• Evolves DCIM (Data Center Infrastructure Management Software) from individual data centers to cover full, hybrid IT environment
• Addresses industry requirements for more resilient, secure, and sustainable IT infrastructure
• Features custom solutions team comprised of skilled engineers who speak 24 languages and perform customer integrations everywhere in the world

BOSTON--(BUSINESS WIRE)--Schneider Electric, the global leader in the digital transformation of energy management and automation, today announced the modernization of its EcoStruxure IT software portfolio for the monitoring and management of sprawling, hybrid IT infrastructure, which has become increasingly complex in the last few years.

As IT infrastructure continues to spread, business continuity is dependent on everything from the smallest end point to the largest data center. Therefore, edge deployments are now considered as mission-critical as centralized data centers, and a new capability of software tools is required to maintain the resiliency and security of the infrastructure. Additionally, sustainability is emerging as another significant trend: the energy consumption and carbon footprint of a company’s data centers will need to be measured and managed. Based on internal Schneider Electric projections, by 2040, total data center energy consumption will be 2,700 TWh with 60% coming from distributed sites and 40% from data centers.

Legacy DCIM software wasn’t created with all of these concerns in mind, which is why Schneider Electric has invested in EcoStruxure IT. It modernizes the monitoring, management, planning, and modeling of IT physical infrastructure, with flexible deployment options that include on-prem and cloud-based solutions to support hybrid, distributed IT environments, from a few sites to thousands of sites globally.

“There’s been tremendous change since DCIM first emerged as a software category,” said Kevin Brown, SVP of EcoStruxure Solutions, Secure Power, Schneider Electric. “The hybrid IT environment is challenging even the most sophisticated CIO organization with maintaining the resiliency, security, and sustainability of their IT systems. We call this trend DCIM 3.0. Schneider Electric is investing in and evolving EcoStruxure IT to provide more capability, flexibility, and deployment options than ever before for enterprises and colocation facilities everywhere in the world.”

Addresses top industry trends of sustainability, security, and resiliency

EcoStruxure IT modernization comes at a time when 99% of large company CEOs agree that sustainability issues are important to the success of their businesses, security ranked #1 on the Allianz Risk Barometer, and 62% of IT outages can be attributed to infrastructure failures by cloud and colocation suppliers. As a complete software portfolio, EcoStruxure IT empowers customers to operate the most resilient, secure, and sustainable IT infrastructure, anywhere.

The vendor-neutral capabilities enabled by EcoStruxure IT deliver value through customer-driven applications, including:

• Monitoring and Management: Device management for power and cooling devices, as well as physical security and environmental monitoring.
• Planning and Modeling: For visualization, asset tracking, simulation, and change management for over 4000 devices.
• Custom Solutions and Integrations: Tailored solutions to address unique customer requirements through automated reporting, dashboards, migrations, and custom integrations with EcoStruxure IT and third-party systems or software.

“The IT infrastructure landscape is undergoing significant transformation as it evolves from individual data centers to distributed, hybrid IT, and it demands more than what we think of as ‘traditional DCIM’ to ensure it is resilient, secure, and sustainable,” said Industry Consultant David Cappuccio. “EcoStruxure IT is helping to simplify the complexity of sprawling IT architecture and modernize it for both current and future needs.”

EcoDataCenter’s climate-positive data center

Schneider Electric customer EcoDataCenter provides both colocation services and high-performance computing. Located in Falun, Sweden, EcoDataCenter operates with an emphasis on climate-positive solutions. When it was time to build a new data center designed to be EcoDataCenter’s greenest and most future-forward build yet, the company was in need of a partner with shared sustainability priorities and turned to Schneider Electric.

“With the knowledge and technology on Schneider’s end, and the ambition from ours, it’s a good match for an efficient and green facility,” said EcoDataCenter CTO Mikael Svanfeldt. “EcoStruxure is a platform that unifies our products to provide genuine insight on how our data center is operating.”

Specialized team of engineers performing EcoStruxure IT integrations globally

To maximize a customer’s experience with EcoStruxure IT, Schneider Electric has created a custom solutions team comprised of skilled engineers who perform custom integrations everywhere in the world. This one-of-a-kind team provides the necessary resources and capabilities to ensure a customer can deploy EcoStruxure IT successfully.

“This team embodies what Schneider Electric means when we say that we are the most local of global companies,” said Kevin Brown. “Team members speak 24 languages and represent 15 nationalities. They partner with customers in every part of the globe. We are there to make sure the customer is successful in the short term and the long term.”

EcoStruxure IT is available globally

Customers around the globe can try the software and the security assessment for free for 30 days by creating an EcoStruxure IT account. Visit EcoStruxureIT.com for individual offer availability or to create an account.

About EcoStruxure

EcoStruxure™ is our open, interoperable, IoT-enabled system architecture and platform. EcoStruxure delivers enhanced value around safety, reliability, efficiency, sustainability, and connectivity for our customers. EcoStruxure leverages advancements in IoT, mobility, sensing, cloud, analytics, and cybersecurity to deliver Innovation at Every Level. This includes Connected Products, Edge Control, and Apps, Analytics & Services which are supported by Customer Lifecycle Software. EcoStruxure™ has been deployed in almost 500,000 sites with the support of 20,000+ developers, 650,000 service providers and partners, 3,000 utilities and connects over 2 million assets under management.

From energy and sustainability consulting to optimizing the life cycle of your operational systems, we have world-wide services to meet your business needs. As a customer-centric organization, Schneider Electric is your trusted advisor to help increase asset reliability, improve total cost of ownership and drive your enterprise’s digital transformation towards sustainability, efficiency and safety.

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.

www.se.com

Discover Life Is On

Related resources:

• The Next Evolution of IT Space Management for Colocation Providers and CIOs of Hybrid IT Data Centers
• White Paper 237: Digital Remote Monitoring and Dispatch Services’ Impact on Edge Computing and Data Centers
• White Paper 281: Attributes of Effective DCIM Systems for Distributed, Hybrid IT Environments
• Succeeding at Connected Operations with Edge Computing

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: #EcoStruxureIT #DCIM #HybridIT #datacenter

Thomas Eck, 919-266-8623
This email address is being protected from spambots. You need JavaScript enabled to view it.

Leading cleantech integrator progresses on pledge to reduce customers’ carbon footprints by a cumulative 500 million metric tons by 2050

FRAMINGHAM, Mass.--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today released a full-year appendix for its 2021 ESG report centered on the theme of “Doing Well by Doing Good: Innovation. Action. Integrity.” The appendix represents companywide data for full-year 2021, updating figures originally published in the company’s 2021 report.

By sharing this appendix and annual ESG reports, Ameresco strives to maintain accountability through evaluation of company initiatives and transparency of performance metrics in tracking toward long-term ESG goal progress. Highlights from the full-year 2021 appendix include:

• In 2021, Ameresco’s renewable energy assets and customer projects delivered a carbon offset equivalent to approximately 13.6 million metric tons of carbon dioxide; totaling over 75 million metric tons of carbon dioxide since going public in 2010. This progress contributes to the company’s pledge to reduce customers’ carbon footprint by a cumulative 500 million metric tons by 2050.
  
  
• Ameresco’s operational carbon inventory for 2021 totaled 45,382 metric tons of carbon dioxide for Scope 1 and Scope 2 emissions. This progress benchmarks towards the company’s 2040 net zero commitment against 2019 emissions baseline.
  
  
• Named one of the Best & Brightest Companies To Work For In The Nation® for the third consecutive year in 2021, Ameresco ended the year with a global workforce spread across the United States (89% of workforce), Canada (6%), and the United Kingdom (5%) with a cumulative 43% employee diversity across the United States team.
  
  
• Through the end of 2021, Ameresco employees devoted a collective 2,032 hours to volunteerism initiatives and the company donated over $172,000 to non-profit 501(c)(3) organizations between employee donation matches and business donations. These are milestones mark a successful first year for the company’s newly established philanthropic programs focused on C.A.R.I.N.G. for local communities.

“Our full-year appendix will serve as an invaluable resource for our company, helping to provide data transparency when reviewing our year-to-year progress,” said Doran Hole, Executive Vice President and Chief Financial Officer at Ameresco. “Through our gathered data, we are able to hold ourselves accountable and consider companywide areas of growth while continuing to maintain a trusting relationship with our employees, customers, and stakeholders.”

Ameresco’s ESG Reporting and this 2021 full-year appendix is a product of the company’s ESG Ambassadors, which is a committee composed of department leaders across various sectors including Finance, Controls & Process, Human Resources & Operations, Marketing Communications, and more. The committee was established in 2020 in an effort to communicate the many ways ESG is intertwined in the company’s operations. The company plans to publish the next full-year 2022 ESG Report in Q2-2023.

To view the 2021 Ameresco ESG report and appendix, please visit: https://www.ameresco.com/2021-esg-report/.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and Europe. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and Europe. For more information, visit www.ameresco.com.

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

Energy Company Accelerates 2030 Targets on Renewable Energy Adoption, Clean Transportation Infrastructure, Building Electrification and More in Effort to Help Heal Our Planet

OAKLAND, Calif.--(BUSINESS WIRE)--Today, Pacific Gas and Electric Company (PG&E) unveiled breakthrough commitments to help reduce carbon emissions, reverse the impacts of climate change and heal the planet as part of its comprehensive Climate Strategy Report.

The report, which is available at www.pge.com/climate, outlines the company’s path to become “climate positive,” or going beyond net zero emissions and actively removing more greenhouse gases from the environment than it emits, by 2050.

Along the way, PG&E plans to reach net zero greenhouse gas emissions by 2040, five years ahead of California’s current carbon neutrality target, and has detailed clear milestones it plans to meet by 2030 in reducing emissions, adopting renewable energy, investing in clean transportation infrastructure and transitioning its natural gas system.

