HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today announced that it will issue its first quarter 2022 earnings release after market close on Wednesday, May 4, 2022. The Company will host a conference call to discuss financial and operational results on Thursday, May 5, 2022 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).
The call will be webcast on Cactus’ website at www.CactusWHD.com. Institutional investors and analysts may participate by dialing (866) 374-5140. International parties may dial (404) 400-0571. The access code is 45374631#. Please access the webcast or dial in for the call at least 10 minutes ahead of start time to ensure a proper connection.
An archived webcast of the conference call will be available on the Company’s website shortly after the end of the call.
About Cactus, Inc.
Cactus designs, manufactures, sells and rents a range of highly engineered wellhead and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus operates service centers in the United States, which are strategically located in the key oil and gas producing regions, including the Permian, Marcellus, Utica, Haynesville, Eagle Ford, Bakken and SCOOP/STACK, among other areas, and in Eastern Australia. Cactus also conducts rental and service operations in the Kingdom of Saudi Arabia.
Cactus, Inc.
John Fitzgerald, 713-904-4655
Director of Corporate Development and Investor Relations
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (the "Company") plans to announce its financial results for the first quarter 2022 prior to 8:00 A.M. Eastern Time on Thursday, May 5th, 2022. A copy of the press release and an earnings supplement will be posted to the Investors section of the Company's website, www.newfortressenergy.com.
In addition, management will host a conference call on Thursday, May 5th, 2022 at 8:00 A.M. Eastern Time. The conference call may be accessed by dialing (866) 953-0778 (from within the U.S.) or (630) 652-5853 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference “NFE First-Quarter 2022 Earnings Call."
A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.newfortressenergy.com. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast.
A replay of the conference call will be available after 11:00 A.M. Eastern Time on May 5th, 2022 through 11:00 A.M. Eastern Time on May 12th, 2022 at (855) 859-2056 (from within the U.S.) or (404) 537-3406 (from outside of the U.S.), Passcode: 4257013.
About New Fortress Energy Inc.
New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.
IR:
Brett Magill
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Media:
Jake Suski
(516) 268-7403
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HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (NYSE:OII) today announced that it has released its first Climate Change Report. The report aligns with the framework developed by the Task Force on Climate-related Financial Disclosures (“TCFD”) and includes analysis and progress updates across each of the four TCFD pillars: Governance, Strategy, Risk Management, and Metrics and Targets.
Roderick A. Larson, President and Chief Executive Officer of Oceaneering, stated, "We are pleased to issue our inaugural Climate Change Report. We recognize the risks posed by climate change and are actively working on our own initiatives and with our customers to mitigate the impacts of our operations on the environment. The TCFD framework gives us a widely accepted methodology that increases transparency in connection with our climate risk reporting and planning to limit the environmental impacts of our businesses and those of our customers. We have increased management engagement through our management-level Sustainability Committee, chaired by Holly Kriendler, our Chief Human Resources Officer, and Board oversight of sustainability issues and the strategies necessary to pivot portions of our business into less carbon intensive areas. We are also advancing an initiative in 2022 to baseline our Scope 1 and Scope 2 greenhouse gas, or GHG, emissions. This data will be used to develop ambition levels and action plans for short- and long-term emission reduction targets. We are committed to following and adapting to best practices to ensure our stakeholders have access to consistent and transparent climate change information."
Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries.
For more information on Oceaneering, please visit www.oceaneering.com.
Mark Peterson
Vice President, Corporate Development and Investor Relations
Oceaneering International, Inc.
713-329-4507
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NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (NASDAQ: CLNE) announced it continues to meet the growing demand for renewable natural gas (RNG), a sustainable transportation fuel made from organic waste, with new fueling contracts, infrastructure expansions, and RNG production projects.
“More fleets are finding RNG to be the most easy and cost-effective way to achieve significant carbon reductions,” said Chad Lindholm, Clean Energy’s senior vice president for sales. “As we continue to see growing demand for RNG, we’re working on the production side so that more customers can turn their sustainability goals into reality.”
LA County Metro has renewed its maintenance agreement with Clean Energy for six stations that will power 1,417 transit buses with an expected 137 million gallons of RNG for the length of the contract.
Estes Express Lines, the nation’s largest privately-owned freight transportation carrier, is deploying an additional 100 natural gas trucks that will fuel with an expected three million gallons of fuel in California and Texas.
The Los Angeles County Sanitation Districts has entered into a contract with Clean Energy to construct a new public access fueling station in Carson, CA. The contract also includes maintenance services, and a fueling agreement for RNG. When the station is complete it will power regional trucks, transit buses and refuse trucks with an anticipated 10 million gallons of RNG over the contract term.
Offering services that are a vital part of San Diego’s regional transportation network, North County Transit District (NCTD) has extended its RNG supply agreement with Clean Energy to operate its fleet of 143 buses with an expected 8.2 million gallons of RNG.
One of the most environmentally conscious cities in the country, Santa Monica, CA has extended its RNG fueling agreement with Clean Energy for an expected two million gallons of RNG to power 200 municipal buses.
The Morongo Basin Transit Authority (MBTA) in the Yucca Valley region of California has signed a RNG supply agreement for an anticipated 750,000 gallons of RNG to power 24 transit buses.
Gold Coast Transit District in Oxnard, CA has signed a maintenance contract for a station that fuels 54 transit buses with an estimated 725,000 gallons of RNG.
Custom Lumber Designs, a freight company in Corona, CA, has signed a fueling agreement for 240,000 gallons of RNG to power its heavy-duty trucks.
The City of Tempe in Arizona has extended its maintenance agreement with Clean Energy. The station fuels 250 transit buses with an expected 15 million gallons of compressed natural gas (CNG) fuel over the contract term.
MJ Transport Logistics, a trucking company in Falls Creek, PA, was awarded the new Centre County Recycling and Refuse Authority transfer hauling contract fueling approximately 1.6 million of CNG to power eight new natural gas trucks over the contract term.
Suburban Disposal, a refuse company in Spencerport, NY, has signed a maintenance contract with Clean Energy for an expected 700,000 gallons of fuel to power 37 refuse trucks.
Silvi Concrete, a ready mix company in Downingtown, PA, has signed a maintenance contract for a station that Clean Energy constructed five years ago. The station houses 20 natural gas trucks that fuel with an estimated 500,000 gallons of CNG.
Long time Clean Energy customer Saddle Creek Logistic Services in Lakeland, FL has signed a maintenance agreement with Clean Energy. The supply chain solutions company is adding 13 new natural gas trucks to its fleet that will fuel with an expected 350,000 gallons of CNG.
