LONDON--(BUSINESS WIRE)--Rio Tinto and bp have agreed to work together on a one-year biofuel trial to help reduce carbon emissions from Rio Tinto’s marine fleet.

Under the trial, bp is supplying Rio Tinto with marine biofuel for approximately 12 months. The fuel will be trialled on Rio Tinto’s RTM Tasman vessel on a mix of Transatlantic and Atlantic-Pacific routes, in one of the longest-duration marine biofuel trials to date. The results of the trial will help Rio Tinto study ways to reduce its carbon emissions from its marine fleet and inform its future biofuel strategy.

Rio Tinto Head of Commercial Operations, Laure Baratgin said, “Sustainable biofuels have the potential to be an important transition fuel on the way to net-zero marine emissions and we are pleased to be working with bp to carry out this long-term trial.

“A longer-duration trial will provide important information on the potential role and wide scale use of biofuels, and aligns with our goals to reduce marine emissions across our value chain and support efforts to decarbonise the maritime industry.

“Our ambition is to reach net-zero emissions from shipping of our products to customers by 2050 and to introduce net-zero carbon vessels into our portfolio by 2030. We know that we won’t meet these ambitions alone and along the way will need to work with capable and experienced companies such as bp.”

Sven Boss-Walker, senior vice president refining & products trading, bp said, “Sustainable biofuels are important to help decarbonise the shipping industry in the near- and mid-term as we transition towards longer term net zero solutions. We’re proud to be working with Rio Tinto to support their work to decarbonise. These trials are part of our ongoing efforts to help accelerate the shipping industry’s energy transition.”

The extended trial agreement follows a successful journey on the RTM Tasman after it refuelled with biofuel in Rotterdam in March 2022 for the first time and then picked up its first load of the trial at the Iron Ore Company of Canada’s Sept-Îles port in Quebec in April. All biofuel refuelling during the trial will be at Rotterdam.

The trial is using a bp-manufactured B30 biofuel blend composed of 30% fatty acid methyl esters (FAME) blended with very low sulphur fuel oil (VLSFO). This B30 biofuel blend can reduce lifecycle carbon dioxide emissions by up to 26% compared to standard marine fuel oil.

FAME is a renewable alternative fuel (biodiesel) largely produced from recycled cooking oils and renewable oil sources. It has physical properties similar to conventional diesel, and is a ‘drop in fuel’, requiring no modifications to the engine or vessel. The origination and production of the feedstocks used to produce the FAME is certified for its sustainability to internationally recognized standards.

Working with bp and the ship managers Anglo Eastern, the trial will analyse a series of engine and fuel performance factors, including engine efficiency and fuel consumption, corrosion and degradation, microbial growth, temperature impact, fuel switching impacts and fuel stability.

Rio Tinto is also accelerating the delivery of its climate commitments on shipping. It has delivered a 30% intensity reduction on its owned and time-chartered fleet from a 2008 baseline, and is on track to meet the International Maritime Organisation’s 2030 targets of a 40% reduction in emissions five years early, by 2025.

bp is working with companies in key industrial sectors such as shipping, that have significant carbon emissions to manage, supporting their work to decarbonize.

About bp

bp’s purpose is to reimagine energy for people and our planet. It has set out an ambition ‎to be a net zero company by 2050, or sooner and help the world get to net zero, and a ‎strategy for delivering on that ambition. For more information visit bp.com.‎

About Rio Tinto

Rio Tinto is a leading mining and metals company, operating in 35 countries and producing high-quality iron ore, copper, aluminium, and other materials essential for the low-carbon transition. We are also one of the world’s largest dry bulk shippers. We are committed to reaching net-zero by 2050 and are targeting a 15% reduction in scope 1&2 emissions by 2025 (from a 2018 baseline) and a 50% reduction by 2030. For more information visit riotinto.com.

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Category: General

• New approach maximizes grid flexibility with the industry’s broadest, end-to-end integrated solution for DER management
• Partnerships with AutoGrid and Uplight affirm the company’s leadership position in grid management and microgrid solutions
• Grid to Prosumer combines the 3 pillars of DER management: grid optimization, flexibility services, prosumer engagement

BOSTON--(BUSINESS WIRE)--Schneider Electric, the global leader in the digital transformation of energy management and automation, today announced Grid to Prosumer, an end-to-end approach to DER management to maximize the connection and value of renewable energy, energy storage and electric vehicles.

Grid modernization is increasingly about managing supply and demand at the grid edge, spanning both sides of the customer meter. It requires new ways to engage, plan and design, optimize and maintain, analyze and automate, all with a stepwise, coordinated approach. Schneider Electric’s new Grid to Prosumer approach helps manage the lifecycle of DER management with simple to complex workflows and use cases that optimize DER across energy market needs, grid constraint requirements and prosumer priorities.

Schneider Electric has also expanded its EcoStruxure Grid portfolio for Grids of the Future with strategic partners AutoGrid for flexibility services and Virtual Power Plants, and Uplight for prosumer engagement and demand-side management. With this continued focus toward solving the challenges the industry faces, the Grid to Prosumer approach offers an end-to-end solution to DER management that coordinates across business functions with a comprehensive view of grid data management that is value-based and use-case driven.

“Schneider Electric recognizes that as the complexity of grid management rises, the more crucial it becomes to address utility challenges holistically,” said Scott Koehler, Vice President, Global Strategy for Digital Grids at Schneider Electric. “Backed by a comprehensive portfolio of solutions driving our vision for Grids of the Future, the Grid to Prosumer approach addresses the needs of supply and demand to serve utilities and prosumers with more flexible and scalable options for a more reliable, efficient, sustainable and flexible grid.”

End-to-end Integrated DER Management Approach

• Modeling – Types, sizes, locations, and availability of DER are shared so that all necessary business functions, such as customer service, asset management, and planning and operations, have the latest view. This includes adding and removing DER, updating availability status, reconciling network reconfiguration, etc.
• Situational Awareness – Visibility can now include DER status and event schedule for demand management activities. For example, when a demand curtailment event is scheduled, details such as timing, duration, and scale of the event is integrated into planning and operations systems.
• Planning – Increases efficiency of processing new customer connection requests and enables the assessment of available hosting capacity for all grid locations. Assess all options to increase capacity including non-wire alternatives.
• Realtime & Lookahead Constraint Management – Detects constraints in real-time, predicts future constraints and specifies mitigation parameters and schedule for grid optimization: group of DER for affected area, load/production increase/decrease, and timeframe. Flexibility services then dispatches assets, directly or through aggregators, via prioritization and optimization parameters to meet the request.
• Dynamic Operating Limits – Provides upper and lower bounds on the import or export of power for each DER or group of DER. This more dynamic approach integrated with flexibility services adjusts upper & lower limits in short, precise time intervals.
• Flexibility Markets – Requests for DER optimization are integrated with flexibility markets to facilitate a bid process with prosumers. The result is a list of available resources to meet that request. When the scheduled time arrives, DER are dispatched according to the awarded bid conditions.

EcoStruxure Grid integrated solutions for Grids of the Future directly supporting the Grid to Prosumer approach include EcoStruxure™ DERMS for grid optimization, AutoGrid Flex for flexibility services and Virtual Power Plants, Uplight Orchestrated Energy and Energy Profiler Online for prosumer engagement and demand-side management, and EcoStruxure Microgrid Advisor for microgrid management.

Schneider Electric’s EcoStruxure Grid solution portfolio for Grids of the Future demonstrates the company’s commitment to a more digital and electric world, and together with the Grid to Prosumer approach supports the growth of distributed energy resources, microgrids, energy communities, and other flexible resources across digitally planned, designed and operated lifecycles.

To learn more about Schneider Electric’s vision for Grids of the Future, download our e-guide detailing the Grid to Prosumer end-to-end approach to DER management, or visit https://www.se.com/us/en/work/campaign/grids-of-the-future/.

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for Sustainability and Efficiency.

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

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

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

Hashtags: #GridsOfTheFuture #EcoStruxureGrid #LifeIsOn #AccessToEnergy #SchneiderElectric #AutoGrid #Uplight

Schneider Electric Media Relations – Vicki True; 774-613-1158; This email address is being protected from spambots. You need JavaScript enabled to view it.

