Skyworks Aeronautics Also Strengthens Executive Team with Recent New Hires and Adds to Electric Aircraft Partnership

The Company envisages going public via SPAC merger or traditional IPO

CHICAGO--(BUSINESS WIRE)--Skyworks Aeronautics Corp. today announced a $100 million investment commitment from GEM Global Yield LLC SCS ("GEM"), the Luxembourg based private alternative investment group. Under the agreement, GEM will provide Skyworks Aeronautics with a Share Subscription Facility of up to $100 million for a 36-month term following a public listing of the Skyworks Aeronautics common stock. Skyworks Aeronautics will control the timing and maximum amount of drawdowns under this facility and has no minimum drawdown obligation. Concurrent with a public listing of Skyworks Aeronautics shares, Skyworks Aeronautics will issue warrants to GEM to purchase up to 3% of the common stock of the company.

"Skyworks Aeronautics looks forward to working with GEM as we continue to work to bring our cutting-edge aircraft to market," stated Mr. Steve Stevanovich, Skyworks Aeronautics Co-Executive Director. “We think that GEM is an excellent partner that believes in our vision and understands the promise and potential of our technology.”

Skyworks Aeronautics will use the funds to move forward with the commercialization of its cutting-edge gyroplane aircraft, including the eGyro™ electric air taxi geared towards urban air mobility and the 400 mph VertiJet™ VTOL aircraft that competes directly with helicopters, but at a much higher speed, longer range and lower operating cost.

Brig. General (Ret.) John Michel, Skyworks Aeronautics Co-Executive Director added, “With our highly experienced leadership and technical team and strong intellectual property portfolio, this commitment by GEM positions Skyworks Aeronautics to become the first company in the world to commercialize gyrocraft at scale. Be it providing affordable vertical lift alternatives to developing nations, progressive electric aircraft capabilities for air carriers, or game-changing vertical takeoff and landing platforms, Skyworks Aeronautics is now poised to be a transformative force in the rapidly evolving air mobility industry.”

This agreement comes on the heels of Skyworks Aeronautics recent announcement of its electric aircraft collaboration with Mobius.energy to produce the state-of-the-art electric gyroplane, the eGyro™. The Skyworks Aeronautics eGyro™ has been designed to leverage the fundamental safety and exceptional performance advantages of a gyroplane to create an eVTOL system that provides an unparalleled practical, affordable, and scalable approach to intra and inter-city passenger and air cargo transport. With a proprietary autorotating main rotor design delivering exceptional performance and unprecedented safety, the eGyro™ overcomes a key limitation of many of today’s existing eVTOL system concepts. Mobius.energy developed an advanced battery module architecture optimized for electric aircraft.

Amongst other senior and technical staff, Skyworks Aeronautics has also recently added Mr. Barry Jones as its Director of Aviation Operations and Chief Pilot. Mr. Jones, a retired British Army Air Corps Captain, is a highly decorated aviator and instructor in numerous aircraft. He has also served as the Chairman of the British Rotorcraft Association (the organization that governs Gyro flying in the UK), has successfully worked with aviation regulators across Europe on certification matters, and has spent the last decade working in the field of Gyro Research & Development, successfully developing and launching several significant gyroplane enhancing concepts. He is leading Skyworks Aeronautics certification efforts. The full senior leadership team can be viewed on the following link: https://www.skyworks-aero.com/#section-teamone

About Skyworks Aeronautics

Skyworks Aeronautics is the world leader in gyronautics, the study and design of sustained autorotative flight represented by the company's gyroplane technology. Skyworks Aeronautics has more than 40 patents with several more underway, all obtained in an effort to radically change not only the way gyroplanes are perceived, but also the way they are utilized. From mass personnel transportation, agriculture, defense, and border protection to literally changing the economies of developing nations, Skyworks Aeronautics' goal is to change the nature of vertical flight. For more information about the company, its products, and individual members of the Skyworks Aeronautics team, visit www.Skyworks-Aero.com

About GEM

Global Emerging Markets (“GEM”) is a $3.4 billion, alternative investment group with offices in Paris, New York, and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 400 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments. For more information: http://www.gemny.com

Steve G. Stevanovich
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+1 312 809 1076

DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced plans to release fourth quarter and full year 2020 operational and financial results after the close of trading on Tuesday, February 23, 2021. Management will also host a live conference call on Wednesday, February 24, 2021 at 9:00 a.m. Central Time to review fourth quarter and full year 2020 financial results and operational highlights. Matador also expects to release its full year 2021 operational and financial guidance in conjunction with this earnings release.

To access the live conference call, domestic participants should dial (855) 875-8781 and international participants should dial (720) 634-2925. The conference ID and passcode is 6492069. The live conference call will also be available through the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab. The replay for the event will be available on the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab through March 31, 2021.

About Matador Resources Company

Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations, primarily through its midstream joint venture, San Mateo, in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.

For more information, visit Matador Resources Company at www.matadorresources.com.

Contact Information
Mac Schmitz
Capital Markets Coordinator
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(972) 371-5225

Ameresco to implement advanced energy solutions that will maximize reliability and resiliency at Virginia naval shipyard

FRAMINGHAM, Mass.--(BUSINESS WIRE)--#efficiency--Ameresco, Inc., (NYSE: AMRC), a leading energy efficiency and renewable energy company, today announced that the U.S. Navy and the Ameresco Federal Solutions team are breaking ground to expand on-site generation, strengthen reliability, and enhance resiliency at Norfolk Naval Shipyard (NNSY) in Portsmouth, Virginia. This $173 million energy savings performance contract (ESPC) builds on Ameresco’s two decades of support to the NNSY mission to repair, overhaul, and refuel the most technologically advanced warships in the world. Because ESPCs leverage the guaranteed savings the projects generate to secure third-party financing, the Navy will not have to contribute up-front funding during the project’s implementation phase.

Ameresco is now preparing to construct a new 19-megawatt (MW) combined heat and power (CHP) plant, a 3MW battery energy storage system, and a microgrid control system that will provide the site with long-term energy security while reducing the electricity imported from the grid by 68 percent. As part of this modernization effort, Ameresco will refurbish existing backup power assets, integrate them into the microgrid, and upgrade the electric distribution system to provide redundant sources of supply.

This project also features a new industrial wastewater treatment plant (IWTP), a critical element of shipyard infrastructure that Ameresco has already begun to build. The effective treatment of contaminated wastewater that the site’s ship repair activities produce is critical to NNSY’s mission of ensuring that ships can return to service on schedule. Tasked by the Navy with assessing potential industrial process improvements, Ameresco developed a solution that produces enough savings from recycling water within the plant, enclosing exposed system components, and reducing operating costs to pay for the complete replacement of the site’s 40-year-old IWTP.

“This project, which features both a new industrial water treatment plant and the integration of a new CHP plant and battery storage within a microgrid control system, will deliver long-term efficiency, reliability, and resiliency in support of the NNSY mission,” said Nicole Bulgarino, executive vice president and general manager of Federal Solutions at Ameresco. “We value our long-term partnership with the U.S. Navy and take seriously our responsibility to help advance their mission and support the environment through the deployment of clean energy technology.”

After construction is completed in 2022, Ameresco will operate and maintain the CHP plant, IWTP, and microgrid until January 2044. Each measure is designed to operate in compliance with relevant Department of Defense and Navy cybersecurity requirements. Over the course of the 22-year performance period following construction, the project will generate more than $411 million in guaranteed cost savings.

About Norfolk Naval Shipyard
Norfolk Naval Shipyard (NNSY) in Portsmouth, Va. serves as the Navy’s main East Coast repair, overhaul and modernization facility. NNSY is one of Naval Sea Systems Command's four public shipyards that play a major role in maintaining America's fleet and providing a wartime surge capability to keep the nation's ships ready for combat.

About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported contracted backlog as of September 30, 2020.

Ameresco:
Leila Dillon
508-661-2264
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KANSAS CITY, Mo.--(BUSINESS WIRE)--Kansas City Southern (KCS or the Company) (NYSE:KSU) announced that its Board of Directors approved at its meeting today a 23% increase in the quarterly dividend on KCS’s common stock, from $0.44 to $0.54 per share. The board declared a common stock dividend at this increased amount payable on April 7, 2021, to common stockholders of record at the close of business on March 8, 2021.

The increase in the quarterly dividend on KCS’s common stock aligns with the Company’s approach to maintaining a target payout ratio in the low 20% range. This approach was communicated in a November 2020 press release as part of KCS’s updated capital allocation policy, and it represents the Company’s commitment to returning capital to its stockholders.

Also at today’s meeting, the Board of Directors declared a regular dividend of $0.25 per share on the outstanding KCS 4% non-cumulative preferred stock. The dividend is payable on April 6, 2021 to preferred stockholders of record at the close of business on March 8, 2021.

The Board of Directors also set the Annual Meeting of Stockholders to be held on Thursday, May 20, 2021. Stockholders of record of KCS’s common stock and KCS’s 4% non-cumulative preferred stock as of March 22, 2021, will be entitled to notice of the meeting and to vote at such meeting.

Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances are primary components of a railway network, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.

KCS: Ashley Thorne, 816-983-1530, This email address is being protected from spambots. You need JavaScript enabled to view it.

Leading ESG Investment Firm Focuses on Power, Renewable, Software, Industrial Investments

NEW YORK--(BUSINESS WIRE)--Despite a tumultuous and unpredictable 2020, Energy Impact Partners (EIP) Credit Strategies group participated in more than $100 million of transactions in five new US-based businesses, while continuing to support the firm’s existing portfolio companies. Credit Strategies new portfolio companies include Williams Industrial Services Group, Derive Systems, Tenere Inc., Trekker Group, and The Eastern Specialty Company (TESCO).

As a global investment platform leading the transition to a sustainable energy future, this year marked monumental growth for the Credit Strategies team. Credit Strategies serves as a leader in ESG investments and has now participated in 14 transactions across the power, renewable, software and technology, industrial, and transportation industries. EIP Credit Strategies expects continued growth in these key markets in 2021 and beyond.

“Our investments in 2020 reflect our mission to provide creative capital solutions to US lower-middle market companies,” said EIP Credit Strategies Managing Partner & CEO Harry Giovani. “Our fund’s bespoke structuring and overall platform enables strong underwriting capabilities. We are very excited to partner with these five additional companies, while also continuing our support of existing portfolio investments such as Palmetto Clean Technologies and Volta Industries. We have been thoroughly impressed with the management teams and the vision these companies possess, and we look forward to supporting their continued future success.”

