Business Wire News

ROCHESTER, England--(BUSINESS WIRE)--BAE Systems is taking decades of flight controls expertise underwater on-board the UK’s next generation submarine, Dreadnought. This innovative approach involves adapting controls that are usually used in fly-by-wire aircraft and applying them in a marine environment.



The complete Active Vehicle Control Management (AVCM) system will oversee all major aspects of the submarines’ maneuvering capability to the highest levels of safety and reliability, similar to existing systems on modern air transport platforms.

Jon Tucker, Director for Maritime Controls at BAE Systems Controls and Avionics, said: “With over 50 years of avionics experience, we already have a great understanding of how to develop complex, control systems for hi-tech platforms. However, taking our technology underwater brings exciting new challenges and we are proud to support the Dreadnought program and play an important part in our national security effort.”

Similar to how fly-by-wire works for aircraft – whereby electronic systems are used to control the movement of aircraft – the Company’s engineers are developing electronics that control the heading, pitch, depth and buoyancy of the Dreadnought class among other critical elements with added safety benefits.

Work has already begun, supporting more than 130 highly skilled jobs in Rochester, U.K, with the number expected to grow. The program is one of the largest developmental projects taking place at the Rochester site and we have made significant investments at the site to create new labs and workspaces to support this exciting program.

The innovation has been developed in Rochester, U.K, with engineers in our Electronic Systems business working closely with colleagues across the Company’s Maritime and Air sectors to develop a world-class system as part of our Active Vehicle Control One-Team. Our engineers will continue to develop the technologies with a view to expanding its applications to both other underwater and surface vessels.


Contacts

Sean Hills, BAE Systems
Mobile: +447827 991666
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Gillian Churchill, BAE Systems
Mobile: +44792 1867103
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www.baesystems.com
@BAESystemsplc
@BAESystemsInc

CRISPRi Innovations Provide Expanded Experimental Options and Flexibility For Researchers Facilitating Disease & Drug Research

WALTHAM, Mass.--(BUSINESS WIRE)--Horizon Discovery, a PerkinElmer, Inc. (NYSE:PKI) company, today announced that its gene editing and modulation portfolio is expanding to include a new family of CRISPR modulation (CRISPRmod) reagents for CRISPR interference (CRISPRi). CRISPRi enables scientists to better understand the biological pathways, processes and pathologies of disease by repressing genes at the transcriptional level, ultimately leading to new therapeutic approaches.


The new reagents include the first-ever commercially available synthetic single guide RNAs for CRISPRi, as well as a patent-pending, dCas9-SALL1-SDS3 repressor available in mRNA and lentiviral formats. With these new technologies, researchers will have the flexibility to repress genes in almost all cell lines, over any length of time, and at any scale from single gene readouts to high-throughput studies.

The novel dCas9-SALL1-SDS3 repressor was developed following extensive research and has shown more robust and consistent gene modulation over a longer course of time compared to current-generation CRISPRi products.

Alan Fletcher, SVP Life Sciences at PerkinElmer said, “CRISPRi is gene knockdown, not knockout. It’s CRISPR without the cut, so it offers a temporary and nuanced approach which is ideal for researchers looking to mimic cellular effects of small molecule drugs or do multiplexed gene interrogation. By offering these new reagents, in addition to our existing CRISPR options, we’re primed to aid researchers in achieving even more exciting breakthroughs in the years ahead.”

Horizon Discovery’s Dharmacon technology, with its patented siRNA tools, has been the market leader in gene modulation for more than 20 years. Since the discovery of CRISPR gene editing tools, Horizon has been on the forefront offering guide and nuclease products to enable precision DIY CRISPR knockout and knock-in as well as custom screening and cell line production services. CRISPRmod CRISPRi continues the tradition of innovation by developing novel CRISPR-based transcriptional gene modulation reagents. Portfolio-wide, Horizon helps researchers answer fundamental biological questions leading to therapeutic advancements.

For further information on Horizon Discovery’s CRISPRi technology, please visit: https://horizondiscovery.com/en/applications/crisprmod/crispri.

About PerkinElmer

PerkinElmer enables scientists, researchers, and clinicians to address their most critical challenges across science and healthcare. With a mission focused on innovating for a healthier world, we deliver unique solutions to serve the diagnostics, life sciences, food, and applied markets. We strategically partner with customers to enable earlier and more accurate insights supported by deep market knowledge and technical expertise. Our dedicated team of about 14,000 employees worldwide is passionate about helping customers work to create healthier families, improve the quality of life, and sustain the well-being and longevity of people globally. The Company reported revenue of approximately $3.8 billion in 2020, serves customers in 190 countries, and is a component of the S&P 500 index. Additional information is available through 1-877-PKI-NYSE, or at https://www.perkinelmer.com/.


Contacts

Media:
Jennifer McNeil
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+1 508.380.2902

PARIS--(BUSINESS WIRE)--The District Hospital of Santarém, a well-recognized healthcare center located in the central region of Portugal, has chosen Biolog Transfusion Solution to optimize its blood components’ management between its healthcare services and blood transfusion department. In operation since November 2020, this solution provides real-time traceability to red blood cells, from reception to release for transfusion.


Based on RFID, Biolog Transfusion Solution connects healthcare professionals to essential product information. By offering real-time precise physical location for each blood product unit, this cutting-edge technology helps to better drive inventory management and enhance patients’ blood product reservations. Besides, this traceability allows unused red blood cell bags to be more reliably returned to the Blood Bank for potential new patient assignation before the expiration date. Combining the technology with 24/7 accurate digital information contributes to better utilization of available products and in reducing wastage, a key requirement when we know that about 5% of these vital resources can be unavailable for medical usage1.

“The implementation of the Biolog Transfusion Solution proved to be a good tool to improve the traceability of the transfusion process and, consequently, the quality of the service provided by the blood transfusion department. By tracking red blood bags, it’s possible to obtain information on all procedures performed with them, from reception at the department to transfusion at the inpatient service”, said Dra Rute Ribeiro, technical coordinator and responsible for quality of Santarém District Hospital Blood Bank.

“We have worked alongside the District Hospital of Santarém to define the right tools for facing their challenges, and we are pleased to see that Biolog Transfusion Solution meets their needs. At biolog-id we are committed to developing state of the art solutions to ensure the availability and the quality of blood products which will ultimately serve patients”, declares Philippe Jacquet, Executive Director of Sales EMEA/LATAM at biolog-id.

“The real time capacity to locate blood components, as well as monitoring transfusion processes is the main achievement made possible by using RFID technology. That is really a forwarding security step!”, explains Dr. João Moura, Director of Santarém District Hospital Blood Bank.

By combining software, equipment, and tags, the modular end-to-end Biolog Transfusion Solution offers traceability of blood components products at every stage of the process. Biolog-id’s flexible approach allows customization of the solution to meet any infrastructure constraints, from blood centers, blood banks, and hospitals.

About biolog-id:
Biolog-id develops and implements innovative solutions, that digitally transform routine processes into actionable data supporting better operational and strategic decisions for sensitive therapeutic products: blood products (red blood cells, platelets, plasma), chemotherapies, parenteral nutrition.
The information generated by biolog-id solutions is available to Healthcare Professionals at any time, enhancing their processes efficiency, work conditions and ultimately the safety of the therapeutics administered to patients.
Biolog-id’s patented platform is utilized in North America, Europe, Middle East, India, and Asia Pacific. Biolog-id is owned by its founder, managers, and the Xerys Funds.

