CEO Andrew Littlefair and CFO Robert Vreeland to present Clean Energy’s renewable natural gas strategic vision and financial outlook for the next five years

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp (Nasdaq: CLNE) today announced that Andrew J. Littlefair, president and CEO, and Robert Vreeland, chief financial officer, along with other executive management, will host a webcast to inform investors and analysts of the company’s strategic vision around its renewable natural gas (RNG) supply and the growing demand for RNG fuel by fleet customers in its North American station network.

The webcast will be held January 26, 2022, from 10:00a-12:00p EST and will include a management presentation followed by an opportunity for questions.

To register for Clean Energy’s RNG Day presentation, please go to:

https://event.on24.com/wcc/r/3609144/860088D41FB343F1D6168FA9CCC6A8A7

About Clean Energy

Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @ce_renewables on Twitter.

Clean Energy Contact:
Raleigh Gerber
949-437-1397
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Investor Contact:
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Over 68 GW of large-scale solar projects were acquired in 2021

AUSTIN, Texas--(BUSINESS WIRE)--#MA--Mercom Capital Group, a global clean energy communications and consulting firm, released its annual report on funding and merger and acquisition (M&A) activity for the solar sector in 2021.

Total corporate funding across the globe in the solar sector, including venture capital and private equity (VC), debt financing, and public market financing, came to $27.8 billion (B), 91% higher compared to $14.5B in 2020. Corporate funding in 2021 was the highest in ten years.

To learn more about Mercom’s 2021 Solar Funding and M&A Report, visit: https://mercomcapital.com/product/annual-q4-2021-solar-funding-ma-report

CHART: Solar Corporate Funding 2010-2021

“2021 was the best year for solar corporate funding as well as mergers and acquisitions since 2010. Financing activity bounced back strongly following a COVID-19-affected 2020. There was more money than ever chasing deals and more demand than supply of attractive companies and assets as organizations and funds look to fulfill their ESG and clean energy mandates,” said Raj Prabhu, CEO of Mercom Capital Group.

Global VC in the solar sector in 2021 came to $4.5B, 281% higher compared to $1.2B in 2020. This is also the highest VC funding in the sector since 2010. There were 11 VC funding deals over $100 million (M) apiece in 2021.

CHART: Solar VC Funding 2010-2021

Of the $4.5B in VC funding raised in 58 deals in 2021, $3.9B (89%) went to 43 Solar Downstream companies. Balance of System companies raised $219M; Concentrated Solar Power companies bought in $108M; Solar PV companies raised $91M; Solar Service Providers raised $35M, and Thin-Film technology companies raised $18M.

CHART: TOP VC/PE Funded Solar Companies 2021

The top VC funded companies in 2021 were GoodLeap (formerly Loanpal) with $1.6B in two transactions, Silicon Ranch Corporation with $775M, Aurora Solar, with $250M, Nexamp with $240M, Enpal with $175M, and GameChange Solar with $150M.

There were 154 VC and PE investors that participated in funding deals in 2021.

Public market financing was 49% higher in 2021 with $7.5B.

In 2021, announced debt financing came to $15.8B. Record securitization activity was recorded with $3.7B.

There were 126 M&A transactions in the solar sector in 2021 - the highest number ever recorded.

CHART: Solar Top 5 M&A Transactions in 2021

There were 280 large-scale solar project acquisitions in 2021. A record 69 GW of large-scale solar projects changed hands in 2021.

CHART: Solar Large-Scale Project Acquisitions 2010-2021

The report covered 367 companies and investors. It is 131 pages with 108 charts and tables.

Learn more: https://mercomcapital.com/product/annual-q4-2021-solar-funding-ma-report

About Mercom Capital Group

Mercom Capital Group is a global communications and consulting firm focused on clean energy. Mercom produces funding and market intelligence reports covering Solar and Battery Storage/Smart Grid/Efficiency. Mercom advises cleantech companies on new market entry, custom market intelligence and overall strategic decision-making. https://www.mercomcapital.com.

Wendy Prabhu
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Company volunteers to plug wells that were orphaned by their previous operators throughout the Front Range of Northern Colorado

DENVER--(BUSINESS WIRE)--Civitas Resources, Inc. (“Civitas” or the “Company”) today announced its commitment to voluntarily plug 42 wells that were orphaned by previous operators located in and around its operating areas in Adams, Arapahoe, Elbert, Larimer, and Weld counties of Colorado.

“Orphaned” wells are wells unrelated to Civitas that were abandoned by their former operators and whose cleanup would otherwise be the responsibility of the state of Colorado.

Project Canary, a Denver-based climate technology company, will join Civitas as the emissions monitoring partner for this endeavor.

“Civitas is committed to producing energy in the most responsible manner and will always strive to be part of the solution for challenges faced by our communities,” said Civitas Chairman Ben Dell. “Today’s announcement further demonstrates our culture of responsibility and accountability to our neighbors. Stepping up to plug orphaned wells is the right thing for our industry to do,” he said.

Orphaned wells are often of older vintage and, at times, left in poor condition. When wells are left unplugged, they can emit greenhouse gases such as methane and carbon dioxide, which amplify the effects of climate change. According to the Colorado Oil & Gas Conservation Commission (COGCC), Colorado has approximately 410 total orphaned wells.

Plugging abandoned wells is one of many important ways to accelerate Colorado’s commitment to reducing statewide greenhouse gas pollution, relative to 2005 levels, by 26% by 2025, 50% by 2030, and 90% by 2050.

“We are proud to eliminate these wells for the benefit of the communities where we live and work,” said Brian Cain, Civitas Chief Sustainability Officer. “As Colorado’s first carbon neutral oil and gas producer, this commitment, in partnership with Project Canary, aligns with our goal of reducing emissions that cause climate change throughout our state and advances climate leadership within our peer group and industry,” he said. “As we make this commitment, we call on our industry peers to similarly step up and help us tackle this statewide issue together.”

Project Canary is committed to providing continuous monitoring and TrustWell engineering services for all 42 wells, which is an expected value of $250,000. Project Canary will install methane monitoring devices before the commencement of P&A activities to establish the emission profile of wells. Once P&A activities are completed, the Project Canary monitoring devices will remain on-site to ensure no residual fugitive emissions from locations.

“As a mission-driven B-Corp, it’s always our policy to do well by doing good,” said Project Canary CEO and Co-Founder Chris Romer. “Helping Civitas and the state of Colorado clean up these legacy, abandoned wells is something our team is excited to participate in. Civitas has demonstrated their ESG leadership in this new era of energy development, and we’re proud to further our partnership with them.”

Civitas’ commitment includes plugging all orphaned wells located in and around the Company’s areas of operations that are known to the COGCC as of January 1, 2022. This commitment effectively includes all communities surrounding Denver and the Front Range of Northern Colorado. Municipalities where Civitas has ongoing operations or adjacent operations that are excluded from this list (e.g., Denver, Broomfield, Boulder) do not have any orphaned wells known to the COGCC.

About Civitas

Civitas Resources, Inc. is Colorado’s first carbon neutral oil & natural gas producer and is focused on developing and producing crude oil, natural gas and natural gas liquids in Colorado’s Denver-Julesburg Basin. The Company is committed to pursuing compelling economic returns and cash flow while delivering best-in-class cost leadership and capital efficiency. Civitas is dedicated to safety, environmental responsibility, and implementing industry-leading practices to create a positive local impact. For more information about Civitas, please visit www.civitasresources.com

Steven Emmen
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www.civitasresources.com

• Nouveau Monde receives the second-highest grade on the Sustainability Rating scale from Moody’s ESG Solutions¹
• Nouveau Monde is uniquely committed to supplying the EV and renewable energy industries with a Zero-Carbon Footprint anode material
• Having produced samples at 99.99% purity in 2021, Nouveau Monde plans in 2022 to complete and ramp up its commercial Phase-1 anode materials facility in Bécancour and advance its 42,000 tpa Phase-2 battery material plant
• The construction of the all-electric Matawinie graphite mine is continuing according to plan with the objective of supplying carbon-neutral graphite for the EV and battery markets
• All the above initiatives successfully support Nouveau Monde’s fully integrated and sustainable “mine-to-battery-materials” business model and maintaining the Company’s industry-leading ESG profile

MONTRÉAL--(BUSINESS WIRE)--$NMG #ESG--On the heels of a positive assessment of its ESG performance, Nouveau Monde Graphite Inc. (“Nouveau Monde” or the “Company”) (NYSE: NMG, TSXV: NOU) releases its 2022 goals for its project and corporate development. The Company expects to complete the deployment of its Phase-1 operations in the first half of this year while further advancing the planning and construction of its Phase-2 Bécancour battery material plant and Matawinie graphite mine towards a targeted integrated production capacity of 42,000 tonnes per annum (“tpa”) of carbon-neutral anode material for the growing lithium-ion battery market.

Following the issuance of its inaugural ESG Report, Nouveau Monde sought independent assessment of its sustainability performance. The Company is pleased to report that Moody’s ESG Solutions has provided a Sustainability Rating of A2 (‘Robust’), the second-highest grade on its rating scale, to Nouveau Monde.

Arne H Frandsen, Chair of Nouveau Monde, commented: “Moody’s independent assessment attests to our industry-leading ESG performance. I am delighted to see that our team is being recognized for our sustainability and ESG initiatives. From the outset, Nouveau Monde made a commitment to all our stakeholders, including our employees and host communities, to operate as a “best-of-class” company when it comes to ethical and equitable business practice.”

