• Raises share buyback guidance to $5 - $10 billion per year
• Increases return on capital employed target to 12% by 2026 at $60 Brent
• Expects operating cash flow per share to grow 10% per year through 2026 at $60 Brent
• Reaffirms carbon intensity reduction and new energies growth targets

NEW YORK--(BUSINESS WIRE)--At its annual investor meeting today, Chevron Corporation (NYSE: CVX) reported on its progress to deliver higher returns and advance a lower carbon future.

“Chevron’s executing a straightforward strategy, grounded in capital and cost discipline,” said Michael Wirth, chairman and CEO. “We’re aiming to grow cash flow and return more of it to shareholders, leveraging our strengths to deliver lower carbon energy to a growing world.”

Higher Returns

Chevron expects to continue to improve capital and cost efficiency to deliver higher returns. In line with this objective, the company announced:

• Maintaining guidance for annual organic capital and exploratory expenditures of $15 billion to $17 billion through 2026.
• A target to reduce 2026 operating expenses per barrel by more than 10% from 2021 levels.
• Expected oil and gas production CAGR greater than 3% by 2026.

The combination of a more capital-efficient investment program, lower unit costs, and higher production is expected to result in a 12% return on capital employed in 2026 and 10% CAGR of operating cash flow per share by 2026, both at $60 Brent. The company also raised its share buyback guidance range to $5 to $10 billion per year, up from prior guidance of $3 to $5 billion per year.

“We have an advantaged portfolio and an industry leading balance sheet,” said Pierre Breber, Chevron’s CFO. “With the increase in our dividend and buybacks in the middle of our updated guidance range, cash returned to shareholders is expected to grow more than 50% from last year.”

Lower Carbon

Chevron reaffirmed its targets to lower the carbon intensity of its operations and grow new energy business lines in renewable fuels, hydrogen, carbon capture and offsets.

“We’re executing projects to lower carbon intensity to progress towards our 2050 net zero aspiration for Upstream Scope 1 and 2 emissions,” said Jay Johnson, executive vice president, Upstream. “We intend to be a leader in cost and carbon efficient production.”

In addition, the company provided updates on renewable fuels, hydrogen and carbon capture projects.

“Chevron’s new energy businesses are making progress towards our 2030 goals,” said Jeff Gustavson, president of Chevron New Energies. “We’re bringing our unique capabilities, in partnership with others, to advance lower carbon energy solutions that target harder-to-abate sectors and deliver competitive returns.”

Winning Combination

Consistent with the company’s long-standing financial priorities, improved cash generation from its traditional business is expected to support a growing dividend, investments in traditional and new energy businesses, a strong balance sheet, and steady buybacks.

“I believe Chevron is well positioned for the future with a leading traditional energy business and faster-growing new energy business lines,” Wirth concluded. “Combined with our strong track record of financial and operating discipline, we expect to deliver on our objective of higher returns and lower carbon that will benefit stakeholders for years to come.”

Webcast

Chevron will conduct a webcast on Tuesday, March 1, 2022, at 10:00 a.m. ET to discuss the company’s strategy at the annual investor meeting.

A webcast of the discussion will be available in listen-only mode to individual investors, media, and other interested parties on Chevron’s website at www.chevron.com under the “Investors” section. Presentations, prepared remarks and full transcript of the meeting will also be available on the Investor Relations website.

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

NOTICE

As used in this news release, the term “Chevron” and such terms as “the company,” “the corporation,” “our,” “we,” “us” and “its” may refer to Chevron Corporation, one or more of its consolidated subsidiaries, or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs.

Please visit Chevron’s website and Investor Relations page at www.chevron.com and www.chevron.com/investors, LinkedIn: www.linkedin.com/company/chevron, Twitter: @Chevron, Facebook: www.facebook.com/chevron, and Instagram: www.instagram.com/chevron, where Chevron often discloses important information about the company, its business, and its results of operations.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management’s current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company's products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company's global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 25 of the company’s 2021 Annual Report on Form 10-K and in other subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this presentation could also have material adverse effects on forward-looking statements.

Braden Reddall
+1 925-842-2209

Attentive Energy establishes long-term presence in the New York Bight and plans to deliver community-first approach following years-long stakeholder engagement

JERSEY CITY, N.J.--(BUSINESS WIRE)--Attentive Energy LLC, a subsidiary of TotalEnergies Renewables USA, LLC, is pleased to announce it has been named a provisional winner of one of the six federal offshore wind leases in the New York Bight auction, which was administered by the Department of the Interior’s Bureau of Ocean Energy Management (BOEM). The successful bid allows Attentive Energy to formalize its long-term presence in the region and focus on delivering a community-first approach as it works to develop the OCS-A 0538 lease – an 84,332-acre area at least 36 miles off the coasts of New York and New Jersey.

“In the last three years, our teams have worked to lay the groundwork to advance an inclusive offshore wind project founded on meaningful stakeholder engagement. We are thrilled to have been successful in obtaining a lease in the New York Bight. This win will afford Attentive Energy the unique opportunity to play our part in carrying this generational economic opportunity forward, establishing well-paying jobs and bringing benefits to local communities for years to come,” said Attentive Energy Managing Director, Damian Bednarz.

“Winning this lease from BOEM enables us to build upon and expand the good work seen thus far in the industry. Our team has already demonstrated deep technical expertise in developing offshore assets and is committed to designing, constructing, and operating a project with the local community in mind. We look forward to continuing our work with federal, state, and local stakeholders to build a world-class workforce and to achieve our shared ambitious climate goals,” added Attentive Energy Project Director, Christen Wittman.

In the years building up to the auction and ultimate award of a lease from BOEM, Attentive Energy focused its efforts on meaningful and proactive stakeholder engagement. The teams consulted federal, state, and local leaders, environmental justice groups, economic development organizations, and suppliers as part of its pre-development work. Prior to the auction, Attentive Energy had the foresight to hire a Fisheries Liaison and publish a Fisheries Communications Plan to create a transparent feedback loop with ocean users and coordinate on best practices offshore. Attentive Energy commits to continue working with communities to inform development throughout the life of the project.

“Attentive Energy’s successful lease award in the New York Bight marks the entrance of TotalEnergies into the U.S. offshore wind market after a decade of activity in this country’s solar and energy storage spaces. We are proud to contribute to the ramp-up of the offshore wind industry here in the United States as part of our corporate goals of reaching 100 GW of renewable energy capacity by 2030 worldwide,” said David Foulon, Head of U.S. Offshore Wind at TotalEnergies. “Attentive Energy’s forward-thinking outlook on stakeholder engagement since 2018 and their proactive engagement with local communities as well as ocean users represent well our Company’s core values and will be extremely valuable as we grow TotalEnergies’ offshore wind activities in the U.S.”

Now a subsidiary of TotalEnergies Renewables USA, LLC – itself an affiliate of broad energy company TotalEnergies – Attentive Energy will draw on TotalEnergies’ deep experience and know-how in safely managing offshore assets and long-standing U.S. presence to deploy its community-first driven mission, staying true to its name to listen, collaborate and partner with stakeholders. Attentive Energy will next focus on developing uniquely local economic and climate opportunities to New York and New Jersey, while also meeting the country’s growing offshore wind and clean energy commitments.

About Attentive Energy

Attentive Energy, a subsidiary of TotalEnergies Renewables USA, is delivering offshore wind opportunities to empower communities today and tomorrow. We are guided by deep experience in the offshore sector and a forward-thinking commitment to put people first, on and off the coast. With the power of offshore wind, we will strengthen our communities, forge a new industry, and build an inclusive clean energy economy. For more information, visit www.attentiveenergy.com.

Attentive Energy on social media

• Twitter: @ThisIsAttentive
• LinkedIn: Attentive Energy

TotalEnergies and offshore wind

TotalEnergies is already developing a portfolio of offshore wind projects with a total capacity of more than 10 gigawatts, of which 2/3 are bottom-fixed and 1/3 are floating. These projects are located in the United Kingdom (Seagreen project, Outer Dowsing, Erebus, ScotWind), South Korea (Bada project), Taiwan (Yunlin project), and France (Eolmed project). The Company has also been qualified to participate in competitive tenders in the UK and France and will participate in a tender in Norway.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

TotalEnergies and renewable electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in renewables and electricity. At the end of 2021, TotalEnergies' gross renewable electricity generation capacity is more than 10 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW by 2030 with the objective of being among the world's top five producers of electricity from wind and solar energy.

