Industry Favors the J-Series for Its World-Class Reliability and Efficiency

LAKE MARY, Fla.--(BUSINESS WIRE)--#MHPS--Mitsubishi Hitachi Power Systems, Ltd. (MHPS) continues to lead the power generation industry in global market share year-to-date for heavy duty gas turbines (100 megawatts [MW] and above) according to data from McCoy Power Reports, the industry’s premier reporting agency. Orders for 3,479 MW represent 32 percent global market share in the first half of 2020. Closely watched by industry experts, the heavy duty segment represents the most advanced technology and drives energy production globally.

MHPS also achieved 52 percent global market share for advanced class gas turbines (G-, H- and J-Class), which is a subset of the heavy duty segment. MHPS’ J-Series gas turbines continue to lead the market with their unrivaled combination of efficiency greater than 64 percent and world-class reliability of 99.5 percent. The installed J-Class fleet has surpassed one million hours of commercial operation worldwide, which is nearly double that of competitors’ similar sized gas turbines. As an added benefit, all gas turbines MHPS sells globally will be capable of operating with green hydrogen created using stored renewable energy.

Paul Browning, President and CEO of MHPS Americas, said, “The global gas turbine market strongly prefers MHPS’ JAC gas turbines, which are the industry’s most reliable gas turbines with record-setting fuel efficiency and output. Market preference for our heavy duty gas turbines recognizes our commitment to providing high quality solutions that contribute to the stable supply of flexible power, which combined with renewable power provides an essential path forward to combat climate change and advance human prosperity. Together with our customers, we are achieving a Change in Power.”

Sharon Prater
+1 407-688-6200
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Electronic Assemblies for Naval Application

TAMPA, Fla.--(BUSINESS WIRE)--$SYPR--Sypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has received an initial contract award from the Leonardo DRS Naval Electronics business unit to manufacture and test electronic assemblies for a shipboard system. Production will begin in 2020. Terms of the agreement were not disclosed.

“Sypris Electronics has extensive experience working on mission critical Navy programs,” said Jim Long, Vice President & General Manager of Sypris Electronics. “Leonardo DRS is an industry leader in Naval Electronics and the opportunity to support them on this program is an honor for Sypris Electronics. Our collaborative approach in providing a tailored manufacturing and test solution was an important element to this win. We are excited to support Leonardo DRS on this program and to expand our relationship with Leonardo DRS.”

Sypris Electronics is a trusted provider of electronic solutions, addressing customers’ needs for building complex, mission-critical electronic and electro-mechanical devices and integrated systems. Backed by 50 years of experience, Sypris’ engineering and manufacturing services span our customers’ product life cycle all within a culture of continuous improvement and Six Sigma/Lean thinking. Partners from multiple agencies and tier one companies in Military (DoD), Space, Medical, Undersea, and Industrial markets team with Sypris to deliver high-reliability electronics built with strict adherence to regulated requirements. For more information, please visit www.sypriselectronics.com.

Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the federal securities laws. Forward-looking statements include our plans and expectations of future financial and operational performance. Such statements may relate to projections of the Company’s revenue, earnings, and other financial and operational measures, our liquidity, our ability to mitigate or manage disruptions posed by COVID-19, and the impact of COVID-19 and economic conditions on our future operations, among other matters. COVID-19 continues to spread throughout the United States and other countries across the world, and the duration and severity of its effects are currently unknown. The COVID-19 pandemic has resulted, and is likely to continue to result, in significant economic disruption and has and will likely adversely affect our business. The Company has continued to operate at each location and sought to remain compliant with government regulations imposed due to the COVID-19 pandemic.

Each forward-looking statement herein is subject to risks and uncertainties, as detailed in our most recent Form 10-K and Form 10-Q and other SEC filings. Briefly, we currently believe that such risks also include the following: the impact of COVID-19 and economic conditions on our future operations; possible public policy response to the pandemic, including legislation or restrictions that may impact our operations or supply chain; our failure to successfully complete final contract negotiations with regard to our announced contract “orders”, “wins” or “awards”; the cost, quality, timeliness, efficiency and yield of our operations and capital investments, including the impact of employee training, working capital, production schedules, cycle times, scrap rates, wages, overtime costs, freight or expediting costs; disputes or litigation involving governmental, supplier, customer or employee claims; our inability to develop new or improved products or new markets for our products; cost, quality and availability of raw materials and electronic component parts; our reliance on third party vendors and sub-suppliers; continued shortages and extensive lead-times for electronic components; failure to adequately insure or to identify environmental or other insurable risks; volatility of our customers’ forecasts, scheduling demands and production levels which negatively impact our operational capacity and our effectiveness to integrate new customers or suppliers, and in turn cause increases in our inventory and working capital levels; adverse impacts of new technologies or other competitive pressures which increase our costs or erode our margins; U.S. government spending on our products and services, including the timing of budgetary decisions; changes in licenses, security clearances, or other legal rights to operate, manage our work force; cyber security threats and disruptions; inaccurate data about markets, customers or business conditions; or unknown risks and uncertainties. We undertake no obligation to update our forward-looking statements, except as may be required by law.

Lawrence J. Bernicky
Vice President of Finance
(813) 972-6040

KANSAS CITY, Mo.--(BUSINESS WIRE)--Kansas City Southern’s (KCS) (NYSE:KSU) Board of Directors on August 11, 2020 declared a regular dividend of $0.25 per share on the outstanding KCS 4% non-cumulative preferred stock. The dividend is payable on October 6, 2020 to preferred stockholders of record at the close of business on September 14, 2020.

The Board of Directors also declared a regular dividend of $0.40 per share on the outstanding KCS common stock. This dividend is payable on October 7, 2020, to common stockholders of record at the close of business on September 14, 2020.

Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.

KCS:
Ashley Thorne, 816-983-1530
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SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation today announced a contribution of $1 million to the Lebanese Red Cross, in support of relief efforts under way to help those impacted by the devastating explosions that struck the Port of Beirut last week.

"We offer our heartfelt condolences to Lebanon and deepest sympathy to people who have lost loved ones,” said Chevron Executive Vice President Joe Geagea. "This donation is intended to support the work of the Lebanese Red Cross in providing much-needed assistance to those affected by this tragic incident.”

Chevron has had a presence in the Middle East since the 1930s and remains committed to the region and its people.

The contribution will support humanitarian aid and relief efforts being provided by the Lebanese Red Cross in Beirut.

Chevron Corporation (NYSE: CVX) is one of the world’s leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company’s operations. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

Sally Jones -- +44 560 109 1435

HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. ("Helix") (NYSE: HLX) announced today its intention to offer, subject to market and other conditions, $175 million principal amount of Convertible Senior Notes due 2026 (the “2026 Notes”). Helix intends to use a portion of the net proceeds from the offering to repurchase a portion of its outstanding 4.25% Convertible Senior Notes due 2022 (the “2022 Notes”) and its outstanding 4.125% Convertible Senior Notes due 2023 (the “2023 Notes” and, together with the 2022 Notes, the “Outstanding Notes”) in privately negotiated transactions effected through one of the underwriters or its affiliate, as Helix’s agent, concurrently with the offering (the “repurchase transactions”) and to fund the cost of entering into the capped call transactions described below. Helix intends to use any remaining net proceeds from the offering for general corporate purposes, which may include the repayment of other indebtedness. Wells Fargo Securities, LLC and Evercore ISI are acting as joint book-running managers for the offering.

The terms of any repurchase transaction will depend on several factors, including the market price of Helix’s common stock and the trading price of the 2022 Notes and the 2023 Notes at the time of such repurchase(s). Any repurchase transactions may affect the market price of Helix’s common stock. Helix also expects that, should it repurchase a portion of the Outstanding Notes, holders thereof that sell such Outstanding Notes to Helix may enter into or unwind various derivatives with respect to Helix’s common stock and/or purchase or sell shares of its common stock in the market to hedge their exposure in connection with these transactions. In particular, Helix expects that many holders of the Outstanding Notes employ a convertible arbitrage strategy with respect to such Outstanding Notes and have a short position with respect to Helix’s common stock that they would close, through purchases of its common stock, in connection with Helix’s repurchase, if any, of their Outstanding Notes. This activity could increase (or reduce the size of any decrease in) the market price of Helix’s common stock or the 2026 Notes at that time, which could also impact the initial conversion prices of the 2026 Notes.

