NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a large⁽¹⁾ subsea Engineering, Procurement, Construction and Installation (EPCI) contract by Petrobras for its Búzios 6 field (module 7), a greenfield development in the pre-salt area.

The contract covers flexible and rigid pipe, umbilicals, pipeline end terminals, rigid jumpers, umbilical termination assemblies and a mooring system.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are excited to announce this award, which demonstrates the continuing strength of the subsea market in Brazil and our collaborative relationship with Petrobras. We used our deep understanding of the client’s needs to arrive at technological solutions developed specifically for the Búzios 6 field.”

The flexible pipe, umbilicals and subsea structures, as well as some of the rigid pipe, will be manufactured in Brazil using skills and competencies the Company has developed in-country, while minimizing the carbon footprint associated with transportation and installation. The project will also utilize our established and qualified Brazilian supply chain.

⁽¹⁾ For TechnipFMC, a “large” contract is between $500 million and $1 billion.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

Investor relations
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

SANTA CLARA, Calif.--(BUSINESS WIRE)--Everactive, maker of self-powered IoT systems, announced Catherine Faber has joined the company as Chief Financial Officer.

Catherine has significant financial experience working with growth-stage portfolio companies as Director of Portfolio Performance and Monitoring at private equity firm GTCR in Chicago. Prior to GTCR, Catherine worked on the Corporate Development team of Glanbia plc, a global nutrition company, and served as the Global FP&A Director for Glanbia Performance Nutrition. She previously worked in the Transaction Services group at KPMG providing financial due diligence for private equity and corporate clients.

Catherine is a graduate of the Kellogg School of Management at Northwestern University, where she earned an MBA with Beta Gamma Sigma honors. She attended the University of Illinois at Urbana-Champaign and received both an MS in accountancy and a BS with high honors in accountancy and finance. Catherine is a CFA charter holder and CPA.

“We have witnessed incredible technical execution and impressive market traction since initially partnering with Everactive at the Series A in 2014,” said Greg Papadopoulos, Ph.D., Venture Partner at NEA and Everactive Board Member. “We are thrilled to have Catherine joining the team as CFO and look forward to the contributions she will make to help power the company’s next phase of growth as a pioneer in the batteryless IoT industry.”

Reflecting a sharp increase in demand for batteryless IoT devices that deliver an influx of new data, investors such as storied venture capital firm New Enterprise Associates and the corporate venture arms of 3M, Ericsson, Fluke Corporation, Standard Industries and Armstrong International have invested in Everactive.

To date, Everactive has received $116M in financial backing from traditional venture capital and strategic investors alike.

ABOUT EVERACTIVE:

In collaboration with its partners, Everactive delivers the most scalable and cost-effective micro-renewable energy solutions. The company's proprietary low-power energy harvesting and wireless technology enables completely batteryless and always-on Internet of Things systems. Ruggedized for harsh industrial settings, Everactive Edge devices provide continuous insight into asset health across a range of equipment and throughout entire plants and facilities. The company has offices in Silicon Valley, Ann Arbor, and Charlottesville. For more information, please visit: www.everactive.com.

Media:
Wendy Gordon
This email address is being protected from spambots. You need JavaScript enabled to view it.
202-412-6268

HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that it plans to issue its earnings release with respect to fourth quarter and full year 2021 financial results on Thursday, February 24, 2022 before the market opens. Cheniere will host a conference call for investors and analysts at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) that day to discuss fourth quarter and full year results.

A listen-only webcast of the call and accompanying slide presentation will be available on the Company’s website at www.cheniere.com. After completion of the webcast, a replay will be available on the Company’s website.

About Cheniere

Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with expected total production capacity of approximately 45 million tonnes per annum of LNG operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.

For additional information, please refer to the Cheniere website at www.cheniere.com and Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding regulatory authorization and approval expectations, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.

Cheniere Energy, Inc.

Investors
Randy Bhatia 713-375-5479
Frances Smith 713-375-5753

Media Relations
Eben Burnham-Snyder 713-375-5764

Highlights from Full Year 2021 Results and 2022 Guidance from Continuing Operations

• GAAP earnings per diluted share (EPS) of $6.66 compared to $2.77 in 2020.
• Record EPS, excluding Special Items, of $6.55 increased 87% compared to 2020.
• Record operating margin of 15.8%.
• Record free cash flow of $415 million (cash provided by operating activities less capital spending).
• Core year-over-year sales growth of 12% and core year-over-year order growth of 19%.
• Introducing 2022 GAAP EPS guidance of $6.85-$7.25.
• Excluding Special items, 2022 EPS guidance is $7.00-$7.40, reflecting 10% earnings growth compared to 2021 at the midpoint.

STAMFORD, Conn.--(BUSINESS WIRE)--Crane Co. (NYSE: CR), a diversified manufacturer of highly engineered industrial products, reported fourth quarter and full-year 2021 financial results, and provided its full-year 2022 outlook.

Max Mitchell, Crane Co. President and Chief Executive Officer stated: “I remain so incredibly proud of how all of our global teams across Crane performed throughout the challenges of the last two years. Our success reflects the dedication and commitment of our 11,000 associates who embody the best of Crane's strong culture, and who create value for our customers and all of our stakeholders every day with their passion and innovation.

"That culture and passion was clearly apparent in our phenomenal 2021 results, with record adjusted EPS, operating margin, and free cash flow despite the year's difficult and uncertain environment. We also made further progress positioning Crane for sustainable value creation in the decade ahead through continued innovation and investments in our technology roadmaps that will drive organic share gains and outperformance vs. peers as our end markets continue to recover.

"Looking to 2022, our performance momentum continues, and we are confident in the strength of our three growth platforms and our demonstrated ability to successfully deliver strong results in the current environment. Despite continued uncertainty related to COVID and other operating conditions, we are introducing initial 2022 adjusted EPS from continuing operations guidance of $7.00-$7.40, reflecting 10% growth at the midpoint compared to our record 2021 earnings. That earnings momentum, along with consistently strong cash flow, will enable us to drive further value through continued organic investments, as well as through capital deployment and inorganic growth in 2022 and beyond."

Full Year 2021 Results from Continuing Operations

Full year 2021 GAAP earnings from continuing operations per diluted share (EPS) of $6.66, compared to $2.77 in 2020. Excluding Special Items, full year 2021 EPS from continuing operations was $6.55, compared to $3.53 in 2020. (Please see the attached Non-GAAP Financial Measures tables for a detailed reconciliation of reported results to adjusted measures.)

Full year 2021 sales were $3.2 billion, an increase of 15% compared to the prior year. The sales increase was comprised of a $343 million, or 12%, increase in core sales, a $71 million, or 3%, benefit from favorable foreign exchange, and a slight benefit from an acquisition.

Full year 2021 operating profit was $502 million, compared to $240 million in 2020. Operating profit margin was 15.8%, compared to 8.7% last year, with the improvement driven primarily by higher volumes, as well as favorable mix, savings from 2021 cost actions, and substantially lower repositioning costs. Excluding Special Items, full year 2021 operating profit was $501 million, compared to $300 million last year. Excluding Special Items, operating profit margin was 15.8%, compared to 10.8% last year. (Please see the attached Non-GAAP Financial Measures tables for a detailed reconciliation of reported results to adjusted measures.)

Summary of Full Year 2021 Results from Continuing Operations

Cash Flow and Other Financial Metrics

Cash provided by operating activities from continuing operations during full year 2021 was $467 million, compared to $284 million in 2020. Capital expenditures in 2021 were $52 million, compared to $33 million in 2020. Free cash flow from continuing operations (cash provided by operating activities from continuing operations less capital spending) for 2021 was $415 million, compared to $251 million in 2020.

The Company held cash and short-term investments of $479 million at December 31, 2021, compared to $581 million at December 31, 2020. Total debt was $842 million at December 31, 2021, compared to $1,219 million at December 31, 2020.

