ANNAPOLIS, Md.--(BUSINESS WIRE)--Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong” or “HASI”) (NYSE: HASI), a leading investor in climate solutions, today announced the appointment of Kimberly A. Reed and Jeffrey A. Lipson to its Board of Directors, effective March 1, 2023.

In connection with these elections, the Board of Directors will consist of 11 members, 9 of whom are independent members. The Board appointed Ms. Reed to serve as a member of the Audit Committee and the Finance and Risk Committee.

“We are delighted to add Kimberly Reed’s talent and perspective to our Board as HASI continues to grow in ambition and scale,” said Jeffrey W. Eckel, HASI Executive Chair. “Kimberly’s demonstrated leadership in resurrecting and running the U.S. Export-Import Bank adds important government and regulatory experience and global connectivity to our Board, as well as another seasoned financial services voice.”

Ms. Reed said, “Hannon Armstrong Sustainable Infrastructure Capital, Inc.— the very first U.S. public company to focus solely on investments in energy efficiency, renewable energy, and other sustainable infrastructure markets and now with more than $9 billion in managed assets — plays a unique and pivotal role in the renewables firmament. HASI is led by a team that collectively brings unparalleled longevity in this rapidly evolving space, and I am confident that my experience leading major public agencies and engaging with diverse businesses across the United States will complement this superior team and the company’s already substantive Board of Directors.”

Ms. Reed currently serves on the Board of Directors of Takeda Pharmaceutical Company Limited (TSE: 4502/NYSE: TAK) and Momentus Inc. (NASDAQ: MNTS) and is a distinguished fellow with the Council on Competitiveness.

Ms. Reed served as the first woman chairman of the Board of Directors, president and chief executive officer of the Export-Import Bank of the United States (EXIM) — the nation’s official $135 billion export credit agency — from 2019 to 2021 after being confirmed by the U.S. Senate with overwhelming bipartisan support. As EXIM chairman, she worked to help U.S. companies — including those in the renewable and clean energy and transformational technology sectors —succeed in the competitive global marketplace. Earlier in her career, Ms. Reed was president of the International Food Information Council Foundation, where she worked with multi-national food and agribusiness companies on nutrition, health, and sustainability issues; senior advisor to U.S. Treasury Secretaries Henry Paulson and John Snow; chief executive officer of the Community Development Financial Institutions Fund (CDFI Fund); and counsel to three committees of the U.S. Congress, where she conducted oversight and investigations.

She also currently serves on the American Swiss Foundation Board of Directors, Hudson Institute's Alexander Hamilton Commission on Securing America's National Security Innovation Base, Krach Institute for Tech Diplomacy at Purdue Advisory Council and Indiana University School of Public Health-Bloomington Dean's Alliance.

Recognized as one of the “100 Women Leaders in STEM,” Ms. Reed received the U.S. Department of Defense’s highest civilian award — the Medal for Distinguished Public Service — and is a Council on Foreign Relations life member and National Association of Corporate Directors (NACD) Certified Director. She holds a Juris Doctor from West Virginia University College of Law and a Bachelor of Science in biology and a Bachelor of Arts in government from West Virginia Wesleyan College.

“We also welcome our new CEO, Jeff Lipson, on the Board,” Mr. Eckel added. As previously announced, Jeffrey A. Lipson has transitioned to the role of president and chief executive officer of HASI effective today. Mr. Lipson served as both chief operating officer and chief financial officer of HASI from January 2021 to February 2023, and chief financial officer from January 2019 to December 2020.

About Hannon Armstrong

Hannon Armstrong (NYSE: HASI) is the first U.S. public company solely dedicated to investments in climate solutions, providing capital to assets developed by leading companies in energy efficiency, renewable energy, and other sustainable infrastructure markets. With more than $9 billion in managed assets, our core purpose is to make climate positive investments with superior risk-adjusted returns. For more information, please visit hannonarmstrong.com or follow us on Twitter and LinkedIn.

Forward-Looking Statements

Some of the information contained in this press release is 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 that are subject to risks and uncertainties. For these statements, we claim the protections of the safe harbor for forward-looking statements contained in such Sections. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. When we use the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expressions, we intend to identify forward-looking statements.

Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include those discussed under the caption “Risk Factors” included in our most recent Annual Report on Form 10-K as well as in other periodic reports that we file with the U.S. Securities and Exchange Commission

Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. We disclaim any obligation to publicly release the results of any revisions to these forward-looking statements reflecting new estimates, events or circumstances after the date of this press release.

Media:
Gil Jenkins
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443-321-5753

Investors:
Neha Gaddam
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410-571-6189

Custom and resold furniture sellers reap benefits of API integrations, nationwide carrier networks

AUSTIN, Texas--(BUSINESS WIRE)--uShip, the fast, easy, and affordable way to transport large items like furniture, vehicles, and freight, today announced the addition of five new partners to its In-Home Delivery program, including:

• AptDeco
• Craze Furniture and Antiques
• Jory Brigham Design
• Redirected Wood Company
• TUNE Studio

uShip In-Home Delivery is designed for online sellers of new, handcrafted, vintage, and refurbished furniture, as well as oversized e-commerce like kayaks, e-bikes, and medical equipment. Sellers can access instant rates, a private first-to-last mile carrier network, blanket-wrap service, dedicated support, automated booking, status updates, and best-in-class shipment protection. In 2022, 268,000 business shipments were listed on uShip.

“Shipping large items, especially furniture of all kinds, can be a black box for emerging and even established online sellers and marketplaces,” said Heather Hoover-Salomon, interim CEO of uShip. “uShip In-Home Delivery digitizes and automates the shipping process so deliveries happen faster and with fewer claims through our nationwide network of independent transporters.”

Use Cases: uShip In-Home Delivery in Action

Nationwide Expansion
AptDeco has integrated with uShip’s pricing, booking, and tracking APIs to quickly accelerate and scale its furniture marketplace to a nationwide buying audience, beyond its Northeast and West Coast origins.

“Establishing a national footprint is key to AptDeco's mission to make it easy, affordable and safe for everyone to participate in furniture circularity, and uShip In-Home Delivery gives us an instant coast-to-coast carrier network to scale our operation," said Ella Tay, VP of Brand Strategy and Partnerships, AptDeco.

Best-in-Class Support
Craze Furniture and Antiques is a family-owned and operated business with furniture covering a wide variety of eras and styles. The team wanted to expand outside its Wake County, N.C., area – and uShip In-Home Delivery helped deliver that growth.

“We needed a partner who had the customer experience in mind – we’re lucky to have found that partner in uShip,” said Craig Kinser, Owner, Craze Furniture and Antiques. “Beyond the instant quotes and seamless checkout, the real shining star of uShip is the support staff. The team has gone above and beyond.”

Shipping Peace of Mind
Jory Brigham Design, an online seller of 100% handcrafted furniture with a focus on timeless aesthetics and sustainable materials, says it feels secure in putting its pieces into the hands of transporters on uShip.

“Our experience with uShip has been impressive,” said Jory Brigham, Owner/President of Jory Brigham Design, Inc. “The customer success managers are VERY helpful and we know the transporters by name. The accountability is priceless – the opposite of what we experienced with past companies.”

White Glove Delivery
TUNE.Studio
Tune Studio sells state-of-the-art performance technology for the nervous system. Tested and proven by NIH and Mayo Clinic, these 100-lb beds tune the body to its optimal state through medical-grade vibrations.

“TUNE decided to work with uShip because having white glove delivery allowed for a better experience for our customers and peace of mind for our company,” said Kyle Godrey-Ryan, founder of TUNE.

Find out more at uship.com/business/in-home-delivery

About uShip
uShip makes it quick, easy, and affordable to ship large or bulky items. From cars to cranes and furniture to freight, our straightforward and transparent platform helps people, businesses, and e-commerce sellers ship with incredible speed and efficiency. Launched in 2004, uShip is based in Austin, Texas. Find out more at uship.com or follow us on Facebook, Twitter, and LinkedIn for the latest updates.

Dean Jutilla
VP, Corporate Communications
uShip
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650-814-3854

Vallourec, a top multinational pipe and drilling manufacturer, launches the first eCommerce marketplace for oil and gas producers, opening and speeding up trade for thousands of global business owners

NEW YORK--(BUSINESS WIRE)--Vallourec, a global leader in premium tubular solutions for the energy markets and industrial applications, has selected Balance to power the payments solution for its new online platform, Behub-e, which enables energy and industrial market players from all over the world to interact and transact online. Balance is the top B2B payments experience company that offers the first online checkout built for businesses. In partnership with Balance, thousands of companies in the global energy market will be able to securely facilitate payments online with multiple sellers worldwide. With Balance, Vallourec can reach the widest array of sellers and buyers with a smooth checkout experience that aligns with the ease of everyday online shopping.

“Balance’s B2B net terms, which allow buyers to pay after 30 days, is a game changer. This was a major decision factor for us,” said Geoffroy de Roffignac, Director of Online Business at Vallourec. “Other providers only manage the payment portion, so the ability to include net terms sets Balance apart. Vallourec is continuing to grow our marketplace with this simple, all-in-one checkout experience.”

Payment delays are a considerable pain point for companies with paper-based transactions. In April 2022, Vallourec launched its Behub-e payment solution to offer its B2B customers the ability to transact with the ease of everyday consumers. By partnering with Balance, Vallourec is enabling its customers to leverage all payment methods including credit card, ACH or wire transfers, using net payment terms.

“Balance is proud to elevate industry leaders like Vallourec by offering customers a seamless payment experience,” said Bar Geron, co-founder and CEO of Balance. “A decade ago, people would have said it’s impossible for a smaller company on the other side of the world to purchase parts and equipment from one the world’s largest steel pipe manufacturers. Balance is opening the door to global trade for thousands of buyers and sellers like never before. There is an increasing need for payment solutions with real-time net terms so that customers can enjoy instant payouts and zero risk. Balance is committed to owning the entire B2B checkout experience.”

Vallourec provides benchmark tubular solutions for the energy sectors and other applications — from oil and gas wells in extreme conditions to next-generation power plants, architectural projects and extremely high-performing mechanical equipment. Adapted to the challenges of the 21st century, Vallourec’s comprehensive and innovative solutions are designed for three main markets: oil and gas, low-carbon energy, and industry.