In connection with the pricing of the 2026 Notes, Helix expects to enter into one or more privately negotiated capped call transactions with one or more of the underwriters of the offering and/or their respective affiliates and/or other financial institutions (the “option counterparties”). The capped call transactions are expected generally to reduce the potential dilution to Helix’s common stock upon any conversion of the 2026 Notes or at the election of Helix (subject to certain conditions) to offset any cash payments that Helix may be required to make in excess of the aggregate principal amount of the converted 2026 Notes, as the case may be, upon any conversion of the 2026 Notes, with such reduction or offset subject to a cap.

Helix has been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to enter into cash-settled over-the-counter derivative transactions with respect to Helix’s common stock concurrently with, or shortly after, the pricing of the 2026 Notes and may unwind these cash-settled over-the-counter derivative transactions and purchase shares of Helix’s common stock in open market transactions following the pricing of the 2026 Notes. This activity could increase (or reduce the size of any decrease in) the market price of Helix’s common stock, the 2026 Notes or other equity-linked securities of Helix at that time. In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Helix’s common stock and/or purchasing or selling shares of Helix’s common stock or other securities of Helix in secondary market transactions following the pricing of the 2026 Notes and from time to time prior to the maturity of the 2026 Notes (and are likely to do so on each exercise date of the capped call transactions, which are expected to occur during the observation period prior to the maturity date of the 2026 Notes (the 40 trading day period beginning on the 41^st scheduled trading day prior to the maturity date of the 2026 Notes), or following any termination of any portion of the capped call transactions in connection with any repurchase, redemption or conversion of the 2026 Notes if Helix makes the relevant election under the capped call transactions). This activity could also cause or avoid an increase or a decrease in the market price of Helix’s common stock, the 2026 Notes or other equity-linked securities of Helix, which could affect the ability of holders of the 2026 Notes to convert their 2026 Notes and, to the extent the activity occurs during any observation period related to a conversion of the 2026 Notes, it could affect the number of shares of Helix’s common stock and value of the consideration that holders of the 2026 Notes will receive upon conversion thereof.

The 2026 Notes are being offered pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (the “SEC”). Copies of the prospectus and preliminary prospectus supplement relating to the offering may be obtained from the offices of Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York 10001, Telephone: 800-326-5897, Email: This email address is being protected from spambots. You need JavaScript enabled to view it. or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, New York 10055, Telephone: 888-474-0200, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.. Electronic copies of the prospectus and preliminary prospectus supplement may also be obtained, when available, by visiting EDGAR on the SEC’s website at www.sec.gov.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Helix

Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding any repurchases of Outstanding Notes, capped call transactions or other use of proceeds from the offering or effects of the transactions described in this press release; our strategy; any statements regarding visibility and future utilization; any projections of financial items; any statements regarding future operations expenditures; any statements regarding the plans, strategies and objectives of management for future operations; any statements regarding our ability to enter into and/or perform commercial contracts; any statements concerning developments; any statements regarding future economic conditions or performance; any statements regarding the offering and the use of proceeds therefrom; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. The forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to the potential effects of the transactions described in this press release; the COVID-19 pandemic and actions by governments, customers, suppliers and partners with respect thereto; market conditions; results from acquired properties; demand for our services; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities; operating hazards and delays, which includes delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; our ultimate ability to realize current backlog; employee management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in our reports filed with the SEC, including Helix’s most recently filed Annual Report on Form 10-K and in Helix’s other filings with the SEC, which are available free of charge on the SEC’s website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by the securities laws.

Erik Staffeldt, 281-618-0400
Executive Vice President & CFO
www.HelixESG.com

KENNESAW, Ga.--(BUSINESS WIRE)--Yamaha Rightwaters joined forces with Anderson Marine to re-power Keep the Tennessee River Beautiful’s (KTNRB’s) 25-foot aluminum work boat with a V MAX SHO^® 90 outboard. The organization, which works to preserve, improve and protect the 652-mile Tennessee River, will use the boat and outboard for cleanup missions during scheduled volunteer events going forward.

“The Tennessee River touches four states: Tennessee, Alabama, Mississippi and Kentucky. Its tributary rivers flow through North Carolina, Virginia and Georgia. Many communities along the river thrive on the recreation industry, and without good stewardship of this natural resource, those communities would struggle,” said Kathleen Gibi, Executive Director, KTNRB. “The team at Yamaha understands this connection. With the support of Yamaha Rightwaters, we have the ability to take our efforts to the next level.”

During KTNRB cleanup events, volunteers work together to pull trash from some of the more difficult areas to reach in the river. The boat and outboard are designed to travel into shallow areas, many of which collect trash after floods. KTRNB has collected 2,816 pounds of trash since receiving the boat in July. Since its founding, the organization has rallied nearly 1,500 volunteers to pull more than 113,000 pounds of trash from the river, with 48,000 pounds removed in 2019 alone.

"I love doing river cleanups with Keep the Tennessee River Beautiful,” said volunteer Amanda Watson of Lenoir City, Tenn. “One of my favorite parts of a clean up is riding on the boat and looking at the trash that we just pulled out of the water. It's such a gratifying feeling to know I've made an impact on cleaning up a river that I love.”

Yamaha Rightwaters began its support of Keep the Tennessee River Beautiful after meetings during the 2019 Bassmaster^® Classic in Knoxville, Tenn. Yamaha Rightwaters also sponsors KTNRB’s Ripple Effect Awards, which recognize the many individuals, groups, companies and organizations that work hard to improve and protect the Tennessee River and its tributaries.

“The Tennessee River is in Yamaha’s backyard, both in Tennessee and Georgia,” said John O’Keefe, Senior Specialist, Government Relations, Yamaha Marine U.S. Business Unit. “The health of this waterway is essential to many communities throughout the Tennessee Valley. Supporting Keep the Tennessee River Beautiful’s mission is a meaningful way for Yamaha Rightwaters to play a role in the preservation of this waterway. We look forward to seeing what the team will accomplish with the boat and outboard.”

For more information about Keep the Tennessee River Beautiful or to volunteer, please visit keeptnriverbeautiful.org.

Yamaha Rightwaters™ is a national sustainability program that encompasses all of Yamaha Marine’s conservation and water quality efforts. Program initiatives include habitat restoration, support for scientific research, mitigation of invasive species, the reduction of marine debris and environmental stewardship education. Yamaha Rightwaters reinforces Yamaha’s long-standing history of natural resource conservation, support of sustainable recreational fishing and water resources and Angler Code of Ethics, which requires pro anglers to adhere to principles of stewardship for all marine resources.

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

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

© 2020 Yamaha Motor Corporation, U.S.A. All rights reserved.

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

Melissa Boudoux
Communications Manager
Yamaha Marine Engine Systems
Office: (770) 701-3269
Mobile: (404) 381-7593
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Neal Wheaton
Wilder+Wheaton for
Yamaha Marine Engine Systems
Mobile: (404) 317-0698
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ComEd expects majority of customers to be restored by Friday

CHICAGO--(BUSINESS WIRE)--ComEd crews have restored power to more than 60 percent of customers affected by a derecho that moved across the region Monday afternoon and brought hurricane force wind gusts in excess of 90 miles per hour, nearly 4,300 lightning strokes, a tornado in Chicago’s Rogers Park neighborhood and golf ball sized hail.

The company has restored service to 541,000 customers. Approximately 343,000 customers remain without power. ComEd’s smart grid investments since 2012 – such as technologies that automatically detect outages and reroute power around problem areas – helped ComEd restore service to 440,000 customers in the first 16 hours after the storm and avoid many more outages that would have occurred in a storm this severe.

The storm caused significant damage across the service territory, including downed poles, broken lines and damage from uprooted trees and broken branches. ComEd expects to restore power to the majority of customers by Friday night, with some customer outages in pockets with the most significant damage lasting until Saturday. ComEd will update customers’ individual restoration times with more accurate estimates as crews continue to assess damage and make needed repairs.

“ComEd appreciates the patience of our customers following this severe storm,” said Terry Donnelly, president and COO. “The damage from this storm was significant. As we continue to restore power to customers in hard hit communities, the safety of our customers and our crews remains our top priority.”

ComEd has more than 1,900 employees and contractors working around the clock to restore energy to affected customers as quickly and safely as possible. Additionally, more than 1,400 mutual assistance workers are coming in from out of state to assist in restoration efforts.

ComEd offers the following tips and information for customers to stay safe following severe weather:

• If you encounter a downed power line, immediately call ComEd at 1-800-EDISON1 (1-800-334-7661) or go to ComEd.com to report the location. Spanish-speaking customers should call 1-800-95-LUCES (1-800-955-8237).
• Never approach a downed power line. Always assume a power line is energized and extremely dangerous.
• In the event of an outage, do not approach ComEd crews working to restore power to ask about restoration times. Crews may be working on live electrical equipment and the perimeter of the work zone may be hazardous.

