OKLAHOMA CITY & BOZEMAN, Mont.--(BUSINESS WIRE)--Ascent Resources – Utica, LLC (“Ascent”) recently announced that nearly all of its natural gas production had achieved the top Grade A certification under the MiQ methane emissions standard. As part of its certification, Ascent has partnered with Bridger Photonics (“Bridger”), a Montana-based company that utilizes aerial methane detecting technology, Gas Mapping LiDAR™, to detect, locate, and quantify methane emissions.
Ascent is one of the largest privately held exploration and production companies in the United States in terms of asset size and net production and is the largest producer of natural gas in the state of Ohio. The company places a strong emphasis on responsible operations, and participated in Cheniere Energy’s quantification, monitoring, reporting, and verification (QMRV) research and development project to more thoroughly understand emissions and detection technologies associated with the upstream natural gas and oil production sector. Ascent also participates in other responsibly sourced gas (RSG) opportunities in addition to certifying its production with MiQ.
Aerial methane detecting technologies like Gas Mapping LiDAR have grown in popularity with operators due to their ability to detect emissions more efficiently than alternative methodologies. After each scan, Bridger provides Ascent with a digital map that includes methane plume imagery, emission size and concentration, and GPS coordinates of every detected emission. “Ascent is committed to providing clean, reliable, and affordable energy that is responsibly sourced. That foundational principle enabled us to achieve multiple top-tier third party certifications and we expect that our work with Bridger will further enhance our existing emissions detection and elimination efforts in a cost-effective way,” said Keith Yankowsky, Chief Operating Officer at Ascent.
“Ascent is focused on its ESG initiatives and taking the steps to meaningfully reduce its emissions. We’re excited to partner with Ascent and provide actionable data that will help them reach their sustainability goals,” stated Bridger’s VP of Operations, Ben Losby. The first scans will begin this week, with the subsequent flights occurring quarterly so that Ascent can ensure it maintains the requirements for MiQ’s gas certification standards.
About Ascent Resources:
Ascent is one of the largest private producers of natural gas in the United States and is focused on acquiring, developing, producing, and operating natural gas and oil properties located in the Utica Shale in eastern Ohio. With a continued focus on good corporate citizenship, Ascent is committed to delivering low-cost clean-burning energy to our country and the world, while reducing environmental impacts. For more information, visit www.ascentresources.com.
About Bridger Photonics, Inc.
Located in Bozeman, Montana, Bridger Photonics provides aerial methane detection, localization, and quantification across the entire natural gas value chain. Bridger’s mission is to enable clean, safe, and streamlined oil and gas operations by providing actionable data for methane emissions reduction. For more information, see www.bridgerphotonics.com.
Tessa Wuertz
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Gen.G and Mobil 1 combine industry expertise in motorsports and esports with innovative partnership
LOS ANGELES--(BUSINESS WIRE)--Global esports organization Gen.G and the world’s leading synthetic motor oil Mobil 1 today announced a joint, first-of-its-kind Rocket League program: Gen.G Mobil 1 Racing. Elevating its existing relationship with Rocket League, Mobil 1 is expanding its partnership with Gen.G to create two Rocket League teams - one men’s and one women’s. In addition to the competitive teams, two Rocket League content creators will join the program to elevate the experience for fans on and off the field.
Rocket League Championship Series and Women’s Carball Championship
The men’s competitive team will compete under "Gen.G Mobil 1 Racing" in the 2022-2023 North American Rocket League Championship Series (NA RLCS), where Mobil 1 has been a sponsor since 2018. Maintaining both organizations’ dedication to gender equity, the women’s competitive team, “Gen.G Mobil 1 Racing Black,” will compete in Season 5 of the Women’s Carball Championship (WCBC).
“We’ve been looking to get into Rocket League since the very start of Gen.G’s entry into North America. But we didn’t want to enter until we could find the right, long-term partner,” said Arnold Hur, CEO of Gen.G. “We are very lucky to have a chance to work with Mobil 1, who genuinely understands the scene and shares a long-term vision with us to build a team from the ground up.”
Gen.G Mobil 1 Racing will be competing in the NA RLCS with the roster of Jack “ApparentlyJack” Benton, Joseph “noly” Kidd, and Nick “Chronic” Iwanski. ApparentlyJack and Noly will be transferring to North America to compete for the 2022-2023 season after competing in the European RLCS, where they had top finishes in the 2021-2022 season. They will be joined by Chronic, a 17-year-old prospect from the United States, as they look to climb their way up the podium.
The Gen.G Mobil 1 Racing Black roster will consist of Kira O., Courtney Johnson, and Isabella "Bella" Williams. Courtney and Bella finished in 3rd place during Season 4 of WCBC, with Courtney earning Regular Season MVP honors. Kira joins the roster following a few months removed from defeating them in last season's WCBC playoffs, where she placed 2nd. Together, the trio will be a force to be reckoned with on the pitch in Season 5.
Combining Industry Expertise
While Mobil 1 has been a fixture on the F1 circuit, NASCAR tracks, and extreme motorsport races, such as the Pikes Peak International Hill Climb for decades, the brand is elevating its approach to celebrating driving by encouraging people to rediscover their love of the sport in new ways.
In the next stage of the brand’s celebration of driving, Mobil 1 is evolving from being an RLCS sponsor to creating its very own team within the league in partnership with Gen.G. As historically fierce competitors in their respective industries, the two brands are combining their expertise to make waves in men’s and women’s competitive Rocket League this year.
“We have a longstanding relationship with Rocket League, which dates back to season 1 of the RLCS,” said Ryan Allen, Brand & Partnerships Manager of North America at ExxonMobil. “As we thought through our future in the competition, we leaned into our heritage in motorsport to become involved in a bigger way, ultimately leading us to collaborating with Gen.G to start two teams – Gen.G Mobil 1 Racing and Gen.G Mobil 1 Racing Black. We have a long history of success in motorsports, and we hope that our teams in Rocket League will be able to add to that legacy.”
Creating Content and Community
Nathan “Stanz” Stanz and Widow are joining Gen.G Mobil 1 Racing as content creators. Previously signed by Gen.G, Stanz will expand his content creation in both esports and motorsports as a member of Gen.G Mobil 1 Racing. Widow is a well-known advocate for women in gaming and the founder of WIRL, a platform dedicated to supporting and highlighting women in the Rocket League community. With Stanz’s dynamic style of variety content and Widow’s commitment to the growth of Rocket League for all, they will cheer on the competitive teams through co-streams, watch parties, content and more. The two will also attend live racing and esports events to meet the Gen.G Mobil 1 Racing community and fans.
Gen.G operates competitive teams across League of Legends, Overwatch League, NBA 2K League, VALORANT and PUBG.
About Gen.G
United under #TigerNation, Gen.G's core mission is to help fans and athletes use the power of gaming and esports to get ahead in and beyond the competition. With an emphasis on education, DEI initiatives, and innovative partnerships, Gen.G is a commercial and thought leader, building a global, inclusive and cross-cultural future for gaming. Its unique portfolio of teams includes the Seoul Dynasty (Overwatch League), League of Legends Champions Korea (LCK), the Gen.G & Gen.G Black VALORANT teams, the PUBG Gen.G team, and the NBA2K’s Gen.G Tigers (the first non-NBA owned team in the NBA 2K League). Gen.G has also been a major proponent in seamlessly bringing in non-endemic brand partners to the world of gaming and esports, including 1Password, Burberry, Crocs, King’s Hawaiian, McDonald’s, Mobil 1, Procter & Gamble, Toyota, and more. Gen.G also operates the Elite Esports Academy, the world's first fully-integrated academic esports program in Korea. Gen.G's teams, content creators and corporate staff work out of their offices in Los Angeles, Seoul and Shanghai. For more information, visit GenG.gg or follow on Twitter @GenG.
About Mobil 1
Mobil 1, the world’s leading synthetic motor oil brand, is a brand that has been trusted for more vehicle miles than any one of us sees in our lifetime. Designed to empower our love of driving, Mobil 1 advanced synthetic motor oil features anti-wear technology that provides performance beyond our conventional motor oils – that means more time behind the wheel than under the hood. This technology allows Mobil 1 advanced synthetic motor oil to meet or exceed the toughest standards of vehicle manufacturers and tuning shops, all while providing exceptional protection against engine wear, under normal or even some of the most extreme conditions. Not that you’d ever put your car through any extremes. Join us. For the love of driving.
