And Participation in Investor Conferences

HOUSTON--(BUSINESS WIRE)--Today Western Midstream Partners, LP (NYSE: WES) (“WES” or the “Partnership”) announced that before the market open on Monday, August 15, 2022, it will make available on its website at www.westernmidstream.com a post-earnings interview with Kristen Shults, Senior Vice President and Chief Financial Officer and Kamal Govender, Director of ESG, to provide additional insights related to second-quarter results.

On August 16 and 17, 2022, Michael Ure, President and Chief Executive Officer, Ms. Shults, and Daniel Jenkins, Director of Investor Relations, will participate in one-on-one and group sessions at the Citi One-on-One Midstream/Energy Infrastructure Conference. Additionally, an updated investor presentation will be provided in the events and presentations section of the partnership’s website.

On September 7, 2022, Ms. Shults and Mr. Jenkins will participate in one-on-one and group sessions at the Barclays CEO Energy-Power Conference.

On September 14, 2022, Ms. Shults and Mr. Jenkins will participate in one-on-one and group sessions virtually at the NYSE Energy & Utilities Investor Access Day.

On September 15, 2022, Ms. Shults and Mr. Jenkins will participate in one-on-one and group sessions at the Pickering Energy Partners Technology, Energy, and Mobility Fest. In addition, Ms. Shults will participate in an investor discussion panel.

On September 30, 2022, Ms. Shults and Mr. Jenkins will participate in one-on-one and group sessions virtually at the Wolfe Research Utilities, Midstream, and Clean Energy Conference.

ABOUT WESTERN MIDSTREAM

Western Midstream Partners, LP (“WES”) is a Delaware master limited partnership formed to acquire, own, develop, and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas, and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, NGLs, and crude oil; and gathering and disposing of produced water for its customers. In addition, in its capacity as a processor of natural gas, WES also buys and sells natural gas, NGLs, and condensate on behalf of itself and as an agent for its customers under certain of its contracts.

For more information about Western Midstream Partners, LP and Western Midstream Flash Feed updates, please visit www.westernmidstream.com.

WESTERN MIDSTREAM CONTACTS

Daniel Jenkins
Director, Investor Relations
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832.636.1009

Shelby Keltner
Manager, Investor Relations
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832.636.1009

ST. LOUIS--(BUSINESS WIRE)--Bunge Limited (NYSE: BG) announced that its Board of Directors has declared on August 11, 2022 a quarterly cash dividend of $0.625 per common share. The dividend is payable on December 2, 2022 to shareholders of record on November 18, 2022.

About Bunge

At Bunge (NYSE: BG), our purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world. With more than two centuries of experience, unmatched global scale and deeply rooted relationships, we work to put quality food on the table, increase sustainability where we operate, strengthen global food security, and help communities prosper. As the world’s leader in oilseed processing and a leading producer and supplier of specialty plant-based oils and fats, we value our partnerships with farmers to improve the productivity and environmental efficiency of agriculture across our value chains and to bring quality products from where they’re grown to where they’re consumed. At the same time, we collaborate with our customers to create and reimagine the future of food, developing tailored and innovative solutions to meet evolving dietary needs and trends in every part of the world. Our Company is headquartered in St. Louis, Missouri, and we have almost 23,000 dedicated employees working across approximately 300 facilities located in more than 40 countries.

Website Information

We routinely post important information for investors on our website, www.bunge.com, in the "Investors" section. We may use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

Media Contact:
Bunge News Bureau
Bunge
636-292-3022
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Investor Contact:
Ruth Ann Wisener
Bunge Limited
636-292-3014
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CAMPBELL, Calif.--(BUSINESS WIRE)--ChargePoint Holdings, Inc. (NYSE: CHPT), a leading electric vehicle charging network, today announced it will release financial results for the second quarter ended July 31, 2022, after market close on August 30, 2022. ChargePoint management will host a conference call to review its financial results at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) on the same day.

A live webcast of the conference call will be accessible from the “Events and Presentations” section of ChargePoint’s investor relations website (investors.chargepoint.com) on August 30, 2022. A replay will be available after the conclusion of the webcast and archived for one year. A copy of the press release with the financial results will also be available on ChargePoint’s investor relations website prior to the commencement of the webcast.

About ChargePoint

ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds of thousands of places to charge in North America and Europe. To date, more than 113 million charging sessions have been delivered, with drivers plugging into the ChargePoint network on average every second. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the ChargePoint North American European press offices or Investor Relations.

CHPT-IR

ChargePoint Holdings, Inc.

Press
AJ Gosselin
Director, Corporate Communications
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Investor Relations
Patrick Hamer
VP, Capital Markets and Investor Relations
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SANTA CRUZ, Calif.--(BUSINESS WIRE)--Joby Aviation, Inc. (NYSE: JOBY), a California-based company developing electric vertical take-off and landing (“eVTOL”) aircraft, today announced its financial results for second quarter 2022. Please visit the Joby investor relations website https://ir.jobyaviation.com/ to view the second quarter 2022 shareholder letter. Today the company will host a live audio webcast of its conference call to discuss the results at 2:30 p.m. PT (5:30 p.m. ET).

Additional Webcast Details:

What: Joby Second Quarter 2022 Earnings Webcast

When: Thursday, August 11, 2022

Time: 2:30 p.m. PT (5:30 p.m. ET)

Webcast: Upcoming Events section of the company website (www.jobyaviation.com)

If unable to attend the webcast, to listen by phone, please dial 1-877-407-3982 or 1-201-493-6780. A replay of the webcast will be available on the company website following the event.

About Joby Aviation
Joby Aviation, Inc. (NYSE: JOBY) is a California-based transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient service in cities around the world. To learn more, visit www.jobyaviation.com.

Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of Joby’s aircraft, the growth of its manufacturing capabilities and its regulatory outlook, progress and timing. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially including: Joby’s ability to launch its aerial ridesharing service and the growth of the urban air mobility market generally; Joby’s ability to produce aircraft that meet its performance expectations in the volumes and on the timelines that it projects; the competitive environment in which it operates; its future capital needs; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards relating to its aircraft; its reliance on a third-party suppliers and service partners; uncertainties related to Joby’s estimates of the size of the market for its service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in its Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 28, 2022, and in other reports it files with or furnishes to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While Joby may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change.

