Transitions from design into testing and implementation of supercritical CO₂ power generation system to be utilized in 5 MWe commercial-scale demonstration deployment in California

PASADENA, Calif.--(BUSINESS WIRE)--$HLGN #ArtificialIntelligence--Heliogen, Inc. (NYSE: HLGN), a leading provider of AI-enabled concentrated solar energy technology, today announced that the company has achieved a key development milestone, transitioning from design into testing and implementation of its supercritical CO₂ (sCO₂) power generation system to be utilized to generate carbon-free electricity for its previously announced 5 MWe commercial-scale demonstration deployment for Woodside in Mojave, California.

The deployment of Heliogen’s AI-enabled concentrated solar energy technology, including testing and deployment of the sCO₂ power generation system, is being funded with up to $50M from Woodside, along with Heliogen’s previously announced $39 million award from the U.S. Department of Energy to deploy its renewable energy technology in California. Heliogen expects to recognize approximately $80 million in total revenue from Woodside and the U.S. Department of Energy for the project over a multi-year period.

In partnership with Hanwha Power Systems, a global leader in the development of eco-friendly power generation solutions, Heliogen has developed a modular, high-efficiency 5 MWe sCO₂ power block integrated with high temperature solid media thermal energy storage, designed to meet the renewable power generation requirements for industrial customers in energy, mining and other heavy industries. Hanwha and Heliogen have entered into an agreement for the production and delivery of the power block for the Mojave, California demonstration project.

In addition to the power block, Heliogen is collaborating with Vacuum Process Engineering (VPE) and Solex Thermal Science to develop an advanced particle to sCO2 heat exchanger that will be used to transfer thermal energy from thermal storage to the power block. A test loop is being designed and fabricated by Combustion Associates Inc (CAI) based in Corona, California, to validate the performance of the heat exchanger.

When complete, Heliogen expects the sCO₂ heat exchanger to be the largest of its type ever built, and the power block is expected to be the first and largest commercially-deployed integrally geared sCO₂ recompression closed Brayton cycle. These innovations convert the thermal energy produced by Heliogen’s advanced concentrated solar energy technology into power with the goal of delivering higher efficiencies with a smaller footprint than traditional steam turbines.

“This development milestone further demonstrates Heliogen’s momentum through commercial, technological and governmental partnerships,” said Bill Gross, Founder and Chief Executive Officer of Heliogen. “Bringing together the needs and expertise of world-class companies like Woodside, Hanwha, and others will accelerate the pace at which Heliogen is able to deploy our innovative technologies for providing clean energy to heavy industry. The support of the U.S. Department of Energy is also critical in moving technologies like ours into commercial deployment phase. I am incredibly excited at what our company can achieve in 2022 and beyond.”

“We are proud to transition out of the design phase and into testing and implementation of our advanced sCO₂ power cycle,” said Steve Schell, Chief Technology Officer and Chief Engineer at Heliogen. “The innovative design we have developed is a testament to our world-class engineering capabilities and our partnership with Hanwha, which brings unparalleled expertise in designing, developing and commercializing sustainable power systems. Our collective teams have taken a significant step forward in developing the technology that will play a critical role in decarbonizing heavy industry to fight climate change.”

The implementation of Heliogen’s unique concentrated solar technology couples its AI-powered heliostat field with a sCO₂ power cycle with the goal of enabling higher efficiency, lower cost power generation with a smaller footprint and reduced water use compared to traditional steam turbines. To do this, Heliogen’s AI-powered heliostat field will efficiently generate higher temperatures than traditional concentrated solar, enabling the cost-effective integration of thermal energy storage and a sCO₂ power cycle. With its numerous advanced technologies, the Heliogen system is expected to unlock the production of low-cost, near 24/7 carbon-free electricity, highlighting the potential for concentrated solar technology to power industry and accelerate the clean energy transition in the United States and beyond.

About Heliogen

Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in heavy industry and powering a sustainable future. The company’s AI-enabled, modular concentrated solar technology aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, or green hydrogen fuel at scale – for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996. For more information about Heliogen, please visit heliogen.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical in nature, including the words “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding our expectations for revenue recognition, development of the sCO2 heat exchanger and production and delivery of the power block. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our financial and business performance, including risk of uncertainty in our financial projections and business metrics and any underlying assumptions thereunder; (ii) our ability to execute our business model, including market acceptance of our planned products and services and achieving sufficient production volumes at acceptable quality levels and prices; (iii) our ability to access sources of capital to finance operations, growth and future capital requirements; (iv) our ability to maintain and enhance our products and brand, and to attract and retain customers; (v) our ability to scale in a cost-effective manner; (vi) changes in applicable laws or regulations; (vii) developments and projections relating to our competitors and industry; (viii) the ongoing impacts of the COVID-19 pandemic and the potential impacts of Russia’s invasion of Ukraine on our business; (ix) our ability to protect our intellectual property and (x) our ability to find and retain critical employee talent and key personnel. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section in our Annual Report on Form 10-K filed for the annual period ended December 31, 2021 and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Heliogen assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Heliogen Media Contact:
Cory Ziskind
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Heliogen Investor Contact:
Louis Baltimore
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ST. LOUIS--(BUSINESS WIRE)--Compass Group Equity Partners, a St. Louis-based private equity firm, announced the closing of Compass Group Fund II at its hard cap of $255 million, exceeding an original target of $200 million. The firm secured commitments from a broad array of high-quality limited partners, including university endowments, family offices, pension funds, insurance companies, funds of funds and other institutional and high-net-worth investors through a significantly oversubscribed fundraising process that took just over six months to complete.

“We are honored by the investor confidence in our strategy and track record, resulting in an outcome that surpassed our projections for both timing and value,” said John Huhn, Compass Group Managing Partner. “While this is our first pooled fund, we chose the name Fund II to reflect a continuation of the same thesis-driven approach we’ve successfully deployed for more than seven years under an independent sponsor model. Since 2015, we invested more than $200 million in eight portfolio companies and over 100 add-on acquisitions and completed three exits at returns exceeding expectations. Our mission remains the same – to help lower middle-market companies grow and succeed – and we look forward to continuing to advance the Compass Group strategy with Fund II.”

Compass Group implements a top-down thematic investment approach in the lower middle market by identifying and extensively researching sub-sectors with strong macro trends within the niche manufacturing & distribution and business & consumer services sectors. Compass seeks to partner with target companies with the following attributes:

• Historically successful entrepreneur and family-owned companies that have reached an inflection point for growth, want continued participation and partnership in the business and where the Fund would represent the first institutional capital;
• Mid-America “Between the Mountain Ranges” geographic focus, which tends to align well with Compass Group’s Midwestern presence and values; and
• Financial characteristics including EBITDA between $2 million and $12 million, enterprise values of $10 million to $100 million and strong margin and cash flow generation.

“We’ve already deployed capital on our first investment in Fund II, through the recent acquisition of KGM, a Tulsa-based value-added distributor of valves, meters and regulators serving utilities and municipalities,” said Chris Gibson, Compass Group Managing Director. “We’ve come out of the gate strong and look forward to partnering with additional high-quality companies to tap into opportunities for continued growth and value creation for our business partners, investors and employees.”

Aqueduct Capital Group served as the exclusive placement agent for fundraising. McGuireWoods and Maples Group provided legal counsel. E78 Fund Solutions will serve as the Fund’s administrator with BDO serving as the Fund’s independent auditor.

About Compass Group Equity Partners

Compass Group Equity Partners, founded in 2015, is a St. Louis-based private equity firm with a record of success in partnering with and building lower middle-market companies. By leveraging the Firm’s operational, financial and strategic expertise, Compass Group provides hands-on support and resources to aid management teams in exceeding historical performance and accelerating growth.

Katie Cason
314.384.1117
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The Project Will Increase Water Security and Stabilize Access to Electricity for the Developing Island Nation

VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #Carribean--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green Energy as a Service (EaaS) solutions, today announced that E-Finity Distributed Generation, Capstone's exclusive distributor for the Mid-Atlantic, Southeastern United States and the Caribbean, has secured an order for two Capstone C1000S microturbine systems for a government water authority in the Caribbean. The systems will provide emergency standby power to several pumping stations throughout the remote island community. The 2 megawatt (MW) system is scheduled to be commissioned towards the end of calendar year 2022.