Companies to implement first-of-its-kind digital twin for field development

HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced that it and Aker BP, a Norwegian oil and gas exploration and production company, will co-develop next generation field development planning software. The collaboration delivers a new cloud application – Field Development Planning (FDP) – from Halliburton. It also expands the scope of the current Digital Well Program^®, a DecisionSpace^® 365 cloud application, built on an open architecture to provide integrated well planning and design to increase collaboration and connectivity across drilling activities.

Built on the OSDU^TM Data Platform, FDP converts the manual process of collating field development data to make the decision gate process more efficient and auditable and provides a common audit trail across the subsurface community. FDP helps organizations better understand uncertainty and risks associated with field development concepts.

“We are excited to extend our close collaboration with Aker BP and develop a cutting-edge intelligent system to evolve field development from the manual FDP process that exists in most enterprises,” said Halliburton Chairman, President and CEO Jeff Miller. “FDP creates a holistic view of field development and well construction, which will allow Aker BP to make more informed and expediated subsurface and reservoir/production decisions to optimize its investment and maximize the return on its assets.”

“Aker BP aims to be fully digital and nearly fully automated towards the end of this decade. We are creating an ecosystem where work processes are seamlessly integrated, and data is flowing without friction. Halliburton is a key partner in this strategy. FDP will give us the ability to increase efficiency, maximize value and make data-driven decisions for entire field concepts. Furthermore, we will then understand and mitigate risk and uncertainty on a whole new level,” said Karl Johnny Hersvik, CEO of Aker BP. “Keeping different development scenarios in place for future use gives us a cutting-edge capability to understand how engineering work matures during the development phases. It will make it possible to collaborate and drive transparency across the assets as never seen before in the industry.”

Halliburton and Aker BP build on a close and collaborative strategic relationship over many years.

“Together we are already revolutionizing well construction through transformative expertise, agile processes and game changing technology. We have successfully implemented Collaborative Well Planning for optimal well placements, reduced risk and increased resources. We are close to designing a well in a day with high quality in the open Digital Well Program built on Halliburton’s iEnergy solution. With Field Development Planning we are accelerating our digital transformation to the next level,” said Tommy Sigmundstad, senior vice president of Drilling and Wells for Aker BP.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

About Aker BP

Aker BP is an independent E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker ‘AKRBP’. More about Aker BP at www.akerbp.com.

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• Grid Operations Platform as a Service unlocks rapid innovation with agile cloud solutions managed as a service
• Deployment model offers remote access to a scalable, flexible architecture that simplifies and expedites implementations, ongoing maintenance and updates
• Platform assists utilities on their digital transformation journey toward managing more reliable, efficient, sustainable and flexible grids

BOSTON--(BUSINESS WIRE)--#GridsOfTheFuture--Schneider Electric, the global leader in the digital transformation of energy management and automation, today announced Grid Operations Platform as a Service as part of its EcoStruxure Grid portfolio. Backed by Microsoft Azure’s open cloud computing platform, Schneider Electric is offering a deployment environment that enables grid planning and operations solutions to be hosted and managed on the cloud.

As the industry experiences significant disruption and technology advancing at a rapid pace, traditional ways of deploying software solutions and associated services are changing. Schneider’s Grid Operations Platform as a Service was built to answer the unprecedented challenges that grid operators face today. While cloud solutions continue to demonstrate value across industries, grid operators can gain value with simplified deployments, incremental enhancements, increased scalability and reduced maintenance – all while enabling managed and advisory services. Simplified, stepwise, cybersecure approaches are in demand for all aspects of grid management, both IT and OT. Schneider Electric is delivering Grid Operations Platform as a Service on Azure in collaboration with Microsoft to address the demands of critical energy infrastructure for the energy industry.

“Microsoft’s commitment to this collaboration is helping drive digital transformation for people, organizations and the industry at large” said Alexis Grenon, SVP Digital Grid at Schneider Electric. “Together we are working to help our customers manage more reliable, efficient, sustainable and secure grids today and into the future.”

Schneider Electric has a strong history of delivering asset management and edge management cloud solutions to utilities and is now extending that success to operations management, with EcoStruxure DERMS (distributed energy resource management systems) and EcoStruxure ADMS (advanced distribution management system) running on Azure, including use cases such as DER (distributed energy resource) management, outage management, grid planning, and user training. This is unlocking value that can be delivered to a much broader market where smaller organizations can realize the same benefits as the largest ones. This progression provides increased value to customers and enables a more agile approach to delivering innovation.

“Microsoft is supporting Schneider Electric in delivering business solutions that allow customers to focus more on their operations and less on managing software infrastructure,” said Darryl Willis, Corporate Vice President, Energy Industry at Microsoft. “This further enables Schneider Electric to address the utility industry’s most pressing business challenges with the flexibility, reliability and security of Azure."

The announcement comes on the heels of Schneider Electric’s ranking #1 on the Guidehouse Insights Leaderboard for Distributed Energy Resource Management Systems (DERMS) Vendors report. The new DERMS solution addresses utility and grid management needs from a holistic perspective, offering an end-to-end approach to DER management.

Schneider Electric’s EcoStruxure Grid solution portfolio demonstrates the company’s commitment to a more digital and electric world, and together with Grid Operations Platform as a Service supports the growth of distributed energy resources, microgrids, energy communities, and other flexible resources across digitally planned, designed and operated lifecycles. Grids of the future are powered by data and integrated network models – they are more reliable, flexible, efficient and secure.

To learn more about Schneider Electric’s vision for Grids of the Future, download our e-guide detailing Grid Operations Platform as a Service, or visit https://www.se.com/us/en/work/campaign/grids-of-the-future/.

About Schneider Electric

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

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

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

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

www.se.com

Follow us on:  Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog

Hashtags: #PlatformAsAService #LifeIsOn #EcoStruxureGrid #AccessToEnergy #SchneiderElectric

Schneider Electric Media Relations – Vicki True; 774-613-1158; This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it has redeemed 100% of the Alkali asset-level preferred units that were originally issued in 2019 to fund the expansion of our Granger soda ash facility. In conjunction with the redemption, certain subsidiaries of Genesis, which own, directly or indirectly, Genesis’ trona mineral mining and processing assets (excluding the SPV and the ORRI, each as defined below), are now once again restricted subsidiaries, which substantially increases the credit support for our secured lenders and unsecured bond holders.

On May 17, 2022, a wholly-owned subsidiary of Genesis Alkali Holdings Company, LLC (“Genesis Alkali”) sold a 10% limited term overriding royalty interest (“ORRI”) in substantially all of Genesis’ trona mineral leasehold interests to a special purpose vehicle (“SPV”) indirectly and wholly-owned by Genesis Energy, L.P. In conjunction with the sale of the ORRI, the SPV issued $425 million of 5.875% senior secured notes due 2042 (the “Notes”) to certain insurance accounts advised by Blackstone. The proceeds from the Notes were used by the SPV to purchase the ORRI and by Genesis to fully redeem and retire all of the outstanding asset-level preferred units and to re-pay certain amounts outstanding under its senior secured revolving credit facility.

The Notes issued by the SPV will be serviced solely by the cash flows from the ORRI and any excess available cash at the SPV, after debt service and certain cash reserves, will be distributed to our wholly owned Alkali subsidiary. The holders of the Notes will have no recourse to the underlying assets of Genesis Alkali or Genesis Energy, L.P. and are only secured by the equity and assets of the SPV, including the ORRI and cash flows therefrom.

Grant Sims, Chairman and CEO of Genesis Energy, said, “This transaction represented an attractive opportunity for Genesis to redeem our asset-level preferred units, immediately simplifying our corporate structure while enhancing the credit support for both our secured lenders and unsecured bond holders. We were able to remove any perceived re-financing risk associated with the asset-level preferred units which was otherwise due in 2026, while also preserving the upside on soda ash prices. The sale of the ORRI and associated financing allowed us to raise attractively priced 20 year money at 5.875% while remaining leverage neutral under our calculated bank leverage ratio. The remainder of the proceeds from this transaction will be used to finish our high return Granger expansion as well as for general corporate purposes, including paying down outstanding debt under our senior secured revolving credit facility. I would also like to thank Blackstone for their support and long-term belief in Genesis.”

