LAS VEGAS--(BUSINESS WIRE)--$AP #7kW_wall_mount--Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced today that its power electronics business, Coolisys Technologies Corp. (“Coolisys”), has received a $10.5 million purchase order for 30,000 7kW residential EV charging systems. Coolisys received the purchase order in conjunction with entering into a three-year Purchase and Resale Agreement (“Agreement”) for the residential chargers with Origin Micro and its subsidiary, iNetSupply.com (collectively, “iNet”). Coolisys anticipates that it will, in connection with fulfilling the purchase order, sell accessories to the residential charging EV systems in the approximate amount of $1.5 million through iNet. The 7kW wall-mount charging system runs on 208/240 volts and is compatible with the SAE J1772 charging connector, with the option to add an adapter to charge Tesla vehicles.

iNet is a leader in distributing new products for many popular brands including Lenovo, Dell, HP and Cisco through its strong relationships with traditional and e-commerce channels and platforms. The 7kW wall-mount residential charger and its peripherals will be available for purchase and preorder at iNetSupply.com. We expect that the 7kW wall-mount charger and peripherals will during the next few months be listed on Newegg.com, NeweggBusiness.com, Amazon.com, eBay.com and Walmart.com. iNet is highly regarded for delivering product integrity and customer service to businesses and consumers.

iNet’s President, Donald G. Doney, Jr. stated, “The future of humanity’s daily transportation lies in the development of EV and EV infrastructure. Affordable, rapid charging of those millions of EV’s requires expertly engineered devices that are easy to use and install. We are excited to enter this agreement with Coolisys and navigate the growth of Coolisys’ groundbreaking residential line of chargers to the public.”

Coolisys’ President and CEO, Amos Kohn said, “We are pleased to announce this purchase and resale agreement with iNet along with our second purchase order from iNet. We look forward to cultivating the opportunities that iNet can provide in what we anticipate being a burgeoning relationship. iNet provides the level of experience, knowledge, integrity, and professionalism that we believe to be required to launch, manage, and grow our residential EV charging product line. We believe our EV residential charger product line will be well positioned to address the expected rapid expansion of infrastructure required to support broad adoption of electric vehicles globally.”

For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.

About Ault Global Holdings, Inc.

Ault Global Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holding’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.

About Coolisys Technologies Corp.

Coolisys designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications in the harshest environments and lifesaving, life-sustaining applications and electric vehicle supply equipment across diverse markets including automotive, defense/aerospace, medical/healthcare, industrial and telecommunications. Coolisys’ headquarters are located at 1635 South Main Street, Milpitas, CA 95035; www.Coolisys.com.

Forward-Looking Statements

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. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.AultGlobal.com.

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Rail-specific SaaS module offers end-to-end management including master and working roster generation, time and attendance capture and payroll analytics

OAKLAND, Calif.--(BUSINESS WIRE)--Navis, a part of Cargotec Corporation, and the provider of software for freight rail planning, scheduling and analytics, has announced the development of a new module for the optimization and management of crew scheduling, master rosters and working rosters.

The system, a part of the cloud-based Navis Rail Planning Suite, also provides the tools to manage short-term changes to timetables and staff availability; electronically capture and record staff attendance; and extract reports for payroll and analytics.

According to Tom Forbes, Head of Navis Rail, freight railway crew management is one of the largest variable costs for a railway and general-purpose personnel scheduling and rostering systems do not meet the challenges of workforce management for a freight railway. “Rail undertakings need rail-specific process management to build safe and efficient crew rosters that simultaneously consider personnel, route, traction, workflow, rules, regulations, labor agreements and other constraints,” said Forbes.

Navis Rail’s Workforce Management, a software-as-a-service (SaaS) system, is integrated with the company’s suite of service design tools for train and rollingstock planning. The complete application supports railways’ workforce management end-to-end, from master roster development through to capture of time and attendance. Its mobile portal allows workers to view their rosters, see roster changes, respond to call-in shift offers and record their attendances electronically.

To register for the Navis Rail webinar “The Importance of Workforce Management Tools in Freight Rail Operations,” on April 14 at 3:00 PM CEST / April 15 at 11:00 AM AEST, click here.

For more information on Navis Rail, visit https://www.navis.com/en/products/rail-solutions/

About Navis, LLC

Navis, a part of Cargotec Corporation, is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations. www.navis.com

About Cargotec Corporation

Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec has signed United Nations Global Compact’s Business Ambition for 1.5°C. The company’s sales in 2020 totalled approximately EUR 3.3 billion and it employs around 11,500 people. www.cargotec.com

Jennifer Grinold
Navis, LLC
T+1 510 267 5002
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Geena Pickering
Affect
T+1 212 398 9680
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DAYTON, Ohio--(BUSINESS WIRE)--REX American Resources Corporation (NYSE: REX) (“REX” or “the Company”) today reported financial results for its fiscal 2020 fourth quarter (“Q4 ‘20”) ended January 31, 2021. REX management will host a conference call and webcast today at 11:00 a.m. ET.

REX American Resources’ Q4 ‘20 results principally reflect its interests in six ethanol production facilities and its refined coal operation. The One Earth Energy, LLC (“One Earth”) and NuGen Energy, LLC (“NuGen”) ethanol production facilities are consolidated, as is the refined coal entity, while those of its four other ethanol plants are reported as equity in income of unconsolidated ethanol affiliates. The Company reports results for its two business segments as ethanol and by-products, and refined coal.

REX’s Q4 ‘20 net sales and revenue were $126.0 million, compared with $120.9 million in Q4 ‘19. The year-over-year net sales and revenue increase was primarily due to higher pricing of dried distillers grains and modified distillers grains, as well as higher ethanol production levels, which more than offset lower ethanol pricing. Primarily reflecting these factors, Q4 ‘20 gross profit for the Company’s ethanol and by-products segment increased to $8.3 million, compared with $8.1 million in Q4 ‘19. As a result, the ethanol and by-products segment had income before income taxes of $5.3 million in Q4 ‘20, compared to income of $5.0 million in Q4 ‘19. The Company’s refined coal operation incurred a $1.4 million gross loss and a $1.6 million loss before income taxes in Q4 ‘20, compared to a $1.5 million gross loss and a loss before income taxes of $1.4 million in Q4 ‘19. REX reported Q4 ‘20 income before income taxes and non-controlling interests of $3.2 million, compared with income before income taxes and non-controlling interests of $2.8 million in the comparable year ago period. While the refined coal operation negatively impacted gross profit and income before income taxes, it contributed a tax benefit of $1.7 million and $1.5 million for Q4 ‘20 and Q4 ‘19, respectively.

Net income attributable to REX shareholders in Q4 ‘20 was $3.5 million, compared to net income of $4.4 million in Q4 ‘19. Q4 ‘20 basic and diluted net income per share attributable to REX common shareholders was $0.59, compared to net income per share of $0.70 in Q4 ‘19. Per share results in Q4 ‘20 and Q4 ‘19 are based on 6,008,000 and 6,320,000 diluted weighted average shares outstanding, respectively.

REX American Resources’ Chief Executive Officer, Zafar Rizvi, commented, “Fiscal 2020 proved to be a challenging year with the impact of Covid, however we are pleased to report earnings per share of $0.59 for the fourth quarter on the back of a profitable third quarter, reflecting the resiliency of our business and the efficiency of our plants and operations.”

“As we move forward into 2021 with all of our plants in operation, we remain optimistic for improved ethanol demand as we emerge from the impact of the pandemic and continue to be focused on creating additional shareholder value through our disciplined operating approach and strategic use of our strong balance sheet and liquidity position.”

Balance Sheet

At January 31, 2021, REX had cash and cash equivalents and short-term investments of $180.7 million, $48.2 million of which was at the parent company, and $132.5 million of which was at its consolidated production facilities. This compares with cash, cash equivalents and short-term investments at January 31, 2020, of $205.7 million, $62.3 million of which was at the parent company, and $143.4 million of which was at its consolidated ethanol production facilities.

Supplemental data related to REX’s ethanol interests:

Fourth Quarter Conference Call

REX will host a conference call at 11:00 a.m. ET today. Senior management will discuss the quarterly financial results and host a question and answer session. The dial in number for the audio conference call is 212/231-2920 (domestic and international callers).

Participants can also listen to a live webcast of the call on the Company’s website, www.rexamerican.com/Corp/Page4.aspx. A webcast replay will be available for 30 days following the live event at www.rexamerican.com/Corp/Page4.aspx.

About REX American Resources Corporation

REX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 605 million gallons of ethanol over the twelve-month period ended January 31, 2021. REX’s effective ownership of the trailing twelve-month gallons shipped (for the twelve months ended January 31, 2021) by the ethanol production facilities in which it has ownership interests was approximately 222 million gallons. In addition, the Company acquired a refined coal operation in August 2017. Further information about REX is available at www.rexamerican.com.

This news announcement contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by use of forward-looking terminology such as “may,” “expect,” “believe,” “estimate,” “anticipate” or “continue” or the negative thereof or other variations thereon or comparable terminology. Readers are cautioned that there are risks and uncertainties that could cause actual events or results to differ materially from those referred to in such forward-looking statements. These risks and uncertainties include the risk factors set forth from time to time in the Company’s filings with the Securities and Exchange Commission and include among other things: the effect of pandemics such as COVID-19 on the Company’s business operations, including impacts on supplies, demand, personnel and other factors, the impact of legislative and regulatory changes, the price volatility and availability of corn, distillers grains, ethanol, non-food grade corn oil, gasoline and natural gas, ethanol and refined coal plants operating efficiently and according to forecasts and projections, changes in the international, national or regional economies, weather, results of income tax audits, changes in income tax laws or regulations, the impact of U.S. foreign trade policy, changes in foreign currency exchange rates and the effects of terrorism or acts of war. The Company does not intend to update publicly any forward-looking statements except as required by law.

