DUBLIN--(BUSINESS WIRE)--Power management company Eaton (NYSE:ETN) will announce second quarter 2022 earnings on Tuesday, August 2, 2022, before the opening of the New York Stock Exchange. The company will host a conference call at 11 a.m. Eastern time that day to discuss second quarter 2022 earnings results with securities analysts and institutional investors.

The conference call will be available through a live webcast that can be accessed via the Eaton Second Quarter 2022 Earnings Results link on Eaton’s home page, which is www.eaton.com. The call replay and news release will also be available at the same link.

Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.

Founded in 1911, Eaton has been listed on the NYSE for nearly a century. We reported revenues of $19.6 billion in 2021 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on Twitter and LinkedIn.

Jennifer Tolhurst, Media Relations, +1 (440) 523-4006, This email address is being protected from spambots. You need JavaScript enabled to view it.
Yan Jin, Investor Relations, +1 (440) 523-7558

Joint Venture to offer added value services in hydrogen and related decarbonization projects and CO₂ capture

PARIS--(BUSINESS WIRE)--On the sidelines of UAE President His Highness Sheikh Mohammed Bin Zayed Al Nahyan’s visit to Paris, H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation and Catherine Colonna, Minister for Europe and Foreign Affairs witnessed the signing of an agreement to establish a new joint company between National Petroleum Construction Company (NPCC), a subsidiary of National Marine Dredging Company (The Group), and Technip Energies (Paris:TE) (ISIN:NL0014559478).

The agreement was signed by Eng. Ahmed Al Dhaheri, CEO of NPCC and Arnaud Pieton, CEO of Technip Energies.

Headquartered in Abu Dhabi, the new joint venture NT ENERGIES LLC aims to support energy transition in the UAE, the broader Middle East region and North Africa by providing added value services in blue and green hydrogen and related decarbonization projects, CO₂ capture in addition to industrial projects in the fields of waste-to-energy, biorefining, biochemistry, as well as other energy transition related themes.

Arnaud Pieton, CEO of Technip Energies, commented: “This partnership with NPCC marks a new milestone in our journey to accelerate the energy transition and limit climate change. We are very proud to have signed this agreement with such a recognized leader and long-standing partner with whom we have delivered many key energy projects. By sharing the experiences, capabilities, and know-how of our companies, we are confident that NT Energies will be able to rapidly bring to life the energy transition infrastructures that the UAE and MENA region require both domestically and for exports, particularly in the areas of Power to Gas, blue/green hydrogen and ammonia, CO₂ management, sustainable fuels and circularity. Beyond policies, it is industry leaders like T.EN and NPCC who will develop, scale up and integrate credible solutions towards a low carbon environment. Our collaboration will help to further develop local competencies, increase in-country value, and cooperate to break down barriers to engineer a sustainable future together.”

Eng. Yasser Zaghloul, the Group Chief Executive Officer at National Marine Dredging Group, said: “The new agreement reaffirms the commitment of NPCC, a subsidiary of National Marine Dredging Company (The Group), to support energy transition and decarbonization in line with the UAE’s strategy to take positive and effective climate change actions to ensure a decarbonized future. This agreement with Technip Energies opens up new opportunities for sharing expertise in the field of sustainable energy and aligns with our expansion plans and ongoing search for new ways to strengthen global partnerships in line with our strategic vision of continuous growth.”

Eng. Ahmed Al Dhaheri, CEO of NPCC, said: “We are excited to sign this agreement with Technip Energies, a pioneer in the energy transition industry. The new joint venture aims to promote a culture of sustainability and supports the best environmental practices in light of our rational government's commitment to moving toward clean energy sources. By combining Technip Energies technological know-how, overall project management capabilities and global footprint, and NPCC’s project management skills for EPC projects, regional footprint and fabrication capabilities, NT ENERGIES LLC will bring to the table added value services in hydrogen and related decarbonization projects and CO2 capture in the UAE, the region and North Africa.”

The new joint venture will also provide onshore and offshore oil and gas fields and facilities services, building and energy efficiency services, oil tanks installation and repair, installation, maintenance and manufacturing of alternative energy equipment as well as oil and gas facilities consultancy and engineering consultations on alternative energy and research.

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO₂ management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States.
For further information: www.technipenergies.com.

About NPCC

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

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

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

NPCC has built strong relationships with leading Operating Companies (OPCOs), National Oil Companies (NOCs) and International Oil Companies (IOCs), and has a team of over 1,200 engineers, based in four engineering centres in Abu Dhabi - UAE, Mumbai and Hyderabad - India, and La Ciotat - France.

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

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.
For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

Investor relations
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Media relations
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• Reported net income of $0.12 per diluted share
• Adjusted net income of $0.49 per diluted share, excluding impairments and other charges

HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) announced today net income of $109 million, or $0.12 per diluted share, for the second quarter of 2022. This compares to net income for the first quarter of 2022 of $263 million, or $0.29 per diluted share. Adjusted net income for the second quarter of 2022, excluding impairments and other charges, was $442 million, or $0.49 per diluted share. This compares to adjusted net income for the first quarter of 2022, excluding impairments and other charges and a loss on the early extinguishment of debt, of $314 million, or $0.35 per diluted share. Halliburton's total revenue for the second quarter of 2022 was $5.1 billion compared to revenue of $4.3 billion in the first quarter of 2022. Reported operating income was $374 million in the second quarter of 2022 compared to reported operating income of $511 million in the first quarter of 2022. Excluding impairments and other charges, adjusted operating income was $718 million in the second quarter of 2022 compared to adjusted operating income of $533 million for the first quarter of 2022.

“Our strong second quarter performance demonstrates that our strategy is working well, and Halliburton’s strategic priorities are driving value. Total company revenue grew 18% sequentially, as activity increased simultaneously in North America and international markets, and adjusted operating income grew 35% with strong margin performance in both divisions,” commented Jeff Miller, Chairman, President and CEO.

“I expect the international markets will experience multiple years of growth, and I am confident that Halliburton is positioned to benefit more from this multi-year upcycle than ever before. We have a leading technology portfolio, the right geographic presence, and new service line opportunities that align perfectly with our strategy to deliver profitable international growth.

“In North America, I expect Halliburton to uniquely maximize value in this strong, steadily growing, and all but sold-out market. Pricing gains across all product service lines supported significant sequential margin expansion in the second quarter.

“Halliburton’s competitive position is unique among our peers. We have the scale and technology to benefit meaningfully and differentially from the international market expansion, and we are the leader in the extremely busy North American market. I’m excited about the future of Halliburton and expect us to deliver profitable growth, margin expansion, strong free cash flow, and industry-leading returns in this upcycle,” concluded Miller.

Operating Segments

Completion and Production

Completion and Production revenue in the second quarter of 2022 was $2.9 billion, an increase of $558 million, or 24%, when compared to the first quarter of 2022, while operating income was $499 million, an increase of $203 million, or 69%. These results were driven by increased pressure pumping services in the Western Hemisphere, higher completion tool sales globally, increased artificial lift activity in North America land and Kuwait, and improved cementing activity in the Eastern Hemisphere. These improvements were partially offset by lower stimulation activity in Oman and decreased artificial lift activity in Latin America.

Drilling and Evaluation

Drilling and Evaluation revenue in the second quarter of 2022 was $2.2 billion, an increase of $232 million, or 12%, when compared to the first quarter of 2022, while operating income was $286 million, a decrease of $8 million, or 3%. This revenue increase was due to increased fluid services and wireline activity globally, higher project management activity in Latin America and the Middle East, and increased drilling services in Latin America. Operating income decrease was driven by seasonally lower software sales globally and decreased drilling services in Brazil.

Geographic Regions

North America

North America revenue in the second quarter of 2022 was $2.4 billion, a 26% increase when compared to the first quarter of 2022. This increase was primarily driven by increased pressure pumping services and artificial lift activity in North America land, increased fluid services, wireline activity, well intervention services, and higher completion tool sales across the region, and increased cementing activity in the Gulf of Mexico. These increases were partially offset by seasonally lower software sales across the region and lower stimulation activity in the Gulf of Mexico.

International

International revenue in the second quarter of 2022 was $2.6 billion, a 12% increase when compared to the first quarter of 2022. This improvement was primarily driven by increased activity across multiple product service lines in the Middle East, Argentina, Colombia, Australia, the Eastern Mediterranean, the United Kingdom, and Brunei, improved wireline activity and cementing in Europe/Africa/CIS, increased pressure pumping services in Mexico, and increased fluid services in the Caribbean. Partially offsetting these increases were seasonally lower software sales across international regions, as well as the impact of the wind down of our business in Russia.

Latin America revenue in the second quarter of 2022 was $758 million, a 16% increase sequentially, due to improved activity across multiple product service lines in Argentina and Colombia, increased stimulation and well construction services in Mexico, increased drilling-related services in the Caribbean, improved stimulation activity in Brazil, and higher project management activity in Ecuador. Partially offsetting these increases were seasonally lower software sales across the region, decreased drilling-related services in Brazil, and lower artificial lift activity in Argentina and Ecuador.