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Move signals the company’s commitment to significantly scale its software solutions that enable power providers to help their customers reduce their bills and transition to a more sustainable future
BOULDER, Colo.--(BUSINESS WIRE)--Uplight, the technology partner of energy providers transitioning to the clean energy ecosystem, today announced the appointment of Luis D’Acosta as CEO.
D’Acosta joins the company from Schneider Electric, where he was global head of the Digital Energy business, working to accelerate the digitization of power networks by building and implementing new technology solutions.
A recognized leader across the energy ecosystem, D’Acosta brings vast global experience running software businesses, scaling startups, and leading growth and customer engagement initiatives. He has worked on all sides of the utility industry and brings deep technical expertise, high-level relationships, and a proven track record in scaling multi-billion-dollar software companies in the energy space.
“As decarbonization efforts continue to accelerate and energy companies look to deliver new solutions to their customers that provide efficient, affordable, and sustainable energy, Uplight is positioned to be the go-to provider of these innovative solutions,” said D’Acosta. “I’m excited to join Uplight at such a dynamic time for our industry and look forward to helping the company scale, deliver new products, and ensure our clients can deliver a more sustainable and connected world.”
Uplight currently serves more than 80 electric and gas utilities, representing 110 million energy customers, with the industry’s only comprehensive customer-centric technology suite. Using data-driven insights to personalize and simplify the customer experience, Uplight solutions help utilities to accelerate decarbonization. Solutions focus on balancing demand on the grid through changing customer behavior, orchestrating grid-connected devices that keep customers’ bills low and adjust in real-time to changing grid conditions, and speeding customer adoption of solutions that contribute to the clean energy transformation.
D’Acosta takes over for Uplight founder and CEO Adrian Tuck, who led the formation of the business out of six companies and helped grow it into an end-to-end SaaS solution.
“I’ve known Luis for many years and believe he is uniquely qualified to lead Uplight into its next phase and capitalize on all the positive trends impacting the energy transition,” said Tuck. “He knows our business. He knows our clients. And he will provide a new type of leadership for this organization. It’s been an honor to work with such a dedicated group of people who know that the work they do is helping drive towards a more sustainable future.”
D’Acosta begins his new role on October 1. Tuck remains the largest individual shareholder in Uplight, and will continue to support the transition and help the company in an advisory capacity.
About Uplight
Uplight is the technology partner for energy providers and the clean energy ecosystem. Uplight’s software solutions connect energy customers to the decarbonization goals of power providers while helping customers save energy and lower costs, creating a more sustainable future for all. Using the industry’s only comprehensive customer-centric technology suite and critical energy expertise across disciplines, Uplight is streaming the complex transition to the clean energy ecosystem for more than 80 electric and gas utilities around the world. By empowering energy providers to achieve critical outcomes through data-driven customer experiences, delivering control at the grid edge, creating new revenue streams and optimizing existing load and assets, Uplight shares a mission with clients to make energy more sustainable for every community. Uplight is a certified B Corporation. To learn more, visit us at www.uplight.com, find us on Twitter @Uplight or on LinkedIn at Linkedin.com/company/uplightenergy.
Jillian Young
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MONTRÉAL--(BUSINESS WIRE)--Xebec Adsorption Inc. (TSX: XBC) (“Xebec” or the “Corporation”), a global provider of sustainable gas solutions, announced today that the Superior Court of Québec (the “Court”) has granted the Corporation’s application for an initial order (the “Initial Order”) under the Companies’ Creditors Arrangement Act (the “CCAA”). Xebec intends to seek recognition of the Initial Order and the SISP Order (as defined below) in the United States under Chapter 15 of the Bankruptcy Code.
Pursuant to the Initial Order, the Corporation and its Canadian and U.S. wholly owned subsidiaries have obtained protection under the CCAA and Deloitte Restructuring Inc. has been appointed as monitor (the “Monitor”) and will assist Xebec in its restructuring efforts.
The Court has also issued an order (the “SISP Order”) authorizing the Corporation to conduct a sale and investment solicitation process (the “SISP”) with the assistance of National Bank Financial Inc. (“NBF”), as financial advisor, and the Monitor, in accordance with the terms therein (the “Bidding Procedures”). The SISP is intended to solicit interest in, and opportunities for, a sale of, or investment in, all or part of the assets and business segments of the Corporation and its subsidiaries, with the goal of maximizing value for the Corporation and its stakeholders.
In order to participate in the SISP and obtain a copy of the confidential information memorandum and access to a virtual data room, all interested parties must comply with the terms and conditions set forth in the Bidding Procedures, a copy of which is available on the Monitor’s website at https://www.insolvencies.deloitte.ca/Xebec. Parties interested in participating in the SISP should contact NBF at This email address is being protected from spambots. You need JavaScript enabled to view it. or the Monitor at This email address is being protected from spambots. You need JavaScript enabled to view it..
The deadline for submission of non-binding letters of intent is 5:00 p.m. (Eastern Time) on November 11, 2022 and the deadline for submission of binding bids is 5:00 p.m. (Eastern Time) on January 6, 2023.
Earlier today, the Toronto Stock Exchange (“TSX”) suspended trading of Xebec’s common shares and the TSX has put the Corporation under delisting review under its expedited review process. The TSX has advised the Corporation that a meeting has been scheduled for October 12, 2022 to consider whether or not to delist the securities of the Corporation.
Xebec will provide further updates as developments warrant. A copy of the Initial Order and other information regarding the CCAA proceedings will be available on the Monitor’s website at https://www.insolvencies.deloitte.ca/Xebec. Information regarding CCAA proceedings can also be obtained by calling the Monitor’s hotline at 514-393-6722 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
Xebec’s legal advisors in connection with the CCAA and Chapter 15 proceedings and SISP are Osler, Hoskin & Harcourt LLP and McDonald Hopkins LLC. The Corporation’s financial advisor is National Bank Financial Inc.
About Xebec Adsorption Inc.
Xebec is a global provider of clean energy solutions for renewable and low carbon gases used in energy, mobility and industrial applications. The company specializes in deploying a portfolio of proprietary technologies for the distributed production of hydrogen, renewable natural gas, oxygen and nitrogen. By focusing on environmentally responsible gas generation, Xebec has helped thousands of customers around the world reduce their carbon footprints and operating costs. Headquartered in Québec, Canada, Xebec has a worldwide presence with nine manufacturing facilities, seventeen Cleantech Service Centers and four sales offices spanning over four continents. For more information, xebecinc.com.
Cautionary Statement
All statements, other than statements of historical fact, contained in this press release constitute “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements typically contain words such as “believes”, “expects”, “anticipates”, “continues”, “could”, “indicates”, “plans”, “will”, “intends”, “may”, “projects”, “schedules”, “would” or similar expressions suggesting future outcomes or events, although not all forward-looking statements contain these identifying words.
Forward-looking statements contained in this press release include, without limitation, those related to (i) the CCAA proceedings and the operations of the Corporation, (ii) the Corporation’s ability to maximize value for the Corporation and its stakeholders, and (iii) the review by the TSX regarding the suitability of the Corporation for listing on the TSX.
These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties that may cause Xebec’s actual results, level of activity or performance to be materially different from any future results, levels of activity or performance expressed in or implied by these forward-looking statements, including the ability for the Corporation to obtain financing during and following the CCAA process, general economic conditions and other risks other factors which are discussed in greater details in the Corporation’s Management’s Discussion and Analysis for the period ended June 30, 2022, the Corporation’s Annual Information Form as well as other filings made by the Corporation which are available under the Corporation’s profile on SEDAR at www.sedar.com. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. In addition, there is no assurance that there will be any residual value for shareholders under the CCAA process.
If these assumptions prove to be inaccurate, Xebec’s actual results may differ materially from those expressed or implied in the forward-looking statements. In addition, there can be no assurance that the CCAA proceedings will result in the maximization of the return in respect of the Corporation’s assets and those of its subsidiaries.
