HOUSTON--(BUSINESS WIRE)--USD Partners LP (NYSE:USDP) (the “Partnership”) announced today that it will post an updated investor presentation on its website. Among other information, the presentation includes an overview of the Partnership, discusses the benefits to the Partnership from its Sponsor’s Diluent Recovery Unit project and includes updated information with respect to the Western Canadian crude oil market activity.

The presentation will be made available on the Partnership’s website no later than 5:00pm Eastern Time on Wednesday, September 22, 2021, at www.usdpartners.com on the “Events & Presentations” sub-tab under the “Investors” tab.

About USD Partners LP

USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC (“USD”) to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies and refiners. The Partnership’s principal assets include a network of crude oil terminals that facilitate the transportation of heavy crude oil from Western Canada to key demand centers across North America. The Partnership’s operations include railcar loading and unloading, storage and blending in on-site tanks, inbound and outbound pipeline connectivity, truck transloading, as well as other related logistics services. In addition, the Partnership provides customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons and biofuels by rail.

USD, which owns the general partner of USD Partners LP, is engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America. USD’s solutions create flexible market access for customers in significant growth areas and key demand centers, including Western Canada, the U.S. Gulf Coast and Mexico. Among other projects, USD, along with its partner Gibson Energy, Inc., is progressing on a long-term solution to transport heavier grades of crude oil produced in Western Canada to the U.S Gulf Coast through a Diluent Recovery Unit at the Hardisty Terminal and USD’s destination terminal in Port Arthur, Texas. Both projects are currently operating in the start-up phase. USD is also currently pursuing the development of a premier energy logistics terminal on the Houston Ship Channel with capacity for substantial tank storage, multiple docks (including barge and deepwater), inbound and outbound pipeline connectivity, as well as a rail terminal with unit train capabilities. For additional information, please visit texasdeepwater.com. Information on websites referenced in this release is not part of this release.

Category: Corporate

Adam Altsuler
Executive Vice President, Chief Financial Officer
(281) 291-3995
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Jennifer Waller
Director, Financial Reporting & Investor Relations
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DUBLIN--(BUSINESS WIRE)--The "Bakken Shale in the United States of America (USA), 2021 - Oil and Gas Shale Market Analysis and Outlook to 2025" report has been added to ResearchAndMarkets.com's offering.

The Bakken shale play is the second largest oil producing region in the United States behind the Permian Basin. In 2019, it averaged over 1.4 million barrels of oil per day (mmbd), which was followed by Eagle Ford play at 1.37 mmbd.

The play is located in North and South Dakotas and Montana states in the United States and southern part of Saskatchewan province in Canada. However, more than 90% of the hydrocarbon output comes from the portion of play located in the United States and accounted for almost 11% of oil and 3% of natural gas production in the United States Lower 48 for 2020.

The play peaked in production in November 2019, with 1,525 thousand barrels of oil per day (mbd) and 3.1 billion cubic feet per day (bcfd) of natural gas. Crude oil production in Bakken peaked in November 2019, and since then was declining at 6% rate on an annual basis. However, muted energy demand and crashed oil price brought by Covid-19 pandemic, caused crude oil production in the play to drop by around 40% compared to the beginning of the year.

The lowest levels of production since the end of 2019 was in May 2020 with 890 mbd and 1.9 bcfd, which is a 41% drop in oil and 39% drop in natural gas production. Production in the play is expected to slowly grow as oil prices recover, however, it is not expected to reach pre-pandemic levels in the next five years.

Scope

The report analyses the crude oil and natural gas appraisal and production activities in the Bakken shale in US. The scope of the report includes:

• Comprehensive analysis of crude oil and natural gas historical production and outlook during 2018-25
• Detailed information of impact on well development, permits and deals against the backdrop of the COVID-19 pandemic
• In-depth information of well productivity and well completion parameters across Bakken shale in the US
• Analysis of top companies' net acreage, planned capital expenditure in 2021, as well as crude oil and natural gas reserves and production stats as of 2020
• Up-to-date information on major mergers and acquisitions across the Bakken shale play between 2019 and 2021

Reasons to Buy

• Develop business strategies with the help of specific insights into the Bakken shale in the US
• Plan your strategies based on economic viability and expected developments in the Bakken shale
• Keep yourself informed of the latest M&A activity in across Bakken shale
• Identify opportunities and challenges across Bakken shale play

Key Topics Covered:

1. Overview

1.1 Bakken Shale, Recent Developments and Trends

2. Bakken Shale, Introduction

2.1 Bakken Shale, Formation Overview

3. Bakken, Production and Activity Overview

3.1 Bakken Shale, Production Analysis, 2018-2020

3.2 Bakken Shale, COVID-19 Impact on Production

3.3 Bakken Shale, Production Outlook, 2021-2025

3.4 Bakken Shale, Drilling Activity

3.5 Well profile

4. Bakken Shale, Competitive Benchmarking

4.1 Bakken Shale, Major Companies with Prominent Presence, 2021

4.2 Bakken Shale, Major Companies' Financial Standings

4.3 Bakken Shale, Operational Performance of Leading Operators

4.4 Bakken Shale, Completion Parameters, 2019-21

4.5 Bakken Shale, Future Plans of Major Companies

4.6 Bakken Shale, Cost Trends, March 2021

5. Bakken Shale, Analysis of Bankrupt Companies

5.1 Bruin E&P

5.2 Whiting Petroleum Corp.

6. Bakken Shale, Associated Infrastructure

6.1 Pipelines

7. Mergers and Acquisition Activity in the Bakken Shale, 2019-2021

7.1 Overview of M&A Activity

7.2 Major Acquisitions

8. Bakken Shale, Analysis of Major Companies

8.1 Hess Corporation

8.2 Marathon Oil Corporation

8.3 Whiting Petroleum Corporation

8.4 ExxonMobil Corporation

8.5 ConocoPhillips

8.6 Oasis Petroleum Inc.

8.7 Petro-Hunt, LLC

8.8 Enerplus Resources Corporation

8.9 Northern Oil & Gas Inc.

8.10 Kraken Operating, LLC

8.11 Ovintiv Inc

8.12 EOG Resources

8.13 Nine Point Energy LLC

For more information about this report visit https://www.researchandmarkets.com/r/u8d8s0

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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New end-to-end charging solution to allow fleet managers to reduce carbon footprint while meeting complex reporting and cost management needs

PORTLAND, Maine & CAMPBELL, Calif.--(BUSINESS WIRE)--WEX (NYSE: WEX), a leading financial technology service provider, and ChargePoint, a leading electric vehicle (EV) charging network operating in North America and Europe, have announced plans to expand their existing relationship to provide seamless integration of EV charging for mixed fleets that include internal combustion engine vehicles (ICE). This expanded global partnership is expected to not only provide customers ready access to the largest public EV charging network for on-route charging needs, but also enable ‘depot’ and ‘at-home’ charging along with the means to facilitate employee reimbursement.

“By expanding WEX’s relationship with ChargePoint, we expect to position both companies to serve our customers’ full range of needs over the long-term, as more businesses evolve their fleets in efforts to address climate change,” said Scott Phillips, president of global fleet at WEX. “As a leader in the commercial fleet industry for nearly four decades, our customers across the globe rely on us to provide financial controls, powerful reporting, data solutions, and secure payments that keep their drivers on the road and on the job, while managing costs. WEX believes that partnering with ChargePoint will enable WEX to fully support any mix of EV and ICE vehicles that our customers operate.”

WEX and ChargePoint intend to offer a robust end-to-end solution to help mixed fleets incorporate on-route, depot and at-home charging solutions including streamlined program enrollment, centralized reporting and billing, real-time data on energy use to support driver reimbursement for commercial electric charging and installation services. The companies expect to offer at-work and fleet depot charging solutions for customers looking to install on-site charging stations at workplace facilities and integrate them into their fleet operations as well as private site charging solutions.