RBC Capital Markets served as sole financial advisor and placement agent and Akin Gump Strauss Hauer & Feld LLP served as legal advisor to Genesis.

Blackstone Credit is one of the world's largest credit-focused asset managers, with $230 billion in AUM. Blackstone Credit seeks to generate attractive risk-adjusted returns for its clients by investing across the entire corporate credit market, from public debt to private loans. Its capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

Certain presentation materials on the transaction are available and may be downloaded by visiting the Partnership’s website at www.genesisenergy.com under “Presentations” under the Investors tab.

This press release includes forward-looking statements as defined under federal law. Although we believe that our expectations are based upon reasonable assumptions, we can give no assurance that our goals will be achieved. Actual results may vary materially. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including but not limited to statements relating to future financial and operating results and the anticipated benefits of our Notes offering and related refinancing and other transactions and our ability to satisfy our obligations under the Notes, compliance with our senior secured credit facility covenants, the timing and anticipated benefits of the Kings Quay and Argos developments, our expectations regarding our Granger expansion, construction and anticipated benefits of the SYNC pipeline and expansion of the capacity of the CHOPS system, the expected performance of our other projects and business segments and the potential impacts of the Covid-19 pandemic and the war in Ukraine, and our strategy and plans, are forward-looking statements, and historical performance is not necessarily indicative of future performance. Those forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside our control, that could cause results to differ materially from those expected by management. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for products (which may be affected by the actions of OPEC and other oil exporting nations) and a reduction in demand for our services resulting in further impairments of our assets, the spread of disease (including Covid-19), the impact of international military conflicts (such as the conflict in Ukraine), the timing and success of business development efforts and other uncertainties. Those and other applicable uncertainties, factors and risks that may affect those forward-looking statements are described more fully in our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission and other filings, including our Current Reports on Form 8-K and Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement.

Genesis Energy, L.P.
Dwayne Morley
VP – Investor Relations
(713) 860-2536

• Primary air-insulated, metal-clad switchgear with acclaimed vacuum EvoPacT circuit breakers offer best-in-class technology for large and complex medium voltage (MV) power distribution and control
• New digital features integrated for monitoring and control of equipment health, predictive maintenance and operational efficiency
• Compact design saves up to 25% of floor space

BOSTON--(BUSINESS WIRE)--#TheFutureIsSet--Schneider Electric, the global leader in the digital transformation of energy management and automation, announced the launch of its new SureSeT MV switchgear offering for the North American market. This new and improved solution, backed by the innovative and award-winning EvoPacT circuit breaker, replaces the Schneider Electric Masterclad solution for primary switchgear applications with a smaller, stronger and smarter solution for managing digital day-to-day operations.

SureSeT and EvoPacT combine to offer a range of benefits over traditional equipment, including:

• Digitally “Active”: Newly integrated digital features offer insights into day-to-day operations for remote access, monitoring and control of equipment health, predictive maintenance and operational efficiency
• Compact design: Optimize space in commercial and industrial buildings with MV switchgear that’s 25% smaller than standard designs
• Longer lifetime: Built to last for up to 40 years and through 30,000 operations – 3x the industry standard
• Greater uptime: Embedded sensors detect problems earlier and predict potential issues based on real-time asset insights – maintenance is based on condition rather than time without service interruption
• Enhanced operational safety: Minimize potential equipment issues with complete 360° insight into digital operations from a safe working distance
• Award winning: Recipient of the iF 2022 Design Award for EvoPacT in the Building Technology/Product category

“We designed the SureSeT solution to address customers’ increasing demand for space optimization and operational efficiency,” said Guillaume Le Gouic, Senior Vice President of Power Systems at Schneider Electric. “Together, EvoPacT and SureSeT’s compact design, integrated automation, monitoring and controlling capabilities allow our customers to do more with less.”

The EvoPacT circuit breaker is key to SureSeT’s integrated condition monitoring capabilities, allowing operators to manage, prioritize and triage impending equipment issues, increasing facility uptimes. This also enables technicians to remain at a safe working distance by using native wireless communications to operate equipment and gather data. In addition to accessing data from remote devices, it can also be shared via cloud connection to digital services, like EcoStruxure Asset Advisor, to fully optimize system interoperability.

EvoPacT breakers are equipped with digital technology that unlocks state-of-the-art capabilities, providing insight into electrical distribution systems, combining sensors, apps, services, and a digital logbook.

Digital insights from the SureSeT and EvoPacT Active ranges empower facility managers to proactively manage any potential issues that arise in real-time, reducing risks, lifetime costs and downtime to operations – a pivotal step for businesses that rely on large amounts of power for critical work, including manufacturers, hospitals and data centers.

Both innovative offers were announced during the "Smarter, Smaller, Stronger MV" webinar kickoff event which detailed how to boost operations with smart and robust MV switchgear.

To learn more about SureSeT, please visit se.com/us/sureset. Contact your local Schneider Electric representative for a quotation or to learn more about these innovative offers.

About Schneider Electric

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

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

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

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

www.se.com

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

Hashtags: #SureSeT #EvoPacT #TheFutureIsSet #EcoStruxure #SchneiderElectric #LifeIsOn

Schneider Electric Media Relations – Vicki True; 774-613-1158; This email address is being protected from spambots. You need JavaScript enabled to view it.
PR Agency for Schneider Electric – Sarah Horowitz; 215-817-5202; This email address is being protected from spambots. You need JavaScript enabled to view it.

NEW YORK--(BUSINESS WIRE)--Admiral America Energy Inc. is pleased to announce the appointment of Frank Bernthaler to the role of Chief Operating Officer. Frank will be based in the UAE and lead all aspects of Admiral Energy’s operations, manufacturing and global expansion management, including leveraging his unique talent for the launch of new Admiral Energy offices around the world.

Frank will spearhead Admiral America’s plans to roll out electric mobility and EV charging solutions across Middle East, Africa, CIS and India, while also overseeing the new product and manufacturing verticals. He will also serve as strategic advisor on distribution and consulting, extending his decades of global automotive expertise to Admiral’s global leadership team.

Frank brings to the role more than 30 years of experience in sales and marketing, product development and launch, infrastructure and process development, as well as operations management. Frank’s career stretches across Mexico, Germany, USA, Austria and most recently the UAE to give him invaluable work experience and intercultural understanding.

The Board of Directors of Admiral America Energy Inc. said, “We are pleased to welcome Frank onboard to lead the inspired Admiral America Energy team. His wealth of experience will prove pivotal as we introduce new products globally.”

Admiral Energy provides EV transportation, charging and energy storage solutions for industries and consumers. The company is committed to fostering the growing environmental reforms around the world to propagate the benefits of clean-energy sources.

Commenting on his appointment to COO, Frank Bernthaler said: “I am thrilled and excited to join Admiral America Energy, a progressive, forward-looking company whose innovation is now focused on sustainability and the delivery of solutions relating to e-mobility, charging and energy storage solutions – all of which are the sunrise industries with a promising future.

“We are envisioning a new journey with battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs) providing a range of clean energy solutions for commercial transportation. I look forward to playing a vital role in bringing this groundbreaking technology to market.”

Admiral America Energy Inc.

Admiral’s foray into Electrical Appliances commenced in 1934 receiving “Excellence” award from U.S. government for its production efforts during WWII. Today AAE focuses on providing multiple clean energy solutions in electric, hydrogen fuel cell & methanol for a comprehensive ecosystem in next generation commercial transportation.

*Source: AETOSWire

Rina Latash
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LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services Inc. (NASDAQ: JBHT), one of the largest supply chain solutions providers in North America, today announced it has been named to the Fortune 500 list for the tenth consecutive year. The company ranked 311, moving up from its position in 2021.

“This recognition is a testament to the culture of innovation and excellence we strive for at J.B. Hunt,” said John Roberts, president and chief executive officer at J.B. Hunt. “As we work towards our mission of creating the most efficient transportation network in North America, we will continue to leverage our talented people, industry-leading technology and capacity-driven solutions to serve the needs of our customers and their supply chain.”