The forward-looking statements contained herein are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Except to the extent required by law, Xebec undertakes no obligation to publicly update or revise any forward-looking statements contained herein. Readers should not place undue reliance on forward-looking statements.
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Xebec Adsorption Inc.
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CINCINNATI--(BUSINESS WIRE)--Fifth Third Bank, National Association, a recognized leader in environmental sustainability, announced that it is partnering with the Cincinnati USA Regional Chamber and Duke Energy to measure the carbon impact and provide the verified carbon offsets for the lighting installations at BLINK, Illuminated by ArtsWave, in Cincinnati. The event is one of the nation’s largest outdoor light and art festivals known for its immersive exhibits and experiences and will return to Cincinnati Oct. 13-16, 2022.
Cincinnati-based Fifth Third has been focused on reducing its environmental footprint for over a decade and became carbon neutral for its own operations in 2020. The Bank has been an active participant in BLINK since 2019. For its own BLINK installation, Fifth Third will retire renewable energy certificates (RECs) from the Bank’s virtual power purchase agreement with an 80MW solar project, which came online in 2019. For other lighting installations, Fifth Third will provide verified carbon offsets through a registered emission removal project for an Ohio-based company, which has been verified by a third-party.
“Our purpose-driven culture and commitment to transition to a sustainable future is reflected in our involvement with BLINK,” said Tim Spence, president and CEO Fifth Third Bank. “It is a privilege to be able to put our expertise and resources toward making BLINK carbon neutral and to transforming our front porch on Cincinnati’s iconic Fountain Square into an immersive and interactive art display that demonstrates our commitment to sustainability and celebrates our headquarters city.”
At BLINK, the Bank is using Fountain Square as its stage for an experience called ElectriFi. The main attraction is “The ARRAY,” a massive installation offering an abstract, mixed media depiction of a solar powered ecosystem, which drew inspiration from Fifth Third’s commitment to 100% renewable power and its bold operational sustainability goals to be achieved through 2030. All offsets related to BLINK are third-party validated and retired in accordance with industry best practices.
The Bank is working with Duke Energy to understand BLINK’s 2019 energy footprint on which it will base its initial offsets. Duke Energy is also looking to measure the actual footprint in 2022 to allow Fifth Third to true-up the offsets post-event. Duke Energy is a recognized authority on energy and a trusted partner for the Bank in devising the approach to carbon neutrality for the BLINK installations.
“Duke Energy has been a long-standing supporter of BLINK, and we are pleased to be a part of this important effort to offset the carbon emissions from energy use during the festival. Our partnership with Fifth Third highlights the strides Cincinnati is making toward a sustainable future,” said Amy Spiller, president, Duke Energy Ohio and Kentucky.
Justin Brookhart, executive director of BLINK, applauds this collaboration and push toward sustainability.
“BLINK and the Cincinnati USA Regional Chamber are proud to announce that the nation’s biggest immersive art event is now a more sustainable event,” Brookhart said. “BLINK is known for its incredible collaborations with artists and creatives from here in the Cincinnati region and all over the globe. This is a new type of collaboration for us, and we thank our friends at Fifth Third Bank and Duke Energy.”
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of June 30, 2022, the Company had $207 billion in assets and operates 1,080 full-service Banking Centers, and 2,153 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 56,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2022, had $512 billion in assets under care, of which it managed $54 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB."
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy, provides electric service to 880,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to 550,000 customers in a 2,650-square-mile service area, in Ohio and Kentucky.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.
Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business and at least a 50% carbon reduction from electric generation by 2030 and net-zero carbon emissions by 2050. The 2050 net-zero goals also include Scope 2 and certain Scope 3 emissions. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.
Duke Energy was named to Fortune’s 2022 “World’s Most Admired Companies” list and Forbes’ “America’s Best Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About BLINK
Last experienced by over 1.3M people in 2019, BLINK, Illuminated by ArtsWave, welcomes all to Cincinnati, Ohio October 13-16, 2022. The four-day, 30 city block, outdoor art experience is sure to be unforgettable, uniting street art, projection mapping and light-based installations.
Not only does the event speak to the dynamic evolution of the Cincinnati art community, it calls upon the city’s deep roots in supporting the arts. BLINK is illuminated by ArtsWave, the first and largest community campaign in the nation and the primary way that Cincinnati funds its arts. When tens of thousands of people and hundreds of companies give to ArtsWave, they support 150 cultural organizations and projects each year like BLINK that make our region vibrant. Donations to BLINK and other arts projects and organizations can be made at artswave.org/give.
BLINK is produced and curated by its Executive Partners - the Cincinnati USA Regional Chamber, AGAR, and the Haile Foundation, and produced in conjunction with its Partners ArtWorks, Cincy Nice, and ish - to provide opportunities for regional artists and bring in global creators all in the pursuit of a stronger community.
Stacie Haas (Media Relations)
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Mike Faillo (Sustainability)
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SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today announced that its subsidiary, Chevron U.S.A. Inc. (Singapore Branch) (Chevron), has safely delivered its first shipment of offset-paired liquefied natural gas (LNG) cargo.
Greenhouse gas emissions for the cargo, from the Gorgon Project off the northwest coast of Western Australia, will be fully offset via the retirement of high-quality nature-based and energy efficiency offsets in Cambodia, Indonesia and Nepal.
“Chevron’s first full lifecycle emissions offset cargo advances our net zero ambitions and represents a significant milestone in Chevron’s relationship with CPC Corporation, Taiwan,” said John Kuehn, President of Chevron Supply and Trading, a division of Chevron U.S.A. Inc.
“We share the view that the future of energy is lower carbon and expect this offset-paired cargo to be the first of many as we leverage our capabilities, assets, and customer relationships to deliver energy solutions to a growing world.”
For this cargo, Chevron’s Scope 1 and 2 emissions (emissions from upstream production, transportation, liquefaction and shipping) were calculated based on methodology jointly developed by Chevron, Pavilion Energy Trading & Supply Pte. Ltd. and QatarEnergy in 2021, with Scope 3 emissions calculated based on PACE Global report1 for regas and distribution and IPCC 2006 emission factor2 for combustion.
The emissions will be fully offset via the surrender of Verra3 certified offsets, namely the Katingan Peatland Restoration and Conservation Project in Indonesia, the Southern Cardamom REDD+ Project in Cambodia and the Energy Efficient Cooking Solution in Nepal.
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and growing lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
About CPC Corporation, Taiwan
CPC was founded on June 1, 1946 with a mandate to lead the country’s energy sector. For the more than 70 years since then, we have fulfilled that commitment by taking on responsibility for the development of national energy resources. We have consistently ensured a stable supply of petroleum product despite recurring oil crises, liberalization of the domestic market and fluctuations in produces prices. While tackling these challenges, we have not wavered in making our just contribution to Taiwan’s economic progress and its citizens’ welfare. More information about CPC is available at www.cpc.com.tw.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 25 of the company’s 2021 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
1 “LNG and Coal Life Cycle Assessment of GHG Emissions” by PACE Global (Oct 2015) for Regas/Distribution.
2 IPCC 2006 Taiwan Gov Model for Combustion.
3 Verra is a nonprofit organization that operates the world’s leading carbon crediting program, the Verified Carbon Standard (VCS) Program, as well as other programs in environmental and social markets
Cameron Van Ast
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Throughput volumes for the 2022 third quarter expected to be approximately 68,000 – 69,000 bpd
External operational disruptions prevented contracted supplier from meeting supply mandate of water-borne crude oil
Company proactively accelerated completion of facility maintenance ahead of anticipated fourth quarter heating oil demand increase
HOUSTON--(BUSINESS WIRE)--Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty refiner and marketer of high-quality refined products, today provided an update to its operational and financial outlook for the Company's Mobile, Alabama Refinery.