Company URL: www.biolog-id.com

About District Hospital of Santarém:
The District Hospital of Santarém (HDS) is a Corporate Public Entity located in the city of Santarém in the central region of Portugal, in full operation since 1985. The Hospital is part of the Portuguese National Health Service (SNS).
The Hospital was projected in the late 70's with more than 500 beds and the objective of offering a new health infrastructure for the city. The Hospital is equipped with all the main medical and surgical specialties, serving a population of approximately 200,000 inhabitants. It has now a total of 419 beds, where more than 6,000 blood transfusions are delivered each year.

Website URL: https://www.hds.min-saude.pt/

About Xerys Gestion:
Xerys Gestion is a French investment company primarily positioned on trending sectors that include healthcare & Life Sciences, renewable energy/GreenTech and new digital technologies. As such, Xerys Gestion supports companies in industries undergoing major transformation to address economic, environmental and societal challenges that have great ambitions for their growth and international expansion. In its market, Xerys Gestion stands out as much for its modus operandi and the strategic and operational support it provides to portfolio companies, as for the range of à la carte investment opportunities offered to investors and the firm’s close relations with them, or its sector-based approach. Lastly, Xerys Gestion has considerable sector expertise, bolstered by a strategic committee made up of recognized specialists and experts in key sectors. Xerys Gestion manages 200 million euros in assets, with a portfolio of nine companies.

For more information visit www.xerys.com or find us on LinkedIn @Xerys.

1 Source: World Health Organization


Contacts

Contact: Astrid Billard, This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Pressure Vessel Composite Materials Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Material and End User" report has been added to ResearchAndMarkets.com's offering.


According to this report the global pressure vessel composite materials market was valued at US$ 758.36 million in 2019 and is projected to reach US$ 3,539.95 million by 2027; it is expected to grow at a CAGR of 21.4 % during 2020-2027. The report highlights key driving factors and prominent market players along with their developments in the market.

Pressure vessel composite materials are used in pressure vessels used to store gases and liquids under high pressure. A composite material is a combination of materials that vary in composition or shape on a macro scale. These materials do not dissolve or otherwise blend entirely into each other. Composite materials help boost efficiency of applications on which it is used and can deliver a large amount of material savings. Therefore, most of them are needed in various industries such as oil refineries, nuclear reactors, automobiles, gas repositories, and aerospace.

The chemicals industry is growing across the world due to the increasing consumption of goods such as fertilizers and other agrochemical products, coatings and adsorbents, LED lightings, plastics, and human-made fibers, and research laboratory chemicals. According to the International Council of Chemical Associations (ICCA), the chemical industry was valued at US$ 5.7 trillion in 2019, which was equivalent to a 7% share in the global GDP. Also, the petrochemical industry is receiving a huge demand from various construction projects worldwide.

Pressure vessels are designed to work by reaching the pressure level required to make an application function, such as holding air in a scuba tank. It can deliver pressure either directly by valves and release gauges or indirectly via heat transfer. Potential pressure levels ranges from 15 psi to 150,000 psi, while temperatures are usually above 400C (750F). A pressure tank can hold anywhere from 75 liters (20 gallons) to many thousand liters. Pressure vessels are used in different industries, but chemical, oil & gas, and energy industry are the main industries.

The COVID-19 outbreak was first reported in Wuhan (China) in December 2019. Lockdowns, travel bans, and business shutdown measures are restricting the supplies of chemicals and materials products, which is causing a significant loss for pressure vessels composite materials manufacturers.

Reasons to Buy

  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global pressure vessel composite materials market, thereby allowing players to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

Market Dynamics

Drivers

  • Increasing Natural Gas Vehicles
  • Increasing Demand for Pressure Vessels from Various End-User Industries

Restraint

  • Storage Capacity of Composite Pressure Vessels

Opportunity

  • Increasing use of Pressure Vessel Composite Materials for Space Technology

Companies Mentioned

  • 3M Company
  • BASF SE
  • Hexion Inc.
  • Huntsman International LLC.
  • Kolon Industries. Inc.
  • Mitsubishi Chemical Corporation
  • Olin Corporation
  • Solvay S.A.
  • Steelhead Composites, LLC.
  • ZOLTEK Corporation (Toray Group)

For more information about this report visit https://www.researchandmarkets.com/r/8dhv6u


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T 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

  • Agreement further expands and complements Baker Hughes CCUS technology portfolio offering to strategically position for new energy frontiers
  • Mixed Salt Process technology enables significant carbon capture separation cost reductions, providing Total Cost of Ownership savings for energy and industrial operators to decarbonize operations
  • CCUS technologies are critical for putting energy systems around the world on a sustainable path

HOUSTON & MENLO PARK, Calif.--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR) announced it has entered into a global exclusive licensing agreement with SRI International to use SRI’s innovative Mixed-Salt Process (MSP) for CO2 capture. SRI has received support from the U.S. Department of Energy’s Office of Fossil Energy (FE) and National Energy Technology Laboratory (NETL) in developing its MSP technology. The agreement with SRI follows Baker Hughes’ acquisition of Compact Carbon Capture announced in November 2020, and further expands and complements its CCUS (carbon capture, utilization, and storage) for applications such as the treatment of flue gases from fossil fueled power plants, gas turbines, industrial applications, and the cement industry.


The advancement of carbon capture technology solutions is widely considered critical to delivering CO2 emissions reductions needed to meet global 2050 climate and net-zero emissions targets. In the energy and industrial sectors, carbon capture is among the most viable decarbonization paths for both retrofitting existing assets and greenfield projects. The Baker Hughes CCUS portfolio features advanced turbomachinery, solvent-based state-of-the-art capture processes, well construction and management for CO2 storage, and advanced digital monitoring solutions.

“The Mixed Salt Process combines an efficient, post-combustion carbon capture process that uses a novel solvent formulation that relies on commodity chemicals. Our process has the benefits of a low manufacturing carbon footprint, reduced energy consumption and greater efficiency. The technology also differentiates itself from other state-of-the-art amine-based carbon capture technologies by negligible solvent-degradation and reduced water use, as well as the fact it uses a widely available and environmentally friendly solvent,” said Manish Kothari, president of SRI International. “As an energy technology company committed to the energy transition, Baker Hughes is the ideal partner to demonstrate the advantages and commercial benefits of our MSP solution.”

“Technology plays a key role in ensuring that new energy frontiers such as CCUS are cost-competitive and sustainable,” said Rod Christie, executive vice president of Turbomachinery & Process Solutions at Baker Hughes. “In this period of CCUS market formation we are strategically and purposefully investing in the development and industrialization of innovative technologies to be deployed in a cost-effective manner once the market reaches maturity. Once commercialized, the MSP has the potential to contribute to the advancement of CCUS, providing a lower-cost and energy-efficient carbon capture solution with reduced emissions, making it ideal for commercial applications.”

The MSP developed by SRI currently has a technology readiness level of 4 as per the scale defined by the European Union as part of the Horizon 2020 framework program. The MSP combines readily available potassium and ammonia (NH3) salt solutions to enable reduced reboiler and auxiliary electric loads, emissions, and water usage. In addition, the MSP requires a smaller footprint than competing CCUS solutions.