Earlier technology issues with the phone system, website, and text reporting tools have been largely resolved, although there may be some intermittent interruptions as the systems become fully operational. ComEd urges customers to contact the company immediately if they experience a power outage. Customers can text OUT to 26633 (COMED) to report an outage and receive restoration information, and can follow the company on Twitter @ComEd or on Facebook at Facebook.com/ComEd. Customers can also call 1-800 EDISON1 (1-800-334-7661), or report outages via the website at www.ComEd.com/report. Spanish-speaking customers should call 1-800-95-LUCES (1-800-955-8237).

ComEd has introduced a mobile app for iPhone and Android® smart phones that gives customers the ability to report power outages and manage their accounts; download the app at www.ComEd.com/app.

ComEd has an interactive outage map on its website at www.ComEd.com/map, which allows customers to easily find information on the location and size of outages and get estimated power restoration times.

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

ComEd Media Relations
312-394-3500

Partnership Brings Together Augury Predictive Diagnostics and DSV Global Supply Chain Management Capabilities to Create Integrated Diagnostics- and Parts-as-a-Service Capability

TEL-AVIV, Israel & NEW YORK--(BUSINESS WIRE)--Augury, a leading AI-based Machine Health solution provider, and DSV Air & Sea, a global supply chain leader, today announced a new partnership that integrates Augury’s predictive diagnostics for industrial equipment with DSV’s world-class logistics and shipping capabilities. Together the companies have created an industry-first offering that delivers Machine Diagnostics and Parts Logistics as an integrated service for industrial and manufacturing companies.

Customers utilizing both offerings can now have the predictive diagnostics alerts from Augury’s Machine Health solution trigger the delivery of required replacement parts via DSV’s global network. This integration ensures that the necessary parts are available for maintenance or repairs, reducing the need for customers to stock and manage spare parts for crucial equipment. The new offering provides customers increased value during their move towards condition-based monitoring, reducing costs and lost productivity associated with scheduled maintenance, while also mitigating unplanned downtime due to unexpected machine failures.

“Our goal is to offload as much of the logistics burden as possible from our customers so they can focus on doing what matters most – delivering the products and services their customers need,” said Ofir Bronhaim, Innovation Manager for DSV Israel. “Now in partnership with Augury we can extend that value deeper into the manufacturing process itself, helping customers improve supply chain resilience and reducing the costs associated with having to maintain inventories of spare parts and the risks of not being able to get the parts they need when they need them.”

“The value and scope of our Machine Health solutions continue to broaden for our customers,” said Amir Bahalul, Technical Solutions Lead for Innovation for Augury. “As we increase the insights and accuracy of our AI-driven diagnostics, our partners are establishing new ways to leverage those insights, creating opportunities to lower costs, reduce risk and deliver enhanced business value for our joint customers.”

Today, manufacturing and industrial companies are working to meet customer demand in the face of global supply chain challenges, balancing the need to control costs with the need to ensure production facilities are up and running whenever required, often with reduced staff onsite. The new solution from DSV and Augury helps meet these needs, letting customers gain benefits of Machine Health-as-a-service and outsource logistics for parts delivery and supply chain management. Customers can focus on their business production processes while DSV and Augury help ensure key production lines will be up and running.

DSV and Augury will work together to bring this solution to current and new customers, focusing on industries where production downtime has a direct impact on profitability, growth and customer satisfaction.

About Augury

Augury is building a world where people can always rely on the machines that matter. Augury supports its customers by enabling Digital Transformation through superior insights into the health and performance of the machines they use to make products, deliver services and improve lives. To learn more about Augury’s machine health solutions, visit http://www.augury.com.

About DSV

DSV Air & Sea is a Danish transport and logistics company offering transport services globally by road, air, sea and train. Since its foundation in 1976 by nine independent Danish hauliers, the company has achieved rapid expansion and international presence, predominantly through a series of strategic competitor acquisitions.

With headquarters in Hedehusene (near Copenhagen), Denmark, and offices in more than 80 countries, DSV Panalpina employs 60,000 people and collaborates with partners and agents globally.[1] The company is listed on NASDAQ OMX Copenhagen (Copenhagen Stock Exchange) and included in the OMXC25 index as one of the 25 most traded stocks.[2]

To learn more about DSV visit https://www.dsv.com/en

Sean Welch
Augury
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781-223-4767

P97 Networks to enable contactless mobile payments for one of Asia-Pacific’s leading oil companies

SINGAPORE--(BUSINESS WIRE)--P97 Networks, Inc., has been selected by Mobil Oil New Zealand Limited, an affiliate of ExxonMobil Asia Pacific Pte Ltd, to enable mobile payments across its Mobil-branded retail network in New Zealand. ExxonMobil Asia Pacific is the downstream and chemical business hub for the region with over $15 billion of assets under affiliate management. Houston-based P97 Networks is a leader in cloud-based mobile commerce, in-vehicle payments, and frictionless digital marketing solutions. P97’s integrated mobile commerce solution has been enabled at over 170 Mobil Service Stations in New Zealand, its first market for an ExxonMobil affiliate in Asia Pacific, with the platform encompassing secure cloud payments, the Mobil Smiles Driver Rewards program and digital marketing.

“Shoppers around the world have quickly shifted towards the ease, convenience and safety of contactless mobile payments for all of their daily spend categories,” says Paul Clausen, Card Loyalty Payments Manager at Mobil Oil New Zealand. “As a global leader in energy, we looked for similar leadership in mobile commerce so that our customers realise the same benefits when purchasing fuel and in-store products. We chose P97 because they have proven their ability to deliver high levels of services at scale via their mobile commerce and digital marketing platform.”

P97 provides a cloud-based mobile commerce and digital marketing platform that connects shoppers to retail fuel, convenience, quick-serve restaurants, and other merchants by enabling payments and omni-channel offers through any mobile device or connected car. By removing friction from the transaction and enabling merchants to focus on the shopper experience, retailers can increase sales, build greater loyalty, and lower operating costs. Mobile payments also offer greater security for fuel transactions, protecting sensitive cardholder data and avoiding specific forms of fraud.

“We are honoured that ExxonMobil has selected P97 to manage mobile commerce across Mobil New Zealand Stations,” says Brad Jones, Managing Director, Asia Pacific at P97. “The explosive growth of the mobile payments market means consumers have an expectation for frictionless payments at the pump. By going mobile, ExxonMobil further strengthens its position in a highly competitive region and creates experiences that drive greater consumer loyalty.”

About P97

P97 Networks provides secure, cloud-based mobile commerce, in-vehicle payments, and digital marketing solutions for the convenience retail, fuel, and vehicle manufacturing industries under the brand name PetroZone®. P97’s mCommerce solutions enhance the ability to attract and retain customers by securely connecting millions of individual mobile phones and connected cars with merchants using identity, geolocation-based software that creates a unique mobile consumer experience. For more information, follow us on Twitter @p97networks or visit www.p97.com.

Aaron Mirales
+1 (713) 588-4216
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TORONTO--(BUSINESS WIRE)--Toronto-based cleantech company EnergyX Solutions Inc. has raised an additional $1 million as it looks to accelerate its expansion into the U.S. Financing was led by BDC Capital’s Growth and Transition Capital division (BDC Capital) in the form of non-dilutive capital.

This new round brings the total amount raised by EnergyX to $5M in equity and non-dilutive financing since its inception in 2016.

EnergyX helps utilities run energy efficiency programs end-to-end. Through machine learning, customers with high energy savings potential are automatically identified, targeted and enrolled in utility energy efficiency programs. Customer communication and tracking is streamlined through an active dashboard that also provides insights into program performance. Utility organizations white-label the platform and roll it out to homes and businesses across North America with the objective to increase customer engagement, participation and streamline workflows in their energy efficiency programs.

Buildings account for thirty-six percent (36%) of global energy use and thirty-nine percent (39%) of energy-related carbon dioxide emissions annually. Improving buildings is the most straightforward way to reduce emissions — often with net economic benefit. The challenge in unlocking these savings is identifying the homes and buildings that are most in need of upgrades and deep retrofit opportunities. Using EnergyX’s Retrofit AI software, these buildings can be identified instantaneously and at scale. EnergyX estimates that if every home in North America used Retrofit AI, greenhouse gas emissions could be reduced by 10%.