Behub-e is poised to revolutionize the oil and gas industry. Vallourec’s new online marketplace opens its top-tier inventory of steel products and equipment to companies – big and small – from around the world. This partnership will play a valuable role in allowing Vallourec to expand its eCommerce business offerings by reducing friction in the B2B payments process. By combining forces, the supply chain is becoming faster, easier and more accessible for buyers and sellers across the board.

About Vallourec

Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec’s pioneering spirit and cutting-edge R&D open new technological frontiers. With close to 17,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions to make any project possible. For more information, please visit https://behub-e.com/ or follow @behub_e on Twitter.

About Balance

Balance is the first self-serve digital checkout experience company for B2B businesses. By leveraging payments and risk-assessment technology, any B2B company that sells goods online can now offer their buyers a wide range of payment methods (ACH, Card and Wire) and flexible payment terms, and get paid easily and instantly — all in one place. For more information, please visit https://www.getbalance.com/ or follow @GetBalanceHQ on Twitter.

Media
Morgan Borer
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With projects in California and New York, the fund builds on previous successes with the financiers to grow Renewable Properties’ pipeline of projects across the U.S.

SAN FRANCISCO--(BUSINESS WIRE)--Renewable Properties, a developer and investor in small-scale utility and community solar projects, has closed its Fund 8 portfolio with two financing partners, Nelnet Renewable Energy and AB CarVal. Fund 8 consists of nearly 30 MW of community solar projects in California and New York.

The closing of Fund 8 reflects the company’s strong ties to financing partners that have consistently supported Renewable Properties’ local renewable energy projects and company operations by continuing to commit additional capital year after year.

“AB CarVal and Nelnet have been reliable Renewable Properties partners, enabling us to expand our community solar project portfolio to 15 states,” said Allan Riska, Chief Investment Officer at Renewable Properties. “We are grateful to have two steadfast financing partners and community solar advocates that believe in our mission to drive renewable energy forward for local communities.”

In 2020, funds managed by project loan partner AB CarVal, a global alternative investment manager, invested $60 million to support the expansion of Renewable Properties’ operations. The capital allowed Renewable Properties to further develop its existing community-scale solar project pipeline, expand development efforts into new and existing markets, and secure new project opportunities and acquisitions.

“Renewable Properties has produced an extensive and diverse track record of small-scale utility and community solar projects throughout the U.S.,” said Jerry Keefe, Principal at AB CarVal. “We are pleased to expand our rewarding partnership with Renewable Properties, which continues to demonstrate its capabilities and success in the U.S. community solar market.”

Fund 8 is Renewable Properties’ fourth tax equity fund partnership with Nelnet, a corporate tax equity partner that also has a solar engineering, procurement, and construction and operation and maintenance business.

“With our shared commitment to community solar and providing superior customer experience, Renewable Properties has been an excellent partner for Nelnet through three prior funds,” said Scott Gubbels, President of Nelnet Renewable Energy. “We look forward to continuing to grow our partnership and create a more inclusive clean energy future.”

The Fund 8 projects are located in California and New York, adding to Renewable Properties’ growing pipeline of community solar projects in 15 states. Totaling nearly 30 MW, the projects are expected to produce enough energy to power 4,438 homes per year and offset 35,246 tons of carbon dioxide annually.

Two Fund 8 projects are in Madera County, CA. The Avenue 26 Solar Phase I & II projects will commence construction in the second quarter of 2023 and should be completed by the end of the year. The projects total 11.5 MW and are expected to produce enough energy to power 2,004 homes per year and offset 15,910 tons of CO2 annually.

Unique to California, these two projects are part of California’s Disadvantaged Communities Green Tariff program, which is designed to promote the installation of community solar projects in disadvantaged communities as identified by CalEnviroScreen.

Fund 8’s New York projects are in various stages of development. The Slayton Settlement Solar A & Slayton Settlement Solar B projects in Lockport began construction at the end of 2022 and are expected to be online in October of this year. Two projects in Batavia will commence construction by May 2023 and are expected to be finished by December 2023. The Clemons Road Solar project in Minoa will commence construction in April 2023 and is expected to be operational by end of the year.

Together, the 18.4 MW from New York projects are expected to produce enough energy per year to power 2434 homes and offset 19,336 tons of CO2.

About Renewable Properties

Founded in 2017, Renewable Properties specializes in developing and investing in small-scale utility and community solar and storage energy projects throughout the U.S. Led by experienced renewable energy professionals with development and investment experience, Renewable Properties is active in 15 states and has over 700 MWs of solar under development with over 115 MWs under construction or in operation. Renewable Properties works closely with communities, developers, landowners, utilities, and financial institutions looking to invest in solar energy systems. For more information about Renewable Properties, visit www.renewprop.com.

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

SAN ANTONIO--(BUSINESS WIRE)--NuStar Energy L.P. (NYSE: NS) today announced that the 2022 tax packages, which include the Schedule K-1’s for Series A, Series B and Series C preferred units and common units, are available online at www.nustarenergy.com in the Investors section of the website. The partnership expects to begin mailing the 2022 tax packages on March 6, 2023. For additional information, NuStar Energy L.P. unitholders may call K-1 Tax Package Support toll free at (844) 364-7560 for Series A, Series B and Series C preferred units and (800) 310-6595 for common units, weekdays between 8 a.m. and 5 p.m. CT.

NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, Texas, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has approximately 9,500 miles of pipeline and 63 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia and specialty liquids. The partnership’s combined system has approximately 49 million barrels of storage capacity, and NuStar has operations in the United States and Mexico. For more information, visit NuStar Energy L.P.’s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/.

Investors, Pam Schmidt, Vice President, Investor Relations
Investor Relations: 210-918-INVR (4687)
or
Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer,
Corporate Communications: 210-918-2314

DALLAS--(BUSINESS WIRE)--#Braniff--Dallas-based Braniff Airways, dba Braniff International, announces that the company’s current employees and retirees can join Southwest Airlines Federal Credit Union, marking the first time that any airline’s retirees can join the popular credit union. The new agreement will enable Braniff employees and retirees to open checking accounts and enjoy the low interest rate car and home loans as well as the higher interest-bearing checking accounts offered by Southwest Airlines Credit Union, according to Braniff International Chairman Ben Cass.

Braniff Airways once operated its own credit union for more than 40 years, known as Braniff Airways Federal Credit Union. The credit union continued after Braniff ceased air operations in May 1982 and became DFW Federal Credit Union. The credit union eventually merged with Omni American Federal Credit Union, which was later merged with another credit union, making it difficult for Braniff employees and retirees to have access to banking services. Southwest Airlines FCU services are available online SWACU.org and at their DFW locations.

ABOUT BRANIFF INTERNATIONAL

Braniff Airways, Incorporated, d/b/a Braniff International, the former international airline, is now a leading global historic airline branding and marketing, online retail and historic airliner tour firm and hotelier, which was originally formed in 1928. Braniff manages a portfolio of licensing agreements worldwide. The company operates its lucrative Braniff Boutique Online Retail store www.braniffboutique.com that sells to 120 plus countries worldwide along with three brick and mortar stores. Braniff also administers its original Employee/Retiree Airline Pass Benefits Program, which offers current and former employees discount travel on partner airlines and travel companies.

Braniff Airways supports Braniff Airways Foundation, which is the official repository for Braniff's historical corporate and employee records, photographs and negatives and memorabilia. Over 100 million pages of Braniff corporate documents and 40,000 historical items are preserved in the Foundation's Braniff International Heritage Archives, which are housed at three locations in Dallas, Texas, and the company’s records retention facility in Arkansas

Braniff Airways has created an endowment at The University of Texas at Dallas to support the Space Sciences Department. An additional endowment has been created to support the administration of Braniff International Heritage Archives.

For more information: www.braniffinternational.com

Jessica Martin
Braniff Airways, Incorporated
Braniff International
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214-233-6473
www.braniffinternational.com
www.braniffboutique.com

MIAMI--(BUSINESS WIRE)--Life at Sea Cruises announced today they are accepting reservations for the world’s first - and only – three-year world cruise. The voyage will cover more than 130,000 miles, visiting 375 ports across 135 countries and seven continents.

Set aboard the beautifully revitalized MV Gemini - which boasts 400 cabins and room for up to 1,074 passengers - cruisers will enjoy the best of living and working at sea. The ship features traditional amenities including world-class dining, onboard entertainment and recreational activities, with modern workspace facilities such as a first-of-its-kind business center with meeting rooms, 14 offices, a relaxing lounge and business library. The ship will also include a 24-hour on-call hospital with free medical visits, learning and enrichment classes and the opportunity to make a positive impact through volunteer and philanthropic initiatives.

“Professionals need connectivity, the right amenities and the functionality to perform their jobs. There is no other cruise that offers this sort of flexibility to their customers” says Mikael Petterson, Managing Director of Life at Sea Cruises.

With prices starting at $29,999 per year, and payment options from $2,499 per month all-inclusive, cabins range from 130 sq ft for Virtual Inside and Oceanview staterooms to 260 sq ft Balcony Suites. All residents will enjoy amenities including a state-of-the-art wellness center, sundeck and swimming pool, auditorium and multiple dining options. Cruisers may also enjoy additional tax benefits when working as an international resident aboard the ship.

“Life at Sea Cruises offers the ultimate bucket list cruise without having to sacrifice the comforts of home,” says Irina Strembitsky, Director of Sales & Marketing of Life at Sea Cruises. “It’s your home at sea with the world as your backyard.”

Each stop on the MV Gemini itinerary - which includes 13 of the Wonders of the World - plans for multiple days in port, allowing travelers the opportunity for exploration at their own pace. Life At Sea Cruises is a world cruise product offered by Miray International, known for providing high quality hospitality services to cruise companies worldwide for nearly three decades.

The MV Gemini will begin its three-year voyage on November 1st, 2023, from Istanbul (with pickups in Barcelona and Miami). Reservations are currently open for booking at LifeAtSeaCruises.com or by calling 954-379-8221.

Megan Harris, The Tropical Agency
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TAMPA, Fla.--(BUSINESS WIRE)--Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) announced today that it plans to release fourth quarter results before market opens on Thursday, March 9, 2023.

