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DUBLIN--(BUSINESS WIRE)--The "Biodiesel Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.


The market for biodiesel is expected to grow at a CAGR of more than 7.98% during the forecast period of 2022-2027.

Companies Mentioned

  • Renewable Energy Group, Inc
  • Archer Daniels Midland Company
  • Bangchak Corporation Public Company Limited
  • Wilmar International Ltd
  • Neste Oyj
  • Cargill Inc
  • BIOX Corporation
  • Ag Processing, Inc.

Key Market Trends

Transportation Segment Expected to Dominate the Market

  • Biodiesel is a renewable, clean-burning diesel replacement used in existing diesel engines without modification. It is made from an increasingly diverse mix of recycled cooking oil, agricultural feedstock, and animal fats.
  • The United States is a significant consumer of biodiesel. Some local, state, and federal government agencies with fleets of school and transit buses, snowplows, garbage trucks, mail trucks, and military vehicles use biodiesel blends, usually B20. Fuelling stations that sell biodiesel blends of B20 or higher to the public are available in almost every state.
  • In Q1 2021, Germany had exported around 933,117 tonnes of biodiesel. The primary consumers of German biodiesel were European Union countries (88%), headed by the Netherlands, Poland, and Belgium.
  • Moreover, in May 2021, the German government had introduced new biofuel law. As per the new law, obligated oil companies will have to significantly increase the use of biodiesel, bioethanol, and biomethane in the transportation sector to reduce carbon emissions.
  • As of 2020, global biodiesel consumption has reached almost 682 thousand barrels of oil equivalent per day, which is comparatively higher than 464 thousand barrels of oil equivalent per day as of 2015.
  • Due to the fluctuating prices of petroleum-based products, biodiesel is becoming an increasingly affordable option. The share of biodiesel in transportation fuel is expected to increase considerably.

Asia-Pacific to Witness Significant Growth

  • Asia-Pacific is the second-largest consumer of biodiesel across the globe. In 2020, the region consumed 170 thousand barrels of oil equivalent per day. Countries like China, Indonesia, India, Vietnam are promoting the use of bio-diesel to reduce GHG emissions.
  • Indonesia became the first nation to mandate a B30 blend of palm-based fuel. The government allocated 9.59 million kiloliters of Fatty Acid Methyl Ester (FAME) for the B30 mandate in 2020, up from 6.63 million KL in 2019.
  • In the year 2020, the Indonesian government allocated USD 195 million from the state budget to subsidize producers of palm oil biodiesel to boost the economy out of a pandemic-induced slump.
  • On the other hand, in Malaysia, the mandate to manufacture biofuel with a 20% palm oil component - known as B20 witnessed a delay. The mandate is expected to be implemented across the country by the end of 2022.
  • With three new biodiesel plants installed in India in 2019, the total number of plants increased to 26 as of 2021. The additional plants have increased the capacity significantly, and with upcoming projects in line, the production is likely to increase further in India.
  • Moreover, in December 2021, LRE Petroleum received the letter of intent (LOI) from Indian Oil to set up a biodiesel manufacturing plant in India. The plant is located in Karnataka and is capable of producing 4 million liters of biodiesel (B-100) every year.
  • Hence with the increasing blend percentage in countries like Malaysia, Thailand, and India, the Asia-Pacific region is expected to witness the highest growth rate in the forecast period.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Market Size and Demand Forecast in USD billion, till 2027

4.3 Recent Trends and Developments

4.4 Government Policies and Regulations

4.5 Market Dynamics

4.5.1 Drivers

4.5.2 Restraints

4.6 Supply Chain Analysis

4.7 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 Feedstock

5.1.1 Vegetable Oil

5.1.2 Animal Fat

5.1.3 Others

5.2 Application

5.2.1 Transportation

5.2.2 Power Generation

5.2.3 Others

5.3 Geography

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Strategies Adopted by Leading Players

6.3 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/t29fgr


Contacts

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TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX: SPB) is pleased to announce the successful closing of its previously announced bought deal equity offering of 25,670,300 common shares (“Shares”) at a price of $11.20 per Share (the “Offering Price”), for aggregate gross proceeds of approximately $288 million (the “Offering”). The Offering included 3,348,300 Shares issued pursuant to the exercise in full by the underwriters of their over-allotment option.


The Offering was sold on a bought deal basis to a syndicate of underwriters bookrun by CIBC Capital Markets, and including National Bank Financial Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Desjardins Securities Inc., Canaccord Genuity Corp., Raymond James Ltd., ATB Capital Markets Inc., Cormark Securities Inc. and iA Private Wealth Inc. Brookfield, one of Superior’s largest investors, participated as an anchor investor in the Offering and purchased approximately $75 million in Shares at the Offering Price through its Special Investments program.

The Offering was made under Superior’s short form base shelf prospectus dated May 25, 2021. The terms of the Offering are described in a prospectus supplement dated March 30, 2022, which was filed with securities regulators in each of the provinces and territories of Canada.

Superior intends to use the net proceeds of the Offering to reduce existing indebtedness and for general corporate purposes, including to fund future acquisitions.

This press release is not an offer of the securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act of 1933, as amended and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About the Corporation

Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 890,000 customer locations in the U.S. and Canada.

For further information about Superior, please visit our website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Capital Markets, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).

Forward Looking Information

This news release contains certain forward-looking information and statements that are based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “approximately,” “anticipated,” “will,” “intends,” and similar expressions. In particular, this news release contains forward-looking statements with respect to the use of the net proceeds of the Offering.

Forward-looking information is not a guarantee of future performance. By its very nature, forward-looking information involves inherent assumptions, risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking information will not be achieved, including risks relating to the operating and financial performance of the Energy Distribution business which are described in Superior’s management’s discussion and analysis for the year ended December 31, 2021 and in Superior’s annual information form for the fiscal year ended December 31, 2021. Key assumptions or risk factors to the forward-looking information include, but are not limited to, the rate and size of future acquisitions, financial market conditions, Superior’s future debt levels, Superior’s ability to generate sufficient cash flows from operations to meet its current and future obligations, access to, and terms of, future sources of funding for Superior’s capital expenditures and acquisitions, the integration of businesses into Superior’s operations, competitive action by other companies, availability and timing of acquisition targets, actions by governmental authorities including increases in taxes and changes in environmental and other regulations, general economic, market and business conditions, accuracy of and ability to realize estimated synergies, timing to achieve synergies and the regulatory framework that governs the operations of Superior’s business and industry capacity. Should one or more of these risks and uncertainties materialize, or should assumptions described above prove incorrect, Superior’s actual performance and results in future periods may differ materially from any projections of future performance or results expressed or implied by such forward-looking information. We caution readers not to place undue reliance on this information as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking information.

Forward-looking information contained in this news release is provided for the purpose of providing information about management’s goals, plans and range of expectations for the future and may not be appropriate for other purposes. Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES


Contacts

Beth Summers
Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015

Rob Dorran
Vice President, Capital Markets
Tel: (416) 340-6003
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Toll Free: 1-866-490-PLUS (7587)

Five building and e-mobility companies will receive non-dilutive funding to demonstrate their technologies with commercial partners

DENVER--(BUSINESS WIRE)--Today the Wells Fargo Innovation Incubator (IN2), a technology incubator and platform funded by the Wells Fargo Foundation and co-administered by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), announced the program’s first cohort focused on demonstration projects. The tenth IN2 cohort consists of five companies ready to demonstrate building and mobility technologies with industry partners across the country, proving out their economic viability, low carbon capabilities, and positive social impacts.



“Once startups have spent the time to get over the first valley of death developing, testing and validating their technology, they are quickly faced with the next valley – getting that first customer to raise their hand and take a chance on something new,” said Trish Cozart, IN2 program manager at NREL. “The demonstration cohort brings together impactful clean technologies, real world partners, and third-party NREL experts to walk alongside both parties to help catalyze the success of the project as they prove out the tech for scale.”

The selected companies will receive up to $250,000 in non-dilutive funding to support infrastructure for the project as well as technical guidance from the world-class researchers at NREL, who will help prepare, validate, or analyze the demonstration projects. They will also benefit from a robust IN2 cleantech ecosystem that includes industry experts, investors, and a nationwide Channel Partner network of more than 60 cleantech incubators, accelerators, and university programs.

“Accelerating clean-technology innovation and commercialization is essential to align the economy with the goals of the Paris Agreement,” said Robyn Luhning, Chief Sustainability Officer at Wells Fargo. “By pairing promising clean technologies with companies and community organizations, startups can demonstrate their value to a potential customer and the industry. Validating these potentially game-changing, low-carbon solutions can accelerate their entry to the marketplace and speed the decarbonization of the global economy.”

Originally nominated by program Channel Partners, the selected companies underwent an in-depth selection process by Wells Fargo, NREL and IN2’s expert industry advisory board. The selected companies and their respective commercial partners will collaborate on the following demonstration projects:

  • BlocPower, based in Brooklyn, NY, will work with Steffes to replace fossil fuel-based systems with carbon-free technologies and increase energy efficiency for buildings in diverse communities.
  • CorePower Magnetics, based in Pittsburgh, PA, will demonstrate its patented high-performance electric motors, inductors, and transformers with Eaton, which can extend electric vehicle ranges and improve grid efficiency.
  • Kit Switch, based in San Francisco, CA, will work with Habitat for Humanity, LA to install and analyze its prefabricated wall and ceiling panels with integrated plumbing and electrical systems in underutilized housing units.
  • NineDot Energy, based in Brooklyn, NY, will work with Fermata Energy and Revel Transit, Inc. to transform vacant and underutilized lots into shared community-scale power plants using solid oxide fuel cells and stationary battery energy storage.
  • Community Energy Labs, based in Portland, OR, will demonstrate its AI Powered Clean Building Control platform for Tacoma Public Utilities and Tenino School District in an effort to support and assess decarbonization goals.

With the addition of these five companies, IN2’s total portfolio now includes 61 startups. Since joining the IN2 program, portfolio companies have raised $1.1 billion in external follow-on funding—equivalent to an average of more than $81 for every $1 awarded by Wells Fargo through IN2.

About the Wells Fargo Innovation Incubator (IN2)
The Wells Fargo Innovation Incubator (IN2) is a $50 million technology incubator and platform funded by the Wells Fargo Foundation. Co-administered by and housed at the National Renewable Energy Laboratory (NREL) in Golden, Colorado, IN2’s mission is to speed the path to market for early-stage, clean-technology entrepreneurs. Launched in 2014 with an initial focus on supporting scalable solutions to reduce the energy impact of commercial buildings, IN2 has since expanded its focus to advance technologies that address the sustainable production of agriculture and housing affordability. For more information, visit in2ecosystem.com.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.