Rich Maue, Crane Co. Senior Vice President and Chief Financial Officer, added: "Reflecting confidence in our long term outlook, and supported by continued robust free cash flow and a very strong balance sheet, during the fourth quarter we repurchased just under $100 million of our stock, leaving approximately $200 million remaining under the share repurchase authorization that we announced in October 2021. In addition, we also announced today that our Board of Directors declared a 9% increase in our quarterly dividend to $0.47, from $0.43, per share. Our balance sheet strength supports these returns of cash to our shareholders, as well as providing substantial financial flexibility for our active pursuit of acquisitions, and a continued evaluation of further capital deployment options to drive shareholder returns."

Fourth Quarter 2021 Results from Continuing Operations

Fourth quarter 2021 GAAP earnings from continuing operations per diluted share (EPS) of $1.16, compared to $0.73 in the fourth quarter of 2020. Excluding Special Items, fourth quarter 2021 EPS from continuing operations was $1.25, compared to $0.92 in the fourth quarter of 2020. (Please see the attached Non-GAAP Financial Measures tables for a detailed reconciliation of reported results to adjusted measures.)

Fourth quarter 2021 sales were $771 million, an increase of 13% compared to the fourth quarter of 2020. The sales increase was comprised of a $86 million, or 13%, increase in core sales, and a $1 million benefit from favorable foreign exchange.

Fourth quarter 2021 operating profit was $87 million, compared to $54 million in the fourth quarter of 2020. Operating profit margin was 11.3%, compared to 7.9% last year, with the improvement driven primarily by higher volumes and favorable mix. Excluding Special Items, fourth quarter 2021 operating profit was $93 million, compared to $70 million last year. Excluding Special Items, operating profit margin was 12.1%, compared to 10.2% last year. (Please see the attached Non-GAAP Financial Measures tables for a detailed reconciliation of reported results to adjusted measures.)

Summary of Fourth Quarter 2021 Results from Continuing Operations

Fourth Quarter 2021 Segment Results

All comparisons detailed in this section refer to operating results for the fourth quarter 2021 versus the fourth quarter 2020.

Aerospace & Electronics

Sales of $158 million increased 10% compared to the prior year. Operating profit margin improved to 13.1%, from 9.0% last year, primarily reflecting higher volumes and favorable mix. Aerospace & Electronics' order backlog was $460 million at December 31, 2021 compared to $491 million at December 31, 2020.

Process Flow Technologies

Sales of $299 million increased $41 million, or 16%, driven by a $39 million, or 15%, increase in core sales, and a $2 million, or 1%, benefit from favorable foreign exchange. Operating profit margin increased to 13.9%, compared to 9.2% last year, primarily reflecting higher volumes. Excluding Special Items, operating margin increased to 14.3%, compared to 10.7% last year. Process Flow Technologies order backlog was $358 million at December 31, 2021 compared to $313 million at December 31, 2020.

Payment & Merchandising Technologies

Sales of $314 million increased $31 million, or 11%, driven by a $32 million, or 11%, increase in core sales, partially offset by a $1 million impact from unfavorable foreign exchange. Operating profit margin increased to 19.1%, from 11.2% last year, primarily reflecting favorable mix, higher volumes, and the absence of repositioning costs. Excluding Special Items, operating profit margin increased to 18.5%, from 14.7% last year.

Introducing 2022 Guidance

We are introducing full year 2022 GAAP EPS from continuing operations guidance in a range of $6.85-$7.25. Excluding Special Items, full year 2022 EPS from continuing operations guidance is $7.00-$7.40. Sales are expected to be approximately $3.3 billion with core sales growth of 4% to 6%. Additional details of our guidance are shown in the following table (Please see the attached non-GAAP Financial Measures tables.)

We will provide additional details about our full-year guidance on the Company's fourth quarter 2021 earnings conference call on January 25, 2022 and in the slide presentation accompanying that call, as well as at the Company's Annual Investor Day conference scheduled for March 30, 2022.

Additional Information

Share repurchases under the previously disclosed authorization may occur from time to time in open market transactions at prevailing prices or by other means in accordance with federal securities laws. The timing and amount of any repurchases will be determined by the Company’s management based on its evaluation of market conditions and other factors. There is no guarantee as to the number of shares that will be repurchased or the amount that will be spent on repurchases, and the repurchases may be extended, suspended, or discontinued at any time without prior notice at the Company’s discretion. This press release is neither an offer to sell, or the solicitation of an offer to purchase, any securities.

Additional information with respect to the Company’s asbestos liability and related accounting provisions and cash requirements is set forth in the Current Report on Form 8-K filed with a copy of this press release.

Conference Call

Crane Co. has scheduled a conference call to discuss the fourth quarter financial results on Tuesday, January 25, 2022 at 10:00 A.M. (Eastern). All interested parties may listen to a live webcast of the call at http://www.craneco.com. An archived webcast will also be available to replay this conference call directly from the Company’s website under Investors, Events & Presentations. Slides that accompany the conference call will be available on the Company’s website.

Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane Co. provides products and solutions to customers in the chemicals, oil & gas, power, automated payment solutions, banknote design and production and aerospace & defense markets, along with a wide range of general industrial and consumer related end markets. The Company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies, and Engineered Materials. On May 24, 2021, Crane announced that it had signed an agreement to divest its Engineered Materials segment; that sale is pending, subject to customary closing conditions and regulatory approvals. Crane Co. has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia. Crane Co. is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.

This press release may contain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on the management’s current beliefs, expectations, plans, assumptions and objectives regarding Crane Co.’s future financial performance and are subject to significant risks and uncertainties. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. There are a number of factors, including risks and uncertainties related to the ongoing COVID-19 pandemic, that could cause actual results or outcomes to differ materially from those expressed or implied in these forward-looking statements. Such factors also include, among others: uncertainties regarding the extent and duration of the impact of the COVID-19 pandemic on many aspects of our business, operations and financial performance; changes in economic, financial and end-market conditions in the markets in which we operate; fluctuations in raw material prices; inflationary pressures; supply chain disruptions; the financial condition of our customers and suppliers; economic, social and political instability, currency fluctuation and other risks of doing business outside of the United States; competitive pressures, including the need for technology improvement, successful new product development and introduction and any inability to pass increased costs of raw materials to customers; our ability to value and successfully integrate acquisitions, to realize synergies and opportunities for growth and innovation, and to attract and retain highly qualified personnel and key management; the risks that any regulatory approval that may be required for the Engineered Materials divestiture is delayed or is not obtained, that the Engineered Materials divestiture does not close or that the related transaction agreement is terminated, or that the benefits expected from the Engineered Materials divestiture will not be realized or will not be realized within the expected time period; a reduction in congressional appropriations that affect defense spending and our ability to predict the timing and award of substantial contracts in our banknote business; adverse effects on our business and results of operations, as a whole, as a result of increases in asbestos claims or the cost of defending and settling such claims; adverse effects as a result of environmental remediation activities, costs, liabilities and related claims; investment performance of our pension plan assets and fluctuations in interest rates, which may affect the amount and timing of future pension plan contributions; and other risks noted in reports that we file with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and subsequent reports filed with the Securities and Exchange Commission. Crane Co. does not undertake any obligation to update or revise any forward-looking statements.

CRANE CO.
Income Statement Data
(in millions, except per share data)

CRANE CO.
Condensed Balance Sheets
(in millions)

CRANE CO.
Condensed Statements of Cash Flows
(in millions)

Jason D. Feldman
Vice President, Investor Relations
203-363-7329
www.craneco.com

NEWCASTLE & HOUSTON--(BUSINESS WIRE)--Regulatory News:

TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a large⁽¹⁾ subsea Engineering, Procurement, Construction and Installation (EPCI) contract by Petrobras for its Búzios 6 field (module 7), a greenfield development in the pre-salt area.