"Delivering clean, reliable, low-cost power to the Caribbean is a fundamental priority for Capstone and our partner E-Finity right now," said Darren Jamison, President and Chief Executive Officer. "The high cost of power, low grid reliability, and the desire to be green, make the Caribbean a growing market for our innovative products and services," added Darren Jamison, Chief Executive Officer of Capstone Green Energy.

Fueled by natural gas, the microturbines will operate in stand-alone mode, providing critical power to the pumping station. The station will have the ability to automatically switch between the utility grid and microturbines for power generation. This will help the Authority run the microturbines during grid outages or weather events and also peak shave to save money on utility costs.

Capstone's high efficiency, low-emission microturbines were selected over competing technologies in part because of their superior performance and ability to lower operational costs and increase resiliency. In addition, the microturbines require no oil or lubricants to operate; this translates to higher equipment availability and longer maintenance intervals and removes the possibility of contamination to the island's water supply.

"The microturbines are great options for critical power infrastructure sites. Only having one moving part allows for high uptime along with the inherent built-in redundancy of the C1000S, ensures that the pumping station will have clean, reliable power 100% of the time,” said Jeff Beiter, President, E-Finity Distributed Generation.

About Capstone Green Energy

Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it.. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three full fiscal years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.

For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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EV Readiness Program will help communities prepare for EV implementation, compete for state & federal funding

CHICAGO--(BUSINESS WIRE)--ComEd today joined the Metropolitan Mayors Caucus (Caucus) to announce a new initiative to help communities across northern Illinois prepare to meet growing demand for electric vehicle (EV) charging infrastructure. Fueled by a $225,000 commitment from ComEd, the EV Readiness Program will remove barriers to EV adoption by guiding local governments to enact policies and practices that can accelerate safe and effective transportation electrification across the region.

The EV Readiness Program will provide a broad range of support to communities as they develop and implement programs to promote EVs. Additionally, this program is designed to assist communities who may eventually seek state and federal funds earmarked for the development of EV charging infrastructure. These funds are set to be released later this year as part of a $5 billion investment authorized by Congress to help states expand EV charging infrastructure and accelerate the adoption of EV technology. Federal funding will play a key role in helping advance Gov. Pritzker’s plan to put 1 million EVs on the road by 2030.

“As communities prepare to implement new clean energy technologies, ComEd stands ready to assist them to accelerate decarbonization and improve air quality for all residents,” said ComEd CEO Gil C. Quiniones. “We are thrilled to partner with the Metropolitan Mayors Caucus to deliver the EV Readiness Program, which will help our partners across the region advance the goals of the new clean energy law, CEJA, and help to create cleaner and safer communities for the future.”

Local governments will receive support on how to remove barriers to adoption, facilitate charging infrastructure, and expand markets for EVs. Municipalities and counties will earn designation as an EV Ready Community based on actions taken in several categories to influence EV adoption and deployment of EV charging infrastructure – including:

• Commit to EV Readiness
• Zoning and Planning
• Permitting
• Inspection and Safety
• Parking and Access
• New Construction
• EV Owner Rights
• Municipal Fleets
• Utility Engagement
• Community Engagement
• Market Development and Finance

The Caucus is developing the program with guidance from the EV Readiness Advisory Committee, a diverse group of more than 50 local transportation and sustainability experts representing public and private sectors. ComEd’s investment in the EV Readiness Program will support program development, consulting and personnel costs to educate municipalities across the ComEd service region over the next two years.

“Working in collaboration with ComEd, we will support local governments across northern Illinois to build capacity and develop plans to successfully make the shift to electrified transportation,” said Kevin Burns, Mayor of the City of Geneva and Chairman of the Metropolitan Mayors Caucus Environment Committee and EV Readiness Advisory Committee. “We know that communities have been looking for guidance, and the EV Readiness Program will prepare them to move swiftly on new investments coming forward as a result of clean energy policy advancements made at the state and local levels.”

The EV Readiness Program builds on the ongoing collaborative efforts by ComEd and the Caucus to support communities with integrating new clean energy technology. This includes a recently developed EV toolkit, and competitive grant funding opportunities to accelerate EV infrastructure adoption. Through the Powering Communities grants initiative, ComEd and the Caucus have supported over $1 million in public safety and electrification projects across the Chicago area, which has unlocked matching funds for these communities to help accelerate their EV growth.

“Mount Prospect received two Powering Safe Communities grants to install level two ChargePoint electric vehicle charging stations located in our downtown for use by residents and visitors at Village Hall, Mount Prospect Public Library, restaurants, and local businesses,” said Village of Mount Prospect Mayor Paul Hoefert. “The support we received from ComEd and the Metropolitan Mayors Caucus has been critical for bringing some of Mount Prospect’s first EV charging stations online to help residents adopt electric vehicle technology and reduce their greenhouse gas emissions.”

ComEd supports a menu of programs aimed at helping communities achieve the goals established by CEJA, the recently enacted clean energy legislation, which puts Illinois on a path to 40% renewable energy by 2030 and 50% by 2040 and net-zero emissions by 2050. CEJA aligns with ComEd’s own “Path to Clean” plan, which calls for 30 percent of its fleet to become clean by 2025, and 50 percent by 2030. CEJA also calls for 1 million EVs on the road by 2030. Currently, there are roughly 41,000 EVs registered with the Illinois Secretary of State’s office.

Communities interested in becoming EV Ready can submit an expression of interest now, and applications will be reviewed for the first cohort slated to begin this fall. The program is available for communities across ComEd’s service territory, including the 275 communities that comprise the Caucus’ membership. For more information on how to apply, please visit the Caucus’ website.

ComEd Media Relations
312-394-3500

Combining billing-grade analytics with personalized energy insights will accelerate adoption of the rates, technologies and programs required to achieve decarbonization goals

BOULDER, Colo. & MILPITAS, Calif.--(BUSINESS WIRE)--Uplight, the technology partner of energy providers transitioning to the clean energy ecosystem, and GridX, the leading enterprise rate platform provider to modern utilities and energy technology companies, today announced a partnership that will enable utilities to help energy customers better understand the bill impacts of their energy decisions and actions.

Time-of-use (TOU) and other complex rate plans are increasingly critical to managing the grid, achieving decarbonization goals and integrating distributed energy resources (DERs) like solar, storage and electric vehicles. However, there is a customer engagement barrier to wide-scale rates adoption. According to EIA data, while TOU rates are available to 62% of U.S. residential customers, only 7.3% are enrolled in these plans. Furthermore, a recent report from the Smart Electric Consumer Collaborative suggested that fewer than half of residential customers even know what type of rate plan they are enrolled in.

The partnership between Uplight and GridX helps remove the confusion and complexity felt by consumers with billing-grade analytics that deliver detailed costs of changing to a new TOU rate plan, purchasing an electric vehicle, installing solar and more. GridX has the ability to accurately design, implement and measure emerging rate structures and deliver detailed cost data that increases consumer investment in sustainable technologies. Coupled with Uplight’s industry-leading engagement solutions and customer UX, the two companies will work together to increase adoption of the technologies, devices and programs required to decarbonize.

“The combined power of GridX and Uplight allows us to better serve utilities looking to accelerate customer adoption of TOU rates, ensure customers succeed on their new rates and increase the adoption of clean energy technologies,” said Chris Black, CEO, GridX. “We understand the challenge utilities face when calculating millions of data points to match each customer with the best rate and have eased that burden with powerful rate analytics that get cost information into the hands of energy customers faster.”

As the leading provider of customer engagement solutions, Uplight can integrate highly detailed cost information from GridX’s rates analytics solution into utilities’ customer communications to improve the insights they provide, thereby further influencing action at scale. Providing these insights to customers has proven extremely successful. Between 2017 to 2019, a large North American utility saw an almost 400% increase in customer logins and lower customer TOU opt-out rate while leveraging GridX’s enterprise rate engine to provide customers financial insights into bill impacts of offered rates.