PG&E’s 2040 and 2050 commitments represent a major step in delivering upon its stand that a healthy environment and carbon-neutral energy system shall be the reality for all Californians.

These commitments are also designed to ensure equity and inclusion remain at the forefront of California’s energy transition by not only helping curb the devastating impacts of climate change felt by communities but also providing a pathway to a more equitable and affordable energy future.

PG&E is committed to partnering with a broad spectrum of stakeholders, including customers, coworkers and community organizations, to co-create plans that will help ensure equity, and to delivering on these climate commitments in a cost-effective way, with minimal incremental impact to customer bills.

“At first glance, meeting these milestones may look to be an extraordinary challenge. But extraordinary times call for extraordinary measures,” said Patti Poppe, CEO of PG&E Corporation. “As recent events have made clear, California is not just on the frontline for acting on climate change but also on the frontline of its destructive effects. We can no longer be content with merely adapting to those harms. We need to put the climate machine into reverse and begin undoing the damage. This report represents PG&E’s bold plan to do just that and will be our guiding document in the years ahead.”

2030: Immediate Climate Action

PG&E recognizes that right now is a critical time for meaningful climate change action and is committed to doing its part.

PG&E has laid out plans to dramatically reduce emissions attributable to the company and its customers by 2030—reductions from its operations and energy delivery (Scope 1, 2 and 3 emissions) equivalent to taking more than 3.2 million passenger vehicles off the road for one year. To drive this effort, the company has set targets that include:

• Renewable Energy Adoption: By 2030, PG&E plans to have 70% of its electric power mix consist of state-eligible renewable resources such as wind and solar. This target exceeds the state’s mandate of 60% for that same year and will be met in a way that is affordable to all.
• Accelerate Electric Transportation: PG&E plans to be the industry’s global model by fueling at least 3 million electric vehicles (EVs) in its service area by 2030—leading to a cumulative reduction of at least 58 million metric tons of carbon emissions. Additionally, PG&E plans to prepare the grid to enable 2 million EVs to participate in vehicle-grid integration applications, allowing EVs to be a cornerstone of energy reliability and resilience efforts.
• Building Electrification and Natural Gas Transition: PG&E plans to achieve 48 million metric tons of lifecycle carbon emissions reductions by 2030 through an increased focus on energy efficiency and building electrification. To support this goal, PG&E will be evaluating all gas capital projects for electrification alternatives and will pursue electrification for projects deemed feasible and cost-effective.
• “Green” the Gas Supply for Hard-to-Electrify Customers: By 2030, PG&E expects that renewable natural gas will make up 15% of the gas flowing through PG&E’s pipelines to core residential and commercial customers, and the company is launching a pilot to maximize readiness for hydrogen blending. PG&E also plans to reduce cumulative carbon emissions by 2.5 million metric tons by proactively converting industrial and large commercial customers unable to electrify to cleaner natural gas.

2040 and 2050: Net Zero Emissions and Climate-Positive Energy Future

Building upon the 2030 goals, PG&E will work to achieve net zero greenhouse gas emissions by 2040 by eliminating or reducing emissions and then removing remaining carbon from the atmosphere. By 2050, the company plans to be removing more greenhouse gases than it emits.

As a dual commodity utility – both gas and electric – PG&E is uniquely positioned to lead this transition with customers at the center. PG&E’s vision is to evolve the gas system to be an affordable, safe, and reliable net zero energy delivery platform. To make the transition, PG&E expects a diverse mix of resources to be available—from broad electrification to cleaner fuels such as renewable natural gas and hydrogen to nature-based solutions and carbon capture, storage, and utilization.

“We’re excited about the opportunities to co-create this future together with our many stakeholders,” said Carla Peterman, PG&E’s Executive Vice President, Corporate Affairs and Chief Sustainability Officer. “Importantly, PG&E is focused on making this transition in an equitable and viable manner that leaves no one behind. We will continue to look for ways to prioritize support for disadvantaged and vulnerable communities and the workforce in a just transition to net zero and beyond.”

Continued Focus on Climate Resilience

In addition to establishing PG&E’s net zero and climate-positive targets and milestones, the Climate Strategy Report reiterates PG&E’s overall efforts to build an energy system that is resilient to the physical impacts of climate change. These efforts include data- and science-informed decision making, undergrounding 10,000 miles of powerlines in high fire-threat areas, and implementing Enhanced Powerline Safety Settings in those same areas. These efforts, which are also detailed in PG&E’s Wildfire Mitigation Plan, demonstrate PG&E’s commitment to live up to its stands that catastrophic wildfires shall stop and that everyone and everything is always safe.

About PG&E

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

Forward-Looking Statements

This news release contains forward-looking statements that are not historical facts, including statements about the beliefs, expectations, estimates, future plans and strategies of PG&E Corporation and the Utility, including but not limited to PG&E’s Climate Strategy Report and climate-related commitments. These statements are based on current expectations and assumptions, which management believes are reasonable, and on information currently available to management, but are necessarily subject to various risks and uncertainties. In addition to the risk that these assumptions prove to be inaccurate, factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include factors disclosed in PG&E Corporation and the Utility's joint annual report on Form 10-K for the year ended December 31, 2021, their most recent quarterly report on Form 10-Q for the quarter ended March 31, 2022, and other reports filed with the SEC, which are available on PG&E Corporation's website at www.pgecorp.com and on the SEC website at www.sec.gov. PG&E Corporation and PG&E undertake no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise, except to the extent required by law.

Media Relations
415.973.5930

NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today announced that it has completed a transaction in which the Company has sold its 50% stake in two floating storage and offshore (FSO) vessels to its joint venture partner Euronav NV. The purchase price values the two FSO vessels at $300 million in total. Net of adjustments for working capital and expenses, International Seaways received approximately $140 million in cash from the sale.

The transaction has been approved by North Oil Company (“NOC”), the operator of the Al Shaheen field, whose shareholders are Qatar Energy and Total E&P Golfe Limited. The two FSO vessels have been serving the Al Shaheen field without interruption since 2010.

“Our participation in the FSO joint venture with Euronav has provided stable cash flows for more than 11 years for International Seaways and its predecessor,” commented Lois K. Zabrocky, President and CEO of International Seaways, Inc. “For the past several months, we’ve evaluated options to unlock the value of the joint venture in cash in order to further strengthen our balance sheet and support our long-term value creation strategy, which, over the last five years, has included a transformational merger and vessel purchases at cyclical lows, maintaining a strong balance sheet and returning nearly $100 million in capital to shareholders since the start of 2020. We thank Euronav for their partnership, and we are confident that they will continue to operate these vessels with the highest standards.”

Hugo De Stoop, CEO of Euronav said, “This represents an important strategic milestone for Euronav and allows us to provide in full a significant source of long-term earnings visibility for our shareholders. Euronav has for many years maintained operational control of these assets and it makes sense now for us to assume full economic control. International Seaways has been a strong and reliable partner since 2008 and we are grateful for their support. These operational units have already provided substantial value to our customer since 2010 and the long-term contracts reflect Euronav’s operational capability in diversifying activities beyond the traditional crude oil transportation sector and generating superior returns on capital.”

INCREASED REGULAR CASH DIVIDEND

Additionally, the Company announced that its Board of Directors has declared a cash dividend of $0.12 per share for the second quarter of 2022. The declaration represents an increase of $0.06 per share from the Company’s historical quarterly dividend of $0.06 per share since the start of 2020. The dividend will be paid on June 29, 2022, to shareholders of record at close of business on June 17, 2022.

ABOUT INTERNATIONAL SEAWAYS, INC.

International Seaways, Inc. (NYSE: INSW) is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 78 vessels, including 13 VLCCs (including three dual-fuel, LNG-powered newbuilds to be delivered in the first quarter of 2023), 13 Suezmaxes, five Aframaxes/LR2s, eight Panamaxes/LR1s and 39 MR tankers. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY. Additional information is available at https://www.intlseas.com.

Forward-Looking Statements

This release contains forward-looking statements. In addition, the Company may make or approve certain statements in future filings with the U.S. Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of the Company. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate to the consequences of the Company’s merger with Diamond S and plans to issue dividends, its prospects, including statements regarding vessel acquisitions, expected synergies, trends in the tanker markets, and possibilities of strategic alliances and investments. Forward-looking statements are based on the Company’s current plans, estimates and projections, and are subject to change based on a number of factors. Investors should carefully consider the risk factors outlined in more detail in the Annual Report on Form 10-K for 2021 for the Company, the Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, and in similar sections of other filings made by the Company with the SEC from time to time. The Company assumes no obligation to update or revise any forward-looking statements. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by the Company with the SEC.

Investor Relations & Media:
Tom Trovato, International Seaways, Inc.
(212) 578-1602
This email address is being protected from spambots. You need JavaScript enabled to view it.

SAN FRANCISCO & BOSTONSAN FRANCISCO & BOSTON--(BUSINESS WIRE)--Voltus, Inc. (“Voltus”), the leading DER software platform, announced today that its nearly 2,600 MW portfolio is prepared to help meet anticipated supply shortages this summer across the U.S. and Canada. In a recently published report, the North American Electric Reliability Corp. (NERC) warned that Texas, New England, the Midcontinent Independent System Operator (MISO), and parts of the West are at higher risk of energy shortfalls.

“Unfortunately, consumers should expect their energy costs to increase substantially and remain at higher levels for the foreseeable future,” said Gregg Dixon, CEO of Voltus. “Consumers are now paying the price for a lack of long-term investment in electricity infrastructure that can no longer be put off. As a result, there is also a greater risk of power outages from a lack of sufficient supply and reliable resources.”