About SRI International:

SRI International creates world-changing solutions making people safer, healthier, and more productive. SRI, a research center headquartered in Menlo Park, California, works primarily in advanced technology and systems, biosciences, computing and education. SRI brings its innovations to the marketplace through technology licensing, spin-off ventures and new product solutions.

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


Contacts

Media contact for Baker Hughes:
Stephanie Price
+1 281-605-8399
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Investor Relations for Baker Hughes:
Jud Bailey
+1 281-809-9088
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Media contact for SRI International:
Molly Hendriksen
+1 510-418-2511
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LOS ANGELES--(BUSINESS WIRE)--Global Clean Energy Holdings, Inc. (OTCQB: GCEH) today effected a 1-for-10 reverse stock split. As a result of the reverse stock split, the trading symbol has changed to “GCEHD” for 20 business days. After 20 business days, the symbol will change back to “GCEH.”


About Global Clean Energy Holdings

Global Clean Energy Holdings, Inc. (“GCEH”) is a uniquely positioned vertically integrated renewable fuels company. Our strategy has been consistent from the company’s inception; control the full integration of our entire supply chain from the development, production and processing of feedstocks through to the refining and distribution of renewable fuels. GCEH’s wholly-owned plant science subsidiary, Sustainable Oils, Inc., owns an industry leading portfolio of intellectual property rights, including patents and production know-how, for the production of its proprietary varieties of Camelina sativa as a non-food based ultra-low carbon biofuels feedstock. GCEH is retooling and constructing its renewable diesel refinery in Bakersfield, California, which when completed in early 2022 will be the largest renewable fuels facility in the western United States and the largest in the country that produces renewable fuels from non-food based feedstocks. To learn more about the company, visit www.gceholdings.com.


Contacts

Communications Contact
Melody Kean Haller
(424) 318-3518
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HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that Substantial Completion of Train 3 at the Corpus Christi liquefaction project was achieved on March 26, 2021. Commissioning is complete and Cheniere’s EPC partner Bechtel Oil, Gas and Chemicals, Inc. (“Bechtel”) has turned over care, custody, and control of Train 3 to Cheniere.


Cheniere, its subsidiaries, and Bechtel have now declared Substantial Completion on a total of eight liquefaction trains at the Corpus Christi liquefaction project and the Sabine Pass liquefaction project ahead of each train’s guaranteed completion date and within project budgets.

With the achievement of Substantial Completion, financial results of LNG sales from Train 3 going forward will be reflected in the statement of operations of Cheniere and its applicable affiliates.

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 Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding expectations regarding regulatory authorizations and approvals, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to the amount and timing of share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.


Contacts

Cheniere Contacts
Investors
Randy Bhatia
713-375-5479

Megan Light
713-375-5492

Media Relations
Eben Burnham-Snyder
713-375-5764

Jenna Palfrey
713-375-5491

CENTRAL ISLIP, N.Y.--(BUSINESS WIRE)--CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition systems, announced today that it will release its 2020 fourth quarter and year end results after markets close on Wednesday, March 31, 2021. CVD Management will hold a conference call to discuss its results at 4:30 pm (Eastern Time) that day.


To participate in the live conference call, please dial toll free (877) 407-2991 or International (201) 389-0925. A telephone replay will be available for 7 days. To access the replay, dial (877) 660-6853 or international (201) 612-7415. The replay passcode is 13718134.

A live and archived webcast of the call will also be available on the company's website at www.cvdequipment.com/events. The archived webcast will be available at the same location approximately two hours following the end of the live event.

About CVD Equipment Corporation

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


Contacts

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

LYNCHBURG, Va.--(BUSINESS WIRE)--$BWXT--BWX Technologies, Inc. (NYSE: BWXT) (“BWXT”) announced today that it plans to offer up to $400 million aggregate principal amount of senior notes due 2029 (the “Notes”) in a private transaction exempt from the registration requirements of the Securities Act of 1933, as amended (the “Act”). The Notes will be guaranteed by each of BWXT’s present and future direct and indirect wholly owned domestic subsidiaries that is a guarantor under BWXT’s credit facility.


BWXT intends to use the net proceeds from the offering, together with cash on hand or borrowings under its credit facility, to redeem, on or after July 15, 2021, all of its outstanding 5.375% senior notes due 2026 (the “2026 Notes”) at the then-applicable redemption price. Pending the application of the net proceeds to redeem all outstanding 2026 Notes, BWXT intends to repay in full all indebtedness outstanding under its credit facility, with the remaining net proceeds to be held in cash or invested in short-term interest-bearing accounts, securities or similar investments. There can be no assurance that the offering of the Notes will be completed.

The Notes and the related guarantees have not been registered under the Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A and to persons outside the United States under Regulation S.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Statements

BWXT cautions that this press release contains forward-looking statements, including, without limitation, statements regarding the anticipated offering of the Notes, the redemption of the 2026 Notes, the repayment of indebtedness under its credit facility and the other expected use of proceeds. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties, including, among other things, material adverse changes in economic or industry conditions generally and the market demand for the Notes. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed or implied in these forward-looking statements. For a more complete discussion of other risk factors affecting BWXT, see BWXT’s filings with the Securities and Exchange Commission, including BWXT’s annual report on Form 10-K for the year ended December 31, 2020. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

About BWXT

At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Va., BWXT provides safe and effective nuclear solutions for national security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 12 major operating sites in the U.S. and Canada. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities.


Contacts

Investor Contact:
Mark Kratz
Vice President, Investor Relations
980-365-4300
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Media Contact:
Jud Simmons
Director, Media and Public Relations
434-522-6462
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced today the pricing of its previously announced private offering of $1.5 billion aggregate principal amount of senior secured notes due 2026 (the “Notes”). The Notes will bear interest at 6.500% per annum and will be issued at an issue price equal to 100% of principal, plus accrued interest, if any, from April 12, 2021. The closing of the offering is subject to certain limited conditions.


Subject to certain exceptions and thresholds, the Notes will be guaranteed on a senior secured basis by each domestic subsidiary and foreign subsidiary that is a wholly-owned restricted subsidiary of the Company that is a guarantor under its existing senior secured notes. The Notes will be secured by substantially the same collateral as the Company’s existing first lien obligations under its existing senior secured notes.

The Company intends to use a portion of the net proceeds from this offering to fund the cash consideration for its previously announced acquisition of Golar LNG Partners L.P. and pay related fees and expenses. The offering is not contingent on the completion of the acquisition. The Company intends to use any remaining proceeds from this offering for general corporate purposes, including making investments in developing projects. The Notes will be subject to a special mandatory redemption. If the acquisition is not consummated on or prior to October 13, 2021, the Notes will be redeemed at a price equal to 100% of the aggregate principal amount of the Notes, plus accrued and unpaid interest on the principal amount of the Notes to, but not including, the special mandatory redemption date.

The Notes and the guarantees thereof were offered in the United States to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to persons outside of the United States under Regulation S under the Securities Act. The Notes and the guarantees thereof will not be registered under the Securities Act or any state securities laws, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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

About New Fortress Energy Inc.