“We know how powerful data is in not only building awareness of rate plans and sustainable technologies, but empowering customers to make changes with the confidence that their smart energy habits will result in lower bills and meaningful steps toward decarbonization,” said Donald McPhail, VP of Product at Uplight. “Together, we are helping utilities realize less strain on the grid, more satisfied customers and ultimately sustained adoption of behaviors that lead to load shifting and decarbonization.”

Uplight and GridX will be jointly presenting a session on how better rate management can transform the grid at CS Week on Wednesday, May 4 at 10:45 a.m. Visit Uplight at booth #509 and GridX at booth #819.

About Uplight
Uplight is the technology partner for energy providers and the clean energy ecosystem. Uplight’s software solutions connect energy customers to the decarbonization goals of power providers while helping customers save energy and lower costs, creating a more sustainable future for all. Using the industry’s only comprehensive customer-centric technology suite and critical energy expertise across disciplines, Uplight is streaming the complex transition to the clean energy ecosystem for more than 80 electric gas utilities around the world. By empowering energy providers to achieve critical outcomes through data-driven customer experiences, delivering control at the grid edge, creating new revenue streams and optimizing existing load and assets, Uplight shares a mission with clients to make energy more sustainable for every community. Uplight is a certified B Corporation. To learn more, visit us at www.uplight.com, find us on Twitter @Uplight or on LinkedIn at Linkedin.com/company/uplightenergy.

About GridX, Inc.
GridX, Inc. partners with utilities and energy suppliers to transform their businesses and accelerate the clean energy transition. The company’s Enterprise Rate Platform helps these organizations to develop new products and business models to achieve their clean energy goals; quickly operationalize new offerings in their billing and settlement processes; and better engage with their customers for broader program adoption. GridX’s platform is used by leading utilities, retail energy suppliers and energy ecosystem OEMs to serve more than 19 million homes and businesses. For more information, visit www.gridx.com.

Liam Sullivan
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Brad Langley
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•       Launches new software, hardware and services innovations to enable industry to accelerate sustainability commitments
•       Reduces electrical energy consumption by 50% in its motor management suite
•       Expands its portfolio of SF6-free green and digital MV switchgear with GM AirSeT™
•       Continues to advance customer business resilience and extends preventive condition-based maintenance service plan to variable speed drives

BOSTON--(BUSINESS WIRE)--Schneider Electric, the leader in the digital transformation of energy management and automation, today unveiled several innovations at Hannover Messe 2022 with a single aim: accelerate the path to net zero CO₂ emissions for customers and partners.

“Industry continues to undergo a massive period of change,” said Barbara Frei, Executive Vice President, Industrial Automation at Schneider Electric. “Our vision, however, remains constant. We want to create an efficient, open and sustainable industrial world able to adapt to changes in demand, supply chains, technology, and regulations. Digital solutions are by far the fastest way to decarbonize and future-proof operations for employees. Our technology, combined with AVEVA insights, enables enterprises to reach the next industrial generation with unseen levels of efficiency, resiliency and sustainability. With every piece of technology, we aim to empower our customers and their workforce to achieve their sustainability targets.”

Innovations of the Future

Schneider Electric is proud to unveil a range of offers and partnerships, enabling the next generation sustainable industrial world:

• EcoStruxure Automation Expert 22.0 is the next version of the world’s first software-centric industrial automation system, further enhancing its sustainability capabilities and flexibility in consumer-packaged goods, logistics, water and wastewater operations.
• EcoStruxure Machine Expert Twin is a scalable digital twin software solution designed to manage the entire machine lifecycle. The software enables original equipment manufacturers (OEMs) to create digital models or real machines to improve efficiency and sustainability, reduce commissioning time, time to market as well as increasing quality costs.
• An upgrade to the motor management solution, delivers a holistic approach to asset management with an advanced digital management approach. It unifies energy and automation management systems, providing performance optimization (50% less motor downtime), improved return on investments and efficiency across an entire plant (50% less electrical energy consumed).
• EcoStruxure Service Plan now available for variable speed drives. Harnessing the combined power of our EcoStruxure platform with both remote and on-site expertise, the service provides condition-based maintenance that enables dynamic scheduling for the maintenance of variable speed drives. By remotely monitoring the health of the drives, the solution can anticipate issues and propose corrective actions that can be implemented on-line or on-site with our Field Services Team, complemented by asset health reports and annual consulting. This allows customers to get the right maintenance at the right time, meaning, significantly reducing unscheduled and unnecessary downtime, optimizing site operations, and improving safety for operators and equipment.
• Schneider Electric showcases GM AirSeT™, the latest addition to its growing family of SF6-free medium voltage switchgear. The latest green and digital solution powered by pure air enables industries and utilities to reduce environmental impact and optimize maintenance and operations.
• Strengthening Partnerships for Sustainability by empowering partners to look towards supporting and growing with Schneider’s partner ecosystem. The new program includes comprehensive education and training, a simplified product portfolio, an open and collaborative support ecosystem and digital knowledge and expertise. Complementing the Partnerships for Sustainability program are new products in its TransferPacT, PowerPacT and TeSys Giga ranges.
• Stratus, Schneider Electric and Avnet Integrated are bringing the capabilities of the data center to the network edge. The combination of EcoStruxure™ Micro Data Centre with Stratus® ftServer® enables fast deployment of zero-touch Edge Computing data centres ready for the challenges of an industrial setting.
• The integration of ETAP’s digital twin solutions with EcoStruxure Power Operation. The integration allows power system engineers to make more informed decisions, avoid potential operator mistakes and plan future systems expansion, improving response times and contingency actions.
• Schneider Electric introduces the new 24V DC Easy UPS. Created for commercial and industrial environments where power disruption risks business output, the new Easy-UPS minimizes downtime and protects equipment resulting in reduced machine maintenance, and improved control over industrial infrastructure.

“We are proud to be demonstrating the latest collaborations between Schneider Electric and AVEVA at Hannover Messe. Visitors will have the opportunity to discover first-hand how our new concept of Advanced Operations Control can empower industrial businesses. Data-led innovation to accelerate industrial digital transformation is how we contribute to a more sustainable future with Schneider Electric.” said Caspar Herzberg, Chief Revenue Officer, AVEVA.

Schneider Electric key Hannover Messe sessions

Through keynote presentations, innovation sessions, panel discussions, and interviews with Schneider Electric spokespeople, customers, partners including AVEVA, and industry experts, the company will celebrate the agility and adaptation that has occurred over the past year.

Monday, 30 May

[3-4 PM CEST] Press conference
Schneider Electric and AVEVA executives discuss the company’s strategic thinking and Industries of the Future vision.

Tuesday, 31 May

[9:30-10:30 AM CEST] Press breakfast
An opportunity to find out about Schneider Electric and AVEVA’s latest solutions for industrial resilience, agility and sustainability.

30 May – June 2: Innovation Talks

Innovation Talk 1: Our resilient and sustainable future
Speakers: Niels Wessel, Offer Manager, Industrial Automation, DACH
Karim Helal, Global Innovation Ambassador

The need for next-generation smart manufacturing is urgent. Industrial enterprises need more innovation, automation, eco-efficiency, and agility at all levels – not only for the sustainability of the planet but also for the sustainability of the businesses themselves.

Join this Innovation Talk to learn:

• How to increase your operational sustainability by digitally integrating energy and automation systems
• Ways to grow responsible profitability with advanced analytics and industrial software
• When to tap into domain experts for safety, efficiency, and sustainability
• The cybersecurity topics you need to know about right now
• How to leverage an ecosystem of trusted partners to reach and surpass your operational goals

Innovation Talk 2: Next generation industrial automation
Speakers: Leif Juergensen, System Marketing, Next Gen Automation Incubator
Marissa Mueller, Global Innovation Ambassador

The way goods and services are procured, produced, delivered, and consumed is increasingly driven by information technology. More work is done remotely. More interactions are digital. And more operations are automated.

Thriving as a modern industrial operation requires a digital way of thinking, where software and data play starring roles.

Join this talk to learn how to make your operation sustainable, agile, and resilient through secure software-centric industrial automation.