The Town of Oyster Bay, NY has signed a maintenance contract for its refuse fleet which fuels with an anticipated 100,000 gallons of CNG for 10 vehicles.
Stark Area Regional Transit Authority in Canton, OH has signed an agreement with Clean Energy for a significant station expansion project to accommodate additional CNG transit buses being added to its fleet.
In Canada, Hiller Truck Tech, a heavy-duty truck repair service, has signed a fueling agreement for an estimated 150,000 gallons of CNG to power 20 trucks.
RNG Supply Advances
Clean Energy continues to make significant investments in the production of additional RNG sources and has partnered with two of the most sustainability-committed global energy companies, TotalEnergies and bp, to sign partnerships with dairy owners around the country.
The first of these projects was Del Rio Dairy in Friona, TX, where in late 2021 Clean Energy broke ground on construction for a digester that is anticipated to turn the manure from 7,500 milking cows into more than a million gallons of RNG a year. The project continues to progress, and digester tanks have been erected on the property.
At Millenkamp Dairy in Idaho, engineering and procurement are being finalized, and construction of the front-end manure handling facility is underway.
Construction has started at dairy farms Marshall Ridge, Drumgoon and Victory, located in South Dakota and Iowa. With more than 30,000 cows, these dairies have the estimated potential to convert the methane produced from waste into more than seven million gallons of RNG annually.
Clean Energy has also started a digester project with South Fork Dairy in Hart County, TX. When complete, the project will produce an anticipated 2.9 million gallons of RNG.
Additionally, Clean Energy has acquired manure rights for its first swine project at the O’Bryan Grain Farms in Owenboro, KY.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @ce_renewables on Twitter.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including without limitation statements about amounts of RNG and CNG expected to be consumed, numbers of vehicles expected to be deployed or financed, the benefits of Clean Energy’s fuels, the timing and scope of construction, maintenance, and other projects, and the value and scope of contracts. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, Clean Energy undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
Clean Energy Contact:
Raleigh Gerber
949-437-1397
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MIDLAND, Texas--(BUSINESS WIRE)--On April 13, 2022, ProPetro Holding Corp. (“ProPetro” or the “Company”) (NYSE: PUMP) announced the extension of its existing asset-based loan facility (the “Amended ABL”) to a five-year term and a reduction of commitments from $300 million to $150 million. The Amended ABL will extend the maturity from 2023 to 2027 and, through updated advance formulas and other provisions, provide enhanced availability with improved pricing. No advances under the Amended ABL are currently outstanding.
David Schorlemer, the Company’s Chief Financial Officer, commented, “We are very pleased with the continued support from our financial partners with Barclays, along with other participants in the ABL, namely, JPMorgan Chase, Goldman Sachs, and, a new entrant to our facility, Bank of America. Extending the maturity to 2027 is comforting knowing that these bulge-bracket financial institutions are helping to support our efforts in providing reliable energy services to our industry. Reducing the commitments is also consistent with our passion for capital efficiency with the resources we employ. The reduced ongoing commitment fees and interest expense along with the improved availability are a win-win for ProPetro. We believe this facility, along with our working capital and cash flow from operations, will provide strong liquidity to support ProPetro into the future.”
About ProPetro
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information, please visit www.propetroservices.com.
Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding growing the business and performance at the wellsite. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual events and results to differ materially from the forward-looking statements. Such risks and uncertainties include the operational disruption and market volatility resulting from the COVID-19 pandemic and other factors are described in ProPetro’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, particularly the “Risk Factors” sections of such filings, and other filings with the Securities and Exchange Commission. In addition, ProPetro may be subject to currently unforeseen risks that may have a materially adverse impact on it. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release. ProPetro does not undertake, and expressly disclaims, any duty to publicly update these statements, whether as a result of new information, new developments or otherwise, except to the extent that disclosure is required by law.
Contact: ProPetro Holding Corp
David Schorlemer, 432-227-0864
Chief Financial Officer
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Contact: ProPetro Holding Corp
Josh Jones, 432-276-3389
Director of Finance
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LevelTen Energy’s newly released Power Purchase Agreement (PPA) Price Index reveals that North American P25* solar and wind PPA offer prices increased 9.7% to nearly $40 per MWh in the first quarter of 2022
SEATTLE--(BUSINESS WIRE)--According to a new report from LevelTen Energy, the leading provider of renewable transaction infrastructure and operator of the world’s largest PPA marketplace, North American renewable energy developers are struggling to build solar and wind projects fast enough to keep up with demand because of the extremely difficult development landscape. This is leading to a shortage of power purchase agreements for corporations and other large energy buyers, which are critical to bringing new clean energy projects online and meeting corporate and federal net zero targets. This rapidly growing imbalance between PPA supply and demand, combined with skyrocketing development costs, has raised PPA prices 9.7% during the first quarter of 2022 to nearly $40 per MWh, according to LevelTen’s Q1 PPA Price Index report. Year-over-year, this represents an astounding 28.5% increase.
Rising development costs and market uncertainty are driving prices up
Many developers rely on PPAs – long-term energy contracts – with corporations and other large-scale energy buyers in order to secure the financing required to construct new multi-million dollar solar and wind projects. But the cost models used to price PPAs are becoming increasingly unwieldy as regulatory, interconnection, and supply chain challenges make it difficult to pin down costs and construction timelines.
“Every aspect of project development has risks to evaluate and balance,” said Gia Clark, senior director of Developer Services at LevelTen Energy. “These days, these risks feel particularly high-stakes. Developers must factor these complexities and uncertainties into PPA offers to safeguard their project success, as well as their business’ long-term financial security. As long as these myriad headwinds persist, we can expect elevated PPA prices across North America.”
Supply chain issues have also taken a toll on developers in terms of rising costs and shipment delays. A LevelTen survey of 57 developers this quarter revealed that 40% said they were able to find new suppliers that can more reliably deliver components. However, 28% were unable to make changes to supply chain operations despite wanting to do so.
Regional and federal regulatory issues cause hurdles to development
Renewable energy project developers are also facing hurdles to development as a result of regional and federal regulatory activities that have generated uncertainty in places where PPAs are in high demand, including ERCOT and PJM.
Demand for renewables remains undeterred
Yet, for the moment, corporations and other large energy buyers aren’t deterred by rising PPA prices. Eager to meet their clean energy targets, energy buyers continue to pursue PPAs, which are delivering higher value as wholesale electricity prices also rise.
Natural gas prices, which have been driven up in part by the war in Ukraine, have also contributed to rising PPA prices. When gas prices increase, the value of locking in renewable energy at a specific price increases, driving more demand to the market.
