Business Wire News

WASHINGTON & CHICAGO--(BUSINESS WIRE)--Nodal Exchange and IncubEx announced today the successful launch of the Washington Carbon Allowance (WCA) futures contract, along with the first trade in the contract, on December 5th.


Participating firms supporting the WCA contract on the 5th included: Shell Energy North America (US), L.P. (“Shell Energy”), Mercuria Energy America (“Mercuria”), and broker, BGC Financial L.P (“BGC”).

Nodal Exchange posted volume of 25 lots of Washington Carbon Allowance futures, equivalent to 25,000 WCAs at a price of $35.00/MT for December 2023 delivery. The Nodal WCA futures contract is the first exchange-listed and cleared contract corresponding with the Washington carbon “Cap-and-Invest” program, the newest carbon market in North America. The Cap-and-Invest program, set to commence compliance obligations on January 1, 2023, will gradually cover about 75% of the state's CO2 emissions. The futures contracts call for delivery of Washington Carbon Allowances in the Washington Compliance Instrument Tracking System Services (CITSS) registry.

The program aims to lower CO2 emissions 45% below 1990 levels by 2040 and 95% below 1990 levels, reaching net-zero carbon emissions by 2050 as set by the Washington state's Climate Commitment Act.

The WCA futures contract joins the slate of environmental products on Nodal Exchange including futures and options for the Western Climate Initiative and RGGI carbon, Renewable Fuels including RINS, LCFS and OCFP, a slate of voluntary offset contracts, as well as 45 different REC markets. Open interest in North American environmental market futures and options on Nodal has surpassed 220,000 lots, up 30% year over year.

"Shell Energy has a long history of environmental market participation and is pleased to support the launch of the Washington Carbon Allowance futures on Nodal, which is an important milestone in the Washington Cap-and-Invest program," said Bill McGrath, Shell Energy’s General Manager for Global Environmental Products.

“As a longstanding participant in compliance carbon markets in the Western US , Mercuria is excited to provide market leadership via participation and liquidity provision in this nascent market,” said Adam Raphaely, Managing Director of Trading for Mercuria Energy America, LLC.

“BGC is pleased to be a part of the first allowance futures trade in Washington state’s new carbon market. As a longstanding participant in global carbon markets, BGC has been at the forefront of facilitating liquidity and trade execution in these markets. The listing of futures is a key milestone, allowing market participants to effectively hedge price risk. Carbon markets continue to be a vital policy instrument in the energy transition to a sustainable future,” said John Battaglia, Managing Director and Global Head of Carbon Markets for BGC.

"The global carbon market continues to grow and the strong interest in the Washington carbon market is another example," said Dan Scarbrough, President and COO at IncubEx. "Seeing Shell Energy, Mercuria and BGC be first-movers in the Washington carbon market on a regulated exchange is no surprise given their track record of leadership in environmental markets. We expect this and other North American environmental markets to continue their impressive growth with the support of these leading companies."

"Nodal and IncubEx continue to develop pioneering products that meet the needs of our customers in the environmental space," said Paul Cusenza, CEO of Nodal Exchange. "These new contracts extend the broadest suite of exchange-listed environmental products in the world and demonstrate our continued commitment to innovation that addresses climate change."

ABOUT INCUBEX

IncubEx is an incubator for exchange traded products, services, and technology solutions. At its core, IncubEx is a product and business development firm. The company works in conjunction with its global exchange partner, European Energy Exchange (EEX), Nodal Exchange and other leading service providers and stakeholders to design and develop new financial products in global environmental, reinsurance, and related commodity markets. The company has a specific focus on innovation and continuous improvement of products and services, including technology, trading solutions, and operational efficiencies. The IncubEx team is led by former key Climate Exchange executives and is uniquely positioned to capture these opportunities with its partners. The company was founded in 2016 and currently has offices in Chicago and London. See more at www.theincubex.com.

ABOUT NODAL

Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American commodities markets. Nodal Exchange is a leader in innovation, having introduced the world’s largest sets of electric power and environmental futures and options contracts. As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. In addition, Nodal Exchange offers natural gas contracts. All Nodal Exchange contracts are cleared by Nodal Clear which is a CFTC registered derivatives clearing organization. Nodal Exchange is a designated contract market regulated by the CFTC. For more information, please visit www.nodalexchange.com.


Contacts

PRESS:

IncubEx
Jim Kharouf
Communications Director
P: 773-391-0439
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Nodal Exchange
Nicole Ricard
Public Relations
P: 703-962-9816
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Contracts include important design and future fabrication activities, critical to NuScale’s small modular reactor (SMR) technology delivery

PORTLAND, Ore.--(BUSINESS WIRE)--NuScale Power, LLC (NuScale) announced today it has awarded two new contracts to Framatome to design fuel handling equipment and fuel storage racks for NuScale’s VOYGR™ SMR power plant. This marks a critical supply chain and manufacturing development step, as NuScale fulfills customers’ project timelines to deploy its groundbreaking technology by the end of the decade.


NuScale is proud to strengthen our relationship with Framatome, a renowned and widely respected international leader in nuclear energy,” said Dale Atkinson, NuScale Chief Operating Officer and Chief Nuclear Officer. “This agreement showcases how NuScale’s technology is meticulously developed with a premier international nuclear design and fabrication organization.”

Framatome will be partnering with American Crane and Orano to design and adapt its existing fuel handling equipment and high-density spent fuel storage rack designs to meet the needs of a NuScale VOYGR power plant. These organizations will develop optimal design and fabrication of this equipment in line with the VOYGR plant deployment schedule.

These awards build on our partnership as NuScale’s fuel assembly supplier and signify an important opportunity with NuScale and its industry-leading VOYGR power plant,” said Catherine Cornand, senior executive vice president of the Installed Base business unit at Framatome. “We are deeply rooted in the nuclear industry with proven expertise to assist in developing the next generation of advanced nuclear plants for a transition to clean energy.”

This announcement sustains the momentum between NuScale and Framatome, which began in 2014. Through this expanded partnership, the pair will continue to work together on existing fuel design and other engineering and licensing scopes of work, utilizing our combined expertise throughout the commercialization and deployment of NuScale’s VOYGR plants.

About NuScale Power

NuScale Power (NYSE: SMR) is poised to meet the diverse energy needs of customers across the world. It has developed small modular reactor (SMR) nuclear technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production, and other process heat applications. The groundbreaking NuScale Power Module™ (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. NuScale’s 12-module VOYGR™-12 power plant is capable of generating 924 MWe, and NuScale also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs.

Founded in 2007, NuScale is headquartered in Portland, Ore., and has offices in Corvallis, Ore.; Rockville, Md.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power's website or follow us on Twitter, Facebook, LinkedIn and Instagram.

About Framatome

Framatome is an international leader in nuclear energy recognized for its innovative, digital and value added technologies for the global nuclear fleet. With worldwide expertise and a proven track record for reliability and performance, the company designs, services and installs components, fuel, and instrumentation and control systems for nuclear power plants. Its more than 16,000 employees work every day to help Framatome’s customers supply ever cleaner, safer and more economical low-carbon energy. Visit us at www.framatome.com, and follow us on Twitter and LinkedIn. Framatome is owned by the EDF Group (75.5%), Mitsubishi Heavy Industries (MHI – 19.5%) and Assystem (5%).

Forward Looking Statements

This release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties and assumptions. Actual results may differ materially as a result of a number of factors. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, NuScale’s results may differ materially from its expectations and projections. NuScale specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing NuScale’s assessments as of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.


Contacts

Media Contacts
Diane Hughes, Vice President, Marketing & Communications, NuScale Power
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(C) (503) 270-9329

Framatome
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The 2022 annual report encourages collaboration and transparency to support the long-term growth of the renewable energy industry


SAN FRANCISCO--(BUSINESS WIRE)--#solardata--kWh Analytics, the market leader in Climate Insurance and renewable energy risk management, today released their 2022 Solar Generation Index report. Utilizing operating data provided by industry collaborators and their proprietary Heliostats database, the company identified a persistent pattern of solar asset underproduction across the country.