“Energy efficiency remains the most cost-effective option to meet our climate change goals and support people who are battling high energy costs,” said Nishaant Sangaavi, CEO and Co-Founder of EnergyX Solutions, “We are excited to welcome BDC Capital as an investor in EnergyX. This recent round of financing will be instrumental in further accelerating our growth in North America and beyond.”

To date, EnergyX’s software tools have served 5 million homes across North America and its product suite has been proven and validated by professional engineering teams at government organizations, educational institutions and large utilities. In 2019, EnergyX was able to successfully expand within the U.S. market, and is currently providing its solution to utilities across California, Washington DC, Ohio and New England.

“We have a track record of investing in enterprise SaaS businesses and EnergyX Solutions fit our investment criteria perfectly - business software, a great product and impressive customer traction within a large addressable market that solves a significant global problem,” said Kyle Feucht, Director, Growth & Transition Capital at BDC Capital’s Toronto office. “EnergyX has strong leadership, a great team and we look forward to a long-term relationship with them,” added Kyle, who led the financing.

COVID-19 created an unprecedented need for utilities to rethink day-to-day processes and the way they manage relationships with customers. Organizations are seeking new tools to help them embrace a digital strategy, including remote work for employees and remote engagement with their customer base. EnergyX’s Retrofit AI solution optimizes on-site visits and minimizes truck-rolls by intelligently segmenting a customer base and streamlining incentive delivery. In a world where remote engagement and digital workflows have become paramount, EnergyX is helping energy organizations maximize employee and customer satisfaction by creating a data-driven and automated journey toward energy efficiency.

About EnergyX Solutions:

EnergyX Solutions Inc. is an AI-powered SaaS company that enables utilities to increase customer participation in energy efficiency programs while simultaneously lowering the utility’s cost to engage and serve a customer. Their MIT-award winning technology is white-label licensed by utilities and government organizations to help them engage customers, manage programs and hit energy efficiency targets. Visit www.energyxsolutions.com.

About BDC Capital:

BDC Capital is the investment arm of BDC - Canada’s only bank devoted exclusively to entrepreneurs. With more than $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital.

Energy X Solutions
Angelica Pereira
Client Engagement Executive
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Joanne Lajeunesse
Media Relations
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LONDON--(BUSINESS WIRE)--#GlobalSCADAMarket--Technavio has been monitoring the scada market and it is poised to grow by $ 8.22 bn during 2020-2024, progressing at a CAGR of 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on Covid-19 Impact

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., and Yokogawa Electric Corp. are some of the major market participants. Although the increased extraction of shale gas will offer immense growth opportunities, high initial cost of implementation will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Increased extraction of shale gas has been instrumental in driving the growth of the market. However, high initial cost of implementation might hamper market growth.

SCADA Market 2020-2024 : Segmentation

SCADA Market is segmented as below:

• End-user
  • Oil And Gas
  • Manufacturing
  • Power
  • Water And Wastewater Treatment
  • Others
• Geography
  • APAC
  • North America
  • Europe
  • MEA
  • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43934

SCADA Market 2020-2024 : Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our scada market report covers the following areas:

• SCADA Market size
• SCADA Market trends
• SCADA Market industry analysis

This study identifies growing demand for cloud-based SCADA systems as one of the prime reasons driving the scada market growth during the next few years.

SCADA Market 2020-2024 : Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the scada market, including some of the vendors such as ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Toshiba Corp., and Yokogawa Electric Corp. Backed with competitive intelligence and benchmarking, our research reports on the SCADA Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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SCADA Market 2020-2024 : Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist scada market growth during the next five years
• Estimation of the scada market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the scada market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of scada market vendors

Table Of Contents :

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

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

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• Oil and gas - Market size and forecast 2019-2024
• Manufacturing - Market size and forecast 2019-2024
• Power - Market size and forecast 2019-2024
• Water and wastewater treatment - Market size and forecast 2019-2024
• Others - Market size and forecast 2019-2024
• Market opportunity by End-user

Market Segmentation by Type

• Market segments
• Comparison by Type
• Solutions - Market size and forecast 2019-2024
• Services - Market size and forecast 2019-2024
• Market opportunity by Type

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers – Demand led growth
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• ABB Ltd.
• Emerson Electric Co.
• General Electric Co.
• Honeywell International Inc.
• Mitsubishi Electric Corp.
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG
• Toshiba Corp.
• Yokogawa Electric Corp.

Appendix

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

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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• New Puma Smart 2500 Battery extends Puma LE’s flight time by nearly 20 percent with up to 6.5 hours of endurance, delivering longer time on station, greater range, and maximizing its multi-mission capabilities
• Now compatible with Puma 2 AE, Puma 3 AE and Puma LE, the Puma Bungee Launch System (BLS) expands aircraft launch options and operational capabilities

SIMI VALLEY, Calif.--(BUSINESS WIRE)--$AVAV #AeroVironment--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced the launch of two new Puma product line enhancement options that reinforce the company’s commitment to continuous improvement and expanding the operational capabilities of its family of tactical UAS. The newly announced product enhancement options are a result of AeroVironment’s collaboration with front-line users to develop innovative solutions that enable customers to proceed with certainty in ever-changing operational environments.

Puma Smart 2500 Battery – Puma LE

Available for Puma™ LE, the optional Puma Smart 2500 Battery allows operators to achieve an extended flight time of up to 6.5 hours. The increased endurance provides operators with greater time on station, maximizing Puma LE’s multi-mission capabilities across land and maritime environments. This high-energy-density, lithium-ion battery pack features an improved capacity of 24.5Ah (amp-hours) while retaining the size and form factor needed to be seamlessly integrated into Puma LE’s existing battery bay.

Puma Bungee Launch System (BLS)

AeroVironment’s Puma Bungee Launch System (BLS), a military-grade bungee launcher that is standard equipment with every Puma LE system, is now available as an enhancement option for Puma 2 AE and Puma 3 AE. The BLS allows for the assisted launch of Puma AE UAS in environmental conditions where hand launch is not practical or is limited. Designed with mission-flexibility in mind, the BLS can be securely installed in a variety of soil types or mounted to low, immovable objects. The lightweight and portable all-environment system can be set up and operational in less than 10 minutes.

“AeroVironment is committed to anticipating and delivering innovative solutions that are critical to tactical UAS operators downrange,” explains Rick Pedigo, vice president of sales and business development for AeroVironment. “These two new enhancement options will expand our customers’ operational capabilities, while maximizing operator safety and improving operational efficiency, allowing them to focus on the mission at hand.”

The Puma Bungee Launch System is currently available for order/delivery, and the Puma Smart 2500 Battery will be available for order/delivery before the end of the third quarter, calendar year 2020. For more information, visit www.avinc.com

About Puma LE

Delivering Group 2 capabilities in a Group 1 footprint, the AeroVironment Puma™ LE weighs only 23.5 pounds (10.7 kilograms), is launchable by hand or bungee and provides a dedicated secondary payload bay in addition to its Mantis i45 EO/IR sensor suite. When used with AeroVironment’s Puma Smart 2500 Battery and Long-Range Tracking Antenna (LRTA), flight endurance is expanded to 6.5 hours with an operational range of 37.3 miles (60 kilometers). Puma LE’s economical dual-case mission pack contains everything needed to perform two complete 6.5-hour missions with a single aircraft, optional Puma Smart 2500 Battery and Ground Control System (GCS). Puma LE utilizes plug and play, interoperable line-replaceable unit (LRU) components that can be shared with other Puma AE aircraft.

About AeroVironment Tactical UAS

The RQ-20A/B Puma™, Puma™ LE, RQ-11B Raven®, RQ-12A Wasp®, VAPOR® Helicopter, together with Quantix™ Recon, comprise AeroVironment’s family of tactical unmanned aircraft systems. This family of systems provides increased capability to the warfighter that gives ground commanders the option of selecting the appropriate aircraft based on the type of mission to be performed. This increased capability has the potential to provide significant force protection and force multiplication benefits to small tactical units and security personnel. AeroVironment provides logistics services worldwide to ensure a consistently high level of operational readiness. AeroVironment has delivered thousands of new and replacement tactical unmanned air vehicles to customers within the United States and to 50 allied governments.

About AeroVironment, Inc.

AeroVironment (NASDAQ: AVAV) provides customers with more actionable intelligence so they can proceed with certainty. Based in California, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves defense, government, and commercial customers. For more information, visit www.avinc.com.

Safe Harbor Statement

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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AeroVironment, Inc.
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HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. ("Helix") (NYSE: HLX) announced today it has priced an upsized offering of $200 million principal amount of 6.75% Convertible Senior Notes due 2026 (the “2026 Notes”). The size of the offering was increased from the previously announced $175 million aggregate principal amount. Helix expects to close the offering of the 2026 Notes on or about August 14, 2020, subject to the satisfaction of customary closing conditions. Wells Fargo Securities, LLC and Evercore ISI are acting as joint book-running managers for the offering.