Contacts

Media
Wells Fargo Media
E.J. Bernacki, 415-823-3523
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IN² Media
Carlos Villacis
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Capture hard to reach data and make it easy to aggregate, automate and analyze


AUSTIN, Texas--(BUSINESS WIRE)--Today HUVRdata, Inc. (HUVR) welcomes Luftronix, a New Jersey based industrial inspection company with an autonomous high-precision scanning solution using drones, to the HUVR Partner Network (HPN).

“We make it easy to manage complex inspection data—just like Luftronix makes it easy to conduct inspections in complex environments,” said Ben Schmul, VP product management at HUVR. “Both of our companies are in the business of transforming how industrial asset owners ensure reliability, compliance and operational excellence, so a partnership made perfect sense.”

The partnership between HUVR and Luftronix makes drone inspections even safer, faster and easier than they already were. With Luftronix’s precision navigation technology, drones can be flown in extremely tight, confined spaces at the push of a button, and high fidelity, repeatable data can be collected. Then, by seamlessly integrating the Luftronix-collected data into the HUVR IDMS platform, reports, findings and repair projects are automatically created. This seamless flow from data capture to remediation will increase the reliability and efficiency of any asset being inspected.

Drones are rapidly becoming the preferred inspection tool compared to scaffolding, rope access, and confined space entry. In fact, drones are estimated to have saved $1.1 billion in inspection costs to offshore rigs and oil refineries. As more and more companies leverage drone technology, savings—both tangible and intangible—will continue to increase. In fact, a new Barclays report estimates that over the next 5 years drones will save the oil and gas industry $50 billion. This massive growth also brings increasing complexity with both flight and data management as new assets are inspected in new ways. Fortunately, both HUVR and Luftronix have seen their customers thrive by adopting specialized drones and software to meet the ever-increasing complexities.

For the foreseeable future, it is unlikely that any piece of technology will complete 100% of an asset inspection. But new robotic inspection tools will collect data at higher fidelity than previous generations and will offer better comparative results over time given the standardization they bring. However, the data collection tools only solve a part of the challenge—it’s what to do with all the new types of data, often existing in new formats and located in new silos. To aggregate, automate and analyze the data from inspection tools—as well as from existing checklist information—companies require an inspection data management software (IDMS) platform which must either be created out of whole cloth or integrated into current systems, using valuable time and IT resources.

As a result, the availability of a holistic, easy-to-use, purpose-built platform that rolls out seamlessly, efficiently and quickly is game-changing for asset owners. They require an IDMS platform that both supports new tools and enables the integration of a variety of apps to carry out the AI-supported evaluation of the collected data.

“We are offering a solution that will inspect 100% of an asset with the push of a button, delivering localized and repeatable visual data,” said Klaus Sonnenleiter, CEO of Luftronix. “But we needed a software platform to house and analyze the data so that our customers can easily and consistently act on the findings. The HUVR IDMS platform is exactly what we were looking for.”

Since 2016, HUVRdata has transformed the way industrial equipment owners and inspection companies manage and perform inspections, enabling immediate ROI and improved production KPIs. By partnering with HUVRdata—whose platform can merge data from any source—Luftronix can inject data and insights into a customer’s HUVR system, allowing clients to more efficiently plan, manage, collect data and generate findings from drone inspections.

About Luftronix

Safe and reliable drone operations with Luftronix Fused Flow™ precision navigation technology. Luftronix inspection stations conduct autonomous visual inspections while allowing any object (aircraft; drilling rig; inside/outside of storage tank, pressure vessel, and chimney; pipe racks; and other tight and confined spaces) to be measured on-screen. Automating the inspections with Luftronix technology reduces workplace hazards and the cost of inspections - while increasing the accuracy and auditability of the results. UAVs with Luftronix enabled software can fly in GPS-denied and spoofed environments. Find more information at https://luftronix.com/

About HUVRdata

HUVRdata is the first purpose-built Inspection Data Management Software Platform. Created in the cloud, the mobile-connected HUVR Platform enables the aggregation, analysis, and automation of visual and quantitative inspection data from any device, sensor, robot, or field technician. The largest energy producers and the most specialized inspection service providers have realized immediate ROI using HUVR to plan inspections, manage work, ingest data, assess findings and generate analytical reports – from any workflow. Industrial asset owners finally have a simple and easy way to visualize infrastructure health, ensuring compliance, reliability, and operational excellence. For more information visit https://www.huvrdata.com/


Contacts

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CMO
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National Homebuilder Partners with Ford to Create the “Home of the Future” on Innovation Way

ATLANTA--(BUSINESS WIRE)--PulteGroup, one of the nation’s largest homebuilders, has built a living laboratory to explore how homeowners will live in the not-so-distant future. Located on “Innovation Way” within Babcock Ranch, America’s first and largest solar-powered town near Fort Myers, Florida, PulteGroup has unveiled two model homes that, while not yet for sale, are testing the latest, and in some cases, not yet commercially available, advancements in sustainable new home technologies and innovations. With More Life Built In®, these Pulte Homes models include integration with the new, all-electric Ford® F-150 Lightning™ vehicle to create backup power and energy management solutions.



Among our core values is foresight for the future, where we are thinking, planning and testing for how people will interact and live within their homes,” said Ryan Marshall, President and Chief Executive Officer of PulteGroup. “At Innovation Way, we are making the future right at home with cutting-edge technology and homebuilding strategies that represent a new era of smart, comfortable, healthy and sustainable living. Over time, the performance of these homes will provide valuable insight into how we innovate our homes and delight buyers well into the future.”

Built Ford Tough on the Road and at Home
At its homes on Innovation Way, PulteGroup is collaborating with Ford and Sunrun to test how the Ford Intelligent Backup Power system of the F-150 Lightning can serve as a critical lifeline to homeowners during power outages. Both the Home Integration System and the Charge Station Pro are built right into the Pulte home. Once plugged in, a fully charged F-150 Lightning can provide the home with power for up to three days during an outage, or as long as 10 days when used in conjunction with rationing or solar power*. The truck can also optimize the home’s energy usage when bidirectional power is combined with other lower-carbon energy sources to help manage energy costs and consumption.

Ford is committed to leading the electric vehicle revolution with new features that can make people’s lives better and more rewarding. We will continue to work with innovative companies like PulteGroup to demonstrate how the future may look…today,” said Matt Stover, Ford Global Director of Charging and Energy Services. “The ability to showcase, test and learn from the energy storage capabilities of F-150 Lighting in a real-life home setting provides us with valuable knowledge for how electric vehicles can help drive performance, capability and productivity at home, as well as on the road.”

Responsive Home Innovations
Found within the 2,400+ and 3,600+ square-foot, single- and two-story Pulte homes are innovative products and technologies designed to make the future healthier, more productive, comfortable, safer, and responsive to the world around us at home. While just a sampling, included in the test model homes are:

  • Wi-Fi enabled lighting, load centers, thermostats, and kitchen appliances that make it easy for homeowners to control their homes from their phone or sound of their voice
  • Moen® Flo Smart Water Security System to monitor and prevent leaks with whole home eco-friendly water filtration
  • Smart Kitchen faucets and bathroom shower controls that are voice controlled and hands-free
  • Broan® Ventilation System providing fresh air circulation that protects against bacteria, mold, and fungi growth with a series of wall plugs and sensors that identify pollutants and automatically engages ventilation
  • JennAir® and KitchenAid® smart kitchen appliances that connect to WiFi for personalized options and real-time notifications
  • Super Energy Efficient Lennox HVAC System with PureAir System for indoor air quality enhancement
  • Rinnai® recirculating tankless water heater with Smart-Circ™ that provides faster hot water
  • Rheia HVAC delivery system to improve overall A/C and eliminate bulk duct systems
  • High Efficiency Low E impact windows and spray foam ceiling insulation to improve performance and comfort
  • Smart Electrical Panel with Remote On/Off Capability that monitors energy usage by circuit
  • Foam Block with Six-Inch Poured Solid Concrete Exterior Wall System and R-22 performance
  • Back up battery system provided by Florida Power & Light (FPL) to increase energy resiliency and monitor usage
  • Artificial turf in backyards that require little to no maintenance and are environmentally friendly
  • Permeable drive and walkway pavers that allow water to percolate back into the ground instead of via storm water system

Over the next two years, Florida Power & Light (FPL) will collect, analyze and compare the homes’ energy consumption data, with the goal of identifying the most relevant and impactful innovations in sustainability for the homebuyers of tomorrow. Through this data collection and analysis, PulteGroup will receive actionable insights into which specific features and combinations are viable on a larger scale.

Through the design, construction and unveiling of these trailblazing homes, we have been fortunate to collaborate with partners that share our commitment to innovation and quality,” said Richard McCormick, Florida Area President of PulteGroup. “In addition to Ford, FPL and Babcock Ranch developer Kitson & Partners, we are grateful to our collaborators at Moen, Whirlpool, Lennox, Sonos, Broan, Sunrun, Rheia and all of our many supplier partners for embarking on this exciting journey with us.”

To learn more about PulteGroup’s model homes of the future showcased on Innovation Way, please visit the press page at: https://newsroom.pultegroup.com/presskits/pulte-homes-innovation-way.htm.

For more information about Pulte’s currently selling communities at Babcock Ranch, please visit: www.pulte.com/homes/florida/fort-myers/babcock-ranch.

* When the home is properly equipped, and home transfer switch disconnects home from the grid. Based on 30 kWh use per day using the F-150 Lightning with the extended-range battery. Your results may vary depending on energy usage. Rationing power assumes limiting the number of devices and turning the truck off when not needed.

About PulteGroup
PulteGroup, Inc. (NYSE: PHM), based in Atlanta, Georgia, is one of America’s largest homebuilding companies with operations in more than 40 markets throughout the country. Through its brand portfolio that includes Centex, Pulte Homes, Del Webb, DiVosta Homes, American West and John Wieland Homes and Neighborhoods, the company is one of the industry’s most versatile homebuilders able to meet the needs of multiple buyer groups and respond to changing consumer demand. PulteGroup’s purpose is building incredible places where people can live their dreams.

For more information about PulteGroup, Inc., and PulteGroup brands, go to pultegroup.com; pulte.com; centex.com; delwebb.com; divosta.com; jwhomes.com; and americanwesthomes.com. Follow PulteGroup, Inc. on Twitter: @PulteGroupNews.


Contacts

For Media Inquiries
Macey Kessler
office: 404.978.6414
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Dangerous Goods Shipping Solution Provider Recognized for Outstanding Support of GM’s Purchasing and Supply Chain Organization

CHICAGO--(BUSINESS WIRE)--#DangerousGoods--Labelmaster, the leading provider of labels, packaging and technology for the safe and compliant transport of dangerous goods (DG) and hazardous materials (hazmat), today announced that it has been recognized by General Motors (GM) as an Overdrive Award winner as part of GM's 30th annual Supplier of the Year awards. Labelmaster was one of only 31 companies to earn an Overdrive Award for 2021.