“Our expanded partnership with WEX is a major step in helping fleets prepare for the future of electric mobility with convenient and cost-effective expense management and wide payment acceptance. Today, WEX and ChargePoint have an EV payment system in the market that enables WEX’s fleet customers to pay for electric charging sessions at thousands of locations on the ChargePoint network on demand,” said Rich Mohr, global vice president of fleet at ChargePoint. “The enhanced end-to-end e-mobility solutions from on-route, depot and at-home easily support drivers when they need a charge in North America and Europe.”

In addition, this growing relationship will allow drivers to locate and activate EV charging stations and authorize payments while providing fleet managers with consolidated billing and reporting and greater visibility into internal combustion engine and electric vehicle usage. Integrating this data is critical for mixed fleet customers as they continue to look for opportunities to further reduce their carbon footprints and to simplify their complex reporting needs.

“As partners, WEX and ChargePoint plan to offer fleet managers the opportunity to integrate as many electric vehicles into their fleets as they desire, without any loss of visibility, financial controls or fueling flexibility,” continued Mr. Phillips. “By doing so, we will help our customers evolve their fleets as new forms of transportation are available and operating cost, environmental impact and other considerations affect their business imperatives.”

About WEX

WEX (NYSE: WEX) is a leading financial technology service provider. We provide payment solutions to businesses of all sizes across a wide spectrum of sectors, including fleet, corporate payments, travel and health. WEX has offices in 14 countries and employs approximately 5,400 people around the world. Learn more at LinkedIn, Facebook, Instagram, Twitter, and our corporate blog. For more information, visit www.wexinc.com.

About ChargePoint

ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions available today. ChargePoint’s cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. To date, more than 92 million charging sessions have been delivered, with drivers plugging into the ChargePoint network every two seconds or less. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact ChargePoint’s North American or European press offices or Investor Relations.

Forward-Looking Statements made by WEX

This earnings release contains forward-looking statements, including statements regarding: expectations for the extent and breadth of the future relationship between WEX and its counterparty, ChargePoint, and future growth opportunities for the relationship between WEX and such counterparty. Any statements that are not statements of historical facts may be deemed to be forward-looking statements. When used in this earnings release, the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project”, “will”, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially, including: WEX’s ability to finalize all negotiations with the counterparty with respect to certain aspects of the relationship at all or on terms that are favorable to WEX; WEX’s ability and timing to execute on the products and services to be provided under the relationship with the counterparty, as well as other risks and uncertainties identified in Item 1A of WEX’s annual report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission on March 1, 2021 and WEX’s quarterly report on Form 10-Q for the period ended June 30, 2021, filed with the Securities and Exchange Commission on August 4, 2021. WEX's forward-looking statements do not reflect the potential future impact of any alliance, merger, acquisition, disposition or stock repurchases. The forward-looking statements speak only as of the date of this release and undue reliance should not be placed on these statements. WEX disclaims any obligation to update any forward-looking statements as a result of new information, future events or otherwise.

Media Contacts:
WEX
Rob Gould, 207-523-7429
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CHARGEPOINT
Jennifer Bowcock, 408-768-8221
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Investor Contact:
WEX
Steve Elder, 207-523-7769
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SINGAPORE--(BUSINESS WIRE)--#AsiaPacific--UPC Hydrogen Pte Ltd ("UPC Hydrogen") is pleased to announce that it has acquired the exclusive license to produce hydrogen from technology developed by Proton Technologies Inc. (“Proton”) for a selection of countries in the Asia Pacific region. UPC Hydrogen is an affiliate of Renewables Asia Pacific Holdings Pte Ltd ("UPC Renewables"), a private company with 8 GW of wind, solar and storage in development, under construction or in operation across the Asia Pacific region.

The licenced countries include Indonesia, Vietnam, Australia, Malaysia, the Philippines, Mongolia and Myanmar. UPC Hydrogen believes that the Proton technology can produce hydrogen in these countries at a price of less than US$1.00/KG from new, plugged, abandoned or uneconomic oil wells (especially heavy oil wells) whilst keeping any carbon from being emitted from the wells. The technology could provide low cost carbon free power in areas that are less rich in natural renewable sources than most countries and that have severe shortage of suitable land due to competing uses.

Steven Zwaan, Director of UPC Hydrogen said “When we first visited Proton’s production site in Canada in early 2020, our pre-covid view was excitement about both the potential to load balance renewable-weighted grids with baseload hydrogen, but also the longer-term prospect of an electricity cost potentially lower than wind and solar. Now the world is very attuned to the benefits of saving money while deeply decarbonizing using hydrogen without emitting carbon to surface. There is no need for fresh water for this process and the ecological disturbance is limited to existing infrastructure.”

Grant Strem, Chairman & CEO of Proton added "UPC Hydrogen has been an early and critical supporter in the advancement of this transformative technology. We are delighted to work with UPC Hydrogen and assist as they and we both proliferate this important extremely clean technology."

For Media:
Proton’s Chair & CEO Grant Strem, COO Seta Afshordi, and Head of Commercial Calvin Johnson are available for interviews. Bookings can be made through
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VANCOUVER, British Columbia--(BUSINESS WIRE)--Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell solutions, announces that Peter Johansson has joined the Company’s Board of Directors. Johansson brings an extensive range of experience to Loop Energy, with a successful 35-year career across the aerospace, automotive and industrial sectors.

Previously he was EVP, Strategy, Business Development and Marketing at Accudyne Industries, where he was responsible for the formulation and execution of the growth, business development and M&A strategies for an extensive portfolio of industrial compressors, pumps and valves. Prior to Accudyne, Mr. Johansson led the product, market, and M&A strategy for IDEX Corporation. He has also held senior business and commercial management and engineering roles with ITT Corporation, Trane Technologies, WABCO, and AlliedSignal. Mr. Johansson is currently a consultant providing strategic and technical advice to highly engineered industrial product companies to drive their value creation and market development efforts.

“Hydrogen is a critical pathway in the clean energy transition, and I believe Loop Energy has the right combination of technology, people and products to become a leading player in this transition,” said Peter Johansson. “I am looking forward to working with the Loop Energy team, fellow board members and strategic advisors to support its successful expansion into markets around the world.”

“Peter is a true leader in the industry, with unique vision and expertise that will add tremendous value to the Company as we continue to expand globally across many sectors,” said Ben Nyland, President & Chief Executive Officer at Loop Energy. “We are thrilled to work with Peter, and we look forward to leveraging his experience in order to accelerate Loop Energy’s growth.”

About Loop Energy Inc.

Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including, light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop’s products feature the Company’s proprietary eFlow™ technology in the fuel cell stack’s bipolar plates. eFlow™ was designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflect management’s current expectations and projections regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control and could cause actual results and events to vary materially from those that are disclosed, or implied, by such forward-looking information. Such risks and uncertainties include, but are not limited to, the ability of the Company to execute on its strategy and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated March 30, 2021. Loop disclaims any obligation to update these forward-looking statements.

Loop Energy Media Contact: Ashley Eisner | Tel: +1.212.697.2600 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Loop Energy Business Contact: George Rubin | Tel: +1.604.828.8185 | This email address is being protected from spambots. You need JavaScript enabled to view it.

• Increases Vertical’s eVTOL pre-order book to a total of up to 1350 aircraft
• Accelerates entry opportunities to Japanese market
• Expands Vertical’s global partnership network

BRISTOL, England--(BUSINESS WIRE)--Vertical Aerospace (“Vertical”), a leading British eVTOL manufacturer which is pioneering the transition to carbon free aviation, today announced that Vertical and Marubeni Corporation (“Marubeni”), a leading Japanese integrated trading and investment business conglomerate have reached an agreement to explore sustainable, emissions free Advanced Aerial Mobility (AAM) travel solutions, focused on the application of Vertical’s flagship electric aircraft, the VA-X4, in the Japanese market. Marubeni has also agreed a conditional pre-order option of up to 200 of Vertical’s aircraft.