EIP Credit Strategies Partner Tal Sheynfeld added, “Our customized financing solutions continue to show promise as more US lower-middle market companies require capital to effectively execute their growth plans. Our differentiator is our unique platform, which creates stronger alignment between our team and our portfolio companies, and offers strategic value beyond capital financing.”

Background on Investments

• Agented a $50.0 million term loan facility, allowing Williams Industrial Services Group to reduce its cost of capital and providing liquidity that will support future growth initiatives. Since 1958, Williams Industrial Services Group provides specialty energy construction and maintenance services to the North American power generation industry.

• Recapitalized Derive System’s balance sheet by providing a $20.0 million term loan facility. Derive Systems is a leading mobility software platform that enables cleaner and safer enterprise fleet management by unlocking key fuel efficiency and driver safety data.

• Led and agented the upsize of the existing credit facility for Tenere by providing a $22.0 million term loan. Tenere is a leading provider of custom mechanical solutions across a range of industries to include cloud infrastructure, network architecture, fiber optics, autonomous transportation, and renewable energy.

• Provided $13.2 million of growth capital to Trekker to capture opportunities relating to infrastructure buildouts in the Florida and Puerto Rico markets. Trekker is a third-generation family-owned business that sells, rents, and services construction equipment, parts and tools, building materials, formwork and shoring systems.

• Invested $7.5 million in TESCO, the trusted source for meter testing instruments and accessories since 1904. TESCO’s services to the utility industry include meter shop layout, statistical sampling, equipment specifications, field services, facility relocation, quality systems, project management and custom equipment.

EIP Credit Strategies was established to support U.S.-based small- and middle-market businesses with a specific focus on energy-related investments. The group offers financing solutions across the capital structure, such as first and second lien secured term loans and unsecured debt as well as equity. EIP Credit Strategies leverages EIP's existing infrastructure, deal flow, expertise in equity investing, and utility partner network to broaden the firm's financial solutions. EIP Credit Strategies has realized two successful investments thus far, Aquam and Tendril.

For more information on EIP and EIP Credit Strategies, please visit www.energyimpactpartners.com.

About Energy Impact Partners:

Energy Impact Partners (EIP) is a global investment platform leading the transition to a sustainable energy future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $1.5 billion in assets under management, EIP invests globally across venture, growth, credit and infrastructure – and has a team of more than 50 professionals based in its offices in New York, San Francisco, Palm Beach, London, Cologne and soon Oslo. For more information on EIP, please visit www.energyimpactpartners.com.

Harry Giovani
Managing Partner and CEO, EIP Credit Strategies
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Tal Sheynfeld
Partner, EIP Credit Strategies
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Media Contact:
Matthew Matyjek
Silverline Communications
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Not for Distribution to Any Person Located or Resident in Any Jurisdiction Where It Is Unlawful to Distribute This Announcement

ATHENS, Greece--(BUSINESS WIRE)--Danaos Corporation (the “Company”) (NYSE:DAC) announced today the pricing of its offering of $300 million of 8.500% senior unsecured notes due 2028. The notes are being offered and sold in a private offering exempt from the registration requirements under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Company intends to use the net proceeds from the offering, together with a new $815 million senior secured credit facility and a new $135 million sale leaseback arrangement, to implement a $1.25 billion refinancing of a substantial majority of its outstanding senior secured indebtedness. The offering is expected to close on or about February 11, 2021, subject to customary closing conditions.

This announcement is not an offer for sale or a recommendation or solicitation to buy or sell any securities, nor shall there be any offer, solicitation, or sale of any securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The notes will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state securities laws.

About Danaos Corporation

Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our current fleet of 65 containerships aggregating 403,793 TEUs, including five vessels owned by Gemini Shipholdings Corporation, a joint venture, ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Our fleet is chartered to many of the world’s largest liner companies on fixed-rate charters. Danaos Corporation’s shares trade on the New York Stock Exchange under the symbol “DAC”.

Forward-Looking Statements

Matters discussed in this release may constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements reflect the current views of Danaos Corporation (including subsidiaries unless indicated or the context requires otherwise, the “Company,” “we,” “us,” and “our”) with respect to future events and financial performance and may include statements concerning our operations, cash flows, financial position, including with respect to vessel and other asset values, plans, objectives, goals, strategies, future events, performance or business prospects, changes and trends in our business and the markets in which we operate, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the impact of the novel coronavirus 2019 (“COVID-19”) pandemic and efforts throughout the world to contain its spread, including effects on global economic activity, demand for seaborne transportation of containerized cargo, the ability and willingness of charterers to fulfill their obligations to us, charter rates for containerships, shipyards performing scrubber installations, drydocking and repairs, changing vessel crews and availability of financing, the effects of the refinancing transactions in 2018, the effects of the contemplated upcoming refinancing transactions, the Company’s ability to achieve the expected benefits of its refinancing transactions and comply with the terms of its credit facilities and other agreements entered into in connection with the such refinancings, the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydocking, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by Danaos Corporation with the U.S. Securities and Exchange Commission.

The forward-looking statements and information contained in this announcement are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Company:
Evangelos Chatzis
Chief Financial Officer
Danaos Corporation
Athens, Greece
+30 210 419 6480
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Iraklis Prokopakis
Senior Vice President and Chief Operating Officer
Danaos Corporation
Athens, Greece
+30 210 419 6400
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Investor Relations and Financial Media
Rose & Company
New York
212-359-2228
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DUBLIN--(BUSINESS WIRE)--The "Ballast Water Treatment Systems (BWTS) - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.

According to the report, the Global Ballast Water Treatment Systems (BWTS) market accounted for $38.34 billion in 2019 and is expected to reach $420.52 billion by 2027 growing at a CAGR of 34.9% during the forecast period.

Some of the key factors propelling the market growth include growth in the size of shipping industry trade volume, rising government initiatives in line with the international maritime organization (IMO) regulations, increasing demand to optimize the utilization of resources, growing awareness about the benefits of water treatment and increasing demand for clean drinking water. However, the high cost of physical treatment systems and inclination for mechanical and chemical treatments are limiting the growth of the ballast water treatment systems (BWTS) market.

Ballast Water Treatment Systems (BWTS) is an emerging technology that is designed to eradicate and destroy microorganisms such as algae, bacteria, and zooplankton from ballast water. The purpose of BWTS is to minimize the transfer of non-indigenous harmful pathogens and aquatic organisms from one place to another through the ship's ballast water system. Invasive marine species are a threat to the oceans and their impact to the environment is irreversible. The system consists of ballast water pipes, tanks, pumps, and related valve parts. Ballast water is mainly carried by the ships to maintain stability and seaworthiness, when the ships are not carrying cargo.

Companies Mentioned

• Alfa Laval AB
• ATG UV Technology
• Headway Technology Co., Ltd.
• Trojan Marinex
• GenSys GmbH
• Damen Shipyards Group
• Calgon Carbon Corporation
• Wartsila Corporation
• GEA Group
• Hitachi
• Xylem Inc.
• Evoqua Water Technologies LLC
• Siemens
• Coldharbour Marine Ltd.
• Mitsubishi Heavy Industries Ltd.
• Veolia Environnement S.A.
• Ferrate Treatment Technologies, LLC
• Auramarine Ltd.

What the Report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter's five forces analysis, SWOT analysis, etc.
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Key Topics Covered:

1 Executive Summary

2 Preface

3 Market Trend Analysis

3.1 Introduction

3.2 Drivers

3.3 Restraints

3.4 Opportunities

3.5 Threats

3.6 Technology Analysis

3.7 Application Analysis

3.8 End User Analysis

3.9 Emerging Markets

3.10 Impact of Covid-19

4 Porters Five Force Analysis

4.1 Bargaining power of suppliers

4.2 Bargaining power of buyers

4.3 Threat of substitutes

4.4 Threat of new entrants

4.5 Competitive rivalry

5 Global Ballast Water Treatment Systems (BWTS) Market, By Type

5.1 Introduction

5.2 High Ballast Dependent Vessels

5.2.1 Dry Bulk Carriers

5.2.2 Tankers

5.3 Low Ballast Dependent Vessels

5.3.1 Container Ships

5.3.2 General Cargos

5.4 Reefer Ship

5.5 Multi-purpose Vessels

6 Global Ballast Water Treatment Systems (BWTS) Market, By Technology

6.1 Introduction

6.2 Mechanical Method

6.3 Physical Disinfection

6.4 Chemical Method

7 Global Ballast Water Treatment Systems (BWTS) Market, By Tank Capacity

7.1 Introduction

7.2 Greater than 5,000m3

7.3 1,500-5,000m3

7.4 Less than 1,500m3

8 Global Ballast Water Treatment Systems (BWTS) Market, By Service

8.1 Introduction

8.2 Performance Measurement

8.3 Manufacturing, Installation and Calibration

8.4 Recommissioning

9 Global Ballast Water Treatment Systems (BWTS) Market, By Sales Channel

9.1 Introduction

9.2 Aftermarket

9.3 Manufacturer/Distributor/Service Provider

10 Global Ballast Water Treatment Systems (BWTS) Market, By Application

10.1 Introduction

10.2 Portable

10.3 Stationary

10.4 Modify Ship

10.5 New Build Ship

11 Global Ballast Water Treatment Systems (BWTS) Market, By End User

11.1 Introduction

11.2 Military

11.3 Marine

11.4 Residential

11.5 Non-residential

12 Global Ballast Water Treatment Systems (BWTS) Market, By Geography

12.1 Introduction

12.2 North America

12.3 Europe

12.4 Asia Pacific

12.5 South America

12.6 Middle East & Africa

13 Key Developments

13.1 Agreements, Partnerships, Collaborations and Joint Ventures

13.2 Acquisitions & Mergers

13.3 New Product Launch

13.4 Expansions

13.5 Other Key Strategies

14 Company Profiling

For more information about this report visit https://www.researchandmarkets.com/r/mmj489

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DENVER--(BUSINESS WIRE)--Liberty Oilfield Services Inc. (NYSE: LBRT; “Liberty” or the “Company”) announced today fourth quarter and full year 2020 financial and operational results.