The contract covers flexible and rigid pipe, umbilicals, pipeline end terminals, rigid jumpers, umbilical termination assemblies and a mooring system.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are excited to announce this award, which demonstrates the continuing strength of the subsea market in Brazil and our collaborative relationship with Petrobras. We used our deep understanding of the client’s needs to arrive at technological solutions developed specifically for the Búzios 6 field.”

The flexible pipe, umbilicals and subsea structures, as well as some of the rigid pipe, will be manufactured in Brazil using skills and competencies the Company has developed in-country, while minimizing the carbon footprint associated with transportation and installation. The project will also utilize our established and qualified Brazilian supply chain.

⁽¹⁾ For TechnipFMC, a “large” contract is between $500 million and $1 billion.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

Category: UK regulatory

Investor relations
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Proposed investment and supply agreements will further the localization of the U.S. battery supply chain

NOVONIX to be exclusive supplier of high-performance graphite anode materials to KORE Power’s U.S. facility

BRISBANE, Australia & COEUR D'ALENE, Idaho--(BUSINESS WIRE)--NOVONIX Limited (ASX: NVX, OTC: NVNXF) (“NOVONIX”), an advanced battery materials and technology company, today announced the execution of a letter of intent to enter into investment and supply agreements with KORE Power, Inc. (“KORE Power”), as part of an ongoing joint effort to strengthen the North American battery supply chain, from key materials to cell and pack manufacturing for electric vehicles and energy storage systems.

Pending board approvals of both companies and the execution of definitive documentation, NOVONIX will acquire an approximately 5% stake in KORE Power and will become the exclusive supplier of graphite anode materials to KORE Power’s large-scale battery cell manufacturing facility in the U.S. The letter of intent is non-binding and subject to the execution of definitive documents and other customary conditions. If approved, these agreements are expected to close in early 2022.

NOVONIX and KORE Power began working together in 2019 when the parties entered into testing agreements to focus on validation and development of KORE Power’s battery cell technologies. Through the arrangement, the parties have continued to test existing and new materials and designs for use in future KORE Power products found in electric vehicles and energy storage systems. KORE Power has announced plans to build a 12 gigawatt-hour (GWh) facility in Buckeye, Arizona to support the local market need for battery cells and systems, and this facility will need close to 12,000 tonnes per year of graphite anode material when fully operational.

“NOVONIX and KORE Power have been actively working together to improve battery technology utilizing NOVONIX’s proprietary cell testing technologies, and these agreements deepen our longstanding collaboration,” said Dr. Chris Burns, NOVONIX Co-Founder and CEO. “Through our partnership, we showed KORE Power’s cell performance as comparable to global Tier 1 cell providers, and we are excited to continue to strengthen that technology. We are reducing the reliance on foreign materials and furthering the United States’ position as a global energy storage leader by providing high-capacity long-life synthetic graphite anode material to a leading domestic developer.”

“This partnership represents a natural fit for two companies committed to establishing a North American battery sector and facilitating a sustainable future” said KORE Power Co-Founder & CEO Lindsay Gorrill. “The booming U.S. market is leading the global transition to grid-scale battery systems, and with the support of NOVONIX, we’re energized to work towards building a secure domestic supply chain for energy storage.”

Under the proposed Securities Purchase Agreement, NOVONIX would agree to purchase 3,333,333 shares of KORE Power common stock ("Shares") at an issue price of $7.50 per share. The aggregate offering price for the Shares will be paid in a combination of 50% cash and 50% ordinary shares of NOVONIX (“NOVONIX Shares”), at a valuation equal to 95% of the 20-day volume weighted average trading price of NOVONIX Shares on the ASX ending three days prior to the closing date. Simultaneously with the contemplated investment, NOVONIX and KORE Power shall enter into a supply agreement on mutually agreed terms. The cash component of the offering price will be funded from NOVONIX's existing cash reserves. NOVONIX Shares which are issued as part of the purchase consideration for the Shares, will be issued to KORE Power within NOVONIX's existing placement capacity under the ASX Listing Rules.

About NOVONIX

NOVONIX Limited is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the U.S. and Canada and sales in more than 14 countries.

NOVONIX is a leading producer of synthetic graphite anode materials used in the making of lithium-ion batteries that power electric vehicles, personal electronics, medical devices and energy storage units. NOVONIX’s anode materials business is based in Chattanooga, Tennessee, where its goal is to increase capacity to produce 10,000 metric tons per year of synthetic graphite by 2023, with further targets of 40,000 mt/year by 2025 and 150,000 mt/year by 2030. NOVONIX, which has operations in the U.S. and Canada, is also a global supplier of advanced battery-testing services.

NOVONIX's mission is to enable a clean energy future by producing longer-life and lower-cost battery materials and technologies.

About KORE Power

KORE Power, Inc., is the leading U.S.-based developer of battery cell technology for the clean energy industry. With clients in energy storage, e-mobility, utility, industrial and mission-critical markets, KORE Power provides the backbone for decarbonization across the globe. Optimized by its battery management system, KORE Power designs and manufactures its proprietary NMC and LFP cells, VDA modules and packs. Through the construction and operations of its large-scale battery cell manufacturing facility in the U.S., KORE is positioned to operate at 12 GWh per year capacity. The facility (the “KOREPlex”) will operate with net-zero carbon emissions through strategic partnerships and solar and storage co-generation.

KORE Power’s differentiated approach provides customers with direct access, unparalleled service, superior technology and Tier 1 product availability. Focused on building sustainable communities, clean energy jobs and green economic expansion, KORE Power is proud to offer a functional solution to real-world problems and fulfill market demand to deliver a zero-carbon future. The KOREPlex is expected to come to Buckeye Arizona and be the anchor to the development of the Sustainable Valley by the end 2023

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This press release contains forward-looking statements about NOVONIX, KORE and each of their respective industries that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements that relate to the expected timetable for completing the potential transaction, the ability to complete the potential transaction, the expected benefits of the potential transaction (including future opportunities) and any other statements regarding each company’s future results of operations, financial condition, business strategy and plans and objectives of management for future operations. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," or "would," or the negative of these words or other similar terms or expressions. Neither NOVONIX nor KORE have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements are subject to a number of known and unknown risks, uncertainties, other factors and assumptions. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Neither company may actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.

For NOVONIX Limited:

Stefan Norbom (Investors)
This email address is being protected from spambots. You need JavaScript enabled to view it.

Kiki O'Keeffe (Media)
This email address is being protected from spambots. You need JavaScript enabled to view it.

For KORE Power:

Aleysha Newton
Director of Marketing
Phone: +1 208 758 9392
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

PLANO, Texas--(BUSINESS WIRE)--#Blueoil--Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) plans to issue its fourth quarter 2021 financial and operating results, along with its 2022 outlook, prior to the market opening on Thursday, February 24, 2022. On the same day, the Company is scheduled to host a webcast and conference call at 11:00 a.m. Central Time (12 p.m. Eastern Time). The presentation webcast will be available, both live and for replay, on the Investor Relations page of the Company’s website at www.denbury.com. Individuals who would like to participate in the conference call should dial in shortly before the scheduled start time.

ABOUT DENBURY
Denbury is an independent energy company with operations and assets focused on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) in the Gulf Coast and Rocky Mountain regions. For over two decades, the Company has maintained a unique strategic focus on utilizing CO₂ in its EOR operations and since 2012 has also been active in CCUS through the injection of captured industrial-sourced CO₂. The Company currently injects over three million tons of captured industrial-sourced CO₂ annually, with an objective to fully offset its Scope 1, 2, and 3 CO₂ emissions within this decade, primarily through increasing the amount of captured industrial-sourced CO₂ used in its operations. For more information about Denbury, visit www.denbury.com.