Throughput volumes for the third quarter of 2022 are now estimated to be approximately 68,000 – 69,000 barrels per day (bpd). The reduced estimated throughput volumes for the quarter, versus the Company's previously communicated guidance, reflect management's decision to accelerate significant planned maintenance following recent and temporary crude supply issues. These supply issues resulted from third-party disruptions, impacting Vertex's supplier's ability to fulfill its contracted supply mandate for water-borne crude oil (which have since been resolved). Including the impact of these updates, operating expense per barrel for the third quarter of 2022 is estimated to be approximately $4.25 - $4.50 per barrel, capture rate on the benchmark Gulf Coast 2-1-1 crack spread is anticipated to remain at 50%-54%, and total capital expenditures are estimated to remain at $30 - $35 million, for the third quarter of 2022, as previously communicated.
Updated Projected Outlook(1)
Prior Outlook Range |
Updated Outlook Range |
|
|
(as of 8/9/22) |
(as of 9/29/22) |
Mobile Refinery Throughput Volume (bpd) |
72,000 - 74,000 |
68,000 - 69,000 |
Direct Operating Expense ($/barrel) |
$3.50 - $3.75 |
$4.25 - $4.50 |
Capture Rate (%)* |
50% - 54% |
No Change |
Capex ($/MM) |
$30 - $35 |
No Change |
*Capture rate relates to benchmark Gulf Coast 2-1-1 Crack Spread. |
||
(1) See “Preliminary Results and Estimates” below. |
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In response to the reduced access to contracted crude supply volumes, the Company proactively accelerated and completed maintenance on one of its crude oil distillation units (CDU), as well as a catalyst change on its distillate and reformer units, a significant future planned turnaround event, typically performed every four years, which had been planned for the first quarter of 2023. The opportunistic acceleration of maintenance on the facility makes use of this unplanned period of curtailment in throughput volumes by eliminating the need for an additional future period of downtime necessary to perform such operations. This decision, along with other minor facility maintenance operations completed during the period, helps to ensure optimal facility performance and enhance yields and maximum refinery throughput capacity, ahead of the anticipated heating oil demand season, together with projected robust product economics for the fourth quarter of 2022 and first quarter 2023, based on past years demand.
All aforementioned third-party supply issues have since been resolved, and all maintenance was completed safely, on time, and within budget. The Company expects to return to the refinery's stated operational capacity by the first week of October.
"The unanticipated disruption to our contractually mandated supply of crude oil, while negatively affecting third quarter throughput volumes, has once again proved our team's ability to respond to adverse events in a way that maximizes operational flexibility and economic value," stated Benjamin P. Cowart, President and CEO of Vertex, who continued, "By seizing the opportunity to accelerate significant maintenance on the facility, we believe we have further improved our position to fully capitalize on the continued strength in product margins throughout the typically seasonally strong fourth quarter, as our hedge position rolls off."
No Expected Impact from Hurricane Ian
Hurricane Ian made U.S. landfall as a Category 4 hurricane on Wednesday, September 28, 2022. At this time, throughput volumes and operations at the Mobile, Alabama refinery have not been impacted by the storm, nor does management anticipate any material future direct impact associated with this storm.
ABOUT VERTEX ENERGY
Houston-based Vertex Energy, Inc. (NASDAQ: VTNR), is an energy transition company focused on the production and distribution of conventional and alternative fuels. Vertex owns a refinery in Mobile (AL) with an operable refining capacity of 75,000 barrels per day and more than 3.2 million barrels of product storage, positioning it as a leading supplier of fuels in the region. Vertex is also one of the largest processors of used motor oil in the U.S., with operations located in Houston and Port Arthur (TX), Marrero (LA), and Columbus (OH). Vertex also owns a facility, Myrtle Grove, located on a 41-acre industrial complex along the Gulf Coast in Belle Chasse, LA, with existing hydroprocessing and plant infrastructure assets, that include nine million gallons of storage. The Company has built a reputation as a key supplier of base oils to the lubricant manufacturing industry throughout North America.
FORWARD-LOOKING STATEMENTS
Certain of the matters discussed in this communication which are not statements of historical fact constitute forward-looking statements within the meaning of the securities laws, including the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. Words such as "strategy," "expects," "continues," "plans," "anticipates," "believes," "would," "will," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. The important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation, the Company’s projected Outlook for the third quarter of 2022, as discussed above; the Company’s ability to raise sufficient capital to complete future capital projects and the terms of such funding, to the extent necessary; the estimates of impact of recent events on third and fourth quarter operating results; the timing of planned capital projects at the Mobile Refinery and the outcome thereof; the future production of the Mobile Refinery; the estimated timeline of the renewable diesel capital project, estimated and actual production associated therewith, estimated revenues over the course of the agreement with Idemitsu, anticipated and unforeseen events which could reduce future production at the refinery or delay planned capital projects, changes in commodity and credits values, and certain early termination rights associated with the Idemitsu agreement and conditions precedent to such agreement; certain mandatory redemption provisions of the outstanding senior convertible notes, the conversion rights associated therewith, and dilution caused by such conversions; the Company’s ability to comply with required covenants under outstanding senior notes and a term loan and pay amounts due under such senior notes and term loan, including interest and other amounts due thereunder; the ability of the Company to retain and hire key personnel; risks associated with the ability of Vertex to complete current plans for expansion and growth, and planned capital projects; the level of competition in our industry and our ability to compete; our ability to respond to changes in our industry; the loss of key personnel or failure to attract, integrate and retain additional personnel; our ability to protect our intellectual property and not infringe on others’ intellectual property; our ability to scale our business; our ability to maintain supplier relationships and obtain adequate supplies of feedstocks; our ability to obtain and retain customers; our ability to produce our products at competitive rates; our ability to execute our business strategy in a very competitive environment; trends in, and the market for, the price of oil and gas and alternative energy sources; the volatile nature of the prices for oil and gas caused by supply and demand, including volatility caused by the ongoing Ukraine/Russia conflict; our ability to maintain our relationships with our partners; the impact of competitive services and products; the outcome of pending and potential future litigation, judgments and settlements; rules and regulations making our operations more costly or restrictive; changes in environmental and other laws and regulations and risks associated with such laws and regulations; economic downturns both in the United States and globally, increases in inflation and interest rates, increased costs of borrowing associated therewith and potential declines in the availability of such funding; risk of increased regulation of our operations and products; disruptions in the infrastructure that we and our partners rely on; interruptions at our facilities; unexpected and expected changes in our anticipated capital expenditures resulting from unforeseen or planned required maintenance, repairs, or upgrades; our ability to acquire and construct new facilities; our ability to effectively manage our growth; decreases in global demand for, and the price of, oil, due to COVID-19, state, federal and foreign responses thereto, inflation, recessions or other reasons, including declines in economic activity or global conflicts; our ability to acquire sufficient amounts of used oil feedstock through our collection routes, to produce finished products, and in the absence of such internally collected feedstocks, and our ability to acquire third-party feedstocks on commercially reasonable terms; unexpected downtime at our facilities; risks associated with COVID-19, the global efforts to stop the spread of COVID-19, potential downturns in the U.S. and global economies due to COVID-19 and the efforts to stop the spread of the virus, and COVID-19 in general; anti-dilutive rights associated with our outstanding securities; our level of indebtedness, which could affect our ability to fulfill our obligations, impede the implementation of our strategy, and expose us to interest rate risk; dependence on third party transportation services and pipelines; risks related to obtaining required crude oil supplies, and the costs of such supplies; counterparty credit and performance risk; unanticipated problems at, or downtime effecting, our facilities and those operated by third parties; risks relating to our hedging activities; and risks relating to planned divestitures and acquisitions. Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the Company's publicly filed reports, including, but not limited to, the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 and future Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. These reports are available at www.sec.gov. The Company cautions that the foregoing list of important factors is not complete. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on Vertex's future results. The forward-looking statements included in this press release are made only as of the date hereof. Vertex cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Vertex undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by Vertex. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
PRELIMINARY RESULTS AND ESTIMATES
The unaudited information presented in this press release is based on preliminary results and management's estimates and is inherently uncertain and subject to revision in connection with the Company's financial closing procedures and finalization of the Company's financial statements for its third quarter of 2022. Actual results for the fiscal third quarter of 2022 may differ materially from these preliminary results.
