HOUSTON--(BUSINESS WIRE)--BP Prudhoe Bay Royalty Trust (NYSE: BPT) announces that unitholders will receive a dividend for the quarter ended March 31, 2022. The dividend information is as follows:
Ex-Dividend Date: |
April 14, 2022 |
||||
Record Date: |
April 18, 2022 |
||||
Payable Date: |
April 20, 2022 |
||||
Dividend Rate: |
$1.0875353 per Unit |
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As provided in the Trust Agreement, the quarterly royalty payment by Hilcorp North Slope, LLC to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter. The amount of revenue is determined by multiplying Royalty Production for each day in the calendar quarter by the Per Barrel Royalty for that day. Pursuant to the Trust Agreement, the Per Barrel Royalty for any day is the WTI Price for the day less the sum of (i) Chargeable Costs multiplied by the Cost Adjustment Factor and (ii) Production Taxes.
For the three months ended March 31, 2022 the Per Barrel Royalty was calculated based on the following information:
Average WTI Price |
$94.45 |
Average Adjusted Chargeable Costs |
$69.61 |
Average Production Taxes |
$3.42 |
Average Per Barrel Royalty |
$21.12 |
Average Net Production (mb/d) |
73.5 |
The average daily closing WTI price was above the “break-even” price for the quarter, resulting in a quarterly payment with respect to the Royalty Interest of $23,813,974 to the Trust, after the addition of $760,579 representing an underpayment to the Trust for quarter ended December 31, 2021. In accordance with the Trust Agreement, the Trustee will pay all accrued expenses of the Trust, then distribute the excess, if any, of the cash received by the Trust over the Trust’s expenses to unit holders. After paying the Trust’s expenses accrued through March 31, 2022, $23,273,256 is available for distribution to unitholders.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release are subject to a number of risks and uncertainties beyond the control of the Trustee. The actual results, performance and prospects of the Trust could differ materially from those expressed or implied by forward-looking statements. Descriptions of some of the risks that could affect the future performance of the Trust appear in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2021, the Trust’s subsequent Quarterly Reports on Form 10-Q, and the Trust’s other filings with the Securities and Exchange Commission. The Trust’s annual, quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov. Neither the Trust nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release.
Elaina Rodgers
The Bank of New York Mellon Trust Company, N.A.
713-483-6020
National Homebuilder Partners with Ford to Create the “Home of the Future” on Innovation Way
ATLANTA--(BUSINESS WIRE)--PulteGroup, one of the nation’s largest homebuilders, has built a living laboratory to explore how homeowners will live in the not-so-distant future. Located on “Innovation Way” within Babcock Ranch, America’s first and largest solar-powered town near Fort Myers, Florida, PulteGroup has unveiled two model homes that, while not yet for sale, are testing the latest, and in some cases, not yet commercially available, advancements in sustainable new home technologies and innovations. With More Life Built In®, these Pulte Homes models include integration with the new, all-electric Ford® F-150 Lightning™ vehicle to create backup power and energy management solutions.
“Among our core values is foresight for the future, where we are thinking, planning and testing for how people will interact and live within their homes,” said Ryan Marshall, President and Chief Executive Officer of PulteGroup. “At Innovation Way, we are making the future right at home with cutting-edge technology and homebuilding strategies that represent a new era of smart, comfortable, healthy and sustainable living. Over time, the performance of these homes will provide valuable insight into how we innovate our homes and delight buyers well into the future.”
Built Ford Tough on the Road and at Home
At its homes on Innovation Way, PulteGroup is collaborating with Ford and Sunrun to test how the Ford Intelligent Backup Power system of the F-150 Lightning can serve as a critical lifeline to homeowners during power outages. Both the Home Integration System and the Charge Station Pro are built right into the Pulte home. Once plugged in, a fully charged F-150 Lightning can provide the home with power for up to three days during an outage, or as long as 10 days when used in conjunction with rationing or solar power*. The truck can also optimize the home’s energy usage when bidirectional power is combined with other lower-carbon energy sources to help manage energy costs and consumption.
“Ford is committed to leading the electric vehicle revolution with new features that can make people’s lives better and more rewarding. We will continue to work with innovative companies like PulteGroup to demonstrate how the future may look…today,” said Matt Stover, Ford Global Director of Charging and Energy Services. “The ability to showcase, test and learn from the energy storage capabilities of F-150 Lighting in a real-life home setting provides us with valuable knowledge for how electric vehicles can help drive performance, capability and productivity at home, as well as on the road.”
Responsive Home Innovations
Found within the 2,400+ and 3,600+ square-foot, single- and two-story Pulte homes are innovative products and technologies designed to make the future healthier, more productive, comfortable, safer, and responsive to the world around us at home. While just a sampling, included in the test model homes are:
Over the next two years, Florida Power & Light (FPL) will collect, analyze and compare the homes’ energy consumption data, with the goal of identifying the most relevant and impactful innovations in sustainability for the homebuyers of tomorrow. Through this data collection and analysis, PulteGroup will receive actionable insights into which specific features and combinations are viable on a larger scale.
“Through the design, construction and unveiling of these trailblazing homes, we have been fortunate to collaborate with partners that share our commitment to innovation and quality,” said Richard McCormick, Florida Area President of PulteGroup. “In addition to Ford, FPL and Babcock Ranch developer Kitson & Partners, we are grateful to our collaborators at Moen, Whirlpool, Lennox, Sonos, Broan, Sunrun, Rheia and all of our many supplier partners for embarking on this exciting journey with us.”
To learn more about PulteGroup’s model homes of the future showcased on Innovation Way, please visit the press page at: https://newsroom.pultegroup.com/presskits/pulte-homes-innovation-way.htm.
For more information about Pulte’s currently selling communities at Babcock Ranch, please visit: www.pulte.com/homes/florida/fort-myers/babcock-ranch.
* When the home is properly equipped, and home transfer switch disconnects home from the grid. Based on 30 kWh use per day using the F-150 Lightning with the extended-range battery. Your results may vary depending on energy usage. Rationing power assumes limiting the number of devices and turning the truck off when not needed.
About PulteGroup
PulteGroup, Inc. (NYSE: PHM), based in Atlanta, Georgia, is one of America’s largest homebuilding companies with operations in more than 40 markets throughout the country. Through its brand portfolio that includes Centex, Pulte Homes, Del Webb, DiVosta Homes, American West and John Wieland Homes and Neighborhoods, the company is one of the industry’s most versatile homebuilders able to meet the needs of multiple buyer groups and respond to changing consumer demand. PulteGroup’s purpose is building incredible places where people can live their dreams.
For more information about PulteGroup, Inc., and PulteGroup brands, go to pultegroup.com; pulte.com; centex.com; delwebb.com; divosta.com; jwhomes.com; and americanwesthomes.com. Follow PulteGroup, Inc. on Twitter: @PulteGroupNews.
For Media Inquiries
Macey Kessler
office: 404.978.6414
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STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (NYSE: AMPS) (“Altus Power” or the “Company”), a leading clean electrification company, today announced that 201,250 of its Alignment Shares automatically converted into 2,011 shares of Class A Common Stock. The shares will begin trading on the New York Stock Exchange (“NYSE”) on April 11, 2022.
The conversion occurred automatically and without any action on the part of the shareholders pursuant to Altus Power’s Third Amended and Restated Certificate of Incorporation. Altus Power does not expect the conversion to have any material effect on its future operations.
Following the automatic conversion, there were 153,650,841 shares of the Company’s Class A Common Stock outstanding and 1,207,500 of the Company’s Alignment Shares outstanding. The CUSIP number of the NYSE-listed Class A Common Stock is 02217A 102.
About Altus Power, Inc.
Altus Power, based in Stamford, Connecticut, is the nation’s premier clean electrification company. Altus Power serves its commercial, industrial, public sector and community solar customers by developing, owning and operating locally sited solar generation, energy storage, and EV charging infrastructure across 18 states from Vermont to Hawaii. Visit altuspower.com to learn more.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “could”, “continue”, “expect”, “estimate”, “may”, “plan”, “outlook”, “future” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to Altus Power’s future prospects, developments and business strategies. These statements are based on Altus Power’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Altus Power’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the ability of Altus Power to maintain its listing on the New York Stock Exchange; (2) the ability to recognize the anticipated benefits of the recently completed business combination and related transactions (the “Transactions”), which may be affected by, among other things, competition, the ability of Altus Power to grow and manage growth profitably, maintain relationships with customers, business partners, suppliers and agents and retain its management and key employees; (3) costs related to the Transactions; (4) changes in applicable laws or regulations; (5) the possibility that Altus Power may be adversely affected by other economic, business, regulatory and/or competitive factors; (6) the impact of COVID-19 on Altus Power’s business; and (7) the failure to realize anticipated pro forma results and underlying assumptions related to the Transactions.
Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found under the heading “Risk Factors” in Altus Power’s Form 10-K filed with the Securities and Exchange Commission on March 24th, 2022, as well as the other information we file with the Securities and Exchange Commission., as well as the other information we file with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and Altus Power undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.