Innovation Session 3: Electricity 4.0 – Our Fastest Route to Net Zero
Speakers: Gerold Goeldner, Head of Marketing Sustainability, Europe Operations and Cordelia THIELITZ, VP Strategy, Europe Operations
Liani Toro Caballero, Global Innovation Ambassador

Over 80% of CO2 emissions are energy-related and over 60% of energy is wasted. To tackle climate change, we need to make energy green and smart. The solution is a world that is more electric and more digital. We call it Electricity 4.0.

In this Innovation Talk, you will:

• Discover how electricity makes energy green, as it is the most efficient energy and the best vector for decarbonization
• See how digital innovation makes energy smart, making the invisible visible to eliminate waste
• Learn how the four industrial revolutions have evolved in parallel with electrical revolutions
• See how we are helping customers build the New Electric World everywhere and accelerating their journey to net zero

Ahead of the Hannover Messe 2022 event, Schneider Electric has been awarded with the Gold 2022 Hermes Creative Award by the Association of Marketing Communication Professionals (AMCP) in the Event Marketing category, for the “Discover Industries of the Future at Hannover Messe 2022” campaign.

Get your free promo code via this link to join us at Hannover Messe 2022 (30 May – 2 June), an event exploring what industry leaders, including Schneider Electric, are doing to drive the Industries of the Future forward.

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

www.se.com

Discover Life Is On Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog

Discover the newest perspectives shaping sustainability, electricity 4.0, and next generation automation on Schneider Electric Insights

Additional resource:

• Follow Industries of the Future on LinkedIn
• EcoStruxure Automation Expert

Hashtags: #IndustriesOfTheFuture #NextGenAutomation #IndustrialAutomation #UniversalAutomation #EcoStruxure

Schneider Electric Media Relations – Thomas Eck, (919) 266-8623, This email address is being protected from spambots. You need JavaScript enabled to view it.

SEATTLE--(BUSINESS WIRE)--Expeditors International of Washington, Inc. (NASDAQ:EXPD) today announced first quarter 2022 financial results including the following highlights compared to the same quarter of 2021:

• Diluted Net Earnings Attributable to Shareholders per share (EPS¹) increased 23% to $2.05
• Net Earnings Attributable to Shareholders increased 21% to $346 million
• Operating Income increased 20% to $462 million
• Revenues increased 46% to $4.7 billion
• Airfreight tonnage volume and ocean container volume decreased 18% and 3%, respectively

“Given all that we have been through following the February cyber-attack, I have never been more proud of our employees’ ability to adapt – nor have I ever been more grateful to our loyal customers, carriers, and service providers for their unprecedented level of support while we worked through this crisis,” said Jeffrey S. Musser, President and Chief Executive Officer. “Our core systems are operational, thanks to the around-the-clock efforts of our entire organization. Our people performed magnificently and we are proud of the financial results, especially considering the additional expenses and reduced volumes as a result of the cyber-attack. We are extremely appreciative that the vast majority of our customers chose to keep their business with us while we worked to resolve the impact of the cyber-attack.

“All of our products suffered as a result of the cyber-attack, particularly during the first three weeks after the attack, as we quickly adjusted to a new and unfamiliar operating environment in which our core systems were taken offline to protect our network. Nevertheless, our Air and Ocean businesses both outperformed strong year-ago results, as rates remained elevated due to ongoing supply chain bottlenecks and capacity constraints, while tonnage and volumes declined principally as a result of the cyber-attack. Air freight continues to be impacted by the extreme imbalance between capacity and demand, particularly with exports out of Asia. While the cyber-attack constrained our volumes in air during the quarter, we continued to process shipments and serve our customers, particularly as shippers turned to air in an effort to get around the severe disruptions on the seas. Ocean volumes, in turn, continued to be hampered by port congestion due to labor and equipment shortages, which disrupted sailing schedules and kept rates well above historical norms. None of the issues in the air, on the water, or at the ports have appreciably improved or are likely to in 2022.”

Christopher J. McClincy, Senior Vice President and Chief Information Officer, commented further on the cyber-attack: “As soon as we learned of the attack, we quickly shut down most of our connectivity, operating and accounting systems worldwide to protect the health of our global systems environment, and we initiated our cybersecurity incident response plan. Over the subsequent days and weeks, our response teams, in collaboration with external cybersecurity experts and law enforcement, remediated the attack. The systems impact related to the cyber-attack limited our ability to arrange shipments or manage customs and distribution activities, or to perform certain accounting functions, for approximately three weeks after the attack. While we continue to navigate residual effects and incorporate learnings from the cyber-attack, our core systems are being utilized to drive our services. I join Jeff in thanking all of our employees and partners for their exceptional performance during the most trying episode in our company’s history.”

Bradley S. Powell, Senior Vice President and Chief Financial Officer, added, “Despite our temporary systems shutdown, our employees were able to find alternative solutions to keep freight moving, although on a limited basis, until we were able to restore our systems. While we believe the bulk of the expenses related to the cyber-attack are now behind us, we expect to continue to incur additional expenses related to further system enhancements. Supply and demand in both air and ocean and are likely to remain out of balance for the foreseeable future, but we would continue to caution that should demand and rates return to pre-pandemic levels – whenever that may be – our revenues, expenses, and operating income are likely to decline from the all-time highs that we experienced in 2021.”

Expeditors is a global logistics company headquartered in Seattle, Washington. The Company employs trained professionals in 176 district offices and numerous branch locations located on six continents linked into a seamless worldwide network through an integrated information management system. Services include the consolidation or forwarding of air and ocean freight, customs brokerage, vendor consolidation, cargo insurance, time-definite transportation, order management, warehousing and distribution and customized logistics solutions.

Financial Impact of the Cyber-Attack

In the first quarter the Company incurred, as a result of our inability to timely process and move shipments through ports, approximately $40 million in incremental demurrage charges, where the Company has direct liability for this obligation. These costs are recorded in customs brokerage and other services expenses.

Additionally, in the first quarter, the Company incurred investigation, recovery, and remediation expenses, including costs to recover its operational and accounting systems and to enhance cybersecurity protections. These costs are primarily comprised of various consulting services including cybersecurity experts, outside legal advisors, and other IT professional expenses. The Company also recorded estimated liabilities for potential shipment-related claims. Total amounts recorded for the items above were approximately $20 million and are reported in other operating expenses. The Company does not expect to incur significant capital expenditures as a result of the cyber-attack.

The Company may incur additional expenses which could include third-party expenses, incremental information services costs, legal fees, or indemnities to customers or business partners. When the Company’s operating systems were down, many customers worked with other providers to meet their logistics needs, resulting in lower shipment volumes in the first quarter for which the financial impact on revenues and operating income cannot be quantified. Such costs and the ongoing impacts from the down time caused by the cyber-attack could have a further material adverse impact on the Company’s business, revenues, expenses, results of operations, cash flows and reputation. The Company is unable to estimate the ultimate direct and indirect financial impacts of this cyber-attack.

During the three months ended March 31, 2022, we did not repurchase any shares of common stock compared to the three months ended March 31, 2021, when we repurchased 0.9 million shares of common stock at an average price of $92.98 per share.

Investors may submit written questions via e-mail to: This email address is being protected from spambots. You need JavaScript enabled to view it.. Questions received by the end of business on May 6, 2022 will be considered in management's 8-K “Responses to Selected Questions.”

Disclaimer on Forward-Looking Statements:

Certain statements contained in this news release are “forward-looking statements,” based on management’s views with respect to future events and underlying assumptions that involve risks and uncertainties. These forward-looking statements include statements regarding the financial and operational impact of the cyber-attack; the future stabilization of supply/demand imbalance and rate volatility; the continued unsettled operating environment due to continued scarce air and ocean capacity; elevated air and ocean pricing and an increase in demand for such services; port congestion; equipment imbalances; labor shortages; insufficient warehouse and pier space; trade disruptions; rising fuels costs; and the uneven lifting of the COVID-19 pandemic restrictions around the world. Future financial performance could differ materially because of factors such as: our ability to leverage the strength of our carrier relationships to secure space; the strength of our non-asset-based operating model; our expectation that the supply/demand imbalance and rate volatility will continue in 2022, and will stabilize over time; our ability to re-open our offices for return-to-work; our ability to continue to enhance our productivity; our expectation that the current unprecedented operating conditions will not persist long-term; our ability to invest in our strategic efforts to explore new areas for profitable growth; our ability to avoid another material cyber-attack; and our ability to remain a strong, healthy, unified and resilient organization. The ongoing impact of the COVID-19 pandemic could have the effect of heightening many of the other risks described in Item 1A of our Annual Report on Form 10-K, including, without limitation, those related to the success of our strategy and desire to maintain historical unitary profitability, our ability to attract and retain customers, our ability to manage costs, interruptions to our information technology systems, the ability of third-party providers to perform and potential litigation as updated by our reports on Form 10-Q, filed with the Securities and Exchange Commission. These and other factors are discussed in the Company’s regulatory filings with the Securities and Exchange Commission, including those in “Item 1A. Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The forward-looking statements contained in this news release speak only as of this date and the Company does not assume any obligation to update them except as required by law.