2022 Goals: Stepping Up of Phase 2 Development

A testament to the Company’s responsible and sustainable focus, the ESG rating will guide Nouveau Monde in strengthening its practices as it enters a decisive year for scaling up its anode material production. The year 2022 is indeed projected to be pivotal in Nouveau Monde’s development with the following goals set by management for the Company:

• Continuation of safe operations and environmental stewardship at the Company’s Phase-1 facilities and construction sites, anchored in Nouveau Monde’s zero-harm philosophy.
• Construction and commissioning of the Company’s Phase-1 coating line with a 2,000-tpa nameplate capacity to produce coated spherical purified graphite (“CSPG”), the final stage of value-added transformation for graphite materials to enter battery manufacturing.
• Completion of a NI43-101 bankable feasibility study for the large-scale Phase-2 Bécancour battery material plant and the Matawinie graphite mine to reflect Nouveau Monde’s integrated business model for comprehensive planning, cost projection, and development framework.
• Signing of a long-term strategic agreement with an anchor customer for the Company’s Phase-2 CSPG production.
• Advancement of Phase-2 Matawinie mine construction through detailed engineering, procurement, and on-site civil works.
• Increased production of custom advanced graphite materials meeting battery and electric vehicles (“EV”) makers’ specifications with a focus on quality, high purity, lot-by-lot consistency, and battery-grade performance.
• Structuring and securing project financing for the construction and development of Nouveau Monde’s Phase 2: the Bécancour battery material plant and the Matawinie graphite mine.
• Continued dialogue and engagement with local stakeholders, including the First Nations communities of Manawan (Atikamekw) and Wôlinak (Abénakis), to promote a shared perspective, maximize local benefits, and enhance projects’ integration within their communities.
• Delivering on the Company’s carbon neutrality commitment via a Climate Action Plan and pursuing its Sustainability Action Plan to elevate Nouveau Monde’s policies, programs, and partnerships, and improve its global ESG performance.

Eric Desaulniers, Founder, President, and CEO of Nouveau Monde, added: “The marketplace is preparing itself for the ramp up in EV and energy storage systems production to meet the rapidly growing appetite of consumers and governments for zero-emission solutions. This is an ideal window for Nouveau Monde. I am confident in the team we have assembled to lead this next phase of our growth, with an uncompromising focus on safety, discipline, and efficiency to meet the market’s demand for responsibly-extracted, environmentally-transformed, and fully traceable battery materials.”

Highlights of Nouveau Monde’s ESG Performance

In its opinion on Nouveau Monde’s sustainability, Moody’s highlighted the integration of ESG factors in the Company’s strategy, operations, and risk management, and its robust performance on issues related to reputation and legal security. Moody’s also noted Nouveau Monde’s “outstanding efforts to promote health and safety of direct and indirect workforce, advanced management of impacts on biodiversity, as well as advanced promotion of the involvement of local communities and local economy” (Moody’s, December 2021). Implementation of human capital management systems, integration of external audits, and development of quantitative targets were among the avenues for improvement.

Furthermore, Moody’s assessed that the Company had the opportunity to “make a major contribution to some UN sustainable development goals” thanks to its projected production of green battery materials supporting electrification and renewable energies.

Moody’s rating can be consulted here while Nouveau Monde’s ESG Report disclosing its managerial approach to addressing material topics and detailing sustainability indicators aligned with the United Nations’ Sustainable Development Goals, the Global Reporting Initiative, and Sustainability Accounting Standards Board is accessible here.

About Nouveau Monde

Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, Nouveau Monde aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com

Subscribe to our news feed: https://NMG.com/investors/#news

Cautionary Note Regarding Forward-Looking Information

All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the timeline of the various initiatives described in this press release, the intended results of the Company’s development plans, the positive impact of the foregoing on project economics, the Company’s intended production capacity of carbon-neutral anode material, the growth of the lithium-ion battery market, future demand for EV and energy storage system, the Company’s commitments and performance with respect to its ESG initiatives, including the electrification of the Matawinie graphite mine, the Company’s growth, the Company’s 2022 goals and the achievement of same, and those statements which are discussed under the “About Nouveau Monde” paragraph and elsewhere in the press release which essentially describe the Company’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation of the equipment supporting the production, the Company’s business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.

Forward-looking information and statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking information and statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company’s assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company’s businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments’ responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Further information regarding the Company is available in the SEDAR database (www.sedar.com), and for United States readers on EDGAR (www.sec.gov), and on the Company’s website at: www.NMG.com

¹ This Sustainability Rating was originally conducted by V.E, which is now part of Moody’s ESG Solutions

Julie Paquet
VP Communications & ESG Strategy
+1-450-757-8905 #140
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Deployment accelerates Bolt’s mission to be carbon negative by 2023 and IKEA Canada’s goal to reach 100 percent zero-emission deliveries by 2025

TORONTO--(BUSINESS WIRE)--Bolt Logistics (“Bolt”), a leading Canadian technology-enabled ecommerce fulfillment and last-mile delivery provider, is proud to announce that it will deploy 30 electric vehicles (EVs) across the country in 2022, in partnership with leading global home furnishing retailer IKEA Canada (“IKEA”). This sustainable approach to delivery and ecommerce operations will help bring both companies closer to their industry-leading carbon footprint minimization goals, including Bolt aiming to be carbon negative by 2023 and IKEA Canada striving to reach 100 percent zero-emission deliveries by 2025. This also marks one of Canada’s largest zero-emissions, medium-duty vehicle distributions for commercial deliveries to date.

Bolt’s first zero emission delivery trucks have officially hit the road with more to follow across British Columbia, Quebec and Ontario early this year. This initiative propels both Bolt and IKEA Canada forward within the Canadian logistics, delivery and ecommerce landscape by improving relationships with progressive clients intending to decarbonize their supply chain.

“Bolt is committed to being a planet positive business. We’re demonstrating this commitment through our focus on becoming a carbon-negative logistics company by the end of 2023. This involves making a conscious investment to help ensure we can provide a zero-emission, carbon-negative last-mile delivery solution, while funding carbon sequestering initiatives around the globe,” said Mark Ang, CEO of Bolt Logistics. “We are thrilled to be working with IKEA Canada on this initiative and look forward to continuing to collaborate on building smarter and greener supply chains.”

“With transportation being one of the largest contributors of the global climate crisis, IKEA Canada is committed to eradicating carbon emissions and electrifying its last-mile delivery service, utilizing the benefits of electric vehicles to further transform the market,” said Melissa Barbosa, Head of Sustainability at IKEA Canada. “The value-add of deploying zero emission vehicles accelerates our goal of becoming more accessible, affordable, and sustainable for our customer network.”

By offering customer-centric solutions and enhanced eco supply chain structures, Bolt and IKEA Canada are one step closer to achieving their aggressive emission reduction goals. Bolt is also taking this ambition beyond the Canadian border with an expansion into the United States planned over the next few months. This will help minimize not only the company’s own carbon footprint but also the industry’s on a global scale.

About Bolt Logistics
Founded in 2017, Bolt Logistics (“Bolt”) is a leading Canadian technology-enabled ecommerce fulfillment and last-mile delivery provider for businesses of all sizes – from small direct-to-consumer brands to large national retailers. Bolt provides a customer-centric and sustainable approach to fulfillment, including reliable warehousing, pick and pack, shipping, and last-mile delivery. By operating as an extension of every customer’s team, Bolt delivers best-in-class services every step of the way, ensuring faster, more cost-effective, and complete customer deliveries. For more information on why Canada’s largest box mattress companies, furniture businesses, and ecommerce entrepreneurs trust Bolt as their fulfillment partner, visit gobolt.com.

About IKEA Canada
Founded in 1943 in Sweden, IKEA is a leading home furnishing retailer, offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible can afford them. IKEA Canada is part of Ingka Group which operates 389 IKEA stores in 32 countries, including 14 in Canada. Last year, IKEA Canada welcomed 31 million visitors to its stores and 117 million visitors to IKEA.ca. IKEA Canada operates business through the IKEA vision - to create a better everyday life for the many people and does so through its local community efforts and sustainability initiatives. For more information on IKEA Canada, please visit IKEA.ca.

Jennifer Farr
Kaiser & Partners
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416-910-5221

Partnership signals the convergence of digital and energy infrastructure, creating the leading provider of sustainable, integrated smart cities solutions

SAN FRANCISCO--(BUSINESS WIRE)--Generate Capital and Ubiquity Management announced today the launch of a smart cities partnership to build high-quality fiber-to-the-premises networks and complementary sustainable digital infrastructure. Pairing Generate’s infrastructure-as-a-service model and the Ubiquity team’s expertise in fiber and broadband offers municipalities and communities comprehensive access to digital and energy transition infrastructure solutions.

In this transaction, Generate has acquired Ubiquity and its existing fiber networks in the Dallas-Fort Worth and Austin metro areas and in North County, San Diego, where Ubiquity currently serves over 8,400 customers. The partnership, which also includes founding Ubiquity shareholder Montage, expects to invest more than $400 million in current projects to fund the completion of contiguous networks and will expand to serve additional cities.

This transaction expands Generate’s energy transition and sustainability-focused platform into smart cities and digital infrastructure. It accelerates Ubiquity’s existing fiber broadband operations, and provides customers with a complete set of digital and sustainable energy solutions. Generate already owns and operates over 2,000 sustainable infrastructure assets across the power, waste, water and mobility sectors.