Investors:
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+1-831-201-6006

Media:
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HOUSTON--(BUSINESS WIRE)--$PSX #Seminoe--Phillips 66 (NYSE: PSX) announces that its subsidiary, Phillips 66 Carrier, LLC, is launching a binding expansion open season on its Seminoe Pipeline system to solicit shipper commitments for services from Billings, Montana, to Casper, Wyoming. The expansion open season will provide an opportunity for interested shippers to secure long-term refined product transportation with Seminoe Pipeline under binding transportation services agreements.

The expansion includes new takeaway capacity of 5,800 barrels per day on Seminoe Pipeline with origination stations in Billings to destination at Casper. The higher capacity is expected to be available during the second quarter of 2023.

The expansion open season will commence at 8 a.m. CDT on August 12, 2022. Prior to participating in the open season, interested parties must execute a confidentiality agreement to govern the receipt of the open season documentation. For a form of confidentiality agreement and additional information regarding the expansion of Seminoe Pipeline, please contact Tarek Saad at This email address is being protected from spambots. You need JavaScript enabled to view it..

About Phillips 66

Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.

Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Bernardo Fallas (media)
855-841-2368
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Positive Adjusted EBITDA as EaaS Business Continues to Grow

Revenues of $18.7M, up 18% Sequentially from $15.8M

LOS ANGELES--(BUSINESS WIRE)--$CGRN #AdjustedPositiveEBITDA--Capstone Green Energy Corporation (NASDAQ: CGRN) announced its financial results for the first quarter ended June 30, 2022, posting positive Adjusted EBITDA as the Company continues to deliver on its Energy-as-a-Service (EaaS) business plan.

First Quarter Fiscal 2023 Highlights:

• Revenues for the first quarter ending June 30, 2022 were $18.7 million, up 18% from $15.8 million in revenue during the fourth quarter ended March 31, 2022, and up 16% from revenues of $16.1 million in the year-ago June quarter.

• Gross margins for first quarter ending June 30, 2022 were 25% compared to 6% in the fourth quarter ended March 31, 2022, primarily due to the growth of the EaaS long-term rental services and May 1, 2022 product and service price increases.

• Net loss of $2.1 million for the first quarter ending June 30, 2022, improved from a net loss of $6.9 million in the previous quarter ended March 31, 2022 and from a net loss of $2.2 million in the year-ago June quarter.

• Positive Adjusted EBITDA of $0.4 million for the first quarter ending June 30, 2022, compared to an Adjusted EBITDA of negative $4.7 million in the fourth quarter ended March 31, 2022, and an Adjusted EBITDA of negative $2.3 million in the year-ago June quarter.

• Total EaaS long-term rental units under contract on June 30, 2022 were 34.4MW versus 10.1MW on June 30, 2021, representing 241% growth over the year-ago quarter.

• Gross product bookings for the first quarter ending June 30, 2022, were $12.4 million, down slightly from $12.7 million in the previous quarter ended March 31, 2022.

• The product Book-to-Bill Ratio dropped to 1.4:1 in first quarter ending June 30, 2022, from 1.7:1 as a result of lower product shipments in the previous quarter ended March 31, 2022. Ending product backlog on June 30, 2022 was $24.8 million compared to $25.3 million on March 31, 2022.

• Total cash and cash equivalents were $16.9 million at June 30, 2022, down from $22.6 million on March 31, 2022. Cash balances were impacted during the quarter from continued capital expenditures supporting the growth of the EaaS rental business, changes in working capital, and interest expense on the Goldman Sachs 3-year term note.

"The top-line revenue growth in our first quarter is certainly encouraging, as are the positive Adjusted EBITDA results, but it is our EaaS business growth that is most exciting as it drives higher margins, generates more constant and predictable revenue and enables us to leverage a more streamlined staffing model relative to a traditional industrial manufacturing company. Furthermore, the solution is attractive to our customers across a variety of industries as it helps them to directly manage capital costs and meet environmental impact targets," said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy.

"Capstone’s key goals this new fiscal year are growing revenues and achieving positive Adjusted EBITDA for the full year by accelerating the growth of our EaaS business and boosting balance sheet liquidity beyond the benefits received from last year’s cost reduction efforts. We expect the combination of our new Capstone direct sales organization and expanding our distribution network globally will be key tools in driving additional growth. Our EaaS strategy and technology are being proven in the field every day and we will be pushing hard to replicate our success with more customers and across more geographies," concluded Mr. Jamison.

About Capstone Green Energy

Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.

To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22 it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it..

For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding growth and liquidity expectations and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and departures and other changes in management and other key employees. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason.

To supplement the company’s unaudited financial data presented on a generally accepted accounting principles (GAAP) basis, management has presented Adjusted EBITDA, a non-GAAP financial measure. This non-GAAP financial measure is among the indicators management uses as a basis for evaluating the company’s financial performance as well as for forecasting future periods. Management establishes performance targets, annual budgets and makes operating decisions based in part upon this metric. Accordingly, disclosure of this non-GAAP financial measure provides investors with the same information that management uses to understand the company’s economic performance year-over-year.

EBITDA is defined as net income before interest, provision for income taxes, and depreciation and amortization expense. Adjusted EBITDA is defined as EBITDA before gain on debt extinguishment, additional PPP loan forgiveness and stock-based compensation and other expense. Gain on debt extinguishment and additional PPP loan forgiveness relates to the Paycheck Protection Program loan forgiveness. Stock-based compensation and other expense includes expense related to stock issued to employees, directors, vendors, and for extraordinary, non-recurring expenses.

Adjusted EBITDA is not a measure of the company’s liquidity or financial performance under GAAP and should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP, or as an alternative to cash flows from operating activities as a measure of its liquidity.

While management believes that the non-GAAP financial measure provides useful supplemental information to investors, there are limitations associated with the use of this measure. The measures are not prepared in accordance with GAAP and may not be directly comparable to similarly titled measures of other companies due to potential differences in the exact method of calculation. Management compensates for these limitations by relying primarily on the company’s GAAP results and by using Adjusted EBITDA only supplementally and by reviewing the reconciliations of the non-GAAP financial measure to its most comparable GAAP financial measure.

Non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles in the United States. The company’s non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the company’s consolidated financial statements prepared in accordance with GAAP.

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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MUNICH--(BUSINESS WIRE)--#airtowater--Today, Aquahara Technology GmbH from Gilching near Munich, Germany, announced the initial test results of its pilot system using a liquid absorber and solar thermal energy to extract drinking water from air humidity near Marrakech in Morocco. With temperatures around 40 °C and air humidity as low as 25 % during the day, the system can produce 200 liters (50 gallons) of water per day, using 100 square meters (around 1000 square ft) of solar collectors. This means an Aquahara system offers an alternative water supply for millions of house owners who face the challenge of private water wells running dry.