Follow us on Twitter and LinkedIn.

Brad Whitmarsh, 972.673.2020, This email address is being protected from spambots. You need JavaScript enabled to view it.
Beth Bierhaus, 972.673.2554, This email address is being protected from spambots. You need JavaScript enabled to view it.

Two Incumbent Directors to Retire at Upcoming 2022 Annual Meeting of Shareholders

Process Underway to Appoint Two New, Highly Qualified, Independent Directors

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (Nasdaq: CHRW), one of the world’s largest logistics platforms, today announced that Wayne M. Fortun and Brian P. Short have decided not to stand for re-election to the Board of Directors at the company’s 2022 Annual Meeting of Shareholders, which has not yet been scheduled.

Scott P. Anderson, Chairman of the Board of C.H. Robinson, said, “On behalf of the entire Board, I thank Wayne and Brian for their years of committed service to C. H. Robinson. They have each contributed significantly to the company’s growth, success, and excellence in providing tailored solutions to our global customer base.”

Anderson added, “As part of our ongoing Board refreshment process, we have been engaged with a leading executive search firm to identify highly-qualified director candidates. Although we expect replacements to be named over the coming months, we already have a number of strong candidates in the process. As a Board and management team, we are committed to ongoing Board refreshment, consistent with C.H. Robinson’s focus on strong and effective corporate governance. We look forward to further enhancing the skillsets represented on the Board, while further increasing the Board’s diversity and lowering its average tenure, to drive superior and sustainable value creation.”

Fortun has been a director of the company since 2001. He served in various positions at Hutchinson Technology, Inc., a global technology manufacturer from 1975 to 2016, including as Chief Operating Officer, Chief Executive Officer and Chairman of the Board. His past Board experience includes serving on the G&K Services, Inc. Board of Directors.

Short has been a director of the company since 2002. He is Chief Executive Officer of Leamington Co., a holding company with interests in transportation, community banking, agricultural production, and real estate. Leamington operates Admiral Merchants Motor Freight, Inc.; St. Paul Flight Center, Inc.; First Farmers & Merchants Banks; and Benson Parking Services, Inc. He has served on the Board of Directors of Catholic Charities, St. Joseph's Home for Children, Saint Thomas Academy, Allina Hospitals and Clinics, and William Mitchell College of Law. He also serves on the Advisory Council to the Law School of the University of Notre Dame, and the Board of Governors of the Law School of the University of St. Thomas.

About C.H. Robinson

C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With $28 billion in freight under management and 20 million shipments annually, we are one of the world's largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world's economy. With the combination of our multi-modal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our more than 105,000 customers and 73,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers' businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit us at www.chrobinson.com (Nasdaq: CHRW).

CHRW-IR

Chuck Ives, Director of Investor Relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Duncan Burns, Vice President of Public Relations and Corporate Communications
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

MILWAUKEE--(BUSINESS WIRE)--Luxfer Holdings PLC [NYSE: LXFR] (“Luxfer” or the “Company”), a global industrial company innovating niche applications in materials engineering, today announced that Heather Harding, Chief Financial Officer, has elected to retire. Luxfer is pleased to appoint Steve Webster as Chief Financial Officer, effective March 1^st, 2022. To ensure an orderly transition, Ms. Harding will act as an advisor to the Company through December 31^st, 2022.

Steve Webster has served as the Company’s Corporate Controller for the last six years, during which time he played an instrumental role in the Company’s business and portfolio transformation, including modernization of Luxfer’s control processes. Prior to joining Luxfer, Mr. Webster held various finance leadership roles at global businesses, serving as Head of Global Accounting at Seadrill Limited, a OSE-listed offshore drilling company, and ERP Business Integration Lead, IFRS Project Lead, and Financial Accounting Director at JT International, a global tobacco company. He has extensive experience in corporate financial management and external reporting under both U.S. GAAP and IFRS. Mr. Webster is a Chartered Accountant and holds a degree in International Management and Modern Languages from the University of Bath.

“On behalf of the Board of Directors and the entire Luxfer team, I want to thank Heather for her exceptional leadership and dedication to Luxfer,” said Alok Maskara, Chief Executive Officer. “During her four years with Luxfer, Heather was integral to the development and execution of our business strategies. She strengthened the Company’s financial position and provided the leadership needed to execute the Company’s multi-year transformation plan. I personally thank Heather for being a trusted advisor and business partner to me. I wish her a happy and well-deserved retirement.”

Mr. Maskara added, “I am also delighted to welcome Steve Webster to our Executive Leadership Team as he steps into the CFO role. Steve has contributed significantly to the strategic, business, and financial functions at Luxfer during his tenure as Corporate Controller, and I am confident that Luxfer’s record of financial excellence and disciplined balance sheet management will continue under his leadership.”

The Company also announced that it will release financial results for the fourth quarter and full year of 2021 after the market closes on Monday, February 21, 2022. Luxfer has scheduled a conference call at 8:30 a.m. U.S. Eastern Daylight Time on Tuesday, February 22, 2022, during which management will provide a review of the Company’s 2021 fourth quarter and full year financial results.

Conference Call Information

U.S. participants may access the conference call by telephoning +1-866-342-8591. Participants from other countries may call +1-203-518-9822. The participant conference ID code is LXFRQ421.

Please begin the call-in procedure at least 15 minutes before the conference call starts. The call is expected to last approximately one hour.

Please use the following link to access the webcast for the conference call:

https://event.on24.com/wcc/r/3612160/5D6B9B442F93723E07277CDDC9C1BB57

A recording of the conference call will be available for replay two hours after the completion of the call and will remain accessible through March 8^th, 2022. To hear the recording, please call +1-800-759-0728 in the U.S. and +1-402-220-7229 in other countries.

Slides used in the presentation and a recording of the call will also be available under the investor relations section of the Luxfer website at www.luxfer.com.

About Luxfer Holdings PLC

Luxfer is a global industrial company innovating niche applications in materials engineering. Using its broad array of proprietary technologies, Luxfer focuses on value creation, customer satisfaction, and demanding applications where technical know-how and manufacturing expertise combine to deliver a superior product. Luxfer’s high-performance materials, components, and high-pressure gas containment devices are used in defense and emergency response, healthcare, transportation, and general industrial applications. For more information, please visit www.luxfer.com.

Luxfer is listed on the New York Stock Exchange and its ordinary shares are traded under the symbol LXFR.

Heather Harding
414-269-2419
This email address is being protected from spambots. You need JavaScript enabled to view it.

ULAANBAATAR, Mongolia.--(BUSINESS WIRE)--Rio Tinto, Turquoise Hill Resources (TRQ) and the Government of Mongolia have reached an agreement that will move the Oyu Tolgoi (OT) project forward, resetting the relationship between the partners and increasing the value the project delivers for Mongolia.

As a result, the OT Board, comprised of representatives of Rio Tinto, TRQ and Erdenes Oyu Tolgoi (EOT) which is wholly owned by the Government of Mongolia, has unanimously approved commencement of underground operations. This step unlocks the most valuable part of the mine and is expected to begin in the coming days, with first sustainable production expected in the first half of 2023.

Project budget, funding and agreements
As part of a comprehensive package, TRQ will waive the $2.4 billion¹ EOT carry account loan in full, comprising the amount of common share investments in OT LLC funded by TRQ on behalf of EOT to build the project to date, plus accrued interest.

The Parliament of Mongolia has approved a resolution (Resolution 103) that resolves the outstanding issues that have been subject to negotiations with the Government of Mongolia over the last two years in relation to addressing Parliament Resolution 92 (December 2019).

