Universal Hydrogen joins JetBlue Technology Ventures’ growing portfolio of sustainable travel startups as the subsidiary’s first foray into hydrogen power

SAN CARLOS, Calif.--(BUSINESS WIRE)--JetBlue Technology Ventures (JTV), the venture capital subsidiary of JetBlue Airways (Nasdaq: JBLU), today announced its investment in Universal Hydrogen, the company fueling carbon-free flight, as part of its $20.5M Series A funding round. The financing allows Universal Hydrogen to accelerate the development of its hydrogen logistics network and regional aircraft conversion kits, and bolsters its burgeoning commercial activities.

JTV’s primary goal is to better position JetBlue with startup-led innovation set to disrupt the travel industry, ultimately helping JetBlue chart a path toward net zero emissions. JTV supports JetBlue’s ambitious sustainability strategy and targets by investing in technology focusing on advanced methods of measuring and reducing emissions, improved environmental protections, and game-changing transportation. In 2020 JetBlue became the first U.S. airline to achieve carbon neutrality for all domestic flying, today primarily through carbon offsets while the industry builds up lower-carbon technologies to reduce direct emissions.

Universal Hydrogen is building a fuel distribution network that connects hydrogen production directly to the airplane using modular capsules that are transported using the existing freight network, avoiding the need for costly new pipelines, storage facilities, and fuel trucks. The company is also developing conversion kits to retrofit existing 40-60 passenger regional airplanes with a hydrogen fuel cell powertrain.

“Our investment in Universal Hydrogen is highly aligned with JetBlue’s environmental objectives, and this partnership allows the airline a seat at the table in the fast-developing hydrogen for aviation sector and provides valuable insight into the options, progress, and viability of hydrogen to help decarbonize aircraft operations,” said Jim Lockheed, Investment Principal at JTV.

Universal Hydrogen was founded in 2020 by aviation industry veterans Paul Eremenko, John-Paul Clarke, Jason Chua, and Jon Gordon. First commercial flights are planned no later than 2025, with operating costs equivalent to those of conventional hydrocarbon-burning airplanes and decreasing rapidly thereafter.

“We see the near-term decarbonization of regional aviation as a first step and catalyst, setting the whole industry on a path to meeting Paris Agreement emissions targets. Hydrogen is today the only viable fuel for getting to true zero emissions in commercial aviation, and our goal is to de-risk the decision for Airbus, Boeing, and COMAC to make their next new airplane in the 2030s a hydrogen-powered one,” said Paul Eremenko, Universal Hydrogen co-founder and CEO.

The financing was led by Playground Global, and other investors include Fortescue Future Industries, Coatue, Global Founders Capital, Plug Power, Airbus Ventures, Toyota AI Ventures, Sojitz Corporation, and Future Shape.

About JetBlue Technology Ventures

JetBlue Technology Ventures invests in and partners with early stage startups innovating in the travel, transportation, and hospitality industries. The company prioritizes investments that advance the seamless customer-centric journey; technology powered customer service; the future of operations and maintenance; distribution, loyalty, and revenue management; and evolving regional travel. Founded in 2016, JetBlue Technology Ventures is a wholly-owned subsidiary of JetBlue (NASDAQ: JBLU) and is located in Silicon Valley, California. For more information, visit www.JetBlueVentures.com.

About Universal Hydrogen

Universal Hydrogen is making hydrogen-powered commercial flight a near-term reality. The company takes a flexible, scalable, and capital-light approach to hydrogen logistics by transporting it in modular capsules over the existing freight network from green production sites to airports around the world. To accelerate market adoption, Universal Hydrogen is also developing a conversion kit to retrofit existing regional airplanes with a hydrogen-electric powertrain compatible with its modular capsule technology.

Media:
JetBlue Technology Ventures
Sarah Mattina
This email address is being protected from spambots. You need JavaScript enabled to view it.

JetBlue Corporate Communications
Tel: +1 718 709 3089
This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that the Board of Directors of its general partner declared a quarterly cash distribution of $0.1135 per unit for the first quarter of 2021 ($0.454 per unit on an annualized basis), representing an increase of $0.0025 per unit, or 2.25% over the distribution declared for the fourth quarter of 2020. The distribution is payable on May 14, 2021, to unitholders of record at the close of business on May 5, 2021.

In addition, the Partnership announced today that Management intends to recommend to the Board of Directors of its general partner to increase its quarterly cash distribution per unit by an additional $0.0025 per quarter for the second, third and fourth quarters in 2021.

First Quarter 2021 Earnings Release Date and Conference Call Information

The Partnership plans to report first quarter 2021 financial and operating results after market close on Wednesday May 5, 2021. The Partnership will host a conference call and webcast regarding first quarter 2021 results at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Thursday, May 6, 2021.

To listen live over the Internet, participants are advised to log on to the Partnership’s website at www.usdpartners.com and select the “Events & Presentations” sub-tab under the “Investors” tab. To join via telephone, participants may dial (877) 266-7551 domestically or +1 (339) 368-5209 internationally, conference ID 4593597. Participants are advised to dial in at least five minutes prior to the call.

An audio replay of the conference call will be available for thirty days by dialing (800) 585-8367 domestically or +1 (404) 537-3406 internationally, conference ID 4593597. In addition, a replay of the audio webcast will be available by accessing the Partnership's website after the call is concluded.

About USD Partners LP

USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC (“USDG”) to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies, refiners and marketers. The Partnership’s principal assets include a network of crude oil terminals that facilitate the transportation of heavy crude oil from Western Canada to key demand centers across North America. The Partnership’s operations include railcar loading and unloading, storage and blending in on-site tanks, inbound and outbound pipeline connectivity, truck transloading, as well as other related logistics services. In addition, the Partnership provides customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons and biofuels by rail.

USDG, which owns the general partner of USD Partners LP, is engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America. USDG solutions create flexible market access for customers in significant growth areas and key demand centers, including Western Canada, the U.S. Gulf Coast and Mexico. Among other projects, USDG, along with its partner Gibson Energy, Inc., is pursuing long-term solutions to transport heavier grades of crude oil produced in Western Canada through the construction of a Diluent Recovery Unit at the Hardisty terminal. USDG is also currently pursuing the development of a premier energy logistics terminal on the Houston Ship Channel with capacity for substantial tank storage, multiple docks (including barge and deepwater), inbound and outbound pipeline connectivity, as well as a rail terminal with unit train capabilities. For additional information, please visit texasdeepwater.com. Information on USDG’s website is not part of this press release.

Qualified Notice to Nominees

This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that we believe that 100 percent of the Partnership’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of the Partnership’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not the Partnership, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including statements with respect to the amount and timing of the Partnership’s first quarter 2021 cash distribution, the Partnership’s full-year 2021 cash distribution guidance and the business prospects of the Partnership and USDG. No distribution amount is finally determined until declared by the Board of Directors of the Partnership’s general partner. Words and phrases such as “plans,” “expects,” “will,” “pursuing,” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to the Partnership are based on management’s expectations, estimates and projections about the Partnership, its interests, USDG’s projects and the energy industry in general on the date this press release was issued. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. The current economic downturn and pandemic introduces unusual risks and an inability to predict all risks that may impact the Partnership’s business and outlook. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include those as set forth under the heading “Risk Factors” in the Partnership’s most recent Annual Report on Form 10-K and in its subsequent filings with the Securities and Exchange Commission. The Partnership is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Category: Earnings

Investor Relations Contacts:
Adam Altsuler, (281) 291-3995
Senior Vice President and Chief Financial Officer

Jennifer Waller, (832) 991-8383
Director, Financial Reporting and Investor Relations

Energy storage in the form of batteries or geothermal and hydrogen technology could greatly reduce the emissions of CO2 that cause climate change, says former EnviroSolar CEO Abe Issa

DALLAS--(BUSINESS WIRE)--Energy storage can reduce climate change by reducing waste. Scientists warn that it’s important to keep global warming below 2 degrees Celsius. Energy storage is one way to speed up the goal to reduce climate change before 2050. Therefore, innovations are needed to garner support and implement solutions, says Abe Issa, former CEO of EnviroSolar Power, a sustainability-based company.