New Fortress Energy is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.

Cautionary Language Regarding Forward-Looking Statements

This press release contains forward-looking statements, including but not limited to statements regarding the consummation of the offering or the Company’s anticipated use of the net proceeds from the offering. All statements contained in this press release other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “targets,” “potential” or “continue” or the negative of these terms or other comparable terminology. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Actual events or results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors.

All forward-looking statements speak only as of the date on which it is made. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in our annual, quarterly and other reports we file with the SEC. We undertake no duty to update these forward-looking statements, even though our situation may change in the future. Furthermore, we cannot guarantee future results, events, levels of activity, performance, projections or achievements.


Contacts

IR:
Alan Andreini
(212) 798-6128
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Joshua Kane
(516) 268-7455
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Media:
Jake Suski
(516) 268-7403
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Partnership introduces industry first, AI-enhanced cloud native solution for the OSDUData Platform optimized for Microsoft Azure

LONDON & REDMOND, Wash.--(BUSINESS WIRE)--Schlumberger and Microsoft announced an expanded strategic partnership to accelerate new technologies for the energy industry. The first offering, the Schlumberger Enterprise Data Management Solution for the OSDU Data Platform—a new industry standard for energy data—is available today. Energy companies will now benefit from an OSDU-compliant solution, and the ability to seamlessly connect to the DELFI* cognitive E&P environment from Schlumberger. The Enterprise Data Management Solution is ready for global customers to deploy on Microsoft Azure, Schlumberger’s preferred global public cloud platform for OSDU-compatible solutions.


The companies’ mutual contributions to the first commercial release of the OSDU Data Platform establish the foundation of the Schlumberger Enterprise Data Management Solution. Through this partnership they will enhance the Enterprise Data Management Solution, tighten integration with OSDU and develop new scalable data ingestion capabilities, unified AI templates and domain services. These new joint solutions will be built using industry focused cloud, data and AI innovations and domain expertise from Microsoft and Schlumberger. The companies will work together to bring these new products to market, including sales, service and support.

“Introducing a global cloud-based data solution, built by Schlumberger and Microsoft, means the energy industry can fully embrace their digital transformation with confidence. By working together, we have opened access to data and AI, unlocking significant potential for productivity increases and performance gains across all domains,” comments Hinda Gharbi, executive vice president Services and Equipment, Schlumberger. “These new possibilities and opportunities have become a reality today; our joint solution is available for deployment on Azure across the globe. Our industry can now quicken the pace of innovation to accelerate the digital future of energy.”

“Our expanded partnership with Schlumberger underscores the vision we share to help the energy industry’s digital transformation,” said Scott Guthrie, executive vice president, Cloud + AI, Microsoft. “By harnessing AI technologies, companies can simplify their data to gain valuable insights and streamline workflows. Built on Azure, and open and interoperable by design, these new solutions and platforms will enable every customer and partner in the energy industry to compete and thrive.”

More detail about the current Enterprise Data Management Solution can be found here. Additional information about the future joint solution will come at a later date.

About Schlumberger

Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.

Find out more at www.slb.com.

About Microsoft

Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

*Mark of Schlumberger


Contacts

Media
Giles Powell – Director of Corporate Communication, Schlumberger Limited
Tel: +1 (713) 375-3494
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Microsoft Media Relations, WE Communications for Microsoft
Tel: + 1 (425) 638-7777
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
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CORAL GABLES, Fla.--(BUSINESS WIRE)--Quirch Foods today announced an expanded commitment to Environmental, Social and Governance (ESG) principles and practices. In 2020, the company launched a CEO-led executive steering committee to define and oversee plans to achieve long-term, strategic and data-driven goals to address a range of social and environmental issues and build customer and consumer trust. Quirch Foods's specific ESG initiatives include:


  • Active participation in roundtable discussions of supply chains with National Fisheries Institute (NFI) and Fishery Improvement Projects (FIPs), and formation of relationships with other leading global groups committed to regulating, preserving and improving global sourcing.
  • Increasing to 98% the proportion of Farm-Raised seafood sourced from Better Aquaculture Practices (BAP)-certified fisheries.
  • Working with manufacturers to convert retail packaging to recyclable materials to reduce waste. Quirch Foods intends to package over 90% of all of its brands in eco-conscious packaging by 2028.

These commitments build on past successes and continued efforts to position Quirch Foods as a global leader in terms of sustainability within the food space. In the past year, for example, the company reduced its food waste by 57% through enhanced vigilance and systemic management. Additionally, the company has sponsored employee volunteer events engaging with local foods banks for food donations.

“Quirch Foods has been making significant strides in building our wholesale, services, and brands by putting a heightened emphasis on social/environmental priorities, including the well-being of our associates and the communities we serve," said Frank Grande, President and CEO of Quirch Foods.

“Leading by example is a big part of our culture,” continued Grande. "As we move forward, we have a robust plan to continue pursuing real solutions to help address climate change, improve food sourcing and energy preservation as a company, and creating an innovative, conscious and diverse workplace promoting equal opportunity, with a zero tolerance for discrimination."

Quirch Foods has been owned by affiliates of Palladium Equity Partners, LLC, a middle market private equity firm with nearly $3 billion in assets under management, since 2018. Palladium supported Quirch Foods’ purchase of Butts Foods in May 2020 as well as the merger with Colorado Boxed Beef in October 2020.

About Quirch Foods®

Quirch Foods is a food distribution company servicing ethnic and national grocers as well as foodservice distribution customers across the United States, the Caribbean, and Central and South America. Quirch Foods operates approximately 480 refrigerated trucks and over 2.2 million square feet of distribution space among 21 facilities in Florida, Georgia, North Carolina, Tennessee, Alabama, Illinois, Texas, Washington, Oregon, and Puerto Rico. Quirch Foods is the exclusive distributor of High River Angus®, McKinneys Beef®, Panamei Seafood®, Diamond Reef® seafood, KikiriQuirch®, Jackson Farms™, Mambo Foods®, and is a licensed distributor of Certified Angus Beef® and Chiquita® frozen fruits.

Through IQ Foods’ Suspended Fresh™ program, customers leverage innovative technology and processes to buy and store proteins for a later delivery, with the product arriving fresh, never frozen.

Quirch Foods operates through a family of well recognized companies. For more information visit quirchfoods.com, coloradoboxedbeef.com, pacfoods.com, ejfoodsnw.com, buttsfoods.com, greatfishco.com, helmsmanfreightsolutions.com, and phoenixfl.com.

To learn more about our brands, visit: highriverangus.com, panamei.com, diamondreefseafood.com, and mambofoods.com. Follow us on Facebook, Twitter, Instagram, LinkedIn, or call (800) 458-5252.


Contacts

Quirch Foods, LLC
Jorge Roza
305-691-3535 ext. 2278
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ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced the launch of ICE’s newest exchange, ICE Futures Abu Dhabi (“IFAD”), and ICE Murban Crude Oil futures, the world’s first Murban futures contract. IFAD is being launched with the Abu Dhabi National Oil Company (ADNOC) and nine of the world’s largest energy traders including BP, ENEOS, GS Caltex, INPEX, PetroChina, PTT, Shell, TOTSA (Total) and Vitol.