Summary Results and Highlights

• Revenue of $966 million and net loss¹ of $161 million, or $1.36 fully diluted loss per share, for the year ended December 31, 2020
• Adjusted EBITDA² of $58 million, which excludes stock based compensation of $17 million, and annualized Adjusted EBITDA per average active fleet of $4.4 million for the year ended December 31, 2020
• Revenue of $258 million for the quarter ended December 31, 2020, a 75% increase from the third quarter
• Net loss¹ of $48 million, or $0.41 fully diluted loss per share, for the quarter ended December 31, 2020
• Adjusted EBITDA² of $7 million, which excludes stock based compensation of over $4 million, for the quarter ended December 31, 2020
• Average active frac fleets increased to 15.8 in the fourth quarter of 2020, up 68% sequentially
• Record sand volume pumped per fleet in the fourth quarter of 2020
• Completed the acquisition of Schlumberger’s North American pressure pumping business, OneStim®, on December 31, 2020
• Expect to maintain 30 frac fleets working in the first quarter of 2021, relatively flat with the fourth quarter of 2020 fleet count when combined with OneStim®
• Additional frac fleet deployment in 2021 dependent on improved economics

“2020 was a year defined by adaptation in the face of adversity. We successfully navigated these challenges due to the unprecedented sacrifice and commitment of the Liberty family. We began the year with strong momentum in an already struggling frac market, but a collapse in oil demand resulting from the global pandemic became our new reality. The partnerships we have forged over the years allowed us to plan through the crisis. In April, we aligned our cost structure with our partners’ evolving activity levels while providing top tier performance with safety and efficiency. These decisive actions allowed us to hit our target set in April of positive cash flow during the last nine months of the 2020 pandemic crisis, and to set the stage for our future with the acquisition of OneStim®,” commented Chris Wright, Chief Executive Officer.

Mr. Wright continued, “We enter 2021 with a sense of resolve and determination to leverage a stronger business platform of unmatched technological advantages, highly complementary business lines and an invigorated team of professionals. We are motivated by the opportunities ahead of us and the trust of our customers. Our goal remains the same: developing and delivering next generation technologies and services for the sustainable development of unconventional energy resources. Our unique culture enables high quality services, ESG leadership and superior returns across cycles.”

Outlook

Early signs of a global economic recovery are now evident, driven by the rollout of COVID-19 vaccines, stimulative fiscal and monetary policies around the world, and pent-up demand for goods and services. These factors support continued improvement in energy demand, while controlled OPEC+ production and discipline among U.S. shale companies are supporting oil and gas prices. This is reflected in a rising rig count throughout the fourth quarter.

The number of total marketable frac fleets has declined significantly as the pandemic accelerated the pace of rationalization and cannibalization of frac equipment. As customer demand is shifting towards next generation technologies that support their emissions and efficiency goals, attrition of older equipment is expected to continue. This supply shrinkage is a necessary part of moving the market towards balance. The current pricing dynamic remains challenging, but Liberty is having many productive discussions with customers to phase in modest price improvements throughout the year. Liberty was proactive in working with them as oil prices collapsed, and that partnership works both ways.

E&P operators are navigating through significant industry consolidation, a change in the political climate and a general commitment to flat production levels relative to 2020 exit rates. West Texas Intermediate crude oil prices have improved since dedicated fleet negotiations for 2021 started in the fall. We believe the frac market will experience flat to slightly rising demand for frac services in 2021, based on current visibility into customer plans. Public operator demand is expected to be relatively level loaded, whereas private operator demand is more likely to be back loaded. Against this backdrop, Liberty expects to maintain approximately 30 active frac fleets in the first quarter of 2021, with the potential of adding more fleets later in the year if the economics improve. Increased efficiencies that lower our cost of delivery coupled with a gradual, modest rise in frac pricing are the factors that can drive improved fleet profitability.

Commenting on the outlook, Mr. Wright stated, “As we enter our tenth year in operation, we are excited to lead a technology-driven structural change in the industry. We are uniquely focused on extracting significant value from our acquisition by bringing together two of the leading technology-centric service businesses in our industry and building for the future with ongoing technology alliance agreement with Schlumberger. The early response to our acquisition of OneStim® has been positive, as customers are finding value in our technology leadership as the industry transitions to harnessing knowledge and data to drive decisions. Invention and creativity take center stage in an industry at the precipice of change, and Liberty remains committed to the next decade of innovation, as we were in our first decade as a company.”

2020 Full Year Results

For the year ended December 31, 2020, revenue decreased 51% to $966 million compared to $2 billion in 2019.

Net loss before incomes taxes totaled $192 million for the year ended December 31, 2020 compared to net income before income taxes of $89 million for the year ended December 31, 2019. Net loss before income taxes for the year ended December 31, 2020 included non-recurring transaction, severance and other costs of $21.1 million.

Net loss¹ (after taxes) totaled $161 million for the year ended December 31, 2020 compared to net income¹ of $75 million for the year ended December 31, 2019.

Adjusted EBITDA² decreased to $58 million in the year ended December 31, 2020 compared to $291 million in 2019. Annualized Adjusted EBITDA per average active frac fleet decreased to $4.4 million for the year ended December 31, 2020, compared to $12.8 million for the year ended December 31, 2019. Please refer to the reconciliation of Adjusted EBITDA (a non-GAAP measure) to net income (a GAAP measure) in this earnings release.

Fourth Quarter Results

For the fourth quarter of 2020, revenue increased 75% to $258 million from $147 million in the third quarter of 2020.

Net loss before income taxes totaled $58 million for the fourth quarter of 2020 compared to net loss before income taxes of $59 million for the third quarter of 2020. Net loss before income taxes for the fourth quarter of 2020 included non-recurring transaction, severance and other costs of $9.4 million compared to $2.6 million in the third quarter of 2020.

Net loss¹ (after taxes) totaled $48 million for the fourth quarter of 2020 compared to net loss¹ of $49 million in the third quarter of 2019.

Adjusted EBITDA² increased to $7 million from $1 million in the third quarter. Annualized Adjusted EBITDA per average active fleet increased to $1.8 million in the fourth quarter compared to $0.6 million in the third quarter. Please refer to the reconciliation of Adjusted EBITDA (a non-GAAP measure) to net income (a GAAP measure) in this earnings release.

Fully diluted loss per share was $0.41 for the fourth quarter of 2020 equivalent to fully diluted loss per share of $0.41 for the third quarter of 2020.

Balance Sheet and Liquidity

As of December 31, 2020, Liberty had cash on hand of $69 million and total debt of $106 million, net of deferred financing costs and original issue discount. There were no borrowings drawn on the ABL credit facility, and total liquidity, including availability under the credit facility, was $183 million.

Conference Call

Liberty will host a conference call to discuss the results at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on Friday, February 5, 2021. Presenting Liberty’s results will be Chris Wright, Chief Executive Officer, Ron Gusek, President, and Michael Stock, Chief Financial Officer.

Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers (412) 902-6704. Participants should ask to join the Liberty Oilfield Services call. A live webcast will be available at http://investors.libertyfrac.com. The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. The passcode for the replay is 10151812. The replay will be available until February 12, 2021.

About Liberty

Liberty is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it..

1. Net income/loss attributable to controlling and noncontrolling interests.
2. “Adjusted EBITDA” is not presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). Please see the supplemental financial information in the table under “Reconciliation of Net Income to EBITDA and Adjusted EBITDA” at the end of this earnings release for a reconciliation of the non-GAAP financial measure of Adjusted EBITDA to its most directly comparable GAAP financial measure.

Non-GAAP Financial Measures

This earnings release includes unaudited non-GAAP financial and operational measures, including EBITDA, Adjusted EBITDA and Pre-Tax Return on Capital Employed. We believe that the presentation of these non-GAAP financial and operational measures provides useful information about our financial performance and results of operations. Non-GAAP financial and operational measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies. The presentation of non-GAAP financial and operational measures is not intended to be a substitute for, and should not be considered in isolation from, the financial measures reported in accordance with U.S. GAAP. See the tables entitled Reconciliation and Calculation of Non-GAAP Financial and Operational Measures for a reconciliation or calculation of the non-GAAP financial or operational measures to the most directly comparable GAAP measure.

Forward-Looking and Cautionary Statements

The information above includes “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. All statements, other than statements of historical facts, included herein concerning, among other things, the deployment of fleets in the future, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, return of capital to stockholders, business strategy and objectives for future operations, are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “outlook,” “project,” “plan,” “position,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “likely,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. These forward-looking statements represent our expectations or beliefs concerning future events, and it is possible that the results described in this earnings release will not be achieved. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in Liberty's filings with the Securities and Exchange Commission. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for us to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in “Item 1A. Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2019 as filed with the SEC on February 27, 2020 and in our other public filings with the SEC. These and other factors could cause our actual results to differ materially from those contained in any forward-looking statements.

1. In accordance with U.S. GAAP, diluted weighted average common shares outstanding for the three months ended December 31, and September 30, 2020, and December 31, 2019, exclude weighted average shares of Class B common stock (21,970, 27,763, and 32,993, respectively), restricted shares (79, 235, and 349, respectively) and restricted stock units (2,507, 2,458, and 2,066, respectively) outstanding during the period. For the year ended December 31, 2020, diluted weighted average common shares outstanding excludes the weighted average shares of Class B common stock (27,427), restricted shares (207) and restricted stock units (2,460) outstanding during the period. For the year ended December 31, 2019, diluted weighted average common shares outstanding excludes the weighted average shares of Class B common stock (9,057) exchanged during the period (share counts presented in 000's).
2. Capital expenditures presented above are shown on an as incurred basis, including capital expenditures in accounts payable and accrued liabilities.
3. Adjusted EBITDA is a non-GAAP financial measure. See the tables entitled “Reconciliation and Calculation of Non-GAAP Financial and Operational Measures” below.
4. Average Active Fleets is calculated as the daily average of the number of active fleets for the period presented.
5. Annualized Adjusted EBITDA per Average Active Fleet is calculated as Adjusted EBITDA for the year, or respective quarter annualized, divided by the Average Active Fleets, as defined above.

1. In accordance with ASC Topic 805 - Business Combinations, an acquirer is allowed a period, referred to as the measurement period, in which to complete its accounting for the transaction. Such measurement period ends at the earliest date that the acquirer a) receives the information necessary or b) determines that it cannot obtain further information, and such period may not exceed one year. As the OneStim® transaction closed on December 31, 2020, the Company is in the process of completing the initial purchase price allocation. The condensed consolidated balance sheet as of December 31, 2020 reflects the Company’s current estimate of its initial purchase price allocation.

1. Average Capital Employed is the simple average of Total Capital Employed as of December 31, 2020 and 2019.
2. Pre-tax Return on Capital Employed is the ratio of pre-tax net income for the twelve months ended December 31, 2020 to Average Capital Employed.