The Company will host a conference call to discuss its fourth quarter and full year 2022 results at 9:30 a.m. Eastern Time (“ET”) on Thursday, March 9, 2023.

To access the call, participants should dial (844) 200-6205 for domestic callers and (929) 526-1599 for international callers and enter Access Code 076865. Please dial in ten minutes prior to the start of the call.

A live webcast of the conference call will be available from the Investor Relations section of the Company’s website at www.osg.com.

An audio replay of the conference call will be available for one week starting at 11:30 a.m. ET on Thursday, March 9, 2023, by dialing (866) 813-9403 for domestic callers and (929) 458-6194 for international callers and entering Access Code 798578.

About Overseas Shipholding Group, Inc.

Overseas Shipholding Group, Inc. (NYSE: OSG) is a publicly traded company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG’s 21 vessel U.S. Flag fleet consists of three Suezmax crude oil tankers doing business in Alaska, two conventional ATBs, two lightering ATBs, three shuttle tankers, seven MR tankers, and three non-Jones Act MR tankers, two of which participate in the U.S. Maritime Security Program, and one tanker in cold layup.

OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.

Investor Relations & Media Contact:
Susan Allan, Overseas Shipholding Group, Inc.
(813) 209-0620
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RIDGEWOOD, N.J.--(BUSINESS WIRE)--In Q4 2022, Scale Microgrids (“Scale”) acquired a portfolio of distributed generation solar projects from a leading solar asset owner. The portfolio of operating assets consists of 13 ground-mount and rooftop solar projects, across 23 sites. Through this geographically diverse acquisition, Scale will now own and operate assets in New Jersey, Colorado, North Carolina, Oregon, Pennsylvania, Delaware and expand its portfolio in California.

“This acquisition adds diversification to our operating asset base, accelerates customer acquisition and opens several new markets. Additionally, it will contribute to our company’s vision of powering the world with distributed energy.” said Julian Torres, Chief Investment Officer at Scale Microgrids.

With this acquisition, Scale adds to its growing portfolio of green, behind the meter assets, providing value to a diverse range of customers including large corporations such as FedEx, as well as higher education institutions including Colorado State Pueblo University.

The transaction was executed through LevelTen Energy’s Asset Marketplace, a platform that connects clean energy project developers and financiers, and provides the software, analytics and M&A transaction expertise they need to execute transactions quickly.

“With this large portfolio of projects, Scale Microgrids is continuing to bring more sustainable, reliable and affordable power to the grid, and LevelTen Energy is excited to have assisted in through providing the connection that made the acquisition possible with our Asset Marketplace,” said Patrick Worrall, Vice President of Asset Marketplace, LevelTen Energy.

About Scale Microgrids

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

Media:
Nicole Green
Director, Marketing and Branding
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HANAU, Germany--(BUSINESS WIRE)--#FusionEnergy--Please replace the release with the following corrected version due to multiple revisions.

The updated release reads:

THE EUROPEAN GAUSS FUSION INITIATIVE SEEKS TO USE MAGNETIC FUSION TO ENSURE A CLEAN AND SAFE ENERGY SUPPLY

Gauss Fusion GmbH is a greentech venture founded in 2022 by various European companies from Germany, France, Italy and Spain with extensive experience in fusion technology. In February 2023, Gauss Fusion completed a founders’ pre-seed financing round with €8 million in initial capital, marking a first milestone on the way to a clean and secure energy source to complement renewable energies.

The Gauss Fusion Initiative has set itself the goal of bringing the first European GW-class (electric) fusion power plant (Gauss GIGA fusion power plant) online by 2045. The initiative is characterized by its strong industrial leadership and close cooperation with renowned European research institutes and experienced technology experts, including the Max Planck Institute for Plasma Physics (IPP) and the Karlsruhe Institute of Technology (KIT). At present, fusion energy is primarily being developed within the framework of international state-financed large-scale projects. Gauss Fusion now offers support to this process, which has the potential to accelerate the development of clean fusion energy generation “at venture speed” thanks to efficient structures. Gauss Fusion is a proponent of an entrepreneurial path to a considerable acceleration of fusion energy in a close “public-private partnership” (PPP) with national and European institutions.

Developing clean and safe energy sources for a modern “net-zero” society is a key challenge of our time. The entirety of the energy supply cannot be covered by renewable energies alone, not least because of the space requirements and the natural fluctuations in the generation of solar and wind energy. A supplementary energy source is needed that delivers the base load cleanly, safely, reliably and efficiently, and allows the continuous production of green hydrogen.

Under its motto of “Fusion with Integrity”, Gauss Fusion is pursuing the ambitious but realistic goal of providing green energy through magnetic fusion – without raising any false expectations. Dr. Frank Laukien, co-founder and Chairman of the Advisory Board of Gauss Fusion GmbH, is all too aware of this: “To develop a European magnetic fusion power plant – and not just a pilot or demonstration plant – by 2045 is an ambitious but realistic goal that we can achieve not only thanks to our advanced technology, but also through our public-private partnership approach. We expect synergies to emerge from our industrial organizational structure and the cooperation with excellent scientists and institutes with substantial experience in magnetic fusion and plasma physics.”

The close cooperation between industry and science also has won over Prof. Sibylle Günter, scientific director of the IPP: “We look forward to working with Gauss Fusion to help build a fusion power plant as quickly as possible. We are delighted that industrial companies and investors in Germany and Europe now also want to promote fusion energy. This can greatly speed up our journey to a magnetic fusion power plant.”

Frédérick Bordry, former Director of Accelerators and Technology and Honorary Member of CERN, adds: “Fusion on the Sun has been taking place for more than 4.5 billion years and is essential for life on earth. Reproducing it and controlling it in power plants would give us access to an important and sustainable source of decarbonized energy. Decisive progress has recently been made in the field of fusion energy, and I am confident that Gauss Fusion will significantly accelerate integration of the technologies needed to build a grid-connected power plant. It will be the result of an alliance of leading industries, scientists and institutes. Such a power plant could be operational as early as 2045 and I am proud and honored to chair the Gauss Fusion Strategic and Scientific Advisory Board.”

Fusion energy is gaining relevance in political discourse in the EU

Ever since scientists in the US made an historic breakthrough in fusion in mid-December last year, when more energy was produced than consumed for the first time ever by fusing hydrogen isotopes, fusion has become the focus of political attention as a clean and safe source of energy. The German Federal Ministry of Education and Research is also leading the way in this regard and wants to increase its involvement in fusion research.

At the same time, Gauss Fusion will work together with renowned magnetic-fusion scientists and engineers in an initial exploratory and research phase on the necessary industrialization, maintenance and safety concepts, in order to then start with the design and development of the commercial prototype of a GW-class (electric) fusion power plant in phase 2.

Frank Laukien: “I’m pleased that many political decision-makers in Germany, in other European countries, and the EU have recognized the opportunities offered by fusion energy, as we can see from the recent joint statement by Federal Chancellor Olaf Scholz and French President Emmanuel Macron, made on the occasion of the 60th anniversary of the signing of the Élysée Treaty. In addition, we expect leading partners from the energy industry to join the Gauss Fusion initiative in the near future.”

About Gauss Fusion:
Gauss Fusion GmbH was founded in 2022 with locations in Germany and is planning to expand to other European countries over time, with the aim of dramatically accelerating the most advanced developments in high-field magnetic fusion, and subsequently the first fusion power plants on the grid. Founding companies and strategic partners from the fusion technology industry are Alcen (France), ASG Superconductors (Italy), Bruker EAS (Germany), IDOM (Spain), and RI Research Instruments (Germany). Co-founder and Executive Chairman is the German-American dual citizen Dr. Frank Laukien, President and CEO of the international Bruker Corporation. In addition to the Advisory Board, which is made up of founders’ representatives, a Strategic & Scientific Advisory Board (SSAB) made up of renowned European scientists and fusion experts will support the development of fusion technology and the Gauss fusion power plant.

For more information, see:
Gauss Fusion – Leading Europe to build Fusion Power Plants (gauss-fusion.com)
Gauss Fusion: Overview | LinkedIn

Media:
Martina Rauch
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SAN JOSE, Calif. & SAINT-NAZAIRE, France--(BUSINESS WIRE)--In their first major marine deployment, Bloom Energy (NYSE:BE) fuel cells demonstrated a significant increase in electrical efficiency on a luxury cruise ship built by Chantiers de l’Atlantique (CdA). Bloom and CdA have also announced that they have signed a memorandum of understanding to collaborate on developing future multi-MW installations on board marine vessels.

The 150kW solid oxide fuel cell platform provided auxiliary power to the ship, the MSC World Europa operated by MSC Cruises, while in port using liquefied natural gas (LNG), one of the cleanest marine fuels available. The MSC World Europa was docked in Qatar in November and December for the 2022 World Cup.

The Bloom Energy Server™ demonstrated 60% electrical efficiency while the ship was in port, a significant improvement over existing high-efficiency power systems, as well as a reduction of carbon emissions by 30% with no methane slippage. Lower carbon emissions and higher efficiency will be critical to ship operators while their vessels are in port.

“Bloom Energy fuel cells have shown their effectiveness in decarbonizing land-based industries,” said Suminder Singh, senior director, marine, for Bloom Energy. “With the deployment by Chantiers de l’Atlantique, we have now proven that they will be effective in decarbonizing shipping, both in port and on the high seas.”

“We are firmly committed to leading the shipbuilding industry in its transition to a more environmentally friendly future,” said Laurent Castaing, general manager, Chantiers de l’Atlantique. “The in-port performance of Bloom Energy’s fuel cells shows that we have charted the right course to making this a reality. We look forward to having Bloom Energy on board for the future.”

Using Bloom fuel cells for so-called hoteling power sharply reduces in-port pollution, an important step towards the goal of the International Maritime Organization (IMO) to reduce shipping’s greenhouse gas emissions by half compared to 2008 levels. Bloom’s future-proof platform is IMO 2040- and 2050-ready, with the ability to operate on LNG, blended hydrogen, ammonia, and hydrogen. The Energy Server platform has passed two critical safety reviews, the American Bureau of Shipping’s New Technology Qualification Process and Bureau Veritas.

