Nilsen will be the first woman to lead the New York companies

BINGHAMTON, N.Y.--(BUSINESS WIRE)--Today, New York State Electric & Gas (NYSEG) and Rochester Gas and Electric (RG&E), subsidiaries of AVANGRID, Inc. (NYSE: AGR), announced the appointment of Patricia Nilsen as President and Chief Executive Officer effective July 1, 2022. Nilsen, who has been with the companies since 1992, will be the first woman in the companies’ nearly 175-year histories to serve in this leadership position. She succeeds Carl Taylor who, as previously announced, will retire on June 30, 2022.

“This appointment marks an incredible moment for AVANGRID as we continue to break the glass ceiling and welcome Trish as the first woman President and CEO of NYSEG and RG&E,” said Pedro Azagra, CEO of AVANGRID. “Trish has proven throughout her career that she’s a leader focused on delivering great outcomes for our customers and communities. Trish joins a strong team at AVANGRID, with Catherin Stempien, our President and CEO of Networks, that will successfully guide the New York companies as we continue to invest in a more resilient, sustainable and smart system that will reliably serve our customers for generations to come.”

Ignacio Galán, Chairman of AVANGRID said “I congratulate Trish on the historical occasion of her appointment and welcome her to a leadership team whose diversity far outpaces that of many other U.S. utility companies.”

As President and CEO, Nilsen will oversee and lead the NYSEG and RG&E teams who serve more than 1.2 million electric and 579,000 natural gas customers across more than 40% of Upstate New York.

Nilsen brings to the role almost three decades of experience in the energy sector and a deep familiarity of NYSEG, RG&E and the communities they serve. She began with NYSEG in Human Resources before moving to Corporate Communications and Customer Service and has served in a number of high-profile leadership roles throughout her tenure, including leading emergency preparedness response for the companies. She most recently was Vice President of Reliability Assistance and Emergency Preparedness for AVANGRID and was responsible for compliance with NERC reliability standards, ensuring emergency readiness and response and serving as the COVID business liaison officer for Avangrid Networks. Prior, Nilsen served as Director of Emergency Preparedness where she led crisis response to system emergencies across all eight of AVANGRID’s electric and natural gas companies.

“It is an honor to lead the companies that I’ve dedicated my career to,” said Nilsen. “Since my first day on the job, I’ve always felt privileged to serve my community as a member of a dedicated AVANGRID team. We have an extraordinary responsibility here at NYSEG and RG&E to ensure we’re delivering safe and reliable electric and natural gas service to our customers and to work collaboratively with state and local officials and emergency responders. I take that responsibility seriously, and I look forward to furthering our commitment to our customers, communities and stakeholders.”

Nilsen holds a master’s degree in English from Syracuse University, a master’s degree in adult education from Elmira College and a bachelor’s degree in English and Fine Arts from Alfred University. She lives in Binghamton with her family and will report to Stempien.

About NYSEG: New York State Electric & Gas Corporation (NYSEG) is a subsidiary of AVANGRID, Inc. Established in 1852, NYSEG operates approximately 35,000 miles of electric distribution lines and 4,500 miles of electric transmission lines across more than 40% of upstate New York. It also operates more than 8,150 miles of natural gas distribution pipelines and 20 miles of gas transmission pipelines. It serves approximately 894,000 electricity customers and 266,000 natural gas customers. For more information, visit www.nyseg.com.

About RG&E: Rochester Gas and Electric Corporation (RG&E) is a subsidiary of AVANGRID, Inc. Established in 1848, RG&E operates approximately 8,800 miles of electric distribution lines and 1,100 miles of electric transmission lines. It also operates approximately 10,600 miles of natural gas distribution pipelines and 105 miles of gas transmission pipelines. It serves approximately 378,500 electricity customers and 313,000 natural gas customers in a nine-county region in New York surrounding the City of Rochester. For more information, visit www.rge.com.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.

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TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE:NGL) (“NGL,” “our,” “we,” or the “Partnership”) today reported its fourth quarter and full year fiscal 2022 results. The Partnership reported a loss from continuing operations of $29.4 million for the quarter ended March 31, 2022 and $184.1 million for its full fiscal year 2022.

Highlights for the quarter and fiscal year ended March 31, 2022 include:

• Produced water volumes processed of approximately 1.93 million barrels per day during the quarter ended March 31, 2022, growing 37.7% from the same period in the prior year and 4.7% versus the preceding fiscal quarter
• Water Solutions Adjusted EBITDA¹ of $342 million, an increase of $100.5 million, or 42%, year-over-year
• Adjusted EBITDA¹ from continuing operations for the fourth quarter of Fiscal 2022 of $157.4 million compared to $94.3 million for the fourth quarter of Fiscal 2021
• Fiscal Year 2022 Adjusted EBITDA¹ from continuing operations of $542.5 million compared to $448.3 million in the prior year
• Announced a new long-term produced water transportation, recycling and disposal agreement with a leading investment grade independent producer. The new dedicated agreement spans an area of over 300,000 acres in New Mexico and Texas, bringing our total dedicated acreage portfolio in the Delaware Basin to over 660,000 acres.

“The Partnership had a strong finish to its Fiscal 2022 and continues to see positive momentum as we move into our 2023 fiscal year. Produced water volumes approximated 2.1 million barrels per day in April, 2.2 million barrels per day in May and are expected to exceed this level for the remainder of Fiscal 2023. We achieved our first $90 million Adjusted EBITDA¹ quarter in Water Solutions segment and anticipate Adjusted EBITDA¹ for the Water Solutions segment of over $400 million for the upcoming fiscal year, assuming current producer activity levels and commodity prices. This is an increase of $15 million from our previous guidance of $385 million. We have worked incredibly hard over the past few years to build the premier water solutions asset position in the best basin in the country and we are beginning to realize the benefit of those efforts,” stated Mike Krimbill, NGL’s CEO. “The Partnership expects total Adjusted EBITDA¹ of at least $600 million and capital expenditures of approximately $100 million for Fiscal 2023. Assuming stable commodity prices, we expect the resulting free cash flow to total approximately $280 million, which we plan to use to repay our Senior Notes due 2023. We will update the market on our progress towards these goals as the year goes on,” Krimbill concluded.

____________________________

Quarterly Results of Operations

The following table summarizes operating income (loss) and Adjusted EBITDA¹ from continuing operations by reportable segment for the periods indicated:

Water Solutions

Operating income for the Water Solutions segment increased $113.9 million for the quarter ended March 31, 2022, compared to the quarter ended March 31, 2021. The Partnership processed approximately 1.93 million barrels of water per day during the quarter ended March 31, 2022, a 37.7% increase when compared to approximately 1.40 million barrels of water per day processed during the quarter ended March 31, 2021. This increase was due to higher production volumes (and associated produced water) primarily in the Delaware Basin driven by the recovery in crude oil prices from the prior year. The Partnership also sold approximately 146,000 barrels per day of produced and recycled water for use in our customers’ completion activities.

Revenues from recovered crude oil, including the impact from realized skim oil hedges, totaled $26.4 million for the quarter ended March 31, 2022, an increase of $14.3 million from the prior year period. This increase was due to increased skim oil barrels sold due to higher produced water volumes processed as well as higher realized crude oil prices received from the sale of skim oil barrels.

Operating expenses in the Water Solutions segment decreased to $0.28 per produced barrel processed compared to $0.29 per barrel in the comparative quarter last year primarily due to continued efforts to manage operating costs per barrel along with higher produced water volumes processed. Two of the Water Solutions segment’s largest variable expenses, utility and royalty expenses, were not (and are not expected to be) impacted by the rise in inflation due to negotiating long-term utility contracts with fixed rates and royalty contracts with no escalation clauses.

Crude Oil Logistics

Operating income for the fourth quarter of Fiscal 2022 increased slightly compared to the same quarter in Fiscal 2021. Our margins continued to benefit from high crude oil prices, which increase contracted rates with certain producers, and realized gains on the sale of inventory due to rapidly increasing crude oil prices. This was offset by our losses from derivatives which increased by $33 million for the quarter ended March 31, 2022, compared to the quarter ended March 31, 2021, a portion of which is expected to be realized in Adjusted EBITDA¹ during the quarter ending June 30, 2022.

During the three months ended March 31, 2022, physical volumes on the Grand Mesa Pipeline averaged approximately 74,000 barrels per day, compared to approximately 66,000 barrels per day for the three months ended March 31, 2021. This increase was due primarily to the new supply agreement with a term customer, which commenced in March 2021.

As a part of continued efforts to optimize the Partnership’s asset portfolio, we sold certain of our crude trucking assets during the quarter, which generated a $5.5 million gain on the sale of assets.

Liquids Logistics

Operating income for the Liquids Logistics segment decreased $8.8 million for the quarter ended March 31, 2022, compared to the quarter ended March 31, 2021. This decrease is mainly related to lower product margins on propane due to reduced demand, increased competition and lower product allocations from certain suppliers, as well as lower service revenues due to the sale of Sawtooth and less throughput in certain of our terminals. The decrease was offset by higher product margins for butane and refined products as a result of tighter supply markets and volatility caused by the geopolitical unrest.