"Cities have been asking for a much more integrated approach to their digital and clean energy needs as we transition from the old model, and we are excited to grow our platform with the innovative Ubiquity team to bring these communities a great answer," said Scott Jacobs, chief executive and co-founder of Generate Capital. "Since inception, we have pioneered the four “D’s” of the Infrastructure Revolution – Decarbonized, Democratized, Decentralized, and Digitized – and this partnership serves as a great case study in that momentous shift where digital and energy infrastructure converge."

Ubiquity, led by co-founders Jamie Earp and Ajay Ghanekar, brings 50+ years of combined experience developing digital infrastructure assets. Members of Ubiquity’s leadership team have expertise in development, engineering, investment and operations and previously served in leadership roles at Verizon, Sprint, Consolidated and Fair Point Communications.

“Our partnership combines Ubiquity’s industry-leading experience in digital infrastructure with Generate’s sustainability expertise and track record of partnering with both innovators and communities for the long term,” said Andrew Marino, senior managing director at Generate. “This team has the track record and capabilities to bring holistic solutions to municipalities at the forefront of digital infrastructure and climate solutions and a shared mission to rebuild the world for the better. Ubiquity and Generate will work tirelessly to meet the diverse and long-term needs of our communities.”

Ubiquity’s open-access fiber networks are designed to accommodate all current and future fiber uses, including long-term contracts with broadband providers, mobile carriers, government entities, utilities, edge computing, and any other industry where ubiquitous wired and wireless connectivity is or will be critical to success.

“Since we launched Ubiquity in 2019, our driving mission has been to invest in communications infrastructure that can empower customers, communities and the citizens they serve,” said Jamie Earp, co-founder and managing partner at Ubiquity. “Generate shares our mission and values and their commitment to Ubiquity will allow our operationally focused management team to accelerate connectivity solutions that drive resource efficiency, climate resilience and greater digital equity. Generate’s long term investment approach not only supports Ubiquity's operating mindset and capabilities, but allows us to do what we do at much lower cost than many capital alternatives.”

“Ubiquity’s partnership with Generate is the perfect next step to accelerate the growth of the Ubiquity platform and continue our shared mission to bring broadband solutions to more customers and communities. We are honored to continue to invest alongside Generate for the years to come,” said Christian Scharosch, co-founder of Ubiquity and managing director at Montage, a co-investor in the partnership.

The transaction is subject to customary regulatory approvals. Greenberg Traurig and Morrison & Foerster served as legal advisors to Generate. Thompson Hine served as legal advisor to Ubiquity. Kirkland & Ellis served as legal advisor to Montage.

About Generate

Generate Capital, PBC is a leading sustainable infrastructure company driving the infrastructure revolution. Generate builds, owns, operates and finances sustainable infrastructure projects in clean energy, water, waste, transportation and digital infrastructure. Founded in 2014, Generate partners with over 40 technology and project developers and owns and operates more than 2,000 assets globally. Generate is the one-stop shop offering pioneers of the infrastructure revolution tailored funding and support needed to get projects built. Our Infrastructure-as-a-Service model delivers affordable, reliable and sustainable resources to over 2,000 customers, companies, communities, school districts and universities. Together, we are rebuilding the world. For more information, please visit www.generatecapital.com.

About Ubiquity

Ubiquity invests, develops and manages digital communications infrastructure throughout the United States. Ubiquity partners with ISPs, wireless carriers, utilities, and municipalities to deliver connectivity and sustainability solutions in underserved communities. Ubiquity’s mission focuses on providing customer choice and spurring competition, both essential components of empowering communities for the future. Please visit www.ubiquitygp.com/ for more information.

About Montage

Montage, an affiliate of 1248 Holdings, is an investment firm that empowers the next generation of asset managers. Montage provides capital and operational support to emerging managers that display promising and scalable business potential. By using an incubation approach, Montage serves as a full-suite resource partner bringing emerging managers to the institutional marketplace. Montage brings together a diverse group of investment managers – each offering a distinct approach to money management that reflects many decades of professional experience and proprietary investment strategies across global asset classes. The firm's organizational approach is to allow individual investment managers to retain their boutique approach, talent and culture that have proven records of adding value to portfolios and meeting client objectives. Visit www.montageinvestments.com.

Media Contact
Emily Chasan
(415) 480-2914
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• Honda joins General Motors and Hyundai Motor Company as the third major global car manufacturer to enter into an “A-sample” joint development agreement with SES.
• Honda previously agreed to be the largest single investor in the $275 million PIPE financing in connection with the pending SES-Ivanhoe business combination.
• Honda is joining industry leaders General Motors, Hyundai Motor Company, Geely Holding Group, SAIC Motor and Foxconn as the sixth major global car manufacturer to invest in the combined company.

BOSTON--(BUSINESS WIRE)--SES Holdings Pte. Ltd. (SES), a global leader in the development and production of high-performance hybrid lithium-metal (Li-Metal) rechargeable batteries for electric vehicles (EVs) and other applications, announced today that it entered into a Joint Development Agreement with Honda Motor Co. Ltd. (Honda) to develop Li-Metal batteries as part of Honda’s next generation battery strategy. The partnership marks a key milestone on SES’ strategic roadmap to achieve commercial production of hybrid Li-Metal batteries for electric vehicles. Honda joins General Motors and Hyundai Motor Company as the third major global car manufacturer to enter into an “A-sample” joint development agreement with SES.

Honda previously agreed to invest in the combined company as part of the common stock private investment in public equity (“PIPE”) financing in connection with SES’ pending business combination with Ivanhoe Capital Acquisition Corp. (NYSE: IVAN) (“Ivanhoe”). Honda agreed to join industry leaders General Motors, Hyundai Motor Company, Geely Holding Group, SAIC Motor and Foxconn as the sixth major international car manufacturer to invest in the combined company. Immediately following the business combination, PIPE proceeds are expected to total $275 million and Honda will be the largest single PIPE investor owning approximately 2% of the outstanding shares of the combined company (assuming no redemptions by public shareholders of Ivanhoe).

Honda has been looking into several options toward the realization of high-capacity, safe and low-cost next-generation batteries. The joint development agreement, following Honda’s previous agreement to invest in the PIPE, is a testament to Honda’s long-term plan to leverage key technologies SES has developed to broaden options for next-generation batteries for Honda.

“We are thrilled to have Honda sign a joint development agreement following its agreement to invest in the PIPE, and look forward to building upon this important strategic partnership,” said Qichao Hu, SES Founder and Chief Executive Officer “Our innovative hybrid lithium-metal technology is a compelling solution for combining higher energy density with industry leading performance characteristics and high manufacturability. As we look beyond the expected close of the business combination, through the support of Honda and all of our strategic and financial investors, we are well positioned to execute our development and production plans to bring next generation battery technology to global EV manufacturers.”

“The battery is an essential component of EVs, and Honda has been concurrently looking into several options toward realization of high-capacity, safe and low-cost next-generation batteries,” says Shinji Aoyama, Managing Executive Officer in Charge of Electrification, Honda Motor Co., Ltd. “Recognizing the advanced technologies of SES, Honda signed a joint development agreement with SES with the aim of establishing a good relationship with SES and expeditiously generating substantial achievements through our joint research activities. Honda will continue to establish collaborative relationships with companies which have advanced technologies, as needed, to offer highly-competitive and attractive EVs to our customers.”

As previously disclosed, in July 2021, SES announced plans to list on the New York Stock Exchange (NYSE) through a business combination with Ivanhoe. Upon the closing of the transaction, the combined company will be named SES AI Corporation. The parties expect that the Class A common stock and warrants of the combined company will be listed on the NYSE under the ticker symbols “SES” and “SESW,” respectively. On January 10, 2022, SES announced that the U.S. Securities and Exchange Commission (the “SEC”) declared effective Ivanhoe’s registration statement on Form S-4 (File No. 333-258691) related to the proposed business combination of Ivanhoe and SES, and Ivanhoe has mailed a definitive proxy statement/prospectus to its shareholders and public warrant holders of record as of December 14, 2021 who are entitled to vote at its Extraordinary General Meeting of Shareholders and Special Meeting of Warrant Holders to be held on February 1, 2022 at 9:00 a.m. ET and 9:15 a.m. ET, respectively, to approve the proposed business combination, certain changes to Ivanhoe’s warrants and the other matters proposed to be voted on at such meetings.

About SES

SES is a global leader in development and production of high-performance Li-Metal rechargeable batteries for electric vehicles (EVs) and other applications. Founded in 2012, SES is an integrated Li-Metal battery manufacturer with strong capabilities in material, cell, module, AI-powered safety algorithms and recycling. Formerly known as SolidEnergy Systems, SES is headquartered in Boston and has operations in Singapore, Shanghai, and Seoul. To learn more about SES, please visit: ses.ai/investors/

About Ivanhoe Capital Acquisition Corp.