Michael Stock
Chief Financial Officer
303-515-2851
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DUBLIN--(BUSINESS WIRE)--The "China - Shipping Containers - Market Analysis, Forecast, Size, Trends and Insights" report has been added to ResearchAndMarkets.com's offering.

The report provides an in-depth analysis of the shipping container market in China. It presents the latest data of the market size and volume, exports and imports, price dynamics and turnover in the industry.

The report shows the sales data, allowing you to identify the key drivers and restraints. You can find here a strategic analysis of key factors influencing the market. Forecasts illustrate how the market will be transformed in the medium term.

Data coverage:

• Shipping container market size and value in China
• Volume and dynamics of shipping container production in China
• Volume and dynamics of exports/imports
• Producer prices, import/export prices for shipping containers
• Shipping container market trends, drivers and restraints
• Forecast of the market dynamics in the medium term
• Per capita consumption of shipping containers in China

Why buy this report?

• Get the full picture of the market
• Identify Key success factors on the shipping container market in China
• Adjust your marketing strategy

Key Topics Covered:

1. Introduction

Making Data-Driven Decisions To Grow Your Business

1.1 Report Description

1.2 Research Methodology And AI Platform

1.3 Data-Driven Decisions For Your Business

1.4 Glossary And Specific Terms

2. Executive Summary

A Quick Overview Of Market Performance

2.1 Key Findings

2.2 Market Trends

3. Market Overview

Understanding The Current State Of The Market And Its Prospects

3.1 Market Size

3.2 Market Structure

3.3 Trade Balance

3.4 Per Capita Consumption

3.5 Market Forecast To 2025

4. Most Promising Products

Finding New Products To Diversify Your Business

4.1 Top Products To Diversify Your Business

4.2 Best-Selling Products Worldwide

4.3 Most Consumed Product Worldwide

4.4 Most Traded Product

4.5 Most Profitable Product For Export

5. Most Promising Supplying Countries

Choosing The Best Countries To Establish Your Sustainable Supply Chain

5.1 Top Countries To Source Your Product

5.2 Top Producing Countries

5.3 Top Exporting Countries

5.4 Low-Cost Exporting Countries

6. Most Promising Overseas Markets

Choosing The Best Countries To Boost Your Exports

6.1 Top Overseas Markets For Exporting Your Product

6.2 Top Consuming Markets

6.3 Unsaturated Markets

6.4 Top Importing Markets

6.5 Most Profitable Markets

7. Production

The Latest Trends And Insights Into The Industry

7.1 Production Volume And Value

8. Imports

The Largest Importers On The Market And How They Succeed

8.1 Imports From 2007-2017

8.2 Imports By Country

8.3 Import Prices By Country

9. Exports

The Largest Exporters On The Market And How They Succeed

9.1 Exports From 2007-2017

9.2 Exports By Country

9.3 Export Prices By Country

For more information about this report visit https://www.researchandmarkets.com/r/e6tng1

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

Consideration Includes Sale of Grand Isle Gathering System

KANSAS CITY, Mo.--(BUSINESS WIRE)--CorEnergy Infrastructure Trust, Inc. ("CorEnergy" or the "Company") today announced the acquisition (the “Transaction”) of Crimson Midstream Holdings, LLC (“Crimson”), a California Public Utilities Commission (CPUC) regulated crude oil pipeline owner and operator, for consideration valued at approximately $350 million. The acquired assets include four critical infrastructure pipeline systems spanning approximately 1,800 miles across northern, central and southern California, connecting desirable native California crude production to in-state refineries producing state-mandated specialized fuel blends, among other products.

The acquisition was funded with a combination of cash on hand, commitments to issue, as described below, approximately $119.4 million of new common and preferred equity, contribution of the Grand Isle Gathering System (GIGS) to the sellers, and $105.0 million in new term and revolver borrowings. The acquired assets qualify for REIT treatment under established IRS regulations and CorEnergy’s Private Letter Ruling (PLR).

Crimson Transaction Highlights and Outlook

• Results in ownership of six pipeline systems in three markets serving diversified, creditworthy shippers
• Enhances CorEnergy’s reliance on regulated contractual revenue sources
• Crimson’s asset base and operating expertise facilitate greater potential for strategic acquisitions in the future
• Expected run rate combined EBITDA of $50-$52 million on an annualized basis in beginning in Q2 2021¹
• Total leverage at closing of approximately 4.4x expected EBITDA; senior secured leverage of 2.1x
• Will use cash flow to further de-leverage to a target of < 4.0x to create financial flexibility and reduce risk
• Incremental cash flow generated by acquisition will cover an initial $.20 annualized common stock dividend² increasing to a target of $.35 - $.40 upon a return to pre-COVID market conditions in California, with near term commercial opportunities providing upside

Following the transaction, Dave Schulte will remain Chairman, CEO and President of CorEnergy. John Grier, founder and Board Chairman of Crimson Midstream, LLC, will become Chief Operating Officer and join the Board of Directors of CorEnergy. Additional members of Crimson’s executive and operating teams joining CorEnergy, include Robert Waldron, Chief Financial Officer at Crimson Midstream, who will become CFO of CorEnergy and Larry Alexander, President of Crimson California’s operations.

Commented Dave Schulte, “The acquisition of Crimson diversifies CORR’s critical infrastructure portfolio with four new pipeline networks and positions CorEnergy as an owner/operator of utility-like assets in line with expectations for our industry leading REIT qualifying platform. John and his team operate safely and reliably in a highly regulated market, and we plan to leverage their expertise to continue to grow our newly combined company. Additionally, we are exchanging CorEnergy’s single-tenant GIGS asset for long-lived critical infrastructure pipeline systems used by a diverse group of investment-grade rated customers.”

“Our combined ability to pursue additional opportunities leveraging Crimson’s oil market relationships, together with CorEnergy’s natural gas transmission assets, establishes a diversified foundation for future acquisition consideration,” said John Grier. “The Crimson pipeline networks connect multi-billion dollar refining complexes to low declining fields, producing desirable native grades of California crude oil, which is required for blended energy products satisfying state environmental standards. We are confident that Crimson’s total system volumes will increase from current levels as both consumers and producers return to pre-COVID-19 activity levels. In addition, we believe that there are commercial growth opportunities in California that could provide additional contributions to cash flow, including opportunities to leverage Crimson’s leading position in the market and extensive real property ownership for renewable fuel storage and distribution, carbon capture potential, and the shift to lower carbon power sourcing.”

Internalization of Manager

CorEnergy has also agreed to internalize (the “Internalization”) its REIT manager, Corridor InfraTrust Management, LLC (the “Manager”), for consideration of $16.9 million. As a result of the Internalization, CorEnergy anticipates that the pro forma management fees of approximately $5.5 million will be replaced with an estimated $3.4 million annualized SG&A expenses in 2021.

The Internalization was negotiated and approved by a special committee of CorEnergy’s Board of Directors comprised entirely of independent directors (the “Special Committee”). The Internalization will result in the direct employment of the Manager’s existing management team and certain other employees. The Internalization is subject to stockholder approval in compliance with NYSE rules and other customary closing conditions, and is expected to close in the second quarter of 2021. Evercore Inc. acted as financial advisor to the independent Special Committee and issued a fairness opinion in connection with the Internalization.

Internalization Highlights

• Increases equity ownership of the key executives, which further aligns the interests of those executives with those of CorEnergy’s stockholders
• Expected cost savings of approximately $2 million annualized in 2021 with additional cost savings as CorEnergy continues to grow through elimination of the existing asset-based management fee and dividend growth incentive fee
• Results in more transparent corporate structure and governance

“With the expansion of our assets and increased scale of our operating businesses, we believe it is appropriate to change the external manager structure, which enabled us to launch CORR in 2012,” said Dave Schulte. “The combined management team’s equity ownership enhances our alignment with our stockholders’ interest in the success of CorEnergy delivering dividend stability and long-term growth prospects.”

Crimson Transaction and Internalization Details

The Transaction is valued at $350.0 million, with CorEnergy’s consideration comprised of $75.6 million of cash on hand, $105.0 million in new term loan and revolver borrowings, contribution of the Grand Isle Gathering System (GIGS) to the sellers, $119.4 million of commitments to issue common and preferred equity.

Grier will initially receive new equity units in Crimson in connection with the Transaction, and those units will become convertible into CorEnergy common and preferred stock as described below. The conversion of the Crimson units to CorEnergy securities is contingent on obtaining CPUC approval, which is expected to occur in the third quarter of 2021. At that time, certain Crimson units held by Grier are expected to be transferred to other individuals currently managing Crimson. Additionally, Crimson units exchangeable for CorEnergy preferred stock only become convertible into CorEnergy common stock if existing CorEnergy stockholders approve such conversion into common stock in accordance with NYSE rules.

Assuming conversion of all Crimson units to CorEnergy securities and approval of CORR stockholders, Grier, other Crimson managers, and owners of the Manager will own approximately 49% of CorEnergy’s common stock and Class B common stock. The Class B common stock dividend will be subordinated to CorEnergy’s currently outstanding common stock, until pre-determined performance milestones for dividend stability and growth are achieved.

Conference Call

The Company will host a conference call to discuss the Transaction on Friday, February 5, 2021 at 10:00 a.m. Eastern Time. To join the call, please dial +1-201-689-8035 at least five minutes prior to the scheduled start time. The call will also be webcast in a listen-only format. A link to the webcast will be accessible at corenergy.reit. Additionally, the Company has filed a Form 8-K and provided an investor deck for the conference call, both available online at corenergy.reit.

A replay of the call will be available until 1:00 p.m. Central Time on March 7, by dialing +1-919-882-2331. The Conference ID is 39878. A webcast replay of the conference call will also be available on the Company’s website, corenergy.reit.

About CorEnergy Infrastructure Trust, Inc.

CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) is a real estate investment trust that owns and operates or leases regulated natural gas transmission and distribution and crude oil gathering, storage and transmission pipelines and associated rights-of-way. For more information, please visit corenergy.reit.

Forward-Looking Statements

This press release contains certain statements that may include "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 fact, included herein are "forward-looking statements." Although CorEnergy 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. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including, among others, failure to realize the anticipated benefits of the Transaction or Internalization; the risk that CPUC approval is not obtained, is delayed or is subject to unanticipated conditions that could adversely affect CorEnergy or the expected benefits of the Transaction, risks related to the uncertainty of the projected financial information with respect to Crimson, the failure to receive the required approvals by existing CorEnergy stockholders; the risk that a condition to the closing of the Internalization may not be satisfied, CorEnergy’s ability to consummate the Internalization, and those factors discussed in CorEnergy’s reports that are filed with 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 by law, CorEnergy does not assume a duty to update any forward-looking statement. In particular, any distribution paid in the future to our stockholders will depend on the actual performance of CorEnergy, its costs of leverage and other operating expenses and will be subject to the approval of CorEnergy’s Board of Directors and compliance with leverage covenants.

