DUBLIN--(BUSINESS WIRE)--The "Wood Pellet Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The global wood pellet market is estimated to be USD 10.52 billion in 2020, and it is expected to reach USD 15.63 billion by 2026, at a CAGR of 7.28% during 2021-2026.

Companies Mentioned

• Enviva Partners LP
• AS Graanul Invest
• Drax Group Plc
• Fram Renewable Fuels LLC
• Segezha Group JSC
• Lignetics Inc.
• Biopower Sustainable Energy Corp.
• Asia Biomass Public Company Limited

Key Market Trends

Wood Pellets for Heating Application to Dominate the Market

• Pellets are a solid biomass fuel, primarily produce from wood residues and agricultural by-products like straw. Specific advantages of pellets as compared to unprocessed biomass include standardized properties, high energy content, and high density.
• Wood pellets for heating applications are primarily used in residential and commercial sectors for food, cooking and grilling, and supplying heat to homes. Since the cost of pellets remained cheaper than that of other fuels for a long time, it becomes a more economic option, addressing the primary concern of the residential and commercial sectors. In addition to this, in 2020, the wood pellets due to oversupply experienced a sharp decline in their prices.
• In 2019, wood pellet consumption for heating application was majorly observed in Europe, followed by North America and Asia.
• As a renewable energy source, wood pellets have received subsidies and incentives from the governments in many countries, and many countries either launched or updated their policies and schemes related to wood pellets for heating applications in recent years.
• For instance, in January 2021, a new Wood and Pellet Heater Investment Tax Credit (ITC) came into effect in the United States, under which consumers buying highly efficient wood, or pellet stoves or larger residential biomass heating systems can claim a 26% tax credit that is uncapped and based on the full cost (purchase and installation) of the unit.

Europe to Dominate the Market

• In Europe, EU countries are a significant producer as well as consumer of wood pellets. The EU currently has approximately 25 million metric tons of wood pellet production in place, with capacity use at 74 %. As of 2019, the EU has registered a modest 5% increase in production.
• Europe's demand for wood pellet is expected to increase by 30-40% between 2021 to 2026. Europe represents more than 50% of global pellet demand. As of 2020, European nations' use of pellets includes residential heating (40%), power plants (36%), commercial heating (14%), and combined heat and power plants (10%). Moreover, pellets have also made their way into coal conversion projects in local authority or public administration buildings such as schools and offices.
• As of 2020, most of the co-firing power stations have either closed or converted since these early projects, with several making a move to 100% wood pellets for fuel. The largest of these is Drax Power Station in North Yorkshire, which has converted four of its six 65 MWe generating units to run exclusively on biomass and is currently evaluating options for its remaining two coal-fired units.
• As of 2020, sawmill residues make up 85% of the mix for wood pellet production, followed by roundwood (13%) and recovered wood (2%). Although the wood residues are likely to remain an important feedstock, especially in northern and western Europe, they will not be sufficient to meet the future fiber demand from the growing wood pellet sector.
• As a result, Europe will likely draw upon the experience of North American producers, who have shown it is possible to use more forest residues as fiber furnish. Additionally, the countries in the region are likely to increase their wood pellet imports as well.

Key Topics Covered:

1 INTRODUCTION

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Market Size and Demand Forecasts in USD billion, till 2026

4.3 Recent Trends and Developments

4.4 Government Policies and Regulations

4.5 Market Dynamics

4.5.1 Drivers

4.5.2 Restraints

4.6 Supply Chain Analysis

4.7 Industry Attractiveness - Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 Application

5.1.1 Heating

5.1.2 Power Generation

5.2 Geography

5.2.1 North America

5.2.2 Europe

5.2.3 Asia-Pacific

5.2.4 South America

5.2.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/3bj3x0

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

For EST.'S Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

ATHENS, Greece--(BUSINESS WIRE)--Danaos Corporation (the "Company") (NYSE: DAC) today announced that it has exercised its option to acquire the remaining equity interests in its joint venture Gemini Shipholdings Corporation ("Gemini"). The purchase price for the 51% of Gemini not already owned by the Company is $86.7 million in cash, while the net cash outflow for the Company will be approximately $72.3 million, which is the purchase price net of $14.4 million of the Gemini cash balance on June 30, 2021.

Gemini owns a fleet of five containerships, with an aggregate capacity of 32,531 TEU, each of which is employed on a time charter. Contract coverage for the Gemini vessels stands at 100% for the next 12 months while the weighted average contract duration of the Gemini fleet is 3.8 years, weighted by contracted revenues.

Upon completion of the acquisition, the Company will own 100% of Gemini and consolidate Gemini within its financial results. The consolidation of Gemini will increase the Company's contracted revenue by approximately $160 million and the Company's contracted EBITDA by approximately $117 million in total. For the next 12 months, all of Gemini's vessels are employed on time charters and expected to contribute contracted EBITDA of $31 million through June 30, 2022. Gemini's total debt and net debt, which will be assumed and consolidated by the Company, was $45 million and $30.6 million, respectively, as of June 30, 2021.

Gemini has a solid credit and business profile with a Net Debt / NTM EBITDA ratio of 1x and strong contract coverage which provides significant stability and visibility.

Clarksons Platou Securities acted as financial advisor to an independent committee comprised solely of independent and disinterested members of the Company's Board of Directors, which approved the transaction.

About Danaos Corporation

Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our fleet of 65 containerships aggregating 403,793 TEUs, including the five vessels owned by Gemini Shipholdings Corporation, ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Our fleet is chartered to many of the world’s largest liner companies on fixed-rate charters. Danaos Corporation’s shares trade on the New York Stock Exchange under the symbol “DAC”.

Forward-Looking Statements

Matters discussed in this release may constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements reflect the current views of Danaos Corporation (including subsidiaries unless indicated or the context requires otherwise, the “Company,” “we,” “us,” and “our”) with respect to future events and financial performance and may include statements concerning our operations, cash flows, financial position, including with respect to vessel and other asset values, plans, objectives, goals, strategies, future events, performance or business prospects, changes and trends in our business and the markets in which we operate, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the impact of the novel coronavirus 2019 (“COVID-19”) pandemic and efforts throughout the world to contain its spread, including effects on global economic activity, demand for seaborne transportation of containerized cargo, the ability and willingness of charterers to fulfill their obligations to us, charter rates for containerships, shipyards performing scrubber installations, drydocking and repairs, changing vessel crews and availability of financing, the effects of its debt refinancing transactions, the Company’s ability to achieve the expected benefits of its refinancing transactions and comply with the terms of its credit facilities and other agreements entered into in connection with the such refinancing, the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydocking, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by Danaos Corporation with the U.S. Securities and Exchange Commission.