Propane volumes decreased by 87.8 million gallons, or 18.4%, compared to the quarter ended March 31, 2021, due to the warm winter weather in our core operating areas, increased competition and lower allocations of product from certain suppliers. Butane volumes decreased by 19.2 million gallons, or 10.7%, due to the tight supply market and an increase in demand for exports.

Capitalization and Liquidity

Total liquidity (cash plus available capacity on our asset-based revolving credit facility (“ABL Facility”)) was approximately $232.7 million as of March 31, 2022. On March 31, 2022, the Partnership reported $116.0 million in outstanding borrowings on its ABL Facility, compared to $4.0 million in outstanding borrowings at March 31, 2021. This increase was due to higher working capital requirements as a result of increased commodity prices, a portion of which was funded using free cash flow. On April 13, 2022, the ABL Facility was amended to increase, under the accordion feature, the commitments to $600 million with an agreement to lower the commitments back to $500 million on or before March 31, 2023.

As of March 31, 2022, the Partnership is in compliance with all of its debt covenants and has no significant current debt maturities before November 2023. The Partnership expects to generate approximately $280 million of excess cash flow in Fiscal 2023, which it plans to use to repay outstanding indebtedness and improve leverage.

Fourth Quarter Conference Call Information

A conference call to discuss NGL’s results of operations is scheduled for 4:00 pm Central Time on Monday, June 6, 2022. Analysts, investors, and other interested parties may join the webcast via the event link: https://www.webcaster4.com/Webcast/Page/2808/45661 or by dialing (888) 506-0062 and providing access code: 956840. An archived audio replay of the call will be available for 14 days, which can be accessed by dialing (877) 481-4010 and providing access code 45661.

NGL filed its Annual Report on Form 10-K for the year ended March 31, 2022 with the Securities and Exchange Commission after market on June 6, 2022. A copy of the Form 10-K can be found on the Partnership’s website at www.nglenergypartners.com. Unitholders may also request, free of charge, a hard copy of our Form 10-K and our complete audited financial statements.

Non-GAAP Financial Measures

NGL defines EBITDA as net income (loss) attributable to NGL Energy Partners LP, plus interest expense, income tax expense (benefit), and depreciation and amortization expense. NGL defines Adjusted EBITDA as EBITDA excluding net unrealized gains and losses on derivatives, lower of cost or net realizable value adjustments, gains and losses on disposal or impairment of assets, gains and losses on early extinguishment of liabilities, equity-based compensation expense, acquisition expense, revaluation of liabilities, certain legal settlements and other. NGL also includes in Adjusted EBITDA certain inventory valuation adjustments related to TransMontaigne Product Services, LLC (“TPSL”), our refined products business in the mid-continent region of the United States (“Mid-Con”) and our gas blending business in the southeastern and eastern regions of the United States (“Gas Blending”), which are included in discontinued operations, and certain refined products businesses within NGL’s Liquids Logistics segment, as discussed below. EBITDA and Adjusted EBITDA should not be considered alternatives to net loss, loss from continuing operations before income taxes, cash flows from operating activities, or any other measure of financial performance calculated in accordance with GAAP, as those items are used to measure operating performance, liquidity or the ability to service debt obligations. NGL believes that EBITDA provides additional information to investors for evaluating NGL’s ability to make quarterly distributions to NGL’s unitholders and is presented solely as a supplemental measure. NGL believes that Adjusted EBITDA provides additional information to investors for evaluating NGL’s financial performance without regard to NGL’s financing methods, capital structure and historical cost basis. Further, EBITDA and Adjusted EBITDA, as NGL defines them, may not be comparable to EBITDA, Adjusted EBITDA, or similarly titled measures used by other entities.

Other than for the Mid-Con, and Gas Blending businesses, which are included in discontinued operations, and certain businesses within NGL’s Liquids Logistics segment, for purposes of the Adjusted EBITDA calculation, NGL makes a distinction between realized and unrealized gains and losses on derivatives. During the period when a derivative contract is open, NGL records changes in the fair value of the derivative as an unrealized gain or loss. When a derivative contract matures or is settled, NGL reverses the previously recorded unrealized gain or loss and record a realized gain or loss. NGL does not draw such a distinction between realized and unrealized gains and losses on derivatives of the Mid-Con, and Gas Blending businesses, which are included in discontinued operations, and certain businesses within NGL’s Liquids Logistics segment. The primary hedging strategy of these businesses is to hedge against the risk of declines in the value of inventory over the course of the contract cycle, and many of the hedges cover extended periods of time. The “inventory valuation adjustment” row in the reconciliation table reflects the difference between the market value of the inventory of these businesses at the balance sheet date and its cost, adjusted for the impact of seasonal market movements related to our base inventory and the related hedge. NGL includes this in Adjusted EBITDA because the unrealized gains and losses associated with derivative contracts associated with the inventory of this segment, which are intended primarily to hedge inventory holding risk and are included in net income, also affect Adjusted EBITDA. In NGL’s Crude Oil Logistics segment, they purchase certain crude oil barrels using the West Texas Intermediate (“WTI”) calendar month average (“CMA”) price and sell the crude oil barrels using the WTI CMA price plus the Argus CMA Differential Roll Component (“CMA Differential Roll”) per NGL’s contracts. To eliminate the volatility of the CMA Differential Roll, NGL entered into derivative instrument positions in January 2021 to secure a margin of approximately $0.20 per barrel on 1.5 million barrels per month from May 2021 through December 2023. Due to the nature of these positions, the cash flow and earnings recognized on a GAAP basis will differ from period to period depending on the current crude oil price and future estimated crude oil price which are valued utilizing third-party market quoted prices. NGL is recognizing in Adjusted EBITDA the gains and losses from the derivative instrument positions entered into in January 2021 to properly align with the physical margin we are hedging each month through the term of this transaction. This representation aligns with management’s evaluation of the transaction.

Distributable Cash Flow is defined as Adjusted EBITDA minus maintenance capital expenditures, income tax expense, cash interest expense, preferred unit distributions and other. Maintenance capital expenditures represent capital expenditures necessary to maintain the Partnership’s operating capacity. For the CMA Differential Roll transaction, as discussed above, we have included an adjustment to Distributable Cash Flow to reflect, in the period for which they relate, the actual cash flows for the positions that settled that are not being recognized in Adjusted EBITDA. Distributable Cash Flow is a performance metric used by senior management to compare cash flows generated by the Partnership (excluding growth capital expenditures and prior to the establishment of any retained cash reserves by the Board of Directors) to the cash distributions expected to be paid to unitholders. Using this metric, management can quickly compute the coverage ratio of estimated cash flows to planned cash distributions. This financial measure also is important to investors as an indicator of whether the Partnership is generating cash flow at a level that can sustain, or support an increase in, quarterly distribution rates. Actual distribution amounts are set by the Board of Directors.

Forward-Looking Statements

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

NGL provides Adjusted EBITDA guidance that does not include certain charges and costs, which in future periods are generally expected to be similar to the kinds of charges and costs excluded from Adjusted EBITDA in prior periods, such as income taxes, interest and other non-operating items, depreciation and amortization, net unrealized gains and losses on derivatives, lower of cost or net realizable value adjustments, gains and losses on disposal or impairment of assets, gains and losses on early extinguishment of liabilities, equity-based compensation expense, acquisition expense, revaluation of liabilities and items that are unusual in nature or infrequently occurring. The exclusion of these charges and costs in future periods will have a significant impact on the Partnership’s Adjusted EBITDA, and the Partnership is not able to provide a reconciliation of its Adjusted EBITDA guidance to net income (loss) without unreasonable efforts due to the uncertainty and variability of the nature and amount of these future charges and costs and the Partnership believes that such reconciliation, if possible, would imply a degree of precision that would be potentially confusing or misleading to investors.

About NGL Energy Partners LP

NGL Energy Partners LP, a Delaware limited partnership, is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process.

For further information, visit the Partnership’s website at www.nglenergypartners.com.

NGL Energy Partners LP
Linda J. Bridges, 918-481-1119
Executive Vice President, Chief Financial Officer and Treasurer
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David Sullivan, 918-481-1119
Vice President - Finance
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Research demonstrates that international and wide-scale adoption of Electreon’s wireless electric vehicle (EV) charging to support global EV fleet projections could reduce CO2 emissions by up to 635.4M tons per year, on average, through 2030. The projected CO2 savings are equivalent to having every road vehicle on the planet not drive for a whole month.

BEIT YANAI, Israel--(BUSINESS WIRE)--Electreon (TASE: ELWS.TA), the leading provider of in-road wireless electric vehicle (EV) charging technology, released a white paper today detailing the projected impact of its technology on global CO2 emission reductions. The research team at Electreon explored four emission-reduction benefits of its wireless EV charging technology that will help decrease current global CO2 emissions by more than 1 percent, on average, through 2030.

The research model takes into consideration projected fleet sizes from 2022 to year-end 2030, specific values found in online and print literature, and estimated emissions produced from Electreon’s operations. The review of the methodology, sources, assumptions, and calculations of Electreon’s research was performed in conjunction with Kenneth Gillingham, professor of economics at the Yale School of the Environment. “The Electreon modeling accurately quantifies the emission reductions possible from widespread adoption of the Electreon technology,” said Professor Gillingham.