Jeffrey S. Musser
President and Chief Executive Officer
(206) 674-3433

Bradley S. Powell
Senior Vice President and Chief Financial Officer
(206) 674-3412

Geoffrey Buscher
Director - Investor Relations
(206) 892-4510

RANCHO SANTA MARGARITA, Calif.--(BUSINESS WIRE)--Santa Margarita Water District (District) provides safe, reliable drinking water, recycled water and wastewater services to over 200,000 residents in nine unique communities in California. The District is the second largest retail water agency in Orange County, by area, and third largest by customers served.

Scale Microgrid Solutions (Scale) is working with the District to install, finance, and operate 12MWh of energy storage systems at their water and wastewater treatment facilities. The projects are designed to increase the resilience of the community’s water supplies while also reducing costs. The facilities are in CPUC designated “High Fire Threat Territories'' and are prone to utility power shut offs due to possible or actual wildfires. The projects will provide 8+ hours of clean backup power in the event of such an outage, eliminating the need for polluting diesel fuel. Another benefit of the projects comes from the reduction in the District’s energy costs, which have been rising quickly in recent years.

At the Chiquita Water Reclamation Plant, the energy storage system will pair with the site’s existing 1MW of solar PV to store clean energy generated during the day and discharge in the evenings when energy prices are high and grid power is predominantly provided by natural gas power plants.

The project is utilizing the state’s Self Generation Incentive Program (SGIP) to offset the initial cost of the batteries. Scale will own and operate the batteries for the District, prioritizing savings and carbon reduction during normal operations, and fully charging before announced power shutoff events to provide clean resiliency to the plants. The systems will also enroll in utility demand response programs and contribute to the overall stability of the grid during peak periods.

“The District is looking forward to working with Scale on the implementation phase of this project. We feel that the end product will benefit our customers through increased resiliency coupled with the ability to reduce energy costs, all while lowering our carbon footprint,” says Don Bunts, Deputy General Manager at Santa Margarita Water District.

“I cannot think of anything more important than access to reliable water, especially in high fire threat areas,'' says Ryan Goodman, CEO and co-founder of Scale Microgrid Solutions. “This innovative project will provide Santa Margarita Water District with the energy independence to prepare for future environmental and economic challenges.”

About Scale Microgrid Solutions: Scale is a vertically integrated distributed energy platform, with a core focus of designing, building, financing, owning and operating cutting-edge distributed energy assets that offer cheaper, cleaner, and more resilient power. Their team of energy and financing experts accelerate growth in distributed energy projects by providing financing to technology providers, energy developers, and OEMs, while also directly helping large energy-consuming customers ​to take charge of their energy infrastructure and future-proof their businesses.

Media:
Nicole Green
Director, Marketing and Branding
Scale Microgrid Solutions
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SHREVEPORT, La.--(BUSINESS WIRE)--VooDoo Energy Services (“VooDoo” or the “Company”) today announced its recapitalization by an affiliate of Voyager Interests, a Houston private equity firm focused on the energy services and equipment sector. Headquartered in Shreveport, Louisiana, VooDoo is the largest specialty pumping service provider in the Haynesville Shale. Driven in part by its proximity to Gulf Coast LNG export facilities, natural gas production in the Haynesville is expected to materially increase over the next several years. The Company also provides its services to customers throughout Texas, New Mexico and Oklahoma.

VooDoo has 23 pumping units capable of providing services for applications such as “defensive/offset frac,” pumpdown, toe preparations, and acid treatments. The Company also has acid and fluid transports that complement its pumping business line.

Kyle Greemon, Founder and Chief Executive Officer of VooDoo said, “We are excited to partner with Voyager, which enables VooDoo to embark on a new phase of growth for the company, our employees and our customers. Voyager’s capital and industry expertise are just what we need to take our business to the next level.”

“Kyle, Randy and the team they have assembled have the operations experience, customer orientation and work ethic to execute at the highest level. Coupled with a unique market opportunity driven by a world that clearly needs a secure supply of clean natural gas and LNG, we believe VooDoo is positioned for tremendous success in the Haynesville and beyond,” stated David Watson, Managing Partner of Voyager.

ABOUT VOODOO

Headquartered in Shreveport, Louisiana, VooDoo is the largest specialty pumping business in the Haynesville Shale, providing services for applications such as defensive/offset frac, pumpdown, toe preparations, and acid treatments. Learn more online at www.voodooenergyservices.com.

ABOUT VOYAGER

Voyager, based in Houston, Texas, is a specialized private equity firm that is committed to investment in lower middle market energy services and equipment companies. Voyager’s limited partner base is comprised primarily of experienced energy entrepreneurs and family offices, not endowments and institutional money management firms like many private equity firms. The firm’s industry focus and source of capital provide significant flexibility in structuring a transaction. Learn more online at www.voyagerinterests.com.

McCray Fletcher
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DUBLIN--(BUSINESS WIRE)--The "India Prime Power Diesel Genset Market Report: By Power Rating, Application - Industry Growth and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

India's prime power diesel genset market size is predicted to grow to $356.3 million by 2030 from an estimated $143.6 million in 2021, at a 10.6% CAGR.

The highest number of generators are in commercial spaces, because offices, hotels, hospitals, shopping malls, metro and railway stations, and other such places need a constant power supply. Moreover, the growth in the number of telecom towers and data centers is propelling the installation of these systems in the commercial sector.

In this regard, a major driver for genset sales in the country is the vast gap between power demand and supply. With a population touching 1.4 billion, India is not always able to meet the demand for electricity. As a result, even cities witness substantial power cuts, while many people in rural areas still do not have a grid connection. Therefore, with the rapid urbanization and industrialization, the demand for prime power diesel gensets is rising in the country.

The COVID-19 pandemic put a severe dent in generator sales in the country as the nationwide lockdowns drove down the demand for electricity from 190198 million units in 2019 to 1275534 million units in 2020, as per the Ministry of Power. This also brought down the demand-supply gap from 6566 million units to 4871 million units from 2019 to 2020. This was because of the shutdown of most manufacturing plants and commercial centers and suspension of metro, air travel, and train services.

Therefore, major Indian prime power diesel genset market players, including Kirloskar Oil Engines Limited, Mahindra Powerol Ltd., Ashok Leyland Limited, VE Commercial Vehicles Limited, Escorts Limited, Cummins India Ltd., Caterpillar Inc., Cooper Corporation Pvt. Ltd., Greaves Cotton Limited, Kohler Power India Ltd., and Tractors and Farm Equipment Limited, stepped up product launch and facility expansion activities in 2021, to make up for lost revenue.

Key Findings of India Prime Power Diesel Genset Market Report

• Another key reason for the growth of the Indian prime power diesel genset market is the higher prices of petrol and erratic gas supply, which make diesel the preferred fuel for generators.
• In the coming years, the sale of gensets that offer a power output of 5-75 kVA will rise the fastest in India as these variants are preferred for commercial spaces.
• In this regard, the biggest driver for the market is infrastructure development, for which the government has allocated INR 13,750 crore in the 2021 Union Budget.
• As a result, market players are launching newer variants and expanding their manufacturing capacities to meet the surging demand for prime and backup power via gensets.
• However, as these systems release GHGs, the usage of gensets with two small engines instead of one large engine is picking pace. As per company claims, twin-power generators release 40% lesser CO2 than conventional gensets.
• Uttar Pradesh accounts for the highest Indian prime power diesel genset market sales volume on account of being the most-populated state in the country. Additionally, commercial infrastructure, including telecom networks, is being rapidly enhanced here, which is driving genset sales.