Aquahara points out that almost all “water-from-air” devices on the market today are just classical dehumidifiers that cool and condense the air, wasting a lot of electricity. If the electricity is taken from the grid, which is still mostly fossil fuel based, such devices are very harmful to the environment: they effectively burn 1 liter of fossil fuel to produce 5 liters of water. If they are operated with solar panels, their low efficiency requires 200 square meters of solar panels (around 2000 square feet), double the area needed for an Aquahara system. If air humidity is below 40 %, they practically stop working, making them useless in dry climate regions.

Aquahara’s engineers have developed a system with higher efficiency. They use water with a very high concentration of a special salt, potassium acetate, a food additive. The salt ions attract water molecules out of the air. When the air is very dry, they run the absorption process at night, when it is slightly cooler, and store the water in the salt solution tanks. During the day, the system uses solar thermal energy to run the salt solution through a distillation process to extract pure water.

With its next-generation system, Aquahara hopes to reach water costs of 40 USD per 1000 gallons, still much higher than seawater desalination, but cheaper than any competitors and cheaper than water truck delivery in regions that cannot be served by seawater desalination plants.

About Aquahara Technology GmbH

Aquahara Technology GmbH was founded in 2017. With its patent-protected solar atmospheric water generator using a liquid desiccant, it is challenging major players like Source Global PBC, backed by BlackRock and Breakthrough Energy Ventures, who are using solid instead of liquid desiccants. Liquids have the intrinsic technical advantages of better heat transfer and heat recovery, which means they will be essential in further increasing the efficiency and reducing the cost of solar atmospheric water generators.

For more information, visit https://www.aquahara.com

Aquahara Technology GmbH
Philippe Verplancke
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Tel. +49 170 9466402

Agreement between ESS and Energy Storage Industries Asia Pacific to deliver grid-scale iron flow batteries will accelerate the deployment of long-duration energy storage and catalyze the clean energy transition in Australia, New Zealand and Oceania.

WILSONVILLE, Ore.--(BUSINESS WIRE)--ESS Inc. (NYSE: GWH) today announced a strategic partnership with Energy Storage Industries Asia Pacific (“ESI”) to distribute and manufacture iron flow batteries utilizing ESS technology in Australia, New Zealand and Oceania to meet rapidly growing demand for long-duration energy storage in the region.

Under the terms of the agreement, ESS will initially supply 70 complete 75kW / 500kWh Energy Warehouse (EW) systems to ESI in 2022 and 2023. Concurrently, ESI will construct a manufacturing facility in Queensland, Australia, equipped to conduct final assembly of ESS systems from 2024 onward. Systems manufactured at the Queensland facility will utilize “core component kits” supplied by ESS including battery modules, proton pumps, and other unique components. Core component kits will continue to be manufactured in Wilsonville, Ore. The ESI manufacturing facility is designed to reach a production capacity of up to 400 MW of energy storage annually.

“We look forward to deploying ESS technology in Australia and the region to meet the needs of energy customers and build a sustainable, resilient energy future,” said Eric Dresselhuys, CEO of ESS. “ESI brings a wealth of experience and expertise in clean energy and energy storage and a keen understanding of the Australian energy market. We look forward to working with them to advance our shared mission to accelerate the clean energy transition by deploying long-duration energy storage solutions in the region.”

“ESS is an ideal technology partner to meet the extraordinary demand for long-duration energy storage in Australia and the region,” said Stuart Parry, Managing Director of ESI. “Safe and non-toxic ESS iron flow batteries are perfect in Australia’s harsh environment and the ability to locally source electrolyte provides insurance against supply chain risks and price escalation. The transition to clean energy requires new long-duration storage solutions and we look forward to working with ESS to meet the needs of an increasingly renewable energy grid.”

ESS iron flow technology provides cost-effective long-duration energy storage and is ideal for applications that require from 4-12 hours of flexible energy capacity. ESS systems provide resilient, sustainable energy storage well-suited for multiple use cases including utility-scale renewable energy installations, remote solar + storage microgrids, grid load-shifting and peak shaving, and other ancillary grid services. ESS technology is safe, non-toxic and has a 25-year lifespan without capacity fade. Demand for long-duration energy storage systems is expected to grow rapidly in Australia; New South Wales announced the procurement of 2 GW of LDES in its recent Electricity Infrastructure Roadmap.

ESS anticipates that Energy Warehouse deliveries to ESI will begin in 2022.

About ESS Inc.

At ESS (NYSE: GWH), our mission is to accelerate global decarbonization by providing safe, sustainable, long-duration energy storage that powers people, communities and businesses with clean, renewable energy anytime and anywhere it’s needed. As more renewable energy is added to the grid, long-duration energy storage is essential to providing the reliability and resiliency we need when the sun is not shining and the wind is not blowing.

Our technology uses earth-abundant iron, salt and water to deliver environmentally safe solutions capable of providing up to 12 hours of flexible energy capacity for commercial and utility-scale energy storage applications. Established in 2011, ESS Inc. enables project developers, independent power producers, utilities and other large energy users to deploy reliable, sustainable long-duration energy storage solutions. For more information visit www.essinc.com.

About Energy Storage Industries Asia Pacific

Energy Storage Industries Asia Pacific (ESI) is a Queensland-based, 100 percent Australian-owned company that provides reliable and environmentally friendly renewable energy storage solutions that are essential for Australia’s transition to a renewable energy future.

We are investing up to $70 million in Maryborough to manufacture and distribute low-cost, long-life iron flow batteries that allow large-scale energy storage for wholesale electricity generators, energy retailers, and commercial and industrial (C&I) customers. For more information visit https://esiap.com.au.

Investors:

Erik Bylin
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Media:

ESS:
Morgan Pitts
+1 503.568.0755
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ESI:
Three Plus
+61 7 3167 1200

Upcoming ISG Provider Lens™ report will evaluate providers helping companies use digital technologies to improve operations, prepare for future energy needs

STAMFORD, Conn.--(BUSINESS WIRE)--$III #CapitalProjectsManagement--Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, has launched a research study examining service providers that are meeting the changing needs of oil and gas companies in the digital age.

The study results will be published in a comprehensive ISG Provider Lens™ report, called Oil and Gas Industry — Services and Solutions, scheduled to be released in January 2023. The report will cover companies offering services – including asset management, capital projects management, cloud computing and energy transition services – that help oil and gas companies innovate and improve their operations.