Non-GAAP Financial Measures

This document includes certain non-GAAP financial measures that are not prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and that may be different from non-GAAP financial measures used by other companies. CorEnergy believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating the Transaction. These non-GAAP measures should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. Additionally, to the extent that forward-looking non-GAAP financial measures are provided, including EBITDA, they are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation.

Additional Information and Where to Find It

The issuance of CorEnergy common stock upon conversion of CorEnergy preferred stock in connection with the Transaction as described above (the “Stock Issuance”) and the Internalization will be submitted to the stockholders of CorEnergy for their consideration. In connection with the Stock Issuance and Internalization, CorEnergy intends to file a proxy statement and other documents with the SEC. INVESTORS AND CORENERGY STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) REGARDING THE STOCK ISSUANCE AND INTERNALIZATION AND OTHER DOCUMENTS RELATING TO THE TRANSACTIONS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE STOCK ISSUANCE AND INTERNALIZATION. The proxy statement and other relevant documents (when they become available), and any other documents filed by CorEnergy with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, stockholders may obtain free copies of the documents filed with the SEC by CorEnergy through its website at corenergy.reit. The information on CorEnergy’s website is not, and shall not be deemed to be a part hereof or incorporated into this or any other filings with the SEC. You may also request them in writing, by telephone or via the Internet at:

CorEnergy Infrastructure Trust, Inc.
Investor Relations
877-699-CORR (2677)
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Participants in the Solicitation

CorEnergy, the Manager and their respective directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies from CorEnergy’s stockholders in respect of the Stock Issuance and Internalization. Information about CorEnergy’s directors and executive officers is available in CorEnergy’s definitive proxy statement, prepared in connection with CorEnergy’s 2020 annual meeting of stockholders and will be set forth in the proxy statement in respect of the Stock Issuance and Internalization when it is filed with the SEC. Other information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies from CorEnergy’s stockholders in connection with the Internalization, including a description of their direct or indirect interests, by security holdings or otherwise, in CorEnergy will be set forth in the proxy statement in respect of the Stock Issuance and Internalization when it is filed with the SEC. You can obtain free copies of these documents, which are filed with the SEC, from CorEnergy using the contact information above.

¹ 2021 EBITDA will be reconciled to GAAP metrics in periodic reports
² Common stock dividends are subject to approval by the board of directors

Source: CorEnergy Infrastructure Trust, Inc.

CorEnergy Infrastructure Trust, Inc.
Investor Relations
Debbie Hagen or Matt Kreps
877-699-CORR (2677)
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NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (Nasdaq:CLNE) announced today it will release financial results for the fourth quarter of 2020 on March 9, 2021 after market close, followed by an investor conference call at 4:30 p.m. Eastern time (1:30 p.m. Pacific). President and Chief Executive Officer of Clean Energy Andrew J. Littlefair and Chief Financial Officer Robert M. Vreeland will host the call.

Investors interested in participating in the live call can dial 1.877.407.4018 from the U.S. and international callers can dial 1.201.689.8471. A telephone replay will be available approximately two hours after the call concludes through Friday, April 9 by dialing 1.844.512.2921 from the U.S., or 1.412.317.6671 from international locations, and entering Replay Pin Number 13715902.

There also will be a simultaneous, live webcast available on the Investor Relations section of the Company's web site at www.cleanenergyfuels.com, which will be available for replay for 30 days.

About Clean Energy Fuels Corp.

Clean Energy Fuels Corp. is North America’s leading provider of the cleanest fuel for the transportation market. Through its sales of renewable natural gas (RNG), which is derived from biogenic methane produced by the breakdown of organic waste, Clean Energy helps thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas by at least 70% and up to 300% depending on the RNG feedstock. Clean Energy can deliver RNG through compressed natural gas (CNG) and liquefied natural gas (LNG) to its network of approximately 550 fueling stations across the U.S. and Canada. Clean Energy builds and operates CNG and LNG fueling stations for the transportation market, owns natural gas liquefaction facilities in California and Texas, and transports bulk CNG and LNG to non-transportation customers around the U.S. For more information, visit www.cleanenergyfuels.com.

Robert M. Vreeland, CFO
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HOUSTON--(BUSINESS WIRE)--NOV Inc. (NYSE: NOV) today reported fourth quarter 2020 revenues of $1.33 billion, a decrease of four percent compared to the third quarter of 2020 and a decrease of 42 percent compared to the fourth quarter of 2019. Net loss for the fourth quarter of 2020 was $347 million, or -26.1 percent of sales, which included non-cash, pre-tax charges (“Other Items”, see Other Corporate Items for additional detail) of $236 million. Adjusted EBITDA (operating profit excluding depreciation, amortization, and Other Items) decreased $54 million sequentially to $17 million, or 1.3 percent of sales.

Revenues for the full year 2020 were $6.09 billion, operating loss was $2.43 billion, and net loss was $2.54 billion, or $6.62 per share. Adjusted EBITDA for the full year was $350 million, or 5.7 percent of sales.

“Throughout a year in which the petroleum industry faced historic challenges, our team successfully generated $700 million in free cash flow, reduced annual fixed costs by several hundred million dollars, and launched new products in both oil and gas and renewables,” commented Clay Williams, Chairman, President and CEO. “Nevertheless, the operating environment remains extremely difficult as international and offshore oilfield activity declined steadily throughout 2020, pressuring our longer-cycle capital equipment business.”

“During the fourth quarter, rising oilfield activity and revenues in North America were not enough to offset the declines in international and offshore markets, as customers continued to defer purchases and project approvals. However, while we expect the next two quarters will remain challenging, steadily improving commodity prices, rising North American drilling activity, encouraging news from global vaccination efforts, gradually reopening economies, and increasing interest in offshore wind energy should lead to rising orders for NOV as the year progresses. We are optimistic that the petroleum industry will realize a meaningful recovery in the second half of the year.”

Wellbore Technologies
Wellbore Technologies generated revenues of $373 million in the fourth quarter of 2020, an increase of three percent from the third quarter of 2020 and a decrease of 51 percent from the fourth quarter of 2019. The increase in revenues resulted from increased drilling activity levels in North America partially offset by declines in international and offshore markets. Operating loss, which included $46 million in Other Items, was $78 million. Adjusted EBITDA decreased $9 million sequentially and $131 million from the prior year to $12 million, or 3.2 percent of sales.

Completion & Production Solutions
Completion & Production Solutions generated revenues of $546 million in the fourth quarter of 2020, a decrease of nine percent from the third quarter of 2020 and a decrease of 32 percent from the fourth quarter of 2019. Lower backlog and logistical disruptions from COVID-19-related restrictions contributed to the sequential decline. Operating loss, which included $43 million in Other Items, was $31 million. Adjusted EBITDA decreased $35 million sequentially and $68 million from the prior year to $28 million, or 5.1 percent of sales.

New orders booked improved 27 percent sequentially to $215 million, representing a book-to-bill of 66 percent when compared to the $328 million of orders shipped from backlog. Backlog for capital equipment orders for Completion & Production Solutions at December 31, 2020 was $696 million.

Rig Technologies
Rig Technologies generated revenues of $437 million in the fourth quarter of 2020, a decrease of three percent from the third quarter of 2020 and a decrease of 42 percent from the fourth quarter of 2019. Declining offshore drilling activity levels resulting in lower capital equipment backlog contributed to the sequential decline in revenues. Operating loss, which included $132 million in Other Items, was $132 million. Adjusted EBITDA decreased $9 million sequentially and $93 million from the prior year to $19 million, or 4.3 percent of sales.

New orders booked during the quarter totaled $190 million, representing a book-to-bill of 105 percent when compared to the $181 million of orders shipped from backlog. At December 31, 2020, backlog for capital equipment orders for Rig Technologies was $2.7 billion.

Other Corporate Items
During the fourth quarter, the Company recognized $236 million in restructuring charges, primarily due to inventory reserves, severance costs and facility closures. See reconciliation of Adjusted EBITDA to Net Income.

As of December 31, 2020, the Company had total debt of $1.83 billion, with $2.00 billion available on its revolving credit facility, and $1.69 billion in cash and cash equivalents.

Significant Achievements
NOV continues to solidify its position as the market leader in the offshore wind turbine installation vessel market. In the fourth quarter, NOV secured awards for the design and jacking systems for the first U.S.-built, Jones Act-compliant offshore wind turbine installation vessel. NOV also secured a crane upgrade order for a customer who is upgrading an existing vessel’s capacity for the heavier weights of the larger, next generation of offshore wind turbines. Additionally, NOV recently won an award from a European contractor for the design, jacking system and cranes for another wind turbine installation vessel.

NOV recently completed the installation of TK™-Liner systems for two geothermal wells in Holland. TK™-Liner is a high-performance glass-reinforced epoxy lining system designed to protect new and used tubulars in corrosive environments. Following the successful delivery and installation of these two systems, the customer placed additional orders for delivery in the first half of 2021.

NOV continues to expand its digital presence in the global completions market with updates to its CTES™ Cerberus™ and OrionNET™ software systems. The market-leading solutions are used to model fatigue life, tubing forces, and hydraulics in coiled tubing, wireline and jointed pipe operations. Improved cloud functionality enables better use of real-time data from remote operations by engineers in the field as well as in the office, enhancing operational efficiencies and well productivity through improved analysis and decision making.

Adoption of NOV’s SelectShift™ drilling motor technology accelerated meaningfully in the fourth quarter. More customers are realizing the benefit of the tool’s ability to change bend settings quickly and reliably while downhole. NOV also recently introduced the SelectShift™ 1,000, which combines the versatility of SelectShift™ with an all-new ERT™ power section capable of delivering an industry-leading 1,000 horsepower to the drill bit.

NOV’s Vector™ Series 40 drilling motor with an ERT™ power section was used in combination with a rotary steerable system to drill a record lateral in Northeastern U.S. during the quarter. The motor and power section enabled a customer to drill the longest single run lateral in the Marcellus to date.