This year’s report finds that solar assets broadly continued to perform well below expectations, with 2021 operational data showing nearly 8% average underproduction on a weather adjusted basis. Furthermore, the report breaks down project performance by vintage and operational year to highlight the fact that projects constructed after 2015 have missed P50 estimates by 7-13% in their first year of operation, a clear regression compared to production data from earlier vintages. For the first time, the 2022 report also evaluates asset performance as a function of project capacity and mount type, showing that the underperformance trend has not been isolated to any specific group of projects.

“Underperformance affects investors and lenders critical to the success and growth of solar projects,” said Jason Kaminksy, CEO of kWh Analytics. “As an industry, we must collaborate to find ways to course-correct in order to ensure the industry’s long-term financial health.”

The passage of the Inflation Reduction Act has renewed interest in zero-carbon energy assets, and the solar industry alone is expected to expand by nearly 40% over the next five years. To achieve sustainable growth and secure access to necessary capital investment, solar assets will need to exhibit financial health and stability.

“It is imperative that we continue to support the long-term success of the renewable energy sector,” said Jason Kaminksy, CEO of kWh Analytics. “To de-risk investments into zero-carbon assets and encourage resilience throughout the industry, sponsors and lenders should consider accurately priced risk-transfer products, be wary of aggressive production forecasts, and be collaborative with stakeholders to encourage data sharing.”

kWh Analytics generates this index to promote transparency and discussion within the industry. The goal is to provide stakeholders with the necessary data to continue developing and operating solar projects that ensure the industry’s continued growth, and ultimately work together towards a decarbonized future.

ABOUT kWh Analytics

kWh Analytics is a leading provider of Climate Insurance for zero carbon assets. Utilizing their proprietary database of over 300,000 operating renewable energy assets, kWh Analytics uses real-world project performance data and decades of expertise to underwrite unique risk transfer products on behalf of insurance partners. kWh Analytics has recently been recognized on FinTech Global’s ESGFinTech100 list for their data and climate insurance innovations. The Solar Revenue Put production insurance protects against downside risk and unlocks preferred financing terms, and the Renewable Energy Property Product offers comprehensive coverage against physical loss. These offerings, which have insured over $4 billion of assets to date, aim to further kWh Analytics’ mission to provide best-in-class Insurance for our Climate. To learn more, please visit https://www.kwhanalytics.com/, connect with us on LinkedIn, and follow us on Twitter.


Contacts

Nikky Venkataraman
Marketing Manager
kWh Analytics
E | This email address is being protected from spambots. You need JavaScript enabled to view it.
T | (720) 588-9361

HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that its wholly owned subsidiary, Cheniere Corpus Christi Holdings, LLC (“CCH”), will redeem all of its 7.000% Senior Secured Notes due 2024 (CUSIP Numbers 16412X AD7, 16412X AA3) (the “Notes”) outstanding on January 5, 2023 (the “Redemption Date”).


CCH will redeem the Notes at a make-whole redemption price based on the treasury rate plus 50 basis points.

Cheniere has instructed The Bank of New York Mellon, the trustee for the Notes, to distribute a notice of redemption to all registered holders of the Notes. The Notes must be surrendered to The Bank of New York Mellon, to collect the redemption price pursuant to the notice of redemption.

This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meanings 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 or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, statements regarding Cheniere’s business strategy, plans and objectives, including statements regarding CCH’s intent to redeem the Notes. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.


Contacts

Cheniere Contacts

Investors
Randy Bhatia
713-375-5479
Frances Smith
713-375-5753

Media Relations
Eben Burnham-Snyder
713-375-5764
Phil West
713-375-5586

Customers enrolling in the ConEd ecosave program to receive a free ecobee3 lite to support a more reliable electrical grid and help save on rising energy costs

TORONTO--(BUSINESS WIRE)--ecobee, a subsidiary of Generac Power Systems (NYSE: GNRC), today announced it is offering a free ecobee3 lite smart thermostat ($149.99 value) or $100 off the brand-new Smart Thermostat Premium (regular price $249.99) to eligible ConEd customers in Westchester County, New York for a limited time when they enroll in the ConEd ecosave program by March 31, 2023. ConEd ecosave is a voluntary energy saving program from ecobee that helps support a more stable and reliable power grid in local communities when energy is in high demand.


Customers who switch to an ecobee smart thermostat and enroll in the ConEd ecosave program can also help reduce their families’ energy costs, which are predicted to rise. According to recent ConEd estimates, the average Westchester County customer's electricity bill is expected to rise by 27% this winter, from $160 last year to $203, due to increases in the market cost of natural gas. And, the average residential natural gas heating customer will pay $460 a month from November 2022 to March 2023, compared to the $348 average last year.¹ ecobee smart thermostats can help alleviate these rising energy costs and help customers save up to 26% on their annual heating and cooling costs.²

“At ecobee, we remain committed to offering innovative smart home solutions that address real problems customers are facing, such as rising energy bills caused by inflation, and grid stability challenges caused by periods of high demand on the power grid,” said Tamara Dzubay, Director, Energy and Emerging Markets at ecobee. “We’re excited to offer a free ecobee3 lite or $100 off the brand-new Smart Thermostat Premium to help customers in Westchester County conserve energy and save money without sacrificing their comfort.”

In 2022 alone, ecobee helped customers save 5.28TWh of energy, which is the equivalent of taking over 800,000 gas-powered cars off the road for one year or avoiding the consumption of 421 million gallons of gasoline.

ConEd customers in Westchester County who already have an ecobee smart thermostat can receive a $100 digital gift card by enrolling in the ConEd ecosave program in the ecobee app. For ecobee and ConEd customers not in the Westchester County area, they are invited to enroll in the program through the ecobee app for a chance to win one of two $2,500 prizes.

To order a free ecobee3 lite or $100 off the Smart Thermostat Premium with enrollment in the ConEd ecosave program, visit coned.ecobee.com

For full details on the ConEd ecosave program, visit ecobee.com/coned-ecosave.

¹Con Edison Offering Assistance As Energy Market Prices Surge.” Con Edison. Sep. 9, 2022.

² Compared to a hold of 72°F/22°C. By enabling eco+ smart features, an ecobee smart thermostat can help customers save up to 26% or $284 on their annual heating and cooling costs. Annual savings vary based on energy use.

About ecobee

ecobee Inc. was founded in 2007 with a mission to improve everyday life while creating a more sustainable world. Since launching the world’s first smart thermostat in 2009, ecobee has helped customers across North America save nearly 28 TWh of energy, which is the equivalent of taking all the homes in Los Angeles and Chicago off the grid for a year. Today, ecobee continues to innovate with smart home solutions that solve everyday problems with comfort, security, and conservation in mind. With ecobee’s products, including the Smart Thermostat Premium and its Smart Security home monitoring system, ecobee continues to encourage Smart Owners to imagine what home could be. In 2021, ecobee joined Generac Holdings Inc. (NYSE: GNRC), a leading global designer and manufacturer of energy technology solutions, and other power products. Generac and ecobee share a vision to deliver a cleaner and more sustainable energy future for customers and communities. The Generac and ecobee home of the future will be more comfortable, resilient, and efficient. For more information, visit ecobee.com.


Contacts

Press:
Fatima Reyes, Senior Communications Manager, ecobee
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DALLAS--(BUSINESS WIRE)--Energy Transfer LP (NYSE: ET) today announced the pricing of its $1.0 billion aggregate principal amount of 5.550% senior notes due 2028 and $1.5 billion aggregate principal amount of 5.750% senior notes due 2033 at a price to the public of 99.974% and 99.891%, respectively, of their face value.


The sale of the senior notes is expected to settle on December 14, 2022, subject to the satisfaction of customary closing conditions. Energy Transfer intends to use the net proceeds of approximately $2.482 billion (before offering expenses) from this offering to repay outstanding indebtedness, and for general partnership purposes.

Barclays Capital Inc., BofA Securities, Inc., Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.

The offering of the senior notes is being made pursuant to an effective shelf registration statement and prospectus filed by Energy Transfer with the Securities and Exchange Commission (“SEC”). The offering of the senior notes may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended, copies of which may be obtained from the following addresses:

Barclays Capital Inc.