“Even in these very challenging times, we are seeing buyers and developers take a partnership approach to get PPA deals done,” said Collier. “We and our network of energy advisors are working with buyers and developers on new approaches to PPA contracts that help both parties address the unprecedented market dynamics and successfully close the transaction.”
To download the free executive summary or purchase the full version of LevelTen Energy’s Q1 PPA Price Index, the industry’s only source of data from hundreds of real PPA price offers in North America and Europe, visit www.leveltenenergy.com/ppa.
*Prices cited represent an average of the 25th percentile of PPA prices of each ISO on LevelTen’s Energy Marketplace.
About LevelTen Energy
LevelTen Energy is the leading provider of renewable transaction infrastructure, delivering the cloud-based software, centralized supply, automated analytics, and expertise required to accelerate clean energy transactions. The LevelTen Platform is the world’s largest online hub for renewable energy buyers, sellers, advisors, asset owners and financiers. The Platform includes the LevelTen Energy Marketplace, which delivers access to more than 4,000 power purchase agreement price offers spanning 21 countries in North America and Europe. It also includes the LevelTen Asset Marketplace, which brings together over 470 renewable energy project developers and owners and delivers the online tools and expertise they need to buy, sell and finance assets quickly. Together, LevelTen and its partners share #OneGoal to accelerate the energy transition. Visit LevelTenEnergy.com to learn more.
Annika Hille
Walker Sands for LevelTen Energy
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PORTLAND, Ore.--(BUSINESS WIRE)--The Board of Directors of Northwest Natural Holding Company (NYSE: NWN) has declared a quarterly dividend of 48.25 cents per share on the Company's common stock.
The dividend will be paid on May 13, 2022 to shareholders of record on April 29, 2022. The Company's indicated annual dividend rate is $1.93 per share.
About NW Natural Holdings
Northwest Natural Holding Company (NYSE: NWN) (NW Natural Holdings) is headquartered in Portland, Oregon and has been doing business for more than 160 years. It owns Northwest Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), NW Natural Renewables Holdings (NW Natural Renewables), and other business interests.
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 785,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural owns and operates 21 Bcf of underground gas storage capacity in Oregon.
NW Natural Water currently provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. With all pending acquisitions closed, NW Natural Water will serve over 145,000 people through approximately 60,000 connections. Learn more about our water business at nwnaturalwater.com.
Additional information is available at nwnaturalholdings.com.
Investor Contact: Nikki Sparley
Phone: 503-721-2530
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VANCOUVER, British Columbia & LONDON--(BUSINESS WIRE)--$LPEN--Loop Energy™ (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell solutions, announces it has won the tender process to supply Tevva Motors Ltd. ("Tevva"), a British electric and hydrogen truck pioneer, with its T505 (50 kW) Series fuel cell system for Tevva's 7.5 tonne electric truck platform. The partnership grows Loop Energy's European customer base and provides the opportunity for its fuel cells to power numerous vehicles in the coming years.
Tevva's tender process began with a single unit order in Q4 2021 to evaluate and test the fuel cell system. Loop Energy's product outperformed multiple offerings from international fuel cell manufacturers. The evaluation process focused on fuel efficiency and reliability, and to ensure seamless integration with Tevva's Fuel Cell Range Extender for its 7.5t truck platform. The truck is designed to provide operators with up to 500 kilometres (310 miles) of all-season service range.
Following testing, Tevva selected Loop Energy as its supplier and placed initial orders for multiple units. It now enters the Scale-Up Phase of Loop Energy's Customer Adoption Cycle. The orders were included in the company's previously announced purchase orders for 2022. Both companies are now working towards finalizing a broader supply agreement.
"By combining Loop Energy's hydrogen fuel cell with our 7.5t battery electric truck platform, Tevva is taking an exciting step towards delivering our zero-emission range-extended trucks," said Tevva Founder & CEO, Asher Bennett. "Our customers are passionate about the cost, performance and emissions of their fleets, so we are highly selective about the energy systems in our trucks. We are delighted to find a technology partner in Loop Energy that can support our ambitious performance expectations and growth plans – that aim to remove 10 million tonnes of global transportation CO2 emissions by 2030."
"Our customers are at the heart of everything we do, so we are delighted to be selected to deliver products that meet Tevva's performance expectations," said Loop Energy President & CEO, Ben Nyland. "The order shows we have the technology and production capabilities to supply to OEMs who are dedicated to manufacturing the next generation of commercial vehicles as we move towards meeting zero-emissions requirements."
About Tevva Motors Ltd.
Tevva is a British electric and hydrogen truck pioneer. Tevva designs and manufactures zero-emission medium-duty trucks with a revolutionary combination of battery electric and hydrogen fuel-cell range extender technology. Tevva trucks are built to revitalize urban freight and logistics – optimising range, cost, driver experience, and environmental impact. Tevva trucks are already on the road and have accrued hundreds of thousands of miles in customer hands. For more information, please visit https://www.tevva.com.
About Loop Energy Inc.
Loop Energy is a leading designer and manufacturer of fuel cell systems targeted for the electrification of commercial vehicles, including light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop's products feature the company's proprietary eFlow™ technology in the fuel cell stack's bipolar plates. eFlow™ is designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.
Forward Looking Warning
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflect management's current expectations and projections regarding future events. Particularly, statements regarding the Company’s expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information, including without limitation the opportunity to power number fuel cell vehicles in the future, the ability of Tevva’s trucks to meet specified range targets, the expectation that we will finalize a broader supply agreement with Tevva, the expected delivery by Tevva zero-emission range-extended trucks to the market, the ability of our engines to meet and exceed customer performance expectations and the expectation that Tevva’s performance and growth plans will remove 10 million tonnes of global transportation CO2 emissions by 2030.
Forward-looking information is based on a number of assumptions (including without limitation assumptions with respect the current and future performance of, and growth in demand for, our products and Tevva’s products) and is subject to a number of risks and uncertainties, many of which are beyond the Company's control and could cause actual results and events to vary materially from those that are disclosed, or implied, by such forward-looking information. Such risks and uncertainties include, but are not limited to, our ability and the ability of Tevva to execute on our respective strategies and growth plans, the realization of electrification of transportation, the elimination of diesel fuel and ongoing government support of such developments, the expected growth in demand for fuel cells for the commercial transportation market and the factors discussed under "Risk Factors" in the Company's Annual Information Form dated March 23, 2022. Loop disclaims any obligation to update these forward-looking statements.