The forward-looking statements and information contained in this announcement are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Company:

Evangelos Chatzis
Chief Financial Officer
Danaos Corporation
Athens, Greece
Tel.: +30 210 419 6480
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Iraklis Prokopakis
Senior Vice President and Chief Operating Officer
Danaos Corporation
Athens, Greece
Tel.: +30 210 419 6400
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Investor Relations and Financial Media

Rose & Company
New York
Tel.: 212-359-2228
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Illinois residents from underrepresented groups secured jobs in 2020 after training enabled by Future Energy Jobs Act

CHICAGO--(BUSINESS WIRE)--#diversity--Training focused on increasing representation of people of color, women and other groups in Illinois’ clean energy workforce produced in 2020 the highest number of graduates and job placements since the programs began in 2017. The annual report on training programs funded by the Future Energy Jobs Act (FEJA) was submitted by ComEd today to the Illinois Commerce Commission and showed 94 percent of trainees, or 684, graduated and secured employment, up from 72 percent, or 433, in 2019.

“Trainers and participants demonstrated remarkable dedication to stay on course and achieve their goals last year despite the unprecedented challenges of the pandemic,” said ComEd CEO Joe Dominguez. “Social service agencies, industry and community groups are opening doors to new clean energy jobs for members of underrepresented groups. The program has established high standards and is delivering on its promises.”

The training programs are scheduled to run through 2029 and are supported through three successive $10 million funding periods. The first installment was made in 2017, and future payments are scheduled to be made in 2021 and 2025.

Enacted in 2016, FEJA allows ComEd to connect with partner social service agencies, or grantees, who conduct the training. Trainees graduated from one of three programs: the Solar Pipeline, the Craft Apprenticeship led by the International Brotherhood of Electrical Workers (IBEW) Renewable Energy Fund, or the Multicultural Job Training program. The 2020 graduates accepted a broad range of positions and promotions, including solar panel installers and technicians, energy brokers, site surveyors and training instructors.

The 728 participants in 2020 included 459 people of color and 129 women; 359 live in environmental justice communities where residents are exposed to potential environmental and health risks; 64 trainees were formerly involved with the justice system and nine are foster alumni.

The Solar Pipeline program had 113 trainees, and 85 percent of those eligible were offered jobs after completing solar bootcamp and lessons in power industry skills, alternative energy, OSHA regulations, financial literacy, math, and career guidance. Training was implemented by Elevate Energy, Illinois Central College, OAI, Inc. and Safer Foundation.

All 427 trainees in the IBEW program graduated and 99 percent secured employment; 135 reside in environmental justice communities, and 42 percent are people of color. IBEW training includes electric industry trades and skills, introduction to solar and “train-the-trainer” programs delivered by IBEW locals at high schools across Illinois. In fall of 2020, IBEW launched two new programs with Daley College and Triton College; it plans to replicate the Renewable Energy Technology program at Triton College and other Illinois community colleges.

There were 188 participants in the Multicultural program in 2020, up from 130 in 2019. Eighty-two percent graduated and 78 percent were offered jobs. The community-based training programs were implemented by Chicago Urban League, National Latino Education Institute (NLEI), ASPIRA of Illinois and Austin Peoples Action Center. The program is also supported by multicultural organizations that serve contractors, including Chatham Business Association and Hispanic American Construction Industry Association (HACIA).

The FEJA training programs overcame numerous challenges stemming from the pandemic. In mid-March, Illinois’ shelter-in-place orders required FEJA grantees to temporarily close their physical locations, requiring structural changes and additional services for participants. NLEI partnered with Comcast to provide computers and internet access, and HACIA implemented computer training.

Grantees who receive funds and implement the job training programs partner with the Safer Foundation, Salvation Army, U.S. Probations and Parole, the Illinois Department of Human Services, aldermanic offices throughout Chicago and many social service organizations for recruitment of and outreach to potential participants.

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.

ComEd Media Relations
312-394-3500

AKRON, Ohio--(BUSINESS WIRE)--$BW #carboncapture--Babcock & Wilcox (B&W) (NYSE: BW) Environmental announced today that it will support Amager Resource Center’s (ARC) application for more than €120 million ($140 million USD) in European Union funding to build an advanced carbon dioxide (CO₂) capture facility at ARC’s Amager-Bakke (Copenhill) waste-to-energy facility in Copenhagen, Denmark.

B&W has submitted a letter of support for ARC’s funding application to the E.U.’s Innovation Fund and intends to collaborate closely with Italy-based Saipem and Denmark-based Novozymes to develop the project if funding is approved and ARC selects the team’s proposal.

B&W will utilize its significant operational and engineering knowledge of the facility’s process systems as well as its SolveBright^™ regenerable solvent technology to facilitate an integrated design. B&W previously designed and supplied the combustion and emissions control systems, including the advanced DynaGrate^® waste-to-energy combustion grate, for the state-of-the-art Copenhill plant.

“B&W’s ClimateBright^™ decarbonization technologies, including our SolveBright regenerable solvent process, have positioned us as a clear leader in combatting greenhouse gas emissions and climate change worldwide,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “We’re excited to build on our strong relationship with ARC and leverage our market-leading technology to support its funding application for this important project. We’re also pleased to help Copenhagen meet its objective to become the first carbon-neutral world capital by 2025.”

As part of the ClimAid Copenhagen initiative, ARC announced plans to install CO₂-capture technology at Copenhill and capture and sequester 500,000 tonnes of CO₂ annually.

“It is crucial that the private sector invests in the green transition. ARC is pleased that B&W – with their significant insights to the plant as the technology provider and O&M (operations and maintenance) supplier – has announced its dedication to maturing carbon capture by developing enzyme-accelerated methods to capture CO₂,” said Jacob H. Simonsen, Chief Executive Officer at Amager Resource Center. “B&W’s CCS technology (SolveBright), together with developing enzyme-accelerated alternatives to traditional methods of carbon capture, will help to build knowledge and can potentially make the process more effective and sustainable, resulting in reduced cost for the green transformation. It is in the interest of ARC, Denmark and the global climate.”

SolveBright technology is part of B&W’s complete suite of ClimateBright decarbonization technologies and was developed by B&W in conjunction with university researchers. The patented technology was successfully piloted by B&W, in addition to being selected by the U.S. Department of Energy to be the first technology used by the U.S. National Carbon Capture Center’s scrubbing system.

To learn more about B&W’s ClimateBright decarbonization technologies, please visit babcock.com/decarbonization.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at www.babcock.com.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to funding for, and B&W’s potential participation in, the building of an advanced carbon dioxide (CO₂) capture facility at ARC’s Amager-Bakke (Copenhill) waste-to-energy facility in Copenhagen, Denmark. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Focus on sustainability reflected in decision to exit new-build coal market

OVERLAND PARK, Kan.--(BUSINESS WIRE)--Engineering, construction and consulting leader Black & Veatch today announced the availability of its inaugural sustainability report. The report details the company’s efforts across seven environmental, social and governance commitment areas aligned with the United Nations Sustainable Development Goals (SDGs). Progress towards each commitment is detailed across 2020, a year defined by the COVID-19 pandemic, racial tensions across communities in the United States and growing urgency to decarbonize our planet’s economies highlighted in the Company’s decision to exit the new-build coal power market.