This press release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Altus Power and is not intended to form the basis of an investment decision in Altus Power. All subsequent written and oral forward-looking statements concerning Altus Power or other matters and attributable to Altus Power or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.
For Media:
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ICR, Inc.
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Caldwell Bailey, ICR, Inc.
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HOUSTON--(BUSINESS WIRE)--NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT) announced today the execution of a 20-year sale and purchase agreement (“SPA”) with ENN LNG (Singapore) Pte Ltd (“ENN LNG”), a wholly-owned subsidiary of ENN Natural Gas Co., Ltd. (“ENN”) for the supply of liquefied natural gas (“LNG”) from NextDecade’s Rio Grande LNG export project (“RGLNG”) in Brownsville, Texas.
Under the SPA, ENN LNG will purchase 1.5 million metric tonnes per annum (MTPA) of LNG indexed to Henry Hub on a free-on-board basis. The LNG supply will be from the first two trains at RGLNG with the first train expected to start commercial operations as early as 2026.
“We are pleased to announce this long-term LNG SPA with ENN, a premier Chinese energy company. As one of China’s largest private companies, ENN is a major participant in China’s energy market, and we look forward to a successful, long-term relationship with ENN,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “This SPA underscores the strength of NextDecade’s differentiated offering. The commercial momentum at RGLNG is accelerating and we believe the company is well placed to benefit from the strengthening LNG market.”
Zheng Hongtao, President of ENN Natural Gas Co., Ltd said, “This agreement secures additional volume for our LNG portfolio and helps ensure we can meet the growing demand for secure, flexible, and cleaner energy for our customers in the future. The signing of this SPA reflects ENN’s goal of promoting the global energy transition and is of significance given RGLNG’s low GHG emissions profile relative to other LNG supply sources. We look forward to working with NextDecade in the years to come.”
Assuming the achievement of further LNG contracting and financing, NextDecade anticipates making a positive final investment decision (“FID”) on a minimum of two trains of the Rio Grande LNG export project in the second half of 2022, with FIDs of its remaining three trains to follow thereafter.
About NextDecade Corporation
NextDecade Corporation is an energy company accelerating the path to a net-zero future. Leading innovation in more sustainable LNG and carbon capture solutions, NextDecade is committed to providing the world access to cleaner energy. Through our wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are developing a 27 MTPA LNG export facility in South Texas along with one of the largest carbon capture and storage projects in North America. We are also working with third-party customers around the world to deploy our proprietary processes to lower the cost of carbon capture and storage and reduce CO2 emissions at their industrial-scale facilities. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com.
About ENN Natural Gas
As one of the largest private energy companies in China, ENN Natural Gas Co., Ltd. (Stock code 600803.SH) operates over 250 city gas projects nationwide, has annual LNG distribution capacity over 10 bcm, and runs the first large-scale private LNG terminal in China -- Zhoushan LNG Terminal. Its business layout covers the entire natural gas value chain, including distribution, trading, storage and transportation, production, and engineering. Relying on industry best practice, ENN Natural Gas Co., Ltd. has built an intelligent operation platform for the natural gas industry – GreatGas.cn. It accelerates the aggregation of demand, resources, reserves, and delivery ecology of the natural gas industry, innovates and develops digital intelligence services, and promotes the digital intelligence upgrade of the natural gas industry. In 2021, ENN Natural Gas Co., Ltd.’s total natural gas sales volume was 37.2 bcm, accounting for approximately 10% of China’s total natural gas consumption.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design,” “assume,” “budget,” “guidance,” and “forecast” and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on assumptions and analysis made by NextDecade in light of current expectations, perceptions of historical trends, current conditions and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include NextDecade’s progress in the development of its LNG liquefaction and export projects and the timing of that progress; the timing of achieving a final investment decision on the Rio Grande LNG terminal (the “Terminal”); reliance on third-party contractors to successfully complete the Terminal and the pipeline to supply gas to the Terminal; ability to secure additional debt and equity financing in the future to complete the Terminal on commercially acceptable terms; accuracy of estimated costs for the Terminal; ability to achieve operational characteristics of the Terminal, when completed, including liquefaction capacities, and any differences in such operational characteristics from expectations; development risks, operational hazards and regulatory approvals applicable to NextDecade's development, construction and operation activities and those of its third-party contractors and counterparties; technological innovation which may lessen NextDecade's anticipated competitive advantage or demand for its offerings; global demand for and price of LNG; availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG industries, including environmental laws and regulations that impose significant compliance costs and liabilities; global pandemics, including the 2019 novel coronavirus pandemic, the Russia-Ukraine conflict, other sources of volatility in the energy markets and their impact on NextDecade's business and operating results, including any disruptions in its operations or development of the Terminal and the health and safety of its employees, and on its customers, the global economy and the demand for LNG; risks related to doing business in and having counterparties in foreign countries; NextDecade's ability to maintain the listing of our securities on the Nasdaq Capital Market or another securities exchange or quotation medium; changes adversely affecting the businesses in which NextDecade is engaged; management of growth; general economic conditions; ability to generate cash; and the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. Additionally, any development of the Terminal remains contingent upon completing required commercial agreements, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.
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DALLAS--(BUSINESS WIRE)--Holly Energy Partners, L.P. (NYSE: HEP) (the “Partnership” or “HEP”) announced today that it and its wholly owned subsidiary, Holly Energy Finance Corp. (together with the Partnership, the “Issuers”), have finalized the terms of their previously announced offering of $400 million in aggregate principal amount of 6.375% senior notes due 2027 (the “Notes”) in a private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the “Securities Act”) to eligible purchasers (the “Offering”). The Notes will be issued at a price equal to 100% of the principal amount thereof.
The Notes will initially be fully and unconditionally guaranteed on a senior unsecured basis by the Partnership’s existing wholly owned subsidiaries (other than Holly Energy Finance Corp., UNEV Pipeline, LLC and certain immaterial subsidiaries). The Partnership intends to use the net proceeds from the Offering to partially repay outstanding borrowings under its revolving credit agreement. The Offering is expected to close on April 8, 2022, subject to customary closing conditions.
The Notes and the related guarantees have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes are being sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.
This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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 subsidiaries of HF Sinclair Corporation (“HF Sinclair”). The Partnership, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude pipelines, tankage and terminals in Colorado, Idaho, Iowa, Kansas, Missouri, Nevada, New Mexico, Oklahoma, Texas, Utah, Washington and Wyoming, as well as refinery processing units in Kansas and Utah.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains various “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. When used in this press release, words such as “anticipate,” “project,” “expect,” “will,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may” and similar expressions and statements regarding our plans and objectives for future operations are intended to identify forward-looking statements. These forward-looking 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. All statements concerning our expectations for future results of operations are based on forecasts for our existing operations and do not include the potential impact of any future acquisitions. Our forward-looking statements are subject to a variety of risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, projected or expected. Certain factors could cause actual results to differ materially from results anticipated in the forward-looking statements. These factors include, but are not limited to: (i) HF Sinclair’s and our ability to successfully integrate the Sinclair Oil Corporation and Sinclair Transportation Company businesses acquired from REH Company (formerly known as The Sinclair Companies, referred to herein as “Sinclair”) (collectively, the “Sinclair Transactions”) with their existing operations and fully realize the expected synergies of the Sinclair Transactions or on the expected timeline; (ii) risks relating to the value of our limited partner common units issued at the closing of the Sinclair Transactions from sales by the Sinclair holders following the closing of the Sinclair Transactions; (iii) the demand for and supply of crude oil and refined products, including uncertainty regarding the effects of the continuing COVID-19 pandemic on future demand and increasing societal expectations that companies address climate change; (iv) risks and uncertainties with respect to the actual quantities of petroleum products and crude oil shipped on our pipelines and/or terminalled, stored or throughput in our terminals and refinery processing units; (v) the economic viability of HF Sinclair, 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; (vi) the demand for refined petroleum products in the markets we serve; (vii) our ability to purchase and integrate future acquired operations; (viii) our ability to complete previously announced or contemplated acquisitions; (ix) the availability and cost of additional debt and equity financing; (x) the possibility of temporary or permanent reductions in production or shutdowns at refineries utilizing our pipelines, 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; (xi) the effects of current and future government regulations and policies, including the effects of current and future restrictions on various commercial and economic activities in response to the COVID-19 pandemic; (xii) delay by government authorities in issuing permits necessary for our business or our capital projects; (xiii) our and our joint venture partners’ ability to complete and maintain operational efficiency in carrying out routine operations and capital construction projects; (xiv) the possibility of terrorist or cyberattacks and the consequences of any such attacks; (xv) uncertainty regarding the effects and duration of global hostilities and any associated military campaigns which may disrupt crude oil supplies and markets for refined products and create instability in the financial markets that could restrict our ability to raise capital; (xvi) general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States; (xvii) the impact of recent or proposed changes in the tax laws and regulations that affect master limited partnerships; and (xviii) other financial, operational and legal risks and uncertainties detailed from time to time in our filings with the U.S. Securities and Exchange Commission.