The four key benefits of Electreon’s technology that lead to CO2 reductions include:

1. Reduced EV battery sizes: Charging EVs wirelessly through roadways instead of plug-in or connected charging points removes limitations for charging location; enabling charging stations to be deployed wherever needed, including strategically along EV routes as part of wireless Electric Road Systems (ERS) to charge vehicles intermittently with shorter, spread out charging sessions while the vehicles drive. This permits EVs to operate on fewer and smaller batteries, as the batteries no longer need to be large enough to power vehicles for prolonged periods and can instead refill from the road itself without interruptions to driving. This simultaneously delivers extended range, and with EVs able to operate further with fewer/smaller batteries, EV battery kWh production, which has a significant carbon footprint, can be reduced. Battery sizes also impact total vehicle weight, so an EV operating with smaller batteries will be lighter and will emit fewer emissions while in operation.

“This research shows that EVs can only help to drastically cut emissions if they are powered by sustainable solutions like Electreon’s wireless charging technology,” says Oren Ezer, CEO of Electreon. “This effort by our team was inspired by Bill Gates and Breakthrough Energy’s benchmark for companies to reduce global annual emissions by 1%, and which estimates the current total global emissions to be approximately 51 billion tons of CO2 every year. As we deploy Electric Roads Systems all around the world, these metrics will remind our team and partners of our ability to prevent further damage to our planet and achieve our vision of a decarbonized world.”

2. Utilizing renewable (solar) energy for electricity generation: EVs still rely upon the electric grid, which mainly relies on fossil fuel energy sources to supply power during their plug-in charging sessions. Electreon’s wireless charging technology can be easily integrated with off-grid renewable energy sources, alleviating pressure on the electric grid. CO2 emissions are saved through reduced reliance on fossil fuels to power EVs, with EVs receiving a portion of their required electricity from greener, cleaner, energy sources.

3. On-site electricity generation from renewables through existing infrastructure: Indeed, incorporating renewable solar energy to power EVs can help reduce emissions through less reliance on fossil fuels for energy. Coupling this with the use of existing roadway infrastructure - such as median walls and road corridors - to safely mount the required solar panel fences to power a wireless ERS directly on-site will result in even greater CO2 reductions. CO2 emissions are saved through the protection of land acreage and tree populations, often destroyed to make way for large solar farms, as well as reduced manufacturing of large-scale solar facilities.

4. Dynamic charging roads as a shared charging platform: Electreon’s charging technology can wirelessly charge multiple vehicles simultaneously, all via a single management unit. This reduces the demand for private and public plug-in EV chargers, which can only charge one vehicle at a time and whose manufacturing process generates CO2 emissions.

Electreon continues to develop partnerships around the world and stay committed to its goal of wide-scale implementation of wireless EV charging technology to reduce global CO2 emissions. Electreon’s award-winning technology is actively operating pilots in Germany, Italy, Israel and Sweden, and the company is preparing to execute first-of-their-kind pilots in the U.S.

About Electreon

Electreon is the leading provider of wireless charging solutions for electric vehicles (EVs), furnishing end-to-end charging infrastructure and services to meet the needs and efficiency demands of shared, public and commercial fleet operators and consumers. The company’s proprietary inductive technology dynamically (while in motion) and statically (while stopped) charges EVs quickly and safely, eliminating range anxiety, lowering total costs of EV ownership, and reducing battery capacity needs—making it one of the most environmentally sustainable, scalable, and compelling charging solutions available. Electreon works with cities and fleet operators on a charging as a service (CaaS) platform that enables cost-effective electrification of public, commercial, and autonomous fleets for smooth and continuous operation. For more information, visit electreon.com.

Media
Janine Ward
On behalf of Electreon
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313-536-7806

ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, today announced Pedro Azagra Blázquez has officially assumed the role of Chief Executive Officer of AVANGRID. Azagra brings to the team a deep familiarity with the AVANGRID businesses and extensive experience in the U.S. energy sector. 

“I’m honored to lead AVANGRID as we continue to accelerate the transformation to a clean energy future,” said Azagra. “AVANGRID is a true leader in ESG+F. I’ve had the privilege to be involved with the organization for many years, including leading the company into the offshore wind space, and I’m proud of AVANGRID’s leadership in the energy industry. I look forward to taking our company to the next level as we continue to raise the bar, be bold and think innovatively.” 

Azagra has served as a member of the AVANGRID Board of Directors since 2019, and previously served as a member of the Board of Directors from 2014 to 2018. He also serves as a member of the Executive Committee of the Board of Directors and the Special Committee of the Board of Directors, which is responsible for, among other things, assisting the Board of Directors with oversight of the New England Clean Energy Connect (NECEC) transmission line project.

Azagra serves as the Chief Development Officer for Iberdrola, S.A., where he has executed more than one hundred transactions and led the international expansion of Iberdrola. In addition, he serves as a member of the board of directors of Neoenergia, S.A., a member of the Iberdrola group of companies listed on the São Paulo Stock Exchange.

“Pedro’s substantial experience in the Iberdrola Group, globally and in the U.S., as well as the strong relationships he has built in the country over the years, make him a natural choice to lead the company and execute our long-term strategy,” said Ignacio Galán, Chairman of AVANGRID. “Pedro knows the U.S. market well. I am very confident that under his leadership we will continue to build on AVANGRID’s strong reputation as a leading sustainable energy company in the U.S., both in Networks and Renewables”

In addition to serving on AVANGRID’s Board of Directors, Azagra has advised the company in connection with the merger proceedings with PNM Resources and previously led the $4.7 billion acquisition and integration of Energy East Corporation in 2008 and the $17.9 billion merger and integration of AVANGRID (formerly known as Iberdrola USA) and UIL Holdings in 2015.  He also led AVANGRID’s entry into the U.S. offshore industry through the joint venture his team developed with Copenhagen Infrastructure Partners. In these and in other important AVANGRID matters, he led regulatory strategy and regularly provided testimony on our governance commitments and customer benefits. Formerly, Azagra led the U.S. businesses of Iberdrola Group and served as Director of Strategy. He previously served as a member of the board of directors of Energy East, Rochester Gas and Electric, and New York State Electric & Gas.

Azagra has a degree in Law and Business Administration from the Instituto Católico de Administración y Dirección de Empresas (ICADE) at the Universidad Pontificia de Comillas in Madrid, and a Master of Business Administration from the University of Chicago.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.

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Sarah Warren
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GREEN BAY, Wis.--(BUSINESS WIRE)--Schneider (NYSE: SNDR), a premier multimodal provider of transportation, intermodal and logistics services announced today the company has acquired Wisconsin-based carrier deBoer Transportation. Consistent with Schneider’s strategy, the company is expected to be quickly integrated into Schneider’s existing businesses, with drivers and equipment being deployed to support growth opportunities in Dedicated and Power Only operations.

deBoer Transportation is a regional and dedicated carrier headquartered in Blenker, Wisconsin. As part of the acquisition, Schneider will assume ownership of approximately 160 tractors and 660 trailers. deBoer's facility in Blenker, Wisconsin, and maintenance shop near Dallas, Texas, are not included in the sale.

About Schneider

Schneider is a premier multimodal provider of transportation, intermodal and logistics services. Offering one of the broadest portfolios in the industry, Schneider’s solutions include Regional and Long-Haul Truckload, Expedited, Dedicated, Bulk, Intermodal, Brokerage, Warehousing, Supply Chain Management, Port Logistics and Logistics Consulting.

With $5.6 billion in annual revenue, Schneider has been safely delivering superior customer experiences and investing in innovation for over 85 years. The company’s digital marketplace, Schneider FreightPower®, is revolutionizing the industry giving shippers access to an expanded, highly flexible capacity network and provides carriers with unmatched access to quality drop-and-hook freight – Always Delivering, Always Ahead.

For more information about Schneider, visit Schneider.com or follow the company socially on Facebook, LinkedIn and Twitter: @WeAreSchneider.

Source: Schneider SNDR

Kara Leiterman, Media Relations Manager
M 920-370-7188
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CANONSBURG, Pa.--(BUSINESS WIRE)--Equitrans Midstream Corporation (NYSE: ETRN) today announced on behalf of its wholly owned subsidiary, EQM Midstream Partners, LP (the Partnership), that the Partnership’s previously announced cash tender offer (the Any and All Tender Offer) for any and all of its outstanding 4.750% Notes due 2023 (the Any and All Notes) expired at 5:00 p.m., New York City time, on June 6, 2022. According to information provided by D.F. King & Co., Inc., the tender and information agent for the Any and All Tender Offer, $494,822,000 aggregate principal amount of the Any and All Notes were validly tendered and not validly withdrawn prior to or at the expiration of the Any and All Tender Offer. This amount excludes $5,454,000 aggregate principal amount of the Any and All Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase, dated May 31, 2022 (the Offer to Purchase), and the related notice of guaranteed delivery provided in connection with the Any and All Tender Offer, which remain subject to the holders’ performance of the delivery requirements under such procedures. The obligation of the Partnership to accept any Any and All Notes tendered and to pay the consideration for the Any and All Notes is subject to satisfaction or waiver of certain conditions and other terms set forth solely in the Offer to Purchase. If the conditions are satisfied or waived, the Partnership expects to pay for such Any and All Notes on June 7, 2022 (the Any and All Settlement Date), or, for Any and All Notes validly tendered pursuant to the guaranteed delivery procedures set forth in the Offer to Purchase, June 9, 2022.