- statements of operations follow -

- balance sheets follow -

- statements of cash flows follow -

Douglas Bruggeman Joseph Jaffoni, Norberto Aja
Chief Financial Officer JCIR
(937) 276‑3931 (212) 835-8500
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• Second of three contract options exercised under the sole source Flight Control Systems (FCS) domain of the Army’s multi-year Small Unmanned Aircraft Systems contract
• Total projected value of contract action is $55 million; $42 million now funded and awarded
• U.S. Army possesses largest fleet of Raven tactical unmanned aircraft systems in the world

SIMI VALLEY, Calif.--(BUSINESS WIRE)--$AVAV #AeroVironment--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in Unmanned Aircraft Systems (UAS), today announced the United States Army exercised the second of three options under the sole source Flight Control Systems (FCS) domain of the Army’s multi-year small UAS contract on February 25, 2021. The value of the contract option is $20,979,905 and includes avionics and data link upgrade packages to modify radio frequencies employed by the Army’s existing fleet of Raven^® tactical UAS. The period of Performance ends June 30, 2022.

The contract option was exercised under the Army’s FCS domain awarded to AeroVironment in June 2019 with an initial base delivery order of $862,488. FCS is the first of six domains comprising the Army’s existing five-year Indefinite Delivery, Indefinite Quantity (IDIQ) SUAS contract and has a potential value of up to $55 million. The Army’s first option under the existing contract – valued at $21,058,643 – was exercised in April 2020, bringing the total value to date to $42,901,035.

“The U.S. Army possesses the largest fleet of Raven small unmanned aircraft systems in the world. For more than a decade, Raven systems have provided frontline Soldiers with increased mission effectiveness, safety and situational awareness so they can proceed with certainty,” said Trace Stevenson, vice president and product line general manager of small UAS.

The Raven system is designed for rapid deployment and high mobility for operations requiring low-altitude Intelligence, Surveillance and Reconnaissance (ISR). With a wingspan of 4.5 feet and weighing just 4.2 pounds (1.9 kilograms), the hand-launched Raven provides situational awareness, day or night, with an operational range of 6.2 miles (10 kilometers). The Raven’s Mantis i23 EO/IR gimbaled payload delivers real-time video or infrared imagery to ground control and remote viewing stations.

AeroVironment’s family of tactical UAS comprises the majority of all unmanned aircraft in the U.S. Department of Defense (DoD) inventory, and its rapidly growing international customer base numbers more than 50 allied governments. To learn more, visit www.avinc.com.

ABOUT AEROVIRONMENT UNMANNED AIRCRAFT SOLUTIONS

AeroVironment’s portfolio of intelligent, multi-domain robotic systems includes small footprint, runway-independent unmanned aircraft systems. The JUMP 20, T-20 and Puma^™ LE provide extended range, multi-payload capabilities, and the Puma^™ RQ-20, Raven^® RQ-11B, Wasp^® RQ-12A, VAPOR^® Helicopter and automated Quantix^™ Recon deliver highly tactical, frontline situational awareness. These solutions deliver increased, multi-mission capabilities and the option of selecting the appropriate aircraft based on the type of mission performed. These capabilities have the potential to provide significant force protection and force multiplication benefits to small tactical units and security personnel, as well as greater safety, scalability and cost-savings to commercial operators. AeroVironment provides turnkey ISR and support services worldwide to ensure a consistently high level of mission success. AeroVironment has delivered tens of thousands of new and replacement unmanned air vehicles to customers within the United States and to more than 50 allied governments. For more information, visit https://www.avinc.com/uas.

ABOUT AEROVIRONMENT, INC.

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Celebrating 50 years of innovation, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves defense, government and commercial customers. For more information, visit www.avinc.com.

SAFE HARBOR STATEMENT

Certain statements in this press release may constitute “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Makayla Thomas
AeroVironment, Inc.
+1 (805) 520-8350
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Mark Boyer
For AeroVironment, Inc.
+1 (213) 247-4109
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First-Ever Implementation of Intelligent Factory Control Guarantees Water and Chemical Safety

HOUSTON & BROOKLYN, N.Y.--(BUSINESS WIRE)--#IntelligentFactoryControl--Solugen Inc., an emerging specialty chemicals manufacturer and the world’s first and only producer of bioperoxide^TM solutions and carbon negative glucaric acid, and Nanotronics, developer of the world’s most advanced robotic industrial microscope that combines AI, automation, and sophisticated imaging for industrial inspection, today announced a partnership intended to ensure clean water production and safety. The collaboration will address any risks associated with chemical contamination and prevent potential malicious activity by incorporating Nanotronics’ proprietary Intelligent Factory Control during the production process. The partnership agreement is in the midst of a 2-year pilot program enabling autonomous chemical plants for Solugen, powered by Nanotronics.

“This is an industrial vigilance that doesn’t exist within chemical plants currently and with Nanotronics technology, we are able to detect irregularities and autonomously correct the production process in real-time,” says Gaurab Chakrabarti, M.D., PhD, and co-founder and CEO of Solugen, Inc. “Our current data gathered from the pilot program and the added security measure baked within the production process brings our vision of smaller, autonomous chemical plants, closer to reality.”

Founded in 2016, Solugen produces bio-based solutions that are fundamentally changing the chemicals industry. The company’s first product, Bioperoxide™, was created using patented enzymatic technology to convert plant sugars into hydrogen peroxide and led to the manufacturing of a comprehensive line of products such as its flagship BioSol™ and ScavSol™ solutions. Today, BioSol and ScavSol help treat, clean and oxidize water uses with oil and gas, waste-water treatment and mining chemicals. Solugen’s solutions remove the need for highly combustible and toxic petrochemical-based chemicals to clean water as its products are more efficacious, cheaper, safer to produce, and less hazardous for customers and their employees as well as fully biodegradable. This unique process in concert with the utilization of Nanotronics’ Intelligent Factory Control, reduces waste from the factory itself.

Intelligent Factory Control uses Artificial Intelligence to continuously monitor the production of Solugen products and through reinforcement learning agents, is able to determine whether there are anomalies in the process that are too subtle for humans or traditional control systems to detect. It works inline and defects or anomolies are discovered as they happen, as opposed to further along in the production process. Invisible to the human eye, the process prevents expensive backtracking.

“Sophisticated attacks, or even subtle process variations, have been incredibly challenging to identify even when using the most advanced production protocols. Using AI in this manner will provide a higher level of quality and safety,” says Matthew Putman, CEO and cofounder of Nanotronics. “I applaud Solugen for being the first to address this issue using advanced biology.”

About Solugen

Founded in 2016 by Gaurab Chakrabarti, M.D., Ph.D., and Sean Hunt, Ph.D., Solugen is a specialty chemicals manufacturer and world’s first and only producer of bio-based chemical peroxide solutions that applies green chemistry principles to re-design the production of a variety of ingredients. Solugen's mission is to help the fight against climate change by creating cleaner, greener, and safer chemical processes that reduce reliance on non-renewable resources and energy-intensive manufacturing, without sacrificing safety and efficacy. To learn more, visit www.solugentech.com.

About Nanotronics

Nanotronics is a science technology company that has redefined factory control through the invention of a platform that combines AI, automation and sophisticated imagining to assist human ingenuity in detecting flaws and anomalies in manufacturing. Industry agnostic but customer specific, we work with leading-edge companies across the globe from aerospace to electronics and healthcare, to drive up yield, reduce footprint and waste, lower costs, and speed up design iteration.

Nanotronics is a key player in helping to solidify New York’s role as a global center of the innovation economy. To learn more visit https://nanotronics.co/. Follow the company on LinkedIn, Twitter, Facebook, and Instagram.

Mary Cunney, Nanotronics
Chief Marketing/Communications Officer
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Jack Kerwin, Nanotronics
Business Development Associate
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Solugen, Inc
LoongYi Tan
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Innovative and Flexible IEC certified TS4-A-O Supports Modules and Inverters around the World

CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., the solar industry worldwide leader in Flex-MLPE (Module Level Power Electronics), today announced a new version of its flagship TS4-A-O optimizer, which increases its rated module power to an industry-leading 700-watts. The new product is IEC certified and another milestone in Tigo’s long track record of leadership in innovative MLPE solutions that enhance PV installations from residential to utility-scale size.

Tigo released the new optimizer solution to stay ahead of PV module power, which has increased significantly year over year. It has the highest per-module wattage of any commercially available optimizer on the market, enabling it to work with the newest PV modules, including high-efficiency and bifacial ones.

“We are experiencing increased demand for our optimization solutions on large scale PV installations, which tend to use higher wattage, higher current PV modules,” stated Zvi Alon, Chairman and CEO of Tigo. “This is an enormous technical achievement by our team and lays the foundation for Tigo’s success with our MLPE family with the next generation of PV modules.”

Highlights of the 700W TS4-A-O include:

• Maximum current: 15 amps
• Maximum wattage: 700-watts
• Maximum voltage: 80 volts
• Works with the same CCA and TAP that customers are used to
• Backward compatible for use with older modules
• Easily clips to module frames as thin as 1.2mm
• MC4 connectors, IP68 enclosure rating
• IEC certified

Tigo optimizers recently surpassed 75 GWh of Reclaimed Energy since 2009 for worldwide installations. Reclaimed Energy is the incremental energy generated from Tigo optimizers that would have been lost due to shade and other sources of mismatch if Tigo optimizers were not installed on the PV system.

“We will continue to innovate and invest in industry-leading products that enhance PV projects for our customers,” added Mr. Alon.

The new product retains the same form factor as the previous generation TS4-A-O and works with the same equipment that installers are familiar with. It will be rolled out internationally, beginning in Australia and South America initially, followed by Europe. The 700W TS4-A-O is open for new orders in those markets as inventory is consumed with delivery expected as early as the end of second quarter.

Interested parties should contact the Tigo sales team at www.tigoenergy.com/contacts.