Europe/Africa/CIS revenue in the second quarter of 2022 was $718 million, a 6% increase sequentially. This improvement was primarily driven by higher activity across multiple product service lines in Angola and the Eastern Mediterranean, improved cementing activity, pipeline services, wireline activity, and testing services across the region, as well as increased fluid services and completion tool sales in the United Kingdom. These increases were partially offset by seasonally lower software sales across the region, the impact of the wind down of our business in Russia, and decreased drilling services in Norway.

Middle East/Asia revenue in the second quarter of 2022 was $1.2 billion, a 14% increase sequentially, primarily resulting from higher activity across multiple product service lines in the Middle East, Australia, and Brunei. These increases were partially offset by reduced stimulation activity in Oman and seasonally lower software sales across the region.

Other Financial Items

• Halliburton recorded a pre-tax charge of $344 million in the second quarter of 2022 as a result of our decision to exit Russia due to sanctions. This charge was included in "Impairments and other charges" on the Company's condensed consolidated statement of operations for the three months ended June 30, 2022.

Selective Technology & Highlights

• Halliburton announced that it will co-develop next generation field development planning software with Aker BP, a Norwegian oil and gas exploration and production company. The collaboration delivers a new cloud application – Field Development Planning (FDP) – from Halliburton. It also expands the scope of the current Digital Well Program®, a DecisionSpace® 365 cloud application, built on an open architecture to provide integrated well planning and design to increase collaboration and connectivity across drilling activities.

• Halliburton introduced the new Hedron™ platform of fixed cutter polycrystalline diamond compact (PDC) drill bits. These drill bits combine the latest technology with an industry-leading customization process to deliver high-performance, application-specific designs for customers. The culmination of multiple technologies, Hedron drill bits are the toughest and smartest on the market.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

Forward-looking Statements

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the impact of COVID-19 and any variants, the related economic repercussions and resulting negative impact on demand for oil and gas, operational challenges relating to COVID-19 and efforts to mitigate the spread of the virus, including logistical challenges, protecting the health and well-being of our employees, performance of contracts and supply chain disruptions; the ability of the OPEC+ countries to agree on and comply with production quotas; the continuation or suspension of our stock repurchase program, the amount, the timing, and the trading prices of Halliburton common stock, and the availability and alternative uses of cash; changes in the demand for or price of oil and/or natural gas; potential catastrophic events related to our operations, and related indemnification and insurance matters; protection of intellectual property rights and against cyber-attacks; compliance with environmental laws; changes in government regulations and regulatory requirements, particularly those related to oil and natural gas exploration, radioactive sources, explosives, chemicals, hydraulic fracturing services, and climate-related initiatives; compliance with laws related to income taxes and assumptions regarding the generation of future taxable income; risks of international operations, including risks relating to unsettled political conditions, war, including the ongoing Russia and Ukraine conflict and any expansion of that conflict, the effects of terrorism, foreign exchange rates and controls, international trade and regulatory controls and sanctions, and doing business with national oil companies; weather-related issues, including the effects of hurricanes and tropical storms; changes in capital spending by customers, delays or failures by customers to make payments owed to us, and the resulting impact on our liquidity; execution of long-term, fixed-price contracts; structural changes and infrastructure issues in the oil and natural gas industry; maintaining a highly skilled workforce; availability and cost of raw materials; agreement with respect to and completion of potential dispositions, acquisitions and integration and success of acquired businesses and operations of joint ventures. Halliburton's Form 10-K for the year ended December 31, 2021, Form 10-Q for the quarter ended March 31, 2022, recent Current Reports on Form 8-K and other Securities and Exchange Commission filings discuss some of the important risk factors identified that may affect Halliburton's business, results of operations, and financial condition. Halliburton undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

For Investors:
David Coleman
Investor Relations
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281-871-2688

For News Media:
Emily Mir
External Affairs
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281-871-2601

DUBLIN--(BUSINESS WIRE)--The "Breakthrough Innovation Enabling Efficient Thermal Energy Storage (TES)" report has been added to ResearchAndMarkets.com's offering.

This research service focuses on the disruptive technologies and the latest achievements in the TES space. It also highlights the various types of TES systems and compares them in terms of storage duration, application, efficiency, and other important factors.

Energy storage systems are key enabling technologies that reduce emissions and improve the efficiency of buildings; they also facilitate the integration of renewable energy resources and enhance the stability of the grid.

As countries across the world focus on achieving net-zero targets by 2050 and move to a circular economy, thermal energy storage (TES) systems will increasingly become a key part of the green revolution. Reliability, the minimal use of rare materials, and the ability to provide both heat/cold and electricity are some of the prominent features that make TES systems an attractive alternative to batteries.

The study offers a detailed review of the technological challenges that need to be overcome; existing and future TES systems are also discussed. In addition, the research service examines the global TES patent landscape, and it highlights the key patent owners/assignees and the patent jurisdiction with the highest activity.

The study outlines and describes heat/cold storage concepts and the different methodologies by which energy can be stored thermally and reutilized in the form of heat/cold or electricity. The study also highlights the emerging growth opportunities in the TES industry and offers recommendations to industry participants to leverage these opportunities.

Key Topics Covered:

1. Strategic Imperatives

• Why Is It Increasingly Difficult to Grow?
• The Strategic Imperative: Factors Creating Pressure on Growth
• The Impact of the Top 3 Strategic Imperatives on the TES Industry
• Growth Opportunities Fuel the Growth Pipeline Engine
• Research Methodology

2. Research Context and Summary of Findings

• Research Context
• Research Scope
• TES Technology Advancements - Key Findings

3. Technology Snapshot

• TES is Gaining Traction as a Key Enabler of Flexible and Secure Renewable Energy Integration.
• Sensible Heat Storage Continues to Dominate the Market while Latent Heat Storage Options are Gaining Traction.
• Widespread Applicability and Long Storage Duration Make Sensible Heat Storage an Attractive Option
• TES Application Mapping
• Cost Comparison of Key Storage Technologies
• Growth Drivers
• Growth Restraints

4. TES: Key Innovation

• Technologies that Enable Efficient and Reliable TES Applications
• Liquid Air Thermal Storage Technology Enables Carbon-free Storage
• Thermal Battery Storage Technology Offers Reduced Upfront Costs and Long Operating Life
• TES Systems Generate Electricity from the Temperature Differences between Storage Mediums
• Innovative Solar Plus Thermal Storage Systems Offer Superior Round Trip Efficiency
• TES Technology is Suitable for Long-term Energy Storage
• Cold Energy Storage Solutions Improve Buildings' Energy Efficiency
• Supercritical CO2 Power Cycle-based Electro-thermal Energy Storage
• CO2-based Long-duration Energy Storage Solution
• Other Prominent TES Innovation

5. Patent Analysis

• The United States Leads TES R&D Activity

6. Growth Opportunity Universe

• Growth Opportunity 1: The Demand for Low-cost Grid-scale Energy Storage Solutions is Propelling the Deployment of TES Systems
• Growth Opportunity 2: TES Systems Offer Significant Opportunity to Improve Energy Efficiency in Buildings
• Growth Opportunity 3: Stronger Regulations Propel TES Deployment

7. Appendix

• Technology Readiness Levels (TRL): Explanation
• Industry Interactions

8. Next Steps

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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COLLIERVILLE, Tenn.--(BUSINESS WIRE)--Mueller Industries, Inc. (NYSE: MLI) announces results for the second quarter of 2022. (All comparisons are to the prior year quarter.)

• Operating Income of $268.9 million versus $157.8 million
• Net Income of $206.6 million versus $108.8 million
• EPS of $3.65 versus $1.92
• Net Sales of $1.15 billion versus $1.01 billion

Second Quarter Financial and Operating Highlights:

• The 13.6 percent increase in net sales was driven by strong growth in our value added businesses, combined with higher selling prices across all businesses.
  • COMEX copper averaged $4.34 per pound during the quarter, two percent lower than the second quarter of 2021.
  • Our Industrials Metals group volume, measured in pounds, declined 4 percent, largely attributable to customer inventory re-balancing as lead times improved.
  • Our U.S. copper tube volume was up slightly and remains solid; however, influenced largely by economic softening outside of the U.S., our international tube sales declined 17 percent, against a very strong second quarter in 2021.
  • Our value added businesses grew 33 percent.
  • Divestitures in 2021 reduced net sales by $31 million as compared with the prior year quarter.

• Cash at quarter end was $202.5 million, up $114.6 million year to date.
  • Cash generated from operations during the period was $142 million.
  • Net debt was zero.
  • The current ratio at quarter end was 3.2 to 1.

Regarding the quarter performance and outlook, Greg Christopher, Mueller’s CEO said, “At the mid-way point in the year, our businesses continue to deliver excellent results. The second quarter was our twelfth consecutive quarter in which operating income grew over the prior year period. Rising interest rates, inflationary pressures and continued geopolitical disruptions will create short term challenges, but notwithstanding, we believe that Mueller is well positioned for continued long term growth.