First presented in 2012, the Overdrive Award is a distinction reserved for suppliers who display outstanding achievement across the Global Purchasing and Supply Chain organization’s key priorities. These include sustainability, innovation, relationships, total enterprise cost, launch excellence and safety.

“We are honored to be recognized for our efforts to support General Motors’ global supply chain,” said Alan Schoen, president, Labelmaster. “Labelmaster is committed to providing the automotive industry with deep, global regulatory expertise, technology solutions and end-to-end management services for safely and compliantly transporting large format batteries and other dangerous goods.”

“This year’s Supplier of the Year event was special not only because it’s the 30th anniversary of the program, but because it provided us with the opportunity to recognize our suppliers for persevering through one of the most challenging years the industry has ever faced,” said Shilpan Amin, GM vice president, Global Purchasing and Supply Chain. “These top suppliers showed resilience and reinforced their commitment to pursuing sustainability and innovation. Through our strong relationships and collaboration, GM and our suppliers are poised to build a brighter future for generations to come.”

A global cross functional team selected the 2021 Supplier of the Year and Overdrive Award winners based on performance criteria in Product Purchasing, Global Purchasing and Manufacturing Services, Customer Care and Aftersales and Logistics.

About Labelmaster

For more than five decades, Labelmaster has been the go-to source for companies – big and small – to navigate and comply with the complex, ever-changing regulations that govern the transport of dangerous goods and hazardous materials. From hazmat labels and UN-certified packaging, hazmat placards and regulatory publications, to advanced technology and regulatory training, Labelmaster’s comprehensive offering of industry-leading software, products, and services helps customers remain compliant with all dangerous goods regulations, mitigate risk and maintain smooth, safe operations. Labelmaster's dedication to supporting its customers' operational and compliance needs is enhanced through its unmatched industry expertise and consulting services, which serve as a valuable resource for customers to answer difficult and commonplace regulatory questions. Whether you're shipping hazardous materials by land, air, or sea, Labelmaster is your partner in keeping your business ahead of regulations and compliant every step of the way. To learn more, visit www.labelmaster.com.

About General Motors

General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.


Contacts

Stephen Dye
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HOUSTON--(BUSINESS WIRE)--NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT) announced today the execution of a 20-year sale and purchase agreement (“SPA”) with ENN LNG (Singapore) Pte Ltd (“ENN LNG”), a wholly-owned subsidiary of ENN Natural Gas Co., Ltd. (“ENN”) for the supply of liquefied natural gas (“LNG”) from NextDecade’s Rio Grande LNG export project (“RGLNG”) in Brownsville, Texas.


Under the SPA, ENN LNG will purchase 1.5 million metric tonnes per annum (MTPA) of LNG indexed to Henry Hub on a free-on-board basis. The LNG supply will be from the first two trains at RGLNG with the first train expected to start commercial operations as early as 2026.

“We are pleased to announce this long-term LNG SPA with ENN, a premier Chinese energy company. As one of China’s largest private companies, ENN is a major participant in China’s energy market, and we look forward to a successful, long-term relationship with ENN,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “This SPA underscores the strength of NextDecade’s differentiated offering. The commercial momentum at RGLNG is accelerating and we believe the company is well placed to benefit from the strengthening LNG market.”

Zheng Hongtao, President of ENN Natural Gas Co., Ltd said, “This agreement secures additional volume for our LNG portfolio and helps ensure we can meet the growing demand for secure, flexible, and cleaner energy for our customers in the future. The signing of this SPA reflects ENN’s goal of promoting the global energy transition and is of significance given RGLNG’s low GHG emissions profile relative to other LNG supply sources. We look forward to working with NextDecade in the years to come.”

Assuming the achievement of further LNG contracting and financing, NextDecade anticipates making a positive final investment decision (“FID”) on a minimum of two trains of the Rio Grande LNG export project in the second half of 2022, with FIDs of its remaining three trains to follow thereafter.

About NextDecade Corporation

NextDecade Corporation is an energy company accelerating the path to a net-zero future. Leading innovation in more sustainable LNG and carbon capture solutions, NextDecade is committed to providing the world access to cleaner energy. Through our wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are developing a 27 MTPA LNG export facility in South Texas along with one of the largest carbon capture and storage projects in North America. We are also working with third-party customers around the world to deploy our proprietary processes to lower the cost of carbon capture and storage and reduce CO2 emissions at their industrial-scale facilities. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com.

About ENN Natural Gas

As one of the largest private energy companies in China, ENN Natural Gas Co., Ltd. (Stock code 600803.SH) operates over 250 city gas projects nationwide, has annual LNG distribution capacity over 10 bcm, and runs the first large-scale private LNG terminal in China -- Zhoushan LNG Terminal. Its business layout covers the entire natural gas value chain, including distribution, trading, storage and transportation, production, and engineering. Relying on industry best practice, ENN Natural Gas Co., Ltd. has built an intelligent operation platform for the natural gas industry – GreatGas.cn. It accelerates the aggregation of demand, resources, reserves, and delivery ecology of the natural gas industry, innovates and develops digital intelligence services, and promotes the digital intelligence upgrade of the natural gas industry. In 2021, ENN Natural Gas Co., Ltd.’s total natural gas sales volume was 37.2 bcm, accounting for approximately 10% of China’s total natural gas consumption.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design,” “assume,” “budget,” “guidance,” and “forecast” and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on assumptions and analysis made by NextDecade in light of current expectations, perceptions of historical trends, current conditions and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include NextDecade’s progress in the development of its LNG liquefaction and export projects and the timing of that progress; the timing of achieving a final investment decision on the Rio Grande LNG terminal (the “Terminal”); reliance on third-party contractors to successfully complete the Terminal and the pipeline to supply gas to the Terminal; ability to secure additional debt and equity financing in the future to complete the Terminal on commercially acceptable terms; accuracy of estimated costs for the Terminal; ability to achieve operational characteristics of the Terminal, when completed, including liquefaction capacities, and any differences in such operational characteristics from expectations; development risks, operational hazards and regulatory approvals applicable to NextDecade's development, construction and operation activities and those of its third-party contractors and counterparties; technological innovation which may lessen NextDecade's anticipated competitive advantage or demand for its offerings; global demand for and price of LNG; availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG industries, including environmental laws and regulations that impose significant compliance costs and liabilities; global pandemics, including the 2019 novel coronavirus pandemic, the Russia-Ukraine conflict, other sources of volatility in the energy markets and their impact on NextDecade's business and operating results, including any disruptions in its operations or development of the Terminal and the health and safety of its employees, and on its customers, the global economy and the demand for LNG; risks related to doing business in and having counterparties in foreign countries; NextDecade's ability to maintain the listing of our securities on the Nasdaq Capital Market or another securities exchange or quotation medium; changes adversely affecting the businesses in which NextDecade is engaged; management of growth; general economic conditions; ability to generate cash; and the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. Additionally, any development of the Terminal remains contingent upon completing required commercial agreements, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.


Contacts

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OMAHA, Neb.--(BUSINESS WIRE)--Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture, today announced a new segment reporting structure that reflects realignment of internal management and reporting.


Effective for the first quarter 2022 reporting period, Valmont is realigning its previous four reporting segments to report results in two segments:

Infrastructure includes the previous segments of Utility Support Structures, Engineered Support Structures, and Coatings

Agriculture is a renaming of the previous Irrigation segment

"We are experiencing a transformative time in Valmont’s history and as part of this journey, our goal is to institute a culture of positive change that will foster collaboration, encourage enterprise-wide innovation, and leverage technology to advance our productivity," said Stephen G. Kaniewski, President and Chief Executive Officer. "With this new alignment that reflects how I manage the business, Valmont remains committed to our tagline: Conserving Resources. Improving Life.® This organizational structure allows us to elevate our focus on capital allocation, technology development, and market growth strategies across the leadership teams. Additionally, by simplifying our company structure we can more effectively articulate our strategy and purpose as a company across our key stakeholder groups, including employees, investors, and customers."

Kaniewski continued, "With an increasing convergence of key market drivers, the Infrastructure realignment allows us to better collaborate across product lines, generating greater customer focus as we create innovative smart infrastructure across the portfolio to bring to the market. I believe this will enable us to maximize profitability for the larger segment as we execute our strategies more efficiently across multiple product lines. Agriculture is a more subtle shift, recognizing our growing focus on more than just irrigation as we begin to expand our technology solutions globally beyond only irrigated acres."

Within the Infrastructure segment, the Company will report revenue for five product lines: Transmission, Distribution and Substation, Renewable Energy, Lighting and Transportation, Telecommunication, and Coatings. The Agriculture segment will continue reporting product line revenue for North America Irrigation and International Irrigation and will begin reporting Agricultural Technology revenue. In parallel with the segment realignment, we are centralizing operations of our manufacturing footprint on a global basis across both segments to focus on improving productivity, increasing output, and driving efficient capital allocation.

The company will file a current report on Form 8-K on or about April 6, 2022 with a recast of comparable prior year segment financial information for 2020 and 2021 affected by the change, along with a summary presentation on the Investors page at valmont.com. The Company's historical GAAP balance sheet, income statement, and cash flows are not affected.

About Valmont Industries, Inc.

For over 75 years, Valmont® has been a global leader in creating vital infrastructure and advancing agricultural productivity. Today, we remain committed to doing more with less by innovating through technology. Learn more about how we’re Conserving Resources. Improving Life.® at valmont.com.

Concerning Forward-Looking Statements

This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that management has made in light of experience in the industries in which Valmont operates, as well as management’s perceptions of historical trends, current conditions, expected future developments and other factors believed to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond Valmont’s control) and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Valmont’s actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include among other things, the continuing and developing effects of COVID-19 including the effects of the outbreak on the general economy and the specific economic effects on the Company’s business and that of its customers and suppliers, risk factors described from time to time in Valmont’s reports to the Securities and Exchange Commission, as well as future economic and market circumstances, industry conditions, company performance and financial results, operating efficiencies, availability and price of raw material, availability and market acceptance of new products, product pricing, domestic and international competitive environments, and actions and policy changes of domestic and foreign governments. The Company cautions that any forward-looking statement included in this press release is made as of the date of this press release and the Company does not undertake to update any forward-looking statement.


Contacts

Renee Campbell
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Securities and Exchange Commission cautions investors about such offers, which are often below market price

BALTIMORE--(BUSINESS WIRE)--Constellation (Nasdaq: CEG), America’s largest producer of carbon-free energy, is recommending that investors reject a “mini-tender” offer by TRC Capital Investment Corp. (TRC), a Canadian investment firm. Constellation received notification of an unsolicited mini-tender offer by TRC dated April 1, 2022, to purchase up to 2 million shares of Constellation common stock at a price that was 4.26 percent below Constellation’s common stock share price on the Nasdaq Stock Market on the date of the offer. The target number of shares is less than 1 percent (0.61%) of Constellation’s outstanding shares.