Embracing the concept of Accelerate Zero, Black & Veatch’s sustainable management strategy reflects the priorities of the company’s employee-owners to address a range of business practices, including carbon emissions, water use, diversity, equity and inclusion, anti-corruption and safety. As part of its commitments, Black & Veatch also began piloting new Sustainable-by-Design procedures to implement through every stage of clients’ projects, systematically reducing the negative impacts and increasing the positive impacts across the economic, social and environmental dimensions of the infrastructure lifecycle.

“Our greatest opportunity to create a more sustainable world is through the infrastructure we deliver for our clients,” said Steve Edwards, Black & Veatch’s CEO. “However, it is not enough to simply look externally. In examining the technology and infrastructure solutions we offer we must also examine our company and our operations. In doing so, we see a holistic approach to sustainability that can deliver greater benefits for our clients, professionals and the communities where we live and work.”

With sustainability embedded into the company’s Mission statement, 2023 Strategy and client solutions, Black & Veatch’s Accelerate Zero program achieved much progress and many highlights including:

• Reducing recordable incident rates by more than 30 percent at construction sites compared to 2019, and established the NEXT Coalition, a group of leading engineering and construction peer-companies, to create safer, healthier and more sustainable approaches to construction.
• Achieving a perfect score of 100 for the second consecutive year on the Human Rights Campaign’s Corporate Equality Index.
• Taking a public stand on racism, rebooting its Diversity, Equity and Inclusion program, and launching a successful “Conversations of Understanding” series attended by more than half of all Black & Veatch professionals.
• Stopping participation in coal-fueled power design and construction while focusing further on solutions to help transform the energy industry, including helping clients reduce dependence on coal power assets and minimize the impact of those assets to the environment.
• Starting work on what is set to be the first hydrogen-capable combined cycle power plants in the United States.
• Launching a dedicated environmental business unit to help companies navigate increasingly complex environmental regulation and their own sustainability commitments.
• Incubating and guiding five new-to-market technologies to commercial sites through BV’s Ignite^x COVID-19 Accelerator, a collaboration with startups and other innovators to expedite solutions to soften COVID-19’s impact on communities.
• Refreshing the governance structure of BV Foundation, including publications of its first annual report, and donating $1.55 million through 150 grants.

The Black & Veatch 2020 Sustainability Report can be found here.

Editor’s Notes:

• Read about Black & Veatch’s Sustainability Strategy here.
• Follow the links to learn about BV solutions across sustainability, decarbonization, COVID-19 and hydrogen.
• Black & Veatch signed three United Nations pledges in 2020 – the Global Compact, the CEO Water Mandate and the Caring for Climate. The company also conducted its first materiality assessment in 2020.

About Black & Veatch

Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow us on www.bv.com and on social media.

MELINA VISSAT | +1 303-256-4065 P | +1 617-595-8009 M | This email address is being protected from spambots. You need JavaScript enabled to view it.
24-HOUR MEDIA HOTLINE | +1 866-496-9149

Jim Park and the Compliant Directors are Blatantly Seeking to Distract from What Really Matters – the Need for a More Independent Board that Will Act in the Best Interests of All Shareholders

Mr. O’Shaughnessy Refutes GeoPark’s Numerous False Claims, Attempts at Revisionist History and Specific Mischaracterizing of Mr. O’Shaughnessy’s Pledged Shares – Which He is Committing to Eliminate if Reinstated to the Board

Shareholders Should Vote AGAINST Four Company Nominees at Upcoming Annual Meeting

WICHITA, Kan.--(BUSINESS WIRE)--Gerald O’Shaughnessy, the co-founder, former Chairman and second largest shareholder of GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK) today issued the below statement setting the record straight regarding numerous false claims, mischaracterizations and attempts to distract shareholders published today by GeoPark’s Board of Directors:

“It is disappointing that the current GeoPark Board has resorted to a campaign of misinformation instead of engaging in an honest debate around what really matters: how best to ensure the future success of the Company and maximizing returns for all its shareholders. It is extremely telling that in the more than 40 pages of material published by the Board today, not once do they address the strategic inflection point and future challenges GeoPark is facing.

As the second largest investor in the Company, my interests are fully aligned with those of my fellow shareholders. This is why I believe it is imperative to make clear the following:

• The claim that my pledging of shares was part of the rationale for my removal from the Board is false – the pledged shares were never raised with me in connection with the ultimatum that I resign or be removed from the Board. This is a blatant attempt to rewrite history and distract from the real issues at hand that I have raised, as the Board well knows given our correspondence. Further, the Company’s charges of a “lack of transparency” regarding my pledged shares is simply untrue given they have been a matter of public record.

• I was always in compliance with the Board’s policy around pledging shares and only pledged shares to help the Company’s IPO – almost all of the 5 million shares currently pledged by me are the result of financing arrangements put in place by me and my family in support of our $20 million investment into the Company during its 2014 initial public offering (IPO). The Company, through the procedures established by Pedro E. Aylwin as Director of Legal and Governance, has always been aware of these arrangements and they also know that the IPO likely would have failed without my family’s investment in the IPO.
  
  The Company’s claims that I neglected to address Board requests regarding my pledged shares are completely false. The bottom line is that, while serving on the Board, I remained always in full compliance with the Board’s share pledging policy and we had what I thought was a completely open and constructive dialogue about the matter. Earlier this year, as the Board sought to implement a new Pledging Policy, we had reached an understanding that, given the circumstances in which they were incurred, my historical pledges would become subject to this new policy over a four-year period.

• If reinstated to the Board, I will commit to have my pledges released and paid off in full within a year – I am happy to simply remove the distraction put forward by the GeoPark Board. My pledged shares are securing less than $25 million in debt. The reality is that I have been fortunate to have a very successful career and that dollar amount represents a de minimis portion of my personal net worth.

• GeoPark’s claims about me resigning are not accurate – in 2020, I became overwhelmingly frustrated with Jim Park and his allies’ maneuvers to block one idea after another that I raised to improve the strategy of the Company and its corporate governance and to increase value for shareholders. As a result I did submit my resignation – which was never accepted or implemented. I reconsidered this move after being implored to do so by other board members. The suggestion that I submitted my resignation multiple times is simply false, and leaving out that I was urged to rejoin is a glaring omission.

• Any discussion I had with potential third parties was at the request of my fellow directors – the accusation that I in any way “circumvented” the Board is false and offensive. As I have publicly stated now numerous times, I was asked by certain GeoPark directors to maintain discussions with certain parties who had approached me directly regarding certain potential business transactions. The claim that I went around the Board is Mr. Park attempting to distract from the fact that it became clear in these discussions that Mr. Park’s perceived insistence on continuing to lead any resulting entity would be a major impediment to any potential value-maximizing transaction.”