"The majority of our businesses remain at capacity along with healthy backlogs. We anticipate that some tempering in our primary market segment, building construction, will occur, but that underlying demand will nevertheless remain at levels we consider very healthy for our businesses.

"Our cash generation is strong, and we have zero net debt along with a committed, untapped credit facility. Reinvestment in our businesses to be the lowest cost producer remains a top priority, and we are well equipped to take advantage of strategic acquisition opportunities as they arise.”

Mueller Industries, Inc. (NYSE: MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; energy transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East.

Statements in this release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties. These include economic and currency conditions, continued availability of raw materials and energy, market demand, pricing, competitive and technological factors, and the availability of financing, among others, as set forth in the Company’s SEC filings. The words “outlook,” “estimate,” “project,” “intend,” “expect,” “believe,” “target,” “encourage,” “anticipate,” “appear,” and similar expressions are intended to identify forward-looking statements. The reader should not place undue reliance on forward-looking statements, which speak only as of the date of this report. The Company has no obligation to publicly update or revise any forward-looking statements to reflect events after the date of this report.

Jeffrey A. Martin
(901) 753-3226

Company Website: CreekRoadMiners.com

PARK CITY, Utah--(BUSINESS WIRE)--Creek Road Miners, Inc. (OTCQB:CRKR) (“Creek” or “Company”) has announced that it has signed a non-binding term sheet with the intention to enter into a binding and definitive merger agreement (the “Merger’) with Prairie Operating Co., LLC a Delaware Limited Liability Company (“Prairie”).

With the successful execution of the Merger with Prairie, the Company will conclude a business combination and financing to acquire certain oil and gas properties, and relocate its headquarters to Houston, TX. The combined operating company will consummate the acquisition of over 23,000 net mineral leasehold acres within the DJ Basin, targeting the prolific Niobrara and Codell formations. Offset operators include EOG, Chevron, Oxy, and Civitas. With sufficient drilling inventory to support development for the next decade, Prairie intends to become a preeminent mid-cap E&P company. Management, led by public E&P veterans Edward Kovalik, Gary Hanna and Craig Owen, has over 100 years of operational experience around the world and applies best practices from the board room to field operations.

This transaction provides Creek Road an opportunity to greatly simplify its capital structure with Prairie owning approximately 33% of the pro-forma common shares. At the conclusion of the Merger, Creek Road will be debt- free and intends to change its name to Prairie to reflect the new business operation, and Prairie will operate as the surviving company.

The Company’s current operations utilize natural gas assets to power its bitcoin mining operation. Through this transaction the Company will reposition itself towards oil and gas production. Following the intended Merger, Creek will operate as a much larger enterprise in the energy sector. Paul L. Kessler the Executive Chairman of Creek stated, “There is no more significant sector than energy at this time. With the proposed Merger, Creek will step into an opportunity to achieve scale and the generation of revenue well beyond its current operational capacity.” Mr. Edward Kovalik, the CEO of Prairie, stated, “We’re excited to build a mid-cap E&P company oriented towards growth with our world-class assets. We believe our focus on responsibly developing production, coupled with the high-margin profile of our oil-weighted assets, presents a compelling investment case for creating shareholder value.”

About Creek Road Miners, Inc. (OTCQB: CRKR)

Creek Road Miners, Inc. (www.CreekRoadMiners.com) is a cryptocurrency mining company that leverages mobile power generation units and mining facilities in a manner that overcomes otherwise existing economic barriers. The Creek Road Miners model utilizes the abundance of stranded natural gas in a manner that provides its operations with a desirably priced energy source while benefitting energy operators, the consumer and environmental considerations.

Prairie Operating Company, LLC (www.Prairieopco.com) is an oil & gas company focused on environmentally responsible energy development.

Forward-Looking Statements:

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations and Media :

John D. Maatta
Creek Road Miners, Inc.
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• Data-driven collaboration with air traffic agencies helps airlines to burn less fuel, emit less carbon, and travel fewer miles
• Graphical depiction of what is going on at a single airport, or across the world, could result in changes in airspace design, pilot decisions
• Flight path designs, coupled with Airspace Insight, can further increase benefit

FARNBOROUGH, England--(BUSINESS WIRE)--GE Digital today announced Qantas has chosen to implement Airspace Insight™ as a tool designed to answer complex “what if” questions to improve airspace operations and identify opportunities to help drive more sustainable, efficient, and safe operations.

Airspace Insight is designed to help identify and quantify airspace inefficiencies to reduce overall flight time, fuel burn, and carbon emissions. It is estimated that a typical flight emits 900 to 1,000 kg of excess carbon per flight due to inefficient airspace design and air traffic control practices¹. Airspace Insight is the first tool of its kind enabling a collaborative approach among the necessary stakeholders -- Air Traffic Control (ATC), airlines, airports, airspace designers, and communities) to not only identify inefficiencies in an airspace, but also to recognize unnecessary flight paths over environmentally sensitive areas, helping reduce the impact of noise and pollution. ​

Airspace Insight is designed to better enable Qantas to understand what is happening in their airspace from a safety and efficiency perspective with more detail than they had access to before. This information enhances Qantas’ already industry-leading safety program with data they can use to collaborate with air traffic control organizations around the world. In addition, this data can ultimately help Qantas reduce carbon and other Greenhouse Gas (GHG) emissions while simultaneous decreasing aircraft noise footprints with optimal routing and more efficient climb and descent profiles.

Coupled with Navigation Services, Airspace Insight will support Qantas to continue their work in providing precision lateral and vertical guidance to every runway end. Expected benefits include eliminating circling, side-step, and non-precision procedures; providing lateral and vertical guidance to every runway end; promoting wind-aligned operations; accounting for non-normal and rare-normal conditions, reducing pilot and controller workload; providing guidance through complex terrain scenarios; and increasing track predictability. Passengers will also benefit from decreased flight times and reduced carbon emissions.

“The only way to get the kind of acceleration we need to hit our sustainability and efficiency goals is to put data to work,” said Andrew Coleman, General Manager of GE Digital’s Aviation Software business. “That data is already available in flight operations and in the flight itself. Innovators like Qantas are constantly looking to improve their flight experience for passengers and identify opportunities to drive change in their business and in the industry. We are honored to work with them toward those goals.”

Click on these links for more information about GE Digital’s Aviation Software portfolio and a GE Reports on how Qantas worked with GE Digital to develop FlightPulse®, an Electronic Flight Bag (EFB) application that puts key data into the hands of pilots.

About GE Digital

GE Digital transforms how our customers solve their toughest challenges by putting industrial data to work. Our mission is to bring simplicity, speed, and scale to digital transformation activities, with industrial software that delivers breakthrough business outcomes. GE Digital’s product portfolio – including grid optimization and analytics, asset and operations performance management, and manufacturing operations and automation – helps industrial companies in the utility, power generation, oil & gas, aviation, and manufacturing sectors change the way industry works. For more information, visit www.ge.com/digital.

¹ Environmental Assessment: European ATM Network Fuel Inefficiency Study

© 2022 General Electric. All rights reserved. GE, the GE logo, and other product names are either registered trademarks or trademarks of General Electric in the United States and/or other countries. All other trademarks are the property of their respective owners.

Media:
Ellie Holman
GE Digital
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CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on mission critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support, is pleased to announce its growing relationship with Teledyne Marine, a part of Teledyne Technologies, Inc. (NYSE:TDY), following a noteworthy Q2 2022. The three-month period marks the strongest revenue quarter between the parties since their partnership began four years ago.

Sidus Space signed its first two-year master supply agreement (MSA) with Teledyne Marine in July 2019, followed by a two-year product pricing agreement (PPA) in September 2021.

“We’ve been fortunate to build components for Teledyne Marine since 2019, and we’re excited to see our relationship grow and prosper,” said Sidus Space CEO and Founder, Carol Craig. “Teledyne Marine’s increased trust in Sidus is a testament to the quality of products we develop and the value we provide to our partners. We look forward to working together in the years to come.”

As part of the increasing scope of work and revenue with Teledyne Marine, Sidus Space will now manufacture components for Teledyne Marine’s Massachusetts facility and will continue supplying components to Teledyne Marine’s facilities in Texas and Florida.

Sidus Space has been on an upward trajectory over the past few months, taking significant strides to plant its flag among the international space community elite. In December 2021, Sidus listed its Class A common stock on the NASDAQ Capital Market via an IPO, making Craig the first female owner-founder of a publicly traded space company serving government and commercial space industries.

About Sidus Space

Sidus Space (NASDAQ: SIDU), located in Cape Canaveral, Florida, operates from a 35,000-square-foot manufacturing, assembly, integration, and testing facility focused on vertically integrated Space-as-a-Service solutions including end-to-end satellite support. The company’s rich heritage includes the design and manufacture of many flight and ground component parts and systems for various space-related customers and programs. Sidus Space has a broad range of Space-As-a-Service offerings including space-rated hardware manufacturing, design engineering, satellite manufacturing and platform development, launch and support services, data analytics services and satellite constellation management.