Constellation does not endorse TRC's mini-tender offer and recommends that its stockholders do not tender their shares in response to the offer because the price is lower than the current market price for Constellation’s shares. Stockholders who have already tendered their shares may withdraw them at any time prior to the expiration of the offer, in accordance with the terms of TRC’s offer. The offer is currently scheduled to expire at 12:01 a.m. Eastern Time on May 4, 2022, though TRC may extend the offering period at its discretion.

Mini-tender offers typically aim to acquire less than five percent of a company's outstanding shares, thereby avoiding many investor protections, including the disclosure and procedural requirements of the Securities and Exchange Commission (SEC) that apply to larger tender offers under United States securities laws. TRC has a history of making similar mini-tender offers for shares of publicly traded companies.

Constellation urges stockholders to obtain current market quotes for their shares, review the conditions to TRC's mini-tender offer, consult with their brokers or financial advisors and exercise caution with respect to this mini-tender offer. Constellation is not associated with TRC, its mini-tender offer or the offer documentation.

The SEC has cautioned investors about these offers, noting that some bidders make mini-tender offers at below-market prices, hoping that they will “catch investors off guard if the investors do not compare the offer price to the current market price." The SEC's Tips for Investors regarding mini-tender offers may be found on the SEC's website at www.sec.gov/investor/pubs/minitend.htm.

Constellation requests that a copy of this press release be included with all distributions of materials relating to TRC's mini-tender offer.

About Constellation

Constellation is the nation’s largest producer of carbon-free energy and the leading competitive retail supplier of power and energy products and services for homes and businesses across the United States. Headquartered in Baltimore, its generation fleet powers more than 20 million homes and businesses and is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is 90 percent carbon-free. Constellation has set a goal to eliminate 100 percent of its greenhouse gas emissions by leveraging innovative technology and enhancing its diverse mix of hydro, wind and solar resources paired with the nation’s largest carbon-free nuclear fleet. Constellation’s family of retail businesses serves approximately 2 million residential, public sector and business customers, including three-fourths of the Fortune 100. Learn more at www.constellationenergy.com or on Twitter at @ConstellationEG.


Contacts

Emily Duncan
Investor Relations
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Paul Adams
Corporate Communications
410-470-9700
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Bloom Energy’s first international electrolyzer deployment showcases pathways to produce clean, low-cost hydrogen at scale to unlock South Korea’s net-zero future

SAN JOSE, Calif.--(BUSINESS WIRE)--$BE #hydrogen--Bloom Energy (NYSE: BE) today announced the first international deployment of its high temperature solid oxide electrolyzer. The successful 130 kilowatt (kW) installation in Gumi, South Korea, further propels Bloom Energy’s efforts to enable a hydrogen-fueled economy following the commercial launch of the Bloom Electrolyzer in 2021.


Bloom’s high-temperature electrolyzer is operating at its designed high efficiency, producing hydrogen onsite more efficiently than low-temperature PEM and alkaline electrolyzers. Because it operates at high temperatures, the Bloom Electrolyzer requires less energy to split water molecules and produce hydrogen. As electricity accounts for up to 80 percent of the cost of hydrogen from electrolysis, using less electricity increases the economics of hydrogen production and helps bolster adoption.

Fully operational at the Bloom SK Fuel Cell center in South Korea since January 2022, this new demonstration is testing electrolysis efficiency using water as an input in intermittency mode. The Bloom Electrolyzer is effectively and efficiently operating in daily cycles, demonstrating its ability to pair with intermittent renewables, such as solar and wind.

In production, the Bloom Electrolyzer is expected to operate at 46 kilowatt hours (kW-hr) per kilogram of hydrogen (kg H2) output with water as its input. When steam is used, the electrolyzer requires even less electricity, expected to operate at 40.4 kW-hr/kg H2, driving further efficiencies.

“The successful deployment of our electrolyzer internationally is a testament to the confidence it has garnered to create viable pathways to achieving a net-zero, hydrogen-fueled future,” said Deia Bayoumi, vice president, global product management, Bloom Energy. “This marks a critical step in our mission to transform the global energy landscape and enable the hydrogen economy.”

The project aligns with South Korea’s efforts to decarbonize its energy system and become a global leader in the hydrogen economy in the coming decades. Investing heavily in new technologies and infrastructure to spur the production and adoption of the carbon-neutral fuel, South Korea aims to replace fossil fuels with hydrogen as its chief power source by 2050, according to the Ministry of Trade, Industry, and Energy. With the capacity to scale hydrogen production rapidly, Bloom Energy and SK ecoplant are well-suited to drive South Korea’s energy transition forward.

“A significant milestone in our successful partnership with Bloom Energy, this latest collaboration is a testament to our shared vision to transform South Korea’s energy landscape and unlock new value through innovation,” said Seoung-hwan Oh, vice president, hydrogen business, SK ecoplant. “Bloom Energy’s technology has demonstrated unparalleled performance and efficiency, further establishing us at the forefront of South Korea’s clean energy market.”

Highly flexible, the Bloom Electrolyzer offers unique advantages for deployment across a broad variety of hydrogen applications, using multiple energy sources including intermittent renewable energy and excess heat. Its modular design also makes it ideal for applications across gas, utilities, nuclear, wind, solar, ammonia and heavy industries.

For more information about the Bloom Electrolyzer and the company’s commitment to a zero-carbon future, visit: www.bloomenergy.com/bloomelectrolyzer.

About Bloom Energy
Bloom Energy empowers businesses and communities to responsibly take charge of their energy. The company’s leading solid oxide platform for distributed generation of electricity and hydrogen is changing the future of energy. Fortune 100 companies around the world turn to Bloom Energy as a trusted partner to deliver lower carbon energy today and a net-zero future. For more information, visit www.bloomenergy.com.

Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will” and “would” or the negative of these words or similar terms or expressions that concern Bloom’s expectations, strategy, priorities, plans or intentions. These forward-looking statements include, but are not limited to, expectations to enable a hydrogen-fueled economy following the commercial launch of the Bloom Electrolyzer in 2021; and Bloom’s ability to drive South Korea’s energy transition forward. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors including, but not limited to, the risks related the ability of the existing partnership to fortify the companies market leadership in power generation and to establish market leadership in the hydrogen economy; timing and development of an ecosystem for the hydrogen market, including in the South Korean market; continued incentives in the South Korean market; the timing and pace of adoption of hydrogen for stationary power; the risk of manufacturing defects; the accuracy of Bloom’s estimates regarding the useful life of its Energy Servers; delays in the development and introduction of new products or updates to existing products; Bloom’s ability to secure partners in order to commercialize its electrolyzer and carbon capture products; the impact of the COVID-19 pandemic on the global economy and its potential impact on Bloom’s business; the availability of rebates, tax credits and other tax benefits; changes in the regulatory landscape; Bloom’s reliance on tax equity financing arrangements; Bloom’s reliance upon a limited number of customers; Bloom’s lengthy sales and installation cycle, construction, utility interconnection and other delays and cost overruns related to the installation of its Energy Servers; business and economic conditions and growth trends in commercial and industrial energy markets; global economic conditions and uncertainties in the geopolitical environment; overall electricity generation market; Bloom’s ability to protect its intellectual property; and other risks and uncertainties detailed in Bloom’s SEC filings from time to time. More information on potential factors that may impact Bloom’s business are set forth in Bloom’s periodic reports filed with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022, as well as subsequent reports filed with or furnished to the SEC from time to time. Bloom assumes no obligation to, and does not currently intend to, update any such forward-looking statements.


Contacts

Bloom Energy Investor Relations:
Ed Vallejo
+1 267.370.9717
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Bloom Energy Media Contact:
Jennifer Duffourg
+1 480.341.5464
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DALLAS--(BUSINESS WIRE)--Holly Energy Partners, L.P. (NYSE: HEP) (the “Partnership”) announced today that it and its wholly owned subsidiary, Holly Energy Finance Corp. (together with the Partnership, the “Issuers”), subject to market conditions, intend to offer $400 million in aggregate principal amount of senior notes due 2027 (the “Notes”) in a private placement in accordance with Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”) to eligible purchasers (the “Offering”). The Notes will be unsecured, senior obligations of the Issuers, and interest will be payable semi-annually in arrears. The Notes will initially be guaranteed on a senior unsecured basis by the Partnership’s existing wholly owned subsidiaries (other than Holly Energy Finance Corp., UNEV Pipeline, LLC and certain immaterial subsidiaries). The Partnership intends to use the net proceeds from the Offering to partially repay outstanding borrowings under its revolving credit agreement.


The Notes and the related guarantees have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Issuers plan to offer and sell the Notes only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.

This press release is for informational purposes only and does not constitute an offer to sell or a 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Holly Energy Partners, L.P.

Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including subsidiaries of HF Sinclair Corporation (“HF Sinclair”). The Partnership, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude pipelines, tankage and terminals in Colorado, Idaho, Iowa, Kansas, Missouri, Nevada, New Mexico, Oklahoma, Texas, Utah, Washington and Wyoming, as well as refinery processing units in Kansas and Utah.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains various “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. When used in this press release, words such as “anticipate,” “project,” “expect,” “will,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may” and similar expressions and statements regarding our plans and objectives for future operations are intended to identify forward-looking statements. These forward-looking statements are based on our beliefs and assumptions and those of our general partner, using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties. Although we and our general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither we nor our general partner can give assurance that our expectations will prove to be correct. All statements concerning our expectations for future results of operations are based on forecasts for our existing operations and do not include the potential impact of any future acquisitions. Our forward-looking statements are subject to a variety of risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, projected or expected. Certain factors could cause actual results to differ materially from results anticipated in the forward-looking statements. These factors include, but are not limited to: (i) HF Sinclair’s and our ability to successfully integrate the Sinclair Oil Corporation and Sinclair Transportation Company businesses acquired from REH Company (formerly known as The Sinclair Companies, referred to herein as “Sinclair”) (collectively, the “Sinclair Transactions”) with their existing operations and fully realize the expected synergies of the Sinclair Transactions or on the expected timeline; (ii) risks relating to the value of our limited partner common units issued at the closing of the Sinclair Transactions from sales by the Sinclair holders following the closing of the Sinclair Transactions; (iii) the demand for and supply of crude oil and refined products, including uncertainty regarding the effects of the continuing COVID-19 pandemic on future demand and increasing societal expectations that companies address climate change; (iv) risks and uncertainties with respect to the actual quantities of petroleum products and crude oil shipped on our pipelines and/or terminalled, stored or throughput in our terminals and refinery processing units; (v) the economic viability of HF Sinclair, our other customers and our joint ventures’ other customers, including any refusal or inability of our or our joint ventures’ customers or counterparties to perform their obligations under their contracts; (vi) the demand for refined petroleum products in the markets we serve; (vii) our ability to purchase and integrate future acquired operations; (viii) our ability to complete previously announced or contemplated acquisitions; (ix) the availability and cost of additional debt and equity financing; (x) the possibility of temporary or permanent reductions in production or shutdowns at refineries utilizing our pipelines, terminal facilities and refinery processing units, due to reasons such as infection in the workforce, in response to reductions in demand or lower gross margins due to the economic impact of the COVID-19 pandemic, and any potential asset impairments resulting from such actions; (xi) the effects of current and future government regulations and policies, including the effects of current and future restrictions on various commercial and economic activities in response to the COVID-19 pandemic; (xii) delay by government authorities in issuing permits necessary for our business or our capital projects; (xiii) our and our joint venture partners’ ability to complete and maintain operational efficiency in carrying out routine operations and capital construction projects; (xiv) the possibility of terrorist or cyberattacks and the consequences of any such attacks; (xv) uncertainty regarding the effects and duration of global hostilities and any associated military campaigns which may disrupt crude oil supplies and markets for refined products and create instability in the financial markets that could restrict our ability to raise capital; (xvi) general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States; (xvii) the impact of recent or proposed changes in the tax laws and regulations that affect master limited partnerships; and (xviii) other financial, operational and legal risks and uncertainties detailed from time to time in our filings with the U.S. Securities and Exchange Commission.