Holders of Any and All Notes that validly tendered (including pursuant to the guaranteed delivery procedures set forth in the Offer to Purchase) and did not validly withdraw their Any and All Notes prior to the expiration of the Any and All Tender Offer will receive total consideration of $1,020 for each $1,000 principal amount of Any and All Notes tendered and accepted for payment, plus accrued but unpaid interest up to but not including the Any and All Settlement Date.

The Partnership intends to fund the purchase of the Any and All Notes with the proceeds from its recently priced notes offering, which is anticipated to close on June 7, 2022, along with cash on hand and/or borrowings under EQM’s Third Amended and Restated Credit Agreement, dated as of October 31, 2018 (as amended).

BofA Securities, Inc. is acting as Dealer Manager and D.F. King & Co., Inc. is acting as the Tender Agent and Information Agent for the Any and All Tender Offer. Requests for documents may be directed to D.F. King & Co., Inc. at (877) 783-5524, by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or on its website at www.dfking.com/eqm. Questions regarding the Any and All Tender Offer may be directed to BofA Securities, Inc. collect at (980) 388-3646 or toll-free at (888) 292-0070.

This announcement is for informational purposes only and is not an offer to purchase or sell or a solicitation of an offer to purchase or sell, with respect to any securities. The Any and All Tender Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as permitted by applicable law.

Cautionary Statement Regarding Forward-Looking Information

Disclosures in this news release contain certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Statements that do not relate strictly to historical or current facts are forward-looking. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of ETRN, as well as assumptions made by, and information currently available to, such management. Words such as “could,” “will,” “may,” “assume,” “forecast,” “position,” “predict,” “strategy,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe,” “project,” “budget,” “potential,” “target,” “outlook,” or “continue,” and similar expressions are used to identify forward-looking statements. These statements are subject to various risks and uncertainties, many of which are outside of ETRN’s control. Without limiting the generality of the foregoing, forward-looking statements contained in this news release specifically include statements relating to the offering and the Any and All Tender Offer, including the expected timing thereof and the anticipated sources and use of proceeds therefrom, as applicable. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected results.

Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. ETRN and the Partnership have based these forward-looking statements on current expectations and assumptions about future events. While ETRN and the Partnership consider these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, judicial and other risks and uncertainties, many of which are difficult to predict and are beyond ETRN’s and the Partnership’s control. The risks and uncertainties that may affect the operations, performance and results of ETRN’s and the Partnership’s business and forward-looking statements include, but are not limited to, those set forth in ETRN’s publicly filed reports with the Securities and Exchange Commission (the SEC), including those set forth under Item 1A, “Risk Factors” of ETRN’s Annual Report on Form 10-K for the year ended December 31, 2021, and ETRN’s subsequent filings.

Any forward-looking statement speaks only as of the date on which such statement is made, and ETRN does not intend to correct or update any forward-looking statement, unless required by securities laws, whether as a result of new information, future events or otherwise. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

Source: Equitrans Midstream Corporation

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The climate tech company will focus on reinventing the enterprise resource planning (ERP) space to help climate-conscious Fortune 500 companies operationalize reuse.

CHICAGO--(BUSINESS WIRE)--#chicago--Rheaply, a resource exchange platform helping industry-leading organizations better visualize, quantify, and utilize their purchased goods, materials, and resources, today announced that it has raised $20MM in an inter-series round anchored by Revolution’s Rise of the Rest Seed Fund. Additional investments came from the John Doerr Family Trust; Coupa Ventures; Energy Impact Partners; PSP Growth; Rankin Family Ventures; and executives, including Joe Thomas (CEO & co-founder of Loom). Existing investors, including High Alpha, Salesforce Ventures Impact Fund, Emerson Collective, Techstars, and HPA, also returned to participate.

Since its founding in 2016, Rheaply has continuously driven forward the conversation around the power of reusing workplace resources. Rheaply’s innovative technology has significantly increased adoption of — and thus access to the benefits of — the circular economy for Fortune 500 companies, governments, and other large organizations. The company services private enterprises such as Google, Exelon, and AbbVie, establishing Rheaply as a household name not only in climate tech, but in the broader business world.

As the company has grown, it has sharpened its focus on embodied carbon in the built environment, a sector that produces a huge share (37%) of total carbon emissions globally. Because of Rheaply’s work, including its recent launch of a new estimated embodied carbon avoidance feature on the platform, organizations across a wide range of verticals can now understand how the reuse of resources translates to avoided carbon emissions. These new insights equip organizations to take action more effectively against climate change.

With this funding, Rheaply intends to further scale its tech development efforts, develop its consulting services to help more organizations strategically progress toward their sustainability goals, and grow its partnership program to bring more industry, technology, and community partners into the circular economy. The company will focus on developing a new solution that Rheaply refers to as “recirculated enterprise resource planning” (“re-ERP”). Rheaply’s solution will address the limitations of existing ERP systems by enabling organizations to track and exchange resources with utility from purchasing stages (upstream) to disposition decisions (downstream). Clients will gain enhanced capabilities for evaluating and managing the total environmental impact of their business resource management operations.

The funding round is also significant as it makes Rheaply co-founder and CEO Dr. Garry Cooper Jr. the single highest-funded Black entrepreneur in climate tech in the city of Chicago.

“As a Black founder, I am proud to have achieved this funding milestone. However, the takeaway I want to emphasize is the fact that investors have recognized the incredible nature of the solution our team has built,” said Garry Cooper. “We are honored and energized by our investors’ support for our vision, and we can’t wait to keep building.”

“Ever since Garry’s winning pitch at our Rise of the Rest Equity Tour Pitch Competition in 2020, we’ve been excited by Rheaply’s momentum,” said Steve Case, chairman and CEO of Revolution and co-founder of AOL. “Rheaply is not just scaling a great company in the ever-growing Chicago tech ecosystem, it is developing a critical solution for businesses that are trying to effectively use and recycle physical resources while also combating climate change.”

With this raise, the Chicago-based company intends to expand its work in the energy and utilities sector by building a community around circularity at Nicor Gas.

“At Nicor Gas, we are committed to being the energy industry leader in sustainability and are taking proactive steps to reduce our greenhouse gas emissions and to reach net-zero methane emissions from our operations by 2030,” said Meena Beyers, vice president of Community and Business Development at Nicor Gas. “We are proud to partner with Rheaply to implement solutions that align with our decarbonization goals and look forward to working together to reuse our existing resources and supplies to eliminate unnecessary waste.”

"Circularity and reuse are central to achieving net zero. Rheaply's technology has the potential to help every organization ‘close the loop’ by reducing unnecessary waste and avoiding additional GHG emissions. At Logitech, we are extremely excited about the future working with Rheaply," added Bracken Darrell, CEO of Logitech.

This news comes on the heels of several major Rheaply milestones, including the launch of the estimated embodied carbon avoidance feature and a partnership with the City of San Francisco and the Carbon Neutral Cities Alliance.

To learn more about how Rheaply helps organizations strategically design and execute sustainability efforts, please visit rheaply.com.

About Rheaply

The Rheaply platform is a cloud-based resource exchange technology application for connecting people and organizations with resources, improving reuse outcomes, and catalyzing the circular economy. As the only market solution that combines an asset management system with an online marketplace, Rheaply’s platform enables organizations to exchange materials and resources more effectively, eliminating unnecessary waste, avoiding carbon emissions, and reducing spend. To learn more about Rheaply, visit rheaply.com or follow @RheaplyInc.

For career inquiries, contact This email address is being protected from spambots. You need JavaScript enabled to view it. or visit rheaply.com/careers.

Brian Garrido
3Points
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A prestigious award for founder Don Stephens and blessing of the Global Mercy™ add to the launch of a packed training schedule designed to increase healthcare capacity in Africa

DAKAR, Senegal--(BUSINESS WIRE)--In the midst of celebrations around the arrival of the Global Mercy™ to Senegal, training has already begun by the crew of the world’s largest civilian hospital ship, currently docked in Dakar for its first African mission.

This month more than 260 Senegalese healthcare professionals will receive training on board this brand-new hospital ship, through a variety of courses, including surgical skills, SAFE anesthesia, nursing skills, and more. These first of many training sessions will address topics impacting delivery of safe surgical care.

During the week, Don Stephens, Founder of Mercy Ships received the Commander of the National Order of the Lion of Senegal. Veteran surgeon Dr. Gary Parker, Africa Mercy^® Chief Medical Officer, received the Officer of the National Order of the Lion of Senegal at the Presidential Palace. The Order of the Lion is reserved for only the most distinguished civil or military service.