Sidus Space has a mission of Bringing Space Down to Earth™ and a vision of enabling space flight heritage status for new technologies while delivering data and predictive analytics to domestic and global customers. Any corporation, industry, or vertical can start their journey off-planet with Sidus Space’s rapidly scalable, low-cost satellite services, space-based solutions, and testing alternatives. More than just a “Satellite-as-a-Service” provider, Sidus Space is a trusted Mission Partner–from concept to Low Earth Orbit and beyond. Sidus Space is ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.

About Teledyne Marine

Teledyne Marine is a group of leading-edge subsea technology companies that are part of Teledyne Technologies Incorporated. Through acquisitions and collaboration, Teledyne Marine has evolved into an industry powerhouse, bringing Imaging, Instruments, Interconnect, Seismic, and Vehicle technology together to provide total solutions to our customers. www.teledynemarine.com

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Kevin Holmes
Chesapeake Group
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Sidus Space
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Gregory FCA
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CHICAGO--(BUSINESS WIRE)--CORE Industrial Partners (“CORE”), a manufacturing, industrial technology, and industrial services-focused private equity firm, announced today the acquisition of Tenere Inc (“Tenere” or the “Company”), a leading manufacturer of custom mechanical solutions to the information & communication technology, fiber and renewable energy end markets, by CORE portfolio company CGI Manufacturing Holdings (“CGI”).

Tenere is the seventh add-on acquisition to the CGI platform that CORE launched in August 2021. The combined CGI platform now covers approximately 1.4 million square feet with more than 2,000 employees across 14 facilities in eight states as well as Mexico. CGI holds ISO 9001, ISO 13485, ISO 17025 and AS9100D certifications, in addition to ITAR and FDA registrations.

Founded in 1993, Tenere is a trusted manufacturing partner to industry-leading companies building the critical technology infrastructure of the 21^st century. The Company provides solutions to complex product lines for data centers, fiber and 5G installations, and renewable energy infrastructure by leveraging decades of technical expertise and the latest in manufacturing automation and robotics for sheet metal fabrication and injection molding.

Tenere’s comprehensive suite of manufacturing capabilities and services, including prototyping, design for manufacturability, tooling, sheet metal fabrication and stamping, injection molding, assembly, integration, and testing, allows the Company to provide a complete solution and accelerate new product introduction for its customers. Headquartered in Dresser, Wisconsin, Tenere operates four facilities comprising nearly 600,000 square feet, including two facilities in Wisconsin, a dedicated injection molding facility in Westminster, Colorado, and a new state-of-the-art facility in Monterrey, Mexico. Tenere is ISO 9001-certified.

Matthew Puglisi, Partner at CORE, said, “Tenere’s unique combination of dynamic, early-stage collaboration capabilities and an expansive manufacturing footprint allows the Company to support customer innovation cycles and quickly deliver flexible solutions at scale, in alignment with the broader strategic direction of the platform. Further, the acquisition of Tenere helps expand the platform’s geographic reach while appreciably deepening its presence in high-growth, technology-focused end markets.”

Carey Chen, Chief Executive Officer of CGI, said, “Tenere’s extensive, automation-driven soft and hard tool fabrication fleet expands CGI’s sheet metal capacity, while the Company’s injection molding offering brings a synergistic new manufacturing capability to the platform. We’re excited to welcome Tenere to the CGI family and leverage our congruent cultures and capabilities to continue to provide differentiated solutions to our valued customers.”

Brian Steel, Chief Executive Officer of Tenere, said, “Tenere is extremely pleased to partner with CORE and CGI. The synergies between Tenere and CGI, along with our shared passion for innovation and customer success, will create added value for our combined customer base and enhance Tenere’s ability to deliver speed, flexibility, scalability, and technical expertise.”

Winston & Strawn LLP provided legal representation to CGI and CORE in the transaction.

ABOUT CORE INDUSTRIAL PARTNERS:

CORE Industrial Partners is a private equity firm with $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology, and industrial services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a proven track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies. For more information, visit www.coreipfund.com.

ABOUT CGI MANUFACTURING HOLDINGS:

CGI Manufacturing Holdings is a leading provider of complex sheet metal and machined production parts, assemblies, and weldments for a variety of end markets, including electrical transmission and distribution, warehouse automation, technology, aerospace & defense, medical, food, and industrials. With locations in Illinois, Wisconsin, Minnesota, Michigan, Indiana, Massachusetts and Oklahoma, CGI offers numerous in-house manufacturing capabilities, including laser cutting, sheet metal fabrication, complex assembly, CNC punching, CNC machining, forming, robotic welding, stamping, fastener insertion, and tool and die manufacturing, to effectively serve customers with lights-out manufacturing capabilities for mid- to high-volume production. For more information, visit www.cgiautomatedmanufacturing.com/cgiholdings.

ABOUT TENERE:

Tenere is a leading North American manufacturer of custom mechanical solutions to the information & communication technology, fiber and renewable energy end markets. The Company utilizes a broad suite of services and manufacturing capabilities, including prototyping, design for manufacturability, tooling, sheet metal fabrication and stamping, injection molding, assembly, integration and testing. Headquartered in Dresser, Wisconsin, Tenere operates four facilities across nearly 600,000 square feet and holds an ISO 9001 certification. For more information, visit www.tenere.com.

Jeremy Milner
BackBay Communications
(401) 862-9422
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TAMPA, Fla.--(BUSINESS WIRE)--#boaters--Boatsetter, the leading marketplace for on-the-water experiences and boat rentals in the U.S., is creating an entirely new industry within the sharing economy - and rapidly forging a path to entrepreneurship for thousands of boat owners in the process. In Tampa, Boatsetter saw more than 147% percent year over year growth in boat rental bookings.

Boatsetter is the world’s only legally compliant and insured peer-to-peer boat rental platform, having partnered with GEICO and BoatUS to pioneer the first-ever peer-to-peer boat rental insurance policy in 2017. This opened up a new world of possibilities for boat owners who, on average, use their boats only two weeks of the year.

“There are more than 15 million privately owned boats in the U.S., most of which sit unused for the vast majority of the year,” says Jackie Baumgarten, CEO of Boatsetter. “This makes them extremely expensive and underutilized assets. Boatsetter is a game changer because we help defray the cost of ownership, and we enable entrepreneurs to start their own business from the ground up.”

Boatsetter provides private boat owners with a way to safely and legitimately list their boats, and its intuitive platform makes it simple to manage one’s bookings. Boatsetter connects owners with renters and U.S. Coast Guard-licensed captains, and manages all of the logistics to allow private boat owners to earn income. To date, more than one million boaters and boat owners alike have used the platform, and last year, Boatsetter saw a 50 percent increase in the number of boats listed for rent.

Boating is a natural extension to the sharing economy, which has allowed people to turn homes, cars, RVs, swimming pools, and more into revenue generators. In fact, Boatsetter has a higher cohort revenue retention than the leading homesharing platform, meaning boat owners realize higher revenues year over year.

Owners of all ages, with all sizes and styles of boats, can build a successful business on the water. Some Boatsetter owners reported generating more than $100,000 in revenue in 2021 alone, and Boatsetter Operators - peer-to-peer owners with one or more boats listed - make up 70 percent of the Boatsetter platform. Millennials make up the largest segment of Boatsetter owners at 42 percent, while 75 percent of the boats that are rented are less than 26 feet in length.

"I've been with Boatsetter now since June 2021, and we've expanded from Austin to here in Tampa Bay," said Trevor Blankenship, a local owner who has completed almost 250 rentals across both cities. "We have a great relationship with the team, so listing on Boatsetter was a no-brainer and the way to go. Also, no other platform offers the same insurance that Boatsetter provides through GEICO and BoatUS."

Boatsetter has more than 50,000 boat listings of all styles and sizes, from pontoons, to catamarans, to fishing boats, to yachts, with the smallest boat for rent measuring just 8 feet in length, to the largest at 222 feet. Boatsetter is available in over 700 locations and counting.

About Boatsetter: With more than 50,000 boat listings available in over 700 locations worldwide, Boatsetter is the leading marketplace for on-the-water experiences and boat rentals. Boatsetter makes it easy to discover and enjoy a wide array of on- water experiences by connecting qualified renters directly to boat owners and licensed captains. Featuring the largest database of USCG-certified captains, Boatsetter makes it possible for even those with no prior boating experience to tap into an incredible array of water activities. Credited with pioneering the first ever peer-to-peer boat rental insurance policy, Boatsetter has empowered boat owners with the tools and support to become entrepreneurs on the water. Launched commercially in 2014, over one million boaters and boat owners alike have turned to Boatsetter to discover the endless possibilities the water provides.