EnviroSolar Power Praises Efficient Energy Storage Options that Reduce Emissions

Globally, companies and individuals can use energy storage to reduce emissions related to cooling and heating, says Abe Issa of EnviroSolar Power. Within each community, people can develop flexible energy sources by consuming locally sourced energy.

EnviroSolar plans to invest in energy storage that will bring opportunities for entrepreneurs and individuals wishing to work in the sustainability industry. These solutions might include anything from virtual power plants to charging stations.

Types of Energy Storage that EnviroSolar Believes Make Sense

Battery storage, geothermal storage, and hydrogen storage are three ways that energy can be stored for future use. However, the technology has not yet caught up to the concept.

Battery storage that provides high energy concentration at affordable rates could reduce the environmental impact of disposable batteries and other energy sources. These batteries could travel from the lab to store shelves in about 10 years. Abe Issa, the former CEO of EnviroSolar Power, says that this will be a great way for consumers to lower their carbon footprint simply by buying efficient batteries.

Geothermal storage tends to bring to mind Icelandic geysers harnessed by the locals for cheap power sources. However, geothermal energy provides a great way to reduce heating and cooling bills throughout the world. This technology uses energy from the center of the earth to preheat or precool air so that you are HVAC system doesn't have to work so hard. This reduces your energy bill and CO2 emissions that heat up the planet. EnviroSolar is excited about the prospect of storing solar energy underground.

The temperature underground remains constant year-round throughout most of the world. typically, underground temperatures are lower than summer surface temperatures and higher than winter surface temperatures. This temperature difference makes geothermal energy a potent resource to conserve energy, especially in moderate and northern climates.

Hydrogen energy storage has to battle the perception that hydrogen technology is dangerous. However, hydrogen is no more dangerous than the petroleum that fuels the world by burning up the atmosphere. Like any energy source, following standard safety protocols can prevent accidents and other risks.

Hydrogen hasn't been widely adopted despite the fact that it disperses rapidly when used as an energy source and it produces water vapor when burnt. Currently, scientists are struggling to find an emissions-free way to produce hydrogen as a truly clean energy source.

Abe Issa, the former EnviroSolar CEO, believes that these energy storage sources are a great investment for businesses who want to invest in the future of the planet and get in on the ground floor of these emerging technologies.

EnviroSolar Looks Forward to Cities that Widely Used Stored Energy

E-mobility vehicles and devices include electric cars, electric scooters, electric bikes, and similar items. EnviroSolar looks forward to the day when these machines run on hydrogen or efficiently stored electricity.

About EnviroSolar Power

EnviroSolar employs a network of partners who installed thousands of systems in 2018. Since its founding in 2016, the company has originated several thousand solar systems. EnviroSolar Power was founded on the principle of helping homeowners transform their homes into self-sustaining, solar energy machines. Not only do they strive to reduce the consumption of each home, but they also strive to give homeowner's a more valuable way to pay for power. The company is the first nationwide solar developer that has integrated a smart home offering at scale to its customers.

Margaret Vazquez / Media Relations
EnviroSolar
817-213-6041
This email address is being protected from spambots. You need JavaScript enabled to view it.
https://www.envirosolarpower.com

MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (“Northern” or the “Company”) announced today that it plans to issue its earnings release with respect to first quarter 2021 financial and operating results on Friday, May 7, 2021, before the market opens. Additionally, the Company will host a conference call on Friday, May 7, 2021 at 10:00 a.m. Central Time.

Those wishing to listen to the conference call may do so via phone or the Company’s webcast.

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.

More information about Northern Oil and Gas, Inc. can be found at www.NorthernOil.com.

Mike Kelly, CFA
Chief Strategy Officer
(952) 476-9800
This email address is being protected from spambots. You need JavaScript enabled to view it.

Companies sign memorandum of understanding to increase public awareness, pursue joint research and development and explore a supply agreement

HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) and Southwest Airlines (NYSE: LUV) have signed a memorandum of understanding to advance the commercialization of sustainable aviation fuel, focusing on public awareness and research and development. The memorandum of understanding also sets the framework to explore a future supply agreement involving Phillips 66’s Rodeo Renewed project in California and highlights the commitment by both companies to a sustainable energy future.

Sustainable aviation fuel, or SAF, is a lower carbon-intensity fuel that can be produced from renewable feedstocks such as waste oils, fats, greases and vegetable oils. It is a drop-in fuel, meaning it can be used in existing aircraft engines and airport fuel infrastructure.

“Phillips 66 has a long history of driving innovation in the commercial and general aviation industry,” said Brian Mandell, Executive Vice President of Marketing and Commercial for Phillips 66. “We are excited to work with Southwest Airlines to find ways to help achieve its lower-carbon goals and to develop a path forward for sustainable aviation fuel that benefits all segments of the industry.”

Phillips 66 is a major U.S. refiner and supplier of jet fuel and aviation gasoline. The memorandum of understanding aims to leverage the company’s expertise in refining, distribution and technical commercialization of transportation fuels as well as its portfolio of renewable energy projects.

The latter includes Rodeo Renewed, the proposed conversion of the San Francisco Refinery in Contra Costa County, California, into one of the world’s largest renewable fuels facilities, capable of producing an initial 800 million gallons per year of renewable fuels. The project, subject to permits and approvals, is expected to be completed in early 2024.

“Southwest Airlines welcomes projects like Phillips 66’s proposed Rodeo refinery conversion to scale up the SAF industry, bringing lower-carbon SAF to market in meaningful quantities and thus helping Southwest meet our carbon-reduction goals,” said Stacy Malphurs, Southwest’s Vice President of Supply Chain Management & Environmental Sustainability. “Given Southwest’s extensive operations in the Bay Area and throughout California, we’re ideally positioned to benefit from any SAF production by Phillips 66 at Rodeo.”

Southwest is the largest carrier of air travelers to, from and within California. Its operations in the state include a major East Bay hub at Oakland International Airport. The carrier is a member of Airlines for America, the industry trade organization representing the leading U.S. airlines that last month announced the commitment of its member carriers to work to achieve carbon neutrality by 2050. The pledge includes efforts to advance the rapid expansion and deployment of SAF to make 2 billion gallons available to U.S. aircraft operators by 2030.

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,300 employees committed to safety and operating excellence. Phillips 66 had $55 billion of assets as of Dec. 31, 2020. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.

^{CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS
OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995}

^{This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Forward-looking statements may be identified by the use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “targets,” “estimates” or other words of similar meaning. Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized, and involve risks and uncertainties, many of which are beyond Phillips 66’s control, including but not limited to regulatory approvals and market conditions. A discussion of factors that may affect future results is included in Phillips 66’s filings with the Securities and Exchange Commission. Phillips 66 disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law.}

Jeff Dietert (investors)
832-765-2297
This email address is being protected from spambots. You need JavaScript enabled to view it.

Shannon Holy (investors)
832-765-2297
This email address is being protected from spambots. You need JavaScript enabled to view it.

Bernardo Fallas (media)
855-841-2368
This email address is being protected from spambots. You need JavaScript enabled to view it.

DALLAS--(BUSINESS WIRE)--The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.35 per unit for the first quarter of 2021. The distribution will be paid on May 13, 2021 to unitholders of record on May 3, 2021.

Holly Energy plans to announce results for its first quarter of 2021 on May 4, 2021 before the opening of trading on the NYSE. The Partnership has scheduled a webcast conference on May 4, 2021 at 4:00 p.m. Eastern time to discuss financial results.

The webcast may be accessed at:
https://event.on24.com/wcc/r/3079844/D06584BC4076CF9EE6D14C88ED60E588

About Holly Energy Partners, L.P.:

Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HollyFrontier Corporation subsidiaries. Holly Energy, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Texas, New Mexico, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming and Kansas as well as refinery processing units in Kansas and Utah.

