HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ: DXPE) on Friday, November 12, 2021, filed an 8-K with the SEC regarding its plans to transition to a new audit firm for the remainder of fiscal 2021 and for fiscal 2022. The Company determined that in order to timely complete its audit for 2021, rather than wait for its existing auditor to complete its review of the Q3 Form 10-Q before resigning, it would need to immediately replace its existing auditor so that the review of the Company’s Q3 Form 10-Q and its full year audit and review of its internal controls could be run in parallel. Management believes this will give it the best chance of completing its fiscal 2021 full year audit on time and facilitate a successful transition to a new accounting firm in fiscal 2022.

Given the unexpected nature surrounding the circumstances, how late it is in the year and the current squeeze on accounting firm resources in the marketplace, the Company made the decision to appoint McConnell & Jones LLP (“McConnell Jones”) given the firm’s willingness to devote substantial resources to the audit and the breadth, experience and ability to conduct an integrated audit. The Company made the decision to select McConnell Jones as its interim auditor until the Company could more fully review and facilitate an orderly transition during the first half of fiscal 2022. The Company appreciates the willingness of McConnell Jones to step in so late in the year. In choosing McConnell Jones, not only did they have the staffing resources, but they were more than qualified. The deep experience of the firm’s personnel, with roots in big four accounting firms and over thirty years in the business, makes them more than capable to review the Q3 Form 10-Q and complete the full year audit. As customary in an auditor transition, the Company will select an independent registered public accounting firm for fiscal 2022 appropriate for the size, scale and complexity of the Company.

Kent Yee, CFO remarked, “This plan and recent choices have been about the future of DXP and to align with our vision and plan for the finance and accounting function. When you are in a growth environment, change is constant, and you look for partners, solutions and situations that complement your growth. DXP is no different. While we would have preferred a more orderly or conventional transition, that was not applicable to these circumstances. As we have communicated in the recent past, DXP has always valued conservatism, accuracy and timeliness given the multiple stakeholders including customers, vendors, debt and equity investors, rating agencies and the like. We appreciate McConnell Jones and their willingness to dedicate resources over the short term to get our filings back on schedule as we build a bridge to an audit firm commensurate with our business and priorities.”

Gene Padgett, CAO added, “We will remain focused on continuous improvement and a raised bar as we transition to providers and resources that match DXP. Kent, Stephen (DXP’s controller) and I have always talked about aligning service providers and tools befitting of DXP. We are at that inflection point and look forward to our successful transition.”

Kent Yee, CFO concluded, “Our next step, is about aligning partners and the level of expertise and service that fits DXP’s size and evolution going forward. DXP’s business and financial health has never been stronger and as I have said in the past, this can get lost given the unfortunate noise surrounding our recent filings and the finance and accounting groups growth process. DXP has done a great job rebounding from COVID, successfully reduced DXP’s oil and gas exposure fueled by acquisitions (today less than thirty percent) and continued to invest in the business for go-forward improvement, scalability and performance as well as executing on our share repurchase program. This is the messaging that is important.”

About DXP Enterprises, Inc.

DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production ("MROP") services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP's breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to www.dxpe.com.

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 by or to be made by the Company) contains statements that are forward-looking. These forward-looking statements include without limitation those about the Company’s expectations regarding the impact of and recovery from the COVID-19 pandemic and the impact of low commodity prices of oil and gas; the Company’s business, the Company’s future profitability, cash flow, liquidity, and growth. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; decreases in oil and natural gas prices; decreases in oil and natural gas industry expenditure levels, which may result from decreased oil and natural gas prices or other factors; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, economic risks related to the impact of COVID-19, ability to manage changes and the continued health or availability of management personnel and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission. More information on these risks and other potential factors that could affect the Company’s business and financial results is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Kent Yee, 713-996-4700
Senior Vice President, CFO
www.dxpe.com

NEW YORK--(BUSINESS WIRE)--#BankofAmerica--Hess Corporation (NYSE: HES) announced today that John Hess, Chief Executive Officer, will speak at the Bank of America Securities 2021 Global Energy Conference on November 17, 2021 at 9:00 a.m. Eastern Time.

A live audio webcast and a replay of the presentation will be accessible via Hess Corporation’s website.

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/.

Cautionary Statements

This presentation will contain projections and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These projections and statements reflect the company’s current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that these projections will be achieved, and actual results could differ materially from those projected as a result of certain risk factors. A discussion of these risk factors is included in the company’s periodic reports filed with the Securities and Exchange Commission.

Investor contact:
Jay Wilson
(212) 536-8940
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Media contact:
Lorrie Hecker
(212) 536-8250
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DUBLIN--(BUSINESS WIRE)--The "Functional Safety Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Global Functional Safety Market is expected to register a CAGR of 8.3% during the period of 2021-2026.

Companies Mentioned

• Rockwell Automation Inc.
• Emerson Electric Company
• Honeywell International Inc.
• Yokogawa Electric Corporation
• ABB Ltd.
• Schneider Electric SE
• Siemens AG
• General Electric Company
• Omron Corporation
• SICK AG
• Panasonic Industry Europe GmbH (Panasonic Corporation)
• Pepperl+Fuchs
• Banner Engineering Corporation

Key Market Trends

Safety Sensors are Expected to Hold a Significant Share

• Safety Sensors are used for machine guarding/ personnel protection, for perimeter monitoring and body part protection, or to protect hazardous areas. These sensors detect the presence of humans within a specified area and reduce the possibility of accidents, which can be achieved through tripping function or presence detection.
• Stringent safety regulations by the government are driving the growth of safety sensors. For instance, the specifications and safety requirements posed by the safety associations are putting pressure on end-user industries to increase their safety investments further.
• For instance, the European Union (EU) strategic framework (2014-2020) for workplace health and safety integrates a series of actions to prevent occupational hazards. There is an intense concern over policies to reduce workplace accidents and enhance working conditions. Emphasis is placed on risk prevention and mitigation of the consequences of occupational hazards so that each member country of the European Union develops sustainably.
• Additionally, according to Safety Media, up to 1.3 million workers suffer from work-related illnesses. There are approximately 72,702 reported cases of employers experiencing non-fatal injuries, while 144 workers suffered from fatal ones. Depending upon the age of the employee, the same incident or accident is more likely to have a different impact on the employee. In the next few years, the population of workers aged over 55 and above is anticipated to increase considerably, drawing the attention of several organizations to automate their safety solutions.