This important partnership builds on existing commercial partnerships between Vertical and American Airlines, Virgin Atlantic, Avolon, Iberojet and Bristow who with Marubeni have already collectively agreed conditional pre-orders for 1350 aircraft in total with a value of approximately $5.4bn.

Vertical and Marubeni will now begin jointly evaluating the requirements for eVTOL aircraft operations in Japan as well as other commercial considerations such as route and network planning, infrastructure requirements and capacity, plus engaging other interested parties who can play a role in launching AAM in Japan.

By working with such an established and respected Japanese organisation, Vertical expects to accelerate its ability to enter the Japanese market and offer Japanese consumers a safer, faster, cheaper and greener alternative to current short haul options in the country.

With its technological and regulatory advantages, such as its capacity to operate high frequency eVTOL traffic in a safe environment, Japan has great potential when it comes to the commercialization of the AAM market. Marubeni believes that eVTOLs have a number of use cases in Japan, such as inter-city, intra-city, airport shuttle and life support operations, that will benefit both customers and communities. Marubeni is expecting eVTOL operations to commence in 2025 and will utilize its existing aviation capabilities to maximize the quality of personal transportation.

Vertical is now working with partners in key locations around the world to establish AAM operations in markets where there is expected high demand for eVTOL operations. In the USA, American Airlines plans to work with Vertical on passenger operations and infrastructure development. In the United Kingdom, Virgin Atlantic and Vertical plan to work together to explore the joint venture launch of a Virgin Atlantic branded short haul eVTOL network, including operations and infrastructure development.

The VA-X4, Vertical’s flagship aircraft, is expected to be certified to the same standards as commercial airliners and is expected to be significantly safer and quieter than a helicopter. By combining its world-class team with a deliberately built ecosystem of top-tier partners, such as Microsoft, American Airlines, Avolon, Honeywell, Rolls-Royce, and more, Vertical has assembled a broad mix of people and world class organisations with both commercial track records as well as experience testing, building and certifying some of the world’s most advanced aircraft.

Stephen Fitzpatrick, Founder and CEO of Vertical said:

“Marubeni is one of the most respected companies in Japan, and we are proud to be partnering with them as we look at ways to bring our VA-X4 to the Japanese market. Marubeni’s pre-order option for up to 200 aircraft provides us with a potential direct route to market and builds on our purchase agreements with American Airlines, Virgin Atlantic, Avolon, Iberojet and Bristow. This is the most exciting time in aviation for almost a century; electrification will transform flying in the 21st century in the same way the jet engine did 70 years ago and with Marubeni we are confident we have a great partner who can be a part of this transformation.”

Toru Okazaki, Senior Operating Officer, Aerospace & Ship Div at Marubeni said:

“We’re so excited to announce this great partnership with Vertical Aerospace, who is now leading the Advanced Aerial Mobility market. Through this strong partnership with Vertical, we are confident that we will successfully develop the AAM market in Japan. By seeking to popularise eVTOL technology, we will not only be enriching people’s lives but making meaningful inroads into the reduction of greenhouse gases and our path to net-zero.”

About Vertical Aerospace

Vertical Aerospace is pioneering electric aviation. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the Ovo Group, a leading energy group and Europe’s largest independent energy retailer. Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have over 1,200 combined years of experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems.

Vertical’s unrivalled top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification, allow for a lean cost structure and enable production at scale. Vertical has received conditional pre-orders for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes pre-order options from Virgin Atlantic and Marubeni, and in doing so, is creating multiple potential near term and actionable routes to market. In June 2021, Vertical Aerospace announced a SPAC merger with Broadstone Acquisition Corp (NYSE: BSN).

About VA-X4 eVTOL Aircraft

The four passenger, one pilot VA-X4 is projected to have speeds up to 200mph, a range over 100 miles, near silent when in flight, zero operating emissions and low cost per passenger mile. The VA-X4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel. Find out more: www.vertical-aerospace.com

About Broadstone Acquisition Corp.

Broadstone Acquisition Corp. (NYSE: BSN) was set up by serial entrepreneurs, operators and investors, Hugh Osmond, Edward Hawkes and Marc Jonas. It was established to combine with a UK/European business with a strong management team, significant growth prospects, and the opportunity to become a market leader in its sector. Broadstone’s executive team has an extensive track record in value creation. The combination of a strong internal team, a network of external resources and the experience of the management team enables us to support rapid, substantial, and lasting growth.

About Marubeni

Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business activities across wide-ranging fields including lifestyle, ICT & real estate business, forest products, food, agri business, chemicals, energy, metals & mineral resources, power business, infrastructure project, aerospace & ship, finance & leasing business, construction, industrial machinery & mobility, and next generation business development. Additionally, the Marubeni Group offers a variety of services, makes internal and external investments, and is involved in resource development throughout all of the above industries.

Vertical Aerospace - Nepean
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Gross Margins improved to 22.1%

VISTA, Calif.--(BUSINESS WIRE)--$FLUX #GSE--Flux Power Holdings, Inc. (Nasdaq: FLUX), a developer of advanced lithium-ion battery packs for commercial and industrial equipment, today reported financial results for its fourth quarter (Q4’21) and fiscal year (FY‘21) ended June 30, 2021.

Financial Highlights:

• Q4’21 revenue grew 33% to $8.3M compared to Q4’20 revenue of $6.3M
• FY’21 revenue increased 56% to $26.3M vs FY’20 revenue of $16.8M
• Q4’21 gross margin increased to 21.0% compared to 17.5% in Q4’20
• FY’21 gross margin improved to 22.1% vs FY’20 gross margin of 13.0%

Strategic Highlights:

• Uplisted on the Nasdaq Capital Market under the symbol “FLUX.” Prior to the listing on the Nasdaq Capital Market, Flux Power’s common stock was quoted on the OTCQB. Raised $12.4M in equity capital, increasing its shareholder base, including institutional investors. Converted $5.2M of debt to equity, eliminating all debt, to strengthen the balance sheet and capital structure.
• Launched next generation lithium-ion battery pack for end riders & center riders - feedback from customers has been positive with substantial orders.
• Initiated deliveries to the world’s largest meat processor and two major customers (paper products & chemicals manufacturer and a packaging manufacturer).
• Resumed deliveries that were deferred by a global airline during the travel disruptions caused by the COVID pandemic.
• Signed partnership agreement with CLARK Material Handling Company to supply lithium-ion batteries.
• Initiated deliveries of a new proprietary battery pack to a provider of “autonomous electric shuttle vehicles”.
• Announced three patents pending for advanced lithium-ion battery technology.
• Reached milestone of 9,000 battery packs in the field (surpassed by 10,000 battery packs in July - FY’22), while being challenged by global supply change disruption.
• Expanded into additional warehouse space to accommodate growth and allocate more space for inventory and production lines.
• Named to the Financial Times “Americas Fastest Growing Companies” List. Received the 2020 Supply & Demand Chain Executive Green Supply Chain Award. Named to Food Logistics’ 2021 Top Green Providers List.

“Our 2021 Fiscal Year was quite a challenge, with supply chain disruptions and continuing effects from the COVID pandemic,” Flux Power CEO Ron Dutt commented. “Despite these challenges, we delivered substantial revenue growth and gross margin improvements, while launching new products and obtaining UL listings.”

Q4’21 Financial Results

Revenue: Q4’21 revenue increased 33% to $8.3M compared to $6.3M in Q4’20, driven by sales of larger LiFT Packs. Q4’21 represented the 12^th consecutive quarter of year-over-year revenue increases.

