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Eco-Forward Blockchain Companies To Support CCA Through Implementation of Carbon-Neutral Initiatives and CCA Green Hash Rate Working Group

OTTAWA, Ontario--(BUSINESS WIRE)--Argo Blockchain Plc (LSE: ARB) (OTCQX US: ARBKF), a UK-based global cryptocurrency mining company, and DMG Blockchain Solutions Inc. (OTCQB US: DMGGF), a vertically integrated blockchain and cryptocurrency technology company, today announced their partnership with the Crypto Climate Accord (CCA) to promote the decarbonization of the cryptocurrency industry. Alongside the CCA, Argo and DMG are developing a new working group to more clearly outline the accord’s objectives while deploying new technologies that increase the transparency of the renewable energy sourcing of crypto mining.

Argo and DMG, both industry leaders in the development of clean mining, have worked with the CCA to ensure the accord's objectives promote meaningful impact in reducing overall emissions for the crypto industry. The companies worked to align their goals and objectives with the CCA while enhancing current protocols, demonstrating a commitment to environmental stewardship.

Bitcoin miners around the world currently account for up to an estimated 0.5% of global power usage. There is a crucial opportunity to decarbonize that growing power usage. In April of this year, founding members of the Crypto Climate Accord, a private sector-led initiative, committed to powering the cryptocurrency industry with 100% renewable energy.

“The Crypto Climate Accord helps lay the groundwork for real, tangible action to address Bitcoin mining’s impact on the environment and we are both eager and determined to ensure that Supporters and Signatories remain committed to the group’s goals,” said Peter Wall, CEO of Argo Blockchain.

“Since our inception, DMG has been committed to transparency and good governance,” said Sheldon Bennett, CEO of DMG Blockchain Solutions. “Partnering with the Crypto Climate Accord alongside Argo allows us to apply those values to put us on a path to become a more sustainable industry. Together, we can put the wheels in motion to transition the cryptocurrency industry into one that focuses on renewable energy.”

In an effort to decarbonize the global crypto industry by prioritizing climate stewardship and creating the opportunity for the entire crypto industry’s transition to net-zero greenhouse gas emissions by 2040, the CCA has outlined the following objectives:

  • Achieve net-zero emissions from electricity consumption for CCA Signatories by 2030.
  • Develop standards, tools, and technologies with CCA Supporters to accelerate the adoption of and verification of progress toward 100% renewably-powered blockchains by the 2025 UNFCCC COP30 conference.

“We are ready to roll up our sleeves and begin developing new solutions in support of the CCA,” said Jesse Morris, Chief Commercial Officer at Energy Web. “Based on early industry feedback about the CCA, we know that this green hash rate solution is critical to help individual mining facilities prove their use of renewables and the industry as a whole to set an example for other industries to follow. We look forward to working closely with Argo Blockchain, DMG, and other CCA Supporters to develop this solution and introduce it to the market as quickly as possible.”

With Argo Blockchain, DMG, and over 40 organizations on board - including 20 prominent cryptocurrency organizations - the CCA is on a path to achieve the stated objectives through the promotion and use of renewable energy solutions. The CCA invites subject matter experts, and others in the space to sign onto and aid in the implementation of the working group.

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About Argo Blockchain Plc

Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.

For more information on Argo Blockchain visit: www.argoblockchain.com

About DMG Blockchain Solutions Inc.

DMG is an environmentally friendly vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG’s non-polluting data centre operations focus on earning eco-friendly revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients entirely powered by renewable energy. DMG’s data analytics and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s environmentally committed management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry and a strong ecological consciousness.

Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of Bitcoin, and future operational results could also be materially affected by the price of Bitcoin and an increase in hashrate mining difficulty.

For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com

On behalf of the Board of Directors,
Sheldon Bennett, CEO, COO & Director

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

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information based on current expectations. Statements about the Company’s plans for the establishment of this new Pool and related definitive agreements, expectations, benefits and outcomes of this new Pool, the planned DCMNA, plans and goals to increase petahash (PH) by self-mining in 2021 and beyond, price of bitcoin, plans and intentions, other potential transactions, acquisition of customers, product development, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG’s bitcoins; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.

The securities of DMG are considered highly speculative due to the nature of DMG’s business.

Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers or from this new Pool, consumer sentiment towards DMG’s products, services and blockchain technology generally, decrease in the price of Bitcoin and other cryptocurrencies, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, failure of other Bitcoin mining companies to join this new Pool, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by third parties in respect of the matters discussed above.


Contacts

Argo Blockchain plc
North America
Wachsman: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +1-212-835-2511

Europe
Salamander Davoudi
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Tel: +44 7957 549 906

Emma Valgimigli
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +44 7727 180 873

DMG Blockchain Solutions Inc.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Web: www.dmgblockchain.com

For Media Inquiries:
Jules Abraham, Head of Public Relations
CORE
IR
917-885-7378
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Investor Relations Contact:
CORE IR 516-222-2560

EWING, N.J.--(BUSINESS WIRE)--$OLED #DisplayWeek2021--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced its participation in the following virtual investor and industry conferences.


Investor Conferences:

Cowen and Company’s 49th Annual Technology, Media & Telecom Conference
Date:
June 1, 2021
Presentation Time: 1:50 PM ET*
Location: Virtual
Presenter: Sidney Rosenblatt, Executive Vice President and CFO

Evercore ISI’s Inaugural Technology, Media & Telecom Conference
Date:
June 8, 2021
Presentation Time: 8:45 AM ET*
Location: Virtual
Presenter: Sidney Rosenblatt, Executive Vice President and CFO

*A live and archived audio webcast of the investor presentations will be available on the events page of the Company's Investor Relations website at ir.oled.com.

Industry Conferences:

SID Display Week 2021
Date:
May 17-21, 2021
Location: Virtual

Presenter: Dr. Nicholas Thompson, Senior R&D Manager
Presentation: Increasing OLED Stability: Plasmonic PHOLED

Presenter: Dr. Zhiqiang Ji, Senior Research Scientist
Presentation: Highly Efficient Near-Infrared Phosphorescent OLEDs

Presenter: Dr. Mike Hack, Vice President of Business Development
Presentation: High-Color-Gamut OLED Displays with Reduced Power Consumption for Laptop Applications (UDC/Intel joint paper)

International Conference on Display Technology (ICDT) 2021
Date: May 30-June 2, 2021
Location: Virtual/Beijing, China
Presenter: Dr. Nicholas Thompson, Senior R&D Manager
Presentation: Increasing OLED Stability: Plasmonic PHOLED

TechBlick: Innovations & Market Trends In Displays & Lighting
Date: July 14-15, 2021
Location: Virtual
Presenter: Dr. Mike Hack, Vice President of Business Development
Presentation: Phosphorescent OLEDs for Next Generation Products

SPIE Optics + Photonics 2021
Date: August 1-5, 2021
Location: Virtual/San Diego, CA
Presenter: Dr. Nicholas Thompson, Senior R&D Manager
Presentation: Increasing OLED Stability: Plasmonic PHOLED

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

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

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

Follow Universal Display Corporation

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(OLED-C)


Contacts

Universal Display Contact:
Darice Liu
This email address is being protected from spambots. You need JavaScript enabled to view it.
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+1 609-964-5123

NuScale Power and Prodigy Clean Energy agree to work together to advance their technologies as a baseload clean energy solution for coastal locations and island nations

PORTLAND, Ore.--(BUSINESS WIRE)--Today, NuScale Power and Prodigy Clean Energy, a Canadian company that designs and develops marine nuclear plants for safe, affordable and sustainable energy generation, announced a second Memorandum of Understanding (MOU) to support business development opportunities for a marine-deployed nuclear generating station powered by the NuScale Small Modular Reactor (SMR). NuScale Power and Prodigy Clean Energy have been collaborating since 2018, investigating the feasibility of integrating NuScale Power Modules™ (NPMs) into Prodigy’s Marine Power Station and have completed the conceptual design and economic assessment phases.


“NuScale is a world leader in SMR technology and is excited to continue working with Canadian-based Prodigy on exploring deployment possibilities with our NPMs in a marine environment,” said John Hopkins, NuScale Power Chairman and Chief Executive Officer. “Bringing our safe, scalable SMR design together with Prodigy’s Marine Power Stations has the potential to better meet the growing demand for affordable, carbon-free power worldwide, including remote coastal locations and island nations.”

Prodigy specializes in integrating commercial SMRs into marine power plant systems for coastal power generation. Prodigy’s SMR Marine Power Station would be shipyard-fabricated, and marine-transported to its deployment location, where it would be moored in place in sheltered and protected waters at the shoreline. Once berthed, the plant would be connected to the existing shore-side transmission system, avoiding the significant capital costs associated with terrestrial nuclear power plant deployments.

Prodigy’s Marine Power Station coupled with fully factory fabricated NuScale Power Modules™ will offer a turnkey clean energy solution for customers that is safer, more affordable, mobile, and flexible. This translates to lower costs and shorter schedules in comparison to land-based deployments.

“We look forward to our continued work with NuScale Power to integrate their flexible, proven and advanced SMR technology into Prodigy’s marine plant system,” said Mathias Trojer, Prodigy Clean Energy Chief Executive Officer. “Our combined technologies can generate scalable clean energy at any coastal location. Together, we will rapidly expand the accessibility of safe, zero-emissions, and reliable energy globally, as well as to locations right here in Canada.”