United States Expected to Dominate the Market

• The United States is one of the largest markets for functional safety market globally. The country is renowned for its innovation capabilities and is at the forefront of prominent developments surrounding the emerging technologies of the Fourth Industrial Revolution. New-found shale resources in the United States and an increasing number of oil and gas projects are additional indicators of the market potential.
• Prominent vendors such as Honeywell, Rockwell, General Electric, and Banner Engineering Corp are headquartered in the country. In July 2020, Rockwell Automation announced a new family of safety controllers with key features to increase performance. The new SIL 3 controllers are an addition to Rockwell Automation's GuardLogix 5380 series.
• The government is also focusing on increasing its energy generation capacity, and the American government is investing in such projects. For instance, in July 2019, the US DOE (Department of Energy) announced the funding of USD 16 million for 14 tribal energy infrastructure deployment projects. And they also announced their plan to develop an environmental impact statement (EIS) to study the impacts of building a versatile nuclear test reactor in the United States.
• With the increasing stringency in the government regulations, the organization is concentrating on monitoring and controlling its carbon emission per product, which is expected to drive the demand for fire and gas monitoring systems in the country. There are currently over 20 major upcoming water treatment construction projects across the United States, each worth USD 5 billion on average.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Industry Attractiveness - Porter's Five Forces Analysis

4.3 Industry Value Chain Analysis

4.4 Market Drivers

4.4.1 Growing Standards of Industrial Safety

4.4.2 Increasing Adoption of Functional Safety Systems in a Wide Range of Industries

4.5 Market Restraints

4.5.1 Increasing Complexity Coupled with High Initial Costs and Maintenance Costs

4.6 Assessment of COVD-19 Impact on the Industry

5 MARKET SEGMENTATION

5.1 Device Type

5.2 Safety Systems

5.3 End-user Industry

5.4 Geography

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

7 INVESTMENT ANALYSIS

8 FUTURE OF THE MARKET

For more information about this report visit https://www.researchandmarkets.com/r/44hsd9

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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COLUMBUS, Ind.--(BUSINESS WIRE)--Today, Cummins Inc. (NYSE: CMI) announced that Steph Disher has been named Vice President – Cummins Filtration, effective November 15.

Disher began leading the Filtration business in August 2020, navigating the business during the global pandemic and related ongoing supply chain constraints. Through these challenges, the business consistently has delivered solid financial performance. Disher has led the business as Cummins explores strategic alternatives for it, a move that was announced as part the Company’s second quarter 2021 results.

“Steph has been asked to step into increasingly challenging roles that are critical to Cummins’ continued success because of her business acumen and commitment to creating environments that foster and further our values both inside and outside of Cummins,” said Jennifer Rumsey, President and Chief Operating Officer. “She truly is a champion of our mission, vision and values, and her leadership, strategic mindset and caring nature have been incredibly important for all Filtration employees and the future opportunities for the business.”

Disher entered Cummins as Director of Finance for the South Pacific region in Australia in 2013. Her leadership capability was quickly recognized, and she was asked to serve as the Director of Operations for the region and then Managing Director – South Pacific in 2017. During her tenure, the business achieved record growth in revenue and profitability in 2019.

Disher has been active in Cummins’ communities, sponsoring the TEC: Technical Education for Communities program in Australia, launching the PRIDE employee resource group in the South Pacific and advocating for the power of diverse teams through her involvement with the Women’s Empowerment network.

Prior to her career with Cummins, Steph excelled in roles across strategy, human resources and finance while working for BP, and as a director with Norman Disney & Young.

Disher earned a bachelor’s degree in Commerce from the University of Western Sydney and a Master of Business Administration from University of Melbourne (Australia). She lives in Nashville, Tennessee (USA), with her husband, Brad, and their three daughters.

About Cummins Inc.

Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 57,800 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $1.8 billion on sales of $19.8 billion in 2020. Learn more at cummins.com.

Jon Mills
Director, External Communications
317-658-4540
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HOUSTON--(BUSINESS WIRE)--A select group of leading companies that market and trade natural gas in North America has formed and invested in a new, independent company, Eleox. The initial participants in this joint venture – the first of its kind in North America – include bp, Castleton Commodities International LLC (CCI), Koch Energy, Macquarie Group, Mercuria Energy America, and Shell Energy North America (US), L.P.

Eleox will re-imagine commodity post-trade processing through the creation of an enterprise-grade application based on distributed ledger technology (DLT) to replace many existing, siloed post-trade systems with a unified, full lifecycle platform.

This secure, real-time digital approach is being created to manage transactions from post-trade through settlements, replacing paper-based contracts and manual reconciliation processes, and will initially focus on enhancing the post-trade process for North American physical natural gas. The enhanced settlement processing platform will result in:

• Increased transparency and accountability while maintaining data security using distributed ledger technology;
• A single source of truth throughout the trade life cycle; and
• Fewer data errors, fewer mismatches, and less manual reconciliation, minimizing delays in transaction settlements

The platform will be designed by Eleox and tested by its founding members, which will constitute a key segment of its projected user base and is expected to be available for use by all market participants in late 2022.

“We are excited by Eleox’s roadmap, which offers countless opportunities to improve post-trade processing,” said Eleox CEO Kirk Coburn. “Advances in technology mean we can digitize energy trading in the same way we have seen so many other sectors transform, and our platform will help customers optimize the post-trade process, today and tomorrow.”

“The support of these industry leaders demonstrates both the scale of the challenges facing energy trading companies today, and the resolve from market participants to address them with technology to create a more efficient and secure energy sector,” Coburn said.

To learn more, visit Eleox.com.

Rachel Palmour
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202-967-8091

TORONTO--(BUSINESS WIRE)--$NETZ #NETZ--Carbon Streaming Corporation (“Carbon Streaming” or the “Company”) today held its annual general meeting of shareholders (the “Meeting”), where each of the seven nominees proposed as directors and listed in the Company’s management proxy circular dated September 30, 2021 were elected as directors. A total of 38,610,077 common shares were voted in respect of the election of directors at the Meeting, representing approximately 30.61% of the votes attached to all outstanding common shares.

The detailed results of the vote are set out below:

At the Meeting, the shareholders of the Company also approved: (i) the appointment of Baker Tilly WM LLP as auditor and authorized the directors to fix their remuneration; (ii) the Company’s omnibus long-term incentive plan; and (iii) the amendment and restatement of the Company’s articles.

For complete voting results on all matters approved at the Meeting, please see the Company’s Report of Voting Results dated November 12, 2021 available on SEDAR at www.sedar.com.

About Carbon Streaming Corporation:

Carbon Streaming is a unique ESG principled investment vehicle offering investors exposure to carbon credits, a key instrument used by both governments and corporations to achieve their carbon neutral and net-zero climate goals. Our business model is focused on acquiring, managing and growing a high-quality and diversified portfolio of investments in projects and/or companies that generate or are actively involved, directly or indirectly, with voluntary and/or compliance carbon credits.

The Company invests capital through carbon credit streaming arrangements with project developers and owners to accelerate the creation of carbon offset projects by bringing capital to projects that might not otherwise be developed. Many of these projects will have significant social and economic co-benefits in addition to their carbon reduction or removal potential.

To receive corporate updates via e-mail as soon as they are published, please subscribe here.

ON BEHALF OF THE COMPANY:

Justin Cochrane, Chief Executive Officer
Tel: 647.846.7765
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www.carbonstreaming.com

BERLIN--(BUSINESS WIRE)--Accenture (NYSE: ACN) has acquired T.A. Cook, a consultancy specializing in asset performance management and capital projects for clients in capital-intensive industries and infrastructure. The acquisition will strengthen Accenture’s capabilities for improving asset performance, increasing safety, and reducing environmental impact and cost in the chemicals, life sciences, metals and mining, and oil and gas industries. Financial terms were not disclosed.

T.A. Cook provides services in data-driven maintenance, operations and asset life cycle management including a proprietary as-a-service reliability solution. Its asset performance management capabilities, which have been repeatedly recognized by industry analysts, are designed to help companies increase profitability by lowering operating costs while boosting plant utilization. Its capital projects skills support clients looking to increase capacity and reduce cost through large investments in manufacturing plants and technology.