Gross Profit: Q4’21 gross profit improved to $1.8M compared to a gross profit of $1.1M in Q4’20 principally reflecting higher sales volumes and benefits from Flux Power’s revenue growth and gross margin improvement program.

Selling & Administrative: Expenses increased to $3.4M in Q4’21 from $2.7M in Q4’20, principally reflecting increased staffing to support expanded operations and growth.

Research & Development: Expenses increased to $2.0M in Q4’21, compared to $1.1M in Q4’20 reflecting continued product range evolution and optimization, including high voltage battery packs (400 Volts), and developed adaptions of battery packs for “second sourcing” of battery cells.

Net Loss: Q4’21 net loss increased to $3.7M from a loss of $3.3M in Q4’20, principally reflecting higher operating costs and interest expense.

FY’21 Financial Results

Revenue: FY’21 revenues rose 56% to $26.3M compared to $16.8M in FY’20, reflecting the continued momentum rolling out full lineup of large LiFT Packs and adding large new Fortune 500 customers with large fleets having multi-year ordering demands.

Gross Profit: FY’21 gross profit improved to $5.8M compared to $2.2M in FY’20, based on higher sales and improved gross margins reflecting the benefit of sourcing initiatives, lower prices from higher volume purchasing, and specific design cost reductions.

Selling & Administrative: Expenses increased to $12.6M in FY’21 from $9.8M in FY’20, principally due to additional cash and stock-based compensation expense related to new hires across the business to facilitate production and market growth, and legal fees supporting debt and equity issuances.

Research & Development: Expenses increased to $6.7M in FY’21 from $5.0M in FY’20, reflecting development costs supporting expanded product offering as well as third party certification efforts such UL Listing and UN38.3 (transportation) requirements.

Net Loss: Net loss decreased to $12.8M (a loss of $1.08 per share) in FY’21 from a net loss of $14.3M (a loss of $2.80 per share) in FY’20 mainly due to higher operating expenses and increased interest expense. Per share results are based on 11.8M and 5.1M weighted average basic shares outstanding at the end of FY’21 and FY’20, respectively.

Capital Structure

Flux Power completed equity private placements during Q1’21 totaling $3.2M. Additionally, a total debt conversion to equity of $5.2M, combined with debt repayment of $2.6M was achieved resulting in a debt free condition at year-end.

On August 18, 2020, Flux Power closed an underwritten public offering of its common stock priced at a public offering for gross proceeds of approximately $12.4 million, which included the full exercise of the underwriter's over-allotment option to purchase additional shares, prior to deducting underwriting discounts and commissions and offering expenses payable by Flux Power. A total of 3,099,250 shares of common stock were issued in the offering, including the full exercise of the over-allotment option.

Flux Power raised additional gross proceeds of $12.7M in an ATM Offering, prior to deducting commissions and other offering related expenses, and issued an aggregate of 978,782 shares of common stock at an average price of $12.93 per share in the offering.

Fiscal Year 2022 Outlook

Flux Power anticipates revenue growth to continue its FY’21 momentum in FY’22 reflecting: (i) acquisition of new Fortune 500 customers; (ii) launching new product innovations; (iii) and continued mitigation of supply chain challenges.

The supply chain disruption in the global marketplace has impacted Flux Power in past months reflecting delays in shipments from Asia, higher steel prices, scarcity of electronic components, and higher shipping costs. While Flux Power customer deliveries of battery packs have been delayed in some cases, no customer orders have been lost, only deferred. To that point, total backlog, or open sales orders, total $18M as of this date. Mitigation actions have been implemented to address the impact to supply chain disruption, while anticipating continued impact but with a gradual recovery.

The first quarter (Q1’22) of the fiscal year is a seasonally slower revenue quarter, reflecting customers not purchasing or installing new equipment over the historically slower summer months of July and August. However, Flux Power anticipates significant year over year growth for the quarter, but a lower growth quarter compared with the prior two quarters Flux Power also expects to further enhance gross margins across its product lines through implementation of pricing actions and a series of clearly defined initiatives to advance technology, design, production and purchasing efficiencies, as well as benefiting from growing economies of scale.

About Flux Power Holdings, Inc. (www.fluxpower.com)

Flux Power designs, develops, manufactures, and sells advanced lithium-ion energy storage solutions for lift trucks, and other industrial equipment including airport ground support equipment (GSE), solar energy storage, and other commercial applications. Our “LiFT Pack” battery packs, including our proprietary battery management system (BMS) and telemetry, provide our customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions.

Cautionary Statement Regarding Forward-Looking Statements

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

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

Follow us at:

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LinkedIn: Flux Power

Media & Investor Relations:
Justin Forbes
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DUBLIN--(BUSINESS WIRE)--The "Global Digital Oilfield Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.

The digital oilfield market is poised to grow by $5.00 bn during 2021-2025, progressing at a CAGR of over 3%

The market is driven by rise in rig count, drilling activities in remote areas, and increasing complexities of refineries

The report on the digital oilfield market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The digital oilfield market analysis includes the technology segment and geographic landscape.

This study identifies the increasing applications of digital oilfields as one of the prime reasons driving the digital oilfield market growth during the next few years. Also, the advent of big data analytics and 4D seismic survey technology will lead to sizable demand in the market.

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading digital oilfield market vendors that include ABB Ltd., Emerson Electric Co., General Electric Co., Halliburton Co., Honeywell International Inc., Rockwell Automation Inc., Schlumberger Ltd., Schneider Electric SE, Siemens AG, and Weatherford International Plc.

Also, the digital oilfield market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Key Topics Covered:

Executive Summary

• Market overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Five forces analysis 2020 & 2025
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Technology

• Market segments
• Comparison by Technology
• Software - Market size and forecast 2020-2025
• Services - Market size and forecast 2020-2025
• Hardware - Market size and forecast 2020-2025
• Market opportunity by Technology

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• MEA - Market size and forecast 2020-2025
• North America - Market size and forecast 2020-2025
• Europe - Market size and forecast 2020-2025
• APAC - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity By Geographical Landscape
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• ABB Ltd.
• Emerson Electric Co.
• General Electric Co.
• Halliburton Co.
• Honeywell International Inc.
• Rockwell Automation Inc.
• Schlumberger Ltd.
• Schneider Electric SE
• Siemens AG
• Weatherford International Plc

Appendix

For more information about this report visit https://www.researchandmarkets.com/r/s61bkk

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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KIYOSU, Japan--(BUSINESS WIRE)--Toyoda Gosei Co., Ltd. (TOKYO:7282) invested in startup E-ThermoGentek Co., Ltd., which possesses original thermoelectric power generation technology that converts heat to electricity, in August 2021.

As it moves toward achieving carbon neutrality by 2050, Toyoda Gosei is switching to the latest energy-saving equipment and machinery and expanding its use of renewable energy. One aspect of this is for the company to generate its own power using solar and geothermal sources.

This investment will allow Toyoda Gosei to collaborate with E-ThermoGentek in developing power generation systems for effective use of the thermal energy emitted in the molding and processing of rubber and plastics, its main products.

Outline of E-ThermoGentek

E-ThermoGentek original technology

This, flexible power generation module “Flexina”® can be attached along the contour of piping, equipment and machinery to efficiently convert heat into electricity.

Toyoda Gosei Co., Ltd.
Contact: Public Relations
Takatomo Abe
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ABERDEEN, Scotland--(BUSINESS WIRE)--KNOT Offshore Partners LP (the “Partnership”) (NYSE: KNOP) announced today that the Partnership will host a virtual Investor Day on Wednesday, October 6, 2021, starting at 10:00 am EST.