Mollie Leal
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916-612-7462

Vecino to Acquire, Develop and Commercialize Oil and Gas Infrastructure

SAN ANTONIO--(BUSINESS WIRE)--Vecino Energy Partners, LLC (“Vecino”) today announced that it has secured an equity commitment of $200 million from EnCap Flatrock Midstream (“EnCap Flatrock”) and Vecino’s management team. Vecino plans to acquire and develop infrastructure to support the domestic oil and gas industry by leveraging its broad-based energy experience, which includes executive positions at public and private companies focused on upstream reserve development, oil and gas marketing, wellhead to consumer midstream systems, refining and heavy product storage and distribution.

Vecino’s management team is led by Chief Executive Officer Wayne Ziegler, President David Ash and a team of industry veterans, including Chief Operating Officer Jasen Walshak and Executive Vice President of Strategy and Business Development Nelson Ferries. Mr. Ziegler has extensive leadership experience, including previous roles as Vice President of the Southern Region at Koch Materials, Vice President of SemGas and most recently CEO at Nueces Midstream. Mr. Ash spent the first half of his career in investment and merchant banking before moving to San Antonio to pursue executive roles at BlackBrush Oil & Gas, TexStar Midstream and Nueces Midstream. Mr. Walshak most recently served as COO at Nueces Midstream and prior to that role, he spent over a decade at BlackBrush Oil & Gas in multiple leadership positions, including western division manager. Mr. Ferries began his 40-year career as a drilling and field engineer with Gulf Oil and Chevron and later transitioned to business development roles with Chevron, PG&E, Enron and spent nearly two decades at BP Energy Company before joining the rest of the management team at Nueces Midstream.

“We are truly excited to work with the EnCap Flatrock team and believe that the alignment of both our investment philosophies, particularly in light of current market conditions, will result in a very productive partnership,” said Mr. Ziegler.

Mr. Ash commented, “We feel extremely fortunate to be surrounded by some of the best leaders in the business, both on our management team and at the board level.”

“We are pleased to partner with Vecino Energy as the Company works to acquire, develop and commercialize oil and gas infrastructure,” said EnCap Flatrock Managing Partner Dave Kurtz. “We have closely followed Vecino’s management team for years, and we are confident that they will bring a thoughtful approach to energy investment and operations, driven by the team’s extensive and diverse backgrounds, which span across multiple commodities, roles and basins.”

Vecino was advised by Kirkland & Ellis LLP, with partner Kyle M. Watson leading the firm’s legal team. Winston & Strawn LLP served as legal counsel to EnCap Flatrock, with partner Isaac E. Griesbaum in the lead role.

About Vecino Energy Partners

Vecino Energy Partners, LLC, based in San Antonio, is focused on developing midstream infrastructure to support the domestic oil and gas industry. Vecino leverages its team’s experience operating upstream, midstream and downstream assets to craft custom solutions for its industry partners. For more information visit www.vecinoenergy.com.

About EnCap Flatrock Midstream

EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to new management teams from EFM Fund IV, a $3.25 billion fund. For more information, please visit www.efmidstream.com.

Kelly Kimberly
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713.822.7538

Sara Blair Gillette
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713.805.9663

Boatsetter has seen a 50% increase in the number of boats listed for rent.

WASHINGTON--(BUSINESS WIRE)--#boaters--Boatsetter, the leading marketplace for on-the-water experiences and boat rentals in the U.S., is creating an entirely new industry within the sharing economy - and rapidly forging a path to entrepreneurship for thousands of boat owners in the process.

Boatsetter is the world’s only legally compliant and insured peer-to-peer boat rental platform, having partnered with GEICO and BoatUS to pioneer the first-ever peer-to-peer boat rental insurance policy in 2015. This opened up a new world of possibilities for boat owners who, on average, use their boats only two weeks of the year.

“There are more than 15 million privately owned boats in the U.S., most of which sit unused for the vast majority of the year,” says Jackie Baumgarten, CEO of Boatsetter. “This makes them extremely expensive and underutilized assets. Boatsetter is a game changer because we help defray the cost of ownership, and we enable entrepreneurs to start their own business from the ground up.”

Boatsetter provides private boat owners with a way to safely and legitimately list their boats, and its intuitive platform makes it simple to manage one’s bookings. Boatsetter connects owners with renters and U.S. Coast Guard-licensed captains, and manages all of the logistics to allow private boat owners to earn income. To date, more than one million boaters and boat owners alike have used the platform, and last year, Boatsetter saw a 50 percent increase in the number of boats listed for rent.

Boating is a natural extension to the sharing economy, which has allowed people to turn homes, cars, RVs, swimming pools, and more into revenue generators. In fact, Boatsetter has a higher cohort revenue retention than the leading homesharing platform, meaning boat owners realize higher revenues year over year.

"I've been an avid boater for more than 25 years now, navigating vessels to and from Florida, back to the Chesapeake Bay," said Warren Govan, a local Washington D.C. owner who joined Boatsetter in 2015. "Boatsetter has helped me take my passion and turn it into a real business. I've completed over 224 rentals and counting, and I truly enjoy it."

Owners of all ages, with all sizes and styles of boats, can build a successful business on the water. Some Boatsetter owners reported generating more than $100,000 in revenue in 2021 alone, and Boatsetter Operators - peer-to-peer owners with one or more boats listed - make up 70 percent of the Boatsetter platform. Millennials make up the largest segment of Boatsetter owners at 42 percent, while 75 percent of the boats that are rented are less than 26 feet in length.

Boatsetter has more than 50,000 boat listings of all styles and sizes, from pontoons, to catamarans, to fishing boats, to yachts, with the smallest boat for rent measuring just 8 feet in length, to the largest at 222 feet. Boatsetter is available in over 700 locations and counting.

About Boatsetter: With more than 50,000 boat listings available in over 700 locations worldwide, Boatsetter is the leading marketplace for on-the-water experiences and boat rentals. Boatsetter makes it easy to discover and enjoy a wide array of on- water experiences by connecting qualified renters directly to boat owners and licensed captains. Featuring the largest database of USCG-certified captains, Boatsetter makes it possible for even those with no prior boating experience to tap into an incredible array of water activities. Credited with pioneering the first ever peer-to-peer boat rental insurance policy, Boatsetter has empowered boat owners with the tools and support to become entrepreneurs on the water. Launched commercially in 2014, over one million boaters and boat owners alike have turned to Boatsetter to discover the endless possibilities the water provides.

Mollie Leal
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916-612-7462

• Cloud-based solution will combine engine analytics with compressor monitoring and optimization technology
• The solution will help anticipate unexpected service events, improve energy production, and reduce plant downtime while fulfilling ESG standards
• Technology collaboration continuously expands asset connectivity to drive a customer-centric digital ecosystem and empower the industry to reduce emissions

WAUKESHA, Wis.--(BUSINESS WIRE)--INNIO Waukesha Gas Engines Inc. (INNIO Waukesha) and Detechtion Technologies Inc. (Detechtion) today announced a technology collaboration that will expand asset connectivity, drive a customer-centric digital ecosystem and empower our customers' transition to decarbonization. This comprehensive, cloud-based digital solution will support a new depth of remote asset insights and analysis across a fleet of installed natural gas engine and compressor packages.

The technology partnership will combine INNIO's Waukesha engine analytics with Detechtion's compression monitoring and optimization technology into a single solution for both new and existing compressor skids. The solution helps customers remotely manage their assets securely and in real-time. The system anticipates unexpected events, determines if assistance is required, improves energy production, and reduces plant downtime.

"The comprehensive solution combines INNIO's strength in engine analysis with Detechtion's wide range of compressor diagnostics. This collaboration enables us to drive our customer-centric strategy, helping drive the transition to net zero," said Bud Hittie, President of INNIO Waukesha Inc. and leading the Waukesha product brand.

"This collaboration will benefit the industry's need for solutions that provide deeper visibility and better control throughout the compressor skid while optimizing operators' operations. Both Detechtion's and INNIO's Waukesha teams have a wealth of knowledge and are energized to create an even more powerful solution that achieves the accessibility customers deserve," said Christopher Smith, President and CEO of Detechtion Technologies. "Detechtion has been creating digital twins and smart solutions to provide our compression customers with optimization and monitoring capabilities for over 20 years. We are excited to develop a combined solution alongside the Waukesha team."

About INNIO

INNIO is a leading energy solution and service provider that empowers industries and communities to make sustainable energy work today. With our product brands Jenbacher and Waukesha and our digital platform myPlant, INNIO offers innovative solutions for the power generation and compression segments that help industries and communities generate and manage energy sustainably while navigating the fast-changing landscape of traditional and green energy sources. We are individual in scope but global in scale. With our flexible, scalable, and resilient energy solutions and services, we are enabling our customers to manage the energy transition along the energy value chain wherever they are in their transition journey.

INNIO is headquartered in Jenbach (Austria), with other primary operations in Waukesha (Wisconsin, U.S.) and Welland (Ontario, Canada). A team of more than 3,500 experts provides life-cycle support to the more than 54,000 delivered engines globally through a service network in more than 80 countries.