Dixon explains that utilizing distributed energy resources and paying energy consumers to be part of the solution is key to preserving the integrity and reliability of the electric grid. “With the summer months upon us, you can’t build traditional power plants that take years to develop, to fill the gap. The good news is that regulators and grid operators can unleash the power of distributed energy resources at tremendous scale and speed to address impending power outages. Voltus stands ready to help in every region with our virtual power plants.”

Voltus’s DER portfolio has grown to approximately 2,600 MW in 2022, which includes approximately 500 MW that was announced to support MISO after it released the results of its 2022-2023 annual Planning Resource Auction (PRA), which indicated capacity shortfalls. Voltus’s portfolio includes every DER type, including energy storage, distributed generation, demand response, and energy efficiency and is delivered through every customer class, including commercial, industrial, and residential customers.

Voltus has expanded its available programs to customers, growing to nearly sixty programs in 2022, including quick-response programs activated across seven power markets. “Quick-response programs, or Operating Reserves, provide grid support during contingency events and are part of routine grid balancing, often to balance the intermittency of a growing renewables fleet in North America,” said Dana Guernsey, Chief Product Officer at Voltus. “By offering Operating Reserves, Voltus delivers the same full-stack grid services provided by a traditional central power station.”

For more information on preparing your business for peak season, contact This email address is being protected from spambots. You need JavaScript enabled to view it., or join Voltus’s webinar on June 21, 2022 at 1pm ET for additional information.

About Voltus
Voltus is the leading software platform connecting distributed energy resources to electricity markets, delivering less expensive, more reliable, and more sustainable electricity. Our commercial and industrial customers and DER partners generate cash by allowing Voltus to maximize the value of their flexible load, distributed generation, energy storage, energy efficiency, and electric vehicle resources in these markets. To learn more, visit www.voltus.co.

On November 30, 2021, Broadscale Acquisition Corp. ("Broadscale") (Nasdaq: SCLE) entered into a definitive agreement for a business combination with Voltus. The combined company is expected to be listed on the Nasdaq upon completion of the transaction. The transaction is expected to occur in the third quarter of 2022 and is subject to approval by Broadscale's stockholders, the registration statement being declared effective by the SEC, and other customary closing conditions.

Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended, including certain financial forecasts and projections. All statements other than statements of historical fact contained in this press release, including statements as to future results of operations and financial position, revenue and other metrics, planned products and services, business strategy and plans, objectives of management for future operations of Voltus market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by Broadscale and its management, and Voltus and its management, as the case may be, are inherently uncertain and many factors may cause the actual results to differ materially from current expectations which include, but are not limited to: 1) the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive merger agreement with respect to the business combination; 2) the outcome of any legal proceedings that may be instituted against Voltus, Broadscale, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; 3) the inability to complete the business combination due to the failure to obtain approval of the stockholders of Broadscale or Voltus, or to satisfy other conditions to closing the business combination; 4) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; 5) the ability to meet Nasdaq's listing standards following the consummation of the business combination; 6) the risk that the business combination disrupts current plans and operations of Voltus as a result of the announcement and consummation of the business combination; 7) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; 8) costs related to the business combination; 9) changes in applicable laws or regulations; 10) the possibility that Voltus or the combined company may be adversely affected by other economic, business and/or competitive factors; 11) Voltus’s estimates of its financial performance; 12) the risk that the business combination may not be completed in a timely manner or at all, which may adversely affect the price of Broadscale’s securities; 13) the risk that the transaction may not be completed by Broadscale’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Broadscale; 14) the impact of the novel coronavirus disease pandemic, including any mutations or variants thereof, and its effect on business and financial conditions; 15) inability to complete the PIPE investment in connection with the business combination; and 16) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Broadscale’s registration statement on Form S-4 (File No. 333-262287), filed with the SEC on January 21, 2022 and as amended by Amendment No. 1 filed on March 18, 2022 (collectively, the “Registration Statement”), and other documents filed by Broadscale from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Broadscale nor Voltus gives any assurance that either Broadscale or Voltus or the combined company will achieve its expected results. Neither Broadscale nor Voltus undertakes any duty to update these forward-looking statements, except as otherwise required by law.

Use of Projections
This press release may contain financial forecasts of Voltus. Neither Voltus’s independent auditors, nor the independent registered public accounting firm of Broadscale, audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this press release, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this press release. These projections should not be relied upon as being necessarily indicative of future results. The projected financial information contained in this press release constitutes forward-looking information. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements'' above. Actual results may differ materially from the results contemplated by the projected financial information contained in this press release, and the inclusion of such information in this press release should not be regarded as a representation by any person that the results reflected in such projections will be achieved.

Additional Information and Where to Find It
In connection with the proposed transaction, Broadscale has filed with the U.S. Securities and Exchange Commission the Registration Statement, which included a preliminary proxy statement and a preliminary prospectus. After the Registration Statement has been declared effective, Broadscale will mail a definitive proxy statement /prospectus relating to the proposed transaction to its stockholders as of the record date established for voting on the proposed transactions. Broadscale’s stockholders and other interested persons are urged to carefully read the Registration Statement, including the preliminary proxy statement / preliminary prospectus, and any amendments thereto, and, when available, the definitive proxy statement/prospectus and other documents filed in connection with the proposed transaction, as these materials contain, or will contain, important information about the proposed transaction and the parties to the proposed transaction.

Broadscale’s stockholders and other interested persons will be able to obtain free copies of the Registration Statement, the preliminary proxy statement / preliminary prospectus, the definitive proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC, without charge, when available, at the website maintained by the SEC at www.sec.gov.

The documents filed by Broadscale with the SEC also may be obtained free of charge at Broadscale’s website at https://www.broadscalespac.com or upon written request to 1845 Walnut Street, Suite 1111, Philadelphia, PA 19103.

NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PRESS RELEASE, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.

Participants in the Solicitation
Broadscale and Voltus and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed transactions. Broadscale’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of Broadscale listed in the Registration Statement. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed business combination is set forth in the Registration Statement.

No Offer or Solicitation
This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

Investor Relations Contact
J.B. Lowe
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Contact
Matt Dallas, ICR, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) announced today the appointment of Melissa Cougle to the position of Chief Financial Officer (“CFO”), effective June 15, 2022. Ms. Cougle succeeds Brandon Blossman, who will be stepping down as Ranger’s CFO to pursue other opportunities, effective June 10, 2022.

Ms. Cougle brings nearly two decades of finance leadership experience in the energy and oilfield services industry, including CFO roles at Frank’s International and National Energy Services Reunited. She also serves on the boards of both Tidewater Incorporated and the Energy Workforce & Technology Council. She brings a deep public company finance background including strategic planning, accounting, financial analysis, public company reporting and internal financial controls.

“This is an exciting time for the Company on the heels of our recent acquisitions, which have positioned the Company for meaningful growth and cash flow generation in the quarters and years ahead,” commented Stuart Bodden, President and Chief Executive Officer of Ranger. “Melissa’s past positions give her significant strategic insight into the role of corporate finance within an oilfield services company, and I am confident that she will bring fresh new perspectives to our leadership team following our significant growth and expansion of our shareholder base. We are confident in our strategy, and I look forward to working with Melissa and the rest of the executive team to continue building a sustainable, high returns business centered on top quality clients, excellent service and assets, effective technologies, efficient operations and processes, and ESG stewardship.”

“We thank Brandon for his leadership over the past four years,” stated Bill Austin, Chairman of the Board. “His work at Ranger reflects his integrity and drive as a leader and we wish him great success in his future endeavors. We appreciate Brandon’s support as we have integrated several transformational acquisitions while maintaining strong operational and financial performance and a solid balance sheet.”

About Ranger Energy Services, Inc.

Ranger is one of the largest providers of high specification mobile rig well services, cased hole wireline services, and ancillary services in the U.S. oil and gas industry. Our services facilitate operations throughout the lifecycle of a well, including the completion, production, maintenance, intervention, workover and abandonment phases.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements represent Ranger’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Ranger’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Ranger does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Ranger to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in our filings with the Securities and Exchange Commission. The risk factors and other factors noted in Ranger’s filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement.

Shelley M. Weimer
VP of External Reporting & Compliance
(713) 935-8900
This email address is being protected from spambots. You need JavaScript enabled to view it.

The climate tech company will focus on reinventing the enterprise resource planning (ERP) space to help climate-conscious Fortune 500 companies operationalize reuse.

CHICAGO--(BUSINESS WIRE)--#chicago--Removed Energy Impact Partners from the list of additional investments in the first paragraph, second sentence of release dated June 7, 2022.

The updated release reads:

RHEAPLY RAISES $20 MILLION TO DRIVE REVOLUTIONARY SHIFT IN ENTERPRISE RESOURCE MANAGEMENT

The climate tech company will focus on reinventing the enterprise resource planning (ERP) space to help climate-conscious Fortune 500 companies operationalize reuse.

Rheaply, a resource exchange platform helping industry-leading organizations better visualize, quantify, and utilize their purchased goods, materials, and resources, today announced that it has raised $20MM in an inter-series round anchored by Revolution’s Rise of the Rest Seed Fund. Additional investments came from the John Doerr Family Trust; Coupa Ventures; PSP Growth; Rankin Family Ventures; and executives, including Joe Thomas (CEO & co-founder of Loom). Existing investors, including High Alpha, Salesforce Ventures Impact Fund, Emerson Collective, Techstars, and HPA, also returned to participate.