***

A vote AGAINST four incumbent directors is a vote to send a message that change is needed on the Board at GeoPark that will benefit all of the Company’s shareholders. You can vote AGAINST these directors either by voting on GeoPark’s proxy card, or by voting on the BLUE proxy card included in these materials.

VOTE AGAINST FOUR GEOPARK DIRECTOR NOMINEES TO SIGNAL THAT YOU DEMAND CHANGE IN ORDER TO PROTECT YOUR INVESTMENT

Investors:
D.F. King & Co., Inc.
Edward McCarthy / Richard Grubaugh
(212) 269-5550
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media:
Sloane & Company
Dan Zacchei / Joe Germani
This email address is being protected from spambots. You need JavaScript enabled to view it. / This email address is being protected from spambots. You need JavaScript enabled to view it.

ADDISON, Texas--(BUSINESS WIRE)--#airlines--We are quite excited and very pleased to announce about the upcoming 2021 maintenance release of the Cargo Solutions suite. The release includes major technology upgrades and various product specific enhancements across our solutions including Velocity (our revenue management solution), AcceleRate (our pricing solution) and Foresight (our revenue planning and sales budgeting solution).

The 2021 Velocity (Airlines & Cruise Ferry) includes multiple enhancements to the capacity management, allotment management and network management modules to efficiently manage the flight capacities and demand. The forecasting algorithms get a significant boost with newer models and the booking evaluation will also be enhanced with additional business rules. The release also includes an overhaul of the user interface incorporating usability group recommendations, additional performance reports, enhanced mobile solution, system hardening enhancements, and defect fixes.

The 2021 AcceleRate includes route-based contract rates, upselling and cross selling of best available rates mimicking the passenger shopping experience, user interface overhaul based on usability group recommendations and enhanced rating business rules engine. The release also includes additional reports, enhanced mobile solution, system hardening enhancements, and defect fixes.

2021 Foresight includes enhanced router, cost module changes, pandemic based onload / offload station capability, and sales targets functionality and additional reports. The release also includes other user interface overhaul based on usability group recommendations, system hardening enhancements and bug fixes.

Mahesh Vemula, Senior Director of RTS, said, “I am very excited about the upcoming maintenance release that can provide significant benefits to revenue management, network planning and pricing analysts with the introduction of new models and functional enhancements along with technology upgrades.”

Mukundh Parthasarathy, Senior Vice President for Revenue Technology Services, chimed in, “I am super pleased about the direction of the cargo suite road map and the fact that this is determined by the user group of airlines and cruise ferries. The fact that every customer in our user community is a thought leader bodes well for the future RTS.”

We are very proud to deliver to our promise of continuously upgrading our solutions to maintain our industry leadership in these areas. Our services team will be contacting the Client’s project managers to schedule the maintenance release deployment.

About RTS

Revenue Technology Services (RTS) offers solutions and services that help our customers to increase their margins, improve their customer experience, enhance productivity of their employees, and support their growth.

RTS is aimed at the Airline, Cruise Ferry, Rail and Coach verticals that include analytics, software solutions, consulting and education services, operations research capabilities, technology services and IT development support.

RTS is headquartered in Dallas, Texas with offices in London - UK, Cape Town - South Africa and Chandigarh - India.

To learn more about RTS, please visit www.rtscorp.com

Andi McCall
This email address is being protected from spambots. You need JavaScript enabled to view it.

BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina provides a production and operations update related to its properties in Colombia.

As announced on May 17 and June 1, extensive protests and demonstrations across Colombia affected overall logistics and supply chains, restricting GeoPark’s crude oil transportation, drilling and the mobilization of personnel, equipment and supplies in the Llanos 34 (GeoPark operated, 45% WI), CPO-5 (GeoPark non-operated, 30% WI) and Platanillo (GeoPark operated, 100% WI) blocks. These events caused the Company to manage production curtailments beginning May 8.

Overall conditions continued improving during June in the Llanos basin with the Llanos 34 and CPO-5 blocks increasing production to normal levels. Remaining blockades restricting the Company’s operations in the Putumayo basin were lifted last week, thus allowing GeoPark to resume production in the Platanillo block, that was shut in since May 12.

Drilling and field operations are also in full activity with four drilling rigs (three of them operated) and two workover rigs in service in the Llanos basin – as well as with facilities expansion and construction underway.

GeoPark’s consolidated oil and gas production is currently at 38,000-39,000 boepd, compared to an average production of 38,131 boepd in 1Q2021. Even with the protest-driven curtailments, the Company’s consolidated oil and gas production is expected to average approximately 36,500 boepd in 2Q2021. More detailed information on production and the work program will be provided in the upcoming 2Q2021 operational update to be released in mid-July.

Since the start of the demonstrations, GeoPark has successfully planned and implemented a wide range of alternative logistics to minimize curtailments, accelerate the resumption of drilling and maintenance activities and provide continued support to field teams and local communities.

NOTICE

Additional information about GeoPark can be found in the “Investor Support” section on the website at www.geo-park.com.

Rounding amounts and percentages: Certain amounts and percentages included in this press release have been rounded for ease of presentation. Percentage figures included in this press release have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, certain percentage amounts in this press release may vary from those obtained by performing the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this press release may not sum due to rounding.

This press release contains certain oil and gas metrics, including information per share, operating netback, reserve life index and others, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies. Such metrics have been included herein to provide readers with additional measures to evaluate the Company's performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION

This press release contains statements that constitute forward-looking statements. Many of the forward- looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.

Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including the protests and demonstrations in Colombia, expected or future production, production growth and operating and financial performance, future opportunities in 2021, our 2021 oil and gas production guidance and work program and our capital expenditure plan. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.

Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).

INVESTORS:

Stacy Steimel
Shareholder Value Director
T: +562 2242 9600
This email address is being protected from spambots. You need JavaScript enabled to view it.

Miguel Bello
Market Access Director
T: +562 2242 9600
This email address is being protected from spambots. You need JavaScript enabled to view it.

Diego Gully
Investor Relations Director
T: +5411 4312 9400
This email address is being protected from spambots. You need JavaScript enabled to view it.

MEDIA:

Communications Department
This email address is being protected from spambots. You need JavaScript enabled to view it.

SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, July 30, 2021 at 11:00 a.m. ET (8:00 a.m. PT).

Conference Call Information:
Date: Friday, July 30, 2021
Time: 11:00 a.m. ET / 8:00 a.m. PT
Dial-in # (Listen-only mode): 646-828-8156 or 800-289-0585
Conference ID #: 8697566

Speakers:
Jay Johnson – Executive Vice President, Upstream
Pierre Breber – Vice President and Chief Financial Officer
Roderick Green – General Manager, Investor Relations

To access the live webcast, visit www.chevron.com.

The meeting replay will also be available on the company website under the “Investors” section.

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.