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Please note that one hundred percent (100.0%) of Holly Energy’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, Holly Energy’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Forward-looking Statement:

The statements in this press release relating to matters that are not historical facts are “forward-looking statements” within the meaning of the federal securities laws, including statements regarding funding of capital expenditures and distributions, distributable cash flow coverage and leverage targets. These statements are based on our beliefs and assumptions and those of our general partner using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties. Although we and our general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither we nor our general partner can give assurance that our expectations will prove to be correct. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in these statements. Any differences could be caused by a number of factors including, but not limited to:

• the extraordinary market environment and effects of the COVID-19 pandemic, including the continuation of a material decline in demand for crude oil and refined petroleum products in markets we serve;
• risks and uncertainties with respect to the actual quantities of petroleum products and crude oil shipped on our pipelines and/or terminalled, stored and throughput in our terminals and refinery processing units;
• the economic viability of HollyFrontier Corporation, our other customers and our joint ventures' other customers, including any refusal or inability of our or our joint ventures' customers or counterparties to perform their obligations under their contracts;
• the demand for refined petroleum products in markets we serve;
• our ability to purchase and integrate future acquired operations;
• our ability to complete previously announced or contemplated acquisitions;
• the availability and cost of additional debt and equity financing;
• the possibility of temporary or permanent reductions in production or shutdowns at refineries utilizing our pipeline, terminal facilities and refinery processing units, due to reasons such as infection in the workforce, in response to reductions in demand or lower gross margins due to the economic impact of the COVID-19 pandemic, and any potential asset impairments resulting from such actions;
• the effects of current and future government regulations and policies, including the effects of current restrictions on various commercial and economic activities in response to the COVID-19 pandemic;
• delay by government authorities in issuing permits necessary for our business or our capital projects;
• our and our joint venture partners' ability to complete and maintain operational efficiency in carrying out routine operations and capital construction projects;
• the possibility of terrorist or cyber-attacks and the consequences of any such attacks;
• general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States; and
• the impact of recent or proposed changes in tax laws and regulations that affect master limited partnerships; and
• other financial, operations and legal risks and uncertainties detailed from time to time in our Securities and Exchange Commission filings.

The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Holly Energy Partners, L.P.
Craig Biery, 214-954-6511
Vice President, Investor Relations
or
Trey Schonter, 214-954-6511
Investor Relations

With products ranging from its AxFAST 3202 Portable Electric Vehicle Charger to its various docking stations requiring little power consumption, Accell remains committed to manufacturing high-quality, environmentally friendly solutions

FREMONT, Calif.--(BUSINESS WIRE)--#accellcables--Accell, a provider of innovative power products and enhanced connectivity solutions, celebrates this year’s Earth Day by highlighting several products from its Amazon storefront, including its AxFAST® 3202 Level 2 Portable Electric Vehicle Charger (EVSE), Universal Laptop Docking Station, the Accell Air™ USB-C 4K Driver-Less Dock, the Accell Driver-Less USB-C 4K Docking Station and the Accell Thunderbolt 3 Docking Station.

“Accell and BizLink have always been committed to manufacturing innovative products that not only meet the needs of customers, but reduce the carbon footprint by consuming less energy,” stated Tenny Sin, vice president of sales and marketing, Accell. “As we celebrate Earth Day, we encourage our customers to enjoy our products and to pursue actions that contribute to environmental change.”

Accell’s products are manufactured by the BizLink Group, who has collaborated with several world-famous companies regarding the control of dangerous matters related to environmental protection technology. BizLink established the BizLink Environment Technical Standards to abide by related laws and rules, including ROHS 2.0, in order to produce high-quality products. BizLink’s environmental protection policy honors stopping and preventing environment pollution, implementing the requirements of environmental protection laws, as well as remaining devoted to protecting the environment.

For more information about Accell’s selection of environmentally friendly products, please visit https://www.accellww.com.

About ACCELL Corporation

Built on a customer-centric and technologically advanced foundation, Accell is focused on providing user friendly designs, quality products and bringing value to its customers. The company’s product lines span various categories, including innovative IT products, Accell Power products, enhanced connectivity solutions, and the AxFAST EVSE Electric Vehicle Charger family of products. Partnering with our customers, Accell recently launched the USB-C to HDMI 2.0 Adapter that is CEC enabled for the Google Hangouts Meet Kit.

Based in the heart of Silicon Valley, with a large group of dedicated scientists, design engineers, and experienced sales and marketing professionals, as well as a dedicated US-based Support team, Accell is quickly becoming a world leader in delivering high-quality and affordable connectivity and power products. Sharing the same goals with our parent company BizLink, together we believe that in order to achieve sustainable development while growing our core business, we must also do right by the environment, and fulfill our corporate social responsibilities. BizLink has communicated its endeavors and achievements towards sustainability in the economy, the environment, and society through its CSR report since 2017 and has been awarded America’s Most Responsible Companies of 2021.

For more information, please visit https://www.accellww.com.

Press Contact:
Megan Saulsbury
Canyon PR
(408) 857-9527
This email address is being protected from spambots. You need JavaScript enabled to view it.

RICHMOND, Va.--(BUSINESS WIRE)--The Board of Directors of NewMarket Corporation (NYSE: NEU) declared a quarterly dividend in the amount of $1.90 per share on the common stock of the Corporation. The dividend is payable July 01, 2021 to NewMarket shareholders of record at the close of business on June 15, 2021.

NewMarket Corporation, through its subsidiaries Afton Chemical Corporation and Ethyl Corporation, develops, manufactures, blends, and delivers chemical additives that enhance the performance of petroleum products. From custom-formulated additive packages to market-general additives, the NewMarket family of companies provides the world with the technology to make engines run smoother, machines last longer, and fuels burn cleaner.

Some of the information contained in this press release constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although NewMarket’s management believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from expectations.

Factors that could cause actual results to differ materially from expectations include, but are not limited to, the availability of raw materials and distribution systems; disruptions at production facilities, including single-sourced facilities; hazards common to chemical businesses; the ability to respond effectively to technological changes in our industry; failure to protect our intellectual property rights; sudden or sharp raw material price increases; competition from other manufacturers; current and future governmental regulations; the gain or loss of significant customers; failure to attract and retain a highly-qualified workforce; an information technology system failure or security breach; the occurrence or threat of extraordinary events, including natural disasters, terrorist attacks, and health-related epidemics such as the COVID-19 pandemic; risks related to operating outside of the United States; political, economic, and regulatory factors concerning our products; the impact of substantial indebtedness on our operational and financial flexibility; the impact of fluctuations in foreign exchange rates; resolution of environmental liabilities or legal proceedings; limitation of our insurance coverage; our inability to realize expected benefits from investment in our infrastructure or from recent or future acquisitions, or our inability to successfully integrate recent or future acquisitions into our business; the underperformance of our pension assets resulting in additional cash contributions to our pension plans; and other factors detailed from time to time in the reports that NewMarket files with the Securities and Exchange Commission, including the risk factors in Item 1A. “Risk Factors” of our 2020 Annual Report on Form 10-K, which is available to shareholders upon request.

You should keep in mind that any forward-looking statement made by NewMarket in the foregoing discussion speaks only as of the date on which such forward-looking statement is made. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We have no duty to, and do not intend to, update or revise the forward-looking statements in this discussion after the date hereof, except as may be required by law. In light of these risks and uncertainties, you should keep in mind that the events described in any forward-looking statement made in this discussion, or elsewhere, might not occur.

Brian D. Paliotti
Investor Relations
Phone: 804.788.5555
Fax: 804.788.5688
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

SACRAMENTO, Calif.--(BUSINESS WIRE)--#PVinstall--The city in the first paragraph, first sentence should be Herald, CA (instead of Hemet, CA).