Since its founding in 2016, Rheaply has continuously driven forward the conversation around the power of reusing workplace resources. Rheaply’s innovative technology has significantly increased adoption of — and thus access to the benefits of — the circular economy for Fortune 500 companies, governments, and other large organizations. The company services private enterprises such as Google, Exelon, and AbbVie, establishing Rheaply as a household name not only in climate tech, but in the broader business world.

As the company has grown, it has sharpened its focus on embodied carbon in the built environment, a sector that produces a huge share (37%) of total carbon emissions globally. Because of Rheaply’s work, including its recent launch of a new estimated embodied carbon avoidance feature on the platform, organizations across a wide range of verticals can now understand how the reuse of resources translates to avoided carbon emissions. These new insights equip organizations to take action more effectively against climate change.

With this funding, Rheaply intends to further scale its tech development efforts, develop its consulting services to help more organizations strategically progress toward their sustainability goals, and grow its partnership program to bring more industry, technology, and community partners into the circular economy. The company will focus on developing a new solution that Rheaply refers to as “recirculated enterprise resource planning” (“re-ERP”). Rheaply’s solution will address the limitations of existing ERP systems by enabling organizations to track and exchange resources with utility from purchasing stages (upstream) to disposition decisions (downstream). Clients will gain enhanced capabilities for evaluating and managing the total environmental impact of their business resource management operations.

The funding round is also significant as it makes Rheaply co-founder and CEO Dr. Garry Cooper Jr. the single highest-funded Black entrepreneur in climate tech in the city of Chicago.

“As a Black founder, I am proud to have achieved this funding milestone. However, the takeaway I want to emphasize is the fact that investors have recognized the incredible nature of the solution our team has built,” said Garry Cooper. “We are honored and energized by our investors’ support for our vision, and we can’t wait to keep building.”

“Ever since Garry’s winning pitch at our Rise of the Rest Equity Tour Pitch Competition in 2020, we’ve been excited by Rheaply’s momentum,” said Steve Case, chairman and CEO of Revolution and co-founder of AOL. “Rheaply is not just scaling a great company in the ever-growing Chicago tech ecosystem, it is developing a critical solution for businesses that are trying to effectively use and recycle physical resources while also combating climate change.”

With this raise, the Chicago-based company intends to expand its work in the energy and utilities sector by building a community around circularity at Nicor Gas.

“At Nicor Gas, we are committed to being the energy industry leader in sustainability and are taking proactive steps to reduce our greenhouse gas emissions and to reach net-zero methane emissions from our operations by 2030,” said Meena Beyers, vice president of Community and Business Development at Nicor Gas. “We are proud to partner with Rheaply to implement solutions that align with our decarbonization goals and look forward to working together to reuse our existing resources and supplies to eliminate unnecessary waste.”

"Circularity and reuse are central to achieving net zero. Rheaply's technology has the potential to help every organization ‘close the loop’ by reducing unnecessary waste and avoiding additional GHG emissions. At Logitech, we are extremely excited about the future working with Rheaply," added Bracken Darrell, CEO of Logitech.

This news comes on the heels of several major Rheaply milestones, including the launch of the estimated embodied carbon avoidance feature and a partnership with the City of San Francisco and the Carbon Neutral Cities Alliance.

To learn more about how Rheaply helps organizations strategically design and execute sustainability efforts, please visit rheaply.com.

About Rheaply

The Rheaply platform is a cloud-based resource exchange technology application for connecting people and organizations with resources, improving reuse outcomes, and catalyzing the circular economy. As the only market solution that combines an asset management system with an online marketplace, Rheaply’s platform enables organizations to exchange materials and resources more effectively, eliminating unnecessary waste, avoiding carbon emissions, and reducing spend. To learn more about Rheaply, visit rheaply.com or follow @RheaplyInc.

For career inquiries, contact This email address is being protected from spambots. You need JavaScript enabled to view it. or visit rheaply.com/careers.

Brian Garrido
3Points
323.206.8293
This email address is being protected from spambots. You need JavaScript enabled to view it.

• The Company generated net sales of $31.2 million for the first quarter

• Income from operations improved $1.1 million versus the first quarter of 2021

• Backlog of $59.2 million at April 30, 2022 compared to $39.3 million on January 31, 2022

NILES, Ill.--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the first quarter ended April 30, 2022.

“Revenues for the first quarter of $31.2 million increased 28% from the $24.4 million for the same quarter last year. The resulting income from operations of $0.2 million was also above the $0.9 million loss incurred in the same quarter of 2021," noted President and CEO David Mansfield. "While both revenues and margins improved, there was a corresponding increase to operating expenses, which was partly due to personnel costs and driven by the increased levels of activity."

"During the first quarter of 2022, the oil and gas market in Canada has been returning to increased levels of investment, and the industry outlooks are positive. There has also been a notable improvement to our results in Saudi Arabia, where investments in construction projects are expected to return to pre-pandemic levels.

"Our current backlog of $59.2 million is 50% higher than our January 31, 2022 backlog. After a significant amount of new awards during the quarter, including in Saudi Arabia and the United States, our backlog is at approximately the same level as it was this time last year, and it is distributed very similarly between our different business units.

"The net income from our results does not reflect the same period improvement as is described above, since there is inconsistency in the rates of taxation in the different countries where we operate, and also because we are not recognizing the full tax benefit of past losses. This makes the calculation of effective tax rates extremely inconsistent from period to period, and this is highlighted in the tax charge for this quarter,” concluded Mr. Mansfield.

First Quarter Fiscal 2022 Results

Net sales were $31.2 million in the current quarter, an increase of $6.8 million, or 28%, from $24.4 million in the prior year quarter. The increase was a result of increased sales volumes, partly due to recovery from the effects of the COVID-19 pandemic.

Gross profit increased to $7.0 million, or 23% of net sales, in the current quarter from $4.5 million, or 18% of net sales, in the prior year quarter. This increase was driven by higher sales volumes and project and product mix.

General and administrative expenses increased $1.2 million, or 28%, from $4.4 million in the prior year quarter to $5.7 million in the current quarter. Approximately $0.9 million of this increase was the result of increased incentive compensation. This amount was based on 2021 actual payouts as compared to estimated amounts previously accrued in addition to accruals made for 2022 forecasted results as compared to the prior year quarter, where no incentive compensation was recorded. The remainder of the increase was due to additions to headcount in support of the Company's business growth.

Selling expenses were relatively consistent, increasing slightly to $1.2 million in the current quarter, compared to $1.0 million in the prior year quarter.

Net interest expense increased to $0.4 million in the current quarter from $0.2 million in the prior year quarter. This increase was related primarily to the sale leaseback transaction for our operating facility in Tennessee entered into in April 2021.

Other income, net decreased to an income of less than $0.1 million in the current quarter, compared to approximately $0.4 million in the prior year quarter. In the prior year quarter, the Company received grants from the Canadian government under the Canadian Emergency Wage Subsidy ("CEWS") and Canadian Emergency Rent Subsidy ("CERS") programs. The Company was approved for and received approximately $0.3 million and $0.1 million in grants under the CEWS and CERS programs, respectively, during the prior year quarter. Grants to the Company under both programs ended in the second quarter of 2021.

Loss from operations before income taxes decreased by $0.5 million to a loss of $(0.2) million in the current quarter from a loss of $(0.7) million in the prior year quarter. The improvement was a result of increased sales volumes and margins as described above.

The Company's worldwide effective tax rates ("ETR") were (455.9%) and (24.3%) in the current quarter and the prior year quarter, respectively. The change in the ETR from the prior year quarter to the current year quarter is largely due to changes in the mix of income and loss in various jurisdictions.

The resulting net loss of $(0.9) million in the current quarter was relatively consistent with the net loss of $(0.8) million in the prior year quarter.

Percentages set forth above in this press release have been rounded to the nearest percentage point and may not exactly correspond to the comparative data presented.

Perma-Pipe International Holdings, Inc.

Perma-Pipe International Holdings, Inc. (the “Company”) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, the Company has operations at thirteen locations in six countries.

Forward-Looking Statements

Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “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, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the impact of global economic weakness and volatility; (iv) fluctuations in steel prices and the Company’s ability to offset increases in steel prices through price increases in its products; (v) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (vi) the Company’s ability to repay its debt and renew expiring international credit facilities; (vii) the Company’s ability to effectively execute its strategic plan and achieve sustained profitability and positive cash flows; (viii) the Company's ability to collect a long-term account receivable related to a project in the Middle East; (ix) the Company’s ability to interpret changes in tax regulations and legislation; (x) the Company's ability to use its net operating loss carryforwards; (xi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company’s over-time revenue recognition; (xii) the Company’s failure to establish and maintain effective internal control over financial reporting; (xiii) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (xiv) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xv) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xvi) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xvii) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xviii) reductions or cancellations of orders included in the Company’s backlog; (xix) risks and uncertainties specific to the Company's international business operations; (xx) the Company’s ability to attract and retain senior management and key personnel; (xxi) the Company’s ability to achieve the expected benefits of its growth initiatives; and (xxii) the impact of cybersecurity threats on the Company’s information technology systems. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at https://www.sec.gov and under the Investor Center section of our website (http://investors.permapipe.com.)

The Company's Form 10-Q for the quarter ended April 30, 2022 will be accessible at www.sec.gov and www.permapipe.com. For more information, visit the Company's website.

Note: Per share calculations could be impacted by rounding.

Perma-Pipe International Holdings, Inc.
David Mansfield, President and CEO

Perma-Pipe Investor Relations
(847) 929-1200
This email address is being protected from spambots. You need JavaScript enabled to view it.

HÉRICOURT, France--(BUSINESS WIRE)--#cleanmobility--GAUSSIN (EURONEXT GROWTH ALGAU - FR0013495298), a pioneer in the clean and intelligent transport of goods and people, announced that management will participate in the Roth Capital Partners 8^th Annual London Conference from June 21 to June 23, 2022.