Ceremonies throughout the past week commemorated more than 30 years of service in Africa and were concluded with a special ceremony of naming and blessing for the Global Mercy, attended by key members of Mercy Ships, governmental dignitaries, and partners including WHO Africa, Johnson & Johnson, and Smile Train.

At the Ceremony of Blessing, Dr. Diop, Secretary General of Senegal, said “It’s my pleasure to be here on behalf of the President to help my country, (which is) facing huge surgical needs as you know. We are very honored and proud to host the Global Mercy for the first time in Africa. Access to surgery is very limited and expensive. On one hand, hospitals are not well equipped. On the other, our medical staff are not well trained. Mercy Ships comes as a gift.”

Gert van de Weerdhof, Mercy Ships Chief Executive Officer, stated, “This is a holy moment. After many years of planning, preparation, and partnership, the Global Mercy officially becomes part of the Mercy Ships fleet, doubling opportunities for safe and free surgery to take place, transforming lives not only of the patients but their families and communities.”

He went on to say, “We aim to provide approximately 5,000 training hours during this first visit of the Global Mercy, incorporating areas of the hospital we could never usually use for training in a field service, creating an impactful experience for our participants. We look forward to returning in 2023 to Dakar to continue our support and see surgical capacity strengthened.”

Last week H.E. President of Senegal Macky Sall inaugurated the world’s largest private floating hospital and committed to accelerate access to surgical, obstetric, and aesthetic care for the nations of Africa. Representatives from Cameroon, the Union of Comoros, Congo Brazzaville, The Gambia, Guinea-Bissau, and Senegal gathered on board the Global Mercy to approve a strategic road map to improve surgical care for African nations by 2030, where an estimated 93% of sub-Saharan Africa still lack access to safe surgery.

Global humanitarian organization Mercy Ships and its partners in Africa used this opportunity to come together in an unprecedented and strategic effort to improve access to safer surgery across the continent through a series of milestone events, including the agreement of the Dakar Declaration, a plan to accelerate access to surgical, obstetric, and anesthetic care across Africa, which H.E. President Macky Sall will now take forward to the rest of the African Union.

The new hospital ship, the Global Mercy™, is 174 meters long, 28.6 meters wide and has space for 200 patients, six operating rooms, a laboratory, general outpatient clinics, dental, and eye clinics. The hospital decks cover a total area of 7,000 square meters and contain the latest training facilities. When in full service, the ship will be able to accommodate up to 950 people when docked, including crewmembers and volunteers from all over the world and serve collaboratively with the Africa Mercy, in operation since 2007.

Over the next 50 years of the Global Mercy’s lifespan, it’s expected that more than 150,000 lives will be transformed through surgery alone, with each transformation representing a person with a name, a face, a story, a family, and a purpose. Thousands of African medical professionals will receive training and mentoring with the goal of multiplied impact within their own communities.

Following the four-week training period in Dakar, the ship will complete final equipping in the Canary Islands for the remainder of 2022 and plans to return to Dakar in 2023 for the crew’s first surgical field service. The Africa Mercy will remain in Senegal until the end of the year, continuing to provide surgeries and bringing hope and healing to many.

Recordings of the ceremonies include:

• Ribbon Cutting: https:///www.facebook.com/MercyShips/videos/328007576151463/
• Inauguration Ceremony: https://www.youtube.com/watch?v=HylOGBYaX-0
• Ceremony of Blessing: https://www.youtube.com/watch?v=f5TNNFSUAN8

ABOUT MERCY SHIPS:

Global health for the last two decades has focused on individual diseases, while surgical care in low-resource countries has not received the attention it needs. Lack of surgical care resulted in almost 17 million deaths annually.

Mercy Ships is an international faith-based organization that operates hospital ships to deliver free, world-class healthcare services, medical capacity building, and health system strengthening to those with little access to safe surgical care. Since 1978, Mercy Ships has worked in more than 55 countries, with the last three decades focused entirely on partnering with African nations. Each year, volunteer professionals from over 60 countries serve on board the world’s two largest non-governmental hospital ships, the Africa Mercy® and the Global Mercy™. Professionals such as surgeons, dentists, nurses, health trainers, cooks, and engineers dedicate their time and skills to the cause. Mercy Ships has offices in 16 countries and an Africa Bureau. For more information, visit mercyships.org and follow us @MercyShips on social media.

Website: https://MercyShips.africa/press

B’roll and hi-res photos can be found at https://mercyships.africa/press/

U.S.
Laura Rebouche
U.S. National Media Relations Director
Telephone: 903-939-7137
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Website: https://Mercyships.org/press

International
Diane Rickard
Mercy Ships International Media Relations Manager
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DUBLIN--(BUSINESS WIRE)--The "Flow Batteries - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Flow Batteries Market to Reach $961.9 Million by 2026

The global market for Flow Batteries estimated at US$290.5 Million in the year 2020, is projected to reach a revised size of US$961.9 Million by 2026, growing at a CAGR of 22.7% over the analysis period.

The growing investments into renewable energy projects represents a key factor fueling growth in the market. With flow batteries becoming cheaper than other assorted storage alternatives, their deployment rate will increase further for catering to the newer solar panels and wind turbines for maintaining grid reliability.

The market is also witnessing growth led by the growing use of flow batteries in electric vehicle applications. The growing installations of telecommunications towers that have a flow battery as an alternative source of energy are also fueling market growth.

Vanadium, one of the segments analyzed in the report, is projected to grow at a 22.4% CAGR to reach US$819.7 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the ZINC-BROMINE segment is readjusted to a revised 24.1% CAGR for the next 7-year period.

This segment currently accounts for a 23.1% share of the global Flow Batteries market. Vanadium-based flow batteries segment is expected to grow significantly due to the distinct advantages offered by the battery, particularly for large stationary applications. Vanadium redox flow batteries are the frontrunners in energy storage and their demand is high in the markets for off-grid, utility, and mini-grids.

Zinc-bromine is expected to record strong growth as most manufacturers opt for zinc-bromine over vanadium owing to the latter's high cost and limited availability. Additionally, zinc-bromine flow batteries have been used more in the past in applications like grid, residential, industrial, commercial, and microgrid.

The U.S. Market is Estimated at $63.4 Million in 2021, While China is Forecast to Reach $162.5 Million by 2026

The Flow Batteries market in the U.S. is estimated at US$63.4 Million in the year 2021. The country currently accounts for a 20.6% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$162.5 Million in the year 2026 trailing a CAGR of 27.5% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.6% and 21.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 21.4% CAGR while Rest of European market (as defined in the study) will reach US$213.8 Million by the end of the analysis period.

The Asia-Pacific region has numerous flow battery-based installations having larger power ratings. Australia operates the largest number of flow battery-based projects for its residential, utilities, commercial, and industrial applications, whereas, China has the largest capacity of flow batteries installations until date. The need to store renewable energy is a major driving factors for flow batteries market in the region.

By Application, Utilities Segment to Reach $383.7 Million by 2026

Due to their large and heavy features, flow batteries are considered to be suitable for utilities as well as commercial and industrial customers seeking long-term and long hours of energy storage.

The presence of vanadium electrolyte in most flow batteries is capable of ensuring reliable charging and discharging for several cycles without degradation. This is made possible due to vanadium's electrochemical attributes that make it easy for removal of electrons from the element and subsequently placing them back.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• An Introduction to Flow Batteries
• Types of Flow Batteries & Technologies
• Advantages & Disadvantages of Flow Batteries
• Applications of Flow Batteries
• Global Market Prospects & Outlook
• Developing Economies to Boost Future Growth
• World Brands
• Recent Market Activity
• Flow Batteries - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS (Total 45 Featured)

• Elestor BV
• ESS, Inc
• H2
• Invinity Energy Systems
• JenaBatteries GmbH
• Kemwatt SAS
• Largo Clean Energy
• Lockheed Martin Corporation
• nanoFlowcell Holdings Ltd
• Primus Power
• Redflow Ltd
• SCHMID Group
• Sumitomo Electric Industries, Ltd
• UniEnergy Technologies LLC (UET)
• ViZn Energy Systems, Inc
• Volterion GmbH
• VoltStorage GmbH
• VRB Energy