Attentive Energy Contacts
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Stafl Systems, Idneo, BSLBATT Battery, and American Battery Solutions join Delta-Q Technologies' compatibility program to facilitate innovation and collaboration among the electric battery, battery management system, charging and equipment sectors.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Delta-Q Technologies (Delta-Q) today announced it has welcomed four additional companies to its partner program, “Charged by Delta-Q.” The new partners are Stafl Systems, Idneo, BSLBATT Battery, and American Battery Solutions. Like existing partners, these companies will have access to the tools, brand association and support to collaborate with Delta-Q in a variety of electric drive markets. This also means that Delta-Q supplied OEMs will now have a curated network of 13 compatible battery and battery management system (BMS) manufacturers that work well with Delta-Q’s charging solutions.

“We are excited to welcome our four new partners to the program," said Rod Dayrit, Director of Business Development, Americas at Delta-Q. "The expansion of this program is an important milestone as we look to advance engagement and collaboration across manufacturers in the electric drive vehicle and industrial equipment sectors. By signifying our compatibility with our battery partners, and now BMS partners, we are able to expand our reach and provide OEMs with a trusted source to secure the highest quality and compatible power solutions that will ultimately expand their businesses.”

The compatibility program, which launched in May 2021, was created to give OEMs confidence that the battery, BMS and charger combination will provide their electric drive products with best-in-class performance, prolonged battery life and maximum uptime. Through the program, OEMs can view tested algorithms and integrations with Delta-Q’s chargers and a variety of batteries and BMS.

“The objective of Delta-Q’s compatibility program is to help our partners increase awareness around the quality and reliability of their battery or BMS,” said Steve Blaine, Co-CEO and EVP of Engineering and Quality at Delta-Q. “We’re excited to continue our long-standing collaboration with our partners and further demonstrate the value of our combined solutions.”

As part of the program, battery and BMS partners receive a “Charged by Delta-Q” marking for use on their products, packaging and marketing materials, which they can utilize as they look to grow their revenue streams and target new industries or regions that Delta-Q currently operates in. The logo signifies to OEMs that the battery or BMS is compatible with Delta-Q’s chargers. During the replacement process, the program will allow the aftermarket to look for the “Charged by Delta-Q” mark on a battery or BMS.

Participating manufacturers will be included in a comprehensive table of product types on Delta-Q’s website. They will also be participating in the ZAPI GROUP’s virtual conference hosted on April 5-7, 2022.

To learn more about Charged by Delta-Q, visit https://hubs.ly/Q01535rb0.

About Delta-Q Technologies

Delta-Q Technologies is charging the future and driving the world’s transition into electric energy! We collaboratively design, test, and manufacture robust battery chargers that improve the performance of our customer’s electric drive vehicles and industrial machines. As the supplier of choice for Tier 1 OEMs, we use our values, perseverance, and engineering expertise to guide our customers through the electrification process for a sustainable world.

We are part of the ZAPI GROUP of companies and headquartered in Vancouver, Canada. Delta-Q’s team and distribution spans across five continents to service industries such as electric golf cars, lift trucks, aerial work platforms, e-mobility, floor care machines, utility/recreational vehicles, and new markets, like outdoor power equipment.

Akanksha Kapil, Delta-Q Technologies
Content Marketing Manager
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AnnMarie Carson, Communiqué PR
Phone: (206) 282-4923 ext. 119
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Julie Blunden joins ZincFive as the first independent member of the Board.

PORTLAND, Oregon--(BUSINESS WIRE)--ZincFive, the world leader in nickel-zinc battery-based solutions, announced today the appointment of Julie Blunden to the Board of Directors. This brings the number of Board members to five. Ms. Blunden will be the first independent member to join the Board since the company’s inception.

For over three decades, Ms. Blunden has rapidly grown emerging energy companies to leaders in their sectors from power generation to retail power, solar, energy storage and EV fast charging. In her executive roles at EVgo, SunPower, Green Mountain Energy, KEMA Xenergy and SunEdison, Ms. Blunden has raised billions of dollars from the public and private capital markets to scale market expansion, manufacturing, and customer acquisition. She has served on multiple energy industry Boards, including the U.S. Energy Storage Association. Ms. Blunden also served as Chief Executive Officer, President and Director of ClimateWorks Foundation. She has an engineering and environmental studies degree from Dartmouth College and a Master of Business Administration from Stanford’s Graduate School of Business.

“I am excited to support the terrific team at ZincFive who are already delivering game changing batteries that are safe, have years of proven reliability and a much lower lifecycle carbon footprint than alternatives,” said Julie Blunden. “ZincFive harnesses The Power of Good Chemistry to create nickel-zinc battery solutions that are good for business, good for people, and good for the planet.”

“We are thrilled to welcome Julie as the first independent member of the Board as we respond to rapidly increasing demand for our mission-critical nickel-zinc batteries,” said ZincFive CEO and Co-Founder Tim Hysell. “Through eight companies, 10 Boards, two private company sales and multiple IPOs, Julie brings a wealth of industry knowledge and a great shared passion for building a more sustainable future for all of us.”

About ZincFive, Inc.

ZincFive is the world leader in innovation and delivery of nickel-zinc batteries, applying transformational technology and solutions that provide the power to advance the world with less harmful impacts. With more than 90 patents awarded, ZincFive leverages safe, sustainable nickel-zinc chemistry within its solutions to provide high power density and performance simultaneous with superior safety and environmental advantages. ZincFive is a privately held company based in Tualatin, Oregon. For more information, visit www.zincfive.com.

Media Contact: Carlos Villacis, Antenna for ZincFive, This email address is being protected from spambots. You need JavaScript enabled to view it.

Company’s unique Clean Energy PPA® enables commercial property owners to meet ESG mandates

SAN DIEGO, Calif.--(BUSINESS WIRE)--Luminia, formerly SD Renewables, has launched a suite of novel financing solutions and an advanced technology platform enabling more commercial properties to access a full range of sustainability improvements. With a track record of financing and developing billions in renewable infrastructure and real estate assets, Luminia’s seasoned leadership team is well positioned to overcome the challenges faced by businesses and commercial property owners in meeting ESG mandates. Luminia’s unique, property-based Clean Energy PPA® and technology platform have already been leveraged by partners across the country. In partnership with Sun Light & Power, Carondelet High School in Concord, California, is one example of a project operating almost exclusively on solar power to drastically reduce its energy bills and carbon footprint.

“Luminia provided us with a financing solution under a very short timeframe, and it turned out to be a better option than what others were providing. Luminia viewed us as a partner and wanted to serve us properly, treat us well and make us a priority – which was extremely important to us,” said Noah Galabow, CFO of Carondelet High School. “The primary measure of success for the project has been the energy savings. It has generated more than we initially expected, and with that we are seeing significant cost savings.”

David Field, co-managing partner of Luminia, previously led the build of one of only five enterprise-grade residential solar sales, origination and finance platforms. This platform scaled to execute more than 8,000 residential solar transactions, totaling over $350 million. Jim Kelly, co-managing partner of Luminia, has over 30 years of experience in commercial real estate, including developing and acquiring more than $1 billion in real estate assets.

“Over the last three decades I have grown acutely aware of the challenges in financing sustainability improvements for the commercial real estate industry. This experience guided our approach to inventing new ways for commercial property owners to achieve their ESG targets,” said Jim Kelly, co-managing partner of Luminia.

Luminia offers first-of-its-kind financing solutions paired with its proprietary technology platform to provide swift access to a suite of sustainability improvements, including solar, electric vehicle charging stations and other energy efficiency upgrades. Partners can now utilize Luminia’s Clean Energy PPA®, Credit Based PPA or C-PACE financing to provide commercial property owners financing without any money down, or any corporate or personal guarantees, to increase net operating income and asset value.