Christophe Gaussin, CEO, will participate in meetings on June 21 and June 22; Jean-François Sturmel, CFO, and Gary Patterson, EVP North America, will participate in meetings on June 21, 22 and 23.

An investor presentation will be available on June 16, 2022 by visiting the Investors section of the company’s website.

About GAUSSIN

GAUSSIN is an engineering company that designs, assembles and sells innovative products and services in the transport and logistics field. Its know-how encompasses cargo and passenger transport, autonomous technologies allowing for self-driving solutions such as Automotive Guided Vehicles, and the integration of all types of batteries, electric and hydrogen fuel cells in particular. With more than 50,000 vehicles worldwide, GAUSSIN enjoys a strong reputation in four fast-expanding markets: port terminals, airports, logistics and people mobility. The group has developed strategic partnerships with major global players in order to accelerate its commercial penetration: Siemens Postal, Parcel & Airport Logistics in the airport field, Bolloré Ports and ST Engineering in ports and Bluebus for people mobility. GAUSSIN has broadened its business model with the signing of license agreements accelerating the diffusion of its technology throughout the world. The acquisition of METALLIANCE confirms the emergence of an international group present in all segments of intelligent and clean vehicles.

In October 2021, GAUSSIN won the Dubai World Challenge for Self-Driving Transport.

In January 2022, GAUSSIN successfully completed the 2022 Dakar Rally with its H2 Racing Truck, the first hydrogen-powered vehicle to enter the race and generate zero CO2 emissions.

In March 2022, Christophe GAUSSIN was named “Hydrogen Personality of the year” at the Hydrogénies - Trophées de l'hydrogène ceremony held at the French National Assembly.

GAUSSIN has been listed on Euronext Growth in Paris since 2010.

More information on www.GAUSSIN.com.

For more information on GAUSSIN, go to www.GAUSSIN.com

GAUSSIN 
Christophe GAUSSIN, This email address is being protected from spambots. You need JavaScript enabled to view it.
+33(0)3.84.46.13.45

Ulysse Communication
Nicolas Daniels, This email address is being protected from spambots. You need JavaScript enabled to view it.
+33(0)6.63.66.59.22

Charles Courbet, This email address is being protected from spambots. You need JavaScript enabled to view it.
+33(0)6.28.93.03.06

LHA Investor Relations – USA
Jody Burfening, This email address is being protected from spambots. You need JavaScript enabled to view it.
(212) 838-3777

RooneyPartners - USA
Jeanene Timberlake, This email address is being protected from spambots. You need JavaScript enabled to view it.
(646) 770-8858

BOLT-ON ACQUISITION HIGHLIGHTS

• Bolt-on acquisition (the “Asset Acquisition”) of high oil-cut, core working interest properties in the Williston Basin for $170 million initial purchase price from a private party (the “Seller”)
• Average production >2,500 Boe per day (2-stream, ~83% oil) expected over the next twelve months
• Inventory rich acquisition with 17.5 net undeveloped locations, including 2.6 net wells in process and ~3,500 net acres
• NOG owns existing interests in approximately 50% of the acquired property value, providing high confidence and visibility
• Forward 1-year unhedged cash flow from operations (4/1/22 effective date) expected to be greater than $73 million at strip pricing as of 5/31/22, representing an initial purchase price transaction multiple of 2.3x
• Strong free cash flow profile with only ~$20 – 25 million of annual sustaining capital expenditures necessary to maintain production
• Transaction expected to be accretive to all material valuation metrics, including TEV / EBITDA, earnings per share, free cash flow and cash flow per share over a multi-year period
• Acquisition to be financed with cash; continue to expect 2022 year-end leverage ratio <1x

ADDITIONAL ORGANIC AND GROUND GAME ACTIVITY, GUIDANCE AND SHAREHOLDER RETURN UPDATES

• Strong organic elections combined with commitments on five meaningful Ground Game transactions driving additional completions in 2022 and 2023
• 2022 wells spud expected to grow to 65 net wells, a 10-well increase compared to original forecast; average wellhead IRR expected to be >100%
• Raising production and capital expenditures guidance to adjust for the Asset Acquisition, increased well count and increased Ground Game budget; expect Q4:22 exit rate to exceed high-end of new annual production guidance range
• NOG has executed significant hedges for the Asset Acquisition and increased activity
• NOG has completed additional Preferred Stock repurchases and initial Notes repurchases

MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced that it has entered into an acquisition agreement in the Williston Basin and provided additional updates on operations and guidance.

WILLISTON BASIN ACQUISITION

NOG has entered into a definitive agreement to acquire non-operated interests in the Williston Basin for an initial purchase price of $170 million in cash, subject to typical closing adjustments. The Seller may earn an additional $5 million in contingent payments in 2023 if WTI oil prices exceed $92.50 on December 30, 2022. NOG expects to fund the acquisition with cash on hand, operating free cash flow and borrowings under NOG’s revolving credit facility.

At closing, production on the assets is expected to be greater than 2,300 Boe per day (2-stream, ~85% oil) and NOG expects average production of approximately 2,500 Boe per day over the next twelve months post-closing (2-stream, ~83% oil). NOG expects approximately $15 million of capital expenditures to be incurred post-closing in 2022. These high-quality properties have operating costs lower than NOG’s corporate average on its Williston Basin properties.

The acquired assets are primarily located in Dunn, McKenzie and Williams Counties, ND and include approximately 3,500 acres, 9.2 net producing wells, 2.6 net wells-in-process and 14.9 net engineered economic undeveloped locations. NOG expects 0.8 net wells to be turned-in-line in 2022 post-closing. The assets are operated primarily by Marathon Oil, Continental Resources and ConocoPhillips, and NOG owns existing interests in approximately 50% of the acquired property value.

The effective date for the transaction is April 1, 2022, and NOG expects to close the transaction in August 2022. The obligations of the parties to complete the transactions contemplated by the purchase agreement are subject to the satisfaction or waiver of customary closing conditions.

HEDGING UPDATE

In addition to its continuous hedging program, NOG has hedged, as standard practice, a significant portion of the pending transaction and for increased activity levels. Updated hedge schedules can be found in NOG’s related June Acquisition Presentation at http://ir.northernoil.com.

ADDITIONAL ORGANIC DEVELOPMENT AND GROUND GAME SUCCESS

NOG has agreed to terms on five meaningful Ground Game transactions in the second quarter of 2022, which should drive significant growth to both late 2022 and 2023 projected volumes and cash flows. Additional organic elections and Ground Game wells to be turned-in-line are roughly equally weighted to the Williston and Permian Basins. NOG expects this activity to turn-in-line an additional 3.7 net wells in the back half of 2022 and 1.3 net wells in the first half of 2023. NOG has allocated a portion of its existing Ground Game budget towards these transactions. NOG’s Ground Game capital budget for 2022 has been increased by $40.0 million, inclusive of both potential acquisition and development costs. The increase to the Ground Game budget is driven by an increasing opportunity set of near-term projects with attractive full cycle returns.

REVISED 2022 PRODUCTION AND CAPITAL SPENDING GUIDANCE

NOG anticipates, pro forma for the transactions and at current strip pricing, increasing its Free Cash Flow target for 2022 from >$425.0 million to >$500.0 million.

NOG anticipates a Q4:22 exit rate above the high-end of the revised 2022 annual production guidance range.

NOG will revise additional guidance line items upon closing of the transaction, scheduled for August 2022.

INCREASED SHAREHOLDER RETURNS

In the second quarter-to-date, NOG has in total repurchased $18.7 million in Liquidation Preference value of its Series A Convertible Preferred Stock (the “Preferred”), or an additional $15.0 million since reporting its first quarter 2022 results. These transactions were completed by mid-May 2022 at lower than current market prices. In total, the $55.0 million of Preferred repurchased year-to-date reduces annualized dividend payments by $3.6 million per annum and have reduced the diluted share count by approximately 2.4 million shares, based on the current conversion ratio. The current outstanding Liquidation Preference value of the Preferred is $166.9 million.

Additionally, NOG repurchased $5.0 million of its 8.125% Senior Unsecured Notes due 2028 (the “Notes”) at 98.6% of par value, plus accrued interest. Currently $745.0 million of par value of Notes remain outstanding.

MANAGEMENT COMMENTS

“We continue to use a multi-pronged approach to create value for our shareholders,” commented Nick O’Grady, NOG’s Chief Executive Officer. “As the natural consolidator of working interests, our strong financial position has allowed us to recycle our substantial free cash flow into meaningful growth opportunities. Importantly, we still expect less than a 1x leverage ratio by year-end 2022. We are well ahead of our goals for this year, but these developments are setting the stage for material growth in volumes and cash flow for 2023.”

“While the Permian continues to be a source of growth, we continue to find significant opportunities to grow our Williston Basin position,” commented Adam Dirlam, NOG’s President. “Anchored by significant inventory, high oil cuts, strong margins and existing ownership in over 50% of the properties, this bolt-on transaction fits perfectly with our strategy.”

ADVISORS

Kirkland & Ellis LLP is serving as legal advisor to NOG.

Raymond James served as lead financial advisor to NOG.

ABOUT NORTHERN OIL AND GAS

NOG is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States. More information about NOG can be found at www.northernoil.com.

SAFE HARBOR

This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this release regarding NOG’s financial position, common stock dividends, business strategy, plans and objectives of management for future operations, industry conditions, capital expenditures, production, cash flow, hedging and other matters are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “guidance,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.

Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond NOG’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in crude oil and natural gas prices, the pace of drilling and completions activity on NOG's properties and properties pending acquisition, the effects of the COVID-19 pandemic and related economic slowdown, NOG's ability to acquire additional development opportunities, integration and benefits of property acquisitions, or the effects of such acquisitions on Northern’s cash position and levels of indebtedness, changes in NOG's reserves estimates or the value thereof, general economic or industry conditions, nationally and/or in the communities in which NOG conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, NOG's ability to consummate any pending acquisition transactions (including the transactions described herein), other risks and uncertainties related to the closing of pending acquisition transactions (including the transactions described herein), NOG's ability to raise or access capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting NOG's operations, products, services and prices.

NOG has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond NOG's control. NOG does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.

Mike Kelly, CFA
Chief Strategy Officer
(952) 476-9800
This email address is being protected from spambots. You need JavaScript enabled to view it.

MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced that on June 7, 2022, it entered into an amended and restated credit agreement governing its reserves-based revolving credit facility with Wells Fargo, as administrative agent, and a syndicate of 14 lenders. The borrowing base under the facility has been increased to $1.3 billion from $850.0 million. The facility maturity has been extended from November 2024 to June 2027. NOG has chosen to increase the elected commitment amount to $850.0 million from $750.0 million.

MANAGEMENT COMMENT

“I would like to thank our bank syndicate for their support and confidence in our business,” commented Chad Allen, NOG’s Chief Financial Officer. “Our substantial reserve base has supported a material step up in our borrowing base, elected commitment and importantly, an extension well into 2027.”

ABOUT NOG

NOG is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States. More information about Northern Oil and Gas, Inc. can be found at www.northernoil.com.

Mike Kelly, CFA
Chief Strategy Officer
(952) 476-9800
This email address is being protected from spambots. You need JavaScript enabled to view it.

ANAHEIM, Calif.--(BUSINESS WIRE)--Phoenix Motor Inc. (“Phoenix” or the “Company”) (NASDAQ: PEV), a California based company that designs, assembles, and integrates electric drive systems and light and medium duty electric vehicles (“EVs”), today announced the pricing of its initial public offering (the “Offering”) of 2,100,000 shares of common stock (the “Shares”) at a public offering price of $7.50 per Share, for total gross proceeds of $15,750,000 before deducting underwriting discounts and commissions and offering expenses. The Offering is being conducted on a firm commitment basis. The Shares have been approved for listing on The Nasdaq Capital Market and are expected to commence trading on June 8, 2022, under the ticker symbol “PEV.”

The Company has granted the underwriters an option, exercisable within 30 days from the closing of the Offering, to purchase up to an additional 315,000 Shares at the public offering price to cover over-allotment, if any, less underwriting discounts and commissions.

The offering is expected to close on June 10, 2022, subject to customary closing conditions.

Prime Number Capital LLC is acting as the sole book runner and representative of the underwriters. Revere Securities LLC and Westpark Capital, Inc. are acting as co-managers for the Offering. Loeb & Loeb LLP is acting as counsel to the Company, and Robinson & Cole LLP is acting as counsel to Prime Number Capital LLC.

The Company intends to use the net proceeds from this Offering primarily for investment in its technology, research and development efforts, manufacturing, marketing, maintaining and expanding its intellectual property portfolio and for working capital and other general corporate purposes.

A registration statement on Form S-1 (File No. 333- 261384) relating to the Offering has been filed with the Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on June 7, 2022. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the prospectus related to the offering may be obtained, when available, from Prime Number Capital LLC by email at This email address is being protected from spambots. You need JavaScript enabled to view it.. In addition, a copy of the final prospectus relating to the offering may be obtained via the SEC’s website at www.sec.gov.

Before you invest, you should read the final prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these 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 Phoenix Motor Inc.

Phoenix Motor Inc., a pioneer in the electric vehicles (“EVs”) industry, through its wholly owned subsidiaries, designs, assembles, and integrates electric drive systems and light and medium duty EVs and markets and sells electric vehicle chargers for the commercial and residential markets. Phoenix operates two primary brands, “Phoenix Motorcars” focused on commercial products including medium duty EVs, chargers and electric forklifts, and “EdisonFuture” which intends to offer light-duty EVs. As an EV pioneer, the Company delivered its first commercial EV in 2014 and deployed the very first zero emission airport shuttle bus at the Los Angeles International Airport (“LAX”), and the LAX fleet has grown to 39 electric shuttle buses, one of the largest of its kind. Los Angeles Air Force Base in El Segundo and NASA’s Jet Propulsion Laboratory in Pasadena, California are among the Company’s customers for the Company’s first generation E Series Zeus EVs. Phoenix intends to be a leading designer, developer and manufacturer of electric vehicles and electric vehicle technologies. For more information, please visit: www.phoenixmotorcars.com and www.edisonfuture.com.

Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company’s statements regarding trading on the NASDAQ Capital Market and closing of the Offering are forward-looking statements. No assurance can be given that the net proceeds of the Offering will be used as indicated. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s ability to convert concept trucks and vans into production and sales; the Company’s product development timeline and expected start of production; development of competitive trucks and vans manufactured and sold by the Company’s competitors and major industry vehicle companies; the Company’s ability to scale in a cost-effective manner; the Company’s future capital requirements and sources and uses of cash; the Company’s ability to obtain funding for its future operations; the Company’s financial and business performance; changes in the Company’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; the implementation, market acceptance and success of its business model; expectations regarding the Company’s ability to obtain and maintain intellectual property protection and not infringe on the rights of others; and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Underwriter

Prime Number Capital LLC
Ms. Xiaoyan Jiang, Chairwoman
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: 516-582-9666

AUSTIN, Texas--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.

The updated release reads:

PENNYBACKER CAPITAL MANAGEMENT EXPANDS ITS SUSTAINABILITY AND RESILIENCE STRATEGY WITH LONGEVITY PARTNERS

Pennybacker Capital Management, LLC (Pennybacker), a leading real asset private equity firm, has engaged Longevity Partners, a rapidly expanding full service ESG advisory business, to advance its sustainability strategy in the company’s operations and real asset portfolio. Pennybacker is committed to continually integrating measurable and impactful ESG practices into every element of the firm’s strategy, portfolio, and investment decisions.

In June 2021, Pennybacker and Longevity Partners commenced a detailed project that included a legislation study, peer reviews, identification of stakeholder engagement, the establishment of KPIs, and an execution roadmap. In partnership with Longevity Power, a subsidiary of Longevity Partners, the project also outlined actionable clean energy solutions.

“ESG is a continuation of Pennybacker’s mission of improving the lives of our teachers, tenants, and teams. Since our founding, we have been committed to maximizing the efficiency of our investment portfolio. This engagement is the next logical step for Pennybacker to track consumption and emission data, ultimately establishing short- and long-term reduction targets,” said Tim Berry, CEO of Pennybacker. “Putting in place measurable and actionable benchmarks across a diverse range of metrics is imperative to the well-being of our tenants, teacher, and team. The expertise of Longevity is pivotal to developing a best-in-class ESG strategy.”

“Pennybacker is a leader in the United States for the depths of its commitment to ESG,” said Etienne Cadestin, Global Founder and CEO of Longevity Partners. “It’s a pleasure to develop procedures, strategies and metrics for an ambitious firm with the potential to make a massive impact on its stakeholders and the environment.”

About Pennybacker Capital Management

Pennybacker Capital Management is a real assets private equity investment manager with offices in Austin, New York, Denver, and Charlotte. The firm pursues relative value, evergreen, and infrastructure strategies within a broad spectrum of real asset classes, across the entire capital structure. Pennybacker has a proven 16+ year track record, having invested in and/or operated more than $5.3 billion of real estate value throughout the United States. The firm has sponsored seven discretionary relative value real estate private equity funds, two real estate tactical credit funds, nine syndicated investments, and two co-investments. For more information, visit https://www.pennybackercap.com.

About Longevity Partners

Operating in over 40 countries for more than 100 institutional investors across all asset classes, Longevity Partners provides all services required to future-proof property investment portfolios. From carbon foot-printing to climate risk and ESG strategy development and implementation, our experts provide all the tools to respond to ESG performance requirements from pension funds to asset owners. Longevity works hand-in-hand with real estate owners to position their assets for the demands of tomorrow, while improving the well-being of users and net operating income today.

The company considers anticipated legislation and achievable benchmarks when improving client’s ESG performance. Asset managers must be aware of how they can optimize their assets’ resiliency to extreme weather events, better manage regulatory risks and improve the quality of their products over time to respond to client demand. For more information, please visit https://www.longevity-partners.com/.

Tierney Model Ehrhart
Co-Founder
August PR
M: 917.216.6520
IG:@Augustprny
This email address is being protected from spambots. You need JavaScript enabled to view it.

NUR-SULTAN, Kazakhstan--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX), through its subsidiary Chevron Munaigas Inc. (Chevron), and JSC NC “KazMunayGas” (KMG) have announced a memorandum of understanding (MoU) to explore potential lower carbon business opportunities in Kazakhstan.

Chevron and KMG plan to evaluate the potential for lower carbon projects in areas such as carbon capture, utilization, and storage (CCUS); hydrogen; energy efficiency and methane management; and carbon financial disclosure methodology.

The MoU was signed by Derek Magness, managing director for Chevron’s Eurasian Business Unit, and Magzum Mirzagaliyev, chairman of the Management Board of KMG, in Nur-Sultan on the eve of the 34th Plenary session of the Foreign Investors Council chaired by President of Kazakhstan Kassym-Jomart Tokayev and Chevron’s executive vice president of Upstream Jay Johnson.