INNIO's ESG rating places it number one of more than 500 worldwide companies in the machinery industry assessed by Sustainalytics.

For more information, visit INNIO's website at www.innio.com. Follow INNIO on Twitter and LinkedIn.

About Waukesha – an INNIO brand

INNIO's Waukesha engines set an industry standard for low emissions, fuel flexibility, and high reliability. Ranging from 335 hp to 5,000 hp, our rich- and lean-burn engines provide distributed gas compression and power generation solutions. The latest Waukesha engine models and upgrades help operators stay emissions-compliant without sacrificing operational excellence such as extended service intervals, fuel flexibility, and increased power. Whether installing power at a site or retrofitting the existing fleet, Waukesha has new and reUp remanufactured engines and parts as well as upgrading kits for conversions and modifications—all backed by OEM warranty and empowered by 115 years of engine expertise.

Waukesha connects with our customers locally for rapid response to their service needs, providing enhanced support through our broad network of distributors and solution providers with parts, services, and digital offerings. INNIO's Waukesha engines are engineered in Waukesha (Wisconsin, U.S.) and manufactured in Welland (Ontario, Canada).

For more information, visit INNIO's website at www.innio.com. Follow INNIO on Twitter and LinkedIn.

About Detechtion Technologies

Detechtion Technologies is the market-leading asset optimization provider in Upstream Oil & Gas saving our customers millions of dollars per year in expenses by enabling them to operate more efficiently, as well as operating more safely and environmentally. Detechtion leads the digital transformation and optimization of natural gas compression, oilfield chemicals, and other production operations with Asset Performance Management (APM), Industrial Internet of Things (IIoT), and Mobile solutions. Since 1999, thousands of users have depended on Detechtion Technologies to optimize over 10,000 assets worldwide.

Ali Mackey
INNIO Waukesha Gas Engines Inc.
281-740-1515
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Erica Moorman
Detechtion Technologies
210-332-0981
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SEATTLE--(BUSINESS WIRE)--#boaters--Boatsetter, the leading marketplace for on-the-water experiences and boat rentals in the U.S., is creating an entirely new industry within the sharing economy - and rapidly forging a path to entrepreneurship for thousands of boat owners in the process.

Boatsetter is the world’s only legally compliant and insured peer-to-peer boat rental platform, having partnered with GEICO and BoatUS to pioneer the first-ever peer-to-peer boat rental insurance policy in 2015. This opened up a new world of possibilities for boat owners who, on average, use their boats only two weeks of the year.

“There are more than 15 million privately owned boats in the U.S., most of which sit unused for the vast majority of the year,” says Jackie Baumgarten, CEO of Boatsetter. “This makes them extremely expensive and underutilized assets. Boatsetter is a game changer because we help defray the cost of ownership, and we enable entrepreneurs to start their own business from the ground up.”

Boatsetter provides private boat owners with a way to safely and legitimately list their boats, and its intuitive platform makes it simple to manage one’s bookings. Boatsetter connects owners with renters and U.S. Coast Guard-licensed captains, and manages all of the logistics to allow private boat owners to earn income. To date, more than one million boaters and boat owners alike have used the platform, and last year, Boatsetter saw a 50 percent increase in the number of boats listed for rent.

Boating is a natural extension to the sharing economy, which has allowed people to turn homes, cars, RVs, swimming pools, and more into revenue generators. In fact, Boatsetter has a higher cohort revenue retention than the leading homesharing platform, meaning boat owners realize higher revenues year over year.

"I’ve been around the water most of my life, so I'm passionate about sharing a similar experience with other people," said Captain Brian O., a local Seattle owner who joined Boatsetter in 2016. "As a long-time boat owner, I never used my boat as much as I would have liked. Since I started renting it out on Boatsetter, I've completed almost 220 bookings, so it's finally being put to good use—and it's paid for itself, plus fuel and maintenance."

Owners of all ages, with all sizes and styles of boats, can build a successful business on the water. Some Boatsetter owners reported generating more than $100,000 in revenue in 2021 alone, and Boatsetter Operators - peer-to-peer owners with one or more boats listed - make up 70 percent of the Boatsetter platform. Millennials make up the largest segment of Boatsetter owners at 42 percent, while 75 percent of the boats that are rented are less than 26 feet in length.

Boatsetter has more than 50,000 boat listings of all styles and sizes, from pontoons, to catamarans, to fishing boats, to yachts, with the smallest boat for rent measuring just 8 feet in length, to the largest at 222 feet. Boatsetter is available in over 700 locations and counting.

About Boatsetter: With more than 50,000 boat listings available in over 700 locations worldwide, Boatsetter is the leading marketplace for on-the-water experiences and boat rentals. Boatsetter makes it easy to discover and enjoy a wide array of on- water experiences by connecting qualified renters directly to boat owners and licensed captains. Featuring the largest database of USCG-certified captains, Boatsetter makes it possible for even those with no prior boating experience to tap into an incredible array of water activities. Credited with pioneering the first ever peer-to-peer boat rental insurance policy, Boatsetter has empowered boat owners with the tools and support to become entrepreneurs on the water. Launched commercially in 2014, over one million boaters and boat owners alike have turned to Boatsetter to discover the endless possibilities the water provides.

Mollie Leal
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916-612-7462

Ten Organizations Chosen by TA Team Members Each Receive $5,000

WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) is celebrating its 50^th anniversary and a half century of serving professional drivers and motorists traveling along the nation’s highways by giving $50,000 to charities selected by TA team members.

TA team members nationwide submitted their favorite charitable organizations for consideration. A committee including 15 of TA’s most tenured employees (each with over 42 years with the company) selected the 10 organizations to receive $5,000 each. The recipients are:

• America’s VetDogs
• Big Brothers Big Sisters of America
• National Veterans Memorial and Museum (NVVM)
• Save the Children
• Shriners Hospitals for Children
• St. Jude Children’s Research Hospital
• The City Mission (Cleveland)
• U.S.VETS (United States Veterans Initiative)
• Wounded Warrior Project
• Wounded Warriors in Action Foundation

“We are grateful to the TravelCenters of America team for their donation to support Veteran programming at the NVMM,” said Colonel William Butler, U.S. Army (Retired), Chief of Staff at the National Veterans Memorial and Museum. “TA’s commitment to Veterans will directly support our Resilience and Wellness programming which studies have shown can reduce Veterans’ PTSD symptoms.”

In addition to the $50,000 in contributions, TA is fostering a culture of giving back during its golden anniversary. Team members are encouraged to complete 50 hours of community service throughout the year.

“Our 50^th anniversary is an incredible milestone and I can think of no better way to celebrate than by continuing TA’s rich history of giving back,” said Jon Pertchik, Chief Executive Officer of TravelCenters of America. “For 50 years, we have built our loyal customer base because of the dedication of our passionate team members and we are excited that dozens of them who have worked at the company from the beginning led us on this initiative.”

About TravelCenters of America
TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 18,000 team members serve guests in over 275 locations in 44 states, principally under the TA^®, Petro Stopping Centers^® and TA Express^® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, and leverages alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet^® and Country Pride^®. For more information, visit www.ta-petro.com.

Tina Arundel
TravelCenters of America
440-250-4758
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Built on the platform delivering over 100,000+ projects a week, Aurora's AI solutions simultaneously evaluate HD map imagery and LIDAR data to generate 3D models in 30 seconds

SAN FRANCISCO--(BUSINESS WIRE)--#SaaS--Aurora Solar, a cloud-based platform trusted by solar professionals across marketing, sales, design, and operations, today unveiled new artificial intelligence (AI) solutions. Powered by proprietary computer vision and machine learning algorithms, Aurora’s AI offerings streamline the solar project lifecycle to radically accelerate revenue and lower the soft costs of delivering solar, ultimately driving solar adoption.

Next Generation Digital Marketing: Lead Capture AI
Aurora Solar’s Lead Capture AI empowers marketers to innovate the top-of-funnel experience with personalized, AI-generated 3D solar estimates for homeowners, enabling businesses to:

• Decrease acquisition and overhead costs: With just an address and utility bill estimate, homeowners are instantly presented with potential solar savings and a 3D visual of their own home outfitted with solar. By eliminating the back and forth of site visits, paperwork, and inaccurate estimates, solar businesses convert more web leads.
• Boost conversion funnels and streamline deals: Using the website to capture qualification data empowers sales and marketing to accelerate speed-to-lead.
• Stand out from the crowd: Digital-first marketing and sales strategies enable solar businesses to meet — and exceed — homeowners' expectations with a seamless, omnichannel experience.

“In less than a month with Aurora’s Lead Capture AI, we quadrupled our web lead volume and saw 25 percent higher appointment set rates from our organic leads compared to what we generated through other marketing channels,” said Richard Murdocco, vice president of marketing, NY State Solar. “Lead Capture AI’s engaging visuals with readily quantified benefits help potential clients understand not only their savings, but what solar would realistically look like on their home.”