During the event, which will be webcast live, the Partnership and its sponsor, Knutsen NYK Offshore Tankers AS, alongside leading third-party experts will provide an overview of the shuttle tanker business, give an update on the shuttle tanker market, and outline the supportive fundamentals that continue to underpin the Partnership’s leading market position and future growth expectations. This will be followed by a Q&A session.

In order to access the live video webcast, or to view an archived replay, please Pre-Register Here or visit the Investor Relations section of the Partnership’s website, http://www.knotoffshorepartners.com/. Please allow extra time prior to the call to visit the site and download any necessary software that may be needed to access the Internet broadcast.

About KNOT Offshore Partners LP

KNOT Offshore Partners LP owns, operates and acquires shuttle tankers under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol “KNOP”.

KNOT Offshore Partners LP
Gary Chapman
Chief Executive Officer and Chief Financial Officer
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +44 1224 618 420

PARIS--(BUSINESS WIRE)--Regulatory News:

Technip Energies (PARIS: TE) and National Petroleum Construction Company (NPCC), a subsidiary of National Marine Dredging company, have signed a Memorandum of Understanding (MoU) to advance energy transition in United Arab Emirates (UAE) and other countries in the MENA region.

The MoU was signed at the GASTECH conference on Sept. 21, by NPCC CEO Eng Ahmed Dhaheri and Technip Energies CEO Arnaud Pieton in the presence of senior officials of both companies.

With the commitment to energy transition and decarbonization, there is an unprecedented momentum in the industry for clean energy. The aim of this agreement is to explore and capitalize on this evolving opportunity and to provide added value services. Technip Energies and NPCC will create a Joint Venture (JV) to drive the energy transition journey.

With more than three decades of existing collaboration, both entities will bring complementary added-value to the JV. While Technip Energies will bring its technological know-how, overall project management capabilities and innovative solutions from early stage to project delivery, NPCC will bring its project management skills for EPC projects, its regional footprint and its fabrication capabilities.

The strategic partnership will focus on capturing opportunities in energy transition and on fostering the best engineering practices. It will also enhance cooperation in blue and green hydrogen and related decarbonization projects, CO₂ capture in addition to industrial projects in the fields of waste-to-energy, biorefining, biochemistry, ammonia as well as other energy transition related themes.

Arnaud Pieton, CEO of Technip Energies, said: “We are proud to have signed this partnership with NPCC, a long standing and trusted partner with whom we have executed several landmark projects. We have always believed in sharing technical knowledge, technologies and competencies that would contribute to the overall growth and wellbeing of host countries and followed the path of creating In Country Value. This partnership will encompass the right mix of identification capability for concrete opportunities like CO₂ capture, blue/green hydrogen and ammonia, of technology know-how, technical capabilities, global and local execution experience and financial strength for providing holistic solutions to accelerate the transition towards a low-carbon society.”

Yasser Zaghloul, Group CEO of NMDC, declared: “The UAE is committed to taking positive climate change action and drive a robust energy transition strategy for a decarbonized future. This calls for concerted efforts by all organizations to take step up measures to reduce carbon emissions through technologies such as carbon capture and tapping the potential of hydrogen. As a national champion company committed to the nation’s goals, NMDC’s subsidiary NPCC is strengthening efforts to support the nation and the region in energy transition initiatives. The partnership with Technip Energies will further accelerate this.”

Eng Ahmed Dhaheri, CEO of NPCC, said: “Aligned with the market and policy trends, NPCC aims to be a leader in meeting the end-to-end EPC requirements of the energy sector while promoting a culture of sustainability. Having committed to promoting environment best practices, we will continue to focus on strengthening our energy transition strategies through our MoU with Technip Energies, a partner of choice of NPCC for their expertise in the field. We share over three decades of cooperation on numerous mega projects and will continue to share best practices. This strategic MoU will not only accelerate our decarbonisation commitment but also support the nation’s climate change action initiatives and the long-term sustainable development vision.”

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”) traded over-the-counter in the United States.

For further information: www.technipenergies.com.

About NPCC

NPCC (National Petroleum Construction Company), headquartered in Abu Dhabi in the United Arab Emirates (UAE), is a world-class Engineering, Procurement and Construction Company that provides total EPC solutions to both the Offshore and Onshore Oil & Gas sectors.

NPCC is a subsidiary of National Marine Dredging, NPCC provides engineering, procurement, project management, fabrication, installation and commissioning to project owners and operators.

Since its inception in 1973, NPCC has expanded its geographic footprint globally and today operates in Arabian Gulf, South Asia and South East Asia, and has plans to expand its operations to Africa and Caspian region.

NPCC has built strong relationships with leading Operating Companies (OPCOs), National Oil Companies (NOCs) and International Oil Companies (IOCs), and has a team of over 1,200

engineers, based in four engineering centres in Abu Dhabi - UAE, Mumbai and Hyderabad - India, and La Ciotat - France.

NPCC’s state-of-the-art fabrication facility in Mussafah, Abu Dhabi, is set in an area of 1.3 million sq. metres, and the yard can fabricate up to 100,000 metric tonnes (MT) of structural steel annually. The company owns a fleet of 23 offshore vessels equipped with modern facilities to support its shallow and deep-water operations. It can lift structures weighing up to 4,200 MT and is also equipped for laying sub-sea cables and pipelines, up to 66 inches diameter; in water depths from 10 to 2,000 metres.

As of March 2019, NPCC executed more than 1,216 EPC projects, laid over 6,261 km of pipeline and 1,515 km of subsea cables as well as installed more than 1,360 structures.

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. 

Investor relations
Phil Lindsay
Vice-President Investor Relations
Tel: +44 203 429 3929
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Media relations
Stella Fumey
Director Press Relations & Digital Communications
Tel: +33 (1) 85 67 40 95
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Jason Hyonne
Press Relations & Social Media Lead
Tel: +33 1 47 78 22 89
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KENNESAW, Ga.--(BUSINESS WIRE)--The Florida Board of Education announced the post-secondary school Career and Professional Education (CAPE) funding list for the 2021/2022 academic year this August. That list now includes Yamaha Marine University’s Maintenance Certifications, a first among marine outboard manufacturers and a strong incentive for technical schools to offer Yamaha outboard training courses to students.

“Yamaha remains focused on developing qualified, workforce-ready marine technicians to help dealerships build profitable, efficient service departments. A key component of this effort is training and education,” said Gregg Snyder, Marine Training Department Manager, Yamaha U.S. Marine Business Unit. “The inclusion of Yamaha Maintenance Certifications on the CAPE funding list further encourages post-secondary schools in the state of Florida to incorporate marine technician education into their curriculum. Aspiring technicians who complete and pass exams to earn four separate Yamaha Marine Maintenance Certifications will enter the marine industry workforce with the skills and confidence they need to build successful careers. Making this list is a win for students, Yamaha Technical School Partners and Yamaha dealers.”

Florida’s CAPE program fosters a statewide planning partnership between business and education communities to attract, expand and retain targeted, high-value industry for the state. The post-secondary education funding incentivizes schools to offer curriculum that can result in industry-recognized certifications students can earn to secure high-wage, high-demand careers. Once registered students earn a recognized certification, the school receives a performance award from the state to put toward the further development of workforce-ready courses.

The recognition of Yamaha Maintenance Certifications on the CAPE funding list is particularly beneficial for Yamaha Technical School Partners (TSPs) in Florida. Current and aspiring marine technicians can earn four distinct Yamaha Maintenance Certifications: Portable, Midrange, Inline (4 cylinder) and V-engine. TSPs can choose which modules to offer based on the needs of the market in their area. Many Yamaha Technical School Partners use the Maintenance Certification Program in their curriculum to build student proficiency in conducting 20-, 100-, 300-, 500- and 1,000-hour service procedures. Yamaha recommends technicians complete Introduction to Outboard Systems (ITOS) before they complete Yamaha Marine Maintenance Certification exams. Yamaha TSPs throughout Florida currently offer the ITOS curriculum.