Market Dynamics

Trends

• Rising Production of Twin-Power Generators

Drivers

• Rising Infrastructure Investment in Different Sectors
• High-Power Deficits
• Impact Analysis of Drivers on Market Forecast

Restraints

• High Capital, Installation, and Maintenance Costs
• Use of Green Technology
• Impact Analysis of Restraints on Market Forecast

Impact of Covid-19

Porter's Five Forces Analysis

Company Profiles

• Kirloskar Oil Engines Limited
• Ashok Leyland Limited
• Greaves Cotton Limited
• Ve Commercial Vehicles Limited
• Mahindra Powerol Ltd.
• Cummins India Ltd.
• Caterpillar Inc.
• Cooper Corporation Pvt. Ltd.
• Kohler Power India Ltd.
• Tractors and Farm Equipment Limited
• Escorts Limited

For more information about this report visit https://www.researchandmarkets.com/r/spzw4w

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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BELOIT, Wis.--(BUSINESS WIRE)--#CMO--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, is pleased to announce that Crystal Brent has been promoted to the position of Chief Marketing Officer. At FMD, Brent oversees all marketing and branding strategies and initiatives to ensure a smooth integration of new products and services as the company grows into a top-tier defense contractor.

Brent joined FMD as Vice President of Marketing in the fall of 2021 as the company was transforming into a single-source solutions provider and rapidly expanding. Within a short time, she swiftly consolidated FMD’s messaging platform and elevated its brand image, which was essential to repositioning FMD to reflect its position as a turnkey defense contractor. As the company expanded, she ensured the successful alignment of brand messages and positioning across FMD and its growing family of brands.

“Crystal joined FMD and immediately started implementing a brand image that defines us as a defense contractor of the first rank,” said FMD CEO George Whittier. “We know her strategies are having an impact because when we’re out with our customers people know about our broader range of products and services. It’s clear that marketing is essential to FMD’s future growth, and Crystal’s well-deserved promotion reinforces our commitment to making it a priority.”

Prior to FMD, Brent served as Chief Marketing Officer for the Canadian operations of hospital ship healthcare charity, Mercy Ships. Prior to that, Crystal spent the bulk of her career at Rolls-Royce where she served in various sales and marketing capacities in their aerospace, defense, and marine industries.

Please click HERE for a headshot of Brent.

About Fairbanks Morse Defense

Fairbanks Morse Defense (FMD) is the leading provider of the highest value equipment for naval defense customers. For more than 100 years, FMD has been a principal supplier of reliable power systems, parts, and aftermarket services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and the Canadian Coast Guard. Through its six strategically located service centers and a robust aftermarket team, FMD is able to provide round-the-clock field service and parts support. Additionally, its suite of full lifecycle solutions extends asset life and enables it to run more efficiently. With a growing portfolio of companies under the FMD brand, the company continues to integrate these mission-critical products and innovative service solutions to power marine defense. FMD, a portfolio company of Arcline Investment Management, is based in Beloit, Wisconsin.

Learn more about FMD by visiting www.FairbanksMorseDefense.com.

Mercom Capital Group
Michelle Hargis
1.512.215.4452
www.mercomcapital.com
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LONDON--(BUSINESS WIRE)--Giga Carbon Neutrality Inc (“GCN”), the intelligent commercial mobility and clean energy technology company, today announced that it has signed a Letter of Intent (LOI) with a major stock exchange listed Special Purpose Acquisition Company (SPAC) to work toward a Definitive Agreement for a merger of both companies.

If the discussions are successful, GCN will merge its new energy mobility solutions – both battery and hydrogen powered logistics vehicles, specialist vehicles and buses – and mobile and stationary energy storage capabilities with the SPAC forming a new publicly traded company.

Richard Martin, CEO of Giga Carbon Neutrality, commented:

This Letter of Intent with our potential SPAC merger partner ushers in an important new phase in the GCN growth story. We are committed to expeditiously bring the negotiations with our future partners to a successful conclusion.

About Giga Carbon Neutrality (www.gigacarbonneutrality.com)

Giga Carbon Neutrality is a clean energy mobility and technology company that makes running clean, reliable vehicle fleets easy for industrial and commercial transportation companies. GCN'S portfolio includes battery-electric and hydrogen powered vehicles and marine vessels and clean energy storage, charging and refueling infrastructure support.

Giga Carbon Neutrality, Inc, a limited liability company incorporated in British Columbia, Canada and having its registered address at 2270-8788 McKim Way, Richmond, BC. V6X 4E2, Canada.

Giga Carbon Neutrality
Richard Martin
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AspenTech Helps Enable European Refinery’s Progressive Approach to Reduce Emissions and Meet Sustainability Targets

BEDFORD, Mass.--(BUSINESS WIRE)--Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in asset optimization software, today announced that it has expanded its 12 year partnership with St1 Refinery AB, part of St1 Nordic Oy Group. The refinery, situated in Gothenburg, Sweden, is deploying AspenTech solutions to provide a vertically integrated set of production optimization solutions - from operational planning to real time control of critical equipment. This will allow an increase in operating margins while improving energy efficiency and thereby reducing CO₂ emissions.

St1 produces and invests in sustainable energy production in various areas, together with investments in energy transition of its traditional refinery. It has a long term advanced renewable fuels strategy which includes biorefineries, one is currently under construction at the Gothenburg refinery. A long-term user of AspenTech's Planning & Scheduling solutions, St1 recently migrated to Aspen Unified PIMS and have now agreed to extend the partnership with the deployment of AspenTech’s advanced process control software Aspen DMC3^™ and its dynamic optimization software, Aspen GDOT™, across the Gothenburg site.

Miika Eerola, Managing Director, St1 Refinery commented: “It is important that our refinery continues modernizing to maintain a positive long-term future and provide opportunity for the next generation. Our collaboration with AspenTech enables improvements across many critical elements in our renewables strategy, including equipment efficiencies resulting in less energy; hydrogen optimization including future biogas feedstock; and refinery optimization to maximize benefits with fuels production.”

“St1 Refinery’s investment in advanced renewable fuels and biorefining puts them at the forefront of an industry driving a more sustainable future. We are delighted to be a key part of their strategy to meet emission targets, building on our partnership established over a decade ago,” said John Hague, Executive Vice President of Operations at Aspen Technology.

With a combination of AspenTech’s production optimization and performance engineering solutions in place, St1 Refinery is equipped with data and solutions to make quicker, more accurate decisions that help them achieve their profitability goals while moving them significantly along the path on their energy transition journey.

St1 Nordic Oy is an energy group whose vision is to be the leading producer and seller of CO2-aware energy. The Group researches and develops economically viable, environmentally sustainable energy solutions. St1 focuses on fuels marketing activities, oil refining and renewable energy solutions such as waste-based advanced biofuels and industrial wind power. The Group has 1290 St1 and Shell branded retail stations and gas filling points in Finland, Sweden and Norway. Headquartered in Helsinki, St1 employs currently more than 1200 people. www.st1.com

About Aspen Technology
Aspen Technology (AspenTech) is a global leader in asset optimization software. Its solutions address complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with artificial intelligence. Its purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets safer, greener, longer and faster. Visit AspenTech.com to find out more.

© 2022 Aspen Technology, Inc. AspenTech, the Aspen leaf logo, Aspen DMC3, Aspen GDOT, and Aspen Unified PIMS are trademarks of Aspen Technology, Inc. All rights reserved.

Kate Jones
AspenTech
+44 (118) 92 26510
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Miika Eerola
Managing Director
St1 Refinery AB
+46 31 744 6300
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Energy Transfer LNG Export to Supply LNG to SK Gas Trading LLC from its Lake Charles LNG Export Facility Under 18-Year Agreement

DALLAS--(BUSINESS WIRE)--Energy Transfer LP (NYSE: ET) today announced the execution of a long-term Sale and Purchase Agreement (SPA) with SK Gas Trading LLC (SK Gas) for the supply of 0.4 million tonnes per annum (mtpa) of LNG from Energy Transfer’s Lake Charles LNG export facility.