Founded in 1994, T.A. Cook is headquartered in Berlin, Germany, and has additional offices in Canada, Hong Kong and the United States. The company brings a team of 130 consultants, engineers, and development coaches. They will join Accenture’s Industry X group, strengthening its services for digitizing clients’ engineering functions, asset performance management, factory floors, project management office services and plant operations.

“To remain competitive in today’s environment, our clients are seeking to become more resilient, sustainable and profitable,” said Nigel Stacey, global lead for Accenture Industry X. “A powerful lever to achieve this is embedding intelligence in critical production assets. With T.A. Cook, we continue to grow our intelligent asset management capabilities that help clients automate processes, build predictive maintenance capabilities, reduce waste, increase utilization and, ultimately, redefine how they operate plants and factories for sustainable growth.”

Christina Raab, market unit lead for Accenture in Germany, Austria, Switzerland and Russia, added, “Asset-heavy companies need to drive efficiency, flexibility and safety to thrive at a time of growing economic, environmental and regulatory pressures. T.A. Cook’s digital track record, expertise and highly skilled team will enhance the solutions and capabilities that our clients require to transform their operations and boost growth.”

Frank Uwe Hess, co-founder of T.A. Cook, said, “We’re excited for the opportunity to scale our change management capabilities and utilize technological and process knowledge across Accenture’s global network, while expanding our combined digital manufacturing and operations offerings to even more clients.”

T.A. Cook is the latest in a series of 26 acquisitions Accenture has made since 2017 to build its Industry X capabilities. In October, it bought Advoco, a large US-based systems integrator for Hexagon’s Infor EAM solutions, which will scale Accenture’s capabilities for intelligent asset management solutions. Other recent acquisitions include international engineering consulting and services firm umlaut, operations technology provider Electro 80 (Australia), industrial robotics and automation services provider Pollux (Brazil), operations consultancy Myrtle (US) and technology consultancy SALT Solutions (Germany).

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 624,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.

Accenture Industry X embeds intelligence in how clients run factories and plants, as well as design and engineer connected products and services—making manufacturing and operations more efficient, effective and safe; enabling companies to transform how they make things, and the things they make, for sustainable growth.

Forward-Looking Statements

Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook” and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; the COVID-19 pandemic has impacted Accenture’s business and operations, and the extent to which it will continue to do so and its impact on the company’s future financial results are uncertain; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture’s business depends on generating and maintaining ongoing, profitable client demand for the company’s services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; if Accenture is unable to keep its supply of skills and resources in balance with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; if Accenture does not successfully manage and develop its relationships with key alliance partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture’s profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; Accenture might be unable to access additional capital on favorable terms or at all and if the company raises equity capital, it may dilute its shareholders’ ownership interest in the company; as a result of Accenture’s geographically diverse operations and its growth strategy to continue to expand in its key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.

Copyright © 2021 Accenture. All rights reserved. Accenture and its logo are registered trademarks of Accenture.

Jens R. Derksen
Accenture Industry X
+49 175 5761393
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Yvonne Bernerth
Accenture
+49 6173 94 67561
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AUSTIN, Texas--(BUSINESS WIRE)--USA Compression Partners, LP (NYSE: USAC) (“USA Compression”) today announced that its senior management will participate in the RBC Capital Markets Midstream and Energy Infrastructure Conference. Senior management expects to participate in a series of meetings with members of the investment community on November 16, and presentation materials used during these meetings will be posted to USA Compression’s website prior to the investor meetings. Please visit the Investor Relations section of the website at usacompression.com under “Presentations.”

About USA Compression Partners, LP

USA Compression Partners, LP is a growth-oriented Delaware limited partnership that is one of the nation’s largest independent providers of natural gas compression services in terms of total compression fleet horsepower. USA Compression partners with a broad customer base composed of producers, processors, gatherers and transporters of natural gas and crude oil. USA Compression focuses on providing natural gas compression services to infrastructure applications primarily in high-volume gathering systems, processing facilities and transportation applications. More information is available at usacompression.com.

USA Compression Partners, LP
Matthew Liuzzi, CFO
(512) 369-1624
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CAMDEN, N.J.--(BUSINESS WIRE)--American Home Solutions, part of American Water’s Homeowner Services Group, announced today it has entered into an agreement with ONE Gas, one of the largest, 100% regulated natural gas utilities in the U.S., to provide optional home warranty protection programs to homeowners and renters in Texas and Oklahoma.

“We are thrilled to partner with ONE Gas to provide homeowners and renters an affordable and reliable solution specifically tailored to shield customers from the costs of unexpected home repairs,” said Eric Palm, President, Homeowner Services Group. “Most standard homeowners’ insurance policies typically do not cover repairs from normal wear and tear on service lines or home systems. This is where we step in – American Home Solutions offers peace of mind protection and first-class customer service.”

Through the agreement, affordable home warranty protection programs will be offered to customers of Texas Gas Service and Oklahoma Natural Gas, divisions of ONE Gas. Providing peace-of-mind protection from expenses and hassles that arise from unexpected repairs to utility service lines and HVAC systems in their home.

“Our partnership with American Home Solutions aims to protect customers in the Texas and Oklahoma markets from unexpected repair costs to vital lines,” said Chris Sighinolfi, Vice President, ONE Gas. “Saving our customers from the hassle and time when issues arise, is one of the great benefits of working with this well-respected home solutions provider.”

Educational resources about these programs will be arriving to eligible homeowners and renters in the mail. To learn more about the American Home Solutions and ONE Gas agreement and product offerings, visit: yourhomesolutions.com/ONE-Gas.

About American Home Solutions

Pivotal Home Solutions does business as American Home Solutions in select markets. Pivotal Home Solutions has an A+ rating from the Better Business Bureau and is part of American Water’s Homeowner Services Group, protecting homeowners from top to bottom, inside and out, including outside water and sewer lines, plumbing and electrical systems, HVAC maintenance and installation, and appliance repairs. For more information, visit Pivotal Home Solutions at yourhomesolutions.com.

About ONE Gas

ONE Gas, Inc. (NYSE: OGS) is a 100-percent regulated natural gas utility, and trades on the New York Stock Exchange under the symbol "OGS." ONE Gas is included in the S&P MidCap 400 Index and is one of the largest natural gas utilities in the United States.

Headquartered in Tulsa, Oklahoma, ONE Gas provides a reliable and affordable energy choice to more than 2.2 million customers in Kansas, Oklahoma and Texas. Its divisions include Kansas Gas Service, the largest natural gas distributor in Kansas; Oklahoma Natural Gas, the largest in Oklahoma; and Texas Gas Service, the third largest in Texas, in terms of customers.

For more information and the latest news about ONE Gas, visit onegas.com and follow its social channels: @ONEGas, Facebook, LinkedIn and YouTube.