3. MARKET TRENDS & DRIVERS

• Growth of Intermittent Renewable Energy Sources and the Resulting Need for Energy Storage: A Key Opportunity for Flow Batteries
• Targets for Electricity Production from Renewable Energy Sources in Select Countries
• Investment Scenario on Renewable Energy Remains Impacted
• Inevitable Rise in Energy Demand Post COVID-19 to Throw Spotlight on Renewable Energy & Energy Storage Technologies
• Burgeoning Global Population Propels Demand for Electric Power
• Growing Opportunities for Flow Batteries in Clean Energy Space
• Flow Batteries: Potential to be a Game Changer for Electric Vehicles
• With COVID-19 Pandemic Affecting EV Sales, Prospects Hit for Flow Batteries Market
• Utilities: The Major End-Use Market for Flow Batteries
• Need for Improved Energy Management amidst Increasing Demand for Electricity Benefits Market Expansion
• Impact of COVID-19 Pandemic on the Power Sectors in China and the US
• Grid Modernization Programs Emphasize Grid Connected Energy Storage
• Smart Grids Elevate the Prospects for Flow Batteries
• Complex Infrastructure and Scale of Modern Data Centers Necessitates Energy Storage: Potential for Flow Batteries
• Rapid Growth in Telecom Tower Installations Fuels Need for Flow Batteries
• Residential Applications to Witness Increased Penetration of Flow Batteries in the Long Run
• Flow Batteries to Emerge as a Reliable Tool in Military Microgrids
• Vanadium Emerges as a Preferred Electrolyte in Flow Batteries
• Vanadium Flow Batteries Unveil Opportunities in Energy Storage
• Vanadium Redox Flow Batteries: A High Growth Market
• VRFBs Demonstrate Efficiency in Sustainable Energy Applications
• Vanadium Redox Flow Batteries Face Stiff Challenge in Replacing Li-ion Batteries for Utility-Scale Storage
• Bromine Flow Batteries: Opportunities in Store
• Hybrid Flow Battery Market: An Overview
• Zinc-Bromine (ZnBr) Chemistry: A Reliable Hybrid Flow Battery
• Redox Flow Batteries: Significant Potential in Storage Battery Market
• RFB Holds Immense Potential in Mitigating Supply & Demand Issues
• Technological Innovations & Advancements Drive Flow Batteries Demand
• New Solar Flow Battery with Increased Energy Conversion Efficiency
• MIT Develops Chitin-Electrode Based Vanadium Flow Batteries
• CIC EnergiGUNE Develops Novel Redox Organic Flow Battery
• USC Research Team Develops AQDS-Iron Sulphate Based New Redox Flow Battery
• Stanford Researchers Create New Type of Liquid Metal Based Flow Battery
• IBM and ETH Develop Tiny Redox Flow Battery for Electronic Components
• MIT Researchers Develop Sulfur Flow Battery for Cost-Efficient Long-Term Grid Storage
• Harvard Researchers Demonstrate New Methuselah Quinone for Organic Flow Battery
• Researchers Develop Aluminum-Air Flow Battery for EVs
• Gelion's Flow Batteries Emerge as Alternatives to Li-Ion Batteries
• ViZn Energy's Flow Batteries
• Flow Batteries Vs Li-ion and PbA Batteries: A Review
• Rentable Electrolytes Model Comes into Spotlight for Flow Batteries to Compete Against Lithium Ion Batteries
• Challenges Confronting Flow Batteries Market

4. GLOBAL MARKET PERSPECTIVE

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/385ufa.

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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IRVINE, Calif.--(BUSINESS WIRE)--On Monday, June 6, 2022, at 11:00am PT / 14:00pm ET, Rivian will host its first annual shareholder meeting. The virtual meeting will be available here. A recording will be made available on Rivian’s investor relations website.

About Rivian:

Rivian exists to create products and services that help our planet transition to carbon neutral energy and transportation. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets. Rivian complements its vehicles with a full suite of proprietary, value-added services that address the entire lifecycle of the vehicle and deepen its customer relationships. Learn more about the company, products, and careers at rivian.com.

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Incoming Black & Veatch Chairman and CEO joins leading industry association as megatrends reshape the infrastructure landscape

OVERLAND PARK, Kan.--(BUSINESS WIRE)--The United States Energy Association has appointed Mario Azar, incoming Chairman and CEO of Black & Veatch to its Board of Directors. The USEA Board includes senior executives from U.S. energy corporations, trade associations, and other organizations all of which represent the interests of the energy industry.

Our nation’s changing grids, regulatory systems, and emerging technologies demand that energy organizations be flexible and adjust to the reality of the era we are in,” said USEA Acting Executive Director Sheila Hollis. “The addition of Mario will ensure that USEA is equipped to navigate these obstacles for years to come.”

Vicky Bailey, USEA Executive Chairperson added, “Mario’s knowledge of the energy landscape will help USEA grow as an organization and adapt to the challenges of our rapidly transforming sector.”

Azar’s global leadership experience spans more than three decades in the energy and industrial fields, much of it in engineering and construction solutions. Prior to joining Black & Veatch in 2018 as the president of the global power business, Azar served in multiple executive roles and led large global businesses at Siemens, and previously Westinghouse, including as CEO of Siemens Oil & Gas and Marine, an engineered solutions and integration business unit operating globally in over 21 countries. He also founded a private consulting firm focused on energy and heavy industry.

“Global megatrends are reshaping how the world addresses its infrastructure needs and it is a pivotal time to be part of the USEA when you think about governments, utilities and companies and the need to collectively transform how we operate,” said Azar.

“There are many integrated solutions needed to drive sustainability, deliver next-level reliability through resilience, and turn data into action; and engaging with leading industry associations such as the USEA creates opportunities to advance those efforts.”

Editor’s Notes:

• As incoming Chairman and CEO Azar becomes only the eighth senior leader in the founder, managing partner or Chairman and CEO role in Black & Veatch’s 107-year history.
• Please click here to download a high-resolution image of Mario Azar.

About Black & Veatch

Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2021 exceeded US$3.3 billion. Follow us on www.bv.com and on social media.

About USEA

The United States Energy Association (USEA) is a nonprofit, apolitical, nonlobbying organization founded in 1924. USEA’s mission has two pillars of equal importance. USEA serves as a resource, by convening energy stakeholders to share policy, scientific, and technological information to foster the advancement of the entire energy sector. Internationally, USEA promotes energy development by expanding access to safe, affordable, sustainable, and environmentally acceptable energy in partnership with the U.S. Government.

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Project to reliably alleviate grid constraints and deliver clean, renewable energy to residents

SAN DIEGO & SANTA ROSA, Calif.--(BUSINESS WIRE)--Luminia and Sonoma Clean Power (SCP) announced today the signing of a Power Purchase Agreement (PPA) for the development of an 11.6 MW AC solar plus 32 MWh battery storage project in Sonoma, California. Construction of the 75-acre project is expected in the second half of 2023 in southern Sonoma County, tying into a nearby electrical substation.

“Deploying reliable solar and storage projects with community choice aggregators like Sonoma Clean Power reinforces renewable energy as the new standard in our daily energy lives,” said Dale A. Vander Woude, chief investment officer of Luminia. “We formed an excellent team with Kenwood Investments to provide Sonoma Clean Power with a solution for its resource adequacy demand, which is what brought this important project to fruition in Sonoma County.”

In addition to the PPA, Luminia and Kenwood Investments, LLC, are managing the late-stage development of the project. Once completed, SCP will dispatch the 100 percent renewable, locally generated electricity to its EverGreen premium service customers throughout Sonoma and Mendocino counties. The 11.6 MW AC solar PV system also includes 32 MWh of lithium-ion battery storage that can distribute stored solar power across the grid during peak evening hours.

“Our mission is to make cleaner electricity accessible to our customers by putting the power to procure energy in the hands of local communities,” said Deb Emerson, managing director of procurement for Sonoma Clean Power. “With this solar and storage project we can provide renewable energy on-demand, regardless of the time of day, and promote 100 percent carbon-free energy generated right here in Sonoma County.”

Sonoma Clean Power has set the bar when it comes to renewable electricity options for residential and commercial customers. EverGreen is the only generation service in the U.S. that is truly renewable 24/7. EverGreen utilizes solar and geothermal power from facilities located exclusively in Sonoma and Mendocino counties.

Darius Anderson, managing member of Kenwood Investments, said, “It is an honor to work with Sonoma Clean Power, County stakeholders and Luminia on this important solar project for the Sonoma community.”

SCP issued a Request for Proposals in June 2021 in response to the Board’s request to procure more local renewable resources for EverGreen. The companies then entered into an exclusivity agreement for the project in November 2021.

To learn more about Luminia’s unique solar PV and energy efficiency financing solutions for commercial and community projects, visit luminia.io. To learn more about SCP’s EverGreen-Local Resource Plan, visit sonomacleanpower.org/programs/evergreen.

About Luminia

Founded in 2019, California-based Luminia provides unique financing and technology platform solutions that enable the deployment of commercial property sustainability improvements at scale. Through novel financing options and artificial intelligence-driven commercial real estate portfolio analysis, Luminia empowers commercial and industrial property owners to implement holistic clean energy and energy efficiency upgrades without barriers. Luminia’s solutions are purpose built to offer the greatest potential economic benefit and advance a property’s ability to meet ESG requirements. For more information, visit luminia.io.

About Sonoma Clean Power

SCP is the not-for-profit public power provider that operates a Community Choice Aggregation or ‘CCA’ for Sonoma and Mendocino counties, serving a population of about a half-million. SCP has operated for 8 years, serving all the cities and unincorporated areas of the two counties except Healdsburg and Ukiah, where long-standing municipal power providers exist. In downtown Santa Rosa, SCP operates the only Advanced Energy Center in the United States dedicated to helping customers transition to 100% renewable energy for their homes, businesses, and cars. SCP is also the only power provider in California offering 100% renewable energy twenty-four per day, every day of the year. To learn more, visit sonomacleanpower.org or call 1 (855) 202-2139.