The Fortune 500 is an annual list published by Fortune magazine that ranks the 500 largest U.S. companies by total revenue for the respective fiscal year. According to Fortune, companies on this year’s list represent two thirds of U.S. GDP with $14.2 trillion in revenue. In February, J.B. Hunt was recognized by Fortune as one of the World’s Most Admired Companies.

About J.B. Hunt

J.B. Hunt Transport Services, Inc., an S&P 500 company, provides innovative supply chain solutions for a variety of customers throughout North America. Utilizing an integrated, multimodal approach, the company applies technology-driven methods to create the best solution for each customer, adding efficiency, flexibility, and value to their operations. J.B. Hunt services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, final mile, and more. J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average. J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT. For more information, visit www.jbhunt.com.

Brittnee Davie
Vice President - Marketing
479.419.3178
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LONDON--(BUSINESS WIRE)--Giga Carbon Neutrality Inc. (“GCN”), the clean commercial transportation and technology company and The Port Authority of Antwerp-Bruges, Belgium, operator of Europe's largest export port, largest throughput port for vehicles, and the leading chemical hub in Europe held a signing ceremony for strategic mutual cooperation.

GCN will carry out vehicle and vessel automation pilot programs in Belgium as well as consolidating the port's leading position in the global supply chain. The Port Authority of Antwerp-Bruges will assist the development of GCN in Europe by providing the necessary support and relations to facilitate enhanced development opportunities for GCN’s global business.

The cooperation agreement was signed by Tom Hautekiet, COO of the Port of Antwerp-Bruges and Richard Martin, CEO of GCN.

Richard Martin, CEO of Giga Carbon Neutrality, commented:

With this agreement, GCN and the Port of Antwerp-Bruges are leading the way to deliver on the carbon reduction targets set out by the European Union. We look forward to working with the Port and assist its operations with our hydrogen and battery electric vehicle fleet.

Tom Hautekiet, COO of the Port of Antwerp-Bruges, commented:

As the biggest automotive hub in Europe, the Port of Antwerp-Bruges is excited to welcome GCN. The cooperation will lift the automotive role of the port of Antwerp-Bruges to a higher level and help realize our ‘clean port strategy’ ambition.

About Giga Carbon Neutrality (www.gigacarbonneutrality.com)

Giga Carbon Neutrality is a clean energy mobility and technology company that makes operating reliable, non-polluting 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, is a limited liability company incorporated in British Columbia, Canada, having its registered address at 2270-8788 McKim Way, Richmond, BC. V6X 4E2, Canada.

About The Port Authority of Antwerp-Bruges, Belgium

The combined Port Authority, as a European green energy hub, will continue to expand project developments such as CO2 recovery, storage and reuse to enhance the reliability and sustainability of the global logistics supply chain. The chemical company cluster of the Antwerp platform and the coastal location of the Bruges platform will be used to promote the development of the hydrogen energy industry. The Port Authority of Antwerp-Bruges will play an important role in achieving Europe's carbon reduction targets.

For more information:
Richard Martin
Giga Carbon Neutrality
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The event will take place on Tuesday, May 24th from 1:00 - 3:00 pm PT

NEWARK, Calif.--(BUSINESS WIRE)--On Tuesday, May 24th, 2022, FreeWire Technologies will host the Grand Opening of its Global Headquarters, R&D, and Manufacturing Facility in Newark, California. This event will provide an inside look at the facility and demonstrate the next-generation power technology fundamental to the global energy transition. In addition, the event will feature a speaking program headlined by California Energy Commission (CEC) Chairman David Hochschild, notable industry leaders, federal agency representatives, and elected officials.

This is an in-person, invite-only event, and we ask all press/media to RSVP here.

About FreeWire

Founded in 2014, FreeWire Technologies is the leading manufacturer of Buy America compliant battery-integrated EV charging and power solutions in the U.S. The Company’s fully-integrated Boost ChargerTM plugs into existing and ubiquitous low-voltage utility service and delivers high-power charging in areas that typically require extensive grid upgrades. The Boost Charger’s combination of proprietary battery and power conversion technology enables ultrafast EV charging at all locations, freeing customers from the costs of providing fast charging using power directly from the electric grid. FreeWire has deployed battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations across the U.S. and has partnered with bp pulse to deploy Boost Charger in its operations across the UK.

Daniel Zotos, Director of Communications
(617) 448-7497 | This email address is being protected from spambots. You need JavaScript enabled to view it.

TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) announced today that NGL plans to issue its fiscal fourth quarter and year ended March 31, 2022 earnings press release post-market close on Monday, June 6, 2022. Members of NGL’s management team intend to host an earnings call following this release on Monday, June 6, 2022 at 4:00 pm CT to discuss its financial results and guidance for fiscal 2023. Analysts, investors, and other interested parties may join the webcast via the event link: https://www.webcaster4.com/Webcast/Page/2808/45661 or by dialing (888) 506-0062 and providing access code: 956840. An archived audio replay of the call will be available for 14 days, which can be accessed by dialing (877) 481-4010 and providing replay passcode 45661.

About NGL Energy Partners LP

NGL Energy Partners LP, a Delaware limited partnership is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.

This release is a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% of NGL Energy Partner LP’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

NGL Energy Partners LP
Linda J. Bridges, 918.481.1119
Chief Financial Officer and Treasurer
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or
David Sullivan, 918.481.1119
Vice President – Finance
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ST. LOUIS--(BUSINESS WIRE)--Elessent Clean Technologies has announced an additional global price increase of $0.60/liter for its MECS^® sulfuric acid catalyst products. Additional surcharges may apply for freight, near term delivery and specialty product grades. Subject to the terms of applicable contracts, the new pricing will take effect immediately.

About Elessent Clean Technologies

Elessent Clean Technologies is a global leader in process technologies to drive sustainability and carbon neutrality in the metal, fertilizer, chemical and oil refining industries with an unwavering commitment to customer support. We provide extensive global expertise across our portfolio of offerings in key applications – MECS^® sulfuric acid production, STRATCO^® alkylation, BELCO^® wet scrubbing and IsoTherming^® hydroprocessing. Offering critical process equipment, products, technology and services, we enable an array of industrial markets, including phosphate fertilizer, non-ferrous metals, oil refining, petrochemicals and chemicals, to minimize their environmental impact and optimize productivity. We are dedicated to helping our customers produce high-quality products used in everyday life in the safest, most environmentally-sound way possible, with a vision to make the world a better place by creating clean alternatives to traditional industrial processes. Learn more at www.ElessentCT.com.

Elessent™ and all trademarks and service marks denoted with ™, ℠ or ^® are owned by affiliates of Elessent Clean Technologies Inc. unless otherwise noted.

Elessent Clean Technologies
Jeannie Branzaru
Tel: +1.913.406.6757
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MECS^® Sulfuric Acid Catalyst
Cristina Kulczycki
Tel: +1.314.275.5700
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Reaffirms 2022 Guidance

PASADENA, Calif.--(BUSINESS WIRE)--$HLGN #ArtificialIntelligence--Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrated solar energy technology, today provided its first quarter 2022 financial and operational results and reaffirmed its previously announced guidance for 2022.

First Quarter 2022 Highlights

• Signed full project agreement with Woodside Energy (USA) Inc. (“Woodside”) for the commercial-scale demonstration and deployment of Heliogen’s AI-enabled concentrated solar energy technology
• Entered into a collaboration agreement with Woodside to jointly market Heliogen’s technology in Australia
• Began site preparation and setup for its first full-scale manufacturing facility in Long Beach, California

Recent Highlights

• Finalized and executed a lease for Brenda Solar Energy Zone with U.S. Bureau of Land Management
• Announced partnership with Hanwha Power Systems for the production of a 5 megawatt electric (MWe) next-generation supercritical CO₂ power block integrated with high-temperature solid media thermal energy storage designed by Heliogen and to be deployed with the Woodside project
• Reported significant progress in the operationalization of the Long Beach manufacturing facility

Executive Commentary

“Heliogen’s progress in deploying our groundbreaking solar energy technology with world class partners continued at a rapid pace during the first quarter of this year,” said Bill Gross, Founder and Chief Executive Officer of Heliogen. “The momentum we built during 2021 has put us in a great position to maintain our trajectory in 2022 and continue meeting milestones on our path to deployment of solar energy systems for heavy industry. We remain on track to achieve our financial and operational goals this year, which will serve as the foundation for our continued growth in 2023 and beyond.