The updated release reads:

SOL COMPONENTS SERVES AS KEY SUPPLIER FOR 213MW PV PROJECT

SOL Components, a leading producer of cost-effective designs for solar module mounting systems, announced today the successful construction of its Ground Fixed Tilt (GFT) mounting system in support of a 213MWp (DC) solar PV project near Herald, CA. The project utilizes solar PV to replace electricity capacity previously provided by a nuclear power plant that ceased operation in 1989.

SOL Components’ roll-formed steel components support more than 500,000 solar panels at the site, which is one of the largest ground mounted fixed-tilt solar PV projects in the western United States. SOL Components was selected to support the project because of its expertise with utility-scale solar projects, and the benefits and advantages of their end-to-end PV structural systems. SOL Components’ light gauge roll-formed steel piles and racking components reduce overall steel weight while providing optimum structural integrity, which greatly reduced the developer’s racking costs. The site was developed on steep, undulating terrain necessitating a system with the flexibility to adapt to varying site constraints. SOL Components was able to deliver a racking system that not only easily adapted to variable slope, but also provided flexibility in dealing with unforeseen site challenges.

Mike Fraenkel, SOL Components President and General Manager stated: “SOL Components continues to grow rapidly and take market share in the utility-scale PV racking space, and this 213MW project is a perfect example where our cost-optimized GFT solution and superior support services enable success for our customers. Not every racking provider can meet the challenging terrain, tightly coordinated material delivery, and site support requirements this project required – it’s what we do best.”

About SOL Components

SOL Components was founded in 2015 with the purpose of simplifying solar mounting solutions and reducing the associated project costs and complexity. Leveraging over 40 years in steel manufacturing and an in-house engineering department that works directly with owners, designers, and contractors to facilitate efficient project execution, the SOL Components team has the experience to deliver the project on time and under budget. The mission of their team of highly motivated engineers and manufacturing experts is to develop and produce innovative products for the renewable energy, building and construction industries using roll formed light gauge steel.

Company:
Kris Jernstedt
SVP Commercial Operations
P: 925-980-1818
E: This email address is being protected from spambots. You need JavaScript enabled to view it.

Agency:
Jason Isberg
Managing Partner, Speedway Communications
P: 415-269-9784
E: This email address is being protected from spambots. You need JavaScript enabled to view it.

EAST AURORA, N.Y.--(BUSINESS WIRE)--Moog Inc. (NYSE: MOG.A and MOG.B) will release its second quarter fiscal 2021 earnings for the period ended April 3, 2021 on Friday, April 30, 2021. In conjunction with this release, Moog will host a conference call beginning at 10:00 a.m. ET, which will be simultaneously broadcast live over the Internet. John Scannell, Chairman and CEO, and Jennifer Walter, CFO, will host the call.

Listeners can access the conference call live or in replay mode on the Internet at http://www.moog.com/investors/communications/. Please allow 15 minutes prior to the call to visit the site to download and install any necessary audio software.

Supplemental data will be available on the website approximately 90 minutes prior to the call and will be archived for 45 days.

Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, wind energy, marine and medical equipment. Additional information about the Company can be found at www.moog.com.

Ann Marie Luhr
716-687-4225

OMAHA, Neb.--(BUSINESS WIRE)--At a ribbon cutting ceremony today, Valmont Industries, Inc., a leading global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture, celebrated the interconnection of its first one-megawatt solar field at its manufacturing facility in Valley, Nebraska.

“We are excited to improve our sustainability performance with the interconnection of this solar field, which is expected to produce 1.7 gigawatt hours of grid-independent power annually for our Valley facility,” said Stephen G. Kaniewski, President and Chief Executive Officer. “Using our own Valmont solar tracker technology, the field will provide the Valley campus with six percent of its electricity needs.”

The new solar array is the largest privately-owned, behind-the-grid solar field in Nebraska, spanning 4.3 acres. Forty-five tracker tables supplied by Convert, a Valmont company, make up the array, featuring advanced technology that adjusts the angle of solar panels to the ideal orientation for renewable energy generation. Created with weather and natural disaster mitigation in mind, the array’s transformers and inverters are raised seven feet above the ground to guard against flooding and include railing and access systems galvanized at the Valmont Coatings facility in Valley to ensure long-term structural resiliency.

Valmont’s employees and leadership team hosted the ribbon cutting event with local community leaders, business partners, Omaha Public Power District CFO Javier Fernandez, and representatives from Interconnection Systems Inc., who installed the array, attending as guests. Governor Pete Ricketts and Valley Mayor Cindy Grove were also present to give remarks celebrating the occasion.

“Valmont continues to grow the Good Life by investing in Nebraska,” said Governor Pete Ricketts. “The newly built solar field in Valley showcases Valmont’s innovation and contributes to the diverse energy resources we have in our state.”

Kaniewski continued, “We are proud to operate the largest solar field of this kind in the state of Nebraska, and commemorate this achievement safely with our community. Valmont has a 75-year history of conserving water, energy and raw materials and this latest achievement reinforces our commitment to innovating with sustainability in mind. Our goal is to conserve resources so that we can continue providing products and services that enhance the lives of customers, employees and communities locally and world-wide.”

About Valmont Industries, Inc.

Valmont^® is a global leader, designing and manufacturing engineered products and services that support global infrastructure development and agricultural productivity. Its products for infrastructure serve highway, transportation, wireless communication, electric transmission, and industrial construction and energy markets. Its irrigation equipment and services for large-scale agriculture improves farm productivity while conserving fresh water resources. In addition, Valmont provides coatings services that protect against corrosion and improve the service lives of steel and other metal products. For more information, visit valmont.com.

Jessica Valdez
+1.531.201.1544

Launched on Earth Day 2021 and Following a Live Stream with Elon Musk, XPRIZE Announces Plans to Combat Climate Change by Spurring Gigaton-Scale Carbon Removal Solutions

LOS ANGELES--(BUSINESS WIRE)--XPRIZE, the global leader in designing and implementing innovative competition models to solve the world’s grand challenges, today announced the official launch of $100 Million XPRIZE Carbon Removal with the opening of team registration and the release of the competition guidelines. The announcement comes shortly after Peter H. Diamandis, XPRIZE founder and executive chairman, and Elon Musk sat down for a live stream hosted on Twitter to discuss the importance of spurring carbon removal solutions, the climate crisis, and the launch of the largest incentive prize in history. The conversation was followed by a virtual question and answer hosted by Marcius Extavour, vice president of climate and environment at XPRIZE, and XPRIZE’s chief impact officer, Zenia Tata.

Funded by the Musk Foundation, $100M XPRIZE Carbon Removal is aimed at tackling climate change by asking global innovators to develop solutions that can pull carbon dioxide directly from the atmosphere or oceans and lock it away permanently in an environmentally benign method.

The climate math is becoming clear that we will need gigaton-scale carbon removal in the coming decades to avoid the worst effects of climate change. The International Panel on Climate Change (IPCC) estimates the need at approximately 10 gigatonnes per year of net CO2 removal by 2050. As governments, companies, investors, and entrepreneurs make plans to meet this challenge, it is clear that we will need a range of solutions to be proven through demonstration and deployment to complement work that is already underway.

This four-year global competition invites innovators and teams from anywhere on the planet to create and demonstrate solutions that can pull carbon dioxide directly from the atmosphere or oceans. To win the grand prize, teams must demonstrate a working solution at a scale of at least 1000 tonnes removed per year; model their costs at a scale of 1 million tonnes per year; and show a pathway to achieving a scale of gigatonnes per year in future. All demonstrations must be validated by a third party. In the first of two competition phases, teams must demonstrate the key component of their carbon removal solutions at smaller scale, not the full operating solution. Fully operational solutions are required to win. Any carbon negative solution is eligible: nature-based, direct air capture, oceans, mineralization, or anything else that achieves net negative emissions, sequesters CO2 durably, and shows a sustainable path to ultimately achieving gigatonne scale.

