DENVER--(BUSINESS WIRE)--Advanced Energy (Nasdaq: AEIS), a global leader in highly engineered, precision power conversion, measurement, and control solutions, will report its fourth quarter 2022 financial results after the market closes on Wednesday, February 8, 2023. Management's quarterly conference call will be held the same day beginning at 4:30 p.m. Eastern Time.
To participate in the live earnings conference call, please dial 877-407-0890 approximately ten minutes prior to the start of the meeting and an operator will connect you. International participants can dial +1-201-389-0918.
A live webcast of the call will be available on the Investors page of the company's website at ir.advancedenergy.com in the Events & Presentations section. A replay of the conference call will be available approximately two hours following the end of the live event.
About Advanced Energy
Advanced Energy Industries, Inc. (Nasdaq: AEIS) is a global leader in the design and manufacture of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. Advanced Energy’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial production, medical and life sciences, data center computing, networking and telecommunications. With engineering know-how and responsive service and support for customers around the globe, the company builds collaborative partnerships to meet technology advances, propels growth of its customers and innovates the future of power. Advanced Energy has devoted four decades to perfecting power. It is headquartered in Denver, Colorado, USA.
For more information, visit www.advancedenergy.com.
Advanced Energy | Precision. Power. Performance. Trust.
Andrew Huang
Advanced Energy Industries, Inc.
970-407-6555
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José Samperio to succeed Boerger
COLUMBUS, Ind.--(BUSINESS WIRE)--Today, Cummins Inc. (NYSE: CMI) announced that after 39 years with the company, Amy Boerger, Vice President and General Manager – North America On-Highway, will retire at the end of March 2023. With the announcement of her retirement, José Samperio, will assume the role of Executive Director and General Manager – North America On-Highway.
“Amy has focused much of her career on the North America on-highway market, a market that continues to be critical to Cummins’ success,” said Srikanth Padmanabahn, President, Engine Business Segment, Cummins Inc. “During her career, she has left a tremendous impact inside and outside of Cummins and touched countless lives through her leadership and commitment to our values and ability to drive results. She is a trusted partner and advisor and has strengthened many customer relationships that are more important than ever as they look to us for the solutions of today and tomorrow during this period of energy transition.”
Boerger spent her 39 years at Cummins pioneering the advancements of the trucking industry, the business and building strong relationships with stakeholders, elevating Cummins reputation as a company who deeply values its customers and partners. An advocate for supporting others, Boerger was influential in fearlessly opening doors to new opportunities for women and distinguished herself as an effective, successful and high-profile leader in the field in a once predominantly male-dominated industry.
She began her career at the Cummins Engine Plant (CEP) as the first female engineer in product engineering and continued to forge her own path in field sales as one of the first saleswomen and account executives within the company. Boerger focused her energy cultivating customer connections and expanding the business with some of Cummins’ largest OEM customers, before heading up the global retrofit emissions business when Cummins Emissions Solutions launched in 2002. She returned to the on-highway business in 2014 as the Executive Director – North America Engine Business and was shortly appointed an officer of Cummins as Vice President – Sales, with her continued success defining a relationship-driven approach to working with customers.
A champion for the entire industry, Boerger was a finalist for the Women in Trucking Association’s Influential Women in Trucking award in 2014 and has been significantly involved in the American Trucking Association (ATA), including as a member of the executive board and Women in Motion Advisory Board, and the Allied Committee for the Trucking Industry (ACT 1), serving as its vice president in 2018 and the president in 2019 and 2020. She has extensive service with the Trucking Cares Foundation, served on the research advisory committee for the American Transportation Research Institute (ATRI) and the board of directors for the Truckload Carriers Association.
José Samperio, Executive Director and General Manager – Sales for Cummins On-Highway Business in North and South America, will succeed Boerger as Executive Director and General Manager – North America On-Highway
Samperio brings nearly 20 years of Cummins experience across engineering, service, strategy and sales. His Cummins career began at the Jamestown Engine Plant as a product engineer, a service engineer and in distribution service shop operations. Samperio spent time in Beijing, China, as a leader launching new products followed by a role as General Manager for Cummins Power Systems business in Latin America located in Sao Paulo, Brazil. He also served as the Engine Business Strategy Leader where his work has been vital in helping craft the long-term vision for the Cummins powertrain business, with a heavy focus on technology roadmaps.
Over the last two years as the Executive Director – Sales for the On-Highway Business in North and South America, he has collaborated across Cummins to develop deep relationships with dealers, fleets and industry personnel. Samperio has been instrumental in reenergizing Cummins relationships with private truck carriers, forming an excellent customer council and building a cross-functional organization to support the evolving needs of sales operational excellence, as well as alternative fuel and digital strategies.
“It's never been more important that we have a leader like José with deep experience, talent and passion at the helm of this critical market for Cummins’ success today and in the future,” said Brett Merritt, Vice President - On Highway, Engine Business, Cummins Inc. “His leadership will continue to enable Cummins to win in the North American market by providing the same level of partnership and support our customers expect and need.”
Samperio serves on the board of directors for North American Council for Freight Efficiency (NACFE) and the board of governors for the National Private Truck Council (NPTC) Institute. He also serves on the American Transportation Research Institute’s (ATRI) Research Advisory Committee and the American Trucking Associations’ (ATA) Technology and Engineering Policy Committee.
Outside of work Samperio serves on the Board of Directors at the Indiana Sports Corp, the nation's first sports commission, and the Eiteljorg Museum of American Indians and Western Art. He sits on the Parish Council at Saint Thomas Aquinas Catholic Parish and has supported the Exodus Refugee Center in Indianapolis. He also recently served on the Board of the Butler Tarkington Neighborhood Association, one of the first integrated neighborhoods in Indiana, and is a frequent participant in many Keep Indianapolis Beautiful programs.
About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, axles, drivelines, brakes, suspension systems, electric power generation systems, batteries, electrified power systems, electric powertrains, hydrogen production and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 59,900 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.1 billion on sales of $24.0 billion in 2021. See how Cummins is powering a world that's always on by accessing news releases and more information at https://www.cummins.com/always-on.
Jon Mills – Director, External Communications & Global Brand
317-658-4540
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MILPITAS, Calif.--(BUSINESS WIRE)--$AULT #AmosKohn--Imperalis Holding Corp. (OTC: IMHC), at times referred to as TurnOnGreen, Inc. (“TurnOnGreen” or the “Company”), announced that its subsidiary, Digital Power Corporation (“DPC”), has completed the development phase of its generic access platform (“GAP”) power supply unit for powering broadband network access nodes. DPC’s GAP power supply unit enables broadband and multi-system operators to add new functions and services to access nodes. This novel GAP power supply unit design allows multi-system operators (“MSOs”) to accelerate technology updates, deliver multiple services utilizing a single node platform, facilitate the migration to an edge-computing model, increase service velocity and reduce inventory costs.
DPC’s GAP power supply unit offers leading-edge adaptive power management technology that measures and controls energy, monitors power consumption, reduces power consumption while improving power efficiency, high-density and very low electromagnetic interference (“EMI”). The topology uses an innovative boost circuit to store energy for an extended hold-up-time, a record 0.2 seconds, while still fitting into the form factor required by the standard. The proprietary design uses a dual-core digital signal processor (“DSP”), one core is dedicated to power control of the AC-to-DC and DC-to-DC converters and the second core is used for monitoring and reporting over a controller area network (”CAN”) that meets industry standard communications protocols. DPC’s GAP node power solution is compliant with the Society of Cable Telecommunications Engineers (“SCTE”) specifications and requirements for interchangeable modules within the GAP enclosure for use in cable access, fiber access, wireless access networks, and future applications.
“Custom design and manufacturing of power solutions is a core competency of our business,” said TurnOnGreen and DPC’s Chief Executive Officer, Amos Kohn. “Our innovative technology and advanced digital power processing solutions is expected to help provide expansive broadband access to deliver fast, high-quality, reliable internet and streaming services to millions of people worldwide.”