With this approval, the Parliament of Mongolia has required that certain measures be completed in order for Resolution 92 to be considered formally implemented. To date, conditions relating to the following measures have been addressed: (i) the waiving of the carry account loan; (ii) the improved cooperation with EOT; (iii) the implementation of measures to monitor OT underground development financing mechanisms and enhance ESG matters; (iv) the approval of the Electricity Supply Agreement; and (v) the establishment of a funding structure at OT that does not incur additional loan financing prior to sustainable production for Panel 0 (expected in the first half of 2023). Rio Tinto continues to work with the Government of Mongolia and TRQ to finalise the remaining outstanding measures of Resolution 92, namely the formal termination of the Oyu Tolgoi Mine Development and Financing Plan (UDP) and resolution of the outstanding OT LLC tax arbitration.

An updated funding plan has been agreed to address TRQ’s current estimated remaining funding requirement for the OT Underground Project. Until sustainable underground production is achieved, OT will be funded by cash on hand and rescheduling of existing debt repayments, together with a pre-paid copper concentrate sales agreement with TRQ. This is in line with restrictions on debt financing contained in Resolution 103, passed on 30 December 2021.

Rio Tinto and TRQ have amended the Heads of Agreement signed in April 2021 to ensure they appropriately fund OT. The capital forecast for the project is $6.925 billion, including $175 million of known COVID-19 impacts to the end of 2021². Forecasted remaining undergound capital expenditure is approximately $1.8 billion. A reforecast will be undertaken during H1 2022 to determine a revised cost and schedule estimate that will reflect:

• any further COVID-19 impacts;
• any additional time-based impacts and market price escalation arising from resequencing due to 2021 budget constraints (as a result of the OT Board not approving the capital budget uplift at the time the Definitive Estimate was finalised); and
• updated risk ranging reflecting the latest project execution risks.

The key elements under the amended Heads of Agreement include:

• pursuing the rescheduling of principal repayments of existing OT project finance to potentially reduce the OT funding requirement by up to $1.7 billion;
• seeking to raise up to $500 million of senior supplemental debt at OT from selected international financial institutions which could be put in place after sustainable underground production is achieved;
• Rio Tinto providing a co-lending project finance facility to OT of up to $750 million to be made available after sustainable underground production is achieved (with up to $300 million of such amount being available under a short-term secured advance directly to TRQ pending such co-lending); and
• TRQ agreeing to conduct equity or rights offerings of up to $1.5 billion (with an initial offering of at least $650 million by no later than 31 August 2022).

The re-profiling of the existing OT project finance and any additional senior supplemental debt at OT will be subject to availability and terms and conditions being acceptable to Rio Tinto and TRQ.

Power
The OT Board has also approved the signing of an Electricity Supply Agreement to provide OT with a long-term source of power from the Mongolian grid, under terms already agreed with the Government of Mongolia. In meeting OT’s commitment to sourcing power domestically, Rio Tinto will work with the Government to support long-term renewable energy generation in support of the Mongolian grid. The Government of Mongolia and OT are in constructive discussions with the Inner Mongolia Power International Cooperation Company (IMPIC) for an extension of current power import arrangements beyond the current agreement of July 2023. IMPIC have indicated their support for an extension and commercial terms are being finalised.

Luvsannamsrain Oyun-Erdene, the Prime Minister of Mongolia, said, “The commencement of Oyu Tolgoi underground mining operations demonstrates to the world that Mongolia can work together with investors in a sustainable manner and become a trusted partner. As part of our “New Recovery Policy”, I am happy to express Mongolia’s readiness to work actively and mutually beneficially with global investors and partners.”

Rio Tinto Chief Executive Jakob Stausholm, said, “We would like to thank the Government of Mongolia for their commitment to working productively with Rio Tinto and TRQ to reach this crucial agreement, that will see one of the world’s largest copper growth projects move forward and firmly establish Mongolia as a global investment destination. This agreement represents a reset of our relationship and resolves historical issues between the OT project partners. We strongly believe in the future of this country and I am personally committed to ensuring that the people of Mongolia benefit strongly from OT along with our shareholders.”

“I have visited Mongolia twice in the last few months and I cannot help but be proud of what has been achieved by our workforce, hand-in-hand with communities, suppliers and other partners. I would like to thank the many thousands of people involved for what they have achieved.”

“The OT underground development will consolidate Rio Tinto’s position as a leading global supplier of copper at a time when demand is increasing, driven by its role in enabling decarbonisation and electrification in the race to net zero. We will also explore additional opportunities to decarbonise the OT operations, including sourcing renewable power.”

Steve Thibeault, Interim Chief Executive Officer of Turquoise Hill Resources, commented, “Today is a landmark day for Turquoise Hill and a major milestone in the development of the Oyu Tolgoi underground development project. We are very excited to be starting work on the undercut, which is critical to unlocking the immense potential of this world-class, high grade deposit for the benefit of all stakeholders. Following the agreements with the Government of Mongolia and the Amended Heads of Agreement with Rio Tinto being put in place, we now have greater certainty and confidence to complete construction of this once-in-a-generation mine that, when finished, is expected to be one of the largest copper producing mines in the world and a generator of vast economic value and employment in Mongolia and of returns for our shareholders for years to come. I want to thank the Government of Mongolia for its commitment to securing a balanced agreement that helps to advance the project while ensuring that all stakeholders including the people of Mongolia truly benefit from the development of this resource. This agreement says a lot about the positive environment for foreign investment in the country.”

By 2030 OT is expected to be the fourth largest copper mine in the world. It is a complex greenfield project comprising an underground block cave mine and copper concentrator as well as an open pit mine which has been successfully operating for almost ten years. It is also one of the most modern, safe, sustainable and water-efficient operations globally, with a workforce which is more than 96 per cent Mongolian. Since 2010, OT has spent a total of $13.4 billion in-country, including $3.6 billion of taxes, fees and other payments to the state budget. The size and quality of this Tier 1 asset provides additional expansion options, which could see production sustained for many decades.

Notes to Editors
At peak production, OT is expected to operate in the first quartile of the copper cash cost curve³. OT is expected to produce around 500,000 tonnes of copper per year on average from 2028 to 2036 from the open pit and underground, and an average of around 350,000 tonnes for a further five years⁴, compared to 163,000 tonnes in 2021⁵. The underground Ore Reserve has an average copper grade of 1.52 per cent, which is more than three times higher than the open pit Ore Reserve, and contains 0.31 grammes per tonne of gold.⁶

Rio Tinto Canadian early warning disclosure
Rio Tinto currently beneficially owns 102,196,643 common shares of TRQ, representing approximately 50.8% of the issued and outstanding common shares of TRQ. Rio Tinto also has anti-dilution rights that permit it to acquire additional securities of TRQ so as to maintain its proportionate equity interest in TRQ from time to time.

As the subscription price for any TRQ equity or rights offering is not determinable at this time, the number of TRQ common shares Rio Tinto will beneficially own following closing of any such equity or rights offering cannot be determined at this time.

Except in connection with such equity or rights offerings, Rio Tinto has no present intention of acquiring additional securities of TRQ. Depending upon its evaluation of the business, prospects and financial condition of TRQ, the market for TRQ’s securities, general economic and tax conditions and other factors, Rio Tinto may directly or indirectly acquire or sell some or all of the securities of TRQ.

This announcement is authorised for release to the market by, and a copy of the related early warning report may be obtained from Rio Tinto’s Group Company Secretary.

Additional disclosures
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with registration requirements under applicable law.

Forward-looking statements
This press release includes “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this report, including, without limitation, those regarding capital and funding requirements, are forward-looking statements. The words “intend”, “forecast”, “project”, “anticipate”, “estimate”, “plan”, “believes”, “expects”, “may”, “should”, “will”, “target”, “pursue”, “seek” or similar expressions, commonly identify such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements speak only as of the date of this press release. Rio Tinto and TRQ each expressly disclaims any obligation or undertaking (except as required by applicable law, the UK Listing Rules, the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and the Listing Rules of the Australian Securities Exchange) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in their respective expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

This announcement is authorised for release to the market by Steve Allen, Rio Tinto’s Group Company Secretary.