ICE Murban Crude Oil Futures opened for trading today along with 18 Murban-related cash settled derivatives and inter-commodity spreads. These new contracts offer the market the broadest range of ways to trade and hedge Murban crude.

“The launch of IFAD represents a singular achievement, one that would not have been realized without the vision, fortitude and years of work by His Excellency Dr. Sultan, his team at ADNOC, and the leadership of the UAE in opening up Murban to the markets,” said Jeffrey C. Sprecher, Founder, Chairman and CEO of Intercontinental Exchange. “Today, with our outstanding partners, we are bringing a new benchmark to life, and just as Murban has powered the UAE for the past 50 years, with this new futures contract there is a tremendous future ahead for Murban as a price marker for global energy markets.”

“Murban Crude is recognized the world over for its intrinsic chemical qualities, consistent and stable production volumes, large number of international buyers, and numerous long-term concession and production partners,” said His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO. “In making Murban a freely traded global commodity, it becomes even more attractive to market participants and will deliver greater value to ADNOC and its partners. This historic and strategic milestone reinforces the UAE and Abu Dhabi’s status as a leading global energy hub and underscores ADNOC’s central role as a catalyst to empower the UAE’s economic ambitions.”

Murban futures are open for trading for 24 hours a day on Mondays and 22 hours a day Tuesdays to Fridays, with investors from jurisdictions including Abu Dhabi Global Market, United States, Singapore, UK, Switzerland, the Netherlands, France, Norway, Australia, Japan and South Korea, able to trade on IFAD. IFAD has 26 Exchange Members and 19 Clearing Members, who are listed in full on IFAD’s Membership page.

Contracts traded on IFAD are cleared at ICE Clear Europe where they are cleared alongside ICE’s global energy futures platform covering oil, natural gas and the environmental complex, allowing customers to benefit from critical margin offsets to enhance capital efficiency.

About Intercontinental Exchange

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

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

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

ICE- CORP

Source: Intercontinental Exchange


Contacts

ICE Media Contact:
Rebecca Mitchell
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+44 7951 057 351

ICE Investor Contact:
Warren Gardiner
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770-835-0114

DUBLIN--(BUSINESS WIRE)--The "Global Microturbine Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.


The publisher has been monitoring the microturbine market and it is poised to grow by $988.86 million during 2021-2025 progressing at a CAGR of 17% during the forecast period.

The reports on microturbine 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 market is driven by the strict regulations to curb carbon emissions enabling growth opportunities for microturbine market7.1.1, decommissioning of nuclear power plants creating a market opening for microturbines and rise in distributed generation capacity propelling microturbines adoption.

The microturbine market analysis includes end-user segment, application segment and geographical landscapes. This study identifies the rising investment in R&D to use microturbines in the transportation industry as one of the prime reasons driving the microturbine market growth during the next few years. Also, mixed impact of government policies and subsidies on microturbine market in the US and lower initial cost in comparison to other low carbon emission substitutes will lead to sizable demand in the market.

Companies Mentioned

  • Ansaldo Energia Spa
  • Bladon Jets
  • Brio Energy Pvt. Ltd.
  • Capstone Turbine Corp.
  • Eneftech Innovation SA
  • FlexEnergy Inc.
  • General Electric Co.
  • ICR Turbine Engine Corp.
  • Micro Turbine Technology (MTT) BV
  • OPRA Turbines

The report on microturbine market covers the following areas:

  • Microturbine market sizing
  • Microturbine market forecast
  • Microturbine market industry analysis

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.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.

Key Topics Covered:

1. Executive Summary

  • Market Overview

2. Market Landscape

  • Market ecosystem
  • Impact of COVID-19 on Utilities
  • Value chain analysis

3. Market Sizing

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

4. Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

5. Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Cogeneration - Market size and forecast 2020-2025
  • Stand-by power - Market size and forecast 2020-2025
  • Market opportunity by Application

6. Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Industrial - Market size and forecast 2020-2025
  • Commercial - Market size and forecast 2020-2025
  • Residential - Market size and forecast 2020-2025
  • Market opportunity by End-user

7. Customer landscape

8. Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • 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
  • MEA - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

9. Vendor Landscape

  • Overview
  • Landscape disruption

10. Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Ansaldo Energia Spa
  • Bladon Jets
  • Brio Energy Pvt. Ltd.
  • Capstone Turbine Corp.
  • FlexEnergy Inc.
  • General Electric Co.
  • ICR Turbine Engine Corp.
  • Micro Turbine Technology (MTT) BV
  • Mitsubishi Electric Corp.
  • Siemens AG

11. Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T 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

BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”), an innovation-driven company in the fuel cell and hydrogen technology space, today announced financial results for the full year ended December 31, 2020.

Advent has issued a letter to shareholders discussing its financial results and providing an overview of recent developments. The letter is available in the Investor Relations section of Advent’s website: https://ir.advent.energy/.

Dr. Vasilis Gregoriou, Advent’s Chief Executive Officer and Founder, said:

Since our public listing, we have hit the ground running in our efforts to grow Advent’s business and expand our revenue streams. The transformation of energy production from one based on existing fossil fuel technology to a cleaner, renewable future is critical to not only the future of Advent but the future of our planet. This is the central mission that motivates the entire Advent team to operate responsibly in everything we do. Advent is at the cutting edge of the new energy economy and we believe this will benefit all of our stakeholders and allow us to create lasting value for our investors.”

Full Year 2020 financial highlights include:

  • Revenue of $882,652 in 2020, an increase of 42.3% compared to revenue of $620,168 in 2019, primarily driven by increased demand from customers for Advent Technologies’ Membrane Electrode Assemblies (MEAs) and other products, as a result of Advent’s customers increasing their own testing and usage of Advent’s products.
  • Total revenues including income from grants of $1,089,480 in 2020, a decrease of 10.8% compared to total revenue including income from grants of $1,222,113 in 2019, primarily driven to timing on the recognition of revenue from various grants and slower response times from various partners due to the COVID-19 pandemic.
  • Gross Profit of $368,834 in 2020, an increase of 65.6% compared to gross profit of $222,775 in 2019, primarily driven by an increase in revenue and gross margins. Gross margins were higher for the year ended December 31, 2020, reflecting a more mature mix of revenues leading to more normalized pricing arrangements.
  • Net loss of $4,184,840 in 2020 and Diluted EPS of ($0.09) in 2020.

2021 Outlook:

Advent announced the following total company outlook for full year 2021:

  • Net Cash Use

$15 million - $30 million

  • Expenses and Capital Expenditures

$25 million - $40 million

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is an innovation-driven company in the fuel cell and hydrogen technology space. Our vision is to accelerate electrification through advanced materials, components, and next-generation fuel cell technology. Our technology applies to electrification (fuel cells) and energy storage (flow batteries, hydrogen production) markets, which we commercialize through partnerships with Tier1s, OEMs, and System Integrators. For more information on Advent Technologies Holdings, Inc., please visit the company’s website at https://www.advent.energy/.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements”. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, including the Company’s ability to realize the benefits from the business combination; the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate.

In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in the definitive Proxy Statement/Prospectus included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 26, 2021. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Some of these risks and uncertainties may in the future be amplified by the COVID-19 outbreak and there may be additional risks that we consider immaterial or which are unknown. It is not possible to predict or identify all such risks. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.