“The Company has a 50-year history of successfully designing and commercializing custom power solutions for the telecommunication industry,” said TurnOnGreen President Marcus Charuvastra. “Maintaining a diverse and nimble business operating unit is a key part of our growth strategy. We believe this new product will provide the Company with access to the enormous broadband market.”
According to the Society of Cable Telecommunications Engineers, the first GAP standards are focused on the North American cable market, but can also be applied to strand-mount node housings used in Europe and other regions. The standardization of GAP technology will lead the industry away from the variety of proprietary nodes and create a scalable environment for industry growth. GAP standards also aim to improve interoperability between different telecommunication organizations.
About Imperalis Holding Corp.
TurnOnGreen designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include defense and aerospace, medical and healthcare, industrial, telecommunications, and e-Mobility. The Company brings decades of experience to every project, working with its clients to develop leading-edge products to meet a wide range of needs. The Company’s headquarters are located in Milpitas, CA; www.TurnOnGreen.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov the Company’s website at www.TurnOnGreen.com.
Imperalis Holding Corp. Investor Contact:
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BATAVIA, N.Y.--(BUSINESS WIRE)--Graham Corporation (NYSE: GHM), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy and process industries, announced that it will release its third quarter fiscal year 2023 financial results before financial markets open on Monday, February 6, 2023.
The Company will host a conference call and webcast to review its financial and operating results, strategy, and outlook. A question-and-answer session will follow.
Third Quarter Fiscal Year 2023 Financial Results Conference Call
Monday, February 6, 2022
11:00 a.m. Eastern Time
Phone: (201) 689-8560
Internet webcast link and accompanying slide presentation: https://ir.grahamcorp.com/
A telephonic replay will be available from 2:00 p.m. ET on the day of the teleconference through Monday, February 13, 2023 at 11:59 p.m. ET. To listen to the archived call, dial (412) 317-6671 and enter conference ID number 13735007 or access the webcast replay via the Company’s website at www.ir.grahamcorp.com, where a transcript will also be posted once available.
ABOUT GRAHAM CORPORATION
Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy and process industries. The Graham Manufacturing and Barber-Nichols’ global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems.
Graham routinely posts news and other important information on its website, www.grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.
For more information, contact:
Christopher J. Thome
Vice President - Finance and CFO
Phone: (585) 343-2216
Deborah K. Pawlowski
Kei Advisors LLC
Phone: (716) 843-3908
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DALLAS--(BUSINESS WIRE)--Kosmos Energy (NYSE/LSE: KOS) (“Kosmos” or the “Company”) announces that the floating production, storage and offloading vessel (“FPSO”) for the Greater Tortue Ahmeyim (“GTA”) liquefied natural gas project has departed the COSCO shipyard in China to commence its voyage via Singapore to the project site on the maritime border of Mauritania and Senegal. The voyage is approximately 12,000 nautical miles and the vessel is expected to arrive in the second quarter.
Chairman and Chief Executive Officer Andrew G. Inglis commented: “The sailaway of the GTA FPSO from the shipyard in China is a key milestone for the project. At the end of 2022, the project was around 90% complete and we look forward to an active 2023 where we expect to achieve a number of important milestones for the project and the company.”
About Kosmos Energy
Kosmos is a full-cycle deepwater, independent oil and gas exploration and production company focused along the offshore Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and the U.S. Gulf of Mexico, as well as a world-class gas development offshore Mauritania and Senegal. We also pursue a proven basin exploration program in Equatorial Guinea, Ghana and the U.S. Gulf of Mexico. Kosmos is listed on the New York Stock Exchange and London Stock Exchange and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company’s Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in our Sustainability Responsibility Report. For additional information, visit www.kosmosenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos’ estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos’ Securities and Exchange Commission (“SEC”) filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. Management does not provide a reconciliation for forward looking non GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of our control or cannot be reasonably predicted. For the same reasons, management is unable to address the probable significance of the unavailable information. Forward looking non GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.
Investor Relations
Jamie Buckland
+44 (0) 203 954 2831
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Media Relations
Thomas Golembeski
+1-214-445-9674
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Leverages innovative index methodology from Carbon Neutral Investment Company
ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc., a leading global provider of data, technology and market infrastructure, today announced the launch of the first carbon-neutral U.S. electricity futures index. With the market focused on the build out of North American renewable generation and its impact on U.S. power prices, the ICE U.S. Carbon Neutral Power Index provides investors with a benchmark that contains exposure to the critical North American power markets.
“Electricity is the second largest energy component of the Consumer Price Index and is not directly included in any of the existing major commodity indices,” said Varun Pawar, Vice President, Head of ICE Data Indices. “This rules-based index developed by ICE with methodology licensed from Carbon Neutral Investment Company LLC (CNIC) has the ability to be a preferred financial instrument for investors who are looking for sustainable North American commodity exposure in their portfolios.”
The ICE U.S. Carbon Neutral Power Index consists of the prompt twelve months of ICE-listed electricity futures contracts from six major U.S. power pools as well as carbon allowance futures contracts designed to offset the emissions of the generation associated with these electricity futures contracts. With the utilization of the six major U.S. power pools, the ICE U.S. Carbon Neutral Power Index will be broadly representative of U.S. electricity consumption and price.
“We are proud to have licensed our methodology as part of the ICE U.S. Carbon Neutral Power Index,” said Donald R. Sinclair, Chairman of CNIC. “This index will assist us in developing financial instruments that provide investors exposure to exchange-traded electricity futures and carbon offsets, while having the ability to use the ICE U.S. Carbon Neutral Power Index as a benchmark.”
ICE’s global family of indices serves as the performance benchmark for more than $1.5 trillion in assets managed by investors around the globe. For more information about ICE’s Indices, please visit: https://www.theice.com/market-data/indices.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. FactSet® is a trademark of FactSet Research Systems, Inc. Other products, services, or company names mentioned herein are the property of, and may be the service mark or trademark of, their respective owners. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on February 3, 2022.
About Carbon Neutral Investment Company
CNIC is an investment organization responsible for developing and managing commodity-based investment products. Led by industry executives with 20+ year of commodity, asset, risk management and C-Suite experience, CNIC applies rigorous fundamental and quantitative analysis with a qualitative overlay to address capital markets needs with innovative products
Category: Fixed Income and Data Services
SOURCE: Intercontinental Exchange
ICE-CORP
ICE Media Contact:
Damon Leavell
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(212) 323-8587
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ICE Investor Contact:
Katia Gonzalez
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(678) 981-3882
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WASHINGTON--(BUSINESS WIRE)--#LetsSolveWater--Xylem Inc. (NYSE: XYL), a leading global water technology company (“Xylem”), and Evoqua (NYSE: AQUA), a leader in mission-critical water treatment solutions and services, today announced they have entered into a definitive agreement under which Xylem will acquire Evoqua in an all-stock transaction that reflects an implied enterprise value of approximately $7.5 billion.
As water risks rise in global importance, this transaction unites two companies with a shared focus on solving the world’s water challenges by addressing customers’ and communities’ most critical needs. Building on Xylem’s global leadership in water solutions and Evoqua’s leadership in advanced treatment solutions and services, the combined company will be uniquely positioned to develop and deliver an even more comprehensive offering of innovative solutions.
Evoqua, a leader in North America water treatment, complements Xylem’s distinctive portfolio of solutions with advanced water and wastewater treatment capabilities, a powerful and extensive network of service professionals and access to a number of attractive industrial markets with resilient, recurring revenue streams. Evoqua’s solutions, including digitally enabled offerings, optimize and outsource mission-critical water treatment systems for customers in high-growth sectors such as life sciences, microelectronics, power and food and beverage. In addition, Evoqua is a leader in the remediation of emerging contaminants, including PFAS.
Xylem and Evoqua generated over $7 billion in combined revenue in the 12-month period ending September 30, 2022, with $1.2 billion in adjusted EBITDA. The combination unlocks compelling new growth opportunities and is expected to deliver run-rate cost synergies of $140 million within three years, driven by scale efficiencies in procurement, network optimization and corporate costs. In addition, the transaction allows Xylem to maintain its strong balance sheet, which provides the combined company with significant strategic flexibility and optionality.