The 2026 Notes are to be issued via an underwritten public offering, resulting in expected net proceeds of approximately $192.5 million, after deducting underwriting fees and estimated offering expenses. Helix intends to use approximately $10.5 million of the net proceeds from the offering to fund the cost of entering into the capped call transactions described below. Helix intends to use approximately $183 million (or approximately $186 million with accrued interest), consisting of the remainder of the net proceeds together with cash on hand, to repurchase approximately $90 million aggregate principal amount of its outstanding 4.25% Convertible Senior Notes due 2022 (the “2022 Notes”) and approximately $95 million aggregate principal amount of its outstanding 4.125% Convertible Senior Notes due 2023 (the “2023 Notes” and, together with the 2022 Notes, the “Outstanding Notes”) in privately negotiated transactions effected through one of the underwriters or its affiliate, as Helix’s agent, concurrently with the offering (the “repurchase transactions”).

Interest on the 2026 Notes will be paid semi-annually on February 15 and August 15 of each year beginning on February 15, 2021. During certain periods and subject to certain conditions, the 2026 Notes will be convertible by holders based on an initial conversion rate of 143.3795 shares of common stock per $1,000 principal amount of 2026 Notes, which is equivalent to an initial conversion price of approximately $6.97 per share of common stock, subject to adjustment. Upon conversion, holders will receive, at Helix’s discretion, cash, shares of Helix’s common stock or a combination thereof.

In addition, the holders of the 2026 Notes may require Helix to repurchase the 2026 Notes under certain circumstances, and Helix may redeem all or any portion of the 2026 Notes, at its option, on or after August 15, 2023 (but, in the case of a partial redemption, no later than the 40th scheduled trading day immediately before the maturity date), subject to certain conditions, at a redemption price payable in cash equal to 100% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest and a “make-whole premium” with a value equal to the present value of the remaining scheduled payments of interest on the 2026 Notes to be redeemed through February 15, 2026.

The terms of the repurchase transactions were negotiated individually with holders of the Outstanding Notes based on several factors, including the market price of Helix’s common stock and the trading price of the 2022 Notes and the 2023 Notes at the time of such repurchase(s). The repurchase transactions may affect the market price of Helix’s common stock. Helix also expects that holders of Outstanding Notes that sell such Outstanding Notes to it may enter into or unwind various derivatives with respect to Helix’s common stock and/or purchase or sell shares of its common stock in the market to hedge their exposure in connection with these transactions. In particular, Helix expects that many holders of the Outstanding Notes employ a convertible arbitrage strategy with respect to such Outstanding Notes and have a short position with respect to Helix’s common stock that they would close, through purchases of its common stock, in connection with Helix’s repurchase, if any, of their Outstanding Notes. This activity could increase (or reduce the size of any decrease in) the market price of Helix’s common stock or the 2026 Notes at that time, which could also impact the initial conversion prices of the 2026 Notes.

In connection with the pricing of the 2026 Notes, Helix entered into one or more privately negotiated capped call transactions with one or more of the underwriters of the offering and/or their respective affiliates and/or other financial institutions (the “option counterparties”). The capped call transactions are expected generally to reduce the potential dilution to Helix’s common stock upon any conversion of the 2026 Notes or at the election of Helix (subject to certain conditions) to offset any cash payments that Helix may be required to make in excess of the aggregate principal amount of the converted 2026 Notes, as the case may be, upon any conversion of the 2026 Notes, with such reduction or offset subject to a cap. The cap price of the capped call transactions will initially be $8.4175 per share of Helix's common stock, which represents a premium of 75% over the closing price of Helix’s common stock on the NYSE of $4.81 per share on August 11, 2020.

Helix has been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to enter into cash-settled over-the-counter derivative transactions with respect to Helix’s common stock concurrently with, or shortly after, the pricing of the 2026 Notes and may unwind these cash-settled over-the-counter derivative transactions and purchase shares of Helix’s common stock in open market transactions following the pricing of the 2026 Notes. This activity could increase (or reduce the size of any decrease in) the market price of Helix’s common stock, the 2026 Notes or other equity-linked securities of Helix at that time. In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Helix’s common stock and/or purchasing or selling shares of Helix’s common stock or other securities of Helix in secondary market transactions following the pricing of the 2026 Notes and from time to time prior to the maturity of the 2026 Notes (and are likely to do so on each exercise date of the capped call transactions, which are expected to occur during the observation period prior to the maturity date of the 2026 Notes (the 40 trading day period beginning on the 41^st scheduled trading day prior to the maturity date of the 2026 Notes), or following any termination of any portion of the capped call transactions in connection with any repurchase, redemption or conversion of the 2026 Notes if Helix makes the relevant election under the capped call transactions). This activity could also cause or avoid an increase or a decrease in the market price of Helix’s common stock, the 2026 Notes or other equity-linked securities of Helix, which could affect the ability of holders of the 2026 Notes to convert their 2026 Notes and, to the extent the activity occurs during any observation period related to a conversion of the 2026 Notes, it could affect the number of shares of Helix’s common stock and value of the consideration that holders of the 2026 Notes will receive upon conversion thereof.

The 2026 Notes are being offered pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (the “SEC”). Copies of the prospectus and prospectus supplement relating to the offering may be obtained from the offices of Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York 10001, Telephone: 800-326-5897, Email: This email address is being protected from spambots. You need JavaScript enabled to view it. or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, New York 10055, Telephone: 888-474-0200, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.. Electronic copies of the prospectus and prospectus supplement may also be obtained, when available, by visiting EDGAR on the SEC’s website at www.sec.gov.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Helix

Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding any repurchases of Outstanding Notes, capped call transactions or other use of proceeds from the offering or effects of the transactions described in this press release; our strategy; any statements regarding visibility and future utilization; any projections of financial items; any statements regarding future operations expenditures; any statements regarding the plans, strategies and objectives of management for future operations; any statements regarding our ability to enter into and/or perform commercial contracts; any statements concerning developments; any statements regarding future economic conditions or performance; any statements regarding the offering and the use of proceeds therefrom; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. The forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to the potential effects of the transactions described in this press release; the COVID-19 pandemic and actions by governments, customers, suppliers and partners with respect thereto; market conditions; results from acquired properties; demand for our services; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities; operating hazards and delays, which includes delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; our ultimate ability to realize current backlog; employee management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in our reports filed with the SEC, including Helix’s most recently filed Annual Report on Form 10-K and in Helix’s other filings with the SEC, which are available free of charge on the SEC’s website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by the securities laws.

Erik Staffeldt, 281-618-0465
Executive Vice President & CFO
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DUBLIN--(BUSINESS WIRE)--The "Shale Gas Market Size, Share & Trends Analysis Report By Application (Industrial, Power Generation, Residential, Commercial, Transportation), By Region, And Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.

The global shale gas market size is expected to reach USD 131.1 billion by 2027, ascending at a CAGR of 8.5% over the forecast period.

Rising demand for cleaner combustion energy sources in several end-use applications is likely to drive the market over the forecast period.

Profitable production of shale gas, a natural gas trapped in shale formations, relies on accessible demand for it. It has technical characteristics that make it a very useful and flexible fuel, where the delivery infrastructure exists, and it has found uses in the building thermal sector, industrial thermal sector, and power generation. Recent macroeconomic shifts along with fuel supply competitive dynamics have caused the proportions to favor shale gas usage in power generation more and industrial usage less.

Shale gas contributes substantial energy to electricity generation and second only to coal in terms of the share of energy supply in global electricity generation. This share is expected to grow over the next few decades in response to the economic and environmental limits of coal generation, at least where natural gas is a viable alternative. This end-use application is expected to drive the market over the forecast period.

The shale gas supply chain includes production and processing, gas transmission and storage, and distribution to city gate, large volume customers, residential customers, and commercial customers. Development of hydraulic fracturing technology along with horizontal drilling technique is expected to boost economical production of shale gas, thereby strengthening the upstream segment of the supply chain.

Shale Gas Market Report Highlights

• North America occupied the largest market revenue share in 2019, with U.S. being the major contributor to the regional market. Abundant shale gas reserves along with development of advanced drilling technology are among the key factors influencing industry growth
• Potential shale gas resources in China are attracting huge investments from major market players all over the world in order to extract and produce unconventional gas from the reserves
• The power generation segment occupied the largest market share of 36.1% in 2019 owing to growing demand of natural gas in coal-to-gas electricity generation plants
• The transportation sector is estimated to witness a significant CAGR owing to increasing number of Compressed Natural Gas (CNG) fueled vehicles across the automotive industry.