“The goal of this CO2 Removal XPRIZE is to turn ideas into demonstration, and turn powerpoint solutions into hardware,” said Peter H. Diamandis, founder and executive chairman of XPRIZE. “By launching the largest prize competition in history, our hope is to focus the brainpower of engineers, scientists and entrepreneurs around the world to build solutions that actually work, at low-cost and at massive scale. We know that our incentive prize competition models deliver huge philanthropic leverage. Typically driving 10x to 40x the prize purse spent by all the teams to achieve the goal. XPRIZE pays for demonstrated solutions versus ideas. So, we’re excited to see that same level of impact with this challenge. Many thanks to Elon Musk and the Musk Foundation.”

Throughout the competition, $100 million in prize purses will be distributed in the following manner:

Teams can enter the competition at any stage. XPRIZE is looking for the best solutions, whether they competed in earlier rounds or not. After 1 year of competition the judges will review the progress of competitors at that time and award up to 15 Milestone Prizes of $1 million each.

XPRIZE will also award up to US$5M to student teams in the Fall of 2021. These awards may fund participation in the XPRIZE Carbon Removal or the development of key supportive technologies.

In 2024, after developing their solutions, teams are invited to apply to be considered as Finalists, and be visited by XPRIZE to validate their solution’s performance in person. In 2025 after 4 years, judges will select the winners:

• US$50 million paid to the single Grand Prize Winner
• US$30 million to be distributed among up to 3 runners up

“It should be clear to everyone in 2021 that climate change poses an existential threat, and that our CO2 emissions are a leading cause,” said Marcius Extavour, vice president of climate and environment at XPRIZE. “Even as we race to get to net zero, the climate math tells us that we must also accelerate the development and deployment solutions that can be carbon negative. That’s what this prize is all about.”

‘’It’s not too late to create a better future, but doing that will take a group effort and companies facilitating the development of bold innovations. We’re looking forward to seeing what teams develop over the next four years and witnessing how their creations have a first hand impact on mitigating the climate crisis. Starting now.’’

For more information on XPRIZE Carbon Removal, to view the prize guidelines or to register, please visit xprize.org/carbonremoval.

About XPRIZE

XPRIZE, a 501(c)(3) nonprofit organization, is the global leader in designing and implementing innovative competition models to solve the world’s grandest challenges. Active competitions include the $20 Million NRG COSIA Carbon XPRIZE, the $10 Million Rainforest XPRIZE, the $10 Million ANA Avatar XPRIZE, the $5 Million IBM Watson AI XPRIZE, $5 Million XPRIZE Rapid Reskilling, $5 Million XPRIZE Rapid COVID Testing, and $500K Pandemic Response Challenge. For more information, visit xprize.org.

About The Musk Foundation

The Musk Foundation creates grants are made in support of: renewable energy research and advocacy; human space exploration research and advocacy; pediatric research; science and engineering education; and development of safe artificial intelligence to benefit humanity

Caden Kinard, XPRIZE
This email address is being protected from spambots. You need JavaScript enabled to view it.

WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA) today announced that it has completed the previously announced sale of its standalone restaurant business, which includes 42 locations primarily branded as “Quaker Steak & Lube” for aggregate proceeds of $5 million.

“This strategic divestment is a significant step in support of TA’s strategy to be a more focused leader in the travel center industry,” said Jon Pertchik, CEO of TA. “The sale of the standalone restaurant business, which did not strategically fit within our long-term goals for the company, will allow us to further concentrate our efforts on our core travel centers business and thoughtfully execute our transformation and growth initiatives.”

About TravelCenters of America Inc.:

TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its nearly 20,000 employees serve customers in over 270 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, convenience stores, truck maintenance and repair, full-service and quick-service restaurants, car and truck parking and other services and amenities dedicated to providing great experiences for professional drivers and the general motoring public. TravelCenters of America operates over 600 full-service and quick-service restaurants and 9 proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.

Warning Regarding Forward Looking Statements

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. For example, this press release states that the sale of the non-core business will allow the company to further focus on its core travel center business and pursue transformation and growth initiatives. Also, whenever TA uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, "will", “may” and negatives or derivatives of these or similar expressions, TA is making forward-looking statements. These forward-looking statements are based upon TA’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur or may not have the effects TA expects. Actual results may differ materially from those contained in or implied by TA’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including those set forth in TA’s filings with the Securities and Exchange Commission, some of which are beyond TA’s control.

Kristin Brown, Director, Investor Relations
(617) 796-8251
www.ta-petro.com

- Formation of Technip Energies on February 16, 2021

- Strong Q1 2021 performance with Adjusted Recurring EBIT Margin of 5.9%

- €6.5 billion orders, including major LNG award, drives Adjusted Backlog to €17.8 billion

- Solid balance sheet with €2.5 billion of Adjusted Net Cash

PARIS--(BUSINESS WIRE)--Regulatory News:

Technip Energies (Paris:TE) (ISIN:NL0014559478) (the “Company”), a leading Engineering & Technology company for the Energy Transition, today announces its first quarter unaudited 2021 financial results.

Arnaud Pieton, CEO of Technip Energies, on Q1 2021 results and outlook:

“The successful creation of Technip Energies took place on February 16, 2021. For the 15,000 people of our new company, this was a proud moment, which has further energized our workforce to deliver on our ambition – to be the reference investment platform for the Energy Transition.”

“With strong revenues and an improvement in EBIT margins year-over-year, our first quarter financial results are a true reflection of our operational excellence and financial stability against ongoing challenges in the global environment. We continue to safely and effectively deliver on our portfolio of projects with discipline and dedication for our customers.”

“During the quarter, we further positioned Technip Energies along the Energy Transition, most notably in sustainable chemistry, where we entered into multiple partnership agreements to advance our technology and commercial offering in circular economy.”

“We look to the remainder of 2021 with confidence to achieve our financial objectives; our revenue outlook is largely secured through scheduled backlog, and sound project execution should ensure we deliver profitability in line with guidance.”

“The industry continues to transition at an accelerated pace – this is both integrated within our strategy and reflected in significant growth in customer engagements. The decarbonization theme is now strongly influencing our traditional businesses, presenting us with greenfield and brownfield opportunities, and our Energy Transition pipeline continues to grow. With our unique capability set, disciplined commercial approach, and trusted execution, Technip Energies is set up to thrive in this environment.”

Key financials – Adjusted IFRS

Key financials - IFRS

Guidance – Adjusted IFRS

Company outlook and guidance is unchanged from guidance last published on February 26, 2021. The below table confirms the Company’s FY 2021 guidance:

Conference call information

Technip Energies will host its Q1 2021 results conference call and webcast on Thursday, April 22, 2021, at 13:00 CET. Dial-in details:

The event will be webcast simultaneously and can be accessed at: https://edge.media-server.com/mmc/p/y6js8by6

About Technip Energies

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

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

Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts (“ADR”) program, with its ADRs trading over-the-counter.

Operational and financial review
Backlog, Order Intake and Backlog Scheduling

Adjusted order intake for Q1 2021 of €6,470.7 million, equating to a book-to-bill of 4.2, was largely driven by the major award for the Qatar North Field Expansion Project, as well as the Barauni Refinery upgrade in India. Trailing 12-months book-to-bill was 1.7.

Adjusted backlog increased 25% year-on-year to €17,805.3 million, equivalent to 3x 2020 Adjusted Revenue.

The table below provides estimated backlog scheduling as of March 31, 2021.

Company Financial Performance
Adjusted Statement of Income

Business highlights
Projects Delivery – Adjusted IFRS

Q1 2021 Adjusted Revenue decreased marginally year-on-year by 1% to €1,252.5 million. The continued ramp-up of Arctic LNG 2 and growth in downstream projects in the Middle East and India were offset by lower activity on offshore projects. In addition, there was limited impact on revenues in the quarter from major project awards received in Q4 2020 and Q1 2021.