“History has proven how the powerful combination of financing and technology platforms have accelerated the residential clean energy industry. Our all-in-one solution focused on the commercial sector allows our premier channel partners to streamline projects while at the same time delivering exceptional value to their commercial customers,” said David Field, co-managing partner of Luminia.

Through the Luminia platform, partners can perform on-the-spot pricing and proposals, instant property prequalification and a property and portfolio analysis that results in higher volume of customer originations, decreased sales cycle time, and less friction to close transactions.

To learn how EPCs, solar and sustainability professionals are using the Luminia platform to accelerate sales cycles or finance project pipelines, visit luminia.io.

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.

Christine Bennett for Luminia

This email address is being protected from spambots. You need JavaScript enabled to view it. | +1 925.330.4783

Fourth Quarter 2021 Highlights:

• Revenues of $882 million
• Net income available to common stockholders of $52 million, or $1.03 per diluted share
• Adjusted EBITDA of $57 million
• Acquired Amber Resources, a leading Southern California full-service distributor
• Entered strategic partnership with Booster to offer mobile delivery of sustainable fuels
• Carbon reduction of over one million metric tons from fuels produced by REG in the quarter
• Appointed two new members to REG's Board of Directors

Full Year 2021 Highlights:

• Record revenues of $3.2 billion
• Net income available to common stockholders of $212 million, or $4.44 per diluted share
• Adjusted EBITDA of $285 million
• Sales of REG Ultra Clean blends of biodiesel with renewable diesel increased 58%
• Raised a combined $935 million in gross proceeds from equity sale and green bond offering
• Progressed into construction phase of Geismar improvement and expansion project
• Carbon reduction of 4.1 million metric tons from fuels produced by REG for the full year
• Announced global partnership with Manchester United Football Club
• Record safety achievement: 0.23 OSHA incident rate (industry leading performance)

Post Year 2021 Highlights:

• Announced strategic investment in expanded low carbon feedstock processing in Europe
• Launched strategic partnership to advance biodiesel use in marine markets with Bunker Holding Group

AMES, Iowa--(BUSINESS WIRE)--$REGI--Renewable Energy Group, Inc. (NASDAQ:REGI) ("REG" or the "Company") today announced its financial results for the fourth quarter and year ended December 31, 2021.

Revenues for the fourth quarter were $882 million on 148 million gallons of fuel sold, and for the full year were $3.2 billion on 621 million gallons. Net income available to common stockholders was $52 million in the fourth quarter of 2021, and was $212 million for full year. Adjusted EBITDA was $57 million in the fourth quarter of 2021, and was $285 million for the full year.

"Delivering a 46% increase in Adjusted EBITDA over 2020 demonstrates ongoing strong growth and further reflects our focus on operational excellence coupled with an exceptional safety achievement," said Cynthia (CJ) Warner, REG President and Chief Executive Officer.

Warner continued, "REG was recently named to the 2022 Carbon Clean200 list by Corporate Knights and As You Sow. As one of only two energy firms making the list, we are proud to be a leader in the transition to sustainability by providing low carbon fuels from renewable resources that help our customers achieve their climate goals NOW."

Fourth Quarter 2021 Highlights

All figures refer to the quarter ended December 31, 2021, unless otherwise noted. All comparisons are to the quarter ended December 31, 2020, unless otherwise noted.

The table below summarizes REG’s financial results for the fourth quarter of 2021.

REG sold 148 million total gallons of fuel, a decrease of 2%. Self-produced North American biodiesel sales were down 9 million gallons driven primarily by the closure of the Company's Houston facility in the quarter and other optimization choices. Self-produced European biodiesel sales were down 3 million gallons due to supply chain issues. Third party renewable diesel sales increased 8 million gallons, due to an increase in the sale of REG Ultra Clean gallons.

REG produced 122 million gallons of biodiesel and renewable diesel, a decrease of 5%. North American biodiesel production decreased 7 million gallons and European biodiesel production decreased 3 million gallons, both due to the same factors described above for volumes sold. Renewable diesel production at our Geismar, Louisiana facility increased 3 million gallons, due to the lapping of unplanned downtime in the fourth quarter of 2020 as well as continued strong run rates.

Revenues increased from $548 million to $882 million, largely driven by higher selling prices from a combination of an 86% increase in ULSD prices and a 69% increase in D4 RIN prices year over year, offset partially by fewer gallons sold.

Gross profit was $84 million compared to gross profit of $66 million in the fourth quarter of last year. The increase in gross profit was driven by a strong HOBO + 1.5x RIN spread, a $20 million increase in LCFS credit monetization due to the Company's downstream strategy, higher raw material trading and co-products gross profit, and a positive $22 million swing in risk management. These increases were partially offset by increased waste-based feedstock costs resulting in margin compression.

Operating income was $43 million compared to $31 million for the fourth quarter of 2020, driven by the same factors as those described above for gross profit, along with higher selling, general and administrative costs of $8 million, primarily due to a one-time bad debt expense write off as well as increases in travel and marketing costs.

Net income available to common stockholders was $52 million, or $1.03 per share, on a fully diluted basis, compared to $27 million, or $0.60 per share on a fully diluted basis, in the fourth quarter of 2020. The factors driving this difference are the same as those described above for operating income along with a $19 million tax benefit that primarily resulted from the release of a valuation allowance reserve in the US related to the Company's Amber Resources acquisition and the release of a valuation allowance in Europe, partially offset by an increase in interest expense from the green bonds.

Adjusted EBITDA was $57 million compared to $46 million, with the increase resulting from the same factors described above.

At December 31, 2021, REG had cash and cash equivalents, restricted cash, and marketable securities (including long-term) of $960 million, an increase of $603 million from December 31, 2020. The increase in cash and cash equivalents is primarily due to the $535 million in funding, net of fees, from the Company's green bond issuance as well the $365 million in funding, net of fees, from the Company's equity raise, offset by cash used to pay off debt, for the Amber Resources acquisition, and for capital expenditures.

At December 31, 2021, accounts receivable were $158 million, an increase of $15 million from December 31, 2020. Accounts payable at the end of the quarter were $163 million, an increase of $30 million versus the previous year. The value of the Company's inventory at the end of the quarter was $454 million, a $244 million increase from the end of the previous year mostly due to rising commodity values.

Full Year 2021 Results

All figures refer to the year ended December 31, 2021, unless otherwise noted. All comparisons are to the year ended December 31, 2020, unless otherwise noted.

REG sold 621 million total gallons, a decrease of 4% compared to 651 million gallons in 2020. North America biodiesel sales declined 27 million gallons, driven largely by optimization choices and the closure of the Houston facility. Lower margin petroleum diesel sales also decreased by 10 million gallons. These volume declines were partially offset by an 18 million gallon increase in the sale of third party renewable diesel gallons, due to an increase in the sale of REG Ultra Clean gallons.

REG gallons produced for the year decreased 7%, from 519 million gallons in 2020 to 480 million gallons in 2021. North American biodiesel production was down 32 million gallons, or 8%, primarily due to Houston shut down and production optimization choices cited above. Renewable diesel production was largely flat year over year in spite of the impact of Hurricane Ida on 2021 production.

Revenues increased from $2.1 billion to $3.2 billion, or 52%. The increase was largely driven by higher selling prices from a combination of a 134% increase in D4 RIN prices and a 66% increase in ULSD prices year over year, partially offset by fewer gallons sold.

Gross profit was $370 million, compared to gross profit of $268 million. The increase in gross profit was driven by a stronger margin environment, various optimization factors, including a $28 million increase in LCFS credit monetization and an improved sales mix, as well as a benefit from opportunistic feedstock sourcing. The HOBO + 1.5x RIN spread was up 14% year-over-year, and the overall margin improvement was reflected in the increase in gross profit from separated RINs, which was up $193 million year over year, mostly due to the price increase but also due to increased RIN monetization through execution of the Company's downstream optimization strategy. The increase in gross profit was partially offset by increased feedstock costs, which worked in tandem with D4 RIN pricing to keep the HOBO + 1.5x RIN spread relatively stable, and risk management gains that were $35 million less than full year 2020.