Better Together: Aurora AI for Design and Sales Teams
Available in Design Mode and Sales Mode, Aurora AI enables solar professionals to move fast and scale their business. Eliminating manual modeling and design from start to finish, Aurora AI develops reliable 3D models within 30 seconds. Top benefits include:

• Increased efficiency: With the click of a button, designers and sales teams can begin projects with an AI-generated site model.
• Accurate quoting: Sales Mode with Aurora AI empowers sales teams to quickly and confidently create a solar quote without sacrificing accuracy.
• Scalability: Design Mode with Aurora AI enables solar companies to scale up their design operations by focusing their limited engineering and design resources for the most valuable and advanced aspects of the design workflow.

“While the demand for solar grows, solutions haven’t kept pace; most solar software products offer a choice between speed or accuracy. At the same time, solar buyers want a dynamic, fast, and personalized experience,” said Chris Hopper, CEO and co-founder, Aurora Solar. "Our AI solutions deliver on all fronts: they power the marketing and sales teams, streamline the design process, and provide a delightful homeowner experience. Together with our customers, we’ve avoided nearly 60 million metric tons of carbon dioxide emissions since Aurora’s inception, and we look forward to further supporting the creation of a cleaner, more sustainable world as our AI-powered solutions accelerate solar adoption.”

Learn more about Lead Capture AI and Aurora AI: schedule a personalized demo here.

About Aurora Solar
Aurora is creating a future of solar for all. The company is putting the power of data and technology into the hands of every solar professional to make solar adoption simple and predictable. The cloud-based platform uses data, automation, and AI to streamline workflows and grow solar businesses faster. More than 7,000 of the industry's top organizations rely on Aurora and over nine million solar projects have been designed with the platform globally. The San Francisco-based company was the only climate tech business named to the 2022 Forbes AI 50 and was voted the best solar software by Solar Power World in 2021. For more information, visit www.aurorasolar.com and follow on Twitter @AuroraSolarInc.

Karen DeVincent-Reinbold
PR & communications director
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• For the past decade, Watermill has helped transform Tenere into a sophisticated supplier of custom mechanical solutions for the high-growth markets of information and communications technology, fiber optics and renewable energy.
• Under Watermill ownership, Tenere refocused and reinvigorated its business strategy, implemented facility improvements across North America, coordinated key acquisitions, completed a greenfield expansion to Mexico, more than doubled its employee base and built a high-performing management team that created a foundation for enduring success.

BOSTON--(BUSINESS WIRE)--#5G--The Watermill Group, a strategy-driven private investment firm, today announced the sale of Tenere to CGI Manufacturing Holdings (“CGI”), a portfolio company of CORE Industrial Partners (“CORE”). Tenere is a leading supplier of custom mechanical solutions, serving dynamic, blue-chip customers across information and communications technology (ICT), fiber optics and renewable energy. CORE is a private equity firm that supports the growth of North American lower middle-market manufacturing, industrial technology, and industrial services companies. The purchase of Tenere marks CORE’s seventh CGI add-on acquisition.

Since its 2012 acquisition by the Watermill Group, Tenere built a high-performing management team, repositioned its strategy and deeply invested in expansion, acquisition and equipment to become a leading mechanical solutions provider to some of the world’s most innovative companies. As a result, Tenere joins CORE with a strong financial profile, expanding customer base, and growing employee population, which has more than doubled since 2012.

“We are incredibly proud of Tenere’s evolution and rapid growth,” said Robert Ackerman, Senior Partner, Watermill Group. “Ten years ago, we put the company on a new strategic course, focusing on innovation-obsessed end markets that need a creative, technologically advanced partner to match innovation demands. Tenere has become that trusted strategic partner to industry-leading companies, and will move forward with a foundation for enduring success.”

Watermill President & COO Julia Karol added, “Tenere’s story is a testament to what can be achieved when Watermill’s strategic approach is embraced by a highly skilled company. We at Watermill are thrilled by Tenere’s growth during our tenure and believe the business is well-positioned to capture its next phase of growth and innovation with CORE.”

For this transaction, Lincoln International LLC provided sell-side advisory services, Proskauer Rose LLP provided legal services, CION Investment and Fifth Third Bank, NA provided debt.

About the Watermill Group
The Watermill Group is a strategy-driven private investment firm that helps companies achieve their full potential through strategic transformation. For more than four decades, the family owned and managed firm has been acquiring, operating and improving companies. Watermill looks for businesses in which it can apply a unique combination of strategic insight and management expertise to re-imagine their future and drive growth. www.watermill.com.

About Tenere
Tenere is a leading North American manufacturer of custom mechanical solutions to the information & communication technology, fiber and renewable energy end markets. The Company utilizes a broad suite of services and manufacturing capabilities, including prototyping, design for manufacturability, tooling, sheet metal fabrication and stamping, injection molding, assembly, integration and testing. Headquartered in Dresser, Wisconsin, Tenere operates four facilities across nearly 600,000 square feet and holds an ISO 9001 certification. For more information, visit www.tenere.com.

Joanna Clark
CXO Communication
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207-712-1404

Campaign increased awareness of Michelin’s EV-specific tires by 70 percent

Perception of Michelin as an environmentally friendly brand increased by 38 percent

SAN FRANCISCO--(BUSINESS WIRE)--Volta Inc. (NYSE: VLTA), an industry-leading electric vehicle (“EV”) charging network powering vehicles and commerce, partnered with Michelin North America, Inc. (OTCMKTS: MGDDY) to bring the mobility brand’s “Motion For Life” campaign to millions of EV drivers and consumers in the U.S. The campaign showcased Michelin’s innovative tires designed to maximize EV performance, making Volta—both an EV charging and media network—the ideal platform to meaningfully reach audiences while positively impacting the environment.

Volta provides accessible and reliable public EV charging that conveniently complements consumers' daily routines with locations at grocery stores, entertainment venues, apparel retailers, pharmacies, banks, and more. With eye-catching digital screens located steps away from the entrances of these locations, Volta stations double as an innovative media network, allowing brands to reach consumers in an environmentally sustainable format while they are in a purchasing mindset.

The strategic location of Volta’s stations in the front of parking lots ensured Michelin’s message reached not just EV drivers but millions of shoppers who are projected to be EV owners in the future. As a technological leader, Michelin has been preparing for the EV revolution and designs tires that maximize EV performance, like the MICHELIN ® Pilot ® Sport EV tire, which can extend battery range by 35 miles.¹ A study conducted by an independent, third-party research firm revealed this campaign successfully improved awareness of Michelin’s EV-specific tires by 70 percent and boosted the perception that Michelin makes the best tires for EVs by 23 percent, demonstrating the impact of Volta’s large-format screens on influencing consumer mindsets.

“As the market for electric vehicles continues to grow, finding unique ways to reach the EV consumer is critical,” said Stephanie Tarbet, Michelin North America Vice President of Communications, Brands, and Government Affairs. “Working with a partner like Volta has allowed us to share our brand campaign directly with the consumer, providing a highly effective visual of our technological leadership.”

Michelin’s campaign directly enabled Volta to deliver more than 470,000 electric miles to EV drivers via Volta’s media-enabled charging stations. As a result, Michelin helped avoid an estimated 113 tons of CO2 emissions that would have otherwise been created by gasoline-powered vehicles.²

The environmental benefit of this campaign was understood by consumers as well—perceptions of Michelin being an environmentally-friendly brand increased by 38 percent, as measured by the aforementioned third-party research firm.

“We are proud to partner with Michelin to achieve both their business and environmental sustainability goals,” said Brandt Hastings, Chief Commercial Officer at Volta. “Volta’s unique combination of EV charging and media make it the only company that can effectively shape consumer behavior while supporting the rapid transition to a clean, electric transportation future.”

About Volta

Volta Inc. (NYSE: VLTA) is an industry-leading electric vehicle ("EV") charging and media company. Volta's unique network of charging stations powers vehicles and drives business growth while accelerating a clean energy future. Volta delivers value to site partners, brands, and consumers by installing charging stations that feature large-format digital advertising screens located steps away from the entrances of popular commercial locations. Retailers can attract and influence foot traffic, advertisers can precisely target audiences, and EV drivers can charge their vehicles seamlessly as they go about their daily routines. Volta's extensive network leverages its proprietary PredictEV™ platform, which uses sophisticated behavioral science and machine learning technology to help commercial property owners, cities, and electric utilities plan EV infrastructure intelligently, efficiently, and equitably. To learn more, visit www.voltacharging.com.

About Michelin North America, Inc.