“During the first quarter, we finalized and signed the full project agreement with Woodside for our first commercial-scale, single-module 5 MWe facility,” continued Gross. “We continue to make great progress with several other potential customers including global metals and mining company Rio Tinto. I’m also pleased with the discussions taking place with Woodside as we kick off our collaboration effort to jointly market Heliogen’s technology in Australia.

“On the manufacturing and development side, we have made rapid progress on the build-out of our facility in Long Beach, California. Multiple fully-automated pilot production lines are now operational along with the vast majority of our reliability and testing lab. We remain on track for the main production lines to be operational in the second half of this year. The impressive progress our production team has made on this facility is a testament to their ingenuity and efficiency, which we expect to apply across all manufacturing, installation and operational efforts,” concluded Gross.

2022 Guidance Reaffirmed

Heliogen today also reaffirmed its previously announced 2022 guidance of between two and three modules contracted and $20 - $25 million of revenue. Heliogen believes the number of modules contracted is the most useful indicator of demand for its products and technology at this stage in its lifecycle. Over time, Heliogen expects these contracts to be converted to revenue as the projects are installed, although there is no assurance as to the time period for such conversion.

First Quarter 2022 Financial Results

For the first quarter 2022, Heliogen reported total revenue of $3.5 million, total operating expenses of $30.0 million and net loss of $59.0 million. Heliogen’s net loss was driven primarily by a non-cash provision for contract losses of $33.8 million related to its first commercial-scale facility and non-cash share-based compensation expense of $13.0 million. Heliogen’s Adjusted EBITDA, which excludes these and other impacts, was negative $16.3 million for the first quarter 2022.

Conference Call Information

The Heliogen management team will host a conference call to discuss its first quarter 2022 financial results today, Monday, May 23, 2022, at 10:00 a.m. EDT. The call can be accessed via a live webcast accessible on the Events & Presentations page in the Investor Relations section of Heliogen’s website at www.heliogen.com. The call can also be accessed live via telephone by dialing 1-877-407-0789 (1-201-689-8562 for international callers) and referencing Heliogen.

An archive of the webcast will also be available shortly after the call on the Investor Relations section of Heliogen’s website.

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. Heliogen’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.

Use of Non-GAAP Financial Information

Management uses certain financial measures, including EBITDA and Adjusted EBITDA, to evaluate our financial and operating performance that are calculated and presented on the basis of methodologies other than in accordance with GAAP. We believe these non-GAAP financial measures are useful to investors and analysts to assess our ongoing financial performance because they provide improved comparability between periods through the exclusion of certain items that we believe are not indicative of our core operating performance, enhance the overall understanding of our past financial performance and future prospects, and remove items that may obscure our underlying business results and trends. These measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP, and our calculations thereof may not be comparable to similarly titled measures reported by other companies. Please see the accompanying tables for reconciliations of the following non-GAAP financial measures for Heliogen’s current and historical results: EBITDA and Adjusted EBITDA.

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 guidance for full-year 2022, the development of our manufacturing and production facilities, maintaining our trajectory in 2022, achieving our financial and operational goals, progress with potential customers and future growth opportunities. 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) the ongoing impacts of the COVID-19 pandemic and the potential impacts of Russia’s invasion of Ukraine on our business; (viii) developments and projections relating to our competitors and industry; (ix) our ability to access sources of capital to finance operations, growth and future capital requirements; and (x) our ability to protect our intellectual property. You should carefully consider the foregoing factors and the other risks and uncertainties disclosed in the “Risk Factors” section in Part I, Item 1A in our Annual Report on Form 10-K/A for the annual period ended December 31, 2021 and other documents filed by Heliogen 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.

Non-GAAP Financial Measures

EBITDA represents condensed consolidated net loss before (i) interest (income) expense, net, (ii) income tax expense (benefit) and (iii) depreciation and amortization expense.

Adjusted EBITDA represents EBITDA adjusted for certain significant non-cash items and items that management believes are not attributable to or indicative of our on-going operations or that may obscure our underlying results and trends.

The following reconciles net loss to EBITDA and Adjusted EBITDA for the periods as shown:

Heliogen Investor Contact
Louis Baltimore
Investor Relations
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Heliogen Media Contact:
Cory Ziskind
ICR, Inc.
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Floating LNG Terminal will provide energy security and supply diversification to Finland while also serving more broadly the needs of the Baltic Sea region

HELSINKI, Finland--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) (“Excelerate”) and a subsidiary of Gasgrid Finland Oy (Gasgrid Finland) today signed a ten-year contract in Helsinki to charter a floating storage and regasification vessel (FSRU) that will provide flexible, reliable, and secure liquefied natural gas (LNG) to Finland, Estonia, and the Baltic Sea Region.

Excelerate President and CEO Steven Kobos, Gasgrid Finland CEO Olli Sipilä and Gasgrid Finland Chairman of the Board Kai-Petteri Purhonen signed the contract at the Government Palace in Helsinki in a ceremony also attended by Minister of Finance Annika Saarikko, Director-General for Energy Riku Huttunen, and U.S. Ambassador to Finland Douglas Hickey.

Under the time charter party agreement, Excelerate will deploy its FSRU Exemplar to provide regasification services in Southern Finland. The Exemplar has storage capacity of 150,900 m³ of LNG and can provide more than 5 billion cubic meters per year (bcm/y) of regasification capacity.

Per the cooperation agreement signed on May 4 by Gasgrid Finland and Estonia’s gas transmission operator Elering AS, the FSRU may be located in an Estonian port this winter if the port structures are not yet completed in Finland. The Governments of Finland and Estonia published a memorandum of understanding on April 29 agreeing to jointly lease an FSRU.

“Flexible access to LNG is a critical component of European energy security,” said Steven Kobos, President and Chief Executive Officer of Excelerate. “We are honored to collaborate with Gasgrid Finland to deliver essential energy infrastructure that will benefit Finland and more broadly the Baltic Sea region. As a leader in flexible LNG solutions, Excelerate is proud to support the goals of the U.S.-EU Task Force for Energy Security, which include diversifying LNG supplies in alignment with climate objectives."

Olli Sipilä, CEO of Gasgrid said, “We are glad that we were able to sign the agreement on such a fast schedule. It required the committed contribution of dozens of top professionals, for which I am very grateful. The project requires seamless cooperation between different actors as well in the future, and the project is progressing as planned. Leasing an LNG terminal vessel is extremely important, as it ensures security of supply for gas supplies in both Finland and Estonia. On the other hand, we see that there is a need for the terminal in the wider Baltic Sea region and it has been received with interest.”

About Excelerate Energy:

Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Founded in 2003 by George B. Kaiser, Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with an objective of delivering rapid-to-market and reliable LNG solutions to customers. Excelerate offers a full range of flexible regasification services from FSRU to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Manila, Rio de Janeiro, Singapore, and Washington, DC.

About Gasgrid Finland Oy:

Gasgrid Finland Oy is a Finnish state-owned company and transmission system operator with system responsibility. We offer our customers safe, reliable, and cost-efficient transmission of gases. We actively develop our transmission platform, services, and the gas market in a customer-oriented manner to promote the carbon-neutral energy and raw material system of the future. Find out more: www.gasgrid.fi/

Excelerate Contacts
Investors
Craig Hicks
Excelerate Energy
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Media
Stephen Pettibone / Frances Jeter
Sard Verbinnen & Co
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Gasgrid Finland Contacts
Olli Sipilä, CEO, Gasgrid Finland Oy, +358 40 589 4686, This email address is being protected from spambots. You need JavaScript enabled to view it.
Esa Hallivuori, Head of Gas market Unit, Gasgrid Finland Oy, +358 40 581 5027, This email address is being protected from spambots. You need JavaScript enabled to view it.

Media inquiries:
Engela Gyldén, Gasgrid Finland Oy, +358 45 885 1008, This email address is being protected from spambots. You need JavaScript enabled to view it.