LEI: 213800YOEO5OQ72G2R82
Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State.

Category: Oyu Tolgoi

¹Financial reporting impact of waiver
Rio Tinto’s accounting treatment for its share in the carry account loan is explained in note 1 (xii) on page 221 and note 32 (l) on page 264 of the 2020 Annual Report. Prior to the waiver agreement, the carry account was expected to be repaid via a pledge over EOT’s share of future OT common share dividends. For this reason, and because the arrangement is between TRQ and EOT rather than with OTLLC itself, both the principal and interest are treated as transactions with owners acting in their capacity as owners. Consequently, the carry account is currently recorded as a reduction in the share of equity attributable to non-controlling interests, resulting in an increase to the effective interest in OT attributable to owners of Rio Tinto. The carry account is not classified as a loan receivable in the Group Balance Sheet, and there is no interest income shown in the Group Income Statement; accumulation of interest on the carry account increases the share of profit attributable to Rio Tinto as it is accrued.

Waiving the carry account loan increases EOT’s economic share arising through entitlement to cash flows from future dividends of OT. In the 2022 Group Accounts, there will be no Income Statement charge for loan forgiveness or write-off as a result of the waiver, and net assets and liabilities for OT included in the Group Balance sheet remain unchanged. There is no exchange of cash or other financial assets between parties and there will be no change to the underlying free cash flows of the OT operations and development project. A reallocation of the net asset value allocation between the owners of OT will be recorded in the Group Statement of Changes in Equity for 2022 by reducing equity attributable to owners of Rio Tinto and increasing equity attributable to non-controlling interests.

²These estimates exclude any impacts of delays to work schedules caused by restricted approved budgets since the start of 2021. This impact, and the impact of any ongoing COVID-19 impacts will be assessed following the commencement of underground operations with further updates provided to the market in due course. Panels 1 and 2 studies will be ongoing throughout 2022. Further study work is also underway to assess the extraction methodology and ultimate recovery of the Panel 0 recoverable pillars.

³ Wood Mackenzie copper equivalent cash cost curve (Q4 2021)

⁴ The 500ktpa target (stated as recovered metal) for the Oyu Tolgoi underground and open pit mines is underpinned 17 per cent by Proved Ore Reserves and 83 per cent by Probable Ore Reserves for the years 2028-2036. The 350ktpa production target for the following 5 years is underpinned 18 per cent by Proved Ore Reserves and 82 per cent by Probable Ore Reserves. These production targets have been scheduled from current mine designs by Competent Persons in accordance with the requirements of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves, 2012 Edition (the JORC code).

⁵ Rio Tinto Fourth Quarter Operations Review, published 17 January 2022.

⁶ This information in relation to the underground Ore Reserves was previously reported in the release to the ASX dated 16 December 2020. The Competent Persons responsible for reporting the Ore Reserves were Ferrin Prince and Mark Bixley, Competent Persons, who are a Member and Fellow respectively of The Australasian Institute of Mining and Metallurgy. Rio Tinto is not aware of any new information or data that materially affects these Ore Reserve estimates and confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The form and context in which the Competent Persons’ findings are presented have not been materially modified from the release dated 16 December 2020.

Please direct all enquiries to This email address is being protected from spambots. You need JavaScript enabled to view it.

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

CANONSBURG, Pa.--(BUSINESS WIRE)--#CleanEnergy--Equitrans Midstream Corporation (NYSE: ETRN) today declared quarterly cash dividends of $0.15 per common share and $0.4873 per share of Series A Perpetual Convertible Preferred Stock for the fourth quarter 2021. The dividends will be paid on February 14, 2022, to all applicable ETRN shareholders of record at the close of business on February 3, 2022.

About Equitrans Midstream Corporation:

Equitrans Midstream Corporation (ETRN) has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located assets in the Marcellus and Utica regions, ETRN has an operational focus on gas transmission and storage systems, gas gathering systems, and water services that support natural gas development and production across the Basin. With a rich 135-year history in the energy industry, ETRN was launched as a standalone company in 2018 with the vision to be the premier midstream services provider in North America. ETRN is helping to meet America’s growing need for clean-burning energy, while also providing a rewarding workplace and enriching the communities where its employees live and work.

For more information on Equitrans Midstream Corporation, visit www.equitransmidstream.com; and to learn more about our environmental, social, and governance practices visit ETRN Sustainability Reporting.

Source: Equitrans Midstream Corporation

Analyst inquiries:
Nate Tetlow – Vice President, Corporate Development and Investor Relations
412.553.5834
This email address is being protected from spambots. You need JavaScript enabled to view it.

Media inquiries:
Natalie A. Cox – Communications and Corporate Affairs
412.395.3941
This email address is being protected from spambots. You need JavaScript enabled to view it.

AUSTIN, Texas--(BUSINESS WIRE)--WhiteWater Midstream (WhiteWater), MPLX LP (MPLX NYSE: MPLX), and West Texas Gas (WTG) are pleased to announce the addition of a fourth partner, Rattler Midstream LP (Rattler NASDAQ: RTLR), to the companies’ BANGL, LLC joint venture (BANGL). Concurrent with Rattler’s investment in the project, Diamondback Energy, Inc. (NASDAQ: FANG), Rattler’s upstream operating parent, entered into a significant, long-term natural gas liquids (NGL) product dedication with BANGL.

BANGL began full commercial service in the fourth quarter of 2021 and provides NGL takeaway capacity from MPLX and WTG gas processing plants in the Permian Basin to the NGL fractionation hub in Sweeny, Texas. WhiteWater’s investment in BANGL is backed by Ridgemont Equity Partners, Denham Capital Management and the Ontario Power Generation Inc. Pension Plan.

About BANGL, LLC

BANGL is a joint venture between White Water, MPLX, WTG, and Rattler. The natural gas liquids pipeline system connects the Delaware and Midland basins of Texas to the fractionation market in Sweeny, Texas and has expansion capacity of up to 300,000 barrels per day.

About MPLX LP

MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com.

About WhiteWater

WhiteWater is a management owned, Austin based midstream company. WhiteWater is partnered with multiple private equity funds including but not limited to Ridgemont Equity Partners, Denham Capital Management, First Infrastructure Capital and the Ontario Power Generation Inc. Pension Plan. Since inception, WhiteWater has reached final investment decision on ~$3 billion in greenfield development projects. For more information about WhiteWater, visit www.whitewatermidstream.com.

About WTG

WTG (together with its affiliates) comprises a family of related natural gas midstream and downstream entities headquartered in Midland, Texas since 1976 with operations in more than 90 Texas and Oklahoma counties. These WTG entities operate more than 900 MMcfd of gas processing capacity with more than 9,000 miles of gathering systems, 1,800 miles of transmission pipelines and distribution systems serving approximately 25,000 LDC customers.

About Rattler Midstream LP

Rattler is a Delaware limited partnership formed by Diamondback Energy, Inc. to own, operate, develop and acquire midstream and energy-related infrastructure assets. Rattler owns crude oil, natural gas and water-related midstream assets in the Permian Basin that provide services to Diamondback Energy, Inc. and third party customers under primarily long-term, fixed-fee contracts. For more information, please visit www.rattlermidstream.com.

About Diamondback Energy, Inc.

Diamondback Energy, Inc. is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

About Ridgemont Equity Partners

Ridgemont Equity Partners (Ridgemont) is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $5.5 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. For more information about Ridgemont, visit www.ridgemontep.com.