Operating income was $223 million compared to $127 million for the full-year 2020, driven by the same factors as those described above for gross profit. This increase was partially offset by a $21 million increase in selling, general, and administrative costs, primarily driven by increases in wages and benefits and legal expenses, and a one-time bad debt expense write off.

Net income available to common stockholders was $212 million, or $4.44 per share on a fully diluted basis for 2021, compared to $120 million, or $2.76 per share on a fully diluted basis for 2020. The factors driving this difference are the same as those described above for operating income along with an increase in interest expense from the green bonds and a $14 million tax benefit, that is primarily resulting from the release of a valuation allowance reserve in the U.S. related to the Company's Amber Resources acquisition as well as the release of a valuation allowance in Europe, offsetting overall tax expense through the third quarter.

Adjusted EBITDA was $285 million compared to $196 million, with the increase resulting from the same factors described above.

Reconciliation of Non - GAAP Measures

The Company uses earnings before interest, taxes, depreciation and amortization, adjusted for certain additional items, identified in the table below, or Adjusted EBITDA, as a supplemental performance measure. Adjusted EBITDA is presented in order to assist investors in analyzing performance across reporting periods on a consistent basis by excluding items that are not believed to be indicative of core operating performance. Adjusted EBITDA is used by the Company to evaluate, assess and benchmark financial performance on a consistent and a comparable basis and as a factor in determining incentive compensation for company executives.

The following table sets forth Adjusted EBITDA for the periods presented, as well as a reconciliation to net income (loss) determined in accordance with GAAP for the applicable period:

Adjusted EBITDA is a supplemental performance measure that is not required by, or presented in accordance with, generally accepted accounting principles, or GAAP. Adjusted EBITDA should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP, or as an alternative to cash flows from operating activities or a measure of liquidity or profitability. Adjusted EBITDA has limitations as an analytical tool, and should not be considered in isolation, or as a substitute for any of the results as reported under GAAP. Some of these limitations are:

• Adjusted EBITDA does not reflect cash expenditures or the impact of certain cash clauses that the Company considers not to be an indication of ongoing operations;
• Adjusted EBITDA does not reflect changes in, or cash requirements for, working capital requirements;
• Adjusted EBITDA does not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on indebtedness;
• Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and Adjusted EBITDA does not reflect cash requirements for such replacements;
• Stock-based compensation expense is an important element of the Company’s long term incentive compensation program, although the Company has excluded it as an expense when evaluating our operating performance; and
• Other companies, including other companies in the same industry, may calculate these measures differently, limiting their usefulness as a comparative measure.

Cancellation of Earnings Conference Call and Suspension of Guidance

As announced yesterday, February 28, 2022, REG has entered into an agreement to be acquired by Chevron for $61.50 per share in cash. In light of the transaction with Chevron, REG will not be holding a conference call to discuss these results. The Company will also not be providing financial guidance for the first quarter or fiscal year 2022 as a result of the pending transaction.

About Renewable Energy Group

Renewable Energy Group is leading the energy and transportation industries’ transition to sustainability by converting renewable resources into high-quality, sustainable fuels. Renewable Energy Group is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. Renewable Energy Group utilizes a global integrated procurement, distribution and logistics network to operate 11 biorefineries in the U.S. and Europe. In 2021, Renewable Energy Group produced 480 million gallons delivering 4.1 million metric tons of carbon reduction. Renewable Energy Group is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.

Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding REG’s growth and strategy. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: the inability to consummate or obtain shareholder or regulatory approval of, or satisfy the other conditions to, REG’s proposed merger with Chevron Corporation (the “Merger”); the effect of the announcement of the Merger on the ability of REG to retain and hire key personnel and maintain relationships with its customers, suppliers and others with whom it does business; the effect of the announcement of the Merger on REG’s operating results and business generally or that it interrupts or disrupts REG’s current plans or diverts management’s attention from its ongoing business; the amount of costs, fees and expenses related to the Merger; the nature, cost and outcome of any litigation and other legal proceedings, including any such proceedings related to the Merger and instituted against REG and others; the amount of costs, fees and expenses related to the Merger; the risk that REG’s stock price may decline significantly if the Merger is not consummated, the risk that the merger agreement may be terminated in circumstances requiring REG to pay a termination fee; the impact of COVID-19 on REG’s business and operations, financial performance, including revenues, cost of revenues and operating expenses; changes in governmental programs and policies requiring or encouraging the use of biofuels, including RFS2 on the federal level, and on the state level, programs such as California’s Low Carbon Fuel Standard; availability of federal and state governmental tax incentives and incentives for biomass-based diesel production; changes in the spread between biomass-based diesel prices and feedstock costs; the availability, future price, and volatility of feedstocks; the availability, future price and volatility of petroleum and products derived from petroleum; risks associated with fire, explosions, leaks, weather related events and other natural disasters at REG’s facilities; any disruption of operations at the Geismar renewable diesel refinery (which would have a disproportionately adverse effect on REG’s profitability); the effect of excess capacity in the biomass-based diesel industry and announced large plant expansions and potential co-processing of renewable diesel by petroleum refiners; unanticipated changes in the biomass-based diesel market; potential failure to comply with government regulations; competition in the markets in which the Company operates; technological advances or new methods of biomass-based diesel production or the development of energy alternatives to biomass-based diesel; the Company’s indebtedness and compliance, or failure to comply, with restrictive and financial covenants in our various debt agreements; risks associated with customer negotiations; and other risks and uncertainties described in the Company’s annual report on Form 10-K for the year ended December 31, 2020 and subsequent periodic filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release and the Company does not undertake to update any forward-looking statements based on new developments or changes in its expectations.

Renewable Energy Group
Todd Robinson
Deputy CFO & Treasurer
+1 (515) 239-8048
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Senior executives from Williams will join global energy leaders at the world’s preeminent energy conference, March 7-11 in Houston

TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) President and Chief Executive Officer Alan Armstrong will join the world’s energy industry leaders, experts, government officials and policymakers, as well as leaders from the technology, financial and industrial communities at the 40th annual CERAWeek by IHS Markit, to be held in-person March 7-11 in Houston.

Mr. Armstrong will address delegates in the Plenary: Building Energy Infrastructure for Tomorrow on Wednesday, March 9 at 5:20 p.m. Central Time. The session will address the future of energy infrastructure, including the role of natural gas in meeting growing energy demand while reducing emissions and scaling renewables.

Senior Vice President of Corporate Strategic Development Chad Zamarin is scheduled to speak on the panel North American Gas Market Outlook: More volatility ahead? on Wednesday, March 9 at 12 p.m. The session will discuss future trends in the natural gas market, including the role of renewables such as hydrogen, as well responsibly sourced gas.

Williams executives will also participate in the CERAWeek Innovation Agora, which serves as the center of technology and innovation programming at the event. Brian Hlavinka, vice president of Williams New Energy Ventures, will participate in the Agora Studio Session: Technologies to Reduce Scope 1 and Scope 2 Emissions in Downstream and Midstream on Tuesday, March 8 at 10:30 a.m. Mr. Hlavinka will also speak in the Agora Hydrogen Hub Amphitheater: Pipelines to Prosperity on Tuesday, March 8 at 5:30 p.m. Angela John, director of innovation, is scheduled to speak in an Agora Pod on Responsibly Sourced Gas (RSG) on Thursday, March 10 at 10:30 a.m.

About Williams

Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use.

MEDIA:
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(800) 945-8723

INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075

Grace Scott
(918) 573-1092

• New L1000 model offers high 2600µmol/s output
• 3600µmol/s Arize® Element L2000 for higher yields and optimized retrofits
• Expanded range to offer customers greater flexibility and choice

CLEVELAND--(BUSINESS WIRE)--GE Current, a Daintree company has today unveiled two new, high-efficiency and high-performance members of its Arize Element family. The latest L1000 model offers an increased maximum output of up to 2600µmol/s, adding a new option to the existing L1000 portfolio, which already features efficacy-oriented models that offer up to 3.6µmol/J. With the all-new, 3600µmol/s Arize Element L2000, Current is giving growers a wider variety of options than ever before when designing a lighting plan that’s optimized for their greenhouse operations.