Q1 2021 Adjusted Recurring EBIT decreased year-on-year by 25% to €75.9 million. Adjusted Recurring EBIT margin declined by 190 basis points to 6.1% primarily due to mix and lower margin recognition on projects in an earlier phase of completion, while the comparable period in Q1 2020 benefited from projects in close out phases, including ADNOC’s Umm Lulu project and Equinor Aasta Hansteen. This was partially offset by a reduction of indirect costs.

Q1 2021 Key operational highlights

Arctic LNG 2 project (Russian Federation)

• Module construction for train 1 reached 50% completion; on track for module sail away to Russia in 2021.

Bapco Refinery expansion (Bahrain)

• Completion of heavy lifts in all areas of the refinery. ​

Energean Power gas FPSO (offshore Israel)

• Successful completion of last heavy lift campaign in Singapore.

Eni Coral Sul FLNG (Mozambique)

• After completion of the installation of the 3 Turret Mooring Systems modules and the first gas turbine generator, the Consortium is progressing with the commissioning of instrument rooms and work on the utilities systems.

ENOC Jebel Ali (U.A.E)

• Commercial completion certificate received on project that was awarded the MEED “Oil & Gas project of the year” in 2020 for successful project execution.

BP Tortue gas FPSO (Senegal / Mauritania)

• Successful launch of the hull and installation of the Living Quarters.

SOCAR Azerikimya petrochemical plant (Azerbaijan)

• Successful completion of performance test with plant meeting ethylene and propylene production capacity and quality specifications.

Q1 2021 Key commercial highlights

Qatar Petroleum North Field East Project (Qatar)

• Major* Engineering, Procurement, Construction and Commissioning contract awarded to CTJV, a joint venture between Chiyoda Corporation and Technip Energies, by Qatar Petroleum for the onshore facilities of the North Field East Project.
• Award will cover the delivery of 4 mega trains, each with a capacity of 8 million tons per annum of LNG, and associated utility facilities. It will include a large carbon capture and sequestration facility, leading to a more than 25% reduction of greenhouse gas emissions when compared to similar LNG facilities.

*A “major” award for Technip Energies is a contract representing more than €1 billion of revenue.

Barauni Refinery upgrade (India)

• Significant* Engineering, Procurement, Construction and Commissioning contract by Indian Oil Corporation Limited for its BR9 Expansion Project in Barauni, Bihar, in the Eastern part of India.
• The project will enable production of BS VI Grade fuels – similar to Euro VI Grade fuels – and petrochemicals.

*A “significant” award for Technip Energies is a contract representing between €50 million and €250 million of revenue.

Technology, Products & Services (TPS) – Adjusted IFRS

Q1 2021 Adjusted Revenue increased year-on-year by 9% to €305.0 million, buoyed by growth in services, notably Project Management Consultancy (PMC), and benefiting from strong order intake for Loading Systems during 2020.

Q1 2021 Adjusted Recurring EBIT increased year-on-year by 132% to €25.8 million. Adjusted Recurring EBIT margin increased year-on-year by 450 basis points benefiting from higher revenues with both Loading Systems and PMC activity showing significant improvement year-on-year.

Q1 2021 Key operational highlights

Neste Singapore Expansion Project (Singapore)

• Completion of all heavy lift activities.

Hengli liquid ethylene cracker (China)

• Successful completion of final performance acceptance test.

Hong Kong LNG (China)

• Successful yard tests completed for 8 LNG Marine Loading Arms and 4 High Pressure Natural Gas arms.

Q1 2021 Key commercial highlights

Project Management Consultancy services (Middle East)

• Letter of Award for a multi-year contract covering Consultancy services and Project Engineering and Management services for various projects.
• The contract is call-off in nature and therefore does not contribute to Q1 2021 order intake.

Tianjin Nangang LNG Emergency Storage Project (China)

• Notification of Award from Beijing Gas Group Co., Ltd for the supply of 5 LNG marine loading arms.

Strategic partnership with SYNOVA

• Using Technip Energies' leading purification technologies and SYNOVA’s advanced plastic waste-to-olefins technology, the partnership aims to commercialize a complete solution for plastic waste back to plastic via a steam cracker.
• The process will have a low carbon footprint and displaces the need for virgin polymers, in addition to reducing the need for intensive plastic waste sorting.

Strategic partnership with RECENSO

• Agreement focuses on sustainable plastics-to-plastics chemical recycling.

• It combines Technip Energies’ leading purification technologies with RECENSO’s proprietary CARBOLIQ technology to offer high-value solutions for generating liquid feedstock from plastic waste to be readily used in existing facilities to produce sustainable polymers.

Member of MIT’s Industrial Liaison Program

• Membership to the Industrial Liaison Program provides Technip Energies’ with access to MIT’s researchers, strengthening the Company’s innovation in the energy transition and digital area.

Corporate and Other items

Corporate costs in the first quarter, excluding non-recurring items, were €10.4 million. Non-recurring items amounted to €26.5 million, primarily relating to separation costs. Q1 2020 combined statement of income was also impacted by foreign exchange impact allocated to Technip Energies. Foreign exchange for Q1 2021 was a negative impact of €4.5 million.

Net financial income was €6.8 million, benefiting from cash on deposit and mark-to-market valuation of investments in traded securities.

Effective tax rate for the first quarter was 33.7%.

Depreciation and amortization expense was €26.7 million, of which €18.6 million is related to IFRS16.

Adjusted net cash at March 31, 2021 was €2.5 billion. This compares to Adjusted net cash at December 31, 2020, after the impact of the Separation and Distribution Agreement, of €2.2 billion.

Total invested equity at March 31, 2021 was €1.3 billion in Adjusted IFRS. This compares to total invested equity at December 31, 2020, after the impact of the Separation and Distribution Agreement, of €1.2 billion.

The Separation and Distribution Agreement was detailed in section 3, Balance Sheet information, of Technip Energies “Update on FY 2020 Financial Results” of the press release released on February 26, 2021.

Operating cash flow of €279.8 million, benefited from a solid operational performance and working capital inflows associated with customer advances and milestone payments on projects.

With limited capital expenditure of €8 million, free cash flow generation was €272 million.

Liquidity and credit rating information

Total liquidity of €3.9 billion at March 31, 2021 comprised of €3.2 billion of cash and €750 million of liquidity provided by the undrawn revolving credit facility, which is available for general use and serves as a backstop for the Company’s commercial paper program, offset by €98 million of outstanding commercial paper.

The bridge-to-bond under the Company’s bridge term facility was drawn for €620 million at the time of completion of the Spin-off from TechnipFMC. The Company intends to refinance it through a bond take out in the coming quarters.

Technip Energies has a BBB/A-2’ investment grade rating, as confirmed by S&P Global following the Spin-off from TechnipFMC.

Disclaimers

This Press Release is intended for informational purposes only for the shareholders of Technip Energies. This Press Release contains information within the meaning of Article 7(1) of the EU Market Abuse 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.

Forward-looking statements

This Press Release is intended for informational purposes only for the shareholders of Technip Energies. 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.

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.

All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.

For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

APPENDIX
Basis of preparation – Technip Energies Combined and Consolidated accounts

Consolidated financial statements for the period from January 1 to March 31, 2021 include comparative information (for the year 2020) extracted from Technip Energies’ Combined financial statements.

Information for these two periods constitute the Technip Energies Group’s Consolidated financial statements at March 31, 2021.

APPENDIX 1.0: ADJUSTED STATEMENTS OF INCOME

APPENDIX 1.1: STATEMENT OF INCOME – RECONCILIATION BETWEEN IFRS AND ADJUSTED

APPENDIX 1.2: STATEMENT OF INCOME – RECONCILIATION BETWEEN IFRS AND ADJUSTED

APPENDIX 2.0: ADJUSTED STATEMENTS OF FINANCIAL POSITION

Investor Relations
Phillip Lindsay
Vice President, Investor Relations
Tel: +44 20 3429 3929
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Relations
Stella Fumey
Director Press Relations & Digital Communications
Tel: +33 1 85 67 40 95
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

SAN FRANCISCO--(BUSINESS WIRE)--In honor of Earth Day, Williams-Sonoma, Inc. (NYSE: WSM), the world’s largest digital-first, design-led and sustainable home retailer, is proud to announce that it is setting a science-based target (SBT) for emissions reduction across its value chain by 2030, including the goal of carbon neutrality in the company’s own operations by 2025.