All forward-looking statements included in this press release and all subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Other factors described herein, or factors that are unknown or unpredictable, could also have a material adverse effect on future results. You should not put undue reliance on any forward-looking statements. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements set forth in the “Risk Factors” section in our Annual Report on Form 10-K for the year ended December 31, 2021. 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.
Craig Biery
Vice President, Investor Relations
or
Trey Schonter
Investor Relations
Holly Energy Partners, L.P.
214-954-6511
Securities and Exchange Commission cautions investors about such offers, which are often below market price
BALTIMORE--(BUSINESS WIRE)--Constellation (Nasdaq: CEG), America’s largest producer of carbon-free energy, is recommending that investors reject a “mini-tender” offer by TRC Capital Investment Corp. (TRC), a Canadian investment firm. Constellation received notification of an unsolicited mini-tender offer by TRC dated April 1, 2022, to purchase up to 2 million shares of Constellation common stock at a price that was 4.26 percent below Constellation’s common stock share price on the Nasdaq Stock Market on the date of the offer. The target number of shares is less than 1 percent (0.61%) of Constellation’s outstanding shares.
Constellation does not endorse TRC's mini-tender offer and recommends that its stockholders do not tender their shares in response to the offer because the price is lower than the current market price for Constellation’s shares. Stockholders who have already tendered their shares may withdraw them at any time prior to the expiration of the offer, in accordance with the terms of TRC’s offer. The offer is currently scheduled to expire at 12:01 a.m. Eastern Time on May 4, 2022, though TRC may extend the offering period at its discretion.
Mini-tender offers typically aim to acquire less than five percent of a company's outstanding shares, thereby avoiding many investor protections, including the disclosure and procedural requirements of the Securities and Exchange Commission (SEC) that apply to larger tender offers under United States securities laws. TRC has a history of making similar mini-tender offers for shares of publicly traded companies.
Constellation urges stockholders to obtain current market quotes for their shares, review the conditions to TRC's mini-tender offer, consult with their brokers or financial advisors and exercise caution with respect to this mini-tender offer. Constellation is not associated with TRC, its mini-tender offer or the offer documentation.
The SEC has cautioned investors about these offers, noting that some bidders make mini-tender offers at below-market prices, hoping that they will “catch investors off guard if the investors do not compare the offer price to the current market price." The SEC's Tips for Investors regarding mini-tender offers may be found on the SEC's website at www.sec.gov/investor/pubs/minitend.htm.
Constellation requests that a copy of this press release be included with all distributions of materials relating to TRC's mini-tender offer.
About Constellation
Constellation is the nation’s largest producer of carbon-free energy and the leading competitive retail supplier of power and energy products and services for homes and businesses across the United States. Headquartered in Baltimore, its generation fleet powers more than 20 million homes and businesses and is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is 90 percent carbon-free. Constellation has set a goal to eliminate 100 percent of its greenhouse gas emissions by leveraging innovative technology and enhancing its diverse mix of hydro, wind and solar resources paired with the nation’s largest carbon-free nuclear fleet. Constellation’s family of retail businesses serves approximately 2 million residential, public sector and business customers, including three-fourths of the Fortune 100. Learn more at www.constellationenergy.com or on Twitter at @ConstellationEG.
Emily Duncan
Investor Relations
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Paul Adams
Corporate Communications
410-470-9700
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SAN RAMON, Calif. & SINGAPORE--(BUSINESS WIRE)--Chevron (NYSE: CVX) announced an agreement to join the Global Centre for Maritime Decarbonisation (GCMD). Chevron’s involvement aims to help support GCMD’s efforts to develop potentially scalable lower carbon technologies – including those that enable the use of ammonia as a maritime fuel – and the commercial means to enable their adoption.
The GCMD is an independent, non-profit organization, established with support from the Maritime and Port Authority of Singapore. It collaborates with the maritime industry, plans to conduct pilot projects and trials, and advocates for well-designed climate policies and standards.
“Shipping is a hard-to-abate sector and to reach the International Maritime Organization's climate goals, collaboration across the value chain is required,” said Professor Lynn Loo, CEO of the Global Centre for Maritime Decarbonisation. “We look forward to working with Chevron and capitalizing on its experience as a fuel producer, supplier and end user to operationalize pilots, which we believe will ultimately shorten the time to deployment and adoption of decarbonization solutions. This partnership will enable both organizations to work closely on the fuels of the future as well as carbon capture technologies, both of which are critical enablers expected to help the sector meet its net zero ambitions.”
As part of its pursuit of a lower carbon future, Chevron Shipping is continuing to explore new technologies, energy-saving devices, and lower carbon fuels, and is collaborating with industry organizations on these potential solutions.
“Lowering the carbon intensity of shipping requires fundamental changes across the entire maritime value chain,” said Mark Ross, president of Chevron Shipping Company. “This is a truly complex task that requires industry-wide collaboration, innovation, and well-designed policy. GCMD brings together knowledge and expertise to help meet this challenge. We look forward to working with our fellow partners to progress our shared lower carbon ambitions.”
In 2021, Chevron launched Chevron New Energies (CNE) to accelerate lower carbon businesses in hydrogen; carbon capture, utilization and storage; offsets; and emerging energy opportunities, as well as support Chevron’s continued focus on renewable fuels and products. As part of its strategy, CNE is focused on customers in sectors of the economy with harder to abate emissions.
“Chevron is leveraging our capabilities, assets, and customer relationships to identify opportunities to lower emissions of our own operations, while also identifying ways that essential sectors of the economy, such as the maritime industry, can achieve their lower carbon goals,” said Austin Knight, vice president of Hydrogen for Chevron New Energies. “Alongside Chevron Shipping, we look forward to collaborating with GCMD and its partners on this effort.”
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
About Global Centre for Maritime Decarbonisation
The Global Centre for Maritime Decarbonisation (GCMD) was formed on 1 August 2021 with funding from the Maritime & Port Authority of Singapore (MPA) and six founding partners, namely BHP, BW, DNV Foundation, Eastern Pacific Shipping, Ocean Network Express and Sembcorp Marine. The Centre’s mission is to help the maritime industry reduce its carbon emissions as quickly as possible by shaping standards, deploying solutions, financing projects, and fostering collaboration across sectors. Strategically located in Singapore, the world’s largest maritime fuelling hub and second largest container port, the Centre will coordinate regional and global decarbonisation efforts. In January, the Centre awarded its ammonia bunkering safety study to a DNV-led consortium, with Surbana Jurong and the Singapore Maritime Academy as partners. For more information, please visit www.gcformd.org.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 25 of the company’s 2021 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Chevron
Creighton Welch
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281.703.2728
Global Centre for Maritime Decarbonisation
Tina Ang
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+65 6979 7660
DALLAS--(BUSINESS WIRE)--Holly Energy Partners, L.P. (NYSE: HEP) (the “Partnership”) announced today that it and its wholly owned subsidiary, Holly Energy Finance Corp. (together with the Partnership, the “Issuers”), subject to market conditions, intend to offer $400 million in aggregate principal amount of senior notes due 2027 (the “Notes”) in a private placement in accordance with Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”) to eligible purchasers (the “Offering”). The Notes will be unsecured, senior obligations of the Issuers, and interest will be payable semi-annually in arrears. The Notes will initially be guaranteed on a senior unsecured basis by the Partnership’s existing wholly owned subsidiaries (other than Holly Energy Finance Corp., UNEV Pipeline, LLC and certain immaterial subsidiaries). The Partnership intends to use the net proceeds from the Offering to partially repay outstanding borrowings under its revolving credit agreement.
The Notes and the related guarantees have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Issuers plan to offer and sell the Notes only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.
This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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 subsidiaries of HF Sinclair Corporation (“HF Sinclair”). The Partnership, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude pipelines, tankage and terminals in Colorado, Idaho, Iowa, Kansas, Missouri, Nevada, New Mexico, Oklahoma, Texas, Utah, Washington and Wyoming, as well as refinery processing units in Kansas and Utah.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains various “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. When used in this press release, words such as “anticipate,” “project,” “expect,” “will,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may” and similar expressions and statements regarding our plans and objectives for future operations are intended to identify forward-looking statements. These forward-looking 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. All statements concerning our expectations for future results of operations are based on forecasts for our existing operations and do not include the potential impact of any future acquisitions. Our forward-looking statements are subject to a variety of risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, projected or expected. Certain factors could cause actual results to differ materially from results anticipated in the forward-looking statements. These factors include, but are not limited to: (i) HF Sinclair’s and our ability to successfully integrate the Sinclair Oil Corporation and Sinclair Transportation Company businesses acquired from REH Company (formerly known as The Sinclair Companies, referred to herein as “Sinclair”) (collectively, the “Sinclair Transactions”) with their existing operations and fully realize the expected synergies of the Sinclair Transactions or on the expected timeline; (ii) risks relating to the value of our limited partner common units issued at the closing of the Sinclair Transactions from sales by the Sinclair holders following the closing of the Sinclair Transactions; (iii) the demand for and supply of crude oil and refined products, including uncertainty regarding the effects of the continuing COVID-19 pandemic on future demand and increasing societal expectations that companies address climate change; (iv) risks and uncertainties with respect to the actual quantities of petroleum products and crude oil shipped on our pipelines and/or terminalled, stored or throughput in our terminals and refinery processing units; (v) the economic viability of HF Sinclair, 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; (vi) the demand for refined petroleum products in the markets we serve; (vii) our ability to purchase and integrate future acquired operations; (viii) our ability to complete previously announced or contemplated acquisitions; (ix) the availability and cost of additional debt and equity financing; (x) the possibility of temporary or permanent reductions in production or shutdowns at refineries utilizing our pipelines, 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; (xi) the effects of current and future government regulations and policies, including the effects of current and future restrictions on various commercial and economic activities in response to the COVID-19 pandemic; (xii) delay by government authorities in issuing permits necessary for our business or our capital projects; (xiii) our and our joint venture partners’ ability to complete and maintain operational efficiency in carrying out routine operations and capital construction projects; (xiv) the possibility of terrorist or cyberattacks and the consequences of any such attacks; (xv) uncertainty regarding the effects and duration of global hostilities and any associated military campaigns which may disrupt crude oil supplies and markets for refined products and create instability in the financial markets that could restrict our ability to raise capital; (xvi) general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States; (xvii) the impact of recent or proposed changes in the tax laws and regulations that affect master limited partnerships; and (xviii) other financial, operational and legal risks and uncertainties detailed from time to time in our filings with the U.S. Securities and Exchange Commission.