NuScale’s SMR made history in August 2020 as the first and only design to ever receive approval from the U.S. Nuclear Regulatory Commission and NuScale maintains strong momentum towards the commercialization of its SMR technology by the end of this decade. NuScale and Fluor are currently working for Utah Associated Municipal Power Systems (UAMPS) to bring the world’s first clean energy, carbon-free SMR project to commercialization.

About NuScale Power

NuScale Power has developed a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, and other process heat applications. This groundbreaking small modular reactor (SMR) design features a fully factory-fabricated NuScale Power Module™ capable of generating 77 MW of electricity using a safer, smaller, and scalable version of pressurized water reactor technology. NuScale's scalable design—power plants that can house up to four, six, or 12 individual power modules—offers the benefits of carbon-free energy and reduces the financial commitments associated with gigawatt-sized nuclear facilities. The majority investor in NuScale is Fluor Corporation, a global engineering, procurement, and construction company with a 70-year history in commercial nuclear power.

NuScale is headquartered in Portland, OR, and has offices in Corvallis, OR; Rockville, MD; Charlotte, NC; Richland, WA; and London, UK. Follow us on Twitter: @NuScale_Power, Facebook: NuScale Power, LLC, LinkedIn: NuScale-Power, and Instagram: nuscale_power. Visit NuScale Power’s website.


Contacts

Diane Hughes, Vice President, Marketing & Communications, NuScale Power
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(C) (503)-270-9329

EWING, N.J.--(BUSINESS WIRE)--$OLED #DisplayWeek2021--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced that the Company will present at the Society for Information Display (SID) Display Week 2021 International Symposium, Seminar and Exhibition being held virtually May 17-21.


“We are excited to be share some of the next generation platform technology developments in our groundbreaking Plasmonic OLED architecture and new class of near-infrared PHOLEDs at SID Display Week. In addition, we are pleased to present a joint paper with Intel Corporation on energy-efficient OLED displays for laptops,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “Innovation and invention are at the core of UDC and we are continuing to broaden our R&D programs and bolster our product development engine. Building on and expanding our pioneering work and core competencies is part of our long-term roadmap to further enable the OLED ecosystem with leading-edge technologies and best-in-class materials.”

This year SID's Symposium will include a variety of technical events, including:

  • Session 20.1: In an invited paper titled, “Increasing OLED Stability: Plasmonic PHOLED,” Dr. Nicholas Thompson of Universal Display Corporation will introduce a new organic light-emitting device in which phosphorescent emitters are intentionally coupled to the contact's surface plasmon mode. This achieves a decay rate enhancement and, with subsequent conversion of the energy to photons in free space, realizes net gains in efficiency and stability.
  • Session 21.4: In an invited paper titled, “Highly Efficient Near-Infrared Phosphorescent OLEDs,” Dr. Zhiqiang Ji of Universal Display Corporation will report on PHOLED performance with an emission peak wavelength at ~800 nm (FWHM=65 nm and PLQY=0.36) with a maximum EQE (EQEmax) of 9.7%, and an EQE of 8.8% at 10 mA/cm2. Its narrow electroluminescence spectrum resulted in more than 83% and 97% of emission above 780 nm and 750 nm, respectively.
  • Session 24.3: In a co-authored paper with Intel titled, “High-Color-Gamut OLED Displays with Reduced Power Consumption for Laptop Applications,” Dr. Mike Hack of Universal Display Corporation will show that higher color-gamut OLED displays lead to less power consumption compared to LCDs, thereby enabling higher-performance displays for laptops. Based on Intel’s day-in-life usage model, DCI-P3 and 97% BT2020 color profiles will deliver 13% and 18% power improvement for OLEDs compared with LCDs.
  • Session 23: OLED Displays I, where Dr. Nicholas Thompson of Universal Display Corporation will be the Session Co-Chair.
  • Session 25: OLED Material and Device Simulation, where Dr. Nicholas Thompson of Universal Display Corporation will be the Session Chair.

About Universal Display Corporation

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

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

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

Follow Universal Display Corporation

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Contacts

Universal Display Contact:
Darice Liu
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This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 609-964-5123

VALLEY FORGE, Pa.--(BUSINESS WIRE)--#BIDE--UGI Corporation (NYSE: UGI) announced today the release of its third Environmental, Social and Governance (“ESG”) report titled, The Foundation of a Renewable Energy Future. The ESG report is available on UGI’s ESG website at (https://ugiesg.com/620-2/). The report highlights UGI’s commitment to be a leader in the renewable energy space by providing energy solutions that are sustainable, reliable, and affordable. UGI has recently committed to reducing its Scope I (direct) emissions by 55% over the next 5 years1 on its path to align with international efforts to reduce carbon emissions as outlined in the Paris Climate Accord. UGI will reduce its emissions by investing in infrastructure and technology that lowers methane and greenhouse gas (“GHG”) emissions, incorporating low or zero carbon alternatives energy solutions such as compressed natural gas (“CNG”), renewable natural gas (“RNG”), and bio-Gas into our supply portfolio, transitioning our fleet to lower carbon solutions, and the sale of non-core assets such as Conemaugh.


At UGI, safety is not only our top priority, it is one of our core values and a way of life for us. UGI believes the achievement of superior safety performance is an important short- and long-term strategic initiative. We are proud to announce that we have established two safety goals that we will report on annually, as part of our ESG report:

  • 35% Reduction in Total Recordable Injuries by 20252,3 (Per 200,000 hours; 2017 baseline)
  • 50% Reduction in Accountable Vehicle Incidents (“AVI”) by 20254, 5,6 (Per 1,000,000 miles; 2017 baseline)

UGI embraces the diversity and uniqueness of individuals and cultures and the varied perspectives they provide. In alignment with UGI’s values to promote diversity, the Company recently created the Belonging, Inclusion, Diversity, & Equity (“BIDE”) Initiative, which provides the blueprint for achieving greater diversity of gender, race, culture, experience and thought throughout the organization. As part of BIDE, UGI employees established Black Organizational Leadership & Development (“BOLD”), an employee resource group that is focused on inclusion, equity, education, and empowerment for black employees and their allies through professional development opportunities created through mentorships and networking events. We recognize that our success depends upon the commitment and capabilities of a diverse and inclusive workforce, therefore, beginning in Fiscal 2021, UGI will include a diversity and inclusion goal as a component of its executives’ target annual bonus award opportunity.

UGI has a long history of strengthening the communities we serve both by providing financial assistance and supporting employee volunteer efforts. UGI employees continued this tradition of community support by donating over 37,000 hours to community-based organizations and established new partnerships with the Urban Affairs Coalition and Big Brothers Big Sisters. In addition, UGI was recognized by the Philadelphia Business Journal as a winner of the 2020 Faces of Philanthropy Awards Program for its sponsorship with the Museum of the American Revolution’s citizenship program.

John L. Walsh, President and Chief Executive Officer of UGI Corporation said, “We are proud of the progress we have made on our ESG initiatives and the publication of our 3rd ESG report. UGI is well positioned to become a leader in the future of renewable energy by providing energy solutions that are sustainable, reliable, and affordable. Our strategic asset network and proven competencies allow us to address growing customer demand, while our teams continue to work hard at identifying new opportunities within the renewable space. We are very proud to announce our ambitious target to lower our direct carbon emissions by 55% over the next five years and plan to provide insight into our evolving capital expenditure program that features increasing investments in renewable solutions.

“UGI remains equally focused on the social aspect of our commitments to shareholders. We are pleased with the progress we have made in our diversity and inclusion initiatives through the establishment of BIDE and BOLD. By fostering an environment that values diversity, we can leverage talent, unique perspectives, and varying employee experiences to ensure continued long-term success. UGI remains committed to providing enhanced disclosure and communicating our progress on key ESG initiatives, as we continue to provide value for our stakeholders.”

1 Scope 1 emissions reduction target does not include emissions from the Mountaineer acquisition, which is expected to close in 2021. The emissions from the Pine Run acquisition, announced in February 2021, will be included in the baseline 2020 number as this investment will contribute to our five year goal. The 2020 base number also takes a 5-year emissions average from the Hunlock generation facility to account for year-over-year differences in run time.

2All domestic UGI companies use the OSHA definition for Total Recordable Injuries (“TRIR”). TRIR represents the number of work-related injuries or illness’s requiring medical treatment beyond first aid, per 200,000 hours.

3UGI International reports rates in accordance with the Industrial Management System guidelines. A TRIR represents a work-related recordable injury to an employee or hired staff that requires medical treatment beyond first aid, as well as one that causes death, or days away from work.

4UGI Utilities and UGI Energy Services use the American Gas Association definition for AVI, which defines an AVI as a reportable motor vehicle incident in which the driver failed to do everything that reasonably could have been done to avoid the incident.

5UGI International reports rates in accordance with the Industrial Management System guidelines. An AVI represents an incident that caused or contributed to, in whole or in part, by actions of the company driver or contractor driver, or an incident that could have been avoided by the company driver, using reasonable defensive driving measures, which resulted in injury or damage, either to the vehicle, or to the object struck, regardless of value.

6AmeriGas defines an AVI as any incident that could have been preventable.

About UGI Corporation

UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas, in twelve states and the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.

Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.


Contacts

Investor Relations
Tameka Morris, 610-456-6297
Arnab Mukherjee, 610-768-7498
Shelly Oates, 610-992-3202

TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) Chief Financial Officer John Chandler and Chief Operating Officer Micheal Dunn are scheduled to participate in meetings with investors at the 2021 Energy Infrastructure Council Investor Conference in Las Vegas, Nevada on Thursday, May 20.


A fireside chat Q&A session with Dunn is scheduled for approximately 10:15 a.m. Pacific Time (12:15 p.m. Central Time). A link to the live webcast, as a well as a replay, will be available at https://investor.williams.com on May 20.