About Denham Capital Management

Denham Capital Management (Denham) is a leading energy and resources-focused global private equity firm with more than $12 billion of invested and committed capital across multiple fund vehicles and offices in Houston, Boston, Toronto, London and Perth. The firm makes direct investments in the energy and resources sectors, including businesses involving energy resources, sustainable infrastructure and mining, across the globe and all stages of the corporate lifecycle. Denham’s investment professionals apply deep technical, operational and industry experience and work in close partnership with management teams to achieve long-term investment objectives. For more information about Denham Capital, visit www.denhamcapital.com.

MPLX Investor Relations: Kristina Kazarian (419) 421-2071

WhiteWater Investor Relations: www.whitewatermidstream.com

WTG Investor Relations: www.westtexasgas.com

Rattler Investor Relations: Jared Carameros (432) 247-6213

MONTRÉAL--(BUSINESS WIRE)--Nouveau Monde Graphite Inc. (“Nouveau Monde” or the “Company”) (NYSE: NMG, TSXV: NOU) announces the grant of 225,000 stock options to an officer. These stock options are granted in accordance with the terms of the stock option plan of the Company. Each option entitles the holder thereof to purchase one common share of the Company at a price of $8.87 per common share for a period expiring on January 23, 2027. These options shall vest in four equal installments every six months following the grant date.

About Nouveau Monde
Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, Nouveau Monde aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com

Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to, the “About Nouveau Monde” paragraph which essentially describe the Company’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation of the equipment supporting the production, the Company’s business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.

Forward-looking information and statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking information and statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company’s assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company’s businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments’ responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Further information regarding the Company is available in the SEDAR database (www.sedar.com), and for United States readers on EDGAR (www.sec.gov), and on the Company’s website at: www.NMG.com.

Julie Paquet
VP Communications & ESG Strategy
+1-450-757-8905 #140
This email address is being protected from spambots. You need JavaScript enabled to view it.

Cleveland National Forest Fire Hardening and Safety Project furthers goal of providing safe and reliable energy

Media B-Roll

SAN DIEGO--(BUSINESS WIRE)--San Diego Gas & Electric (SDG&E) and the Cleveland National Forest announced today the completion of the Cleveland National Forest Fire Hardening and Safety (CNF) Project, a cornerstone of the San Diego region’s community fire safety and electric system-hardening efforts.

The CNF project encompassed a variety of wood-to-steel pole conversions and replacement or undergrounding of equipment to improve the fire-resistance of electric infrastructure throughout approximately 880 square miles in eastern San Diego, including the communities of Julian, Pauma Valley, Descanso, Pine Valley, Mount Laguna and Campo.

“This is an enormous accomplishment for our region and the result of incredible partnerships at the local, state and federal levels, as well as the patience of so many of our customers whose lives have been disrupted over the life of the project,” said Caroline Winn, SDG&E’s Chief Executive Officer. “Many dedicated crews and individuals worked for more than a decade, often in challenging conditions, and we are so proud and excited to announce its completion knowing that it plays a vital role in SDG&E’s commitment to making our electric system safer, cleaner and more reliable.”

Planning and design for one of the first fire-hardening programs to be developed by SDG&E followed devastating 2003 and 2007 wildfires, and construction began shortly after the company received unanimous approval from the CPUC and a Master Use Permit from the United States Forest Service (USFS) in 2016.

The CNF project is comprised of 20 different projects that include a total replacement of 607 miles of new conductor and equipment built to withstand winds more than 85 miles-per-hour and high temperatures, 17 new miles of undergrounded distribution lines located in high-priority areas, and the replacement of more than 2,100 wood poles with new-fire resistant, weatherized steel poles. With completion of the CNF project, 30% of San Diego’s backcountry electric infrastructure has been fire-hardened to date.

“This fire hardening project will not only safeguard communities within and adjacent to Forest from potential wildfire threats. It also protects priority watersheds improves sensitive wildlife habitats and scenic areas,” said Cleveland National Forest Supervisor Scott Tangenberg. “This project was indeed a team effort, and it strengthened relationships and fostered new partnerships that will have lasting results for the cultural and natural resources we manage.”

The project was not only one of SDG&E’s first large-scale fire hardening projects but was also one of the most challenging so far due to its size, complexity, rugged terrain, remote locations, the amount of undeveloped land, and the abundance of cultural resources that were discovered during the project. Recognizing the importance of avoiding and protecting these sensitive resources, SDG&E worked with the U.S. Forest Service to consult with the local Kumeyaay and Luiseño Tribes to fire harden the electric infrastructure on National Forest System lands, as well as other lands within the high fire threat district. Tribal consultation efforts continue as SDG&E enters the post-construction phase of the project. The team responsible for completing the project in an environmentally and culturally sensitive manner included dedicated staff from SDG&E, the CPUC and U.S. Forest Service who worked together to ensure all mitigation measures and compliance requirements were met. SDG&E was able to successfully complete construction of the project with zero agency issued non-compliances.

The CNF portfolio of projects is just one of many wildfire resiliency projects included in SDG&E’s Wildfire Mitigation Plan (WMP) filed with the CPUC each year. In accordance with Senate Bill 901, the WMP outlines the ongoing practices and additional improvements SDG&E will make beyond the investments the utility already has made to combat the effects of the changing climate and threat of year-round wildfires. For more information on SDG&E’s WMP, please visit SDGE.com/2021-Wildfire-Mitigation-Plan.

SDG&E is an innovative San Diego-based energy company that provides clean, safe and reliable energy to better the lives of the people it serves in San Diego and southern Orange counties. The company is committed to creating a sustainable future by currently providing around 45 percent of its electricity from renewable sources; modernizing natural gas pipelines; accelerating the adoption of electric vehicles; supporting numerous non-profit partners; and, investing in innovative technologies to ensure the reliable operation of the region’s infrastructure for generations to come. SDG&E is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information, visit SDGEnews.com or connect with SDG&E on Twitter: @sdge Instagram @SDGE and Facebook.

Denice Menard
San Diego Gas & Electric
(877) 866-2066
sdge.com
Twitter: @sdge

NEWBURY PARK, Calif.--(BUSINESS WIRE)--Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, OTCQB: KGEIF) is providing additional details of its rights offering (the “Offering”), which expired on December 29, 2021.

To the knowledge of the Company, only Polygon Global Partners LLP became an insider pursuant to the Offering. New and existing insiders, as a group, acquired an aggregate of 15,520,080 shares pursuant to basic subscription privileges and 50,327,366 shares pursuant to additional subscription privileges.

About Kolibri Global Energy Inc.

Kolibri Global Energy Inc. is an international energy company focused on finding and exploiting energy projects in oil, gas and clean and sustainable energy. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the OTCQB under the stock symbol KGEIF.

Wolf E. Regener
+1 (805) 484-3613
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.kolibrienergy.com

BASINGSTOKE, England--(BUSINESS WIRE)--#smartcitiesmarket--Juniper Research has ranked Shanghai as the world’s number one smart city for 2022.

Juniper Research’s smart city rankings were compiled following an extensive study of cities around the globe as published in our latest research, Smart Cities: Key Technologies, Environmental Impact & Market Forecasts 2022-2026.

The top 5 smart cities are:

• Shanghai
• Seoul
• Barcelona
• Beijing
• New York

The ranking of 50 world cities is based on an evaluation of many different aspects of smart cities, covering transportation and infrastructure, energy and lighting, city management and technology, and urban connectivity.

The research particularly lauds Shanghai’s Citizen Cloud as a one-stop point for over 1,000 different services for city residents. Thanks to their rapid deployment of data management platforms, efficient, digitised utility management and public services have become common in many cities across Asia; allowing them to climb Juniper Research’s rankings.

“Many cities have deployed technology and data to help local authorities reduce environmental impact and energy usage,” remarked research co-author Mike Bainbridge. “The top cities in our recent ranking are finding innovative ways to leverage that technology to deliver observable benefits for their citizens as well.”