All forward-looking statements included in this press release and all subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Other factors described herein, or factors that are unknown or unpredictable, could also have a material adverse effect on future results. You should not put undue reliance on any forward-looking statements. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements set forth in the “Risk Factors” section in our Annual Report on Form 10-K for the year ended December 31, 2021. 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.
Craig Biery
Vice President, Investor Relations
or
Trey Schonter
Investor Relations
Holly Energy Partners, L.P.
214-954-6511
DUBLIN--(BUSINESS WIRE)--The "Global Solar Photovoltaic Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
This study assesses growth opportunities for the global solar PV market and uses proprietary modeling to estimate its revenue potential. The model uses estimated annual capacity additions based on countries' individual and regional targets for 2030 and other secondary resources.
Global concerns about climate change have spurred a flurry of investments in renewable energy sources and other decarbonization initiatives. The efforts to focus on renewables were initiated at the 2016 COP21 in Paris, which led to countries setting renewable energy targets to achieve by 2030 in an attempt to mitigate global warming.
More recently, at COP26, more than 100 countries pledged to cut methane emissions by 30.0% from 2020 levels, which would directly impact the energy sector, considering oil and gas is the main source of methane emissions, further spurring the transition to other renewable sources like solar photovoltaic (PV).
Solar PV is an advantageous option when comparing the various renewable sources available, being a low-investment, low-maintenance option characterized by the year-round abundance of the energy source and ease of accessibility as compared to wind, which needs sizeable resources including land and investment. Advancements in storage technologies have strengthened the case for PV, with variability in production has been a major source of concern in the past.
The study also presents PV market trends that will define the industry's growth, major players across the value chain (PV cells, modules, inverters, and O&M), and the competitive environment. Where applicable, market potential refers to the estimated revenue opportunity size between 2022 and 2030 that is available for interested stakeholders to capitalize on. Key countries in each region are profiled, detailing their market potential.
Key Issues Addressed
Key Topics Covered:
1. Strategic Imperatives
2. Growth Opportunity Analysis
3. Key Market and Technology Trends
4. Growth Opportunity Analysis, Solar PV Market, Europe
5. Growth Opportunity Analysis, Solar PV Market, North America
6. Growth Opportunity Analysis, Solar PV Market, Latin America
7. Growth Opportunity Analysis, Solar PV Market, APAC
8. Growth Opportunity Analysis, Solar PV Market, The Middle East
9. Growth Opportunity Analysis, Solar PV Market, Africa
10. Growth Opportunity Universe, Global Solar PV Market
Appendix
For more information about this report visit https://www.researchandmarkets.com/r/qtjqav
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) announced today the commencement of offers to exchange (collectively, the “Exchange Offers”) any and all validly tendered (and not validly withdrawn) and accepted notes of the seven series of notes described in the table below (collectively, the “Old Notes”) issued by Phillips 66 Partners LP (“PSXP”) for notes to be issued by Phillips 66 Company (“P66 Co”), a wholly owned subsidiary of Phillips 66, as described in the table below (collectively, the “New Notes”).
The New Notes will be fully and unconditionally guaranteed by Phillips 66. The New Notes will be unsecured and unsubordinated obligations of P66 Co and will rank equally with all other unsecured and unsubordinated indebtedness of P66 Co issued from time to time, and the guarantees will rank equally with all other unsecured and unsubordinated indebtedness of Phillips 66. Through the Exchange Offers, the holders of Old Notes issued by PSXP are being offered the opportunity to exchange their Old Notes for New Notes with the same interest rates and maturities in light of the recent acquisition of PSXP by Phillips 66.
The Exchange Offers are being conducted upon the terms and subject to the conditions set forth in a confidential offering memorandum and consent solicitation statement dated April 6, 2022 (the “Offering Memorandum”).
The Exchange Offers are only made, and the New Notes are only being offered and issued, (a) in the United States to holders of Old Notes who are “qualified institutional buyers” as defined in Rule 144A under the Securities Act of 1933 (the “Securities Act”), or (b) outside the United States to holders of Old Notes who (i) are persons other than U.S. persons in reliance upon Regulation S under the Securities Act, (ii) are not “EEA Retail Investors” or “UK Retail Investors” (each as defined in the Offering Memorandum) and (iii) in the case of persons located in the United Kingdom, are “Relevant Persons” (as defined in the Offering Memorandum). The holders of Old Notes who have certified to P66 Co that they are eligible to participate in the Exchange Offers pursuant to at least one of the foregoing conditions are referred to as “Eligible Holders.”
The following table sets forth the Old Notes that are subject to the Exchange Offers and the consideration to be offered to Eligible Holders of the Old Notes in the Exchange Offers:
Title of Series of Old Notes |
CUSIP/ISIN No. |
Aggregate
|
Title of Series
|
Exchange
|
Early
|
Total
|
||
New
|
New Notes
|
Cash |
New
|
Cash |
||||
2.450% Senior Notes
|
718549 AG3/
|
$300,000,000 |
2.450% Senior Notes due 2024 |
$ 970 |
$ 30 |
$ 1.00 |
$ 1,000 |
$ 1.00 |
3.605% Senior Notes
|
718549 AB4/
|
$500,000,000 |
3.605% Senior Notes due 2025 |
$ 970 |
$ 30 |
$ 1.00 |
$ 1,000 |
$ 1.00 |
3.550% Senior Notes
|
718549 AD0/
|
$500,000,000 |
3.550% Senior Notes due 2026 |
$ 970 |
$ 30 |
$ 1.00 |
$ 1,000 |
$ 1.00 |
3.750% Senior Notes
|
718549 AF5/
|
$500,000,000 |
3.750% Senior Notes due 2028 |
$ 970 |
$ 30 |
$ 1.00 |
$ 1,000 |
$ 1.00 |
3.150% Senior Notes
|
718549 AH1/
|
$600,000,000 |
3.150% Senior Notes due 2029 |
$ 970 |
$ 30 |
$ 1.00 |
$ 1,000 |
$ 1.00 |
4.680% Senior Notes
|
718549 AC2/
|
$450,000,000 |
4.680% Senior Notes due 2045 |
$ 970 |
$ 30 |
$ 1.00 |
$ 1,000 |
$ 1.00 |
4.900% Senior Notes
|
718549 AE8/
|
$625,000,000 |
4.900% Senior Notes due 2046 |
$ 970 |
$ 30 |
$ 1.00 |
$ 1,000 |
$ 1.00 |
(1) |
Consideration per $1,000 principal amount of Old Notes validly tendered (and not validly withdrawn) and accepted for exchange, subject to any rounding as described in the Offering Memorandum. Excludes accrued but unpaid interest. |
(2) |
The term “New Notes” in this column refers, in each case, to the series of New Notes corresponding to the series of Old Notes of like tenor and coupon. |
(3) |
Includes the Early Participation Premium (as defined below) for Old Notes validly tendered prior to the Early Participation Date described below and not validly withdrawn. |
In connection with the Exchange Offers, P66 Co is also soliciting consents (the “Consent Solicitations”) from holders of the Old Notes (on behalf of PSXP) to certain proposed amendments to the corresponding indenture and to supplemental indentures pursuant to which such Old Notes were issued (the “PSXP Indentures”), which amendments will modify or delete certain restrictive terms. If the proposed amendments become effective with respect to any series of Old Notes, the amendments will apply to all Old Notes of such series not tendered in the applicable Exchange Offer, even though the holders of those Old Notes did not consent to the proposed amendments.