NOV secured an order for two 1,000-horsepower land rig packages to a customer in the Middle East. The rigs are equipped with fully-automated pipe-handling systems, NOVOS™ drilling automation and the Maestro™ Power Management system, which uses data acquired through NOVOS™ to optimize the power consumption and load balancing of the rig components throughout the drilling process, resulting in significant fuel consumption savings.

NOV’s Quality Tubing™ 2.625-inch ATP-130 coiled tubing string set a performance record in the Permian Basin. The string completed 64 runs on 48 jobs and reached 1,266,489 running feet before our customer retired the string, making it NOV’s most successful 2.625-inch string. NOV also manufactured two of the longest Quality Tubing™ 2.875-inch outside diameter coiled tubing strings in its history for a valued customer in the Middle East. The 2.875-inch strings measure greater than 30,000 feet in length, which equates to over 5½ miles of continuously milled coiled tubing, weighing approximately 214,000 pounds per string.

NOV successfully installed and commissioned a TruScope A/S™ inspection system for a leading materials research institution in Asia. This high-speed tubular inspection system combines ultrasonic and electromagnetic test methods for the detection of tube body defects. In a single pass, the system detects, evaluates, and classifies transverse, longitudinal, and oblique internal and external flaws as well as wall thickness variations and laminations.

NOV won several orders for its glass-reinforced epoxy (“GRE”) products. NOV successfully signed a contract with a major shipbuilder in Asia to provide ballast, sea water, and marine growth prevention system GRE lines for a Floating Production Storage and Offloading (FPSO) vessel that will be used in Brazil. NOV also won awards to supply the topside GRE piping for the seawater, drain, and produced water systems for an FPSO in Guyana and GRE piping for the seawater and drain systems for an offshore platform in Asia.

Fourth Quarter Earnings Conference Call
NOV will hold a conference call to discuss its fourth quarter 2020 results on February 5, 2021 at 10:00 AM Central Time (11:00 AM Eastern Time). The call will be broadcast simultaneously at www.nov.com/investors. A replay will be available on the website for 30 days.

About NOV
NOV (NYSE: NOV) delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.

Visit www.nov.com for more information.

Cautionary Statement for the Purpose of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995
Statements made in this press release that are forward-looking in nature are intended to be “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. These statements may differ materially from the actual future events or results. Readers are referred to documents filed by NOV with the Securities and Exchange Commission, including the Annual Report on Form 10-K, which identify significant risk factors which could cause actual results to differ from those contained in the forward-looking statements.

Certain prior period amounts have been reclassified in this press release to be consistent with current period presentation.

NOV INC.
RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME (LOSS) (Unaudited)
(In millions)

The Company discloses Adjusted EBITDA (defined as Operating Profit excluding Depreciation, Amortization and, when applicable, Other Items) in its periodic earnings press releases and other public disclosures to provide investors additional information about the results of ongoing operations. The Company uses Adjusted EBITDA internally to evaluate and manage the business. Adjusted EBITDA is not intended to replace GAAP financial measures, such as Net Income. Other Items include impairment charges, inventory charges and severance and other restructuring costs.

Blake McCarthy
Vice President, Corporate Development and Investor Relations
(713) 815-3535
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DALLAS--(BUSINESS WIRE)--Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) announced today that its Board of Directors approved an increase in the Company’s quarterly cash dividend to $0.56 per share (equivalent to $2.24 per share on an annualized basis). The quarterly dividend of $0.56 per share is payable April 14, 2021, to stockholders of record at the close of business on March 31, 2021.

Pioneer is a large independent oil and gas exploration and production company, headquartered in Dallas, Texas, with operations in the United States. For more information, visit www.pxd.com.

Pioneer Natural Resources Contacts:

Investors
Neal Shah – 972-969-3900
Tom Fitter – 972-969-1821
Michael McNamara – 972-969-3592
Greg Wright – 972-969-1770

Media and Public Affairs
Tadd Owens – 972-969-5760

MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company”) announced today that it has priced its previously announced underwritten public offering of 12,500,000 shares of its common stock at a price to the public of $9.75 per share (the “Offering”). The Company has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of its common stock. The Offering is expected to close on February 9, 2021, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the Offering to partially fund the cash purchase price of the Company’s recently announced pending acquisition of certain non-operated natural gas assets in the Appalachian Basin from Reliance Marcellus, LLC (the “Reliance Acquisition”). The consummation of the Offering is not conditioned upon the completion of the Reliance Acquisition and the consummation of the Offering is not a condition to the completion of the Reliance Acquisition. If the Reliance Acquisition is not consummated, the Company intends to use the net proceeds of the Offering to repay or redeem outstanding indebtedness and for general corporate purposes.

BofA Securities is acting as representative of the underwriters and is a joint book-running manager for the Offering. RBC Capital Markets, Wells Fargo Securities, Citigroup and Truist Securities are also serving as joint book-running managers for the Offering. The Offering is being made only by means of a prospectus supplement and the accompanying base prospectus, which was filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission on Form S-3. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement, once available, may be obtained on the Securities and Exchange Commission’s website at www.sec.gov or by contacting BofA Securities by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it.; RBC Capital Markets, Attention: Equity Capital Markets, 200 Vesey Street, New York, NY 10281, by telephone at 877-822-4089 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; Wells Fargo Securities, 500 West 33rd Street, New York, New York 10001, Attention: Equity Syndicate Department (fax no: (212) 214-5918); Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); and Truist Securities, Inc., 3333 Peachtree Road NE, 9^th Floor, Atlanta, Georgia 30326, Attention: Prospectus Department, Email: This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these securities in any state or jurisdiction 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 NORTHERN OIL AND GAS

Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States.

SAFE HARBOR

This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934. All statements, other than statements of historical facts included in this press release, are forward-looking statements, including, but not limited to, statements regarding the expected closing date of the Offering and the anticipated use of the net proceeds therefrom. When used in this press release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.

Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond the Company’s control) that could cause actual results to differ materially from those set forth in the forward looking statements, including the following: changes in crude oil and natural gas prices; the pace of drilling and completions activity on the Company’s properties and properties pending acquisition; the Company’s ability to acquire additional development opportunities; potential or pending acquisition transactions, including the Reliance Acquisition; the Company’s ability to consummate the Reliance Acquisition, the anticipated timing of such consummation, and any anticipated financing transactions in connection therewith; the projected capital efficiency savings and other operating efficiencies and synergies resulting from the Company’s acquisition transactions; integration and benefits of property acquisitions, including the Reliance Acquisition, or the effects of such acquisitions on the Company’s cash position and levels of indebtedness; changes in the Company’s reserves estimates or the value thereof; disruptions to the Company’s business due to acquisitions and other significant transactions; general economic or industry conditions, nationally and/or in the communities in which the Company conducts business; changes in the interest rate environment, legislation or regulatory requirements; conditions of the securities markets; the Company’s ability to raise or access capital; changes in accounting principles, policies or guidelines; financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting the Company’s operations, products and prices; and the COVID-19 pandemic and its related economic repercussions and effect on the oil and natural gas industry. Additional information concerning potential factors that could affect future financial results is included in the section entitled “Item 1A. Risk Factors” and other sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and the Company’s Quarterly Report on Form 10-Q for the fiscal quarters ended March 31, 2020, June 30, 2020 and September 30, 2020, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause the Company’s actual results to differ from those set forth in the forward looking statements.

The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. The Company does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.

Mike Kelly, CFA
EVP, Finance
952-476-9800
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MINNEAPOLIS--(BUSINESS WIRE)--C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (Nasdaq: CHRW) announced that its Board of Directors today declared a regular quarterly cash dividend of 51 cents ($0.51) per share, payable on April 1, 2021, to shareholders of record on March 5, 2021.

C.H. Robinson has distributed regular dividends for more than twenty-five years. As of February 4, 2021, there were approximately 133,918,904 shares outstanding.

About C.H. Robinson

C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With $21 billion in freight under management and 19 million shipments annually, we are one of the world’s largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world’s economy. With the combination of our multimodal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our more than 105,000 customers and 73,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers’ businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit us at www.chrobinson.com (Nasdaq: CHRW).

Source: C.H. Robinson

CHRW-IR

Chuck Ives, Director of Investor Relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Regulatory News:

TechnipFMC plc (NYSE: FTI) (Paris: FTI) (ISIN:GB00BDSFG982) today announced the timing and details regarding its previously announced separation into two industry-leading, independent, publicly traded companies: TechnipFMC, a fully integrated technology and services provider; and Technip Energies, a leading engineering and technology player (“Technip Energies”). The transaction is structured as a spin-off of a majority stake in TechnipFMC’s Technip Energies segment in the form of a share dividend pursuant to which holders of TechnipFMC shares will receive shares of Technip Energies (the “Spin-off”).

Subject to satisfaction of customary conditions and receipt of regulatory approvals, the last day of trading of TechnipFMC shares that include the right to receive Technip Energies shares on the New York Stock Exchange (“NYSE”) and Euronext Paris stock exchange (“Euronext Paris”) will be February 12, 2021 and February 15, 2021, respectively. TechnipFMC shares would then commence trading on a standalone basis on NYSE and Euronext Paris on February 16, 2021.

TechnipFMC has established February 16, 2021 as the distribution date (the “Distribution Date”) and 5:00 p.m., New York time, on February 17, 2021 as the record date (the “Record Date”). On the Distribution Date, TechnipFMC shareholders on the Record Date will be eligible to receive, based on the expected distribution ratio, one Technip Energies share for every five TechnipFMC shares (the “Distribution”).

Technip Energies will become an independent public company and no longer part of TechnipFMC at 9:00 a.m. CET on the ex-date, February 16, 2021, which is the dividend detachment date in respect of the Distribution of the Technip Energies shares. Accordingly, Technip Energies shares will commence trading on an if-and-when-delivered (conditional upon delivery) basis on Euronext Paris at market open at 9:00 a.m. CET on February 16, 2021, with delivery on February 23, 2021 (the “Payment Date”). Regular trading in the Technip Energies shares on Euronext Paris will start at 9:00 a.m. CET on February 19, 2021.

Technip Energies intends to establish a sponsored American Depositary Receipt (“ADR”) program in the United States as of the Payment Date. Trading of the ADRs is expected to commence on the over-the-counter market upon approval and announcement by the Financial Industry Regulatory Authority, Inc. (“FINRA”). There is no assurance when trading of the ADRs will begin. Technip Energies will provide a subsequent announcement with updated information regarding the trading of the ADRs following Technip Energies’ receipt of such information from FINRA.