Investor Inquiries:
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DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced it has been awarded a contract to provide control valves for a portion of Norway’s first cross-border and open-source carbon capture and storage facility. With an estimated 2024 completion, this facility will be the first of its kind and will help further enable the acceleration of decarbonization in Europe.
Flowserve will provide its Flowtop and Mark One control valves for the facility’s onshore site in the Bergen region, which will facilitate carbon capture before it is ultimately transported to an offshore terminal and stored permanently below the seabed. Once completed, the facility will have the ability to potentially store an estimated equivalent of 1,000 years of Norwegian emissions.
Globally, there is a growing need to limit – or even reduce – the world’s carbon emissions. “We recognize that governments and corporations around the world are increasingly focused on efforts to minimize climate change and are making investments to reduce their greenhouse gas emissions. Flowserve is uniquely positioned to capitalize on the flow control aspect of decarbonization, where today, our products and services can be utilized in many aspects of our customers’ carbon reduction efforts,” said Scott Rowe, Flowerve’s president and chief executive officer. “Our strategy to diversify, decarbonize, and digitize – or the 3D growth strategy – supports and aligns directly with Flowserve’s long-standing purpose statement, to provide extraordinary flow control solutions to make the world better for everyone. Our laser focus on, and dedicated resources for, the 3D strategy throughout the organization is intended to accelerate our growth, create a substantial installed base in this emerging marketplace and fulfill our purpose.”
As businesses aim to meet energy demands while also striving to reduce carbon emissions, Flowserve will continue to be a leading provider of products and services which support and enable our customers to meet their carbon reduction goals.
To learn more about Flowserve’s commitment to new and existing customers through the energy transition, visit https://www.flowserve.com/en/energy-transition/energy-transition-in-motion/.
About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes 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, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon fourth-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that non-GAAP financial measures which exclude certain non-recurring items present additional useful comparisons between current results and results in prior operating periods, providing investors with a clearer view of the underlying trends of the business. Management also uses these non-GAAP financial measures in making financial, operating, planning and compensation decisions and in evaluating the Company's performance. Throughout our materials we refer to non-GAAP measures as “Adjusted.” Non-GAAP financial measures, which may be inconsistent with similarly captioned measures presented by other companies, should be viewed in addition to, and not as a substitute for, the Company’s reported results prepared in accordance with GAAP.
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
HOUSTON--(BUSINESS WIRE)--#DNOW--NOW Inc. (NYSE:DNOW) has scheduled a conference call to discuss the results for the first quarter of 2022 on Thursday, May 5, 2022 at 8:00 am (US Central Time). Financial results for the first quarter ending on March 31, 2022 are expected to be released that morning before the market opens.
The call will be broadcast through the Investor Relations link on NOW Inc.’s web site at ir.dnow.com on a listen-only basis. Listeners should log in prior to the start of the call to register for the webcast. A replay of the call will be available online for thirty days following the conference. Participants may also join the conference call by dialing 1-833-927-1758 within North America or 1-929-526-1599 outside of North America, Access Code: 990303, five to ten minutes prior to the scheduled start time and asking for the “NOW Inc. Earnings Conference Call” or the “DistributionNOW Earnings Conference Call.”
DistributionNOW is a worldwide supplier of energy and industrial products and engineered equipment solutions. With approximately 2,325 employees and a network of locations worldwide, we offer a suite of digital solutions branded as DigitalNOW® that provide customers world-class technology for digital commerce and data and information management. Our locations provide products and solutions to exploration and production companies, energy transmission and storage companies, refineries, chemical companies, utilities, mining, municipal water, manufacturers and engineering and construction companies. DistributionNOW has a legacy of over 150 years and is headquartered in Houston, Texas.
Mark Johnson
Senior Vice President and Chief Financial Officer
(281) 823-4754
PASADENA, Calif.--(BUSINESS WIRE)--#consultingandengineering--Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today the planned dates for its second quarter 2022 results and conference call.
On Wednesday, May 4, 2022, after market close, Tetra Tech intends to announce its second quarter 2022 results. On Thursday, May 5, 2022, at 8:00 a.m. Pacific Time, Tetra Tech plans to host a conference call to present and discuss the Company’s financial results and forward outlook.
Investors and other interested parties can access a live audio-visual webcast through a link posted on the Company's website at tetratech.com/investors. The webcast replay will be available following the call.
About Tetra Tech
Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 21,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn, Twitter, and Facebook.
Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.
Jim Wu, Investor Relations
Charlie MacPherson, Media & Public Relations
(626) 470-2844
Epoch Concepts Listed Seventh Among All Contractors and Third Among Small Businesses in Total Contract and Award Amounts
LITTLETON, Colo.--(BUSINESS WIRE)--#epochconcepts--In a recent public report from the Naval Information Warfare Center (NIWC) for the Pacific region, out of 817 firms that received awards in FY21, Epoch Concepts was listed seventh in total, new revenue awards, and third among Small Business Contractors.
For FY21, NIWC obligated more than $1.5 billion, with 43.29 percent awarded to small businesses and service-disabled, veteran-owned small businesses that provide IT solutions and services, like Epoch Concepts.
“The US Navy has long been a strategically important focus for us,” said Marcus Smiley, CEO of Epoch Concepts. “We specifically built a team of account managers, solution architects, and systems engineers with significant Navy operation and acquisition experience, and their veteran expertise helps drive our success across the Navy and DOD - here in the US and abroad.”
Comprising more than 5,500 civilian and government workers, NIWC PAC provides information technology and engineering support critical to Information Warfare (IW) capabilities for the U.S. Navy, as well as for Marine Corps, Air Force, Army, and Coast Guard programs. NIWC PAC’s capability focus areas include integrated cyber operations, ocean-to-land networks, artificial intelligence and machine learning (AI/ML), C4ISR for unmanned vehicles, and more.
In FY21 Epoch supported a significant number of NIWC PAC Programs and Projects in the NIWC PAC capability focus areas - from the buildout of R&D labs and supply of defensive cyber kits to the modernization of OCONUS business operations and unmanned tactical networks.
About Epoch Concepts - Epoch Concepts LLC, a service-disabled, veteran-owned small business, is an IT solutions and services provider serving the US government, systems integrators, and commercial enterprises. From storage and infrastructure, to cybersecurity, cloud, and hyperconverged IT infrastructure solutions, Epoch Concepts designs, sources, and integrates information technology systems that empower its customers to do even more—to reinvent, reimagine, and redefine what they do and how they do it. Learn more at www.epochconcepts.com.