Oil and gas company buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.

The oil and gas industry is going through major changes, including rising demand, declining inventory and significant disruptions, such as the one resulting from the Ukraine crisis. While these forces are currently driving prices up, companies face growing challenges around price volatility, worker safety, remote asset monitoring and data access. At the same time, the industry is beginning to focus on making the transition to low-carbon resources.

“The changes hitting the oil and gas sector right now are making efficient operations and digital innovation more important than ever,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Companies need new capabilities like cloud computing, AI, automation and operational security, and service providers are making this possible.”

ISG has distributed surveys to more than 100 oil and gas services and solution providers. Working in collaboration with ISG’s global advisors, the research team will produce five quadrants representing the services and solutions the typical oil and gas enterprise is buying, based on ISG’s experience working with its clients. The five quadrants are:

• Enterprise Asset Management, evaluating providers of EAM services and solutions that help oil and gas companies increase asset performance, extend the useful life of assets and reduce operational costs.

• Next-Gen IT/OT Services, assessing providers of IT managed services to the oil and gas industry, including application development and maintenance, cybersecurity and IoT-based solutions, that support the convergence of IT and OT and help clients operate efficiently and comply with regulations.

• Capital Projects Management (CPM), covering providers that offer oil and gas CPM services that allow clients to design and carry out complex, capital-intensive projects on time and within budget.

• Data Management and Cloud Computing, evaluating providers of data handling and cloud services for oil and gas companies, enabling the transition from legacy systems and the centralization of data and processes in the cloud.

• Energy Transition Services, assessing providers that offer a range of energy transition services that allow oil and gas companies to meet their net-zero carbon transition targets and develop new business models.

Geographically focused reports from the study will cover the global oil and gas technology market and examine products and services available in North America, the U.K. and the Nordics. ISG analysts Swadhin Pradhan, Harish B, Mohd Aves Malik and Hemant Kumar Chandak will serve as authors of the reports.

A list of identified providers and vendors and further details on the study are available in this digital brochure. Companies not listed as oil and gas service and solution providers can This email address is being protected from spambots. You need JavaScript enabled to view it. and ask to be included in the study.

All 2022 ISG Provider Lens™ evaluations now feature new and expanded customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG’s continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to register here to receive a personalized survey URL. Participants will receive a copy of this report in return for their feedback.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

Will Thoretz, ISG
+1 203 517 3119
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Julianna Sheridan, Matter Communications for ISG
+1 978-518-4520
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Walton College Renames Department after J.B. Hunt Transport

LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services Inc., one of the largest supply chain solutions providers in North America, and the University of Arkansas announced the Sam M. Walton College of Business program for studying supply chain, ranked number one by Gartner, has officially been renamed the J.B. Hunt Transport Department of Supply Chain Management. Leadership from both organizations were at J.B. Hunt’s corporate campus today to discuss how their efforts are making Northwest Arkansas an epicenter for developing tomorrow’s industry and its leaders.

"J.B. Hunt and the University of Arkansas are shaping the future of supply chain, not just in Northwest Arkansas, but across the country," said Shelley Simpson, president of J.B. Hunt. "Together, we are preparing future leaders who will grow with the industry to meet evolving supply chain challenges. This will help us achieve our mission of creating the most efficient transportation network in North America, and ultimately the world."

To extend support of their continued collaboration, J.B. Hunt also announced a new $1.5 million commitment to Walton College that will help enhance the development of the J.B. Hunt Transport Department of Supply Chain Management. Since 2017, J.B. Hunt has gifted $7 million to the University of Arkansas to advance innovative, supply chain-focused initiatives, with $5 million of that dedicated to enabling Walton College’s top-ranked supply chain program over the past two years. J.B. Hunt and the Walton College have jumpstarted numerous initiatives to study factors such as inclusion, sustainability, thought leadership, education, and innovation. With a long-term vision of shaping the future of integrated supply chain management, their efforts focus on ensuring the industry has a modern workforce with professionals that can grow with the industry to meet evolving supply chain challenges, blending logistics expertise with advancing technology.

“Walton College aims to be the leader in supply chain management education, research and career readiness,” said Matt Waller, dean of the Walton College and holder of the Sam M. Walton Leadership Chair in Business. “A gift of this magnitude from one of the global leaders in logistics can expand our reach to talented students, expert faculty and industry thought leaders. Together, we can advance the industry’s positive growth and practice.”

Waller presented Simpson with a plaque recognizing the department’s new name and the college’s appreciation for J.B. Hunt. The department named after the transportation industry leader will house the undergraduate integrated supply chain management program recently ranked number one in North America by Gartner. The department’s graduate program ranked second.

J.B. Hunt and Walton College have worked closely together since the department was established, beginning with the J.B. Hunt Supply Chain University in 2014. The program helped employees gain a better understanding of supply chain beyond transportation and logistics. In 2017 the two, along with the University of Arkansas College of Engineering created the J.B. Hunt Innovation Center of Excellence, made possible through a $2.75 million grant from J.B. Hunt. The combined effort brought researchers and students together with J.B. Hunt employees to develop solutions through innovative design and technology. In 2020, the two announced a $2.25 million collaboration to increase awareness of inclusion and diversity in transportation and logistics, and last year, J.B. Hunt created a $1 million endowed scholarship fund to encourage students to pursue supply chain careers and contribute to the college’s diverse educational environment.

About J.B. Hunt

J.B. Hunt Transport Services, Inc., an S&P 500 company, provides innovative supply chain solutions for a variety of customers throughout North America. Utilizing an integrated, multimodal approach, the company applies technology-driven methods to create the best solution for each customer, adding efficiency, flexibility, and value to their operations. J.B. Hunt services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, last mile, and more. J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average. J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT. For more information, visit www.jbhunt.com.

Brittnee Davie
Vice President - Marketing
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NEW YORK--(BUSINESS WIRE)--Goldman Sachs MLP and Energy Renaissance Fund (the “Fund”) (NYSE: GER) is announcing its quarterly distribution of $0.175 per common share. The distribution is payable on the date noted below.

The distribution schedule is as follows:

It is currently anticipated that a portion of this distribution will be treated for tax purposes as a return of capital, however, the final characterization of such distribution will be made in early 2023 when the Fund can determine its earnings and profits for the full year. The final tax status of the distribution may differ substantially from this preliminary information.

In addition, portfolio holdings as of June 30, 2022, as well as additional information regarding the Fund, can be accessed through the Goldman Sachs Asset Management Closed-End Fund landing page at www.GSAMFUNDS.com/cef.