PROJECTIONS
The financial and other projections (the "Projections") included herein were prepared by Vertex in good faith using assumptions believed to be reasonable. A significant number of assumptions about the operations of the business of Vertex were based, in part, on economic, competitive, and general business conditions prevailing at the time the Projections were developed. Any future changes in these conditions, may materially impact the ability of Vertex to achieve the financial results set forth in the Projections. The Projections are based on numerous assumptions, including realization of the operating strategy of Vertex; industry performance; no material adverse changes in applicable legislation or regulations, or the administration thereof, or generally accepted accounting principles; general business and economic conditions; competition; retention of key management and other key employees; absence of material contingent or unliquidated litigation, indemnity, or other claims; minimal changes in current pricing; static material and equipment pricing; no significant increases in interest rates or inflation; and other matters, many of which will be beyond the control of Vertex, and some or all of which may not materialize. Although the Projections are presented with numerical specificity and are based on reasonable expectations developed by Vertex's management, the assumptions and estimates underlying the Projections are subject to significant business, economic, and competitive uncertainties and contingencies, many of which will be beyond the control of Vertex. Accordingly, the Projections are only estimates and are necessarily speculative in nature. It is expected that some or all of the assumptions in the Projections will not be realized and that actual results will vary from the Projections. Such variations may be material and may increase over time. In light of the foregoing, readers are cautioned not to place undue reliance on the Projections. The projected financial information contained herein should not be regarded as a representation or warranty by Vertex, its management, advisors, or any other person that the Projections can or will be achieved. Vertex cautions that the Projections are speculative in nature and based upon subjective decisions and assumptions. As a result, the Projections should not be relied on as necessarily predictive of actual future events.
John Ragozzino Jr., CFA (ICR)
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The similarity analysis function will enable Tenchijin COMPASS users to search for optimal business locations by comparing location characteristics such as temperature and rainfall
TOKYO--(BUSINESS WIRE)--Tenchijin COMPASS is a web-based land evaluation application which analyzes characteristics and risks of various locations by using satellite data and AI. It supports its users by searching for optimal business locations in industries such as agriculture, urban development, infrastructure management, energy, and carbon credit.
Tenchijin COMPASS is regularly upgraded by adding new functionalities. Tenchijin COMPASS users can use the similarity analysis function to compare any two locations in the world by analyzing their characteristics such as land surface temperature and rainfall data. The users can search for optimal locations to cultivate specific crops, install renewable energy facilities, find comfortable places to live, and much more.
Tenchijin COMPASS users can calculate the degree of similarity between two specific locations. The users can select the criteria to calculate the degree of similarity such as its comparison period, day/night land surface temperature, and precipitation. To ensure higher accuracy, Tenchijin COMPASS users are recommended to specify a comparison period of at least a year long.
Usage example:
Tenchijin COMPASS can be used for free by creating an account on the Tenchijin website.
The similarity analysis function is beta version. It is also possible to customize the similarity index according to the needs of customers.
If you are interested in customizing Tenchijin COMPASS or consulting on data analysis, please contact us at This email address is being protected from spambots. You need JavaScript enabled to view it.
Access here for the details: https://tenchijin.co.jp/?hl=en
Tenchijin, Inc.
Yasuhito Sakuraba
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) will issue its third quarter 2022 earnings release after the close of the New York Stock Exchange on Wednesday, October 26, 2022. The Company will also host its third quarter 2022 earnings conference call on Thursday, October 27, 2022, at 1 p.m. London time (8 a.m. New York time).
The event will be webcast live and can be accessed through the TechnipFMC website (investors.technipfmc.com) or at https://edge.media-server.com/mmc/p/zcgbnfxb.
An archived version will be available on the website following the webcast.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC utilizes its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
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Media relations
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LOS ANGELES--(BUSINESS WIRE)--#EVs--Fisker Inc. (NYSE: FSR) ("Fisker") – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – is achieving manufacturing milestones as 95 prototype Fisker Oceans have already rolled off partner Magna Steyr's production system. Fisker will use the early-run vehicles to train service workers, conduct rigorous testing, and showcase the five-passenger, all-electric SUV across nine launch markets.
"It's fantastic to see the quality of the Fisker Oceans currently being manufactured, and to also see them incrementally improving on every visit," Chairman and CEO Henrik Fisker said. "It's rewarding to observe the continuous improvements to manufacturing speed on the assembly line. Our marketing and service teams are thrilled to get their hands on cars before the official production starts so they can thoroughly prepare for deliveries and promote the Fisker Ocean in our launch markets. This phase of assembly marks the onset of improvement and refinement for start of production and through ramp-up."
Fisker continues developing its retail network, constructing Fisker Lounges in Los Angeles and Munich and Fisker Center+ locations in Copenhagen and Vienna, with plans for additional Lounges and Center+ spots in other key cities. In addition, the company's industry-leading warranty will be supported by service centers throughout its nine launch markets, offering at-home vehicle pick-up or Fisker Mobile Service for customers who prefer skilled technicians to come to them.
The Fisker Ocean, the ground-breaking five-passenger all-electric SUV, is available in four trim levels: One (limited edition), Extreme, Ultra, and Sport. The top trims of Fisker Ocean One and Fisker Ocean Extreme travel 350 miles (U.S.) 1 on a single charge, with dual-motor, all-wheel-drive, three driving modes, Revolve 17.1" rotating screen, SolarSky roof, California Mode, Smart Traction, all for $68,9992 in the U.S. As of today's release, Fisker has over 60,000 reservations and orders for the Fisker Ocean, including 5,000 sold out Fisker Ocean Ones, each secured by a $5,0003 deposit.
Fisker is on target for a start of production on November 17, 2022. Prior to SOP, Fisker will bring the Fisker Ocean to the Paris International Motor Show (Mondial de l'Auto) from October 17-23, 2022, and the Oslo Motor Show from October 28-30, 2022.
About Fisker Inc.
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube, and LinkedIn.
Download the revolutionary new Fisker mobile app from the App Store or Google Play store.
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel," "believes," expects," "estimates," "projects," "intends," "should," "is to be," or the negative of such terms, or other comparable terminology and include, among other things, the quotation of our CEO, the statements regarding the planned launch timing, pricing and estimated range of the Fisker Ocean, the anticipated timing of deliveries of the Fisker Ocean, the Company's future performance and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: Fisker's limited operating history; Fisker's ability to enter into additional manufacturing and other contracts with Magna or tier-one suppliers in order to execute on its business plan; the risk that OEM and supply partners do not meet agreed upon timelines or experience capacity constraints; Fisker may experience significant delays in the design, manufacture, regulatory approval, launch and financing of its vehicles; Fisker's ability to execute its business model, including market acceptance of its planned products and services; Fisker's inability to retain key personnel and to hire additional personnel; competition in the electric vehicle market; Fisker's inability to develop a sales distribution network; and the ability to protect its intellectual property rights; and those factors discussed in Fisker's Annual Report on Form 10-K, under the heading "Risk Factors," filed with the Securities and Exchange Commission (the "SEC"), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Fisker files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Fisker undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
1 Based on Fisker simulations utilizing EPA standards. Actual results vary with conditions such as external environment, wheel size and diameter, and vehicle use. Official EPA and WLTP ratings forthcoming.
2 Pricing shown is for the continental U.S. and excludes delivery, finance, and government charges. Maintenance is not included. Pricing depends upon specifications and options chosen by customers as they configure the actual vehicle closer to production. Pricing does not include various state and federal incentives and benefits which may be available.
3 Or local currency equivalent.
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Director, Communications
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Investor Relations:
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EL DORADO, Ark.--(BUSINESS WIRE)--Murphy USA Inc. (NYSE: MUSA) will release preliminary third quarter 2022 earnings results after the market close on Wednesday, October 26, 2022, followed by a conference call at 10:00 a.m. CT on Thursday, October 27, 2022. Interested parties may participate by dialing 1-888-330-2384 and referencing conference ID number 6680883. The call can also be accessed via webcast through the Investor Relations section of Murphy USA’s website at http://ir.corporate.murphyusa.com. The webcast will be available for replay one hour after the conference concludes and a transcript will be made available shortly thereafter.