Ivanhoe Capital Acquisition Corp. (NYSE: IVAN) is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Ivanhoe was formed to seek a target in industries related to the paradigm shift away from fossil fuels towards the electrification of industry and society. To learn more about Ivanhoe, please visit: ivanhoecapitalacquisition.com

Forward-looking statements

All statements other than statements of historical facts contained in this press release are “forward-looking statements.” Forward-looking statements can generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” and other similar expressions that predict or indicate future events or events or trends that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the business combination and the related PIPE financing, the timing of the business combination, the Extraordinary General Meeting of Ivanhoe’s shareholders and the Special Meeting of Ivanhoe’s warrant holders, statements regarding the development and commercialization of SES’s products, including in connection with Joint Development Agreements, the amount of capital and other benefits to be provided by the business combination and the related PIPE financing, estimates and forecasts of other financial and performance metrics, and projections of market opportunity and market share. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of SES's and Ivanhoe's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of SES and Ivanhoe. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the business combination or that the approval of the shareholders of SES or Ivanhoe is not obtained; the failure to realize the anticipated benefits of the business combination; risks relating to the uncertainty of the projected financial information with respect to SES; risks related to the development and commercialization of SES's battery technology and the timing and achievement of expected business milestones; the effects of competition on SES's business; the risk that the business combination disrupts current plans and operations of Ivanhoe and SES as a result of the announcement and consummation of the business combination; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees; risks relating SES’s history of no revenues and net losses; the risk that SES’s joint development agreements and other strategic alliances could be unsuccessful; risks relating to delays in the design, manufacture, regulatory approval and launch of SES’s battery cells; the risk that SES may not establish supply relationships for necessary components or pay components that are more expensive than anticipated; risks relating to competition and rapid change in the electric vehicle battery market; safety risks posed by certain components of SES’s batteries; risks relating to machinery used in the production of SES’s batteries; risks relating to the willingness of commercial vehicle and specialty vehicle operators and consumers to adopt electric vehicles; risks relating to SES’s intellectual property portfolio; the amount of redemption requests made by Ivanhoe's public shareholders; the ability of Ivanhoe or the combined company to issue equity or equity-linked securities or obtain debt financing in connection with the business combination or in the future and those factors discussed in Ivanhoe's Annual Report on Form 10-K filed with the SEC on March 31, 2021 and in Ivanhoe’s proxy statement/prospectus relating to the proposed business combination, filed with the SEC on January 7, 2022, including those under “Risk Factors” therein, and other documents of Ivanhoe filed, or to be filed, with the SEC relating to the business combination. If any of these risks materialize or Ivanhoe's or SES's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Ivanhoe nor SES presently know or that Ivanhoe and SES currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Ivanhoe's and SES's expectations, plans or forecasts of future events and views only as of the date of this press release. Ivanhoe and SES anticipate that subsequent events and developments will cause Ivanhoe's and SES's assessments to change. However, while Ivanhoe and SES may elect to update these forward-looking statements at some point in the future, Ivanhoe and SES specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Ivanhoe's and SES's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Additional Information

This press release relates to the proposed business combination between Ivanhoe and SES. This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Ivanhoe has filed a definitive proxy statement and a form of proxy card with the SEC in connection with the solicitation of proxies for the Extraordinary General Meeting of Ivanhoe's shareholders (the “Definitive Proxy Statement”). The Definitive Proxy Statement has been sent to all Ivanhoe shareholders. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom. Ivanhoe will also file other documents regarding the proposed business combination with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF IVANHOE ARE URGED TO READ THE REGISTRATION STATEMENT, THE DEFINITIVE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION.

Investors and security holders are able to obtain free copies of the registration statement, the Definitive Proxy Statement and all other relevant documents filed or that will be filed with the SEC by Ivanhoe through the website maintained by the SEC at www.sec.gov. The documents filed by Ivanhoe with the SEC also may be obtained free of charge upon written request to Ivanhoe Capital Acquisition Corp., 1177 Avenue of the Americas, 5th Floor, New York, New York 10036.

Participants in the Solicitation

Ivanhoe, SES and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Ivanhoe’s shareholders in connection with the proposed Business Combination. You can find information about Ivanhoe’s directors and executive officers and their interest in Ivanhoe can be found in the Definitive Proxy Statement and Ivanhoe’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021. A list of the names of the directors, executive officers, other members of management and employees of Ivanhoe and SES, as well as information regarding their interests in the business combination, are contained in the Definitive Proxy Statement, and any changes will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC. Additional information regarding the interests of such potential participants in the solicitation process may also be included in other relevant documents when they are filed with the SEC. You may obtain free copies of these documents from the sources indicated above.

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Eight start-ups to speed development of decarbonization, sustainable technology solutions through involvement in the ‘IgniteX Climate Tech Accelerator’

OVERLAND PARK, Kan.--(BUSINESS WIRE)--Recognizing the world needs innovative solutions to counter the ongoing climate crisis, Black & Veatch has selected eight promising start-ups to join its IgniteX Climate Tech Accelerator program, which provides funding and support to companies on the cutting edge of climate technology.

The eight start-ups were selected from a pool of nearly 100 applicants, and are focused on sustainability solutions ranging from carbon capture and resilient distributed infrastructure to textile recycling and fertilizer production. They come from various locations across the United States and Canada. Each company will work closely with Black & Veatch on the further design, development and realization of their proposed climate technology solution.

Participants will be offered opportunities for mentorship, access to the company’s vast network of subject matter experts, product testing, pitch development, investor introductions and funding from Black & Veatch. The 12-week program will culminate in early May with an in-person Demo Day, where the entrepreneurs present their solutions, outlining their value proposition and market opportunity.

“The IgniteX Accelerator strives to foster creative ideas and solutions to the global challenges that are transforming our company, our clients and the world we live in,” said Ryan Pletka, vice president of Innovation at Black & Veatch. “In our third cohort of the IgniteX program, which focuses on the new and growing challenges associated with climate change, we are seeing some of the most intriguing ideas yet. I can’t wait to see how Black & Veatch helps these startups make monumental strides in climate technology.”

The companies joining the 2021-2022 IgniteX Climate Tech Accelerator include:

• Carbon Upcycling Technologies, which converts waste CO₂ into high-performance additives enabling the production of low-carbon concrete.
• Circ, which is on a mission to power the clean closet with patented technology that recycles global fashion waste back into textiles.
• ElectricFish, which develops and deploys energy storage-integrated electric vehicle charging to power a sustainable, resilient and equitable energy future.
• Next Hydrogen, which has revolutionized electrolyzer cell design to maximize current density and dynamic response, effectively providing a path to the lowest levelized cost of green hydrogen.
• Nitricity Inc., which produces nitrogen fertilizer from air, water and renewable electricity.
• Twelve, the carbon transformation company, which is eliminating emissions by transforming CO2 into critical chemicals, materials and fuels.
• ReJoule, which maximizes the value of electric vehicle batteries with its advanced battery diagnostics technology.
• Revterra, whose kinetic battery offers a modular, cost-effective, and highly scalable solution to the increasingly important energy storage market –bringing a new spin to the energy transition.

Editor’s Notes:

• Learn more about Black & Veatch’s IgniteX Climate Tech Accelerator
• The IgniteX program is the external branch of the Black & Veatch’s Growth Accelerator, which has internal and external programs to discover unique opportunities and drive their rapid, profitable growth.
• The Climate Tech Accelerator marks Black & Veatch’s third IgniteX Challenge. Past challenges include the inaugural Clean Tech Accelerator in 2019 and the COVID Response Accelerator in 2020. Since its creation, the IgniteX Challenge has received more than 500 applications, given $1 million in grants and in-kind services, and made 25 investments or partnerships with startup companies.

About Black & Veatch

Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow us on www.bv.com and on social media.

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DUBLIN--(BUSINESS WIRE)--The "Enhanced Geothermal Systems Market - A Global and Regional Analysis: Focus on Resource Type, End User, Depth, Simulation Method, Power Station Type, Supply Chain Analysis, Country-Wise Analysis, and Impact of COVID-19 - Analysis and Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

The global enhanced geothermal system (EGS) market is estimated to be $1,841.4 million in 2020. It is projected to reach a value of $3,673.1 million by 2030, at a CAGR of 7.1% during the forecast period (2022-2030).

Enhanced Geothermal Systems

Geothermal energy is the thermal energy in the Earth's crust that originates from the formation of the planet and radioactive decay of materials in currently uncertain but possibly roughly equal proportions. A geothermal resource requires fluid, heat, and permeability to generate electricity:

• Fluid - Sufficient fluid must exist naturally or be pumped into the reservoir.
• Heat - The Earth's temperature naturally increases with depth and varies based on geographic location.
• Permeability - In order to access heat, the fluid must come into contact with the heated rock, either via natural fractures or through stimulating the rock.

Conventional hydrothermal resources contain all three elements naturally. Increasingly, however, at places where no natural geothermal resources in the form of steam or hot water exist, the heat of the rock can be used by creating artificial permeability for fluids extracting that heat. This type of geothermal system is known as enhanced geothermal system (EGS).

Companies Mentioned

• Enel SpA
• Ormat Technologies, Inc.
• AltaRock Energy, Inc.
• Royal Dutch Shell Plc
• Kenya Electricity Generating Company Limited
• BESTEC GmbH
• SA Geothermie Bouillante
• Fuji Electric Co., Ltd.
• Calpine Corporation
• Energy Development Corporation
• Mitsubishi Heavy Industries, Ltd
• Toshiba Corporation
• Ansaldo Energia S.p.A.
• Siemens AG

Market Dynamics

Growth Drivers

• Reliable Technology to Produce Continuous Baseload Power
• Rise in Energy Demand Due to Increase in Population and Rapid Industrialization
• Emission Reduction along with Energy Security
• Reliable and Controllable Source of Power

Challenges

• Risks Associated with Exploratory Drilling
• Induced Seismicity
• High Gestation Period for the Plants
• High Initial Costs

Opportunities

• Geothermal Development in the Country Of Africa Provides a Decent Market Opportunity
• Geothermal Plants Combined with Natural Gas Power Plants
• Improving the Efficiency of the Current Generating Sites
• Huge Projects in Indonesia and the Philippines Presents a Market Opportunity to Tap Into

Key Questions Answered in the Report

• What are the driving factors for the global EGS market from 2019 to 2030, and which factors are impeding the growth of the global EGS market?
• Which country are the prime adopters of these systems, and what could be the possible penetration of GS and EGS systems in renewable energy generation in different countries and regions? What are the future plans of renewable energy generation pertaining to the EGS system market?
• Who are the major players, and what strategic measures are being taken to increase their presence and market share?
• What could be the possible penetration of GS and EGS systems renewable energy generation in different countries and regions?
• What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?