Following the same design as the Arize Element L1000 Next-Gen, the new L1000 model features an ultra-slim form factor, a choice of eight tailored light spectra and Current’s proprietary XW Optic to ensure uniform light dispersion across a wider area. This version is designed as a 1:1 replacement for HPS fixtures, helping to boost productivity and reduce energy costs. The L2000 consumes 1000W, and its next-gen XW optic spreads light even wider than the L1000, further reducing fixture count and increasing yields in HPS retrofit applications.

“Every greenhouse operation is different, with different production considerations and priorities,” said Bruno D’Amico, Global Product Manager for Horticulture Lighting at Current. “When our product experts, plant scientists and lighting designers tackle a new project, they account for every potential variable to develop the lighting plan that will deliver the best possible results for the customer. Challenges could range from cost control or boosting productivity to a completely different goal. With these new, high-performance models, our aim is to give customers greater control over the balance they strike between the variables that are most important to them.”

For more information on the full Arize Element portfolio, as well as Current’s complete range of horticultural lighting solutions, from HPS to LED, please visit https://www.gecurrent.com/

About GE Current, a Daintree company:

Current enhances commercial and industrial facilities, cities, greenhouses and all specialty applications in between with advanced lighting and intelligent controls. Working with our partners, we deliver the best possible outcomes for our customers. Current harnesses the power of light to enable never-before-possible methods of farming, ushering in a new era of agriculture. We aim to build a world where growers can produce higher yields, cultivate with greater precision, and grow sustainably, locally and year-round to fuel a brighter future. See why Current is always on at www.gecurrent.com.

Media:
Jim Benson
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216-534-4155

New Clean Tech that Produces Low-Cost Electricity from Slow Moving Water & Wind

HOUSTON & NEW IBERIA, La.--(BUSINESS WIRE)--Waterotor International Corp., a hydrokinetic energy company, unveiled its Megarotor system design today called “The Big Cajun” at the Floating Wind Solutions 2022 convention in Houston, Texas.

The 20-megawatt Big Cajun is the first hybrid ocean system that simultaneously extracts energy from slow-moving water and wind. This worldwide, patented technology utilizes unique rotor stacks in any water speed and conventional wind turbines to extract large amounts of power.

Currently, under development in Louisiana, the Big Cajun is Waterotor’s first commercial ocean deployment. Its first application allows Big Oil to reduce its carbon footprint and drastically reduce costs by replacing diesel-generated electricity production on platforms that each consumes 33,000 gallons of fossil fuel per day at an annual cost of over $70 million.

“Waterotor’s technology will provide access to a massive, untouched source of renewable energy for the first time,” said Fred Ferguson, Waterotor’s Founder & CEO. “No one has successfully commercialized energy production from flat moving water. This is the beginning of a new era.”

“Within the next year, we expect a major global corporation and/or power company to license our technology for ocean-produced electricity,” Ferguson said.

Waterotor has identified several potential sites for The Big Cajun, including an initial site located off Suriname and Guyana. Western boundary currents are among the fastest non-tidal ocean currents on Earth, reaching speeds of more than five miles per hour (2.5 meters per second) and containing as much as 100 times the combined flow of the world's rivers.¹

The Big Cajun is being developed with major contractors under the direction of marine architect Herman J. Schellstede. This project will be a boost to American manufacturing and Louisiana’s economy.

U.S. Capital Global (USCG), San Francisco-based investment banking firm, is engaged by Waterotor to raise further funding for the project.

For more information about The Big Cajun, go to www.waterotor.com.

____________________
¹ Ref: Woods Hole Oceanographic Institute

Gail Gitcho
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CLEARWATER, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, today announced that its Board of Directors approved an extension of its previously announced stock repurchase plan authorizing the Company to repurchase up to a total of 10 million shares of its common stock during the period ending March 31, 2024. The new repurchase plan extends the March 2020 plan, which authorized the repurchase of up to 10 million shares through March 31, 2022, of which approximately 700,000 shares had been repurchased as of February 24, 2022. Under the plan, the Company may purchase common stock from time to time in the open market or in privately negotiated block purchase transactions.

The amount and timing of any purchases will depend upon a number of factors, including the price and availability of the Company's stock and general market conditions. The Company intends to repurchase shares to mitigate the dilutive effect of restricted stock and shares repurchased may be reserved for later reissue in connection with employee benefit plans and other general corporate purposes.

As of February 9, 2022, the Company had 21,884,062 shares of common stock outstanding.

About MarineMax
MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 79 retail dealership locations, which includes 31 marinas or storage operations. Through Fraser Yachts and Northrop and Johnson, the Company also is the largest super-yacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufactures boats and yachts with sales through our select retail dealership locations and through independent dealers. Intrepid Powerboats, a MarineMax company, manufactures powerboats and sells through a direct-to-consumer model. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also operates Boatyard, a pioneering digital platform that enhances the boating experience. MarineMax is a New York Stock Exchange-listed company (NYSE: HZO). For more information, please visit www.marinemax.com.

Forward Looking Statement

Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those regarding the Company’s potential repurchases of its common stock. These statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks include significant changes in the price and availability of the Company’s stock, general economic conditions, as well as those within our industry, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2021 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investors:
Michael H. McLamb
Chief Financial Officer
727-531-1700

Brad Cohen or Dawn Francfort
ICR, LLC
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Media:
Abbey Heimensen
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MarineMax, Inc.

Transaction allows Energy Transfer to redeploy capital within its core footprint in the U.S.

DALLAS--(BUSINESS WIRE)--Energy Transfer LP (NYSE: ET) today announced the signing of a definitive agreement to sell its 51 percent interest in Energy Transfer Canada ULC (Energy Transfer Canada) to a joint venture which includes participation by Pembina Pipeline Corporation and global infrastructure funds managed by KKR at a valuation of approximately C$1.6 billion (US$1.3 billion) including debt and preferred equity. The sale is expected to result in cash proceeds to Energy Transfer of approximately C$340 million (US$270 million), subject to certain purchase price adjustments. The transaction is expected to close by the third quarter of 2022.

Energy Transfer Canada, based in Calgary, is one of Alberta’s largest licensed gas processors. Its assets include six natural gas processing plants that have a combined operating capacity of 1,290 million cubic feet per day and a network of approximately 848 miles of natural gas gathering and transportation infrastructure in the Western Canadian Sedimentary Basin.

The agreement allows Energy Transfer to divest its high-quality Canadian assets at an attractive valuation to further deleverage its balance sheet and redeploy capital within its U.S. footprint.

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

For more information, visit the Energy Transfer LP website at energytransfer.com.

Forward Looking Statements

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

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

Media Relations
Vicki Granado
Lisa Coleman
214-840-5820
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LONDON--(BUSINESS WIRE)--I Squared Capital, through its ISQ Global Infrastructure Fund III, has formed Cube Cold Europe, a cold storage infrastructure platform to invest up to $350 million in cold storage facilities across strategic areas, such as ports and logistics hubs, in Europe. The platform has assembled a portfolio with 75,000 square meters of capacity for approximately 90,000 pallets across two seed assets in the Benelux region and serving customers near the ports of Antwerp, Bruges, Ghent, and Rotterdam. Cube Cold Europe recently completed its second acquisition with Northfreeze, a leading independent cold storage and temperature-controlled transportation provider in Belgium and has identified a substantial pipeline of high-quality acquisition targets.

Cold storage is an essential service that performed well throughout the Covid-19 pandemic as supply chain disruptions created increased demand for storage across many industries.