Media Contact:
Sean Comey
+1 (925) 842-5509

Project ensures long-term gas supply from Gorgon to customers in Australia and Asia

SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today announced that its wholly owned subsidiary Chevron Australia Pty Ltd. (Chevron Australia) as operator and the Gorgon joint venture participants will proceed with the approximately $4 billion (AU$6 billion) Jansz-Io Compression (J-IC) project.

Nigel Hearne, Chevron Eurasia Pacific Exploration and Production president, said J-IC represents Chevron’s most significant capital investment in Australia since the sanctioning of the Gorgon Stage 2 project in 2018.

“Using world-leading subsea compression technology, J-IC is positioned to maintain gas supply from the Jansz-Io field to the three existing LNG trains and domestic gas plant on Barrow Island,” Hearne said.

“This will maintain an important source of clean-burning natural gas to customers that will enable energy transitions in countries across the Asia Pacific region.”

A modification of the existing Gorgon development, J-IC will involve the construction and installation of a 27,000-tonne normally unattended floating Field Control Station (FCS), approximately 6,500 tonnes of subsea compression infrastructure and a 135km submarine power cable linked to Barrow Island.

Construction and installation activities are estimated to take approximately five years to complete.

J-IC follows the Gorgon Stage 2 project, which is nearing completion of the installation phase, to supply gas to the Gorgon plant from four new Jansz-Io and seven new Gorgon wells.

The Chevron-operated Gorgon Project is a joint venture between the Australian subsidiaries of Chevron (47.333 percent), ExxonMobil (25 percent), Shell (25 percent), Osaka Gas (1.25 percent), Tokyo Gas (1 percent) and JERA (0.417 percent).

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.

NOTICE

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release contains forward-looking statements relating to Chevron’s operations that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during extended periods of low prices for crude oil and natural gas during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company's ability to achieve the anticipated benefits from the acquisition of Noble Energy, Inc.; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, industry-specific taxes, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company's 2020 Annual Report on Form 10-K and in other subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.

Cam Van Ast (Perth) -- +61 8 9216 4462

VALLEY FORGE, Pa.--(BUSINESS WIRE)--#fortune500--UGI Corporation (NYSE: UGI) has named Jean Felix (JF) Tematio Dontsop as Vice President, Chief Accounting Officer (CAO), and Controller, effective July 19.

Tematio Dontsop, 45, most recently served as Vice President of Internal Audit for West Pharmaceuticals in Exton, PA. Previously, he held several roles of increasing responsibility over 15 years with PricewaterhouseCoopers (PwC), based in Philadelphia, PA and Paris, France, including Audit Director of large multinational companies. A native of Cameroon, he also worked earlier in his career with KPMG, based in Paris.

Tematio Dontsop is a certified public accountant. He holds a master’s degree in Finance from Reims Management School in France, a master’s degree in Economics from University of Science and Technology of Lille, France, and a master’s degree in Accounting from the University of Central Africa, Cameroon.

About UGI Corporation

UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas, in 12 states and the District of Columbia and internationally in France, Belgium, the Netherlands, and the UK. Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.

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

CARPENTERSVILLE, Ill.--(BUSINESS WIRE)--Black Diamond Capital Management, L.L.C. (“Black Diamond”) is pleased to announce a transaction involving one of its portfolio companies, Speciality Chemicals International Limited, a holding company of the Polynt-Reichhold group (the “Company”) in which the Company agreed to repurchase Investindustrial’s shares in the Company (the “Transaction”). Following the completion of the Transaction, Black Diamond will become the Company’s controlling shareholder.

Black Diamond and Investindustrial became partners in Polynt-Reichhold after the successful merger of Polynt and Reichhold in May 2017. In the years following the merger, the combined company’s performance has substantially improved. The Transaction, together with the refinancing of the existing debt, will be financed by approximately €1.3 billion (equivalent) of new senior secured and unsecured debt facilities expected to be issued by the Company in the public debt capital markets. Affiliates of JP Morgan and certain funds managed by affiliates of Apollo Capital Management, L.P., have provided a commitment for the debt financing and funds managed by Black Diamond have provided an equity commitment.

“We are extremely pleased with what management has been able to achieve with Polynt-Reichhold thus far and are looking forward to supporting them for the next phase of growth,” said Steve Deckoff, Black Diamond’s Managing Principal.

The Transaction is expected to close within six months from the date hereof, subject to receiving all necessary regulatory approvals.

Morgan Stanley & Co. International plc is acting as the Company’s exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as the Company’s legal advisor. Slaughter and May and Chiomenti Studio Legale are acting as legal advisors to Global Chemicals S.à r.l., an independently-managed investment subsidiary of Investindustrial V L.P. Morgan Lewis is acting as legal advisor to Black Diamond.

About Polynt-Reichhold

Polynt-Reichhold is a leading vertically-integrated global specialty chemical manufacturer, generating €2 billion in annual sales. Headquartered in the UK, Polynt-Reichhold Group manages operations through two regional centres located in Italy (Scanzorosciate, Polynt’s historical headquarter) and in the US (Carpentersville, Illinois).The Group operates 36 manufacturing facilities worldwide and several R&D centres, with a total workforce of approximately 3,100 employees.

Additional information on Polynt-Reichhold is available at www.polynt.com | www.reichhold.com.

About Black Diamond

Black Diamond Capital Management, L.L.C. (together with its affiliates, “Black Diamond”) is a leading alternative investment firm with over $8 billion in assets across four core platforms: (i) control distressed and special situations private equity funds; (ii) hedge funds; (iii) non-control stressed and distressed closed-ended funds; and (iv) collateralized loan obligations and structured products. Black Diamond has over 25 years of experience in underwriting, trading, restructuring and managing performing, stressed, distressed and private equity investments through multiple market cycles. Black Diamond is an SEC-registered Investment Adviser with over 80 employees operating from offices in Stamford, CT, London, UK and St. Thomas, VI.

Additional information on Black Diamond is available at www.bdcm.com.

This press release is for information purposes only and does not constitute any offer to sell or the solicitation of an offer to buy any security in the United States or in any other jurisdiction.

Black Diamond Investor Relations
Office: +1 (203) 552-0888
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

LOS ANGELES--(BUSINESS WIRE)--EVgo Services, LLC (“EVgo”), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, today announced that it has completed its previously announced business combination with Climate Change Crisis Real Impact I Acquisition Corporation (“CLII”).

The transaction was unanimously approved by CLII’s Board of Directors and was approved at a special meeting of CLII stockholders on June 29, 2021. More than 99% of the votes cast at the Special Meeting were in favor of the approval of the business combination. CLII stockholders also voted overwhelmingly to approve all other proposals presented at the Special Meeting.

Concurrent with the completion of its business combination, CLII has changed its name from “Climate Change Crisis Real Impact I Acquisition Corporation” to “EVgo Inc.” Commencing at the open of trading on July 2, 2021, EVgo Inc.’s Class A common stock and EVgo Inc.’s warrants are expected to commence trading on The Nasdaq Global Select Market LLC (“Nasdaq”) under the symbols “EVGO” and “EVGOW,” respectively.