For more insights, download our free whitepaper: Smart Cities ~ Technologies Shaping the Urban Future

The $70-billion Smart City Opportunity

In addition to these rankings, the research found that smart city initiatives will generate almost $70 billion in spend annually by 2026; up from $35 billion in 2021. Much of this will focus on smart grid initiatives, which will save over 1,000 TWh of electricity in 2026; equivalent to more than 5 years of energy consumption by Greater London at present levels.

Many areas of smart city development are still in their early stages, particularly outside the leading cities, so initial roll-outs still make up much of the market. Juniper Research notes that this means savings made through smart city technologies will remain high. We expect energy savings alone to reach $96 billion in 2026, making their deployment highly cost-effective in most instances.

Smart Cities market research: https://www.juniperresearch.com/researchstore/key-vertical-markets/smart-cities-research-report

Download the whitepaper: https://www.juniperresearch.com/whitepapers/smart-cities-technologies-shaping-the-urban

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

Sam Smith, Press Relations
T: +44(0)1256 830002
E: This email address is being protected from spambots. You need JavaScript enabled to view it.

STAMFORD, Conn.--(BUSINESS WIRE)--Crane Co., a diversified manufacturer of highly engineered industrial products, today announced its regular quarterly dividend of $0.47 per share for the first quarter of 2022. The dividend is payable on March 9, 2022 to shareholders of record as of the close of business on February 28, 2022.

Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane Co. provides products and solutions to customers in the chemicals, oil & gas, power, automated payment solutions, banknote design and production and aerospace & defense markets, along with a wide range of general industrial and consumer related end markets. The Company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies and Engineered Materials. On May 24, 2021, Crane announced that it had signed an agreement to divest its Engineered Materials segment; that sale is pending, subject to customary closing conditions and regulatory approval. Crane Co. has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia. Crane Co. is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.

Jason D. Feldman
Vice President, Investor Relations
203-363-7329
www.craneco.com

VALENCIA, Spain--(BUSINESS WIRE)--#ClimateAction--ClimateTrade, the leading blockchain-enabled climate marketplace, has raised €7 million in a Pre-Series A closed in Europe in late 2021, and is raising another €13 million in a US-focused round set to close upon ClimateTrade’s US reincorporation in the next five months. In total, the company is targeting €20 million of funding for international expansion.

ClimateTrade is a Spanish-based marketplace helping companies achieve their decarbonization goals by financing certified carbon offsetting and climate-regenerative projects around the world. This new capital will help to grow the startup’s activities in Europe, Asia and the US with new offices in four countries, to expand its technological product offering and to hire new talent.

The first round was oversubscribed, with interest from more than 90 investment funds. The €7 million was provided by Spanish investment firm GED via its VC fund Conexo Ventures, US power and technology fund ClearSky, blockchain investors Borderless Capital and Algorand, SIX FinTech Ventures, the VC arm of Swiss financial infrastructure provider SIX Group, Spain’s Telefónica via its open innovation hub Wayra, the investment arm of Japanese corporation Omron Ventures, climate VC Amasia, and Valencian impact fund Zubi Capital, which is backed by the founder of payment unicorn Flywire, Iker Macaide.

“For four years, ClimateTrade’s vision has been to enable climate action through technological innovation. Our blockchain-backed marketplace allowed companies to offset almost 2 million tons of CO2 in 2021 alone. This oversubscribed funding round is a testament to the impact ClimateTrade has already generated, and we are excited to further our action against climate change with this new infusion of capital,” commented Francisco Benedito, ClimateTrade’s CEO.

The second phase of this Series A, expected to raise €13 million, will be closed in the US upon ClimateTrade’s reincorporation later this year, and has received interest from several global investors. ClimateTrade US will be headquartered in Miami, a strategic choice given the city’s interest in combating the climate crisis, and its emergence as a global hub for the decentralized economy.

ClimateTrade’s clients include Cabify, Banco Santander, Telefónica, Correos and Telégrafos, Prosegur and many others. A pioneer in the development of its blockchain marketplace for climate, the company recently launched an API and Widget to allow companies to offer carbon-neutral products and services to their customers.

Melodie Michel
This email address is being protected from spambots. You need JavaScript enabled to view it.

HOUSTON--(BUSINESS WIRE)--Nine Energy Service, Inc. (NYSE: NINE) (“Nine” or the “Company”) announced today that a jury in the Western District of Texas, Waco Division (the “Court”) reached a verdict on January 21, 2022 in the patent litigation regarding the Company’s BreakThru™ Casing Flotation Device and its alleged infringement of a patent held by NCS Multistage Holdings, Inc. (“NCS”). The jury found that Nine infringed on NCS’s patent and awarded NCS damages in the amount of less than $500,000.

The Company strongly disputes the merits of NCS’s case, believes that NCS’s patent is invalid and not infringed, and as such, intends to appeal the Court’s decision. Nine acquired Frac Tech and the Breakthru™ Casing Flotation Device technology in November 2018.

“We intend to vigorously pursue overturning this decision in the appellate court where it will be reviewed by subject-matter experts,” said Ann Fox, Nine’s President and Chief Executive Officer. “Technology is a crucial part of Nine’s strategy, and we will continue to protect and defend our products from these claims.”

About Nine Energy Service

Nine Energy Service is an oilfield services company that offers completion solutions within North America and abroad. The Company brings years of experience with a deep commitment to serving clients with smarter, customized solutions and world-class resources that drive efficiencies. Serving the global oil and gas industry, Nine continues to differentiate itself through superior service quality, wellsite execution and cutting-edge technology. Nine is headquartered in Houston, Texas with operating facilities in the Permian, Eagle Ford, SCOOP/STACK, Niobrara, Barnett, Bakken, Marcellus, Utica and Canada.

For more information on the Company, please visit Nine’s website at nineenergyservice.com.

Forward Looking Statements

The foregoing contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that do not state historical facts and are, therefore, inherently subject to risks and uncertainties. Forward-looking statements also include statements that refer to or are based on projections, uncertain events or assumptions. The forward-looking statements included herein, such as those regarding the Company’s plan to appeal the Court’s decision, are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those forward-looking statements. Such risks and uncertainties include, among other things, the Company’s ability to manage capital expenditures; the adequacy of the Company’s capital resources and liquidity; and other factors described in the “Risk Factors” and “Business” sections of the Company’s most recently filed Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof, and, except as required by law, the Company undertakes no obligation to update those statements or to publicly announce the results of any revisions to any of those statements to reflect future events or developments.

Nine Energy Service Investor Contact:

Heather Schmidt
Vice President, Strategic Development, Investor Relations and Marketing
(281) 730-5113
This email address is being protected from spambots. You need JavaScript enabled to view it.

TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) announced today that NGL plans to issue its fiscal 2022 third quarter ended December 31, 2021, earnings press release post-market close on Wednesday, February 9, 2022. Members of NGL’s management team intend to host an earnings call following this release on Wednesday, February 9, 2022 at 4:00 pm CST to discuss its financial results. Analysts, investors, and other interested parties may join the webcast via the event link: https://www.webcaster4.com/Webcast/Page/2808/44432 or by dialing (888) 506-0062 and providing access code: 294091. An archived audio replay of the call will be available for 14 days, which can be accessed by dialing (877) 481-4010 and providing replay passcode 44432.

Forward Looking Statements

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

About NGL Energy Partners LP

NGL Energy Partners LP, a Delaware limited partnership is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.

This release is a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% of NGL Energy Partners LP’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

NGL Energy Partners LP
Linda J. Bridges, 918.481.1119
Chief Financial Officer and Treasurer
This email address is being protected from spambots. You need JavaScript enabled to view it.
or
David Sullivan, 918.481.1119
Vice President – Finance
This email address is being protected from spambots. You need JavaScript enabled to view it.