About Murphy USA
Murphy USA (NYSE: MUSA) is a leading retailer of gasoline and convenience merchandise with more than 1,650 stores located primarily in the Southwest, Southeast, Midwest and Northeast United States. The company and its team of nearly 15,000 employees serve an estimated two million customers each day through its network of retail gasoline and convenience stores in 27 states. The majority of Murphy USA's stores are located in close proximity to Walmart Supercenters. The company also markets gasoline and other products at standalone stores under the Murphy Express and QuickChek brands. Murphy USA ranks 240 among Fortune 500 companies.
Investor Contact:
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Mitchell Freer – Senior Investor Relations Analyst
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CYPRESS, Calif.--(BUSINESS WIRE)--Romeo Power, Inc. (“Romeo”) (NYSE: RMO), an energy storage technology company focused on designing and manufacturing lithium ion battery products and packs for vehicle electrification, today issued the following letter to Romeo stockholders reminding them to tender their shares into the exchange offer (the “Offer”) by Nikola Corporation (NASDAQ: NKLA) (“Nikola”) to purchase all outstanding shares of common stock of Romeo by midnight, Eastern Time, at the end of the day Wednesday, October 12, 2022.
The full text of the letter follows:
IMPORTANT INFORMATION: Romeo Power Stockholders are Reminded to Tender Shares for Nikola Transaction Before October 12, 2022 Deadline
Dear Romeo Stockholders,
On August 1, 2022, Nikola Corporation (Nasdaq: NKLA) (“Nikola”) and Romeo Power, Inc. (NYSE: RMO) (“Romeo”) announced a definitive agreement for an all-stock transaction.
More recently, on September 27, 2022, Nikola announced it had extended its exchange offer (the “Offer”) to purchase all outstanding shares of common stock of Romeo until midnight, Eastern time, at the end of October 12, 2022.
I am reaching out to remind you to tender your shares prior to midnight, Eastern time, at the end of October 12, 2022. If less than a majority of the outstanding shares of Romeo common stock are tendered, the Offer cannot be completed by Nikola and no shares will be exchanged. Specifically, more than 50% of outstanding Romeo common stock must be validly tendered for the Offer to be completed, or approximately 93.00 million shares.
As of midnight, Eastern Time, on September 26, 2022, approximately 70.03 million shares of Romeo common stock had been validly tendered and received, and not validly withdrawn, pursuant to the Offer, representing approximately 37.65% of outstanding shares of Romeo common stock. For the Offer to be completed, an additional 22.97 million shares must be validly tendered.
The Romeo Board unanimously recommends that Romeo stockholders tender their shares pursuant to the Offer.
If a sufficient number of shares are not tendered and the Offer cannot be completed by Nikola, your investment may be subject to substantial risks outlined below.
What Happens If Stockholders Don’t Tender Their Shares:
How to Tender Your Shares:
Contact information for commonly used brokers:
If you were unable to previously tender your shares due to process deadlines from your broker, you may tender your shares during the extension period. Please act as soon as possible to ensure you can tender your shares on time. Romeo stockholders who have previously tendered their shares do not need to re-tender their shares or take any other action as a result of the extension of the Offer.
On behalf of our entire team and the Board of Directors, thank you for your continued support of Romeo.
Sincerely,
Robert Mancini
Chairman of the Board
About Romeo Power, Inc.
Founded in 2016 and headquartered in Cypress, California, Romeo (NYSE: RMO) is an energy storage technology company focused on designing and manufacturing lithium ion battery products and packs for vehicle electrification. Romeo’s suite of advanced battery electric products, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. To keep up with everything Romeo, follow Romeo on social media, @romeopowerinc or visit romeopower.com.
Additional Information and Where to Find It
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares. On August 29, 2022, Nikola Corporation (“Nikola”) filed a Registration Statement on Form S-4 (including a Prospectus/Offer to Exchange, a related Letter of Transmittal and other exchange offer documents with the U.S. Securities and Exchange Commission (the “SEC”) and has and may file additional amendments thereto, and Nikola and a wholly-owned subsidiary of Nikola filed a Tender Offer Statement on Schedule TO with the SEC and has and may file additional amendments thereto. In addition, on August 29, 2022, Romeo Power, Inc. (“Romeo”) filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC and has and may file amendments thereto. Nikola and Romeo may also file other documents with the SEC related to the transaction. This document is not a substitute for the Registration Statement, the Tender Offer Statement, the Solicitation/Recommendation Statement or any other document that Nikola or Romeo may file with the SEC related to the transaction (collectively, the “Exchange Offer Materials”). THE EXCHANGE OFFER MATERIALS CONTAIN IMPORTANT INFORMATION. ROMEO’S STOCKHOLDERS ARE URGED TO READ THESE DOCUMENTS CAREFULLY (AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME) BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF ROMEO’S SECURITIES SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SECURITIES. The Exchange Offer Materials are available to all holders of Romeo’s common stock at no expense to them. The Exchange Offer Materials are available for free at the SEC’s website at www.sec.gov. Additional copies may be obtained for free by contacting Investor Relations, Corporate Secretary at Romeo Power, Inc., 5560 Katella Ave, Cypress, CA 90630 (for documents filed by Romeo) or Investor Relations, Corporate Secretary at Nikola Corporation, 4141 E Broadway Road, Phoenix, Arizona 85040 (for documents filed by Nikola).
Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, related to Romeo and the acquisition of Romeo by Nikola that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “contemplate,” “intend,” “believe,” “estimate,” “continue,” “goal,” “project” or the negative of such terms or other similar terms. Forward-looking statements in this report include, among other things, statements about the potential benefits of the proposed transaction, risks related to the failure to complete the proposed transaction, Romeo’s plans, objectives, expectations and intentions, the financial condition, results of operations and business of Romeo, and the anticipated timing of closing of the proposed transaction. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to differ materially from those projected or otherwise implied by the forward-looking statements, including the following: risks related to the ability of Romeo to consummate the proposed transaction on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the proposed transaction, including having a sufficient number of Romeo’s common stock being validly tendered into the exchange offer to meet the minimum condition; the ability to realize the anticipated benefits of the proposed transaction, including the possibility that the expected benefits from the proposed transaction will not be realized or will not be realized within the expected time period; disruption from the transaction making it more difficult to maintain business and operational relationships; the negative side effects of the announcement or the consummation of the proposed transaction on the market price of Romeo’s common stock or on Romeo’s operating results; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed transaction, risks that Romeo is unsuccessful in integrating potential acquired businesses and product lines; risks of decreased revenues due to pricing pressures or lower product volume ordered from customers; risks that our products, and services fail to interoperate with third-party systems; potential price increases or lack of availability of third-party technology, battery cells, components or other raw materials that we use in our products; potential disruption of our products, offerings, and networks; our ability to deliver products and services following a disaster or business continuity event; risks resulting from our international operations, including overseas supply chain partners; risks related to strategic alliances; risks related to our ability to raise additional capital in the future if required; potential unauthorized use of our products and technology by third parties; potential impairment charges related to our long-lived assets, including our fixed assets and equity method investments; changes in applicable laws or regulations, including tariffs and similar charges; potential failure to comply with privacy and information security regulations governing the client datasets we process and store; the possibility that the novel coronavirus pandemic may adversely affect our future results of operations, financial position and cash flows; the possibility that Russia’s invasion of Ukraine may result in continued price increases or lack of availability of certain raw materials; and the possibility that we may be adversely affected by other economic, business or competitive factors. The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in this and other reports we file with or furnish to the SEC, including the information in “Item 1A. Risk Factors” included in Part I of our Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent quarterly reports on Form 10-Q. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate.
Romeo Power Media
Chris Hodges or Joe Caminiti
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NEWARK, Calif.--(BUSINESS WIRE)--Today, FreeWire Technologies announced a program to make available battery-integrated electric vehicle (EV) charging equipment and solutions for Chevron’s (NYSE: CVX) branded stations. This will include both Chevron’s company-owned stations as well as its independently owned retailer and marketer stations.
“Our charging stations are helping retail locations like Chevron’s branded stations to enhance their offering to consumers,” said Arcady Sosinov, FreeWire Founder and CEO. “Providing ultrafast, convenient charging at traditional fueling stations can help unlock new customer relationships with EV drivers.”
FreeWire’s program will provide an integrated approach by coupling battery-integrated chargers supported by energy management software with custom branding/design and analytics.