To celebrate the milestone, members of EVgo, LS Power and CLII will ring the opening bell at the Nasdaq in New York on July 2, 2021. A live webcast of the opening bell ceremony will can be accessed beginning at 9:15 a.m. Eastern time from the following link: https://www.nasdaq.com/marketsite/bell-ringing-ceremony.

Management Commentary

“The completion of our business combination represents a critical milepost in EVgo’s ongoing evolution,” said Cathy Zoi, CEO of EVgo Inc. “I appreciate every employee, partner and driver that has positioned us to achieve this important step in our company’s history. With our new public platform, we are armed with greater resources and are more motivated than ever to make it easier for drivers to go electric through the continued expansion of what is already the largest public fast charging network in the country.”

“We are excited to take EVgo public,” said David Nanus, EVgo Chairman and Co-Head of Private Equity at LS Power. “We look forward to continuing to partner with Cathy and her outstanding team as they execute on the incredible growth opportunity in front of them and drive electrification of the transportation space.”

“We are proud of the tremendous teamwork exhibited by the entire team in helping to drive an efficient and successful completion of our business combination,” added David Crane, Chief Executive Officer of CLII. “EVgo is an incredible partner to help advance our mission of driving decarbonization and combating climate change through enhanced and more widespread adoption of electric vehicles.”

Transaction Overview

The transaction is primarily comprised of approximately $230.0 million of cash from CLII’s former trust account and $400.0 million of cash from a private investment in public equity (PIPE), not including redemptions and transaction fees. The PIPE is anchored by institutional investors including private funds affiliated with Pacific Investment Management Company LLC (PIMCO), funds and accounts managed by BlackRock, Wellington Management, Neuberger Berman Funds and Van Eck Associates Corporation.

EVgo Inc. will use the proceeds to fuel its growth strategy, including the buildout of its charging infrastructure network, while enhancing its position as the market leader in the transition to clean mobility. LS Power and EVgo management, who together owned 100% of EVgo prior to the business combination, have rolled 100% of their equity, and own approximately 74% of the combined company.

Leadership

EVgo’s senior management team will continue to lead the now combined company, including Cathy Zoi (Chief Executive Officer), Olga Shevorenkova (Chief Financial Officer), Ivo Steklac (Chief Operating and Chief Technology Officer), Jonathan Levy (Chief Commercial Officer), and Francine Sullivan (Chief Legal Officer).

EVgo Inc.’s Board of Directors will be comprised of David Nanus (Chairman), Cathy Zoi, Kate Brandt, Patricia K. Collawn, Elizabeth Comstock, Joseph Esteves, Darpan Kapadia, John King, and Rodney Slater.

Advisors

Credit Suisse served as lead financial advisor and capital markets advisor to EVgo and also acted as joint lead placement agent on the PIPE. Evercore also served as financial advisor and capital markets advisor to EVgo and placement agent on the PIPE. Vinson & Elkins L.L.P. served as legal advisor to EVgo. BofA Securities served as exclusive financial advisor to CLII, and also acted as joint lead placement agent on the PIPE. Mayer Brown LLP served as legal advisor to CLII and Milbank LLP acted as counsel to LS Power. Latham & Watkins L.L.P. served as counsel to the placement agents on the PIPE.

About EVgo

EVgo is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 65 metropolitan areas across 34 states and more than 250,000 customers. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.

EVgo
For Investors:
Ted Brooks, VP of Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
310-954-2943

For Media:
This email address is being protected from spambots. You need JavaScript enabled to view it.

CLII
For Investors:
Dan Gross
This email address is being protected from spambots. You need JavaScript enabled to view it.

For Media:
Isaac Steinmetz, Director of Media Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
646-883-3655

LS Power
Steven Arabia
Director, Government Affairs & Media Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
609-212-3857

Companies to Accelerate Technology Innovation & Strategic M&A Investments Needed to Optimize Operations, Improve Visibility & Control Across the Global Supply Chain

MENLO PARK, Calif. & OAKLAND, Calif.--(BUSINESS WIRE)--#acquisition--Navis, the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global cargo handling industry, today announced that leading technology investment firm Accel-KKR has completed the acquisition of Navis LLC with all business units and employees transferred by the end of 2021. The acquisition was first announced in March 2021.

The acquisition comes at a time of unprecedented demand for optimized operating solutions among terminal, vessel, carrier and inland rail freight operators, as well as the urgent call for enhanced visibility and control of cargo flow across the global supply chain. Navis, together with Accel-KKR, is well-positioned to accelerate organic and strategic investments to bring greater efficiency, control and predictability to ocean and landside logistics through advanced technology.

“Weaknesses in our global supply chains have been tested during this pandemic and the results have been telling. These disruptions have created more urgency for advanced technology to better plan, execute and optimize cargo movement in order to provide a more predictable delivery experience for all shipping partners,” said Park Durrett, Managing Director of Accel-KKR. “With the addition of Navis to the AKKR portfolio, we’re building on a strong foundation and extending capabilities to deliver greater value and more actionable insights for supply chain stakeholders.”

Together, Accel-KKR and Navis will focus on continued expansion of existing solutions to provide greater customer value through:

• Optimization of Operational Systems: Navis will further optimize planning processes, execution and visibility and control of operations through tapping more real-time operational data and use of AI/ML to make operations more intelligent and predictive for operators and their customers around the world.
• Visibility and Control: A recent report from Gartner estimates that the North American freight visibility market will reach $1B by 2024, up from $300M in 2020. Shippers, terminal operators, carriers and other stakeholders are grappling with the need for greater visibility across the supply chain. Mission critical information systems have proven their value over and over again in better operational decisions taken. Navis will extend operational capabilities to enable these critical systems to play an essential role in future end-to-end supply chain visibility, control and performance.
• Cloud Technology: The cloud technology era is increasingly influencing the way mission critical operating systems and software are developed and deployed. Nearly 80% of Navis customers surveyed in 2020 indicated they are considering moving their software to the cloud to increase their operational performance, improve flexibility, security and disaster recovery plans.
• Strategic M&A: Through the acquisition of added key capabilities across the supply chain, Navis and Accel-KKR will continue to invest in solutions that can be integrated to improve operations and performance within and between critical supply chain nodes, further improving the flow of cargo.
• Sustainability: With environmental sustainability gathering momentum as an industry priority, companies need solutions to help them operate more sustainably and comply with evolving global regulations. From software designed to reduce energy consumption in terminal operations, to calculating CO2 emissions for container moves, vessels and fleets through Navis Carrier & Vessel Solutions, the company will continue to pursue avenues to support decarbonization of global shipping.