Media Contacts:

Alicia Barbieri
Corporate Communications Manager
American Water
856-676-8103
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Christy Penders
Public Relations Manager
Texas Gas Service
512-791-3450
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Liza Steger
Public Relations Manager
Oklahoma Natural Gas
918-313-6730
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More Than 1,300 Weather Stations Provide Detailed Meteorological Data Year- Round

SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) announced today that it has surpassed its 2021 goal of installing 300 weather stations two months ahead of schedule and completed its long-term goal of installing more than 1,300 total, one station for every 20-line miles in high fire-threat areas, across its service territory. As we head into winter and look to continue rainy and wet conditions throughout Northern California, these weather stations are utilized year-round and will help to further improve weather forecasting capabilities.

Data captured by the weather stations such as temperature, wind speed and humidity levels help PG&E meteorologists evaluate where severe weather may be headed and inform utility operational planning. PG&E’s weather stations now provide the company with one weather station for every 20-line miles of electric distribution circuits within Tier 2 and Tier 3 High Fire-Threat Districts, as designated by the California Public Utilities Commission.

“Since 2018 we have installed more than 1,300 weather stations to build one of the largest utility-owned weather stations networks in the world allowing us to track temperature, wind speed and humidity in real-time to better serve our customers and communities,” said Scott Strenfel, PG&E Director of Meteorology and Fire Science. “These weather stations help us to better monitor and forecast severe weather threats and inform our operational decisions.”

These more than 1,300 weather stations across PG&E's service territory are now sending hyperlocal data not only to PG&E meteorologists, but also to analysts and experts in PG&E's Wildfire Safety Operations Center (WSOC). The WSOC is the hub where PG&E detects, evaluates, monitors, and responds to wildfire threats across its service area.

The information from these stations is also viewable by the public at pge.com/weather and is combined with other weather station information and shared with partners through MesoWest.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit www.pge.com/ and http://www.pge.com/about/newsroom/.

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NEUILLY-SUR-SEINE, France--(BUSINESS WIRE)--Bureau Veritas (Paris:BVI), a world leader in testing, inspection and certification is ranked #1 in the Professional Services Industry category - encompassing the TIC sector - of the 2021 Dow Jones Sustainability Indices (DJSI) Corporate Sustainability Assessment rankings.

The Group achieved a score of 85/100 compared to an industry average of 34/100. Its assessment results range from 85 to 86 in the three criteria: Governance & Economic, Environmental and Social.

Didier Michaud-Daniel, Chief Executive Officer of Bureau Veritas, commented:

“We are proud to rank first in our professional category, and count among the world’s sustainability top-performing companies in the DJSI. This recognition reflects Bureau Veritas’ continuous efforts to be a role model in the industry in terms of Sustainability, particularly regarding environmental, social and good governance issues. It illustrates the engagement of our 78,000 Trust Makers, throughout all levels of the company, in contributing to having a positive impact on people and the planet.”

Manjit Jus, Global Head of ESG Research, S&P Global, added:

"We congratulate Bureau Veritas for being included in the Dow Jones Sustainability Index (DJSI) World. A DJSI distinction is a reflection of being a sustainability leader in your industry. The record number of companies participating in the 2021 S&P Global Corporate Sustainability Assessment is testament to the growing movement for ESG disclosure and transparency."

The DJSI are float-adjusted market capitalization weighted indices that measure the performance of companies selected using environmental, social and governance (ESG) criteria.

The DJSI, including the Dow Jones Sustainability World Index (DJSI World), were launched in 1999 as the pioneering series of global sustainability benchmarks available in the market. The index family comprises of global, regional and country benchmarks.

Being named the most responsible company in its industry category, while contending with 43 other companies, is recognition of Bureau Veritas’ commitment to be exemplary in terms of sustainability internally while offering a wide range of sustainability services and solutions through its BV Green Line.

About Bureau Veritas
Bureau Veritas is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has more than 78,000 employees located in more than 1,600 offices and laboratories around the globe. Bureau Veritas helps its 400,000 clients improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.
Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index.
Compartment A, ISIN code FR 0006174348, stock symbol: BVI.
For more information, visit www.bureauveritas.com, and follow us on Twitter (@bureauveritas) and LinkedIn.

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The orders cement ACIA’s commitment to leading the decarbonization of regional aviation

LOS ANGELES & DUBLIN--(BUSINESS WIRE)--#aerospace--Universal Hydrogen Co., the company leading the fight to decarbonize aviation through the adoption of hydrogen as a universal fuel, today announced it has signed a letter of intent (LOI) with ACIA Aero Leasing (ACIA), a leading regional aircraft lessor with offices in Ireland, France, Canada, Mauritius, and South Africa. ACIA expects to place 10 firm orders for Universal Hydrogen’s ATR 72 conversion kits with additional purchase rights for 20 more conversion kits of various turboprop types.

As an emerging leader in regional aircraft leasing, ACIA is focusing on long-term sustainability in aviation by working with Universal Hydrogen to decarbonize its fleet of turboprop aircraft. Following the aircraft conversions, Universal Hydrogen and ACIA will collaborate on marketing hydrogen fuel services to ACIA’s leasing customers. Universal Hydrogen will deliver green hydrogen to regional airports worldwide using its modular capsule technology to transport hydrogen over the existing intermodal freight network and using existing airport cargo handling equipment.

“ACIA’s diverse customer base allows us to have a major decarbonization impact on regional aviation globally,” said Paul Eremenko, Universal Hydrogen co-founder and CEO. “ACIA’s passenger and cargo aircraft leasing customers will be able to move to true zero emissions operations as early as the mid 2020s, putting them in the vanguard of clean aviation.”

“Our lessees are actively looking for ways to decrease overall costs and reduce their carbon footprint. Decarbonizing our fleet encourages customers and competitors to follow our lead in advancing the development of carbon-free solutions,” said Mick Mooney, ACIA’s CEO. “Collaborating with Universal Hydrogen will have a lasting impact on the environment encouraging our customers and the communities they touch, to increase efforts towards environmental sustainability.”

“Passengers and operators are increasingly seeing environmental sustainability as an important decision factor in the aviation industry,” said Sameer Adam, ACIA’s SVP Commercial. “Fleet expansion, new market engagements, and the development of our leasing portfolio will need to include a plan for adopting carbon-free and sustainable technologies. This engagement with Universal Hydrogen is just the first major milestone in executing our overall sustainability strategy.”

About Universal Hydrogen

Universal Hydrogen is making hydrogen-powered commercial flight a near-term reality. The company takes a flexible, scalable, and capital-light approach to hydrogen logistics by transporting it in modular capsules over the existing freight network from green production sites to airports around the world. To accelerate market adoption, Universal Hydrogen is also developing a conversion kit to retrofit existing regional airplanes with a hydrogen-electric powertrain compatible with its modular capsule technology.

About ACIA Aero Leasing

ACIA Aero Leasing (“ACIA”), a subsidiary of ACIA Aero Capital, is a leading regional aircraft lessor headquartered in Dublin, Ireland, and with offices in France, Canada, Mauritius, and South Africa. ACIA manages a current aircraft portfolio of over 50 regional passenger and freighter aircraft on lease to operators in more than 18 countries globally. Through our strategic partnerships, ACIA provides airlines with turn-key leasing solutions from dry leasing through to charter operations.