Contacts

Investor Relations:
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NEW YORK & OSLO, Norway--(BUSINESS WIRE)--FREYR AS, (the “Company” or “FREYR”), a Norway-based developer of clean, next-generation battery cell production capacity, announced on January 29, 2021 that it will become a publicly listed company through a business combination (the “Transaction”) with Alussa Energy Acquisition Corp. (“Alussa Energy”) (NYSE: ALUS), a Cayman Islands exempted, publicly listed special purpose acquisition company (“SPAC”).

Today, FREYR and Alussa Energy provide an update to the market on certain aspects of the Transaction:

  • Alussa Energy announced today that FREYR Battery, a newly-formed holding company incorporated under the laws of Luxembourg (“Pubco”), has filed with the U.S. Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 (the “Registration Statement”), which includes a preliminary proxy statement/prospectus, in connection with its announced proposed business combination with FREYR. The Registration Statement is not yet effective and remains subject to finalization. Alussa Energy, FREYR and Pubco urge investors, shareholders and other interested persons to read the Registration Statement (as the same may be amended and restated from time to time), including the preliminary proxy statement/prospectus and documents incorporated by reference therein, as well as other documents filed with the SEC in connection with the proposed Transaction, as these materials will contain important information about FREYR, Alussa Energy and the proposed Transaction.
  • FREYR Battery previously confidentially submitted a draft registration statement on Form S-4 to the SEC on February 16, 2021.
  • The Transaction will raise an estimated $850 million in equity proceeds to the Company, assuming no redemptions by Alussa Energy shareholders and including a $600 million fully committed Private Investment in Public Equity anchored by strategic and institutional investors, including Koch Strategic Platforms, Glencore, Fidelity Management & Research, Franklin Templeton, Sylebra Capital and Van Eck Associates Corporation. As stipulated in the Business Combination Agreement associated with the Transaction, Alussa Energy and Pubco shall collectively have a minimum cash condition of at least $400 million in the aggregate in cash and cash equivalents as one of the conditions to consummate the Transaction.
  • The Transaction is expected to fully fund the equity capital requirements of FREYR to develop up to 43 GWh of clean battery cell manufacturing capacity in Norway by 2025 based on both 24M Technologies’ (“24M”) disruptive, innovative design and process technologies and traditional technologies. Beginning with its Pilot/Customer Qualification Plant, FREYR’s plan for phased development of Gigafactories is intended to position the Company as one of Europe’s largest battery cell suppliers through its mission and vision to deliver some of the world’s cleanest and most cost-effective batteries.
  • On February 16, 2021, FREYR shareholders approved the Transaction.
  • Alussa Energy anticipates that it will hold an Extraordinary General Meeting (the “Alussa Special Meeting”) to consider matters relating to the proposed Transaction promptly after the Registration Statement is declared effective and the proxy statement/prospectus is mailed to the shareholders of Alussa Energy. Subject to the finalization of the Registration Statement and declaring the Registration Statement effective, Alussa Energy expects the Alussa Special Meeting to take place between the second half of April and first half of May 2021. The Alussa Special Meeting will be a completely virtual meeting of shareholders, which will be conducted via live webcast.

Subject to closing conditions being met, the combined company will be named FREYR Battery AS and its ordinary shares are expected to start trading on the New York Stock Exchange under the ticker symbol FREY upon closing, expected in the second quarter of 2021.

About FREYR AS

FREYR plans to develop up to 43 GWh of battery cell production capacity by 2025 to position the company as one of Europe’s largest battery cell suppliers. The facilities will be located in the Mo i Rana industrial complex in Northern Norway, leveraging Norway’s highly skilled workforce and abundant, low-cost renewable energy sources from hydro and wind in a crisp, clear and energized environment. FREYR will supply safe, high energy density and cost competitive clean battery cells to the rapidly growing global markets for electric vehicles, energy storage, and marine applications. FREYR is committed to supporting cluster-based R&D initiatives and the development of an international ecosystem of scientific, commercial, and financial stakeholders to support the expansion of the battery value chain in our region. For more information, please visit www.freyrbattery.com.

About Alussa Energy Acquisition Corp.

Alussa Energy is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While Alussa Energy may pursue an acquisition opportunity in any industry or sector, Alussa Energy intends to focus on businesses across the entire global energy supply chain. For more information, please visit www.alussaenergy.com.

Forward-Looking Statements

The information in this press release includes forward-looking statements and information based on management’s expectations as of the date of this press release. All statements other than statements of historical facts, including statements regarding FREYR’s business strategy, anticipated business combination with Alussa Energy and the terms of such combination, anticipated benefits of FREYR’s technologies, projected production capacity are forward-looking statements and anticipated Transaction timeline. The words “may,” will,” “expect,” “plan,” “target,” or similar terminology are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Alussa Energy & FREYR may not actually achieve the plans or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Factors that may cause actual results to differ materially from current expectations, include Alussa Energy’s and FREYR’s ability to finalize the Registration Statement and have it declared effective by the SEC; compliance with the laws and regulations applicable to the Alussa Special Meeting; FREYR’s ability to execute on its business strategy and develop and increase production capacity in a cost-effective manner; changes adversely affecting the battery industry; the further development and success of competing technologies; the failure of 24M technology or FREYR’s batteries to perform as expected; and FREYR’s ability to complete the business combination with Alussa Energy on the currently expected terms or at all.

No Offer or Solicitation

This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities pursuant to the Transaction or otherwise, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

No Assurances

There can be no assurance that the Transaction will be completed, nor can there be any assurance, if the Transaction is completed, that the potential benefits of combining the companies will be realized.

Important Information about the Transaction and Where to Find It

In connection with the Transaction, Alussa Energy and Pubco has and will file relevant materials with the SEC, including a Form S-4 registration statement filed by Pubco (the “S-4”), which includes a prospectus with respect to Pubco’s securities to be issued in connection with the proposed business combination and a proxy statement (the “Proxy Statement”) with respect to Alussa Energy’s shareholder meeting at which Alussa Energy’s shareholders will be asked to vote on the proposed Business Combination and related matters. ALUSSA ENERGY SHAREHOLDERS AND OTHER INTERESTED PERSONS ARE ADVISED TO READ THE S-4 AND THE AMENDMENTS THERETO AND OTHER INFORMATION FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION, AS THESE MATERIALS CONTAIN IMPORTANT INFORMATION ABOUT ALUSSA ENERGY, PUBCO, FREYR AND THE TRANSACTION. When available, the Proxy Statement contained in the S-4 and other relevant materials for the Transaction will be mailed to shareholders of Alussa Energy as of a record date to be established for voting on the proposed business combination and related matters. The preliminary S-4 and Proxy Statement, the final S-4 and definitive Proxy Statement and other relevant materials in connection with the Transaction (when they become available), and any other documents filed by Alussa Energy with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov) or by writing to Alussa Energy Acquisition Corp. at c/o PO Box 500, 71 Fort Street, Grand Cayman KY1-1106, Cayman Islands.


Contacts

FREYR
Steffen Føreid, CFO, +47 9755 7406, This email address is being protected from spambots. You need JavaScript enabled to view it.
Harald Bjørland, Investor Relations, +47 908 58 221, This email address is being protected from spambots. You need JavaScript enabled to view it.
Hilde Rønningsen, Director of Communications, +47 453 97 184, This email address is being protected from spambots. You need JavaScript enabled to view it.