"Solving the world’s water challenges has never been more urgent. Our acquisition of Evoqua creates a transformative global platform to address water scarcity, affordability and resilience at even greater scale,” said Patrick Decker, President and CEO of Xylem. “The combined company delivers an unparalleled portfolio of advanced technologies, integrated services and application expertise across the water cycle.”
“Together, our complementary businesses will be even more strongly positioned to help our customers and communities tackle their most challenging water needs,” continued Decker. “We are excited about building the world’s most powerful platform for solving water alongside our Evoqua colleagues.”
“Joining forces with Xylem is an exciting opportunity for Evoqua and for our team members. This combination provides a platform to leverage our combined strengths and increase our impact to better address the most pressing and increasingly complex global water challenges,” said Ron Keating, Evoqua's President and CEO. "I am incredibly proud of what our team at Evoqua has achieved to date, providing mission-critical water treatment solutions to the market and for our customers. Along the way, we have earned a reputation for quality, safety and reliability around the world. Together with Xylem, we will drive innovation on a larger scale for our customers, positioning us to create even more value for our stakeholders.”
Transaction Details
Evoqua shareholders will receive 0.480 shares of Xylem for each Evoqua share, representing a value of $52.89 per share or a 29 percent premium based on Xylem and Evoqua closing prices as of January 20, 2023.
The transaction, which is anticipated to close in mid-2023, is subject to approval by shareholders of Xylem and Evoqua, the receipt of required regulatory approvals and other customary closing conditions.
Upon closing, Xylem shareholders will own approximately 75 percent and Evoqua shareholders will own approximately 25 percent of the combined company on a fully diluted basis.
Following the closing, the combined company will continue to be led by Patrick Decker, Xylem’s President and CEO. Two current members of the board of directors of Evoqua are expected to join Xylem’s board of directors.
Advisors
Lazard and Guggenheim Securities served as financial advisors and Gibson, Dunn & Crutcher LLP served as legal advisor to Xylem. Goldman Sachs & Co. LLC and BofA Securities served as financial advisors and Jones Day served as legal advisor to Evoqua.
Conference Call Details
At 9:00 a.m. (ET), Xylem’s senior management team and Evoqua’s CEO will host a conference call with investors.
The call can be accessed by calling +1 (800) 267-6316 (US) or +1 (203) 518-9783 (INTL) (ID #XYL0123) or by visiting Investors Events | Xylem US.
A replay of the briefing will be available on Investors Events | Xylem US and via telephone from January 23, 2023, 1:00 p.m. (ET) until January 30, 2023 at 11:59 p.m. (ET). The telephone replay will be available at +1 (800) 839-6975 or +1 (402) 220-6061.
About Xylem
Xylem (XYL) is a leading global water technology company committed to solving critical water and infrastructure challenges with innovation. Our 17,000 diverse employees delivered revenue of $5.2 billion in 2021. We are creating a more sustainable world by enabling our customers to optimize water and resource management and helping communities in more than 150 countries become water-secure. Join us at www.xylem.com.
About Evoqua
Evoqua is a leading provider of mission critical water and wastewater treatment solutions, offering a broad portfolio of products, services and expertise to support industrial, municipal and recreational customers who value water. Evoqua has worked to protect water, the environment and its employees for more than 100 years, earning a reputation for quality, safety and reliability around the world. Headquartered in Pittsburgh, PA the company operates in more than 150 locations across nine countries. Serving more than 38,000 customers and 200,000 installations worldwide, our employees are united by a common purpose: Transforming Water. Enriching Life®. To learn more, visit www.evoqua.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Generally, the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “contemplate,” “predict,” “forecast,” “likely,” “believe,” “target,” “will,” “could,” “would,” “should,” “potential,” “may” and similar expressions or their negative, may, but are not necessary to, identify forward-looking statements.
Such forward-looking statements, including those regarding the timing, consummation and anticipated benefits of the transaction described herein, involve risks and uncertainties. Xylem’s and Evoqua’s experience and results may differ materially from the experience and results anticipated in such statements. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions including, but are not limited to, the following factors: the risk that the conditions to the closing of the transaction are not satisfied, including the risk that required approvals of the transaction from the shareholders of Xylem or stockholders of Evoqua or from regulators are not obtained; litigation relating to the transaction; uncertainties as to the timing of the consummation of the transaction and the ability of each party to consummate the transaction; risks that the proposed transaction disrupts the current plans or operations of Xylem or Evoqua; the ability of Xylem and Evoqua to retain and hire key personnel; competitive responses to the proposed transaction; unexpected costs, charges or expenses resulting from the transaction; potential adverse reactions or changes to relationships with customers, suppliers, distributors and other business partners resulting from the announcement or completion of the transaction; the combined company’s ability to achieve the synergies expected from the transaction, as well as delays, challenges and expenses associated with integrating the combined company’s existing businesses; the impact of overall industry and general economic conditions, including inflation, interest rates and related monetary policy by governments in response to inflation; geopolitical events, including the war between Russia and Ukraine, and regulatory, economic and other risks associated therewith; and continued uncertainty around the ongoing impacts of the COVID-19 pandemic, as well as broader macroeconomic conditions. Other factors that might cause such a difference include those discussed in Xylem’s and Evoqua’s filings with the Securities and Exchange Commission (the “SEC”), which include their Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and in the joint proxy statement/prospectus on Form S-4 to be filed in connection with the proposed transaction. For more information, see the section entitled “Risk Factors” and the forward-looking statements disclosure contained in Xylem’s and Evoqua’s Annual Reports on Form 10-K and in other filings. The forward-looking statements included in this press release are made only as of the date hereof and, except as required by federal securities laws and rules and regulations of the SEC, Xylem and Evoqua undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Additional Information and Where to Find It
In connection with the proposed transaction, Xylem intends to file with the SEC a registration statement on Form S-4 that will include a joint proxy statement of Xylem and Evoqua that also constitutes a prospectus of Xylem. Each of Xylem and Evoqua also plan to file other relevant documents with the SEC regarding the proposed transaction. No offer of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Any definitive joint proxy statement/prospectus (if and when available) will be mailed to shareholders of Xylem and stockholders of Evoqua. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and shareholders will be able to obtain free copies of these documents (if and when available), and other documents containing important information about Xylem and Evoqua, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Xylem will be available free of charge on Xylem’s website at www.xylem.com or by contacting Xylem’s Investor Relations Department by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at +1 (914) 260-8612. Copies of the documents filed with the SEC by Evoqua will be available free of charge on Evoqua’s internet website at www.evoqua.com or by contacting Evoqua Water Technologies Corp., 210 Sixth Avenue, Suite 3300, Pittsburgh, PA 15222, ATTN: General Counsel and Secretary.
Participants in the Solicitation
Xylem, Evoqua and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive officers of Xylem is set forth in Xylem’s proxy statement for its 2022 annual meeting of shareholders, which was filed with the SEC on March 29, 2022, and Xylem’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on February 25, 2022. Information about the directors and executive officers of Evoqua is set forth in its proxy statement for its 2023 annual meeting of stockholders, which was filed with the SEC on December 23, 2022, and Evoqua’s Annual Report on Form 10-K for the fiscal year ended September 30, 2022, which was filed with the SEC on November 16, 2022. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Investors should read the joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from Xylem or Evoqua using the sources indicated above.
No Offer or Solicitation
This press release is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. No offer of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Media
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Andrea van der Berg
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Funding Part of Advanced Research Projects Agency-Energy (ARPA-E) Program to Support Domestic Development of Advanced Batteries for Electric Vehicles
CAMBRIDGE, Mass.--(BUSINESS WIRE)--#EVs--24M announced today that it has been selected to receive $3.2 million in funding from the U.S. Department of Energy Advanced Research Projects Agency-Energy (ARPA-E). The funding is part of the ARPA-E Electric Vehicles for American Low-Carbon Living (EVs4ALL) program, which seeks to develop more affordable, convenient, efficient and resilient electric vehicle (EV) batteries.
“We are pleased to be chosen for this initiative and help strengthen the domestic supply chain for advanced batteries that power electric vehicles,” said Naoki Ota, president and CEO of 24M. “The demand for lower-cost, higher-capacity batteries is greater than ever before. The current processes to manufacture lithium-ion batteries are approaching performance and cost limits and require an innovative manufacturing platform that improves performance while reducing costs.”