Christine Bennett for Luminia
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Kate Kelly for Sonoma Clean Power
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OSAGE, Iowa--(BUSINESS WIRE)--Valent BioSciences LLC announced today that it has approved a major expansion of its biorational manufacturing facility in Osage, Iowa, which will meet increasing demand for its biorational products and the introduction of new products requiring more capacity. Construction will begin this summer and will be completed during the second quarter of 2024.

Production-scale fermentation and recovery equipment will be installed with full digital capabilities to produce products that increase crop yields, preserve forests, and protect the public from vector-borne diseases.

A new pilot plant facility with state-of-the-art development equipment will be included in the project. This will be used to accelerate introduction of new products and provide additional capacity and instrumentation to analyze and improve existing fermentation performance.

In addition, laboratory, office, maintenance, and warehouse areas will be expanded as part of the project plan to house additional employees and provide an enhanced workplace environment.

When it was completed in 2014, the Osage plant was the world’s largest purpose-built biorational manufacturing facility. Since then, Valent BioSciences has continued to invest significant resources in expanding its research and manufacturing capabilities at the site and satisfying the company’s tremendous business growth. This expansion will enable the company to maintain state-of-the-art facilities and help meet rising demand for the many biorational products that are made in Osage.

The Osage facility also incorporates the latest sustainable technologies. The expansion will use forward-thinking practices that reduce overall CO₂ emissions, energy usage, and wastewater volumes. Recently, Valent BioSciences announced two high-profile environmental initiatives in Mitchell County, Iowa, on land adjacent to the Osage facility.

The first is the restoration of 34 acres of native prairie accessible to the public that will establish a diverse native habitat for birds, butterflies, insects, reptiles, and small wildlife.

The second is a 1.5-megawatt alternating current (AC) solar field. In collaboration with Heartland Power and One Energy this will be constructed on 12 acres of land next to the prairie restoration project, which will provide approximately 8% of the Osage facility’s total annual electricity usage.

About Valent BioSciences LLC

Headquartered in Libertyville, Illinois, Valent BioSciences is a subsidiary of Tokyo-based Sumitomo Chemical Co., Ltd., and is the worldwide leader in the development, manufacturing, and commercialization of biorational products with sales in 95 countries around the world. Valent BioSciences is an ISO 9001 Certified Company. For additional information, visit the company’s website at www.valentbiosciences.com.

John Mandel
Valent BioSciences LLC
847-968-4728
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World’s most dynamic tech leaders convene to discuss ideas and demonstrate products to make transportation and mobility faster, cleaner, safer

BENTONVILLE, Ark.--(BUSINESS WIRE)--More than 250 guests will descend on Northwest Arkansas today for the opening of the 2022 UP.Summit. Now in its fifth year, the UP.Summit is an invitation-only event that attracts CEOs of some of the world’s biggest companies, founders of the most inspiring start-ups, and capital allocators representing more than $1 trillion of assets under management. Their shared objective is this year’s UP.Summit theme – “Transforming the Moving World.” The UP.Summit was founded in 2017 and is jointly hosted by investment firm UP.Partners, Tom and Steuart Walton, and Ross Perot Jr, rotating between Bentonville, Ark., and Dallas/Ft. Worth, Texas, annually.

This once-in-a-lifetime window into the future of transportation and mobility will feature innovators participating in deeply-engaging conversations, mind-bending technological demonstrations, and relationship-building adventures.

Arkansas leaders recently staked a claim to be the global leader in next-generation transportation by 2030. The incredible guest list and agenda for the 2022 UP.Summit proves that the state has the capital and clout to make it happen, said the summit’s co-creator and Arkansas Future Mobility Council Chairman Cyrus Sigari.

“Think Sun Valley meets CES meets the Oshkosh Airshow meets Burning Man meets TED meets Davos,” Sigari said. “The world’s industry leaders are coming together for three days of airshows, first-time product reveals, major announcements and inspirational speakers.”

Visionaries from the following organizations are scheduled to attend the 2022 UP.Summit: Airbus, Alaska Airlines, Boeing, Beta, Boeing, FAA (Federal Aviation Administration), Ford, Canoo, Gatik, Goodleap Solar, J.B. Hunt, Joby Aviation, Norse Atlantic Airways, Redwood Materials, Reliable Robotics, Skydio, Stoke Space, Universal Hydrogen, Volocopter, Walmart, Zipline, and many others.

The UP.Summit was founded by UP.Partners, a multi-strategy mobility focused investment firm that forges alliances with some of the world’s most impactful transportation technology companies in an effort to help move people and goods cleaner, faster, safer, and at lower-cost - on the ground, in the air, on the sea, and in space.

The gathering is jam-packed with demonstrations of innovative technical marvels including electric and autonomous aircraft, electric and autonomous cars and trucks, remote-controlled construction equipment, hydrogen-powered yard trucks, drones, and many other prototypes.

But the UP.Summit is about more than just showcasing next-generation products; it’s about producing tangible results. At the 2019 summit, more than $500 million of direct investment was committed by attendees into companies that presented at the event.

Several companies at this year’s UP.Summit are planning major announcements about advancements in the transportation and mobility sectors. Follow UP.Partners social channels and #UPsummit2022 to watch the news unfold in real time.

About UP.Summit

UP.Summit is an annual, invitation-only gathering of the world’s most innovative minds rethinking the future of transportation. Leaders of the most impactful companies moving people and goods gather at the summit each year with the goal of moving people and goods cleaner, faster, safer, and at lower-cost - on the ground, in the air, on the sea, and in space. UP.Summit was founded in 2017 and is jointly organized by UP.Partners, Tom and Steuart Walton, and Ross Perot Jr.

About UP.Partners

Transportation is the underlying fabric of society. UP.Partners invests in the pioneering entrepreneurs who are creating the key enabling technologies that help move people and goods moving people and goods cleaner, faster, safer, and at lower-cost - on the ground, in the air, on the sea, and in space. UP.Partners with some of the world's most innovative investors and companies including Alaska Airlines, ARK Invest, and Woven Capital, the investment arm of Toyota subsidiary Woven Planet Group. UP.Summit convenes the mobility community's brightest minds each year to help humanity go UP. Together, the UP community is transforming the moving world. For more information, visit UP.Partners or follow on Twitter @UpPartnersVC or LinkedIn.

Amanda Horn
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ELGIN, Ill.--(BUSINESS WIRE)--Heritage-Crystal Clean, Inc. (Nasdaq:HCCI) announced that Mark DeVita, CFO, will present at the Stifel 2022 Cross Sector Insight Conference on Wednesday June 8, 2022. Heritage-Crystal Clean’s presentation is scheduled to begin at 8:35 am EDT. The presentation will be webcast live and may be accessed at the following link, https://wsw.com/webcast/stifel68/hcci/2060291or in the investor relations section of the company's website: http://www.crystal-clean.com/investor-relations/

About Heritage-Crystal Clean, Inc.

Heritage-Crystal Clean, Inc. provides parts cleaning, used oil re-refining, and hazardous and non-hazardous waste services primarily to small and mid-sized manufacturers and other industrial businesses as well as customers in the vehicle maintenance sector. Our service programs include parts cleaning, containerized waste management, used oil collection and re-refining, wastewater vacuum, waste antifreeze collection, recycling and product sales, and field services. These services help our customers manage their used chemicals and liquid and solid wastes, while also helping to minimize their regulatory burdens. Our customers include small-to-medium sized manufacturers, such as metal product fabricators and printers, and other industrial businesses as well as businesses involved in vehicle maintenance operations, such as car dealerships, automotive repair shops, and trucking firms. Through our used oil re-refining program during fiscal 2021, we recycled approximately 66 million gallons of used oil into high quality lubricating base oil, and we are a supplier to firms that produce and market finished lubricants. Through our antifreeze program during fiscal 2021 we recycled approximately 3.9 million gallons of spent antifreeze which was used to produce a full line of virgin-quality antifreeze products. Through our parts cleaning program during fiscal 2021 we recycled 2 million gallons of used solvent into virgin-quality solvent to be used again by our customers. In addition, we sold 0.5 million gallons of used solvent into the reuse market. Through our containerized waste program during fiscal 2021 we collected 21 thousand tons of regulated waste which was sent for energy recovery. Through our wastewater vacuum services program during fiscal 2021 we treated approximately 49 million gallons of wastewater. Heritage-Crystal Clean, Inc. is headquartered in Elgin, Illinois, and operates through 91 branches serving approximately 98,000 customer locations.

Heritage-Crystal Clean, Inc.
Mark DeVita, Chief Financial Officer (847) 836-5670
http://www.crystal-clean.com

BAINBRIDGE, Ga.--(BUSINESS WIRE)--Danimer Scientific (NYSE: DNMR) (“Danimer” or the “Company”), a leading next generation bioplastics company focused on the development and production of biodegradable materials, announced today that members of Danimer management will participate in Cowen’s 2^nd Annual Sustainability & Energy Transition Summit to be held virtually on June 7-8, 2022.

About Danimer Scientific

Danimer is a pioneer in creating more sustainable, more natural ways to make plastic products. For more than a decade, its renewable and sustainable biopolymers have helped create plastic products that are biodegradable and compostable and return to nature instead of polluting our lands and waters. Danimer’s technology can be found in a vast array of plastic end products that people use every day. Applications for its biopolymers include additives, aqueous coatings, fibers, filaments, films and injection-molded articles, among others. Danimer holds more than 430 granted patents and pending patent applications in more than 20 countries for a range of manufacturing processes and biopolymer formulations. For more information, visit www.DanimerScientific.com.