The Exchange Offers and Consent Solicitations commenced on April 6, 2022, and will expire at 11:59 p.m., New York City time, on May 3, 2022, unless extended or earlier terminated (the “Expiration Date”). In exchange for each $1,000 principal amount of Old Notes that is validly tendered prior to 5:00 p.m., New York City time, on April 19, 2022, unless extended (such date and time, as it may be extended, the “Early Participation Date”), and not validly withdrawn, holders of such Old Notes will be eligible to receive the total consideration set out in the table above (the “Total Consideration”), which consists of $1,000 principal amount of the corresponding New Notes and a cash amount of $1.00. The Total Consideration includes an early participation premium set out in the table above (the “Early Participation Premium”), which consists of $30 principal amount of the corresponding series of New Notes per $1,000 principal amount of Old Notes and a cash amount of $1.00 per $1,000 principal amount of Old Notes. In exchange for each $1,000 principal amount of Old Notes that is validly tendered after the Early Participation Date but prior to the Expiration Date and not validly withdrawn, holders of such Old Notes will be eligible to receive only the exchange consideration set out in the table above (the “Exchange Consideration”). The consummation of each Exchange Offer is subject to, and conditional upon, the satisfaction or, where permitted, waiver of the conditions, including the Requisite Consent Condition (as defined in the Offering Memorandum), in the Offering Memorandum. P66 Co may, at its option, waive any such conditions. All conditions to the Exchange Offers, including the Requisite Consent Condition (as defined in the Offering Memorandum), must be satisfied or, where permitted, waived, at or by the Expiration Date.
Each New Note issued in exchange for an Old Note will have an interest rate, interest payment dates and maturity that are the same as the interest rate, the interest payment dates and maturity of the corresponding tendered Old Note, as well as substantively the same optional redemption provisions. No accrued but unpaid interest will be paid on the Old Notes in connection with the Exchange Offers. However, interest on the applicable New Note will accrue from and including the most recent interest payment date of the corresponding tendered Old Note.
The complete terms of the Exchange Offers and Consent Solicitations are described in the Offering Memorandum. The Offering Memorandum will only be made available to holders of Old Notes who certify that they are Eligible Holders. Eligible Holders may obtain copies of the Offering Memorandum by contacting D.F. King & Co., Inc., the exchange agent and information agent for the Exchange Offers and the Consent Solicitations, at (877) 783-5524 (U.S. toll free) or (212) 269-5550 (banks and brokers), by emailing This email address is being protected from spambots. You need JavaScript enabled to view it. or by visiting www.dfking.com/psx to complete the eligibility process. Holders of any Old Notes issued in certificated form and that are held of record by a custodian bank, depositary, broker, trust company or other nominee may also contact such record holder for assistance concerning the Exchange Offers.
The Exchange Offers and Consent Solicitations are being made pursuant to the terms and conditions set forth in the Offering Memorandum. Tenders of Old Notes in connection with any of the Exchange Offers may be withdrawn at any time prior to 5:00 p.m., New York City time, on April 19, 2022, unless extended (the “Withdrawal Deadline”), but may not be withdrawn at any time thereafter. Following the Withdrawal Deadline, tenders of Old Notes may not be validly withdrawn unless P66 Co is otherwise required by law to permit withdrawal. Consents to the proposed amendments may be revoked only by validly withdrawing the associated tendered Old Notes. A valid withdrawal of tendered Old Notes prior to the Withdrawal Deadline will be deemed to be a concurrent revocation of the related consent to the proposed amendments to the applicable PSXP Indentures, and a revocation of consent to the proposed amendments prior to the Withdrawal Deadline will be deemed to be a concurrent withdrawal of the related tendered Old Notes.
Subject to applicable law, each Exchange Offer and each Consent Solicitation is being made independently of the other Exchange Offers and Consent Solicitations, and P66 Co reserves the right to terminate, withdraw or amend each Exchange Offer and each Consent Solicitation independently of the other Exchange Offers and Consent Solicitations at any time and from time to time, as described in the Offering Memorandum.
The New Notes have not been registered under the Securities Act or any state securities laws. In connection with the issuance of the New Notes, P66 Co and Phillips 66 will enter into a registration rights agreement pursuant to which they will agree to exchange the New Notes for registered notes having substantially the same terms as the New Notes or, in certain circumstances, to register the resale of New Notes with the Securities and Exchange Commission. Until they are registered, the New Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.
Holders are advised to check with any bank, securities broker or other intermediary through which they hold Old Notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in the Exchange Offers before the deadlines specified herein and in the Offering Memorandum and eligibility certification. The deadlines set by each clearing system for the submission and withdrawal of exchange instructions will also be earlier than the relevant deadlines specified herein and in the Offering Memorandum and eligibility certification.
This press release is not an offer to sell or a solicitation of an offer to buy any of the securities described herein and is not a solicitation of the related consents. The Exchange Offers and Consent Solicitations are being made solely pursuant to the terms and conditions of the Offering Memorandum and the other related materials and only to such persons and in such jurisdictions as is permitted under applicable law. The Exchange Offers and Consent Solicitations are not being made in any state or jurisdiction in which such offers would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
In order to participate in any Exchange Offer and Consent Solicitation for Old Notes, holders of the Old Notes resident in Canada are required to complete, sign and submit to the exchange agent the related Canadian Certification Form. The New Notes may be sold only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the New Notes must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.
Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if the offering memorandum (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser’s province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser’s province or territory for particulars of these rights or consult with a legal advisor.
PROHIBITION OF SALES TO EEA RETAIL INVESTORS – The New Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended or superseded, the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129 (as amended or superseded, the “Prospectus Regulation”). Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended, the “PRIIPs Regulation”) for offering or selling the New Notes or otherwise making them available to retail investors in the European Economic Area has been prepared and therefore offering or selling the New Notes or otherwise making them available to any retail investor in the European Economic Area may be unlawful under the PRIIPs Regulation.
PROHIBITION OF SALES TO UK RETAIL INVESTORS – The New Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom (“UK”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the EUWA; (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (the “FSMA”) and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97 (as amended or superseded, the “Insurance Distribution Directive”), where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of the Prospectus Regulation as it forms part of domestic law by virtue of the EUWA (the “UK Prospectus Regulation”). Consequently no key information document required by the PRIIPs Regulation as it forms part of domestic law by virtue of the EUWA (the “UK PRIIPs Regulation”) for offering or selling the New Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the New Notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.
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. Headquartered in Houston, the company has 14,000 employees committed to safety and operating excellence. Phillips 66 had $56 billion of assets as of Dec. 31, 2021.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include statements regarding the offers of P66 Co to exchange, and intended offering of, New Notes. These forward-looking statements are subject to risks and uncertainties, including the risks disclosed in the Offering Memorandum and the filings of Phillips 66 with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2021.
Phillips 66
Jeff Dietert, 832-765-2297 (investors)
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Shannon Holy, 832-765-2297 (investors)
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Thaddeus Herrick, 855-841-2368 (media)
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PITTSBURGH--(BUSINESS WIRE)--Wabtec Corporation (NYSE: WAB) announced it will report 2022 first quarter results before the U.S. financial markets open on April 27, 2022. The company will conduct a conference call to discuss those results with analysts and investors at 8:30 a.m. ET the same day. To listen to the call via webcast, visit Wabtec’s website at www.WabtecCorp.com and click on “Events & Presentations” in the “Investor Relations” section. An audio replay of the call will be available by calling 1-877-344-7529 or 1-412-317-0088 (access code: 6929404).
About Wabtec Corporation
Wabtec Corporation is focused on creating transportation solutions that move and improve the world. The company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for over 150 years and has a vision to achieve a zero-emission rail system in the U.S. and worldwide.
Wabtec Investor Contact
Kristine Kubacki, CFA / This email address is being protected from spambots. You need JavaScript enabled to view it. / 412-450-2033
Wabtec Media Contact
Deia Campanelli / This email address is being protected from spambots. You need JavaScript enabled to view it. / 773-297-0482
PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation (NYSE: AA) today announced that its Massena facility in New York has earned provisional certification from the Aluminium Stewardship Initiative (ASI) for both its smelter and casthouse.
Massena is the world’s longest continuously operating smelter, with aluminum production beginning in 1902. During its long history of manufacturing excellence, the smelter has undergone numerous upgrades and currently has a nameplate capacity of 130,000 metric tons, all powered by renewable hydroelectricity.
“Earning certifications from ASI aligns with our vision to reinvent the aluminum industry for a sustainable future,” said John Slaven, Alcoa’s Executive Vice President and Chief Operations Officer. “This recognition for Massena is welcome news for the facility’s 120 years of continual production and the important work that our employees do there every day to consistently improve for the benefit of our customers, communities and the environment.”
The provisional ASI Performance Standard certification will bring Alcoa’s total number of facilities certified to ASI’s standards to 16 global sites. Also, Alcoa has earned ASI’s Chain of Custody certification, which allows the company to globally market and sell ASI-certified aluminum. The Performance Standard certifications and the Chain of Custody (CoC) certification align with two of Alcoa’s core sustainability objectives – improving the company’s operational footprint and enhancing the value of its products through differentiation.
The ASI Certification program is the most comprehensive in the industry, developed via a multi-stakeholder consultation process that defines robust environmental, social and governance (ESG) principles and criteria, including key issues such as biodiversity, rights for Indigenous Peoples, and greenhouse gas emissions.