TechnipFMC shareholders will not receive fractional Technip Energies shares. In the event that a TechnipFMC shareholder is entitled to receive fractional Technip Energies shares, such fractional Technip Energies shares will be aggregated and sold. Following completion of such sale, each such TechnipFMC shareholder will receive from the relevant intermediary a cash payment from the net proceeds of the sale in lieu of any fractional Technip Energies shares that such TechnipFMC shareholder would have otherwise received.

In advance of the Spin-off, Technip Energies will publicly file a definitive version of the registration statement on Form F-1, which will be available at www.sec.gov, and will publish a European prospectus that has been approved by the Dutch Authority for the Financial Markets (Stichting Autoriteit Financiële Markten) and passported to the French Autorité des marchés financiers. The European prospectus will be published and made available at no cost through the corporate website of Technip Energies (www.technipenergies.com).

Important Information for Investors and Securityholders

About TechnipFMC

TechnipFMC is a global leader in the energy industry; delivering projects, products, technologies and services. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our customers’ project economics.

Organized in three business segments — Subsea, Surface Technologies and Technip Energies — we are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our customers in developing their energy resources and in their positioning to meet the energy transition challenge.

Each of our approximately 36,000 employees is driven by a steady commitment to clients and a culture of project execution, purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.

TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world’s energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

Forward-looking statements

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Words such as “expect,” “plan,” “intend,” “would,” “will,” and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, and include any statements with respect to the potential separation of the Company into TechnipFMC and Technip Energies, the expected financial and operational results of TechnipFMC and Technip Energies after the potential separation and expectations regarding TechnipFMC’s and Technip Energies’ respective capital structures, businesses or organizations after the potential separation. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the U.S. Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, our filings with the Autorité des marchés financiers or the U.K. Financial Conduct Authority, as well as the following:

• risks associated with disease outbreaks and other public health issues, including the coronavirus disease 2019, their impact on the global economy and the business of our company, customers, suppliers and other partners, changes in, and the administration of, treaties, laws, and regulations, including in response to such issues and the potential for such issues to exacerbate other risks we face, including those related to the factors listed or referenced below;
• risks associated with the impact or terms of the potential separation;
• risks associated with the benefits and costs of the potential separation, including the risk that the expected benefits of the potential separation will not be realized within the expected time frame, in full or at all;
• risks that the conditions to the potential separation, including regulatory approvals, will not be satisfied and/or that the potential separation will not be completed within the expected time frame, on the expected terms or at all;
• the expected tax treatment of the potential separation, including as to shareholders in the United States or other countries;
• risks associated with the sale by TechnipFMC of shares of Technip Energies to Bpifrance Participations SA, including whether the conditions to closing will be satisfied;
• changes in the shareholder bases of TechnipFMC and Technip Energies, and volatility in the market prices of their respective shares, including the risk of fluctuations in the market price of Technip Energies’ shares as a result of substantial sales by TechnipFMC of its interest in Technip Energies;
• risks associated with any financing transactions undertaken in connection with the potential separation;
• the impact of the potential separation on our businesses and the risk that the potential separation may be more difficult, time-consuming or costly than expected, including the impact on our resources, systems, procedures and controls, diversion of management’s attention and the impact on relationships with customers, governmental authorities, suppliers, employees and other business counterparties;
• unanticipated changes relating to competitive factors in our industry;
• our ability to timely deliver our backlog and its effect on our future sales, profitability, and our relationships with our customers;
• our ability to hire and retain key personnel;
• U.S. and international laws and regulations, including existing or future environmental or trade/tariff regulations, that may increase our costs, limit the demand for our products and services or restrict our operations;
• disruptions in the political, regulatory, economic and social conditions of the countries in which we conduct business; and
• downgrade in the ratings of our debt could restrict our ability to access the debt capital markets.

We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

Disclaimers

This press release is intended for informational purposes only for the shareholders of TechnipFMC, the majority of whom reside in the United States, the United Kingdom and Europe. This press release does not constitute a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017 (the “Prospectus Regulation”), and Technip Energies’ shares will be distributed in circumstances that do not constitute “an offer to the public” within the meaning of the Prospectus Regulation. This press release is not intended for distribution in jurisdictions that require prior regulatory review and authorization to distribute a press release of this nature.

Investor relations

Matt Seinsheimer
Vice President Investor Relations
Tel: +1 281 260 3665
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Phillip Lindsay
Director Investor Relations (Europe)
Tel: +44 (0) 20 3429 3929
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Media relations

Christophe Bélorgeot
Senior Vice President Corporate Engagement
Tel: +33 1 47 78 39 92
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Brooke Robertson
Public Relations Director
Tel: +1 281 591 4108
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• CMA CGM confirms Virginia as the center of its U.S. operations
• ZEBOX, an international startup incubator and accelerator, will be established in Arlington, VA
• CMA CGM is committed to the U.S. economy with more than 12,000 employees nationwide

NORFOLK, Va.--(BUSINESS WIRE)--The CMA CGM Group, a world leader in shipping and logistics, today announced that it will grow its presence in Virginia, where its U.S. headquarters is located, and create more than 400 new jobs. The announcement was made today by Governor Ralph Northam and Ed Aldridge, President of CMA CGM America and APL North America.

This decision reaffirms the Group’s strong partnership with the Commonwealth of Virginia and its commitment to the U.S. economy.

CMA CGM chooses Virginia as the center of its U.S. operations

The Group will invest a projected $36 million to expand operations in Hampton Roads, reinforce its headquarters in Norfolk, and establish the American hub of ZEBOX in Arlington County, a startup incubator and accelerator initiated by Rodolphe Saadé, Chairman and CEO of the CMA CGM Group. Virginia was selected following a competitive site-selection search that included competing markets in other states.

ZEBOX, an innovation hub, to support startups in the development of new technologies

Together with key partners, ZEBOX will assist innovative startups in developing new technologies in transportation, logistics, mobilities and industry 4.0. ZEBOX will become an essential place where entrepreneurs from all over the world meet and work on building tomorrow’s innovations.

CMA CGM more than ever committed to the U.S. economy

The Group began its U.S. operations in 1997 and decided to open its U.S. headquarters in Norfolk in 2005. Today, CMA CGM continues to show its commitment to the U.S. economy and its American customers with:

• More than 12,000 staff members across the United States
• 19 U.S. ports served
• 34 services between the United States and the rest of the world
• 93 weekly port calls
• CEVA Logistics, a world reference in third-party logistics, which provides and operates transportation and supply-chain solutions for large or medium size national and multinational companies. CEVA Logistics offers a broad range of services in both Contract Logistics and Freight Management. Operating from over 117 locations in the U.S., CEVA Logistics’ experienced specialists focus on seamlessly designing end-to-end customized solutions to meet the complex and rapidly evolving supply chain needs whatever the business sector.
• Its subsidiary American President Lines, LLC (APL) has been a trusted partner to the U.S. government for ocean transportation and in-country logistics since WWI. APL provides container transportation and offers secure and efficient services to key foreign military locations including five weekly U.S. flag services linking North America to Asia and Europe.

Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said: “Today’s announcement marks the opening of a new chapter in the long-lasting history of the CMA CGM Group with the United States and Virginia. The strong, trustful ties that bind us to the Commonwealth of Virginia will be further reinforced with the creation of more than 400 new jobs and strategic investments. Such a partnership is a great opportunity for our Group and our American customers. Furthermore, given the success of our startup incubator and accelerator ZEBOX in France, we’re thrilled to launch ZEBOX America in Arlington County. This is an exciting challenge to enable the development of innovative, game-changing projects and technologies.”

Virginia Governor Ralph Northam said: “This project is a tremendous victory for Virginia that will add significant momentum to our economic recovery as we emerge from this pandemic. Hampton Roads has a well-deserved reputation as a maritime services hub and our renowned tech workforce in Northern Virginia continues to attract leading companies. Securing CMA CGM’s expansion sends a powerful message that the Port of Virginia stands among the world’s greatest and our Commonwealth is prepared to keep adapting to the demands of our global economy.”

Ed Aldridge, President of CMA CGM America and APL North America, said, “The CMA CGM Group is pleased to choose the Commonwealth of Virginia to expand our operations and create 400 jobs. Committed to the U.S. economy, we have a long history in Virginia that began in 2002 when we opened our first office in Virginia Beach. We later increased our presence and moved into our Norfolk headquarters in 2005. We are very pleased to expand our roots again and continue working with the Port of Virginia. Together we provide great maritime services to customers both in Virginia and around the world in addition to offering reliable inland transport to America’s heartland utilizing the port’s excellent rail network.”

Media assets can be accessed at the link.

About CMA CGM

Led by Rodolphe Saadé, the CMA CGM Group is a world leader in shipping and logistics.

Its 538 vessels serve more than 420 ports around the world on five continents. In 2019, they transported nearly 22 million TEU (twenty-foot equivalent units) containers. With CEVA Logistics, a world leader in logistics services, CMA CGM handles more than 500,000 tons of airfreight and 1.9 million tons of inland freight every year.

CMA CGM is constantly innovating to offer customers new maritime, inland and logistics solutions.

Present on every continent and in 160 countries, through its network of 755 offices and 750 warehouses, the Group employs more than 110,000 people worldwide, of which 2,400 are in Marseille where its head office is located.

Follow the CMA CGM Group on:

https://twitter.com/cmacgm
https://www.linkedin.com/company/cma-cgm
https://www.facebook.com/cmacgm
http://instagram.com/cmacgm/
https://www.youtube.com/channel/UCAMAVVaqikbzeE3znzw6lVQ
www.cmacgm-group.com
www.apl.com
www.cevalogistics.com

CMA CGM
Amber Leonard
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Office of the Governor
Alena Yarmosky
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Virginia Economic Development Partnership
Suzanne Clark
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LONDON & SINGAPORE--(BUSINESS WIRE)--Bboxx, a next generation utility, is partnering with Trafigura, one of the world’s leading independent commodity trading companies, to accelerate progress on meeting United Nations Sustainable Development Goal 7 (UN SDG 7) – clean energy for all – in Africa.

Bboxx manufactures, distributes and finances decentralised solar powered systems in developing countries, operating across Africa and Asia, and in the ten years since Bboxx was founded, it has positively impacted over one million people through clean energy. Trafigura’s minority equity investment comes as Bboxx embarks on the next phase of its growth and accelerates its clean cooking commitments – a key part of tackling energy poverty and meeting UN SDG 7.