For more information about this report visit https://www.researchandmarkets.com/r/wi5iko

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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• Fourth Quarter 2021 Revenue: $3.50 billion; up 28%
• Fourth Quarter 2021 Operating Income: $322.5 million; up 55%
• Fourth Quarter 2021 EPS: $2.28 vs. $1.44; up 58%

• Full Year 2021 Revenue: $12.17 billion; up 26%
• Full Year 2021 Operating Income: $1.05 billion; up 47%
• Full Year 2021 EPS: $7.14 vs. $4.74; up 51%

LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) announced fourth quarter 2021 U.S. GAAP (United States Generally Accepted Accounting Principles) net income of $242.2 million, or diluted earnings per share of $2.28 vs. fourth quarter 2020 net earnings of $154.0 million, or diluted earnings per share of $1.44.

Total operating revenue for the current quarter was $3.50 billion, compared with $2.74 billion for the fourth quarter 2020. All segments contributed to the revenue growth versus the prior year period. Truckload (JBT) and Integrated Capacity Solutions™ (ICS) grew revenue 85% and 26% year over year, respectively, as both segments were able to source capacity for customers by leveraging the talents and skills of our people and our investments in technology across the organization, including the Marketplace for J.B. Hunt 360°^®. Intermodal (JBI) revenue grew 26%, driven by a 30% increase in revenue per load, partially offset by a 3% decline in volume. Dedicated Contract Services^® (DCS^®) revenue grew 25% as a result of a 16% increase in average revenue producing trucks and a 7% increase in fleet productivity versus the prior year period. Final Mile Services^® (FMS) revenue increased 4% as strong demand for services in the segment were offset by supply-chain related challenges in most of the primary markets served. Current quarter total operating revenue, excluding fuel surcharges, increased approximately 22% vs. the comparable quarter 2020.

Total freight transactions in the Marketplace for J.B. Hunt 360 increased 27% to $593 million in the fourth quarter 2021 compared to $468 million in the prior year quarter. ICS revenue on the platform increased 11% to $431 million versus the year ago period. JBT and JBI executed approximately $113 million and $48 million, respectively, of third-party dray, independent contractor and power-only capacity through the platform during the quarter.

U.S. GAAP operating income for the current quarter totaled $322.5 million vs. $207.7 million for the fourth quarter 2020. Operating income increased from fourth quarter 2020 primarily from customer rate and cost recovery efforts and further scaling into our technology investments at a consolidated level, in addition to a $5.7 million benefit from the reduction of a contingent liability in FMS. These items were partially offset by network fluidity challenges presented from both rail and customer activity in JBI as well as increases in: frontline employee bonuses; driver wage and recruiting costs; rail and truck purchase transportation expense; non-driver personnel salary, wages and incentive compensation; group medical and casualty insurance expense; and implementation costs for newly awarded business in both DCS and FMS segments.

Net interest expense in the current quarter decreased primarily from lower interest rates from fourth quarter 2020. The fourth quarter effective tax rates for 2021 and 2020 were 22.6% and 22.0%, respectively. The annual effective tax rates for 2021 and 2020 were 23.9% and 24.0%, respectively. We expect our 2022 annual tax rate to be between 24.0% and 25.0%.

Segment Information:

Intermodal (JBI)

• Fourth Quarter 2021 Segment Revenue: $1.57 billion; up 26%
• Fourth Quarter 2021 Operating Income: $195.3 million; up 76%

Intermodal volumes declined 3% over the same period in 2020. Eastern network loads increased 1%, while transcontinental loads declined 5% compared to the fourth quarter 2020. While demand for intermodal capacity remains strong, ongoing network fluidity challenges driven by rail restrictions and customer detention of equipment, were even further impacted by weather, derailments and COVID-related labor shortages and disruptions during the quarter. Despite these volume-related challenges, revenue increased 26% for the quarter versus the prior year, driven by a 30% increase in revenue per load resulting from changes in the mix of freight, customer rates, and fuel surcharge revenues. Revenue per load excluding fuel surcharge revenue was up 22% year over year.

Operating income increased 76% in the fourth quarter from higher customer rate and cost recovery efforts compared to the prior year period. Rate and cost recovery efforts were partially offset by higher rail and third-party dray purchased transportation costs, increases in driver and non-driver wages and benefits, higher driver recruiting costs, and activity-based costs incurred to counteract network inefficiencies stemming from rail and customer fluidity challenges. The current period ended with approximately 105,000 units of trailing capacity and approximately 6,190 power units in the dray fleet.

Dedicated Contract Services (DCS)

• Fourth Quarter 2021 Segment Revenue: $712 million; up 25%
• Fourth Quarter 2021 Operating Income: $72.6 million; down 6%

DCS revenue increased 25% during the current quarter over the same period 2020. Productivity (revenue per truck per week) increased approximately 7% versus the prior period. Productivity excluding fuel surcharge revenue increased 2% from a year ago primarily from contracted indexed-based price escalators partially offset by lower productivity on start-up accounts and a greater number of open trucks due to the tight labor market and COVID-related labor disruptions. A net additional 1,778 revenue producing trucks were in the fleet by the end of the quarter compared to the prior year period, and a net additional 439 versus the end of the third quarter 2021. Customer retention rates remain above 98%.

Operating income decreased 6% from the prior year quarter. Benefits from higher revenue and increased productivity of assets were more than offset by increases in casualty insurance expense, frontline employee bonuses, group medical benefits, driver wage and recruiting costs, non-driver personnel salary, wages and incentive compensation, and other costs related to the implementation of new, long-term contractual business.

Integrated Capacity Solutions (ICS)

• Fourth Quarter 2021 Segment Revenue: $739 million; up 26%
• Fourth Quarter 2021 Operating Income: $21.2 million; up 280%

ICS revenue increased 26% in the current quarter versus the fourth quarter 2020. Revenue growth was primarily driven by a 27% increase in revenue per load resulting from changes in customer freight mix and higher contractual and spot rates in our truckload business as compared to the fourth quarter 2020. Overall segment volumes declined 1% with truckload volumes increasing 3% versus the prior year period. Contractual volumes represented approximately 54% of the total load volume and 43% of the total revenue in the current quarter compared to 51% and 35%, respectively, in fourth quarter 2020. Of the total reported ICS revenue, approximately $431 million was executed through the Marketplace for J.B. Hunt 360 compared to $387 million in fourth quarter 2020.

Operating income increased to $21.2 million compared to $5.6 million in the fourth quarter 2020. Benefits from higher gross margin were partially offset by higher personnel and technology costs as compared to the same period 2020. Gross profit margins increased to 12.2% in the current period versus 10.8% in the prior period. ICS carrier base increased 36% year over year.

Final Mile Services (FMS)

• Fourth Quarter 2021 Segment Revenue: $222 million; up 4%
• Fourth Quarter 2021 Operating Income: $7.4 million; up 35%

FMS revenue increased 4% compared to the same period 2020. Stop count within FMS decreased 22% during the current quarter versus a year ago. The addition of multiple customer contracts implemented over the last year were more than offset by the reduction of stops at several customers due to labor shortages and supply chain constraints. Productivity, defined as revenue per stop, increased approximately 33% compared to the prior year period primarily from a shift in the mix of business between asset and asset-light operations.

Operating income, which included a $5.7 million benefit from the reduction of a contingent liability, increased 35% over the prior year quarter. Excluding the benefit, operating income declined 68% versus the prior year period. Higher revenue from multiple new customer contracts was more than offset by significant increases in implementation expenses as a result of those same contracts, along with less revenue at some existing customers due to supply-chain constraints. Higher personnel expense related to salary, wages and incentive compensation were also offsetting items in the quarter.

Truckload (JBT)

• Fourth Quarter 2021 Segment Revenue: $259 million; up 85%
• Fourth Quarter 2021 Operating Income: $25.9 million; up 210%

JBT revenue increased 85% from the same period in 2020. Revenue excluding fuel surcharge revenue increased 79%, primarily from a 55% increase in revenue per load excluding fuel surcharge revenue and a 15% increase in load count compared to a year ago. The increase in revenue per load excluding fuel surcharge revenue was driven by a 32% increase in revenue per loaded mile excluding fuel surcharge revenue and a 19% increase in average length of haul. Load count growth and the length of haul increase were primarily related to the continued net trailer additions and expansion of J.B. Hunt 360box^® which leverages the J.B. Hunt 360 platform to access drop-trailer capacity for customers across our transportation network. Comparable contractual customer rates were up approximately 27% compared to the same period 2020. The current period ended with 11,172 trailers and 2,235 tractors, compared to 8,567 and 1,769 respectively for the prior year period.

Operating income increased to $25.9 million compared to $8.4 million in the fourth quarter 2020. Benefits from increased load counts and revenue per load were partially offset by increases in purchased transportation expense, higher driver wages and recruiting costs and higher non-driver personnel expense related to salary, wages and incentive compensation. Further investments in both building out our trailer network and technology related to the continued expansion of 360box also partially offset higher revenue.

Cash Flow and Capitalization:

At December 31, 2021, we had total debt outstanding of $1.3 billion outstanding on various debt instruments which is comparable to the total debt levels at December 31, 2020, and September 30, 2021.