“ASI congratulates Alcoa on Massena’s achievements for the aluminum sector and the historical industrial development it helped bring to the region,” said Fiona Solomon, Chief Executive Officer at ASI. “During its proud history, the facility has continued innovating to meet the challenges of a constantly changing sustainability landscape, and achieving Performance Standard Certification is a demonstration of this commitment.”
The provisional status is due to some criteria requiring an on-site evaluation by an ASI accredited auditor, a practice that complies with ASI’s updated bylaws related to the travel delays associated with the COVID-19 pandemic.
About Alcoa Corp.
Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. With a values-based approach that encompasses integrity, operating excellence, care for people and courageous leadership, our purpose is to Turn Raw Potential into Real Progress. Since developing the process that made aluminum an affordable and vital part of modern life, our talented Alcoans have developed breakthrough innovations and best practices that have led to greater efficiency, safety, sustainability and stronger communities wherever we operate.
Dissemination of Company Information
Alcoa Corporation intends to make future announcements regarding company developments and financial performance through its website at www.alcoa.com, as well as through press releases, filings with the Securities and Exchange Commission, conference calls and webcasts.
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412-992-5450
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Dr. SSV Ramakumar of IndianOil, Dr. Kaustav Sinha of Chevron Oronite, Steve Puckett of TRI-ZEN and Lubrizol’s Evogen 4006 to be recognised for industry contributions during F+L Week 2022 in Bangkok, Thailand
HONG KONG--(BUSINESS WIRE)--#FnLWeek2022--The F&L Asia Awards showcase and celebrate the outstanding contributions and exceptional performance of those working in the fuels and lubricants industry in Asia. After a brief hiatus in 2020 and 2021, due to the impacts of Covid-19, we are excited to confirm the return of these prestigious honours and to announce the award winners for 2022. Recipients will be acknowledged at the F&L Asia Awards Dinner on 28 April at the Siam Anantara Bangkok, during the F+L Week Live! event in Bangkok, Thailand.
Dr. SSV Ramakumar from IndianOil is the “2022 F&L Asia Person of the Year”. Dr. Ramakumar is director, R&D and planning & business development, on the Board of Indian Oil Corporation Ltd. (IndianOil), a Fortune 500 company. He has a long and celebrated career at IndianOil with more than three decades of uninterrupted experience in the downstream hydrocarbons sector, notably in the areas of lubricant technology, refinery process research and catalyst development.
The “F&L Asia Person of the Year” recognises an individual's outstanding contribution to the fuels and lubricants industry in Asia, whether from the oil, additives, automotive, or other stakeholder industry.
Dr. Ramakumar has been instrumental in the development of India’s home-grown, OEM-approved marine lubricant technology, which catapulted IndianOil’s SERVO lubricants into the select league of five MNCs, and has spearheaded the complete indigenisation of IndianOil’s flagship INDMAX refining technology. Dr. Ramakumar was chosen for this prominent industry award for his pioneering work in alternative energy programmes including waste-to-energy, bio, solar and energy storage. He is steering the IndianOil hydrogen endeavours and is on several committees working on defining the strategies for the inclusion of hydrogen in the energy mix.
The “F&L Asia Future Leaders Award” for 2022 goes to Dr. Kaustav Sinha. This award recognises our industry’s emerging leaders, with nominees including individuals with up to 15 years of industry experience. Kaustav graduated from the University of Pune in Maharashtra, India in 2002 with a Bachelor of Engineering degree in Instrumentation and Control Engineering. He then obtained his PhD in Materials Science and Engineering from the University of Nevada, Reno in 2008. In 2019, he obtained an MBA from The University of Chicago Booth School of Business.
Kaustav is currently manager, global strategic account, and is responsible for managing people, P&L, strategy, business development and operations of one of Chevron Oronite’s largest customer portfolios. Before this, he was leading Chevron Oronite’s North American sales portfolio where he played a vital role in growing the regional business and developed a growth portfolio with a multi-million-dollar opportunity pipeline.
Kaustav has actively participated in several industry advocacy positions where he worked closely with industry groups, energy companies and OEMs to develop new specifications and build strategic partnerships. His work in smart materials, automotive tribology and lubricants was extensively presented at 40+ leading conferences and published in over 20 journal articles, proprietary technical reports, and patent applications.
A strong advocate of women and minorities, Kaustav volunteers in science, technology, engineering, and business events that support their cause. He is on Chevron’s founding enterprise leadership team of Elevate, an in-house diversity and inclusive program, and regularly engages in diversity, inclusion and mentoring initiatives.
Steve Puckett, OBE, is a business leader and independent director with extensive experience in growing businesses in Asia. Over the past 40 years, Steve has forged an impressive career in the energy industry. Originally with ExxonMobil, he held senior executive positions in Asia including in Japan, Hong Kong, China and Singapore. For the past 22 years, Steve has been consulting to clients that have included major international and national oil companies, blue-chip financial institutions, global professional services organisations and government authorities. He is executive chairman of TRI-ZEN International Pte Ltd, an advisory business with a primary focus on strategy, business development, and M&A for the energy industries in Asia.
We are excited to be able to recognise Steve’s long-term commitment to the industry with the 2022 “F&L Asia Lifetime Achievement Award”. Steve is the recognised expert on the wider Asia business environment, having developed numerous businesses and projects across the region, ranging from billion-dollar country entries for international corporates to entrepreneurial start-ups. Steve is also the co-founding director of the Asian Lubricants Industry Association (ALIA), the industry body representing Asia’s lubricants value chain, and has been instrumental in enabling ALIA to withstand the challenges presented by Covid-19 at a time when most member companies were focused on their survival. Steve was instrumental in drafting the ALIA Sustainability Statement and in influencing the ALIA Council to make sustainability a key focus for the fledgling organisation.
The “F&L Asia Product Development of the Year” award recognises innovation in the fuels and lubricants industry, in particular, products that have made significant improvements to processes, efficiency and ecological use. We are pleased to announce that the 2022 recipient is Evogen 4006 from the Lubrizol Corporation.
The global passenger vehicle market has seen a rapid increase in the number of electric and hybrid electric vehicles, however, existing lubricants are not optimised to provide the efficiency and requisite protection of e-devices. Lubrizol launched the Evogen 4001 additive technology in 2019 to address the tougher e-environment. At the time of commercialisation, the product was the first dedicated e-axle fluid available around the world. Original equipment manufacturers have their own unique electric motor design, thus requiring a specific lubricant for their electric motors to fit their needs for better performance. Thus, in 2020, Lubrizol developed Evogen 4006 for a Chinese OEM using a wet electric motor.
Evogen 4006 improves copper corrosion protection and enhances electric properties while maintaining excellent gear/bearing protection compared to conventional manual transmission fluids (MTF). Lubrizol has carefully balanced the anti-wear and extreme pressure chemistry to achieve an ideal equilibrium of load carrying, copper corrosion protection and electrical conductivity. These have been rigorously evaluated in conventional lubricant tests as well as new tests better suited to the new environment, such as the copper wire corrosion test. The additive package also offers improved oxidative stability and potential for efficiency gains by enabling durability at low viscosity. Lubrizol also anticipates a 39.2% reduction in carbon dioxide emissions compared with conventional MTFs.
F+L Week 2022 will be held from April 27-29 at the Siam Anantara Bangkok in Thailand. Virtual registration (live streaming and on-demand) is also available through our powerful networking platform, which will be launched on April 15.
To view the F+L Week 2022 event schedule, click here. F+L Week 2022 is now a hybrid event, so you can attend the event physically or virtually. To register for this event or to attend the F&L Asia Awards Dinner only, click here. The event includes two training workshops, one on electric vehicle fluids and another on sustainable metalworking fluids. To register for the training workshops, either live or virtual, click here. For inquiries, please contact us at This email address is being protected from spambots. You need JavaScript enabled to view it..
ABOUT F+L WEEK
F+L Week, the annual event for the fuels and lubricants industry, has become an institution since its founding in 1995. F+L Week 2022 will return in April and it will be co-located with the ALIA Annual Meeting. F+L Week will be held from April 27-29, 2022 at the fabulous Siam Anantara Bangkok, the former Four Seasons Bangkok.
The conference theme is "Disruption & Transformation in the Fuels & Lubes Industry." We all know the strong synergy between fuels and lubricants. F+L Week 2022 will provide insight into the technical challenges and opportunities that come with these synergies, as well as future technology and market developments.
The F+L Week 2022 Conference & Exhibition starts on April 27 with a dedicated networking day for customers and suppliers to connect over coffee, tea, lunch and evening cocktails. Participants can pre-book their appointments via our powerful digital app. In addition, Thailand further loosened its entry requirements on March 1. Click to view Thailand's latest Test and Go program.
Vicky Villena-Denton
F&L Asia Ltd.
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Wanchai, Hong Kong
Phone (Hong Kong): +852 3183 4143
DUBLIN--(BUSINESS WIRE)--The "Worldwide Carbon Fiber in Wind Turbine Rotor Blade Industry" report has been added to ResearchAndMarkets.com's offering.