Williams-Sonoma is one of the first in its industry to work with the Science-Based Targets initiative to reduce its emissions in line with climate science. Aligned with the Paris Climate Agreement, the company has set a SBT that will help keep global warming below 2 degrees Celsius to avoid the worst effect of the climate crisis while establishing a pathway to net-zero emissions.

“We are thrilled to announce our new climate goals of carbon reduction across our supply chain. Williams-Sonoma, Inc. is Good By Design – striving for quality, safety, and sustainability throughout our business, and to improve our environmental performance every day. We understand these commitments play an important role in the sustainability of our planet and look forward to continuing our work to create a more sustainable future for generations to come,” said Laura Alber, President and Chief Executive Officer.

The company’s new climate goals include:

• A Science-Based Target for emissions reduction by 2030
  • 50% absolute reduction in Scope 1 & 2 Emissions
  • 14% absolute reduction in Scope 3 Emissions from materials, production, transportation, and product use
• Carbon Neutrality by 2025
  • 100% carbon neutral in Scope 1 & 2 Emissions

To arrive at these goals, Williams-Sonoma underwent an extensive, year-long data gathering and analysis project, using third-party experts and independent research alongside company data to measure the footprint across the company’s entire value chain.

To reduce Scope 1 and 2 emissions, the company will focus on efficiency, retrofitting its systems and upgrading to more energy-efficient equipment across its offices, stores, and distribution centers, to reduce the energy used to power its operations. Additionally, it will install solar where appropriate, purchase green power when possible and support new renewable energy projects through power purchase agreements (PPAs). To lower its Scope 3 emissions in its value chain, the company will develop a preferred materials strategy and switch to lower-impact options, like recycled polyester, as well as work with key suppliers to set reduction and renewable strategies and roadmaps. Williams-Sonoma will also increase more efficient delivery for direct-to-consumer sales, ensuring customers receive its product in the lowest-impact way.

For more information on the company’s carbon reduction commitments, please view our Science-Based Target Summary. Williams-Sonoma will continue to share its progress in its annual Corporate Responsibility scorecard, its sustainability website, and other public disclosures.

ABOUT WILLIAMS-SONOMA, INC.

Williams-Sonoma, Inc. is the world’s largest digital-first, design-led and sustainable home retailer. The company’s products, representing distinct merchandise strategies — Williams Sonoma, Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, West Elm, Williams Sonoma Home, Rejuvenation, and Mark and Graham — are marketed through e-commerce websites, direct-mail catalogs and retail stores. These brands are also part of The Key Rewards, our free-to-join loyalty program that offers members exclusive benefits across the Williams-Sonoma family of brands. We operate in the U.S., Puerto Rico, Canada, Australia and the United Kingdom, offer international shipping to customers worldwide, and have unaffiliated franchisees that operate stores in the Middle East, the Philippines, Mexico, South Korea and India, as well as e-commerce websites in certain locations. We are also proud to lead the industry with our ESG efforts. Our company is Good By Design — we’ve deeply engrained sustainability into our business. From our factories to your home, we’re united in a shared purpose to care for our people and our planet.

For more information on our ESG efforts, please visit: https://sustainability.williams-sonomainc.com/

Williams-Sonoma, Inc.
Elise Wang, Investor Relations and Corporate PR
(415) 616-8571
This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Hydrographic Survey Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Component; End User" report has been added to ResearchAndMarkets.com's offering.

Growing Offshore Projects to Support Hydrographic Survey Market Growth during 2020-2027

Hydrographic Survey Market was valued at US$ 97.19 million in 2019 and is projected to reach US$ 155.91 million by 2027; it is expected to grow at a CAGR of 6.2% from 2020 to 2027.

The global hydrographic survey market is segmented into five major regions - North America, Europe, APAC, MEA, and SAM. For oil & gas and marine projects, the hydrographic survey work is initiated by the oil & gas and marine firms, with the country's permission. Navy or national survey agency, which is responsible for the safety of navigation, also conduct hydrographic surveys.

North America led the hydrographic survey market in 2019 with a share of 36.9%, followed by Europe and APAC. The growing maritime and oil & gas industries, rising trend of digitalization, presence of multiple hydrographic survey software or service providers, and favorable government policies for developing oil & gas and marine industries are propelling the hydrographic survey market growth in North America.

In Europe, the marine industry plays an important role in the overall economy, in terms of revenue generation, job creation, and infrastructural development. European Commission continually monitors this industry and works toward the development of transport that favors the growth and competitiveness of the industry.

APAC is anticipated to register the highest CAGR in the hydrographic survey market during 2020-2027. The region comprises several developing economies such as China, India, and several southeast countries, which hold a high potential for the future growth of the hydrographic survey market. The growth in port and harbor management, exploration, and production activities, and rise in the development of offshore wind energy projects are propelling the growth of the hydrographic survey market in APAC.

Surge in deepwater operations in oil field development projects in Brazil, the Gulf of Mexico, and Africa, and other growing countries is anticipated to drive the demand for hydrographic survey software and services in the MEA and SAM during the forecast period.

Companies Mentioned

• BeamworX BV
• Eye4Software B.V.
• HYPACK / Xylem Inc.
• IIC Technologies
• Norcom Technology Limited
• Teledyne Marine (Teledyne Technologies Incorporated)
• Triton Imaging, Inc.
• OceanWise Limited
• Moga Software s.r.l.
• Quality Positioning Services B.V. (QPS)
• Esri

Key Market Dynamics

Market Drivers

• Rise in Number of Offshore Oil & Gas Projects
• Rise in Maritime Commerce and Transport

Market Restraints

• Lack of Awareness in Underdeveloped Countries

Market Opportunities

• Increasing Demand for Energy & Power Projects in Developing Countries

Future Trends

• Technological Advancements in Hydrographic Survey Software and Services

The global hydrographic survey market has been segmented as follows:

Hydrographic Survey Market - by Component

• Software
• Services

Hydrographic Survey Market - by End User

• Oil & Gas
• Marine

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

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

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

DALLAS--(BUSINESS WIRE)--Energy Transfer LP (“ET”) today announced the quarterly cash distribution of $0.4609375 per Series C Preferred Unit (NYSE: ETprC), the quarterly cash distribution of $0.4765625 per Series D Preferred Unit (NYSE: ETprD), and the quarterly cash distribution of $0.4750000 per Series E Preferred Unit (NYSE: ETprE). These cash distributions will be paid on May 17, 2021 to Series C, Series D and Series E unitholders of record as of the close of business on May 3, 2021.

The Series C, Series D and Series E preferred units were originally issued by Energy Transfer Operating, L.P. (“ETO”). On April 1, 2021, ETO merged into ET with ET surviving the merger. At the effective time of the merger, each issued and outstanding ETO preferred unit was converted into the right to receive one newly created ET preferred unit.

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

Forward Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

This release serves as qualified notice to nominees as provided for under Treasury Regulation section 1.1446-4(b)(4) and (d). Please note that 100 percent of Energy Transfer LP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Energy Transfer LP’s distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Energy Transfer LP, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

The information contained in this press release is available on our website at energytransfer.com.