The presentation used during the investor meetings will be posted in the same location the morning of May 20.

About Williams

Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use.


Contacts

MEDIA:
This email address is being protected from spambots. You need JavaScript enabled to view it.
(800) 945-8723

INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075

Tech-enabled BPO looks to the future with sustainable best practices across its digital CX platform in the call center and work-at-home customer support

ST. PETERSBURG, Fla.--(BUSINESS WIRE)--#TIA--iQor, a managed services provider of customer engagement and technology-enabled BPO solutions, announced today that it was awarded TIA's 2020 Global Sustainability Award in the Corporate Category. The company was a previous winner of the award in 2018.


iQor’s digital CX technology and approach to innovation has helped the company “Go Green” while dramatically reducing energy usage. Over a decade ago, iQor eliminated all phones and PC computers at its contact centers, replacing them with a soft phone and thin clients, dramatically reducing energy use per employee and electronics into landfills. Typical desktops use up to 65w-250w of energy. iQor’s thin clients use only 30w of energy – a 66% to 73% reduction in power usage. Switching just 10,000 of our PCs to thin clients has freed up enough electricity to power 80-100 homes for an entire year. In addition, switching the same number of PCs to thin clients reduces carbon emissions into the atmosphere by more than 1,600 metric tons in a year. Our Digital CX Command Center automatically logs off employees when a terminal is no longer in use.

"We're excited to be recognized for our ongoing commitment to sustainability," said President and CEO Gary Praznik. "Throughout our history, iQor has been committed to sustainable best practices. Our employees care deeply about the environment, and it's our job to provide sustainable digital CX technology, education, and awareness across the nine countries we operate in today."

Green initiatives are an integral part of iQor’s culture and that of its partners, from purchasing to recycling. With a strong shift to Work-at-Home customer support, the company expects to make an even greater impact in the years to come.

Award winners will be featured on Thomson Reuters digital sign, one of the largest in the world, in Times Square in the heart of New York City on May 14, 2021. The billboard is located at 43rd Street & 7th Ave.

iQor is a co-winner with IBM and congratulates all winners for their commitment to the environment we all share.

About TIA

The Telecommunications Industry Association (TIA) represents more than 400 global companies that enable high-speed communications networks and accelerate next-generation ICT innovation. Through leadership in U.S. and international advocacy, technology programs, standards development, and business performance solutions, TIA and its members are accelerating global connectivity across every industry and market. TIA is accredited by the American National Standards Institute (ANSI).

About iQor

iQor is a managed services provider of customer engagement and technology-enabled BPO solutions. With 35,000 employees in 9 countries, we partner with many of the world's best-known brands to deliver customer support solutions that span the consumer value chain. Our award-winning technology and interaction analytics platforms enable us to measure, monitor, and analyze brand interactions, improve business processes, and find operational efficiencies that lead to superior outcomes for our partners across the customer life cycle. For more information, please visit us at www.iqor.com or follow us at www.twitter.com/iqor.


Contacts

Media Contacts
Robert Constantine
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WARRENVILLE, Ill.--(BUSINESS WIRE)--Fuel Tech, Inc. (NASDAQ: FTEK) (or “the Company”), a technology company providing advanced engineering solutions for the optimization of combustion systems, emissions control and water treatment in utility and industrial applications, today announced that in order to facilitate stockholder participation for its Annual Meeting of Stockholders to be held May 20, 2021, the Company will host a conference call for those wishing to listen in. Interested parties may call into the annual meeting by using the dial-in information shown below. However, the Company expects that the meeting will be briefer than normal and be limited to the items to be voted on at the annual meeting. The Company does not intend to have management make a presentation.


Additional information regarding the annual meeting including the proposals to be voted on can be found in the Company’s proxy statement on Schedule 14A, which was filed with the Securities and Exchange Commission on March 26, 2021. A copy may be obtained free of charge at www.sec.gov

Dial-In Information for Fuel Tech, Inc. Annual Meeting of Stockholders:

Please dial in using your phone.

United States: +1 (571) 317-3116

Access Code: 749-957-613

About Fuel Tech

Fuel Tech develops and commercializes state-of-the-art proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. These technologies enable customers to operate in a cost-effective and environmentally sustainable manner. Fuel Tech is a leader in nitrogen oxide (NOx) reduction and particulate control technologies and its solutions have been in installed on over 1,200 utility, industrial and municipal units worldwide. The Company’s FUEL CHEM® technology improves the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion and opacity. Water treatment technologies include DGI™ Dissolved Gas Infusion Systems which utilize a patented nozzle to deliver supersaturated oxygen solutions and other gas-water combinations to target process applications or environmental issues. This infusion process has a variety of applications in the water and wastewater industries, including remediation, aeration, biological treatment and wastewater odor management. Many of Fuel Tech’s products and services rely heavily on the Company’s exceptional Computational Fluid Dynamics modeling capabilities, which are enhanced by internally developed, high-end visualization software. For more information, visit Fuel Tech’s web site at www.ftek.com.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

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


Contacts

Vincent J. Arnone
Principal Financial Officer
(630) 845-4500

Devin Sullivan
Senior Vice President
The Equity Group Inc.
(212) 836-9608

SAN JOSE, Calif.--(BUSINESS WIRE)--$QS--QuantumScape Corporation, (NYSE: QS, or “QuantumScape”) today announced that it has entered into an agreement with Volkswagen Group of America, Inc. to select the location of their joint-venture solid-state battery pilot-line facility by the end of 2021. The companies currently contemplate Salzgitter, Germany for the location.


The pilot-line facility, QS-1, will initially be a 1-gigawatt hour (GWh) battery cell commercial production plant for electric vehicle batteries. QuantumScape and Volkswagen intend to expand production capacity by a further 20 GWh at the same location.

“Our goal has been to bring our solid-state lithium-metal batteries to market as soon as possible,” said Jagdeep Singh, CEO and co-founder of QuantumScape. “This joint venture brings together QuantumScape’s core battery technology with Volkswagen’s deep understanding of high-volume, high-quality production, and maximizes our ability to bring this technology into industrial production.”

QS-1 will follow QS-0, QuantumScape’s planned pre-pilot line. In its Q1 Shareholder Letter, QuantumScape highlighted progress on that front as well, securing a facility in San Jose to house the QS-0 line. To fulfill the strong inbound interest in its technology, the company also recently announced it was doubling the initial QS-0 capacity to over 200,000 cells annually, enough for hundreds of test vehicles each year.

In March, QuantumScape announced an additional $100 million in funding from Volkswagen after Volkswagen confirmed through tests at its labs in Germany that QuantumScape cells met the established technical milestone.

About QuantumScape Corporation

QuantumScape is a leader in developing 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 more information, please visit www.quantumscape.com.

Forward-Looking Statements

The information in this press release includes a “forward-looking statement” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, including, without limitation, regarding the development, timeline and performance of QuantumScape’s products and technology are forward-looking statements.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside QuantumScape’s control and are difficult to predict. Factors that may cause such differences include but are not limited to the ones listed here. The Company faces significant barriers in its attempts to produce a solid-state battery cell and may not be able to successfully develop its solid-state battery cell. Building high volumes of multi-layer cells in the commercial form factor and with higher layer count requires substantial development effort. The Company could encounter significant delays and/or technical challenges in replicating the performance seen in its single-layer cells and four-layer cells and in achieving the high yield, reliability, uniformity and performance targets required for commercial production and sale. The Company may encounter delays and other obstacles in acquiring, installing and operating new manufacturing equipment for automated and/or continuous-flow processes, including vendor delays and challenges optimizing complex manufacturing processes. QuantumScape cautions that the foregoing list of factors is not exclusive. Additional information about factors that could materially affect QuantumScape is set forth under the “Risk Factors” section in the registration statement filed by QuantumScape with the SEC on March 25, 2021 and available on the SEC’s website at www.sec.gov.

Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Should underlying assumptions prove incorrect, actual results and projections could different materially from those expressed in any forward-looking statements.


Contacts

For Investors
John Saager, CFA
Head of Investor Relations
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For Media
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LOS ANGELES--(BUSINESS WIRE)--Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, today announced its financial results for the first quarter ended March 31, 2021.


First Quarter Financial Update

  • Generated revenues of $1.1 million for the first quarter of 2021
  • Cash, cash equivalents and investments decreased by $4.9 million from December 31, 2020
  • Cash, cash equivalents and investments as of March 31, 2021 of $287.5 million

Recent Business Highlights

  • Winning the trust of key OEMs: Romeo Power has secured a long-term supply agreement whereby PACCAR will purchase the company’s battery packs and battery management software for heavy-duty battery-electric Peterbilt 579EVs and Peterbilt 520EV refuse trucks in North America
  • Affirming position as trusted electrification provider: Romeo Power and Heritage Environmental Services have selected OEM participants in the Heritage-Romeo Power Fleet Electrification Program
  • Securing long-term agreements: Romeo Power continues to both enter into and execute on long-term agreements with OEMs and fleet managers
  • Negotiating cell supply agreements: Romeo Power is well positioned to sign an agreement shortly for multiple GWh through a long-term supply commitment with a top tier battery cell partner
  • Qualifying commercial battery cell suppliers: Romeo Power is actively collaborating with both established players and newer entrants to qualify additional battery cell suppliers that meet the Company’s rigorous requirements for use in heavy-duty Class 6, 7 and 8 trucks

Management Commentary

“Demand for vehicle electrification continues to grow. As we look at the sheer size of the opportunity, we are focusing on meeting this accelerating demand, starting with heavy-duty long-range vehicles that require the most durable and effective EV solutions,” commented Lionel Selwood, Jr., Chief Executive Officer of Romeo Power. He continued: “As we mark our fifth year as a company, we continue to leverage our advanced engineering expertise to push our technology and enhance relationships with key industry players, driven by a shared objective to continue innovating and pushing EV technology forward. We are proud to have earned the trust of industry leaders, including those who face some of the most formidable electrification challenges, such as cost-effective long-haul trucking, and we look forward to working with the key industry players to develop and commercialize safe, durable and cost-effective battery system solutions.