24M will partner with the Massachusetts Institute of Technology (MIT) and Carnegie Mellon University (CMU) to use its versatile SemiSolid manufacturing platform to develop low-cost, fast-charging sodium metal batteries with good low-temperature performance for EVs. The 24M cell design will incorporate three key features:
“As the U.S. Department of Energy looks to expand domestic adoption of electric vehicles, sodium metal batteries can play an important role in ensuring low costs for all consumers,” said Dr. JunZheng Chen, director of advanced R&D at 24M. “This funding will help us develop, manufacture and deliver these batteries at scale.”
The ultra-thick SemiSolid electrode architecture has been commercially demonstrated with exceptionally high energy density using lithium-ion chemistry. Leveraging the 24M chemistry-agnostic SemiSolid manufacturing platform and modular approach to battery cell design, the team will apply this to sodium chemistry, paving the way for fast-charging, high energy density and low-cost batteries ideal for the EVs4ALL program.
For additional information about 24M and this project, please visit https://24-m.com/.
ABOUT 24M
24M answers the world’s need for affordable energy storage by enabling a new, more cost-effective solution–SemiSolid™ manufacturing platform. By re-inventing the design of the battery cell as well as the manufacturing method, 24M solves the critical, decades-old challenge associated with the world’s preferred energy storage chemistry: reducing its high cost while improving its performance. Founded and led by some of the battery industry’s foremost inventors, scientists and entrepreneurs, 24M is headquartered in Cambridge, Mass. For more information, please visit www.24-m.com.
Marian Hughes for 24M
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Pang Tan
VP of Business Development
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The acquisition of firms in CA and CO unlocks end-to-end services for Legence clients across the Western United States to strengthen its existing energy consulting, ESG advisory, and Mechanical, Electrical, and Plumbing (MEP) design and construction execution services.
SAN JOSE, Calif.--(BUSINESS WIRE)--#sustainability--Legence, a Blackstone company and the world’s first Energy Transition Accelerator™, announced today three key acquisitions in the Western United States to provide deep and localized expertise in decarbonizing the built environment.
These strategic acquisitions include Shadpour Consulting Engineers Inc (SC Engineers), a California-based MEP engineering firm focused on mission-critical customers, Trinity Process Solutions Inc (Trinity), a design-build mechanical contracting firm in Los Angeles that specializes in high purity process piping, and KLOK Group, a full-service MEP engineering solutions provider in Colorado.
In addition to building out Legence’s professional capabilities, the move provides the expanded team access to Legence’s ecosystem of engineering and implementation expertise. Furthermore, the acquisitions put Legence in a more robust position to deliver on its commitment to making the built environment healthier, more efficient, and more sustainable as building owners navigate decarbonization.
“When Legence is exploring potential partners to strengthen our end-to-end sustainability services in the built environment, we’re looking for firms that can seamlessly integrate into our legion of companies,” said Legence CEO Jeff Sprau on the importance of finding the right fit. “This enables speed at scale for customers. Cultural alignment is a priority for Legence, and the difference shows in our industry-leading results.”
The new partnerships reflect the growing need for high-level sustainability consulting, MEP design, and construction execution services across a range of industries, and reaffirm Legence’s aggressive growth trajectory.
The acquisition of SC Engineers, which boasts deep MEP expertise throughout Southern California, entrenches Legence's market-leading position as the provider-of-choice for the state's mission-critical projects, a position already established by Legence’s Bay Area-based company, Therma.
“I'm excited for SC Engineers to join Legence,” said Frank Shadpour, Principal, SC Engineers. “Our team has extensive experience in cutting-edge engineering solutions, and few challenges are as pressing as the need for broad emission reductions. Being a part of Legence will better serve our existing customers while enabling the synergy of our visions to better serve global net-zero efforts.”
Legence’s partnership with Trinity rounds out the company’s West Coast practice while expanding Legence’s service offerings, particularly in high-purity piping and fabrication. By providing Legence the means of servicing commercial, industrial, and critical infrastructure, Trinity’s expertise opens new markets for the company while increasing its technical expertise. Trinity, based in Los Angeles, will merge with Therma.
Colorado-based KLOK Group’s merger with CMTA, a Legence company, supplements the company’s presence in this burgeoning sustainability market and further cements its ability to value-stack incentives and improve investment returns for building owners. A combination of friendly local policies and federal incentives like the Inflation Reduction Act have positioned states like Colorado to spearhead decarbonization in the built environment.
To date, clients have trusted the Legence portfolio to deliver ESG programs for more than $1.5 trillion in assets under management, and design over 10 million square feet of net-zero construction. These new partnerships with SC Engineers, Trinity, and KLOK Group provide deep and localized industry expertise throughout the Western U.S., and will play a pivotal role in Legence’s ability to provide a broad spectrum of best-in-class sustainability consulting and design services for clients and partners.
About Legence
Legence, a Blackstone portfolio company, is an Energy Transition Accelerator™ that provides advisory services and implementation focused on financing, designing, building, and servicing complex systems in mission-critical and high-performance facilities. With five decades of expertise in the built environment, Legence has a proven track record of reducing carbon emissions, implementing renewables, lowering utility costs through efficiency consumption, and optimizing systems performance at unmatched speed and scale. To learn more about Legence and its services, visit wearelegence.com.
About Therma
Therma, a Legence company, was founded in 1967 and has grown to become one of the largest mechanical contractors in the United States and a leader in the Silicon Valley market. Therma is a full-service design-build specialty mechanical contractor that focuses on complex HVAC, high purity process piping and process controls for cleanrooms, laboratories and high-tech manufacturing facilities. Therma performed the original mechanical work for some of the founding clean rooms and semiconductor fabrication facilities in Silicon Valley. For more information, visit therma.com.
About CMTA
CMTA, a Legence company, specializes in creating and maintaining high-performing facilities and energy systems by providing energy solutions, energy consulting and engineering, and performance contracting services. CMTA is recognized as a leader in sustainable facility design and energy efficiency retrofits, often providing performance contracting and consulting engineering services together as part of larger multi-disciplinary comprehensive solutions. For more information, please visit cmta.com.
About KLOK Group
Founded in Golden, Colorado, in 2010, KLOK Group is a full-service engineering firm dedicated to innovative, pragmatic consulting in MEP design and coordination. Known for high principal involvement in every project, agility in responding to client requests, and excellence in addressing the unique needs of each project, KLOK serves clients in a wide array of industries, including science and technology, K-12 and higher education, multifamily residential, commercial office, and civic and government. For more information, visit klokgroup.com.
About SC Engineers
Founded in San Diego, California, in 2004, SC Engineers is a consulting firm specializing in mechanical, electrical, and plumbing (MEP) planning and design, energy efficiency, building automation, and total building commissioning for both public and private sector clients including, healthcare, educational, government, defense, and technology organizations. SC Engineers has a proven track record of success for the quality of services, having received repeated awards and commendations from both local and national organizations, including the American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE). For more information, visit scengineers.net.
About Trinity Process Solutions
Trinity Process Solutions (Trinity) is a full-service mechanical contractor serving the West Coast, USA. With the combined expertise of mechanical/utility piping, high purity process piping, and fabrication, Trinity designs and builds mechanical systems, including steam, cooling and water treatment for commercial, industrial and military clients. Additionally, Trinity specializes in process and high purity piping for the pharmaceutical and specialized gas industries. For more information, visit trinityprocesssolutions.com.
Berenson & Company served as buyside advisor to Legence on the acquisitions of SC Engineers and KLOK Group.
Media:
Jack Shaw
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The new acquisition positions Legence, a Blackstone company, to provide zero-energy and decarbonization engineering services in Colorado
LOUISVILLE, Ky.--(BUSINESS WIRE)--CMTA, a Legence company, announced today its merger with KLOK Group from Golden, Colorado after its acquisition by CMTA’s parent company, Legence. This acquisition benefits each company by increasing its geographic reach, engineering capacity, and ability to provide high-performance design and energy-efficient solutions to its clients.