All forward-looking statements included in this press release and all subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Other factors described herein, or factors that are unknown or unpredictable, could also have a material adverse effect on future results. You should not put undue reliance on any forward-looking statements. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements set forth in the “Risk Factors” section in our Annual Report on Form 10-K for the year ended December 31, 2021. The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


Contacts

Craig Biery
Vice President, Investor Relations
or
Trey Schonter
Investor Relations

Holly Energy Partners, L.P.
214-954-6511

BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“ or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce the signing of a technology assessment, sales, and development agreement with Hyundai Motor Company (“Hyundai”), a leading multinational automotive manufacturer offering a range of world-class vehicles and mobility services in over 200 countries.


Advent and Hyundai aim to deliver green energy solutions to current high carbon applications, using fuel cell technology. Under the agreement, Hyundai will provide catalysts to Advent for evaluation in its proprietary Membrane Electrode Assemblies (“MEAs”), while Advent intends to support Hyundai in fulfilling its fuel cell project needs, through:

  • Developing inks and structures using IFAT catalysts, which will then be evaluated by IFAT. Following evaluation, Hyundai will determine whether IFAT or standard catalysts will be used for this project.
  • Supplying MEAs throughout the development/commercialization cycle (“Advent MEAs”) for testing, evaluation, and optimization under conditions set by Hyundai.
  • Assisting Hyundai with the use and specifications of MEAs as well as their implementation into Hyundai’s designs.

Following the completion of the first phase of the project, the companies will collaborate closely to set out specific product requirements, collaborative product goals, as well as milestones for achieving established goals and plans for phase 2, which shall also include Advent’s stack cooling technology.

The new Advent MEAs to be tested by Hyundai are currently being developed within the framework of L’Innovator, Advent’s joint development program with the U.S. Department of Energy’s Los Alamos National Laboratory, Brookhaven National Laboratory, and National Renewable Energy Laboratory. MEAs are the most important components of a fuel cell as they greatly define the performance, lifetime, weight, and cost of the end system.

Advent MEAs operate at a high temperature (80oC to 240oC) compared to the incumbent low temperature PEM technology, which is restricted to an operating temperature of below 100oC. The ability to operate at a high temperature confers significant advantages such as the efficient heat removal in heavy-duty mobility applications, making Advent’s high temperature PEM an ideal technology for trucks, aviation, and marine applications. Advent’s MEAs can operate effectively with fuels such as impure hydrogen which can be reformed on-board from methanol, natural gas, and other renewable fuels. Advent’s MEAs are also resilient to extreme temperature variations, humidity, and air quality conditions.

Dr. Emory De Castro, Advent’s Chief Technology Officer, stated, “We are excited and proud to join forces with Hyundai, aiming to greatly contribute to their mission and to jointly participate in the pivotal role to transition global society to clean energy, therefore making hydrogen an economically viable energy source. MEAs form the heart of the fuel cell and they are also a critical component for other electrochemistry applications, such as CO2-free hydrogen production, and, energy storage. We hope our proprietary MEAs will best serve Hyundai’s business needs and look forward to a long and highly successful collaboration, sharing our long-standing expertise to support Hyundai in bringing its future mobility strategy to life.”

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems, and the critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 100 patents issued for its fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.


Contacts

Advent Technologies Holdings, Inc.
Elisabeth Maragoula / Chris Kaskavelis
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HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) announced today the commencement of offers to exchange (collectively, the “Exchange Offers”) any and all validly tendered (and not validly withdrawn) and accepted notes of the seven series of notes described in the table below (collectively, the “Old Notes”) issued by Phillips 66 Partners LP (“PSXP”) for notes to be issued by Phillips 66 Company (“P66 Co”), a wholly owned subsidiary of Phillips 66, as described in the table below (collectively, the “New Notes”).


The New Notes will be fully and unconditionally guaranteed by Phillips 66. The New Notes will be unsecured and unsubordinated obligations of P66 Co and will rank equally with all other unsecured and unsubordinated indebtedness of P66 Co issued from time to time, and the guarantees will rank equally with all other unsecured and unsubordinated indebtedness of Phillips 66. Through the Exchange Offers, the holders of Old Notes issued by PSXP are being offered the opportunity to exchange their Old Notes for New Notes with the same interest rates and maturities in light of the recent acquisition of PSXP by Phillips 66.

The Exchange Offers are being conducted upon the terms and subject to the conditions set forth in a confidential offering memorandum and consent solicitation statement dated April 6, 2022 (the “Offering Memorandum”).

The Exchange Offers are only made, and the New Notes are only being offered and issued, (a) in the United States to holders of Old Notes who are “qualified institutional buyers” as defined in Rule 144A under the Securities Act of 1933 (the “Securities Act”), or (b) outside the United States to holders of Old Notes who (i) are persons other than U.S. persons in reliance upon Regulation S under the Securities Act, (ii) are not “EEA Retail Investors” or “UK Retail Investors” (each as defined in the Offering Memorandum) and (iii) in the case of persons located in the United Kingdom, are “Relevant Persons” (as defined in the Offering Memorandum). The holders of Old Notes who have certified to P66 Co that they are eligible to participate in the Exchange Offers pursuant to at least one of the foregoing conditions are referred to as “Eligible Holders.”

The following table sets forth the Old Notes that are subject to the Exchange Offers and the consideration to be offered to Eligible Holders of the Old Notes in the Exchange Offers:

Title of Series of Old Notes

CUSIP/ISIN No.

Aggregate
Principal
Amount

Title of Series
of New Notes
to be Issued
by Phillips 66 Company

Exchange
Consideration (1)(2)

Early
Participation
Premium (1)(2)

Total
Consideration
(1)(2)(3)

New
Notes
(Principal
Amount)

New Notes
(Principal
Amount)

Cash

New
Notes
(Principal
Amount)

Cash

2.450% Senior Notes
due 2024

718549 AG3/
US718549AG31

$300,000,000

2.450% Senior Notes due 2024

$ 970

$ 30

$ 1.00

$ 1,000

$ 1.00

3.605% Senior Notes
due 2025

718549 AB4/
US718549AB44

$500,000,000

3.605% Senior Notes due 2025

$ 970

$ 30

$ 1.00

$ 1,000

$ 1.00

3.550% Senior Notes
due 2026

718549 AD0/
US718549AD00

$500,000,000

3.550% Senior Notes due 2026

$ 970

$ 30

$ 1.00

$ 1,000

$ 1.00

3.750% Senior Notes
due 2028

718549 AF5/
US718549AF57

$500,000,000

3.750% Senior Notes due 2028

$ 970

$ 30

$ 1.00

$ 1,000

$ 1.00

3.150% Senior Notes
due 2029

718549 AH1/
US718549AH14

$600,000,000

3.150% Senior Notes due 2029

$ 970

$ 30

$ 1.00

$ 1,000

$ 1.00

4.680% Senior Notes
due 2045

718549 AC2/
US718549AC27

$450,000,000

4.680% Senior Notes due 2045

$ 970

$ 30

$ 1.00

$ 1,000

$ 1.00

4.900% Senior Notes
due 2046

718549 AE8/
US718549AE82

$625,000,000

4.900% Senior Notes due 2046

$ 970

$ 30

$ 1.00

$ 1,000

$ 1.00

(1)

Consideration per $1,000 principal amount of Old Notes validly tendered (and not validly withdrawn) and accepted for exchange, subject to any rounding as described in the Offering Memorandum. Excludes accrued but unpaid interest.

(2)

The term “New Notes” in this column refers, in each case, to the series of New Notes corresponding to the series of Old Notes of like tenor and coupon.

(3)

Includes the Early Participation Premium (as defined below) for Old Notes validly tendered prior to the Early Participation Date described below and not validly withdrawn.

In connection with the Exchange Offers, P66 Co is also soliciting consents (the “Consent Solicitations”) from holders of the Old Notes (on behalf of PSXP) to certain proposed amendments to the corresponding indenture and to supplemental indentures pursuant to which such Old Notes were issued (the “PSXP Indentures”), which amendments will modify or delete certain restrictive terms. If the proposed amendments become effective with respect to any series of Old Notes, the amendments will apply to all Old Notes of such series not tendered in the applicable Exchange Offer, even though the holders of those Old Notes did not consent to the proposed amendments.

The Exchange Offers and Consent Solicitations commenced on April 6, 2022, and will expire at 11:59 p.m., New York City time, on May 3, 2022, unless extended or earlier terminated (the “Expiration Date”). In exchange for each $1,000 principal amount of Old Notes that is validly tendered prior to 5:00 p.m., New York City time, on April 19, 2022, unless extended (such date and time, as it may be extended, the “Early Participation Date”), and not validly withdrawn, holders of such Old Notes will be eligible to receive the total consideration set out in the table above (the “Total Consideration”), which consists of $1,000 principal amount of the corresponding New Notes and a cash amount of $1.00. The Total Consideration includes an early participation premium set out in the table above (the “Early Participation Premium”), which consists of $30 principal amount of the corresponding series of New Notes per $1,000 principal amount of Old Notes and a cash amount of $1.00 per $1,000 principal amount of Old Notes. In exchange for each $1,000 principal amount of Old Notes that is validly tendered after the Early Participation Date but prior to the Expiration Date and not validly withdrawn, holders of such Old Notes will be eligible to receive only the exchange consideration set out in the table above (the “Exchange Consideration”). The consummation of each Exchange Offer is subject to, and conditional upon, the satisfaction or, where permitted, waiver of the conditions, including the Requisite Consent Condition (as defined in the Offering Memorandum), in the Offering Memorandum. P66 Co may, at its option, waive any such conditions. All conditions to the Exchange Offers, including the Requisite Consent Condition (as defined in the Offering Memorandum), must be satisfied or, where permitted, waived, at or by the Expiration Date.