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York 11717

Phone: 1-888-603-5847

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

   

Deutsche Bank Securities Inc.

1 Columbus Circle

New York, New York 10019

Attention: Prospectus Group

Phone: 1-800-503-4611

E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

BofA Securities, Inc.

200 North College Street

NC1-004-03-43

Charlotte, North Carolina 28255-001

Attn: Prospectus Department

Phone: 1-800-294-1322

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

   

Wells Fargo Securities, LLC

608 2nd Avenue South

Suite 1000

Minneapolis, Minnesota 55402

Attn: WFS Customer Service

Phone: 1-800-645-3751

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

You may also obtain these documents for free when they are available by visiting EDGAR on the SEC website at www.sec.gov.

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

Energy Transfer LP owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (“NGL”) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC).

Statements about the offering may be forward-looking statements. Forward-looking statements can be identified by words such as “anticipates,” “believes,” “intends,” “projects,” “plans,” “expects,” “continues,” “estimates,” “goals,” “forecasts,” “may,” “will” and other similar expressions. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of Energy Transfer, and a variety of risks that could cause results to differ materially from those expected by management of Energy Transfer. Important information about issues that could cause actual results to differ materially from those expected by management of Energy Transfer can be found in Energy Transfer’s public periodic filings with the SEC, including its Annual Report on Form 10-K. Energy Transfer undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.


Contacts

Energy Transfer LP
Investor Relations:
Bill Baerg, Brent Ratliff, Lyndsay Hannah, 214-981-0795
or
Media Relations:
Vicki Granado, 214-840-5820

Aligned With the Paris Agreement and Approved by the Science Based Targets Initiative (SBTi), JetBlue Commits to Reduce Jet Fuel Emissions 50% Per Revenue Tonne Kilometer by 2035 From 2019 Levels

JetBlue’s Most Aggressive Near-term Emissions Target Will Require an Increased Focus on Lower-carbon Solutions Within Its Operation and Can Only Be Successful with Industry and Policy Support

NEW YORK--(BUSINESS WIRE)--JetBlue (Nasdaq: JBLU) today announces a science-based target approved by the Science Based Targets initiative (SBTi), a coalition that defines and promotes best practices in emissions reduction targets. With this target, JetBlue commits to reducing well-to-wake (lifecycle) scope 1 and 3 greenhouse gas (GHG) emissions related to jet fuel by 50% per revenue tonne kilometer (RTK) by 2035 from a 2019 base year1. JetBlue’s most aggressive near-term emissions reduction target to-date, this science-based target aligns with the goals of the Paris Agreement and the growing airline’s own goal to reach net zero carbon emissions by 2040 – 10 years ahead of broader airline industry targets. Aligned with SBTi requirements, JetBlue will also regularly review and update this target following any significant change to JetBlue's business or structure.



To meet this aggressive near-term target, the airline will increase its investments in lower-carbon solutions within its operation​ and will evaluate future sustainability investments with its science-based target in mind. JetBlue also recognizes how critical external partners are to decarbonizing the aviation industry and is committed to encouraging and supporting efforts by aircraft and engine manufacturers, governments, regulatory agencies, and fuel suppliers to realize their own GHG emission reduction goals.

“Effectively cutting our per-seat emissions in half will require substantial change to the way we run our business today,” said Robin Hayes chief executive officer, JetBlue, “Our team is fully committed to hitting the goal, but we can’t do it alone. We are calling on governments, aircraft and engine manufacturers, and fuel producers to support the development of the products and solutions that airlines need to achieve our ambitious goals.”

Charting a path to net zero

JetBlue further illustrates its path to achieving its 2035 and net zero goals and contributing factors with its JetBlue Projected Emissions Reduction Pathway (graphic attached). Sustainable aviation fuel (SAF) is expected to be the key contributor to large-scale lifecycle emissions reduction, which is highly dependent on availability and costs of supply. Advancements in aircraft technology and fuel efficiency represent the second-most significant opportunity for emissions reduction. This includes efficiencies from the airline’s transition to newer and more advanced aircraft, the incremental improvements for aircraft delivered in subsequent years, as well as the potential for broader efficiency improvements for next generation aircraft yet to be developed, but anticipated to be commercially available by the late 2030s or early 2040s. Procedural optimization via Air Traffic Control (ATC) modernization led by the Federal Aviation Administration (FAA) and fine-tuning of the airline’s own operations will also significantly contribute to further emissions reductions. Finally, investing in high-quality carbon removals and offsets is expected to play a role in addressing emissions the airline is unable to avoid. JetBlue is committed to prioritizing the lower-carbon solutions within its operation first, to drive down the need for carbon credits as much as possible.

“The aviation industry is at a critical time in our push towards net zero. Many of these lower carbon solutions are proven, but still haven’t achieved the scale needed to make a meaningful impact,” said Sara Bogdan, director of sustainability and environmental social governance, JetBlue. “Encouragement of these maturing technologies is needed and the investments we make today will help shape the trajectory of these solutions as they grow to realize their fullest potential.”

Since 2020 when the airline first outlined its net zero goal, JetBlue has made significant headway in its own sustainability efforts.

Reducing Fuel Burn

JetBlue operates a robust fuel savings strategy that starts with a young, fuel-efficient fleet that reduces emissions from fuel burn, from the outset. Its growing fleet of Airbus A321neo aircraft are improving fuel economy by approximately 20%. Further, JetBlue continues to take delivery of Airbus A220s, reducing emissions by up to 35% per seat compared to the aircraft they are replacing. To support fuel efficiency and cost goals, JetBlue is accelerating the retirement of its E190 fleet, with the final E190 aircraft scheduled to exit the fleet in 2025. And to ensure all aircraft are flown efficiently, JetBlue also operates a cross functional Fuel Optimization Team targeting a range of procedural and technology shifts that maximize the efficiency of its flight operations. Due to JetBlue’s fleet and fuel optimization initiatives, the airline is on pace to achieve a 6% improvement in emissions per available seat mile (ASM) in 2022 versus 2019 flying.

Further emissions reductions can be achieved by looking at operational airspace and JetBlue continues to advocate for air traffic control modernization (NextGen) efforts. Current Air Traffic Control inefficiencies account for as much as 12% of fuel burn and resulting emissions. One of the most impactful ways to help reduce airline emissions across the industry is transitioning the United States’ aging radar technology with GPS based technology, which would allow for greater efficiency, more consistent flight planning, and as an added benefit, improved on-time performance for all travelers.

To reduce the impact on the ground, JetBlue set a public goal to convert 40% of its three most common ground service vehicle types to electric by 2025 and 50% to electric by 2030. In 2019, JetBlue rolled out the largest electric fleet of any carrier at John F. Kennedy International Airport with 118 electric vehicles and continues to roll out electric ground service equipment at other airports including Boston Logan, the airline’s second largest city, and Newark Liberty International Airport.

Transitioning to Sustainable Aviation Fuel (SAF)

JetBlue views SAF as the most promising avenue for addressing aviation emissions in a meaningful and rapid way – once cost-effective SAF is made available commercially at scale. SAF is a type of renewable fuel that exists today that drops directly into existing aircraft and infrastructure with no impact to safety or performance. SAF can be produced from a wide array of renewable sources such as agricultural wastes and used cooking oils—not fossil fuels—and can lower lifecycle greenhouse gas emissions by roughly 80% compared to traditional petroleum-based fuels.

Supporting and growing SAF availability is critical to reaching larger industry goals and JetBlue continues to do its part to encourage a diverse and competitive SAF market. The shared focus is necessary to build the economies of scale needed to compete with traditional fuel sources. Since 2020, JetBlue has continued to secure immediate as well as future supplies of SAF on its path to convert 10% of the airline’s total fuel to be SAF by 2030.

Since 2020, JetBlue has been flying regularly using SAF from its California airports in Los Angeles and San Francisco, partnering with both currently available SAF suppliers in the U.S., Neste and World Energy. To further encourage a vibrant and competitive market, in 2022 alone, JetBlue has signed agreements with three additional SAF producers for future supply: Aemetis, AIR COMPANY, and Fidelis New Energy. While its 2021 agreement with SG Preston has been terminated, JetBlue will continue to look at future SAF partnerships to grow its SAF portfolio, with a particular interest in encouraging SAF in its Northeast focus cities.