The global Carbon Fiber in Wind Turbine Rotor Blade market held a market value of USD 3,440.8 Million in 2021 and is projected to reach USD 12,172.6 Million by the year 2030 at a growth rate of 15.37% from 2022 to 2030.
Companies Mentioned
Carbon fiber has various benefits in reduction of wind turbine blade mass due to its enhanced properties of strength and stiffness, as compared to the fiberglass. The market is expected to be driven by the increase in wind turbine capacity, rising focus wind energy, and growing environmental concerns & need for reduction of carbon footprint is also estimated to fuel the market growth. Despite the driving factors, high costs of rotor blades are anticipated to hinder the market growth.
Growth Influencers:
Increase in wind turbine capacity
The growing wind turbine capacity is increasing the number of wind turbines, hence increasing the demand for carbon fibers for wind turbine rotor blades. According to the U.S. Energy Information Administration, the average homes in the United States use around 867 kilowatt-hours (kWh) every month. Also, the mean turbine capacity in the USWTDB is around 1.67 megawatts (MW). Hence, increase in the wind turbine capacity is driving the market growth over the projected period.
Rising focus wind energy
Use of wind energy in wind turbines for generation of electricity through kinetic energy usage. It is one of the fastest growing renewable energy technologies. Furthermore, the capacity of wind power has significantly grown over the world. It has also become the most efficient, affordable, and powerful producers through the last decade. Hence, the rising focus wind energy is also anticipated to fuel the market growth over the projected period.
Pros and Cons of Fiber Glass and Carbon Fiber
Pros of fiberglass include that it last a long time and can be coloured, dull, or shiny. Also, the material is low maintenance, fire resistant, weatherproof, anti-magnetic, and a good electrical insulator. Cons of fiberglass include that it requires to be re-gel coated every five years and can also lead to airborne fibres, which might create problems for asthma sufferers. On the other hand, carbon fiber is lightweight and is usually stronger as compared to steel or aluminium. However, the material is comparatively costly as it is more technology and labour intensive.
The global Carbon Fiber in Wind Turbine Rotor Blade market report answers questions such as:
Key Topics Covered:
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Global Carbon Fiber in Wind Turbine Rotor Blade Market
Chapter 4. Global Carbon Fiber in Wind Turbine Rotor Blade Market Overview
Chapter 5. Carbon Fiber in Wind Turbine Rotor Blade Market Analysis, By Type
Chapter 6. Carbon Fiber in Wind Turbine Rotor Blade Market Analysis, By Blade Size
Chapter 7. Carbon Fiber in Wind Turbine Rotor Blade Market Analysis, By Application
Chapter 8. Carbon Fiber in Wind Turbine Rotor Blade Market Analysis, By Region
Chapter 9. North America Carbon Fiber in Wind Turbine Rotor Blade Market Analysis
Chapter 10. Europe Carbon Fiber in Wind Turbine Rotor Blade Market Analysis
Chapter 11. Asia Pacific Carbon Fiber in Wind Turbine Rotor Blade Market Analysis
Chapter 12. Middle East and Africa Carbon Fiber in Wind Turbine Rotor Blade Market Analysis
Chapter 13. South America Carbon Fiber in Wind Turbine Rotor Blade Market Analysis
Chapter 14. Japan Carbon Fiber in Wind Turbine Rotor Blade Market Analysis
Chapter 15. Company Profile
For more information about this report visit https://www.researchandmarkets.com/r/11fsmy
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For U.S./CAN Toll Free Call 1-800-526-8630
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EPIC Crude delivering record volumes of 500,000 barrels per day
HOUSTON--(BUSINESS WIRE)--EPIC Crude Holdings, LP (“EPIC Crude” or “the Company”) continues to ship record crude volumes of 500,000 barrels per day during 2022. EPIC Crude provides shippers access to the premium Corpus Christi market including EPIC Crude’s export facility as well as local refineries and other export docks. The overall quality of crude being transported continues to differentiate EPIC Crude from other transport providers.
“This has been a great start to the year for EPIC Crude," said Brian Freed, Chief Executive Officer of EPIC. "Our crude volume throughput proves EPIC’s strategic importance for customers to provide safe and reliable crude oil transport out of the Delaware, Midland and Eagle Ford basins into the Corpus Christi market. We have strategically positioned ourselves to take advantage of the growth we are seeing in the Permian basin and the Corpus Christi premium export markets.”
About EPIC Crude Holdings, LP
EPIC Crude Holdings, LP (“EPIC Crude”) was formed in 2017 to build and operate the EPIC Crude Oil Pipeline, a 700-mile, 30” crude oil pipeline that extends from Orla, Texas to the Port of Corpus Christi and services the Delaware, Midland and Eagle Ford basins. The Crude Oil Pipeline is currently operating at a capacity of 600,000 barrels per day (bpd), as well as total operational storage of approximately 7,500,000 million barrels. The project includes terminals in Orla, Pecos, Crane, Wink, Midland, Hobson and Gardendale, with connectivity to the Port of Corpus Christi, including the EPIC Marine Terminal, third-party export terminals and local refineries. EPIC Crude is backed by capital commitments from funds managed by the Private Equity Group of Ares Management Corporation (NYSE: ARES) as well as additional equity ownership by Chevron Corporation (NYSE: CVX), Kinetik (NASDAQ: KNTK) and Rattler Midstream LP (NASDAQ: RTLR). For more information, visit www.epicmid.com.
EPIC Midstream Holdings, LP
David McArthur
Corporate Communications Director
(210) 446-1059
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CHICAGO--(BUSINESS WIRE)--GATX Corporation (NYSE:GATX) will report results for the 2022 first quarter prior to market open on April 20, 2022. GATX will hold a conference call to review the results later that morning. Investors may listen to the call via telephone or over the internet as follows:
Live Teleconference |
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April 20, 2022 |
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Time: |
11 a.m. (Eastern Time) |
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Domestic Dial-In: |
1-800-289-0720 |
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International Dial-In: |
1-323-701-0160 |
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Live Webcast: |
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To participate by phone, please dial in approximately 15 minutes prior to the start time and reference the GATX conference call. To listen via webcast, click the link on GATX’s homepage, www.gatx.com.
Replay Information |
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Time: |
Starting at 2 p.m. (Eastern Time), April 20, 2022 |
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Domestic Dial-In: |
1-888-203-1112 |
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International Dial-In: |
1-719-457-0820 |
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Access Code: |
4973176 |
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Web Access: |
The replay will also be available at www.gatx.com |
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COMPANY DESCRIPTION
At GATX Corporation (NYSE:GATX), we empower our customers to propel the world forward. GATX leases transportation assets including railcars, aircraft spare engines and tank containers to customers worldwide. Our mission is to provide innovative, unparalleled service that enables our customers to transport what matters safely and sustainably, while championing the well-being of our employees and communities. GATX has been headquartered in Chicago, Illinois since its founding in 1898.
AVAILABILITY OF INFORMATION ON GATX'S WEBSITE
Investors and others should note that GATX routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the GATX Investor Relations website. While not all of the information that the Company posts to the GATX Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in GATX to review the information that it shares on www.gatx.com under the “Investor Relations” tab.
Shari Hellerman
Director, Investor Relations
GATX Corporation
312-621-4285
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DUBLIN--(BUSINESS WIRE)--The "Biodiesel Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The market for biodiesel is expected to grow at a CAGR of more than 7.98% during the forecast period of 2022-2027.
Companies Mentioned
Key Market Trends
Transportation Segment Expected to Dominate the Market
Asia-Pacific to Witness Significant Growth
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Feedstock
5.1.1 Vegetable Oil
5.1.2 Animal Fat
5.1.3 Others
5.2 Application
5.2.1 Transportation
5.2.2 Power Generation
5.2.3 Others
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/t29fgr
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
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For GMT Office Hours Call +353-1-416-8900
TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX: SPB) is pleased to announce the successful closing of its previously announced bought deal equity offering of 25,670,300 common shares (“Shares”) at a price of $11.20 per Share (the “Offering Price”), for aggregate gross proceeds of approximately $288 million (the “Offering”). The Offering included 3,348,300 Shares issued pursuant to the exercise in full by the underwriters of their over-allotment option.
The Offering was sold on a bought deal basis to a syndicate of underwriters bookrun by CIBC Capital Markets, and including National Bank Financial Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Desjardins Securities Inc., Canaccord Genuity Corp., Raymond James Ltd., ATB Capital Markets Inc., Cormark Securities Inc. and iA Private Wealth Inc. Brookfield, one of Superior’s largest investors, participated as an anchor investor in the Offering and purchased approximately $75 million in Shares at the Offering Price through its Special Investments program.
The Offering was made under Superior’s short form base shelf prospectus dated May 25, 2021. The terms of the Offering are described in a prospectus supplement dated March 30, 2022, which was filed with securities regulators in each of the provinces and territories of Canada.
Superior intends to use the net proceeds of the Offering to reduce existing indebtedness and for general corporate purposes, including to fund future acquisitions.