Michelin, the leading mobility company, is working with tires, around tires and beyond tires to enable Motion for Life. Dedicated to enhancing its clients' mobility and sustainability, Michelin designs and distributes the most suitable tires, services and solutions for its customers’ needs. Michelin provides digital services, maps and guides to help enrich trips and travels and make them unique experiences. Bringing its expertise to new markets, the company is investing in high-technology materials, 3D printing and hydrogen, to serve a wide variety of industries–from aerospace to biotech. Headquartered in Greenville, South Carolina, Michelin North America has approximately 22,500 employees and operates 34 production facilities in the United States and Canada. (michelinman.com)

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, statements regarding Volta’s strategy 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: intense competition faced by Volta in the EV charging market and in its content activities; the possibility that Volta is not able to build on and develop strong relationships with real estate and retail partners to build out its charging network and content partners to expand its content sales activities; market conditions, including seasonality, that may impact the demand for EVs and EV charging stations or content on Volta’s digital displays; risks, cost overruns and delays associated with construction and installation of Volta’s charging stations; risks associated with any future expansion by Volta into additional international markets; cost increases, delays or new or increased taxation or other restrictions on the availability or cost of electricity; rapid technological change in the EV industry may require Volta to continue to develop new products and product innovations, which it may not be able to do successfully or without significant cost; the risk that Volta’s shift to including a pay-for-use charging business model and the requirement of mobile check-ins adversely impacts Volta’s ability to retain driver interest, content partners and site hosts; the ability of Volta's new management team to successfully integrate into Volta and execute on Volta's business strategy; the EV market may not continue to grow as expected; and the ability to protect its intellectual property rights; and those risk factors discussed in Volta’s Annual Report on Form 10-K for the year ended December 31, 2021, Volta's Form 10-Q for the quarter ended March 31, 2022, filed with the Securities and Exchange Commission (the “SEC”) on May 13, 2022, and other Quarterly Reports on Form 10-Q, and other reports and documents Volta files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Volta undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

¹ Rolling Resistance internal study conducted in 10/2020, on dimension 255/45 R19, comparing MICHELIN Pilot Sport EV (6.7kg/t) versus MICHELIN Pilot Sport 4 SUV (8.8kg/t). For an electrical vehicle of a mass 2151kg, with an autonomy of 540km, this gap of 2.1kg/t drives to a gain of autonomy of more than 60km, or more than 10% of the initial range.
² Data collected to determine environmental benefits from Volta's charging stations is calculated in accordance with US EPA’s methodology using the published greenhouse gas equivalencies calculator, and the US Department of Energy's published miles per kWh rating per electric vehicle (EV) model. Environmental calculations are good faith estimates made using assumptions that are based on current industry and other government and societal data available to Volta, which may be updated from time to time.

Volta Inc.
Lucas Piazza
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Michelin North America, Inc.
Christian Fisher
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Agreement positions Avmax as Canadian leader in sustainable aviation

CALGARY, Alberta & LOS ANGELES, Calif.--(BUSINESS WIRE)--#aerospace--“Canada is the largest regional turboprop market in the world putting a responsibility on companies like Avmax to identify and adopt the technologies that enable us to thrive while reducing environmental impact,” said Scott Greig, SVP and head of Avmax Aircraft Leasing Inc. Today, Universal Hydrogen Co., the leader in hydrogen fuel services and aircraft conversions, announced that Avmax Aircraft Leasing Inc. placed a firm order to convert 20 regional aircraft to run on green hydrogen. Within this order, Avmax has the flexibility to select between Universal Hydrogen’s ATR 72-600 and Dash 8-300 conversion kits. Further, Universal Hydrogen will provide hydrogen fuel to power both Avmax’s leased and owned fleets. Avmax, a large regional lessor, engineering house, MRO, and global aircraft operator, could also become a maintenance and MRO partner to Universal Hydrogen given the company’s solid North American operating footprint and aircraft conversion capabilities.

“This order is an important step for Canada’s sizable regional aviation market, which is home to the largest turboprop fleet in the world with nearly 300 Dash-8s and 50 ATRs servicing over 120 airports,” said Paul Eremenko, co-founder and CEO of Universal Hydrogen. “As air travel volumes return to pre-pandemic levels, expansive nations like Canada are revitalizing regional routes to reconnect communities and spur economic activity. We’re excited to collaborate with Avmax to bring hydrogen to Canadian skies.”

“Rapidly curtailing our contribution to aviation's carbon impact requires looking at how we operate our fleets. Universal Hydrogen’s regional conversion kits allow our existing and future fleet to run on green hydrogen, and Universal Hydrogen is simultaneously unlocking cost-competitive and scalable logistics for hydrogen fuel,” continued Greig. “Offering our customers true-zero-emissions products and services sets us apart, and we hope to see other airlines in Canada follow suit. We see green hydrogen as the only solution to fully decarbonizing the industry and we’re thrilled Universal Hydrogen started its work by tackling regional aircraft solutions.”

About Universal Hydrogen

Universal Hydrogen is making hydrogen-powered commercial flight a near-term reality. The company takes a flexible, scalable, and capital-light approach to hydrogen logistics by transporting it in modular capsules over the existing freight network from green production sites directly to the airplane anywhere in the world. The company is targeting regional and narrowbody/single aisle airplanes as the near-term and most impactful decarbonization opportunities. Universal Hydrogen is also working to certify a powertrain conversion kit to retrofit existing regional aircraft to fly on hydrogen.

About Avmax Aircraft Leasing Inc.

​​Avmax Group Inc. (“Avmax”) strives to simplify its customers’ aviation needs through dependable, globally integrated services with trusted results. Established in 1976, Avmax has continuously grown its capabilities to include Aircraft Leasing, Spares, MRO, Airline Operations, Engine Sales & Leasing, Aerospace Insurance, Avionics, Component Repairs, Engineering, and Paint. Avmax is a global company with locations in Australia, Canada (HQ), Chad, Kenya, Mexico, Singapore, the United Kingdom, and the USA.

Avmax’s Engineering division is a Transport Canada authorized Design Approval Organization (DAO), and the Maintenance division is a Transport Canada authorized Maintenance, Repair, and Overhaul (MRO) organization. Visit our website at www.Avmax.com for more information.

Media
Kate Gundry
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HOUSTON--(BUSINESS WIRE)--PNC Bank, National Association, as the trustee (the “Trustee”) of the San Juan Basin Royalty Trust (the “Trust”) (NYSE: SJT), today declared a monthly cash distribution to the holders (the “Unit Holders”) of its units of beneficial interest (the “Units”) of $6,766,905.11 or $0.145185 per Unit, based primarily upon the reported production of the Trust’s subject interests (the “Subject Interests”) during the month of May 2022. The distribution is payable August 12, 2022, to the Unit Holders of record as of July 29, 2022.

For the production month of May 2022, the owner of the Subject Interests, Hilcorp San Juan L.P. and the operator of the Subject Interests, Hilcorp Energy Company (collectively, “Hilcorp”), reported to the Trust net profits of $9,121,113 ($6,840,835 net royalty amount to the Trust).

Hilcorp reported $12,895,888 of total revenue from the Subject Interests for the production month of May 2022. For the Subject Interests, Hilcorp reported $3,774,775 of production costs for the production month of May 2022, consisting of $2,153,920 of lease operating expense, $1,580,833 of severance taxes and $40,022 of capital costs.

Based upon the information that Hilcorp provided to the Trust, gas volumes for the Subject Interests for May 2022 totaled 2,019,106 Mcf (2,243,451 MMBtu), as compared to 2,098,999 Mcf (2,332,221 MMBtu) for April 2022. Dividing revenues by production volume yielded an average gas price for May 2022 of $6.09 per Mcf ($5.48 per MMBtu), as compared to an average gas price for April 2022 of $4.82 per Mcf ($4.34 per MMBtu).

Production from the Subject Interests continues to be gathered, processed, and sold under market sensitive and customary agreements, as recommended for approval by the Trust’s Consultant. The Trustee continues to engage with Hilcorp regarding its ongoing accounting and reporting to the Trust, and the Trust’s third-party compliance auditors continue to audit payments made by Hilcorp to the Trust, inclusive of sales revenues, production costs, capital expenditures, adjustments, actualizations, and recoupments. The Trust’s auditing process has also included detailed analysis of Hilcorp’s pricing and rates charged. As previously disclosed in the Trust’s filings, these revenues and costs (along with all costs) are the subject of the Trust’s ongoing comprehensive audit process by our professional consultants and outside counsel to ensure full compliance with all the underlying operative Trust agreements and evaluating all available potential remedies in the event there is evidence of non-compliance.

Except for historical information contained in this news release, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally are accompanied by words such as “estimates,” “anticipates,” “could,” “plan,” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things, certain information provided to the Trust by Hilcorp, volatility of oil and gas prices, governmental regulation or action, litigation, and uncertainties about estimates of reserves. These and other risks are described in the Trust’s reports and other filings with the Securities and Exchange Commission.

San Juan Basin Royalty Trust
PNC Bank, National Association
PNC Asset Management Group
2200 Post Oak Blvd., Floor 18
Houston, TX 77056
website: www.sjbrt.com
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Ross Durr, Senior Vice President & Mineral Interest Director
Kaye Wilke, Investor Relations, toll-free: (866) 809-4553