CMTA joined Legence in 2021 to help create the world’s first Energy Transition Accelerator™ and the leading end-to-end provider of energy and sustainability solutions and services for high-performance buildings. KLOK Group joins the platform as part of CMTA to expand services in Colorado and the Rocky Mountain market.
With 32 offices across the country, CMTA brings zero-energy building design, carbon neutrality, scalable renewable design, and ESG (Environmental, Social, Governance) solutions to the Denver market. The key markets CMTA serves include K-12 and higher education, healthcare, federal and local governmental entities, science and technology, and commercial work.
With the addition of KLOK Group, CMTA has more than 700 engineering professionals. And with recent legislation both nationally with the Inflation Reduction Act and locally with the Energize Denver initiative, the firm is uniquely positioned to help architects and building owners reduce their carbon footprint, electrify their buildings, and generate innovative solutions for high-performing buildings.
“From the beginning, we felt that KLOK Group was uniquely aligned to CMTA’s culture and values, and I am excited to have them board for the next chapter of growth. Together our teams will bring CMTA’s brand of highly sustainable, energy-efficient building engineering to the Denver market and make a real difference in the built community,” Jimmy Benson, CMTA President.
“Joining CMTA allows us to deepen our offerings to our clients while maintaining our team and office in Golden,” says Leif Rosenvold, KLOK Group founder and principal. “We’re pleased that KLOK’s and CMTA’s cultures mesh so well, as do our goals for creating innovative, high-performance buildings.”
Damian Smith, KLOK Group principal and co-founder, adds, “Colorado has long been a leader in embracing energy-efficient strategies in design and building. We’re excited to join forces with CMTA, which will help us augment the kind of innovative thinking and data-driven research that the market needs and wants.”
About CMTA
CMTA, a Legence company, specializes in creating and maintaining high-performing facilities and energy systems by providing energy solutions, energy consulting and engineering, and performance contracting services. CMTA is recognized as a leader in sustainable facility design and energy efficiency retrofits, often providing performance contracting and consulting engineering services together as part of larger multi-disciplinary comprehensive solutions. For more information, please visit www.cmta.com.
About Legence
Legence, a Blackstone portfolio company, is an Energy Transition Accelerator™ that provides advisory services and implementation focused on financing, designing, building, and servicing complex systems in mission-critical and high-performance facilities. With five-plus decades of expertise in the built environment, Legence has a proven track record of reducing carbon emissions, implementing renewables, lowering utility costs through efficiency consumption, and making systems run better at unmatched speed and scale. To learn more about Legence and its services, visit https://www.wearelegence.com/.
Molly Lauck, National Communications
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MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. (“ProPetro” or the “Company”) (NYSE: PUMP) today announced that it has appointed Mary P. Ricciardello to its Board of Directors (the “Board”), effective January 20, 2023. Ms. Ricciardello is a seasoned financial executive with over thirty years of experience serving on boards, and as an executive in finance and accounting roles, in the energy industry.
Phillip Gobe, Chairman of the ProPetro Board, said, “We are pleased to welcome Mary to the ProPetro Board and look forward to benefitting from her deep industry knowledge as we create a stronger, more resilient, and diversified company. Mary’s appointment demonstrates our ongoing commitment to maintaining a highly diverse and qualified Board. We are confident her significant public company board experience and track record of overseeing disciplined, accretive growth will be a valuable addition to our Board and are excited to work with her to advance our strategic goals to create value for shareholders.”
“I am honored to join ProPetro’s Board at such an exciting time for the Company,” said Ms. Ricciardello. “I have followed ProPetro’s evolution and admire the Company’s commitment to its people, the community and environment in which they work, and its shareholders. I look forward to working with my fellow Board members to help drive the Company’s continued success.”
Sam Sledge, CEO, said, “We are delighted to welcome Mary to ProPetro and look forward to benefiting from her deep experience in the energy sector and public company boards. Given her experience and qualifications, Mary will also serve on our Nominating and Corporate Governance and Audit Committees. Her diverse experience will be a great addition to an already impressive collection of board members.”
About Mary P. Ricciardello
Ms. Ricciardello has extensive public company board experience and currently serves as a director, Audit Committee member, and Corporate Governance & Nominating Committee member at Eagle Materials Inc. Ms. Ricciardello previously served as a director at Devon Energy, Noble Corporation, Enlink Midstream, Midstates Petroleum, and U.S. Concrete. Ms. Ricciardello enjoyed a distinguished, two-decade career at Reliant Energy, where she served in key roles including Senior Vice President and Chief Accounting Officer. She earned a Bachelor of Arts degree from the University of South Dakota and an MBA from the University of Houston. She is also a Texas licensed CPA.
About ProPetro
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing completions services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information visit www.propetroservices.com.
Forward-Looking Statements
Except for historical information contained herein, the statements and information 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. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words “may,” “could,” “plan,” “project,” “budget,” “predict,” “pursue,” “target,” “seek,” “objective,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” and other expressions that are predictions of, or indicate, future events and trends and that do not relate to historical matters identify forward‑looking statements. Our forward‑looking statements include, among other matters, statements about our business strategy, industry, future profitability, expected fleet utilization, sustainability efforts, the future performance of newly improved technology, expected capital expenditures and the impact of such expenditures on our performance and capital programs. A forward‑looking statement may include a statement of the assumptions or bases underlying the forward‑looking statement. We believe that we have chosen these assumptions or bases in good faith and that they are reasonable.
Although forward‑looking statements reflect our good faith beliefs at the time they are made, forward-looking statements are subject to a number of risks and uncertainties that may cause actual events and results to differ materially from the forward-looking statements. Such risks and uncertainties include the volatility of oil prices, the operational disruption and market volatility resulting from the COVID-19 pandemic, the global macroeconomic uncertainty related to the Russia-Ukraine war, and other factors described in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, particularly the “Risk Factors” sections of such filings, and other filings with the Securities and Exchange Commission (the “SEC”). In addition, the Company may be subject to currently unforeseen risks that may have a materially adverse impact on it, including matters related to shareholder litigation. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements and are urged to carefully review and consider the various disclosures made in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings made with the SEC from time to time that disclose risks and uncertainties that may affect the Company’s business. The forward-looking statements in this news release are made as of the date of this news release. ProPetro does not undertake, and expressly disclaims, any duty to publicly update these statements, whether as a result of new information, new developments or otherwise, except to the extent that disclosure is required by law.
Investor Contacts:
David Schorlemer
Chief Financial Officer
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Matt Augustine
Senior Manager - Corporate Development & Investor Relations
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HOUSTON--(BUSINESS WIRE)--CORRECTION ON TIME: Second paragraph, third sentence of release should read: Live presentations are scheduled to begin at 9 a.m. CT, and an archived webcast will remain available for at least 90 days on KMI’s website at the above address. (instead of Live presentations are scheduled to begin at 8 a.m. CT, and an archived webcast will remain available for at least 90 days on KMI’s website at the above address).
The updated release reads:
KINDER MORGAN TO HOLD 2023 INVESTOR DAY
Representatives of Kinder Morgan, Inc. (KMI) intend to make presentations in Houston, Texas on January 25, 2023 at the Kinder Morgan 2023 Investor Day regarding the company’s strategy and long-term outlook, the results for fiscal year 2022 and the financial budget for 2023.
Interested parties will be able to view the materials to be presented at the event by visiting KMI’s website at: https://ir.kindermorgan.com/events-and-presentations/default.aspx. The presentations will also be accessible by audio webcast (both live and on-demand) on KMI’s website at the same web address. Live presentations are scheduled to begin at 9 a.m. CT, and an archived webcast will remain available for at least 90 days on KMI’s website at the above address.
About Kinder Morgan
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of people, communities and businesses we serve. We own an interest in or operate approximately 82,000 miles of pipelines, 140 terminals, 700 billion cubic feet of working natural gas storage capacity and have renewable natural gas generation capacity of approximately 2.2 Bcf per year of gross production with up to an additional 5.2 Bcf in development. Our pipelines transport natural gas, renewable fuels, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, renewable fuel feedstocks, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.