Under the SPA, Energy Transfer LNG Export, LLC (Energy Transfer LNG) will supply LNG to SK Gas on a free-on-board (FOB) basis. The purchase price is indexed to the Henry Hub benchmark plus a fixed liquefaction charge. The SPA is for a term of 18 years, and first deliveries are expected to commence as early as 2026. The SPA will become fully effective upon the satisfaction of the conditions precedent, including Energy Transfer LNG taking final investment decision (FID).

This is Energy Transfer’s fourth SPA announced in the last four weeks, bringing the total amount of LNG contracted from its Lake Charles LNG export facility to 5.1 mtpa.

“We are excited to announce SK Gas as our first Korean offtake customer,” said Tom Mason, President of Energy Transfer LNG. “We look forward to a long-term relationship with SK Gas as it grows its domestic and international LNG business. We are also pleased with the level of interest in our Lake Charles LNG export project from international customers who need LNG supply and from domestic natural gas producers who will benefit from expanding U.S. exports of natural gas. These factors increase our confidence for taking FID by the end of this year.”

Energy Transfer is one of the largest and most diversified midstream energy companies in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer’s Lake Charles LNG export facility will be constructed on the existing brownfield regasification facility and will capitalize on four existing LNG storage tanks, two deep water berths and other LNG infrastructure. Lake Charles LNG will also benefit from its direct connection to Energy Transfer’s existing Trunkline pipeline system that in turn provides connections to multiple intrastate and interstate pipelines. These pipelines allow access to multiple natural gas producing basins, including the Haynesville, the Permian and the Marcellus Shale.

About Energy Transfer

Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC).

About SK Gas Trading LLC

SK Gas Trading LLC. is the US trading entity of SK Gas and has been exporting and trading LPG out of US since 2015. SK Gas is a leading provider of liquefied petroleum gas in Korea and is expanding its business to include LNG by constructing an LNG import terminal in Ulsan, Korea. Construction of this terminal is expected to be complete by the end of 2024 and, upon commercial operation, will supply LNG for power generation and industrial applications. SK Gas is an affiliate of SK Group, an international energy, chemicals and industrial conglomerate headquartered in Seoul, Korea.

Forward Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

The information contained in this press release is available on our website at energytransfer.com.

Investor Relations:
Bill Baerg
Brent Ratliff
Lyndsay Hannah
214-981-0795

Media Relations:
Vicki Granado
Lauren Atchley
214-840-5820
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GumboNet ESG Honored in Software Category for Setting New Standard for Transparency, Trust and Timeliness in ESG Reporting

HOUSTON--(BUSINESS WIRE)--#ESG--Data Gumbo, the industrial smart contract network company, today announced that GumboNet ESG has received an honorable mention in the software category of Fast Company’s 2022 World Changing Ideas Awards celebrating innovative initiatives and other creative endeavors that support the growth of positive innovation in the face of climate change and public health crises.

GumboNet ESG is the first and only automated smart contract for sustainability measurement, which ties a company’s quantifiable, real-time operational data to smart contracts to produce fast and trustworthy ESG reports. Powered and secured by Data Gumbo’s industrial smart contract network, GumboNet^™, GumboNet ESG sets a new bar for transparency to satisfy investors, regulators and other stakeholders’ desire for real-time verifiable environmental performance monitoring.

“We are changing the speed at which accurate environmental insights are available and guarantee accuracy, timeliness and repeatability in ESG reporting,” said Andrew Bruce, Founder and CEO, Data Gumbo. “GumboNet ESG reaches across commercial supply chains to generate a third-party record of truth stored on an immutable blockchain. We are honored that Fast Company has recognized our innovation as we usher in the age of automation and clarity in ESG reporting.”

Now in its sixth year, the World Changing Ideas Awards showcase 39 winners, 350 finalists, and more than 600 honorable mentions, honoring the products, concepts, companies, policies and designs that are driving change. A panel of eminent Fast Company editors and reporters selected winners and finalists from a pool of more than 2,997 entries across transportation, education, food, politics, technology, health, social justice, and more. The 2022 awards feature entries from across the globe, from Switzerland to Hong Kong to Australia.

“We are consistently inspired by the novelty and creativity that people are applying to solve some of our society's most pressing problems, from shelter to the climate crisis. Fast Company relishes its role in amplifying important, innovative work to address big challenges,” says David Lidsky, interim editor-in-chief of Fast Company. “Our journalists have identified some of the most ingenious initiatives to launch since the start of 2021, which we hope will both have a meaningful impact and lead others to join in being part of the solution.”

Fast Company’s Summer 2022 issue (on newsstands May 10, 2022) will showcase some of the world’s most inventive entrepreneurs and companies tackling global challenges. The list of Fast Company’s 2022 World Changing Ideas award winners is available at https://www.fastcompany.com/.

To learn more about GumboNet ESG, visit: https://www.datagumbo.com/gumbonet-esg.

About Data Gumbo

Data Gumbo is the smart contract company trusted by global industrial enterprises. The only network of enterprises and their customers, suppliers and vendors that successfully incorporates real-time sensor level and field data to validate transactions, GumboNet™ reduces costs by more than 10% for all network members by automatically eliminating payment delays, disputes and complicated reconciliations.

To date, Data Gumbo has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco; Equinor Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator; and L37, a hybrid venture capital and private equity company. Data Gumbo is headquartered in Houston, Texas, with global offices in Stavanger, Norway, Khobar, Saudi Arabia, and London, UK. For more information, visit www.datagumbo.com or follow the company on LinkedIn, Twitter and Facebook.

About the World Changing Ideas Awards

World Changing Ideas is one of Fast Company’s major annual awards programs and is focused on social good, seeking to elevate finished products and brave concepts that make the world better. A panel of judges from across sectors choose winners, finalists, and honorable mentions based on feasibility and the potential for impact. With the goals of awarding ingenuity and fostering innovation, Fast Company draws attention to ideas with great potential and helps them expand their reach to inspire more people to start working on solving the problems that affect us all.

Media contact:
Ellen Miles
fama PR for Data Gumbo
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AUSTIN, Texas--(BUSINESS WIRE)--WhiteWater today announced the expansion of the Whistler Pipeline’s mainline capacity through the planned installation of three new compressor stations. The new compressor stations will increase the pipeline’s mainline capacity from 2.0 billion cubic feet per day (Bcf/d) to approximately 2.5 Bcf/d. The expansion is scheduled to be in service in September of 2023 and the expansion capacity will be offered at terms equivalent to initial shippers, including fuel retention.

The Whistler Pipeline is owned by a consortium including MPLX LP (NYSE: MPLX), WhiteWater, and a joint venture between Stonepeak and West Texas Gas, Inc..

About the Whistler Pipeline

The Whistler pipeline is an approximately 450-mile, 42-inch intrastate pipeline that transports natural gas from the Waha Header in the Permian Basin to Agua Dulce, Texas, providing direct access to South Texas and export markets. An approximately 85-mile 36-inch lateral provides connectivity to the Midland Basin.

About MPLX LP

MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. MPLX also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com

About WhiteWater

WhiteWater is an Austin, Texas based infrastructure company. WhiteWater is partnered with multiple private equity funds including but not limited to Ridgemont Equity Partners and First Infrastructure Capital. For more information about WhiteWater, visit www.wwdev.com.

About Ridgemont Equity Partners

Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $6.0 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. For more information about Ridgemont, visit www.ridgemontep.com.

About First Infrastructure Capital

First Infrastructure Capital Advisors, LLC is a Houston-based investment firm specializing in greenfield projects and companies operating in the midstream, downstream, electric power, telecommunications, and renewable energy industries. First Infrastructure Capital Advisors, LLC is an SEC-registered investment adviser, which manages funds affiliated with First Infrastructure Capital, L.P. For more information about First Infrastructure Capital, visit www.firstinfracap.com.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $46 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy transition, transport and logistics, and social infrastructure. Stonepeak is headquartered in New York with offices in Austin, Hong Kong, Houston, London and Sydney. For more information, please visit www.stonepeak.com.