“Yamaha continues to implement in-demand, career-enhancing certifications and curriculum for the marine industry to help aspiring technicians prepare for and realize success,” said Jack Seubert, Dean of Marine Science and Technology, The College of the Florida Keys (CFK). “Savvy dealers are more likely to actively recruit marine technicians with recognized certifications, such as the four Yamaha Maintenance Certifications that CFK currently offers.

“In an indirect way, the inclusion of Yamaha certifications on the CAPE list is also a great way for our institution to recruit,” he continued. “When prospective students see we offer the marine courses that include training to prepare students to earn these certifications, and that the technicians who earn them are in high demand for top-paying jobs, they are more likely to enroll. Couple that with the state funding the school can earn from each recorded certification and you’ve got a win-win situation.”

The Yamaha service and government relations teams worked together in the effort to gain CAPE funding list placement. To meet the Florida Board of Education qualifications, Yamaha worked with TSPs in Florida to recognize Marine Engine Repair as a formal state occupation.

“The path to CAPE funding presented an excellent learning experience for Yamaha,” said Martin Peters, Division Manager, Government Relations, Yamaha U.S. Marine Business Unit. “The approval of Yamaha Maintenance Certification on this list represents the hard work of two departments working toward the same goal of increasing qualified technicians in the workforce. It’s an achievement we hope to duplicate with similar programs in other states.”

For more information about Yamaha Maintenance Certifications or to locate exam locations and times, please visit ymucertifications.com. To learn more about Technical School Partnerships or training programs offered through Yamaha Marine University, please call (800)-854-4876 opt. 3 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

The 2021/2022 Florida CAPE funding list is available here: https://www.fldoe.org/academics/career-adult-edu/cape-postsecondary/cape-post-industry-cert-funding-list-current.stml.

Yamaha Marine products are marketed throughout the United States and around the world. Yamaha Marine U.S. Business Unit, based in Kennesaw, Ga., supports its 2,400 U.S. dealers and boat builders with marketing, training and parts for Yamaha’s full line of products and strives to be the industry leader in reliability, technology and customer service. Yamaha Marine is the only outboard brand to have earned NMMA^®’s C.S.I. Customer Satisfaction Index award every year since its inception.

REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear. Messaging and data rates may apply.

® 2021 Yamaha Motor Corporation, U.S.A. All rights reserved.

This document contains many of Yamaha’s valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement.

Brad Massey
Communications Manager
Yamaha Marine Engine Systems
Office: (770) 701-3294
Mobile: (470) 277-9024
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Neal Wheaton
Wilder+Wheaton for
Yamaha Marine Engine Systems
Mobile: (404) 317-0698
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TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today its dividend forecast for the first half (ending September 30, 2021) of the current fiscal year ending March 31, 2022 (fiscal 2022).

The company plans to pay an interim dividend of 14 yen per share, as of the record date of September 30, 2021, with due consideration on performance and financial standing in the first half of fiscal 2022. The actual dividend will be declared at the Board of Directors’ meeting when financial results for the second quarter of fiscal 2022 are to be approved.

The year-end dividend, as of the record date of March 31, 2022, is currently undecided.

Cautionary Statement

While the statements herein including the forecast of the Mitsubishi Electric Group are based on assumptions the Group considers to be reasonable under the circumstances on the date of announcement, actual results may differ significantly from forecasts.

Such factors materially affecting the expectations expressed herein shall include but are not limited to the following:

About Mitsubishi Electric Corporation

With 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company recorded a revenue of 4,191.4 billion yen (U.S.$ 37.8 billion*) in the fiscal year ended March 31, 2021. For more information, please visit www.MitsubishiElectric.com
*U.S. dollar amounts are translated from yen at the rate of ¥111=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2021

Investor Relations Inquiries
Investor Relations Group, Corporate Finance Division
Mitsubishi Electric Corporation
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Media Inquiries
Sachiko Masuda
Public Relations Division
Mitsubishi Electric Corporation
Tel: +81-3-3218-2848
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www.MitsubishiElectric.com/news/

HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR) will hold a webcast on Wednesday, October 20, 2021 to discuss the results for the third quarter ending September 30, 2021. The webcast is scheduled to begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). A press release announcing the results will be issued at 7:00 a.m. Eastern Time (6:00 a.m. Central Time).

To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the website following the webcast.

About Baker Hughes:

Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

Investor Relations
Jud Bailey
+1 281-809-9088
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Media Relations
Thomas Millas
+1 713-879-2862
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HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) announces that it gave the required notice under the indenture governing the notes to optionally redeem $500 million in aggregate principal amount of its outstanding 6.625% Senior Notes due 2027 (the “Notes”) on October 6, 2021 (the “Redemption Date”). NRG intends to finance the redemption and associated costs with proceeds from its liquidity facilities. The optional redemption is conditioned upon NRG having sufficient availability under its liquidity facilities to complete such redemption on the Redemption Date. The redemption price will be 103.313% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest on such Notes to the Redemption Date.

A notice of conditional redemption is being sent to all currently registered holders of the Notes by the Trustee, Delaware Trust Company. This press release does not constitute an offer to sell any security, including the Notes, nor a solicitation for an offer to purchase any security, including the Notes.

About NRG

At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future.

Forward-Looking Statements

This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially.

The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included herein should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the SEC at www.sec.gov.

Investors:
Kevin L. Cole, CFA
609.524.4526
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Media:
Candice Adams
609.524.5428
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JENBACH, Austria--(BUSINESS WIRE)--As part of its ongoing commitment to environmental stewardship, INNIO today announced the publication of its inaugural Sustainability Report, “Together for a Sustainable Future.” The theme of this report encompasses engagement of everyone -- with “together” being the key word indicating responsibility of all stakeholders in a journey to shape a sustainable future. The report highlights INNIO’s commitment to instituting a culture of transparency, providing progress updates and direction on INNIO’s global approach to sustainability covering its environmental, social, and governance (ESG) performance for 2020.

In continuing its sustainability journey, INNIO’s leadership and its Sustainability Review Board (SRB) laid out the company’s ESG goals and strategy which included the development and publication of its first Sustainability Report. The report details how INNIO is working responsibly to deliver communities, industry, and the public with access to sustainable, reliable, and economical power while creating and maintaining an innovative, diverse, inclusive, pleasant and safe working environment for its employees.

Further, as INNIO’s Jenbacher and Waukesha products, services and digital solutions help unlock the transition to a carbon neutral future, INNIO’s Sustainability Report provides its stakeholders with indicators on commitment and progress to reducing greenhouse emissions and initiatives around responsible resource management.

In his opening note to the Sustainability Report, INNIO president and CEO, Carlos Lange, laid out key priorities and accomplishments:

Sustainability Goals

“As we continue to implement our enterprise strategy for profitable growth, we are also underlining our commitment to climate challenges and sustainable growth. INNIO’s Sustainability Goals are related to safety, energy and emissions, water, waste, building efficiency, circular economy, jobsite efficiency and sustainability of our products, services and solutions.”

Uninterrupted Access to Products and Services

“Along with our distributors and suppliers, INNIO is working to help ensure uninterrupted access to the products and services that our global customers rely on to support society during these difficult times. The recent COVID-19 global pandemic presented new challenges around the world, and INNIO was designated by many governments as an ‘essential’ enterprise since our products, parts and services support key infrastructure in the supply of natural gas and electrical energy. Customers use our products to provide primary and standby power & heat to homes; essential facilities such as hospitals, utilities, or district heating plants; and other businesses that must continue to operate.”