“We see strong growth potential for cold storage from the globalization of trade, secular shifts in consumer behaviors, and the growing complexity of global food supply chains. In Europe in particular, the sector is highly fragmented, and we see an opportunity to employ our expertise in building complex and versatile infrastructure platforms,” said Mohamed El Gazzar, Partner of I Squared Capital in London. “We are looking for additional assets in strategic locations that could benefit from operational optimization and innovation. For example, as cold storage facilities are high energy users, we plan to install renewables or other on-site generation facilities to ensure resilience, manage costs and lower carbon emissions.”

About I Squared Capital: I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, digital infrastructure, transport and social infrastructure in North America, Europe, Latin America and Asia. The firm has offices in Hong Kong, London, Miami, New Delhi, Singapore and Taipei.

Andreas Moon, Managing Director and Head of Investor Relations
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BOSTON--(BUSINESS WIRE)--Cabot Corporation announced that it has completed its previously announced acquisition of Tokai Carbon (Tianjin) Co., Ltd from Tokai Carbon Group.

The acquisition expands Cabot’s manufacturing capacity to support the growth of its Battery Materials product line, while continuing to serve existing carbon black customers. The site can currently produce up to 50,000 metric tons of carbon black annually. As conductive carbon additives play a key role in battery chemistry and performance, Cabot plans to invest to upgrade the capabilities of the site to produce battery grades to support the rapid development and growth in lithium-ion batteries driven by increased electrification of the vehicle fleet.

“Lithium-ion batteries is one of the fastest growing end markets, and our customers value us as a strategic partner and industry leader in conductive carbon additives. This acquisition directly aligns with our strategy to invest for advantaged growth while developing innovative products and processes ​that enable a more sustainable future,” said Cabot President and Chief Executive Officer Sean Keohane. “We are pleased to complete this acquisition and officially welcome our new colleagues to Cabot. We are committed to investing in and connecting the capabilities across our carbon black network to further help our customers accelerate innovation, while leading in performance and sustainability.”

Cabot will also invest in advanced environmental controls to continue to operate responsibly and in compliance with local regulations, while actively working to reduce its own impact. The first phase of upgrades and conversion to battery materials is anticipated to be completed by early 2024.

ABOUT CABOT CORPORATION

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of carbon black, specialty carbons, elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed silica and aerogel. For more information on Cabot, please visit the company’s website at cabotcorp.com.

ABOUT TOKAI CARBON CO., LTD. (TOKAI CARBON)

Founded in 1918 and headquartered in Tokyo, Japan, Tokai Carbon has for over 100 years been the market leader in a broad range of high-quality carbon and graphite products servicing numerous global customers in wide range of industries such as steel, aluminum, autos, semiconductors, and electronic components. Tokai Carbon maintains a global network of over 40 business locations across 10 countries in Asia, Europe and North America. It posted consolidated sales of JPY 259 billion and total assets of JPY 513 billion in the fiscal year ending December 31, 2021. Tokai Carbon is listed on the Tokyo Stock Exchange. For further information: www.tokaicarbon.co.jp/en/

Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release involving the Company that are not statements of historical fact are forward-looking statements and are subject to risks and uncertainties inherent in projecting future conditions, events, and results. Such forward looking statements include statements regarding Cabot’s expectations pertaining to the timing of plant upgrades and conversion to battery materials. Such expectations are based upon certain preliminary information, internal estimates and management assumptions, expectations, and plans. For a discussion of the risks and uncertainties that could cause results to differ from those expressed in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K.

Vanessa Craigie
Corporate Communications
(617) 342-6015

Steve Delahunt
Investor Relations
(617) 342-6255

Letter of Understanding opens the door for Fuel Me and its 1,200+ vendors to bridge the fuel-procurement gap through automation and cloud services

PHOENIX--(BUSINESS WIRE)--$BZWR #SEO--Business Warrior Corp. (OTC: BZWR), the source for small businesses in America to get more customers, today announces a letter of understanding (LOU) with Fuel Me, the first-of-its-kind technology platform providing nationwide fuel procurement and management services, to fund up to $25 million in loans from March 1, 2022, to Dec. 31, 2023, through the new Business Warrior Funding platform.

Business Warrior Funding is the newest small business solution from Business Warrior. The recently launched platform uses next-generation underwriting, powered by machine learning, to make the funding process accessible and streamlined to business owners across the United States. This new lending solution leverages Business Warrior’s expertise and strategic partnerships to help entrepreneurs grow their business and offset the difficulties often associated with traditional bank lending.

Fuel Me has leveraged decades of experience in the energy distribution industry to develop an innovative and disruptive technology solution, alongside a network of more than 1,200 vendors nationwide. Fuel Me delivers fuels, such as clear or red dye diesel for trucks, machinery, generators or tanks, anywhere and at any time. The company also offers marina services and has developed a virtual fuel card to make tracking purchases simple and easy. Fuel Me is revolutionizing fuel procurement while expanding clean energy product initiatives and positioning itself as the energy distribution solution of the future.

“Partnering with Fuel Me is a perfect fit for Business Warrior Funding and our core mission to shorten the time it takes for small businesses to access growth funding,” explains Business Warrior President Jonathan Brooks. “This agreement is an amazing early win for the long-term vision of our funding product, giving us the ability to further develop and scale our software and operations with the support of a proven company in Fuel Me.”

The deal was facilitated by elev8 Advisors Group, a leading fintech consultancy group with a proven track record of providing value-added products and programs in the marketplace.

Business Warrior Funding and Fuel Me have agreed to an LOU that will give Fuel Me and its customer base access to $25 million in loan commitments for 18 months. All funds from this partnership will go to small businesses and will lead to additional funding and growth opportunities for Fuel Me’s growing number of vendors.

“Fuel Me aims to empower small businesses by offering cost-effective fueling and enterprise resource management solutions,” states Fuel Me President Bill Marr. “With Business Warrior Funding, we see a natural partner who will help us to engage with our vendor base and encourage more small business owners who just need that extra financial push.”

About Fuel Me

Fuel Me LLC is a technology company offering a modular service platform designed to deliver contactless, managed fuel & energy services for fleets, marine vessels, heavy equipment, power generation, race teams and venues. Fuel Me also offers the first Fleet Suite Utility Wallet, allowing customers to purchase fuel with a virtual fuel card, using NFC technology at the pump. Through our EV Fuel Me division, we offer a complete line of portable generators and supercharging stations that are 100% Green Compliant (by way of our patented CNG process), as well as on-demand contactless charging nationwide. Our mission is to be the worldwide leader in managed vehicle fuel and charging for both consumers and commercial clients. Our delivery strategy and business model will increase asset utilization, boost profits, eliminate inefficiency and improve safety standards across the industry. For more information, visit www.fuel.me.

About Business Warrior

Business Warrior is a SaaS company providing small businesses in the United States with a suite of data driven marketing and next-generation, funding solutions to boost local market domination. Founded in 2014, Business Warrior is singularly focused on offering locally targeted lead generation marketing and funding solutions that fuel small business growth. By using next generation machine-learning and native software, Business Warrior has made growth funding and conversion marketing accessible for thousands of under-resourced and under-funded small business owners. For more information, visit BusinessWarrior.com.

About elev8 Advisors Group

Elev8 Advisors Group is an omni-channel leader in the payments and fintech space with a deep-rooted history in the financial services industry. Elev8 collaborates with and advises disruptors in the payments ecosystem to create scale and product adoption in all markets and has helped dozens of banks and fintech companies grow their actual profits to more than $2.4B since 2019. Elev8 is changing the expectations of consulting to be that of partnerships and win/win outcomes for all and is one of the fastest growing privately held companies in the United States.