Through these existing and future SAF offtake agreements, JetBlue seeks to build a diversified portfolio of future SAF suppliers and feedstocks while continuing to send the message that strong demand for SAF exists.

Advancing the Future of Flight

The airline’s subsidiary, JetBlue Ventures (JBV), continues to invest in and partner with early-stage startups improving travel and hospitality, including those in the sustainable travel space. Referred to as, “the most active startup investor across all airlines in green aviation technologies,” JBV has invested in seven direct and three adjacent sustainability companies to date. The team explores advanced methods of measuring and reducing emissions, technologies that improve environmental protections and encourage sustainable tourism, and game-changing transportation powered by alternative propulsion systems like electric or hydrogen powered commercial aircraft. Most recently, JBV announced an investment in Rubicon Carbon, a next generation carbon solutions provider also backed by TPG Rise Climate.

Refreshed Carbon Offsetting Strategy

Since first setting the airline’s path to net zero, JetBlue has maintained its stance that carbon offsetting is a bridge solution toward greater sustainability efforts that directly reduce air travel emissions. JetBlue is proud to have voluntarily offset more than 11M metric tons of CO2 emissions to date (EOY 2022), including providing domestic and transatlantic carbon neutral flights for all customers from June 2020 to 2022. As lower-carbon solutions within the airline’s operations are made more readily available, the use of carbon offsets was always intended to decrease.

While JetBlue still strongly believes there is a role for high-quality carbon offsetting solutions, the airline has elected to not continue its voluntary carbon offsetting of domestic flights into 2023. In place, it will reallocate its offsetting spending into operational investments that align with its science-based target, as well as evolve its offsetting strategy to support a curated list of primarily nature-based projects in and around the destinations the airline serves.

JetBlue continues to see value in supporting high-quality projects that truly remove or avoid CO2 and deliver community benefits such as improving local air quality, introducing employment opportunities, and improving biodiversity of local habitats. JetBlue recently joined Rubicon Carbon as a launch partner for their innovative platform that delivers trusted, enterprise-grade solutions for carbon credit purchases. Rubicon Carbon was developed to deliver greater scale, confidence, and innovation across all facets of the carbon markets and meet the growing demand for high-integrity emissions reduction solutions.

To further high-quality, high-integrity carbon credit availability in the voluntary carbon market, JetBlue will continue to collaborate with other like-minded organizations and recently joined the Business Alliance to Scale Climate Solutions (BASCS) as the first airline member to open opportunities for investment, policy influence, and discussions with other corporations and NGOS/IGOS in aligned messaging around scaling climate solutions. With the BASCS partnership JetBlue will specifically focus on workstreams seeking to encourage conservation and restoration projects for coastal and oceanic carbon ecosystems – referred to as blue carbon projects – as well as promote learning sessions offering transparency into the standards, methodologies, and corporate guidance initiatives that go into these carbon credit markets.

JetBlue’s Focus on the Environment

JetBlue depends on natural resources and a healthy environment to keep its business running smoothly. Not only do we all rely on those natural resources, but tourism also relies on having beautiful, natural and preserved destinations for customers to visit. The airline focuses on issues that have the potential to impact its business. Customers, crewmembers and community are key to JetBlue's sustainability strategy. Demand from these groups for responsible service is one of the motivations behind changes that help reduce the airline’s carbon output and overall environmental impact. For more on JetBlue’s sustainability initiatives, visit www.jetblue.com/sustainability.

About JetBlue Airways

JetBlue is New York's Hometown Airline®, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando and San Juan. JetBlue carries customers to more than 100 destinations throughout the United States, Latin America, Caribbean, Canada and United Kingdom. For more information and the best fares, visit jetblue.com.

____________________________

1 The full commitment to SBTi reads: “JetBlue Airways commits to reduce well-to-wake scope 1 and 3 GHG emissions related to jet fuel 50% per revenue tonne kilometer by 2035 from a 2019 base year. Non- CO2e effects which may also contribute to aviation induced warming are not included in this target. JetBlue Airways commits to publicly report on non- CO2e impacts of aviation over its target timeframe.”

 


Contacts

Media Contact
JetBlue Corporate Communications
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LOS ANGELES--(BUSINESS WIRE)--#EVs--Fisker Inc. (NYSE: FSR) ("Fisker") CEO Henrik Fisker and CFO/COO Geeta Gupta-Fisker on Monday purchased 33,700 shares of Fisker Class A common stock.


Henrik and Geeta co-founded Fisker Inc. in 2016. The all-electric carmaker became publicly traded on the NYSE in October 2020.

In addition to the Fiskers, Chief Accounting Officer John Finnucan on Monday purchased 450.095 shares of Class A stock in the company.

About Fisker Inc.

California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube and LinkedIn.

Download the revolutionary new Fisker mobile app from the App Store or Google Play store.


Contacts

US Media:
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European Media:
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Fisker Inc. Communications:
Matthew DeBord
Sr. Director, Communications Strategy & Storytelling
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Rebecca Lindland
Director, Communications
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Investor Relations:
Frank Boroch, VP of Investor Relations
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Programs Will Offer Financial Incentives to More than 1,000 Customers to Test Their Electric Vehicles as Mobile Batteries, Grid Resources

OAKLAND, Calif.--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) today announced the launch of a pre-enrollment website for customers interested in joining the company’s three upcoming Vehicle-to-Everything (V2X) pilot programs.

The new programs will offer customers financial incentives to integrate new bidirectional EV charging technology, which allows a customer’s electric vehicle to become a mobile battery, capable of storing electricity that can be used to provide onsite power or send power back to the grid during periods of peak electricity demand.

As outlined in its first ever Climate Strategy Report, released in June, PG&E aims to support three million EVs on the road in its service area by 2030, with goals of more than two million of them equipped with vehicle-to-grid capabilities.

PG&E will test the technologies in a variety of settings, including homes, businesses and with local PG&E microgrids in select high wildfire-risk areas. PG&E is anticipating enrolling approximately 1,000 customers with eligible electric vehicles and bidirectional charging stations in the residential pilot, 200 customers in the commercial pilot, and 200 customers in the microgrid pilot.

Pre-enrollment allows PG&E customers to express interest in participating, determine eligibility, and reserve a rebate and an opportunity to fully enroll in the programs in 2023 as more vehicles and other required equipment become more widely available.

“Bidirectional EV charging is a game-changer for both the energy and transportation sectors. These pilot programs will help determine how to maximize the cost-effectiveness of bidirectional charging technology in providing a variety of customer and grid benefits,” said Aaron August, PG&E’s Vice President, Utility Partnerships and Innovation.

Visit PG&E’s V2X pilot programs pre-enrollment website at www.pge.com/VGI for more information about the technology and to explore pre-enrolling in the programs.

V2X Pilot Program Incentives

Customer benefits of PG&E’s V2X pilots include leveraging the EV battery as a backup power source and using the EV battery to earn money and offset energy usage through participation in demand response and other managed charging programs, which ultimately help reduce customer bills, integrate renewable energy, and support the grid.

Each of the new pilot programs offer specific financial incentives for participating customers and additional benefits for those in disadvantaged and priority communities as identified in California Assembly Bill 841. The upfront incentives for the V2X Pilots along with the performance-based incentives and enrollment in the Emergency Load Reduction Program (ELRP) can provide additional savings to help offset the costs of purchasing and installing a bidirectional EV charger.

Incentives include:

V2X Residential

  • Up to $2,500 upfront ($3,000 for customers in disadvantaged communities)
  • Up to $2,175 additional for providing stored energy to the grid in times of high demand through auto-enrollment in the ELRP demand response program.

V2X Commercial

  • Up to $2,500 upfront ($3,000 for customers in disadvantaged communities) for installing a 3-phase bidirectional charger less than 50 kW.
    • Up to $3,625 additional for providing stored energy to the grid in times of high demand through auto-enrollment in the ELRP demand response program.
  • Up to $4,500 upfront ($5,000 for customers in disadvantaged communities) for installing a 3-phase bidirectional charger greater than or equal to 50 kW.
    • Up to $3,625 additional for providing stored energy to the grid in times of high demand through auto-enrollment in the ELRP demand response program.