"The OEMs and fleet managers that are serious about electrification recognize that Romeo Power’s solutions can deliver superior uptime, profit-per-mile and return on investment, a winning combination for customers, suppliers and investors. This is evident in Romeo Power’s recent wins, including a long-term agreement with leading commercial vehicle maker PACCAR, the maker of light-, medium- and heavy-duty trucks under the Peterbilt, Kenworth and DAF nameplates. The level of trust placed in Romeo Power by PACCAR to help them achieve their ambitious electrification goals speaks volumes.

"During the first quarter, Romeo Power and Heritage Environmental Services selected the OEMs who will participate in the Heritage– Romeo Power Fleet Electrification Program. This includes PACCAR, Lion Electric and Nikola, leading manufacturers that will now be fitted with Romeo Power’s cutting-edge electrification solutions. These packs will be supplied under existing contracts and are subject to successful validation in the pilot phase of the program. Romeo Power has demonstrated its capability to help major fleet owners meet their electrification goals, and has made building these relationships a go-to-market priority.

"Romeo Power has prioritized collaboration with ecosystem participants and is proud to be accelerating industry progress via our unique testing capabilities so we can all meet the moment and deliver on the promise of EVs everywhere.”

Conference call information

Romeo Power will host a conference call at 2:00 p.m. U.S. Pacific Time (5:00 p.m. U.S. Eastern Time) today, May 13, 2021. Participating on the call will be Lionel Selwood, Jr., President and Chief Executive Officer, and Lauren Webb, Chief Financial Officer, of Romeo Power. To access the conference call, parties should visit the events section of the Investor Relations website at https://investors.romeopower.com/. A recording of the webcast will also be available following the conference call.

Forward Looking Statements

Certain statements in this press release may constitute “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, express or implied statements concerning the Company’s expectations regarding its future financial performance, revenues and capital expenditures, the Company’s expectations with respect demand for its products, the magnitude and timing of future contracts, the availability and pricing of battery cells, the Company’s ability to secure long-term sourcing commitments, and the results of the Heritage-Romeo Power Fleet Electrification Program are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Romeo Power’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: Romeo Power’s ability to execute on its plans to develop and market new products and the timing of these development programs; Romeo Power’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Romeo Power’s products; the success of other competing technologies that may become available; Romeo Power’s ability to identify and integrate acquisitions; the performance of Romeo Power’s products and customers; potential litigation involving Romeo Power; demand for battery cells and supply shortages; the potential effects of COVID-19; and general economic and market conditions impacting demand for Romeo Power’s products. You should carefully consider the foregoing factors and the other risks and uncertainties described in Romeo Power’s Annual Report on Form 10-K for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by the Company. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from those implied by our forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Romeo Power undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Note Regarding Use of Non-GAAP Financial Measures

This press release contains non-GAAP financial measures, including EBITDA and Adjusted EBITDA. “EBITDA” is defined as earnings before interest income and expense, income tax expense or benefit, and depreciation and amortization. “Adjusted EBITDA” has been calculated using EBITDA adjusted for, stock-based compensation, and the change in fair value of Public and Private Placement Warrants. The Company believes that both EBITDA and Adjusted EBITDA provide additional information for investors to use in (1) evaluating our ongoing operating results and trends and (2) comparing our financial performance with those of comparable companies, which may disclose similar non-GAAP financial measures to investors. These non-GAAP measures provide investors with incremental information for the evaluation of our performance after isolation of certain items deemed unrelated to our core business operations. EBITDA and Adjusted EBITDA are presented as supplemental measures to our GAAP measures of performance. When evaluating EBITDA and Adjusted EBITDA, you should be aware that we may incur future expenses similar to those excluded when calculating these measures. In addition, our presentation of these measures should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Furthermore, our computation of Adjusted EBITDA may not be directly comparable to similarly titled measures computed by other companies, as the nature of the adjustments that other companies may include or exclude when calculating Adjusted EBITDA may differ from the adjustments reflected in our measure. Because of these limitations, EBITDA and Adjusted EBITDA should not be considered in isolation, nor should these measures be viewed as a substitute for the most directly comparable GAAP measure, which is net income (loss). As appropriate, the most directly comparable GAAP financial measures and information reconciling these non-GAAP financial measures to the Company’s financial results prepared in accordance with GAAP are included in this press release.

About Romeo Power, Inc.

Founded in 2016 and headquartered in Los Angeles, California, Romeo Power (NYSE: RMO) is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. The Company’s suite of advanced hardware, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. Romeo Power's 113,000 square-foot manufacturing facility brings its flexible design and development process in-house to pack the most energy dense modules on the market. To keep up with everything Romeo Power, please follow the Company on social @romeopowerinc or visit http://romeopower.com.

Financial Statements

Romeo Power, Inc.

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

(Dollar amounts in thousands, except share and per share data)

 

Three Months Ended March 31,

2021

2020

REVENUES:
Product revenues

$

341

 

$

1,588

 

Service revenues

 

-

 

 

52

 

Related party service revenues

 

713

 

 

882

 

Total revenues

 

1,054

 

 

2,522

 

COST OF REVENUES:
Product cost

 

4,238

 

 

2,729

 

Service cost

 

-

 

 

153

 

Related party service cost

 

589

 

 

750

 

Total cost of revenues

 

4,827

 

 

3,632

 

GROSS LOSS

 

(3,773

)

 

(1,110

)

OPERATING EXPENSES:
Research and development

 

3,771

 

 

1,802

 

Selling, general and administrative

 

17,999

 

 

2,907

 

Total operating expenses

 

21,770

 

 

4,709

 

OPERATING LOSS

 

(25,543

)

 

(5,819

)

Interest expense

 

(7

)

 

(254

)

Interest income

 

90

 

 

-

 

Change in fair value of public and private placement warrants

 

116,125

 

 

-

 

INCOME (LOSS) BEFORE INCOME TAXES AND LOSS IN EQUITY METHOD INVESTMENTS

 

90,665

 

 

(6,073

)

Loss in equity method investments

 

(643

)

 

(696

)

Provision for income taxes

 

(10

)

 

-

 

NET INCOME (LOSS)

 

90,012

 

 

(6,769

)

 
OTHER COMPREHENSIVE LOSS
Available-for-sale debt investments:
Change in net unrealized losses, net of income taxes

 

(342

)

 

-

 

Net losses reclassified to earnings, net of income taxes

 

38

 

 

-

Total other comprehensive loss, net of income taxes

 

(304

)

 

-

 

COMPREHENSIVE INCOME (LOSS)

$

89,708

 

$

(6,769

)

 
Net income (loss) per share
Basic

$

0.70

 

$

(0.09

)

Diluted

$

0.66

 

$

(0.09

)

 
Weighted average number of shares outstanding
Basic

 

128,788,715

 

 

74,647,985

 

Diluted

 

135,812,697

 

 

74,647,985

 

Romeo Power, Inc.

Unaudited Condensed Consolidated Balance Sheets

(Dollar amounts in thousands, except share and per share data)

 

March 31,

December 31,

2021

2020

ASSETS
Current assets
Cash and cash equivalents

$

41,278

 

$

292,442

 

Investments

 

246,215

 

 

-

 

Accounts receivable, net of allowance for expected credit loss of $213 and $238 at March 31, 2021 and December 31, 2020, respectively

 

1,444

 

 

841

 

Inventories, net

 

5,689

 

 

4,937

 

Insurance receivable

 

6,000

 

 

6,000

 

Deferred costs

 

998

 

 

-

 

Prepaid expenses and other current assets

 

9,306

 

 

1,269

 

Total current assets

 

310,930

 

 

305,489

 

 
Restricted cash

 

1,500

 

 

1,500

 

Property, plant and equipment, net

 

6,321

 

 

5,484

 

Equity method investments

 

38,357

 

 

35,000

 

Operating lease right-of-use assets

 

5,411

 

 

5,469

 

Other noncurrent assets

 

2,893

 

 

3,100

 

TOTAL ASSETS

$

365,412

 

$

356,042

 

 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable

$

5,033

 

$

2,900

 

Accrued expenses

 

3,094

 

 

2,844

 

Contract liabilities

 

1,672

 

 

815

 

Current maturities of long-term debt

 

2,783

 

 

2,260

 

Operating lease liabilities, current

 

855

 

 

853

 

Legal settlement payable

 

6,000

 

 

6,000

 

Other current liabilities

 

248

 

 

384

 

Total current liabilities

 

19,685

 

 

16,056

 

 
Commitments and contingencies
Long-term debt, net of current portion

 

559

 

 

1,082

 

Public and private placement warrants

 

11,921

 

 

138,466

 

Operating lease liabilities, net of current portion

 

4,661

 

 

4,723

 

Other noncurrent liabilities

 

-

 

 

17

 

Total liabilities

 

36,826

 

 

160,344

 

 
Stockholders' equity
Preferred stock ($0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding at March 31, 2021 and December 31, 2020)

 

-

 

 

-

 

Common stock ($0.0001 par value, 250,000,000 shares authorized, 130,529,147 and 126,911,861 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively)

 

13

 

 

12

 

Additional paid-in capital

 

416,308

 

 

373,129

 

Accumulated other comprehensive loss

 

(304

)

 

-

 

Accumulated deficit

 

(87,431

)

 

(177,443

)

Total stockholders’ equity

 

328,586

 

 

195,698

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

365,412

 

$

356,042

 

Romeo Power, Inc.