This press release is not an offer of the securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act of 1933, as amended and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About the Corporation
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 890,000 customer locations in the U.S. and Canada.
For further information about Superior, please visit our website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Capital Markets, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).
Forward Looking Information
This news release contains certain forward-looking information and statements that are based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “approximately,” “anticipated,” “will,” “intends,” and similar expressions. In particular, this news release contains forward-looking statements with respect to the use of the net proceeds of the Offering.
Forward-looking information is not a guarantee of future performance. By its very nature, forward-looking information involves inherent assumptions, risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking information will not be achieved, including risks relating to the operating and financial performance of the Energy Distribution business which are described in Superior’s management’s discussion and analysis for the year ended December 31, 2021 and in Superior’s annual information form for the fiscal year ended December 31, 2021. Key assumptions or risk factors to the forward-looking information include, but are not limited to, the rate and size of future acquisitions, financial market conditions, Superior’s future debt levels, Superior’s ability to generate sufficient cash flows from operations to meet its current and future obligations, access to, and terms of, future sources of funding for Superior’s capital expenditures and acquisitions, the integration of businesses into Superior’s operations, competitive action by other companies, availability and timing of acquisition targets, actions by governmental authorities including increases in taxes and changes in environmental and other regulations, general economic, market and business conditions, accuracy of and ability to realize estimated synergies, timing to achieve synergies and the regulatory framework that governs the operations of Superior’s business and industry capacity. Should one or more of these risks and uncertainties materialize, or should assumptions described above prove incorrect, Superior’s actual performance and results in future periods may differ materially from any projections of future performance or results expressed or implied by such forward-looking information. We caution readers not to place undue reliance on this information as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking information.
Forward-looking information contained in this news release is provided for the purpose of providing information about management’s goals, plans and range of expectations for the future and may not be appropriate for other purposes. Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Beth Summers
Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
Rob Dorran
Vice President, Capital Markets
Tel: (416) 340-6003
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Toll Free: 1-866-490-PLUS (7587)
Five building and e-mobility companies will receive non-dilutive funding to demonstrate their technologies with commercial partners
DENVER--(BUSINESS WIRE)--Today the Wells Fargo Innovation Incubator (IN2), a technology incubator and platform funded by the Wells Fargo Foundation and co-administered by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), announced the program’s first cohort focused on demonstration projects. The tenth IN2 cohort consists of five companies ready to demonstrate building and mobility technologies with industry partners across the country, proving out their economic viability, low carbon capabilities, and positive social impacts.
“Once startups have spent the time to get over the first valley of death developing, testing and validating their technology, they are quickly faced with the next valley – getting that first customer to raise their hand and take a chance on something new,” said Trish Cozart, IN2 program manager at NREL. “The demonstration cohort brings together impactful clean technologies, real world partners, and third-party NREL experts to walk alongside both parties to help catalyze the success of the project as they prove out the tech for scale.”
The selected companies will receive up to $250,000 in non-dilutive funding to support infrastructure for the project as well as technical guidance from the world-class researchers at NREL, who will help prepare, validate, or analyze the demonstration projects. They will also benefit from a robust IN2 cleantech ecosystem that includes industry experts, investors, and a nationwide Channel Partner network of more than 60 cleantech incubators, accelerators, and university programs.
“Accelerating clean-technology innovation and commercialization is essential to align the economy with the goals of the Paris Agreement,” said Robyn Luhning, Chief Sustainability Officer at Wells Fargo. “By pairing promising clean technologies with companies and community organizations, startups can demonstrate their value to a potential customer and the industry. Validating these potentially game-changing, low-carbon solutions can accelerate their entry to the marketplace and speed the decarbonization of the global economy.”
Originally nominated by program Channel Partners, the selected companies underwent an in-depth selection process by Wells Fargo, NREL and IN2’s expert industry advisory board. The selected companies and their respective commercial partners will collaborate on the following demonstration projects:
With the addition of these five companies, IN2’s total portfolio now includes 61 startups. Since joining the IN2 program, portfolio companies have raised $1.1 billion in external follow-on funding—equivalent to an average of more than $81 for every $1 awarded by Wells Fargo through IN2.
About the Wells Fargo Innovation Incubator (IN2)
The Wells Fargo Innovation Incubator (IN2) is a $50 million technology incubator and platform funded by the Wells Fargo Foundation. Co-administered by and housed at the National Renewable Energy Laboratory (NREL) in Golden, Colorado, IN2’s mission is to speed the path to market for early-stage, clean-technology entrepreneurs. Launched in 2014 with an initial focus on supporting scalable solutions to reduce the energy impact of commercial buildings, IN2 has since expanded its focus to advance technologies that address the sustainable production of agriculture and housing affordability. For more information, visit in2ecosystem.com.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.
Media
Wells Fargo Media
E.J. Bernacki, 415-823-3523
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IN² Media
Carlos Villacis
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Capture hard to reach data and make it easy to aggregate, automate and analyze
AUSTIN, Texas--(BUSINESS WIRE)--Today HUVRdata, Inc. (HUVR) welcomes Luftronix, a New Jersey based industrial inspection company with an autonomous high-precision scanning solution using drones, to the HUVR Partner Network (HPN).
“We make it easy to manage complex inspection data—just like Luftronix makes it easy to conduct inspections in complex environments,” said Ben Schmul, VP product management at HUVR. “Both of our companies are in the business of transforming how industrial asset owners ensure reliability, compliance and operational excellence, so a partnership made perfect sense.”
The partnership between HUVR and Luftronix makes drone inspections even safer, faster and easier than they already were. With Luftronix’s precision navigation technology, drones can be flown in extremely tight, confined spaces at the push of a button, and high fidelity, repeatable data can be collected. Then, by seamlessly integrating the Luftronix-collected data into the HUVR IDMS platform, reports, findings and repair projects are automatically created. This seamless flow from data capture to remediation will increase the reliability and efficiency of any asset being inspected.
Drones are rapidly becoming the preferred inspection tool compared to scaffolding, rope access, and confined space entry. In fact, drones are estimated to have saved $1.1 billion in inspection costs to offshore rigs and oil refineries. As more and more companies leverage drone technology, savings—both tangible and intangible—will continue to increase. In fact, a new Barclays report estimates that over the next 5 years drones will save the oil and gas industry $50 billion. This massive growth also brings increasing complexity with both flight and data management as new assets are inspected in new ways. Fortunately, both HUVR and Luftronix have seen their customers thrive by adopting specialized drones and software to meet the ever-increasing complexities.
For the foreseeable future, it is unlikely that any piece of technology will complete 100% of an asset inspection. But new robotic inspection tools will collect data at higher fidelity than previous generations and will offer better comparative results over time given the standardization they bring. However, the data collection tools only solve a part of the challenge—it’s what to do with all the new types of data, often existing in new formats and located in new silos. To aggregate, automate and analyze the data from inspection tools—as well as from existing checklist information—companies require an inspection data management software (IDMS) platform which must either be created out of whole cloth or integrated into current systems, using valuable time and IT resources.
As a result, the availability of a holistic, easy-to-use, purpose-built platform that rolls out seamlessly, efficiently and quickly is game-changing for asset owners. They require an IDMS platform that both supports new tools and enables the integration of a variety of apps to carry out the AI-supported evaluation of the collected data.
“We are offering a solution that will inspect 100% of an asset with the push of a button, delivering localized and repeatable visual data,” said Klaus Sonnenleiter, CEO of Luftronix. “But we needed a software platform to house and analyze the data so that our customers can easily and consistently act on the findings. The HUVR IDMS platform is exactly what we were looking for.”
Since 2016, HUVRdata has transformed the way industrial equipment owners and inspection companies manage and perform inspections, enabling immediate ROI and improved production KPIs. By partnering with HUVRdata—whose platform can merge data from any source—Luftronix can inject data and insights into a customer’s HUVR system, allowing clients to more efficiently plan, manage, collect data and generate findings from drone inspections.
About Luftronix
Safe and reliable drone operations with Luftronix Fused Flow™ precision navigation technology. Luftronix inspection stations conduct autonomous visual inspections while allowing any object (aircraft; drilling rig; inside/outside of storage tank, pressure vessel, and chimney; pipe racks; and other tight and confined spaces) to be measured on-screen. Automating the inspections with Luftronix technology reduces workplace hazards and the cost of inspections - while increasing the accuracy and auditability of the results. UAVs with Luftronix enabled software can fly in GPS-denied and spoofed environments. Find more information at https://luftronix.com/
About HUVRdata
HUVRdata is the first purpose-built Inspection Data Management Software Platform. Created in the cloud, the mobile-connected HUVR Platform enables the aggregation, analysis, and automation of visual and quantitative inspection data from any device, sensor, robot, or field technician. The largest energy producers and the most specialized inspection service providers have realized immediate ROI using HUVR to plan inspections, manage work, ingest data, assess findings and generate analytical reports – from any workflow. Industrial asset owners finally have a simple and easy way to visualize infrastructure health, ensuring compliance, reliability, and operational excellence. For more information visit https://www.huvrdata.com/
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