Our net capital expenditures for 2021 approximated $877 million vs. $601 million in 2020. At December 31, 2021, we had cash and cash equivalents of $356 million.

In the fourth quarter 2021, we purchased approximately 76,000 shares of our common stock for approximately $15 million. At December 31, 2021, we had approximately $351 million remaining under our share repurchase authorization. Actual shares outstanding at December 31, 2021, approximated 105.1 million.

Conference Call Information:

The Company will hold a conference call today from 4:00–5:00 pm CST to discuss the quarterly earnings. To participate in the call, dial 1-833-360-0810 (domestic) or 470-495-0976 (international) 15 minutes prior to the start of the call and provide the following conference ID: 8876825. A replay of the call will be posted on the investor relations section of our website here later today.

Forward-Looking Statements:

This press release may contain forward-looking statements, which are based on information currently available. Actual results may differ materially from those currently anticipated due to a number of factors, including, but not limited to, those discussed in Item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2020. We assume no obligation to update any forward-looking statement to the extent we become aware that it will not be achieved for any reason. This press release and additional information will be available to interested parties on our website, www.jbhunt.com.

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.

Brad Delco
Vice President – Finance & Investor Relations
(479) 820-2723 

25-Year Global Technology Veteran’s Appointment to Advance Commercial Rollout of Flux Power’s Sustainable Lithium-Ion Energy Storage Solutions for Fortune 500 Fleets

VISTA, Calif.--(BUSINESS WIRE)--Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion battery packs for electrification of commercial and industrial equipment, today announced the appointment of Cheemin Bo-Linn, a global technology industry veteran, to its Board of Directors as an independent director, effective January 14, 2022. Ms. Bo-Linn will also serve as a member of the Audit Committee, Compensation Committee, and Nominating Committee. Ms. Bo-Linn’s appointment as an independent director increases the total number of board members to six, with four independent directors.

Ms. Bo-Linn currently serves as Chief Executive Officer of Peritus Partners, Inc., a valuation accelerator which also provides consulting and operations expertise in software (SaaS), IoT, mobile, and digital (analytics, marketing, e-commerce, supply chain, and cybersecurity). Previously, during her 20+ years in senior IBM executive roles, she led global teams as IBM’s VP of Industrial Sector/Electronics, responsible for IBM’s software, semiconductor chips, storage, and consulting services. Ms. Bo-Linn was recognized as one of the “Top 50 Directors” in the United States in 2019 by the National Association of Corporate Directors (NACD) and The Financial Times / Agenda named her one of the 2021 “Top 100” Diverse Directors in the Americas. In 2015, she was inducted into the Women in Technology International Professional Association “Hall of Fame” and was also named “Top Woman of Influence” by the Silicon Valley Business Journal. Ms. Bo-Linn has served on several boards as Lead Independent Director and Chair of every major committee, across the U.S., Canada, and Europe. Ms. Bo-Linn earned a doctorate degree in computer-based management information systems and organizational change from the University of Houston.

“We are privileged to welcome Cheemin to the Board, bringing diverse and valuable technology industry experience in manufacturing, software, clean tech and battery storage,” said Ron Dutt, Chief Executive Officer of Flux Power. “She joins us at an opportune time with her firsthand experience in the global industrial sector and product brand development, as well as leading global brands through hypergrowth and diversification. In addition, her expertise on environmental, social and corporate governance (ESG) strategies will support our expansion. Cheemin will help us increase the breadth and depth of our reach as a Company, positioning us to continue our growth and to create value for our shareholders.”

Bo-Linn added, “Flux Power has reached a key inflection point in its evolution, and I am honored to offer my insight as the Company continues its growth trajectory to meet the increasing demands for its lithium-ion battery packs and the addition of new customers and products. I look forward to working alongside Ron and the rest of the board to build its vision of electrification for the global material handling and industrial equipment sectors.”

About Flux Power Holdings, Inc.

Flux Power designs, manufactures, and sells advanced lithium-ion energy storage solutions for a range of industrial and commercial sectors including material handling, airport ground support equipment (GSE), and stationary energy storage. Our lithium-ion battery packs, including our proprietary battery management system (BMS) and telemetry, provide our customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions. Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. For more information, please visit www.fluxpower.com.

Forward-Looking Statements

This release contains projections and other "forward-looking statements" relating to Flux Power’s business, that are often identified using "believes," "expects" or similar expressions. Forward-looking statements involve several estimates, assumptions, risks, and other uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Such forward-looking statements include impact of COVID-19 on Flux Power’s business, results and financial condition; Flux Power’s ability to obtain raw materials and other supplies for its products at competitive prices and on a timely basis, particularly in light of the potential impact of the COVID-19 pandemic on its suppliers and supply chain; the development and success of new products, projected sales, deferral of shipments, Flux Power’s ability to fulfill backlog orders or realize profit from the contracts reflected in backlog sale; Flux Power’s ability to fulfill backlog orders due to changes in orders reflected in backlog sales, Flux Power’s ability to timely obtain UL Listing for its products, Flux Power’s ability to fund its operations, distribution partnerships and business opportunities and the uncertainties of customer acceptance and purchase of current and new products. Actual results could differ from those projected due to numerous factors and uncertainties. Although Flux Power believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, they can give no assurance that such statements will prove to be correct, and that the Flux Power’s actual results of ‎operations, financial condition and performance will not differ materially from the ‎results of operations, financial condition and performance reflected or implied by these forward-‎looking statements. Undue reliance should not be placed on the forward-looking statements and Investors should refer to the risk factors outlined in our Form 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov/edgar. These forward-looking statements are made as of the date of this news release, and Flux Power assumes no obligation to update these statements or the reasons why actual results could differ from those projected.

Flux, Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.

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Blog: Flux Power Blog
News: Flux Power News
Twitter: @FLUXpwr
LinkedIn: Flux Power

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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI) and Magnora ASA (Magnora) are pleased to announce that their partnership, Magnora Offshore Wind AS, has been offered the opportunity to enter into an Option Agreement for the N3 area by the Crown Estate Scotland in the ScotWind leasing round. The planned development will have a total capacity of approximately 500 megawatts (MW), which could power more than 600,000 homes in the United Kingdom.

Magnora Offshore Wind is a partnership between TechnipFMC and Magnora, combining TechnipFMC’s experience executing large integrated offshore projects and delivering industry leading technologies and Magnora’s extensive renewable and offshore project development expertise. One of the core principles of the partnership is local commitment, involving local subcontractors and communities to create long-term value in all project phases in a sustainable and responsible way.

Luana Duffé, Executive Vice President, New Energy Ventures at TechnipFMC, commented: “Magnora Offshore Wind is an exciting partnership for TechnipFMC, and we are ready to put our expertise and experience into action following this successful bid. We will build on our core strengths of innovation, integration and collaboration while supporting local communities and developing the local supply chain.”

Torstein Sanness, Executive Chairman of Magnora ASA, commented: “Magnora Offshore Wind is a young company with ambitions and capabilities. Extensive experience from renewable and offshore energy production creates a strong foundation for succeeding in growing an offshore wind business with significant long-term value creation for society, employees and shareholders. Together with TechnipFMC, we are proud to be given the opportunity to progress our work to develop the ScotWind N3 area.”

The N3 area is situated in the north-western part of Scotland, 40 kilometers offshore Western Isles. The planned wind farm will cover an area of approximately 100 square kilometers in water depths of 106 to 125 meters, and the concept base for the application is 33 semi-submersible floating wind turbines of 15 MW capacity.

The ambition is to achieve Consent in 2026, Final Investment Decision in 2028, and start production in 2030, contributing to achieving Scotland’s Net Zero targets, Pathway to 2030.

For the ScotWind N3 application, Magnora Offshore Wind has support from three committed experience providers: Stornoway Port Authority, Kishorn Port and DNV.

Important Information for Investors and Securityholders

Forward-Looking Statement

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

About TechnipFMC

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

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

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

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

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

Investor relations

Matt Seinsheimer
Vice President, Investor Relations
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James Davis
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Media relations

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CAMBRIDGE, Mass.--(BUSINESS WIRE)--#EVs--24M Technologies, Inc. announced today it was awarded $9 million in funding from the U.S. Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E). The funding will be used by 24M to develop and scale next-generation high energy density lithium metal anode cells for electric aviation.

“We are very pleased to have been selected for this competitive award. The program will accelerate our commercialization activities and enable us to rapidly bring our revolutionary cell technology to the market.” said Naoki Ota, President and CEO of 24M Technologies Inc. “With this funding we will develop and scale high energy cell solutions for electric flight using our unique SemiSolid^TM platform that breaks through the performance and cost barriers of today’s lithium-ion technologies.” said Dr. Yet-Ming Chiang, Chief Scientist & Co-Founder of 24M Technologies Inc.

The 24M team plans to develop batteries incorporating a lithium metal anode and SemiSolid^TM cathode to deliver lower cost, superior power and improved energy density to electric aviation applications. The 24M team will also develop and scale up a commercial, modular, pilot line for customer validation with a clear path to gigascale production capacity for the new lithium metal battery technology.

24M Technologies, Inc. received this competitive award from ARPA-E’s program Seeding Critical Advances for Leading Energy technologies with Untapped Potential (SCALEUP), building on ARPA-E’s primary research and development (R&D) focus, to support the scaling of high-risk and potentially disruptive new technologies across the full spectrum of energy applications.

For additional information about 24M Technologies, Inc. and this project, please visit 24-m.com.