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Global software leader dedicated to the energy industry exhibiting in the Digitalization Zone at booth #13593

HOUSTON--(BUSINESS WIRE)--Quorum Software (Quorum), the global software leader dedicated to the energy industry, will be attending the Abu Dhabi International Petroleum and Exhibition Conference (ADIPEC) 2021. ADIPEC is one of the world’s largest oil and gas events, where international leaders convene in the Middle East to engage and identify opportunities in an evolving energy landscape. Quorum will exhibit its cloud-first software that connects people and information with business workflows across the global energy ecosystem in the Digitalization Zone at booth #13593.

“This year brought unprecedented growth for Quorum globally,” said Kaare Lunde, Executive Vice President at Quorum Software and leader of the international oil and gas business unit Quorum recently acquired from TietoEVRY. “Quorum remains committed to driving value for energy companies in the Middle East and throughout the world,” continued Lunde. “We look forward to connecting with policymakers, industry leaders and professionals at ADIPEC 2021 to address the most pressing issues facing the energy sector.”

Earlier this year, Quorum merged with Aucerna, a global provider of integrated planning, execution, and reserves software for the energy industry. Operating as Quorum Software, the combined company recently acquired TietoEVRY’s Oil and Gas software business, including flagship solutions Energy Components and DaWinci. Together, the company now serves more than 1,800 energy customers across 55 countries.

ADIPEC 2021 is the inaugural event that introduces Quorum’s combined capabilities to the global energy market. Solution experts from Quorum will provide software demonstrations in the Digitalization Zone and meet with ADIPEC participants to solve their digital transformation challenges.

To learn more about Quorum, visit quorumsoftware.com.

About Quorum Software

Quorum Software connects people and information across the energy value chain. Twenty years ago, we built the first software for gas plant accountants. Pipeline operators came next, followed by land administrators, pumpers, and planners. Since 1998, Quorum has helped thousands of energy workers with business workflows that optimize profitability and growth. Our vision for the future connects the global energy ecosystem through cloud-first software, data standards, and integration. The trusted source of decision-ready data for 1,800+ companies, Quorum Software makes the essential connections that let us work better together in the connected energy workplace. For more information, visit quorumsoftware.com.

Adam Cormier
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617.502.4384

DUBLIN--(BUSINESS WIRE)--The "Bioethanol Yeast Market Size, Share & Trends Analysis Report By Product Type (Baker's, Brewer's), By Application (Cleaning & Disinfection, Biofuel), By Region (North America, MEA), And Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.

The global bioethanol yeast market size is expected to reach USD 32.67 billion by 2028, registering a CAGR of 14.04% over the forecast period. The market is driven by the rising awareness about sustainable alternatives over petrochemical feedstock, such as biofuels, coupled with the rapidly expanding food and beverages industry.

There is a rising demand for bioethanol yeasts-based disinfection and sanitation products at present owing to the surging requirement to improve hygiene in hospitals, offices, and other public places to inhibit the spread of the infectious COVID-19 disease among staff and patients. The market is also driven by the rising awareness among people about personal hygiene. Furthermore, governments in Europe and North America have implemented stringent regulations for the use of chemical-based formulations, which is expected to boost the product demand, thereby supporting market growth.

However, the product cost is majorly dependent on raw material prices. The costs associated with the procurement of raw materials directly influence the overall cost of bioethanol yeast production. The prices of feedstock, such as corn, gasoline, crude oil, wheat, and soybean oil, are the major factors affecting the product costs. The supply-demand dynamics of the global market are expected to fluctuate owing to the rising demand and shortage of supply. The product is application-specific, which prompts companies to majorly adopt value-based pricing. Bioethanol yeast is composed of similar materials but with different areas of application, it needs to be treated differently as it provides an opportunity for manufacturers to increase their margins without increasing their production costs.

Moreover, the growth of the bakery sector in Europe, especially in Germany, as the country is the largest consumer of rolls and bread in the world, is anticipated to positively impact the product demand over the forecast period. In terms of supply and demand at a global level, manufacturers are inclined toward raw material procurement as the key raw materials used in product manufacturing are crop residues. These products are already in a state of oversupply, they also attract demand from other markets, such as biofuel and biogas generation, which negates the overcapacity of raw material availability.

Bioethanol Yeast Market Report Highlights

• In terms of volume, the baker's yeast product segment accounted for a prominent share in the market in 2020 and is expected to witness steady growth over the forecast period
• The cleaning & disinfection segment is projected to register the fastest CAGR over the forecast period due to the increasing cleaning and disinfection activities amid the COVID-19 pandemic
• In 2020, North America accounted for the highest revenue share of the global market due to increased focus on biofuel production coupled with household hygiene practices
• Increasing mergers & acquisitions and new product development activities by key industry participants are anticipated to pave way for higher product demand worldwide

Companies Mentioned

• Novozymes
• Associated British Foods Plc
• Angelyeast Co., Ltd.
• DSM
• Lallemand Inc.
• Leiber GmbH
• Lesaffre
• Foodchem International Corporation
• Biorigin
• Synergy Flavors
• Ab Mauri
• Omega Yeast Labs, LLC.
• Pak Holding
• Cargill, Incorporated
• lto Ingredients, Inc.
• Chr. Hansen Holding A/S
• Oriental Yeast Co., Ltd.

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Bioethanol Yeast Market: Market Variables, Trends & Scope

3.1 Market lineage outlook

3.1.1 Global bioethanol market outlook

3.1.2 Global bioethanol yeast market outlook

3.2 Penetration & growth prospect mapping

3.3 Industry value chain analysis

3.3.1 Raw material trends

3.3.2 Manufacturing trends

3.3.3 Price trend analysis

3.4 Regulatory framework

3.5 Market dynamics

3.5.1 Market driver analysis

3.5.1.1 Growing demand for bakery products

3.5.1.2 Changing consumer preferences

3.5.2 Market restraint analysis

3.5.2.1 Low profit margins from refineries

3.5.3 Industry challenges

3.6 Impact of COVID-19

3.7 Business environment analysis: bioethanol yeast market

Chapter 4 Bioethanol Yeast Market: Product Type Estimates & Trend Analysis

4.1 Bioethanol yeast type movement analysis & market share, 2020 & 2028 (Kilotons) (USD Million)

4.2 Baker's Yeast

4.3 Brewer's Yeast

Chapter 5 Bioethanol Yeast Market: Application Estimates & Trend Analysis

5.1 Bioethanol yeast application movement analysis & market share, 2020 & 2028 (Kilotons) (USD Million)

5.2 Food

5.3 Animal Feed

5.4 Biofuel

5.5 Cleaning & Disinfection

5.6 Other Applications

Chapter 6 Regional Estimates & Trend Analysis

6.1 Regional movement analysis & market share, 2020 & 2028 (Kilotons) (USD Million)

6.2 Bioethanol yeast market size & forecasts and trend analysis, by regional, 2017 - 2028 (Kilotons) (USD Million)

6.2.1 North America

6.2.2 Europe

6.2.3 Asia Pacific

6.2.4 Central & South America

6.2.5 Middle East & Africa

Chapter 7 Competitive Landscape

7.1 Recent developments & impact analysis, by key market participants

7.2 Company/competition categorization (key innovators, market leaders, emerging players)

7.3 Vendor landscape

7.4 Strategic framework

Chapter 8 Company Profiles

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

ResearchAndMarkets.com
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PARIS--(BUSINESS WIRE)--Regulatory News:

Technip Energies (PARIS:TE) (ISIN:NL0014559478) and PETRONAS have signed a Heads of Agreement (HOA) establishing a strategic collaboration framework for the further development and commercialization of carbon capture technologies.