Media Relations
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Investor Relations
(713) 369-9490
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SAN RAMON, Calif.--(BUSINESS WIRE)--Complete Solaria, Inc. (“Complete Solaria” or the “Company”), a leading solar technology, services, and installation company, and Freedom Acquisition I Corp. (“Freedom”) (NYSE: FACT), a publicly traded special purpose acquisition company, today announced that Complete Solaria will be hosting a Virtual Investor & Analyst Day on Monday, February 13, 2023 at 11:00 am EST.
During the two-hour virtual event, members of the Complete Solaria and Freedom executive teams will provide an overview of Complete Solaria, which provides end-to-end residential solar solutions using aesthetically appealing, high-performance solar panels, as well as project financing, design and software solutions, combined with world class customer service. In addition, the formal presentation will be followed by a live question and answer session hosted by the Complete Solaria and Freedom management teams.
Registration is required for this virtual event. To register, please click here. The live webcast and presentation materials, as well as a replay of the webcast after the event, will be available on the Complete Solaria investor relations website: www.completesolar.com/solaria.
Complete Solaria announced on October 3, 2022, an agreement for a business combination with Freedom. The business combination is expected to close in the first half of 2023, subject to approval by Freedom’s shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions.
About Complete Solaria
Complete Solaria is a solar company with unique technology and an end-to-end customer offering, which is expected to include financing, project fulfilment, and customer service, allowing it to sell more products across more markets and enable more options for customers wishing to make the switch to a more energy-efficient existence. To learn more, visit: www.completesolar.com/solaria.
About Freedom
Freedom is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Freedom is led by Executive Chairman Tidjane Thiam, who previously served as CEO of Credit Suisse and Prudential. Senior management of Freedom also includes Chief Executive Officer Adam Gishen and Edward Zeng, a proven entrepreneur with a strong track record of creating value for investors across financial services, technology and energy transition sectors. To learn more about Freedom, visit www.freedomac1.com.
Important Information and Where to Find It
This press release relates to proposed transactions involving Complete Solaria and Freedom. Freedom intends to file a registration statement (“Registration Statement”), which will include a proxy statement for the solicitation of Freedom shareholder approval and a prospectus for the offer and sale of Freedom securities in the proposed transaction with Complete Solaria, and other relevant documents with the Securities and Exchange Commission (the “SEC”) to be used at its extraordinary general meeting of shareholders to approve the proposed transaction with Complete Solaria. The proxy statement will be mailed to shareholders as of a record date to be established for voting on the proposed business combination between Freedom and Complete Solaria. INVESTORS AND SECURITY HOLDERS OF FREEDOM AND COMPLETE SOLARIA ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT, PROSPECTUS AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the Registration Statement, proxy statement, prospectus and other documents containing important information about Freedom and Complete Solaria once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov.
Participants in the Solicitation
Freedom, Complete Solaria and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies of Freedom’s shareholders in connection with the proposed business combination between Freedom and Complete Solaria. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination between Freedom and Complete Solaria will be contained in the proxy statement/prospectus pertaining to the proposed transaction when available at www.sec.gov.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination between Freedom and Complete Solaria. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Forward Looking Statements
This communication may contain certain forward-looking statements within the meaning of the federal securities laws with respect to the referenced and proposed transactions. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions, but the absence of these words does not mean that a statement is not a forward-looking statement. Forward-looking statements are forecasts, predictions, projections and other statements about future events that are based on current expectations, hopes, beliefs, intentions, strategies 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: (i) the risk that the proposed business combination may not be completed in a timely manner or at all; (ii) the risk that the proposed business combination between Freedom and Complete Solaria may not be completed by Freedom’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Freedom; (iii) the failure to satisfy the conditions to the consummation of the proposed business combination; (iv) the effect of the announcement or pendency of the proposed business combination on Complete Solaria’s business relationships, operating results, and business generally; (v) risks that the proposed business combination disrupts current plans and operations of the companies or diverts managements’ attention from Complete Solaria’s ongoing business operations and potential difficulties in employee retention as a result of the announcement and consummation of the proposed business combination; (vi) the outcome of any legal proceedings that may be instituted in connection with the proposed business combination; (vii) the ability to maintain the listing of Freedom’s securities on a national securities exchange; (viii) the price of Freedom’s securities may be volatile due to a variety of factors, including changes in the applicable competitive or regulatory landscapes, variations in operating performance across competitors, changes in laws and regulations affecting Freedom’s or Complete Solaria’s business, and changes in the combined capital structure; (ix) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities; (x) the ability to recognize the anticipated benefits of the previously consummated Complete Solaria merger and the proposed business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (xi) the evolution of the markets in which Complete Solaria will compete; (xii) the costs related to the previously consummated Complete Solaria merger and the proposed business combination; (xiii) any impact of the COVID-19 pandemic on Complete Solaria’s business; and (xiv) Freedom and Complete Solaria’s expectations regarding market opportunities.
The foregoing list of factors is not exhaustive. Readers should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of documents filed by Freedom from time to time with the SEC, including the Registration Statement, when available. Such 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 Freedom and Complete Solaria 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. Neither Freedom nor Complete Solaria gives any assurance that any of them will achieve its expectations.
Investor Relations – Complete Solaria
Sioban Hickie, ICR, Inc.
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Public Relations – Complete Solaria
Doug Donsky, ICR, Inc.
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Investor Relations – Freedom
Adam Gishen, Freedom Acquisition l Corp.
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Public Relations – Freedom
Andy Smith, Powerscourt (U.K.)
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MILPITAS, Calif.--(BUSINESS WIRE)--SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, announced today that its products have met the new Dynamic Export requirements as part of the South Australian Government's plan to stabilize the grid with sophisticated, remote cloud control technologies. SolarEdge is the first vendor to certify and offer this native dynamic export service to SA Power Network.
The Dynamic Export requirements call for all new solar systems to allow the network operator to remotely update solar systems’ grid export limits to help maintain grid stability. As part of the “Smarter Homes Program” for distributed energy, starting in July 2023 SolarEdge’s residential and small commercial systems in South Australia will be able to respond to network constraint issues through dynamic control of solar energy exports to the grid. The benefit to SolarEdge system owners is that for most of the year, they will be able to export up to six-times more energy back into the grid, compared to non-compliant sites which will be limited to small, 1.5kW fixed export power limits.
SolarEdge’s smart inverters achieve this capability without the complexity and additional costs of adding third-party controllers.
Zvi Lando, SolarEdge’s CEO, said: “Australia is an early adopter of renewable energy technologies, with challenging and complex grid requirements. We are proud to be part of this milestone pioneered by SA Power Networks and we are excited to help network operators solving congestion issues to further increase solar adoption.”
SolarEdge’s full range of residential and commercial solar inverters are on the Australian Clean Energy Council (CEC) approved vendor list here.
About SolarEdge
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions. Visit us at: solaredge.com
SolarEdge Technologies, Inc.
Lily Salkin Global Public and Media Relations Manager
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Dana Noyman Head of Corporate Communications and Global PR
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Partnership will expand access to EV chargers for tenants in multi-residential & commercial buildings in Canadian province
TORONTO--(BUSINESS WIRE)--SWTCH Energy, an electric vehicle (EV) charging solutions provider for multi-tenant properties across North America, today announced its partnership with Bectrol, a Québec-based integrator of EV chargers and provider of industrial automation, distribution and manufacturing of control panels.
This announcement marks SWTCH’s first major partnership in Québec and helps expand EV charging infrastructure for tenants of multi-unit residential buildings (MURBs) and commercial properties in the province.
SWTCH’s open charging platform and energy management solution is already interoperable with Hydro-Québec’s Circuit Électrique, a public electric utility in Québec and beyond. This interoperability makes SWTCH a charging provider of choice for regional installers, such as Bectrol.
“SWTCH is honored to partner with Bectrol, a leader in EV charging installation projects in Québec,” said Carter Li, SWTCH Energy CEO and co-founder. “Bectrol has become a regional leader as a full-service EV charging installer, and we're excited to extend our solution and team to scale the deployment of chargers across Québec together.”