Each New Note issued in exchange for an Old Note will have an interest rate, interest payment dates and maturity that are the same as the interest rate, the interest payment dates and maturity of the corresponding tendered Old Note, as well as substantively the same optional redemption provisions. No accrued but unpaid interest will be paid on the Old Notes in connection with the Exchange Offers. However, interest on the applicable New Note will accrue from and including the most recent interest payment date of the corresponding tendered Old Note.

The complete terms of the Exchange Offers and Consent Solicitations are described in the Offering Memorandum. The Offering Memorandum will only be made available to holders of Old Notes who certify that they are Eligible Holders. Eligible Holders may obtain copies of the Offering Memorandum by contacting D.F. King & Co., Inc., the exchange agent and information agent for the Exchange Offers and the Consent Solicitations, at (877) 783-5524 (U.S. toll free) or (212) 269-5550 (banks and brokers), by emailing This email address is being protected from spambots. You need JavaScript enabled to view it. or by visiting www.dfking.com/psx to complete the eligibility process. Holders of any Old Notes issued in certificated form and that are held of record by a custodian bank, depositary, broker, trust company or other nominee may also contact such record holder for assistance concerning the Exchange Offers.

The Exchange Offers and Consent Solicitations are being made pursuant to the terms and conditions set forth in the Offering Memorandum. Tenders of Old Notes in connection with any of the Exchange Offers may be withdrawn at any time prior to 5:00 p.m., New York City time, on April 19, 2022, unless extended (the “Withdrawal Deadline”), but may not be withdrawn at any time thereafter. Following the Withdrawal Deadline, tenders of Old Notes may not be validly withdrawn unless P66 Co is otherwise required by law to permit withdrawal. Consents to the proposed amendments may be revoked only by validly withdrawing the associated tendered Old Notes. A valid withdrawal of tendered Old Notes prior to the Withdrawal Deadline will be deemed to be a concurrent revocation of the related consent to the proposed amendments to the applicable PSXP Indentures, and a revocation of consent to the proposed amendments prior to the Withdrawal Deadline will be deemed to be a concurrent withdrawal of the related tendered Old Notes.

Subject to applicable law, each Exchange Offer and each Consent Solicitation is being made independently of the other Exchange Offers and Consent Solicitations, and P66 Co reserves the right to terminate, withdraw or amend each Exchange Offer and each Consent Solicitation independently of the other Exchange Offers and Consent Solicitations at any time and from time to time, as described in the Offering Memorandum.

The New Notes have not been registered under the Securities Act or any state securities laws. In connection with the issuance of the New Notes, P66 Co and Phillips 66 will enter into a registration rights agreement pursuant to which they will agree to exchange the New Notes for registered notes having substantially the same terms as the New Notes or, in certain circumstances, to register the resale of New Notes with the Securities and Exchange Commission. Until they are registered, the New Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.

Holders are advised to check with any bank, securities broker or other intermediary through which they hold Old Notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in the Exchange Offers before the deadlines specified herein and in the Offering Memorandum and eligibility certification. The deadlines set by each clearing system for the submission and withdrawal of exchange instructions will also be earlier than the relevant deadlines specified herein and in the Offering Memorandum and eligibility certification.

This press release is not an offer to sell or a solicitation of an offer to buy any of the securities described herein and is not a solicitation of the related consents. The Exchange Offers and Consent Solicitations are being made solely pursuant to the terms and conditions of the Offering Memorandum and the other related materials and only to such persons and in such jurisdictions as is permitted under applicable law. The Exchange Offers and Consent Solicitations are not being made in any state or jurisdiction in which such offers would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

In order to participate in any Exchange Offer and Consent Solicitation for Old Notes, holders of the Old Notes resident in Canada are required to complete, sign and submit to the exchange agent the related Canadian Certification Form. The New Notes may be sold only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the New Notes must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.

Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if the offering memorandum (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser’s province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser’s province or territory for particulars of these rights or consult with a legal advisor.

PROHIBITION OF SALES TO EEA RETAIL INVESTORS – The New Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended or superseded, the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129 (as amended or superseded, the “Prospectus Regulation”). Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended, the “PRIIPs Regulation”) for offering or selling the New Notes or otherwise making them available to retail investors in the European Economic Area has been prepared and therefore offering or selling the New Notes or otherwise making them available to any retail investor in the European Economic Area may be unlawful under the PRIIPs Regulation.

PROHIBITION OF SALES TO UK RETAIL INVESTORS – The New Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom (“UK”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the EUWA; (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (the “FSMA”) and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97 (as amended or superseded, the “Insurance Distribution Directive”), where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of the Prospectus Regulation as it forms part of domestic law by virtue of the EUWA (the “UK Prospectus Regulation”). Consequently no key information document required by the PRIIPs Regulation as it forms part of domestic law by virtue of the EUWA (the “UK PRIIPs Regulation”) for offering or selling the New Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the New Notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $56 billion of assets as of Dec. 31, 2021.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include statements regarding the offers of P66 Co to exchange, and intended offering of, New Notes. These forward-looking statements are subject to risks and uncertainties, including the risks disclosed in the Offering Memorandum and the filings of Phillips 66 with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2021.


Contacts

Phillips 66
Jeff Dietert, 832-765-2297 (investors)
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Shannon Holy, 832-765-2297 (investors)
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Thaddeus Herrick, 855-841-2368 (media)
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HOUSTON--(BUSINESS WIRE)--NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT) announced today the execution of a 20-year sale and purchase agreement (“SPA”) with ENN LNG (Singapore) Pte Ltd (“ENN LNG”), a wholly-owned subsidiary of ENN Natural Gas Co., Ltd. (“ENN”) for the supply of liquefied natural gas (“LNG”) from NextDecade’s Rio Grande LNG export project (“RGLNG”) in Brownsville, Texas.


Under the SPA, ENN LNG will purchase 1.5 million metric tonnes per annum (MTPA) of LNG indexed to Henry Hub on a free-on-board basis. The LNG supply will be from the first two trains at RGLNG with the first train expected to start commercial operations as early as 2026.

“We are pleased to announce this long-term LNG SPA with ENN, a premier Chinese energy company. As one of China’s largest private companies, ENN is a major participant in China’s energy market, and we look forward to a successful, long-term relationship with ENN,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “This SPA underscores the strength of NextDecade’s differentiated offering. The commercial momentum at RGLNG is accelerating and we believe the company is well placed to benefit from the strengthening LNG market.”

Zheng Hongtao, President of ENN Natural Gas Co., Ltd said, “This agreement secures additional volume for our LNG portfolio and helps ensure we can meet the growing demand for secure, flexible, and cleaner energy for our customers in the future. The signing of this SPA reflects ENN’s goal of promoting the global energy transition and is of significance given RGLNG’s low GHG emissions profile relative to other LNG supply sources. We look forward to working with NextDecade in the years to come.”

Assuming the achievement of further LNG contracting and financing, NextDecade anticipates making a positive final investment decision (“FID”) on a minimum of two trains of the Rio Grande LNG export project in the second half of 2022, with FIDs of its remaining three trains to follow thereafter.

About NextDecade Corporation

NextDecade Corporation is an energy company accelerating the path to a net-zero future. Leading innovation in more sustainable LNG and carbon capture solutions, NextDecade is committed to providing the world access to cleaner energy. Through our wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are developing a 27 MTPA LNG export facility in South Texas along with one of the largest carbon capture and storage projects in North America. We are also working with third-party customers around the world to deploy our proprietary processes to lower the cost of carbon capture and storage and reduce CO2 emissions at their industrial-scale facilities. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com.

About ENN Natural Gas

As one of the largest private energy companies in China, ENN Natural Gas Co., Ltd. (Stock code 600803.SH) operates over 250 city gas projects nationwide, has annual LNG distribution capacity over 10 bcm, and runs the first large-scale private LNG terminal in China -- Zhoushan LNG Terminal. Its business layout covers the entire natural gas value chain, including distribution, trading, storage and transportation, production, and engineering. Relying on industry best practice, ENN Natural Gas Co., Ltd. has built an intelligent operation platform for the natural gas industry – GreatGas.cn. It accelerates the aggregation of demand, resources, reserves, and delivery ecology of the natural gas industry, innovates and develops digital intelligence services, and promotes the digital intelligence upgrade of the natural gas industry. In 2021, ENN Natural Gas Co., Ltd.’s total natural gas sales volume was 37.2 bcm, accounting for approximately 10% of China’s total natural gas consumption.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design,” “assume,” “budget,” “guidance,” and “forecast” and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on assumptions and analysis made by NextDecade in light of current expectations, perceptions of historical trends, current conditions and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include NextDecade’s progress in the development of its LNG liquefaction and export projects and the timing of that progress; the timing of achieving a final investment decision on the Rio Grande LNG terminal (the “Terminal”); reliance on third-party contractors to successfully complete the Terminal and the pipeline to supply gas to the Terminal; ability to secure additional debt and equity financing in the future to complete the Terminal on commercially acceptable terms; accuracy of estimated costs for the Terminal; ability to achieve operational characteristics of the Terminal, when completed, including liquefaction capacities, and any differences in such operational characteristics from expectations; development risks, operational hazards and regulatory approvals applicable to NextDecade's development, construction and operation activities and those of its third-party contractors and counterparties; technological innovation which may lessen NextDecade's anticipated competitive advantage or demand for its offerings; global demand for and price of LNG; availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG industries, including environmental laws and regulations that impose significant compliance costs and liabilities; global pandemics, including the 2019 novel coronavirus pandemic, the Russia-Ukraine conflict, other sources of volatility in the energy markets and their impact on NextDecade's business and operating results, including any disruptions in its operations or development of the Terminal and the health and safety of its employees, and on its customers, the global economy and the demand for LNG; risks related to doing business in and having counterparties in foreign countries; NextDecade's ability to maintain the listing of our securities on the Nasdaq Capital Market or another securities exchange or quotation medium; changes adversely affecting the businesses in which NextDecade is engaged; management of growth; general economic conditions; ability to generate cash; and the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. Additionally, any development of the Terminal remains contingent upon completing required commercial agreements, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.


Contacts

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PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation (NYSE: AA) today announced that its Massena facility in New York has earned provisional certification from the Aluminium Stewardship Initiative (ASI) for both its smelter and casthouse.