These include PETRONAS’ Rotating Pack Bed assisted cryogenic CO₂ recovery technology (CryoMin), and membrane based CO₂ recovery technology (PN2).

Technip Energies and PETRONAS are committed to accelerating the transition to a net-zero carbon future through increasing innovation and fostering active technology collaborations.

Both companies will work together on furthering the development of carbon capture technologies as well as the associated services and equipment, in order to help operators reduce their assets’ carbon emissions in a sustainable manner.

Arnaud Pieton, CEO of Technip Energies, commented: “Collaboration is vital across the industry to accelerate energy transition. We are proud to have signed this strategic partnership with PETRONAS, a long-standing client and partner which has in the past entrusted Technip Energies to design and deliver some of its most iconic assets. This new partnership extends our historical collaboration with PETRONAS into technology development within energy transition, calling on Technip Energies’ extensive capabilities on decarbonization technologies. It will generate unique synergies by combining Technip Energies’ and PETRONAS’ respective experiences in the development of essential technologies for the capture and management of CO₂. I trust that the technologies that we will co-develop and commercialize will serve the decarbonization efforts of PETRONAS and other clients extensively.”

Bacho Pilong, Senior Vice President of Project Delivery and Technology at PETRONAS, said: “PETRONAS leverages on innovations in a holistic approach towards its Net Zero Carbon Emissions 2050 aspiration and has identified carbon capture, utilization and storage (CCUS) technologies among core enablers towards achieving the ambition. We are excited about the many possibilities to be created under this collaboration between two companies equally passionate about advancing technologies that will mutually progress our sustainability agenda.
We also hope our synergy and the ensuing successes will spur similar partnerships that meet the triple bottom lines of profit, people and the planet for a better tomorrow”.

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO₂ management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.technipenergies.com.

About Petroliam Nasional Berhad (PETRONAS)

We are a dynamic global energy group with presence in over 50 countries. We produce and deliver energy and solutions that power society’s progress in a responsible and sustainable manner.

We seek energy potential across the globe, optimising value through our integrated business model. Our portfolio includes cleaner conventional and renewable resources and a ready range of advanced products and adaptive solutions.

Sustainability is at the core of what we do as we harness the good in energy to elevate and enrich lives. People are our strength and partners for growth, driving our passion for innovation to progress towards the future of energy sustainability.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.

All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

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• Third quarter revenue grew to $3.6 million, up $2.0 million over the prior-year period and up $163 thousand sequentially
• North America revenue was up 172% and International revenue increased 22% over prior-year period on greater market penetration and improving market conditions
• Achieved break-even earnings per diluted share with net loss of $6 thousand compared with net loss of $1.7 million
• Adjusted EBITDA* was $853 thousand or 23.9% as a percent of revenue
• Strengthened balance sheet subsequent to quarter end with $1.7 million of net proceeds from offering

*Adjusted EBITDA is a non-GAAP measure. See comments regarding the use of non-GAAP measures and the reconciliation of GAAP to non-GAAP measures in the tables of this release

VERNAL, Utah--(BUSINESS WIRE)--Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or the “Company”), a designer and manufacturer of drilling tool technologies, today reported financial results for the third quarter of 2021 ended September 30, 2021.

Troy Meier, Chairman and CEO, commented, “Demand for our tools and services is strong and we are working hard to meet our customers’ requirements. We are confident in the value our flagship Drill-N-Ream® well bore conditioning tool brings to the oil & gas production industry. Importantly, our engineering expertise and manufacturing skills are in demand. We are addressing new opportunities to manufacture drilling tools to meet the rising demand and challenging technical requirements of polycrystalline diamond cutters. We believe technical knowledge of drilling technologies, operational strengths and ability to meet demand provide us competitive advantages in these challenging times of severe supply chain constraints and labor shortages.”

Third Quarter 2021 Review ($ in thousands, except per share amounts) (See at “Definitions” the composition of product/service revenue categories.)

Revenue increased sequentially $163 thousand, or 5%, and $2.0 million, or 130%, year-over-year. Improvements over both periods reflects higher demand as oil and gas production markets continued to improve and as the Company gains greater market presence.

For the third quarter 2021, approximately 85% of revenue was from North America and approximately 15% from International markets, all within the Middle East. Revenue in North America grew year-over-year from increased tool sales and rentals as well as higher royalty and repair fees. International revenue growth reflects growing market penetration including increased demand from a new International customer gained in the second quarter. Contract Services revenue improved sequentially and year-over-year, reflecting higher demand for both new drilling tools and refurbishments.

Third Quarter 2021 Operating Costs

Higher costs associated with International sales impacted the cost of revenue. Nonetheless, strong operating leverage from higher volume and continued effective management of costs resulted in a measurable improvement of operating income to $163 thousand, or 4.6% of sales.

Improved operating income and lower tax expense resulted in breakeven results with a net loss of $6 thousand. The decrease in income tax expense from the prior year was due to a decrease in income in foreign jurisdictions. Adjusted EBITDA⁽¹⁾ improved year-over-year to $853 thousand as a result of increased sales and operating leverage gained from higher volume, while Adjusted EBITDA margin expanded to 23.9%.

The Company believes that when used in conjunction with measures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), Adjusted EBITDA, which is a non-GAAP measure, helps in the understanding of its operating performance.

Balance Sheet and Liquidity

Cash at the end of the quarter was $2.5 million, up $508 thousand from the end of 2020. Cash provided by operations in the nine months ended September 30, 2021 was $878 thousand. Long-term debt, including the current portion, at quarter-end was $2.6 million, which reflects a principal payment of $750 thousand made on the Hard Rock note during the period. The remaining $750 thousand of principal due on the note is payable on October 5, 2022.

Subsequent to quarter-end, in October 2021, the Company completed an equity offering of 1,739,131 shares of common stock at a price of $1.15 per share. This resulted in net proceeds of approximately $1.7 million to be used for general corporate purposes, which may include capital expenditures, repayment or refinancing of indebtedness, acquisition and repurchases or redemptions of securities.

Definitions and Composition of Product/Service Revenue:

Contract Services Revenue is comprised of repair and manufacturing services for drill bits and other tools or products for customers.

Other Related Tool Revenue is comprised of royalties and fleet maintenance fees.

Tool Sales/Rental revenue is comprised of revenue from either the sale or rent of tools to customers.

Tool Revenue is the sum of Other Related Tool Revenue and Tool Sales/Rental revenue.

Webcast and Conference Call

The Company will host a conference call and live webcast today at 10:00 am MT (12:00 pm ET) to review the results of the quarter and discuss its corporate strategy and outlook. The discussion will be accompanied by a slide presentation that will be made available prior to the conference call on SDP’s website at www.sdpi.com/events. A question-and-answer session will follow the formal presentation.

The conference call can be accessed by calling (201) 689-8470. Alternatively, the webcast can be monitored at www.sdpi.com/events. A telephonic replay will be available from 1:00 p.m. MT (3:00 p.m. ET) the day of the teleconference until Friday, November 19, 2021. To listen to the archived call, please call (412) 317-6671 and enter conference ID number 13723735, or access the webcast replay at www.sdpi.com, where a transcript will be posted once available.