Inaction on the clean cooking crisis is costing the world over $2.4 trillion each year*. The use of charcoal and wood result in significant emissions of greenhouse gases and black soot, as well as deforestation. The lack of modern cooking solutions also has negative health and gender equality consequences, and results in lost economic opportunities. Access to modern clean cooking services using Liquefied Petroleum Gas (LPG) is significantly cleaner and a vital step in the energy transition to low and zero-carbon sources.

This landmark agreement brings together complementary expertise to fast-track progress on clean cooking access in Africa. Bboxx’s innovative Internet of Things (IoT) technology and experience from its established Pay-As-You-Go (PAYG) Solar Home Systems business, are all needed to deliver clean cooking in a scalable and distributed model. Bboxx has been applying this expertise to PAYG LPG clean cooking through pilots in the Democratic Republic of Congo (DRC), Rwanda and Kenya. It has been ramping up efforts in the DRC after receiving funding from USAID to roll out a PAYG LPG clean cooking access programme.

As a global leader in LPG, Trafigura will play a major role in the future supply growth of LPG across Africa. Trafigura has recently set targets to reduce its operational greenhouse gas emissions and is committed to accelerating the energy transition through its Power and Renewables division, which is investing in renewable energy projects and building a portfolio of investments in innovative renewable technology firms.

Mansoor Hamayun, CEO and Co-Founder of Bboxx commented: “We are committed to tackling energy poverty in all its forms – and it is unacceptable that in 2021 billions of people still live without access to clean cooking facilities. The world is still a long way off meeting UN SDG 7 – clean energy for all – and by forging partnerships and working with major global firms like Trafigura, we can turbocharge progress to unlock potential and transform even more lives for the better.”

James Josling, Head of Africa Energy Trading for Trafigura said: “Trafigura’s investment in Bboxx forms part of our strategy to continue to develop markets for LPG as a lower carbon fuel for clean cooking. Bboxx’s innovative business models and proven expertise in providing renewable energy services make it an ideal company to collaborate with and an attractive investment for Trafigura.”

ENDS

Notes to editors

Source:

* World Bank, Nearly Half the World’s Population Still Lacks Access to Modern Energy Cooking Services, 24 September 2020

About Bboxx

Bboxx is a next generation utility, transforming lives and unlocking potential through access to energy. Bboxx manufactures, distributes and finances decentralised solar powered systems in developing countries. It is scaling through forging strategic partnerships and its innovative technology Bboxx Pulse®, a comprehensive management platform using IoT technology. Through affordable, reliable, and clean utility provision, Bboxx is bringing people into the digital economy, creating new markets, and enabling economic development in off-grid communities and those living without a reliable grid connection. The company is positively impacting the lives of more than one million people with its products and services in over 35 markets, directly contributing to 11 of the 17 United Nations Sustainable Development Goals.

So far, Bboxx has deployed more than 350,000 solar home systems. Bboxx has over 800 staff across nine offices including in the Democratic Republic of Congo, Kenya, Rwanda, and Togo, with its head office in the UK and its manufacturing operations in China. In 2019, Bboxx was the winner of the Zayed Sustainability Prize in the Energy category – testament to the way the company is making a meaningful difference to people’s lives around the world. You can find further information about Bboxx on its website at – https://www.bboxx.com/

About Trafigura

Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world and has recently established a power and renewables trading division.

The trading business is supported by industrial and financial assets, including a majority ownership of global zinc and lead producer Nyrstar which has mining, smelting and other operations located in Europe, Americas and Australia; a significant shareholding in global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; and Galena Asset Management. With circa 850 shareholders, Trafigura is owned by its employees.

Over 8,500 employees work in 48 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD147 billion in 2020. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. Visit: https://www.trafigura.com

For more information please contact:
Bboxx
Instinctif Partners
Amy Boekstein
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Phone: +44 (0) 7457 2064

Trafigura
Press Office
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Phone: +41 (0) 22 592 4528

TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) (“the “Partnership” or “NGL”) closed on $2.05 billion of newly issued 7.5% senior secured notes due 2026 (the ”2026 Secured Notes”) and a new $500 million asset-based revolving credit facility (the “ABL Facility”) which also matures in 2026. The proceeds from the 2026 Secured Notes and borrowings under the ABL Facility will be used to repay all outstanding amounts under the Partnership’s existing $1.915 billion revolving credit facility and repay its $250 million term credit facility, along with all fees and expenses associated with any of these repayments and the issuance of the 2026 Secured Notes and the ABL Facility. The Partnership currently has approximately $340 million in availability under the ABL Facility, net of all currently outstanding borrowings and letters of credit.

In connection with the refinancing, the Partnership agreed to certain restricted payment provisions under the 2026 Notes and the ABL Facility. One of these provisions requires NGL to temporarily suspend the quarterly common unit distribution beginning with respect to the quarter ended December 31, 2020, as well as distributions on all of the Partnership’s preferred units, until the total leverage ratio falls below 4.75x. The cash savings from this suspension should accelerate the deleveraging of the Partnership’s balance sheet and increase NGL’s liquidity, thereby creating more financial flexibility for the Partnership going forward.

“This refinancing of our credit facility meaningfully extends our debt maturities and provides a significant improvement in our liquidity,” stated Mike Krimbill, NGL’s CEO. “This structure also gives the Partnership additional flexibility once our leverage has been reduced and eliminates certain financial covenants. Our Board of Directors expects to evaluate a reinstatement of the common and preferred distributions in due course, taking into account a number of important factors, including our debt leverage, our liquidity, the sustainability of our cash flows, upcoming debt maturities, capital expenditures and the overall performance of our businesses.”

JP Morgan Chase Bank, N.A. is an Issuing Lender, Joint Lead Arranger, Joint Bookrunner and the Collateral and Administrative Agent for the ABL Facility. Royal Bank of Canada and Barclays Bank PLC are also Joint Lead Arrangers, Joint Bookrunners and Lenders for the ABL Facility. The Toronto-Dominion Bank, New York Branch, and Wells Fargo Bank, National Association are Issuing Lenders under the ABL Facility. Paul Hastings LLP was legal advisor to the Partnership and Simpson Thacher & Bartlett LLP was counsel to the bank group. Intrepid Partners, LLC served as an advisor to the Partnership.

The offer and sale of the 2026 Secured Notes have not been registered under the Securities Act or any state securities laws an may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the 2026 Secured Notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

Forward Looking Statements

This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. While NGL believes such forward-looking statements are reasonable, NGL cannot assure they will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings with the Securities and Exchange Commission. Other factors that could impact any forward-looking statements are those risks described in NGL’s annual report on Form 10-K, quarterly reports on Form 10-Q, and other public filings. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” NGL undertakes no obligation to publicly update or revise any forward-looking statements except as required by law.

About NGL Energy Partners LP

NGL Energy Partners LP, a Delaware limited partnership, is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.

This release is a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% of NGL Energy Partner LP’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

NGL Energy Partners LP

Trey Karlovich, 918.481.1119
Executive Vice President and Chief Financial Officer
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or
Linda Bridges, 918.481.1119
Senior Vice President – Finance and Treasurer
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DUBLIN--(BUSINESS WIRE)--The "Clear Brine Fluids Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The market for Clear Brine Fluids is expected to grow at a CAGR of more than 4% during the forecast period.

Companies Mentioned

• Cabot Corporation
• LANXESS
• Albemarle Corporation
• Egyptian Mud Engineering & Chemicals Company
• Schlumberger
• Tetra Technologies
• Halliburton
• Clements Fluids
• Israel Chemicals Limited

Key Market Trends

Increasing demand from the oil and gas industry

Clear brine fluids are salt-based solutions that find applications in extracting and drilling operations for the petroleum and gas sector. These fluids also aid in controlling high-temperature and high-pressure in the reservoir during conventional drilling processes and further reducing the damage and hazards. Proliferating the oil and gas sector along with increasing drilling of rigs for gas extraction will significantly contribute to the industry expansion during the forecast period.

• Depleting of easily available natural gas and crude oil sources is forcing energy companies to look for unconventional energy sources, accompanied by increasing adoption of efficient techniques like enhanced oil recovery will further boost the clear brine fluids markets. Industry players are developing energy products from unconventional resources including gas hydrates, coal bed methane, shale gas/oil, and tight gas sands. Clear brine fluids requirement for the exploration and extraction of such energy sources from the reserves will accentuate the volume.
• However, due to COVID-19, the number of oil rigs in operation has reduced in 2020. For example, according to Baker Hughes, the number of oil rigs have fallen from 2,073 in January 2020 to about 1,176 in May 2020. This is expected to negatively affect the clear brine fluids market in the current year.
• The raw materials including sodium, calcium, cesium, chlorine, potassium, and bromine are used in the manufacture of multiple types of clear brine fluids. Zinc/calcium bromide and potassium chloride products are estimated to have significant market share. Calcium bromide brine solutions are used for reducing formation damage due to clay swelling and dispersion. While Potassium chloride is used for stabilization of water-sensitive clays from the high pressure developed in the reservoirs.

Middle-East and Africa is expected to dominate the market

Middle East and Africa accounted for a significant share in the clear brine fluids market owing to region being largest producer of crude oil in the world from countries like Saudi Arabia, UAE, Iraq, and Iran. Moreover, Qatar is the fifth-largest gas producer in the world and holds the third largest gas reserves in the world (estimated at 16% of the global total). Nigeria, Angola, Kenya, and Mozambique are the key contributing nations to the African oil and gas sector. However, Africa has witnessed a downward trend in oil and gas industry with players shifting towards geologies offering promising returns with attractive fiscal terms. Until 2019, the oil and gas production was expected to grow significantly due to increasing energy import demand from the Asia-Pacific and Europe.

Key Topics Covered:

1 INTRODUCTION

1.1 Study Assumptions

1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Rising global hydrocarbon exploration & production

4.1.2 Increasing Enhanced Oil Recovery activities

4.2 Restraints

4.2.1 Fluctuations in crude oil prices

4.2.2 Impact of COVID-19 Outbreak

4.3 Industry Value-Chain Analysis

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 By product type

5.1.1 Calcium chloride

5.1.2 Sodium chloride

5.1.3 Zinc calcium bromides

5.1.4 Cesium Formate

5.1.5 Potassium chloride

5.1.6 Others

5.2 By Application

5.2.1 Oil and Gas Exploration

5.2.2 Enhanced Oil Recovery

5.3 Geography

5.3.1 Asia-Pacific

5.3.2 North America

5.3.3 Europe

5.3.4 South America

5.3.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Market Share/Ranking Analysis**

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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