“Chevron believes the future of energy is lower carbon, and our program with FreeWire is another step on our journey to deliver all forms of energy to our customers,” said Jesse Love, Chevron’s Retail Brand Experience manager. “We are committed to investing billions in lower-carbon projects over the next 10 years and are excited to join with companies like FreeWire that develop technologies that enhance our retail offerings and can grow our Chevron and Texaco brands.”
FreeWire’s fully integrated Boost ChargerTM will allow customers to get 200 miles of range in 15 minutes. The Boost Charger plugs into existing low-voltage utility service and delivers high-power charging that typically requires extensive site improvements and grid upgrades.
“As the world electrifies, traditional fuelers are looking for turnkey, cost-effective solutions like ours,” continued Sosinov. “We’re honored to work with Chevron.”
“As these charging stations are rolled out across our retail network in the United States, our customers will be able to find them and other services on our new Chevron and Texaco mobile apps,” Love added. “Another cool example of delivering a great customer experience.”
FreeWire continues to disrupt the EV charging market by offering unique solutions to traditional fuelers, including supermajors like bp and Phillips66, who have already tapped the California-based company to help advance their own electric-vehicle-charging plans.
About FreeWire Technologies
Founded in 2014, FreeWire Technologies is a global electric vehicle (EV) charging and energy solutions provider and a leading manufacturer of ultrafast, battery-integrated EV charging stations and power solutions. FreeWire’s fully-integrated Boost ChargerTM plugs into existing and ubiquitous low-voltage utility service and delivers high-power charging in areas that typically require extensive grid upgrades. The Boost Charger’s proprietary battery and power conversion technology enables ultrafast EV charging at all locations, freeing customers from the high costs of EV charging directly from the electric grid. FreeWire’s technology is deployed across Fortune 100 companies, commercial and utility customers, fleets, retail locations, and gas stations across the U.S. As the world seeks to electrify with the urgency it demands, FreeWire is a trusted partner to conventional fuelers –both small and large– supporting their entrance into the EV charging market and increasing the availability and reliability of EV charging across America.
Daniel Zotos, Director of Communications
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--(BUSINESS WIRE)--#Climate23--Battelle will again convene experts from government, private industry and academia in person to share technology breakthroughs and action plans to mitigate the effects of human-made climate change on March 28-30, 2023. The Innovations in Climate Resilience Conference will take place for a second year in Columbus, Ohio. The conference is organized and presented by Battelle in collaboration with its U.S. Department of Energy national lab partners and will feature keynote addresses, platform talks, panel discussions, breakout meetings and poster sessions.
Call for abstracts: Abstract submittals are encouraged and open until Sept. 30, 2022 on the following themes:
Lightning Talk Proposals: (Due October 31) Young professionals (5 years or less since highest degree conferred) focused on cutting-edge, breakthrough technology, relevant to the overall technical scope of the conference.
Live Demonstration Proposals: (Due October 31) Open to anyone. Generate exposure, demonstrate use, or solicit feedback for a technology, software, prototype, or tool in hands-on demonstration or user experience.
Media participation: Attendance by media is encouraged and verified members of the media may register without conference fees.
More: An Inside Battelle blog by Tech Fellow Justin Sanchez describes what the Inflation Reduction Act means for climate resilience. Blogs about the conference and a variety of Battelle subjects can be found here.
Social media/hashtags: Battelle’s handle on Facebook, LinkedIn and Twitter is @Battelle and on Instagram at @Battelle_Insider. #IRC23 #Climate23
On-demand keynote speakers and panel videos from the inaugural Innovations in Climate Resilience can be found here.
About Battelle
Every day, the people of Battelle apply science and technology to solving what matters most. At major technology centers and national laboratories around the world, Battelle conducts research and development, designs and manufactures products, and delivers critical services for government and commercial customers. Headquartered in Columbus, Ohio since its founding in 1929, Battelle serves the national security, health and life sciences, and energy and environmental industries. For more information, visit www.battelle.org.
Katy Delaney
(614) 424-7208
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T.R. Massey
(614) 424-5544
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MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. ("ProPetro" or the “Company") (NYSE: PUMP) today announced that it will issue its third quarter of 2022 earnings release on Tuesday, November 1, 2022 after the close of trading. ProPetro will host a conference call on Wednesday, November 2, 2022 at 8:00 AM Central Time to discuss its third quarter results.
To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro’s website, www.propetroservices.com.
A replay of the conference call will be available for one week following the call and may be accessed toll free by dialing 1-877-344-7529 for U.S. callers, 1-855-669-9658 for Canadian callers, as well as 1-412-317-0088 for international callers. The access code for the replay is 5206703.
About ProPetro
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information visit www.propetroservices.com.
David Schorlemer
Chief Financial Officer
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432-277-0864
Matt Augustine
Senior Manager - Corporate Development & Investor Relations
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432-848-0871
HOUSTON--(BUSINESS WIRE)--NOW Inc. (NYSE:DNOW) has scheduled a conference call to discuss the results for the third quarter of 2022 on Wednesday, November 2, 2022 at 8:00 am (US Central Time). Financial results for the third quarter ending on September 30, 2022 are expected to be released that morning before the market opens.
The call will be broadcast through the Investor Relations link on NOW Inc.’s web site at ir.dnow.com on a listen-only basis. Listeners should log in prior to the start of the call to register for the webcast. A replay of the call will be available online for thirty days following the conference. Participants may also join the conference call by dialing 1-844-200-6205 within North America or 1-929-526-1599 outside of North America, Access Code: 950354, five to ten minutes prior to the scheduled start time and asking for the “NOW Inc. Earnings Conference Call” or the “DistributionNOW Earnings Conference Call.”
DistributionNOW is a worldwide supplier of energy and industrial products and packaged, engineered process and production equipment with a legacy of 160 years. Headquartered in Houston, Texas, with approximately 2,300 employees and a network of locations worldwide, we offer a broad set of supply chain solutions combined with a suite of digital solutions branded as DigitalNOW® that provide customers world-class technology for digital commerce, data and information management. Our locations provide products and solutions to exploration and production companies, midstream transmission and storage companies, refineries, chemical companies, utilities, mining, municipal water, manufacturers, engineering and construction companies as well as companies operating in the decarbonization, energy transition and renewables end markets.
Mark Johnson
Senior Vice President and Chief Financial Officer
(281) 823-4754
VANCOUVER, British Columbia--(BUSINESS WIRE)--EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) (OTCQX: EVGIF), is pleased to announce that it has partnered with Adelaide Capital (“Adelaide”), a leading investor relations and capital markets advisory firm, to provide investor relations and consulting services to the Company.
Adelaide is a full-service investor relations firm that brings a unique and powerful perspective and a re-engineered investor relations business model. Adelaide will work closely with EverGen Infrastructure to develop and deploy a comprehensive capital markets program, which includes assisting with non-deal roadshows, virtual campaigns, conferences and assisting with investor communication. In exchange for Adelaide’s services, the Company has agreed to pay a monthly fee of C$10,000, in addition to 15,000 stock options at an exercise price of $2.75 per share and a three-year term, subject to the approval of the Board of Directors of the Company.
“We are thrilled to be working with Adelaide Capital who will provide us with a comprehensive investor relations platform and help strengthen our communication with current and prospective shareholders as we pursue our next leg of growth.” Chase Edgelow, CEO of EverGen.
About EverGen Infrastructure Corp.
EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future. Headquartered on the West Coast of Canada, EverGen is an established independent renewable energy producer which acquires, develops, builds, owns and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond.
For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.
EverGen Investor Contact
Victoria Rutherford
480-625-5772
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EverGen Media Contact
Katie Reiach
604-614-5283
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SAN JOSE, Calif.--(BUSINESS WIRE)--QuantumScape Corporation (NYSE: QS), a leader in the development of next-generation solid-state lithium-metal batteries for use in electric vehicles and other applications, today published its 2021 Environmental, Social and Governance (ESG) report.
“Since our founding, QuantumScape’s been on a mission to make a positive impact on the environment by helping to meaningfully reduce global greenhouse gas emissions from the transportation sector,” said Jagdeep Singh, QuantumScape founder and CEO. “Incorporating ESG considerations into our business strategy is essential to our success, so we are pleased to present our first annual ESG report as a public company.”