About Tigo

Tigo is the worldwide leader in flexible module level power electronics (MLPE) with innovative solutions that significantly increase energy production, decrease operating costs, and enhance safety of photovoltaic (PV) systems. Tigo’s TS4 platform maximizes the benefit of PV systems and provides customers with the most scalable, versatile, and reliable MLPE solution available. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy worldwide. Tigo systems operate on 7 continents and produce gigawatt hours of reliable, clean, affordable and safe solar energy daily. Tigo's global team is dedicated to making the best MLPE on earth so more people can enjoy the benefits of solar. Visit us at www.tigoenergy.com.

John Lerch
408.402.0802 x430
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KANSAS CITY, Mo.--(BUSINESS WIRE)--Northern Genesis Acquisition Corp. (NYSE: NGA) announces that its proposed business combination partner, The Lion Electric Company (Lion), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, today announced that the company has received a purchase order from Pride Group Enterprises (Pride) for the acquisition of 100 all-electric Lion6 and Lion8 trucks. The order represents Lion’s largest single order of zero-emission trucks to date.

Pride will be integrating the all-electric trucks into its existing logistics, full maintenance, leasing, rental and equipment retail operations throughout the U.S. and Canada, as well as deploying them with a selection of its fleet management clients. The majority of the trucks are expected to be delivered to Pride during 2021, with the remainder of deliveries expected to take place in 2022.

“Partnering with Lion on our zero-emission heavy-duty trucking efforts gives Pride the unique advantage of deploying these vehicles on the road in the very short term, and significantly contributes to our goal of 100% electric vehicles, while gaining valuable experience in zero-emission operations,” said Pride Group Enterprises CEO, Sam Johal. “The ability to offer truly zero-emission freight to our customers is a huge step for our business and environment. Along with the support from one of our long-tern financial partners Hitachi Capital, we are excited about partnering with a Canadian EV OEM and promoting the Canadian brand, in the North American market.”

In addition to supplying the vehicles, Lion will also work to support Pride in key aspects of fleet electrification, including the installation of adequate charging infrastructure as well as integrating advanced telematics services into its operations – data which is critical to maximizing return on investment (ROI) in electric fleets. The Lion6 and Lion8 trucks have ranges of 180 and 165 miles respectively, and will be used for regional shipping operations.

All of Lion’s vehicles are purpose-built for electric propulsion from the ground up, and are manufactured at Lion’s North American facility, which has a current capacity to produce approximately 2,500 electric trucks per year. Over the last decade, Lion has established itself as a leader in the all-electric heavy-duty vehicle industry, having delivered over 300 all-electric heavy-duty vehicles in North America with over 6 million miles driven since 2016.

About Lion Electric

Lion Electric is an innovative manufacturer of zero-emission vehicles. The company creates, designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric buses and minibuses for the school, paratransit and mass transit segments. Lion is a North American leader in electric transportation and designs, builds and assembles all its vehicles’ components, including chassis, battery packs, truck cabins and bus bodies.

Always actively seeking new and reliable technologies, Lion vehicles have unique features that are specifically adapted to its users and their everyday needs. Lion believes that transitioning to all-electric vehicles will lead to major improvements in our society, environment and overall quality of life.

About Northern Genesis Acquisition Corp.

Northern Genesis Acquisition Corp. (NYSE: NGA) is a special purpose acquisition company formed for the purpose of effecting a merger, stock exchange, acquisition, reorganization or similar business combination with one or more businesses. The Northern Genesis management team brings a unique entrepreneurial owner-operator mindset and a proven history of creating shareholder value across the sustainable power and energy value chain. Northern Genesis is committed to helping the next great public company find its path to success; a path which will most certainly recognize the growing sensitivity of customers, employees and investors to alignment with the principles underlying sustainability.

Transaction with Northern Genesis

On November 30, 2020, Lion announced that it had entered into a business combination agreement and plan of reorganization pursuant to which, subject to the satisfaction of customary closing conditions, a wholly-owned subsidiary of Lion will merge with Northern Genesis Acquisition Corp. (NYSE: NGA), a publicly traded special purpose acquisition company focused on a commitment to sustainability and strong alignment with environmental, social and governance principles. Upon completion of the transaction, Lion is expected to be listed on the New York Stock Exchange (NYSE) under the new ticker symbol “LEV”.

Important Information and Where to Find It

In connection with the proposed business combination, Lion Electric filed a registration statement on Form F-4 with the SEC that was declared effective on March 24, 2021 (the “Registration Statement”), which includes a proxy statement of Northern Genesis and a prospectus of Lion Electric. The Registration Statement has been declared effective by the SEC and the definitive proxy statement/prospectus has been mailed out to Northern Genesis’ stockholders. Investors and security holders of Northern Genesis and other interested parties are urged to read the Registration Statement and the definitive proxy statement/prospectus (the “Joint Proxy Statement/Prospectus”), any amendments to the foregoing, and any other documents filed with the SEC, when available, because they will contain important information about Lion Electric, Northern Genesis and the proposed business combination. Investors and security holders of Northern Genesis may obtain free copies of the Joint Proxy Statement/Prospectus and other documents filed with the SEC by Northern Genesis and Lion Electric through the website maintained by the SEC at www.sec.gov or by directing a request to: Northern Genesis Acquisition Corp., 4801 Main Street, Suite 1000, Kansas City, MO 64112 or (816) 514-0324. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.

Participants in the Solicitation

Northern Genesis and its directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from Northern Genesis’ stockholders in respect of the proposed business combination. Lion Electric and its officers and directors may also be deemed participants in such solicitation. Information regarding Northern Genesis’ directors and executive officers is available under the heading “Director and Executive Officers” in its Annual Report on Form 10-K filed with the SEC on March 9, 2021 (the “IPO Prospectus”). Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, which may, in some cases, be different than those of their stockholders generally, are contained in the Joint Proxy Statement/Prospectus and will be contained in other relevant materials to be filed with the SEC in connection with the proposed business combination when they become available. Stockholders, potential investors and other interested persons should read the Joint Proxy Statement/Prospectus carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.

No Offer or Solicitation

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval. No offer of securities, other than with respect to the concurrent private placement of Lion shares as described in the Registration Statement, shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

Forward-Looking Statements

All statements other than statements of historical facts contained in this press release constitute “forward-looking statements” (which shall include forward-looking information within the meaning of Canadian securities laws) within the meaning of Section 27A of the Securities Act. Forward-looking statements may generally be identified by the use of words such as “believe,” “may,” “will,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “could,” “plan,” “project,” “potential,” “seem,” “seek,” “future,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. These forward-looking statements include, but are not limited to, statements regarding the transaction, including with respect to timing and closing thereof and the ability to consummate the transaction. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Lion Electric’s and Northern Genesis’ management and are not predictions of actual performance. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Lion Electric and Northern Genesis, and are based on a number of assumptions, as well as other factors that Lion Electric and Northern Genesis believe are appropriate and reasonable in the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct or that the Lion Electric’s vision, business, objectives, plans and strategies will be achieved. Many risks and uncertainties could cause Lion Electric’s actual results, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including those factors discussed in the Registration Statement and Joint Proxy Statement/Prospectus, as well as other documents filed or to be filed by Lion Electric or Northern Genesis in accordance with applicable securities laws. These factors are not intended to represent a complete list of the factors that could affect Northern Genesis or Lion Electric, and there may be additional risks that neither Northern Genesis nor Lion Electric presently know or that Northern Genesis and Lion Electric currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Northern Genesis’ and Lion Electric’s expectations, plans or forecasts of future events and views as of the date of this press release. Northern Genesis and Lion Electric anticipate that subsequent events and developments will cause their respective assessments to change. However, while Northern Genesis and Lion Electric may elect to update these forward-looking statements at some point in the future, Northern Genesis and Lion Electric have no intention and undertake no obligation to do so except as required by applicable law. These forward-looking statements should not be relied upon as representing Northern Genesis’ and Lion Electric’s assessments as of any date subsequent to the date of this press release.

Northern Genesis Contact:
Investor Relations
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Report highlights key commitments such as saving $300,000 in energy costs for one customer alone

BOSTON--(BUSINESS WIRE)--Veolia North America is proud to release its annual Sustainability Report, featuring the results of Veolia’s program to set ambitious sustainability goals, which allowed their clients and communities to save energy, reduce waste and preserve precious natural resources.

Veolia North America has made significant strides toward a number of sustainability commitments, including diagnosing and generating biodiversity action plans in 79% of our sites as well as reducing 2.5 million metric tons of CO₂ emissions. Recognized for its innovation, Veolia was presented with a 2019 SEAL Environmental Initiative Award for its Hubgrade smart monitoring system, which helps buildings manage their energy use. Veolia has also received recognition for its sustainable development goals from the industry-leading external rating agencies including CDP, Ecovadis and the Dow Jones Sustainability Indexes.

The report highlights where Veolia has demonstrated superior execution and performance for its customers and facilitates businesses’ shift toward green, circular solutions. For example, the evaluation of a 2.8 million square foot industrial complex led to a reduction of its energy use by 20%. The company’s efforts helped a food manufacturer divert 40 tons of waste from landfills as well as assisted an oil and gas producer in water-stressed California to reuse 50% of their produced water – so much so that 20,000 barrels a day was clean enough to recharge a local creek.

“I am thrilled that our company remains focused on circularity and ecological transformation, delivering the essential services that people rely on to persevere,” said Brian Clarke, president and CEO of Veolia North America. “Veolia North America is committed to solving green challenges and delivering innovative, creative solutions for the future. We are providing superior service while protecting our environment and meeting our mission goals around sustainability.”

Read the report to learn how Veolia North America actively manages customers' waste streams, from treating 13 million gallons of wastewater per day outside Honolulu to helping Florida’s Gulf Coast preserve its stunning natural resources.