“The acquisition marks a thrilling new chapter for the entire Navis team and our customers we proudly serve around the world,” said Benoit de la Tour, President and CEO, Navis. “Accel-KKR’s proven track record in growing supply chain software companies, combined with our market leadership position, will enable us to accelerate innovation and address rapidly-evolving challenges impacting the flow of cargo globally. We’re eager to see what the future holds and what we can accomplish together.”

Accel-KKR’s acquisition, which will complete the transfer of all business units by the end of 2021, includes Navis’ full software portfolio, including N4, Master Terminal and Octopi by Navis terminal operating systems (TOS), Navis Carrier & Vessel Solutions (NCVS), as well as Navis Rail Intermodal TOS and Freight Rail Planning & Scheduling, powered by Biarri Rail. Finally, all current Navis employees will remain with the company, operating under the direction of the existing leadership team, led by Benoit de la Tour.

About Navis, LLC

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

About Accel-KKR

Accel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. In 2019 and 2020, Inc. named Accel-KKR to “PE 50 – The Best Private Equity Firms for Entrepreneurs”, its annual list of founder-friendly private equity firms. Accel-KKR is headquartered in Menlo Park with offices in Atlanta and London. Visit accel-kkr.com to learn more.

Jennifer Grinold
Navis, LLC
T+1 510 499 7621
This email address is being protected from spambots. You need JavaScript enabled to view it.

Geena Pickering
Gregory FCA
T+1 212 398 9680
This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that its Board of Directors (“Board”) has appointed Patricia K. Collawn and Lorraine Mitchelmore to serve as members of the Board, effective July 1, 2021. Ms. Collawn and Ms. Mitchelmore are considered independent directors. Ms. Collawn has been appointed to the Audit and Compensation Committees and Ms. Mitchelmore has been appointed to the Audit and Governance and Nominating Committees.

Ms. Collawn is the Chairman, President and Chief Executive Officer of PNM Resources, Inc. (“PNM Resources”) (NYSE: PNM), an energy holding company based in New Mexico. Ms. Collawn joined PNM Resources in 2007 from Public Service Company of Colorado, where she served as President and CEO. Ms. Collawn has served on the board of directors of Equitrans Midstream Corporation (NYSE: ETRN) since April 2020, and previously served on the board of directors of CTS Corporation (NYSE: CTS). Ms. Collawn also previously served as Chairman of the Electric Power Research Institute and Chairman of the Edison Electric Institute. Ms. Collawn received a Bachelor of Arts degree from Drake University and a Master of Business Administration degree from Harvard Business School.

Ms. Mitchelmore has over 30 years of international oil and gas industry experience and most recently served as President and CEO of Enlighten Innovations Inc., a Calgary-based clean technology company. Ms. Mitchelmore is also the Former Executive Vice President, Americas Heavy Oil for Royal Dutch Shell, and Former Shell Canada Limited President and Canada Country Chair. Ms. Mitchelmore has served on the board of directors of Suncor Energy, Inc. (NYSE: SU) since November 2019, and the Bank of Montreal (NYSE: BMO) since May 2015. Ms. Mitchelmore previously served on the board of directors of TransMountain Corporation. Ms. Mitchelmore received a Bachelor of Sciences degree from Memorial University of Newfoundland, a Master of Sciences degree from the University of Melbourne, Australia, and a Master of Business Administration degree from Kingston Business School in London.

“We are pleased to announce the appointment of Patricia and Lorraine to our Board today,” said Andrea Botta, Cheniere’s Chairman of the Board. “Their respective decades of relevant experience leading large organizations in the energy industry bring significant capabilities and diversity to our Board. Patricia and Lorraine’s demonstrated expertise in driving improvement in environmental and sustainability performance are key assets which will further enhance our ESG programs, integration of our climate strategies, and strengthen our competitive advantages as we continue to position Cheniere as a reliable, growing liquefaction operator that is taking a leadership position in the global transition to cleaner energy.”

Cheniere also announced today that Nuno Brandolini has retired from its Board, effective July 1, 2021. Mr. Brandolini has served as a member of the Board since 2000 and was a member of the Governance and Nominating and Compensation Committees.

“Nuno’s contributions to Cheniere over the years have played a significant part in the successful development and execution of our strategy,” said Andrea Botta. “I’d like to personally thank him for his valuable insights and dedicated service to Cheniere, and I wish him well in his future endeavors.”

About Cheniere

Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.

For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed with the Securities and Exchange Commission.

Cheniere Energy, Inc.
Investors
Randy Bhatia, 713-375-5479

Media Relations
Eben Burnham-Snyder, 713-375-5764
Jenna Palfrey, 713-375-5491

The Press Office of the Burlakov family and Lyudmila Burlakova

LONDON--(BUSINESS WIRE)--It is with deep sorrow that the Burlakov family confirms the death of Oleg Burlakov who passed away on 21st June 2021 in Moscow aged 72.

Oleg is survived by his wife Lyudmila and two daughters Veronica and Elena. The family are mourning his loss and ask for privacy at this very difficult time.

It is the family’s sincere wish that an independent international expert establish the circumstances surrounding his death after what is believed to be a brief battle with COVID 19.

Oleg was a Russian businessman best known as the owner and visionary behind the Black Pearl, a trailblazing eco-sailing yacht which he commissioned in 2010.

Konstantin Dobrynin, a lawyer for Oleg Burlakov’s wife and daughters, a former senator, made the following statement:

“Like every family, at a moment like this, Lyudmila Burlakova and her daughters, Elena and Veronica wish to be allowed to commence the grieving process for their husband and father Oleg Burlakov. They call on all extended family members and associates of the deceased to respect his memory.”

Media enquiries for the Burlakov family
Tancredi Intelligent Communication
This email address is being protected from spambots. You need JavaScript enabled to view it.
+44 7957 549 906 | +44 7449226720
Konstantin Dobrynin

TULSA, Okla.--(BUSINESS WIRE)--In conjunction with Helmerich & Payne, Inc.’s (NYSE: HP) fiscal third quarter 2021 earnings release, you are invited to listen to its conference call on Thursday, July 29, 2021, at 11:00 a.m. (EDT) with John Lindsay, President and CEO, Mark Smith, Senior Vice President and CFO, and Dave Wilson, Vice President of Investor Relations. Investors may listen to the conference call either by phone or audio webcast.

If you are unable to listen during the live webcast, the call will be archived for 365 days on Helmerich & Payne, Inc.’s website, http://www.helmerichpayne.com, under “News & Events – Event & Presentations”, which can be accessed through the “Investors” section of the website.

About Helmerich & Payne, Inc.

Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit www.helmerichpayne.com.

Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its investor relations website at www.helmerichpayne.com.