Market Dynamics

Driver Analysis

• Advancement in drilling technology
• Abundant reserves

Restraint/ Challenges Analysis

• High production cost

Companies Mentioned

• Royal Dutch Shell PLC
• ConocoPhillips
• PetroChina Company Limited
• Exxon Mobil Corporation
• Chevron Corporation
• Chesapeake Energy Corporation
• Equinor ASA
• Repsol SA
• Southwestern Energy Company
• SINOPEC/Shs

For more information about this report visit https://www.researchandmarkets.com/r/dkdex4

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Factoring extends innovative QuickPay program to non-Convoy loads and introduces new fuel card to help carriers save an industry-leading $19,000 a year in operating costs.

SEATTLE--(BUSINESS WIRE)--Convoy, the nation’s most efficient digital freight network, today announced Convoy Factoring, powered by Apex Capital, a new payment service for carriers that provides same or next day payment, with no hidden fees and no lock-in contracts. Convoy now offers qualified carriers access to immediate payment, at a rate of 0% with QuickPay for Convoy loads and 1% - 2.99% with factoring for non-Convoy loads. A carrier hauling half of their loads with Convoy sees an average rate of 1.45%, which is 57% better than the industry average, saving them $7,000 in factoring costs and associated fees. Additionally, Convoy launched a new fuel card which helps address the single biggest cost to carriers on the road. The Convoy fuel card saves carriers an average of 63* cents per gallon, 3x better than the industry average, putting up to $12,000 per truck per year back in drivers’ pockets.

Over 90% of the carriers in the U.S. are small fleets with 10 or fewer trucks. Some of the biggest over the road expenses for these carriers are fuel and factoring. Today, drivers hauling for traditional brokers face a tough decision, either wait up to 60 days for payment or use a factoring service that costs an average of 3.5%, and can include hidden fees and lengthy lock-in contracts. A carrier can pay more than $9,000 of their take home pay in factoring and associated fees. Meanwhile drivers are at the mercy of fuel costs and typically pay another $52,000 a year just to fill their tanks. While traditional fuel cards offer a modest offset to these costs, they don’t provide a convenient way to line-up fuel saving discounts on the routes carriers are running, and as a result, often go unused.

Driving a truck is one of the most important jobs across our nation. Yet the vast majority of carriers who work with traditional brokers are forced to wait up to 60 days following a job just to get the money they’ve earned, to cover their expenses and provide for their families,” said Dan Lewis, CEO of Convoy. “Our continued focus is to help carriers earn more, and keep more of their hard-earned pay, while removing many of the day-to-day hassles of the job. Extending Convoy QuickPay to cover non-Convoy loads, with low rates and a best-in-class fuel card, provides the industry’s leading option for savings.”

New Convoy Factoring extends innovative QuickPay program to non-Convoy loads

Carriers now gain the convenience of getting paid the same or next day, with Convoy Factoring, at a low rate for non-Convoy loads and at 0% for Convoy loads, with QuickPay. Combined, a carrier’s rate can be up to 57% lower than the industry average when a carrier hauls half of their loads with Convoy.

Convoy Factoring has no contract lock-in, allowing carriers to try the service without risk. With no invoice or transaction fees, carriers can keep their cash flow constant by submitting each invoice individually instead of waiting and submitting multiple invoices together. The Convoy Factoring process has been fully integrated into the Convoy mobile app to enable carriers to submit invoices and find their next load with a few taps, in one place. By partnering with Apex Capital, Convoy provides carriers with the trusted, high-quality service offered by Apex Capital for more than 25 years.

“Convoy was the first to innovate with free QuickPay, allowing tens of thousands of carriers to get paid in two days and with no fees when they drove for Convoy,” said Ziad Ismail, Convoy Chief Product Officer. “This is a benefit that the majority of brokers still do not offer to carriers. Today we take that innovation and support for carriers a major step further with Convoy Factoring, offering carriers the lowest average rate in the industry across all of the loads they haul, which puts more money back in their pockets.”

“Convoy Factoring will be amazing for our business. No haggle, no hidden fees, no stress. The rates are top notch and I will be able to save thousands of dollars this year alone,” said Mike Bhangu, a Kent, Washington-based carrier who has been working with Convoy since 2016. “I love that I will be able to factor directly in the app within seconds. It will be my one stop shop for getting paid for all my loads and finding what I will haul next.”

New Convoy fuel card can save carriers $12,000 per truck per year

Today, Convoy addresses one of the largest expenses for carriers with the introduction of the Convoy fuel card. Carriers who sign up for Convoy’s fuel card can save an industry-leading average of 63* cents per gallon at the pump, 3x more than the industry average of 20 cents. With carriers consuming more than 18,000 gallons per year, the discount offered by the Convoy fuel card can save carriers more than $12,000 per truck per year.

Now, carriers get the best fuel discounts without paying any transaction fees at more than 1,000 participating truck stops across the country, including TA-Petro, Ambest, Roady’s and Sapp Bros. In addition to offering an industry leading discount, Convoy has built a new in-app integration which includes an interactive map of truck stops and fuel prices enabling carriers to consider available fuel discounts on the route when searching for their next load. The ability to plan their route and identify fuel stops, easily and simultaneously, is essential for drivers to maximize their savings.

“Each of our trucks goes through more than 60 gallons per day, so fuel is consistently one of my biggest expenses. With the big savings I will get from using the Convoy fuel card, I’ll save thousands of dollars that I can reinvest back into my business,” said Inderjit Gill, a Manteca, California-based carrier that has been working with Convoy since 2018.

*63¢ per gallon is based on client transactions using participating truck stops for Q2 of 2020

About Convoy

Convoy is the nation’s most efficient digital freight network. We move thousands of truckloads around the country each day through our optimized, connected network of carriers, saving money for shippers, increasing earnings for drivers, and eliminating carbon waste for our planet. We use technology and data to solve problems of waste and inefficiency in the $800B trucking industry, which generates over 72 million metric tons of wasted CO2 emissions from empty trucks. Fortune 500 shippers like Anheuser-Busch, P&G, Niagara, and Unilever trust Convoy to lower costs, increase logistics efficiency, and achieve environmental sustainability targets. Convoy.com

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Sam Hallock, Corporate Communications
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425-241-8954

HOUSTON--(BUSINESS WIRE)--#energymarketing--Northland Power Inc. (Northland), a power producer dedicated to developing, building, owning and operating clean and green infrastructure assets in Canada, Europe (and other global jurisdictions), has selected PCI’s industry-leading ETRM cloud software platform to optimize energy trading and wholesale operations as a Qualified Supplier in the Mexico Wholesale Electricity Market (MEM).

PCI’s ETRM platform will help optimize Northland’s existing pipeline of renewable energy resources and energy supply contracts as a Qualified Supplier to achieve the following business benefits:

• Efficiency through automation; providing staff with more time for value-add activities
• Enhanced strategic decision-making and risk mitigation based on more accurate and timely information
• Reduced operational and marketing risk using in-depth position management
• Greater precision and speed in revenue accounting and back-office operations
• Scalable marketing functionality to meet both current and future strategies

Morgan Tarves, Senior Director at Northland Power, stated, “We wanted to select an experienced, established vendor with a robust platform to maximize value for our customers. After an in-depth evaluation, we found PCI to have the most comprehensive offering for our immediate and future business requirements.”

Shailesh Mishra, PCI Vice President, noted, “We value Northland’s trust in our software platform and our experience with similar customers in Mexico. With this partnership, PCI further strengthens its position as the preeminent software provider for large global renewable power companies.”

PCI’s Platform comes out-of-the-box with all the required data interfaces, embedded analytics, business process automation, open data, and risk reporting capabilities that offer unparalleled “end-to-end” support for front, mid, and back-office business functions. PCI’s Platform is utilized by companies representing more than 80% of the power generation capacity in Mexico’s wholesale market. Clients include CFE, Iberdrola, Naturgy, ATCO Power, Ammper Energía, and others.

About Power Costs, Inc. (PCI)

PCI is the leading provider of energy management software, superior customer support, and value-added services for energy-focused companies. Founded in 1992, PCI continues to refine and develop new software solutions that meet the evolving needs of its clients, which include investor-owned, municipal and cooperative utilities, independent power producers, as well as energy marketing and trading organizations worldwide. PCI optimizes power portfolios representing:

• More than 60% of the generation capacity in the U.S
• Over 70% of Fortune 500 Energy & Utility firms in the U.S.
• More than 80% of the generation capacity in Mexico

PCI is a privately held company based in Norman, Oklahoma with offices in Houston (TX), Raleigh (NC), and Mexico City. To learn more, please visit our company website.