Advanced Performance Materials leads the industry by developing the first non-fluorinated surfactant to produce APA grade fluoroelastomers

WILMINGTON, Del.--(BUSINESS WIRE)--$CC--The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, today announced an industry-leading sustainable process innovation to produce Advanced Polymer Architecture (APA) grade Viton™ fluoroelastomers, without the use of a fluorinated polymerization aid.​ With the introduction of this new technology and prior innovations, Chemours now has the capability to manufacture the entire Viton™ fluoroelastomers portfolio using a non-fluorinated surfactant, and continues its leadership in fluoroelastomer process and product development.

Viton™ APA grade fluoroelastomers enable products and applications critical for several markets​, including transportation, advanced electronics, industrial manufacturing, and oil and gas.​ Designers and engineers recognize the high performance of Viton™ APA grade fluoroelastomers for their ability to be durable while retaining their flexibility, strength, and shape in the most extreme environments.

“Chemours invests in research and development that drives sustainability across our portfolio and supports reaching our ambitious 2030 Corporate Responsibility Commitment goals,” said Denise Dignam, President of Advanced Performance Materials at Chemours. “This new process to produce APA grade Viton™ fluoroelastomers without the use of a fluorinated polymerization aid builds upon our legacy of product innovation and industry leadership. Thanks to the power of our chemistry, we continue to find opportunities to enable solutions that are better, safer, more reliable, and more sustainable while meeting customer and market needs​.”

As part of Chemours capability and commitment as a responsible supplier, we remain focused on the reliability of supply for our customers in the face of an evolving regulatory landscape. The new Viton™ APA grade fluoroelastomers have equivalent performance to our other fluoroelastomer products. The team successfully completed research into a non-fluorinated surfactant for this application. We are now entering the final phase with customer testing and validation to make it widely available. This advancement showcases our continued commitment to product and process innovation and to delivering sustainable solutions.

To learn more contact us by visiting, www.viton.com/en/contact-us.

About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,200 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.

For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn.

Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financial performance for our segments individually and our company as a whole, business plans, prospects, targets, goals and commitments, capital investments and projects and target capital expenditures, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost reductions or savings targets, plans to increase profitability and growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. In addition, the current COVID-19 pandemic has significantly impacted the national and global economy and commodity and financial markets, which has had and we expect will continue to have a negative impact on our financial results. The full extent and impact of the pandemic is still being determined and to date has included significant volatility in financial and commodity markets and a severe disruption in economic activity. The public and private sector response has led to travel restrictions, temporary business closures, quarantines, stock market volatility, and interruptions in consumer and commercial activity globally. Matters outside our control have affected our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 and in our Annual Report on Form 10-K for the year ended December 31, 2021. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.

INVESTORS
Jonathan Lock
SVP, Chief Development Officer
+1.302.773.2263
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Kurt Bonner
Manager , Investor Relations
+1.302.773.0026
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NEWS MEDIA
Cassie Olszewski
Media Relations and Financial Communications Manager
+1.302.219.7140
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HOUSTON--(BUSINESS WIRE)--PACIFIC COAST OIL TRUST (OTC–ROYTL) (the “Trust”), a royalty trust formed by Pacific Coast Energy Company LP (“PCEC”), announced today that there will be no cash distribution to the holders of its units of beneficial interest of record on May 27, 2022 based on the Trust’s calculation of net profits generated during March 2022 (the “Current Month”) as provided in the conveyance of net profits interests and overriding royalty interest (the “Conveyance”). Given the Trust’s receipt of insufficient monthly income from its net profits interests and overriding royalty interest during 2020 and 2021, the Trust had been expected to terminate by its terms at the end of 2021; however, as described further below, a court has issued a temporary restraining order enjoining the dissolution of the Trust until an arbitration tribunal can rule on the plaintiff’s request for injunctive relief. As described further below, based on information from PCEC, the likelihood of distributions to the unitholders in the foreseeable future is extremely remote. All financial and operational information in this press release has been provided to the Trustee by PCEC.

The Current Month’s distribution calculation for the Developed Properties resulted in operating income of approximately $2.5 million. Revenues from the Developed Properties were approximately $4.0 million, lease operating expenses including property taxes were approximately $1.6 million, and development costs were approximately $33,000. The average realized price for the Developed Properties was $110.26 per Boe for the Current Month, as compared to $126.68 per Boe in February 2022. Oil prices in recent months generally have remained elevated well above their 2020 and 2021 levels, and were higher in the Current Month as compared to November 2020. The cumulative net profits deficit amount for the Developed Properties declined approximately $2.0 million, to approximately $17.9 million in the Current Month versus approximately $19.9 million in the prior month.

The Current Month’s calculation included approximately $161,000 generated from the 7.5% overriding royalty interest on the Remaining Properties from Orcutt Diatomite and Orcutt Field. Average realized prices for the Remaining Properties were $106.86 per Boe in the Current Month, as compared to $87.20 per Boe in February 2022. The cumulative net profits deficit for the Remaining Properties decreased by approximately $369,000 and was approximately $1.4 million for the Current Month.

The monthly operating and services fee of approximately $96,000 payable to PCEC, together with Trust general and administrative expenses of approximately $75,000 together exceeded the payment of approximately $161,000 received from PCEC from the 7.5% overriding royalty interest on the Remaining Properties, creating a shortfall of approximately $10,000.

PCEC has provided the Trust with a $1 million letter of credit to be used by the Trust if its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. As of March 31, 2021, the letter of credit has been fully drawn down. Further, the trust agreement provides that if the Trust requires more than the $1 million under the letter of credit to pay administrative expenses, PCEC will, upon written request of the Trustee, loan funds to the Trust in such amount as necessary to pay such expenses. Under the trust agreement, the Trust may only use funds provided under the letter of credit or loaned by PCEC or another source to pay the Trust’s current accounts or other obligations to trade creditors in connection with obtaining goods or services or for the payment of other accrued current liabilities arising in the ordinary course of the Trust’s business. As the Trust has fully drawn down the letter of credit, PCEC will be loaning funds to the Trust to pay the expected shortfall of approximately $10,000, which would bring the total amount of outstanding borrowings (including the amount drawn from the letter of credit, which also must be repaid as provided in the trust agreement) from PCEC to approximately $3.4 million plus interest thereon, related to shortfalls from prior months. Consequently, no further distributions may be made to Trust unitholders until the Trust’s indebtedness created by such amounts drawn or borrowed, including interest thereon, has been paid in full.

Sales Volumes and Prices

The following table displays PCEC’s underlying sales volumes and average prices for the Current Month:

East Coyote and Sawtelle Fields Operations Update

As previously disclosed, WG Holdings SPV, LLC (“WG Holdings”), the operator of the East Coyote and Sawtelle fields, had not made any payments to PCEC for production from such fields since April 30, 2021, despite repeated requests. Because PCEC accrues for estimated future net income to be received from WG Holdings, PCEC previously passed through the Trust’s share of approximately $1 million in net income from these fields, which was approximately $830,000 net to the Trust, in the relevant monthly net profits interest calculations. As disclosed in last month’s press release, due to WG Holdings’ withholding of these past-due payments, PCEC reversed the cash flows attributable to these properties for the net profits interest calculation month of February 2022, pending the resolution of the payment issue with WG Holdings. As of the date of this press release, PCEC still has not received any payments from WG Holdings and is continuing to take steps to secure its interest in these fields; however, the outcome is uncertain.