Goldman Sachs MLP and Energy Renaissance Fund

Goldman Sachs MLP and Energy Renaissance Fund is a non-diversified, closed-end management investment company managed by Goldman Sachs Asset Management’s Energy & Infrastructure Team, which is among the industry’s largest MLP investment groups.

The Fund began trading on the NYSE on September 26, 2014. The reorganization of the Goldman Sachs MLP Income Opportunities Fund with and into the Fund was completed on September 28, 2020. The investment objective, strategies and restrictions of the Fund remain unchanged. The Fund seeks a high level of total return with an emphasis on current distributions to shareholders. The Fund invests primarily in master limited partnerships (“MLPs”) and other energy investments. The Fund currently expects to concentrate its investments in the energy sector, with an emphasis on midstream MLP investments. The Fund invests across the energy value chain, including upstream, midstream and downstream investments.

About Goldman Sachs Asset Management, L.P.

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market – overseeing $2.27 trillion in assets under supervision worldwide as of June 30, 2022¹. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Follow us on LinkedIn.

Disclosures

Shares of closed-end investment companies frequently trade at a discount from their net asset value (“NAV”), which may increase investors’ risk of loss. At the time of sale, an investor’s shares may have a market price that is above or below NAV, and may be worth more or less than the original investment. There is no assurance that the Fund will meet its investment objective. Past performance does not guarantee future results. Investments in securities of MLPs involve risks that differ from investments in common stock, including among others risks related to limited control and limited rights to vote on matters affecting MLPs, potential conflicts of interest risk, cash flow risks, dilution risks and trading risks.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security. The Fund has completed its initial public offering. Investors should consider their investment goals, time horizons and risk tolerance before investing in the Fund. An investment in the Fund is not appropriate for all investors, and the Fund is not intended to be a complete investment program. Investors should carefully review and consider the Fund’s investment objective, risks, charges and expenses before investing.

¹Assets Under Supervision (AUS) includes assets under management and other client assets for which Goldman Sachs does not have full discretion. AUS figure as of June 30, 2022.

Compliance Code: 287520-OTU

Date of First Use: August 12, 2022

Media Contact:
Avery Reed
Tel: 212-357-0125

Investor Contact:
Charles Sturges
Tel: 212-902-7996

HOUSTON--(BUSINESS WIRE)--Natural Resource Partners L.P. (NYSE: NRP) announced today it successfully completed an amendment and five-year extension of NRP Operating’s revolving credit facility. Lender commitments are $102.5 million, and additional commitments can be added to expand the facility to $132.5 million.

“This new five-year credit facility will provide significant liquidity and allow us to accelerate the repayment of our 2025 Senior Notes and Preferred Units,” said Craig Nunez, NRP’s president and chief operating officer.

Company Profile

Natural Resource Partners L.P., a master limited partnership headquartered in Houston, TX, is a diversified natural resource company that owns, manages and leases a diversified portfolio of properties in the United States including coal, industrial minerals and other natural resources, as well as rights to conduct carbon sequestration and renewable energy activities. NRP also owns an equity investment in Sisecam Wyoming LLC, one of the world’s lowest-cost producers of soda ash.

Further information about NRP is available on the partnership’s website at http://www.nrplp.com.

NRP Contact
Tiffany Sammis, Investor Relations, 713.751.7515, This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) announced today it will host investor meetings at the following conferences in August 2022:

• Citi One-on-One Midstream / Energy Infrastructure Conference, Tuesday, August 16, 2022 and Wednesday, August 17, 2022 in Las Vegas, NV; and
• BofA Securities August Energy Summit, Tuesday, August 23, 2022, in Houston.

The latest investor deck that will be used to facilitate the investor meetings will be posted to Enterprise’s website Tuesday morning, August 16. The slides can be accessed under the Investors tab on the Enterprise website.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key United States inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.

Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations, (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.

Performance Reflects Delayed Awards, Non-recurring Margin Pressure

ATLANTA--(BUSINESS WIRE)--Williams Industrial Services Group Inc. (NYSE American: WLMS) (“Williams” or the “Company”), an energy and industrial infrastructure services company, today reported its financial results for the fiscal second quarter ended June 30, 2022.

Recent Highlights

• Williams posted revenue of $56.1 million in the second quarter of 2022 compared with $91.6 million in the prior-year period
• The Company reported a net loss from continuing operations of $5.3 million, or $(0.20) per diluted share, in the second quarter of 2022 compared with net income from continuing operations of $2.6 million, or $0.10 per diluted share, in the second quarter of 2021
• Adjusted EBITDA¹ was negative $3.2 million for the second quarter of 2022 compared with $4.9 million in the prior-year period
• As of June 30, 2022 the Company’s backlog was $234.3 million compared to $257.0 million as of March 31, 2022; approximately $144.6 million of the June 30, 2022 backlog is expected to be converted to revenue over the following twelve months
• As previously announced, the Company has updated its guidance to reflect delayed awards and certain non-recurring costs

“Although Williams’ future remains promising, we were disappointed in how the second quarter played out, causing us to reduce guidance on August 4, 2022,” said Tracy Pagliara, President and CEO of Williams. “Our second quarter revenues were lower than expected as nuclear work was pushed out to the second half of 2022. In addition, several non-recurring items, including start-up costs in our transmission and distribution business, margin pressure from certain Florida water projects, and litigation expenses relating to a competitor and former employee, also negatively impacted bottom line results.

“Looking ahead, with bid activity accelerating, we’re optimistic about revenue and backlog growth and better operating performance in the quarters to come. We remain focused on new business development, expense controls and working capital management. We’re confident in our ability to position Williams for expansion and increased shareholder returns going forward.”

Second Quarter 2022 Financial Results Compared to Second Quarter 2021

Revenue in the second quarter was $56.1 million compared with $91.6 million in the second quarter of 2021, largely reflecting reduced nuclear business – due to the timing of a nuclear outage which occurs every other year accounting for $17.6 million of the decline – fewer decommissioning contracts accounting for $11.5 million of decline, and the exit of the Canadian nuclear market accounting for a $9.9 million reduction in revenue. Gross profit was $2.3 million, or 4.1% of revenue, compared with $9.4 million, or 10.2% of revenue, in the prior-year period, with the lower margin primarily due to changes in project mix, including the ongoing impact of certain contracts in Florida, as previously announced, and start-up costs tied to the Company’s further expansion into the energy delivery market. Excluding the aforementioned gross margin compression associated with Williams’ entry into the transmission and distribution business of $1.6 million and the negative gross margin impact of $1.2 million from the Company’s Florida water projects, adjusted gross margin would have been 10.0% of revenue.