About 24M Technologies

24M answers the world’s need for affordable energy storage by enabling a new, more cost-effective solution–SemiSolid^TM lithium-ion technology. By re-inventing the design of the battery cell as well as the manufacturing method, 24M solves the critical, decades-old challenge associated with the world’s preferred energy storage chemistry: reducing its high cost while improving its performance. Founded and led by some of the battery industry’s foremost inventors, scientists, and entrepreneurs, 24M is headquartered in Cambridge, Mass. For more information, please visit www.24-m.com.

Marian Hughes for 24M
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708-421-0083

Pang Tan
VP of Business Development
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HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL, the “Trust”) today announced a cash distribution to the holders of its units of beneficial interest of $0.023000 per unit, payable on February 14, 2022 to unitholders of record on January 31, 2021. The net profits interest calculation represents reported oil production for the month of October 2021 and reported natural gas production during September 2021. The calculation includes accrued costs incurred in November 2021.

The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations.

Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $3.2 million for the current month on realized wellhead prices of $78.30/Bbl, up $0.4 million from the prior month distribution period.

Recorded natural gas cash receipts from the Underlying Properties totaled $0.9 million for the current month on realized wellhead prices of $4.28/Mcf, down $0.2 million from the prior month distribution period.

Total accrued operating expenses for the period were $2.6 million, an increase of $0.1 million from the prior period. Capital expenditures increased $0.3 million from the prior period to $0.5 million, primarily due to the expenses related to two new, non-operated drilling projects by a private operator in the Permian area.

About Permianville Royalty Trust

Permianville Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain, predominantly non-operated, oil and gas properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the 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, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.permianvilleroyaltytrust.com.

Forward-Looking Statements and Cautionary Statements

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 the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from COERT Holdings 1 LLC (the “Sponsor”) with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have experienced significant fluctuation since the beginning of 2020 in response to the economic effects of the COVID-19 pandemic and the actions taken by Russia and the members of the Organization of Petroleum Exporting Countries regarding production levels. Low oil and natural gas prices will reduce profits to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. Other important factors that could cause actual results to differ materially include expenses of the Trust, reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. In addition, future monthly capital expenditures may exceed the average levels experienced in 2020 and prior periods. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither the Sponsor 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 the Trust is subject to the risks described in the Trust’s filings with the SEC, including the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 23, 2021. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.

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

• Corporate Knights positions Schneider Electric fourth in its 2022 list of corporate sustainability leaders

BOSTON--(BUSINESS WIRE)--#ESG--Schneider Electric, the leader in the digital transformation of energy management and automation, has earned its place in the top ranks of Corporate Knights’ annual Global 100 list of most sustainable corporations for the 11^th time.

The Canadian media and research company examines over 6,900 companies worldwide every year to determine the top 1% most sustainable corporations. The Global 100 methodology is based on 23 key performance indicators, with 50% of the weight of scores assigned to a company’s share of Clean Revenues and Investment. According to Corporate Knights, Global 100 most sustainable companies outperform by generating more than four times as much revenue per tonne of carbon emitted than the average company in MSCI All Country World Index.

Schneider Electric has featured on Corporate Knights’ Global 100 every year since 2012, making it to the top spot in 2021, and fourth this year. This performance is thanks to Schneider’s integration of sustainability into its business strategy. In 2021, Schneider Electric reinforced its sustainability consulting business to support more partners and customers in their own sustainable transformation.

“There is no magic formula to being repeatedly listed as a most sustainable company, it’s about doing well and doing good” commented Olivier Blum Chief Strategy & Sustainability Officer of Schneider Electric, “As an impact company, we embrace sustainability as a business opportunity and an opportunity for all. It’s part of our model, culture, strategy, and the way we embark our entire ecosystem of employees, supply chain partners and customers, in delivering on our purpose day-in, day-out.”

Schneider Electric already started the year on a high with regards to its Environmental, Social and Governance (ESG) performance, following the recent announcement of global recognition from four ESG ratings in 2021, including the CDP Climate Change A list or Dow Jones Sustainability World Index.

For more information on Schneider Electric’s Environmental, Social and Governance (ESG) consult:

• Frequently Asked Questions (FAQ)

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

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

Hashtags: #LifeIsOn #Sustainability #ESG #OurImpact

Thomas Eck
Schneider Electric
919-266-8623
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EWING, N.J.--(BUSINESS WIRE)--$OLED #4Q21--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED^® technology and materials, today announced its results for the fourth quarter and full year, ended December 31, 2021, will be released on Wednesday, February 23, 2022 after market close. At that time, a copy of the financial results release will be available on the Company’s website at https://oled.com/.

In conjunction with this release, Universal Display will host a conference call on Wednesday, February 23, 2022 at 5:00 p.m. Eastern Time. The live webcast of the conference call can be accessed under the events page of the Company's Investor Relations website at ir.oled.com. Those wishing to participate in the live call should dial 1-877-524-8416 (toll-free) or 1-412-902-1028. Please dial in 5-10 minutes prior to the scheduled conference call time. An online archive of the webcast will be available within two hours of the conclusion of the call.

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.

Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.

All statements in this document that are not historical, such as those relating to the Company’s technologies and potential applications of those technologies, the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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Universal Display Contact:
Darice Liu
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Infrastructure improvement grant from the Louisiana Port Construction and Development Priority Program will fund carbon negative site improvements

COLUMBIA, La.--(BUSINESS WIRE)--Strategic Biofuels, the leader in developing negative carbon footprint renewable fuels plants, and the Port of Columbia in Caldwell Parish (Port) have jointly announced that the Port has received a $15 million infrastructure improvement grant. The grant, intended to fund site improvements, is from the Louisiana Port Construction and Development Priority Program, which is administered by the Louisiana Department of Transportation and Development (DOTD).

Port Director, Greg Richardson said, “The infrastructure improvement grant represents a major advancement for the Port of Columbia and Caldwell Parish. It allows the Port to improve the services it can offer and ultimately improve revenues. Because of the grant’s potential impact, the Port engaged Gary LaGrange, longtime Director of the Port of New Orleans, to help us navigate the grant application process. During Gary’s 15-year tenure with the Port of New Orleans, he was responsible for more than $500 million in infrastructure improvements before he retired in 2016. Our success in securing the grant confirmed the Port Commissioners’ wisdom in engaging him.”

The Port of Columbia is the site of Strategic Biofuels’ Louisiana Green Fuels (LGF) Project, and the grant will enhance the Port’s accessibility, serviceability and covers three areas of site improvement:

• Riverton Camp Road upgrade. Upgrading the current site access road to heavy industrial grade is an early requirement as it will provide immediate plant construction site entry. This work is being designed by the Port’s engineering firm Bryant Hammett & Associates, who are based in Ferriday, Louisiana. Construction for the upgrade is expected to begin mid-summer 2022.
• Rail spur construction. A 37-car rail spur will be constructed to allow access to the Union Pacific mainline that borders the port site. Engineering design, which is funded by LGF has been completed by Hatch and construction expected to begin in 2023.
• Rail overpass construction. In conjunction with LGF and DOTD, the Port has developed a thoughtful traffic pattern to ensure safe and efficient access for forestry transport trucks to and from the future plant site. The design work is being performed by Meyer, Meyer, LaCroix & Hixson, Inc., who are headquartered in Alexandria, Louisiana, and previously designed the Highway 165 rail overpass just north of the Port. Ensuring maximum traffic safety, the design features a new rail overpass directly into the site and a US Hwy 165 underpass using the existing highway rail overpass along with a traffic circle, eliminating all truck left turns, at-grade rail crossings and stop signs. Construction of the rail overpass is expected to begin in 2023.

Bob Meredith, Strategic Biofuels’ Chief Operating Officer and Caldwell Parish native said, “We greatly appreciate the efforts the Port has made to secure funding for infrastructure improvements. The early upgrading of Riverton Camp Road coming this summer provides strong support for LGF’s aggressive construction schedule. It allows us to begin actual plant construction as soon as the full project funding is secured, and we expect that to be in early 2023. The Port has also been a key contributor in our efforts with DOTD and Union Pacific Railroad. The strong support we’ve continued to receive from Caldwell Parish confirms the wisdom of locating the plant here.”

About the Port of Columbia:

The Port of Columbia is a Louisiana Economic Development (LED) Certified Site located six miles north of Columbia in Caldwell Parish, LA. Certified Sites are development-ready industrial sites which have passed an extensive application process and exhaustive review by an independent, third-party engineering firm. The Port of Columbia is governed by a board of commissioners who are accountable to the Caldwell Parish government.

About Strategic Biofuels:

Strategic Biofuels LLC is a team of oil and gas, petrochemical and renewable technology experts focused on developing a series of deeply negative carbon footprint plants in northern Louisiana that convert waste materials from managed forests into renewable diesel and renewable naphtha. The fuel qualifies for substantial Carbon Credits under the Federal Renewable Fuel Standard (RFS) and under the California Low Carbon Fuels Standard (LCFS).

About Louisiana Green Fuels:

Louisiana Green Fuels is the first project by Strategic Biofuels in northern Louisiana at the Port of Columbia in Caldwell Parish. The plant and its accompanying Class VI Carbon Capture and Sequestration Wells will be the first renewable fuels project in North America to achieve “negative” carbon emissions and the most carbon-negative of any liquid fuels plant in the world. The feedstock for the plant is forestry waste from managed and sustainable forests.