Massena is the world’s longest continuously operating smelter, with aluminum production beginning in 1902. During its long history of manufacturing excellence, the smelter has undergone numerous upgrades and currently has a nameplate capacity of 130,000 metric tons, all powered by renewable hydroelectricity.

“Earning certifications from ASI aligns with our vision to reinvent the aluminum industry for a sustainable future,” said John Slaven, Alcoa’s Executive Vice President and Chief Operations Officer. “This recognition for Massena is welcome news for the facility’s 120 years of continual production and the important work that our employees do there every day to consistently improve for the benefit of our customers, communities and the environment.”

The provisional ASI Performance Standard certification will bring Alcoa’s total number of facilities certified to ASI’s standards to 16 global sites. Also, Alcoa has earned ASI’s Chain of Custody certification, which allows the company to globally market and sell ASI-certified aluminum. The Performance Standard certifications and the Chain of Custody (CoC) certification align with two of Alcoa’s core sustainability objectives – improving the company’s operational footprint and enhancing the value of its products through differentiation.

The ASI Certification program is the most comprehensive in the industry, developed via a multi-stakeholder consultation process that defines robust environmental, social and governance (ESG) principles and criteria, including key issues such as biodiversity, rights for Indigenous Peoples, and greenhouse gas emissions.

“ASI congratulates Alcoa on Massena’s achievements for the aluminum sector and the historical industrial development it helped bring to the region,” said Fiona Solomon, Chief Executive Officer at ASI. “During its proud history, the facility has continued innovating to meet the challenges of a constantly changing sustainability landscape, and achieving Performance Standard Certification is a demonstration of this commitment.”

The provisional status is due to some criteria requiring an on-site evaluation by an ASI accredited auditor, a practice that complies with ASI’s updated bylaws related to the travel delays associated with the COVID-19 pandemic.

About Alcoa Corp.

Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. With a values-based approach that encompasses integrity, operating excellence, care for people and courageous leadership, our purpose is to Turn Raw Potential into Real Progress. Since developing the process that made aluminum an affordable and vital part of modern life, our talented Alcoans have developed breakthrough innovations and best practices that have led to greater efficiency, safety, sustainability and stronger communities wherever we operate.

Dissemination of Company Information

Alcoa Corporation intends to make future announcements regarding company developments and financial performance through its website at www.alcoa.com, as well as through press releases, filings with the Securities and Exchange Commission, conference calls and webcasts.


Contacts

Investor Contact
James Dwyer
412-992-5450
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Media Contact
Jim Beck
412-315-2909
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New Funding for Continuous Emissions Monitoring to Meet Growing Demand from Upstream Oil & Gas Producers

DALLAS & LONGMONT, Colo.--(BUSINESS WIRE)--Earthview Corporation, developer of the BluBird™ continuous methane monitoring platform, today announced it had secured preferred funding to advance the company’s growth plan and meet growing demand for its continuous methane monitoring solution.


The financing was led by Dallas-based Green Park & Golf Ventures, a leader in technology and scientific investments.

"We are enthusiastic about backing Earthview and supporting their mission to help bring cleaner fuels to the market,” said JR Garcia with Green Park & Golf Ventures. “Their breakthrough BluBird continuous emissions monitoring platform allows upstream and midstream operators the most cost-effective solution for tracking fugitive methane emissions, giving them real-time data on leak size, location, and composition.”

Earthview’s BluBird continuous methane monitoring platform provides energy producers concise emissions data and quantification, including actionable updates via a real-time dashboard. The BluBird platform includes groundbreaking features that help operators produce the cleanest hydrocarbons, improve the efficiency of leak detection and repair teams and visualize emissions at each monitored facility virtually, from anywhere in the world.

“We are thrilled to bring this exciting new technology to operators focused on reducing methane emissions and achieving their environmental performance objectives,” said Bear Givhan, Earthview CEO and Co-Founder. “This funding gives us the financial resources we need to meet growing demand for BluBird, which gives operators the actionable insights they need at a price point that allows implementation at every facility.”

About Green Park & Golf Ventures

GPG Ventures is an early-stage investment firm focused primarily in healthcare with ability to invest in other industries and across stages. GPG is headquartered in Texas, with offices in Dallas and Houston and portfolio companies across the US. More information is available on the firm’s website at gpgventures.com.

About Earthview

Earthview is your partner on the journey to net zero. Our affordable precision air quality monitoring solutions provide the highest return on investment on emissions detection. BluBird sensors are operating reliably in multiple oil and gas producing regions for leading operators in Colorado, the Permian Basin, the Barnett Shale and the Appalachian Basin.

We deliver actionable results at a fraction of the price of competing offerings. More information is available on our website at Earthview.io.


Contacts

Earthview Corporation
Frederick “Bear” Givhan
CEO and Co-Founder
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T: (303) 438-8574

Green Park & Golf Ventures
JR Garcia
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DUBLIN--(BUSINESS WIRE)--The "Worldwide Carbon Fiber in Wind Turbine Rotor Blade Industry" report has been added to ResearchAndMarkets.com's offering.


The global Carbon Fiber in Wind Turbine Rotor Blade market held a market value of USD 3,440.8 Million in 2021 and is projected to reach USD 12,172.6 Million by the year 2030 at a growth rate of 15.37% from 2022 to 2030.

Companies Mentioned

  • ZOLTEK Corporation
  • Mitsubishi Rayon
  • Hexcel
  • Teijin
  • SGL Carbon
  • Formosa Plastics Corp
  • Dow Inc
  • Hyosung Japan
  • Jiangsu Hengshen
  • Taekwang Industrial
  • Swancor Advanced Material Co
  • China Composites Group

Carbon fiber has various benefits in reduction of wind turbine blade mass due to its enhanced properties of strength and stiffness, as compared to the fiberglass. The market is expected to be driven by the increase in wind turbine capacity, rising focus wind energy, and growing environmental concerns & need for reduction of carbon footprint is also estimated to fuel the market growth. Despite the driving factors, high costs of rotor blades are anticipated to hinder the market growth.

Growth Influencers:

Increase in wind turbine capacity

The growing wind turbine capacity is increasing the number of wind turbines, hence increasing the demand for carbon fibers for wind turbine rotor blades. According to the U.S. Energy Information Administration, the average homes in the United States use around 867 kilowatt-hours (kWh) every month. Also, the mean turbine capacity in the USWTDB is around 1.67 megawatts (MW). Hence, increase in the wind turbine capacity is driving the market growth over the projected period.

Rising focus wind energy

Use of wind energy in wind turbines for generation of electricity through kinetic energy usage. It is one of the fastest growing renewable energy technologies. Furthermore, the capacity of wind power has significantly grown over the world. It has also become the most efficient, affordable, and powerful producers through the last decade. Hence, the rising focus wind energy is also anticipated to fuel the market growth over the projected period.

Pros and Cons of Fiber Glass and Carbon Fiber

Pros of fiberglass include that it last a long time and can be coloured, dull, or shiny. Also, the material is low maintenance, fire resistant, weatherproof, anti-magnetic, and a good electrical insulator. Cons of fiberglass include that it requires to be re-gel coated every five years and can also lead to airborne fibres, which might create problems for asthma sufferers. On the other hand, carbon fiber is lightweight and is usually stronger as compared to steel or aluminium. However, the material is comparatively costly as it is more technology and labour intensive.

The global Carbon Fiber in Wind Turbine Rotor Blade market report answers questions such as:

  • What is the market size and forecast of the Global Carbon Fiber in Wind Turbine Rotor Blade Market?
  • What are the inhibiting factors and impact of COVID-19 on the Global Carbon Fiber in Wind Turbine Rotor Blade Market during the assessment period?
  • Which are the products/segments/applications/areas to invest in over the assessment period in the Global Carbon Fiber in Wind Turbine Rotor Blade Market?
  • What is the competitive strategic window for opportunities in the Global Carbon Fiber in Wind Turbine Rotor Blade Market?
  • What are the technology trends and regulatory frameworks in the Global Carbon Fiber in Wind Turbine Rotor Blade Market?
  • What is the market share of the leading players in the Global Carbon Fiber in Wind Turbine Rotor Blade Market?
  • What modes and strategic moves are considered favorable for entering the Global Carbon Fiber in Wind Turbine Rotor Blade Market?

Key Topics Covered:

Chapter 1. Research Framework

Chapter 2. Research Methodology

Chapter 3. Executive Summary: Global Carbon Fiber in Wind Turbine Rotor Blade Market

Chapter 4. Global Carbon Fiber in Wind Turbine Rotor Blade Market Overview

Chapter 5. Carbon Fiber in Wind Turbine Rotor Blade Market Analysis, By Type

Chapter 6. Carbon Fiber in Wind Turbine Rotor Blade Market Analysis, By Blade Size

Chapter 7. Carbon Fiber in Wind Turbine Rotor Blade Market Analysis, By Application

Chapter 8. Carbon Fiber in Wind Turbine Rotor Blade Market Analysis, By Region

Chapter 9. North America Carbon Fiber in Wind Turbine Rotor Blade Market Analysis

Chapter 10. Europe Carbon Fiber in Wind Turbine Rotor Blade Market Analysis

Chapter 11. Asia Pacific Carbon Fiber in Wind Turbine Rotor Blade Market Analysis

Chapter 12. Middle East and Africa Carbon Fiber in Wind Turbine Rotor Blade Market Analysis

Chapter 13. South America Carbon Fiber in Wind Turbine Rotor Blade Market Analysis

Chapter 14. Japan Carbon Fiber in Wind Turbine Rotor Blade Market Analysis

Chapter 15. Company Profile

For more information about this report visit https://www.researchandmarkets.com/r/11fsmy


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Green Data Center Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.


The Global Green Data Center Market Report Provides the Latest Analysis of Market Share, Growth Drivers, Challenges, And Investment Opportunities.

The global green data center market is witnessing intense competition among global data center service providers as well as local companies. The market is witnessing investments from cloud services operators and telecom operators.

Data center operators operating in the North American and European regions are likely to have more efficient and effective infrastructure as compared to operators operating in the MEA and APAC regions.

What makes a data center "Green"?