Currently, 46 percent of all registered EVs in Canada are located in Québec. A longtime electrification pioneer, in 2020, Québec committed to banning the sale of all new gasoline-powered vehicles in the province after 2035, several months before Canada committed to the same goal nationwide, and has an ambitious goal of having 1.5M electric vehicles on the road by 2030. These electrification plans, however, require robust charging infrastructure, which will become available thanks to this new partnership.
“We decided to partner with SWTCH because their energy management solution is efficient, reliable, and economical,” said Jean Nicolas Dupéré, strategic co-director at Bectrol. “SWTCH’s technology is completely customizable and easy to install, without locking users into one specific hardware manufacturer or charging network. We look forward to electrifying Québec together, while sharing our connections with manufacturers and electrical contractors.”
While Québec currently has no province-wide regulations to make MURBs EV-ready, the city of Laval already mandates new MURBs to provide electrical structures to accommodate EV chargers. Other cities are expected to follow suit in the coming months and years, making this announcement especially timely.
The partnership between Bectrol and SWTCH follows on the heels of SWTCH’s 2022 roaming agreement with Electric Circuit, the largest public EV charging network in Québec. As a result, SWTCH and Electric Circuit account owners gained the ability to charge on either network, granting SWTCH drivers an additional 3,800 chargers, including 600 fast-charging stations; meanwhile, Electric Circuit drivers gained access to an additional 2,750 chargers at multi-tenant properties across North America.
About SWTCH Energy Inc.
Headquartered in Toronto, Ontario, with offices in Brooklyn and Boston, SWTCH is pioneering EV charging solutions for multifamily and commercial properties across North America. SWTCH leverages the latest technology available to help building owners and operators deploy EV charging by tapping into their existing grid infrastructure. Through constant innovation and an extensive partnership network, SWTCH provides the most profitable and unique business model for multi-tenant buildings to stay competitive. For more information, visit www.swtchenergy.com.
About Bectrol Electrification
Headquartered in Saint-Hyacinthe, Québec, Bectrol was created in 1979 and consists of a team of 90 dedicated people in industrial automation and manufacturing of control panels. Bectrol Electrification has become a leader in transportation electrification projects across Quebec, with specifically more than 9 years of experience installing EV charging projects. Bectrol offers a turnkey experience for EV charging projects of all sizes – taking clients from the initial design phase, all the way to installation and on-going maintenance. For more information, visit www.bectrolelectrification.com.
Media
Isabelle Hawkes
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HALIFAX, Nova Scotia--(BUSINESS WIRE)--Today Emera (TSX: EMA) announced that it will release its Q4 2022 results on Thursday, February 23, 2023, before markets open. The Company will host a teleconference and webcast the same day at 9:30 a.m. Atlantic (8:30 a.m. Eastern) to discuss the results.
Analysts and other interested parties in North America are invited to participate by dialing 1-888-886-7786. International parties are invited to participate by dialing 1-416-764-8658. Participants should dial in at least 10 minutes prior to the start of the call. No pass code is required.
A live and archived audio webcast of the teleconference will be available on the Company's website, www.emera.com. A replay of the teleconference will be available on the Company’s website two hours after the conclusion of the call.
About Emera Inc.
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $36 billion in assets and 2021 revenues of more than $5.7 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in three Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.
Emera Inc.
Investor Relations
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Non-Dilutive Funding and Energization Plan in Motion
ALBANY, N.Y.--(BUSINESS WIRE)--Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for Bitcoin mining and other intensive computing has reached an understanding with certain strategic parties and executed a non-binding Letter of Intent to raise sufficient capital to energize Dorothy 1A and 1B. Should the transactions close as contemplated, they would not require the Company to issue equity.
The components of the transactions include a sale of a portion of the Company’s equity interests in Project Dorothy as well as a modest loan against the project.
Project Dorothy, the Company’s 50 MW facility in Texas is rapidly proceeding to an energization date with its regulators as it moves to close these strategic transactions.
Michael Toporek, CEO of Soluna Holdings, stated, “We continue to focus our efforts to energize Project Dorothy, our flagship project in Texas. Moving through the regulatory process has been a critical catalyst for us to now raise the appropriate financing to energize the site.”
Project Dorothy is anticipated to be one of the lowest-cost facilities of its kind in North America.
About Soluna Holdings, Inc (SLNH)
Soluna Holdings, Inc. is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as Bitcoin mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna uses technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’
For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.
Sam Sova
VP, Marketing and Investor Relations
Soluna Computing, Inc.
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil Corporation will release fourth quarter 2022 financial results on Tuesday, January 31, 2023. A press release will be issued via Business Wire and available at 5:30 a.m. CT at www.exxonmobil.com.
Darren Woods, chairman and chief executive officer; Kathy Mikells, senior vice president and chief financial officer; and Jennifer Driscoll, vice president of investor relations, will review the results during a live, listen-only conference call at 7:30 a.m. CT. The presentation can be accessed via webcast or by calling (888) 596-2592 (United States) or (786) 789-4790 (International). Please reference confirmation code 5143665 to join the call. An archive replay of the call and a copy of the presentation with accompanying supplemental financial data will be available at www.exxonmobil.com/ir.
ExxonMobil Media Relations
(972) 940-6007
Simulation software vendor expands reach, brings cutting-edge decision-making technology to enterprise clients
LYON, France--(BUSINESS WIRE)--Cosmo Tech, the world’s leading developer of Simulation Digital Twin technology, has welcomed two new investments from global professional services company Accenture and Sam George, former Corporate Vice President at Microsoft. Mr. George has also joined the Cosmo Tech Board.
In an era where uncertainty reigns and where organizations seek resilience in the face of global shocks, Accenture and Cosmo Tech’s collaboration is built on a common vision on the best way to ensure robust, proactive decision-making. The combination of Cosmo Tech’s advanced simulation technology and Accenture’s technology expertise and industry experience can unlock enormous value for enterprise organizations in today’s complex world.
Cosmo Tech helps corporations in the manufacturing, supply chain and energy sectors to address their most pressing asset, investment, and operational challenges. With partners that include Microsoft and SAS, Cosmo Tech already counts Europe's largest electricity transmission network, the cable and optical fiber leader and some of the world’s largest manufacturers of automotive and computer products among its clients. The simulation twin specialist is now delivering value worldwide and can deploy its solutions rapidly to clients globally, adding value in a reduced timeframe.
Recently retired after a 25-year career at Microsoft, most notably as Corporate Vice President leading the Azure IoT division, Mr. George joins the Cosmo Tech board, bringing deep knowledge of the complex corporate challenges that the world’s largest organizations face and the ways that Simulation Digital Twins can address those challenges. His insights into cloud technology, digital twins, simulation and data analytics and his extensive professional network are unique assets that Cosmo Tech will leverage as it continues its growth.
Hugues de Bantel, Co-Founder and CEO of Cosmo Tech, explained, “We are thrilled to welcome Accenture and Sam George as investors in Cosmo Tech, and to welcome Sam to our Board, too. Their vote of confidence in Cosmo Tech and our game-changing simulation twin technology will help us to create outstanding value for organizations across multiple industries as they seek profitability, productivity, and sustainability in an uncertain time.”
Michel Morvan, Co-Founder and Executive Chairman of Cosmo Tech, added, “Investments from Accenture and Sam George in our technology are further proof that the future of industrial decision-making is simulation. We look forward to drawing on Accenture’s global footprint and Sam’s deep expertise to deliver our advanced simulation technology and capabilities to enterprise the world’s most complex organizations.”
“Accenture and Cosmo Tech’s partnership is built on a common vision of enterprise reinvention by using data and technology to create new ways to engage with customers and build new opportunities for growth,” said Tom Lounibos, Managing Director, Accenture Ventures. “Accenture’s reach and capabilities will extend Cosmo Tech’s digital twin simulation technology to our clients across the world, helping them to optimize planning and become more resilient.”