Unaudited Condensed Consolidated Statements of Cash Flows

(Dollar amounts in thousands)

 

Three Months Ended March 31,

2021

 

2020

CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)

$

90,012

 

$

(6,769

)

Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization

 

505

 

 

482

 

Stock-based compensation

 

6,553

 

 

277

 

Inventory provision

 

392

 

 

-

 

Change in fair value of public and private placement warrants

 

(116,125

)

 

-

 

Loss in equity method investments

 

643

 

 

696

 

Non-cash lease expense—operating leases

 

58

 

 

57

 

Non-cash lease expense—finance leases

 

71

 

 

71

 

Other

 

(113

)

 

-

 

Changes in operating assets and liabilities:
Accounts receivable

 

(603

)

 

26

 

Inventories

 

(1,144

)

 

(961

)

Prepaid expenses and other current assets

 

(7,023

)

 

691

 

Accounts payable

 

2,630

 

 

853

 

Accrued expenses

 

250

 

 

441

 

Interest accrued on notes payable

 

-

 

 

239

 

Deferred costs

 

(998

)

 

-

 

Contract liabilities

 

857

 

 

367

 

Operating lease liabilities

 

(60

)

 

(53

)

Other, net

 

(77

)

 

(48

)

Net cash used in operating activities

 

(24,172

)

 

(3,631

)

 
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of investments

 

(281,124

)

 

-

 

Proceeds from maturities of investments

 

32,318

 

 

-

 

Proceeds from sales of investments

 

1,300

 

 

-

 

Equity method investment

 

(4,000

)

 

-

 

Capital expenditures

 

(1,617

)

 

(601

)

Net cash used in investing activities

 

(253,123

)

 

(601

)

 
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of convertible notes

 

-

 

 

4,924

 

Issuance of term notes

 

-

 

 

750

 

Issuance of common stock

 

-

 

 

1,277

 

Exercise of stock options

 

4,681

 

 

-

 

Exercise of stock warrants

 

21,526

 

 

-

 

Principal portion of finance lease liabilities

 

(76

)

 

(69

)

Net cash provided by financing activities

26,131

 

6,882

 

 
Net change in cash, cash equivalents and restricted cash

(251,164

)

2,650

 

Cash, cash equivalents and restricted cash, beginning of period

 

293,942

 

 

1,929

 

Cash, cash equivalents and restricted cash, end of period

$

42,778

 

$

4,579

 

 
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:
Cash and cash equivalents

$

41,278

 

$

3,079

 

Restricted cash

 

1,500

 

 

1,500

 

Total cash, cash equivalents and restricted cash

$

42,778

 

$

4,579

 

Romeo Power, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures

(Dollar amounts in thousands)

 

Three Months Ended March 31,

2021

2020

Net Income (loss)

$

90,012

 

$

(6,769

)

Interest expense

 

7

 

 

254

 

Interest income

 

(90

)

 

-

 

Provision for income taxes

 

10

 

 

-

 

Depreciation and amortization expense

 

505

 

 

482

 

EBITDA

$

90,444

 

$

(6,033

)

Stock-based compensation

 

6,553

 

 

277

 

Change in fair value of public and private placement warrants

 

(116,125

)

 

-

 

Adjusted EBITDA

$

(19,128

)

$

(5,756

)

 


Contacts

Romeo Power
For Investors
ICR, Inc.
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For Media
ICR, Inc.
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TORONTO--(BUSINESS WIRE)--$NACO #ETFs--NEO is proud to welcome Ninepoint Partners LP (“Ninepoint”) back to the NEO Exchange, with the launch of a broad theme of ETFs. The funds began trading today under the symbols NNRG, NAHF, and NACO.


"We're happy to expand our partnership with NEO as we add to our ETF product lineup,” said James Fox, co-CEO and Managing Partner at Ninepoint. “The launch of these three Ninepoint ETFs makes it easier for investors to better diversify their portfolios, and that's what Ninepoint is committed to delivering: better diversification."

The three new Ninepoint ETFs now available on the NEO Exchange include:

Ninepoint Energy Fund (NNRG)
Seeking to achieve long-term capital growth, this Fund invests primarily in equity and equity-related securities of companies that are involved in the exploration, development, production and distribution of oil, gas, coal, or uranium and other related activities in the energy and resource sector.

Ninepoint Alternative Health Fund (NAHF)
The Fund’s objective is to achieve growth by investing primarily in equity securities of companies engaged in nutrition, nutraceuticals, and new forms of medicines and pharmaceutical solutions.

Ninepoint Alternative Credit Opportunities Fund (NACO)
Seeking to generate long-term total returns, this Fund invests in a diversity of Canadian, U.S., and international fixed income securities for short-term and long-term gain. The Fund has no geographic, industry sector, asset class, or market capitalization restrictions. The Fund will use leverage created through cash borrowings, short sales, and derivative contracts.

These three new funds join four other broad theme Ninepoint ETFs already listed on the NEO Exchange, which were launched in November of 2020. Investors can trade units of the Ninepoint ETFs through their usual investment channels, including discount brokerage platforms and full-service dealers. Click here for a complete view of all NEO-listed securities.

“It’s always gratifying to welcome back a returning issuer to the NEO Exchange,” commented Jos Schmitt, President and CEO of NEO. “It’s an indication of their continued trust, and a testament to the service and support we provide to all of our clients at NEO. Ninepoint has a long and successful track record in the alternative investment space and we look forward to partnering with them once again, as we bring our own ETF expertise to the table.”

NEO consistently represents about 20% of all volume traded in Canadian ETFs and close to 15% of all trading in Canadian-listed companies.

About the NEO Exchange

The NEO Exchange is Canada’s stock exchange for the innovation economy, bringing together investors and capital raisers within a fair, liquid, efficient, and service-oriented environment. Fully operational since June 2015, NEO puts investors first and provides access to trading across all Canadian-listed securities on a level playing field. NEO is a non-venture stock exchange and lists senior companies and investment products seeking a stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.

Connect with NEO: Website | LinkedIn | Twitter | Instagram

About Ninepoint Partners LP

Based in Toronto, Ninepoint is one of Canada’s leading alternative investment management firms overseeing approximately $8 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including Alternative Income and Real Assets, in addition to North American and Global Equities.

Connect with Ninepoint: Website | LinkedIn | Twitter


Contacts

NEO Media Contact:
Aimee Morita
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Two-day Hiring Events on May 21-22 Aim to Hire Drivers and Technicians Across North America

HOUSTON--(BUSINESS WIRE)--Waste Management, Inc. (NYSE: WM) is holding Career Day events across North America on May 21-22 aimed at hiring essential frontline driver and technician positions. The company is rolling out a range of new employee benefits from flexible work schedules, sign-on bonuses and a new education and upskilling benefit program, Your Tomorrow, in collaboration with Guild Education. Your Tomorrow is a first-of-its-kind program that provides WM employees, as well as their eligible dependents, the opportunity to choose from a full range of education options, including earning a college degree, at no cost to the employee.


The WM Career Day events, designed to proactively address talent needs, offer candidates the opportunity to interview and potentially receive same-day offers to start their careers with the WM family. Interview spots can be reserved in advance at https://careers.wm.com/wmevents, and walk-ins will be accepted. Appropriate COVID protocols will be in place for these events.

WM Your Tomorrow offers nearly 36,000 full-time U.S. employees access to more than 170 fully-funded programs, including undergraduate and graduate degrees, short-form technology and business certificate programs, and high school completion. Later this year, the company plans to expand this offering to benefits-eligible dependents, including nearly 34,000 children and spouses, beginning with enrollment in 2022 educational programs making WM one of the first employers to extend education and upskilling opportunities at this scale.

“At WM, we’re an innovative people-first organization that cares deeply about the careers, economic mobility and wellbeing of our team members,” said Tamla Oates-Forney, Chief People Officer, Waste Management. “Your Tomorrow supports the reskilling and retention of existing talent, while also helping to attract new talent, to equip the business with a skilled workforce for the future and further position WM as an employer of choice. It will soon help our team members with the support needed to provide for their dependents’ education. Through our Career Day events, we hope to attract new team members that want to evolve their career and will take advantage of this new benefit program.”

“We’re excited to partner with WM to offer education and upskilling opportunities to their employees, including the frontline essential workers who help us maintain a sustainable future in our communities,” said Rachel Carlson, CEO & Co-Founder, Guild Education. “By being the first company to extend the upskilling offering to employees and their families in this way, WM and their leaders are game-changers. They’re setting the standard for how organizations can creatively invest not only in their employees, but also those employees’ children and families, in a way that ties to their company strategy."

Your Tomorrow includes education and training programs that directly tie to the business’s needs and map to internal career pathways, focusing primarily on business, technology, science and mathematics. These areas include data analytics, digital transformation and systems thinking to help team members upskill and reskill. Learning providers include eCornell, Pathstream, Paul Quinn College, Purdue University Global, Southern New Hampshire University, University of Arizona and others.

About Waste Management

Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The Company’s customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management, visit www.wm.com.