Some of the above statements constitute forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of the companies named herein and are difficult to predict. Factors that could impact the opportunities described above include but are not limited to general domestic and international economic and political conditions and the factors described in MPLX’s filings with the Securities and Exchange Commission (SEC). Any forward-looking statement speaks only as of the date of the applicable communication and the companies named herein undertake no obligation to update any forward-looking statement except to the extent required by applicable law. Copies of MPLX's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC's website, MPLX's website at http://ir.mplx.com or by contacting MPLX's Investor Relations office.

MPLX LP Investor Relations: Kristina Kazarian (419) 421-2071
WhiteWater Investor Relations: www.wwdev.com
Stonepeak: Kate Beers (646) 540-5225

SUGAR LAND, Texas--(BUSINESS WIRE)--Rangeland Energy (”Rangeland”), today announced that it has secured a $300 million growth equity commitment from EnCap Flatrock Midstream (“EnCap Flatrock”) to support the formation of a new entity, Rangeland Energy IV, LLC (“Rangeland IV”). Rangeland IV will continue to pursue midstream acquisitions and development opportunities in both conventional and unconventional resource plays across the U.S. and Canada, as well as new opportunities in decarbonized infrastructure.

Rangeland IV will be led by President and Chief Executive Officer Chris Keene, Managing Partner and Chief Financial Officer Craig Peus, Managing Partner and Chief Operating Officer Josh Thomas, and Managing Partner and Chief Commercial Officer Orin Atkins. The company will also maintain Rangeland’s established presence in Canada via Rangeland Midstream Canada, Ltd., Rangeland’s Calgary-based subsidiary led by President and Chief Commercial Officer Briton Speer. Rangeland’s leadership team has extensive midstream experience, having successfully developed and operated midstream infrastructure servicing producers, marketers, and refiners in multiple basins and resource plays across North America.

“We are very excited to launch Rangeland IV and continue our long-term partnership with EnCap Flatrock Midstream,” said Chris Keene, CEO of Rangeland Energy. “Rangeland IV will be focused on acquiring assets and developing projects that accommodate an ever-increasing global demand for traditional energy commodities while simultaneously assessing new opportunities in an evolving energy landscape.”

“Chris and his impressive team at Rangeland have created a portfolio of extremely successful, very complex midstream projects over the past 13 years,” said EnCap Flatrock Midstream Managing Partner and Chief Operating Officer Morriss Hurt, a member of the Rangeland board of directors. “We have full confidence that the Rangeland IV team will continue to be successful and we are honored to have the opportunity to partner with them again.”

The $300 million commitment is the fourth EnCap Flatrock growth equity commitment to Rangeland companies, bringing the total to $900 million since Rangeland’s formation in 2009. In 2010, Rangeland developed its first asset, COLT, a crude oil rail terminal, storage, and pipeline hub servicing customers in the Bakken and Three Forks Shale. Rangeland Energy II successfully constructed the RIO System, a multipart crude and sand logistics system in the Delaware Basin, comprised of the RIO Pipeline, State Line Terminal, Midland Terminals and the RIO Hub. Rangeland Energy III has developed and currently operates two midstream assets: the Marten Hills Pipeline System, a crude oil and condensate pipeline system located in north central Alberta and operated by Rangeland Midstream Canada, and the STEPS terminal located in Corpus Christi, Texas.

About Rangeland Energy

Headquartered in Sugar Land, Texas, and with offices in Calgary and Athabasca, Alberta, Rangeland Energy was formed in 2009, and focuses on developing, acquiring, owning and operating midstream infrastructure that transports, processes, and stores crude oil, natural gas, natural gas liquids, and biofuels across North America. The Rangeland team represents more than 200 years of combined midstream experience and is backed by EnCap Flatrock Midstream. For more information, please visit www.rangelandenergy.com.

About EnCap Flatrock Midstream

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

TEN|10 Group
Bevo Beaven
303.433.4397, x114 o
720.666.5064 m
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) has been awarded an additional contract and received notice to proceed by ExxonMobil (NYSE: EOM) affiliate Esso Exploration and Production Guyana Limited for its Yellowtail development in the Stabroek Block offshore Guyana.

The newly announced significant⁽¹⁾ flexibles contract covers six risers which are qualified for high pressure and high temperature.

The Company has also been given full notice to proceed with the previously announced contract for the subsea production system (SPS), following ExxonMobil’s final investment decision in April. The initial award of the large⁽²⁾ contract was announced in November 2021. TechnipFMC will provide project management, engineering, manufacturing and testing capabilities for the subsea production system, which includes 51 enhanced vertical deepwater trees (EVDT) and associated tooling, as well as 12 manifolds and associated controls and tie-in equipment.

The majority of the total contract awards will be included in the Company’s second quarter inbound orders.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are thrilled that our partnership with the Stabroek Block operator continues to grow. We have an established presence in Guyana to accommodate the level of activity there and we’re committed to further developing local capabilities.”

TechnipFMC currently employs 70 Guyanese, and expects to continue to hire and train additional local staff in support of these awards.

⁽¹⁾ For TechnipFMC, a “significant” contract is between $75 million and $250 million.
⁽²⁾ For TechnipFMC, a “large” contract is between $500 million and $1 billion.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

Investor relations

Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
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James Davis
Senior Manager, Investor Relations
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Media relations

Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
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Catie Tuley
Director, Public Relations
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• Sale supports strategy to focus investments on advantaged assets
• Includes ‘Neptun Deep’ block in the Black Sea
• Transaction expected to close in second quarter

IRVING, Texas--(BUSINESS WIRE)--ExxonMobil has reached an agreement to sell its Romanian upstream affiliate, ExxonMobil Exploration and Production Romania, to Romgaz for more than $1 billion, subject to Romanian government approvals.

“ExxonMobil continues to evaluate our portfolio of opportunities, focusing our investments in advantaged assets with a low cost of supply,” said Liam Mallon, president of ExxonMobil Upstream Company. “Our investments to date have positioned the Neptun Deep project for future success with potential to help increase resource production within Romania and the European Union.”

The agreement includes all shares in ExxonMobil Exploration and Production Romania along with interest in the XIX Neptun Block offshore Romania. Operatorship on the block will transfer to its other titleholder, OMV Petrom. Employees of the Romanian affiliate will transfer as part of the sale.

ExxonMobil has been present in Romania’s upstream sector since November 2008, when it acquired an interest in the deepwater Neptun Deep block in the Black Sea.

The transaction is expected to close in the second quarter of 2022.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.

The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor.

Follow us on Twitter and LinkedIn.

Cautionary Statement

Statements of future events or conditions in this release are forward-looking statements. Actual future results, including closing of agreed divestments and realization of payments; performance of and results from other investments; and other business plans, could vary significantly depending on a number of factors including the supply and demand for oil, gas, and petroleum products and other market factors affecting the oil, gas, and petrochemical industries; the severity, length and ultimate impact of COVID-19 on people and economies and actions of governments in response to the pandemic; obtaining necessary approvals and consents and satisfaction of other conditions precedent contained in the applicable agreements; the development and competitiveness of alternative technologies; actions of competitors and commercial counterparties; political and regulatory developments including environmental regulations; and other factors discussed in this release and under Item 1A Risk Factors in ExxonMobil’s most recent annual report on Form 10-K and under the heading “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com. The term “project” can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.

Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as Corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Nothing contained herein is intended to override the corporate separateness of affiliated companies.

Media Relations
972-940-6007

HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) will host its 2022 Annual Meeting of Shareholders on Wednesday, May 11, at 9 a.m. CDT in a virtual-only format.

The meeting can be accessed at virtualshareholdermeeting.com/PSX2022 or the Phillips 66 Investors site at phillips66.com/investors under “Events and Presentations.”

Shareholders of record as of the close of business on March 15, 2022, can attend the virtual annual meeting by using the 16-digit control number included on the proxy card, voting instruction form or notice.

Shareholders who do not intend to vote or submit a question during the virtual meeting and other interested parties may access the meeting as guests.

A replay of the webcast will be archived on the Investors site approximately 24 hours after the close of the meeting, and a transcript also will be available at a later date.

About Phillips 66

Phillips 66 (NYSE: PSX) transports, manufactures and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.

Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Thaddeus Herrick (media)
855-841-2368
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