Forward Looking Statements:

This press release and the offering materials may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. Forward-looking statements are neither historical facts nor assurances of future performance. They are based on the current beliefs of, assumptions made by, and information currently available to the company's management regarding the future of the company’s business, future plans and strategies, anticipated events and trends, the economy and other future conditions. When used in the offering materials, the words "aim," "estimate," "project," "believe," "anticipate," "intend," "envision," "estimate," "expect," "future," "goal," "hope," "likely," "may," "plan," "potential," "seek," "should," "strategy," "will" and similar references to future periods are intended to identify forward-looking statements, which constitute forward looking statements. These statements reflect management’s current views with respect to future events and are subject to inherent risks, uncertainties and changes in circumstances that are difficult to predict (many of which are outside of the company's control) and could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. All subsequent written and oral forward-looking statements concerning the company, the offering or other matters, are expressly qualified in their entirety by the cautionary statements above. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

Investor Relations:
Jonathan Brooks
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(855) 884-5805

Customer Relations:
Boy Schook
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(866) 417-9153

WALTHAM, Mass.--(BUSINESS WIRE)--PerkinElmer, Inc. (NYSE: PKI), a global leader committed to innovating for a healthier world, today announced that the Company will present at the Cowen 42^nd Annual Health Care Conference and the Barclays Global Healthcare Conference.

Cowen 42nd Annual Health Care Conference - Virtual
Monday, March 7, 2022
10:30 a.m. ET - Jamey Mock, senior vice president and chief financial officer

Barclays Global Healthcare Conference - Miami, FL
Tuesday, March 15, 2022
1:30 p.m. ET - Prahlad Singh, president and chief executive officer

Attendees will receive an overview of the Company and its strategic priorities.

Live audio webcasts will be available on the Investors section of the Company’s website at www.perkinelmer.com. A replay of the presentations will be posted on the PerkinElmer website after the event and will be available for 90 days following.

About PerkinElmer
PerkinElmer, Inc. is a global leader focused on innovating for a healthier world. The Company reported revenue of approximately $5.0 billion in 2021, has more than 16,000 employees serving customers in 190 countries, and is a component of the S&P 500 Index. Additional information is available at www.perkinelmer.com.

Investor Relations:
Steve Willoughby
(781) 663-5677
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Media Relations:
Chet Murray
(781) 663-5719
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The Dells’ fund will match donations up to $18 million to fund Mercy Ships future

GARDEN VALLEY, Texas--(BUSINESS WIRE)--Michael and Susan Dell have committed an $18 million match through a charitable fund at Vanguard Charitable to help secure funding for this next season of Mercy Ships transformable work.

This is an important year for Mercy Ships, an international non-profit organization that uses hospital ships to deliver free, world-class healthcare services to the developing world, as they recently launched a new hospital ship, the Global Mercy®. Serving alongside the Africa Mercy®, the new ship will help Mercy Ships more than double its impact in providing free medical care for some of the world’s poorest people in Africa.

The most current data shows that 93% of people living in the “bottom billion” -- in reference to the one billion people who live in low- and middle-income economies in terms of healthcare outcomes -- reside in sub-Saharan Africa. This means those suffering from painful, isolating, and often preventable diseases are unable to find the healing they so desperately need.

“We are deeply grateful for this generous gift and commitment from Michael and Susan Dell in support of Mercy Ships mission to deliver hope and healing in sub-Saharan Africa. We place a high value on such partnerships and are humbled and thankful for their support of our organization,” said Don Stephens, Founder of Mercy Ships.

This March, partners from around the world will be gathering in the Netherlands for a Founder’s Weekend with Mercy Ships founders Don and Deyon Stephens. During their time together, guests will tour the Global Mercy and be invited to invest in the $18 Million match to help fund the operating expenses and life-transforming work on board Mercy Ships for the next 50 years.

“The important work of Mercy Ships brings both lifesaving healthcare and deep compassion to communities across Africa. Michael and I are honored to be part of the next chapter of Mercy Ships, which will bring more opportunities for healing to those who need it most,” Susan Dell, co-founder and board chair of the Michael & Susan Dell Foundation, said.

With the debut of the Global Mercy, more volunteers will be needed. Currently, the Africa Mercy draws volunteers from over 60 nations – surgeons, nurses, dentists, healthcare trainers, chefs, teachers, seafarers, as well as many more professions. Information on financial support or volunteering can be found at www.mercyships.org.

ABOUT MERCY SHIPS

Mercy Ships uses hospital ships to deliver free, world-class healthcare services, capacity building, and sustainable development to those with little access in the developing world. Founded in 1978 by Don and Deyon Stephens, Mercy Ships has worked in more than 55 developing countries, providing services valued at more than $1.7 billion and directly benefitting more than 2.8 million people. Our ships are crewed by volunteers from over 60 nations, with an average of over 1200 volunteers each year. Professionals including surgeons, dentists, nurses, healthcare trainers, teachers, cooks, seamen, engineers, and agriculturalists donate their time and skills. With 16 national offices and an Africa Bureau, Mercy Ships seeks to transform individuals and serve nations. For more information go to www.mercyships.org.

Laura Rebouché
U.S. National Media Relations Director
Mercy Ships
Office: +1-903.939.7000
Direct: +1 903.939.7127
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Project to be developed in partnership with the New South Wales Government in Parkes, NSW

SAN FRANCISCO & PARKES, Australia--(BUSINESS WIRE)--Brightmark, the global waste solutions provider, today announced plans to construct an advanced plastics renewal facility for the Parkes Special Activation Precinct in New South Wales (NSW), Australia.

With the establishment of this new facility, Brightmark will be the first new circular economy business in the Parkes Special Activation Precinct, as well as the first-of-its-kind advanced recycling, plastics renewal facility in Australia. Brightmark will be constructing the facility in partnership with the NSW Government, as part of its commitment to drive economic growth and prosperity in regional NSW.

“Brightmark is excited to expand our waste solution footprint into Australia, setting the new gold standard in advanced plastic recycling," said Bob Powell, Brightmark Founder, and CEO. “Collaborating with the NSW Government in their Parkes precinct is ideal due to the sustainably-minded business environment and community; and its location as a transportation and logistics hub.”

“We are excited to be building what will be the largest facility of its type outside of America. Processing up to 200,000 tons of waste plastics back into the circularity market, creating import replacement products and assisting Australia to lower its carbon footprint,” said Shakil Rahman, Brightmark Senior Vice President, Global Plastics Development and Origination.

The facility will re-purpose all types of plastics (1-7) to be ultra-low sulfur diesel, wax and naphtha to produce fully circular plastics. The construction of the facility will also bring economic opportunity to the Parkes Special Activation Precinct, as it is supported by a $260 million AUD investment and will lead to the creation of 100 new jobs.

“This is a huge opportunity for Parkes and regional NSW to get a slice of the $66 billion AUD global plastics recycling industry which will bring strong economic growth and jobs to the region,” said Deputy Premier and Minister for Regional NSW, Paul Toole. “Brightmark’s $260 million AUD investment in Parkes sends a clear message to other global companies; Parkes is the perfect place to invest, now and into the future.”

The plant is expected to be in operation by 2025, with construction planned to start in mid-2023. It will be capable of processing 200,000 tons of waste plastics back into the circularity market, creating import replacement products and assisting Australia to lower its carbon footprint. Special Activation Precincts are delivered by the NSW Government and funded from the $4.2 billion Snowy Hydro Legacy Fund.

Brightmark acknowledges the skill and significant support of the Australian Government’s Global Business and Talent Attraction Task Force led by Mr Peter Verwer AO, the New South Wales Department of Regional NSW led by Mr. Gary Barnes and their supporting agencies in bringing this exciting investment to fruition.

ABOUT BRIGHTMARK

Brightmark is a global waste solutions company with a mission to reimagine waste. The company takes a holistic, closed loop, circular economy approach to tackling the planet’s most pressing environmental challenges with imagination and optimism for the future. Through the deployment of disruptive, breakthrough waste-to-energy solutions focused on plastics renewal (plastic-to-plastic) and renewable natural gas (organic waste-to-fuel), Brightmark enables programs specifically tailored to environmental needs in order to build scalable project solutions that have a positive impact on the world and communities in which its stakeholders live and work. For more information, visit www.brightmark.com.

Media:
Cory Ziskind
ICR
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646-277-1232

EVANSVILLE, Ind.--(BUSINESS WIRE)--Berry Global Group, Inc. (NYSE: BERY) has launched its 2021 Impact Report, delivering a comprehensive and transparent assessment of the Company’s progress in meeting its ambitious worldwide Environmental, Social, and Governance (ESG) targets.