Alussa Energy
Chi Chow, Alussa Energy, Strategy & Investor Relations, +1 929-303-6514, This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Waste To Energy (WTE) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.


Global Waste To Energy (WTE) Market to Reach $48.5 Billion by 2027

Amid the COVID-19 crisis, the global market for Waste To Energy (WTE) estimated at US$ 32.3 Billion in the year 2020, is projected to reach a revised size of US$ 48.5 Billion by 2027, growing at a CAGR of 6% over the period 2020-2027.

Thermal, one of the segments analyzed in the report, is projected to record 5.8% CAGR and reach US$ 39.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Biological segment is readjusted to a revised 6.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $9.5 Billion, While China is Forecast to Grow at 5.6% CAGR

The Waste To Energy (WTE) market in the U.S. is estimated at US$ 9.5 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$ 8.5 Billion by the year 2027 trailing a CAGR of 5.6% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.6% and 4.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Global Competitor Market Shares
  • Waste To Energy (WTE) Competitor Market Share Scenario Worldwide (in %): 2020E
  • Global Competitor Market Shares by Segment

2. FOCUS ON SELECT PLAYERS (Total 36 Featured):

  • Arrow Ecology Ltd.
  • Austrian Energy & Environment Group Gmbh
  • Babcock & Wilcox Volund A/S
  • Biogen Greenfinch (Biogen)
  • Bluefire Ethanol
  • Bta International Gmbh
  • Community Power Corporation (Cpc)
  • Constructions Industrielles De La Editerranee (Cnim)
  • Covanta Energy Corporation
  • Ecocorp

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

  • World Current & Future Analysis for Waste To Energy (WTE) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • World 7-Year Perspective for Waste To Energy (WTE) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2020 & 2027
  • World Current & Future Analysis for Thermal by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • World 7-Year Perspective for Thermal by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020 & 2027
  • World Current & Future Analysis for Biological by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • World 7-Year Perspective for Biological by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2020 & 2027

III. GEOGRAPHICAL MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 36

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


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T 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

SUDBURY, Ontario--(BUSINESS WIRE)--#USWWorks--Sudbury Steelworkers are looking to Vale to “walk the talk” at the bargaining table.


“Steelworkers are pleased to hear Vale’s positive tone and praise of its employees during its Chamber of Commerce presentation on March 23. This is great news for the region of Sudbury,” said Nick Larochelle, President of United Steelworkers (USW) Local 6500.

Vale’s North American chief operating officer Dino Otranto said he wants to ‘shed the know-it-all attitude and start engaging, listening, and caring for its employees,’ during the Chamber of Commerce presentation.

Otranto also commented extensively on how the outlook for nickel prices is positive, with increased demand worldwide for the metal’s use in electric vehicle batteries.

“We welcome seeing Vale’s positivity and we look forward to this openness being carried through to the bargaining table,” said Larochelle.

USW Local 6500, representing over 2,500 production and maintenance workers in mining, milling, smelting and refining at Vale’s Sudbury operations, will be bargaining for a new collective agreement. The unprecedented one-year agreement is set to expire May 31, 2021.

“Our members are working hard and have a solid track record in safety and productivity. Injury frequency in Sudbury was reduced significantly last year, in some places by up to 70%,” said Larochelle.

USW Local 6500 welcomes Vale’s Copper Cliff South Mine expansion and looks forward to continuing to contribute the skills of its members long into the future. The union will continue working with Vale to unlock the region’s undeveloped rich ore reserves including Victor mine.

“When the company says: ‘Let’s start the dialogue,’ workers hear that, too. We are seeking a new deal that recognizes the long, rich and proud history of the Steelworkers as partners in Vale’s success – now and into the future,” said Larochelle.


Contacts

For more information:
Nick Larochelle, President, USW Local 6500, 705-675-3381 x 238, This email address is being protected from spambots. You need JavaScript enabled to view it.
Shannon Devine, USW Communications, 416-894-7118 (cell), This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Autonomous Ships - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.


Global Autonomous Ships Market to Reach $9.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Autonomous Ships estimated at US$ 6.8 Billion in the year 2020, is projected to reach a revised size of US$ 9.9 Billion by 2027, growing at a CAGR of 5.6% over the period 2020-2027.

Commercial, one of the segments analyzed in the report, is projected to record 5.8% CAGR and reach US$ 6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Defense segment is readjusted to a revised 5.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2 Billion, While China is Forecast to Grow at 5.2% CAGR

The Autonomous Ships market in the U.S. is estimated at US$ 2 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$ 1.7 Billion by the year 2027 trailing a CAGR of 5.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 4.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 and a Looming Global Recession
  • Global Competitor Market Shares
  • Autonomous Ships Competitor Market Share Scenario Worldwide (in %): E
  • Global Competitor Market Shares by Segment

2. FOCUS ON SELECT PLAYERS (Total 36 Featured):

  • ABB
  • General Electric (GE)
  • Honeywell International
  • Hyundai Heavy Industries (HHI)
  • Kongsberg Gruppen
  • Marine Technologies LLC
  • Marlink
  • Praxis Automation & Technology B.V.
  • Rh Marine
  • Rolls-Royce

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

  • World Current & Future Analysis for Autonomous Ships by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • World Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • World Current & Future Analysis for Defense by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • World Current & Future Analysis for Partial Automation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • World Current & Future Analysis for Fully Autonomous by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • World Current & Future Analysis for Remote Operations by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • World Current & Future Analysis for New Built & Line Fit by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • World Current & Future Analysis for Retrofit by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR

III. GEOGRAPHICAL MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 36

For more information about this report visit https://www.researchandmarkets.com/r/53m7f8


Contacts

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

  • Expansion in French e-bus market with local bus OEM SAFRA
  • Framework supply of lithium-ion battery systems
  • 3 year agreement with product delivery starting March 2021
  • Potential further collaboration in fuel-cell and retrofit bus business

HOUSTON--(BUSINESS WIRE)--Microvast, a leading global provider of next-generation battery technologies for commercial and specialty vehicles that recently announced a planned business combination with Tuscan Holdings Corp. (Nasdaq: THCB), today announced the initial delivery of battery systems to French bus manufacturer SAFRA in Albi, France. Microvast will provide SAFRA with three standard certified battery products for its full electric and hybrid buses, as well as for the refurbishment of the bus fleet over the next three years.


Microvast collaborates with SAFRA to propel the electrification of French bus market

Last October, Microvast was nominated as the battery supplier for the full-electric bus, hybrid bus, and the retrofit bus of the French bus OEM SAFRA. Under the framework supply agreement, Microvast will supply up to 2,000 battery packs from Microvast over three years, starting in March 2021.

Key factors in the selection of Microvast were its standard and certified battery pack offerings that fulfill the technical requirements. The Microvast battery packs can be flexibly connected in serial and/or parallel to reach different voltage and energy levels.

The high level of standardization and modularity can accommodate various project demands. Furthermore, Microvast battery packs are expected to be certified with ECE R100.2 by June 2021, so that the vehicle can conform to the ECE regulation.