V2X Microgrids

  • Up to $3,750 for providing stored energy to the grid in times of high demand through auto-enrollment in the ELRP demand response program.
  • Can stack incentives with V2X Residential or Commercial

Approved by the California Public Utilities Commission in May, the new programs are separate and in addition to PG&E’s collaborations announced last March with both General Motors and Ford Motor Company, and will help to inform the Department of Energy Memorandum of Understanding that PG&E and a collaboration of industry, government and labor leaders signed in April focused on accelerating V2X technologies.

Support for EV Adoption

More than 420,000 EVs—one in six in the country—are registered in PG&E’s service area of Northern and Central California, where customers are often early adopters of new clean energy technologies.

PG&E has played an active role in reducing customers’ barriers to EV adoption through charging infrastructure programs, rebates, and special EV rates for both residential and business customers that help make charging simpler and more affordable. ​

​PG&E also offers tools to help customers understand costs when adopting an EV. To learn more about PG&E’s EV offerings, visit pge.com/ev.

About PG&E

PG&E, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.


Contacts

Marketing & Communications | 415.973.5930 | www.pge.com

LOUISVILLE, Colo.--(BUSINESS WIRE)--Sierra Space, a leading space company building an end-to-end business and technology platform in space to benefit life on Earth, announced today that the company won a significant space defense contract with Maxar. Under the agreement, Sierra Space will provide revolutionary solar power solutions and production capability.



This contract will support a constellation of 16 satellites that use Maxar’s proliferated low Earth orbit (LEO) spacecraft platform, which are designed to support a wide variety of global coverage missions, including Earth observation, communications and national security.

“Sierra Space offers our proliferated LEO platform the critical performance that is needed to meet the mission requirements,” said Joe Foust, Maxar’s Vice President of proliferated LEO Constellations. “Their innovative technological and production approach will be instrumental in executing to our demanding performance expectations.”

“Sierra Space is very pleased to be working with Maxar to showcase the value our technology and expertise bring to the high-growth space applications business and fast-evolving category for both civil and national security applications,” said CEO Tom Vice. “Sierra Space is leveraging the same revolutionary new technology to power our innovative spaceplanes and space stations.”

Sierra Space is actively developing and executing high volume electronics manufacturing techniques for automated production of solar arrays using its surface mount technology solar cell capabilities. The Sierra Space arrays provide higher power density, reduced lead times and unparalleled resilience as compared to conventional solar cell technologies.

The Sierra Space arrays, currently in production in Louisville, CO, are built for multiple applications including lunar surface missions, individual and small spacecraft constellations and – most recently – national security systems. Sierra Space provides arrays ranging from very small systems to large multi-kilowatt users. The technology is easily configurable to rigid or flexible interfaces and can be adapted to fit complex contoured surfaces.

Sierra Space can offer a customized solar array by combining our patented solar panel production process and standard pick-and-place solar cell configuration. This automated process allows Sierra Space to deliver solar arrays with higher specific power in less than one-half the duration of a conventional solar array.

“We can put solar panels almost anywhere on a satellite,” said Brian Anthony, VP for Space Solar Power Systems at Sierra Space. “Our automation systems can generate arrays quickly, measured in watts per minute. The current focus of Sierra Space is to streamline development of specific array configurations from our baseline of commercial designs to satisfy customer requirements, optimal testing and expediting supply.”

Sierra Space Solar Power Systems is a division of the company’s Space Applications Business Unit, which is an established supplier of high reliability spacecraft hardware with multiple areas of expertise including space solar power generation, precision pointing and motion control, vehicle and in-space engines, spacecraft environmental and thermal control and life support systems. For decades, the company has played a key role in space science and exploration, with a long legacy of contribution to government, commercial, and civil customers on a diverse set of missions with 100% operational success.

About Sierra Space

Sierra Space (www.sierraspace.com) is a leading commercial space company at the forefront of innovation and the commercialization of space in the Orbital Age. Sierra Space is building platforms in space to benefit life on Earth. The company is in the latter stages of doubling its headcount, with large presences in Colorado, Florida and Wisconsin. Significant investors in Sierra Space include General Atlantic, Coatue, and Moore Strategic Ventures.

With more than 30 years and 500 missions of space flight heritage, Sierra Space is enabling the future of space transportation with Dream Chaser®, the world’s only winged commercial spaceplane. Under construction at its Colorado headquarters and expected to launch in 2023 on the first of a series of NASA missions to the International Space Station, Dream Chaser® can safely carry cargo - and eventually crew - to on-orbit destinations, returning to land on compatible commercial airport runways worldwide. The company is also establishing a Human Spaceflight Center and Astronaut Training Academy. Sierra Space is also building an array of in-space destinations for low-Earth orbit (LEO) commercialization including the LIFE™ (Large Integrated Flexible Environment) habitat at the Kennedy Space Center in Florida, a three-story commercial habitation and science platform designed for LEO. Both Dream Chaser and LIFE are central components to Orbital Reef, a mixed-use business park in LEO being developed by principal partners Sierra Space and Blue Origin, which is expected to be operational by the end of this decade.


Contacts

Alex Walker
Sierra Space
(303) 803-2297
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Kristin Carringer
Maxar
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The second annual event will include two days of online technical on-demand webinars, virtual networking opportunities and educational presentations from industry-leading executives.

NOVI, Mich.--(BUSINESS WIRE)--The Battery Show, North America's largest and most comprehensive destination event for advanced battery and EV/HEV technology, announces second virtual “Digital Days” summit this week December 7 and 8 with online live and on-demand webinars, virtual exhibitor ‘booths’ and remote networking opportunities.


This virtual offering is an extension of the in-person events in both North America and Europe and offers free features within the Smart Event virtual event platform, Map Your Show. Extended online experiences will include virtual product showcases, Battery Tech Theater expert-led sessions and sponsored webinar tutorials. The virtual event will also feature a keynote presentation from Brian Engle, Director, Business Development – Electrification, Amphenol.

“With the success of Battery Show in Novi, the demand for networking beyond tentpole in-person events is undeniably high within the ever-expanding industry of electronic vehicles and equipment batteries,” said Shamara Ray, Group Event Director of The Battery Show North America. “The Battery Show serves as a global meeting point for the community to connect across new technologies changing the advanced battery and EV landscape. Digital Days is an opportunity to extend the sharing of knowledge and best practices with EV/HEV tech including international presence from North America to Europe. With the introduction of these digital touchpoints, The Battery Show continues to find new platforms to engage and expand opportunities for industry-leading market insights and education. ”

With the global battery technology market forecasted to grow from 92 billion in 2020 to 152+ billion by 2025, both The Battery Show’s in-person and virtual events aim to create opportunities to connect and discuss market changes and new insights. Registration is open to attendees and media today; passes may be obtained at https://www.thebatteryshow.com/en/virtual-events/digital-days.html with instructions of how to participate through the platform.

About Informa Markets Engineering:

Informa Markets' Engineering portfolio is the leading B2B event producer, publisher, and digital media business for the world's $3 trillion advanced, technology-based manufacturing industry. Our print and electronic products deliver trusted information to the engineering market and leverage our proprietary 1.3 million name database to connect suppliers with buyers and purchase influencers. We produce more than 50 events and conferences in a dozen countries, connecting manufacturing professionals from around the globe. The Engineering portfolio is organized by Informa, the world's leading exhibitions organizer that brings a diverse range of specialist markets to life, unlocking opportunities and helping them thrive 365 days of the year. For more information, visit www.informamarkets.com, and keep up to date with the latest Informa Markets engineering news on Twitter, Facebook and LinkedIn.

About Informa Markets:

Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio comprises more than 550 international B2B events and brands in markets including Engineering, Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world's leading exhibitions organizer, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, visit www.informamarkets.com.


Contacts

Jordan Douglas
Informa Markets Engineering
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The agency’s conclusions concur with Standard & Poor’s recent affirmation of MS Amlin Insurance SE’s A rating


BRUSSELS--(BUSINESS WIRE)--MS Amlin Insurance SE today announced that it has been recognized by AM Best for its financial strength.