“At the UN Climate Ambition Summit, President Kassym-Jomart Tokayev made a statement about Kazakhstan's intention to achieve carbon neutrality by 2060. KazMunayGas, in its turn, has set a goal to reduce its carbon footprint by 15 percent by 2031 compared to 2019 levels and is going to take further actions under the Paris Agreement and Kazakhstan’s Doctrine of Carbon Neutral Development. However, lower carbon is a new area for us, and we believe that Chevron’s wide experience in implementing lower carbon technologies and practices in the oil and gas industry will contribute to our capabilities and lead to joint lower carbon projects. We highly appreciate the partnership that has developed over the years of Chevron’s presence in our country,” Mirzagaliyev said.

“Chevron has been investing in Kazakhstan for close to three decades. We are proud of our history of partnership and are committed to investing in the country’s energy future. This MoU with KazMunayGas marks a new chapter in our company’s efforts to support the development of Kazakhstan’s energy sector,” Magness said. “We firmly believe that we can play an important role in the country’s energy transition and achievement of its carbon-reduction targets. Through our collaboration with KMG, we hope to contribute to providing affordable, reliable, ever-cleaner energy, and help the industries and customers who use our products to advance their lower carbon goals.”

“Chevron knows the future of energy is lower carbon and achieving the global net zero ambitions of the Paris Agreement will require partnership and collaboration,” said Jeff Gustavson, president of Chevron New Energies, which was launched in 2021 to focus on establishing lower carbon businesses in CCUS, hydrogen, renewable fuels, offsets, and other emerging areas. “We are excited about the opportunity to pursue these lower carbon opportunities with KazMunayGas and help advance the energy transition in Kazakhstan.”

The collaboration between Chevron and KMG is part of the efforts from both companies to support Kazakhstan’s target vision to achieve carbon neutrality by 2060.

About Chevron

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

About KazMunayGas

JSC National Company “KazMunayGas” is a leading vertically integrated oil and gas company in Kazakhstan. KMG manages assets throughout the entire production cycle, i.e. from exploration and production of hydrocarbons to transportation, refining and provision of maintenance services. Founded in 2002, the company represents the Republic of Kazakhstan’s interests in the national oil and gas industry.

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

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

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

Chevron
Sally Jones
This email address is being protected from spambots. You need JavaScript enabled to view it.
+44 5601091435

Creighton Welch
This email address is being protected from spambots. You need JavaScript enabled to view it.
281.703.2728

KazMunayGas
Dauren Omarov
This email address is being protected from spambots. You need JavaScript enabled to view it.
+7 7172 78 62 31
+7 717278 91 49

• Award funds Red Rock Biofuels Holdings, Inc. (“Red Rock”) to Convert Post-Fire Charred Waste Woody Biomass to Sustainable Aviation Fuel & Renewable Diesel

FORT COLLINS, Colo.--(BUSINESS WIRE)--Red Rock is pleased to announce that it has received a Wood Innovations Grant from the U.S. Forest Service to fund its project to convert post-fire charred waste woody biomass to sustainable aviation fuel & renewable diesel fuel.

“We founded Red Rock more than a decade ago to decarbonize transportation and help mitigate wildfire. Since that time, demand for sustainable aviation fuel (SAF) has grown exponentially and wildfires in the western U.S. and around the world have grown in frequency, size and intensity. We’re pleased to work with the U.S. Forest Service on this project to convert post-fire charred waste woody biomass present across the U.S. west into valuable SAF”, commented Red Rock’s Co-founder and CFO, Jeff Manternach.

“As numerous industries continue to seek new, effective ways to decarbonize their operations and demand for secure sources of low-carbon SAF accelerates, Red Rock’s work becomes even more critical. We expect results of this project with the U.S. Forest Service to support development efforts for our planned biorefineries in California, Oregon, Wisconsin and beyond,” said Red Rock’s Co-founder and CEO, Terry Kulesa.

Wildfires across the western U.S. have become a major problem over the past several decades, now consuming approximately 8.2 million acres per year on average, while federal suppression costs alone spiral into billions of dollars every year. Red Rock’s project with the U.S. Forest Service aims to utilize the increasingly abundant post-fire restoration material to produce low-carbon SAF and diesel fuel.

Red Rock’s portfolio of biorefineries under development are designed to tackle the most difficult industrial sectors to decarbonize, including aviation, heavy transport & shipping, cement manufacturing and steel manufacturing. Together with wildfire, these industries account for approximately one third of global greenhouse gas emissions. Thousands of new biorefineries need to be constructed to meet our collective net zero ambitions, and Red Rock is uniquely positioned to develop, construct and operate a portfolio of biorefineries to address these challenges.

For more information, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..

About Red Rock Biofuels Holdings, Inc.

Fort Collins, Colorado-based Red Rock Biofuels Holdings, Inc. was founded in 2011 to tackle the escalating problem of catastrophic wildfire in the Western U.S. and the rapidly growing need for renewable, low-carbon jet fuel (SAF) and cellulosic renewable diesel fuel (cellulosic RD). Red Rock is developing biorefineries to convert abundant waste woody biomass into SAF and cellulosic RD.

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

With the launch of their commercial demonstration facility in Sardinia, Italy, Energy Dome’s energy storage technology is ready for market

MILAN--(BUSINESS WIRE)--Energy Dome, a leading provider of utility-scale long-duration energy storage, today announced the successful launch of its first CO2 Battery facility in Sardinia, Italy. This milestone marks the final de-risking of the CO2 Battery technology as Energy Dome enters the commercial scaling phase, becoming the first commercial long-duration energy storage technology on the market offering a reliable alternative to fossil fuels for dispatchable baseload power globally.

The initial phase of operations has confirmed the performance of the CO2 Battery and its capability of storing energy for a long duration, all while maintaining highly competitive round-trip efficiency, without degradation or site dependency. The Sardinia demonstration project has proven this innovative process using off-the-shelf equipment available from a globally established supply chain, demonstrating that the rapid global deployment of the CO2 Battery is now possible with no bottlenecks.

“I am proud of our dedicated team and of our results. We can now provide an answer to the most pressing issue of our time: climate change,” said Energy Dome Founder and CEO Claudio Spadacini. “Our breakthrough technology, the CO2 Battery, is now commercially available to make cost-effective renewable energy dispatchable on a global scale.”

Energy Dome’s CO2 Batteries can be quickly deployed anywhere in the world at less than half the cost of similar-sized lithium-ion battery storage facilities, and use readily available materials, such as carbon dioxide, steel and water. Energy Dome is now preparing for its first full-scale 20MW-200MWh plant. Its first commercial project, Commercial Operation Date, is expected to be deployed by the end of 2023.

Energy Dome began its operations in February 2020 and has progressed from a concept to full testing at multi-megawatt scale in just over two years. To achieve this, Energy Dome has tapped a team of experts in turbomachinery, process engineering and energy, with a proven track record in ventures designing novel turbines and building over 500MW of energy projects. This successful launch is also in part due to the unique nature of Energy Dome’s process, which integrates known components in a novel industrial process based on a thermodynamic transformation of CO2.

The company has already secured multiple commercial agreements, including with an Italian utility A2A for the construction of a first 20MW-5h facility. Earlier this year, Energy Dome also signed a non-exclusive license agreement with Ansaldo Energia, a major provider of power generation plants and components, to build long-duration energy storage projects in Italy, Germany, the Middle East and Africa.

Energy Dome’s plan is backed by investors including European deeptech venture capital firm 360 Capital, Barclays, Novum Capital Partners and Third Derivative.

To fund the rapid commercial scale-up, Energy Dome plans to launch its Series B fundraising round for prospective investors interested in its groundbreaking energy storage technology.

About Energy Dome

Energy Dome is an energy storage solution provider that is unlocking renewable energy by making solar and wind power dispatchable using the CO2 Battery. Led by a team with a track record of innovation in the energy sector, Energy Dome’s low-cost energy storage technology helps accelerate the global transition to renewable energy by enabling greater penetration of renewables on the grid. In 2022, the company won the prestigious BloombergNEF Pioneers competition under the category “providing round-the-clock zero-emissions power." For more information, please visit www.energydome.com.

Cassandra Sweet
Antenna for Energy Dome
This email address is being protected from spambots. You need JavaScript enabled to view it.

CHICAGO--(BUSINESS WIRE)--#accelerator--A startup developing saliva-based diagnostics to screen for oral cancers and pre-cancers has won first place in the 26th Annual Edward L. Kaplan, ’71, New Venture Challenge (NVC), the signature venture competition for MBA students at the University of Chicago Booth School of Business.

More than $1.76 million in investment was awarded to the 11 finalist teams competing in NVC finals Thursday, the largest amount ever awarded in the history of the pioneering startup accelerator. The event was held in person for the first time since 2019.

"Our finalist teams were spectacular and spectacularly diverse — from a test to detect cancer, to tiles for spacecraft, to a market for hydrogen, to wine and healthy food," said Steven Kaplan, the Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business and Kessenich E.P. Faculty Director of the Polsky Center for Entrepreneurship and Innovation, where he cofounded the NVC. "The strength of our teams was such that they generated a record amount of investment, surpassing last year’s $1.73 million."

The Rattan L. Khosa First-Place Prize, totaling $665,000 in investment, was awarded to OrisDX, a venture that seeks to help alleviate the burden of cancer morbidity globally through greater access to non-invasive diagnostics and screening resulting in early detection of head and neck cancers. OrisDX, which is also a finalist in the George Shultz Innovation Fund and was a participant in the Polsky Center's I-Corps program, is poised to launch a novel saliva-based molecular diagnostics test to detect pre-cancers and cancers of the oral cavity, based on science developed through a decade of foundational research by top physicians and scientists at the University of Chicago and Johns Hopkins University, including UChicago’s Medicine’s Nishant Agrawal.