Investor Relations:
Bill Baerg
Brent Ratliff
Lyndsay Hannah
214-981-0795

Media Relations:
Vicki Granado
214-840-5820

Merger of Fortistar Methane Group and TruStar Energy Creates a Fully-Integrated Market Leader to Provide Greater Infrastructure for the Decarbonization of the U.S. Transportation Industry

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--#GHG--Today, Fortistar LLC, a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges, announced that two of its portfolio companies, Fortistar Methane Group (FMG), one of the fastest-growing developers of renewable natural gas (RNG) facilities and one of the largest independently owned landfill-gas-to-energy companies in the U.S., and TruStar Energy, a market leader in RNG fuel supply for the transportation sector, are merging under Opal Fuels LLC to form a new, fully-integrated renewable fuels supply company for North America.

“In the nearly 30 years since founding Fortistar, I have never been more excited about the opportunities ahead,” said Mark Comora, president of Fortistar LLC. “Amid wildfires, heat waves, hurricanes and other extreme weather that punctuated a tumultuous 2020, the world is now more determined than ever to address climate change. Opal will lead the effort to decarbonize America’s transportation industry, which generates the largest share of annual greenhouse gas emissions, by supplying clean, sustainable energy fueled by renewable natural gas.”

The merger creates a complete, vertically-integrated business that handles every step from project development and construction to producing, marketing and dispensing renewable fuel and the associated renewable credits. With this merger, the combined company will maintain one of the largest portfolios of internally-produced RNG to ensure a stable renewable fuels supply for its customers. The combined business offers a natural platform for growth by converting its landfill gas electric projects to RNG facilities and new greenfield development of both animal waste digesters and new landfill projects, which will supply fueling stations including renewable hydrogen as an emerging fuel.

During 2020, TruStar completed 42 natural gas fueling station projects across the country, bringing its total completed projects to 380. TruStar has powered Class 8 fleets since 2009 and maintains a workforce of over 120 employees across the country. FMG is in the middle of a $500 million expansion program to complete construction on the fifth of 12 RNG projects that together will provide over 100 million gas gallon equivalents (GGE) annually of RNG. Together, the combined company will have a growing network of over 220 employees nationwide. With more than 140 fueling stations nationwide, the merger will make Opal a notable renewable fuels industry leader.

Adam Comora, former TruStar Energy president and CEO since 2013, and Jonathan Maurer, Fortistar managing director, will lead the company as co-CEOs. Prior to TruStar Energy, Adam Comora served as a managing director with Fortistar and spent 14 years at EnTrust Capital Inc, a New York-based investment management firm. Maurer has worked with Fortistar for over 30 years, executing the firm’s M&A and financing transactions and managing the production assets.

“Opal’s vertical integration creates a powerful platform to maximize the value and deliver with certainty the benefits of RNG for both production partners and end fleet customers alike,” said Adam Comora, co-CEO of the combined company. “This new venture creates enormous opportunities and scale to capture significant additional market share in this rapidly-developing industry as we continue to raise and deploy capital.”

Maurer, co-CEO of the new company said, “The combined company is positioned to be one of the fastest growing renewable fuels firms in the country. Our companies’ collective expertise and experience mean we have the capacity to take on newer, larger and more innovative projects and deals than ever before. We are enthusiastic to play an important role in decarbonizing our country’s transportation sector.”

About Fortistar:

Founded in 1993, Fortistar is a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges. Fortistar utilizes its capital, flexibility and operating expertise to grow high-performing companies, first in power generation and now in mobility, carbon capture, the circular economy and other solutions that drive our transition to a zero-carbon future. As a team, Fortistar has financed over $3.5 billion in capital for companies and projects in the energy, transportation and industrial sectors. For more information about Fortistar or its portfolio companies, please visit: www.Fortistar.com and follow the company on LinkedIn.

Media:
Caleigh Bourgeois
(513) 675-7466
This email address is being protected from spambots. You need JavaScript enabled to view it.

DALLAS--(BUSINESS WIRE)--Energy Transfer LP (NYSE: ET) today announced a quarterly cash distribution of $0.1525 per ET common unit ($0.61 on an annualized basis) for the first quarter ended March 31, 2021. The announced quarterly distribution is consistent with the distribution for the fourth quarter of 2020 and will be paid on May 19, 2021 to unitholders of record as of the close of business on May 11, 2021.

First Quarter 2021 Earnings Release and Conference Call

In addition, Energy Transfer plans to release earnings for the first quarter 2021 on Thursday, May 6, 2021, after the market closes. The company will conduct a conference call on Thursday, May 6, 2021 at 4:00 p.m. Central Time/5:00 p.m. Eastern Time to discuss quarterly results and provide a company update. The conference call will be broadcast live via an internet webcast, which can be accessed on Energy Transfer’s website at energytransfer.com. The call will also be available for replay on Energy Transfer’s website for a limited time.

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

Forward Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

This release serves as qualified notice to nominees as provided for under Treasury Regulation section 1.1446-4(b)(4) and (d). Please note that 100 percent of Energy Transfer LP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Energy Transfer LP’s distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Energy Transfer LP, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

The information contained in this press release is available on our website at energytransfer.com.

Investor Relations:
Bill Baerg
Brent Ratliff
Lyndsay Hannah
214-981-0795

Media Relations:
Vicki Granado
214-840-5820

$500 from each sale will be donated to the National Forest Foundation in honor of Earth Day 2021

SANTA CRUZ, Calif.--(BUSINESS WIRE)--Zero Motorcycles, the worldwide leader in electric motorcycles and powertrains, today launched a special, limited-edition DSR in celebration of its 15th anniversary. In commemoration of Earth Day, $500 from each special, limited-edition motorcycle sold will be given directly to the National Forest Foundation. The campaign is designed around Zero Motorcycle’s continued effort to help to preserve Earth’s natural treasures, and to encourage customers to spend more time outside.

As the pinnacle electric motorcycle build for dual-sport adventures, lack of noise and exhaust position the DSR as the perfect vehicle for riders to experience the world around them. The limited-edition DSR is available in five, nature-inspired colors.

“Zero was founded with a passion for off-road motorcycles that could be ridden in the Santa Cruz Mountains. It has been our mission to transform the riding experience with pure electric vehicles, and a passion for conservation is deeply rooted in our DNA,” said Sam Paschel, Zero Motorcycles CEO. “Our bikes are an incredible way to experience off-road riding, including in America’s National Forests, and we stand with the National Forest Foundation in their mission to guarantee access to those lands for future generations.”

The proceeds of the donations from these limited edition DSR units will be divided between National Forest Foundation projects that improve, restore, and make ecologically sustainable trail systems for Powersports enthusiasts across the country. These projects are aligned with Zero’s vision for increased access to America’s public lands for riders everywhere.

“We are excited and grateful to partner with Zero Motorcycles on projects to improve outdoor experiences and restore our National Forests. Our public lands are amazing places to explore and recreate and we appreciate a commitment to help us steward them from an innovative company like Zero,” Said Dayle Wallien, Conservation Partnerships Director for the National Forest Foundation.

The special edition DSR lineup will be available for order in limited quantities starting today, while supplies last, through all US Zero Motorcycle dealers. These 15^th Anniversary models are powered by the heralded Z-Force 75-7 motor capable of 116 ft-lb of torque, 70 hp, a top speed of 102 mph, and up to 163 miles of range per charge and sell for $15,495.

About Zero Motorcycles

Zero Motorcycles is the global leader in electric motorcycles and powertrains. Designed and crafted by hand in California, Zero Motorcycles combines Silicon Valley technology with traditional motorcycle soul to elevate the motorcycling experience for intelligent, innovative riders around the world.

About National Forest Foundation

The National Forest Foundation works on behalf of the American public to inspire personal and meaningful connections to our National Forests. By directly engaging Americans and leveraging private and public funding, the NFF leads forest conservation efforts and promotes responsible recreation. Each year the NFF restores fish and wildlife habitat, facilitates common ground, plants trees in areas affected by fires, insects and disease, and improves recreational opportunities. The NFF believes our National Forests and all they offer are an American treasure and are vital to the health of our communities. Learn more at nationalforests.org.

Natalie Kahn
This email address is being protected from spambots. You need JavaScript enabled to view it.
(858) 245-4238