About Veolia North America

A subsidiary of Veolia group, Veolia North America (VNA) offers a full spectrum of water, waste and energy management services, including water and wastewater treatment, commercial and hazardous waste collection and disposal, energy consulting and resource recovery. VNA helps commercial, industrial, healthcare, higher education and municipality customers throughout North America. Headquartered in Boston, Mass., Veolia North America has more than 7,000 employees working at more than 250 locations across the continent. www.veolianorthamerica.com

About Veolia

Veolia group is the global leader in optimized resource management. With nearly 179,000 employees worldwide, the Group designs and provides water, waste and energy management solutions which contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them. In 2019, the Veolia group supplied 98 million people with drinking water and 67 million people with wastewater services, produced nearly 45 million megawatt hours of energy and treated 50 million metric tons of waste. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €27.189 billion in 2019 (USD 29.9 billion). www.veolia.com

Media Contact:
Sally Darling
(281) 414-2967
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Conference Call to be Held Today at 11 am ET

SOLON, Ohio--(BUSINESS WIRE)--Energy Focus, Inc. (NASDAQ:EFOI), a leader in sustainable and human-centric lighting (“HCL”) technologies, and who recently announced development of a range of UV-C disinfection (“UVCD”) products, today announced financial results for its fourth quarter and fiscal year ended December 31, 2020.

Full Year 2020 and Subsequent Business Highlights

• Net sales of $16.8 million, up 32.5% from 2019
• Gross profit margin of 30.8%, up from 15.5% last year; gross profit more than doubled to $5.2 million from $2.0 million
• Loss from operations of $4.1 million, a year-over-year improvement of $2.9 million
• Cash of $1.8 million as of December 31, 2020 compared to $0.4 million as of December 31, 2019
• Subsequent to year-end, $0.8 million Paycheck Protection Program loan was forgiven

“Fourth quarter 2020 results reflect the cyclical slowness in our military and maritime business, as well as the broad impact of the COVID-19 pandemic on our commercial business, general shipping cost increases and supply chain disruptions,” commented James Tu, Chairman and CEO of Energy Focus. “For full year 2020, despite the unprecedented headwinds we encountered for our commercial business due to the pandemic, which dramatically slowed down lighting retrofit activities, we continued to improve our operational and financial performance, significantly growing our military and maritime business, while increasing our gross margin percentages and reducing our operating losses, all while still strengthening our balance sheet and liquidity.”

“We entered 2021 poised for exciting growth, driven particularly by our commercial lighting business and the forthcoming UVCD product lines,” continued Mr. Tu. “The overall customer reaction to our new family of patent-pending EnFocus^TM lighting control platform has been quite positive and enthusiastic, and we significantly strengthened our sales and marketing organizations that resulted in an expanded distribution network with new agency and channel partners. These developments give us optimism and confidence for our growth prospects as the reopening of the economy accelerates throughout 2021.”

“Meanwhile, our portfolio of germicidal UVCD products, with advanced, patent-pending technologies designed to destroy over 99.9 percent of various pathogens, including coronavirus and influenza, are garnering significant commercial interest,” Mr. Tu added. “In addition, our recently developed robotic UV-C surface disinfection services, mUVeCrew, is now being piloted at potential customer sites. We believe that these innovative and unique products and solutions, currently being finalized and will start deliveries later in second quarter of 2021, will help people and organizations return to normal social activities through effective and powerful disinfection capabilities. They also open up a completely new, emerging and potentially large market that could propel our growth in the coming quarters and likely years.”

“We are particularly grateful for the tireless efforts and contributions from our employee team members, the proactive collaborations from our suppliers, and continued business from our customers during the past year as we navigated through the COVID-19 pandemic,” concluded Mr. Tu. “We believe that our rapidly expanding human-centric lighting product offerings - ranging from flicker-free, high-quality LED lamps and modular fixtures, to EnFocus^TM dimmable and color tunable control systems, as well as our comprehensive, cutting-edge UVCD solutions - represent the most advanced and sustainable lighting product portfolio in the marketplace today that optimizes financial, environmental and human impacts, and we are aiming to achieve a breakout year in 2021 as the macro-economic environment improves and the adoptions of our existing and new products expand in meaningful ways.”

Full-Year 2020 Financial Results

Net sales were $16.8 million for 2020, compared with $12.7 million for 2019. Net sales from commercial products were $5.4 million, or 32.1% of total net sales, for 2020, compared with $7.9 million, or 62.0% of total net sales, for 2019. The decrease in net sales of commercial products reflects fluctuations in the timing, pace and size of commercial projects, including impacts of the COVID-19 pandemic. Net sales from military and maritime market (“MMM”) products were $11.4 million, or 67.9% of total net sales, for 2020, compared with $4.8 million, or 38.0% of total net sales, for 2019. In addition to new contracts awarded and in-house sales growth in 2020, MMM sales were lower in 2019 primarily due to two of our products that were pending evaluation by government procurement authorities.

Gross profit was $5.2 million, or 30.8% of net sales, for 2020, compared with gross profit of $2.0 million, or 15.5% of net sales for 2019. The year-over-year increase in gross margin was driven primarily by sales product mix, the margin impact from increased MMM product sales, favorable price and usage variances for material and labor of $0.9 million, or 5.5% of net sales, and favorable inventory reserve adjustments of $0.6 million, or 3.7% of net sales, which more than offset unexpected additional manufacturing costs due to supply chain challenges relating primarily to MMM products. Adjusted gross margin, as defined under “Non-GAAP Measures” below, was 27.1% for full-year 2020, compared to 15.9% in the prior year.

Operating loss was $4.1 million for 2020. This compares with an operating loss of $7.0 million for 2019.

Net loss was $6.0 million for 2020, inclusive of a $1.1 million non-cash, pre-tax loss resulting from the revaluation of the warrant liability, compared with a net loss of $7.4 million for 2019. Net loss per basic and diluted share of common stock was $1.83 for 2020, compared with a net loss per basic and diluted share of common stock of $2.99 for 2019.

On December 22, 2020, all warrant holders agreed to a modification of certain of the terms of their warrants that qualified the warrants for equity accounting. At that time, the liability relating to the remaining 467,306 warrants was fair-valued with the offsetting adjustment recorded in income. The $1.4 million warrant liability was then reclassified into equity and the warrants are no longer subject to re-measurement at each balance sheet date. As a result, beginning with the first quarter of 2021, the Company’s Statement of Operations will no longer include fair value adjustments for the warrants and the Company’s net income will not be subject to volatility resulting from those adjustments.

Adjusted EBITDA, as defined under “Non-GAAP Measures” below, was a loss of $3.5 million for 2020, compared with a loss of $5.9 million for 2019.

Cash was $1.8 million as of December 31, 2020 as compared to $0.4 million as of December 31, 2019. As of December 31, 2020, the Company had total availability, as defined under “Non-GAAP Measures” below, of $3.5 million, which consisted of $1.8 million of cash and $1.7 million of additional borrowing availability under its credit facilities. This compares to total availability of $1.9 million as of December 31, 2019.

Fourth Quarter 2020 Financial Results:

Net sales were $3.7 million for the fourth quarter of 2020, up 6.1% compared with $3.5 million in the fourth quarter of 2019. Net sales from commercial products were $1.1 million, or 30.8% of total net sales, for the fourth quarter of 2020, down from $2.0 million, or 57.5% of total net sales, in the fourth quarter of 2019. The decrease was mainly due to fluctuations in the timing, pace, and size of commercial projects, including impacts of the COVID-19 pandemic. Net sales from MMM products were $2.6 million, or 69.2% of total net sales, for the fourth quarter of 2020, up from $1.5 million, or 42.5% of total net sales, in the fourth quarter of 2019. MMM sales were lower in the fourth quarter of 2019 primarily due to two of our products that were pending evaluation by the Defense Logistics Agency, during which time the U.S. Navy was not allowed to purchase these two products and also due to federal government funding restrictions. Sales were also higher in the fourth quarter of 2020, as compared to fourth quarter 2019, due to a large order from a U.S. shipbuilder that drove a significant part of the MMM business. Sequentially, net sales were down 37.2% compared to $6.0 million in the third quarter of 2020, reflecting a shift in the timing of the shipment of a portion of a $3.4 million U.S. Navy order for the Company’s new generation of military Intellitubes. The shipment, which was originally expected to contribute approximately $1.7 million to the Company’s revenues during the second quarter, was shifted into the third quarter. Additionally, the decrease in sales from third quarter 2020 related to the negative impacts on the commercial business from the COVID-19 pandemic.

Gross profit was $1.4 million, or 38.3% of net sales, for the fourth quarter of 2020, compared with gross profit of $1.0 million, or 27.1% of net sales, in the fourth quarter of 2019. Sequentially, this compares with a gross profit of $1.4 million, or 23.1% of net sales, in the third quarter of 2020. The year-over-year improvement in gross profit margin was primarily driven by sales product mix, the margin impact from increased MMM product sales, favorable price and usage variances for material and labor of $0.2 million, or 5.6% of net sales, and favorable inventory reserve adjustments of $0.4 million, or 10.5% of net sales, in 2020. Adjusted gross margin, as defined under “Non-GAAP Measures” below, was 27.7% for the fourth quarter of 2020, compared to 28.5% in the fourth quarter of 2019 and compared sequentially to 24.6% in the third quarter of 2020.

Operating loss was $0.9 million for the fourth quarter of 2020, compared with an operating loss of $1.2 million in the fourth quarter of 2019. Sequentially, this compares to an operating loss of $1.0 million in the third quarter of 2020. The year-over-year improvement was primarily attributable to reduced sales commissions, partially offset by the SG&A impact of increased headcount and salaries.

Net income was $0.1 million, inclusive of a $1.2 million non-cash, pre-tax gain resulting from the revaluation of warrant liability, compared with a net loss of $1.3 million in the fourth quarter of 2019. Sequentially, this compares to a net loss of $1.2 million, in the third quarter of 2020, inclusive of a $0.2 million non-cash, pre-tax gain resulting from the revaluation of warrant liability.

Net income per basic and diluted share of common stock was $0.01 for the fourth quarter of 2020, compared with a net loss per basic and diluted share of common stock of $0.53 in the fourth quarter of 2019. Sequentially, this compares to a net loss per basic and diluted share of common stock of $0.35 in the third quarter of 2020.