The independent credit ratings agency has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of A (Excellent) of MS Amlin Insurance SE (MS AISE). The outlook of these credit ratings, which AM Best first awarded to MS AISE last year, is stable.

The rating of A is assigned by AM Best to insurance companies that have an excellent ability to meet their ongoing insurance obligations.

These ratings come after Standard & Poor’s also recently affirmed MS AISE’s A rating.

As part of the rating process, AM Best analysed all major aspects of MS AISE’s strategy, its business and the company’s financial position and performance.

The rating awarded by AM Best confirms the strength of the company’s balance sheet, its appropriate enterprise risk management approach and the robust underwriting performance carried out by MS AISE over the previous years, as well as the added stability that the company benefits from by being part of the MS&AD Group.

These ratings are a tribute to our work over the years to build a solid, dependable insurance business, and they are a direct result of our adherence to our values of teamwork and professionalism”, said Ludovic Senecaut, CEO of MS Amlin Insurance SE.

We are confident in our ability to deliver stable, strong results in the years ahead, and the fact that two major rating agencies also share this view reaffirms our conviction,” Senecaut added.

AM Best determines its ratings through its Best's Credit Rating Methodology, which provides a comprehensive explanation of AM Best's rating process and contains the rating criteria employed in the rating process.

About MS Amlin

MS Amlin Insurance SE is a specialist P&C and Marine insurer with local teams operating across markets within Europe and the UK. With a desire to provide an unparalleled service experience, MS Amlin Insurance SE works closely with brokers and businesses to deliver bespoke and digitally traded solutions to meet their insurance needs.

MS Amlin Insurance SE Marine business is written via MS Amlin Marine NV.

Part of the MS&AD Group, a global top 10 non-life insurer; MS Amlin Insurance SE is domiciled in Belgium and is rated A (Stable) by Standard & Poor's and A (excellent) AM BEST.

https://www.msamlin.com/en/index.html

https://news.ambest.com/presscontent.aspx?refnum=32780&altsrc=2


Contacts

Vanessa South
Head of Market Management, Product and Distribution, MS Amlin Insurance SE
Tél +33 1 44 70 58 96
Mob +33 6 71 00 14 19

DUBLIN--(BUSINESS WIRE)--The "The Mozambican Petroleum Industry 2022" report has been added to ResearchAndMarkets.com's offering.


This report focuses on petroleum products from crude oil, natural gas, liquefied fuels and lubricating oils and greases, and the wholesale and retail trade of these products in Mozambique. It includes information on exploration and production sites, licensing rounds, notable players and developments.

There are profiles of 18 companies including multinationals such as TotalEnergies, Eni and Galp, South African group Sasol, government-owned Empresa Nacional de Hidrocarbonetos (ENH) and Petromoc and Matola Gas Company

The Mozambican Petroleum Industry

Mozambique is largely reliant on oil and fuel imports due to lack of domestic refining capacity, and is a net importer of petroleum products. Upstream activities - including exploration and production of crude oil and natural gas - and the liquid fuel sector are dominated by multinational companies.

Vast natural gas volumes have been discovered in offshore Area 1 and Area 4 blocks in the Rovuma basin, but investment inflows and the development of mega projects could be at risk due to security concerns in the northern province of Cabo Delgado.

Natural Gas Production

Natural gas is produced in the Pande and Temane fields in the Mozambique Basin. A floating plant for LNG, which arrived in Mozambique in January 2022, is the first offshore LNG project to come online in Mozambique, the first floating LNG facility to be deployed in deep waters in Africa and the third one in the world. The floating plant has a capacity to liquefy 3.4Mt of natural gas per year from subsea gas-producing wells.

Fuel Retail

Opportunities for fuel retailers are growing due to improving economic conditions in Mozambique. Fuel retail is dominated by the major international players.

All petrol and diesel products for sale in Mozambique are imported in a centralised process with retail prices set by the regulator. Diesel and petrol prices are not subsidised by government.

 

Key Topics Covered:

 

1. INTRODUCTION

 

2. COUNTRY PROFILE

 

3. DESCRIPTION OF THE INDUSTRY

3.1. Industry Value Chain

3.2. Geographic Position

3.3. Size of the Industry

3.4. Key Success Factors and Pain Points

 

4. LOCAL

4.1. Key Trends

4.2. Notable Players

4.3. Trade

4.4. Corporate Actions

4.5. Regulations

4.6. Enterprise Development and Social Economic Development

 

5. AFRICA

 

6. INTERNATIONAL

 

7. INFLUENCING FACTORS

7.1. COVID-19

7.2. Economic Environment

7.3. Labour

7.4. Security Issues

7.5. Natural Disasters

7.6. Environmental Issues

7.7. Technology, Research and Development (R&D) and Innovation

7.8. Government Support

7.9. Input Costs

 

8. COMPETITIVE ENVIRONMENT

8.1 Barriers to Entry

 

9. SWOT ANALYSIS

 

10. OUTLOOK

 

11. INDUSTRY ASSOCIATIONS

 

12. REFERENCES

12.1 Publications

12.2 Websites

Companies Mentioned

  • Abba Bokamoso Agricultural Development (Pty) Ltd
  • Afrox Mozambique Ltda
  • Bharat Gas Resources Ltd
  • Bharat Oman Refineries Ltd
  • Bharat Petroleum Corporation Ltd
  • Bharat PetroResources Ltd
  • Bharat Stars Services Pvt Ltd
  • BP Mocambique Ltda
  • BPCL-KIAL Fuel Farm Pvt Ltd
  • Central UP Gas Ltd
  • China National Petroleum Corporation
  • Companhia Mocambicana de Gasoduto SA
  • Companhia Mozambicana de Hidrocarbonetos S.A.
  • Delhi Aviation Fuel Facility Pvt Ltd
  • Energias Alternativas Renovaveis Lda
  • Eni E&P Holding BV
  • Eni Energy Activities Srl
  • Eni gas e luce SpA
  • Eni Gas Transport Services Srl
  • Eni Mozambico SpA
  • Eni New Energy SpA
  • Eni SpA
  • ETS SpA
  • FINO Paytech Ltd
  • Forjadora, SA
  • Galp Mozambique Ltda
  • Gas Distribution Company of Thessaloniki-Thessaly SA
  • Gas Supply Company Thessaloniki-Thessalia SA
  • Goa Natural Gas Pvt Ltd
  • Haridwar Natural Gas Pvt Ltd
  • Hu's Hu Bride and Co (Pty) Ltd
  • IHB Pvt Ltd
  • Importadora Mocambicana De Petroleos Ltda
  • Indraprastha Gas Ltd
  • JFS Energia SARL
  • JFS Imobiliaria S.A.
  • Kochi Salem Pipeline Pvt Ltd
  • Lemang Agricultural Services (Pty) Ltd
  • Maharashtra Natural Gas Ltd
  • Mariconsult SpA
  • Matola Gas Company SA
  • Matrix Bharat Pte Ltd
  • Mozambique Rovuma Venture SpA
  • Mumbai Aviation Fuel Farm Facility Pvt Ltd
  • Oleos Mocambique Ltda
  • PetroBeira Ltda
  • Petroleos de Mozambique S.A.
  • Petromoc e Sasol SARL
  • PICSA Advisory Services (Pty) Ltd
  • Puma Energy (Mocambique) Ltda
  • Ratnagiri Refinery & Petrochemicals Ltd
  • Rovuma Basin LNG Land Ltda
  • Sabarmati Gas Ltd
  • SAMCO Sagl
  • Sasol Ltd
  • Sasol Nywerhede (Pty) Ltd
  • SEA SpA
  • Sentraal-Oos Korporatief Ltd
  • Seram SpA
  • Servizi Fondo Bombole Metano SpA
  • Sociedade Algodoeira do Niassa JFS S.A.
  • Tecnica Industrial SARL
  • TotalEnergies Marketing Mocambique S.A.
  • Transmed SpA
  • Transmediterranean Pipeline Co Ltd
  • Union Fenosa Gas SA
  • Vivo Energy Mozambique Ltda

 

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


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that it has commenced a cash tender offer to purchase any and all of the $1.25 billion aggregate principal amount of the outstanding 7.000% Senior Secured Notes due 2024 (the “Notes”) issued by Cheniere Corpus Christi Holdings, LLC (“CCH”) on the terms set forth in the table below.