Epoch Concepts
Chris Souther – Director, Marketing and Communications
888.263.0004
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SAN ANTONIO--(BUSINESS WIRE)--NuStar Energy L.P. (NYSE: NS) today announced that it will host a conference call on Thursday, May 5, 2022 at 9:00 a.m. Central Time to discuss the first quarter 2022 earnings results, which will be released earlier that day. The conference call may be accessed by dialing toll-free 844/889-7787, reservation passcode 4754807. International callers may access the conference call by dialing 661/378-9931, reservation passcode 4754807. The partnership intends to have a playback available following the conference call, which may be accessed by dialing toll-free 855/859-2056, reservation passcode 4754807. International callers may access the playback by dialing 404/537-3406, reservation passcode 4754807.
Persons interested in listening to the live presentation or a replay via the internet may access the presentation directly at https://edge.media-server.com/mmc/p/viq5tqzk or by logging on to NuStar Energy L.P.’s website at www.nustarenergy.com.
NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, Texas, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has approximately 10,000 miles of pipeline and 64 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia and specialty liquids. The partnership’s combined system has approximately 57 million barrels of storage capacity, and NuStar has operations in the United States, Canada and Mexico. For more information, visit NuStar Energy L.P.’s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/.
NuStar Energy L.P., San Antonio
Investors, Pam Schmidt, Vice President, Investor Relations
Investor Relations: 210-918-INVR (4687)
or
Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer,
Corporate Communications: 210-918-2314/210-410-8926
Funding round led by MKB with substantial contribution from the Microsoft Climate Innovation Fund highlights the power of data and analytics in lifting solar energy ROI.
BOSTON--(BUSINESS WIRE)--Raptor Maps, the leading provider of solar lifecycle management software, announced it closed $22 million in Series B funding to supercharge its groundbreaking Raptor Solar software platform.
The round is led by Canadian private investment firm MacKinnon, Bennett & Co. (MKB), which specializes in accelerating innovation in energy, transportation and climate tech. Other investors include the Microsoft Climate Innovation Fund, Blue Bear Capital, DNV, Buoyant Ventures, Congruent Ventures, Data Point Capital and ENGIE New Ventures.
Raptor Solar is an advanced software-as-a-service platform for the entire solar lifecycle — from financing and development through operations. Raptor Solar lets utility-scale and C&I solar companies standardize and analyze data, collaborate, optimize PV assets, reduce risk and ultimately lift financial return.
The SaaS platform serves as an auditable system of record featuring state-of-the-art digital twins of solar assets. An industry first, users can scan in module serial numbers to streamline warranty claims and verify supply chains. Subscribers benefit from inspection analytics, productivity tools and ability to quantify financial loss and even benchmark portfolios against Raptor Maps’ global database. The software solves major growing pains across solar finance, development and asset management.
“We’re very excited about our investment in the most sophisticated solar analytics and insights platform on the market,” says Chanel Damphousse, Partner at MKB. “Raptor Maps has some of the most intelligent and skilled experts in the solar industry, and their product roadmap represents a bold vision for how data married with productivity tools unlocks value across the lifecycle of solar assets.”
The funding will enable Raptor Maps to accelerate its hiring plans with significant investment in product, software and data science. The company will rapidly advance its feature-rich product roadmap with more functionality related to workflow automation, work orders, investor reporting and insights powered machine learning.
“Making the solar industry more profitable represents progress towards advancing a sustainable energy future,” explains CEO and co-founder Nikhil Vadhavkar. “Our mission is to build software that enables solar energy to scale. We’re delighted to have partners with the right expertise to support our ambitious plans.”
The world is facing an energy crisis in terms of climate change and the geopolitical need for energy independence. Energy companies are pushing to decarbonize, alleviate bottlenecks and rapidly scale renewable energy. Larger players and portfolios mean now more than ever that software is needed to ensure capital and labor are intelligently managed.
“To meet the world’s urgent climate goals, the energy industry needs tools to become nimbler and deploy renewable energy quickly,” explains Mark Kroese, General Manager, Sustainability Solutions at Microsoft. “Raptor Maps is digitizing solar supply chains, deployment and operations, which will help accelerate the global transition to cleaner energy solutions.”
Raptor Maps’ insights are powered by machine learning and their industry-leading data model created from over 50 GW of solar power across 40 countries. Their 2022 Global Solar Inspection Report finds that 2.6% of solar power is affected by anomalies.
The company's customers include some of the largest owners, operators and builders in the world, including Tesla, SOLV Energy, Rosendin Electric, Cypress Creek Renewables and McCarthy. Raptor Maps’ founders have their roots in MIT and the Y Combinator-born firm is a member of climate tech community Greentown Labs.
The funding is the latest in a string of recent raises in the solar space, indicating substantial opportunity in the industry. The global solar energy market is projected to grow to $223 billion by 2026, according to Allied Market Research.
About Raptor Maps
Raptor Maps offers advanced analytics, insights and productivity software for the entire solar lifecycle. The Raptor Solar software platform features a digital twin of your solar sites, aerial thermal inspections, data standardization and normalization, serial number mapping, warranty claim features, equipment records, mobile tools and more — all powered by their industry-leading data model. With intelligence for the entire solar industry — asset owners, managers, O&M, engineers, EPCs, financiers and OEMs — you can standardize and compare data across installations, increase performance, reduce risk and ultimately lift ROI. For more visit RaptorMaps.com.
About MKB
MKB is a Canadian private investment firm that specializes in providing growth equity to companies driving innovation in the energy, transportation and climate tech sectors. MKB takes significant minority positions in its portfolio companies and proactively assists management teams in reaching their full potential. For more visit mkbandco.com.
Images
Download here:
https://www.dropbox.com/sh/axsevu9a0ktr98h/AACNdsYXpI4fbFRPmaQJ4zOJa?dl=0
Raptor-Solar-0051.1-RT2-BestCropped-web.jpg
Scanning solar PV module serial number barcodes.
Raptor-Solar-Scan-017.1-RT2-For-Web.jpg
Solar staff scanning and logging PV module serial numbers in the field.
Raptor-Solar-Report-Comparison-2021-Nov-v1.png
PV inspection report comparisons over time.
Shane Carey
Raptor Maps, Inc.
508-498-1354
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Majority of U.S. Providers in Oil & Gas, Healthcare, and State & Local Emergency Services Have Not Implemented Full Cybersecurity Capabilities due to Lack of In-House Cyber Skills
News Highlights
SAN JOSE, Calif.--(BUSINESS WIRE)--Trellix, the cybersecurity company delivering the future of extended detection and response (XDR), today released a global Cyber Readiness Report investigating how U.S. critical infrastructure providers are preparing to defend themselves against cyberattacks. The report, based on research conducted by Vanson Bourne, surveyed 900 cybersecurity professionals from organizations with 500 or more employees. Trellix designed its survey to gauge the maturity of advanced cybersecurity implementations among U.S. government agencies, state and local governments and private sector peers responsible for protecting the nation’s critical infrastructure.