Operating expenses were $6.7 million in the 2022 second quarter, inclusive of $0.3 million in professional fees relating to an ongoing legal matter, compared with $6.6 million in the prior-year period. The Company reported an operating loss of $4.5 million for the second quarter of 2022 versus operating profit of $2.7 million in the same period of 2021. Interest expense was $1.3 million in the second quarter of 2022 versus $1.2 million in 2021.

The Company reported a net loss from continuing operations of $5.3 million, or $(0.20) per diluted share, in the second quarter of 2022 compared with net income from continuing operations of $2.6 million, or $0.10 per diluted share, in the second quarter of 2021.

Balance Sheet

The Company’s total liquidity (the sum of unrestricted cash and availability under the Company’s revolving credit facility) was $6.5 million as of June 30, 2022 versus $27.7 million at the beginning of 2022. As of June 30, 2022, the Company had $0.7 million of unrestricted cash and cash equivalents, $0.5 million of restricted cash, and $41.4 million of bank debt compared with $2.5 million of unrestricted cash and cash equivalents, $0.5 million of restricted cash, and $32.1 million of bank debt as of December 31, 2021.

Backlog

Total backlog as of June 30, 2022 was $234.3 million compared with $257.0 million on March 31, 2022. During the second quarter of 2022 the Company recognized revenue of $56.1 million, booked new awards of $17.2 million, and saw net adjustments and cancellations of $16.2 million.

Williams estimates that approximately $144.6 million of its current backlog will be converted to revenue within the next twelve months compared with $139.0 million of backlog as of March 31, 2022 that the Company anticipated would be converted to revenue over the succeeding twelve-month period. Additionally, the Company saw an increase in its pipeline to approximately $400 million as of June 30, 2022 compared with approximately $360 million as of March 31, 2022.

Outlook

The Company adjusted guidance on August 4, 2022 from that previously provided January 28, 2022 for the current fiscal year, as follows:

Webcast and Teleconference

The Company will host a conference call tomorrow, August 12, 2022, at 10:00 a.m. Eastern time. A webcast of the call and an accompanying slide presentation will be available at www.wisgrp.com. To access the conference call by telephone, listeners should dial 201-493-6780.

An audio replay of the call will be available later that day by dialing 412-317-6671 and entering conference ID number 13731982; alternatively, a webcast replay can be found at http://ir.wisgrp.com/, where a transcript will be posted once available.

About Williams

Williams Industrial Services Group has been safely helping plant owners and operators enhance asset value for more than 50 years. The Company is a leading provider of infrastructure related services to blue-chip customers in energy and industrial end markets, including a broad range of construction maintenance, modification, and support services. Williams’ mission is to be the preferred provider of construction, maintenance, and specialty services through commitment to superior safety performance, focus on innovation, and dedication to delivering unsurpassed value to its customers.

Additional information about Williams can be found on its website: www.wisgrp.com.

Forward-looking Statement Disclaimer

This press release contains “forward-looking statements” within the meaning of the term set forth in the Private Securities Litigation Reform Act of 1995. The forward-looking statements include statements or expectations regarding the Company’s ability to perform in accordance with guidance, build and diversify its backlog and convert backlog to revenue, realize opportunities, including receiving contract awards on outstanding bids and successfully pursuing future opportunities, benefit from potential growth in the Company’s end markets, including from increased infrastructure spending by the U.S. federal government, and successfully achieve its growth, strategic and business development initiatives, including decreasing the Company’s outstanding indebtedness, increasing shareholder returns, and managing working capital, future demand for the Company’s services, and expectations regarding future revenues, cash flow, and other related matters. These statements reflect the Company’s current views of future events and financial performance and are subject to a number of risks and uncertainties, including the Company’s level of indebtedness and ability to make payments on, and satisfy the financial and other covenants contained in, its amended debt facilities, as well as its ability to engage in certain transactions and activities due to limitations and covenants contained in such facilities; its ability to generate sufficient cash resources to continue funding operations, including investments in working capital required to support growth-related commitments that it makes to customers, and the possibility that it may be unable to obtain any additional funding as needed or incur losses from operations in the future; exposure to market risks from changes in interest rates; the Company’s ability to obtain adequate surety bonding and letters of credit; the Company’s ability to maintain effective internal control over financial reporting and disclosure controls and procedures; the Company’s ability to attract and retain qualified personnel, skilled workers, and key officers; failure to successfully implement or realize its business strategies, plans and objectives of management, and liquidity, operating and growth initiatives and opportunities, including any expansion into new markets and its ability to identify potential candidates for, and consummate, acquisition, disposition, or investment transactions; the loss of one or more of its significant customers; its competitive position; market outlook and trends in the Company’s industry, including the possibility of reduced investment in, or increased regulation of, nuclear power plants, declines in public infrastructure construction, and reductions in government funding; costs exceeding estimates the Company uses to set fixed-price contracts; harm to the Company’s reputation or profitability due to, among other things, internal operational issues, poor subcontractor performances or subcontractor insolvency; potential insolvency or financial distress of third parties, including customers and suppliers; the Company’s contract backlog and related amounts to be recognized as revenue; its ability to maintain its safety record, the risks of potential liability and adequacy of insurance; adverse changes in the Company’s relationships with suppliers, vendors, and subcontractors, including increases in cost, disruption of supply or shortage of labor, freight, equipment or supplies, including as a result of the COVID-19 pandemic; compliance with environmental, health, safety and other related laws and regulations, including those related to climate change; limitations or modifications to indemnification regulations of the U.S.; the Company’s expected financial condition, future cash flows, results of operations and future capital and other expenditures; the impact of unstable market and economic conditions on our business, financial condition and stock price, including inflationary cost pressures, supply chain disruptions and constraints, labor shortages, the effects of the Ukraine-Russia conflict and ongoing impact of COVID-19, and a possible recession; our ability to meet publicly announced guidance or other expectations about our business, key metrics and future operating results; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, and cash flows, including global supply chain disruptions and the potential for additional COVID-19 cases to occur at the Company’s active or future job sites, which potentially could impact cost and labor availability; information technology vulnerabilities and cyberattacks on the Company’s networks; the Company’s failure to comply with applicable laws and regulations, including, but not limited to, those relating to privacy and anti-bribery; the Company’s ability to successfully implement its new enterprise resource planning (ERP) system; the Company’s participation in multiemployer pension plans; the impact of any disruptions resulting from the expiration of collective bargaining agreements; the impact of natural disasters, which may worsen or increase due to the effects of climate change, and other severe catastrophic events (such as the ongoing COVID-19 pandemic); the impact of corporate citizenship and environmental, social and governance matters; the impact of changes in tax regulations and laws, including future income tax payments and utilization of net operating loss and foreign tax credit carryforwards; volatility of the market price for the Company’s common stock; the Company’s ability to maintain its stock exchange listing; the effects of anti-takeover provisions in the Company’s organizational documents and Delaware law; the impact of future offerings or sales of the Company’s common stock on the market price of such stock; expected outcomes of legal or regulatory proceedings (whether claims made by or against the Company) and their anticipated effects on the Company’s results of operations; and any other statements regarding future growth, future cash needs, future operations, business plans and future financial results.