Forward Looking Statements

Please note that in this press release we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding our expectations for full year 2022 capital expenditures and Adjusted EBITDA. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, the overall level of consumer demand on our products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of the Company's customers; the Company's ability to implement its business strategy, including, but not limited to, its ability to expand its production facilities and plants to meet customer demand for its products and the timing thereof; risks relating to the uncertainty of the projected financial information with respect to the Company; the ability of the Company to execute and integrate acquisitions; changes in governmental regulation, legislation or public opinion relating to our products; the Company’s exposure to product liability or product warranty claims and other loss contingencies; disruptions and other impacts to the Company’s business, as a result of the COVID-19 global pandemic and government actions and restrictive measures implemented in response; stability of the Company’s manufacturing facilities and suppliers, as well as consumer demand for our products, in light of disease epidemics and health-related concerns such as the COVID-19 global pandemic; the impact that global climate change trends may have on the Company and its suppliers and customers; the Company's ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, our information systems; the ability of our information technology systems or information security systems to operate effectively, including as a result of security breaches, viruses, hackers, malware, natural disasters, vendor business interruptions or other causes; our ability to properly maintain, protect, repair or upgrade our information technology systems or information security systems, or problems with our transitioning to upgraded or replacement systems; the impact of adverse publicity about the Company and/or its brands, including without limitation, through social media or in connection with brand damaging events and/or public perception; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; our ability to utilize potential net operating loss carryforwards; and changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release, and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.

Investors
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Phone: 229-220-1103

Media
Jonathan Houghton
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Phone: 615-515-4892

WALL, N.J.--(BUSINESS WIRE)--New Jersey Resources (NYSE: NJR) today announced the appointment of Tejal K. Mehta as Corporate Secretary and Assistant General Counsel effective June 6, 2022. In this role, Ms. Mehta will serve as the secretary to the board of directors of NJR and its subsidiaries, act as the company’s registered agent and keeper of records, provide oversight of the company’s corporate governance and support NJR’s overall corporate legal function.

“Tejal Mehta is an accomplished lawyer whose proven skills and experience will serve our company, board and customers well,” said Richard Reich, senior vice president and general counsel of New Jersey Resources. “With nearly 15 years of legal experience and a proven record of effectively managing complex regulatory, corporate governance and oversight matters, we are pleased to welcome Tejal to our team.”

Prior to joining NJR, Ms. Mehta served as Senior Counsel and Assistant Corporate Secretary at TD Bank Group, where she was responsible for regulatory compliance, corporate governance policy and corporate secretarial operations for TD's U.S. entities. Before that she was a Senior Associate in the White Collar Defense and Internal Investigations Group and the Securities Litigation Group at Ballard Spahr LLP, a nationally recognized corporate litigation firm.

Ms. Mehta received her juris doctorate cum laude from Villanova School of Law and her bachelor of science degree from Widener University. She clerked for Magistrate Judge Carol Sandra Moore Wells in the Eastern District of Pennsylvania, and is a member of the South Asian Bar Association of Philadelphia Board.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

• New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,600 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex and Burlington counties.

• Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of nearly 370 megawatts, providing residential and commercial customers with low-carbon solutions.

• Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.

• Storage and Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River and the Adelphia Gateway Pipeline Project, as well as our 50% equity ownership in the Steckman Ridge natural gas storage facility.

• Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its over 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.

For more information about NJR:
Visit www.njresources.com.
Follow us on Twitter @NJNaturalGas.
“Like” us on facebook.com/NewJerseyNaturalGas.

Media:
Michael Kinney
732-938-1031
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Investor:
Dennis Puma
732-938-1229
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LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (Nasdaq: EVGO, or the “Company”), the nation’s largest public fast charging network for electric vehicles (EVs), today announced that members of its senior management team will be participating in investor conferences hosted by Bank of America, Evercore ISI, and JP Morgan during the month of June.

In conjunction with the investor meetings at these conferences and elsewhere, EVgo has made available an updated investor presentation which will be accessible on the Events & Presentations section of the Company’s investor relations website at https://investors.evgo.com/.

About EVgo

EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 850 charging locations, EVgo’s owned and operated charging network serves over 60 metropolitan areas across more than 30 states and approximately 375,000 customer accounts. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.

For Investors:
Ted Brooks, VP of Investor Relations
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310-954-2943

For Media:
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Binding commitments received to upsize total commitments under Revolving Credit and Term Loan Agreement by approximately $450 million to at least $920 million

HOUSTON--(BUSINESS WIRE)--Archaea Energy Inc. (“Archaea,” “the Company,” or “we”) (NYSE: LFG), an industry-leading renewable natural gas (“RNG”) company, today announced that one of its subsidiaries has obtained binding commitments from five financial institutions to amend its Revolving Credit and Term Loan Agreement to, among other things, increase aggregate total commitments by approximately $450 million to a total of at least $920 million. The amended and upsized facilities are expected to include an approximately $400 million senior secured term loan credit facility and an approximately $520 million senior secured revolving credit facility (together, the “Amended Facilities”).

Available capacity under the Amended Facilities is expected to be used to finance a portion of the Company’s expected capital expenditures related to its development projects, permitted acquisitions, fees, costs, and expenses related to the Amended Facilities, working capital, and for other general corporate purposes. As a result of significantly expanding and accelerating the pace of developing its project backlog, the Company continues to expect to enter into one or more capital markets or private financing transactions to fund expected capital expenditures.

Among the financial institutions making binding commitments, Comerica Bank (through its Renewable Energy Solutions group) will act as Administrative Agent. Comerica Bank, Citizens Bank, N.A., Bank of Montreal, Chicago Branch, and JPMorgan Chase Bank, N.A. will act as joint lead arrangers and joint bookrunners. Additionally, Citigroup Global Markets Inc. (“CGMI”), on behalf of CGMI, Citibank, N.A., Citicorp North America, Inc., and their affiliates will act as a co-syndication agent.

The financial institutions expect to enter into a syndication process for the Amended Facilities including the Company’s existing bank group and potential new lenders. The amendment and final determination of sizing of the Amended Facilities is expected to be completed before June 30, 2022.

ABOUT ARCHAEA

Archaea Energy Inc. is one of the largest RNG producers in the U.S., with an industry-leading platform and expertise in developing, constructing, and operating RNG facilities to capture waste emissions and convert them into low carbon fuel. Archaea’s innovative, technology-driven approach is backed by significant gas processing expertise, enabling Archaea to deliver RNG projects that are expected to have higher uptime and efficiency, faster project timelines, and lower development costs. Archaea partners with landfill and farm owners to help them transform potential sources of emissions into RNG, transforming their facilities into renewable energy centers. Archaea’s differentiated commercial strategy is focused on long-term contracts that provide commercial partners a reliable, non-intermittent, sustainable decarbonizing solution to displace fossil fuels.

Additional information is available at www.archaeaenergy.com.

FORWARD-LOOKING STATEMENTS

This release contains certain statements that may include 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. Statements that do not relate strictly to historical or current facts are forward-looking and usually identified by the use of words such as “anticipate,” “estimate,” “could,” “would,” “should,” “will,” “may,” “forecast,” “approximate,” “expect,” “project,” “intend,” “plan,” “believe” and other similar words. Forward-looking statements may relate to expectations for future financial performance, business strategies or expectations for Archaea’s business. Specifically, forward-looking statements may include statements concerning the expected closing of the Amended Facilities, the expected use of proceeds therefrom and the expected size thereof. Forward looking statements are based on current expectations, estimates, projections, targets, opinions and/or beliefs of Archaea, and such statements involve known and unknown risks, uncertainties and other factors.

The risks and uncertainties that could cause those actual results to differ materially from those expressed or implied by these forward looking statements include, but are not limited to, the ability to meet the conditions to closing the Amended Facilities; general economic conditions and the possibility that Archaea may be adversely affected by general economic, business and/or competitive factors; and other risks and uncertainties indicated in Archaea’s Annual Report on Form 10-K for the year ended December 31, 2021 and Archaea’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, including those under “Risk Factors” therein, and other documents filed or to be filed by Archaea with the Securities and Exchange Commission.

Accordingly, forward-looking statements should not be relied upon as representing Archaea’s views as of any subsequent date. Archaea does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.

Megan Light
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346-439-7589

Blake Schreiber
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346-440-1627

DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that Scott Rowe, president and chief executive officer, will present at the Cowen Sustainability & Energy Transition Summit on Wednesday, June 8, at 9:50 a.m. ET and at the Stifel 2022 Boston Cross Sector Insight Conference on Thursday, June 9, at 9:45 a.m. ET. Additionally, Flowserve management will host meetings at the UBS Global Industrials and Transportation Conference 2022 in New York City on Tuesday, June 7.

Webcasts of Mr. Rowe’s discussions will be available for shareholders and other interested parties at www.flowserve.com under the “Investor Relations” section.

About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.

Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition. The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.

Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636

Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644