Technology Leadership: Hydrogen

“In Hamburg, INNIO Jenbacher and HanseWerk Natur recently collaborated to commission the world’s first large-scale gas engine in the 1 MW range capable of running on a variety of hydrogen-natural gas mixtures or on 100% green hydrogen. It’s also the world’s first natural gas engine conversion to hydrogen in the field. Again, INNIO technology is ahead of the game, demonstrating the future-proof nature of the installed base, this time by offering the ability to convert to carbon free, 100% hydrogen capabilities.”

Digitalization

“Through digitalization, we can constantly improve our products’ design and construction in our advanced factories, flawlessly execute our services, and move beyond reactive to predictive data solutions. At our manufacturing plants, we have embraced digitalization and are continuously refining our operations, accelerating innovation and improving our customers’ experience.”

The Sustainability Report publication follows recent sustainability activities that include INNIO’s recognition by EcoVadis with a Silver business sustainability rating, and INNIO’s joining the United Nations Global Compact. Each of these efforts underscores INNIO’s holistic and structured approach to incorporating sustainability across the company, considering the environment, employee development, health and safety, diversity and inclusion, as well as corporate responsibility.

INNIO’s Sustainability Report was developed in collaboration with external ESG advisors and subject matter experts as well as internal directors from diverse backgrounds.

About INNIO

INNIO is a leading provider of renewable gas, natural gas, and hydrogen-rich solutions and services for power generation and gas compression at or near the point of use. With our Jenbacher and Waukesha gas engines, INNIO helps to provide communities, industry and the public access to sustainable, reliable and economical power ranging from 200 kW to 10 MW. We also provide life-cycle support and digital solutions to the more than 53,000 delivered gas engines globally, through our service network in more than 100 countries. We deliver innovative technology driven by decarbonization, decentralization, and digitalization to help lead the way to a greener future. Headquartered in Jenbach, Austria, the business also has primary operations in Welland, Ontario, Canada, and Waukesha, Wisconsin, U.S. For more information, visit the company's website at www.innio.com. Follow INNIO on Twitter and LinkedIn.

At INNIO, we recognize that the growth of global economies and the industrialization that has accompanied this growth are directly impacting the future of our planet. We agree with the goals of the Paris Agreement—to stop global warming and lower temperatures to pre-industrial era levels by 2050. That’s why we took important steps in 2020 to address INNIO’s sustainability strategy, diving into the material issues we identified as the touchpoints to our customers and stakeholders. Our society faces unprecedented economic, environmental, social, and cultural challenges, and we are convinced that sustainability is the key to transforming these challenges into opportunities. Our sustainability strategy recognizes INNIO’s social and environmental responsibility. We must act now on this responsibility.

INNIO’s Sustainability Report is a non-financial disclosure presented for calendar year 2020.

For any questions related to the report please contact:
Susanne Reichelt
INNIO Media Relations
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NEW YORK--(BUSINESS WIRE)--Graycliff Partners LP announced today that it has completed the acquisition of Electro-Mechanical Corporation (“EMC”), a manufacturer of engineered electrical equipment sold into utility and industrial end markets.

Based in Bristol, VA and founded in 1958 by Frank Leonard, EMC manufactures medium voltage electric equipment, primarily switchgears, transformers and custom systems that serve as critical components for utility and industrial power infrastructure. The company’s products are sold to electrical utilities, renewable energy generators, mining operators, and general industrial users of power. The company has been family owned for over 60 years, and goes to market under two leading brands, Federal Pacific and Line Power.

“The EMC team is very excited to partner with Graycliff for this next chapter in the company’s history,” said Howard Broadfoot, EMC’s CEO. “EMC has established itself as a trusted partner in the electrical distribution business, and we are excited to leverage Graycliff’s guidance and resources to further grow the company in the years to come.”

“EMC has an impressive history and strong reputation as a key player in electrical power distribution infrastructure. We are excited to honor the legacy of Frank Leonard and continue to drive growth at EMC alongside Howard and his team,” said Andrew Trigg, Managing Partner at Graycliff.

EMC is the fourth investment in Graycliff’s fourth private equity fund, Graycliff Private Equity Partners IV LP. The current fund is a continuation of the firm’s strategy of making equity investments in lower middle market companies, with a focus on acquiring and/or partnering with founder and family-owned businesses in the manufacturing, business services, and value-added distribution sectors.

About Graycliff Partners LP

Graycliff Partners is an investment firm focused on making lower middle market investments, typically in manufacturing, business services and value-added distribution businesses. Through dedicated equity and credit funds, Graycliff provides capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.

Ryan Supple
Graycliff Partners LP
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212-300-2913

New capital will allow the company to further enhance its existing solar platform, continue growth into new market segments and facilitate international expansion.

SEATTLE--(BUSINESS WIRE)--Omnidian, the only nationwide provider of residential, commercial and industrial solar system performance plans and performance guarantees, announced today that it has secured a $33 million Series B capital raise. The round was led by Activate Capital. Additional round participants included Liberty Mutual Insurance and WIND Ventures, the strategic venture capital arm of Chilean multinational energy firm Copec, as well as existing investors City Light Capital, IA Capital, Evergy Ventures, Avista Development Inc., Congruent Ventures, Centrica, National Grid Partners, Energy Foundry and Blue Bear Capital.

“This successful raise is a validation of what Omnidian has accomplished over the past four years. Residential and commercial solar are moving into mainstream adoption and with that comes demand for a higher level of service and assurance that a customer’s system is operating as expected,” said Mark Liffmann, founder and CEO of Omnidian. “Our new capital partners share our vision of providing solar energy customers with a lower cost of ownership, less risk and a transformational customer experience. The capital will also enable expansion into new asset classes including energy storage, EV charging and HVAC.”

“Omnidian is a vital technology for the energy transition making the adoption of distributed energy resources like solar easier for homeowners and businesses,” said Raj Atluru, Managing Director, Activate Capital. "The renewables industry has spent the last two decades investing trillions of dollars into clean energy generation. Omnidian's intelligent asset management platform treats these IoT connected assets as critical infrastructure, ensuring the rapid adoption of renewable generation and the resiliency of our grid,” added Eric Meyer, Vice President. “The Omnidian team is world class and brings decades of insight into performance management that will accelerate the adoption of these critical technologies."

“The world is embarking on a major energy transition and Omnidian’s platform is an example of the type of technology that is needed to help consumers and businesses alike understand and maximize the performance of their clean energy systems,” said Liberty Mutual Investments Managing Director of Energy Transition & Infrastructure TJ Gaylord. “The Omnidian team continues to earn accolades for its remote monitoring, performance plans and overall level of customer satisfaction. We are excited to work alongside Omnidian as they move forward to their next phase of growth, which is aligned with our strategy of investing in alternative energy and supporting the energy transition.”

The new capital comes at a time of rapid growth for Omnidian. In addition to its performance plans for solar, the firm has launched a similar service for energy storage, both at the residential and C&I level. In the future, Omnidian’s machine learning software will monitor other IoT sensored energy products. The firm currently employs more than 100 professionals across 16 states and expects that number to grow significantly over the next several years. It will also grow the more than 1,700 megawatts it currently manages for customers. Finally, this raise will enable international expansion for the company.

The raise also comes at a time when the solar market’s growth trajectory is accelerating, increasing the need for a better experience at the customer level and the deployment of more capital at the institutional level.

“Customer peace of mind is delivered by our powerful machine learning platform ensuring that in-home or commercial energy infrastructure will deliver on its promise,” Liffmann added. “Asset performance is also key to enabling deployment of the billions of dollars in new infrastructure capital that has been earmarked for residential and especially commercial solar. I expect commercial solar’s growth to exceed most commercial solar market forecasts and Omnidian’s performance guarantees will be key to unlocking much of that capital.”