While the MSC installation was geared towards proving the efficacy of Bloom system’s in-port operations, the fuel cells, which had undergone rigorous tilt-table testing, also achieved full power output during the vessel’s maiden voyage between Saint-Nazaire and Qatar while in the Mediterranean Sea.

Bloom is working with our customers to design fuel cell-based power delivery architecture that will operate in engine parallel mode, while the ship is sailing, and transition hotel loads 100% to fuel cells when the ship is docked at the port.

For more information about Bloom Energy’s clean energy leadership in the marine transport market, visit
https://www.bloomenergy.com/marine/

Forward-Looking Statements

This press release contains certain forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will” and “would” or the negative of these words or similar terms or expressions that concern Bloom’s expectations, strategy, priorities, plans or intentions. These forward-looking statements include, but are not limited to, Bloom’s expectations regarding collaboration with Chantiers de l’Atlantique (CdA), including plans to install solid oxide fuel cells on future CdA vessels, any expected benefits from the collaboration with CdA, such as carbon emissions reductions, increased energy efficiency, pollution reduction, greenhouse gas reduction or satisfying any clean energy or power savings requirements by IMO or other regulatory agencies, progress towards any net-zero emissions, decarbonization or energy independence goals, passing safety reviews, future platforms and regulations, future power delivery architecture and Bloom’s long-term commitment to particular regions, policies or imperatives. More information on potential risks and uncertainties that may impact Bloom’s business are set forth in Bloom’s periodic reports filed with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022, and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022, filed with the SEC on May 6, 2022, August 9, 2022 and November 3, 2022, respectively, as well as subsequent reports filed with or furnished to the SEC from time to time. Bloom assumes no obligation to, and does not currently intend to, update any such forward-looking statements.

About Bloom Energy

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

About Chantiers de l’Atlantique

Thanks to the expertise of its teams and its network of subcontractors, associated with a first-rate industrial facilities, Chantiers de l’Atlantique is a key leader in the fields of design, integration, testing and turnkey delivery of cruise ships, naval vessels, electrical substations for offshore wind farms and services to the fleets. The company is at the heart of the challenges of tomorrow, designing and building today ships whose environmental performance exceeds the most drastic standards, as well as equipment for offshore wind power that make it a major player in the energy transition. For more information, visit www.chantiers-atlantique.com.

Media Contact:
Virginia Citrano
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Investor Relations:
Ed Vallejo
267.370.9717
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Media Contact
Gontier, Yann
+33251109037
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OKLAHOMA CITY--(BUSINESS WIRE)--Gulfport Energy Corporation (NYSE: GPOR) (“Gulfport” or the “Company”) today reported financial and operating results for the three and twelve months ended December 31, 2022 and provided its 2023 outlook.

Fourth Quarter 2022 and Recent Highlights

• Delivered total net production of 1,051.6 MMcfe per day
• Reported $748.6 million of net income and $155.9 million of adjusted EBITDA⁽¹⁾
• Generated $188.0 million of net cash provided by operating activities and $33.2 million of adjusted free cash flow⁽¹⁾
• Repurchased 206 thousand shares of common stock for $13.6 million subsequent to the end of fourth quarter 2022 at an average price of $66.29 per share; repurchased 3.1 million shares of common stock for $264.4 million⁽²⁾ since the inception of the repurchase program at an average price of $85.14 per share
• Expanded common stock repurchase program from $300 million to $400 million

Full Year 2022 Highlights

• Delivered total net production of 983.4 MMcfe per day
• Reported $494.7 million of net income and $768.4 million of adjusted EBITDA⁽¹⁾
• Generated $739.1 million of net cash provided by operating activities and $240.6 million of adjusted free cash flow⁽¹⁾
• Increased the borrowing base under our revolving credit facility from $850 million to $1.0 billion
• Reduced total debt by $19 million, maintaining a strong balance sheet and low leverage
• Reported total proved reserves of 4.0 Tcfe, an increase of 4% compared to 2021, and total discounted future net cash flows of $8.3 billion at year-end SEC pricing
• Added incremental hedge positions for 2023 covering approximately 36% of production with weighted-average floors of $3.76 per MMBtu

Full Year 2023 Outlook

• Expect to deliver full year net production in the range of 1,000 MMcfe to 1,040 MMcfe per day, an increase of 2% to 6% compared to 2022
• Plan to invest total capital expenditures of $450 million⁽³⁾, including $50 million to $75 million on leasehold and land investment
• Project D&C capital expenditures to decrease approximately 6%⁽³⁾ compared to 2022
• Anticipate minimal, if any, service cost inflation in 2023
• Forecast turning to sales 22 to 24 gross wells, which includes 2 wells targeting the Marcellus, 2 wells in the SCOOP and the remaining wells targeting the Utica
• Marcellus delineation test planned in Belmont County, Ohio possesses upside potential for unlocking valuable inventory underlying current acreage position
• Forecast to reduce per unit operating⁽⁴⁾ cost by approximately 7%⁽³⁾ compared to 2022
• Plan to allocate adjusted free cash flow⁽¹⁾ towards common share repurchases and incremental leasehold opportunities

"2022 was a productive year for Gulfport, maintaining inventories of high quality acreage, delivering quality results from the development program, generating significant free cash flow and returning meaningful capital to shareholders through common share repurchases," commented John Reinhart, CEO of Gulfport.

"As the company progresses into 2023, the team remains focused on further optimizing our development programs cycle times and operating costs, ultimately improving margins and supporting our expected free cash flow generation. We plan to continue the return of capital to our shareholders through common share repurchases, while targeting incremental leasehold opportunities that complement our resource depth and provide optionality to our future development plans."

A company presentation to accompany the Gulfport earnings conference call can be accessed by clicking here.

1. A non-GAAP financial measure. Reconciliations of these non-GAAP measures and other disclosures are provided with the supplemental financial tables available on our website at www.gulfportenergy.com.
2. As of February 23, 2023.
3. Assumes midpoint of 2023 guidance.
4. Includes lease operating expense, transportation, gathering, processing and compression expense and taxes other than income.

Operational Update
The table below summarizes Gulfport's operated drilling and completion activity for the full year of 2022:

Gulfport’s net daily production for the full year of 2022 averaged 983.4 MMcfe per day, primarily consisting of 692.9 MMcfe per day in the Utica and 290.5 MMcfe per day in the SCOOP. For the full year of 2022, Gulfport’s net daily production mix was comprised of approximately 90% natural gas, 7% natural gas liquids ("NGL") and 3% oil and condensate.

Capital Investment
Capital investment was $449.2 million (on an incurred basis) for the full year of 2022, of which $411.8 million related to drilling and completion (“D&C”) activity and $37.4 million related to leasehold and land investment.

Financial Position and Liquidity
As of December 31, 2022, Gulfport had approximately $7.3 million of cash and cash equivalents, $145.0 million of borrowings under its revolving credit facility, $113.4 million of letters of credit outstanding and $550 million of outstanding 2026 senior notes.

Gulfport’s liquidity at December 31, 2022, totaled approximately $448.9 million, comprised of the $7.3 million of cash and cash equivalents and approximately $441.6 million of available borrowing capacity under its revolving credit facility.

As of February 23, 2023, Gulfport had $25.6 million of cash and cash equivalents, $79.0 million of borrowings under its revolving credit facility, $113.4 million of letters of credit outstanding and $550 million of outstanding 2026 senior notes.

During 2022, the Company paid $5.4 million of cash dividends to holders of our preferred stock.

Expanded Common Stock Repurchase Program
Gulfport's board of directors recently expanded the Company's previously announced common stock repurchase program and Gulfport is now authorized to repurchase up to $400 million of its outstanding shares of common stock. Purchases under the repurchase program may be made from time to time in open market or privately negotiated transactions, and will be subject to available liquidity, market conditions, credit agreement restrictions, applicable legal requirements, contractual obligations and other factors. The repurchase program does not require the Company to acquire any specific number of shares. The Company intends to purchase shares under the repurchase program opportunistically with available funds while maintaining sufficient liquidity to fund its capital development program. The repurchase program may be suspended from time to time, modified, extended or discontinued by the board of directors at any time.

As of February 23, 2023, the Company repurchased 3.1 million shares for $264.4 million at a weighted average price of $85.14 per share.

2023 Guidance
Gulfport released operational guidance and outlook for the full year 2023, including full year expense estimates and projections for production and capital expenditures. Gulfport's 2023 guidance assumes commodity strip prices as of February 13, 2023, adjusted for applicable commodity and location differentials, and no property acquisitions or divestitures.

Derivatives
Gulfport enters into commodity derivative contracts on a portion of its expected future production volumes to mitigate the Company's exposure to commodity price fluctuations. For details, please refer to the "Derivatives" section provided with the supplemental financial tables available on our website at ir.gulfportenergy.com.

Estimated Proved Reserves
Gulfport reported year end 2022 total proved reserves of 4.0 Tcfe, consisting of 3.6 Tcf of natural gas, 18.2 MMBbls of oil and 54.4 MMBbls of natural gas liquids. Gulfport’s year end 2022 total proved reserves increased approximately 4% when compared to its 2021 total proved reserves. The standardized measure of discounted future net cash flows of Gulfport’s total proved reserves was $8.3 billion and the present value, discounted at 10% (referred to as “PV-10”), was $9.5 billion at December 31, 2022, an increase of $4.1 billion and $5.2 billion, respectively, when compared to its 2021 results.

The table below provides information regarding the components driving the 2022 net proved reserve adjustments:

Proved developed reserves totaled approximately 2,295 Bcfe as of December 31, 2022 or approximately 57% of Gulfport’s proved reserves. Proved undeveloped reserves totaled approximately 1,752 Bcfe as of December 31, 2022.

The table below summarizes the Company’s 2022 net proved reserves:

The following table reconciles the standardized measure of future net cash flows to the PV-10 value of Gulfport’s proved reserves:

Fourth Quarter and Full Year 2022 Conference Call
Gulfport will host a teleconference and webcast to discuss its fourth quarter and full year 2022 results, as well as its 2023 outlook, beginning at 9:00 a.m. ET (8:00 a.m. CT) on Wednesday, March 1, 2023.