Adjusted EBITDA, as defined under “Non-GAAP Measures” below, was a loss of $0.8 million for the fourth quarter of 2020, compared with a loss of $1.0 million in the fourth quarter of 2019 and a loss of $0.9 million in the third quarter of 2020.

PPP Loan Forgiveness

Subsequent to year-end, the Small Business Administration approved the Company’s request for forgiveness of the Company’s Paycheck Protection Program (“PPP”) loan for approximately $0.8 million. The loan was originally issued to the Company in April 2020 pursuant to the PPP under Division A of the Coronavirus Aid, Relief and Economic Security Act. The entire principal balance and interest were forgiven on February 11, 2021. The forgiveness income will be recorded as other income in the Consolidated Statements of Operations during the first quarter of 2021.

Earnings Conference Call

The Company will host a conference call and webcast today, March 25, 2021 at 11:00 a.m. ET to review the 2020 results, followed by a Q&A session. To participate in the call, please dial toll-free 1-877-451-6152 or international 1-201-389-0879, and referencing the conference ID# 13717301.

The conference call will be simultaneously webcast. To listen to the webcast, log on to it at: http://public.viavid.com/index.php?id=143849. The webcast will be available at this link through April 1, 2021. Financial information presented on the call, including the earnings press release, will be available on the investors section of Energy Focus’ website at investors.energyfocus.com.

About Energy Focus

Energy Focus is an industry-leading innovator of sustainable LED lighting and lighting control technologies and solutions. As the creator of the first flicker-free LED lamps, Energy Focus develops high quality LED lighting products that provide extensive energy and maintenance savings, as well as aesthetics, safety, health and sustainability benefits over conventional lighting. Our EnFocus^TM lighting control platform enables existing and new buildings to provide quality, convenient and affordable, dimmable and color-tunable, circadian and human-centric lighting capabilities. Our patent-pending UVCD technologies and products, announced in October 2020, aim to provide effective, reliable and affordable UVCD solutions for buildings, facilities and homes. Energy Focus’ customers include U.S. and foreign navies, U.S. federal, state and local governments, healthcare and educational institutions, as well as Fortune 500 companies. Since 2007, Energy Focus has installed approximately 900,000 lighting products across the U.S. Navy fleet, including tubular LEDs, waterline security lights, explosion-proof globes and berth lights, saving more than 5,000,000 gallons of fuel and 300,000 man-hours in lighting maintenance annually. Energy Focus is headquartered in Solon, Ohio. For more information, visit our website at www.energyfocus.com.

Forward-Looking Statements:

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “feels,” “seeks,” “forecasts,” “projects,” “intends,” “plans,” “may,” “will,” “should,” “could” or “would” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth, strategies, capital expenditures, and the industry in which we operate. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Although we base these forward-looking statements on assumptions that we believe are reasonable when made in light of the information currently available to us, we caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and industry developments may differ materially from statements made in or suggested by the forward-looking statements contained in this release. We believe that important factors that could cause our actual results to differ materially from forward-looking statements include, but are not limited to: (i) disruptions and a slowing in the U.S. and global economy and business interruptions experienced by us, our customers and our suppliers as a result of the COVID-19 pandemic and related stay-at-home orders, quarantine policies, school attendance restrictions and restrictions on travel, trade and business operations; (ii) our ability to realize the expected novelty, disinfection effectiveness, affordability and estimated delivery timing of our UVCD products and their performance and cost compared to other products; (iii) our ability to extend our product portfolio into commercial services and consumer products; (iv) market acceptance of our LED lighting, control and UVCD technologies and products; (v) our need for additional financing in the near term to continue our operations; (vi) our ability to refinance or extend maturing debt on acceptable terms or at all; (vii) our ability to continue as a going concern for a reasonable period of time; (viii) our ability to implement plans to increase sales and control expenses; (ix) our reliance on a limited number of customers for a significant portion of our revenue, and our ability to maintain or grow such sales levels; (x) our ability to add new customers to reduce customer concentration; (xi) our reliance on a limited number of third-party suppliers and research and development partners, our ability to manage third-party product development and obtain critical components and finished products from such suppliers on acceptable terms and of acceptable quality, and the impact of our fluctuating demand on the stability of such suppliers; (xii) our ability to timely and efficiently transport products from our third-party suppliers to our facility by ocean marine channels; (xiii) our ability to increase demand in our targeted markets and to manage sales cycles that are difficult to predict and may span several quarters; (xiv) the timing of large customer orders, significant expenses and fluctuations between demand and capacity as we invest in growth opportunities; (xv) our ability to compete effectively against companies with lower cost structures or greater resources, or more rapid development efforts, and new competitors in our target markets; (xvi) our ability to successfully scale our network of sales representatives, agents, and distributors to match the sales reach of larger, established competitors; (xvii) our ability to attract and retain qualified personnel, and to do so in a timely manner; (xviii) the impact of any type of legal inquiry, claim or dispute; (xix) general economic conditions in the United States and in other markets in which we operate or secure products; (xx) our dependence on military maritime customers and on the levels and timing of government funding available to such customers, as well as the funding resources of our other customers in the public sector and commercial markets; (xxi) business interruptions resulting from geopolitical actions, including war and terrorism, natural disasters, including earthquakes, typhoons, floods and fires, or from health epidemics or pandemics or other contagious outbreaks; (xxii) our ability to respond to new lighting technologies and market trends, and fulfill our warranty obligations with safe and reliable products; (xxiii) any delays we may encounter in making new products available or fulfilling customer specifications; (xxiv) any flaws or defects in our products or in the manner in which they are used or installed; (xxv) our ability to protect our intellectual property rights and other confidential information, and manage infringement claims by others; (xxvi) our compliance with government contracting laws and regulations, through both direct and indirect sale channels, as well as other laws, such as those relating to the environment and health and safety; (xxvii) risks inherent in international markets, such as economic and political uncertainty, changing regulatory and tax requirements and currency fluctuations, including tariffs and other potential barriers to international trade; (xxviii) our ability to maintain effective internal controls and otherwise comply with our obligations as a public company; and (xxix) our ability to maintain compliance with the continued listing standards of The Nasdaq Stock Market. For additional factors that could cause our actual results to differ materially from the forward-looking statements, please refer to our most recent annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission.

Investor Contact:
Brett Maas
(646) 536-7331

DUBLIN--(BUSINESS WIRE)--The "United Arab Emirates (UAE) Projects, H1 2021 - Outlook of Major Projects Spanning Construction, Oil and Gas, Renewable Energy, Transport, Power and Water, Industrial Sectors - MEED Insights" report has been added to ResearchAndMarkets.com's offering.

"UAE Projects H1 2021" focuses on data, it is aimed at helping companies create strategies for targeting and growing the market. It uses almost exclusively data from MEED Projects, the region's leading online projects tracking service. With 15,000 active projects tracked and more than 35,000 in total in the database, MEED Projects makes it possible to quantify current, historical and future trends in the projects market in the region.

Whichever way you look at it 2020 was a very difficult year for the projects market in the UAE. At just under $19bn of contract awards it was more than 40 per cent down on the 2019 figure, This represented the worst year in nearly two decades as the twin blows of Covid-19 and lower prices hit hard.

The pandemic's impact was particularly clear given the sharp fall in spending in the latter half of the year after the coronavirus had fully taken hold. Nonetheless, the market was already in decline. After years of falling real estate prices, construction activity had been decreasing over the previous three years and would no doubt have reached a crunch point with or without Covid-19.

This year should be a lot more promising as life gradually returns to normal. Spending will be spurred by a number of new oil and gas projects in Abu Dhabi led by the multi-billion-dollar Hail & Ghasha sour gas programme. However, construction sector expenditure is expected to remain muted in 2021 and even beyond until demand begins to pick up and oversupply dwindles.

In this challenging environment firms will have to be smart in order to prosper. Selecting the right clients, specialising in niche sectors, and introducing novel technologies are all tools companies can harness in order to stay ahead of the competition.

Likewise, the pipeline of projects in the UAE sits at more than $670bn. Although there are undoubtably challenges in the short term, the long term prognosis is still relatively healthy. Regardless of what happens, the UAE market will remain one of the largest projects markets in the region.

Reasons to Buy

• Opportunities and challenges in the UAE's projects market
• Analysis of the pipeline of planned projects and contract awards
• Key policies and drivers shaping the outlook for projects in the UAE
• Political and economic background
• The barriers and challenges that may arise
• Sector-by-sector breakdown of future project plans
• Key drivers of projects in each sector
• The UAE's most valuable key projects and major project sponsors

Key Topics Covered:

• Executive Summary
• UAE Country Overview
• UAE Projects Market
• Oil and Gas
• Construction
• Transport
• Industrial
• Power and Water

For more information about this report visit https://www.researchandmarkets.com/r/5zfhhn

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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For GMT Office Hours Call +353-1-416-8900

Volvo Penta and TICO are taking the first step in their ambitions to introduce an emission-free, electric terminal tractor.

This partnership and project represent another milestone in Volvo Penta’s electromobility journey and aligns with its wider sustainability ambitions.

GOTHENBURG, Sweden--(BUSINESS WIRE)--#EV--In line with Volvo Penta’s wider sustainability ambitions, the company has taken another step in its emobility journey together with TICO, a North American pioneer in fleet services, terminal services, and terminal tractor manufacturing. The two companies have announced a joint effort in the development of emissions-free, fully-electric terminal truck prototypes. Terminal tractors – used in ports, distribution centers, and rail terminals – represent a viable future application for EVs.

“Volvo Penta's vision is to be a leader in sustainable power solutions and we are working closely with our customers to transform the industry and drive the research and development of sustainable technology. It’s an exciting journey ahead together with TICO,” says Heléne Mellquist, CEO and President of Volvo Penta.