Series of Notes(1)

CUSIP Numbers

Aggregate Principal
Amount Outstanding

U.S. Treasury Reference
Security(2)

Bloomberg
Reference
Page(2)

Fixed
Spread(2)

7.000% Senior
Secured Notes
due 2024

16412X AD7,
16412X AA3

$1,250,000,000

0.75% UST due
December 31, 2023

PX4

50 bps

(1) The issuer of the Notes is CCH, which is a wholly-owned subsidiary of Cheniere.

(2) The consideration (the “Consideration”) payable per $1,000 principal amount of Notes validly tendered and accepted for purchase will be based on the fixed spread specified in the table above, plus the yield to maturity of the U.S. Treasury Reference Security based on the bid-side price of the U.S. Treasury Reference Security specified above at 11:00 a.m., New York City time, on December 9, 2022 (such date as it may be extended, the “Price Determination Date”). The Consideration does not include accrued interest, which will be paid on Notes accepted for purchase by us as described herein.

The tender offer is being made solely pursuant to the terms and conditions set forth in an Offer to Purchase, dated December 5, 2022. Holders of the Notes are urged to carefully read the Offer to Purchase before making any decision with respect to the tender offer. The tender offer is not conditioned on any minimum amount of Notes being tendered. Subject to applicable law, Cheniere may amend, extend or terminate the tender offer in its sole discretion. Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.

The tender offer will expire at 5:00 p.m., New York City time, on December 9, 2022, unless extended or terminated by Cheniere (such time and date, as the same may be extended or terminated by Cheniere in its sole discretion, subject to applicable law, the “Expiration Date”). Tendered Notes may be withdrawn at or prior to the Expiration Date by following the procedures in the Offer to Purchase, but may not thereafter be validly withdrawn, unless otherwise required by applicable law.

Holders of Notes must validly tender and not validly withdraw their Notes, or submit a Notice of Guaranteed Delivery and comply with the related procedures, prior to the Expiration Date in order to be eligible to receive the Consideration. Accrued and unpaid interest will be paid on all Notes validly tendered and accepted for purchase from the last interest payment date up to, but not including, the settlement date, which is expected to be on or about December 14, 2022. On the Price Determination Date, unless extended, Cheniere will issue a press release specifying, among other things, the Consideration for the Notes validly tendered and accepted.

For holders who deliver a Notice of Guaranteed Delivery and all other required documentation at or prior to the Expiration Date, upon the terms and subject to the conditions set forth in the Offer to Purchase and Notice of Guaranteed Delivery, the deadline to validly tender Notes using the guaranteed delivery procedures will be the second business day after the Expiration Date and is expected to be 5:00 p.m., New York City time, on December 13, 2022.

Concurrently with, or shortly after, the commencement of the tender offer, CCH intends to issue a notice of redemption for all or a portion of the Notes that remain outstanding following the consummation or termination of the tender offer. Any such redemption would be made in accordance with the terms of the Base Indenture, as supplemented by the Third Supplemental Indenture (together, the Indenture), pursuant to which the Notes were issued, which provides for a make-whole redemption price based on the treasury rate plus 50 basis points. Neither this statement of intent nor similar statements of such intent included elsewhere in this press release shall constitute a notice of redemption under the Indenture. Any such notice, if made, will only be made in accordance with the provisions of the Indenture.

Cheniere has retained BofA Securities to act as the dealer manager and D.F. King & Co., Inc. to act as the tender and information agent for the tender offer. For additional information regarding the terms of the tender offer, please contact BofA Securities at (980) 388 3646, (888) 292 0070, or This email address is being protected from spambots. You need JavaScript enabled to view it.. Requests for copies of the Offer to Purchase and questions regarding the tendering of Notes may be directed to D.F. King & Co., Inc. at (212) 269-5550 (for banks and brokers) or (888) 280-6942 (all others, toll-free) or email This email address is being protected from spambots. You need JavaScript enabled to view it.. The Offer to Purchase, and the related Notice of Guaranteed Delivery can be accessed at the following link: www.dfking.com/cheniere.

This press release is for informational purposes only and does not constitute an offer to purchase securities or a solicitation of an offer to sell any securities or an offer to sell or the solicitation of an offer to purchase any securities nor does it constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful.

None of Cheniere, the tender and information agent, the dealer manager or the trustee (nor any of their respective directors, officers, employees or affiliates) makes any recommendation as to whether holders should tender their Notes pursuant to the tender offer, and no one has been authorized by any of them to make such a recommendation. Holders must make their own decisions as to whether to tender their Notes, and, if so, the principal amount of Notes to tender.

About Cheniere

Cheniere Energy, Inc. is the leading producer and exporter of LNG in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with total production capacity of approximately 45 mtpa of LNG in operation and an additional 10+ mtpa of expected production capacity under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.

For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the Securities and Exchange Commission.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meanings 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 or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, statements regarding the intended conduct, timing and terms of the tender offer and any future actions by Cheniere or Cheniere Corpus Christi Holdings, LLC in respect of the Notes. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.


Contacts

Investors
Randy Bhatia, 713-375-5479
Frances Smith, 713-375-5753

Media Relations
Eben Burnham-Snyder, 713-375-5764
Phil West, 713-375-5586

“Fueled by Circle K” Focuses on Quality Fuel You Can Trust and the Communities We Serve

CHARLOTTE, N.C.--(BUSINESS WIRE)--Circle K, a global leader in convenience and mobility, today announces its first-ever U.S. nationwide advertising campaign, “Fueled by Circle K.” Taking place over the next year, the campaign focuses on Circle K fuel, which is now available in over half of its 7,000 U.S. locations. The campaign underscores Circle K’s mission to make customers’ lives a little easier every day, highlighting fuel they can trust as yet another way the brand serves the communities where it operates.



The campaign will run primarily on digital streaming and social media channels, taking a customer-centric creative approach in the four-part ad series that showcases different customers, their fueling experiences and how Circle K has everything they need for their journey.

Launched on Dec. 2, the first ad of the year-long campaign is holiday-themed, featuring actual Circle K employees alongside a variety of Circle K customer personalities, from delivery drivers to Santa’s helpers. The ad also features user-generated content from actual Circle K customers, and an original festive jingle to get customers in the holiday spirit.

“With the continued growth of Circle K in the U.S. and the expansion of Circle K Fuel reaching close to 4,000 stores by mid next year, now is the right time to introduce our first national fuel campaign,” explains Melissa Lessard, Head of North American Marketing. “As a major milestone for our brand, we want the ‘Fueled by Circle K’ campaign to celebrate our valued customers and show how they can trust the quality of Circle K fuel to support them on their journeys as well as enjoy so many customer favorites in store.”

To continue showcasing real customers throughout the campaign, Circle K fans are invited to share how Circle K is part of their life for a chance to be featured in future ads or social media posts, plus the opportunity to win fun prizes. To enter, customers can post to social media using #MyCircleK or upload their photos and videos directly to the My Circle K website.

View the first ad, “Holiday,” on YouTube. For more information on Circle K, Circle K Fuel, and to find a nearby location, visit circlek.com.

About Circle K and Alimentation Couche-Tard Inc.

Couche-Tard is a global leader in convenience and fuel retail, operating in 24 countries and territories, with close to 14,300 stores, of which approximately 10,900 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, as well as in Ireland. It also has an important presence in Poland and Hong Kong SAR. Approximately 122,000 people are employed throughout its network.

For more information on Alimentation Couche-Tard Inc. or to consult its annual Consolidated Financial Statements and Management Discussion and Analysis, please visit: https://corpo.couche-tard.com.


Contacts

Media Contact:
Alyssa Eubank
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HOUSTON--(BUSINESS WIRE)--Vertice Oil Tools Inc. (“Vertice”), a leading provider of downhole completions and re-completions technology, has acquired substantially all the assets of MorphPackers Limited (“Morph”). This acquisition bolsters Vertice’s re-completions capabilities, enabling Vertice to address the rapidly growing re-frac market.