About Northland Power

Northland is a global developer, owner and operator of sustainable infrastructure assets that deliver predictable cash flows. Headquartered in Toronto, Canada, Northland was founded in 1987 and has been publicly traded since 1997 on the Toronto Stock Exchange (TSX: NPI).

Northland owns or has an economic interest in 2,681 MW (net 2,266 MW) of operating generating capacity and 130 MW of generating capacity under construction, representing the La Lucha solar project in Mexico. Northland also owns a 60% equity stake in the 1,044 MW Hai Long projects under development in Taiwan and operates a regulated utility business in Colombia.

Northland's common shares, Series 1, Series 2 and Series 3 preferred shares trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B, NPI.PR.C, respectively.

To learn more, please visit our company website.

Stuart Wright, Director
Power Costs, Inc. (PCI)
+1-303-917-3565
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DUBLIN--(BUSINESS WIRE)--The "Gas Turbine Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Technology; Capacity; Application; and Geography" report has been added to ResearchAndMarkets.com's offering.

The gas turbine market was valued at US$ 21,015.97 million in 2018 and is projected to reach US$ 29,447.30 million by 2027; it is expected to grow at a CAGR of 3.9% from 2019 to 2027.

Gas Turbine is an internal combustion engine containing combustion chambers, which releases expanding gases that drive the blades of a turbine. The gas turbine converts natural gas and other liquids into mechanical energy. This energy fuels generators to produce electrical energy. There are various advantages associated with gas turbines, such as high power to weight ratio and low operations pressure. Despite being small in size, the gas turbines possess a high power rating. They reduce carbon emissions and release fewer emissions into the air compared to other engines.

Based on application, the gas turbine market is segmented into power generation, oil and gas, and Industrial. The power generation segment accounted for the largest share of the market in 2018. The gas turbines are one of the most widely used technologies deployed in the production of power. A gas turbine is used for converting the liquid fuels or natural gas that is fed to it, into mechanical energy. This mechanical energy further drives the generator to produce electrical energy. The electrical energy is then supplied to homes and businesses via power lines.

The gas turbine heats up a mixture of air and fuel at extremely high temperatures that result in the spinning of turbine blades. These spinning blades in turn drive the generator to produce power. One must not ignore that it is the production of hot gas during fuel combustion and not the fuel itself that spins the turbine blades. The environment friendly properties of gas turbines of using natural gas and producing less gas pollution has favored the power generation segment of gas turbine market worldwide.

Geographically, the gas turbine market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America held the largest share of the global market in 2018, followed by Europe. The growth of the market in North Americas primarily attributed to rapid growth in the power generation industry in this region. Additionally, the growth of the gas turbine market in this region is primarily attributed to increasing environmental regulations enforced by the government to reduce the rate of carbon footprint along with low shale prices.

A rapid rise in energy demand, especially from manufacturing plants and other related industrial establishments, is further expected to fuel the market growth. Besides this, swift developments in the power generation sector in leading countries such as the US and Canada boosts the demand for gas turbines in the North America region. Low costs related to power generation and technological advancements are also expected to boost the growth of the gas turbine market in the North American region.

Reasons to Buy:

• Highlights key business priorities to assist companies realign their business strategies.
• Featureskey findings and crucial progressive industry trends in the global gas turbine market, thereby allowing players to develop effective long-term strategies.
• Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
• Scrutinizes in-depth market trends as well askey market drivers and restraints.
• Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Market Dynamics

Drivers

• Replacement of coal and nuclear driven turbines by gas turbines
• An upsurge in the demand for electricity

Restraints

• The interdependencies between gas and electricity sectors

Opportunities

• Increase in the trend for distributed power generation

Future Trends

• Changing trends in electricity consumption and growth in aviation industry to Favour gas turbine market

Companies Mentioned

• AnsaldoEnergiaS.p.A.
• General Electric Company
• Harbin Electric Company Limited
• Kawasaki Heavy Industries, Ltd
• Man Energy Solutions
• Mitsubishi Hitachi Power Systems, Ltd.
• Siemens AG'
• Solar Turbines Incorporated
• Wrtsil Corporation
• Bharat Heavy Electricals Limited (BHEL)

For more information about this report visit https://www.researchandmarkets.com/r/xja8aq

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Manzanillo International Terminal marks successful deployment of Tideworks’ latest TOS, Mainsail 10

SEATTLE--(BUSINESS WIRE)--Tideworks Technology® Inc. (Tideworks), a full-service provider of comprehensive terminal operating system (TOS) solutions, today announced the go-live of its new marine TOS solution, Mainsail 10 at Manzanillo International Terminal (MIT) in Panama. Tideworks engineered Mainsail 10 to provide terminal operators with increased flexibility and a TOS solution that can seamlessly integrate and scale to adapt to changing operational needs. The go-live at MIT is the company’s first deployment of Mainsail 10.

Mainsail 10 was developed with the evolving global supply chain in mind. The new solution provides rapid access to and management of real-time data to improve decision making and increase the flow of cargo through the terminal, while also reducing costs. The new TOS is highly configurable and customizable – allowing terminal operators to create individualized user experiences and powerful ad-hoc reports that meet their specific needs. Additionally, the solution integrates with back-office accounting and ERP systems among other third-party technologies.

“We are thrilled to introduce our next-generation TOS that will offer a strategic advantage to terminal operators worldwide,” said Thomas Rucker, president of Tideworks. “The successful go-live of Mainsail 10 at MIT is the first deployment of our latest marine TOS and signifies another milestone in our long-term partnership with MIT. Mainsail 10 provides terminal operators with an extremely flexible, world-class TOS platform that enables growth and enhanced efficiencies.”

Throughout the design and development of Mainsail 10, Tideworks worked closely with its terminal operator customers and stakeholders to create a next-generation TOS platform informed by historical industry insight.

“We have had an opportunity to experience Mainsail 10 and found that it is extremely intuitive and responsive,” said Stacy Hatfield, general manager at Manzanillo International Terminal (MIT). “Our team collaborated closely with Tideworks to successfully deploy the platform. We have also begun integrating Mainsail 10 with the variety of third-party tools and technologies in use at MIT to increase efficiency across the terminal.”

Key features and benefits of Mainsail 10 include:

• Highly Configurable User Experience. Administrators can increase the speed of their go-live efforts, ensuring their data conversation is smooth, efficient and successful. The configurable user experience reduces the learning curve for new users and increases efficiency for experienced operators.
• Unprecedented System Command. Mainsail 10 is built to offer operational adaptability from role-based permissions to end-user preferences. Users can customize data fields and search results to streamline terminal operations and avoid bottlenecks.
• Intelligent Third-Party Integration. The new TOS supports necessary third-party integrations including community port systems, scales, OCR, LPR and RFID technologies.
• High Performing. Users can easily update multiple cargo records in a single mass edit saving terminal operators and their customers valuable time and resources.
• Responsive Design. The responsive design keeps terminal operators in control and connected across all teams and Wi-Fi enabled devices.
• Powerful Reporting. Mainsail 10 allows terminal operators to communicate effectively with stakeholders through the platform’s fast, accurate, preconfigured and custom reporting capabilities. Mainsail 10 easily interfaces with a variety of business-critical tools, including Tideworks Insight®.

Leading up to the go-live at MIT, Tideworks provided implementation services including project management, software configuration and installation, integration services, user training and go-live assistance. Tideworks will continue to offer ongoing maintenance and support services, which include 24/7 technical support and software upgrades.

Mainsail 10 went live at MIT in August 2020.

About Tideworks Technology

Tideworks is a full-service provider of comprehensive terminal operating system solutions for growing marine and intermodal terminal operations worldwide. The company helps more than 120 facilities run their operations more efficiently and profitably. From optimized equipment utilization to faster turn times, Tideworks works at every step of terminal operations to maximize productivity and customer service. For more information about Tideworks Technology, a Carrix solution, visit www.tideworks.com.