Proven electric vehicles powertrain

TICO sought to team up with a trusted and technologically advanced electric powertrain solutions provider. One that would not only take a full system approach when providing a reliable electric driveline but also offer deep technical expertise throughout the entire design and development stages.

“TICO has always been at the forefront of bringing alternative powertrain solutions to the market,” says Frank Tubbert, General Manager, TICO. “We recognized the need for an EV application and wanted a partner who could deliver electric power solutions, characterized by proven technology and backed by a trusted brand and superior support. We found all this and more in Volvo Penta.”

As part of the Volvo Group, Volvo Penta has a unique position in helping its customers within the area of electromobility. Its electric driveline draws on tested and proven technology from Volvo Group. Volvo Penta is already working with OEM Rosenbauer, in the development of an electric fire truck. This electric fire truck is being put to use in real-life call-outs in Berlin and is scheduled for market introduction later this year.

“We respect Volvo Group’s global brand and more importantly so do our customers,” says Tubbert. “We work with many of the largest fleets in the US that already use the Volvo Group powertrain. We know that this first-class company will remain at the edge of key technology for the future; including in areas such as the battery.”

A transformational partnership

In addition to its manufacturing operations, TICO also manages a fleet of more than 1,500 terminal tractors, creating a unique business model as both an OEM and an operator.

“Working closely with customers is a cornerstone of our approach to bringing new solutions to market,” explains Martin Bjuve, President of Volvo Penta of the Americas. “It’s a truly transformational partnership, where TICO gives us an inherent understanding of the specific needs and challenges of fleet operators to ensure we’re developing a viable electric solution for the long-run”

TICO has experienced strong growth over the past few years and continues to diversify its powertrain portfolio. Together the two companies will start building the first prototypes and begin testing this year. Additionally, TICO is also partnering with Volvo Penta to offer an alternative diesel powertrain within its existing line-up.

###

Volvo Penta, with approximately 3,500 dealers in over 130 countries, is a world-leading and global manufacturer of engines and complete power systems for boats, vessels and industrial applications. The engine program comprises diesel and gasoline engines with power outputs of between 10 and 1000 hp. Volvo Penta is part of the Volvo Group, one of the world’s leading manufacturers of heavy trucks, buses and construction equipment.

Ann Parmar
PR & Communication Industrial
AB Volvo Penta
Tel: int +46 (0) 31 32 207 69
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Christine Carlson McKone
Marketing Communications Manager
Volvo Penta of the Americas
Tel: +1-757-272-6054
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

ABU DHABI--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, today announced the Exchange Members and Clearing Members approved to directly trade and clear ICE Futures Abu Dhabi (“IFAD”) markets, ICE’s new exchange in Abu Dhabi.

ICE plans to launch IFAD and trading in ICE Murban Crude Oil Futures alongside 18 related cash settled derivatives and inter-commodity spreads, on March 29, 2021. Contracts traded on IFAD will be cleared at ICE Clear Europe, ICE’s leading energy clearing house.

The 24 approved Exchange Members, of which 18 are approved Clearing Members, are listed in full on IFAD’s Membership page here. This includes:

• ABN AMRO Clearing Bank N.V. and ABN AMRO Clearing Chicago LLC
• Advantage Futures LLC
• ADM Investor Services Inc. and ADM Investor Services International Limited
• Banco Santander SA
• BNP Paribas SA
• Citibank Global Markets Limited
• Goldman Sachs & Co LLC and Goldman Sachs International
• G.H. Financials Ltd
• Marex Financial Ltd
• Mizuho Securities USA LLC
• Phillip Capital Inc.
• R.J. O’Brien & Associates
• Societe Generale

“As part of our ongoing commitment to the Middle East, our clients around the world, and our mission to offer access and liquidity to energy markets globally, we are delighted to be working with IFAD at the historic launch of a new futures exchange in Abu Dhabi,” said Joseph Nehorai, Goldman Sachs’ co-head of Global Futures and Options.

“We, along with our clients, are excited for the extraordinary opportunity that the launch of Murban futures presents,” said John Murphy, Global Head of Futures at Mizuho Americas. “This moment signifies a tremendous progression for the oil markets, and we are ready and eager to clear IFAD products.”

“This launch marks an exciting opportunity for the energy markets as customers have communicated their strong interest to trade Murban futures and the related contracts, and consequently we greatly look forward to clearing IFAD products and providing our expertise from the outset,” said Franck Borgel, Global Head of Commodities Agency at Societe Generale.

“With the addition of clearing Murban Crude Oil products on ICE Futures Abu Dhabi, we show commitment and keep investing for our clients. Murban Crude Oil Futures will provide users with an effective hedging instrument for Arab Gulf crude oil and other grades trading into the Asia Pacific Region. ABN AMRO Clearing is excited to be able to support its clients, who showed strong interest. Bringing OTC contracts on exchange makes these better accessible; this fits with our purpose to lead the way to safe and transparent markets.” said James Egan, Chief Commercial Officer Europe at ABN AMRO Clearing Bank.

“Marex is delighted to join ICE Futures Abu Dhabi as a General Clearing Member. Our clients have expressed a strong interest in the Murban Futures and Marex is excited to support them in trading on the IFAD exchange,” said Thomas Texier, Head of Clearing at Marex.

“RJO is excited to be a General Participant Member for the launch of ICE Futures Abu Dhabi. Access to ICE’s global product line is crucial to the growth and success of RJO’s commercial energy clients,” said Gerald Corcoran, Chairman and CEO of R.J. O’Brien & Associates.

“Advantage is excited to be a Clearing Member for the launch of ICE Futures Abu Dhabi. We believe ICE’s newest exchange offers an excellent trading opportunity for our global client base,” said Joe Guinan, CEO of Advantage Futures.

Clearing members will stand behind all trades made through IFAD and cleared by ICE Clear Europe, whether it is for the account of a customer, member, or their own account. ICE is launching IFAD with the Abu Dhabi National Oil Company (ADNOC) and nine of the world’s largest energy traders including BP, ENEOS, GS Caltex, INPEX, PetroChina, PTT, Shell, TOTSA (Total) and Vitol.

Murban futures will be open for trading for 22 hours a day, five days a week, with investors from jurisdictions including Abu Dhabi Global Market, the United States, Singapore, Switzerland, the Netherlands, France, Norway, Australia, Japan and South Korea, as well as by and through FCA-regulated entities in the UK, able to trade on IFAD.

For more information on how to clear or trade IFAD markets please contact: This email address is being protected from spambots. You need JavaScript enabled to view it..

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company and provider of marketplace infrastructure, data services and technology solutions to a broad range of customers including financial institutions, corporations and government entities. We operate regulated marketplaces, including the New York Stock Exchange, for the listing, trading and clearing of a broad array of derivatives contracts and financial securities across major asset classes. Our comprehensive data services offering supports the trading, investment, risk management and connectivity needs of customers around the world and across asset classes. As a leading technology provider for the U.S. residential mortgage industry, ICE Mortgage Technology provides the technology and infrastructure to transform and digitize U.S. residential mortgages, from application and loan origination through to final settlement.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.

ICE- CORP

Source: Intercontinental Exchange

ICE Media Contact:
Rebecca Mitchell
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ICE Investor Contact:
Warren Gardiner
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770-835-0114

MELBOURNE, Australia--(BUSINESS WIRE)--Hansen Technologies (ASX:HSN) is pleased to announce today that it has signed a new agreement with Massachusetts-based Hampshire Power Corporation.

Under the terms of this agreement, Hansen will provide the Hansen CIS software platform and managed services to support Hampshire Power’s retail energy and community solar business lines, initially covering Massachusetts, Maine, New York and Rhode Island. At a time when Commercial and Industrial (C&I) business owners face a rising level of complexity in a fragmented energy sector, Hampshire Power, a vertically integrated retail electricity provider, aims to simplify the value proposition, and to maximize and monetize energy systems for renewable energy asset owners. Hampshire Power provides a fully integrated and managed Energy-as-a-Service solution that leverages revenue and savings into a single financial statement and energy experience for the C&I customer.

Todd Ford, President and CEO, Hampshire Power, commented: “With their unique expertise in the North American retail and community solar power market, we at Hampshire Power are confident that Hansen Technologies is well-placed to enable the integrated Energy-as-a-Service offering that we envision for our customers. We look forward to the support of invaluable partners such as Hansen, as we look to chart even more expansion in the United States in the years to come.”

John May, CEO Americas, Hansen Technologies, commented: “At a time of industry-wide change and complexity, the integrated Energy-as-a-Service solution from Hampshire Power will serve to function as a major market differentiator. We could not be more pleased to support them in their journey to unlock value for their customers in the C&I segment. With the proven capabilities afforded by Hansen CIS, we have no doubt that they will.”

Hansen CIS is a purpose-built customer information software solution for the energy and utilities sector, including emerging community solar operators. The software is designed to handle every aspect of the customer life cycle using open architecture, an understanding of local regulations and technology standards to speed integration with business and operational systems. Hansen CIS architecture is based on standardized technology enhanced by a modular approach and an open-API library. The product is offered in various global markets and caters to energy and utilities companies operating in competitive and regulated markets.

For further information about Hansen Technologies, please visit www.hansencx.com.

About Hansen Technologies

Hansen Technologies (ASX: HSN) is a leading global provider of software and services to the energy, water and communications industries. With its award-winning software portfolio, Hansen serves 550+ customers in over 80 countries, helping them to create, sell, and deliver new products and services, manage and analyze customer data, and control critical revenue management and customer support processes.

For more information, visit www.hansencx.com

About Hampshire Power Corporation

Hampshire Power (“Hampshire”) is an innovative and integrated Energy-as-a-Service solutions provider creating savings and income for commercial and industrial businesses. Using our revenue + lease model, coupled with advanced, analytic-focused energy optimization, and a curated marketplace of best-in-class products and services, we are able to provide solutions that simplify and coordinate your energy needs with no upfront costs.

Join Hampshire on LinkedIn and Twitter and/or visit www.hampshirepower.com for more information.