Worryingly, the report found that despite high-profile breaches, many critical infrastructure providers, particularly those in U.S. oil and gas, healthcare and state and local governments in charge of emergency services, have not yet fully implemented cybersecurity best practices. For example, three-quarters (75%) of respondents from the oil and gas sector admitted they had not yet fully deployed multifactor authentication, and more than three-quarters (77%) of those non-federal governments in charge of emergency services had not fully rolled out EDR or XDR solutions.
In addition, many critical infrastructure providers reported that they had not fully implemented sufficient supply chain risk management policies and processes, which is a particular concern following the SolarWinds and Microsoft Hafnium breaches in 2020 and 2021. Nearly three-quarters (74%) of healthcare providers admitted this had not been fully implemented.
The study revealed the cybersecurity talent gap is slowing the implementation of defensive technologies despite the current threat landscape, availability of private sector innovations, and greater willingness to invest. The lack of in-house cyber skills were blamed by over half of U.S. non-federal agencies running systems supporting local infrastructure and emergency services (51%) and respondents from the oil and gas sector (55%) for why their cyber defenses were not fully deployed.
“The hostilities in Ukraine have sharpened focus on the cyber readiness of critical infrastructure,” said Bryan Palma, CEO of Trellix. “The risks are known and well-discussed, but often these organizations do not have the cybersecurity talent to implement the necessary defenses. We need to scale security skills to prevent understaffed critical infrastructure from falling victim to cyber-attacks.”
The healthcare sector particularly noted underinvestment as a contributing factor, and two-fifths (38%) favored federal funding to deliver cybersecurity improvements. Critical infrastructure providers also called for the U.S. government to share more threat intelligence, with nearly all (95%) of respondents in the oil and gas industry saying there was room for improvement in the cyber threat data shared by their federal partners.
That said, the report shows the recent U.S. Executive Order on Improving the Nation’s Cybersecurity (EO 14028) could play an important role in strengthening the nation’s cyber defenses. Three-quarters (75%) of respondents anticipate using the EO as justification to obtain funding to meet their objectives. Over three-quarters (79%) of respondents believe that by setting higher cybersecurity standards for federal agency implementations, the government could raise standards for the IT industry and, through it, non-federal government and private sector implementations.
“By raising security requirements in areas such as software development for government implementations, the federal government is in a unique position to influence and raise related standards for the entire software industry,” said Thomas Gann, Chief Public Policy Officer at Trellix. “The Biden Administration has demonstrated constructive, responsible cybersecurity leadership over the last year, and we foresee the existing public-private partnerships as a sound foundation for building policy initiatives in this and other areas.”
The study also gauged the state of technology adoption and public-private collaboration among government and critical infrastructure providers in Australia, France, Germany, India, Japan, and the United Kingdom.
Additional Resources
About Trellix
Trellix is a global company redefining the future of cybersecurity. The company’s open and native extended detection and response (XDR) platform helps organizations confronted by today’s most advanced threats gain confidence in the protection and resilience of their operations. Trellix’s security experts, along with an extensive partner ecosystem, accelerate technology innovation through machine learning and automation to empower over 40,000 business and government customers. More at https://trellix.com.
Media Contact
Christopher Palm
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VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #ClimateChange--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green Energy as a Service (EaaS) solutions, announced today that E-Finity Distributed Generation, Capstone’s exclusive distributor for the Mid-Atlantic, Southeastern United States and the Caribbean, has secured an order for ten C65 microturbine systems, to be deployed at various oil and gas wellhead sites in the Marcellus Shale region. The systems will be added to an extensive fleet and commissioned as needed through 2023.
The natural gas-fueled microturbine systems will provide prime power 24/7 for various sites across the Marcellus reserve. The microturbines will allow the customer to increase on-site power production, lower operational costs and increase reliability. In addition, the dual-mode 65 kilowatt (kW) systems will provide the electrical power required to operate various buildings, including lighting, meters, and other equipment.
“Facing growing pressure to address climate change, global energy companies are pledging like never before to adapt to a lower-carbon future. For many, that involves investing in new technologies and infrastructures like microturbine systems to support new, greener ways of generating on-site electricity,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “These are the key areas in which Capstone Green Energy has built its business and where it continues to innovate and grow its Energy-as-a-Service (EaaS) business. We saved customers an estimated 1,115,100 tons of carbon and $698 million in annual energy savings over the last three years, and we are just getting started.”
Capstone's low-emission, oil-free microturbine systems play a crucial role in ensuring the continued development of these rich shale plays. Because microturbine emissions are considerably lower than traditional internal combustion engines, it is easier for operators to meet increasingly stringent emission requirements.
“Having our customers place repeat orders with us is a true testament to the reliability of the Capstone microturbine systems and their ability to operate in very harsh, unforgiving Appalachian conditions,” said Jeff Beiter, President, E-Finity Distributed Generation. “E-Finity now boasts an oil and gas fleet that exceeds 500+ operating units providing our customers with power when and where they need it.”
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it.. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.
For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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HOUSTON--(BUSINESS WIRE)--MOGAS Industries has recently been awarded contracts to supply its severe service technologies to multiple mining and autoclave sites throughout Southeast Asia. As a global leader in nickel and cobalt processing, MOGAS has revolutionized the valve industry by supplying the highest quality severe service technology to ensure safety, reliability and guaranteed performance. Several hundred automated and manual operated valves have been placed on order for a number of high-pressure acid leaching applications, constructed from titanium to handle slurry.
These orders reflect MOGAS’ continued commitment to serving customers throughout Asia and around the world. Further, MOGAS is dedicated to providing the best value and service to every customer. The contracts are multi-million dollars in combined value and represent MOGAS’ domination as a severe service technology provider. MOGAS China Sales Manager Jinny Zhu says of the recent orders: “We are so proud of our continued success in achieving customer satisfaction through collaboration and dedication to producing the world’s best severe service technologies.”
Zhejiang Huayou Cobalt Co., Ltd recently presented MOGAS with an award for “Best Quality Product” as a result of MOGAS’ exceptional product design and outstanding customer support in supplying valves for their HPAL process involving six autoclaves in Indonesia. As the energy revolution continues to re-shape the needs of our customers around the world, MOGAS will continue to work to create solutions to suit the specific requirements of each process, from mining to autoclaves to refining and more.