About Superior Drilling Products, Inc.

Superior Drilling Products, Inc. is an innovative, cutting-edge drilling tool technology company providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry. The Company designs, manufactures, repairs and sells drilling tools. SDP drilling solutions include the patented Drill-N-Ream® well bore conditioning tool and the patented Strider^™ oscillation system technology. In addition, SDP is a manufacturer and refurbisher of PDC (polycrystalline diamond compact) drill bits for a leading oil field service company. SDP operates a state-of-the-art drill tool fabrication facility, where it manufactures its solutions for the drilling industry, as well as customers’ custom products. The Company’s strategy for growth is to leverage its expertise in drill tool technology and innovative, precision machining in order to broaden its product offerings and solutions for the oil and gas industry.

Additional information about the Company can be found at: www.sdpi.com.

Safe Harbor Regarding Forward-Looking Statements

This news release contains forward-looking statements and information that are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical fact included in this release, including, without limitations, the continued impact of COVID-19 on the business, the Company’s strategy, future operations, success at developing future tools, the Company’s effectiveness at executing its business strategy and plans, financial position, estimated revenue and losses, projected costs, prospects, plans and objectives of management, and ability to outperform are forward-looking statements. The use of words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project”, “forecast,” “should” or “plan, and similar expressions are intended to identify forward-looking statements, although not all forward -looking statements contain such identifying words. These statements reflect the beliefs and expectations of the Company and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, the duration of the COVID-19 pandemic and related impact on the oil and natural gas industry, the effectiveness of success at expansion in the Middle East, options available for market channels in North America, the deferral of the commercialization of the Strider technology, the success of the Company’s business strategy and prospects for growth; the market success of the Company’s specialized tools, effectiveness of its sales efforts, its cash flow and liquidity; financial projections and actual operating results; the amount, nature and timing of capital expenditures; the availability and terms of capital; competition and government regulations; and general economic conditions. These and other factors could adversely affect the outcome and financial effects of the Company’s plans and described herein. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

FINANCIAL TABLES FOLLOW.

Investor Relations:
Deborah K. Pawlowski, Kei Advisors LLC
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New ZEB operational technology reduces standard primary energy consumption by 115% in first year

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that its SUSTIE^® net zero-energy building (ZEB) test facility, which launched at the company’s Information Technology R&D Center (Kamakura, Kanagawa Prefecture) in 2020, reduced its energy consumption to less than 0%, meaning that it created more energy than it consumed, in its first full year of operation. The facility, a medium-sized office building with more than 6,000m² of floor space and equipped with solar panels, deployed ZEB operating technology to optimize operations, resulting in a 115% reduction in energy use compared to standard primary energy consumption as specified in Japan’s Building Energy Conservation Law (values differ according to region and building use). The results demonstrate that ZEB-level operation is possible even in dense urban areas while maintaining a highly comfortable and productive work environment.

For the full text, please visit: www.MitsubishiElectric.com/news/

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Mitsubishi Electric Corporation
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CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it plans to accelerate its share purchases under its normal course issuer bid (NCIB). The current NCIB allows Imperial to repurchase up to five percent of its 711,673,439 outstanding common shares as of June 15, 2021, or a maximum of 35,583,671 shares prior to June 28, 2022. This maximum includes shares purchased from Exxon Mobil Corporation (ExxonMobil) outside of, but concurrent with the NCIB to maintain its proportionate share ownership.

As of the end of October 2021, Imperial had repurchased 11,956,028 shares under the NCIB and from ExxonMobil. By accelerating its purchases, Imperial now plans to repurchase the remainder of the maximum number of shares allowed by the end of January, 2022. Based on the weighted average price paid for purchases in October under the NCIB program of $42.70, the acceleration would represent an aggregate return of over $1 billion to participating shareholders from November, 2021 to the end of January, 2022. Actual cost of purchases will be based on prices at the time of purchase in accordance with the NCIB rules. Purchase plans may be modified at any time without prior notice.

Consistent with the company’s balance sheet strength, low capital requirements and strong cash generation, this announcement reflects the company’s priority and capacity to return cash to shareholders. “Imperial continues to be strongly committed to shareholder returns,” said Brad Corson, Imperial chairman, president and chief executive officer. “It starts with a reliable and growing dividend. When we have surplus cash beyond our base dividend, efficient share repurchases through an NCIB has been our first step. After fully utilizing our NCIB, our next step to return surplus cash to shareholders would be a substantial issuer bid or a special dividend and we are actively evaluating these options.”

Source: Imperial

After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.

Cautionary statement: Statements of future events or conditions in this release, including projections, expectations and estimates are forward-looking statements. Forward-looking statements can be identified by words such as propose, plan, expect, evaluate, strategy, future, continue, may, should, will and similar references to future periods. Forward-looking statements in this release include, but are not limited to, references to the company’s plan to accelerate purchases under the NCIB and repurchase the remainder of the maximum number of shares allowed by the end of January, 2022; the cost of purchases and modification to purchase plans; the company’s priority, capacity and commitment to return cash to shareholders, including through dividends and NCIB, and the potential for a substantial issuer bid or special dividend.

Forward-looking statements are based on the company's current expectations, estimates, projections and assumptions at the time the statements are made. Actual future financial and operating results, including expectations and assumptions concerning demand growth and energy source, supply and mix; commodity prices, foreign exchange rates and general market conditions; production rates, growth and mix; project plans, timing, costs, technical evaluations and capacities and the company’s ability to effectively execute on these plans and operate its assets; cash generation, financing sources and capital structure; progression of COVID-19 and its impacts on Imperial’s ability to operate its assets; applicable laws and government policies, including restrictions in response to COVID-19; and capital and environmental expenditures could differ materially depending on a number of factors. These factors include global, regional or local changes in supply and demand for oil, natural gas, and petroleum and petrochemical products and resulting price, differential and margin impacts, including foreign government action with respect to supply levels and prices and the impact of COVID-19 on demand; availability and allocation of capital; unanticipated technical or operational difficulties; operational hazards and risks; currency exchange rates; availability and performance of third-party service providers; management effectiveness and disaster response preparedness, including business continuity plans in response to COVID-19; political or regulatory events, including changes in law or government policy such as response to COVID-19; general economic conditions; and other factors discussed in Item 1A risk factors and Item 7 management’s discussion and analysis of financial condition and results of operations of Imperial Oil Limited’s most recent annual report on Form 10-K and subsequent interim reports on Form 10-Q.

Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Imperial Oil Limited. Imperial’s actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. Imperial undertakes no obligation to update any forward-looking statements contained herein, except as required by applicable law.

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NEW YORK & HOUSTON--(BUSINESS WIRE)--Global Infrastructure Partners (“GIP”), a leading independent infrastructure investor, announced today an agreement to sell its 25.7% interest in Freeport LNG Development, L.P. (“Freeport”) to JERA Americas Inc. for US$2.5 billion, subject to customary purchase price adjustments. GIP’s second flagship fund, Global Infrastructure Partners II, acquired the stake in 2015.