"Our winning team exemplifies the growing collaborative powers of combining our Booth students with UChicago's world-class researchers," said Mark Tebbe, an adjunct professor of entrepreneurship at Booth and an instructor of the NVC. "The innovativeness of this solution combined with its ability to potentially change medical procedures made it a clear winner in our very competitive NVC."

"We are so excited about today's result, but even more excited about what this means to our future patients," said Jake Stangl, chief business officer at OrisDX and a current MBA student at Booth. "Our non-invasive diagnostic will make sure patients get the care they need early enough to ensure they live long and healthy lives. It's been an honor competing against the other extremely talented teams, and being coached by some of the world's greatest business leaders at the Polsky Center."

The $25,000 Moonshot Prize, awarded to a team whose unique technologies are catalyzing innovative solutions to global challenges, was split between the second- and third-place winners: BlackCurrant, a hydrogen trading marketplace helping transportation companies access sustainable fuels, and Canopy Aerospace, which is developing manufacturing processes for commercial thermal protection systems for the emerging space and hypersonic industries.

The $5,000 People's Choice award, a cash prize voted on by the audience, went to Earthi, a grab-and-go fast-casual concept focused making healthy and delicious plant-based meals for flexitarians trying to reduce their meat consumption.

See here for the full list of the 2022 NVC winners and investment totals.

The NVC was a pioneer of business school venture competitions when it held its first finals in 1997 with a $20,000 investment pool. It now has five tracks serving distinct UChicago audiences — including alumni, undergraduates, executive MBA students, and social impact entrepreneurs — and has graduated more than 370 startup companies still in operation today, including nationally known brands such as Grubhub, Braintree/Venmo, Simple Mills, Tovala, and Foxtrot. NVC alumni have gone on to raise more than $1 billion in funding and achieve more than $8.5 billion in exits.

The competitive program spans the academic year, starting in the fall when students form teams and then apply to be in the program. Of 62 applications received this year, 30 teams were selected to participate in the credit-bearing spring quarter course, where they took classes in entrepreneurship and received coaching to refine their pitches before finalists were selected to advance to the investment competition.

The finalist teams on Thursday presented their business plans to a judging panel made up of 22 investors, entrepreneurs, and industry leaders, many of them Booth alumni, who deliberated behind closed doors before announcing the record investment pool. All 11 finalists received investment.

About the Polsky Center for Entrepreneurship and Innovation at the University of Chicago

The Polsky Center for Entrepreneurship and Innovation applies world-class business expertise from the University of Chicago Booth School of Business to bring new ideas and breakthrough innovations to market. With a 60-person professional staff, the Polsky Center drives the creation of new ventures and commercial partnerships at the University of Chicago and beyond. As a global leader in entrepreneurship education, the Polsky Center is home of the Edward L. Kaplan, '71, New Venture Challenge, one of the top accelerator programs in the nation. The Polsky Center provides training for aspiring entrepreneurs and those seeking a career in private equity, venture capital, and entrepreneurship through acquisition. Learn more at polsky.uchicago.edu and follow updates on Twitter @polskycenter.

Media contact: Alexia Elejalde-Ruiz, This email address is being protected from spambots. You need JavaScript enabled to view it.

PARIS--(BUSINESS WIRE)--Regulatory News:

Technip Energies (PARIS: TE) has been awarded a Bankable Feasibility Study (BFS) contract by Viridian Lithium for the construction of the first lithium refining and conversion plant in Europe.

Located in Lauterbourg, France, the plant will produce up to 100,000 tons of Battery Grade lithium chemicals per year – which is the equivalent capacity to power 2 million electric vehicles – to enable a secure and sustainable battery supply chain for the transition to electric mobility.

The contract consists in a Bankable Feasibility Study (BFS), and a preferential right on the construction of the plant and its three foreseen extensions.

Laure Mandrou, Senior Vice President Carbon-Free Solutions of Technip Energies, commented: “We are very excited to start this new journey with Viridian Lithium. It is the beginning of an industrial partnership that is fully in line with Technip Energies' strategy of engineering a sustainable future. We are committed to support Viridian Lithium in the creation of the first French and European Lithium stream.”

Remy Welschinger, Co-Founder & President of Viridian Lithium, said: “We are very pleased to partner with Technip Energies to develop a clean and reliable supply chain for batteries to empower the transition to electric mobility.”

Purified lithium chemicals are non-substitutable materials for lithium-ion batteries and are strategic materials for the European automotive industry. The Project will increase the supply chain autonomy of our electric vehicle industry. Lithium is one of the four key metals of the energy transition.

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO₂ management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States. For further information: www.technipenergies.com.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.

All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

Technip Energies
Investor relations
Phil Lindsay
Vice-President Investor Relations
Tel: +44 20 7585 5051
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media relations
Stella Fumey
Director Press Relations & Digital Communications
Tel: +33 (1) 85 67 40 95
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Jason Hyonne
Press Relations & Social Media Lead
Tel: +33 1 47 78 22 89
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Viridian Lithium
www.viridianlithium.com
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Highlights:

• Provides a scalable, passive 360-degree EO/IR solution for U.S. Navy fleet protection
• Automatic detection, tracking enhances combat systems and navigation capabilities
• Reinforces L3Harris as a “Trusted Disruptor” for agile modular open systems architecture

MELBOURNE, Fla.--(BUSINESS WIRE)--A team led by L3Harris Technologies (NYSE:LHX) has been selected to provide the Shipboard Panoramic Electro-Optic/Infrared (SPEIR) system to the U.S. Navy that will provide improved fleet protection. The initial $205 million contract has a potential value of $593 million if all options are exercised through March 2031.

The SPEIR program represents a generational leap forward in the use of 360-degree electro-optic and infrared (EO/IR) imagery and situational awareness, elevating EO/IR sensors - the eyes of the fleet - from a dedicated weapons support sensor to a full passive mission solution capability.

L3Harris will serve as systems integrator and prime contractor, delivering capabilities for mission areas including anti-ship cruise missile defense, counter-unmanned aerial systems, counter-fast attack craft/fast in-shore attack craft, mobility, anti-terrorism/force protection and operational tasking visual information. This new system is targeted for installation on destroyers, carriers, frigates, amphibious and landing helicopter assault ships to provide a critical warfighting capability.

The team includes Lockheed Martin and BAE Systems and will provide an L3Harris solution known as SPATIAL that provides a scalable 360-degree EO/IR passive automatic detection and tracking solution, enhancing combat systems and navigation capabilities to the U.S. Navy.

The program was awarded by the Program Executive Office Integrated Warfare Systems (PEO IWS) 2.0.

“The SPEIR program leverages the technologies demonstrated as part of the Office of Naval Research’s Future Naval Capability effort known as CESARS (Combined EO/IR Surveillance and Response System) and a strong heritage of maritime Electro-Optical Sensor Systems combined with L3Harris internal investment to provide a SPEIR capability to the fleet faster, with less risk and cost than other solutions,” said Sean Stackley, President, Integrated Mission Systems, L3Harris. “Passive persistent surveillance capability is a significant step forward in protecting the surface fleet, safe navigation and force protection by enabling operations in an emissions-controlled environment.”

BAE Systems employs image processing development from CESARS that provides a fully automated image processing detection capability that reduces operator workload.

“BAE Systems is leveraging our expertise in machine learning and automation capabilities to maritime defense systems,” said Frank Crispino, Director of Active Protection Solutions for BAE Systems.

Lockheed Martin brings combat system interface experience to ease integration into existing ship systems.

“The SPEIR program builds on Lockheed Martin’s legacy of proven integrated combat system and electro-optical sensor solutions for PEO IWS,” said Rick Cordaro, Vice President, Lockheed Martin Advanced Product Solutions.

About L3Harris Technologies

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. L3Harris has more than $17 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. L3Harris.com.

Forward-Looking Statements

This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the value or expected value of orders, contracts or programs or about system or technology capabilities are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Marcella Thompson
Integrated Mission Systems
This email address is being protected from spambots. You need JavaScript enabled to view it.
214-430-8872

Jim Burke
Corporate
This email address is being protected from spambots. You need JavaScript enabled to view it.
321-727-9131

HOUSTON--(BUSINESS WIRE)--Titan Division of Hunting Energy Services, a subsidiary of Hunting PLC, the international energy services company, today introduced a new line of circulating shaped charges designed to improve cement placement during well plug and abandon (P&A) operations.

Building on the perforating technology of the company’s first generation of KnockOut circulation (puncher) shaped charges, the KnockOut 360° circulating shaped charge eliminates the earlier version’s requirement for a zero phased gun configuration which could limit the area open to flow and coverage required for a reliable cement plug.

The KnockOut 360° system can be run in a phased gun configuration to perforate 360 degrees of the inner tubing, leaving the outer casing with minimal controlled damage regardless of primary to secondary casing orientation. This makes it the ideal circulating shaped charge line for P&A applications.

KnockOut 360° perforating system also provides consistent entry holes in the inner tubing to maximize open flow area, and perfect cement distribution for plugging the well. The system is currently available in 2-in. and 5 1/8-in. O.D.’s. A 7-in. version is in development for release later this year.

Hunting’s perforating technology is accessible through Hunting’s network of distribution centers strategically located in all the world’s oil-producing regions.

About Hunting

Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium-listed public company traded on the London Stock Exchange. The company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the company has operations in Canada, China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.

The company’s Hunting Energy Services Titan Division engineers and manufactures perforating systems, wireline selective firing systems, cased hole logging instruments, nuclear detectors, energetics, and associated wireline hardware and accessories.

Business Contact:
John Feuerstein, Hunting, 281-442-7382, This email address is being protected from spambots. You need JavaScript enabled to view it.