About MOGAS Industries, Inc.
MOGAS Industries is the dominant severe service technology company, providing world-renowned services and the best severe service, application-specific products for critical valve applications in power, mining, oil & gas, refining, chemical/petrochemical, pulp & paper and specialty industries.
Rajan Luthra
+1 832.300.7892
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Fans have the chance to win NASCAR Champion Brad Keselowski’s race-worn fire suit
LINCOLN, Ala.--(BUSINESS WIRE)--Roush Fenway Keselowski Racing (RFK) is proud to announce it is bringing back the carbon neutral No. 6 Ford powered by Castrol at Talladega Superspeedway on Sunday, April 24. RFK Co-owner and driver Brad Keselowski will be behind the wheel of the Castrol Mustang in the now iconic all-white paint scheme. RFK became the first carbon neutral NASCAR race team in 2021.
The initiative is part of Castrol’s ongoing relationship with RFK and is another step toward supporting its partners in achieving their lower carbon ambitions. RFK continues to make strides on its carbon neutral journey, having been able to achieve reductions across Scope 1, 2 and certain 3 emissions associated with the team and in accordance with internationally recognized PAS2060 standard that RFK utilized in becoming carbon neutral.
RFK achieved a 40% reduction in absolute carbon emissions from Scope 1 and 2 (twice their initial goal of 20%) and a 23% reduction in absolute Scope 3 emissions. Reductions at these levels were planned for 2022 but achieved a full year ahead of schedule.*
Beginning at the Talladega race both RFK cars will be using motor oils specially formulated for RFK by Castrol with more than 50% RRBO (re-refined base oil). Re-refined oil, on average, is 50% lower lifecycle carbon emissions vs. ordinary/conventional oil.**
Prior to the race on Sunday, Castrol will lead a community-wide clean-up with Keselowski and fellow RFK driver Chris Buescher, who pilots the No. 17 car, on Friday April 22 (which is also Earth Day) in Oxford, Ala. Fans across the country are invited to join in the efforts by posting pictures to Instagram of their own clean-ups with the hashtag #drivingforchange for a chance to win Keselowski’s race-worn, fire suit. Consumers must post pictures of their local clean ups by May 8.
“Since RFK’s milestone commitment to carbon neutrality last year, we at Castrol have continued to look for ways to help drive change and to support our partner RFK,” said Castrol's Vice President of Marketing, Americas Rayne Pacek. “And we’re excited to get fans involved this year in the community clean up and to have Chris and Brad leading the charge in Oxford, in addition to raising awareness on the track.”
Speaking about RFK’s carbon neutral journey Brad Keselowski said, “None of us can change the world overnight by ourselves, but every bit counts and I’m proud to be working alongside Castrol to raise awareness. I hope that RFK and Castrol can help inspire others and help to drive change.”
“We’re thrilled to work with both Castrol and RFK to help make Oxford, Ala., even more beautiful,” said Alton Craft, Mayor of Oxford, Alabama. “We hope that our efforts can help inspire fans across the country to chip in – a chance for them to win Brad’s white fire suit doesn’t hurt, either!”
Anyone interested in learning more about Castrol’s #drivingforchange initiative should go here.
*Reductions were made in accordance with the BSI PAS2060 standard for carbon neutrality, whereby an organization commits to reduce carbon emissions within their measured boundary and to report on that progress. Both the measured boundary and emission reductions have been assessed in accordance with BSI PAS2060 and the achievement of carbon neutrality has been assured by ERM CVS, a third-party assurer. RFK’s QES available upon request.
**April 14, 2018 IFEU Heidelberg, LCA for regeneration of waste oil to base oil. Nabil Abdalla, Horst Fehrenbach. Based on the average greenhouse gas emissions associated with four used oil re-refining production processes compared to crude oil refining as calculated by the Institute for Energy and Environmental Research.
About Castrol
Castrol, a global leader in lubricant technology, serves consumers in over 140 countries. Our leadership brands include Castrol® GTX® — a premium conventional motor oil; Castrol® GTX® High–Mileage™ – a premium synthetic blend designed for vehicles with over 75,000 miles; the Castrol® EDGE ® line of advanced full-synthetic super premium motor oils that offer unsurpassed strength and performance; as well as our range of commercial transport lubricants. To find out more about Castrol products and programs, please call 1–888–CASTROL or visit www.castrol.com/us
About Roush Fenway Keselowski Racing
RFK Racing, in its 35th season of competition in 2022, features an ownership lineup pairing one of the sport’s most iconic names, Jack Roush, along with NASCAR Champion, Brad Keselowski, and Fenway Sports Group owner John Henry. Roush initially founded the team in 1988 and it has since become one of the most successful racing operations in the world, propelling him to be the first NASCAR owner to amass three hundred wins and capturing eight championships, including back-to-back NASCAR Cup titles in 2003 and 2004. Keselowski, a former owner himself in the NASCAR Truck Series, joins the ownership fold while piloting the iconic No. 6 Ford, and brings to the team a championship mindset himself having won the 2012 NASCAR Cup Series Championship. In 2007, Roush partnered with Henry, who also owns Major League Baseball’s Boston Red Sox and English Premier League’s Liverpool F.C., to form Roush Fenway Racing. Off the track, RFK is a leader and proven winner in NASCAR marketing solutions, having produced multiple award-winning social media, digital content and experiential marketing campaigns. Visit rfkracing.com, and follow the team on all social platforms @rfkracing.
About Keep Alabama Beautiful
Keep Alabama Beautiful (KALB) is a 501(c)3 non-profit organization serving the state of Alabama and believes that everyone deserves to live in a clean and healthy environment. An affiliate of Keep America Beautiful, Keep Alabama Beautiful (KALB) is the partnership of more than 150 organizations and communities in Alabama. Individuals, organizations and corporations are the strength of KALB and seek to increase awareness of ways to maintain a clean and beautiful state. Our mission is to enable volunteers throughout Alabama to improve litter prevention practices, recycling, beautification and community greening efforts. Our vision is a clean and beautiful Alabama.
Castrol
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MIAMI--(BUSINESS WIRE)--The Management Committee of I Squared Capital is pleased to announce that two dynamic industry veterans are joining our global team. Damian Darragh is joining as a Fund Partner for the ISQ Global Infrastructure Equity Funds covering renewables and the energy transition in the U.S. and Europe, bringing the total number of I Squared Capital partners to twelve. Tito Vidaurri is joining as a Senior Policy Advisor focusing on Mexican investment opportunities, as well as Latin America more broadly.
