Mining Equipment Market Forecast by Value
3.5 Global Mining Equipment Market by Regions
4. Regional Market
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Increasing Coal Consumption in China
5.1.2 Rising Copper Production from Underground
5.1.3 Growing Sales of Mineral Fertilizers
5.1.4 Rising Demand for Cobalt Batteries
5.1.5 Increasing Use of Electric Machinery in Underground Mining
5.2 Key Trends & Developments
5.2.1 Upsurge in the Copper Consumption in Passenger Vehicles
5.2.2 Accelerating Capital Expenditure in Mining Industry
5.2.3 Use of Telematics in Mining Machinery
5.2.4 Growing Use of Outsourcing Equipment
5.3 Challenges
5.3.1 Export of Used Mining Machinery to Developing Countries
5.3.2 Stringent Regulations on Mining Activities
6. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/5qclt1
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Loewenthal recognized among global leaders driving digital transformations through product innovation
CAMPBELL, Calif.--(BUSINESS WIRE)--ChargePoint (NYSE: CHPT), a leading electric vehicle (EV) charging network, today announced that Bill Loewenthal, senior vice president, product, has been recognized as one of the top Chief Product Officers (CPOs) in the inaugural Global CPO 20, presented by Products That Count in partnership with Capgemini Invent and Mighty Capital.
More than 3,000 nominations were submitted for the 2022 Product Awards aimed at recognizing the growing impact of the CPO now and in the future, and the 20 most influential and innovative CPOs were honored for leading digital transformations across the globe. This year, Mr. Loewenthal is recognized alongside product leaders from Autodesk, Ford, Verizon, and others.
“The Global CPO 20 represents an impressive list of product leaders striving to push the limits of innovation in their respective industries,” said Loewenthal. “To be included among such remarkable peers is a testament to the innovation at ChargePoint that is enabling a new fueling network.”
Mr. Loewenthal has decades of experience in general management and product leadership, specializing in market-based business planning and cross-functional execution. At ChargePoint, he is responsible for EV charging solutions that work for most every charging environment, including retailers, employers, fleet operators, and homeowners. As a global product leader, he has deep experience in portfolio management and platform businesses including connected devices, hardware, software, and B2B2C. Mr. Loewenthal has held leadership roles at Plantronics, ReplayTV, Mitsubishi and several startups. Over the course of his career, he has helped launch products that have impacted the lives of millions. Mr. Loewenthal holds a B.S. from San Jose State University.
“As more and more companies are pushing to be product-led, CPOs are taking on more impactful roles. These executives are the navigators of the digital revolution, and the Global CPO 20 helps us recognize them,” said Products That Count CPO Renée Niemi.
About ChargePoint
ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds of thousands of places to charge in North America and Europe. To date, more than 113 million charging sessions have been delivered, with drivers plugging into the ChargePoint network every second or less. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the ChargePoint North American or European press offices or Investor Relations.
About Products That Count
Products That Count is a global product acceleration platform reaching over 20% of all product managers worldwide. 300,000 product managers read, watch, attend, and listen to our 3,000+ free blog posts, videos, webinars, and podcasts. C/VP-level product executives such as Netflix Product VP, Coinbase CPO, and Box CPO share best practices and raise their profile in our curated product salons, podcasts, and mastermind circles. Leading brands such as Autodesk and Capital One join as corporate members to turn their product teams into a competitive advantage. Learn more at ProductsThatCount.com.
CHPT-IR
ChargePoint
Jennifer Bowcock
VP, Communications
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Patrick Hamer
VP, Capital Markets and Investor Relations
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Companies to develop a program to deploy rapid-charging, battery-integrated technology, advancing their commitment to lower-carbon solutions
LAS VEGAS--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) signed a letter of intent with FreeWire Technologies in support of its first electric-vehicle charging program in the United States, the two companies announced Wednesday.
The announcement highlights Phillips 66’s commitment to pursue lower-carbon solutions and comes as an endorsement of FreeWire’s ultrafast, battery-integrated charging technology. The two companies will explore opportunities to deploy FreeWire’s technology within Phillips 66’s U.S. fueling stations and other strategic locations.
“With EV adoption growing, Phillips 66 is working with FreeWire to bring consumers electric fueling stations that meet their expectations for high-speed, on-the-go charging,” said Pam McGinnis, Vice President, Global Marketing at Phillips 66.
FreeWire joined Phillips 66 at its branded marketer conference in Las Vegas this week to showcase the agreement. Phillips 66 plans to expand its base of electric fueling stations by leveraging its retail network of approximately 7,000 U.S. sites using the Phillips 66®, 76® and Conoco® brands.
“We are thrilled to play a leading role in Phillips 66’s electrification plans that unlock new customer relationships with EV drivers,” said Arcady Sosinov, FreeWire Founder and CEO. “As charging demand continues to surge, our battery-integrated chargers offer the streamlined, shovel-ready solution that many entering the EV charging space are looking for.”
FreeWire’s Boost Charger offers an attractive alternative to costly and time-intensive upgrades to electrical grid and power infrastructure of an individual site. It connects to existing infrastructure without burdensome construction costs and permitting restraints.
“We like battery-enabled chargers for many reasons. They reduce operational costs by charging up the battery when power is cheaper but still provide capacity to give customers a rapid charge,” said Lou Burke, Manager of Branded Sales at Phillips 66. “These types of chargers require minimal electrical infrastructure investment, significantly reducing permitting and time to value.”
FreeWire recently launched its new global headquarters, R&D and manufacturing facility in Newark, California. The company’s new 66,000-square-foot facility aims to accelerate the development and introduction of ultrafast charging and energy storage solutions.
“We see this as the first of many exciting announcements to come in the fuel delivery space,” said Sosinov. “We’re tremendously thankful to the Phillips 66 team for trusting in our technology and execution as they make this important step toward electrification.”
FreeWire’s Boost Charger was recently showcased as a finalist in Fast Company’s 2022 World Changing Ideas Awards’ Transportation Category. In April, FreeWire raised an additional $125 million in new capital from investors, including asset manager BlackRock, Inc.
About Phillips 66
Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.
About FreeWire Technologies
Founded in 2014, FreeWire Technologies is the leading manufacturer of battery-integrated EV charging stations and power solutions in the U.S. The Company’s fully-integrated Boost ChargerTM plugs into existing and ubiquitous low-voltage utility service and delivers high-power charging in areas that typically require extensive grid upgrades. The Boost Charger’s combination of proprietary battery and power conversion technology enables ultrafast EV charging at all locations, freeing customers from the costs of providing fast charging using power directly from the electric grid. FreeWire has deployed battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations across the U.S. and has partnered with bp pulse to deploy Boost Charger in its operations across the UK.
Phillips 66:
Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Thaddeus Herrick (media)
855-841-2368
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FreeWire:
Daniel Zotos
(617) 448-7497
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