“I’ve worked with many companies in the simulation and digital twin space and there's no one like Cosmo Tech,” added Sam George. “The world of business has grown so complex that decision-makers are swimming in a sea of uncertainty from the huge number of constraints and variables they have to consider. Decision-makers need help finding the few good choices from the millions of bad ones they could make - and simulation is the missing piece that provides that help. Simulation generates the outcome of millions of possible decisions so leaders can quickly find the best one with confidence. Cosmo Tech has already demonstrated this with large customers in very complex spaces and there's really no one like them. I'm convinced that moving forward, companies that use simulation-assisted decision-making will have a huge competitive advantage over those that don't."
A European tech success story, Cosmo Tech announced its Series A fundraising round in 2014, a Series B fundraising round in 2018. The second phase of its Series C round, already joined by existing investors Inven Capital and Cemag Invest, is scheduled to close on March 31, 2023.
About Cosmo Tech
Cosmo Tech designs Simulation Digital Twin software to solve the most complex industrial problems and lead enterprise decision making. This next-gen hybrid AI technology provides 360° simulation that predicts the evolution of an organization in uncertain environments to better understand the impact of decisions and to optimize all levels of enterprise planning. With this 360° view of the organization, decision makers can run unlimited scenarios to anticipate all possible futures even under conditions that have never occurred before. Leading companies from the manufacturing, automotive, energy, and transport sectors rely on Cosmo Tech scalable solutions to ensure a future that is robust, resilient, and sustainable.
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No Shareholder Action Required at this Time
Management Remains Focused on Delivering Long Term Value for Shareholders
STAMFORD, Conn.--(BUSINESS WIRE)--Pitney Bowes (NYSE:PBI, the “Company” or “Pitney Bowes”), a global shipping and mailing company that provides technology, logistics, and financial services, today acknowledged receipt of Hestia Capital’s (“Hestia”) notice of nomination of seven director candidates, constituting a majority slate of director candidates, to the Pitney Bowes Board of Directors (the “Board”) in connection with the Company’s upcoming annual meeting of shareholders.
Consistent with its fiduciary duty to shareholders and the Company’s governing documents, the Board will review any properly noticed nominations in due course. Shareholders are not required to take any action at this time.
The Board and management team have engaged in an open and good faith dialogue with Hestia over many months. Contrary to Hestia’s assertion, Pitney Bowes is always interested in considering well-qualified candidates to join the Board. Moreover, the Board offered to appoint two candidates proposed by Hestia to the Board in December. However, Hestia was unwilling to reach a reasonable compromise. Instead, both their current and prior public announcements demonstrate that they are more interested in fighting than in engaging in constructive conversations to benefit all shareholders, not just themselves. Furthermore, throughout discussions with Hestia, they demonstrated a fundamental misunderstanding of the Company and have failed to articulate a strategy that would justify ceding control of the Company to them.
Pitney Bowes will continue to seek the right path forward that is in the best interests of all shareholders, including potential additions of well qualified candidates to the Board of Directors. The Company will not let Hestia’s unwillingness to seek common ground stand in the way.
The Board and management team remain focused on delivering sustainable future value for all stakeholders and executing the strategy of the Company. As CEO over the past decade, Mr. Lautenbach has overseen and directed fundamental transformation of the business, taking decisive actions to create long-term value for shareholders, and laid the foundation for sustainable, profitable growth. These actions are expected to drive revenue and EBIT growth over the next several years and the Company has seen investments in SendTech and Presort lead to stabilization and indeed potential for growth. Although results in Global Ecommerce have not progressed at the pace hoped for, over the last year the Company has seen significant improvements in run rate volumes, service levels, and cost, all of which bode well for future success.
The Board and the Company have consistently looked for opportunities to unlock shareholder value. This includes proactively looking for opportunities and reacting to inbound inquiries alongside financial and legal counsel. The sale of Borderfree in 2022 demonstrates the foresight and willingness of the Company’s leadership team to be flexible and open to new ideas and opportunities regarding how best to monetize the business.
Pitney Bowes has a strong, engaged, and diverse Board, with a balanced mix of experience, skills, and leadership expertise to enhance value for shareholders. The Board is made up of nine directors, eight of whom are independent, and has seen significant refreshment over the past several years, with five longer tenured directors stepping down and adding three new directors since 2018.
Throughout this process, shareholder value creation remains the top priority for the Company and Board, and the Company will continue to keep shareholders updated as appropriate.
About Pitney Bowes
Pitney Bowes is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For additional information, visit: www.pitneybowes.com.
Forward-Looking Statements
This document contains “forward-looking statements” about the Company’s expected or potential future business and financial performance. Forward-looking statements include, but are not limited to, statements about future revenue and earnings guidance and future events or conditions. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from those projected. In particular, we continue to navigate the impacts of the Covid-19 pandemic (Covid-19) as well as the risk of a global recession, and the effects that they may have on our and our clients’ business. Other factors which could cause future financial performance to differ materially from expectations, and which may also be exacerbated by Covid-19 or the risk of a global recession or a negative change in the economy, include, without limitation, declining physical mail volumes; changes in postal regulations or the operations and financial health of posts in the U.S. or other major markets or changes to the broader postal or shipping markets; the loss of, or significant changes to, United States Postal Service (USPS) commercial programs, or our contractual relationships with the USPS or USPS’s performance under those contracts; our ability to continue to grow and manage volumes, gain additional economies of scale and improve profitability within our Global Ecommerce segment; changes in labor and transportation availability and costs; and other factors as more fully outlined in the Company’s 2021 Form 10-K Annual Report and other reports filed with the Securities and Exchange Commission. Pitney Bowes assumes no obligation to update any forward-looking statements contained in this document as a result of new information, events or developments.
Third-Party Information
This press release may contain or refer to news, commentary and other information relating to Pitney Bowes generated by, or sourced from, persons or companies that are not affiliated with Pitney Bowes. The author and source of any third-party information and the date of its publication are clearly and prominently identified. Pitney Bowes has neither sought nor obtained the consent from any third party, including, without limitation, Hestia Capital Management, LLC (together with its affiliates, “Hestia”), to use any statements or information contained in this press release that have been obtained or derived from statements made or published by such third parties. Any such statements or information should not be viewed as indicating the support of such third parties for the views expressed herein.
Additional Information and Where to Find It
In connection with the forthcoming solicitation of proxies from stockholders in respect of Pitney Bowes’s 2023 annual meeting of stockholders, Pitney Bowes will file with the U.S. Securities and Exchange Commission (the “SEC”) a proxy statement on Schedule 14A (the “proxy statement”), containing a form of GOLD proxy card. Details concerning the nominees of Pitney Bowes’s Board of Directors for election at Pitney Bowes’s 2023 annual meeting of stockholders will be included in the proxy statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ ALL RELEVANT DOCUMENTS, INCLUDING PITNEY BOWES’S PROXY STATEMENT AND ANY AMENDMENTS AND SUPPLEMENTS THERETO AND ACCOMPANYING GOLD PROXY CARD, FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN, OR WILL CONTAIN, IMPORTANT INFORMATION ABOUT PITNEY BOWES. Stockholders may obtain free copies of the proxy statement and other relevant documents that Pitney Bowes files with the SEC on Pitney Bowes’s website at www.pitneybowes.com or from the SEC’s website at www.sec.gov.
Participants in the Solicitation
This press release is neither a solicitation of a proxy or consent nor a substitute for any proxy statement or other filings that may be made with the SEC. Pitney Bowes, its directors and certain of its executive officers will be participants in the solicitation of proxies from stockholders in respect of Pitney Bowes’s 2023 annual meeting of stockholders. Information regarding certain of the directors and officers of Pitney Bowes is contained in Pitney Bowes’s proxy statement for its 2022 annual meeting of stockholders, which was filed with the SEC on March 18, 2022. To the extent holdings of Pitney Bowes’s securities by directors or executive officers have changed since the amounts set forth in Pitney Bowes’s 2022 proxy statement, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3, Statements of Change in Ownership on Form 4 or Annual Statement of Beneficial Ownership on Form 5 filed with the SEC. Additional information regarding the identity of potential participants and their respective interests, by security holdings or otherwise, will be included in Pitney Bowes’s proxy statement and other relevant documents filed with the SEC in connection with Pitney Bowes’s 2023 annual meeting of stockholders.
Company Contact:
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Bill Hughes
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Investors
Ned Zachar
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