  • Usage of renewable energy such as wind, hydropower, solar as the primary source of power
  • Buildings with lower PUE and carbon emissions
  • Minimal wastage and provision of reuse and recycling of IT infrastructure such as servers.
  • Usage of innovative data center technologies, such as hydrogen fuel cells, HVO fuel, advanced cooling techniques

Global Green Data Centers Market Segments

  • Innovations in power technologies
  • Innovations in cooling technologies
  • Adoption of district heating and waste heat recovery systems is expanding beyond Nordics
  • Increasing Modular data center design & deployment

Key Vendors

  • 21Vianet Group
  • Africa Data Centres
  • AQ Compute
  • Airtel
  • AirTrunk Operating
  • Apple
  • Alibaba Cloud
  • Aligned
  • Amazon Web Services
  • atNorth
  • Big Data Exchange (BDx)
  • Bridge Data Centres
  • Canberra Data Centers
  • Chayora
  • Chindata
  • Cologix
  • Colt Data Centre Services (COLT DCS)
  • Compass Datacenters
  • COPT Data Center Solutions
  • CoreSite Realty
  • CyrusOne
  • DATA4
  • DataBank
  • DigiPlex
  • Digital Realty
  • EdgeConneX
  • Etisalat Group
  • Equinix
  • Facebook (Meta)
  • Flexential
  • GDS Services
  • Global Switch
  • Google
  • Green Mountain (AZRIELI GROUP)
  • HostDime
  • Huawei Technologies
  • Iron Mountain
  • Keppel Data Centres
  • Microsoft
  • Moro Hub
  • Nautilus Data Technologies
  • Netia
  • NEXTDC
  • NTT Global Data Centers
  • ODATA
  • Oracle
  • Orange Business Services
  • Pure Data Centres Group
  • QTS Realty Trust
  • RackBank
  • Raxio Group
  • Rostelecom Data Centers
  • Scala Data Centers
  • Sify Technologies
  • STACK INFRASTRUCTURE
  • ST Telemedia Global Data Centres
  • Switch
  • Tenglong Holdings Group
  • T5 Data Centers
  • Vantage Data Centers
  • Yandex
  • Yondr
  • Yotta Infrastructure Solutions

Renewable Energy Providers

  • ACCONIA Energia
  • Apex Clean Energy
  • The AES Corporation
  • Conrad Energy
  • Datafarm Energy
  • DE SHAW RENEWABLE INVESTMENTS
  • EDF Renewables
  • Distributed Power Technologies
  • NTR
  • Orsted
  • ScottishPower
  • Torch Clean Energy
  • MC Retail Energy
  • GreenYellow
  • Engie
  • Simply Energy
  • ReNew Power
  • Lightsource bp
  • TotalEnergies
  • Better Energy
  • Ilmatar Energy
  • Faro Energy
  • RWE Renewables
  • ERG
  • Sunseap Group
  • AMP Energy
  • Enel Group
  • Solar Alliance
  • MP2 Energy
  • HDF Energy
  • Shell
  • Eneco
  • Rocky Mountain Power
  • Pattern Energy
  • Neoen
  • Avaada Energy
  • Dominion Energy
  • Pacific Gas and Electric Company
  • Leeward Renewable Energy
  • NextEra Energy

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

4.1 Market Definition

4.2 Base Year

4.3 Scope of the Study

4.4 Market Segments

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a Glance

7 Introduction

7.1 Overview

7.2 Power Usage Effectiveness (Pue)

7.3 Policy Drivers

7.4 Energy Certifications

7.5 Moving Towards Green Energy

7.6 Renewable Energy Adoption by Data Center Operators

8 Efficiency in It Infrastructure

9 Market Opportunities & Trends

9.1 Innovative Data Center Power Technologies

9.2 Sustainable Innovations in Data Center Power Technology

9.3 Innovative Data Center Cooling Technologies

9.4 Ai & Hpc Applications Boost Liquid Immersion & Direct-To-Chip Cooling Adoption

9.5 Increasing Adoption of District Heating Concept

9.6 Increase in Industrial Electricity Pricing

9.7 Growth in Data Centers Targeting Pue < 1.5

9.8 Adoption of Advanced It Infrastructure

9.9 Government Push for Green Data Center Development

10 Market Growth Enablers

10.1 Renewable Energy Initiatives by Hyperscale & Cloud Operators

10.2 Renewable Energy Initiatives by Colocation & Enterprise Operators

10.3 Growing Cloud Services Adoption

10.4 Automation & Intelligent Monitoring Solutions

10.5 Deployment of Modular Data Centers & Gensets

11 Market Restraints

11.1 Rising Carbon Emissions from Data Centers

11.2 Water Consumption by Data Centers

11.3 Lack of Skilled Data Center Professionals

11.4 Location Constraints for Green Data Centers

12 Market Landscape

12.1 Market Overview

12.2 Investment: Market Size & Forecast

12.3 Power Capacity: Market Size & Forecast

12.4 Five Forces Analysis

13 Infrastructure

13.1 Market Snapshot & Growth Engine

13.2 Market Overview

13.3 Electrical Infrastructure

13.4 Mechanical Infrastructure

13.5 General Construction

14 Electrical Infrastructure

14.1 Market Snapshot & Growth Engine

14.2 Market Overview

14.3 Ups Systems

14.4 Generators

14.5 Transfer Switches & Switchgear

14.6 Pdus

14.7 Other Electrical Infrastructure

15 Mechanical Infrastructure

15.1 Market Snapshot & Growth Engine

15.2 Market Overview

15.3 Cooling Systems

15.4 Racks

15.5 Other Mechanical Infrastructure

16 Cooling Systems

16.1 Market Snapshot & Growth Engine

16.2 Market Overview

16.3 Crac & Crah Units

16.4 Chiller Units

16.5 Cooling Towers, Condensers & Dry Coolers

16.6 Economizers & Evaporative Coolers

16.7 Other Cooling Units

17 Cooling Technique

17.1 Market Snapshot & Growth Engine

17.2 Market Overview

17.3 Air-Based Cooling Techniques

17.4 Liquid-Based Cooling Techniques

18 General Construction

18.1 Market Snapshot & Growth Engine

18.2 Market Overview

18.3 Core & Shell Development

18.4 Installation & Commissioning Services

18.5 Building & Engineering Design

18.6 Physical Security

18.7 Fire Detection & Suppression

18.8 Dcim/Bms Solutions

19 Geography

19.1 Market Snapshot & Growth Engine

19.2 Power Capacity: Snapshot & Growth Engine

For more information about this report visit https://www.researchandmarkets.com/r/4sazpt


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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CHICAGO--(BUSINESS WIRE)--GATX Corporation (NYSE:GATX) will report results for the 2022 first quarter prior to market open on April 20, 2022. GATX will hold a conference call to review the results later that morning. Investors may listen to the call via telephone or over the internet as follows:


Live Teleconference

Date:

 

April 20, 2022

Time:

 

11 a.m. (Eastern Time)

Domestic Dial-In:

 

1-800-289-0720

International Dial-In:

 

1-323-701-0160

Live Webcast:

 

www.gatx.com

To participate by phone, please dial in approximately 15 minutes prior to the start time and reference the GATX conference call. To listen via webcast, click the link on GATX’s homepage, www.gatx.com.

Replay Information

Time:

 

Starting at 2 p.m. (Eastern Time), April 20, 2022

Domestic Dial-In:

 

1-888-203-1112

International Dial-In:

 

1-719-457-0820

Access Code:

 

4973176

Web Access:

 

The replay will also be available at www.gatx.com

COMPANY DESCRIPTION

At GATX Corporation (NYSE:GATX), we empower our customers to propel the world forward. GATX leases transportation assets including railcars, aircraft spare engines and tank containers to customers worldwide. Our mission is to provide innovative, unparalleled service that enables our customers to transport what matters safely and sustainably, while championing the well-being of our employees and communities. GATX has been headquartered in Chicago, Illinois since its founding in 1898.

AVAILABILITY OF INFORMATION ON GATX'S WEBSITE

Investors and others should note that GATX routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the GATX Investor Relations website. While not all of the information that the Company posts to the GATX Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in GATX to review the information that it shares on www.gatx.com under the “Investor Relations” tab.


Contacts

Shari Hellerman
Director, Investor Relations
GATX Corporation
312-621-4285
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Koch Strategic Platforms Invests $30 Million in Manufacturing Facilities; Ben Eiref Joins as CEO from Amazon Web Services

HAYWARD, Calif.--(BUSINESS WIRE)--Blue Current today announced that it has named a new CEO, Ben Eiref, former Worldwide Head of Automotive Solutions at Amazon Web Services (AWS). Koch Strategic Platforms (KSP) has invested $30 million to accelerate commercialization of the company’s technology and build its first megawatt-scale factory in California.


Solid-state batteries are expected to be the energy storage foundation for the new energy economy that includes electric vehicles, grid storage, and consumer electronics. In 2016, Blue Current imagined the possibility of combining the mechanical elasticity and adhesive capabilities of polymers with the ionic conductivity of glass ceramics to maximize safety, temperature, performance, and scalability. In 2018 the company used this approach to create a fully dry solid-state battery with a high silicon content anode to increase energy density. The company refers to this combination of properties together as a “silicon elastic composite” battery.

"Customers want completely safe batteries with a big boost in capacity and performance,” said Ben Eiref, Blue Current CEO. “Through independent validation, we have demonstrated that our silicon elastic composite solid-state cells are resistant to fire and provide high energy density and long cycle life. Now we’re focused on scaling the technology and furthering innovations that improve system-level energy density. This is a critical enabler for our customers to build lighter and more space efficient electric vehicles and consumer electronics.”

The Company is in early-stage testing with automotive customers and will expand to consumer electronics and other market segments. In Hayward, California, Blue Current is utilizing a 22,000-square-foot production-ready facility with state-of-the-art wet and dry labs, battery cycling and high-bay logistics space.

“Solid-state battery technology will play a pivotal role in global energy transformation,” said Jeremy Bezdek, managing director for KSP. “Our extensive diligence indicated that Blue Current has an advantaged intellectual property position that has the potential to be disruptive in the solid-state battery space.” Koch Strategic Platforms is a subsidiary of Koch Industries, one of the nation’s largest private companies in the United States with over 120,000 employees globally. KSP has invested over $1.2 billion in energy transformation since 2021.

“We’re excited to have Ben join us at Blue Current as CEO. He brings to the company deep industry insight and the discipline to translate successful R&D and prototypes into winning products at scale,” stated Blue Current’s cofounders Nitash Balsara, PhD, the Charles W. Tobias Professor of Electrochemistry in the Department of Chemical and Biomolecular Engineering at the University of California, Berkeley, and Joseph M. DeSimone, PhD, the Sanjiv Sam Gambhir Professor of Translational Medicine and Chemical Engineering at Stanford University.

Ben Eiref has decades of experience building new businesses in the electric vehicle and technology industries. At AWS, Eiref started the company’s cloud solution business supporting autonomous, connected and electric vehicles. Prior to AWS, he led U.S. strategy and business development for electric powertrain technology at NIO, overseeing innovation and partnerships with top automakers. He was previously a member of the engineering team that built the original prototype of the General Motors EV1 electric car.

About Blue Current

Blue Current strives to provide the safest and highest performance solid-state battery storage for the new energy economy including electric vehicles, grid storage and consumer electronics. Blue Current leads with science, data and thoughtful IP across the full solid-state battery stack. The Company is based in Hayward, California. www.BlueCurrent.com @Solid_Battery


Contacts

Media:
Tali Mackay
Rubenstein
323-719-8391
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