Sadek Wahba, Chairman and Managing Partner of I Squared Capital said, “This is an exciting time in the history of I Squared Capital as our platform and team continue to expand. We are truly excited to have Damian and Tito join us as we seek to identify unique opportunities across regions and sectors. Damian will be integral in our pursuit of energy transition investments and Tito will lead our coverage of Mexico and Latin America. I have known and worked alongside both of them for many years and cannot think of better people for these key roles.”
With over 25 years of experience in both fund-side and portfolio company leadership, Damian Darragh has a distinguished track record across the energy, waste management and transport sectors, with a particular focus on renewables and the energy transition. He developed four power companies over his career: Infinis and Conrad Energy in the UK, RTR in Italy, and Everpower in the U.S., with a combined enterprise value of over $5 billion. These businesses grew to strong market positions with onshore wind, solar photovoltaic, hydropower, landfill gas, peaking generation, and battery storage power plants. No stranger to I Squared Capital, Damian has worked alongside the team for the last six years, including the acquisition of Viridian (now known as Energia) and launching Conrad Energy as a new infrastructure platform to provide critical, fast-response and highly flexible generation capacity to the electrical grid in the UK.
Tito Vidaurri’s career spans nearly forty years starting in Mexico’s Ministry of Finance where, as deputy director in the department of Financial Planning, he was involved in some of the negotiations of the country’s foreign debt. He has held various leadership positions over the years including heading Morgan Stanley’s Northern Latin America investment banking, Chairman of the Board and CEO of Deutsche Bank Mexico, and later Chairman of the Board and CEO of Bank of America and Merrill Lynch in Mexico. More recently he was the Mexico Country Head for EIG Global Energy Partners, where he originated several investment opportunities including renewable power projects in the country. He is also an independent board member of Invex Controladora, a leading financial group in Mexico.
In our tenth anniversary year, I Squared now has over $34 billion in assets under management. With this growth comes the need for additional resources across the firm. Over the past six months, 19 professionals have joined across various groups including ten on the investment team and nine in other functions. Over the course of 2022 and beyond, we look to add significant resources, including investment professionals in the U.S., Latin America, Europe, and Asia, as well as the Credit and InfraTech platforms.
About I Squared Capital: I Squared Capital is an independent global infrastructure investment manager with over $34 billion in assets under management focusing on utilities, digital infrastructure, energy, transport and social infrastructure in North America, Europe, Latin America, and Asia. Headquartered in Miami, the firm also has offices in Hong Kong, London, New Delhi, Singapore, and Taipei.
I Squared Capital
Andreas Moon
Partner and Head of Investor Relations
+1 (786) 693-5739
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Technical paper outlines how EV makers will be able to perform previously impossible battery chemistry simulations and accelerate development of next-gen batteries using fault-tolerant quantum computers
PALO ALTO, Calif.--(BUSINESS WIRE)--#battery--PsiQuantum, the company that’s building the world’s first utility-scale quantum computer, today announced a new analysis of how electrolyte molecules in Lithium-ion batteries (LiB) can be simulated on a fault-tolerant quantum computer, enabling breakthroughs sought by automotive manufacturers in next-generation battery design.
Information on the breakthrough is outlined in a peer-reviewed technical paper titled ‘Fault-tolerant resource estimate for quantum chemical simulations: Case study on Li-ion battery electrolyte molecules’ that PsiQuantum co-authored with Mercedes-Benz R&D. The paper, published in the journal Physical Review Research on April 7, 2022, offers a methodical account of how fault-tolerant quantum computing can accelerate battery designs, including Lithium-ion (Li-ion) batteries, the most ubiquitous technology for electric vehicle battery design today.
Lithium-ion batteries function during charge and discharge cycles by moving charge from one electrode to another across an electrolyte material. New and improved electrolytes will have a significant impact on various aspects of battery performance, including energy density (efficiency), charging speed, battery life, range, cost, and safety.
Development of new Li-ion batteries currently involves a significant amount of trial and error. In principle, this slow and expensive R&D process could be dramatically accelerated by simulating and validating new chemistries in silico, as is now routine for applications such as aerodynamics, mechanical design, and others. However, conventional supercomputers struggle to simulate the crucially important quantum behavior of the molecules and reactions in question. Quantum computers promise to overcome this constraint.
PsiQuantum's team investigated quantum algorithms for simulating effects of the common electrolyte additive, fluoroethylene carbonate. Their analysis of these electrolyte simulations uncovered new optimizations, only apparent at the scale of fault-tolerant quantum computation, which reduced the resource overhead of the application to be more manageable. They also demonstrated the utility of a method specific to photonic quantum computing known as interleaving (paper on arXiv.org), which allows the time and memory resources of a quantum computer to be traded off. These breakthroughs mark a significant advancement towards the goal of efficient chemistry simulations on a quantum computer.
“Better batteries are vital for our continued transition away from fossil fuels towards more sustainable forms of transport and energy storage,” said Pete Shadbolt, chief scientific officer at PsiQuantum. “We’ve been able to optimize and enhance how a quantum computer can improve the molecular design of batteries by carefully considering how fault-tolerant machines of the future will operate. In light of greater recognition that error correction will be required to run useful quantum algorithms, customers are coming to us to understand fault-tolerant programming and resource requirements when assessing potential applications.”
In the paper, the PsiQuantum team assessed how existing ideas in quantum algorithms can be implemented in, and optimized for, fault tolerant hardware – a critical and difficult step needed to have any idea about how difficult the algorithms will be to run. They found that when run on a fault-tolerant quantum computer, these approaches will be able to simulate otherwise impossible electrolyte interactions within hours. PsiQuantum’s research provides a comprehensive analysis of the resources and costs necessary to execute this algorithm for a variety of candidate molecules, including details on how to compile and run this algorithm on the fault-tolerant quantum architecture that PsiQuantum is building.
For additional information about the key findings of the Li-ion research paper read our blog here.
About PsiQuantum
Powered by breakthroughs in silicon photonics and fault-tolerant quantum architecture, PsiQuantum is building the first utility-scale quantum computer to solve some of the world’s most important challenges. PsiQuantum’s approach is based on photonic qubits, which have significant advantages at the scale required to deliver a fault-tolerant, general-purpose quantum computer. With quantum chips now being manufactured in a world-leading semiconductor fab, PsiQuantum is uniquely positioned to deliver quantum capabilities that will drive advances in climate, healthcare, finance, energy, agriculture, transportation, communications, and beyond. To learn more, visit www.psiquantum.com.
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