AnnMarie Henriksson
Communiqué PR for Tideworks Technology
206-282-4923 x119
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• Petroleum Independent and Exploration Corporation to jointly develop the Ft. Trinidad Field with Empire Texas LLC

• Contract Operator, PIE, has identified the first of many workover/recompletion programs to potentially uplift field production

• Technical Services Agreement integrates geology, geoscience, land, engineering, production, and well supervision

• Securities Purchase Agreement for PIE to have the opportunity to own up to 40% of Empire equity and two board seats

TULSA, Okla.--(BUSINESS WIRE)--Empire Petroleum Corporation (“Empire”) (OTCQB:EMPR) announced today that it has completed an equity transaction and a field level debt issuance, fully funding a substantial workover/recompletion program at its recently-acquired properties in East Texas, specifically, the Fort Trinidad Field in Houston and Madison Counties. As a result of the investment, Empire Texas LLC has entered into a joint development agreement with The Woodlands, Texas-based Petroleum Independent & Exploration LLC and PIE Operating LLC and their affiliates (collectively, “PIE”) and Mineral Resource Texas, LLC (“MRP”) to execute of series of workovers designed to potentially increase the field’s production from existing wellbores.

The Securities Purchase Agreement outlines a PIE total investment of approximately $3,375,000 for an equity stake of up to 40% of Empire. In addition, PIE will provide up to a $2,000,000 loan (may be amended to $3,000,000) to Empire Texas LLC for workover development within our current East Texas assets.

The properties contain approximately 91% working interest and 83% net revenue interest and have been recently producing from multiple pays of the Glen Rose, Edwards and Buda formations. PIE, led by Phil Mulacek, will contract operate the field and identified workover wells in the program, bringing their experienced carbonate geology, and geophysical, and drilling team that has been responsible for world class discoveries, such as the Elk and Antelope Fields in Papua New Guinea, subsequently bought by Exxon Mobil and Total in 2017.

“As a significant investor in Empire, combined with the operational expertise and capital to implement an initial robust workover program, we believe PIE is a terrific partner aligning with all shareholders,” stated Mike Morrisett, President. “It has been a pleasure working with Phil Mulacek and his team bringing our Joint Development Agreement quickly to fruition.”

“We’re pleased to have the opportunity to work with Phil and his highly experienced technical team at PIE,” stated Tommy Pritchard, CEO. “The enthusiasm shown while working on planning brought forward other potential acquisitions in close proximity to our strong position in the Fort Trinidad Field that we are currently evaluating.”

About Empire Petroleum Corporation (EMPR)
Empire Petroleum Corporation is a publicly-traded, Tulsa-based oil and gas company with current producing assets in Texas, Louisiana, North Dakota and Montana. Management is focused on targeted acquisitions of proved developed assets with synergies with its existing portfolio of wells. Empire looks for assets where its operational team can deploy rigorous field/well management techniques to reduce unit operating costs and improve margins while optimizing production. For more information, please visit: www.empirepetrocorp.com

About Petroleum Independent & Exploration LLC
Petroleum Independent & Exploration LLC (PIE LLC), is a private Oil and Gas company that began in 1981, with Mr. Phil Mulacek as founder. PIE LLC and MRP LLC have operations across the southern USA. Mr. Mulacek and PIE LLC founded InterOil Corporation in 1994/1995 with the acquisition of a former Chevron refinery. Mr. Mulacek developed InterOil from a US$10 million market cap (~0.50/share) to an integrated Oil & Gas company with a market cap over US$5 billion ($109/share NYSE). The business included a refinery, a downstream business (retail gas stations and distribution), and the world class upstream assets of the Elk, Antelope, and Triceratops structures; certified at over 10 tcfe / ~ 1.5 Billion BOE. The Antelope limestone reef structure is ranked as one of the highest quality gas discoveries in the world, and Antelope #2 well was the highest capacity gas well in the world with a total flow of 755 million scfgepd. Mr. Mulacek is a Petroleum Engineer with over 40 years' experience.

About Mineral Resources Partners, LLC
Mineral Resources Partners, LLC is a privately-owned oil and gas exploration and production company that owns over 550,000 net mineral acres in Texas, Louisiana, Alabama and Georgia. The company acquires, develops and operates unconventional and conventional oil and gas fields, with its core areas being in the Permian Basin (Spraberry Trend/WolfCamp), East Texas (Haynesville, Petit, Woodbine, Cotton Valley and James Lime) and Louisiana (Austin Chalk, Frio, Cockfield and Wilcox). MRP was financed in 2016 by Phil Mulacek, of PIE LLC. For more information, please visit: www.mineralresourcespartners.com

FORWARD-LOOKING STATEMENTS
This press release includes certain statements that may be deemed “forward-looking statements” within the meaning of the federal securities laws. All statements, other than statements of historical facts that address activities, events or developments that Empire expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties. Actual results may vary materially from the forward-looking statements. For a list of certain material risks relating to Empire, see Empire’s Form 10-K for the fiscal year ended December 31, 2019.

Tommy Pritchard, CEO
Mike Morrisett, President
539-444-8002

• Global Clean Energy Holdings to supply renewable diesel from Bakersfield biorefinery
• Renewable diesel can significantly reduce life-cycle greenhouse gas emissions
• Agreement is for the purchase of 2.5 million barrels per year for five years

IRVING, Texas--(BUSINESS WIRE)--ExxonMobil has signed an agreement with Global Clean Energy Holdings to purchase 2.5 million barrels of renewable diesel per year for five years from a converted California refinery starting in 2022.

The renewable diesel will be sourced from a refinery acquired by Global Clean Energy in Bakersfield, California, which is being retooled to produce renewable diesel from Global Clean Energy’s patented varieties of camelina, a fallow land crop that does not displace food crops, and other non-petroleum feedstocks. Following scheduled production startup in 2022, ExxonMobil plans to distribute the renewable diesel within California and potentially to other domestic and international markets.

“Our agreement with Global Clean Energy builds on ExxonMobil’s longstanding efforts to develop and offer products that help meet society’s energy needs while reducing environmental impacts,” said Bryan Milton, president of ExxonMobil Fuels and Lubricants Company. “Chemically similar to petroleum-based diesel, renewable diesel can be readily blended for use in engines on the market today.”

“Our relationship with ExxonMobil is a perfect fit for Global Clean Energy and the Bakersfield biorefinery because it leverages ExxonMobil’s scale and unrivaled market perspective to unlock value for both companies,” said Richard Palmer, CEO of Global Clean Energy Holdings. “By combining upstream feedstock supply and downstream production, we are moving toward the fully integrated production model pioneered by ExxonMobil.”

In addition to camelina, various non-petroleum feedstocks, including used cooking oil, soybean oil, distillers’ corn oil and other renewable sources will be refined to produce the renewable diesel.

Based on analysis of California Air Resources Board (CARB) data, renewable diesel from various non-petroleum feedstocks can provide life-cycle greenhouse gas emissions reductions of approximately 40 percent to 80 percent compared to petroleum-based diesel.¹

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.

Follow us on Twitter and LinkedIn.

About Global Clean Energy

Global Clean Energy Holdings is a leading developer of sustainable, non-food energy crops for use in biofuels. GCEH’s wholly owned subsidiary, Sustainable Oils, is the leading developer of camelina, a fast-growing, low input, dryland farmed rotation crop. As it is cultivated exclusively on unirrigated fallow land, camelina does not displace food or create indirect land use change. It also allows farmers to improve total farm economics through better overall asset utilization.

Through a financing partnership with Orion Energy Partners, GCM Grosvenor and Voya Investment Management, Global Clean Energy expanded into downstream production with the acquisition of the Bakersfield facility. Once production commences in 2022, the Bakersfield biorefinery will be the only integrated farm-to-tank renewable diesel producer of its kind, processing both camelina—a proprietary non-food, ultra-low carbon intensity and purpose-grown feedstock—as well as traditional biofuel feedstocks such as plant oils and waste products. To learn more, visit gceholdings.com.

Cautionary Statement: Statements of future events, plans or product offerings in this release are forward-looking statements. Actual future results, including product offerings, refinery start-up dates, delivery timing. available capacity, and the impact and results of new technologies on product efficiency and life-cycle emission reductions could vary depending on the outcome of general business conditions; further research and testing; the development and competitiveness of alternative technologies; the ability to scale pilot projects on a cost-effective basis; political and regulatory developments; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.

__________________

¹ California Air Resources Board Petroleum Diesel Carbon Intensity: Low Carbon Fuel Standard Regulation, Table 7-1: https://ww2.arb.ca.gov/sites/default/files/2020-07/2020_lcfs_fro_oal-approved_unofficial_06302020.pdf

California Air Resources Board Renewable Diesel Certified Carbon Intensities:
https://ww2.arb.ca.gov/resources/documents/lcfs-pathway-certified-carbon-intensities

ExxonMobil Media Relations
832-625-4000

Global Clean Energy
424-318-3518