Following the success of the first Impact Report in 2017 in providing Berry’s stakeholders with a clear roadmap for continuous improvement, the latest iteration demonstrates the considerable strides made during 2021.

The primary focus of the 2021 Impact Report is Sustainability in Action. Among the key achievements highlighted are investments in sustainable packaging, increased use of recycled and circular plastics, and reductions in carbon emissions.

All activities reported contribute toward Berry’s previously published Impact 2025 targets. Across three areas – products, performance, and partners – Berry has already hit eight targets and is on course to achieve the rest.

“2021 was a year of action for Berry. From unmatched access to recycled material and strategic partnerships to innovative products, Berry is taking action on its ambitious sustainability goals to best serve customers,” said Tom Salmon, CEO and Chairman of the Board at Berry Global. “Berry’s culture is rooted in trust and partnerships – internally and externally. To enhance that, we have revised our Global Code of Business Ethics for our own members and deepened our hold on corporate governance.”

In the Impact Report, Berry announced that 86 percent of its fast-moving consumer products are now reusable, recyclable, and/or compostable, on target for achieving 100 percent by 2025. Alongside this, the Company reported increases in the use of circular plastics and light weighting of products.

In terms of performance, Berry has already achieved its target of an eight percent reduction in Scope 3 carbon emissions from a 2019 baseline. Having surpassed the initial goal four years ahead of schedule, the Company has now set a new target aligned with limiting global warming to 1.5 degrees Celsius.

Under the people banner, Berry conducted its first Global Employee Engagement Survey across our 47,000 employees worldwide, with a 75 percent participation rate. The Company’s employees completed 1.8 million training hours – an average of 40 hours per person, while Berry surpassed its target of bringing the Total Recordable Incident Rate below one – emphasizing our commitment to the safety of our employees.

“We have made impressive progress in almost every aspect our ESG goals, with some notable achievements and partnerships over the past year,” said Tarun Manroa, Chief Strategy Officer at Berry Global. “The success of our actions to date will spur us on to ensure we continue both to meet and exceed our own sustainability targets and support our customers in achieving theirs.”

The 2021 Impact Report is free to download from the Berry Global website.

About Berry
At Berry Global Group, Inc. (NYSE: BERY), we create innovative packaging and engineered products that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry-leading talent of 47,000 global employees across more than 300 locations, we partner with customers to develop, design, and manufacture innovative products with an eye toward the circular economy. The challenges we solve and the innovations we pioneer benefit our customers at every stage of their journey. For more information, visit our website, or connect with us on LinkedIn or Twitter. (BERY-E)

Amy Waterman
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BELTSVILLE, Md.--(BUSINESS WIRE)--Ion Storage Systems (ION) was exclusively featured in a Wall Street Journal article yesterday. The article highlights how ION’s solid state battery technology will help the US reach its clean energy targets and surpass global competition for energy supremacy worldwide. ION’s safe, energy dense and fast charging batteries have generated significant interest in multiple market segments including defense and aerospace, consumer electronics, electric vehicles, and grid storage. Additionally, ION’s low-cost batteries do not require Nickel or Cobalt alleviating supply chain predicaments currently interrupting the Li-Ion battery industry.

This article comes on the heels of the company announcing its $30 million Series A funding round which will enable ION to commission and qualify a battery cell manufacturing line at its Beltsville, MD headquarters capable of producing 10MWh/yr of its safe, energy dense and versatile solid state batteries.

“It is truly gratifying to have the Wall Street Journal take note of the great work we’re doing,” said Ricky Hanna, ION’s CEO. “We have been confident that our technology, approach, and team would garner the attention it deserves. The Journal’s article goes a long way in affirming our hard work.”

ION will begin producing batteries for the Army by the end of the year; making it one of the first companies to have solid state batteries in actual use. Discussions with other sector purchasers (electric vehicle manufacturers, aerospace, and consumer electronics) are ongoing and announcements are expected soon.

About Ion Storage Systems

Ion Storage Systems, from its new state of the art HQ and manufacturing facility, creates high energy density, solid state lithium metal batteries that are safer, lighter and enable form factors with tighter packing density that enhance system performance. ION’s nonflammable technology offers safe operation, greater abuse tolerance, and both volume and weight reduction. These advances empower the world’s innovators to redefine what is possible and begin building the products-of-tomorrow today.

Dwight Langhum
Langhum Mitchell Com.: 202.546.9170

The Mountain Solar project brings clean energy to Central CO

ROCKVILLE, Md.--(BUSINESS WIRE)--#LMI--Leading national solar companies Pivot Energy and Standard Solar have announced the completion of a nearly 2 megawatt (MW) solar project in Jefferson County, near Lakewood. The project is the fifth and final site in a series of community solar developments launched by the partnership in 2019 in an effort to expand community solar access across the state.

Developed in partnership with Pivot, Standard Solar funded the community solar array and is the projects’ long-term owner and operator.

These projects are part of the recent historical growth in community solar. It has proven to be a way for local communities to accelerate the shift to clean energy while offering significant cost savings for subscribers.

Jon Fitzpatrick, Vice President of Project Development for Pivot Energy, said, “Pivot is very proud to see this portfolio come to fruition. These five projects are a step toward meeting the growing demand for clean energy across Colorado, all while supporting jobs and bringing myriad economic benefits to the local communities. Our partnership with Standard Solar has been a tremendous success in expanding access to solar for more Coloradans, and we look forward to continued solar development in the state and across the nation.”

Community solar is the fastest-growing segment within the solar industry. This model enables multiple subscribers to purchase a portion of the power produced and receive a credit on their electric bill. It has the ability to serve an estimated 50 to 75% of U.S. consumers who do not have access to conventional rooftop installations but want to reap the benefit of solar energy.

Over 110 kilowatts (kW) of the project’s capacity is specifically designated for low-to-moderate income (LMI) segments of the community, a demographic which has historically had less access to the benefits of solar energy. This type of project carveout is nothing new for Pivot or Standard Solar, who both have a track record of working proactively to expand access to solar in the communities they serve. Pivot Energy is Colorado’s largest community solar provider, with 8.5 MW worth of LMI community solar subscribers in the state, amounting to 17% of total subscribers. Standard Solar also has a track record of supporting development inclusive of LMI subscribers.

Other notable offtakers include local municipalities: over 500 kW to the town of Eaton, nearly 75 kW to the Town of Parachute, and over 500 kW to Garfield County. Key components of the community will also be partly supported by solar now, as the Grand Junction Airport and Homeward Bound of Grand Valley are also slated as offtakers.

By working with Pivot Energy on these projects, we have been able to leverage our collective resources to yield even greater results,” said Shaun Laughlin, Head of US Strategic Development for Standard Solar. “Community solar is undeniably a key component of the future of clean energy and is set for immense, sustained growth. We are encouraged by the success of these projects in Colorado in expanding equitable access to solar power and committed to funding further development in the community solar sector.”

With the completion of this project, the two companies have met their goal of developing 8.9 MW of solar power in Colorado through this project series, offsetting greenhouse gas emissions roughly equivalent to taking 2,671 cars off the road for one year. The other four projects in the series are located in Garfield County, Jefferson County and Mesa County and are also managed through SunCentral, Pivot Energy’s proprietary community solar customer management interface that provides users with a seamless and enjoyable community solar experience.

About Pivot Energy
Pivot Energy is a national solar provider that develops, finances, builds, owns, and manages solar and energy storage projects. Pivot offers a distributed energy platform that includes a range of services and software aimed at serving the full solar ecosystem. Pivot is a Certified B-Corporation that proudly follows a corporate strategy aimed at providing a positive impact on society as measured by Environmental stewardship, Social leadership, and responsible Governance (ESG) factors. Learn more at pivotenergy.net.

About Standard Solar
Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 17 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 250 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar. For project acquisition and development inquiries, contact Shaun Laughlin, This email address is being protected from spambots. You need JavaScript enabled to view it. and on LinkedIn.

Pivot Energy
Julia Stevens
(714)-353-5715
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Standard Solar
Leah Wilkinson
Wilkinson + Associates
703-907-0010
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