Uniqua Williams
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Rocket Lab now operates the world’s largest production line of high-performing space solar cells

LONG BEACH, Calif.--(BUSINESS WIRE)--$RKLB--Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today announced it has closed the previously-announced transaction to acquire SolAero Holdings, Inc. (SolAero), a premier supplier of space solar power products and precision aerospace structures for the global aerospace market, for $80 million in cash. Rocket Lab announced the execution of the agreement to acquire SolAero on December 13, 2021 pending certain closing conditions.

The acquisition aligns with Rocket Lab’s growth strategy of vertical integration to deliver a comprehensive space solution that spans spacecraft manufacture, satellite subsystems, flight software, ground operations, and launch. As one of only two companies producing high-efficiency, space-grade solar cells in the United States, SolAero’s space solar cells are among the highest performing in the world and support civil space exploration, science, defense and intelligence, and commercial markets. In combining with Rocket Lab, SolAero will tap into the Company’s resources and manufacturing capability to boost high-volume production, making high-performing space power technologies available at scale.

“SolAero has established itself as a premier provider of solar technologies and we are very excited to be joining forces,” said Rocket Lab founder and CEO, Peter Beck. “SolAero is a highly complementary addition to Rocket Lab’s vertically integrated business model, enabling us to deliver complete space mission solutions for our customers. With more than 1,000 successful missions under their belt, the team at SolAero have enabled trailblazing missions, providing space solar power solutions for the James Webb Space Telescope, and missions on Mars including InSight and Ingenuity. We are thrilled to be combining our innovative teams, industry-leading technologies, and strong resources to enable our customers to achieve incredible things in space.”

“We are very excited to join the outstanding team at Rocket Lab and contribute to their track record of innovation and on-orbit success,” said SolAero President and CEO, Brad Clevenger. “We look forward to becoming an integral part of Rocket Lab’s Space Systems business while continuing to offer all of our customers premier capability and value.”

Founded in 1998 and headquartered in Albuquerque, New Mexico, SolAero’s solar cells, solar panels, and composite structural products have supported more than 1,000 successful space missions with 100% reliability and mission success to date. Over the past two decades, SolAero’s products have played key roles in some of the industry’s most ambitious space missions, including supplying power to NASA’s Parker Solar Probe and Mars Insight Lander, the largest solar array ever deployed on the surface of Mars, and several Cygnus Cargo Resupply Missions to the International Space Station. SolAero also led the development and manufacturing of the solar panel on Ingenuity, the helicopter that successfully flew on Mars in April this year, marking the first ever powered, controlled flight on a planet other than Earth.

SolAero technology has also made commercial constellations possible, providing power to OneWeb’s broadband constellation. Most recently, SolAero has been selected to supply Solar Power Modules for the Power and Propulsion Element of NASA’s Gateway as part of NASA’s Artemis lunar exploration plans, which will enable future missions to Mars.

The addition of SolAero’s 425-strong team brings Rocket Lab’s total headcount to more than 1,100 employees across its space manufacturing complexes, test facilities, and launch sites in California, Virginia, Colorado, Maryland, Toronto, New Zealand and now Albuquerque, New Mexico. The SolAero team will continue to be led by President and CEO Brad Clevenger at SolAero’s 154,696 ft² (14,372 m²) production facilities in Albuquerque, New Mexico.

The SolAero merger follows on from the acquisition of space software company ASI Aerospace LLC in October 2021, spacecraft separation systems company Planetary Systems Corporation in December 2021, and satellite components manufacturer Sinclair Interplanetary in April 2020.

About Rocket Lab

Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, spacecraft components, satellites and other spacecraft and on-orbit management solutions that make it faster, easier and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle and the Photon satellite platform and is developing the Neutron 8-ton payload class launch vehicle. Since its first orbital launch in January 2018, Rocket Lab’s Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered 109 satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab’s Photon spacecraft platform has been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand, one of which is currently operational, and a second launch site in Virginia, USA which is expected to become operational in early 2022. To learn more, visit www.rocketlabusa.com.

Forward-Looking Statements

This press release may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These forward-looking statements, including without limitation expectations regarding the benefit of the SolAero acquisition, are based on Rocket Lab’s current expectations and beliefs concerning future developments and their potential effects. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond Rocket Lab’s control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including risks related to the global COVID-19 pandemic, including risks that the financial and operating performance of the SolAero acquisition may not meet our expectations, or that we may not realize the benefits of the acquisition or be able to successfully integrate into our business without substantial additional costs or in a manner that negatively impacts our business or operating results; risks related to government restrictions and lock-downs in New Zealand and other countries in which we operate that could delay or suspend our operations; delays and disruptions in expansion efforts; our dependence on a limited number of customers; the harsh and unpredictable environment of space in which our products operate which could adversely affect our launch vehicle and spacecraft; increased congestion from the proliferation of low Earth orbit constellations which could materially increase the risk of potential collision with space debris or another spacecraft and limit or impair our launch flexibility and/or access to our own orbital slots; increased competition in our industry due in part to rapid technological development and decreasing costs; technological change in our industry which we may not be able to keep up with or which may render our services uncompetitive; average selling price trends; failure of our launch vehicles, satellites and components to operate as intended either due to our error in design in production or through no fault of our own; launch schedule disruptions; supply chain disruptions, product delays or failures; design and engineering flaws; launch failures; natural disasters and epidemics or pandemics; changes in governmental regulations including with respect to trade and export restrictions, or in the status of our regulatory approvals or applications; or other events that force us to cancel or reschedule launches, including customer contractual rescheduling and termination rights; risks that acquisitions may not be completed on the anticipated timeframe or at all or do not achieve the anticipated benefits and results; and the other risks detailed from time to time in Rocket Lab’s filings with the Securities and Exchange Commission (the “SEC”), including under the heading “Risk Factors” in the prospectus dated October 7, 2021 related to our Registration Statement on Form S-1 (File No. 333-259757), which was filed with the Securities and Exchange Commission pursuant to Rule 424(b) on October 7, 2021 and elsewhere (including that the impact of the COVID-19 pandemic may also exacerbate the risks discussed therein). There can be no assurance that the future developments affecting Rocket Lab will be those that we have anticipated. Except as required by law, Rocket Lab is not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

+ Rocket Lab Media Contact
Morgan Bailey
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NORMAN, Okla.--(BUSINESS WIRE)--#energymarkets--Power Costs, Inc., (PCI) is pleased to announce its successful completion of the Service Organization Controls 1 Type II (SOC 1 Type II) and Service Organization Controls 2 Type II (SOC 2 Type II) attestation issued under the American Institute of Certified Public Accounts (AICPA) and Statement on Standards for Attestation Engagements No. 18 (SSAE 18) for 2021.

After a thorough external audit, the SOC reports were prepared and issued by KirkpatrickPrice for the evaluation period ending in October 2020. The audit results indicate that PCI’s controls as a cloud service provider are appropriately designed and effectively executed. This marks PCI’s 10th consecutive year to be issued unqualified SOC reports.

Additionally, PCI is pleased to announce its successful completion of a compliance audit on the Federal Information Security Management Act of 2002 (FISMA) using the National Institute of Standards and Technology (NIST) Special Publication (SP) 800-53 Revision 4 framework.

After a thorough external audit, a FISMA Compliance Report was prepared and issued by KirkpatrickPrice attesting that PCI has implemented safeguards that meet the protections required by FISMA using the NIST SP 800-53 rev.4 framework. The audit results indicate that PCI’s information security program is operating with sufficient effectiveness to provide reasonable assurance that the security, confidentiality, and integrity of nonpublic personal information is protected as of Oct. 31, 2021.

These reports provide assurance that PCI’s hosted solutions will meet its customers’ security needs on a best-in-class cloud platform. PCI works globally with a variety of customers, including federal and state entities, and strives to comply with industry best practices to deliver secure and reliable software solutions.

About Power Costs, Inc. (PCI)

PCI is the leading provider of energy trading software, superior customer support, and value-added services for energy companies worldwide. Founded in 1992, PCI continues to refine and develop new solutions that meet the ever-evolving needs of its clients, including investor-owned, municipal, and cooperative utilities, renewable energy companies, energy marketers and traders, and independent power producers. PCI optimizes more than half the power generated in North America, and more than 70% of Fortune 500 Utilities in the U.S. are PCI customers. The firm is privately held and based in Norman (OK), with regional offices in Houston (TX), Raleigh (NC), and Mexico City, and Sydney (AUS). To learn more, please visit powercosts.com.

Media Contact:
Morgan Day
Power Costs, Inc. (PCI)
(405) 447-6933
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HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded two one-well contracts with subsidiaries of Murphy Oil Corporation for semisubmersible VALARIS DPS-5.

The first contract is in the U.S. Gulf of Mexico and is expected to commence in the third quarter 2022 with a minimum duration of 30 days. This contract has a one-well option with an estimated duration of 90 days. The second contract, offshore Mexico, will commence in direct continuation of the first contract and has an estimated duration of 60 days.

About Valaris Limited

Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.

Cautionary Statements

Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," “should,” “will” and similar words. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the Company’s liquidity and ability to access financing sources, debt restrictions that may limit our liquidity and flexibility, the COVID-19 outbreak and global pandemic, the related public health measures implemented by governments worldwide, the volatility in oil prices caused in part by the COVID-19 pandemic and the decisions by certain oil producers to reduce export prices and increase oil production, and cancellation, suspension, renegotiation or termination of drilling contracts and programs. In particular, the unprecedented nature of the current economic downturn, pandemic, and industry decline may make it particularly difficult to identify risks or predict the degree to which identified risks will impact the Company’s business and financial condition. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10-Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.

Investor & Media Contact:
Tim Richardson
Director - Investor Relations
+1-713-979-4619