About Guild Education

Denver-based Guild Education is on a mission to unlock opportunity for America's workforce through education and upskilling. Guild is a certified B-Corp, founded to bridge the gap between education and employment for the 88M working adults in the US in need of upskilling for the future of work. Guild's industry-leading technology platform allows the nation's largest employers — including Walmart, The Walt Disney Company and Chipotle — to offer strategic education and upskilling to their employees, connecting them to a learning ecosystem of the nation's best universities and learning providers, with tuition paid by the company. Guild serves working learners from all 50 states, including 54% who are students of color and 56% who are female. Guild's payments and technology platform, curated learning marketplace, and advanced education and career coaching come together to help working adult learners advance in their education and career, debt-free. For more information, visit www.guildeducation.com.


Contacts

Waste Management
Janette Micelli
602-579-6152
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BALA CYNWYD, Pa.--(BUSINESS WIRE)--#ceo--PaperWorks Industries, Inc. has announced the appointment of Brian Janki to the posts of President & CEO and member of the Board of Directors effective May 10, 2021. Mr. Janki replaces C. Anderson “Andy” Bolton.


“I am extremely excited to join PaperWorks,” says Janki. “PaperWorks is an outstanding company with a great market reputation, and I look forward to serving our customers and working collaboratively with our team members on safely and successfully executing our strategy.”

Mr. Janki most recently served as an advisor to the PaperWorks Board of Directors, and previously as President & CEO of Dunn Paper.

Mr. Janki has deep industry experience working with vertically integrated companies in recycled board substrates and folding carton segments. Prior to joining Dunn Paper, Mr. Janki held key leadership roles in Mill, Packaging, and Specialty Papers business units at Caraustar, Greif, and Glatfelter.

About PaperWorks

PaperWorks is a leading, integrated North American full-service provider of recycled paperboard and specialized folding cartons for packaging applications. The company specializes in providing folding carton solutions for a wide variety of market sectors including food, beverage, personal care, pharmaceuticals, nutraceuticals and medical devices and is also known for its state-of-the art, extended color gamut printing capability, which creates shelf-differentiating graphics.

PaperWorks has invested in state-of-the-art technology over the past three years to upgrade its paperboard mills and folding carton converting plants to be at the forefront of innovation and market differentiation. The company is committed to the highest sustainable forestry and procurement standards. Product certifications include the Forest Stewardship Council (FSC) and 100% Recycled Paperboard Alliance (RPA100). For more information, please visit: www.onepaperworks.com.

Cautionary Statement Regarding 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. Forward-looking statements represent management's current expectations and are based upon information available to the Company at the time of this press release. Statements in this press release that are not historical or current facts are "forward-looking statements." Such forward-looking statements include statements using words such as "anticipate," "expect," "believe," "continue," "will," "may," "estimate," "assume," "presume," "pursue," "outlook," "plan," "goal," "milestone" and similar expressions. Such statements are subject to a number of risks, uncertainties and assumptions that may cause actual results, developments, or achievements to differ materially from those projected or implied in these statements including, but not limited to, potential limitations on the Company’s ability to maintain contracts and other critical business relationships; risks associated with general economic and business conditions; requirements for adequate liquidity to fund its operations in the future, including obtaining sufficient financing on acceptable terms; other matters related to its indebtedness; and the risk factors and known trends and uncertainties described in the Company’s most recent periodic reports provided to Noteholders.

Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.


Contacts

Media Contact: Gabriela Goodman
PaperWorks Industries
+1 (215) 984-7000
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By Ric Campo, Roger Guenther, and Rich Byrnes

HOUSTON--(BUSINESS WIRE)--Each May, we celebrate National Infrastructure Week to advocate for better roads, bridges, rail, waterways, water supply, flood control, aviation, and of course, our Port. Infrastructure needs more than a week of focus, however. It is a never-ending task requiring continuous support from communities, industry, and elected officials.



That combination of stakeholders came together over a century ago to create the original “Houston Plan,” combining public and private money to develop our port and launch Houston’s success.

Continuing our success requires Infrastructure more than ever.

In February, the American Society of Civil Engineers gave our nation’s infrastructure a grade of “C-.” The good news? That is up from “D+” grades of 2017 and 2013. The bad news: ASCE projects a ten-year investment gap of $2.6 Trillion. That’s with a “T”!

In Texas, we are slightly better off earning a “C,” but that averages Energy (B+) with Levees (D) and Roads (D+). Bridges (B-) boast the country’s smallest percentage of deficient structures at 1.3%. However, near the ship channel, we still have major crossings at Beltway 8 (currently being replaced), east I-10, and the east loop 610 bridge quickly approaching their need for replacements. Across the area, over 30 critical freight projects need to progress. However, capital needs continue to outstrip available funding; the Transportation Advocacy Group (TAG) estimates $21 billion is required for area road and freight projects and another $11 billion in other mobility works, with two-thirds of that remaining unfunded.

More than simply fixing “crumbling” roads and bridges, we should also focus on our strengths – high-performing assets which need improvements to keep ahead of our growing economy. Nowhere is this more important than our Port and the Houston Ship Channel.

We are fortunate to have a vibrant port where public and private docks are in solid shape and generating economic activity worth $802 billion annually to the U.S. Houston is now the largest port in the nation in terms of total tonnage, and the 3.2 million U.S. jobs that Houston’s port area supports represent 10% of the 31 million jobs driven by ports nationwide. Cargos, ship sizes, and investment needs all continue to grow. Port Houston has invested a billion dollars in facilities and equipment in recent years, and we need $1.4 billion by 2025 and another $3.1 billion through 2040 to support the region. Those billions are in addition to the tens of billions more in private investments along the Ship Channel and nearby industry.

Port Houston has changed the business model as well. Partnering with the Army Corps of Engineers, a new path is being struck for widening and deepening the Houston Ship Channel. In just one year, our Feasibility Report was approved, Congress authorized the project, and appropriations were approved to start the Army Corps’ first piece of their share of the work. Port Houston has invested more than $60 million to accelerate design; and in April, awarded the first contract for our share of the work, officially marking our move from planning to execution, nearly a decade ahead of the traditional federal path.

This aggressive schedule and tireless work is aimed at creating value for the nation and our region. Transportation efficiencies lower consumer costs, increase energy security and improve safety. Efficiencies support environmental benefits as smoother ship traffic can lower vessel air emissions 7% per year, and water quality will be enhanced through hundreds of acres of new oyster reefs and wildlife habitat. Beyond the Channel project, Port Houston’s focus on sustainability has reduced our carbon footprint by 55% over four years, eliminating a quarter-million tons of CO2 over the next decade. Yet more can and must be done, and it will take a collaborative village to do it.

Like the limits for highway and freight project funding, there will be limits on port resources as well. And while we make investments in the local share of the ship channel, we are fortunate to receive INFRA and Port Infrastructure grants to augment the cash needs. Our local and state roads will need more of the same to fund what is unfunded but badly needed.

Across the water and landside, more innovation and new partnerships will also be needed to reduce bottlenecks along networks, promote innovation, and transition to more sustainable transportation technologies.

New sources of public and private financing will be required. Balancing these needs requires continued commitment from the community, industry, and officials.

One of these commitments will be keeping the federal government accountable to use the Harbor Maintenance Trust Fund for its intended purpose of keeping our waterways clear and maintained to their authorized depths. Recent CARES and WRDA legislation promise to steer more of the $9 billion fund back to ports and waterways, its intended purpose. While we invest local dollars in accelerating the channel project, the federal government needs to maintain it.

Another critical commitment is from our industry partners.

The Houston Ship Channel project will cost about $1 billion and will take everyone’s support to keep up the accelerated pace which will grow the huge economic impact of the port area. We also must work together to identify opportunities for investing in innovative technologies and sustainability across the greater port area with public and private stakeholders.

And finally, for all the above, reducing freight bottlenecks, spurring innovations in transport systems, port infrastructure, and sustainability, we need public support from officials and voters that has reliably appeared when needed, as in the Texas Spirit of the “Houston Plan” so long ago.

Campo is the Chairman of the Port Commission

Guenther is Port Houston’s Executive Director

Byrnes is the Port’s Chief Infrastructure Officer

All can be contacted at This email address is being protected from spambots. You need JavaScript enabled to view it.

About Port Houston

For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient and fastest-growing container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit the website at www.PortHouston.com.


Contacts

Lisa Ashley, Director, Media Relations
Office: 713-670-2644; Mobile: 832-247-8179
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Ranks among highest-scoring businesses with standout employee engagement, development opportunities and collaboration

MINNEAPOLIS--(BUSINESS WIRE)--#insiderrisk--Code42, the Insider Risk Management leader, has been named to Inc. magazine’s annual list of the Best Workplaces for the second year in a row. Hitting newsstands May 18 in the May/June 2021 issue, and as part of a prominent Inc.com feature, the list is the result of a wide-ranging and comprehensive measurement of American companies that have created exceptional workplaces and company culture whether teams are operating in person or remotely.


Code42 is a cybersecurity company based in Minneapolis. Employee feedback on the Inc. Best Workplaces survey ranked Code42 highly for employee engagement, development opportunities and collaboration. Diversity, equity and inclusion are at the forefront of Code42’s operation, with strategies for broadening talent pools, curating safe spaces for underrepresented groups and leading conversations important to diversifying its employee base, perspectives and contributions to the community. The company has initiatives that enrich employee communities, invest in employee mind and body wellness, enable technical collaboration and business operations, advance progressive thinking and innovation and promote transparent communications across all levels of the organization.

Collecting data from thousands of submissions, Inc. singled out 429 honorees this year. Each nominated company took part in an employee survey, conducted by Quantum Workplace, on topics including management effectiveness, perks, and fostering employee growth. The organization’s benefits were also audited to determine the company’s overall score and ranking.