Dave Wilson, This email address is being protected from spambots. You need JavaScript enabled to view it., 918-588-5190

ION Energy’s advanced electronics and software platforms can support Amazon’s commitment to meeting The Climate Pledge, a commitment to be net-zero carbon by 2040

MUMBAI, India--(BUSINESS WIRE)--#AllElectricFuture--ION Energy, an energy-tech startup building advanced electronics and software platforms for new energy enterprises, today announced it has raised $3.6 million in Pre-Series A funding. The round was raised from Amazon’s Climate Pledge Fund and joined by Silicon Valley-based Climate Capital, early-stage investor YourNest Venture Capital, Riso Capital, Venture Catalysts, and other angel investors. The funds will be used to grow the ION team to 125+ (currently 70), invest in product development, and expand the software business in North America and Europe.

As part of the round, Anup Menon, Head of Strategy & Emerging Technology at Bank of America will join ION’s Board of Directors.

“Globally, we believe 2021 will be the inflection point for the new energy transition as both companies and governments come together towards reducing carbon emissions. At ION, we’re confident that advanced electronics and software that help enterprises accelerate this transition will become mission-critical to meet our goals of a zero-carbon future,” said Akhil Aryan, Co-founder and CEO of ION Energy.

Founded in 2016, the five-year-old startup is headquartered in India, with operations in France and the U.S. ION’s flagship offering is a smart battery management platform (BMS) that leverages proprietary algorithms to improve battery life and performance. The BMSs are typically sold as a product or a technology license to original equipment manufacturers (OEMs) that are developing lithium-ion batteries and/or electric vehicles.

Today, the company works with more than 75 customers in the mobility and energy industry across 15 countries, including India, France, Spain and the U.S. Most recently, ION announced its partnership with Spanish Electric Scooter startup, Ray Electric Motors. To date, ION’s customers have deployed 60,000 smart BMS in electric vehicles and stationary storage systems.

In 2019 with the increase in deployments, the company recognized the need for a dedicated battery analytics software and launched Altergo (previously Edison Analytics). Altergo is currently focused on helping owners and operators of battery fleets improve the operational efficiency of their assets post-deployment. Last year, leading U.S. energy storage developer, esVolta announced it is deploying Altergo across its entire portfolio of battery storage systems, totaling to 581MWh.

“As we continue to identify visionary companies whose products and solutions will facilitate the transition to a low-carbon economy, we’re proud to invest in ION Energy, our first investment in India through the $2 billion Climate Pledge Fund,” said Kara Hurst, vice president and head of Worldwide Sustainability at Amazon. “We are inspired by ION’s mission to build technologies that improve the life and performance of lithium-ion batteries that power electric vehicles and energy storage systems, ultimately scaling solutions that help us all achieve our ambitious climate goals.”

Amazon launched The Climate Pledge Fund in 2020, a $2 billion fund to support companies developing sustainable technologies for a zero-carbon future. To date, Amazon has invested in visionary companies across industries including BETA Technologies, CarbonCure Technologies, Infinium, Pachama, Redwood Materials, Rivian, TurnTide, ZeroAvia, and now ION Energy.

This round of investment will enable ION to serve the customers that are in its $15M+ order pipeline and invest into growing the SaaS business exponentially.

About ION Energy

Founded in 2016, ION Energy’s mission is to Accelerate the Earth's transition to an All-Electric Future. The company builds advanced electronics & software platforms for new energy companies. The company’s flagship product is their Battery Management System (BMS), which enables OEMs/Battery Pack Makers to deploy smart battery systems.

ION supplies to 75+ OEMs across 15 countries including India, France, Spain and the US. Since its inception, it has deployed over 60,000 smart BMS in electric vehicles and stationary storage systems.

In 2019, ION launched Altergo (previously called Edison Analytics), a digital twin platform for battery intelligence. Altergo now manages 700+ MWh of battery storage in the cloud.

For more information, visit www.ionenergy.co.

Media Kit

Jeet Jhaveri,
Chief of Staff, ION Energy
+91 98201 02272
This email address is being protected from spambots. You need JavaScript enabled to view it.

EL DORADO, Ark.--(BUSINESS WIRE)--Murphy USA Inc. (NYSE: MUSA) will release preliminary second quarter 2021 earnings results after the market close on Wednesday, July 28, 2021, followed by a conference call at 10:00 a.m. CT on Thursday, July 29, 2021. Interested parties may participate by dialing 1-833-968-2218 and referencing conference ID number 6739389. The call can also be accessed via webcast through the Investor Relations section of Murphy USA’s website at http://ir.corporate.murphyusa.com. The webcast will be available for replay one hour after the conference concludes and a transcript will be made available shortly thereafter.

About Murphy USA

Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,650 stores located primarily in the Southwest, Southeast, Midwest, and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 322 among Fortune 500 companies.

Investor Contact:
Christian Pikul – Vice President of Investor Relations and FP&A
This email address is being protected from spambots. You need JavaScript enabled to view it.

Mitchell Freer – Investor Relations Analyst
This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced the appointment of Dr. Emily Reichert, Ph.D. to its Board of Directors. Dr. Reichert will also serve as a member of the Nominating, Governance and Sustainability Committee. In connection with Dr. Reichert’s appointment, the Board increased its size to eight directors.

Dr. Reichert currently serves as Chief Executive Officer of Greentown Labs, North America’s largest climate tech startup incubator. She has led the rapid growth of Greentown Labs into a global center for climate tech solutions innovation. Based in Boston, MA, Greentown Labs recently opened its second incubator hub in Houston, TX. Dr. Reichert earned her doctorate in physical chemistry from the University of Wisconsin and Masters of Business Administration from the Massachusetts Institute of Technology – Sloan School of Management where she also served as a Sloan Fellow in Innovation and Global Leadership.

Cris Gaut, FET’s Chairman of the Board, remarked, “I am pleased to welcome Dr. Reichert to FET’s Board as an independent director. Her significant wealth of experience with the development and commercialization of clean technology will have an immediate beneficial impact. FET is focused on the development of energy products and technologies, including those that reduce GHG emissions and support clean energy. Nearly 10% of FET’s revenue currently comes from non-oil and gas related products, and we are committed to expanding our strategic focus on sustainable and new energy products and technologies. Dr. Reichert’s appointment will accelerate this strategic market expansion for FET.”

Dr. Reichert stated, “FET’s leadership recognizes both the challenge and opportunity to be seized in the global energy transition that is already underway. I join FET’s Board of Directors to help demonstrate that companies serving the traditional energy industry can profitably transition to a decarbonized future. As founding CEO of Greentown Labs, I am excited to share my experience and insights from a decade of supporting entrepreneurs drive clean energy solutions to market.”

FET (Forum Energy Technologies) is a global company, serving the oil, natural gas, industrial and renewable energy industries. FET provides value added solutions that increase the safety and efficiency of energy exploration and production. We are an environmentally and socially responsible company headquartered in Houston, TX with manufacturing, distribution and service facilities strategically located throughout the world. For more information, please visit www.f-e-t.com.

Lyle Williams
Executive Vice President and Chief Financial Officer
713.351.7920
This email address is being protected from spambots. You need JavaScript enabled to view it.