Other important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including the section of the Annual Report on Form 10-K for its 2021 fiscal year titled “Risk Factors.” Any forward-looking statement speaks only as of the date of this press release. Except as may be required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and you are cautioned not to rely upon them unduly.

Financial Tables Follow

Chris Witty
Darrow Associates
646-345-0998
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DUBLIN--(BUSINESS WIRE)--The "Smart Ports Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global smart ports market is expected to grow from $1.43 billion in 2021 to $1.78 billion in 2022 at a compound annual growth rate (CAGR) of 24.3%. The smart ports market is expected to grow to $4.37 billion in 2026 at a CAGR of 25.1%.

Asia Pacific was the largest region in the smart ports market in 2021 and is also expected to be the fastest-growing region in the forecast period. The regions covered in smart ports market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The encouragement and participation from governments all over the world in the form of initiatives will propel the growth of the smart port market. Growing concerns about climate change have pushed governments across the world to adopt sustainable development projects to reduce carbon footprint and increase efficiency.

To implement digitization, governments are encouraging the adoption of technologies such as big data, artificial intelligence, and the Internet of Things (IoT) in the ports sector. For example, the Port of Hamburg in Germany adopted the Internet of Things and other smart port technologies by using data sources to feed to a single platform to increase logistics efficiencies. Therefore, the increasing number of government initiatives drives the smart ports market.

The adoption of smart technologies is a key trend gaining popularity in the smart port market. The implementation of technologies such as the Internet of Things (IoT), artificial intelligence (AI), blockchain, and big data has changed the way the smart ports operate in comparison to the traditional ports. For example, in April 2021, Abu Dhabi Ports introduced a new digital service to smoothen the management of Abu Dhabi's slipways, which are ramps for moving boats and other watercraft to and from the water to ease congestion at peak times. Thus, the adoption of smart technologies has made the end-to-end process of port management efficient.

Scope

Markets Covered:

1) By Port Type: Seaport; Inland Port

2) By Element: Terminal Automation And Cargo Handling; Port Community System (PCS); Traffic Management System (TMS); Smart Port Infrastructure; Smart Safety And Security

3) By Technology: Internet Of things (IoT); Blockchain; Process Automation; Artificial Intelligence

Key Topics Covered:

1. Executive Summary

2. Smart Ports Market Characteristics

3. Smart Ports Market Trends And Strategies

4. Impact Of COVID-19 On Smart Ports

5. Smart Ports Market Size And Growth

6. Smart Ports Market Segmentation

7. Smart Ports Market Regional And Country Analysis

8. Asia-Pacific Smart Ports Market

9. China Smart Ports Market

10. India Smart Ports Market

11. Japan Smart Ports Market

12. Australia Smart Ports Market

13. Indonesia Smart Ports Market

14. South Korea Smart Ports Market

15. Western Europe Smart Ports Market

16. UK Smart Ports Market

17. Germany Smart Ports Market

18. France Smart Ports Market

19. Eastern Europe Smart Ports Market

20. Russia Smart Ports Market

21. North America Smart Ports Market

22. USA Smart Ports Market

23. South America Smart Ports Market

24. Brazil Smart Ports Market

25. Middle East Smart Ports Market

26. Africa Smart Ports Market

27. Smart Ports Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Smart Ports Market

29. Smart Ports Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned

• Wipro Limited
• IBM Corporation
• Accenture
• ABB
• Ramboll Group A/S
• Abu Dhabi Ports
• Awake.AI
• PORT OF ROTTERDAM
• Royal Haskoning
• Trelleborg AB
• Ikusi Redes de Telecomunicaciones S.L.
• Navis
• China Merchants Port Holdings Company
• GENERAL ELECTRIC
• Siemens

For more information about this report visit https://www.researchandmarkets.com/r/9ehv8m

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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• Second Quarter Revenue increased 83% Quarter-over-Quarter and 121% Year-over-Year to $15.3 million
• Media Revenue increased 83% Quarter-over-Quarter and 73% Year-over-Year to $11.2 million
• Volta added a record 372 charging stalls in the quarter
• Volta’s installed base of Total Installed Charging Stalls was 2,920 as of June 30, 2022, up 15% Quarter-over-Quarter and up 48% Year-over-Year
• Announced EV charging blueprint for urban markets starting with Hoboken, New Jersey; Secured a dual charging and media agreement with The Kroger Co.; Added new media brand partners Michelin, Genesis, United Airlines, Lyft, Bank of America, and Hewlett-Packard to the platform; Additional campaigns for Kia, General Mills, ZOOM, Jeep, Coca-Cola, and Apple

SAN FRANCISCO--(BUSINESS WIRE)--Volta Inc. (NYSE: VLTA, VLTA WS) (“Volta” or the “Company”), an industry-leading electric vehicle (“EV”) charging and media company, today announced financial results for its second quarter ended June 30, 2022.

“Volta had a record quarter, and these results demonstrate the power of our differentiated business model,” said Vince Cubbage, Interim CEO. “By building not just a network of chargers, but a dual energy and digital advertising platform, we believe Volta can scale revenue even faster than the EV adoption curve – offering the quickest path to profitability and the highest revenue per station. I’ve been impressed by the exceptional work being done across Volta’s business and see tremendous opportunity ahead as the Company moves through its next stage of growth.”