The report covers QuantumScape’s approach to environmental stewardship, social responsibility and corporate governance. The company’s ESG strategy focuses on issues most relevant to its business and that serve the long-term interests of its employees, customers, partners, investors and the communities in which it operates. QuantumScape aligned its ESG framework with the United Nations Sustainable Development Goals where it is positioned to make the most significant contributions.
To read the full report, please visit https://www.quantumscape.com/esg/.
About QuantumScape Corporation
QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. The company’s next-generation batteries are designed to enable longer range, faster charging and enhanced safety in electric vehicles to support the transition away from legacy energy sources toward a lower carbon future. For more information, visit www.quantumscape.com.
For Investors
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Over 109,000 Dry Tons of Residuals and Biosolids have been kept out of Landfills
BELLEVILLE, Ill.--(BUSINESS WIRE)--Over the last six years from 2016 through 2021, Illinois American Water has partnered with Illinois farmers to apply over 109,000 dry tons of residuals and biosolids, rather than sending them to landfills. The water treatment residuals and wastewater treatment biosolids from Illinois American Water’s Champaign, Fisher, Granite City, Peoria, Streator, Jerseyville and Chicago Metro service areas were applied to agricultural fields across the state.
Biosolids are primarily organic materials produced during wastewater treatment. Residuals are produced during the water treatment process and are typically alum or lime based. These materials are beneficial for agricultural land.
According to Ryan Schuler, water quality & environmental compliance manager, the partnership supports environmental sustainability. He said, “As the local water and wastewater provider, we know how important it is to protect our precious resources and to reuse what we can. This is why we focus on environmental partnerships and water source protection.”
Solids generated from the water or wastewater treatment process are held in basins or drying lagoons. In the fall, after crops have been harvested, the alum residuals, lime residuals or biosolids are land applied. Farmers then plow the field after the application or in the spring to incorporate the residuals into the soil. Alum residuals benefit the farmland by helping with the retention of soil moisture, whereas lime residuals benefit the fields by adjusting pH to optimal levels. Biosolids add nitrogen and phosphorus to the agricultural fields.
As a part of the land application program, strict application guidelines are followed to prevent material from entering landfills, decrease farming-related chemical use and adjust pH to further protect natural resources. Illinois American Water works with land application contractors so the residuals are applied to farmland that has undergone required sampling. Also, application isn’t made to sites that are wet, frozen, or near a potable water supply.
According to Schuler, there are several technical requirements, but “the effort is worth it.” He said, “Reusing these natural conditioners on farmland is just one of the ways we implement green technology into our operations. It’s the right thing to do and we are thankful to the farmers who partner with us,” said Schuler.
Illinois American Water implements green technology whenever possible. Examples include:
- Using solar to help decrease energy use.
- Recycling to reduce waste.
- Supporting pharmaceutical disposal programs to prevent the flushing of unwanted medications.
- Offering environmental grants to support local, community initiatives to protect watersheds.
- Partnering with educators to educate young customers.
- Educating customers about wise water use.
To learn more about Illinois American Water’s environmental efforts, please visit www.illinoisamwater.com.
About Illinois American Water – Illinois American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and wastewater services to approximately 1.3 million people. American Water also operates a quality control and research laboratory in Belleville. With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 6,400 dedicated professionals who provide regulated and regulated-like drinking water and wastewater services to more than 14 million people in 24 states. American Water provides safe, clean, affordable and reliable water services to our customers to help keep their lives flowing. For more information, visit amwater.com and diversityataw.com. Follow American Water on Twitter, Facebook and LinkedIn.
ILLINOIS AMERICAN WATER WAS RANKED HIGHEST IN CUSTOMER SATISFACTION WITH LARGE WATER UTILITIES IN THE MIDWEST THREE YEARS IN A ROW!
For J.D. Power 2022 award information, visit jdpower.com/awards.
Media: Karen Cotton, Sr. Manager External Communications, This email address is being protected from spambots. You need JavaScript enabled to view it.
MONTRÉAL--(BUSINESS WIRE)--Xebec Adsorption Inc. (TSX: XBC) (“Xebec” or the “Corporation”), a global provider of sustainable gas solutions, announces that it will file today an application with the Superior Court of Québec (the “Court”) for an initial order (the “Initial Order”) under the Companies’ Creditors Arrangement Act (the “CCAA”) and seek recognition of the Initial Order in the United States under Chapter 15 of the Bankruptcy Code.
The Initial Order is expected to provide a stay of proceedings and creditor claims in favour of Xebec and its Canadian and U.S. wholly owned subsidiaries in order to allow the Xebec group to implement further restructuring initiatives and initiate a Court-approved sale and investment solicitation process to solicit interest in a sale of, or investment in, all or part of the assets and business segments of the Corporation and its subsidiaries, with the goal of maximizing value for the Corporation and its stakeholders.
Decision Process
After careful consideration of all available alternatives, the boards of directors of each filing entity of the Xebec group determined that it was in the best interests of each filing entity, and of their respective stakeholders generally, to seek creditor protection under the CCAA.
Trading in the Common Shares of the Corporation
As a result of the CCAA filing, trading in the common shares of the Corporation on the Toronto Stock Exchange (“TSX”) is expected to be halted and it is anticipated that the trading thereof will continue to be halted until a review is undertaken by the TSX regarding the suitability of the Corporation to remain listed on the TSX.
The Corporation will provide a further update on these matters once more information is available.
Advisors
Xebec’s legal advisors in connection with the CCAA and Chapter 15 proceedings are Osler, Hoskin & Harcourt LLP and McDonald Hopkins LLC. The Corporation’s financial advisor is National Bank Financial Inc.
Related link:
About Xebec Adsorption Inc.
Xebec is a global provider of clean energy solutions for renewable and low carbon gases used in energy, mobility and industrial applications. The company specializes in deploying a portfolio of proprietary technologies for the distributed production of hydrogen, renewable natural gas, oxygen and nitrogen. By focusing on environmentally responsible gas generation, Xebec has helped thousands of customers around the world reduce their carbon footprints and operating costs. Headquartered in Québec, Canada, Xebec has a worldwide presence with nine manufacturing facilities, seventeen Cleantech Service Centers and four sales offices spanning over four continents. For more information, see www.xebecinc.com.
Cautionary Statement
All statements, other than statements of historical fact, contained in this press release constitute “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements typically contain words such as “believes”, “expects”, “anticipates”, “continues”, “could”, “indicates”, “plans”, “will”, “intends”, “may”, “projects”, “schedules”, “would” or similar expressions suggesting future outcomes or events, although not all forward-looking statements contain these identifying words.
Forward-looking statements contained in this press release include, without limitation, those related to (i) the CCAA application and proceedings, including the outcome of the application for an Initial Order, (ii) the obtaining of the approval of the Court to initiate a formal sale and investment solicitation process and (iii) halt of trading on the TSX and any review by the TSX regarding the suitability of the Corporation for listing on the TSX.
These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties that may cause Xebec’s actual results, level of activity or performance to be materially different from any future results, levels of activity or performance expressed in or implied by these forward-looking statements, including the ability for the Corporation to obtain financing during and following the CCAA process, general economic conditions and other risks other factors which are discussed in greater details in the Corporation’s Management’s Discussion and Analysis for the period ended June 30, 2022, the Corporation’s Annual Information Form as well as other filings made by the Corporation which are available under the Corporation’s profile on SEDAR at www.sedar.com. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. In addition, there is no assurance that there will be any residual value for shareholders under the CCAA process.
If these assumptions prove to be inaccurate, Xebec’s actual results may differ materially from those expressed or implied in the forward-looking statements. In addition, there can be no assurance that the CCAA proceedings will result in the maximization of the return in respect of the Corporation’s assets and those of its subsidiaries.
The forward-looking statements contained herein are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Except to the extent required by law, Xebec undertakes no obligation to publicly update or revise any forward-looking statements contained herein. Readers should not place undue reliance on forward-looking statements.
Investor Relations:
Xebec Adsorption Inc.
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+1 450-979-8700
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