JERA Americas Inc. (“JERA Americas”) is the U.S.-based subsidiary of global energy leader JERA Co., Inc. (“JERA”), the world’s largest buyer of liquefied natural gas (“LNG”). JERA, through its subsidiaries, owns 25% of Freeport LNG Train 1 and purchases and transports 2.32 mtpa of LNG for use in Japan and other LNG importing countries. Closing of the transaction is subject to customary regulatory approvals and closing conditions.

Freeport owns and operates an LNG export facility on Quintana Island, near Freeport, Texas. In May 2020, Freeport completed construction on the third of its three liquefaction trains, which together produce 15+ mtpa and are underpinned by long-term contracts with top-tier offtakers. Today, Freeport is the seventh largest LNG facility in the world, the second largest in the U.S., and the only U.S. facility to use electric motor-driven technology, emitting 90% less CO2 than a comparable gas turbine-driven facility. Freeport is in the process of pursuing multiple accretive growth opportunities across the LNG value chain, including a fully permitted, shovel-ready Train 4 expansion.

Michael Smith, the Chairman, CEO, Founder and majority shareholder of Freeport said, “As global energy needs continue to grow, there is a global push toward a low-carbon future; we are privileged to play a leading role in fulfilling both of these objectives. We liquefy cost-advantaged, clean American natural gas to provide energy security to key allies such as Japan while reducing emissions by using our electric drive motors and displacing coal. Since 2015, GIP has been an invaluable partner, contributing their expertise and relationships. We look forward to building on our success with JERA, who is already a key partner and offtaker at Freeport, and are excited to have them take a larger role in our growing LNG platform.”

Adebayo Ogunlesi, Chairman and Managing Partner of GIP said, “We are extremely proud to have partnered with Michael Smith in transforming Freeport from a regasification facility into a leading LNG export platform that will help drive industrial growth and development. Through its agility and entrepreneurial spirit, Freeport is continuing to innovate and find ways to deliver more LNG with lower carbon intensity to consumers around the world. We congratulate JERA Americas as they participate in the next stage of Freeport’s growth.”

Steven Winn, CEO of JERA Americas said, “Increasing our ownership position in Freeport not only provides JERA Americas with highly cost-competitive LNG that may be used to ensure a stable supply to the global market, it also will allow us to build upon and accelerate some of efforts that Freeport has already initiated toward the goal of cleaner energy. Securing a stable supply of LNG is becoming increasingly important as we witness sharp price increases around the world. We will leverage the knowledge and expertise accumulated through JERA’s global LNG value chain business and power plant operations as we work together with Freeport on its various businesses to meet the growing demand for electricity in Asian countries and help facilitate the transition from coal to lower emission transitional fuel LNG.”

About Freeport LNG

Freeport LNG is an LNG export company headquartered in Houston, Texas. The company’s three train, 15 mtpa liquefaction facility is the seventh largest in the world and second largest in the U.S. Freeport LNG’s liquefaction facility is the largest all-electric drive motor plant of its kind in the world, making it the most environmentally sustainable site of its kind. The facility’s electric drive motors reduce carbon emissions by over 90% relative to gas turbine-driven liquefaction facilities. Freeport plans to expand by adding a fourth liquefaction train, which has received all regulatory approvals for construction. Freeport was formed in 2002 to develop, own and operate an LNG terminal on Quintana Island, near Freeport, Texas. The terminal started LNG import operations in June 2008 and began LNG export operations in 2019. Further information can be found on Freeport’s website at www.freeportlng.com.

About Global Infrastructure Partners

Global Infrastructure Partners is an independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP targets investments in the energy, transport and water/waste sectors in both OECD and select emerging market countries. GIP’s teams are located in 10 offices: London, New York, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong. GIP’s credit platform provides financing solutions and makes debt and non-common equity investments in infrastructure assets and companies. For more information, visit www.global-infra.com.

About JERA Americas

Houston-based JERA Americas is a leading integrated energy provider supporting the Americas’ energy transition in an environmentally and socially responsible manner. A subsidiary of JERA, the world’s largest buyer of LNG and supplier of 30% of the electricity in Japan, JERA Americas is supporting a “JERA Zero CO2 Emissions 2050” objective to achieve zero CO2 emissions from its businesses by 2050. JERA, which stands for Japanese Energy for a New Era, has a vision to contribute to the development of a sustainable society, and to become a global company that is worthy of the regard of the global energy market and indispensable to the people of the world. Further information may be found at www.jera.co.jp/english/.

Advisors

Rothschild & Co and Mizuho Securities USA LLC are serving as joint financial advisors and Simpson Thacher & Bartlett LLP is serving as legal advisor to GIP. Goldman Sachs & Co. LLC is serving as financial advisor and Sidley Austin LLP is serving as legal advisor to JERA Americas.

GIP Media Contacts
Media Inquiries
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+1.646.282.1545

CLP Strategies
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+1.914.364.8024

JERA Media Contact
JERA Americas
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Splitvolt’s high-profile demonstration and mainstage podcast interview to be featured at the new Electrify Expo in Austin, Texas

AUSTIN, Texas--(BUSINESS WIRE)--#EV--Splitvolt, the innovator and leader of the emerging EV charging-related product category called Splitter Switches, is showcasing at Electrify Expo a live demonstration of its family of Splitter Switches and Portable EV chargers, now available on www.splitvolt.com and on Amazon.

As a high-profile exhibitor, the Splitvolt booth is located just inside the main entrance in the first Electrify Expo in Austin, held at the Circuit of the Americas, November 12-14, 2021. Building on the momentum Splitvolt had at Electrify Expo in Orange County, Splitvolt doubles its physical presence with its innovative demonstrations at the main entrance of the show. The event boasts more than 19,000 electric vehicle curious (e-curious) consumers over the three days and highlights press, vendors and new product exhibits from numerous major automakers including Jeep, Polestar, Kia, Volvo, Volkswagen, Porsche, Mercedes, MINI and BMW--most of whom are allowing attendees to test drive their new electric vehicles.

At the Splitvolt booth #100, the team is showcasing the company’s innovative products and informative demonstrations that taught attendees more about safe and inexpensive fast home charging access. Splitvolt CEO Dan Liddle was selected to present on the mainstage an overview of how Splitvolt has created its groundbreaking category of EV fast home charging-related solutions.

Also at Electrify Expo, Splitvolt’s CEO interview will be broadcast throughout the show, and be featured in the Electrify Expo’s podcast as a market leader for EV charging solutions.

Splitvolt conducted live hands-on demonstrations of their unique Splitter Switches and portable EV chargers as well as adaptors and 240 volt extension cables. Splitvolt products are designed to make fast home charging power access simple, affordable and safe.

Splitvolt has previously rolled out many products across Amazon and its own website: www.splitvolt.com. The product selection focuses on new and unique ways for EV owners to get fast home charging access.

Click here to see the highly innovative products for EV owners, only available for sale at Splitvolt right now.

About Splitvolt
Splitvolt’s mission is to inspire use of sustainable energy and Empowering Electric Vehicle Adoption™ by creating compelling products and solutions that make it simple for everyday car owners to benefit from electric vehicle use in daily life. Working at Splitvolt means having a shared vision to empower the future in innovative ways and play a key role in the once-in-a-lifetime transformation of the automotive industry. To find out more, visit www.splitvolt.com or the Splitvolt Amazon Store.

Media Contacts:
Daniel Liddle
Splitvolt, Inc.
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