“Like many businesses, this past year challenged us to rethink how we create a work environment where top talent, regardless of race, gender or age, can thrive and stay connected while working virtually," said Joe Payne, Code42’s president and CEO. "At Code42, we believe in the relentless pursuit of better and leaving the world a better place. To that end, this past year we expanded our affinity and philanthropy programs and added new DE&I initiatives. These types of programs are helping our employees grow professionally and personally through diversity of thought and a greater understanding and sense of empathy for their peers and larger communities. Being honored for the second year in a row on Inc.’s esteemed list of Best Workplaces, based on our employees’ feedback, validates we are taking the right actions.”

“The definition of a positive workplace has changed drastically over the past year,” says Inc. magazine editor-in-chief Scott Omelianuk. “Stocked fridges and nap pods were no longer perks many companies could rely on once work went remote. So, this year’s list is even more important as it reveals organizations that continue to enrich the lives of its employees amid a pandemic.”

About Code42

Code42 is the Insider Risk Management leader. Native to the cloud, the Code42® Incyd solution rapidly detects data loss, leak, theft and sabotage as well as speeds incident response – all without lengthy deployments, complex policy management or blocking employee productivity. With Code42, security professionals can protect corporate data and reduce insider threats while fostering an open and collaborative culture for employees. Backed by security best practices and control requirements, Code42’s insider risk solution can be configured for GDPR, HIPAA, PCI and other regulatory frameworks.

More than 50,000 organizations worldwide, including the most recognized brands in business and education, rely on Code42 to safeguard their ideas. Founded in 2001, the company is headquartered in Minneapolis, Minnesota, and backed by Accel Partners, JMI Equity and Split Rock Partners. Code42 was recognized by Inc. magazine as one of America’s best workplaces in 2020. For more information, visit code42.com.

About Inc. Media

The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

About Quantum Workplace

Quantum Workplace, based in Omaha, Nebraska, is an HR technology company that serves organizations through employee-engagement surveys, action-planning tools, exit surveys, peer-to-peer recognition, performance evaluations, goal tracking, and leadership assessment. For more information, visit QuantumWorkplace.com.

© 2021 Code42 Software, Inc. All rights reserved. Code42, the Code42 logo and Incydr are registered trademarks or trademarks of Code42 Software, Inc. in the United States and/or other countries. All other marks are properties of their respective owners.


Contacts

Kristin McKenzie
Public Relations Principal, Code42
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844-333-4242

HOUSTON--(BUSINESS WIRE)--Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) (“Solaris”) announced today that its Board of Directors has declared a quarterly cash dividend of $0.105 per share of Class A common stock, to be paid on June 25, 2021 to holders of record as of June 15, 2021. A distribution of $0.105 per unit has also been approved for holders of units in Solaris Oilfield Infrastructure, LLC, which is subject to the same payment and record dates.

About Solaris Oilfield Infrastructure, Inc.

Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) provides mobile equipment that drives supply chain and execution efficiencies in the completion of oil and natural gas wells. Solaris’ patented mobile proppant and chemical systems are deployed in many of the most active oil and natural gas basins in the United States. Additional information is available on our website, www.solarisoilfield.com.


Contacts

Yvonne Fletcher
Senior Vice President, Finance and Investor Relations
(281) 501-3070
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CENTRAL ISLIP, N.Y.--(BUSINESS WIRE)--CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition systems and materials, today announced its first quarter 2021 financial results.


As a result of the COVID-19 pandemic, CVD’s new order bookings substantially decreased commencing in the first quarter of 2020, which reduced revenues in subsequent quarters, resulting in CVD first quarter 2021 revenue of $3.4 million as compared to $6.0 million in the (Pre COVID-19 pandemic) first quarter of 2020, a decrease of $2.6 million or 44.3%. This reduction in sales and resultant lower gross profit negatively affected CVD’s net income in the first quarter of 2021. Net loss for the first quarter 2021 was $1.5 million, or $0.23 per diluted share, as compared to a net income of $1.7 million or $.25 per diluted share in the first quarter of 2020. During the first quarter of 2020, CVD was favorably impacted by the CARES Act which allowed for the carryback of NOLS and resulted in CVD recognizing $1.5 million of an income tax benefit.

As compared to the fourth quarter 2020, CVD’s revenue in the first quarter of 2021 increased $.2 million, and the net loss decreased by $.2 million, as compared to the net loss in the fourth quarter of 2020 of $1.7 million (exclusive of the impairment charge of $3.6 million related to CVD’s Tantaline product line).

Thomas McNeill, Chief Financial Officer, said “In order to increase our liquidity and to provide necessary working capital to support our on-going business and operations, we have decided to sell our facility located at 555 North Research Place, Central Islip, NY, and on March 29, 2021 we entered into an agreement to sell this building for a purchase price of $24,360,000, subject to the satisfaction or waiver of certain conditions to closing or contingencies, which have now been satisfied. A portion of the sale proceeds would be used to satisfy the existing mortgage debt of approximately $9.2 million at March 31, 2021, and to pay various transaction-related costs in an amount to be determined. The excess proceeds will be used for general working capital purposes. On or about May 23, 2021, the buyer may advise us of any requirement to extend the closing date up to 60 days thereafter, which will also require an additional escrow amount of $1.2 million.

“The Company’s backlog at March 31, 2021 improved by $.3 million to $6.0 million, as compared to $5.7 million at December 31, 2020. Since the first quarter of 2020 the Company continues to experience significant negative effects due to the COVID-19 pandemic including reductions of new orders. The Company’s order activity has improved both in the quarter ended March 31, 2021 and into Q2 2021, and its longer term improvements are expected to be benefited by the anticipated slow recovery in the Aerospace markets which industry reports indicate improvements into 2022-2023.”

As previously announced, the Company’s majority of the Board of Directors proceeded to change the direction of the company. In late January under the leadership of the Company’s newly appointed President and Chief Executive Officer Emmanuel Lakios, the Company embarked on an evaluation of our business by market and product segments. This analysis is based on market growth, cash generation and over all return on investment, which confirmed that the equipment systems and production spares are the core elements of the Company’s business.

Mr. Lakios said, “As we exit 2020 a year of unchartered waters for the global economy due to the COVID-19 pandemic, we see signs of improvement in our served markets. Our largest served market, Aerospace, show signs of the start of a recovery with industry announcements indicating that long haul travel will increase starting in 2021 causing demand for increased airplane seat capacity in 2022. We believe this will directly impact our CVD equipment business. It is our intent to have a philosophy of customer focus and partnership with each customer. In this way we will have insight and the ability to add value in the cause of increasing our market presence in Aerospace, biomedical, and carbon-based products.

“We stated previously that our focus will be on utilizing our dedicated staff and 38 years of developed technology for increasing production end use applications, to provide more value and maturity of our products, bringing more support and value to our customers and the ability for improving our gross margins.

“With respect to our 555 Building, which we previously determined is not needed for present and future business operations, in April 2021 we have completed the move of our Tantaline USA product line to our 355 Building, while all functions of the Tantaline product line have been consolidated into the Denmark office and the United States expenses related to Tantaline have ceased. Our MesoScribe operations move has commenced and is expected to be completed by the end of June 2021.

“Our Tantaline product line, which was acquired in 2016, has been consolidated both operationally as well as sales management into our Denmark operations. Our evaluation is that the Denmark facility currently has ample production capacity and that our analysis that the USA Tantaline facility and operations were not required to serve the Tantaline market was correct. Our objective continues to have the Tantaline product line be cash neutral and to minimize any further investment requirement. We will continue to evaluate the viability of the Tantaline product line over the quarters to come.

“In the same process we continue to evaluate all the segments of our business for growth, profitability and cash generation. We look forward to our annual shareholder meeting in mid-July and we will continue to communicate on important developments in the meanwhile.”

The Company will hold a conference call to discuss its results today at 4:30 pm (Eastern Time). To participate in the live conference call, please dial toll free (877) 407-2991 or International (201) 389-0925. A telephone replay will be available for 7 days following the call. To access the replay, dial (877) 660-6853 or international (201) 612-7415. The replay passcode is 13719642. A live and archived webcast of the call is also available on the company’s website at www.cvdequipment.com/events.

About CVD Equipment Corporation

CVD Equipment Corporation (NASDAQ: CVV) designs, develops, and manufactures a broad range of chemical vapor deposition, gas control, and other state-of-the-art equipment and process solutions used to develop and manufacture materials and coatings for research and industrial applications. This equipment is used by its customers to research, design, and manufacture these materials or coatings for aerospace engine components, medical implants, semiconductors, solar cells, smart glass, carbon nanotubes, nanowires, LEDs, MEMS, and other applications. Through its application laboratory, the Company provides process development support and process startup assistance with the focus on enabling tomorrow’s technologies™. It’s wholly owned subsidiary CVD Materials Corporation provides advanced materials and metal surface treatments and coatings to serve demanding applications in the electronic, biomedical, petroleum, pharmaceutical, and many other industrial markets.

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by CVD Equipment Corporation) contains statements that are forward-looking. All statements other than statements of historical fact are hereby identified as “forward-looking statements, “as such term is defined in Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward looking information involves a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include, among other factors, market and business conditions, the COVID-19 pandemic, the success of CVD Equipment Corporation’s growth and sales strategies, the possibility of customer changes in delivery schedules, cancellation of, or failure to receive orders, potential delays in product shipments, delays in obtaining inventory parts from suppliers and failure to satisfy customer acceptance requirements. Past performance in not a guaranty of future results.