Adnan Bashir
Senior Corporate Communications Manager
Hansen Technologies
+1 647-204-0999

Lack of leadership team support, alternative technology and regulatory certainty found to be the top three obstacles

NEW YORK--(BUSINESS WIRE)--New research from Standard Chartered has revealed that more than half of US-based companies are not transitioning to net-zero fast enough, leaving them in danger of missing the Paris Agreement target of net-zero carbon emissions by 2050.

Zeronomics, a study into the financing of a net-zero world, surveyed the senior leadership of 250 large companies and 100 investment specialists around the world between September and October 2020 and found:

• 53 percent of US-based business leaders believe their companies are not transitioning to net-zero fast enough.

• Many US based companies are looking to delay significant action to after 2030, with the 2020s looking set to be a lost decade. Some 53 percent of business leaders said their companies will make the most progress between 2030 and 2040, while a further 13 percent said they will take most action between 2040 and 2050.

• Most companies are delaying transition because they do not feel they are currently equipped to meet the target. Some 53 percent said they need extensive organisational change before tackling net-zero.

What are the barriers?

• Lack of available alternative technology at a commercially viable cost, and a lack of support from executive leadership are the biggest barriers for US companies to progress. Both reasons were cited as significant obstacles by 70 percent of the respondents, higher than 64 per cent and 60 percent global average rates

• Some 60 per cent of US respondents believe a lack of globally consistent measurement and reporting standards is hampering progress, while a further 60 per cent believe that a lack of regulatory certainty makes it difficult to know what approach to take to net-zero.

• US business leaders also believe that more support for net-zero from their own investors and at board level are hampering net-zero progress.

How to fix it

Zeronomics reveals what US business leaders believe is needed in order to speed up transition.

• 87 percent believe increased operational efficiency or cost savings from sustainable practices would make the transition to net-zero more financially attractive.

• A further 80 percent said increased demand for net-zero operations, products and services from net-zero trading partners could accelerate their transition.

• 77 percent of the respondents also stated that increased shareholder activism and investor scrutiny and pressure could positively contribute to the progress.

Issues facing developed markets contrast those of emerging markets

The research also underlines the different challenges that developed markets, such as the US and Western Europe face compared to the emerging markets. While developed markets are concerned about measurement frameworks (64 per cent), emerging markets are struggling to find the capital needed to finance transition (73 per cent).

“Reaching net-zero carbon emissions by 2050 will require effort from every organization across every sector,” said Jeremy Amias, Vice Chair, Standard Chartered Americas. “Our survey has shown that US based companies have greater confidence than emerging market companies in accessing capital and can potentially lead the way in transitioning to a net-zero global economy once consensus around benchmarks is established and as the cost of technology decreases.”

Standard Chartered

We are a leading international banking group, with a presence in 59 of the world’s most dynamic markets and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Our history in the US dates back to 1902, and we are currently present in eight locations throughout the Americas. Our Americas franchise focuses on financial institutions and select corporates and plays a key role in facilitating trade and investment flows between the Americas and Asia, Africa, and the Middle East.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.

Chris Teo
Standard Chartered
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Sammi He
Standard Chartered
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DUBLIN--(BUSINESS WIRE)--The "Tyre Derived Fuel (TDF) Market - Global Industry Analysis (2017 - 2020), Growth Trends and Market Forecast (2021 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The global tyre-derived fuel (TDF) market is expected to reach a valuation of US$430.3 Mn by the end of 2025.

The amount of waste generated is directly proportional to the development of a country. The monumental improvement of economic conditions in developing countries has therefore resulted in the generation of tyre scraps. Needless to say, even developed parts of the world are adding to the piles of tire scraps. Report indicates that a billion tyre scraps generated annually.

Soaring Fuel Prices to Up Usage of Tyre-derived Fuel

Tyre-derived fuel is often used as a supplemental fuel at cement and paper & pulp facilities. In recent years its demand is seen a steady rise as TDF improves boiler efficiency, reduces carbon emissions, and cuts down fuel costs. As end-use industries regain momentum in the post-COVID-19 economy, analysts anticipate that they will stoke the usage of TDF as well. As of 2019, the cement industry held a 50% share in the global tyre-derived fuel market. The publisher predicts the trend will continue as construction activities make a comeback in full swing.

North America and Asia Pacific Stand Out as Players See High Value Proposition

North America is currently an extremely prominent market for tyre derived fuel, primarily owing to the abundant supply of end-of-life tires. The US Tire Manufacturers Association is one of the many bodies working toward maximizing and capitalizing on scrap tire value, while also reducing the debilitating impact of the automotive industry on the environment. This, supported by the rising popularity of electric vehicles, creates a lucrative scenario for TDF facilities and players.

Asia Pacific also serves as a profitable market for tyre derived fuel thanks to the ever-growing presence of leading automobile companies and ongoing expansions of their manufacturing plants in the region. The cement manufacturing industry is perhaps the largest consumer of tyre derived fuel in Asia Pacific, with companies using whole tires as well as TDF as a supplemental fuel in cement kilns. Renelux is one of the major TDF players that caters to the Indian cement market.

In April 2017, the company signed an agreement with The India Cements to source solid fuels. Renelux continues to strengthen its relationship with India, and in 2019, discussed new opportunities within the domestic cement industry.

Key Players to Expand Capacities to Beat New Players

With the increasing fleet of personal vehicles on roads, the soaring prices of traditional fuel, and growing awareness about the benefits of TDF, the prospects of tyre-derived fuel as a market seem increasingly lucrative and attractive to players. While more and more companies are looking to venture into this market, existing players are focusing on expanding their capacities to compete with the onslaught of new entrants.

For instance, the leading provider of tire recycling services in North America Liberty Tire Recycling acquired California-based Lakin Tire in March 2020 to continue its commitment to sustainability and offer environment-friendly tire recycling services. Prior to this acquisition, Liberty Tire Recycling collected and recycled over 140 million tires each year, which rose to 180 million since partnering with Lakin Tire.

Key Highlights of Global Tyre-derived Fuel Market:

• Tyre-derived fuel holds high potential to bring down the overall fuel cost of cement industry by 50%
• Usage of TDF to allow cement plant operators to trade 'carbon credit certificates' thereby generating new revenue pocket
• Higher calorific value than coal of 25-50% and 100-200% higher than wood and municipal waste makes TDF ideal fuel option for end users
• Demand for TDF to benefit from strict bans imposed on landfilling of scrap tyres in the U.S. and Europe.
• Overflowing Landfills to Push Tyre-derived Market to find Quick Solutions

Companies Mentioned

• Emanuel Tyre, LLC
• L & S Tyre Company
• Liberty Tyre Recycling
• Ragn-Sells Group
• Reliable Tyre Disposal
• Renelux Group
• ResourceCo Pty Ltd.
• Scandinavian Enviro Systems AB

For more information about this report visit https://www.researchandmarkets.com/r/a43bwj

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Redwood Materials makes a significant strategic investment in ERI; JB Straubel will join ERI’s Board

FRESNO, Calif. & CARSON CITY, Nev.--(BUSINESS WIRE)--#ERI--ERI, the nation’s largest fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company, and Redwood Materials, a company inventing sustainable materials by creating circular supply chains, turning waste into profit and developing the solution for a fully closed-loop recycling for lithium-ion batteries, announced today that they have entered into an exclusive partnership for battery recycling.

As part of the partnership, Redwood Materials has made a significant strategic investment in ERI. JB Straubel, co-founder and CEO of Redwood Materials (and previously Chief Technology Officer and co-founder of Tesla), has been elected to ERI’s board of directors.

Additionally, the partnership marks the launch of Redwood and ERI’s new business line to recycle solar panels. ERI will now team with Redwood Materials for the responsible recycling of solar panels.

“ERI and Redwood Materials working together signals a unique, unprecedented partnership that will tackle the ‘last mile’ of electronic recycling: solar panels and batteries,” said John Shegerian, ERI’s Co-Founder and Executive Chairman. “And it will be done in a radically transparent, end-to-end closed-loop manner where elements – from cobalt, nickel, copper, lithium – will be kept out of landfills, responsibly recycled, and put back into new products. We are incredibly excited to be entering into this strategic partnership with Redwood Materials.”

“Redwood is focused on steadily and relentlessly improving recycling economics with technology to reduce the cost of materials and create a circular supply chain to power a sustainable future,” said JB Straubel, Redwood Materials Co-Founder and CEO. “By partnering with ERI, we’ll be able to ensure the largest supply of e-waste batteries in the US is recycled into materials to build new EVs and clean energy products.”

“For ERI, as always, radical transparency is key,” added Shegerian. “The strategic partners with whom we work to achieve Circular Economy goals are not only our downstream partners, they are investors in our company and sit on our board. This is a paradigm that is unparalleled in the recycling industry throughout the world.”

About Redwood Materials:

Redwood Materials is inventing sustainable materials to build the world by creating circular supply chains, turning waste into profit and solving the environmental impacts of new products before they happen. Based in Northern Nevada, Redwood was founded by JB Straubel in 2017.

About ERI:

ERI is the largest fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company in the United States. ERI is certified at the highest level by all leading environmental and data security oversight organizations to de-manufacture, recycle, and refurbish every type of electronic device in an environmentally responsible manner. ERI has the capacity to process more than a billion pounds of electronic waste annually at its eight certified locations, serving every zip code in the United States. ERI’s mission is to protect people, the planet and privacy. For more information about e-waste recycling and ERI, call 1-800-ERI-DIRECT or visit https://eridirect.com.

ERI: Paul Williams, 310/569-0023, This email address is being protected from spambots. You need JavaScript enabled to view it.

Redwood Materials: Alexis Georgeson, This email address is being protected from spambots. You need JavaScript enabled to view it.