About Omnidian:

Omnidian’s mission is to protect and accelerate capital invested in clean energy through innovative technology, passionate teams and an amazing customer experience. Our state-of-the art proprietary technology provides continuous monitoring for residential and commercial solar energy systems and portfolios. As more IoT enabled clean energy technology is deployed in homes and businesses, Omnidian’s software platform will continue to provide the industry’s only end-to-end performance assurance, including proactive service alerts and field service for the life of residential and commercial solar energy systems, battery storage and more. We give consumers peace of mind, and we liberate the capital and resources of large-scale asset portfolios for our Fortune 1000 clients. For more information, visit www.omnidian.com.

About Activate Capital

Activate Capital is a leading growth equity partner to companies building smart, sustainable systems across the energy, transportation, and industrial technology markets. The firm aims to generate best-in-class financial returns while contributing to this vision of the future by investing in entrepreneurial management teams in high growth companies using technology to make the world more efficient, intelligent, and sustainable. The partners have collectively invested over $1 billion across their target sectors, resulting in 30 successful exits through IPO and M&A.

About Liberty Mutual Insurance

At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.

In business since 1912, and headquartered in Boston, today we are the sixth largest global property and casualty insurer based on 2020 gross written premium. We also rank 71^st on the Fortune 100 list of largest corporations in the U.S. based on 2020 revenue. As of December 31, 2020, we had $43.8 billion in annual consolidated revenue.

We employ over 45,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.

For more information, visit www.libertymutualinsurance.com

About WIND Ventures

Based in San Francisco, WIND Ventures is the strategic venture capital arm of Copec, one of the leading energy companies in Central and South America and one of the most valued brands throughout Latin America. WIND Ventures leverages Copec’s significant resources to accelerate growth, primarily within Latin America, for startups and scaleups across the world within the new mobility, energy and retail sectors. Visit windventures.vc or follow us on Linkedin and Twitter

Media
Antenna Group for Omnidian, Inc.
Nia Evans
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AECOM signs MOU focused on using green hydrogen to support post-earthquake recovery and growth in the country’s central Apennines region

LOS ANGELES--(BUSINESS WIRE)--AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced it has signed a memorandum of understanding (MOU) with Spanish renewables group Iberdrola, and Italian partners Cinque International and Ancitel Energy and Environment, to upgrade Italy’s historic Apennine diesel railway with hydrogen trains. This project aims to aid economic growth for the Apennine region.

“We are excited to bring our technical expertise in the development of smart cities and new energy to this project, working with our partners to progress this first-of-a-kind railway for Italy. As leaders in environmental, social and governance (ESG), our work to develop these new energy projects will support the European Union’s net-zero carbon targets,” said Troy Rudd, AECOM’s chief executive officer. “It will also drive innovation in our industry and attract people and business back to this isolated, inland area of Italy that has been impacted by seismic events in recent years. The aim of this ambitious project is to find ways to build back sustainably, using new energy technology to create job opportunities and boost economic growth for communities in the region.”

AECOM and its partners are working on four projects to support sustainable economic recovery in the region, which was badly affected by earthquakes in 2009 and 2016 and has suffered from decades of depopulation. The first project is the upgrade of the 300km Apennine line, which will be one of Italy’s first hydrogen railways. The line runs from the town of Sansepolcro in the northern province of Arezzo, to Sulmona, a city in the central province of L'Aquila. The focus on this line is strategically important because it connects a number of inland areas through four central regions. A portion of the line has not been electrified, currently using diesel trains that will be replaced as part of the program.

The MOU also includes pre-feasibility work for a new rail line powered by green hydrogen linking Rome with Ascoli Piceno, a province in the Marche region. The third project is to assess the potential for diffused green hydrogen manufacturing activity in the region. The final project will look at ways to apply new energy and environmental technologies in post-earthquake reconstruction.

The projects align with the aims of the European Clean Hydrogen Alliance, a European Commission-led group looking at an ambitious deployment of hydrogen technologies by 2030 to support the EU’s commitment to reach carbon neutrality by 2050. In July 2021, the Apennine Railway project was pre-selected by the European Commission in its framework of activities for the European Clean Hydrogen Alliance, which aims to build a pipeline of viable investment projects and scale up the deployment of green hydrogen in Europe.

Under the MOU, AECOM is leading engineering and program management, with Iberdrola acting as industrial partner.

About AECOM

AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.2 billion in fiscal year 2020. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.

Media Contact:
Brendan Ranson-Walsh
Vice President, Global Communications & Corporate Responsibility
1.213.996.2367
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Investor Contact:
Will Gabrielski
Senior Vice President, Finance & Investor Relations
1.213.593.8208
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448MWdc Project marks iSun’s second foray into the fast-growing utility-scale EPC market.

BURLINGTON, Vt.--(BUSINESS WIRE)--$isun #cleanenergy--iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50 years of construction experience in solar, electrical and data services, announced today that Fusion Renewable has selected the company for turnkey professional, development, and EPC services.

Highlights

• Projects encompass interconnect applications across 3 locations in Alabama, equaling 448MWdc of solar production - enough to power over 85,000 homes.
• Project financing to be provided by Fusion Renewable.
• Total engineering, procurement, and construction (‘EPC’) and renewable energy credits (‘REC’) contracts could exceed $500 million.
• Project includes a $7 million development and professional services contract, commencing immediately.
• Notice to proceed (‘NTP’) on the first EPC project expected in 2022.

In April, iSun acquired the intellectual property of Oakwood Construction Services, enabling entry into the rapidly growing solar development services market. This is the second award executed by iSun’s Utility division, bringing total contract awards to $8.25 million in 6 months.

“This initiative is in line with iSun’s commitment to help accelerate the adoption of clean energy at every scale, from providing EV Charging, installing residential systems to large utility-scale solar systems,” commented Jeffrey Peck, iSun’s Chief Executive Officer. “Our acquisition of Oakwood construction in April of this year, and the launch of iSun Utility marked our initial entry into both the Utility scale sector and the professional and development services marketplace. In the short time since, we’ve won contracts for over $8.25 million

in development and professional services fees and have been granted EPC rights for nearly 566MWdc of projects, with potential future revenues of more than $500 million. These results underscore the efficacy of our strategy as well as the quality of the iSun Utility team that we have in place to execute on our strategy. We anticipate construction to begin starting in 2022.”

The projects were structured by Fusion Renewable, including siting, 2,600 acres of land control and diligence, and will be financed and owned by a joint venture between Israeli public companies.

Niv Sarne, Fusion Renewable’s CEO noted, “We are excited to launch our projects portfolio with iSun. This is a significant opportunity and the collaboration between the two companies has created value and led to further opportunities in the renewable sector. We are looking forward to continue working with iSun and strengthening the relationship between the two companies.”

The Altmayer Limited Partnership (“ALP”) is acting as an active development partner in the project. Daniel L. Rabinowitz, a Director of Altmayer Management, Inc., commented: “ALP is very pleased and proud to be a part of this significant renewable energy venture in South Alabama. We believe that it will provide important benefits for South Alabama and for the communities of western Mobile County. We are a longtime Mobile-based enterprise, and we are committed to entering into constructive partnerships with Mobile educational and job training institutions to provide pathways to the permanent solar energy jobs that will be created by the new facilities and look forward to the economic development that will ensue as the project moves into construction and comes online.”

About iSun Inc.

Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company has provided solar EPC services across residential, commercial & industrial, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun’s often repeat client base includes leading institutions from the U.S. Federal Government, to municipalities, universities, independent power producers, utilities, Fortune 500 and financers In April, iSun was ranked the 3rd largest domestic commercial and industrial solar engineering, procurement and construction (“EPC”) company according to Solar Power World. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.

Forward Looking Statements

This press release includes 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, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of

1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.

All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.

IR Contact:
Tyler Barnes
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802-289-8141