CVD EQUIPMENT CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statements of Operations

For the Three Months Ended March 31, 2021 and 2020

(In thousands)

 

Three Months Ended

2021

2020

Revenue

$3,366

$6,036

Gross profit

318

1,935

Operating expenses

1,937

1,827

Operating (loss) income

(1,619)

108

Net (loss) income

(1,506)

1,658

Diluted (loss) income per share

$ (0.23)

$ 0.25

 

CVD EQUIPMENT CORPORATION AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

As of March 31, 2021 and March 31, 2020

(In thousands)

 

2021

2020

Assets

Current Assets

Cash and cash equivalents

$5,929

$7,400

Accounts receivable, net

819

3,238

Contract assets

1,027

1,753

Inventories, net

1,340

1,691

Taxes Receivable

716

1,528

Other current assets

448

532

Assets held for sale

16,181

-

Total Current Assets

$26,460

$16,142

Property, plant and equipment, net

12,460

32,225

Other assets

285

427

Total Assets

$ 39,205

$ 48,794

 

Liabilities and Stockholders' Equity

Current Liabilities

$14,119

$5,897

Total Long-Term Liabilities

2,416

11,208

Total Stockholders’ Equity

22,670

31,689

Total Liabilities and Stockholders’ Equity

$39,205

$48,794

CVD earnings release should be read in conjunction with the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for fiscal year ended December 31, 2020


Contacts

Thomas McNeill
Phone: (631) 981-7081
Fax: (631) 981-7095
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

  • Breakthrough new segment vehicle to be jointly developed and sold under the Fisker brand into global markets including North America, Europe, China, and India.
  • Manufacturing to commence first in the United States with several locations under consideration by Fisker and Foxconn. Other global manufacturing sites under study for future production, supporting projected annual volumes of more than 250,000 units across multiple sites.
  • Program milestones already achieved including exterior design freeze. Program critical sourcing underway, including securing chipset and semiconductor contracts through Foxconn.
  • Project PEAR will enter the market with a starting price of less than $30,000, before incentives.

 



LOS ANGELES & TAIPEI, Taiwan--(BUSINESS WIRE)--#EVs--Fisker Inc. (NYSE: FSR) (Fisker) – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – today announced it has signed framework agreements with Hon Hai Technology Group (TWSE:2317) (Foxconn) supporting joint development and manufacturing related to Project ‘PEAR’ (Personal Electric Automotive Revolution), a program to develop a new breakthrough electric vehicle.

Under the agreements, Fisker and Foxconn will jointly invest into Project PEAR, with each company taking proceeds from the successful delivery of the program. Fisker will work with Foxconn on a new lightweight platform designated ‘FP28,’ leveraging technological expertise from each company to support Project PEAR and potential future vehicles.

“Our partnership with Foxconn and the creation of Project PEAR has taken shape with remarkable speed and clarity of vision,” commented Fisker Chairman and Chief Executive Officer, Henrik Fisker. “In order to deliver on our promise of product breakthroughs from Project PEAR, we needed to rethink every aspect of product development, sourcing, and manufacturing. Our partnership with Foxconn enables us to deliver those industry firsts at a price point that truly opens up electric mobility to the mass market.”

“Foxconn is excited that our partnership with Fisker continues to trend in the right direction with exciting speed,” said Foxconn Technology Group Chairman, Young-way Liu. “Our work with Fisker aligns with our corporate 3+3 platform, and thanks to our MIH Alliance, Foxconn will be able to work with suppliers from across the world for Project PEAR. We have world-class supply chains in place to support Project PEAR – in particular, securing the reliable delivery of chipsets and semiconductors."

In support of the work on Project PEAR, the two companies have established a co-located program management office between the U.S. and Taiwan to coordinate design, engineering, purchasing, and manufacturing operations. Following an extensive review of potential U.S. manufacturing sites, the two companies will expedite a manufacturing plan capable of supporting the projected Q4 2023 start of production. Fisker intends to start production in Europe on its first vehicle, the Ocean electric SUV, in Q4 2022 and will unveil a production-intent prototype of the vehicle at the Los Angeles Auto Show® later this year. Project PEAR will be the company’s second production model.

“At under $30,000 with stunning design and innovation, we are rethinking the car, both in terms of proportions, design, interior functionality and connected user experience. Project PEAR comes just a year after we launch the Ocean," added Mr. Fisker. “We see the tipping point for electric vehicles fast approaching and we are utterly focused on being ready to meet that demand. The Fisker brand will go beyond electrification, by taking the lead in design innovation and sustainability.”

For more information, or for interview inquiries, contact This email address is being protected from spambots. You need JavaScript enabled to view it..

About Fisker Inc.

California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world’s most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker’s social media channels: Facebook, Instagram, Twitter, YouTube and LinkedIn. Download the revolutionary new Fisker mobile app from the App Store or Google Play store.

About Foxconn Technology Group

Established in Taiwan in 1974, Hon Hai Technology Group (Foxconn) (2317: Taiwan) is the world’s largest electronics manufacturer. Foxconn is also the leading technological solution provider, and it continuously leverages its expertise in software and hardware to integrate its unique manufacturing systems with emerging technologies. To learn more, visit www.honhai.com

Forward-Looking Statements

This press release includes forward-looking statements, which are subject to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, the quotations of our Chief Executive Officer and statements regarding the Company's future performance and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: Fisker’s limited operating history; Fisker’s ability to enter into additional manufacturing and other contracts with Magna, or other OEMs or tier-one suppliers in order to execute on its business plan; the risk that OEM and supply partners do not meet agreed upon timelines or experience capacity constraints; Fisker may experience significant delays in the design, manufacture, regulatory approval, launch and financing of its vehicles; Fisker’s ability to execute its business model, including market acceptance of its planned products and services; Fisker’s inability to retain key personnel and to hire additional personnel; competition in the electric vehicle market; Fisker’s inability to develop a sales distribution network; and the ability to protect its intellectual property rights; and those factors discussed in Fisker’s Annual Report on Form 10-K under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”) and other reports and documents Fisker files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Fisker undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.


Contacts

Fisker Inc.
Simon Sproule, SVP, Communications
+1.310.374.6177 / This email address is being protected from spambots. You need JavaScript enabled to view it.

Dan Galves, VP, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
This email address is being protected from spambots. You need JavaScript enabled to view it.

Foxconn Technology Group
Jimmy Huang, Deputy Spokesperson, Corporate Communication
+866.2.2268.3466 / This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) announced today that Jonathan Stein, Chief Financial Officer, and Jennifer Gordon, Vice President, Investor Relations, will meet with investors on May 19-20, 2021 at the EIC Investor Conference.


A presentation has been posted in the “Investors” section of the Hess Midstream website at www.hessmidstream.com.

About Hess Midstream

Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. More information is available at www.hessmidstream.com.

Forward Looking Statements

This press release may include forward-looking statements within the meaning of the federal securities laws. Generally, the words “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “believe,” “intend,” “project,” “plan,” “predict,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results and current projections or expectations. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the filings made by Hess Midstream with the U.S. Securities and Exchange Commission, which are available to the public. Hess Midstream undertakes no obligation to, and does not intend to, update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.


Contacts

Investor:
Jennifer Gordon
(212) 536-8244

Media:
Robert Young
(713) 496-6076

TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior” or the “Corporation”) (TSX:SPB) held its annual general and special meeting of shareholders on May 12, 2021 virtually (the “Meeting”). Pursuant to the requirements of the Toronto Stock Exchange, Superior is issuing this news release to summarize the voting results in respect of the Meeting.


A total of 77,712,544 Common Shares of the Corporation and 30,002,837 Series 1 Special Voting Preferred Shares representing approximately 52.28% of the votes attached to all outstanding shares, were represented in person or by proxy at the Meeting.

The ten director nominees proposed by management were elected by ballot at the Meeting. Proxies and in person votes were received from holders of Common Shares and Series 1 Special Voting Preferred Shares (collectively, “Securityholders”) as follows:

Nominee

Votes For

Votes Withheld

 

Number

Percentage

Number

Percentage

Catherine M. Best

100,118,164

93.25

7,245,991

6.75

Eugene V.N. Bissell

106,987,534

99.65

376,621

0.35

Richard C. Bradeen

107,076,514

99.73

287,641

0.27

Luc Desjardins

105,121,575

97.91

2,242,580

2.09

Randall J. Findlay

98,445,025

91.69

8,919,130

8.31

Patrick E. Gottschalk

107,050,608

99.71

313,547

0.29

Douglas J. Harrison

107,029,326

99.69

334,829

0.31

Mary B. Jordan

103,917,283

96.79

3,446,872

3.21

Angelo R. Rufino

106,981,129

99.64

383,026

0.36

David P. Smith

99,225,493

92.42

8,138,662

7.58

Securityholders approved resolutions appointing Ernst & Young LLP as the Corporation's auditors and approved a non-binding advisory vote regarding the Corporation's approach to executive compensation with approximately 99.78% and 96.08% approval of the votes attached to all outstanding shares represented in person or by proxy at the Meeting, respectively.

In addition, holders of Common Shares approved the renewal of Corporation’s Shareholder Rights Plan with approximately 95.68% approval of the outstanding Common Shares represented in person or by proxy at the Meeting.

About the Corporation

Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada.

For further information about Superior, please visit our website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).


Contacts

Beth Summers,
Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
or
Rob Dorran
Vice President, Investor Relations and Treasurer
Tel: (416) 340-6003
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Toll Free: 1-866-490-PLUS (7587)

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