The conference call can be heard live through a link on the Gulfport website, www.gulfportenergy.com. In addition, you may participate in the conference call by dialing 866-373-3408 domestically or 412-902-1039 internationally. A replay of the conference call will be available on the Gulfport website and a telephone audio replay will be available from March 1, 2023 to March 15, 2023, by calling 877-660-6853 domestically or 201-612-7415 internationally and then entering the replay passcode 13735766.

Financial Statements and Guidance Documents
Fourth quarter and full year 2022 earnings results and supplemental information regarding quarterly data such as production volumes, pricing, financial statements, and non-GAAP reconciliations are available on our website at ir.gulfportenergy.com.

Non-GAAP Disclosures
This news release includes non-GAAP financial measures. Such non-GAAP measures should be not considered as an alternative to GAAP measures. Reconciliations of these non-GAAP measures and other disclosures are provided with the supplemental financial tables available on our website at ir.gulfportenergy.com.

About Gulfport
Gulfport is an independent natural gas-weighted exploration and production company focused on the exploration, acquisition and production of natural gas, crude oil and NGL in the United States with primary focus in the Appalachia and Anadarko basins. Our principal properties are located in eastern Ohio targeting the Utica formation and in central Oklahoma targeting the SCOOP Woodford and SCOOP Springer formations.

Forward Looking Statements
This press release includes “forward-looking statements” for purposes of the safe harbor provisions 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 Exchange Act of 1934. Forward-looking statements are statements other than statements of historical fact. They include statements regarding Gulfport’s current expectations, management's outlook guidance or forecasts of future events, projected cash flow and liquidity, inflation, share repurchases and other return of capital plans, its ability to enhance cash flow and financial flexibility, future production and commodity mix, plans and objectives for future operations, the ability of our employees, portfolio strength and operational leadership to create long-term value, the rejection of certain midstream contracts and the assumptions on which such statements are based. Gulfport believes the expectations and forecasts reflected in the forward-looking statements are reasonable, Gulfport can give no assurance they will prove to have been correct. They can be affected by inaccurate or changed assumptions or by known or unknown risks and uncertainties. Important risks, assumptions and other important factors that could cause future results to differ materially from those expressed in the forward-looking statements are described under "Risk Factors" in Item 1A of Gulfport’s annual report on Form 10-K for the year ended December 31, 2022 and any updates to those factors set forth in Gulfport's subsequent quarterly reports on Form 10-Q or current reports on Form 8-K (available at https://www.gulfportenergy.com/investors/sec-filings). Gulfport undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.

Investors should note that Gulfport announces financial information in SEC filings, press releases and public conference calls. Gulfport may use the Investors section of its website (www.gulfportenergy.com) to communicate with investors. It is possible that the financial and other information posted there could be deemed to be material information. The information on Gulfport’s website is not part of this filing.

Investor Contact:
Jessica Antle – Director, Investor Relations
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405-252-4550

AUSTIN, Texas--(BUSINESS WIRE)--#energy--Infinity Water Solutions (Infinity), a sustainability and water management company based in Austin, Texas, has reached an unprecedented scale with new agreements covering substantial volumes of recycle-and-reuse water in the Delaware Basin in New Mexico.

Anchoring this is a multi-year contract with major Permian operator XTO Energy, an ExxonMobil subsidiary. The agreement, which expands XTO’s portfolio of water management initiatives in the Permian Basin, is intended to preserve millions of barrels of water resources while also reducing downhole disposal.

“Our commitment to water stewardship is unwavering,” said Michael Dyson, Infinity’s Chief Executive Officer. “By alleviating the industry’s need to depend on brackish water, Infinity is accelerating conservation rates and increasing New Mexico’s water security, sustainability and resiliency, a vision we’re materializing with each new contract.”

As a pure-play recycler, Infinity operates within a closed-loop water management system, meaning 100% of the water gathered at its flagship Mills Ranch 1 facility – including XTO’s produced water – has been successfully recycled and redistributed back into the oil and gas industry in New Mexico to avoid withdrawal from natural water resources.

“This collaborative work with Infinity is part of ExxonMobil’s ongoing efforts to seek industry leading performance on water management in the Permian, including a continued focus on increasing water recycling and sharing,” said David Scott, General Manager of ExxonMobil’s Permian Basin business unit. “As a leading operator in the Permian Basin, we are working to do our part and collaborating with others to help safeguard New Mexico and West Texas water sources.”

To date, Infinity has gathered more than four million barrels of produced water, and successfully delivered similar volumes of recycled produced water back to a variety of major operators across the Permian, some up to 22 miles away from Infinity facilities. This is notable given the geography of the Permian Basin, and a sizable demonstration of just how far the infrastructure network and demand for water sharing have come.

An innovator in the energy industry, Infinity is reimagining the production process, bookending the way water is managed on both the gathering and sourcing sides. Using its 360-degree, zero-liquid discharge approach, Infinity treats and reuses 100% of what it gathers (less evaporation).

“It’s common to tout capacity, but far more difficult to demonstrate delivery in a dynamic market,” said Dyson. “That’s what makes this milestone so significant. We have meaningfully demonstrated on-demand reliability. We have consistently delivered the water quality at the industrial volumes our customers need.”

Since commissioning its flagship facility at Mills Ranch 1 in 2022, Infinity has invested heavily in a robust water-sharing network covering more than 150,000 acres across Eddy and Lea Counties in New Mexico. Its current throughput capacity is more than 125,000 barrels per day and its staging inventory sits at just over 3,000,000 million barrels (125 million gallons). To date, Infinity has treated more than 4,000,000 million barrels (165 million gallons) of water.

For more information, please visit: https://water.energy/

About Infinity Water Solutions

Infinity Water Solutions, LLC. (Infinity) is an Austin, Texas-based sustainability company focused on green infrastructure and water recycling in the Permian Basin. A pioneer in the energy Industry, Infinity is reshaping how operators gather, recycle, stage and source (on demand) water for production. Its closed-loop, 360-approach and comprehensive water-sharing network offers unbeatable value both in impact and cost, and has accelerated the pace at which many sustainability goals can be met.

[PRESS KIT HERE]

Media Contact:
Ashley Kegley-Whitehead
Chief Communications Officer
(512) 660-2898
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NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (NASDAQ: CLNE) (“Clean Energy” or the “Company”) today announced its operating results for the fourth quarter of 2022 and year ended December 31, 2022.

Andrew J. Littlefair, Clean Energy’s President and Chief Executive Officer, stated: “We finished the year with another strong quarter of RNG deliveries with a 21% increase from the fourth quarter of 2021. We continue to execute on our growth plans around RNG supply and the build out of new stations to accommodate Amazon and other fleets. We addressed our near-term capital needs with a $150 million debt raise to support RNG growth and bridge us well into 2023 when our dairy projects and volumes at new stations are anticipated to add to our cash flow profile. Despite some formidable head winds around lower environmental credits prices and a spike in California natural gas prices during the fourth quarter we finished the year with solid financial results and a well-funded balance sheet.”

The Company sold 54.4 million gallons of renewable natural gas (“RNG”) in the fourth quarter of 2022, a 21.2% increase compared to the fourth quarter of 2021. For the year ended December 31, 2022, the Company sold 198.2 million gallons of RNG compared to 167.0 million gallons sold in the same period in 2021, an 18.7% increase.

The Company’s revenue for the fourth quarter of 2022 was $113.8 million, an increase of $21.9 million compared to $91.9 million in the fourth quarter of 2021. Revenue for the fourth quarter of 2022 was reduced by $8.8 million of non-cash stock-based sales incentive contra-revenue charges (“Amazon warrant charges”) related to the warrant issued to Amazon.com NV Investment Holdings LLC (the “Amazon warrant”), compared to Amazon warrant charges of $3.4 million in the fourth quarter of 2021. Revenue for the fourth quarter of 2022 also included an unrealized gain of $2.1 million on commodity swap and customer fueling contracts relating to the Company’s Zero Now truck financing program, compared to an unrealized loss of $1.3 million in the fourth quarter of 2021. The increase in revenue was principally the result of higher sales price of natural gas and an increase in the number of gallons sold and serviced, partially offset by lower average low carbon fuel standards (“LCFS”) credit prices and lower average renewable identification number (“RIN”) prices during the quarter. Alternative fuel excise tax credit (“AFTC”) revenue was $5.5 million in the fourth quarter of 2022, compared to AFTC revenue of $5.7 million in the fourth quarter of 2021. Station construction revenue increased by $3.4 million to $6.6 million for the fourth quarter of 2022, compared to $3.2 million for the fourth quarter of 2021, due to increased construction activities.

The Company’s revenue for the year ended December 31, 2022 was $420.2 million, an increase of $164.6 million compared to $255.6 million in the year ended December 31, 2021. Revenue for the year ended December 31, 2022 was reduced by $24.3 million of Amazon warrant charges, compared to Amazon warrant charges of $83.6 million in the year ended December 31, 2021. Revenue for the year ended December 31, 2022 also included an unrealized gain of $0.5 million on commodity swap and customer fueling contracts relating to the Company’s Zero Now truck financing program, compared to an unrealized loss of $3.5 million in the year ended December 31, 2021. The increase in revenue was principally the result of higher sales price of natural gas and an increase in the number of gallons sold and serviced, partially offset by lower average LCFS credit prices in 2022. Revenue for the year ended December 31, 2022 included AFTC revenue of $21.8 million, compared to AFTC revenue of $20.7 million in the year ended December 31, 2021. The increase in AFTC revenue was due to higher number of gallons of fuel sold. Station construction revenue increased by $5.9 million to $22.3 million for the year ended December 31, 2022, compared to $16.4 million for the year ended December 31, 2021, due to increased construction activities.

On a GAAP (as defined below) basis, net loss attributable to Clean Energy for the fourth quarter of 2022 was $(12.3) million, or $(0.06) per share, compared to $(2.4) million, or $(0.01) per share, for the fourth quarter of 2021. Compared to the fourth quarter of 2021, the fourth quarter of 2022 was positively affected by an unrealized gain on commodity swap and customer fueling contracts relating to the Company’s Zero Now truck financing program, offset by higher Amazon warrant charges, higher stock compensation expense, a loss on extinguishment of debt at our NG Advantage majority-controlled subsidiary, and higher depreciation expense associated with the removal of fueling station equipment from select Pilot Travel Centers LLC (“Pilot”) locations.