Update on Estimated Asset Retirement Obligations

As previously disclosed, in November 2019, PCEC informed the Trustee that, as permitted by the Conveyance, PCEC intended to begin deducting its estimated asset retirement obligations (“ARO”) associated with the West Pico, Orcutt Hill, Orcutt Hill Diatomite, East Coyote and Sawtelle fields, thereby reducing the amounts payable to the Trust under its Net Profits Interests. ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face. PCEC engaged an accounting firm, Moss Adams LLP (“Moss Adams”), acting as third-party consultants, to assist PCEC in determining its estimated ARO, and on February 27, 2020, PCEC informed the Trustee that based on the analysis performed by Moss Adams, PCEC’s estimated ARO, as of December 31, 2019, was $45,695,643, which is approximately $10.0 million less than the undiscounted amount that was originally estimated before Moss Adams completed its analysis, as previously disclosed in the Trust’s Current Report on Form 8‑K filed on November 13, 2019. According to PCEC and its third-party consultants, its estimated ARO, which reflected PCEC’s assessment of current market conditions as of December 31, 2019 and changes in California law, was determined to be approximately $33.2 million for the Developed Properties and approximately $12.5 million for the Remaining Properties, or approximately $26.5 million and approximately $3.1 million net to the Trust, respectively, and PCEC has reflected these amounts beginning with the calculation of the net profits generated during January 2020. The accrual has resulted in a current cumulative net profits deficit of approximately $19.2 million, which must be recouped from proceeds otherwise payable to the Trust from the Trust’s Net Profits Interests. Therefore, until the net profits deficit is eliminated, the only cash proceeds the Trust will receive are pursuant to the 7.5% overriding royalty interest.

PCEC has informed the Trustee that in accordance with generally accepted accounting principles, PCEC will evaluate the ARO on a quarterly basis. As a result of that re-evaluation, the actual ARO incurred in the future may be greater or less than the estimated amounts provided by PCEC. As previously disclosed, PCEC has informed the Trustee that at year-end 2020, and following the end of each of the first, second and third quarters of 2021, in light of the accounting guidance under Accounting Standards Codification 410-20-35-3, which requires the recognition of changes in the asset retirement obligation due to the passage of time and revision of the timing or amount of the originally estimated undiscounted cash flows, PCEC re-evaluated the estimated ARO, which resulted in an aggregate increase to the ARO accrual for the Developed Properties by approximately $5.1 million, net to the Trust’s interest, and an aggregate increase to the ARO accrual for the Remaining Properties by approximately $288,000, net to the Trust’s interest.

Based on PCEC’s estimate of its ARO attributable to the Net Profits Interest, deductions relating to estimated ARO are likely to eliminate the likelihood of any distributions to Trust unitholders for the foreseeable future, as previously disclosed in the Trust’s Current Report on Form 8-K filed on November 13, 2019.

As previously disclosed, the Trust engaged Martindale Consultants, Inc. (“Martindale”), a provider of analysis and compliance review services to the oil and gas industry, to perform an independent review of the estimated ARO in the Moss Adams report that PCEC provided to the Trustee. The Trustee also has engaged an accounting expert to advise the Trustee regarding the accruals that PCEC has booked relating to its estimated ARO. As disclosed in the Trust’s Current Report on Form 8-K filed on December 29, 2020, Martindale has completed its review of the estimated ARO and on December 21, 2020 provided its analysis and recommendations to the Trustee. Based on Martindale’s recommendations provided in its report to the Trust, as disclosed in the Trust’s Current Report on Form 8-K filed on December 29, 2020, the Trustee requested that PCEC promptly make several adjustments to its calculations and methods of deducting ARO from the proceeds to which the Trust is otherwise entitled pursuant to its Net Profits Interests. PCEC has responded to the Trustee, indicating PCEC’s view that the adjustments would violate applicable contracts and accounting standards, and has therefore declined to make any adjustments to the estimated ARO calculation based on those requests and the recommendations of the Martindale report. The Trustee has concluded that it has taken all action reasonably available to it under the Trust’s governing documents in connection with PCEC’s ARO calculation and therefore has determined not to take further action at this time.

As described in more detail in the Trust’s filings with the SEC, the trust agreement provides that the Trust will terminate if the annual cash proceeds received by the Trust from the Net Profits Interests and 7.5% overriding royalty interest total less than $2.0 million for each of any two consecutive calendar years. Because of the cumulative net profits deficit—which PCEC contends is the result of the substantial reduction in commodity prices during 2020 due to the COVID-19 pandemic and PCEC’s deduction of estimated ARO beginning in the first quarter of 2020—the only cash proceeds the Trust has received since March 2020 have been attributable to the 7.5% overriding royalty interest. As a result, the total proceeds received by the Trust in each of 2020 and 2021 were less than $2.0 million. Therefore, the Trust had been expected to terminate by its terms at the end of 2021.

Status of the Dissolution of the Trust

As previously disclosed in the Trust’s Current Report on Form 8-K filed on December 23, 2021, on December 8, 2021, Evergreen Capital Management LLC (“Evergreen”) filed an Amended Class Action and Shareholder Derivative Complaint alleging a derivative action on behalf of the Trust and against PCEC in the Superior Court of the State of California for the County of Los Angeles (the “Court”).

On December 10, 2021, Evergreen filed a motion for temporary restraining order and for preliminary injunction, seeking to (1) enjoin the Trustee from dissolving the Trust, (2) enjoin PCEC from dissolving the Trust, (3) direct PCEC to account for all monies withheld from the Trust on the basis of ARO costs since September 2019, and (4) direct PCEC to place such monies in escrow.

On December 16, 2021, the Court granted Evergreen’s application for a temporary restraining order. Accordingly, the Trust did not dissolve at the end of 2021 and commence the process of selling its assets and winding up its affairs. On January 11, 2022, PCEC and Evergreen filed an agreed stipulation to stay the prosecution of Evergreen’s derivative claims pending an arbitration of such claims. On January 13, 2022, the Court signed an Order dissolving the December 16, 2021, temporary restraining order and entering a new temporary restraining order to preserve the status quo until a tribunal of three arbitrators appointed pursuant to the trust agreement could rule on any request by Evergreen for injunctive relief. On April 11, 2022, PCEC notified the Court that the arbitration panel had issued an order on April 7, 2022, denying Evergreen’s request for injunctive relief. That arbitration order, which was attached to PCEC’s notice to the Court, further stated that no steps could be taken to dissolve the Trust until further order. On April 13, 2022, Evergreen notified the Court that Evergreen had filed a motion for reconsideration with the arbitration panel that same day. That motion for reconsideration remains pending. Any dissolution of the Trust will not occur until after there is an order on Evergreen’s pending motion for reconsideration.

Production Update

PCEC has informed the Trustee that PCEC continues to strategically deploy capital to enhance production. Costs associated with returning wells to service must be recovered before cash flow to the Trust can be created. Although oil prices have improved significantly from their lowest levels in 2020, any monthly payments that PCEC may make to the Trust may not be sufficient to cover the Trust’s administrative expenses and outstanding debt to PCEC, and therefore the likelihood of distributions to the unitholders in the foreseeable future is extremely remote.

Overview of Trust Structure

Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California (the “Underlying Properties”). The Underlying Properties and the Trust’s net profits, and royalty interests are described in the Trust’s filings with the SEC. As described in the Trust’s filings with the SEC, the amount of any periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, development expenses, and the amount and timing of the Trust’s administrative expenses, among other factors. For additional information on the Trust, please visit https://royt.q4web.com/home/default.aspx.

Cautionary Statement Regarding Forward-Looking Information

This press release contains statements that are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are "forward-looking statements" for purposes of these provisions. These forward-looking statements include estimates of future asset retirement obligations, expectations regarding the impact of deductions for such obligations on future distributions to unitholders, estimates of future total distributions to unitholders, expectations regarding the outcome of the legal proceedings relating to the Trust and any future dissolution of the Trust, expectations regarding the impact of lower commodity prices on oil and gas reserve estimates, statements regarding the impact of returning shut-in wells to production, expectations regarding PCEC’s ability to loan funds to the Trust, and the amount and date of any anticipated distribution to unitholders. In any case, PCEC’s deductions of its estimated asset retirement obligations will have a material adverse effect on distributions to the unitholders and on the trading price of the Trust units and may result in the termination of the Trust. Any anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from PCEC with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will be significantly and negatively affected by low commodity prices, which declined significantly during 2020, could decline again and could remain low for an extended period of time as a result of a variety of factors that are beyond the control of the Trust and PCEC. Other important factors that could cause actual results to differ materially include expenses related to the operation of the Underlying Properties, including lease operating expenses, expenses of the Trust, and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither PCEC nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by Pacific Coast Oil Trust is subject to the risks described in the Trust's Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on March 8, 2019, and if applicable, the Trust’s subsequent Quarterly Reports on Form 10-Q. The Trust's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q are available over the Internet at the SEC's website at http://www.sec.gov.