Recent Key Company Highlights in 2022

Public Policy | City of Hoboken: Volta plans to install a mix of 25 DCFC and L2 public EV charging stalls for the City’s residents, annual visitors, and commuters over the next 18 months. The collaboration is a model for how EV charging infrastructure can be efficiently deployed within densely populated urban areas to maximize economic, health, and climate benefits and should position the Company well for Infrastructure Investment and Jobs Act (IIJA) and National Electric Vehicle Infrastructure (NEVI) planning funds. Through its work with Hoboken, Volta also expects to grow its media impressions within the NY, NY Designated Market Area by nearly 20%, making the Volta Media™ Network even more attractive to advertisers.

Collaboration with Leading Shopper Intelligence Platform Catalina: By tapping into Catalina’s measurement services, Volta can directly determine incremental sales at the store level for retailers and advertisers that run campaigns on the Volta Media™ Network. The ability to report at this level signifies Volta as a digital-first, results driven media network and is expected to provide Volta with the ability to unlock more significant advertising deals.

Coca-Cola^®: Coca-Cola and Volta Media completed a case study with Quotient, a leading digital media and promotions technology company, to prove out Return on Ad Spend (ROAS). The brands featured in the Volta campaign saw $2.5 million in attributable sales and a ROAS 56% higher than the average Digital Out-Of-Home ADUSA food and beverage campaign, demonstrating the measurable impact Volta campaigns can have on The Coca-Cola Company and other Consumer Packaged Goods (CPG) brands.

Kroger: Volta plans to install charging stations at 16 Kroger locations in the Atlanta and Indianapolis areas, with plans to expand to Columbus, Cincinnati, Louisville, Nashville, Michigan, and Southern California throughout 2022. Kroger's advertising sales team plans to sell Volta's media inventory to its clients, unlocking another source of revenue for Volta and highlighting the power of Volta’s combined charging and media model to other retailers with advertising offerings.

Second Quarter 2022 Financial Highlights

• Revenues increased 121% year-over-year to $15.3 million, compared to $6.9 million in the three months ended June 30, 2021.

Revenue by Category

• Selling, general and administrative expenses excluding stock-based compensation were $37.6 million, compared to $16.1 million in the prior-year period.
• Net loss was $37.4 million, compared to a loss of $20.6 million in the prior-year period.
• Adjusted EBITDA was $33.4 million loss, compared to $15.1 million loss in the prior-year period.
• Cash and marketable securities were $105.3 million as of June 30, 2022.
• Weighted average shares outstanding for the three months ended June 30, 2022 were 167.4 million.

Total Stalls Connected, including Site Partners
In the second quarter Volta’s installed base increased by a record 372 stalls, bringing Volta’s installed base of total stalls connected as of June 30, 2022 to 2,920, representing a 48% year-over-year increase. A stall is attributed to a station based on the number of vehicles that can charge concurrently from that station and there are certain configurations of Volta sites where one station is capable of charging more than one vehicle at a time. The Company now has stalls in 28 states and territories.

Full Year 2022 Outlook
Based on current business conditions, business trends and other factors, for the full year ending December 31, 2022, the Company reiterates guidance of:

• Full year 2022 Revenue in the range of $70 million to $80 million
• Total incremental, connected stalls in the range of 1,700 to 2,000
• Total incremental, connected sites to be in the range of 650 to 750 sites

Third Quarter Outlook
Based on current business conditions, business trends and other factors, for the three months ending September 30, 2022, the Company provides guidance of:

• Third quarter Revenue in the range of $17 million to $18 million

Webcast and Conference Call Information
Company management will host a webcast and conference call on August 11, 2022, at 6:00 p.m. Eastern Time, to discuss the Company’s financial results and business operations updates.

Interested investors and other parties can listen to a webcast of the live conference call and access the Company’s second quarter update presentation by logging onto the Investor Relations section of the Company’s website at https://investors.voltacharging.com/.

The conference call can be accessed live over the phone by dialing +1-877-423-9813 (domestic) or +1-201-689-8573 (international). A telephonic replay will be available approximately three hours after the call by dialing +1-844-512-2921, or for international callers, +1-412-317-6671. The pin number for the replay is 13732035. The replay will be available until 11:59 p.m. Eastern Time on August 25, 2022.

About Volta Inc.
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.

Non-GAAP Financial Information
This press release contains references to EBITDA and Adjusted EBITDA of Volta, which are adjusted from results based on generally accepted accounting principles in the United States (“GAAP”) and exclude certain expenses, gains and losses. The Company defines and calculates EBITDA as net loss attributable to Volta before the impact of interest income or expense, provision for income taxes, depreciation and amortization. The Company defines and calculates Adjusted EBITDA as EBITDA adjusted to exclude stock-based compensation expense and change in fair value of warrant liabilities.

These non-GAAP financial measures are provided to enhance the user’s understanding of our prospects for the future and the historical performance for the context of the investor. The Company’s management team uses these non-GAAP financial measures in assessing performance, as well as in planning and forecasting future periods. These non-GAAP financial measures are not computed according to GAAP and the methods the Company uses to compute them may differ from the methods used by other companies. Non-GAAP financial measures are supplemental, should not be considered a substitute for financial information presented in accordance with GAAP and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.

Refer to the attached financial supplement for a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures for the three and six months ended June 30, 2022, and 2021.

Total Stalls Installed
Volta management considers “Total Stalls Installed” as the total size of its installed charging network at the end of the period, including Volta-owned and network partner-owned charging stations operated by Volta. Volta’s management uses Total Stalls Installed for internal network planning and forecasting purposes, including evaluating the potential Media (previously Behavior and Commerce) revenue generating capacity of its charging network, which is generated through delivery of content by Volta’s partners across both Volta-owned and its network partner-owned charging stalls. In addition, Total Stalls Installed provides the basis for Volta’s assessment of its charging network operations as well. Volta believes that this performance measure provides meaningful, supplemental information regarding the Volta charging network that helps illustrate trends in its business and operating performance. Volta believes that this performance measure is helpful to its investors as it is used by management in assessing the growth of the Volta charging network.

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of federal securities laws, including statements regarding Volta’s future business, operations and financial performance. These forward-looking statements generally are identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “may,” “opportunity,” “plan,” “potential,” “project,” “should,” “strategy,” “will,” “would,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as updated in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.voltacharging.com. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Volta^®, Volta Charging^®, PredictEV^® and Drive Forward^® and other marks are registered trademarks with the U.S. Patent and Trademark Office, and are the exclusive property of Volta Charging, LLC. Apple, Bank of America, Coca-Cola, General Mills, Genesis, Hewlett-Packard, Jeep, Kia, Kroger, Lyft, Michelin, United Airlines, and ZOOM are trademarks owned by the respective owner.