On a GAAP basis, net loss attributable to Clean Energy for the year ended December 31, 2022 was $(58.7) million, or $(0.26) per share, compared to $(93.1) million, or $(0.44) per share, for the year ended December 31, 2021. Compared to that of 2021, the year ended December 31, 2022 was positively affected by lower Amazon warrant charges and an unrealized gain on commodity swap and customer fueling contracts relating to the Company’s Zero Now truck financing program, partially offset by higher stock compensation expense, costs associated with ramping up our RNG supply investments, losses on extinguishment of debt at our NG Advantage majority-controlled subsidiary, and higher depreciation expense associated with the removal of fueling station equipment from select Pilot locations.

Non-GAAP income (loss) per share and Adjusted EBITDA (each as defined below) for the fourth quarter of 2022 was $0.01 and $12.6 million, respectively. Non-GAAP income (loss) per share and Adjusted EBITDA for the fourth quarter of 2021 was $0.03 and $18.0 million, respectively.

Non-GAAP income (loss) per share and Adjusted EBITDA for the year ended December 31, 2022 was $0.01 and $50.0 million, respectively. Non-GAAP income (loss) per share and Adjusted EBITDA for the year ended December 31, 2021 was $0.04 and $57.0 million, respectively.

Non-GAAP income (loss) per share and Adjusted EBITDA are described below and reconciled to GAAP net income (loss) per share attributable to Clean Energy and GAAP net income (loss) attributable to Clean Energy, respectively.

Non-GAAP Financial Measures

To supplement the Company’s unaudited consolidated financial statements presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”), the Company uses non-GAAP financial measures that it calls non-GAAP income (loss) per share (“non-GAAP income (loss) per share”) and adjusted EBITDA (“Adjusted EBITDA”). Management presents non-GAAP income (loss) per share and Adjusted EBITDA because it believes these measures provide meaningful supplemental information about the Company’s performance, for the following reasons: (1) these measures allow for greater transparency with respect to key metrics used by management to assess the Company’s operating performance and make financial and operational decisions; (2) these measures exclude the effect of items that management believes are not directly attributable to the Company’s core operating performance and may obscure trends in the business; and (3) these measures are used by institutional investors and the analyst community to help analyze the Company’s business. In future quarters, the Company may adjust for other expenditures, charges or gains to present non-GAAP financial measures that the Company’s management believes are indicative of the Company’s core operating performance.

Non-GAAP financial measures are limited as an analytical tool and should not be considered in isolation from, or as a substitute for, the Company’s GAAP results. The Company expects to continue reporting non-GAAP financial measures, adjusting for the items described below (and/or other items that may arise in the future as the Company’s management deems appropriate), and the Company expects to continue to incur expenses, charges or gains like the non-GAAP adjustments described below. Accordingly, unless expressly stated otherwise, the exclusion of these and other similar items in the presentation of non-GAAP financial measures should not be construed as an inference that these costs are unusual, infrequent, or non-recurring. Non-GAAP income (loss) per share and Adjusted EBITDA are not recognized terms under GAAP and do not purport to be an alternative to GAAP income (loss), GAAP income (loss) per share or any other GAAP measure as an indicator of operating performance. Moreover, because not all companies use identical measures and calculations, the Company’s presentation of non-GAAP income (loss) per share and Adjusted EBITDA may not be comparable to other similarly titled measures used by other companies.

Non-GAAP Income (Loss) Per Share

Non-GAAP income (loss) per share, which the Company presents as a non-GAAP measure of its performance, is defined as net income (loss) attributable to Clean Energy Fuels Corp., plus Amazon warrant charges, plus stock-based compensation expense, plus accelerated depreciation expense relating to the removal of fueling station equipment located on certain Pilot premises, plus (minus) loss (income) from the SAFE&CEC S.r.l. equity method investment, and plus (minus) any loss (gain) from changes in the fair value of derivative instruments, the total of which is divided by the Company’s weighted-average common shares outstanding on a diluted basis. The Company’s management believes excluding non-cash expenses related to the Amazon warrant charges provides useful information to investors regarding the Company’s performance because the Amazon warrant charges are measured based upon a fair value determined using a variety of assumptions and estimates, and the Amazon warrant charges do not impact the Company’s operating cash flows related to the delivery and sale of vehicle fuel to its customer. The Company’s management believes excluding non-cash expenses related to stock-based compensation provides useful information to investors regarding the Company’s performance because of the varying available valuation methodologies, the volatility of the expense (which depends on market forces outside of management’s control), the subjectivity of the assumptions and the variety of award types that a company can use, which may obscure trends in a company’s core operating performance. The Company’s management believes excluding non-cash accelerated depreciation expense relating to the removal of fueling station equipment located on certain Pilot premises is helpful to investors because the expense is not part of or representative of the on-going operations of the Company and may reduce comparability or obscure trends in the Company’s operating performance. Similarly, the Company believes excluding the non-cash results from the SAFE&CEC S.r.l. equity method investment is useful to investors because these charges are not part of or representative of the core operations of the Company. In addition, the Company’s management believes excluding the non-cash loss (gain) from changes in the fair value of derivative instruments is useful to investors because the valuation of the derivative instruments is based on a number of subjective assumptions, the amount of the loss or gain is derived from market forces outside of management’s control, and the exclusion of these amounts enables investors to compare the Company’s performance with other companies that do not use, or use different forms of, derivative instruments.

The table below shows GAAP and non-GAAP income (loss) attributable to Clean Energy per share and also reconciles GAAP net income (loss) attributable to Clean Energy to the non-GAAP net income (loss) attributable to Clean Energy figure used in the calculation of non-GAAP income (loss) per share:

Adjusted EBITDA

Adjusted EBITDA, which the Company presents as a non-GAAP measure of its performance, is defined as net income (loss) attributable to Clean Energy Fuels Corp., plus (minus) income tax expense (benefit), plus interest expense (including any losses from the extinguishment of debt), minus interest income, plus depreciation and amortization expense, plus Amazon warrant charges, plus stock-based compensation expense, plus (minus) loss (income) from the SAFE&CEC S.r.l. equity method investment, and plus (minus) any loss (gain) from changes in the fair value of derivative instruments. The Company’s management believes Adjusted EBITDA provides useful information to investors regarding the Company’s performance for the same reasons discussed above with respect to non-GAAP income (loss) per share. In addition, management internally uses Adjusted EBITDA to determine elements of executive and employee compensation.

The table below shows Adjusted EBITDA and also reconciles this figure to GAAP net loss attributable to Clean Energy:

Fuel and Service Volume

The following tables present, for the three months and year ended December 31, 2021 and 2022, (1) the amount of total fuel volume the Company sold to customers with particular focus on RNG volume as a subset of total fuel volume and (2) operation and maintenance (“O&M”) services volume dispensed at facilities the Company does not own but where it provides O&M services on a per-gallon or fixed fee basis. Certain gallons are included in both fuel and service volumes when the Company sells fuel (product revenue) to a customer and provides maintenance services (service revenue) to the same customer.

Sources of Revenue

The following table shows the Company's sources of revenue for the three months and year ended December 31, 2021 and 2022:

2023 Outlook

GAAP net loss for 2023 is expected to range from approximately $(105) million to $(115) million, assuming no unrealized gains or losses on commodity swap and customer contracts relating to the Company’s Zero Now truck financing program and including Amazon warrant charges estimated to range from $60 million to $70 million. Changes in diesel and natural gas market conditions resulting in unrealized gains or losses on the Company’s commodity swap and customer fueling contracts relating to the Company’s Zero Now truck financing program, and significant variations in the vesting by Amazon of the Amazon warrant could significantly affect the Company’s estimated GAAP net loss for 2023. Adjusted EBITDA for 2023 is estimated to range from approximately $50 million to $60 million. These expectations exclude the impact of any acquisitions, divestitures, new joint ventures, transactions or other extraordinary events including any lingering negative effects associated directly or indirectly with the COVID-19 pandemic, including macroeconomic conditions and global supply chain issues. Additionally, the expectations regarding 2023 Adjusted EBITDA assumes the calculation of this non-GAAP financial measure in the same manner as described above and adding back the estimated Amazon warrant charges described above and without adjustments for any other items that may arise during 2023 that management deems appropriate to exclude. These expectations are forward-looking statements and are qualified by the statement under “Safe Harbor Statement” below.

Today’s Conference Call

The Company will host an investor conference call today at 4:30 p.m. Eastern time (1:30 p.m. Pacific). Investors interested in participating in the live call can dial 1.877.407.0784 from the U.S. and international callers can dial 1.201.689.8560. A telephone replay will be available approximately three hours after the call concludes through Tuesday, March 28, 2023, by dialing 1.844.512.2921 from the U.S., or 1.412.317.6671 from international locations, and entering Replay Pin Number 13735987. There also will be a simultaneous, live webcast available on the Investor Relations section of the Company’s web site at www.cleanenergyfuels.com, which will be available for replay for 30 days.

About Clean Energy Fuels Corp.

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.

Safe Harbor Statement

This press release contains 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, including statements about, among other things, our fiscal 2023 outlook, our volume growth, customer expansion, production sources, joint ventures, and the benefits of our fuels.