Pacific Coast Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
1 (512) 236-6555

DALLAS--(BUSINESS WIRE)--Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client Holocene Drilling, Inc. to a Private Investor. The acquisition closed April 30, 2022.

Located in Puyallup, Washington, Holocene Drilling, Inc. (HDI) provides subsurface exploration drilling services. The Company specializes in geotechnical drilling, and environmental drilling. Further, HDI offers related services such as dewatering drilling and system installation. The Company’s other services include soil sampling, well abandonment, and sediment removal.

Over the course of its 25-year operating history, HDI has developed an outstanding reputation in its marketplace, and is well known for the reliability and quality of its service. The Company specializes in projects that need to be completed within tight schedules. HDI has successfully expanded its business through its relationships with engineering companies. The Company caters to infrastructure and environmental sector clients and specializes in geotechnical projects.

Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham, and his team, led by Sr. Managing Director Mergers & Acquisitions, Fred Zweifel, with support by Sr. Managing Director - Western Region, Lori Galloway closed the transaction. Executive Managing Director, Tom Braun established the initial relationship with HDI.

About Generational Equity

Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.

With more than 250 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.

The M&A Advisor named the company Investment Banking Firm of the Year three years in a row and Valuation Firm of the Year in 2020. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.

Carl Doerksen
972-342-0968
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HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of May 2022. Unitholders of record on May 31, 2022 will receive distributions amounting to $0.250358523 per unit, payable on July 29, 2022. The Trust received $254,904, which came from the New Mexico portion of the Trust’s San Juan Basin properties operated by Hilcorp San Juan LP, an affiliate of Hilcorp Energy Company, and $239,415, which came from the Hugoton Royalty properties operated by Scout Energy Group V, LP. No income was received in May 2022 from the Colorado portion of the Trust’s San Juan Basin properties operated by SIMCOE LLC, an affiliate of IKAV Energy Inc. or from the Colorado portion of the Trust’s San Juan Basin properties operated by Red Willow Production Company. This month, after the Trust’s withholding for cash reserves and the payment of administrative expenses, income from the distributable net profits was $466,566.

The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. In addition, as further described in the Trust’s most recent filing on Form 10-Q, distributions to unitholders are expected to be materially reduced during 2022, as the Trust intends to increase cash reserves to a total of $2.0 million to provide added liquidity.

Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.

This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, prices received by working interest owners and other risks described in the Trust’s Form 10-K for the year ended December 31, 2021. Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.

Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
http://mtr.q4web.com/home/default.aspx

Eco-friendly systems will reduce costs for businesses in agriculture and hospitality

VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #cgrnenergy--Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), ("Capstone," the "Company," “we” or “us”), a global leader in carbon reduction and on-site resilient green Energy as a Service (EaaS) solutions, announced today that Cal Microturbine (www.calmicroturbine.com), exclusive distributor for California, Hawaii, Nevada, Oregon and Washington, has secured six orders for C65 microturbines throughout the state of California. The 16 C65 units will be installed for customers in the agriculture, oil and gas, and hospitality industries. The systems are expected to be commissioned in early 2023.

In all cases, Capstone’s microturbine technology was selected for its ability to reduce energy costs while providing reliable, low emissions power. The microturbines will be fueled by natural gas but are capable of running on a 30% hydrogen blend, when customers have access to such fuel blends in the future. For the hospitality application, the systems will be configured for Combined Heat and Power (CHP), allowing the site to capture waste heat from the units to provide cost-effective heating for various on-site applications.

“Providing clean, reliable, and low-cost power to our clients is the foundation behind Cal Microturbine’s model. We believe that Capstone microturbines have the perfect anatomical structure to protect companies from the increased cost of power, from grid unreliability, and to help propel businesses forward in their pursuit to operate greener. This basket of projects in various industries underscores that California’s energy market agrees,” said Cal Microturbine Chief Executive Officer, Ryan Brown.

“We continue to draw on our long history of advanced engineering to be a cutting-edge provider of clean energy solutions and technology through our multiple product lines, each helping different types of customers in California and around the world to meet their energy needs while boosting the reliability of their energy supply, improving predictability of energy costs and lowering their carbon footprint,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy.

About Capstone Green Energy

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

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

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

Cautionary Note Regarding Forward-Looking Statements

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

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
This email address is being protected from spambots. You need JavaScript enabled to view it.

Renewable energy will be forecasted, sourced, delivered and utilized in order to meet or exceed energy sustainability goals

HOUSTON & PRINCETON, N.J.--(BUSINESS WIRE)--RPD Energy and Scoville Risk Partners are pleased to announce they have formed a strategic partnership, leveraging RPD Energy’s innovative renewable energy solutions with Scoville Risk Partners’ robust, strategy-led energy advisory and analytics platform.

The RPD Energy-Scoville Risk Partners partnership brings together deep, comprehensive skills in energy strategy and analytics, allowing renewable energy to be forecasted, sourced, delivered and utilized, thereby reinforcing a commitment to a carbon-zero world by facilitating 24/7 energy solutions to help support U.S. companies in meeting or exceeding their energy sustainability goals.

“With the addition of robust analytics and forecasting, we believe this partnership enables even more impactful renewable energy solutions for our clients,” said Eric Alam, RPD Energy CEO. “U.S. companies want a clear path to renewable energy leading to a 24/7 product. This partnership will allow us to succeed in enabling our clients to meet and even exceed their renewable energy goals.”

With the growing need for U.S. businesses to utilize and support the development of 24/7 renewable energy, acquiring dependable renewable energy for strategic resource planning is crucial. Both Scoville Risk Partners and RPD Energy recognize the need to support the development of renewable energy solutions to lead efforts in decarbonization and continue to serve as proactive players in fighting climate change.

By virtually connecting RPD Energy’s database of U.S. companies that require renewable energy solutions with Scoville Risk Partners’ deep energy analytics capabilities, the collaboration represents a strong, innovative way to serve the needs of U.S. businesses and propel 24/7 carbon-free energy into the marketplace.

Scoville Risk Partners is currently funded by ARPA-E (jointly with Princeton University and UCSB) to design next-generation probabilistic models of the behavior of large sets of renewables assets and to develop market structures that can accommodate high renewables footprint. This research has resulted in state-of-the-art simulation methodologies for future renewables production correlated realistically across assets.

“Partnering with RPD Energy to deliver robust renewable energy plans will allow us to provide the very best energy analytics solutions on which we’ll design and build powerful renewable energy plans for U.S. businesses,” said Glen Swindle, Managing Partner at Scoville Risk Partners. “Working as one team, we will unlock the full potential of 24/7 renewable energy and lead our clients on the best path for success in their sustainability and net zero goals.”

The RPD Energy-Scoville Risk Partners partnership is a powerful alliance. Scoville Risk Partners’ keen advisory abilities, along with its deep energy analytics expertise, is uniquely complimentary to renewable energy projects, providing lasting value.

About RPD Energy

RPD Energy, formerly Renewable Power Direct, markets directly sourced renewable electricity to large commercial and industrial customers. RPD was founded in 2014 and is authorized by the Federal Energy Regulatory Commission to act as a wholesale power marketer. RPD’s product offering includes facilitating the sourcing, contracting and delivery of renewable energy products to U.S. businesses in deregulated markets. RPD creates custom and unique renewable energy solutions by drawing upon their team’s one hundred plus years of combined experience in the energy industry. For more information, please visit www.rpdenergy.com.

About Scoville Risk Partners

Scoville Risk Partners specializes in valuation, risk management and portfolio analytics in the energy and commodities sectors, utilizing extensive commercial experience to provide a full range of outsourced analytic solutions and advisory services. Their proprietary technology solutions provide clients with efficient and accurate analysis of complex portfolios across a broad range of financial and physical assets. Scoville’s advisory services are a combination of quantitative skills and trading experience that put the company in a unique position to assist clients in asset acquisitions, enterprise valuation and transaction structuring. Scoville’s existing client base includes investment banks and utilities, private equity firms, independent generation owners and retail energy suppliers. For more information, please visit https://scovilleriskpartners.com.

Kerri Fulks
PR Support for RPD Energy
This email address is being protected from spambots. You need JavaScript enabled to view it.
214-549-9837