With the planned launch of SAFRA’s e-bus late this year, Microvast will further expand its footprint in the French e-bus market. Meanwhile, both parties are exploring further opportunities in the fuel cell bus and bus retrofit business. Since Microvast has the complete vertical integrated capability of battery design and production from material to turn-key solution, it can continuously upgrade its solutions by developing new high-performance cells to fit into the standard module and pack products.

About Microvast

Microvast, Inc. is a technology innovator that designs, develops and manufactures lithium-ion battery solutions. Founded in 2006 and headquartered in Houston, TX, Microvast is renowned for its cutting-edge cell technology and its vertical integration capabilities which extends from core battery chemistry (cathode, anode, electrolyte, and separator) to battery packs. By integrating the process from raw material to system assembly, Microvast has developed a family of products covering a broad breadth of market applications. More information can be found on the corporate website: www.microvast.com.

About SAFRA

SAFRA, founded in 1955, is based in Albi, France. It has grown to become a Group and its 3 companies are located on an 8-hectare site with more than 16,000 m² of covered buildings. In 2020, the SAFRA Group had a turnover of 24 million euros, and employed 245 staff in its various companies. SAFRA company (Public Transport Equipment) has 2 areas of activity: SAFRA Manufacturer, which designs, manufactures and sells a complete range of urban electric buses under the Businova brand. This bus boasts an atypical design and innovative architecture and is sold in a number of different versions, with 2 dimensions (10.5m and 12m) and 3 types of engine (rechargeable electric hybrid, pure electric or hydrogen), all of which meet the requirements of the new French Energy Transition Law directives. And SAFRA Rénovation, specialising in equipment, fittings, renovation and heavy maintenance services for urban transport vehicles (buses, trams, underground trains, railway coaches).

About Tuscan

Tuscan Holdings Corp. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Tuscan’s management team is led by Stephen Vogel, Chairman and Chief Executive Officer. Tuscan is listed on Nasdaq under the ticker symbol "THCB."

About InterPrivate

InterPrivate Capital is a private investment firm that invests on behalf of a consortium of family offices. The firm’s unique independent co-sponsor structure provides its investors with the deep sector expertise and transaction execution capabilities of veteran deal-makers from the world’s leading private equity and venture capital firms. Affiliates of InterPrivate Capital act as sponsors, co-sponsors and advisors of SPACs, and manage a number of investment vehicles on behalf of its family office co-investors that participate in private and public opportunities, including PIPE investments in support of the firm’s sponsored business combinations. For more information regarding InterPrivate Capital, please visit www.interprivate.com. For more information regarding InterPrivate’s SPAC strategy, please visit www.ipvspac.com.

Additional Information and Where to Find It

In connection with the proposed transaction (the “Proposed Transaction”) involving Tuscan Holdings Corp., a Delaware corporation (“Tuscan”) and Microvast, Inc. a Delaware corporation (“Microvast”), Tuscan intends to file relevant materials with the SEC, including a proxy statement. On February 16, 2021 Tuscan filed a preliminary proxy statement with the SEC relating to the Proposed Transaction. This document is not a substitute for the proxy statement. INVESTORS AND SECURITY HOLDERS AND OTHER INTERESTED PARTIES ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT MICROVAST, TUSCAN, THE PROPOSED TRANSACTION AND RELATED MATTERS. The proxy statement and other documents relating to the Proposed Transaction (when they are available) can be obtained free of charge from the SEC’s website at www.sec.gov. These documents (when they are available) can also be obtained free of charge from Tuscan upon written request to Tuscan at Tuscan Holdings Corp., 135 E. 57th St., 17th Floor, New York, NY 10022.

No Offer or Solicitation

This communication is for informational purposes only and is not intended to and shall not constitute a proxy statement or the solicitation of a proxy, consent or authorization with respect to any securities in respect of the Proposed Transaction and shall not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities or a solicitation of any vote of approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Participants in Solicitation

This communication is not a solicitation of a proxy from any investor or securityholder. However, Tuscan, Microvast, and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the Proposed Transaction under the rules of the SEC. Information about Tuscan’s directors and executive officers and their ownership of Tuscan’s securities is set forth in Tuscan’s filings with the SEC, including Tuscan’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 25, 2021. To the extent that holdings of Tuscan’s securities have changed since the amounts included in Tuscan’s Annual Report, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the participants is also included in the preliminary proxy statement filed on February 16, 2021 and will be included in the definitive proxy statement, when it becomes available. When available, these documents can be obtained free of charge from the sources indicated above.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding Microvast’s industry and market sizes, future opportunities for Tuscan, Microvast and the combined company, Tuscan’s and Microvast’s estimated future results and the Proposed Transaction, including the implied equity value, the expected transaction and ownership structure and the likelihood and ability of the parties to successfully consummate the Proposed Transaction. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

In addition to factors previously disclosed in Tuscan’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) inability to complete the Proposed Transaction or, if Tuscan does not complete the Proposed Transaction, any other business combination; (2) the inability to complete the Proposed Transaction due to the failure to meet the closing conditions to the Proposed Transaction, including the inability to obtain approval of Tuscan’s stockholders, the inability to consummate the contemplated PIPE financing, the failure to achieve the minimum amount of cash available following any redemptions by Tuscan stockholders, the failure to meet the Nasdaq listing standards in connection with the consummation of the Proposed Transaction, or the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement; (3) costs related to the Proposed Transaction; (4) a delay or failure to realize the expected benefits from the Proposed Transaction; (5) risks related to disruption of management time from ongoing business operations due to the Proposed Transaction; (6) the impact of the ongoing COVID-19 pandemic; (7) changes in the highly competitive market in which Microvast competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (8) changes in the markets that Microvast targets; (9) risk that Microvast may not be able to execute its growth strategies or achieve profitability; (10) the risk that Microvast is unable to secure or protect its intellectual property; (11) the risk that Microvast’s customers or third-party suppliers are unable to meet their obligations fully or in a timely manner; (12) the risk that Microvast’s customers will adjust, cancel, or suspend their orders for Microvast’s products; (13) the risk that Microvast will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; (14) the risk of product liability or regulatory lawsuits or proceedings relating to Microvast’s products or services; (15) the risk that Microvast may not be able to develop and maintain effective internal controls; (16) the outcome of any legal proceedings that may be instituted against Tuscan, Microvast or any of their respective directors or officers following the announcement of the Proposed Combination; (17) risks of operations in the People’s Republic of China; and (18) the failure to realize anticipated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions and purchase price and other adjustments.

Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Tuscan and Microvast or the date of such information in the case of information from persons other than Tuscan or Microvast, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding Microvast’s industry and end markets are based on sources we believe to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.


Contacts

Microvast Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
(346) 309-2562

Microvast Public Relations
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Microvast European Media
Press Office Microvast GmbH
c/o Jeschenko MedienAgentur Berlin GmbH
Zehdenicker Straße 12 a, 10119 Berlin
Tel. +49 30 443183-16
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Tuscan Holdings Corp.
Investor Relations, ICR
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InterPrivate Capital
Charlotte Luer
Investor Relations
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Press Office SAFRA
5 Rue Copernic
81000 Albi – France
Tel. +33 5 63 48 44 10
E-Mail : This email address is being protected from spambots. You need JavaScript enabled to view it.

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