Forward-looking statements are statements other than historical facts and relate to future events or circumstances or the Company’s future performance, and they are based on the Company’s current assumptions, expectations and beliefs concerning future developments and their potential effect on the Company and its business. As a result, actual results, performance or achievements and the timing of events could differ materially from those anticipated in or implied by these forward-looking statements as a result of many factors including, among others: the direct and indirect impact of the COVID-19 pandemic, including macroeconomic conditions and supply chain issues, and the related impact on our operations, liquidity and financial condition; the willingness of fleets and other consumers to adopt natural gas as a vehicle fuel, and the rate and level of any such adoption; the Company’s ability to capture a substantial share of the market for alternative vehicle fuels and vehicle fuels generally and otherwise compete successfully in these markets; the potential adoption of government policies or programs or increased publicity or popular sentiment in favor of other vehicle fuels; the market’s perception of the benefits of RNG and conventional natural gas relative to other alternative vehicle fuels; natural gas vehicle and engine cost, fuel usage, availability, quality, safety, convenience, design, performance and residual value, as well as operator perception with respect to these factors, in general and in the Company’s key customer markets, including heavy-duty trucking; the Company’s ability to manage and grow its RNG business, including its ability to procure adequate supplies of RNG and generate revenues from sales of such RNG; the Company and its suppliers’ ability to successfully develop and operate projects and produce expected volumes of RNG; the potential commercial viability of livestock waste and dairy farm projects to produce RNG; the Company’s history of net losses and the possibility the Company incurs additional net losses in the future; the Company’s and its partners’ ability to acquire, finance, construct and develop other commercial projects; the Company’s ability to invest in hydrogen stations or modify its fueling stations to reform its RNG to fuel hydrogen and electric vehicles; the Company’s ability to realize the expected benefits from the commercial arrangement with Amazon and related transactions; future supply, demand, use and prices of crude oil, gasoline, diesel, natural gas, and other vehicle fuels, including overall levels of and volatility in these factors; changes in the competitive environment in which we operate, including potentially increasing competition in the market for vehicle fuels generally; the Company’s ability to manage and grow its business of transporting and selling CNG for non-vehicle purposes via virtual natural gas pipelines and interconnects, as well as its station design and construction activities; construction, permitting and other factors that could cause delays or other problems at station construction projects; the Company’s ability to execute and realize the intended benefits of any acquisitions, divestitures, investments or other strategic relationships or transactions; future availability of and our access to additional capital, which may include debt or equity financing, in the amounts and at the times needed to fund growth in the Company’s business and the repayment of its debt obligations (whether at or before their due dates) or other expenditures, as well as the terms and other effects of any such capital raising transaction; the Company’s ability to generate sufficient cash flows to repay its debt obligations as they come due; the availability of environmental, tax and other government legislation, regulations, programs and incentives that promote natural gas, such as AFTC, or other alternatives as a vehicle fuel, including long-standing support for gasoline- and diesel-powered vehicles and growing support for electric and hydrogen-powered vehicles that could result in programs or incentives that favor these or other vehicles or vehicle fuels over natural gas; the Company’s ability to comply with various registration and regulatory requirements related to its RNG projects; the effect of, or potential for changes to greenhouse gas emissions requirements or other environmental regulations applicable to vehicles powered by gasoline, diesel, natural gas or other vehicle fuels and crude oil and natural gas fueling, drilling, production, transportation or use; the Company’s ability to manage the safety and environmental risks inherent in its operations; the Company’s compliance with all applicable government regulations; the impact of the foregoing on the trading price of the Company’s common stock; and general political, regulatory, economic and market conditions.

Investor Contact:
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News Media Contact:
Raleigh Gerber
Director of Corporate Communications
949.437.1397

Innovative technology enables more efficient, remote inspection of equipment throughout northern Illinois

CHICAGO--(BUSINESS WIRE)--Harnessing advanced technology to enhance operations, ComEd announced that, for the first time, its certified pilots will operate drones remotely from any location across northern Illinois. Using new Skydio Drone Dock technology, ComEd crews will test remote drone monitoring solutions that will enable safe, cost-effective on-site and on-demand surveillance capabilities without dispatching trucks of crews to perform in-person inspections.

“At ComEd we are always looking for ways to improve our customers’ experience and advance our storm recovery efforts. Smarter equipment monitoring is one way to proactively prevent outages and support overall grid performance,” said Terence Donnelly, president and COO of ComEd. “The expansion of our drone program builds upon the innovative work we have done over the last decade to strengthen and modernize our system.”

The Federal Aviation Administration (FAA), which regulates commercial drone operation, permits organizations like ComEd to request operational waivers that allow pilots to remotely operate drones without a visual line of sight. These operational waivers will allow FAA-certified ComEd pilots to use enhanced drones to support routine equipment inspection, enabling utility crews to focus on priority grid repair and improvements.

Remote monitoring by drone will support overall grid performance by increasing ComEd’s ability to rapidly inspect equipment throughout the electric company’s service territory. This will help reduce operations and maintenance costs, while helping identify potential problem areas and prevent power outages before they occur. Remote, off-site flying capabilities will also maximize ComEd’s drone pilots’ efforts by limiting the time they are physically needed in the field.

To support ComEd’s nation-leading resiliency, routine monitoring of equipment is crucial to ensuring all grid assets are operating as intended. ComEd uses drones in a variety of ways, including to inspect power lines and following storms to assess damage and enable crews to more quickly and efficiently restore power. Drone pilots regularly join frontline workers in the field to assist with line and equipment inspection. In 2022, ComEd also began using drones to support vegetation management.

The drones included in ComEd’s Drone Dock program will be equipped with a high-resolution camera and thermography tools. These features will allow the drones to capture extensive data, digital images and video from all angles of grid equipment, which will then be reviewed to help preemptively address future equipment failure based on equipment conditions and environmental factors.

The docking station, manufactured by Skydio, provides a remote housing unit and launch pad for the drones when not in use. Currently, the technology is installed at ComEd’s Chicago Training Center while ComEd pilots are trained to use the new technology; the installation of additional docks is expected later in 2023 at secure locations throughout ComEd’s service territory.

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube.

Skydio is the leading U.S. drone manufacturer and world leader in autonomous flight. Skydio leverages breakthrough AI to create the world’s most intelligent flying machines for use by consumers, enterprises, and government customers. Founded in 2014, Skydio is made up of leading experts in AI, robotics, cameras, and electric vehicles from top companies, research labs, and universities from around the world. Skydio designs, assembles, and supports its products in the U.S. from its headquarters in San Mateo, CA, and manufacturing facilities in Hayward, CA, to offer the highest standards of supply chain, manufacturing and data security. Skydio is trusted by leading enterprises across a wide range of industry sectors and is backed by top investors and strategic partners including Andreesen Horowitz, Linse Capital, Next47, IVP, Playground, and NVIDIA.

ComEd
Media Relations
312-394-3500

OMAHA, Neb.--(BUSINESS WIRE)--Werner Enterprises, Inc. (Nasdaq: WERN), one of the nation’s largest transportation and logistics companies, announced today that its Board of Directors declared a regular quarterly cash dividend of $0.13 (thirteen cents) per common share. This dividend will be paid on May 3, 2023, to stockholders of record at the close of business on April 17, 2023.

Werner Enterprises has paid a quarterly cash dividend to its stockholders every quarter since July 1987.

Werner Enterprises, Inc. delivers superior truckload transportation and logistics services to customers across the United States, Mexico and Canada. With 2022 revenues of $3.3 billion, an industry-leading modern truck and trailer fleet, over 14,000 talented associates and our innovative Werner EDGE technology, we are an essential solutions provider for customers who value the integrity of their supply chain and require safe and exceptional on-time service. Werner provides Dedicated and One-Way Truckload services as well as Logistics services that include truckload brokerage, freight management, intermodal and final mile. As an industry leader, Werner is deeply committed to promoting sustainability and supporting diversity, equity and inclusion.

John J. Steele
Executive Vice President, Treasurer
and Chief Financial Officer
(402) 894-3036

SEATTLE & EUNICE, N.M.--(BUSINESS WIRE)--#MMR--Ultra Safe Nuclear Corporation (USNC), the U.S.-based global leader in the deployment of fourth-generation gas-cooled microreactors, and Urenco USA, operated by Louisiana Energy Services LLC, the only U.S. commercial producer supplying uranium enrichment services, announced an enrichment services supply agreement as part of the fuel supply program for USNC’s Micro-Modular™ Reactor (MMR®).

Ultra Safe Nuclear Corporation will purchase enriched uranium product (EUP) from Urenco USA for use in the manufacture of Tri-structural Isotropic (TRISO) particles and Fully Ceramic Micro-encapsulated (FCM®) fuel via USNC’s planned joint venture with Framatome in the United States. The EUP will be produced and supplied by the Urenco USA uranium enrichment facility located in New Mexico. This purchase marks the first commercial supply of EUP for use in an advanced reactor anywhere in the world.

Terms and details of the supply agreement are commercially confidential and will not be disclosed publicly. This agreement strengthens USNC’s vertical integration across the value chain to maximize competitive advantage and reduce risk by securing sufficient quantities of EUP to support MMR active deployments.

“We’ve been working hard to manage and de-risk the front end of our fuel cycle,” said Kurt Terrani, Executive Vice President at Ultra Safe Nuclear. “With others facing so much uncertainty regarding fuel supply, it is vital to have reliable commercial partners to source, transport, and deconvert our EUP, feeding our fuel factory operations.”

“UUSA is preparing to supply the fuels that will be required by the next generation of advanced reactors,” said Karen Fili, President and Chief Executive Officer at Urenco USA. “By leveraging our U.S. infrastructure and highly skilled workforce, UUSA is well-positioned to supply enriched uranium product to fuel those reactors, as needed by the market and supported by long-term supply agreements.”

This first batch of EUP is slated for delivery to the USNC-Framatome fuel manufacturing joint venture in 2025, coinciding with the start of their TRISO and FCM fuel factory operations. This fuel production capacity will be used to fuel USNC’s MMR deployments with some availability to the wider advanced reactor market.

The MMR Energy System is a fourth-generation nuclear energy system that delivers safe, clean, and cost-effective electricity and process heat to users anywhere. The MMR is being licensed in Canada and the U.S. and will be the first commercially available "nuclear battery." MMR deployments are moving forward, including the projects at Chalk River which is on target for first power in 2026, and the University of Illinois Urbana-Champaign, targeted for first power the following year.

About Ultra Safe Nuclear Corporation

Ultra Safe Nuclear Corporation, a U.S. corporation headquartered in Seattle, is a global leader and strong vertical integrator of nuclear technologies and services, on Earth and in Space. The company produces the Micro-Modular™ Reactor (MMR®), Fully Ceramic Micro-encapsulated FCM® nuclear fuel, and nuclear power and propulsion technologies for space exploration.

The company has active MMR deployment projects at the Canadian Nuclear Laboratories with Ontario Power Generation and at the University of Illinois Urbana-Champaign. Additional deployments are in development in the United States, Canada, and Europe. Ultra Safe Nuclear is working in collaboration with NASA and the Department of Defense on advanced radioisotope-based power production technology, nuclear thermal propulsion systems and advanced materials using the same foundational inherent and intrinsic safety principles to drive innovation in fuels, materials, and design.