SAN JOSE, Calif.--(BUSINESS WIRE)--QuantumScape Corporation (NYSE: QS), today announced the pricing of an underwritten public offering of 10,400,000 shares of its Class A common stock (the “Shares”) for gross proceeds of $416.0 million. QuantumScape has granted the underwriters a 30-day option to purchase up to an additional 1,560,000 Shares at the public offering price less the underwriting discount. No shareholders are selling in this offering. The offering is expected to close on March 29, 2021, subject to customary closing conditions.

Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint lead book-running managers for the Offering. Deutsche Bank Securities is acting as an additional book-running manager.

A registration statement relating to the securities sold in this offering was declared effective by the Securities and Exchange Commission on March 25, 2021. Copies of the final prospectus relating to this offering may be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by phone at (866) 471‐2526, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About QuantumScape Corporation

QuantumScape is a leader in the development of next generation solid-state lithium-metal batteries for use in electric vehicles. The company's mission is to revolutionize energy storage to enable a sustainable future.

For Investors
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Employees from BGE, ComEd, PECO, PHI and Exelon Generation collaborated on projects that will contribute to a safer and more reliable clean energy future

CHICAGO--(BUSINESS WIRE)--Three project teams led by Exelon engineers and innovators have been selected to receive the Electric Power Research Institute’s (EPRI) 2020 Technology Transfer Awards, underscoring Exelon’s commitment to powering a cleaner and brighter future for customers and communities.

The annual EPRI Technology Transfer Awards spotlight the value of collaborative research to the electricity sector and recognize the leaders and innovators who have applied EPRI research to produce significant results for customers. This year, Exelon teams won three of 19 awards in the Power Delivery and Utilization sector – a significant achievement. Exelon award winners are being honored for their leadership and innovation on collaborative research and technology projects.

“More than 50 Exelon employees collaborated across three teams to win these prestigious awards,” said Joe Svachula, vice-president, strategy for Exelon Utilities and an EPRI Sector Council representative. “The hard work, commitment, and leadership demonstrated by these award winners will make electricity more reliable, efficient, affordable, safe, and environmentally responsible for our customers and communities.”

The Exelon award winners, who were honored at a virtual celebration last week, have shown exceptional application of research and technology in solving a problem of size and significance, championing a technology both within their companies and across the industry, driving progress in the electricity sector, and providing meaningful benefits for their companies’ stakeholders and for society, EPRI said.

“These awards show firsthand that Exelon is a leader in the electric power industry as we move towards a clean energy future,” said Rob Chapman, Senior Vice President of Energy Delivery and Customer Solutions at EPRI. “Our relationship is a true collaborative effort with both sides contributing to the success of the other.”

This year, the Power Delivery and Utilization sector received more than 100 nominations, of which 19 were recognized with awards.

Exelon’s winners and awards are:

• Installation of Avian Diverters using Unmanned Aircraft Systems (UAS)
  BGE, ComEd, Exelon Generation, PECO and Pepco collaborated on this project, using EPRI research, to assess the ability to install avian line markers using unmanned aerial systems (UAS - drones). Since installation of the markers using drones, there have been no birds striking transmission lines at the test site, and the project is planned for expansion to other locations.

• Navigating Distributed Energy Resources (DER) Criteria – Creating a Technical Interconnection Requirement for Exelon Utilities
  BGE, ComEd, PECO and PHI collaborated to create DER integration criteria as part of the supplemental project: Navigating DER Interconnection Standards and Practices. This helps enable customers to more easily install solar, or other distributed resources, in their homes and businesses.

• Vehicle Grounding and Personal Protection of Distribution System Mobile Equipment Practices
  BGE, ComEd, PECO and PHI collaborated on this project, to devise safe grounding practices for mobile equipment. Using an industry best practice, these grounding practices protect utility employees – and the public – from unsafe outcomes related to accidental contact with transmission lines.

Learn more about the EPRI awards and projects here.

About Exelon

Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.

Tanika Davis
Exelon Utilities Communications
410-470-5224
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Providing Increased Capability to Meet Clean Energy Goals for Transition of the Gas Network Nationwide

VANCOUVER, British Columbia--(BUSINESS WIRE)--EverGen, Canada’s Renewable Natural Gas (RNG) Infrastructure Platform, announces that it has completed raising an additional $17 million to address a significant gap in renewable infrastructure across Canada, specifically focused on acquiring and building RNG & sustainable waste to energy projects. EverGen has raised $8 million in equity capital (via a special warrants offering) and secured a senior debt facility of $9 million to pursue this strategy. This follows EverGen’s previous financing and major project acquisitions of Sea to Sky Soils in Pemberton, BC and Net Zero Waste Abbotsford Inc. that were completed in December 2020.

“There is a dire need for a Canadian-based platform focused on building, owning and operating renewable natural gas infrastructure to support the clean energy goals and demand of FortisBC and other utilities across Canada,” explains EverGen Co-Founder and CEO Chase Edgelow. “Starting in BC, but with plans for further expansion, EverGen has the leadership and capability to 'infra-tize' Canada’s fragmented renewable natural gas industry, meaning we apply a disciplined and practical approach to developing the necessary infrastructure to ensure long term sustainable returns for our investors, our communities and our stakeholders.”

About EverGen’s Projects

Sea-to-Sky-Soils Facility

Sea to Sky Soils, located near Pemberton, British Columbia, is a composting and organic processing facility with existing municipal and commercial partnerships throughout the Sea to Sky corridor and Lower Mainland. The facility accepts organic waste (diverted from the landfill via green bin programs) and recycles it using proven composting technology into soil amendments and Class A compost for use by local farms and developers as part of the circular economy. Sea to Sky Soils is proud to be in partnership with the Lil'wat Nation and committed to the Lil'wat community, having operated on Lil’wat Nation land since 2012. In addition, Sea to Sky Soils has employed a majority of staff from the First Nation since inception and supports social, cultural and recreation programs in Mount Currie.

Net Zero Waste Abbotsford Facility

Net Zero Waste Abbotsford, is a composting and organic processing facility located in Abbotsford, British Columbia, with existing municipal and commercial partnerships throughout the Lower Mainland. The facility accepts municipal organic/green bin waste (diverted from the landfill via green bin programs) and recycles it using proven composting technology into soil amendments and Class A compost for use by local farms and developers as part of the circular economy.

Sustainable RNG Infrastructure Projects

EverGen’s projects involve the construction of infrastructure to capture and clean biogas (which may come from a variety of feedstock sources including organic waste, agricultural waste and wastewater) using proven technology to create sustainable or renewable natural gas as a clean energy source for our future.

For more information about EverGen Infrastructure Corp., visit www.evergeninfra.com.

About EverGen Infrastructure Corp.

EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future, starting on the West Coast. Incorporated in 2020, EverGen is now established to acquire, develop, build, own and operate a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on British Columbia with continued growth expected across other regions in North America.

For more information about EverGen Infrastructure Corp. and our projects please, visit https://www.evergeninfra.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements.

For inquiries, please contact:
EverGen Media Contact
Alison Gallagher
778-837-5623
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AUSTIN, Texas--(BUSINESS WIRE)--GreenTech startup FuelGems announced the completion of a successful funding round that raised a total of $928,690. The fundraising was carried out through Wefunder, with primary investment from Austin-based venture capital fund and startup accelerator Sputnik ATX.

FuelGems’ revolutionary fuel additive uses nanoparticles to transform the operation of diesel and gasoline-powered engines. With the FuelGems additive, carbon emissions drop by 9%, poisonous carbon monoxide emissions by 15%, and the release of unburnt hydrocarbons and other dangerous particulate matter falls by up to 50%. Fuel efficiency also rises by up to 9%.

FuelGems’ additive is cost-effective, adding just 2 cents onto the cost of a gallon of gasoline, and requires only a microdose of 1-5 grams for 260 gallons of fuel. The company forecasts $400+ million revenue by year 6 of operations, thanks to widespread public concern about the impact of vehicle fumes on climate change and public health.

The strength of FuelGems’ solution is underscored by the amount of interest and traction the startup is already seeing from multi-billion-dollar oil and gas corporations like BP British Petroleum, Suncor, and Marubeni, as well as from the Australian Department of Defense.

Sputnik invested $50,000 in FuelGems before the Wefunder got underway, and then added another $35,000 during the course of the Wefunder, bringing their total investment to $85,000. The partners at Sputnik unanimously agreed to support FuelGems after evaluating the company’s unique value proposition. They are in a unique position to assess FuelGems’ technology and capabilities, thanks to Dr. Oksana Malysheva, managing partner at Sputnik, who has a PhD in physics. It was Dr. Malysheva who evaluated FuelGems’ technical abilities, and she was convinced by the scientific efficacy of the FuelGems solution.

Volodymyr Khmurych, an angel investor and COO of UFuture, made a personal investment in FuelGems by taking a lead investor role in the Wefunder campaign. He said, “Their team and product will change the world when it comes to using gasoline and diesel. FuelGems will save lives…What I love even more is the fact that such a small amount of nanoparticles is needed to treat fuel. This lets them price multiple times cheaper than other fuel additives and win a huge market share very quickly…I believe the company has incredible growth ahead and I am very excited to get in with FuelGems at an early stage and to be the lead investor in this deal.” Additional angel investors in FuelGems have backgrounds from Shell, Tesla, Battery Ventures and Sierra Ventures.

Serial entrepreneur and investor Jeff Sudman adds,“I am strongly passionate about investing my capital into startups that have a potential massive impact on our planet and people. I have a very strict criteria that I look for, few things to mention such as a dedicated and talented team with proven track record, unique and protected IP, extensive testing of this IP, ability to have a massive impact to that industry, and vision to the investor to see an actual future return. The remaining 50% of my decision falls upon how big the impact will be on our planet and people. I feel that FuelGems has hit all of my requirements and more.”

About the founder:

Kirill Gichunts, CEO of FuelGems, is a seasoned entrepreneur and investor who has invested in and supported over 15 startups and has achieved one previous exit as a venture capitalist and one previous exit as a member of a founding management team. He discovered the value of clean technology during his studies at UC Berkeley.

Kirill Gichunts
1-415-251-0250
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