Mohamed Saraya, CEO of Vertice commented, “We are excited to announce the complementary acquisition of Morph’s re-frac business. Morph’s innovative products, including its cementable production MorphAnchor™ and STORM™ re-frac packers, enhance Vertice’s ability to provide its customers with a comprehensive re-frac technology offering, including ultra slim liner hangers, expandable steel and open hole packers, and slim hole frac plugs.”

Vertice is backed by SCF Ventures, an investment vehicle within SCF Partners, focused on providing differentiated capital to high growth companies to develop new products and technologies in the energy services sector.

About Vertice Oil Tools

Headquartered in Stafford, TX, Vertice Oil Tools, Inc. is an oilfield products and services company specializing in downhole completions and re-completions tools. Vertice’s proprietary Edge plug is a patented, “ball-less” frac plug, enabling operators to frac without pump-down fluid while providing a bypass contingency in the event of misfires or presets. In addition to its Edge plug, Vertice designs and manufactures several innovative products including V-Release re-frac liners, Hy-Form steel packers, Apex dissolvable casing floatation plugs, and Optimus toe sleeves.

To learn more, visit www.verticeoiltools.com.

About SCF Partners

SCF Partners, headquartered in Houston, Texas, with offices also in Aberdeen, Singapore, and Calgary, is a private equity firm focused solely on building energy services, equipment, and technology companies. SCF has completed more than 400 energy services investments and helped build 18 public companies in its over 30-year history. SCF partners with operational management and assists with additional growth through acquisitions and geographic expansion initiatives to build leading companies across the globe. To learn more, go to www.scfpartners.com.


Contacts

Alex Goodwin
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DALLAS--(BUSINESS WIRE)--Leeward Renewable Energy Operations, LLC (“LREO”) today announced that it has posted to its secure investor relations site instructions for accessing its quarterly investor conference call, which will be held on December 9, 2022, at 10:00 a.m. CST. Investors who hold LREO’s 4.250% Senior Notes due in 2029, prospective investors, broker-dealers, and securities analysts are invited to join the investor call.


A recording of the investor call will be posted to LREO’s secure investor site within 24 hours of the call. Please join the event five minutes prior to scheduled start time.

For information on how to access the site, visit https://www.leewardenergy.com/request-access/ or contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it..

About Leeward Renewable Energy Operations, LLC

LREO is wholly owned by Leeward Renewable Energy (LRE), a leading renewable energy company that owns and operates a portfolio of 25 renewable energy facilities across nine states totaling more than 2,500 megawatts of generating capacity. LRE is actively developing and contracting new wind, solar, and energy storage projects in energy markets across the U.S., with 1.9 gigawatts contracted and 20 gigawatts under development and construction spanning over 100 projects. LRE is committed to providing long-term, sustainable energy solutions across all its projects that benefit its community partners while protecting and enhancing the environment. LRE is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$121 billion in net assets (as of December 31, 2021). For more information, visit www.leewardenergy.com.


Contacts

For more information:
Kelly Kimberly
FGS Global
713.822.7538
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DUBLIN--(BUSINESS WIRE)--The "Mexico Renewable Energy Policy Handbook, 2022 Update" report has been added to ResearchAndMarkets.com's offering.


The report offers comprehensive information on major policies governing the renewable energy market in the country.

The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.

The report is built using data and information sourced from industry associations, government websites, and statutory bodies.

Scope

  • The report covers policy measures and incentives used by Mexico to promote renewable energy.
  • The report details promotional measures in India both for the overall renewable energy industry and for specific renewable energy technologies that have potential in the country.

Reasons to Buy

  • Develop business strategies with the help of specific insights about policy decisions being taken for different renewable energy sources.
  • Identify opportunities and challenges in exploiting various renewable technologies.
  • Compare the level of support provided to different renewable energy technologies in the country.
  • Be ahead of competition by keeping yourself abreast of all the latest policy changes.

Key Topics Covered:

1 Renewable Energy Market, Overview

2 Renewable Energy Targets

3 Electricity Industry Law

4 Clean Energy Certificates

5 Nationally Determined Contributions (NDC)

6 Development Program of the National Electrical System 2020-2034

7 Energy Transition Law (Ley de Transicion Energetica, LTE)

8 General Law of Climate Change (Ley General de Cambio Climatico)

9 Auction Mechanism

10 Net-Metering/Net Billing

11 Removal of custom duty on Imported Solar Modules

12 21st Century Power Partnership (21CPP)

13 Accelerated Depreciation

14 Wheeling Service Agreement for Electricity from Renewable Energy Sources

15 Income Tax Exemption

16 Resolution on Interconnection of large hydro plants

17 Geothermal Energy Act

18 Law for the Promotion and Development of Bioenergy

For more information about this report visit https://www.researchandmarkets.com/r/sic3s3


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

NEW YORK & OSLO & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, today announced the closing of an underwritten public offering of 23,000,000 of its Ordinary Shares without nominal value, including the green shoe option that was exercised in full by the underwriters on December 1, 2022, at a public offering price of $11.50 per share before underwriting discounts. The gross proceeds from the offering, including the green shoe option, were approximately $264,500,000. The offering closed on December 5, 2022.

FREYR intends to use the net proceeds from this offering for (i) the continued construction of Giga Arctic facilities, (ii) development expenditures for Giga America and (iii) general corporate purposes. General corporate purposes may include the financing of FREYR’s operations or investments.

Credit Suisse, BofA Securities and Morgan Stanley & Co. acted as book-running managers for the offering.

The offering was made only by means of a previously filed effective registration statement (including a base prospectus) and a preliminary prospectus supplement. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering, when available, may be obtained from Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by telephone at (800) 221-1037 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; BofA Securities, Inc., Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, This email address is being protected from spambots. You need JavaScript enabled to view it.; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014. Before you invest, you should read the prospectus in that registration statement and other documents FREYR has filed with the Securities and Exchange Commission for more complete information about FREYR and the proposed offering.

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

About FREYR Battery

FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland, and the United States. FREYR intends to install 50 GWh of battery cell capacity by 2025 and 100 GWh annual capacity by 2028 and 200 GWh of annual capacity by 2030.

Cautionary Statement Concerning Forward-Looking Statements

All statements, other than statements of present or historical fact included in this press release, including, without limitation, statements regarding FREYR’s use of proceeds from the offering are forward-looking and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.

Most of these factors are outside FREYR’s control and difficult to predict. Information about factors that could materially affect FREYR is set forth under the “Risk Factors” section in FREYR’s Registration Statement on Form S-3 filed with the Securities and Exchange Commission (the "SEC") on September 1, 2022, and in other SEC filings available on the SEC’s website at www.sec.gov.


Contacts

Investor contact:

Jeffrey Spittel
Vice President, Investor Relations
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Tel: (+1) 281-222-0161

Media contact:

Katrin Berntsen
Vice President, Communication and Public Affairs
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Tel: (+47) 920 54 570

EWING, N.J.--(BUSINESS WIRE)--$OLED #OLED--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced the signing of long-term OLED material supply and license agreements with Samsung Display Co., Ltd. (SDC), a global display manufacturing leader. These agreements affirm that Universal Display Corporation will continue to supply its proprietary UniversalPHOLED phosphorescent OLED materials and technology to Samsung Display for use in its OLED displays. The agreements are scheduled to run through December 31, 2027, and may be extended for an additional two-year period. Financial terms of the agreements have not been disclosed.


“We are pleased to announce the signing of these long-term agreements with Samsung Display, our partner for more than two decades,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “Through our twenty-plus years of innovation and materials supply, our cooperation and collaboration with SDC has grown stronger and broader. As we enter new frontiers of the OLED revolution, we look forward to continuing to work hand-in-hand to support Samsung’s product roadmaps of advanced, inventive and beautiful OLED displays with our expanding portfolio of highly-efficient, high-performing proprietary OLED technologies and UniversalPHOLED materials.”

About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,500 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.

Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.

All statements in this document that are not historical, such as those relating to the projected adoption, development and advancement of the Company’s technologies, and the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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Contacts

Universal Display:
Darice Liu
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+1 609-964-5123

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