Ultra Safe Nuclear is committed to opening new markets around the world for safe, commercially competitive, clean, and reliable heat and power from nuclear energy. The cornerstone of USNC’s technology is FCM fuel. Based on proven and trusted TRISO fuel particles, FCM enhances safety through proprietary technology to embed TRISO particles in a silicon carbide matrix. Ultra Safe Nuclear is the only privately funded company actively producing TRISO and FCM fuels.

USNC vertical integration captures the entire value chain, from fuel manufacturing to reactor construction and operation, maximizes competitive advantage and reduces risk. Ultra Safe Nuclear is Reliable Zero-Carbon Energy. Anywhere.

About Urenco USA

Urenco USA (UUSA), operated by Louisiana Energy Services, LLC, is the only operating commercial enrichment facility in the United States. Located in southeastern New Mexico, UUSA plays an essential role in the nuclear fuel supply chain. Our focus is on providing safe, cost-effective and reliable uranium enrichment services for power generation within a framework of high environmental, social responsibility, and corporate governance standards.

UUSA is operated by a dedicated U.S. workforce and regulated by the Nuclear Regulatory Commission (NRC). UUSA is a wholly owned subsidiary of Urenco Enrichment Company Limited, an international supplier of enrichment services and fuel cycle products for the civil nuclear industry, serving utility customers worldwide who provide low carbon electricity through nuclear generation.

As a leader in the nuclear industry, and with over 50 years of expertise in uranium enrichment, Urenco is well-positioned to provide the enrichment services needed to support the latest advancements and innovations in nuclear fuel production. Urenco is committed to continued investment in the responsible management of nuclear materials; innovation activities with clear sustainability benefits, such as nuclear medicine, industrial efficiency and research; and, nurturing the next generation of scientists and engineers.

Visit urencousa.com

Ultra Safe Nuclear Contact
Brian Meeley
Phone: 703.282.0691 (m)
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Urenco USA Contact
Lisa Hardison
Phone: 505.410.8335 (m)
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WARRENVILLE, Ill.--(BUSINESS WIRE)--Fuel Tech, Inc. (NASDAQ: FTEK), a technology company providing advanced engineering solutions for the optimization of combustion systems, emissions control and water treatment in utility and industrial applications, today announced the receipt of multiple air pollution control (APC) contracts from new and existing customers in the US, Europe and the Pacific Rim. These awards support projects serving various end markets, and have an aggregate value of approximately $5.2 million.

Two separate contracts were received from existing US utility customers for NO_xOUT^® Selective Non-Catalytic Reduction (SNCR) systems. Fuel Tech’s SNCR technology is a proven solution for utility and industrial combustion unit owners looking to comply with more stringent NO_x control requirements. One order is for a coal-fired unit in the Midwest and the other is for a unit on the East Coast that fires oil and natural gas. The Company believes that the purchase of SNCR systems is being driven by the proposed EPA Good Neighbor Rule, which is expected to finalize in the first quarter of 2023. Equipment deliveries are expected in the second and third quarters of 2023.

An order was received in the US for two ULTRA^® systems to be installed on natural gas-fired turbines at a university on the West Coast. Fuel Tech’s ULTRA process provides for the safe and cost-effective on-site conversion of urea to ammonia for use as a reagent where Selective Catalytic Reduction (SCR) is used to reduce NO_x, eliminating the hazards associated with the transport, storage and handling of anhydrous or aqueous ammonia. Deliveries are expected to be completed in the third quarter of 2023.

Two additional orders in the US were received for ULTRA systems on the West Coast. The first contract was for three ULTRA systems to replace ammonia based equipment for SCR systems already deployed on package boilers at a medical facility. Deliveries are expected in the third quarter of 2023. The second ULTRA order was for an industrial unit firing natural gas at a paper production facility with an estimated second quarter 2023 delivery.

In Europe, separate orders were received for a NO_xOUT SNCR system for a biomass-fired unit and for a system utilizing SCR technology for a gas turbine application; delivery of both orders is expected in the third quarter of 2023. In China, a spare parts order was received for a previously installed ULTRA system, and delivery is expected in the third quarter of 2023.

Vincent J. Arnone, President and Chief Executive Officer, commented, “We are pleased to announce these contract awards which represent continued growth of Fuel Tech’s ULTRA technology solution that provides a safe reagent alternative to ammonia for SCR systems near hospitals and universities as two specific market segments. The domestic SNCR awards will assist our customers’ needs as they seek to comply with current and future NOx reduction requirements generated by the EPA creating a final rule as a next phase of the Cross State Air Pollution Rule to meet the Good Neighbor provision of the Clean Air Act. The new Rule is expected to be issued in the next few weeks and could create a number of opportunities for both SNCR and SCR technology over the next several years.”

About Fuel Tech

Fuel Tech develops and commercializes state-of-the-art proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. These technologies enable customers to operate in a cost-effective and environmentally sustainable manner. Fuel Tech is a leader in nitrogen oxide (NO_x) reduction and particulate control technologies and its solutions have been in installed on over 1,200 utility, industrial and municipal units worldwide. The Company’s FUEL CHEM^® technology improves the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion and opacity.

Water treatment technologies include DGI™ Dissolved Gas Infusion Systems which utilize a patented channel injector to deliver supersaturated oxygen solutions and other gas-water combinations to target process applications or environmental issues. This infusion process has a variety of applications in the water and wastewater industries, including remediation, aeration, biological treatment and wastewater odor management. Many of Fuel Tech’s products and services rely heavily on the Company’s exceptional Computational Fluid Dynamics modeling capabilities, which are enhanced by internally developed, high-end visualization software. For more information, visit Fuel Tech’s web site at www.ftek.com.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” as defined in Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect Fuel Tech’s current expectations regarding future growth, results of operations, cash flows, performance and business prospects, and opportunities, as well as assumptions made by, and information currently available to, our management. Fuel Tech has tried to identify forward-looking statements by using words such as “anticipate,” “believe,” “plan,” “expect,” “estimate,” “intend,” “will,” and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on information currently available to Fuel Tech and are subject to various risks, uncertainties, and other factors, including, but not limited to, those discussed in Fuel Tech’s Annual Report on Form 10-K in Item 1A under the caption “Risk Factors,” and subsequent filings under the Securities Exchange Act of 1934, as amended, which could cause Fuel Tech’s actual growth, results of operations, financial condition, cash flows, performance and business prospects and opportunities to differ materially from those expressed in, or implied by, these statements. Fuel Tech undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances or for any other reason. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those detailed in Fuel Tech’s filings with the Securities and Exchange Commission.

Vince Arnone
President and Chief Executive Officer
(630) 845-4500

Devin Sullivan
Managing Director
The Equity Group Inc.
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SACRAMENTO, Calif.--(BUSINESS WIRE)--#CFP--e-Mission Control (eMC), a SaaS solution provider for clean fuel program management, announced that it has expanded its business operations internationally to Canada. e-Mission Control, based in Sacramento and Vancouver, is engaging clients in the Canadian province of British Columbia, which has an active clean fuel program called the Low Carbon Fuel Standard (LCFS). e-Mission Control is also poised to enroll businesses, nonprofits, and public agencies in Canada’s national Clean Fuel Standard, scheduled to launch in July of 2023.

eMC helps hundreds of electric fleets up and down the West Coast of the United States and Canada participate in clean fuel programs that accelerate their transition to electric equipment and vehicles through necessary incentive funding. As a zero-emission evangelist, eMC educates organizations every day on why they should account for the revenue from these long-lasting programs in their TCO analysis and how participation allows them to capture an accurate picture of the greenhouse gas emissions they're displacing by forgoing diesel and gasoline.

Using a proprietary software platform, eMC streamlines the registration of fleets in applicable clean fuel programs such as the British Columbia LCFS and manages all energy consumption data, metering, and reporting requirements. As a one-stop solution, eMC manages credit validation with the government agency overseeing the program and ensures the timely sale of credits and proceeds remittance to eMC partners so they can reinvest in electrification.

“I’m excited to see the advancement of clean fuel programs not only in the United States, but in Canada as well. We have been engaging with owners and operators of fleets in British Columbia that have transitioned their Class 1-8 transportation to electric counterparts and through LCFS participation, they now have a new financial tool to further their electrification goals,” said Todd Trauman, e-Mission Control’s CEO. “Our SaaS solution makes us well-positioned to quickly onboard and manage British Columbia and Canadian entities in their respective clean fuel programs and seamlessly supports the intricacies of all states, provinces, and countries rolling out clean fuel programs in the future,” added Todd.

About e-Mission Control

e-Mission Control is a SaaS company that designs, manages, and executes electricity consumption data platforms and services for forward-thinking on- and off-road vehicle fleet operators. With a specific focus on clean fuel programs in California, Oregon, Washington, and British Columbia, e-Mission Control partners with owners and operators of zero-emission vehicles and equipment at airports, seaports, retailers, grocers, manufacturers, campuses, distribution facilities, municipalities and many others along the West Coast and beyond. For more information about Canadian clean fuel programs or about e-Mission Control, please visit www.e-missioncontrol.ca.

Colleen Harrison
Telephone: (916) 261-6483
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) has been awarded a substantial⁽¹⁾ contract by Azule Energy to supply flexible pipe for the Agogo Integrated West Hub Development Project, offshore Angola.

The contract is one of TechnipFMC’s largest ever awards for flexible pipe in West Africa, and covers the engineering, procurement, and supply of jumpers, flowlines, risers, and all associated ancillary equipment. The flexible pipe will connect the new Agogo facility to the subsea production systems.

Azule Energy, a bp and Eni company, is the operator of Block 15/06 in Angola offshore, partnering with Sonangol P&P and SSI Fifteen Limited.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “Our ability to meet Azule’s flexible pipe needs, which allows for optimized riser and flowline system configuration, was instrumental in winning this award. This is another example of our unique capability to support fast-track greenfield developments, and we are excited to be supporting Azule Energy and its partners on this project.”

(1) For TechnipFMC, a “substantial” contract is between $250 million and $500 million.

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
Senior Vice President, Investor Relations and Corporate Development
Tel: +1 281 260 3665
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James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
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Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
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Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
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